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 - 1
Question 1:
Use of common unit of measurement and common format of reporting promotes
(a) Comparability
(b) Understandability
(c) Relevance
(d) Reliability
Correct Answer – (A)
Question 2:
Which is the last step of accounting as a process of information?
(a) Recording of data in the books of accounts
(b) Preparation of summaries in the form of financial statements
(c) Communication of information
(d) Analysis and interpretation of information
Correct Answer – (C)
Question 3:
Which of the following is not a business transaction?
(a) Bought furniture of Rs. 10,000 for business
(b) Paid for salaries of employees Rs. 5,000
(c) Paid sons fees from her personal bank account Rs. 20,000
(d) Paid sons fees from the business Rs. 2,000
Correct Answer – (C)
Question 4:
The person, firm or institution who does not pay the price in cash for the goods purchased or the services received is called-
(a) Creditor
(b) Proprietor
(c) Debtor
(d)None of these.
Correct Answer – (C)
Question 5:
The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –
(a) Book – keeping
(b) Accounting
(c) Journalizing
(d) None of these.
Correct Answer – (B)
MCQ Questions Class 11 Introduction to Accounting With Answers
Question 6:
Which qualitative characteristics of accounting information is reflected when accounting information is clearly presented?
(a) Understandability
(b) Relevance
(c) Comparability
(d) Reliability
Correct Answer – (A)
Question 7:
Deepti wants to buy a building for her business today. Which of the following is the relevant data for his decision?
(a) Similar business acquired the required building in 2000 for Rs. 10,00,000
(b) Building cost details of 2003
(c) Building cost details of 1998
(d) Similar building cost in August, 2005 Rs. 25,00,000
Correct Answer – (A)
Question 8:
Book – keeping is-
(a) An art
(b) A science
(c) An art and science both
(d) None of these.
Correct Answer – (C)
Question 9:
Cash, goods or assets invested by the proprietor in the business for earning profit is called-
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these.
Correct Answer – (B)
Question 10:
The art of recording all business transactions in a systematic manner in a set of books is called-
(a) Accounting
(b) Book – keeping
(c) Ledger
(d) None of these.
