NCERT Solutions For Class 11 Financial Accounting – Introduction to Accounting Short Answer Type Questions Q1. Define accounting. Answer: Accounting is a process of identifying the events of financial nature, recording them in Journal, classifying in th…

NCERT Solutions For Class 11 Financial Accounting – Theory Base of Accounting Short Answer Type Questions Q1. Why is it necessary for accountants to assume that business entity will remain a going concern? Answer : Going Concern Concept assumes that the…