CBSE Class 11 Accounts from Incomplete Records Multiple Choice Questions with Answers. MCQ Questions Class 11 Accounts from Incomplete Records with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Accounts from Incomplete Records with Answers to know their preparation level.
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MCQ Questions Class 11 Accounts from Incomplete Records with Answers - Set - 2
Question 1:
If the capital at the end of the year is Rs. 40,000, the capital introduced during the year is Rs. 30,000, the year’s drawings are Rs. 20,000, and the year’s loss is Rs. 60,000, so the capital at the start of the year was:
(a) 10,000
(b) 80,000
(c) 70,000
(d) 90,000
Correct Answer – (D)
Question 2:
Profit = Capital at the end +………… – Capital introduced – Capital in the beginning.
(a) Sales.
(b) Drawings.
(c) Net Purchases.
(d) None of these.
Correct Answer – (B)
Question 3:
Sales are calculated by adding
(a) Cash sales and cash received from debtors.
(b) Credit sales and cash received from debtors.
(c) Cash sales and credit sales.
(d) None of the above.
Correct Answer – (C)
Question 4:
When closing capital exceeds opening capital, this means:
(a) Profit
(b) Profit, if there is no introduction of fresh capital
(c) No Profit no Loss
(d) Loss
Correct Answer – (B)
Question 5:
Single Entry System of book keeping is:
(a) Unscientific
(b) Unsystematic
(c) Inaccurate
(d) All of these
Correct Answer – (D)
MCQ Questions Class 11 Accounts from Incomplete Records With Answers
Question 6:
Single Entry System can be adopted by
(a) Small firms.
(b) Joint Stock Companies.
(c) Co-operative Societies.
(d) None of these,
Correct Answer – (A)
Question 7:
When closing capital falls short of opening capital, it means:
(a) Profit
(b) Loss, if there is no drawing
(c) Loss
(d) None of the above
Correct Answer – (B)
Question 8:
In case of net worth method of Single Entry System, profit is ascertained by
(a) comparing the capital in the beginning of the accounting period and the capital at the end of the accounting period.
(b) Preparing a Profit and Loss Account.
(c) Preparing a Balance Sheet.
(d) None of these.
Correct Answer – (A)
Question 9:
Single Entry System of book keeping is :
(A) Inaccurate
(B) Unsystematic
(C) Unscientific
(D) All of these
Correct Answer – (D)
Question 10:
Accounts are usually held using a single entry scheme by:
(a) Society
(b) Company
(c) Sole Trader
(d) Government
