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Category Archives: Class 11

Meaning of Incomplete Records The books of account maintained under a single entry system of bookkeeping are called Incomplete Records. Incomplete records generally give details… Read More
The Goods and Services Tax or GST is a single, indirect tax that integrates all indirect taxes within the Indian economy. The GST Act was… Read More
The industry is concerned with the processing and production of goods and services with the motive of earning profit. In simple words, it involves changing… Read More
Services are those essential and separately identifiable intangible activities satisfying the wants of consumers. It is not necessary that services are linked to the sale… Read More
The female reproductive part of the flower is known as Gynoecium. It is the part that produces ovaries which are later on finally converted into… Read More
Export is one of the main components of International business and involves the movement of goods and services across the nations and the exchange of… Read More
What is Histogram? A histogram is a graphical representation of the frequency distribution of continuous series using rectangles. The x-axis of the graph represents the… Read More
1. Payment is received through cheque, and a discount is allowed. A. When a cheque is received from a customer, and a discount is allowed… Read More
Recording of Banking Transactions: All businesses make many transactions with the bank in their day-to-day activities. Journal Entries related to banking transactions are as follows:… Read More
Wholesale Trade means buying and selling goods in relatively large quantities or bulk. It is one of the main categories of domestic trade. The traders… Read More
Retailers are business enterprises involved in selling goods and services directly to the ultimate customer. They buy goods from wholesalers in large quantities and sell… Read More
The ‘word’ mode gets its roots from the old French word ‘La Mode’, which means most popular phenomenon, and from the Latin word ‘Modus’, meaning… Read More
The word mode comes from the Latin word ‘Modus’, meaning measurements, quantity, way, or manner. In statistics, Mode refers to the variable that occurs most… Read More
An organization’s obligation to make decisions and perform them for the benefit of society and its values is known as the social responsibility of a… Read More
Statement of Affairs Under the single entry system of bookkeeping, accounts maintained by the business are incomplete. The businessman maintains the records as per his… Read More

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