{"id":146670,"date":"2021-11-03T11:53:35","date_gmt":"2021-11-03T06:23:35","guid":{"rendered":"https:\/\/www.kopykitab.com\/blog\/?p=146670"},"modified":"2021-11-03T11:53:37","modified_gmt":"2021-11-03T06:23:37","slug":"dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting","status":"publish","type":"post","link":"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/","title":{"rendered":"DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting (Updated For 2021-22)"},"content":{"rendered":"\n<p><img class=\"alignnone size-full wp-image-146987\" src=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/11\/Chapter-4-Process-and-Bases-of-Accounting.jpg\" alt=\"DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/11\/Chapter-4-Process-and-Bases-of-Accounting.jpg 1200w, https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/11\/Chapter-4-Process-and-Bases-of-Accounting-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><strong>DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting:\u00a0<\/strong>Class 11 Accountancy is made eaiser, and all thanks to the DK Goel Solutions Class 11 Accountancy Chapter 4. You can even solve assignments with the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting. Its solutions are designed by subject matter experts which make them accurate and credible.<\/p>\n<p>Download the Free PDF of <a href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-class-11-accountancy-solutions\/\" target=\"_blank\" rel=\"noopener\">DK Goel Solutions Class 11 Accountancy<\/a> Chapter 4 Process and Bases of Accounting by using the download link given in this blog. To know more, read the whole blog.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_47_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69ea30de061fc\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69ea30de061fc\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-visibility-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#download-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\" title=\"Download DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF\">Download DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#access-solutions-of-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\" title=\"Access Solutions Of DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting\">Access Solutions Of DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#faqs-on-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\" title=\"FAQs on DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting\">FAQs on DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#how-many-questions-are-there-in-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\" title=\"How many questions are there in DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting?\">How many questions are there in DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#what-are-the-advantages-of-the-accrual-basis-of-accounting\" title=\"What are the advantages of the accrual basis of accounting?\">What are the advantages of the accrual basis of accounting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#from-where-can-i-find-the-download-link-for-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\" title=\"From where can I find the download link for the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?\">From where can I find the download link for the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#how-much-does-it-cost-to-download-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\" title=\"How much does it cost to download the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?\">How much does it cost to download the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/#can-i-access-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf-offline\" title=\"Can I access the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF Offline?\">Can I access the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF Offline?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"download-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\"><\/span>Download DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/11\/4ch.pdf\" target=\"_blank\" rel=\"noopener\">DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting<\/a><\/p>\n<div id=\"example1\" style=\"text-align: justify;\">\u00a0<\/div>\n<p style=\"text-align: justify;\"><style>\n.pdfobject-container { height: 500px;}<br \/>\n.pdfobject { border: 1px solid #666; }<br \/>\n<\/style><\/p>\n<p style=\"text-align: justify;\"><script src=\"https:\/\/www.kopykitab.com\/_utility\/js\/pdfobject.min.js\"><\/script><br \/><script>PDFObject.embed(\"https:\/\/www.kopykitab.com\/blog\/wp-content\/uploads\/2021\/11\/4ch.pdf\", \"#example1\");<\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"access-solutions-of-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\"><\/span>Access Solutions Of DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Question 1<\/strong><\/p>\n<p>Define Process of Accounting<\/p>\n<p align=\"justify\"><strong>Answer-<\/strong> The accounting process of a company starts with the identification of the company\u2019s transaction and then recording, categorizing, and summarizing a business transaction, which helps in the preparation of trial balance\u00a0and financial statement.<\/p>\n<p><strong>Question 2<\/strong><\/p>\n<p>What is the cash basis of accounting?<\/p>\n<p><strong>Answer-<\/strong> On the cash basis of accounting, incomes are not recorded unless they are received in cash. Similarly, expenses are recorded only when they are paid in cash.\u00a0<\/p>\n<p><strong>Question 3<\/strong><\/p>\n<p>What is the accrual basis of accounting?<\/p>\n<p><strong>Answer-<\/strong>\u00a0 In this process, incomes are registered when it is accrued or earned, whether the cash is collected or not, for instance, sales done on credit will be registered in the total sales of the term. Likewise, expenses are registered when it becomes due or incurred and not when the cash is paid for them.\u00a0<\/p>\n<p><strong>Question 4<\/strong><\/p>\n<p>On which basis of accounting outstanding expenses are not recorded?<\/p>\n<p><strong>Answer-<\/strong> On the cash basis of accounting the outstanding expenses are not recorded.<\/p>\n<p><strong>Question 5<\/strong><\/p>\n<p>Write two advantages of accrual basis of accounting.<\/p>\n<p><strong>Answer-\u00a0<\/strong>The two advantages of the accrual basis of accounting are.<\/p>\n<p>(i) It reveals true profit or loss for a specific period.<\/p>\n<p>(ii) It adheres to the matching principle of accounting.<\/p>\n<p><strong>Question 6<\/strong><\/p>\n<p>Which basis of accounting is recognized under the Companies Act, 2013.<\/p>\n<p><strong>Answer-\u00a0<\/strong>The accrual basis of accounting is\u00a0recognized under the Companies Act, 2013<\/p>\n<p><strong>Question 7<\/strong><\/p>\n<p>Does the cash basis of accounting violate GAAP? IF, yes, how?<\/p>\n<p><strong>Answer-<\/strong>Yes<strong>,\u00a0<\/strong>the cash basis of accounting violate GAAP because it does not follow the principle and accrual concept.<\/p>\n<p><strong>Question 8<\/strong><\/p>\n<p>Explain in detail all the steps followed in the process of accounting.<\/p>\n<p><strong>Answer-<\/strong>\u00a0The steps included in the process of accounting are.<\/p>\n<ul>\n<li><strong>Identification of Transaction-\u00a0<\/strong>Accounting only deals with monetary transactions. Any event that cannot be measured in terms of money cannot be accounted for in accounting. For all monetary transactions, it is important to have a voucher or an invoice as a piece of evidence. The evidence of the transaction is known as a source document.<\/li>\n<li><strong>Preparation of Voucher-<\/strong> According to the source document entry, first the transaction is recorded in a voucher, later from the voucher it is transferred to a journal or original book of entry.<\/li>\n<li><strong>Recording in books of original entry-<\/strong> The book in which the transaction is entered for the first time from a voucher or the source document is known as a book of original entry. An example of an original book of entry is Journal.<\/li>\n<li><strong>Posting of Ledger-<\/strong> Once the transaction is recorded in the journal, it is then entered into the ledger. The ledger is a book of account where all the transactions are recorded according to their nature.<\/li>\n<li><strong>Preparation of Trial Balance and Financial Statement-\u00a0<\/strong>The final step of the accounting process is the preparation of the trial balance and financial statement. The final balance of the ledger account helps the management to prepare the trial balance and financial statement. The trial balance is structured with the help of the debit and credit balance of the ledger account to verify the accuracy of the posting and balancing of the ledger account. All the balances recorded in the trial balance based on the ledger provides a base for preparing the financial statement of a company.<\/li>\n<\/ul>\n<p>This is the complete blog on DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting. To know more about the <a href=\"https:\/\/www.cbse.gov.in\/\" target=\"_blank\" rel=\"noopener\">CBSE<\/a> Class 11 Accountancy exam, ask in the comments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"faqs-on-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\"><\/span>FAQs on DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1635844425528\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how-many-questions-are-there-in-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\"><\/span>How many questions are there in DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>There are 8 questions in the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1635844472772\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what-are-the-advantages-of-the-accrual-basis-of-accounting\"><\/span>What are the advantages of the accrual basis of accounting?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The two advantages of the accrual basis of accounting are.<br \/>(i) It reveals true profit or loss for a specific period.<br \/>(ii) It adheres to the matching principle of accounting.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1635844502870\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"from-where-can-i-find-the-download-link-for-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\"><\/span>From where can I find the download link for the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>You can find the download link of\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting in the above blog.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1635844533769\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how-much-does-it-cost-to-download-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf\"><\/span>How much does it cost to download the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>You can download DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting for free.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1635844547098\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"can-i-access-the-dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting-pdf-offline\"><\/span>Can I access the\u00a0DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF Offline?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Once you have downloaded the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting PDF online, you can access it offline whenever you want.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting:\u00a0Class 11 Accountancy is made eaiser, and all thanks to the DK Goel Solutions Class 11 Accountancy Chapter 4. You can even solve assignments with the DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting. Its solutions are designed &#8230; <a title=\"DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting (Updated For 2021-22)\" class=\"read-more\" href=\"https:\/\/www.kopykitab.com\/blog\/dk-goel-solutions-class-11-accountancy-chapter-4-process-and-bases-of-accounting\/\" aria-label=\"More on DK Goel Solutions Class 11 Accountancy Chapter 4 Process and Bases of Accounting (Updated For 2021-22)\">Read more<\/a><\/p>\n","protected":false},"author":243,"featured_media":146987,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[73410],"tags":[77624,77623,77627],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/146670"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/243"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=146670"}],"version-history":[{"count":5,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/146670\/revisions"}],"predecessor-version":[{"id":146988,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/146670\/revisions\/146988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media\/146987"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=146670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=146670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=146670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}