Prelims PDF for Class 12 Solutions

Accountancy is a process of systematic recording, analysing and interpreting the business transactions. Students can understand these basic concepts through practising questions from the class 12 Prelims. To practise questions students can go through the given NCERT textbook which is followed by the class 12 UP board. 

Students can understand the basics included in the Prelims as everything is explained in a comprehend manner. According to the concepts understood, students can manage to balance the sheet. Balancing sheets can be helpful to students in their graduation and for further chapters included in the class 12 NCERT book.

Prelims PDF Download

To understand important concepts included in the Prelims, students need to go through the chapter. Students can go through the chapter from Selfstudys website as we have it in a PDF file format. With the help of digital format, students don’t need to carry the physical copy of class 12 Accountancy not for profit organisation NCERT Book. Students can complete this particular chapter from anywhere because the download PDF helps students studying offline. 

Basic Definitions in Prelims

• Transactions- An event involving some amount of value between two or more entities. 

• Accounting- Accounting refers to the process of identifying, measuring, recording, communicating the required information in a business organisation. 

• Assets- Assets are the items of value used by the business during its operations. 

• Liabilities- These are obligations or debt that an enterprise needs to pay at some point of time. 

• Capital- It is an amount invested by the owner in the firm. 

• Sales- Sales are the revenue owned by the goods or services sold or provided to customers. 

• Expenses- It is a cost incurred by a business in the process of earning revenue. 

• Goods- It refers to the product in which the business unit is dealing. 

• Balance Sheet- It is a sheet which determines the financial position of the particular business.

• Gain- It is a profit which arises from the event or transactions which can be accidental to the business.

• Loss- It is considered to be excess of expenses over its related revenues during a period of time.

• Debtors- Debtors are the persons who owe money to the business for buying goods and services. 

• Creditors- Creditors are the persons who have to be paid by the enterprise. 

• Voucher- It is a document which can be considered as evidence to any transactions. 

• Drawings- It is withdrawal of money or goods by the owner from the business for personal use. 

• Stock- It is the measure of something on hand-goods, spares, or other items in a business. 

• Purchases- It is the total amount of goods procured by business on credit or on cash, for use or for sale. 

• Discount- It is the deduction in the price of goods sold.

How to Access the Prelims for UP Class 12? 

To have an easy access to the chapter Prelims, students can easily go through the given steps:

• Open Selfstudys website. 

• Bring the arrow towards State Boards. A pop-up menu will appear, select UP from the list. 

• A new page will appear, click class 12th from the list of classes. 

• Select UP board class 12th textbooks (English medium) and then click Accountancy-I.

• A new page will appear. Select class 12 Accountancy not for profit organisation. 

How to Understand the Prelims?

One can understand the chapter Prelims by reading the prescribed textbook. The NCERT Class 12 Book in PDF can easily be obtained through the Selfstudys website. Definitions of various terms related to the accountancy are explained in this chapter. By going through this chapter students can smoothly maintain the balance sheet without any difficulty.

Why is the UP Board Class 12 Chapter Prelims is Important?

Students need to study the class 12 chapter Prelims to understand all the concepts in it. All the concepts in this chapter are in a comprehensive manner so that students can understand it easily. Every concept in comprehensive can help students to score well in class 12 UP board exams. 

How to Score Good Marks in the Chapter Prelims?

Students should follow proper procedures to score good marks in the Prelims. Those procedures are: 

• First step is to study all the concepts thoroughly to avoid any confusion or difficulty in the topic. 

• Create self made notes in which all the concepts are explained in detail. Through these notes, try to revise the topics time and again especially, during the last minute exam preparation. 

• Practise questions from the class 12 Chapter Accountancy not for profit organisation. 

• Through practice of questions, students can deeply understand the concepts, so make sure to solve Previous year question paper of UP Board Class 12.