CBSE Class 11 Theory Base of Accounting Multiple Choice Questions with Answers. MCQ Questions Class 11 Theory Base of Accounting with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Theory Base of Accounting with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions Class 11 Theory Base of Accounting with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Theory Base of Accounting with Answers. You can also verify your answers from the provided MCQ Class 11 Theory Base of Accounting with Answers. So, ace up your preparation with MCQ of Class 11 Accountancy Examinations.
MCQ Questions Class 11 Theory Base of Accounting with Answers - Set - 1
Question 1:Â
Expenditure of revenue nature that gives benefit for more than one accounting period is categorised asÂ
(a) Capital Expenditure.
(b) Revenue Expenditure.
(c) Deferred Revenue Expenditure.
(d) None of these.
Correct Answer – (C)
Question 2:Â
During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
(a) Conservation
(b) Matching
(c) Accounting period
(d) None of the above
Correct Answer – (D)
Question 3:Â
Meaning of credibility of going concern is:
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of these.
Correct Answer – (C)
Question 4:Â
The basic accounting postulates are denoted by –
(a) Concepts
(b) Book – keeping
(c) Accounting standards
(d) None of these.
Correct Answer – (A)
Question 5:Â
The sum of Liabilities and Capital is-
(a) Expense
(b) Income
(c) Drawings
(d) Assets.
Correct Answer – (D)
MCQ Questions Class 11 Theory Base of Accounting With Answers
Question 6:Â
External users of accounting information are :
(a) Researchers     Â
(b) Government
(c) Tax authoritiesÂ
(d) All of the above
Correct Answer – (D)
Question 7:Â
During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
(a) Conservation
(b) Matching
(c) Accounting period
(d) None of the above
Correct Answer – (C)
Question 8:Â
The amount drawn by businessmen for his personal use is-
(a) Capital
(b) Drawing
(c) Expenditure
(d) Loss.
Correct Answer – (B)
Question 9:Â
In India, the accounting standard board was set up in the year-
(a) 1972
(b) 1977
(c) 1956
(d) 1932.
Correct Answer – (B)
Question 10:Â
Generally the duration of an Accounting period is of-
(a) 6 months
(b) 3 months
(c) 12 months
(d) 1 month.
