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Industry and Its Classification: Business Studies Class 11

What is Industry? Business activities may be classified into two broad categories — Industry and Commerce. In this post we will discuss about Industry and...

Difference Between Business, Profession and Employment

Difference between Business, Profession and Employment is covered in Chapter 1 of Business Studies in Class 11 of NCERT Syllabus. We will discuss the...

Non Profit Accounting: Accounting for Non Profit Organizations

Introduction to Non Profit Accounting There are many organisations which are not run with the objective of earning profit. In this article we will learn...

The Transaction Approach or The Conversion Method of Single Entry System

Introduction to the Conversion Method of Single Entry System The Conversion Method of Single Entry System is a more scientific way of preparation of Final...

Statement of Affairs Method for Calculation of Profit or Loss under...

A trader may keep his accounting records under the single entry system due to lack of resources or expertise. However he would be equally...

Single Entry System: Accounting for Small Business from Incomplete Records:

Introduction to Single Entry System Who use the Single Entry System and Why? Single Entry System of Accounting, also known as Accounting from Incomplete Records, is...

Difference Between Bookkeeping and Accounting

Many students and professionals generally have the concept that Bookkeeping and Accounting are synonymous. However they are not same and there is massive difference...

Accounting for Bills of Exchange: Journal Entries for Various Transactions

Accounting For Bills Of Exchange: Journal Entries for Bills of Exchange In this article I will be discussing the Journal entries for Bills of Exchange. Also...

Bills of Exchange: Discounting, Endorsement, Dishonour, Noting & Protest etc.

Discounting of Bills of Exchange Bills of Exchange are generally payable after a certain period which is called the tenure of the bill (i.e on...

An Introduction to Bills of Exchange

Introduction You must be aware of the fact that in the modern business scenario, most of the business transactions are made on credit. Customers are...

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