NCERT Solutions Class 12 Accountancy Financial Statements of a Company

NCERT Solutions Class 12 Accountancy Financial Statements of a Company. The NCERT solutions for Class 12 Accountancy book have been made by Accountancy teacher of one of the best CBSE school in India. Accountancy in class 12 is an important subject for commerce students. Its easy to learn and can help to get good marks. These NCERT solutions have been made to give detailed answers and explanations which can be easily understood by the students. Accountancy for commerce students is rather so important that in all future cources or even in graduation accountancy is the main subject and if understood properly can bethe most scoring also. You can download the NCERT solutions for free in pdf format. Refer to other links also to download Class 12 Accountancy NCERT solutions, worksheets, sample papers and test papers.

TEST YOUR UNDERSTANDING

I • State whether the following statements are true or false.

(a) Financial statements are the end products of accounting process.

Answer True

(b) Financial statements are primarily directed towards the needs of owners.

Answer True

(c) Facts and figures presented in financial statements are not at all based on personal judgements.

Answer False

(d) Recorded facts are based on replacement cost.

Answer False

(e) Going Concern concept assumes that the enterprise continues for a long-period of time.

Answer True

• Fill in the blanks with appropriate word(s)

(a) Financial statements are the—————of information to interested parties.

Answer Basic sources

(b) the owners of a company are called ———————

Answer Shareholders

(c) For income measurement—————–basis of accounting is followed.

Answer Accrual. .

(d) The statement which shows the assets and liabilities of a company is known as—————-.

Answer Balance sheet

(e) Profit and loss account is also called————-statement.

Answer Income

Please click the link below to download NCERT Solutions Class 12 Accountancy Financial Statements of a Company.

Tags: 

 


Click to View or Download pdf file
Click for more Accountancy Study Material

Latest NCERT & CBSE News

Read the latest news and announcements from NCERT and CBSE below. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning

Re verification of Class 12 Board Exams Marks

Modalities and Schedule for Senior Secondary School (Class XII) Examinations, 2020 in the subjects whose examinations have been conducted by CBSE for the processes of (I) Verification of Marks (II) Obtaining Photocopy of the Evaluated Answer Book(s) (Ill) Re-evaluation...

CBSE Decision on Board Exam 2020

The Class 10 and 12 exams are cancelled, and results for both 10th and 12th would be declared by July 15 based on internal exams. CBSE Class 12 students would have the option to appear for the exams at a later date. CBSE has a scheme in which marks scored in past 3...

CBSE Reduced Syllabus Clarification

CBSE board has issued the following clarification relating to various news reports regarding reduction in syllabus and questions from the reduced syllabus during board exams. Please read below: It has come to notice of the Board through a section of media reports that...

Training Programme on the Alternative Academic Calendar

In view of the extraordinary situation prevailing in the world due to COVID-19 pandemic, the CBSE Board had announced the ‘Revised Academic Curriculum for classes 9- 12 for the session 2020-21’. The reduced topics will not be part of the internal assessment or for the...

FAQs CBSE Board Exam Results Class 10 and 12

FAQs CBSE Board Exam Results Class 10 and 12 Q.1. What does the term RT in the marksheet mean? Ans.The term RT means REPEAT IN THEORY. This is the term used from 2020 instead of FAIL IN THEORY(FT) Q.2. What does the term RP in the marksheet mean? Ans.The term RP means...

Re verification of Class 10 Board Exams Marks

Modalities and Schedule for Secondary School (Class X) Examinations, 2020 in the subjects whose examinations have been conducted by CBSE for the processes of (I) Verification of Marks (II) Obtaining Photocopy of the Evaluated Answer Book(s) (Ill) Re-evaluation of Marks...

×
Studies Today