Basic Accounting Terms In Simple Way 2025 | Accountancy Class 11th |

📚✨ Basic Accounting Terms Explained For Beginners | As Per T.S. Grewal (Class 11) | What Are The Basic Accounting Terms In Class 11 Accountancy Chapter 1?

😕 Confused by terms like Assets, Liabilities, Capital, or Drawings?

🎯 In this video, I’ve explained all the basic accounting terms from T.S. Grewal’s Class 11 Accountancy book in a simple, clear, and beginner-friendly way — with real-life examples!

🎓 Whether you're a Class 11 student, CBSE aspirant, or just starting your accounting journey, this video is the perfect foundation!

🧠 Topics Covered (As per T.S. Grewal):

✅ What is Accounting?
💰 Capital & Drawings
🏠 Assets: Fixed, Current, Tangible, Intangible
📉 Liabilities: Current & Non-Current
👨‍💼 Debtors & 👨‍🔧 Creditors
🛍️ Goods, Stock, Purchases, Sales
🔄 Purchase Return & Sales Return
💸 Expenses, Income & Revenue
📈 Profit, Loss & Gains
🧾 Entry, Journal & Ledger Basics
📘 And much more...

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❓ FAQs (Most Asked by Students):

🔹 What are the basic terms in accounting (T.S. Grewal)?
🔹 What is the meaning of a business transaction?
🔹 What is the accounting equation?
🔹 What is the meaning of debit and credit?
🔹 What is capital in accounting?
🔹 What is the meaning of drawings?
🔹 What is the difference between capital and drawings?
🔹 What are assets and liabilities with examples?
🔹 What is equity in accounting?
🔹 What is revenue and what are expenses?
🔹 What is profit and loss in accounting terms?
🔹 What is the difference between income and revenue?
🔹 What is the meaning of the term “stock” or “inventory”?
🔹 What is the meaning of cash and bank in accounting?
🔹 What is the meaning of provision in accounting?
🔹 What is depreciation in accounting terms?
🔹 What is working capital in simple terms?
🔹 How are purchases, sales, expenses, and income recorded?

💬 Have Questions? Drop them in the comments — I reply to everyone!
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   • Class 11th : Accountancy