Financial Statements - I — Important Questions
CBSE · Class 11 · Accountancy
154 important questions from Financial Statements - I for CBSE Class 11 Accountancy, with answers. Part of the CBSE Class 11 Accountancy syllabus.
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Important Questions from Financial Statements - I
What is the primary purpose of a Balance Sheet?
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To show financial position at a specific date
A Balance Sheet provides a snapshot of a company's financial position, listing assets, liabilities, and capital at a specific point in time.
Which of the following is a Current Asset?
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Cash in hand
Current assets are those which can be converted to cash within one year, and cash in hand is the most liquid current asset.
What does Operating Profit represent?
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Profit before interest and tax
Operating Profit (EBIT) represents the profit earned through normal business operations, excluding financial and extraordinary items.
Which of the following is an example of Revenue Expenditure?
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Payment of monthly rent
Revenue expenditure involves costs incurred for day-to-day operations that benefit only the current accounting period.
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Sources & Official References
- NCERT Official — ncert.nic.in
- CBSE Academic — cbseacademic.nic.in
- CBSE Official — cbse.gov.in
- National Education Policy 2020 — education.gov.in
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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