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.
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MCQ Questions Class 11 Recording of Transactions 1 with Answers - Set - 3
Question 1:
What are total number of subsidiary books available to record financial transactions?
(a) 8
(b) 7
(c) 6
(d) 12
Correct Answer – (A)
Question 2:
Which account will be debited in case wages are paid for installation of machinery?
(a) Machinery A/c
(b) Installation A/c
(c) Wages A/c
(d) Cash A/c
Correct Answer – (A)
Question 3:
The Sales Book is a part of:
(a) Journal
(b) Trading A/c
(c) Balance Sheet
(d) Ledger
Correct Answer – (A)
Question 4:
Anil, the Petty Cashier of Ebony, has an imprest of Rs.5,000 out of which he pays for petty expenses. He submits the details of payments every 15 days which is reimbursed to him. He submitted the details for 15 days that ended on 15th April, 2012 amounting to Rs. 4,900. He has with him unpaid expense vouchers amounting to Rs.2,200. How much amount should be paid to him?
(a) Rs.4,900
(b) Rs.5,000
(c) Rs.2,200
(d) Rs.7,100
Correct Answer – (A)
Question 5:
Which Account is opened first in ledger book-
(a) Personal
(b) Real
(c) Non – real
(d) None of these.
Correct Answer – (A)
MCQ Questions Class 11 Recording of Transactions 1 With Answers
Question 6:
Goods worth Rs.7,000 given away as charity would be credited to :
(a) Sales A/c
(b) Purchases A/c
(c) Charity A/c
(d) Trustee A/c
Correct Answer – (B)
Question 7:
While passing an opening entry, all the assets are______while all the liabilities are_____
(a) Debited , credited
(b) Credited, Credited
(c) None of the options
(d) Credited, Debited
Correct Answer – (A)
Question 8:
Anil purchased, 1,000 Add Gell Roller Pens @ Rs. 50 each less 20% Trade Discount and 3% Cash Discount if payment is made within 30 days. Anil paid Rs. 10,000 within 30 days and balance amount after 30 days period. Purchases Account will be debited and Discount Received Account will be credited respectively with
(a) Rs. 40,000, Nil.
(b) Rs. 40,000, Rs. 300.
(c) Rs. 40,000, Rs. 1,200.
(d) Rs. 40,000, Rs. 900.
Correct Answer – (A)
Question 9:
How many columns are there in a Ledger (in one side)-
(a) Six
(b) Four
(c) Five
(d) Seven.
Correct Answer – (A)
Question 10:
The balance of good’s Account is transferred to-
(a) Profit and loss Account
(b) Trading Account
(c) Balance sheet
(d) None of these.
