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 - 5

Question 1:

Which of the following is an asset?
(a) Machinery
(b) Purchases
(c) Sales Return
(d) Interest Received

Check Answer

Correct Answer – (A)

Question 2:

Which of the following transactions is of a financial character and will be recorded in the business?
(A) Goods taken from the business by the proprietor for her personal use
(B) Interviewing the candidates for employment
(C) Sale of Household furniture Rs.5,000
(D) Received an order for sales of goods

Check Answer

Correct Answer – (A)

Question 3:

Which of the following is a limitation of accounting?
(a) Assistance to Management
(b) Replaces Memory
(c) Unrealistic Information
(d) Evidence in Court

Check Answer

Correct Answer – (C)

Question 4:

The expense that has been incurred but has not been paid are called
(a) Prepaid expenses
(b) Outstanding expenses
(c) Loss
(d) Revenue

Check Answer

Correct Answer – (B)

Question 5:

Which of the following is a business transaction?
(a) Goods purchased on credit.
(b) An employee being dismissed.
(c) Proprietor purchasing a car for own use.
(d) Sale of personal asset by the proprietor.

Check Answer

Correct Answer – (A)

MCQ Questions Class 11 Theory Base of Accounting With Answers

Question 6:

business can make contribution to the society & environment by
i) Using foreign raw materials in production
ii) Using local raw materials in production
iii) Giving scholarship among poor & meritorious students
Which one is correct?
(a) ii
(b) ii & iii
(c) i & ii
(d) i & iii

Check Answer

Correct Answer – (B)

Question 7:

Amount paid in advance for a particulars expense is known as ______________ .
(a) Outstanding expense
(b) Prepaid expense
(c) Both
(d) None

Check Answer

Correct Answer – (B)

Question 8:

The person who makes the investment and bears all the risks connected with the business is called
(a) Proprietor
(b) Debtor
(c) Debenture holder
(d) Creditor

Check Answer

Correct Answer – (A)

Question 9:

The nature of capital is
(a) an asset.
(b) a liability.
(c) an income.
(d) an expense.

Check Answer

Correct Answer – (B)

Question 10:

Which of the following transactions is not of financial character?
(A) Purchase of asset on credit
(B) Purchase of asset for cash
(C) Withdrawing of money by
(D) Strike by Employees proprietor from business

Check Answer