Download App

Introduction to Accounting — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountIntroduction to Accounting1 Mark
Question
Name any two objectives of Accounting.
✓

Answer

The two objectives of Accounting are:
  1. Ascertaining profit or loss.
  2. Ascertaining financial position.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Introduction to Accounting→Introduction to Accounting — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Give two characteristics of accounting principles.
→
On $31^{st}$ March, $2019$, the total assets and external liabilities were ₹ $2,00,000$ and ₹ $6,000$ respectively. During the year, the proprietor had introduced capital of ₹ $20,000$ and withdrawn ₹ $12,000$ for personal use. He made a profit of ₹ $20,000$ during the year. Calculate the capital as on $1^{st}$ April, $2018$.
→
What is owner's equity? Give an equation for calculating owner's equity. Give two examples at least.
→
Prepare an imaginary specimen of a bill of exchange.
→
What is the objective of preparing an Account?
→
What is a Petty Cash Book?
→
What is Debit?
→
Jaspal has purchased a car for 5,00,000 which he got financed from a Bank to the extent of 4,00,000. How will it be shown in the accounting equation?
→
Salary of ₹ 2,100 paid was posted as ₹ 2,000 in Salary A/c and Advertisement of ₹ 7,700 was posted as ₹ 7,800. Identify the type of error.
→
Explain and give example of the following accounting term:
Expenses.
→