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Home >> Commerce CBSE (XI - XII)

Unit 1 : Introduction to Accounting

Accounting- meaning, objectives, Accounting as source of information, internal and
external users of Accounting information and their needs.

Qualitative characteristics of Accounting information-reliability, relevance,
understandability and comparability.

Basic Accounting Terms - Asset, Liability, Capital, Expense, Income, Expenditure, Revenue, Debtors, Creditors, Goods, Cost, Gain, Stock, Purchase, Sales, Loss, Profit, Voucher, Discount, Transaction, Drawings.

Unit 2 : Theory Base of Accounting

Accounting Principles - meaning and nature

Accounting Concepts: Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition (Realisation), Matching, Accrual, Full Disclosure, Consistency, Conservatism,Materiality

Accounting Standards- Concept

Process of accounting-from recording of business transactions to preparation of trial balance.

Bases of Accounting - Cash Basis, Accrual Basis

Unit 3 : Recording of Business Transactions

Voucher and Transactions: Origin of Transactions-Source Documents and Vouchers, preparation of Accounting vouchers; Accounting Equation Approach - Meaning and Analysis of transactions using Accounting Equation: Rules of Debit and Credit.

Recording of Transactions: Books of original entry - Journal, Special Purpose Books: i) Cash Book – Simple, Cashbook with Bank column and Petty Cashbook, ii) Purchases Book, Sales Book, Purchase Returns Book, Sales Returns Book; Ledger-meaning, utility, format; posting from Journal and Subsidiary books; Balancing of Accounts.

Bank Reconciliation Statement: Meaning, Need and Preparation, Corrected Cash Book Balance

Unit 4 : Trial Balance and Rectification of Errors

Trial Balance: meaning, objectives and preparation.
Errors: Types of Errors: Errors of omission, commission, principles and compensating errors affecting Trial Balance; errors not affecting Trial Balance.

Detection and Rectificition of Errors (One Sided and Two Sided); use of Suspense Account.


Unit 5 : Depreciation, Provisions and Reserves

Depreciation: Meaning and need for charging depreciation, factors affecting depreciation,methods of
depreciation-Straight Line method, Written Down Value method (excludingchange in method), Method of recording depreciation-charging to asset account, creatingprovision for depreciation/accumulated depreciation account; Treatment of disposal of asset.

Provisions and Reserves: meaning, importance, difference between Provisions andReserves, types of
Reserves: Revenue Reserve, Capital Reserve, General Reserve, Specific Reserve and Secret Reserves

Unit 6 : Accounting for Bills of Exchange Transactions

Bills of exchange and Promissory Note: definition, features, parties, specimen and distinction.

Important Terms: Term of Bill, Accommodation Bill, Days of Grace, Date of Maturity, Billat Sight, Negotiation, Endorsement, Discounting of Bill, Dishonour, Retirement and Renewal of a Bill.

Accounting treatment of trade bills and accomodation bills.

Part B : Financial Accounting - II

Unit 7 : Financial Statements

Financial statements: meaning and users.

Capital Expenditure and Deferred Revenue Expenditure

Trading and Profit and Loss Account: Gross Profit, Operating and net profit.

Balance Sheet: need, grouping and marshalling of Assets and Liabilities. Vertical and Horizontal Presentation of Financial Statements.

Adjustments in preparation of financial statements with respect to closing stock, expenses, prepaid expenses, accrued Income, Income received In advance, depreciationand bad debts, provision for doubtful debts, provision for discount on debtors, manager's commission.

Preparation of Trading and Profit & Loss Account and Balance Sheet of sole proprietorship.

Unit 8 : Accounts from incomplete records

Incomplete records : meaning, uses and limitations. Ascertainment of profit/loss by statementof affairs method, conversion method.

Unit 9 : Computers in Accounting

Introduction to Computer and Accounting Information System (AIS)

Applications of computers in accounting:
- Automation of accounting process, designing accounting reports, MISreporting, data exchange with other information systems

Comparison of accounting processes in manual and computerized accounting,highlighting advantages and
limitations of automation

Sourcing of accounting system: readymade and customized and tailor-madeaccounting system. Advantages and
disadvantages of each option.

Unit 10 : Accounting and Database System

Accounting and Database Management System
Concept of entity and relationship: entities and relationships in an Accounting System:designing and creating simple tables, forms, queries and reports in the context of Accounting System.

Recommended text books
1. Accountancy Part - I, Published by NCERT
2. Accountancy Part - II – do –


Class XI

Paper 1      3 Hours            100 Marks


Part A : Statistics for Economics

1. Introduction
2. Collection, Organisation and Presentation of Data
3. Statistical Tools and Interpretation
4. Developing Projects in Economics


Part B : Indian Economic Development

5. Development Policies and Experience (1947-90)
6. Economic Reforms since 1991
7. Current Challenges facing Indian Economy
8. Development experience of India-A
comparison with neighbours

Part A : Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and presentation of
quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

Unit 1 : Introduction

What is Economics?
Meaning, scope and importance of statistics in Economics

Unit 2 : Collection, Organisation and Presentation of data

Collection of data - sources of data - primary and secondary; how basic data is collected; methods of collecting data; Some important sources of secondary data: Census of India and National Sample Survey
Organisation.Organisation of Data: Meaning and types of variables; Frequency Distribution.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3 : Statistical Tools and Interpretation

(For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means, the students need to solve the problems and provide interpretation for the results derived)Measures of Central Tendency- mean (simple and weighted), median and modeMeasures of Dispersion – absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning and its application.Correlation - meaning, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation.Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Unit 4 : Developing Projects in Economics

The students may be encouraged to develop projects, which have primary data, secondary data or both. Case studies of a few organisations / outlets may also be encouraged. Some of the examples of the projects are as follows (they are not mandatory but suggestive):

(i) A report on demographic structure of your neighborhood;
(ii) Consumer awareness amongst households
(iii) Changing prices of a few vegetables in your market
(iv) Study of a cooperative institution: milk cooperatives

The idea behind introducing this unit is to enable the students to develop the ways and means by which a
project can be developed using the skills learned in the course. This includes all the steps involved in designing a project starting from choosing a title, exploring the information relating to the title, collection of primary and secondary data, analysing the data, presentation of the project and using various statistical tools and their interpretation and conclusion.

Part B: Indian Economic Development

Unit 5 : Development Policies and Experience (1947-90):

A brief introduction of the state of Indian economy on the eve of independence. Common goals of Five Year Plans.Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy, etc.), industry (industrial licensing, etc,) and foreign trade.

Unit 6 : Economic Reforms since 1991:

Need and main features - liberalisation, globalisation and privatisation;An appraisal of LPG policies

Unit 7 : Current challenges facing Indian Economy:

Poverty- absolute and relative; Main programmes for poverty alleviation: A critical assessment; Rural
development: Key issues - credit and marketing - role of cooperatives; agricultural diversification; alternative farming - organic farming Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India Employment: Growth, informalisation and other issues: Problems and policiesInfrastructure: Meaning-and Types: Case Studies: Energy and Health: Problems and Policies- A critical assessment;Sustainable Economic Development:Meaning; Effects of Economic Development on Resources and Environment.

Unit 8 : Development Experience of India:

A comparison with neighbours India and Pakistan India and China


Class XI

One Paper Three Hours Max Marks. 100

Units Marks




Sets and their representations. Empty set. Finite & Infinite sets. Equal sets.Subsets. Subsets of the set of real numbers especially intervals (with notations). Power set. Universal set. Venn diagrams. Union and Intersection of sets. Difference of sets. Complement of a set.

2.Relations & Functions:

Ordered pairs, Cartesian product of sets. Number of elements in the cartesian product of two finite sets.
Cartesian product of the reals with itself (upto R x R x R). Definition of relation, pictorial diagrams, domain. codomain and range of a relation. Function as a special kind of relation from one set to another. Pictorial representation of a function, domain, co-domain & range of a function. Real valued function of the real variable, domain and range of these functions, constant, identity, polynomial, rational, modulus, signum and greatest integer functions with their graphs. Sum, difference, product and quotients of functions.

3. Trigonometric Functions:

Positive and negative angles. Measuring angles in radians & in degrees and conversion from one measure to another. Definition of trigonometric functions with the help of unit circle. Truth of the identity sin2x + cos2x=1, for all x. Signs of trigonometric functions and sketch of their graphs. Expressing sin (x+y) and cos (x+y) in terms of sinx, siny, cosx & cosy. Deducing the identities like the following: Identities related to sin 2x, cos2x, tan 2x, sin3x, cos3x and tan3x. General solution of trigonometric equations of the type sin = sin , cos = cos and tan = tan


1. Principle of Mathematical Induction:

Processes of the proof by induction, motivating the application of the method by looking at natural numbers as the least inductive subset of real numbers. The principle of mathematical induction and simple applications.

2. Complex Numbers and Quadratic Equations:

Need for complex numbers, especially, to be motivated by inability to solve every quadratic equation. Brief description of algebraic properties of complex numbers. Argand plane and polar representation of complex numbers. Statement of Fundamental Theorem of Algebra, solution of quadratic equations in the complex number system.

3. Linear Inequalities:

Linear inequalities. Algebraic solutions of linear inequalities in one variable and their representation on the number line. Graphical solution of linear inequalities in two variables. Solution of system of linear inequalities in two variables- graphically.

4. Permutations & Combinations:

Fundamental principle of counting. Factorial n. (n!)Permutations and combinations, derivation of formulae and their connections, simple applications.

5. Binomial Theorem:

History, statement and proof of the binomial theorem for positive integral indices. Pascal's triangle, General and middle term in binomial expansion, simple applications.

6. Sequence and Series:

Sequence and Series. Arithmetic progression (A. P.). arithmetic mean (A.M.) Geometric progression (G.P.), general term of a G.P., sum of n terms of a G.P., geometric mean (G.M.), relation between A.M. and G.M. Sum to n terms of the special series and


1.Straight Lines

Brief recall of 2D from earlier classes. Slope of a line and angle between two lines. Various forms of equations of a line: parallel to axes, point-slope form, slope-intercept form, twopoint form, intercepts form and normal form. General equation of a line. Distance of a point from a line.

2.Conic Sections

Sections of a cone: circle, ellipse, parabola, hyperbola, a point, a straight line and pair of intersecting lines as a degenerated case of a conic section. Standard equations and simple properties of parabola, ellipse and
hyperbola. Standard equation of a circle.

3.Introduction to Three - dimensional Geometry

Coordinate axes and coordinate planes in three dimensions. Coordinates of a point. Distance between two
points and section formula.


1. Limits and Derivatives:

Derivative introduced as rate of change both as that of distance function and geometrically, intuitive idea of limit. Definition of derivative, relate it to slope of tangent of the curve, derivative of sum, difference, product and quotient of functions. Derivatives of polynomial and trigonometric functions.


1. Mathematical Reasoning:

Mathematically acceptable statements. Connecting words/ phrases - consolidating the understanding of "if and only if (necessary and sufficient) condition", "implies", "and/or", "implied by", "and", "or", "there exists" and their use through variety of examples related to real life and Mathematics. Validating the statements involving the connecting wordsdifference between contradiction, converse and contrapositive.



Measure of dispersion; mean deviation, variance and standard deviation of ungrouped/grouped data. Analysis of frequency distributions with equal means but different variances.

2. Probability:

Random experiments: outcomes, sample spaces (set representation). Events: occurrence of events, 'not', 'and' and 'or' events, exhaustive events, mutually exclusive events Axiomatic (set theoretic) probability, connections with the theories of earlier classes. Probability of an event, probability of 'not', 'and' & 'or' events.

Recommended Textbooks.
1) Mathematics Part I - Textbook for Class XI, NCERT Publication
2) Mathematics Part II - Textbook for Class XI, NCERT Publication

Part A : Accounting for not for Profit Organisations, Partnership Firms and Companies

1. Accounting for not for profit organizations.
2. Accounting for Partnership Firms
3. Reconstitution of Partnership
4. Accounting for Share Capital and Debenture

Part B : Financial Statement Analysis

5. Analysis of Financial Statements
6. Cash Flow Statement
7. Project Work
Unit 1 : Project File
Unit 2 : Written Test
Unit 3 : Viva Voce’

Part C : Computerized Accounting

5. Overview of Computerized Accounting System
6. Accounting using Database Management System (DBMS)
7. Accounting Applications of Electronic Spread sheet
8. Practical Work in Computerized Accounting
Unit 1 : File
Unit 2 : Practical Examination
Unit 3 : Viva Voce’


Part A : Accounting for Not - For - Profit Organisations,

Partnership Firms and Companies.(Periods 124)

Unit 1 : Accounting for Not-for-profit Organisations

Meaning and features of not for profit organisations.
Meaning and features of fundbased acccounting.
Receipts and payments Account

Preparation of Income and Expenditure Account and Balance Sheet from Receipt and Payment Account with additional information.

Unit 2 : Accounting for Partnership firms

Nature of Partnership firm, Partnership Deed-meaning, importance.
Partners’ Capital Accounts : Fixed vs Fluctuating Capital, Division of Profit among partners, Profit and Loss Appropriation Account including past adjustments.

Unit 3 : Reconstitution of Partnership

Changes in Profit Sharing Ratio among the existing partners-Sacrificing Ratio and Gaining Ratio.
Accounting for Revaluation of Assets and Liabilities and distribution of reserves (Accumulated Profits).
Goodwill: Nature, Factors affecting and methods of valuation: Average profit, Super profit and Capitalisation methods.
Admission of a Partner: Effect of Admission of Partner, Change in Profit Sharing Ratio, Accounting Treatment for Goodwill (as per AS 10), Revaluation of Assets and Liabilities, Adjustment of Capitals.
Retirement/Death of a Partner: Change in Profit Sharing ratio, accounting treatment of Goodwill, Revaluation of Assets and Liabilities, Adjustment of Capitals. Dissolution of a partnership firm. (excluding Garner Vs Murrey and Peace Meal System).

Unit 4 : Accounting for Share Capital and Debenture

Share Capital: Meaning and Types.
Accounting for share capital: Issue and Allotment of Equity and Preference Shares; public subscription of shares : over subscription and under subscription; issue at par, premium and at discount; calls in advance, calls in arrears, issue of shares for consideration other than cash. Meaning of Private placement of shares and employee stock option plan.
Forfeiture of shares : accounting treatment, re-issue of forfeited shares.
Presentation of Share Capital in company’s Balance Sheet.
Issue of debentures at par; Premium and at discount; writing of discount and loss on issue of debentures; Issue of debentures as collatoral security; issue of debentures for consideration other than cash.
Redemption of debentures; sources : out of profits – debenture redemption reserve; out of capital-methods : lump sum payment, draw by lots, purchase in the open market and conversion (excluding cum-interest and ex-interest).

Part B : Financial Statement Analysis

Unit 5 : Analysis of Financial Statements

Financial Statements of a Company: preparation of simple balance sheet of a company in the prescribed form with major headings only.
Financial Statement Analysis: meaning, significance, limitations,
Tools for Financial Statement Analysis: Comparative Statements, Common Size Statements, Accounting Ratios: meaning and objectives, types of ratios:
Liquidity Ratios: Current Ratio, Liquid Ratio
Solvency Ratios: Debt to Equity, Proprietary Ratio
Activity Ratios: Inventory Turnover, Debtors Turnover, Working Capital Turnover, Fixed Assets Turnover,
Profitability Ratio: Gross Profit, Operating, Net Profit, Return on Investment, Earning per Share, Dividend per Share, Price Earning Ratio

Unit 6 : Cash Flow Statement

Cash Flow Statement: Meaning and objectives, preparation, adjustments related to epreciation, dividend and tax, sale and purchase of non-current assets (as per revised tandard issued by ICAI)

Unit 7 : Project Work in Accounting

(Please refer to the guidelines published by the CBSE)

Part C: Computerised Accounting

Unit 5 : Overview of Computerized Accounting System

Concept and types of Computerised Accounting System (CAS)
Features of a Computerized Accounting System
Structure of a Computerised Accounting System

Unit 6 : Accounting using Database Management System (DBMS)

Concept of DBMS
Objects in DBMS: Tables, Queries, Forms, Reports
Creating data tables for accounting
Using queries, forms and reports for generating accounting information.
Applications of DBMS in generating accounting information such as shareholders’ records, sales reports, customers’ profile, suppliers’ profile, payroll, employees’ profile, petty cash register.

Unit 7 : Accounting Applications of Electronic Spreadsheet

Concept of an Electronic Spreadsheet (ES)
Features offered by Electronic Spreadsheet
Applications of Electronic Spreadsheet in generating accounting information, preparing depreciation schedule, loan repayment schedule, payroll accouning and other such applications.

Unit 8 : Practical Work in Computerised Accounting

(Please refer to the guidelines published by the CBSE)
Recommended text books
1. Accountancy – I, Publishing by NCERT
2. Accountancy – II, Publishing by NCERT

Part A : Principles and Functions of Management

1. Introduction to Management
2. Principles of Management
3. Business Environment
4. Planning
5. Organizing
6. Staffing
7. Directing
8. Controlling

Part B : Business Finance and Marketing

9. Financial Management
10. Financial Markets
11. Marketing Management
12. Consumer Protection

Part C : Project

Part A : Principles and Functions of Management

Unit I : Nature and significance of Management

•Management - concept, objectives and importance
•Management as Science, Art and Profession.
•Levels of management
•Management functions - planning, organising, staffing, directing and controlling.
•Coordination - concept, characteristics and importance.

Unit 2 : Principles of Management

•Principles of Management - concept, nature and significance
•Fayol’s principles of management
•Taylor’s Scientific Management - principles and techniques

Unit 3 : Management and Business Environment

•Business Environment - concept and importance
•Dimensions of Business Environment - Economic, Social, Technological, Political and
•Impact of Government policy changes on business with special reference to liberalization,
privatization and globalisation in India.

Unit 4 : Planning

•Concept, importance and limitations
•Planning process
•Single use and Standing Plans - Objectives, Strategy, Policy, Procedure, Method, Rule,
Budget and Programme.

Unit 5 : Organising

•Concept and importance.
•Organizing Process.
•Structure of organization - functional and divisional.
•Formal and informal organization.
•Delegation: concept, elements and importance.
•Decentralization: concept and importance.

Unit 6 : Staffing

•Concept and importance of staffing
•Staffing as a part of Human Resource Management
•Staffing process :
• Recruitment - sources
• Selection - process
•Training and Development - Concept and importance. Methods of training- on the job
and off the job- Induction training, vestibule training, apprenticeship training and internship

Unit 7 : Directing

•Concept and importance
•Elements of Directing
•Supervision - concept, functions of a supervisor.
•Motivation - concept, Maslow’s hierarchy of needs; Financial and non-financial
•Leadership - concept, styles - authoritative, democratic and laissen faire.
•Communication - concept , formal and informal communication; barriers to effective
communication, how to overcome the barriers.

Unit 8 : Controlling

•Concept, nature and importance
•Relationship between planning and controlling
•Steps in the process of control

Part B : Business Finance and Marketing

Unit 9 : Financial Management

•Concept and objectives of financial management.
•Financial decisions : investment, financing and dividend and factors affecting.
•Financial planning - concept and importance.
•Capital Structure - concept and factors affecting.
•Fixed and Working Capital - concept and factors affecting their requirements.

Unit 10 : Financial Markets

•Financial Markets: concept and types.
•Money market and its instruments.
•Capital market and its types (primary and secondary).
•Stock Exchange - functions and training procedure. Depository Services and D'mat
•Securities and Exchange Board of India (SEBI) - objectives and functions.

Unit 11 : Marketing Management

•Marketing - concept and functions.
•Marketing management philosophies.
•Marketing Mix - concept
•Product - concept, branding, labeling and packaging.
advertising- concept, role, objections against
advertising, personal selling - concept and qualities of a good salesman, sales
promotion - concept and techniques, public relations - concept and role.

Unit 12 : Consumer Protection

•Concept and importance of consumer protection.
•Consumer Protection Act 1986
• Meaning of consumer and consumer protection.
•Rights and responsibilities of consumers
•Who can file a complaint and against whom?
• Redressal machinery.
•Remedies available.
•Consumer awareness - Role of consumer organizations and NGO's

Unit 13 : Project Work

Part A : Introductory Microeconomics

1 Introduction
2. Consumer Equilibrium and Demand
3. Producer Behaviour and Supply
4. Forms of Market and Price Determination
5. Simple applications of Tools of demand and supply

Part B : Introductory Macroeconomics

6. National Income and Related Aggregates
7. Money and Banking
8. Determination of Income and Employment
9. Government Budget and the Economy
10. Balance of Payments

Part A : Introductory Microeconomics

Unit 1 : Introduction

Meaning of microeconomics and macroeconomics
What is an economy? Central problems of an economy : what, how and for whom to produce; concepts
of production possibility frontier and opportunity cost.

Unit 2 : Consumer Equilibrium and Demand

Consumer's equilibrium – meaning of utility, marginal utility, law of diminishing marginal utility, conditions
of consumer's equilibrium using marginal utility analysis.
Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget
line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's
Demand, market demand, determinants of demand, demand schedule, demand curve, movement
along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of
demand; measurenment of price elasticity of demand – (a) percentage-change method and (b) geometric
method (linear demand curve); relationship between price elasticity of demand and total expenditure.

Unit 3 : Producer Behaviour and Supply

Production function: Total Product, Average Product and Marginal Product.
Returns to a Factor.
Cost and Revenue: Short run costs - total cost, total fixed cost, total variable cost; Average fixed cost,
average variable cost and marginal cost-meaning and their relationship.
Revenue - total, average and marginal revenue.
Producer's equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost.
Supply, market supply, determinants of supply, supply schedule, supply curve, movements along and
shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply – (a) percentagechange
method and (b) geometric method.

Unit 4 : Forms of Market and Price Determination

Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand
and supply.
Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features.

Unit 5 : Simple applications of Tools of demand and supply (not to be examined)

Part B : Introductory Macroeconomics

Unit 6 : National Income and related aggregates

Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and
flows; gross investment and depreciation.
Circular flow of income; Methods of calculating National Income – Value Added or Product method,
Expenditure method, Income method.
Aggregates related to National Income:
Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic Product
(GDP and NDP) - at market price, at factor cost; National Disposable Income (gross and net),
Private Income, Personal Income and Personal Disposable Income; Real and Nominal GDP.
GDP and Welfare

Unit 7 : Money and Banking

Money – its meaning and functions.
Supply of money – Currency held by the public and net demand deposits held by commercial banks.
Money creation by the commercial banking system.
Central bank and its functions (example of the Reserve Bank of India).

Unit 8 : Determination of Income and Employment

Aggregate demand and its components.
Propensity to consume and propensity to save (average and marginal).
Short–run equilibrium output; investment multiplier and its mechanism.
Meaning of full employment and involuntary unemployment.
Problems of excess demand and deficient demand; measures to correct them - change in government
spending, availability of credit.

Unit 9 : Government Budget and the Economy

Government budget - meaning, objectives and components.
Classification of receipts - revenue receipts and capital receipts; classification of expenditure - revenue
expenditure and capital expenditure.
Measures of government deficit - revenue deficit, fiscal deficit, primary deficit:their meaning.
Fiscal Policy and its role (non evaluative topic)

Unit 10 : Balance of Payments

Balance of payments account - meaning and components; balance of payments deficit-meaning.
Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
Determination of exchange rate in a free market.

Recommended textbooks

1. Indian Economic Development, Class XI, NCERT
2. Introductory Micro Economics, Class XII, NCERT
3. Macro Economics, Class XII, NCERT
4. Supplimentary Reading Material in Economics, Class XII, CBSE
Note : The above publications are also available in Hindi Medium

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