11th Book-keeping And Accountancy MCQ Collection


Book-keeping And Accountancy

11th Book-keeping And Accountancy MCQ

 Book-keeping And Accountancy 11th Standard Multiple Choice Questions With Answers

1) Surplus of income over expenses is ______________.

A) Profit
B) Deficit
C) Loss
D) Financial Statements

Ans : Profit

2) In ____________ basis of accounting, actual cash receipts and actual cash payments are recorded.

A) Accrual
B) Hybrid
C) Cash
D) Mercantile

Ans : Cash

3) Amount which is not recoverable from customer is known as ______________.

A) Bad Debts
B) Debts
C) Debtors
D) Doubtful debts

Ans : Bad Debts

4) Accounts must be honestly prepared and they must disclose all material information is known as _________.

A) Entity Concepts
B) Dual Aspect Concept
C) Disclosure Concept
D) Cost Concept

Ans : Disclosure Concept

5) A commodity in which a trader deals is known as _______________.

A) Goods
B) Income
C) Property
D) Expenditure

Ans : Goods

6) _________ means a reputation of a business valued in terms of money.

A) Trademark
B) Assets
C) Patents
D) Goodwill

Ans : Goodwill

7) Cash flow statement is prepared and presented for the period for which the profit and loss account is prepared

A) AS-3
B) AS-10
C) AS-6
D) AS-2

Ans : AS-3

8) The immediate recognition of loss is supported by principle of __________.

A) Conservatism
B) Objective
C) Matching
D) Consistency

Ans : Conservatism

9) Brief explanation of an entry is called as _________.

A) Folio
B) Narration
C) Posting
D) Journalising

Ans : Narration

10) An act of exchange of things or services between the two parties is termed as______.

A) Ledger
B) Transfer
C) Transaction
D) Business

Ans : Transaction

11) International Accounting day is observed on ______

A) 10th November
B) 12th November
C) 10th December
D) 15th December

Ans : 10th November

12) Conventional system of accounting is ______

A) English entry system
B) Double entry system
C) Indian system
D) None of these

Ans : Indian system

13) Every debit has corresponding ____________

A) Debit
B) Credit
C) Right hand side
D) None of these

Ans : Credit

14) Radha's Account is a type of ______ account.

A) Nominal
B) Personal
C) Real
D) Expenses

Ans : Personal

15) Machinery Account is ______ account.

A) Nominal
B) Income
C) Personal
D) Real

Ans : Real

16) Goodwill is ______ asset.

A) Tangible
B) Current
C) An intangible
D) None of these

Ans : An intangible

17) Prepaid expenses is ______ account.

A) Real
B) Personal
C) Nominal
D) Income

Ans : Personal

18) Debit the receiver, Credit the ____________

A) Goes out
B) Giver
C) Income and gains
D) Comes in

Ans : Giver

19) Debit what comes in, Credit what ______

A) Giver
B) Expenses and losses
C) Goes out
D) Income and gains

Ans : Goes out

20) Debit all ______ and Credit all income and gains.

A) Giver
B) Expenses and losses
C) Goes out
D) None of these

Ans : Expenses and losses

21) _________ means explanation of the transactions recorded in the Journal.

A) Narration
B) Journalising
C) posting
D) Casting

Ans : Narration

22) _________ discount is not recorded in the books of accounts.

A) Trade
B) Cash

Ans : Trade

23) Recording of transaction in Journal is called ______.

A) Posting
B) Journalising
C) Narration
D) Prime entry

Ans : Journalising

24) Every Journal entry require ______.

A) Casting
B) Posting
C) Parration
D) Journalising

Ans : Posting

25) The ______ column of the Journal is not recorded at the time of journalising

A) Date
B) Particulars
C) Ledger folio
D) Amount

Ans : Ledger folio

26) Goods sold on credit should be debited to _________.

A) Purchase A/c
B) Customer A/c
C) Sales A/c
D) Cash A/c

Ans : Customer A/c

27) Wages paid for installation of Machinery should be debited to _________

A) Wages A/c
B) Machinery A/c
C) Cash A/c
D) Installation A/c

Ans : Machinery A/c

28) The commission paid to the agent should be debited to _________

A) Drawing A/c
B) Cash A/c
C) Commission A/c
D) Agent A/c

Ans : Commission A/c

29) Loan taken from Dena Bank should be credited to ________

A) Capital A/c
B) Dena Bank A/c
C) Cash A/c
D) Dena Bank Loan A/c

Ans : Dena Bank Loan A/c

30) Purchase of animals for cash should be debited to ________

A) Live stock A/c
B) Goods A/c
C) Cash A/c
D) Bank A/c

Ans : Live stock A/c

31) In case of a credit transaction one of the account must be a …………….account

A) Cash
B) Credit
C) Personal
D) Debit

Ans : Personal

32) ‘C/d’ indicates _______ balance

A) Opening
B) Closing
C) Positive
D) Negative

Ans : Closing

33) __________ Column of ledger is used for writing page number of Journal.

A) J.F.
B) L.F.
C) Date
D) Particulars

Ans : J.F

34) Debtors Account shows ___________ balance.

A) Real
B) Negative
C) Credit
D) Debit

Ans : Debit

35) _________ is the process of deriving the difference between totals of the debit and credit side of each ledger a/c.

A) Totalling
B) Journalizing
C) Balancing
D) Posting

Ans : Balancing

36) Total of Purchase book is _________ to Purchase Account.

A) Posted
B) Moved
C) Given
D) Entered

Ans : Posted

37) Real account always shows ____________ balance.

A) Minimum
B) Maximum
C) Debit
D) Credit

Ans : Debit

38) _____________ is prepared to test arithmetical accuracy of Books of Accounts.

A) Trial Balance
B) Ledger
C) Journal
D) List

Ans : Trial Balance

39) Cash column of Cash Book can never have ______ balance.

A) Credit
B) Debit
C) Zero
D) None of the above

Ans : Credit

40) Any entry recorded on both sides of Cash Book is known as ______ entry

A) Opening
B) Rectifying
C) Transfer
D) Contra

Ans : Contra

41) The source document for recording in Sales book is ______

A) Inward Invoice
B) Outward Invoice
C) Voucher
D) Cash Memo

Ans : Outward Invoice

42) Credit purchase of Machinery is recorded in the ______

A) Purchase Book
B) Cash Book
C) Journal Proper
D) Returns Outward Book

Ans : Journal Proper

43) Sub-division of the journal is known as ______ book.

A) Subsidiary
B) Purchase Return
C) Purchase
D) Journal Proper

Ans : Subsidiary

44) Additional cash introduced in business is recorded in ______

A) Purchase Book
B) Cash Book
C) Journal Proper
D) Returns Inwards Book

Ans : Cash Book

45) Entry for bad debts is recorded in the ______

A) Sales Book
B) Purchase Book
C) Cash Book
D) Journal Proper

Ans : Journal Proper

46) Direct deposit made by customer into our bank is recorded in the ______ side of the Cash Book.

A) Payments
B) Credit
C) Receipts
D) Both

Ans : Receipts

47) The person who draws the cheque and signs on it is the ______

A) Drawer
B) Drawee
C) Payee
D) All of the above

Ans : Drawee

48) A fixed amount is deposited for a fixed period in ______ deposit account.

A) Current
B) Savings
C) Fixed
D) Recurring

Ans : Fixed

49) Overdraft means _______ balance of Cash Book.

A) Closing
B) Debit
C) Opening
D) Credit

Ans : Credit

50) When a cheque is deposited and collected by bank Pass Book is _________.

A) Dishonoured
B) Debited
C) Credited
D) Written

Ans : Credited


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