Are you guys looking for NCERT Important MCQ Questions for Class 11 Accountancy with Answers PDF Free Download as per CBSE new exam pattern? You came to the right page. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Important Multiple Choice Questions of Class 11 Accountancy. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.
Q1. The Receipts and Payments Account is the summary of
(a) Income and expenditures during current year
(b) Cash receipts and payments
(c) Debit and credit balances of ledger accounts
(d) Only cash receipts
(b) Cash receipts and payments
Q2. Subscription received in advance by a club during previous year are shown
(a) on the credit side of Income and Expenditure Account
(b) on the assets side of the Opening Balance Sheet
(c) on the assets side of the Closing Balance Sheet
(d) on the liabilities side of the Closing Balance Sheet
(b) on the assets side of the Opening Balance Sheet
Q3. Donations received for a specific purpose is a
(a) Assets
(b) Liabilities
(c) Revenue Receipts
(d) Capital Receipts
(d) Capital Receipts
Q4. Opening Cash Balance is shown in
(a) Income and Expenditure Account
(b) Receipts and Payments Account
(c) Closing Balance Sheet
(d) None of the above
(b) Receipts and Payments Account
Q5. The Receipts and Payments Account is a
(a) Real Account
(b) Nominal Account
(c) Personal Account
(d) None of the above
(a) Real Account
Q6. Subscription outstanding are
(a) an income
(b) an asset
(c) a liability
(d) An expenditure
(b) an asset
Q7. Income and Expenditure Account records transactions of:
(A) Revenue nature only
(B) Capital nature only
(C) Both revenue and capital nature
(D) Income of only revenue nature and expenditure of revenue and capital nature.
(A) Revenue nature only
Q8. . Income and Expenditure Account reveals :
(A) Surplus or Deficiency
(B) Cash in Hand
(C) Net Profit
(D) Capital Account
(A) Surplus or Deficiency
Q9. The amount of ‘Subscription received from members’ by a Non-profit organi sation is shown in which of the following?
(A) Debit side of Income and Expenditure Account
(B) Credit side of Income and Expenditure Account
(C) Liability side of Balance Sheet
(D) Assets side of Balance Sheet
(B) Credit side of Income and Expenditure Account
Q10. Donation received for a special purpose :
(A) Should be credited to Income and Expenditure Account
(B) Should be credited to separate account and shown in the Balance Sheet
(C) Should be shown on the assets side
(D) Should not be recorded at all.
(B) Should be credited to separate account and shown in the Balance Sheet
Q11. Subscription received by a school for organising annual function is treated as:
(A) Capital Receipt (i.e., Liability)
(B) Revenue Receipt {i.e., Income)
(C) Asset
(D) Earned Income
(A) Capital Receipt (i.e., Liability)
Q12. The amount of ‘Entrance Fees’ received by a Non-profit organisation (if it is received regularly) is shown in which of the following?
(A) Liability side of Balance Sheet
(B) Assets side of Balance Sheet
(C) Debit side of Income and Expenditure Account
(D) Credit side of Income and Expenditure Account
(D) Credit side of Income and Expenditure Account
Q13. Out of the following items, which one is shown in the Receipts and Payments Account?
(a) Outstanding Salary
(b) Depreciation
(c) Life Membership Fees
(d) Accrued Subscription
(b) Depreciation
Q14. In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:
(a) Liabilities side of the Balance Sheet
(b) Debit side the Income and Expenditure Account
(c) Credit side of the Income and Expenditure Account
(d) Assets side of the Balance Sheet
(b) Debit side the Income and Expenditure Account
Q15. All receipts from sale of consumable items are treated as:
(a) Capital Receipts
(b) Revenue Receipts
(c) Both (a) and (b)
(d) None of these
(b) Revenue Receipts
Q16. Capital fUnd is calculated:
(a) Income-Expenditure
(b) Assets Liabilities
(c) Capital + Liabilities
(d) None of these
(b) Assets Liabilities
Q17. Subscription redeved in advance during the current year is:
(a) An income
(b) An Asset
(c) A liability
(d) None of these
(c) A liability
Q18. Balance of Income and Expenditure Account shows:
(a) Cash in hand
(b) Capital Fund
(c) Net Profit
(d) Excess of Income over Expenditure or Vice Versa
(d) Excess of Income over Expenditure or Vice Versa
Q19. Property received as a result of the will of the deceased person is called:
(a) Legacy
(b) Honorarium
(c) Donation
(d) Subscription
(a) Legacy
Q20. Not-for-profit organisations prepare :
(A) Trading Account
(B) Trading & Profit and Loss Account
(C) Income and Expenditure Account
(D) All of the above
(C) Income and Expenditure Account
MCQ Questions for Class 11 Accountancy: Financial Accounting
- Chapter1: Introduction to Accounting Class 11 MCQ
- Chapter2:Theory Base of Accounting Class 11 MCQ
- Chapter3: Recording of Transactions 1 Class 11 MCQ
- Chapter4: Recording of Transactions 2 Class 11 MCQ
- Chapter5: Bank Reconciliation Statement Class 11 MCQ
- Chapter6: Trial Balance and Rectification of Errors Class 11 MCQ
- Chapter7: Depreciation, Provisions and Reserves Class 11 MCQ
- Chapter8: Bills of Exchange Class 11 MCQ
- Chapter9: Financial Statements 1 Class 11 MCQ
- Chapter10: Financial Statements 2 Class 11 MCQ
- Chapter11: Accounts from Incomplete Records Class 11 MCQ
- Chapter12: Applications of Computers in Accounting Class 11 MCQ
- Chapter13: Computerised Accounting System Class 11 MCQ
- Chapter14: Structuring Database for Accounting Class 11 MCQ
- Chapter15: Accounting System Using Database Management System Class 11 MCQ
- Chapter16: Accounting for Not-for-Profit Organisation Class 11 MCQ
Practicing NCERT Accountancy Important MCQs With Answers Pdf Class 11 is one of the best ways to prepare for the CBSE Class 11 board exam. There is no substitute for consistent practice whether one wants to understand a concept thoroughly or one wants to score better. If you have any queries regarding The Solid State CBSE Class 11 Accountancy Important MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon.