CBSE Class 11 Introduction to Accounting Multiple Choice Questions with Answers. MCQ Questions Class 11 Introduction to Accounting with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Introduction to Accounting with Answers to know their preparation level.
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MCQ Questions Class 11 Introduction to Accounting with Answers - Set - 2
Question 1:
Balance of Capital Account is shown as
(a) Capital Account.
(b) Liability Account.
(c) Revenue Account.
(d) None of these.
Correct Answer – (C)
Question 2:
Which of the following limitations of accounting states that accounts may be manipulated to conceal vital facts :
(A) Accounting is not fully exact
(B) Accounting may lead to window dressing
(C) Accounting ignores price level changes
(D) Accounting ignores qualitative elements
Correct Answer – (B)
Question 3:
Which of the following will not be recorded in the books of account?
(a) Sales of goods
(b) Payment of salary
(c) Quality of staff
(d) Purchase of Goods
Correct Answer – (C)
Question 4:
Which of the following is not a long-term liability? A
(a) Creditors
(b) Term-loan
(c) Debentures
(d) Capital
Correct Answer – (A)
Question 5:
Current Liabilities include:
(A) Bills Payable
(B) Creditors
(C) Outstanding Expenses
(D) All of the above
Correct Answer – (D)
MCQ Questions Class 11 Introduction to Accounting With Answers
Question 6:
Drawings Account is a
(a) Personal Account.
(b) Real Account.
(c) Nominal Account.
(d) None of these.
Correct Answer – (A)
Question 7:
Which of the following transaction is not of financial character?
(a) Purchase of asset on credit
(b) Purchase of asset for cash
(c) Withdrawing of money by proprietor from business
(d) Strike by employees.
Correct Answer – (D)
Question 8:
Which of the following accounts has a credit balance?
(a) Carriage Inward
(b) Discount Received
(c) Carriage Outward
(d) Discount Allowed
Correct Answer – (B)
Question 9:
Basic function of financial accounting is to
(a) record all business transactions.
(b) interpret financial data.
(c) assist the management.
(d) None of these.
Correct Answer – (A)
Question 10:
Goodwill account is a
(a) Personal Account.
(b) Real Account.
(c) Nominal Account.
(d) None of these.
