Theory Base of Accounting | Class 11 Accountancy Notes
By ConceptScroll Team · Published on 17 July 2026 · 2 min read
Theory Base of Accounting – this guide gives you a concise, exam-ready overview of Theory Base of Accounting from Class 11 Accountancy, written by ConceptScroll editors and reviewed against the latest NCERT textbook.
Types of Accounts and Their Rules
In accounting, accounts are classified into three types: Personal Account, Real Account, and Nominal Account. Each type follows specific rules for debit and credit entries that help maintain the accuracy of records. Personal Accounts relate to individuals, firms, companies, and other entities. The rule for Personal Account is 'Debit the receiver, Credit the giver.' Real Accounts relate to assets and properties owned by the business. The rule for Real Account is 'Debit what comes in, Credit what goes out.' Nominal Accounts relate to expenses, losses, incomes, and gains. The rule for Nominal Account is 'Debit all expenses and losses, Credit all incomes and gains.' These rules are essential for applying the double-entry system correctly and ensuring that every transaction is recorded with equal debit and credit entries. Understanding these types and their rules helps in proper classification and recording of business transactions.
🧪 Activity: No specific activity in this section.
🔗 Connection: This section leads to the explanation of the double entry system, which applies these rules to record transactions systematically.
Frequently asked questions
Depreciation arises due to
Normal wear and tear of an asset
When ‘ Provision for depreciation A/c’ is created, the amount of depreciation is
Dr. to ‘Provision for Depreciation’
Amortisation means
Writing off intangible assets
Depreciation is calculated from the date of
Asset put on use
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Clear NCERT-aligned notes on वित्तीय विवरण - 2 for Class 11 Accountancy.
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Clear NCERT-aligned notes on वित्तीय विवरण - 2 for Class 11 Accountancy.
- वित्तीय विवरण - 2 | Class 11 Accountancy Notes
Clear NCERT-aligned notes on वित्तीय विवरण - 2 for Class 11 Accountancy.