MCQ Questions for Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors with Answers

Trial Balance and Rectification of Errors Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Trial Balance and Rectification of Errors Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors MCQ With Answers

Accountancy Class 11 Chapter 6 MCQs On Trial Balance and Rectification of Errors

Trial Balance MCQ Class 11 Question 1.
What kind of accuracy is tested by Trial balance-
(a) Theoritical
(b) Practical
(c) Arithmetical
(d) None of these.

Answer

Answer: (c) Arithmetical

Trial Balance Class 11 MCQ Question 2.
How many methods are there for preparing Trial Balance –
(a) One
(b) Three
(c) Four
(d) None of these.

Answer

Answer: (c) Four

MCQ Questions For Class 11 Accountancy Chapter 6 Question 3.
Which of the following is prepared on the basis of Trial Balance –
(a) Journal
(b) Ledger
(c) Final Accounts
(d) None of these.

Answer

Answer: (c) Final Accounts

MCQ Of Trial Balance Class 11 Question 4.
Of the two sides of Trial balance does not tally, which Account is opened –
(a) Suspense Account
(b) Personal Account
(c) Real Account
(d) None of these.

Answer

Answer: (a) Suspense Account

Class 11 Accounts Chapter 6 MCQ Question 5.
The error which can be disclosed by Trial balance-
(a) Error of ommission
(b) Error of principal
(c) Compensatory error
(d) None of these.

Answer

Answer: (d) None of these.

Rectification Of Errors Class 11 MCQ Question 6.
Errors are rectified in this book-
(a) Ledger book
(b) Journal proper
(c) Trial balance
(d) None of these.

Answer

Answer: (b) Journal proper

Rectification Of Errors MCQ Question 7.
Errors Committed by omitting entries in the Journal book is called –
(a) Error of commission
(b) Error of principle
(c) Error of omission
(d) None of these.

Answer

Answer: (c) Error of omission

MCQ On Rectification Of Errors Class 11 Question 8.
If the trial balance does not tally after many efforts then following Account is opened –
(a) Purchase account
(b) Suspense account
(c) Sales account
(d) None of these.

Answer

Answer: (b) Suspense account

Question 9.
Errors committed due to lack of basis principle of Accounting are called –
(a) Compensating errors
(b) Error of principle
(c) Single sided error
(d) None of these.

Answer

Answer: (b) Error of principle

Fill in the Blanks:

1. Trial balance is merely a …………… not an Account.

Answer

Answer: Statement

2. ……………. are prepared on the basis of Trial balance.

Answer

Answer: Final Accounts

3. Trial balance is a test of …………….. Accuracy.

Answer

Answer: Arithmetical

4. Generally …………… does not form a part of Trial balance.

Answer

Answer: Closing stock

5. …………… stock is not included in Trial balance.

Answer

Answer: Closing stock

6. Errors committed while totaling, balancing of Accounts are called ……………

Answer

Answer: Arithmetical errors

7. ………….. errors are disclosed by Trial balance.

Answer

Answer: Arithmetical

8. If one error nullifies the effect of another error, such errors are called …………….

Answer

Answer: Compensating errors

9. Suspense Account is a ……………. Account.

Answer

Answer: Temporary

State True or False:

1. Closing stock appears outside the trial balance.

Answer

Answer: True

2. A trial balance is not a conclusive proof of accounting accuracy.

Answer

Answer: True

3. Trial balance is a test of only Arithmetical accuary.

Answer

Answer: True

4. Trial balance helps to check the principles of Double Entry System.

Answer

Answer: True

5. Trial balance is a part of ledger.

Answer

Answer: False

6. Suspense Account is a Permanent Account.

Answer

Answer: False

7. Single sided errors are generally rectified directly in the ledger accounts before closing the accounts.

Answer

Answer: True

8. Final accounts are not affected through rectification of errors.

Answer

Answer: False

9. Single sided errors are rectified through Suspense Account.

Answer

Answer: True

Match the following:

1.

Column A Column B
1. Opening stock + purchase + Direct exp. – Closing stock (a) Suspense A/c
2. Difference of Trial balance is completely divisible by 9 (b) Compensatory error
3. Transactions completely ommitted in recording (c) Wrong entry of amount
4. Purchase A/c debited in case of furniture purchased (d) Cost of goods sold
5. One error neutralize other (e) Error of ommission
6. Difference of trial balance transferred to (f) Error of principle.
Answer

Answer:

Column A Column B
1. Opening stock + purchase + Direct exp. – Closing stock (d) Cost of goods sold
2. Difference of Trial balance is completely divisible by 9 (c) Wrong entry of amount
3. Transactions completely ommitted in recording (e) Error of ommission
4. Purchase A/c debited in case of furniture purchased (f) Error of principle.
5. One error neutralize other (b) Compensatory error
6. Difference of trial balance transferred to (a) Suspense A/c

2.

Column A Column B
1. Undercasting of purchase book (a) Temporary account
2. Machine purchased but purchase account debited (b) Double sided error
3. Suspense Account (c) Error of principle
4. Effect on two or more Accounts. (d) Arithmetical error.
Answer

Answer:

Column A Column B
1. Undercasting of purchase book (d) Arithmetical error.
2. Machine purchased but purchase account debited (c) Error of principle
3. Suspense Account (a) Temporary account
4. Effect on two or more Accounts. (b) Double sided error

Answer in one word/sentence:

1. “A Trial balance is a statement of debit and Credit Balances Extracted from the ledger with a view to test the arithmetical accuracy of the books.” Who said this?

Answer

Answer: J.R. Batliboi

2. Mention any account which can show Debit or Credit Balance.

Answer

Answer: Rent

3. Debtor’s Accounts always show which balance?

Answer

Answer: Debit

4. What Balance is shown by Drawing Account?

Answer

Answer: Debit

5. How many methods are there for preparing trial balance?

Answer

Answer: Four methods

6. Is trial balance Ultimately proof of accuracy of accounts?

Answer

Answer: No

7. What is the nature of suspense A/c ?

Answer

Answer: Fluctuating

8. The entries passed in the Journal proper for rectifying entries are called.

Answer

Answer: Rectifying entries

9. The total of purchase book was written Rs. 200 instead of Rs. 2,000. This is an example of.

Answer

Answer: Error of casting

10. When two errors nullify each others effect, then such errors are called.

Answer

Answer: Compensating errors

11. When are rectifying entries passed?

Answer

Answer: Beginning of the year

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Trial Balance and Rectification of Errors MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers

Depreciation, Provisions and Reserves Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Depreciation, Provisions and Reserves Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves MCQ With Answers

Accountancy Class 11 Chapter 7 MCQs On Depreciation, Provisions and Reserves

Depreciation MCQs Class 11 Question 1.
Which of the following methods of depreciation is not recognized by Income Tax Law?
(a) Straight line Method
(b) None of these
(c) Both, Straight Line and Diminishing Balance Methods
(d) Diminishing Balance Method

Answer

Answer: (a) Straight line Method

Depreciation Class 11 MCQ Question 2.
Asset Disposal A/c is prepared when :
(a) Provision for Depreciation A/c is prepared
(b) Asset A/c is prepared
(c) Profit & Loss A/c is prepared
(d) Depreciation A/c is prepared

Answer

Answer: (a) Provision for Depreciation A/c is prepared

MCQ Of Depreciation Class 11 Question 3.
Which of the following is the example of Capital Reserve?
(a) Workmen’s Compensation Fund
(b) None of these
(c) Premium Received on issue of shares or debentures
(d) General Reserve

Answer

Answer: (c) Premium Received on issue of shares or debentures

MCQ On Depreciation Class 11 Question 4.
Which of the following is the example of Revenue Reserve?
(a) Profit on Redemption of Debentures
(b) Profit on Revaluation of Fixed
(c) Investment Fluctuation Fund
(d) Profit on Re-issue of forfeited shares

Answer

Answer: (c) Investment Fluctuation Fund

Class 11 Depreciation MCQ Question 5.
Dividend Equalisation Reserve is :
(a) Specific Reserve
(b) None of these
(c) Secret Reserve
(d) General Reserve

Answer

Answer: (a) Specific Reserve

Depreciation MCQ With Answers Question 6.
General Reserves are shown in :
(a) Revaluation Account
(b) Profit and Loss Account
(c) None of these
(d) Balance Sheet

Answer

Answer: (d) Balance Sheet

Depreciation MCQ Class 11 Question 7.
According to Companies Act, 1956 Secret Reserves can be created by:
(a) Only Private Company
(b) Banking and insurance companies
(c) Only Public Company
(d) Companies Registered under Companies Act

Answer

Answer: (b) Banking and insurance companies

Question 8.
The loss on sale of an asset is debited to:
(a) Profit and Loss Account
(b) Trial Balance Cr. Side
(c) Balance Sheet
(d) Trading Account

Answer

Answer: (a) Profit and Loss Account

Question 9.
Depreciation is Charged on :
(a) Current Assets
(b) Fixed Tangible Assets
(c) None of these
(d) Both Current and Fixed Assets

Answer

Answer: (b) Fixed Tangible Assets

Question 10.
At the end of the year, Depreciation Account is transferred to :
(a) Balance Sheet
(b) Trading Account
(c) Profit & Loss Appropriation Account
(d) Profit & Loss Account

Answer

Answer: (d) Profit & Loss Account

Question 11.
Provision is created by debiting :
(a) Profit and Loss Account
(b) None of these
(c) Profit and Loss Appropriation Account
(d) Trading Account

Answer

Answer: (a) Profit and Loss Account

Question 12.
The cause of Depreciation is :
(a) Wear and tear
(b) Obsolescence
(c) All of these
(d) Usage of Asset

Answer

Answer: (c) All of these

Question 13.
Depreciation is a process of :
(a) Allocation
(b) Valuation
(c) None of these
(d) Depletion

Answer

Answer: (a) Allocation

Question 14.
Under Reducing Balance Method, depreciation to be charged :
(a) Scrap Value
(b) None of these
(c) Real Value
(d) Original value

Answer

Answer: (b) None of these

Question 15.
The depreciation charged on an asset will be credited to :
(a) Depreciation A/c
(b) Asset A/c
(c) Bank A/c
(d) Cash A/c

Answer

Answer: (b) Asset A/c

Question 16.
Every fixed asset loses its value due to use or other reasons. This decline in the value of asset is known as
(a) Amortization
(b) Provisions
(c) Depreciation
(d) Devaluation

Answer

Answer: (c) Depreciation
Explanation:
The fixed assets are long-term assets. They help in the production of goods and services. However, when an asset is in use its value decreases due to the normal wear and tear, efflux of time and obsolescence. This reduction in the value of a fixed asset is known as depreciation.

Question 17.
Following are the causes of Depreciation except
(a) Wear and tear due to use or passage of time.
(b) normal factors
(c) Expiration of legal rights.
(d) Obsolescence.

Answer

Answer: (b) normal factors
Explanation:
The correct option is (b).

Wear and tear due to use or passage of time means deterioration, and the consequent diminution in an assets value, arising from its use in business operations for earning revenue. Wear and tear is the physical deterioration. an asset deteriorates simply with the passage of time, even if they are not being put to any use.

Expiration of legal rights certain categories of assets lose their value after the agreement governing their use in business comes to an end after the expiry of pre-determined period.

Obsolescence is another factor leading to depreciation of fixed assets. Obsolescence means the fact of being “out-of-date”. Obsolescence implies to an existing asset becoming out-of-date on account of the availability of better type of asset.

So, only normal factors are not a cause of depreciation

Question 18.
Following are the causes of Depreciation except
(a) Natural resources
(b) Fixed asset
(c) Liabilities
(d) Intangible assets

Answer

Answer: (a) Natural resources
Explanation:
Depletion is an accrual accounting technique used to allocate the cost of extracting natural resources such as timber, minerals, and oil from the earth. Like depreciation and amortization, depletion is a non-cash expense that lowers the cost value of an asset incrementally through scheduled charges to income.

Question 19.
An alternative term used for accumulated depreciation expenses?
(a) Provision for depreciation
(b) Cumulative depreciation
(c) Targeted depreciation
(d) Depletion

Answer

Answer: (a) Provision for depreciation
Explanation:
Provision for depreciation is an alternative term used for accumulated depreciation expenses. Depreciation expense is recognized on the income statement as a non-cash expense that reduces the company’s net income.

Question 20.
Depreciation charged under diminishing method
(a) Increase every year
(b) Decrease every year
(c) Increase in one year and decrease another year
(d) Same every year

Answer

Answer: (b) Decrease every year
Explanation:
Depreciation charged by diminishing value method will decrease every year as the asset will decrease in its value every year due to obslence and wear and tear etc. So correct answer is b

Question 21.
Which of the following is not a type of reserve
(a) Provision for bad debt
(b) General reserve
(c) Workmen compensation fund
(d) Retained earnings

Answer

Answer: (a) Provision for bad debt
Explanation:
Provision for bad debts is a liability for the business and is not any reserve.

Question 22.
What is depreciation?
(a) Cost of using a fixed asset
(b) The value of asset
(c) Portion of a fixed assets cost consumed during the current accounting
(d) Cost of fixed asset’s repair

Answer

Answer: (a) Cost of using a fixed asset
Explanation:
Depreciation is the cost of using a fixed asset .It is the decrease in the value of a fixed asset due to wear and tear in the asset due to their constant use.Example- Decrease in the value of machine as they become old.

Question 23.
Depreciation helps in determining
(a) Accurate level of profit
(b) Increases the value of asset
(c) Revenue generation
(d) Increase the burden of tax

Answer

Answer: (a) Accurate level of profit
Explanation:
The purpose of depreciation is to achieve the matching principle of accounting, that is, a company is attempting to match the historical cost of a productive asset (that has a useful life of more than a year) to the revenues earned from using the asset.

Question 24.
What is the rate of charging depreciation under diminishing method?
(a) 12% p.a.
(b) 15% p.a.
(c) 10% p.a.
(d) Not fixed

Answer

Answer: (d) Not fixed
Explanation:
Under this method, the amount of depreciation is calculated as a fixed percentage of the reducing or diminishing value of the asset standing in the books at the beginning of the year, so as to bring down the book value of the asset to its residual value. The amount of depreciation goes on decreasing every year.

Question 25.
Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset
(a) Straight line method
(b) Reducing balance method
(c) Number of units produced method
(d) Machine hours method

Answer

Answer: (a) Straight line method
Explanation:
Under straight line method of depreciation the amount of depreciation expenses remains same in the entire useful life of fixed asset because, under straight line method the depreciation is charged on the original cost of the asset and not on diminishing value of the asset.

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Depreciation, Provisions and Reserves MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 15 Accounting System Using Database Management System with Answers

Accounting System Using Database Management System Class 15 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 15 Accounting System Using Database Management System with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accounting System Using Database Management System Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 15 Accounting System Using Database Management System MCQ With Answers

Accountancy Class 11 Chapter 15 MCQs On Accounting System Using Database Management System

MCQ Questions For Class 11 Accountancy Chapter 15 Question 1.
Which item purpose is to organize the record data into categories?

Answer

Answer: Sorting Data

Ch 15 Accounts Class 11 MCQ Question 2.
Which item purpose is to organize the record data into categories?

Answer

Answer: Card Sorting

MCQ Questions For Class 11 Commerce Pdf Question 3.
Which content of statements once recorded cannot be changed by the individuals?

Answer

Answer: Snapshot

MCQ On Database Management System Question 4.
State few capabilities of MS Access.

Answer

Answer: The few capabilities of MS Access are.
1. It helps in storing data in an organized way
2. Supports various views of data and information
3. Provides data sharing and different user transaction processing.

MCQ Questions On Database Management System Question 5.
Mention steps that are required to create a new database in Access.

Answer

Answer: The steps that are required to create a new database in Access are.

1. First, open the access window. Choose blank access database, and click OK button.
2. Click the displayed new file database dialogue box, this will enable the user to enter the file name and set a location for the database. Now click Create button.
3. If the task pane does not open, you can choose the file from the menu bar and click open to open a task pane and create a new database.

Accounting For Management MCQ Questions And Answers Question 6.
The need for which report is not anticipated?

Answer

Answer: Casual

MCQ Questions For Class 11 Accountancy Pdf Question 7.
Name the query that does not include the use of any inquiry function to generate a summary of data.

Answer

Answer: Simple query

MCQ On Basic Accounting Terms Class 11 Question 8.
Which query indicates an individual to access criteria for picking a collection of records.

Answer

Answer: Parameter

MCQ Questions For Class 11 Accountancy Chapter Wise Question 9.
Which clause is applied to designate the fields to represent data or information?

Answer

Answer: SELECT

MCQ On Accountancy Class 11 Question 10.
Which item is determined to add a page number, date and time of the report?

Answer

Answer: Design View

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 15 Accounting System Using Database Management System with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Accounting System Using Database Management System MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 12 Applications of Computers in Accounting with Answers

Applications of Computers in Accounting Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 12 Applications of Computers in Accounting with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Applications of Computers in Accounting Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 12 Applications of Computers in Accounting MCQ With Answers

Accountancy Class 11 Chapter 12 MCQs On Applications of Computers in Accounting

Computer Application In Accounting MCQ Pdf Question 1.
What is MIS-
(a) Management information system
(b) Micro information system
(c) Middle internet system
(d) Mass information system

Answer

Answer: (a) Management information system

MCQ Questions For Class 11 Accountancy Chapter 12 Question 2.
What is C.P.U.
(a) Central processing unit
(b) Central unit of production
(c) Central progress unit
(d) Central power unit

Answer

Answer: (a) Central processing unit

Class 11 Accountancy MCQ Pdf Question 3.
Mouse is a-
(a) Input device
(b) Output device
(c) Input and output both
(d) None of these

Answer

Answer: (a) Input device

Computer Application In Commerce MCQ Question 4.
Super computers are-
(a) Large in size and speed and storage are more than else
(b) Small in size and less speed
(c) Same size and same speed
(d) All of above

Answer

Answer: (a) Large in size and speed and storage are more than else

Computers In Accounting Class 11 Questions Question 5.
Software are:
(a) 5 types
(b) 6 types
(c) 4 types
(d) 8 types

Answer

Answer: (a) 5 types

Fill in the blanks:

1. Computer is an …………… device.

Answer

Answer: Electronic

2. Compact disk is a ………….. unit.

Answer

Answer: Input

3. Monitor is ……………. device.

Answer

Answer: Output

4. The meaning of hardware is ……………. form we can touch it.

Answer

Answer: Physical

5. In …………… programming is possible.

Answer

Answer: Software

State True or False:

1. In data base we can benefited of co – operation and unity / uniformity.

Answer

Answer: True

2. Digital computer is not done the calculation of digits.

Answer

Answer: False

3. In analog computer we can find information continuously.

Answer

Answer: True

4. The speed of super computer is less.

Answer

Answer: False

5. Computer help in accounting from Journalise, analysis to conclusion.

Answer

Answer: True

Answer in one word / sentence:

1. What is computer?

Answer

Answer: Electronic Device.

2. What is CPU?

Answer

Answer: Central processing unit.

3. Which computer is used for calculation?

Answer

Answer: Digital computer is used for calculation.

4. What is known as brain of the computer?

Answer

Answer: CPU.

5. Write the name of any two application software?

Answer

Answer: Excel
Tally.

6. Write the name of any two languages used by a computer.

Answer

Answer: BASIC
COBOL.

7. What do you mean by computerised Accounting?

Answer

Answer: When the whole accounting process is done by computers then it is called automation of accounting process or computerised Accounting.

8. What do you mean by MIS reporting?

Answer

Answer: The system which provides essential information related to different fields is known as Management Information system.

9. What do you mean by Binary system?

Answer

Answer: The system which the computer uses is called binary system. In this system the information in computer are recorded in two digits ‘0’ and ‘1’.

10. Write one difference between RAM and ROM.

Answer

Answer: RAM is temporary memory while ROM is permanent memory.

11. How many bits are there in one byte?

Answer

Answer: 8 bit.

12. How many bytes are there in 1 kilobyte?

Answer

Answer: 1024 bytes.

13. What is DBA?

Answer

Answer: Database Administration.

14. What are the language of database?

Answer

Answer: DBML, DDL.

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 12 Applications of Computers in Accounting with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Applications of Computers in Accounting MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 9 Financial Statements 1 with Answers

Financial Statements 1 Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 9 Financial Statements 1 with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Financial Statements 1 Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 9 Financial Statements 1 MCQ With Answers

Accountancy Class 11 Chapter 9 MCQs On Financial Statements 1

Question 1.
Trading Account discloses-
(a) Gross profit
(b) Net profit
(c) Net loss
(d) Gross profit or Gross loss

Answer

Answer: (d) Gross profit or Gross loss

Question 2.
Direct Expenses are entered in:
(a) Trading Account
(b) profit & Loss Account
(c) Balance sheet
(d) None of these

Answer

Answer: (a) Trading Account

Question 3.
Profit and loss Account discloses:
(a) Gross profit
(b) Gross profit or Gross loss
(c) Gross profit or Gross loss
(d) None of these

Answer

Answer: (b) Gross profit or Gross loss

Question 4.
Goodwill is a-
(a) Fixed Asset
(b) Current Asset
(c) Fictitious Asset
(d) None of these

Answer

Answer: (a) Fixed Asset

Question 5.
Drawing is deducted from:
(a) Sales
(b) Purchase
(c) Returns outward
(d) Capital

Answer

Answer: (b) Purchase

Fill in the blanks:

1. Indirect Expenses are entered in …………….. account.

Answer

Answer: Profit & loss account

2. Gross profit or loss is transferred to …………….. account.

Answer

Answer: Profit & loss account

3. ………….. accounts are prepared at the end of the year.

Answer

Answer: Final

4. Balance sheet is a ………………

Answer

Answer: Statement

5. Increase in capital at the end of the year represents ………………..

Answer

Answer: Profit

State True or False:

1. Capital is a fixed Liability.

Answer

Answer: True

2. Closing stock is not shown in balance sheet.

Answer

Answer: False

3. Balance sheet is prepared on the basis of Trial balance.

Answer

Answer: True

4. Bad debt reserve is a loss.

Answer

Answer: False

5. Interest on drawings is loss of owner.

Answer

Answer: True

Match the following:

Column A Column B
1. Goodwill (a) Profit & loss Account
2. Creditors (b) Fixed Asset
3. Building (c) Intangible Asset
4. Net profit (d) Liabilities
5. Balance sheet (e) Direct expenses
6. Cartage (f) Closing capital.
Answer

Answer:

Column A Column B
1. Goodwill (c) Intangible Asset
2. Creditors (d) Liabilities
3. Building (b) Fixed Asset
4. Net profit (a) Profit & loss Account
5. Balance sheet (f) Closing capital.
6. Cartage (e) Direct expenses

Answer in one word/sentence:

1. When cost of goods sold is deducted from net sales, we get.

Answer

Answer: Gross profit

2. The Expenses written in profit & loss Account are known as.

Answer

Answer: Indirect expenses

3. The statement of Assets & Liabilities is called.

Answer

Answer: Balance sheet

4. Give an example of current Liability.

Answer

Answer: Bank overdraft

5. In which side of balance sheet, the goods in transit are shown.

Answer

Answer: Asset side

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 9 Financial Statements 1 with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Financial Statements 1 MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 10 Financial Statements 2 with Answers

Financial Statements 2 Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 10 Financial Statements 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 Financial Statements 2 Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 10 Financial Statements 2 MCQ With Answers

Accountancy Class 11 Chapter 10 MCQs On Financial Statements 2

Question 1.
Outstanding Expenses are related to-
(a) Current year
(b) Next year
(c) Last year
(d) None of these.

Answer

Answer: (a) Current year

Question 2.
Prepaid expenses are shown in-
(a) Liability side
(b) Asset side
(c) Assets or Liability side
(d) None of these.

Answer

Answer: (b) Asset side

Question 3.
Charity of goods is-
(a) Expenses
(b) Loss
(c) Profit
(d) None of these.

Answer

Answer: (b) Loss

Question 4.
If a person fails to pay his debt, such amount is considered as-
(a) Bad debts
(b) Bad debts recovered
(c) Provision for Bad debt
(d) None of these.

Answer

Answer: (a) Bad debts

Question 5.
The object of non – trading concerns-
(a) Social service
(b) Profit earning
(c) Both of these
(d) None of the above.

Answer

Answer: (a) Social service

Question 6.
Such persons who earn remuneration against their services are called –
(a) Seller
(b) Purchaser
(c) Professional
(d) None of these.

Answer

Answer: (c) Professional

Question 7.
Which of the following is not an item of income of Non – trading concern –
(a) Entrance fees
(b) Interest
(c) Govt. Aid
(d) Salary.

Answer

Answer: (d) Salary.

Question 8.
Receipt and payment account is a summary of-
(a) Income & Expenditure account
(b) Profit & Loss A/c
(c) Cash – book
(d) None of these.

Answer

Answer: (c) Cash – book

Question 9.
Which of the following is recorded in income & expenditure account –
(a) Revenue items
(b) Capital items
(c) Revenue and capital items
(d) None of these.

Answer

Answer: (a) Revenue items

Fill in the blanks:

1. Goods given in charity is credited in …………… Account.

Answer

Answer: Purchase

2. Such Expenses which are paid in current year but are related to next year are called ……………. expenses.

Answer

Answer: Prepaid expenses

3. Accrued income is ……………. Account.

Answer

Answer: Personal account

4. There is ……………. fall in the value of Asset due to depreciation.

Answer

Answer: Constant/ gradual

5. Interest on capital is always shown in …………….. side of profit & loss A/c.

Answer

Answer: Debit

6. Unearned income is shown on the ……………….. side of balance sheet.

Answer

Answer: Liability

7. The main object of non – trading concerns is ……………….

Answer

Answer: Social service

8. The debit side of income & expenditure A/c is called ………………. side.

Answer

Answer: Expenditure

9. Non – trading concerns maintain their books according to ………………. system.

Answer

Answer: Cash

10. …………….. account is prepared with the help of cash-book.

Answer

Answer: Receipts & payment A/c

11. Only …………… item are shown in income & expenditure A/c.

Answer

Answer: Revenue

12. ……………. represents the excess of assets over liabilities.

Answer

Answer: Capital

State True or False:

1. Depreciation is charged only in case of profits.

Answer

Answer: False

2. Unearned Income is recorded in Asset side.

Answer

Answer: False

3. Interest on Capital is income for the business.

Answer

Answer: False

4. Drawing of goods is deducted from purchases.

Answer

Answer: True

5. Doctor employed with government is an example of non – trading professional.

Answer

Answer: False

6. Professional people maintain their accounts according to cash system.

Answer

Answer: True

7. Income & expenditure account reveals cash balance.

Answer

Answer: False

8. Capital items are written in Receipts & payments account.

Answer

Answer: True

9. No adjustment is made in Receipt & payment A/c.

Answer

Answer: True

Match the following:

1.

Column A Column B
1. Added to Expenses (a) Interest on Capital
2. Deduced from Expenses (b) Depreciation
3. Deducted from Assets (c) Outstanding Expenses
4. Added to capital (d) Prepaid Expenses
Answer

Answer:

Column A Column B
1. Added to Expenses (c) Outstanding Expenses
2. Deduced from Expenses (d) Prepaid Expenses
3. Deducted from Assets (b) Depreciation
4. Added to capital (a) Interest on Capital

2.

Column A Column B
1. Outstanding expense of last year (a) Balance sheet
2. Unearned income of current year (b) Opening capital
3. Hospital (c) Professional
4. Manager I Doctor / Surgeon (d) Non-trading concern
5. School/college (e) Non-trading concern.
Answer

Answer:

Column A Column B
1. Outstanding expense of last year (a) Balance sheet
2. Unearned income of current year (b) Opening capital
3. Hospital (d) Non-trading concern
4. Manager I Doctor / Surgeon (c) Professional
5. School/college (e) Non-trading concern.

Answer in one word/sentence:

1. Such Expenses for which services have been received but amount is yet to be paid are called.

Answer

Answer: Outstanding Expenses

2. Recording of relevant transactions and eliminating non – related transactions is called.

Answer

Answer: Adjustment

3. Such income which is earned but not yet received is called.

Answer

Answer: Accrued or Earned Income

4. Unearned income is recorded in which side of the balance sheet?

Answer

Answer: Liability side

5. Which statement/Account reveals the financial position of the non – trading concerns?

Answer

Answer: Balance sheet

6. “The receipts and payments account is nothing as more than the summary of the cash book” who said this?

Answer

Answer: Pickles

7. When a donor provides a continuous source of income to the concerns by endowment of property or money, such a donation is called.

Answer

Answer: Endowment fund

8. What is the nature of interest on investments?

Answer

Answer: Revenue

9. The major source of non – trading concern is.

Answer

Answer: Subscription

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 10 Financial Statements 2 with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Financial Statements 2 MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

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MCQ Questions for Class 11 Accountancy Chapter 13 Computerised Accounting System with Answers

Computerised Accounting System Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 13 Computerised Accounting System with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Computerised Accounting System Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 13 Computerised Accounting System MCQ With Answers

Accountancy Class 11 Chapter 13 MCQs On Computerised Accounting System

Computerised Accounting Facilitates Question 1.
What are the features of a computerized accounting system.
(a) It facilitates off-line input and storage of accounting data
(b) This system never fails
(c) It generates a print-out of purchase and sale invoices
(d) None of the above

Answer

Answer: (c) It generates a print-out of purchase and sale invoices

Computerized Accounting MCQ Pdf Question 2.
What is not an advantages of a computerized accounting system.
(a) High Speed
(b) High Reliability
(c) Reduced training cost
(d) None of the above

Answer

Answer: (c) Reduced training cost

Computerized Accounting MCQ Questions And Answers Pdf Question 3.
What are the types of a computerized accounting system.
(a) Ready to use Software
(b) Customized Software
(c) Tailor-made Software
(d) All of the above

Answer

Answer: (d) All of the above

Computerized Accounting MCQ Question 4.
What is the advantages of tailor-made software.
(a) These are ready made softwares
(b) Low cost
(c) High secrecy of data
(d) None of the above

Answer

Answer: (c) High secrecy of data

Question 5.
What are the factors to be considered while source accounting software?
(a) Flexibility
(b) Adaptability
(c) Interest of management
(d) Both a & B

Answer

Answer: (d) Both a & B

Question 6.
Ram want to install a computerised accounting system but his budget is low. Which software he should opt for
(a) Ready to use Software
(b) Customized Software
(c) Tailor-made Software
(d) He can buy any of above, all cost same

Answer

Answer: (a) Ready to use Software

Question 7.
If an organisation want to develop a computerised accounting system according to its need as the business of organisation is complex. Which software it should opt for
(a) Ready to use Software
(b) Customized Software
(c) Tailor-made Software
(d) Any of above

Answer

Answer: (c) Tailor-made Software

Question 8.
What are the features of computerized accounting software?
(a) storage of accounting data and on-line input
(b) instantly produces different reports
(c) group different account
(d) All of the above

Answer

Answer: (d) All of the above

Question 9.
The ……….of a vendor is also an important factor to consider while opting for a computerized accounting software
(a) Level of profit
(b) Honesty
(c) Capability
(d) None of the above

Answer

Answer: (a) Level of profit

Question 10.
A software must be easy to…….
(a) Install
(b) Adapt
(c) Understand
(d) All of the above

Answer

Answer: (d) All of the above

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MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers

Bank Reconciliation Statement Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Bank Reconciliation Statement Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 5 Bank Reconciliation Statement MCQ With Answers

Accountancy Class 11 Chapter 5 MCQs On Bank Reconciliation Statement

Brs MCQ Class 11 Question 1.
When check is not paid by the bank, it is called?
(a) Honored
(b) Endorsed
(c) Dishonored
(d) a & b

Answer

Answer: (c) Dishonored

Bank Reconciliation Statement Class 11 MCQ Question 2.
A bank reconciliation statement is prepared by?
(a) Banker
(b) Accountant of the business
(c) Auditors
(d) Registrar

Answer

Answer: (b) Accountant of the business

MCQ On Bank Reconciliation Statement Question 3.
Bank reconciliation is not a?
(a) Reconcile records
(b) Memorandum statement
(c) Ledger account
(d) Procedure to provide cash book adjustments

Answer

Answer: (c) Ledger account

Bank Reconciliation Statement MCQ Question 4.
The balance on the debit side of the bank column of cash book indicates?
(a) The total amount has drawn from the bank
(b) Cash at bank
(c) The total amount overdraft in the bank
(d) None of above

Answer

Answer: (b) Cash at bank

MCQs On Bank Reconciliation Statement Question 5.
Bank statement also called?
(a) Pass book
(b) Cash book
(c) Credit book
(d) Debit book

Answer

Answer: (a) Pass book

Bank Reconciliation Statement MCQs Class 11 Question 6.
The main purpose of preparing a bank reconciliation statement is?
(a) To know the bank balance
(b) To know the balance of bank statement
(c) To correct the cash book
(d) To identify causes of difference between cash book and bank statement

Answer

Answer: (d) To identify causes of difference between cash book and bank statement

MCQ Questions For Class 11 Accountancy Chapter 5 Question 7.
Bank reconciliation statement is?
(a) Part of bank statement
(b) Part of the cash book
(c) A separate statement
(d) a sub-division of journal

Answer

Answer: (c) A separate statement

MCQ Of Brs Class 11 Question 8.
Uncollected checks are also known as?
(a) Outstanding checks
(b) Uncleared checks
(c) Outstation checks
(d) Both b & c

Answer

Answer: (d) Both b & c

Bank Reconciliation Statement MCQs Question 9.
Favorable balance means?
(a) Credit balance in the cash book
(b) Credit balance in Bank statement
(c) Debit balance in cash book
(d) both b and c

Answer

Answer: (d) both b and c

Class 11 Accounts Chapter 5 MCQ Question 10.
Unfavorable balance means?
(a) Credit balance in the cash book
(b) Credit balance in Bank statement
(c) Debit balance in cash book
(d) Debit balance in petty cash book

Answer

Answer: (a) Credit balance in the cash book

Question 11.
Farkhanda Jabeen Ltd. receives a check for Rs. 100 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this Rs. 100. How is this shown on the bank reconciliation statement?
(a) As an uncredited deposits added to the bank statement balance
(b) As an uncredited deposits deducted from the bank statement balance
(c) As an Unpresented check added to the bank statement balance
(d) As an Unpresented check deducted from the bank statement balance

Answer

Answer: (a) As an uncredited deposits added to the bank statement balance

Question 12.
A bank reconciliation statement is prepared by?
(a) Internal auditor
(b) Business accountant
(c) Businessman
(d) All of These

Answer

Answer: (d) All of These

Question 13.
Which of the following items is not a reason for difference between bank balance as per cash book and pass book?
(a) Dishonored check
(b) Cheques deposited but not yet cleared
(c) Credit sales
(d) Cheques issued but not yet presented for payment

Answer

Answer: (c) Credit sales

Question 14.
Credit balance in bank pass book means?
(a) Bank overdraft
(b) Bank balance
(c) Balance as per cash book
(d) None

Answer

Answer: (b) Bank balance

Question 15.
A check that bears a date latter than date of issue is called?
(a) Anti dated check
(b) Post-dated check
(c) Dishonored check
(d) Outdated check

Answer

Answer: (b) Post-dated check

Question 16.
The main function of a commercial bank is to?
(a) Barrow and lend money
(b) Only barrow money
(c) Only lend money
(d) None of theses

Answer

Answer: (a) Barrow and lend money

Question 17.
When a cheque is returned by the bank showing some technical reason is known as?
(a) Honor of the cheque
(b) Balance of account
(c) Dishonor of the cheque
(d) None of these

Answer

Answer: (c) Dishonor of the cheque

Question 18.
The outstanding check is the missing entry of?
(a) Cash book
(b) Passbook
(c) both
(d) None

Answer

Answer: (b) Passbook

Question 19.
Directly collections of bank are to be ___________ in cash book?
(a) Dr
(b) Cr
(c) both
(d) None

Answer

Answer: (a) Dr

Question 20.
The cheque which is issued to creditor but is not presented for payment is called?
(a) Uncredited cheque
(b) Outstanding cheque
(c) Omitted cheque
(d) Dishonored cheque

Answer

Answer: (b) Outstanding cheque

Question 21.
A Bank Reconciliation Statement is:
(a) A part of cash book
(b) A part of pass book
(c) A statement prepared by bank
(d) A statement prepared by a customer

Answer

Answer: (d) A statement prepared by a customer

Question 22.
A pass book is a copy of
(a) A customer’s account in the bank’s books
(b) Cash book relating to bank column
(c) Cash book relating to cash column
(d) Firm’s receipts and payments

Answer

Answer: (a) A customer’s account in the bank’s books

Question 23.
A bank reconciliation statement is prepared with the balance of:
(a) Cash book
(b) Pass book
(c) Either cash book or pass book
(d) Neither cash book nor pass book

Answer

Answer: (c) Either cash book or pass book

Question 24.
Unfavourable bank balances means:
(a) Credit balance in the cash book
(b) debit balance in the pass book
(c) Debit balance in the cash book
(d) Favourable balance in the cash book

Answer

Answer: (b) debit balance in the pass book

Question 25.
The main purpose of preparing a bank reconciliation statement is?
(a) To know the bank balance
(b) To know the balance of bank statement
(c) To correct the cash book
(d) To identify causes of difference between cash book and bank statement

Answer

Answer: (d) To identify causes of difference between cash book and bank statement

Question 26.
In cash book, the favourable balance indicates
(a) Credit Balance
(b) Debit Balance
(c) Bank Overdraft
(d) Adjusted Balance

Answer

Answer: (b) Debit Balance

Question 27.
On the bank statement, cash deposited by the company is known as
(a) Credit
(b) Debit
(c) Liability
(d) Expenses

Answer

Answer: (a) Credit

Question 28.
Bank reconciliation statement compares a bank statement with _________
(a) Cash payment journal
(b) Cash receipt journal
(c) Financial statements
(d) Cashbook

Answer

Answer: (d) Cashbook

Question 29.
What is “Deposit in transit” in bank reconciliation?
(a) Added to Bank Balance
(b) Subtracted From Bank Balance
(c) Subtracted From the Cash Book Balance
(d) Added to Cashbook Balance

Answer

Answer: (a) Added to Bank Balance

Question 30.
‘NSF’ marked in cheque sent back by the bank indicates
(a) Cheque has been forged
(b) A bank couldn’t verify the identity
(c) No sufficient money
(d) A cheque cannot be cashed because it’s illegal

Answer

Answer: (c) No sufficient money

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MCQ Questions for Class 11 Accountancy Chapter 3 Recording of Transactions 1 with Answers

Recording of Transactions 1 Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 3 Recording of Transactions 1 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 1 Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 3 Recording of Transactions 1 MCQ With Answers

Accountancy Class 11 Chapter 3 MCQs On Recording of Transactions 1

Question 1.
The Mathematical Expression defining the comparative relationship between Assets and Liabilities of any person, institution or Business concern is called-
(a) Accounting
(b) Accounting Equation
(c) Book – keeping
(d) None of these.

Answer

Answer: (b) Accounting Equation

Question 2.
Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
(a) Creditors
(b) Debentures
(c) Profit
(d) Capital.

Answer

Answer: (d) Capital.

Question 3.
The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list.

Answer

Answer: (a) Vouchers

Question 4.
As per American Belief, Accounts are of how many types-
(a) Two
(b) Three
(c) Five
(d) Four.

Answer

Answer: (c) Five

Question 5.
Which of the following is entered in cash – book-
(a) Only cash transactions
(b) Only credit transactions
(c) Both cash and credit transactions
(d) None of these.

Answer

Answer: (a) Only cash transactions

Question 6.
Cash – book always show-
(a) Debit balance
(b) Credit balance
(c) Debit or Credit balance
(d) None of these.

Answer

Answer: (a) Debit balance

Question 7.
The cash – book meant for recording petty expenses is called –
(a) Simple cash – book
(b) Petty cash – book
(c) Triple column
(d) None of these.

Answer

Answer: (b) Petty cash – book

Question 8.
The entry which affects cash and bank column of a triple column cash – book is known as –
(a) Compound entry
(b) Contra entry
(c) Journal entry
(d) None of these.

Answer

Answer: (b) Contra entry

Question 9.
What statement is used while closing a Drawing Account-
(a) Balance c/d
(b) By Trading A/c
(c) By P & L A/c
(d) By Capital Account.

Answer

Answer: (d) By Capital Account.

Question 10.
The entry which is passed for bringing forward the balances of personal and Real Account as shown in the last year’s balance sheet is called –
(a) Closing entry
(b) Journal entry
(c) Opening entry
(d) None of these.

Answer

Answer: (c) Opening entry

Question 11.
The balance of good’s Account is transferred to-
(a) Profit and loss Account
(b) Trading Account
(c) Balance sheet
(d) None of these.

Answer

Answer: (b) Trading Account

Question 12.
Which Account is opened first in ledger book-
(a) Personal
(b) Real
(c) Non – real
(d) None of these.

Answer

Answer: (a) Personal

Question 13.
How many columns are there in a Ledger (in one side)-
(a) Six
(b) Four
(c) Five
(d) Seven.

Answer

Answer: (b) Four

Fill in the blanks:

1. Only …………… transactions are recorded in cash – book.

Answer

Answer: Cash

2. Cash – book is a main book as well as …………… book.

Answer

Answer: Subsidiary

3. …………. entry is passed in triple column cash – book for depositing cash in bank.

Answer

Answer: Contra

4. Advancing money to petty cashier is called ……………

Answer

Answer: Float

5. Contra entry is made in …………… book.

Answer

Answer: Cash

6. Ledger posting is done on the basis of ……………..

Answer

Answer: Journal book and Subsidiary book

7. …………… of transaction is not written in Ledger Account.

Answer

Answer: Narration

8. The recording of page number from subsidiary books to Ledger book and vice versa is called ……………..

Answer

Answer: Folioing

9. The balance of Income and Expenditure Accounts is transferred to ……………..

Answer

Answer: Profit and loss Account.

State True or False:

1. Assets = Liabilities – Capital.

Answer

Answer: False

2. The sum of Assets is equal to the sum of liabilities.

Answer

Answer: True

3. Capital Account represents owner’s Account in Business.

Answer

Answer: True

4. Assets – Liabilities = Capital.

Answer

Answer: True

5. No need of voucher to be written.

Answer

Answer: False

6. Cash – book is only a subsidiary book.

Answer

Answer: False

7. When a cheque is received, it is recorded in both sides of cash – book?

Answer

Answer: False

8. Cash – book always shows debit balance.

Answer

Answer: True

9. The cash balance as per cash-book is tallied daily with the physical cash balance.

Answer

Answer: True

10. The word ‘By’ should be used always while making and entry in debit side of an account.

Answer

Answer: False

11. The debit balance of personal accounts denotes debtors.

Answer

Answer: True

12. The balance of goods accounts is transferred to trading account.

Answer

Answer: True

13. Ledger book does not possess legal acceptability.

Answer

Answer: False

14. In ledger narration is not required.

Answer

Answer: False

Match the following:

1.

Column A Column B
1. Increase of Assets & Liabilities (a) Investment of capital in business.
2. Decrease of Assets and Liabilities (b) Drawings or Expenses.
3. Increase of Capital and Assets (c) Payment of Liabilities.
4. Decrease of Capital and Assets (d) Credit purchase of Assets.
Answer

Answer:

Column A Column B
1. Increase of Assets & Liabilities (d) Credit purchase of Assets.
2. Decrease of Assets and Liabilities (c) Payment of Liabilities.
3. Increase of Capital and Assets (a) Investment of capital in business.
4. Decrease of Capital and Assets (b) Drawings or Expenses.

2.

Column A Column B
1. Amount withdrawn from bank (a) Credit
2. Petty cash book (b) Debit
3. Balance of cash-book (c) Contra entry
4. Bank overdraft (d) Petty cashier.
Answer

Answer:

Column A Column B
1. Amount withdrawn from bank (c) Contra entry
2. Petty cash book (d) Petty cashier.
3. Balance of cash-book (b) Debit
4. Bank overdraft (a) Credit

Answer in one word/sentence:

1. The book used for recording cash and bank related transactions is.

Answer

Answer: Double column cash – book

2. Which book is maintained to record day – to – day expenses?

Answer

Answer: Petty cash – book

3. Mention any transaction for which contra entry will be done.

Answer

Answer: Cash deposited in bank

4. Which side of cash – book records all cash payments?

Answer

Answer: Credit side.

5. The book in which accounts relating to person, goods, income and expenditure is maintained and transactions are recorded is called.

Answer

Answer: Ledger book

6. On which date account are closed?

Answer

Answer: Last day of the month or year

7. Sales account always shows which balance?

Answer

Answer: Credit balance

8. The process of totaling the debit and credit side of a ledger account is called.

Answer

Answer: Closing of account.

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MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers

Theory Base of Accounting Class 11 MCQ Online Test With Answers Questions

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

Class 11 Accountancy Chapter 2 Theory Base of Accounting MCQ With Answers

Accountancy Class 11 Chapter 2 MCQs On Theory Base of Accounting

Theory Base Of Accounting Class 11 MCQ Question 1.
Generally the duration of an Accounting period is of-
(a) 6 months
(b) 3 months
(c) 12 months
(d) 1 month.

Answer

Answer: (c) 12 months

MCQ Questions For Class 11 Accountancy Chapter 2 Question 2.
The sum of Liabilities and Capital is-
(a) Expense
(b) Income
(c) Drawings
(d) Assets.

Answer

Answer: (d) Assets.

Basis Of Accounting Class 11 MCQ Question 3.
In India, the accounting standard board was set up in the year-
(a) 1972
(b) 1977
(c) 1956
(d) 1932.

Answer

Answer: (b) 1977

Class 11 Accountancy Chapter 2 MCQ Question 4.
The basic accounting postulates are denoted by –
(a) Concepts
(b) Book – keeping
(c) Accounting standards
(d) None of these.

Answer

Answer: (a) Concepts

Ch 2 Accounts Class 11 MCQ Question 5.
The amount drawn by businessmen for his personal use is-
(a) Capital
(b) Drawing
(c) Expenditure
(d) Loss.

Answer

Answer: (b) Drawing

Chapter 2 Accounts Class 11 MCQ Question 6.
Meaning of credibility of going concern is:
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of these.

Answer

Answer: (c) Continuing of business

Fill in the blanks:

1. …………… is a document that verifies the business transaction.

Answer

Answer: Voucher

2. The existence of business is different from its ………………

Answer

Answer: Owner

3. ……………. has been applied on accountants by accounting standard board, law or professional institutions.

Answer

Answer: Code of conduct

4. ……………. aspects are affected in every transaction.

Answer

Answer: Two

Answer in one word/sentence:

1. When was Indian Accounting standard board formed?

Answer

Answer: 21 st April, 1977

2. “The rules and conventions of accounting are commonly referred to as principles.” Who said it?

Answer

Answer: R.N. Anthony

3. On what basis accounting principles are developed?

Answer

Answer: Accounting Conventions & Concepts

4. Which concept denotes that the existence of business is separate from its owner?

Answer

Answer: Business entity concept.

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Theory Base of Accounting MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 11 Accountancy With Answers MCQ:

MCQ Questions for Class 11 Accountancy Chapter 1 Introduction to Accounting with Answers

Introduction to Accounting Class 11 MCQ Online Test With Answers Questions

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 1 Introduction to Accounting with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Introduction to Accounting Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Class 11 Accountancy Chapter 1 Introduction to Accounting MCQ With Answers

Accountancy Class 11 Chapter 1 MCQs On Introduction to Accounting

Introduction To Accounting Class 11 MCQ Question 1.
The art of recording all business transactions in a systematic manner in a set of books is called-
(a) Accounting
(b) Book – keeping
(c) Ledger
(d) None of these.

Answer

Answer: (b) Book – keeping

MCQ Questions For Class 11 Accountancy Chapter 1 Question 2.
The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –
(a) Book – keeping
(b)Accounting
(c) Journalizing
(d) None of these.

Answer

Answer: (b) Accounting

MCQ Of Accountancy Class 11 Chapter 1 Question 3.
Cash, goods or assets invested by the proprietor in the business for earning profit is called-
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these.

Answer

Answer: (b) Capital

Ch 1 Accounts Class 11 MCQ Question 4.
The person, firm or institution who does not pay the price in cash for the goods purchased or the services received is called-
(a) Creditor
(b) Proprietor
(c) Debtor
(d)None of these.

Answer

Answer: (c) Debtor

Chapter 1 Accounts Class 11 MCQ Question 5.
Book – keeping is-
(a) An art
(b) A science
(c) An art and science both
(d) None of these.

Answer

Answer: (c) An art and science both

Fill in the blanks:

1. The document certifying the purchase or sale of goods or any monetary transaction is called …………….

Answer

Answer: Voucher

2. The thing which is purchased and sold in the business is called …………….

Answer

Answer: Goods

3. The things or properties which helps in smooth functioning of the business and which are owned by the business are called ……………. of the business.

Answer

Answer: Assets

4. The unsold goods left at the end of the year is called ……………..

Answer

Answer: Closing stock

5. …………… represents the excess of assets over liabilities.

Answer

Answer: Capital

State True or False:

1. Trade discount is given on credit transactions only.

Answer

Answer: False

2. Furniture purchased by a Trader dealing in Furniture will be treated as ‘purchases’ for him.

Answer

Answer: True

3. Cash is a Fixed Asset of a Business.

Answer

Answer: False

4. The goods invested at the commencement of the business is called closing stock.

Answer

Answer: False

Match the Following

Column A

Column B
1. Building (a) Debit
2. Salary (b) Credit
3. Left side (c) Asset
4. Right side (d) Expense
5. Vouchers (e) Written document.
Answer

Answer:

Column A

Column B
1. Building (c) Asset
2. Salary (d) Expense
3. Left side (a) Debit
4. Right side (b) Credit
5. Vouchers (e) Written document.

Answer in one word/sentence:

1. Any legal activity performed for earning profit is called.

Answer

Answer: Business

2. The head under which transactions pertaining to a person, institution, firm, expenses, assets etc. is recorded is called.

Answer

Answer: Account

3. The system in which only one aspect of the transaction is recorded is called.

Answer

Answer: Single entry system

4. The concession given on cash transactions is called.

Answer

Answer: Cash discount

We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 1 Introduction to Accounting with Answers Pdf free download will help you. If you have any queries regarding CBSE Class 11 Accountancy Introduction to Accounting MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.

Class 11 Accountancy With Answers MCQ: