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Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. . Every entry to an account requires a corresponding and opposite entry to a different acco
Items in accounts are classified into five broad groups, also known as the elements of the accounts: [2]. Asset, Liability, Equity, Revenue, Expense; The classification of equity as a distinctive element for classification of accounts is disputable on account of the "entity concept", since for the objective analysis of the financial results of any entity the external liabilities of the entity ...
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
In India, the 11th Grade is the first year of higher secondary education and is often considered the third year of high school (Higher/Senior Secondary School or Senior High School). It is commonly known as "Class 11" or "Plus 1" (derived from "10+1") and, in some states, as the first year of Junior College (Intermediate or Pre-University Course).
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Liability accounts are used to recognize liabilities. A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms ...
"Pre-University Course" (PUC) is 2-Year Senior Secondary Course and it is an intermediate level of education in the state of Karnataka, India and it collectively refers to 11th and 12th Grades officially in these states and offered in Junior Colleges or Pre-University Colleges instead of Senior Secondary Schools so only 11th and 12th grades are ...
CBSE conducts the final examinations for Class 10 and Class 12 every year in the months of February and March. The results are announced by the end of May. [ 8 ] The board earlier conducted the AIEEE Examination for admission to undergraduate courses in engineering and architecture in colleges across India, however, the AIEEE exam was merged ...