Recording of Transactions 2 MCQ Questions for Class 11 Accountancy Chapter 4 with Answers

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All questions answers in the last paragraph


MCQ Questions for Class 11 Accountancy with Answers: Financial Accounting


Q1. The first book of original entry is-

(A) Journal
(B) Ledger
(C) Trial Balance
(D) None of these.


Q2. Goods purchased on cash are recorded in the

(A) Purchases (journal) book
(B) Sales (journal) book
(C) Cash book
(D) Purchases return (journal) book


Q3. The balance in Petty Cash Book is

(A) An expense
(B) A profit
(C) A liability
(D) An asset


Q4. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?

(A) Drawings A/c
(B) Capital A/c
(C) Insurance A/c
(D) Cash A/c


Q5. The total of the Sales Book is posted to

(A) debit of the Sales Account.
(B) credit of the Sales Account.
(C) debit of the Customers’ Account.
(D) credit of Customers’ Accounts.


Q6. Balancing of account means :

(i)Total of debit side
(B) Total of credit side
(C) Difference in total of debit & credit
(D) None of these


Q7. Balancing of account means

(A) Total of debit side
(B) Total of credit side
(C) Difference in total of debit & credit
(D) None of these


Q8. Income tax is treated as-

(A) Business Expense
(B) Direct Expense
(C) Personal Expense
(D) Indirect Expense.


Q9. Return of goods by a customer is recorded in-

(A) Purchase book
(B) Sales book
(C) Sales return book
(D) Purchase return book.


Q10. Cash book does not record transaction of:

(A) Cash nature
(B) Credit nature
(C) Cash and credit nature
(D) None of these


Q11. A sale of goods to Ram for cash is debited to

(A) Ram
(B) Cash
(C) Sales
(D) Purchases


Q12. Which account will be debited in case wages are paid for installation of machinery?

(A) Machinery A/c
(B) Installation A/c
(C) Wages A/c
(D) Cash A/c


Q13. The Sales Return Book always has______balance

(A) Debit
(B) Either debit or credit
(C) Credit
(D) None of the options


Q14. If total assets of a business are ₹ 1,80,000 and net worth is ₹ 50,000, outside liability will be

(A) ₹ 1,30,000
(B) ₹ 2,30,000
(C) ₹ 1,80,000
(D) ₹ 90,000


Q15. Credit balance of bank account in cash book shows :

(A) Overdraft
(B) Cash deposited in our bank
(C) Cash withdrawn from bank
(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
2C
3D
4A
5B
6C
7C
8D
9C
10B
11B
12A
13A
14A
15A

MCQ Questions for Class 11 Accountancy: Financial Accounting

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