MCQ Questions Class 11 Recording of Transactions 1-2

MCQ Questions Class 11 Recording of Transactions 1 With Answers

CBSE Class 11 Recording of Transactions 1 Multiple Choice Questions with Answers. MCQ Questions Class 11 Recording of Transactions 1 with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Recording of Transactions 1 with Answers to know their preparation level.

Students who are searching for NCERT MCQ Questions Class 11 Recording of Transactions 1 with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Recording of Transactions 1 with Answers. You can also verify your answers from the provided MCQ Class 11 Recording of Transactions 1 with Answers. So, ace up your preparation with MCQ of Class 11 Accountancy Examinations.

MCQ Questions Class 11 Recording of Transactions 1 with Answers - Set - 2

Question 1: 

The entry which is passed for bringing forward the balances of personal and Real Account as shown in the last year’s balance sheet is called-
(a) Closing entry
(b) Journal entry
(c) Opening entry
(d) None of these.

Correct Answer – (C)

Question 2: 

The entry which affects cash and bank column of a triple column cash – book is known as-
(a) Compound entry
(b) Contra entry
(c) Journal entry
(d) None of these.

Correct Answer – (B)

Question 3: 

Cash – book always show-
(a) Debit balance
(b) Credit balance
(c) Debit or Credit balance
(d) None of these.

Correct Answer – (A)

Question 4: 

As per American Belief, Accounts are of how many types-
(a) Two
(b) Three
(c) Five
(d) Four.

Correct Answer – (C)

Question 5: 

Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
(a) Creditors
(b) Debentures
(c) Profit
(d) Capital.

Correct Answer – (D)

MCQ Questions Class 11 Recording of Transactions 1 With Answers

Question 6: 

What statement is used while closing a Drawing Account-
(a) Balance c/d
(b) By Trading A/c
(c) By P & L A/c
(d) By Capital Account.

Correct Answer – (D)

Question 7: 

The cash – book meant for recording petty expenses is called-
(a) Simple cash – book
(b) Petty cash – book
(c) Triple column
(d) None of these.

Correct Answer – (B)

Question 8: 

Which of the following is entered in cash – book-
(a) Only cash transactions
(b) Only credit transactions
(c) Both cash and credit transactions
(d) None of these.

Correct Answer – (A)

Question 9: 

The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list.

Correct Answer – (A)

Question 10: 

The Mathematical Expression defining the comparative relationship between Assets and Liabilities of any person, institution or Business concern is called-
(a) Accounting
(b) Accounting Equation
(c) Book – keeping
(d) None of these.

Correct Answer – (B)
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