Recording of Transactions 3 MCQ Questions for Class 11 Accountancy Chapter 3 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 basis of recording transactions is-

(A) Vouchers
(B) Profit
(C) Order form
(D) Quotation list.


Q2. The process of recording a business transaction in the journal is called

(A) Costing
(B) Balancing
(C) Posting
(D) Journalising


Q3. A ledger is prepared from

(A) Journal
(B) None of the options
(C) Transactions
(D) Events


Q4. The Sales Book is a part of:

(A) Journal
(B) Trading A/c
(C) Balance Sheet
(D) Ledger


Q5. Amount withdrawn by proprietor for personal use will … Cash and Capital.

(A) Increase.
(B) Decrease.
(C) Not Change.
(D) None of these.


Q6. 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


Q7. Which of the following is entered in cash – book-

(A) Only cash transactions
(B) Only credit transactions
(C) Both cash and credit transactions
(D) None of these.


Q8. How many columns are there in a Ledger (in one side)

(A) Six
(B) Four
(C) Five
(D) Seven.


Q9. Which of the following account will be credited on giving cash donations?

(A) Cash A/c
(B) Purchases A/c
(C) Bank A/c
(D) Donation A/c


Q10. The following account has a debit balance

(A) Creditor’s A/c
(B) Capital A/c
(C) Building A/c
(D) Loan A/c


Q11. Withdrawal of cash from business by the proprietor is credited to

(A) Drawings A/c.
(B) Capital A/c.
(C) Cash A/c.
(D) Bank A/c.


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. Which of the following equation’s correct?

(A) Assets = Liabilities – Capital
(B) Assets = Capital – Liabilities
(C) Assets = Liabilities + Capital
(D) Assets = External Equities


Q14. Name the transaction that is recorded in both sides of Cash book simultaneously.

(A) Contra Entry
(B) Dual entry
(C) Double entry
(D) Single entry


Q15. The cash – book meant for recording petty expenses is called –

(A) Simple cash – book
(B) Petty cash – book
(C) Triple column
(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 :
1A
2D
3A
4A
5B
6A
7A
8B
9A
10C
11C
12A
13C
14A
15B

MCQ Questions for Class 11 Accountancy: Financial Accounting

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