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 - 3
Question 1:
Which of the following is not an internal user of financial statements?
(a) Board of Directors
(b) Managers
(c) Employees
(d) Lenders
Correct Answer – (D)
Question 2:
Current assets do not include:
(A) Debtors
(B) Motor Car
(C) Bank Balance
(D) Prepaid Expenses
Correct Answer – (B)
Question 3:
If accounting information is based on facts and it is verifiable by documents it has the quality of ______________ .
(A) Relevance
(B) Reliability
(C) Understandability
(D) Comparability
Correct Answer – (B)
Question 4:
The thing which is purchased and sold in the business is called …………….
(a) Machine
(b) Furniture
(c) Goods
(d) Debtor
Correct Answer – (C)
Question 5:
Which external user of accounting information is most interested in knowing the long-term solvency position of the firm?
(a) Employees
(b) Management
(c) Bank and Financial Institutions
(D) Researchers
Correct Answer – (C)
MCQ Questions Class 11 Introduction to Accounting With Answers
Question 6:
Tangible Assets do not include: A
(A) Goodwill
(B) Furniture
(C) Stock
(D) Cash
Correct Answer – (A)
Question 7:
Which of the following is not a qualitative characteristic of accounting information?
(a) Reliability
(b) Understandability
(c) Comparability
(d) Materiality
Correct Answer – (D)
Question 8:
Purchase refers to the purchase of
(a) goods for resale.
(b) stationery for office use.
(c) assets for the factory.
(d) None of the above.
Correct Answer – (A)
Question 9:
Sundry Creditors Account is a
(a) Revenue Account.
(b) Capital Account.
(c) Liability Account.
(d) None of these.
Correct Answer – (C)
Question 10:
Out of the following assets, which one is not an intangible asset?
(a) Machinery
(b) Patents
(c) Goodwill
(d) Trade Mark
