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📖 generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 1poem

and revenues is partially recorded. Hence, these are

Chapter 11: Accounts from Incomplete Records · ACCOUNTANCY

and revenues is partially recorded. Hence, these are usually referred as incomplete records. L EARNING O BJECTIVES After studying this chapter, you will be able to : state the meaning and features of incomplete records; calculate profit or loss using the statement of affairs method; distinguish between balance sheet and statement of affairs; prepare trading and profit and loss account and balance sheet from incomplete records; and detect the missing figures/information by preparing relevant accounts.

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