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Accountancy

Need for Adjustments

Need for Adjustments introduces Class 11 Accountancy students to the role of year-end changes in preparing reliable financial statements under Financial Statements – II. Students learn why the trial balance alone may not show the correct profit or financial position and how the accrual and matching concepts guide adjustments. The topic covers items such as outstanding and prepaid expenses, accrued and unearned income, depreciation, bad debts, and closing stock, along with their effect on the Trading Account, Profit and Loss Account, and Balance Sheet.

Easy · Level 1 · 1 questions

TOPIC PRACTICE

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  1. V-shaped valley
  2. U-shaped valley
  3. Rounded mound
  4. Sand dune

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