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Free Online MCQs on Accounting Equations – Class 11th Accountancy

Here, we have provided Free Online MCQs on Accounting Equations – Class 11th Accountancy. The accounting equation shows that all assets are either financed by borrowing a loan or paying with the loan of the company’s shareholders. Therefore, the accounting equation shows the relationship between the elements of accounting. Thus, the accounting equation is Assets …

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Free MCQs on Accounting Principles – Class 11th Accountancy

Accounting principles, concepts, and conventions are known as Generally Accepted Accounting Principles (GAAP). These principles are the base of Accounting. Generally Accepted Accounting Principles (GAAP) refers to the rules or guidelines adopted for recording and reporting of business transactions, in order to bring uniformity and consistency in the preparation and the presentation of financial statements. …

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