MCQ on Class 11 Accountancy Chapter 4 Recording of Transactions 2 with Answers

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. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?

a) Drawings A/c
b) Capital A/c
c) Insurance A/c
d) Cash A/c

a) Drawings A/c

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. What are total number of subsidiary books available to record financial transactions?

a) 8
b) 7
c) 6
d) 12

a) 8

Q5. 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

Q6. 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

Q7. The Sales Return Book always has______balance

a) Debit
b) Either debit or credit
c) Credit
d) None of the options

a) Debit

Q8.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

Q9. Purchase of machinery on credit is recorded in_______

a) Journal proper
b) Sales Book
c) Cash book
d) Purchase book

a) Journal proper

Q10. Income tax is treated as-

(a) Business Expense
(b) Direct Expense
(c) Personal Expense
(d) Indirect Expense.

(d) Indirect Expense.

Q11. A cheque on which two parallel lines are drawn in the left top corner is called –

(a) Bearer cheque
(b) Traveller’s cheque
(c) Account payee cheque
(d) None of these.

Q12. Cash purchase of goods is recorded in-

(a) Purchase book
(b) Sales book
(c) Cash – book
(d) None of these.

Q13. Credit purchase of furniture shall be recorded in-

(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.

(b) Journal book

Q14. Who prepares a debit note-

(a) Seller
(b) Purchaser
(c) Cashier
(d) None of these.

(b) Purchaser

Q15. Return of goods by a customer is recorded in-

(a) Purchase book
(b) Sales book
(c) Sales return book
(d) Purchase return book.

(b) Sales book

Q16. Goods purchased on cash are recorded in the

(a) Purchases (journal) book
(b) Sales (journal) book
(c) Cash book
(d) Purchases return (journal) book

Q17. Cash book does not record transaction of:

(a) Cash nature
(b) Credit nature
(c) Cash and credit nature
(d) None of these

(b) Credit nature

Q18. Total of these transactions is posted in purchase account:

(a) Purchase of furniture
(b) Cash and credit purchase
(c) Purchases return
(d) Purchase of stationery

(b) Cash and credit purchase

Q19. The periodic total of sales return journal is posted to :

(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account

(d) Sales return account

Q20. Credit balance of bank account in cash book shows :

(a) Overdraft
(b) Cash deposited in our bank
(c) Cash withdrawn from bank
(d) None of these

(a) Overdraft

Q21. The periodic total of purchases return journal is posted to :

(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture 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.