CBSE Class 11 Recording of Transactions 1Â Multiple Choice Questions with Answers. MCQ Questions Class 11 Recording of Transactions 1Â with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Recording of Transactions 1Â with Answers to know their preparation level.
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MCQ Questions Class 11 Recording of Transactions 1 with Answers - Set - 5
Question 1:Â
A ledger is called a book of____
(a) Secondary entry
(b) Primary entry
(c) Final entry
(d) None of the options
Correct Answer – (A)
Question 2:Â
Books of Account are written on the basis of Â
(a) Source Document.
(b) Accounting Vouchers.
(c) Both (a) and (b).
(d) None of these.
Correct Answer – (B)
Question 3:Â
In Journal Proper, only_____discount is recorded.|
(a) Cash
(b) Trade
(c) None of the options
(d) Both Cash and Trade
Correct Answer – (A)
Question 4:Â
Name an asset which is also a liability?
(a) Cash at bank
(b) Cash in hand
(c) Furniture
(d) Machinery
Correct Answer – (A)
Question 5:Â
The balance in Petty Cash Book is______
(a) An asset
(b) An expense
(c) A liability
(d) A profit
Correct Answer – (A)
MCQ Questions Class 11 Recording of Transactions 1 With Answers
Question 6:Â
Rent of proprietor’s house paid from account on cash will Â
(a) Decrease the profit
(b) Increase the profit
(c) Reduce the capital of business
(d) Reduce the cash as well as capital of the business
Correct Answer – (D)
Question 7:Â
Voucher is prepared for Â
(a) Cash and Credit purchases.
(b) Cash and Credit sales,
(c) Cash received and paid.
(d) All of these.
Correct Answer – (D)
Question 8:Â
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
Correct Answer – (A)
Question 9:Â
Real accounts are related to Â
(a) Assets
(b) Expenses, losses and incomes
(c) Debtors, Creditors etc.
(d) None of them
Correct Answer – (A)
Question 10:Â
Cash Discount received is recorded in the books of account as follows:Â Â
(а) Cash Discount is credited to Discount Received Account.
(б) Cash Discount is reduced from the Invoice Price.
(c) Cash Discount is debited to Discount Allowed Account.
(d) Any of (a) and (b).
