MCQ Questions Class 11 Theory Base of Accounting With Answers

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.

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MCQ Questions Class 11 Theory Base of Accounting with Answers - Set - 4

Question 1:

Book Keeping is concerned with
(a) recording financial data relating to business operations.
(b) designing for systems recording, classifying and summarising recorded data.
(c) interpreting data for internal and external users.
(d) All of the above.

Check Answer

Correct Answer – (A)

Question 2:

Which of the following is a limitation of accounting?
(a) Facilitates loan
(b) Replacing Memory
(c) Window Dressing
(d) Evidence in court

Check Answer

Correct Answer – (C)

Question 3:

Sale is also known as ________
(a) Revenue from operations
(b) Profit
(c) Cost of goods sold
(d) Income

Check Answer

Correct Answer – (A)

Question 4:

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

Check Answer

Correct Answer – (C)

Question 5:

External users of accounting information are not:
(A) Lenders
(B) Officers
(C) Employees
(D) Public

Check Answer

Correct Answer – (B)

MCQ Questions Class 11 Theory Base of Accounting With Answers

Question 6:

A liability is a current liability if it satisfies
(a) It is expected to be settled in the company’s normal operating cycle
(b) It is held primarily for the purpose of being traded
(c) It is due to settled within 12 months after reporting date
(d) All of these

Check Answer

Correct Answer – (D)

Question 7:

Book-keeping is mainly concerned with :
(A) Recording of financial data
(B) Designing the systems of summarising the recorded data
(C) Interpreting the data for internal and external users
(D) Preparation of financial statements of the business enterprise

Check Answer

Correct Answer – (A)

Question 8:

Which is the last step of accounting as a process of information?
(a) Preparation of financial transaction
(b) Analysis of information
(c) Communication of information
(d) Recording the transaction

Check Answer

Correct Answer – (C)

Question 9:

Cost of Goods Manufactured is determined by
(a) Financial Accounting.
(b) Cost Accounting.
(c) Management Accounting.
(d) Human Resource Accounting.

Check Answer