CBSE - Class 11 Accountancy Theory Base of Accounting Worksheet
Questions for Practice - Long Answers
1.
‘The accounting concepts and accounting standards are generally referred to as the essence of financial accounting’. Comment.
2.
What is matching concept? Why should a business concern follow this concept? Discuss.
3.
What is the money measurement concept? Which one factor can make it difficult to compare the monetary values of one year with the monetary values of another year?
4.
‘The accounting concepts and accounting standards are generally referred to as the essence of financial accounting’. Comment.
5.
Discuss the concept-based on the premise ‘do not anticipate profits but provide for all losses’.
6.
Discuss the concept-based on the premise ‘do not anticipate profits but provide for all losses’.
7.
Why is it important to adopt a consistent basis for the preparation of financial statements? Explain.
8.
What is matching concept? Why should a business concern follow this concept? Discuss.
9.
Why is it important to adopt a consistent basis for the preparation of financial statements? Explain.
10.
What is the money measurement concept? Which one factor can make it difficult to compare the monetary values of one year with the monetary values of another year?
Worksheet Answers
