Theory Base of Accounting — Important Questions
CBSE · Class 11 · Accountancy
70 important questions from Theory Base of Accounting for CBSE Class 11 Accountancy, with answers. Part of the CBSE Class 11 Accountancy syllabus.
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Important Questions from Theory Base of Accounting
Which concept requires that expenses incurred in an accounting period should be matched with revenues during that same period?
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Matching Concept
The Matching Concept ensures that expenses are recognized in the same period as the revenues they help generate.
What does the Money Measurement Concept state about recording transactions?
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Record only transactions that can be expressed in monetary terms
The Money Measurement Concept requires that only transactions which can be expressed in monetary terms are recorded in accounting books.
Which accounting concept requires that profits should not be overstated and all potential losses should be provided for?
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Conservatism Concept
The Conservatism Concept (Prudence) ensures that potential losses are recognized while potential gains are not recorded until realized.
What does the Dual Aspect Concept state about business transactions?
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Every transaction has a two-fold effect
The Dual Aspect Concept states that every transaction affects at least two accounts, maintaining the accounting equation Assets = Liabilities + Capital.
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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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