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Chapters
▶ 2: Conceptual Framework of Accounting
3: Books of Prime Entry
4: Ledger
5: Trial Balance
6: Subsidiary Books - 1
7: Subsidiary Books - 2
8: Bank Reconciliation Statement
9: Rectification of Errors
10: Depreciation Accounting
11: Capital and Revenue Transactions
12: Final Accounts of Sole Proprietors - 1
13: Final Accounts of Sole Proprietors - 2
14: Computerised Accounting
![Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board chapter 2 - Conceptual Framework of Accounting - Shaalaa.com](/images/accountancy-english-class-11-tn-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board chapter 2 - Conceptual Framework of Accounting")
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Solutions for Chapter 2: Conceptual Framework of Accounting
Below listed, you can find solutions for Chapter 2 of Tamil Nadu Board of Secondary Education Samacheer Kalvi for Accountancy [English] Class 11 TN Board.
Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board 2 Conceptual Framework of Accounting Multiple choice questions [Page 24]
Choose the correct answer
The business is liable to the proprietor of the business in respect of capital introduced by the person according to ________.
Money measurement concept
Cost concept
Business entity concept
Dual aspect concept
The concept which assumes that a business will last indefinitely is ____________.
Business Entity
Going concern
Periodicity
Conservatism
GAAPs are ___________
Generally Accepted Accounting Policies
Generally Accepted Accounting Principles
Generally Accepted Accounting Provisions
None of these
The rule of stock valuation ‘cost price or realisable value’ whichever is lower is based on the accounting principle of ________.
Materiality
Money measurement
Conservatism
Accrual
In India, Accounting Standards are issued by ____________.
Reserve Bank of India
The Cost and Management Accountants of India
Supreme Court of India
The Institute of Chartered Accountants of India
Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board 2 Conceptual Framework of Accounting Very short answer questions [Page 25]
Define book-keeping.
What is meant by accounting concepts?
Briefly explain about realisation concept.
What is “Full Disclosure Principle” of accounting.
Write a brief note on ‘Consistency’ assumption.
Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board 2 Conceptual Framework of Accounting Short answer questions [Page 25]
What is the matching concept?
Why should a business concern follow the matching concept?
“Only monetary transactions are recorded in accounting”. Explain the statement.
“Business units last indefinitely”. Mention and explain the concept on which the statement is based.
Write a brief note on Accounting Standards.
Solutions for 2: Conceptual Framework of Accounting
Samacheer Kalvi solutions for Accountancy [English] Class 11 TN Board chapter 2 - Conceptual Framework of Accounting
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Concepts covered in Accountancy [English] Class 11 TN Board chapter 2 Conceptual Framework of Accounting are Book-keeping-An Introduction, Book-keeping Vs. Accounting, Relationship among Book-keeping, Accounting and Accountancy, Accounting Principles, Accounting Standards (AS), International Financial Reporting Standards (IFRS), Accounting Standards in India.
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