List out the basic accounting assumptions.
AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer
List of basic accounting assumptions:
- The Going Concern Assumption
- The Accrual Assumption
- The Accounting Entity Assumption
- The Money Measurement Assumption
- The Accounting Period Assumption
Suggested Q&A
Accountancy · Class 11- AccountancyClass 11What is meant by Assets? Also explain its types.
- AccountancyClass 11Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
- AccountancyClass 11Describe the informational needs of external users.
- AccountancyClass 11Explain any five advantages of Accounting.
- AccountancyClass 11Explain any five limitations of Accounting.
- AccountancyClass 11Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.