After the quiz on ledger , now its time for Bank reconciliation statement which is prepared as a settlement of records between the balance per financials books and the ...
Continue readingQuick Test on Knowledge of Accountancy-Bills of Exchange-Part 3

[caption id="attachment_13499" align="alignleft" width="300"] stevepb / Pixabay[/caption] This is third set on Bill of Exchange . After depreciation and ledger, here is another test for topic
Continue reading10 More Questions in Accountancy-Class XI-Recording of Transactions-III

Third set of 10 questions on Accountancy-Class XI-Recording of Transaction . The accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The principles of accountancy are ...
Continue readingTest Your Knowledge on Ledger Chapter of Accountancy of Class XI

Here is another set of questions set on CBSE class XI accountancy. This time chapter on Ledger is covered. Previously ;recording of transactions Part 1 , Part 2 were covered. So ...
Continue readingAccountancy Quick Test on Bill of Exchnage- Part-2

After depreciation and ledger, here is another test for topic "Bill of Exchange" which is a written order by the drawer to the drawee to pay money to the payee. A common type of bill of exchange is the cheque which is ...
Continue readingQuiz on Accounting Standards : 10 MCQs

Accounting standards are noting but principles of accounting. The term 'Standards' in place of 'principles' was introduced by the British when they set up their Accounting Standards Steering Committee in 1969.Later in 1973, the 'Standard' was ...
Continue readingAudit Engagement & Documentation – Part 2 !

Audit Engagement & Documentation The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days a person used to listen to the accounts read over by an accountant in order to check them. He was known ...
Continue readingInternal Audit – Quiz To Test Your Knowledge !

Internal Audit There are various forms of auditing exercise. In many cases, audit is prescribed by relevant statutes i.e. Companies Act, 2013, Income Tax Act, 1961, otherwise, audit can be carried out at the discretion of management. Here we would be discussing mainly ...
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