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Accountancy · 2023 · 4 marks
Graphs and Charts for Business DataBasics Steps for Graphs/Charts/Diagrams Using Excel4 marksshort answer
CBSE 2023 · Region 3 · Set 1 · Q33
State the steps to be taken in preparation of a chart.ORWhat is meant by Accounting Cycle ? State its basic phases.
OR
What is meant by Accounting Cycle ? State its basic phases.Marking-scheme solution
Following steps are taken to prepare a chart :
(i)
Enter data in worksheet with proper column and row titles.
(ii)
Create a basic chart using the pattern from the panel available on top
of the worksheet in chart group option.
(iii)
Change the layout or style of chart.
• Apply pre-defined chart layout.
•
Apply pre-defined style.
• Change layout of chart elements
• Change the format of the elements.
(iv)
Add or remove titles or data labels.
• Add (remove) axis titles.
• Link a title to a worksheet cell.
•
Add remove data labels.
(v)
Show or hide a legend.
(vi)
Display or hide chart axis or gridlines.
•
Display (Hide) primary axes
• Display (Hide) secondary axes
• Display (Hide) gridlines.
(vii)
More or resize a chart.
Save the chart.
Q. What is meant by Accounting Cycle? State its basic phases.
Ans Accounting cycle means the processes involved in identifying, measuring and
communicating the accounting information.
The phases of this cycle are as follows:
• Business transactions are analysed.
•
The transactions are recorded in journal.
• Journal entries are posted to ledger accounts.
• A Trial Balance is prepared from balances of accounts.
•
Accounts are reviewed and necessary adjustments are made.
• Adjustments are posted in the ledger to prepare adjusted trial balance.
• Adjusted trial balance is used to prepare the balance sheet and profit
and loss account.
• Financial statements are prepared from the finally adjusted
ledger and balancing the accounts.
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.