Economics Class 11 12 CUET Notes

GDP Deflator

✅Advantages of Computerized Accounting System ➖ The accounts developed by computers are accurate, uniformed, clear, and comprehensive. ➖ It saves time and increases the efficiency of the employees. ➖ The computer prepares the account and records in no time with accuracy. ➖ Computerized accounting m…

✅Features of Income and Expenditure Account ➖Income and expenditure account presented by non-trading entities are much like the profit and loss a/c presented by trading entities. ➖It is prepared by stringently following the fundamentals of the double-entry system of bookkeeping or accounting. ➖It i…

✅What is Reserve in Balance Sheet: A reserve is a retained earnings secured by a company to strengthen a company’s financial position, clear debt & credits, buy fixed assets, company expansion, legal requirements, investment and other plans. These are usually done to save the cash from being used i…

♻️ Features of Balance Sheet: ➖It is regarded as the last step in final accounts creation ➖It is a statement and not an account ➖It consists of transactions recorded under two sides namely, assets and liabilities. Assets are placed in the left hand side, while the liabilities are placed on the righ…

Classification of Expenditure Expenditure is referred to as the act of spending time, energy or money on something. In economics, it means money spent on purchasing any goods or services. There are two categories of expenditures which are: Revenue Expenditures Revenue expenditures are the expendit…

Short cut Of Economics 👆👆

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