## Class 11 DK Goel Solutions Chapter 6 - Accounting Equations

## FAQs on DK Goel Solutions Class 11 Accountancy Chapter 6

**1. Why Should Students Learn from DK Goel Solutions Class 11 Chapter 6?**

All solutions comply with CBSE guidelines and are presented in the most simplified manner in these solutions PDF. It is available for download, free of cost. Every critical concept is highlighted to make the revision process easier for students before an exam.

**2. What can be Learned from Class 11 Accounts Chapter 6 DK Goel?**

Students can learn the fundamental principles of a double-entry accounting system. Based on the double-entry accounting system, the accounting equation ensures that the balance sheet remains “balanced”, i.e., Total Assets = Total Liabilities.

**3. What are the Current Assets and Current Liabilities?**

Current assets of any business include assets that can be easily converted into cash within a year. Some examples of current assets are cash, cash equivalents, debtors, and bills receivable.

Current liabilities are financial obligations of a business that are outstanding and payable within a year. A few examples of current liabilities include bills payable, creditors, and income tax. Generally, current assets are utilized to pay off the current liabilities of the business.

**4. How to Calculate Accounting Equations?**

To calculate the accounting equation, total assets and liabilities should be calculated separately in the balance sheet for a particular period. After adding shareholder’s funds and total liability, it should be equal to the total assets of the company.

**5. What are the chapter accounting equations included in the syllabus of Class 11 all about?**

The accounting equations and the concept related to them has been introduced in the syllabus of Class 11 students who have opted for Finance and Accountancy as one of their subjects. The basic concept of accounting and the equations deals with the subject of a monetary value and the liabilities and the capital. The accounting equations help them to find out the value of assets and capital and the formula helps them to know about the relationship between assets, liabilities and capital.

**6. Is learning accounting equations easy for the students of Class 11?**

The subject is very new to the students of Class 11 as they have never heard or learnt about the concepts earlier. The equations and the relationship between the various components is a bit complicated to understand for their age and they certainly need to be very attentive while learning the concepts in their classes. The students who want to advance their career in commerce and related subjects in future, need to have a good grip over the basic accounting equations.

**7. What is the purpose of learning accounting equations?**

The concept of accounting equations can be helpful for the students to conduct a complicated calculation process in their practical lives as well. The accounting equations can help the students to understand how the total asset of a company can be equal in amount with the total amount of the liabilities and the equity of the shareholders. Understanding these concepts and reasons for formulating the law can help them to adopt a practical approach to analysing the information of Finance.

**8. Why consulting the reference books can help the students to learn the difficult concepts of Commerce?**

The reference books are particularly designed for the students so that they can gather more information quickly without getting access to a lot of information sources at the same time. The solution books and reference books together can help them to get prepared for their Finance and Accountancy examinations in the best possible way. With the help of these books, the students can organise the strategies that they should follow while preparing for the examinations.

**9. From where the study materials and the DK Goel Solutions can be downloaded for free?**

The DK Goel Solutions for Class 11 students can be downloaded from the website of Vedantu. All the course materials that the students may need to understand the equations of accounting are available for free on the website of Vedantu. The students can also get their hands on popular books that involve the subject of accounting equations and various revision notes that can also help them to get prepared for the examination in the most structured way.

You can avail all the well-researched and good quality chapters, sample papers, syllabus on various topics from the website of Vedantu and its mobile application available on the play store.