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 - 3
Question 1:
If Closing Capital Rs. 40,000, with Additional Capital during the year of Rs. 30,000, Drawings of Rs. 20,000, and a loss of Rs. 60,000, so Opening Capital was:
(a) 90,000
(b) 80,000
(c) 70,000
(d) 10,000
Correct Answer – (A)
Question 2:
If closing capital is less than opening capital, it shows ________________ .
(a) Loss
(b) Profit
(c) No profit no loss
(d) Loss, if there is no introduction of fresh capital
Correct Answer – (D)
Question 3:
Generally accounts under single entry system are maintained by :
(A) Sole Trader
(B) Company
(C) Society
(D) Government
Correct Answer – (A)
Question 4:
Bills Payable honoured during the year will be debited to
(a) Cash Account.
(b) Bills Payable Account.
(c) Creditors Account.
(d) None of these.
Correct Answer – (A)
Question 5:
Single-entry systems are regularly updated by
(a) Income tax authorities
(b) Company
(c) Sole trader
(d) Government
Correct Answer – (C)
MCQ Questions Class 11 Accounts from Incomplete Records With Answers
Question 6:
From incomplete records, it is possible to prepare
(a) Ledger Accounts.
(b) Trial Balance.
(c) Statement of Affairs.
(d) None of these.
Correct Answer – (C)
Question 7:
Assets and Liabilities amount to Rs. 80,000 and Rs. 58,000 respectively, then the difference amount will represent
(a) Capital
(b) Creditors
(c) Profit
(d) Loss
Correct Answer – (A)
Question 8:
Given the opening and closing balances of debtors and the figure of credit sales, the balancing figure of Total Debtors Account will give
(a) Bills received during the year.
(b) Cash received from debtors.
(c) Closing balance of bill receivable.
(d) None of these.
Correct Answer – (B)
Question 9:
A single-entry bookkeeping scheme is used
(a) Simple
(b) Unauthorized by tax authorities
(c) Unscientific
(d) all of these
Correct Answer – (D)
Question 10:
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
