MCQ Questions for Class 11 Accountancy Chapter 4 Recording of Transactions 2 with Answers

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 4 Recording of Transactions 2 with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Recording of Transactions 2 Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 4 Recording of Transactions 2 MCQ With Answers

Accountancy Class 11 Chapter 4 MCQs On Recording of Transactions 2

MCQ Questions For Class 11 Accountancy Chapter 4 Question 1.
The first book of original entry is-
(a) Journal
(b) Ledger
(c) Trial Balance
(d)None of these.

Answer

Answer: (b) Ledger

Class 11 Accounts Chapter 4 MCQ Question 2.
‘Drawings’ falls under which account-
(a) Personal account
(b) Real account
(c) Nominal account
(d) None of these.

Answer

Answer: (a) Personal account

Chapter 4 Accounts Class 11 MCQ Question 3.
Income tax is treated as-
(a) Business Expense
(b) Direct Expense
(c) Personal Expense
(d) Indirect Expense.

Answer

Answer: (d) Indirect Expense.

Ch 4 Accounts Class 11 MCQ Question 4.
A cheque on which two parallel lines are drawn in the left top corner is called –
(a) Bearer cheque
(b) Traveller’s cheque
(c) Account payee cheque
(d) None of these.

Answer

Answer: (c) Account payee cheque

Class 11 Accountancy Chapter 4 MCQ Question 5.
Cash purchase of goods is recorded in-
(a) Purchase book
(b) Sales book
(c) Cash – book
(d) None of these.

Answer

Answer: (c) Cash – book

Question 6.
Credit purchase of furniture shall be recorded in-
(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.

Answer

Answer: (b) Journal book

Question 7.
Who prepares a debit note-
(a) Seller
(b) Purchaser
(c) Cashier
(d) None of these.

Answer

Answer: (b) Purchaser

Question 8.
Return of goods by a customer is recorded in-
(a) Purchase book
(b) Sales book
(c) Sales return book
(d) Purchase return book.

Answer

Answer: (c) Sales return book

Fill in the blanks:

1. The amount which cannot be recovered from debtors is called ……………..

Answer

Answer: Bad debts

2. The account in which amount can be deposited or withdrawn daily and which allows no interest on deposit is called ……………..

Answer

Answer: Current account

3. The discount allowed on cash transactions is called ……………..

Answer

Answer: Cash discount

4. Sales account always shows …………….. balance.

Answer

Answer: Credit

5. The purchase of packing material along with goods purchased is recorded in ……………

Answer

Answer: Purchase book

6. Such transactions for which no separate subsidiary books are maintained are recorded in ……………..

Answer

Answer: Journal book

7. Sub – division of Journal is called …………….

Answer

Answer: Subsidiary book

8. Credit note is sent to …………….

Answer

Answer: Purchaser

State True or False:

1. Weekly information is sought from the subsidiary books.

Answer

Answer: False

2. Drawings account is a personal account.

Answer

Answer: True

3. Purchase account is always debited.

Answer

Answer: False

4. Order for sending goods is not a business transaction.

Answer

Answer: True

5. Cash A/c is a real A/c.

Answer

Answer: True

6. Purchase book is a principle book.

Answer

Answer: False

7. Preparation of sales account is not essential when sales book is maintained.

Answer

Answer: False

8. Goods received on consignment is recorded in purchase book.

Answer

Answer: False

9. Cash sale of asset is recorded in main journal book.

Answer

Answer: False

Match the following:

1.

Column A Column B
1. Asset (a) Bank
2. Personal account (b) Furniture
3. income tax (c) Real account
4. Asset installation expense (d) Personal account.
Answer

Answer:

Column A Column B
1. Asset (b) Furniture
2. Personal account (a) Bank
3. income tax (d) Personal account.
4. Asset installation expense (c) Real account

2.

Column A Column B
1. Debit note (a) Purchase book
2. Credit note (b) Principle book/journal book
3. Credit sale of asset (c) Purchaser
4. Cash purchase of asset (d) Seller
5. Credit purchase of goods (e) Cash-book.
Answer

Answer:

Column A Column B
1. Debit note (c) Purchaser
2. Credit note (d) Seller
3. Credit sale of asset (b) Principle book/journal book
4. Cash purchase of asset (e) Cash-book.
5. Credit purchase of goods (a) Purchase book

Answer in one word/sentence:

1. Under how many heads, the accounts have been categorised for the purpose of recording transactions in Journal?

Answer

Answer: Three

2. When a single journal entry is passed for two transactions of same nature on same date, such an entry is called?

Answer

Answer: Compound entry

3. Give an example of intangible asset?

Answer

Answer: Goodwill

4. The discount which is offered to increase sale and attract customers is called?

Answer

Answer: Trade discount

5. Mention the transaction which is not recorded in purchase book?

Answer

Answer: Cash transaction

6. Credit sale of goods is recorded in which book?

Answer

Answer: Sales book

7. Interest on capital is recorded in which subsidiary book?

Answer

Answer: Journal book

8. Which discount is recorded in purchase and sales book?

Answer

Answer: Trade discount

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