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.
Theory Base of Accounting Class 11 MCQs Questions with Answers
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: (c) 12 months
MCQ Questions For Class 11 Accountancy Chapter 2 Question 2.
The sum of Liabilities and Capital is-
Answer: (d) Assets.
Basis Of Accounting Class 11 MCQ Question 3.
In India, the accounting standard board was set up in the year-
Answer: (b) 1977
Class 11 Accountancy Chapter 2 MCQ Question 4.
The basic accounting postulates are denoted by –
(b) Book – keeping
(c) Accounting standards
(d) None of these.
Answer: (a) Concepts
Ch 2 Accounts Class 11 MCQ Question 5.
The amount drawn by businessmen for his personal use is-
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: (c) Continuing of business
Fill in the blanks:
1. …………… is a document that verifies the business transaction.
2. The existence of business is different from its ………………
3. ……………. has been applied on accountants by accounting standard board, law or professional institutions.
Answer: Code of conduct
4. ……………. aspects are affected in every transaction.
Answer in one word/sentence:
1. When was Indian Accounting standard board formed?
Answer: 21 st April, 1977
2. “The rules and conventions of accounting are commonly referred to as principles.” Who said it?
Answer: R.N. Anthony
3. On what basis accounting principles are developed?
Answer: Accounting Conventions & Concepts
4. Which concept denotes that the existence of business is separate from its owner?
Answer: Business entity concept.
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