Accounts from Incomplete Records MCQ Questions for Class 11 Accountancy Chapter 11 with Answers

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All questions answers in the last paragraph


MCQ Questions for Class 11 Accountancy with Answers: Financial Accounting


Q1. Bills Payable honoured during the year will be debited to

(A) Cash Account.
(B) Bills Payable Account.
(C) Creditors Account.
(D) None of these.


Q2. Opening capital is ascertained by preparing

(A) Total debtor’s account
(B) Total creditor’s account
(C) Cash account
(D) Opening statement of affairs


Q3. Statement of affairs is a

(A) Statement of income and expenditure
(B) Statement of assets and liabilities
(C) Summary of cash transactions
(D) Summary of credit transactions


Q4. Accounts are usually held using a single entry scheme by:

(A) Society
(B) Company
(C) Sole Trader
(D) Government


Q5. A single-entry bookkeeping scheme is used

(A) Simple
(B) Unauthorized by tax authorities
(C) Unscientific
(D) all of these


Q6. Credit purchase, during the year is ascertained by preparing :

(A) Total creditor’s account
(B) Total debtor’s account
(C) Cash account
(D) Opening statement of affairs


Q7. The opening capital is ascertained by preparing

(A) Cash book
(B) Debtors
(C) Opening statement of affairs
(D) Creditors


Q8. Statement of affairs is prepared to-

(A) Know about assets
(B) Know about liabilities
(C) Calculate capital
(D) Know financial position.


Q9. When closing capital is more than opening capital, it denotes:

(A) Profit
(B) Loss
(C) No Profit no loss
(D) Profit, if there is no introduction of fresh capital


Q10. Single Entry System of book keeping is:

(A) Unscientific
(B) Unsystematic
(C) Inaccurate
(D) All of these


Q11. A system of accounting which is not based on double entry system is called-

(A) Cash system
(B) Mahajani system of accounting
(C) Incomplete accounting system
(D) None of these.


Q12. If opening capital is Rs.(i)0,000 & closing capital is Rs.(i)5,000 then profit or loss:

(A) Loss of Rs.5,000
(B) Profit of Rs.2,500
(C) Profit of Rs.5,000
(D) None of these


Q13. Normally single entry system is suitable for:

(A) Small scale business
(B) Large scale business
(C) Both of them
(D) None of them


Q14. Generally incomplete records are maintained by-

(A) Trader
(B) Society
(C) Company
(D) Government.


Q15. Single Entry System can be adopted by

(A) Small firms.
(B) Joint Stock Companies.
(C) Co-operative Societies.
(D) None of these,


We hope the given NCERT MCQ Questions for Class 11 Accountancy PDF Free Download solution will definitely help you to achieve perfect score. If you have any queries related to CBSE Class 11 Accountancy MCQs Multiple Choice Questions with Answers, drop your questions below and will get back to you in no time.

All questions answers

QUESTIONS NO : ANSWERS :
1B
2D
3C
4C
5D
6A
7C
8C
9D
10D
11C
12C
13A
14A
15A

MCQ Questions for Class 11 Accountancy: Financial Accounting

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