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 - 2
Question 1:Â
Amount paid or payable against purchase of goods isÂ
(a) revenue expenditure.
(b) capital expenditure.
(c) Both (a) and (b).
(d) None of these.
Correct Answer – (A)
Question 2:Â
In accounts recording is made of :
(a)Â Only financial transactions
(b) Only non-financial transactions
(c) Financial and non-financial transactions
(d) Personal transactions of the proprietor
Correct Answer – (A)
Question 3:Â
Sale is recognised as revenue
(a) when the contract for sale is entered into.
(b) at the point of sale or performance of service.
(c) after the expiry of credit period allowed to debtors.
(d) after the money collected from the customers.
Correct Answer – (B)
Question 4:Â
Which is the last step of accounting as a process of information?Â
(a) Recording the transaction
(b) Preparation of financial statements
(c) Communication of information
(d) Analysis and interpretation of information
Correct Answer – (C)
Question 5:Â
Which of the following is revenue?Â
(a) Purchases
(b) Purchases Return
(c) Sales
(d) Salary Payable
Correct Answer – (C)
MCQ Questions Class 11 Theory Base of Accounting With Answers
Question 6:Â
Amount received or receivable against sale of goods isÂ
(a) revenue receipt.
(b) capital receipt.
(c) sometimes revenue receipt and sometimes capital receipt.
(d) None of these.
Correct Answer – (A)
Question 7:Â
Accounting is :
(a) Accounting : A Profession          Â
(b) Accounting : A Social Force
(c) Accounting : A Service Activity Â
(d) All of the above
Correct Answer – (D)
Question 8:Â
In accounts recording is made of:Â
(A) Only Financial Transactions
(B) Only Non-financial transactions
(C) Financial as well as non-financial transactions
(D) Personal transactions of the Proprietor
Correct Answer – (A)
Question 9:Â
Which of the following is not an expense?Â
(a) Furniture
(b) Salary
(c) Rent
(d) Electricity Expenses
Correct Answer – (A)
Question 10:Â
A person who owes money to a firm against goods sold is called aÂ
(a) creditor.
(b) debtor.
(c) Both (a) and (b)
(d) None of these.
