Accountancy is the practice of recording, distributing and reporting on trade transactions for a business. It furnishes feedback to the management with reference to the financial outcome and status of an establishment. The procedure of recording and abridging financial transactions is termed as ‘bookkeeping’.
NCERT solutions for class 12 Accountancy is classified into 2 parts. They are part 1 and part 2. Below mentioned are the chapters that are sorted under Part 1.
|Units||Name of the chapter|
|Chapter 1||Financial Statements of Not-for-Profit Organizations|
|Chapter 2||Accounting for Partnership Firms – Basic Concepts|
|Chapter 3||Reconstitution Of A Partnership Firm – Admission Of A Partner|
|Chapter 4||Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner|
|Chapter 5||Dissolution Of Partnership Firm|
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