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.
Introduction to Accounting Class 11 MCQs Questions with Answers
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
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