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11th Standard English Medium Accountancy Subject Conceptual Framework of Accounting Creative 3 Mark Questions with Solution Part - II updated Creative Questions Question Bank Software May-13 , 2022

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11th Standard English Medium Accountancy Subject Conceptual Framework of Accounting Creative 3 Mark Questions with Solution Part - II updated Creative Questions

11th Standard English Medium Accountancy Subject Conceptual Framework of Accounting Creative 3 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15
    5 x 3 = 15

  1. What is the need for accounting standards?

  2. Do you think that the principle of conservatism results in creating of secret reserve?

  3. Which value is reflected in the Accounting standards issued by ICAI?

  4. How does matching principle apply to depreciation?

  5. "Despite many advantages, double entry system also has some disadvantages". In the light of this statement discuss the advantages of double entry system.

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