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 Sales Book is a part of:
(a) Journal
(b) Trading A/c
(c) Balance Sheet
(d) Ledger
(a) Journal
Q2. While passing an opening entry, all the assets are______while all the liabilities are_____
(a) Debited , credited
(b) Credited, Credited
(c) None of the options
(d) Credited, Debited
(a) Debited , credited
Q3. Which account will be debited in case wages are paid for installation of machinery?
(a) Machinery A/c
(b) Installation A/c
(c) Wages A/c
(d) Cash A/c
(a) Machinery A/c
Q4. Goods worth Rs.7,000 given away as charity would be credited to :
(a) Sales A/c
(b) Purchases A/c
(c) Charity A/c
(d) Trustee A/c
(a) Sales A/c
Q5. What are total number of subsidiary books available to record financial transactions?
(a) 8
(b) 7
(c) 6
(d) 12
(a) 8
Q6. Name the transaction that is recorded in both sides of Cash book simultaneously.
(a) Contra Entry
(b) Dual entry
(c) Double entry
(d) Single entry
(a) Contra Entry
Q7. All the indirect expenses are closed to_____
(a) Profit and loss A/c
(b) Cash Flow Statement
(c) Balance sheet
(d) Trading A/c
(a) Profit and loss A/c
Q8. Which accounting equation is incorrect out of the following?
(a) Liabilities = Assets – Capital.
(b) Assets = Liabilities – Capital.
(c) Capital = Assets – Liabilities.
(d) Assets = Liabilities + Capital.
(a) Liabilities = Assets – Capital.
Q9. Journal proper includes entries related to______
(a) Sale of asset on credit
(b) Sale of asset for cash
(c) Sale of goods for cash
(d) Sale of goods on credit
(a) Sale of asset on credit
Q10. Business transactions are recorded
(a) in chronological order.
(b) weekly.
(c) at the end of the month.
(d) All of these.
(a) in chronological order.
Q11. Withdrawal of cash from business by the proprietor is credited to
(a) Drawings A/c.
(b) Capital A/c.
(c) Cash A/c.
(d) Bank A/c.
(c) Cash A/c.
Q12. X sells goods on credit to Y. He receives 10% trade discount from X and a further 5% cash discount if paid within 15 days. K bought goods with a list price of Rs. 2,00,000 from X.
Which of the following Journal entry would correctly record the sale in the books of A?
(a) Dr. y and Cr. Sales A/c by Rs. 1,70,000.
(b) Dr. Y and Cr. Sales A/c by Rs. 1,80,000.
(c) Dr. X and Cr. Sales A/c by Rs. 1,90,000.
(d) Dr. X by Rs. 2,00,000; Cr. Sales A/c by Rs. 1,70,000 and Discount A/c by Rs. 30,000.
(b) Dr. Y and Cr. Sales A/c by Rs. 1,80,000.
Q13. Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
(a) Creditors
(b) Debentures
(c) Profit
(d) Capital.
(d) Capital.
Q14. The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list.
(a) Vouchers
Q15. As per American Belief, Accounts are of how many types-
(a) Two
(b) Three
(c) Five
(d) Four.
(c) Five
Q16. Which of the following is entered in cash – book-
(a) Only cash transactions
(b) Only credit transactions
(c) Both cash and credit transactions
(d) None of these.
(a) Only cash transactions
Q17. Cash – book always show-
(a) Debit balance
(b) Credit balance
(c) Debit or Credit balance
(d) None of these.
(a) Debit balance
Q18. The cash – book meant for recording petty expenses is called –
(a) Simple cash – book
(b) Petty cash – book
(c) Triple column
(d) None of these.
(b) Petty cash – book
Q19. The liabilities of a firm are Rs. 60,000 and the capital of the proprietor is Rs. 40,000. The total assets are:
(a) 60,000
(b) 1,00,000
(c) 20,000
(d) 40,000
(b) 1,00,000
Q20. If a film borrows a sum of money, there will be
(a) Increase in capital
(b) Decrease in capital
(c) No effect on capital
(d) None of the above
(a) Increase in capital
Q21. Debit Means
(a) an increase in asset
(b) a decrease in asset
(c) an increase in liability
(d) an increase in capital
(a) an increase in asset
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.