Revision Notes for CBSE Class 11 Accountancy Chapter-4 - Free PDF Download
The accountancy class 11 chapter 4 notes are essential study materials, which will help the students to understand the chapter precisely. The class 11 accounts chapter 4 notes provide a comprehensive view of the chapter along with solved exercises, short keynotes, revision notes and practice papers to improvise the exam preparation. The chapter encompasses and briefs on all the essential topics such as the Cash Book, Purchases Return (Return Outwards), Purchases Book, Sales, Sales Return Book (Return Inwards) and Journal Proper. Students can also download the PDF files of accounts class 11, chapter 4 notes arranged by qualified and expert educators. From this article, students can enhance their revision process.
FAQs on Recording of Transactions - II Class 11 Notes CBSE Accountancy Chapter 4 [Free PDF Download]
Q1. What are the Advantages of Subdividing the Journal?
Answer: The advantages of the sub-dividing of the journal are:
Accountability: As each statement is managed by individual accountants, it makes them more liable and assures that accounts are correctly maintained.
Accuracy: Each accountant will be functional in work allotted to them, and hence there are fewer possibilities of errors.
Division of Labour: As separate accountants manage accounts, it assures parallel recording and faster recording of transactions.
Economical: As a division of labour brings in specialisation, the method becomes effective and thereby becomes economical.
Q2. State the Requirements for Special Purpose Books.
Answer: Special purpose books benefit bookkeeping as each journal is maintained by a different auditor having particular expertise which improves accuracy and decreases errors. It increases efficiency by dividing the workload. The journal explains the idea of recording in brief descriptions. It reduces the bulk of posting as totals can be done systematically. Fraud prevention is also prevented as the record-keeping of various journals is assigned to a different individual, and as multiple accountants supervise multiple books, the recording work moves faster.