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
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.
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