Book-keeping And Accountancy
Book-keeping And Accountancy 11th Standard Multiple Choice Questions With Answers
1) Surplus of income over expenses is ______________.
A) ProfitB) DeficitC) LossD) Financial Statements
Ans : Profit
2) In ____________ basis of accounting, actual cash receipts and actual cash payments are recorded.
A) AccrualB) HybridC) CashD) Mercantile
Ans : Cash
3) Amount which is not recoverable from customer is known as ______________.
A) Bad DebtsB) DebtsC) DebtorsD) Doubtful debts
Ans : Bad Debts
4) Accounts must be honestly prepared and they must disclose all material information is known as _________.
A) Entity ConceptsB) Dual Aspect ConceptC) Disclosure ConceptD) Cost Concept
Ans : Disclosure Concept
5) A commodity in which a trader deals is known as _______________.
A) GoodsB) IncomeC) PropertyD) Expenditure
Ans : Goods
6) _________ means a reputation of a business valued in terms of money.
A) TrademarkB) AssetsC) PatentsD) 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-3B) AS-10C) AS-6D) AS-2
Ans : AS-3
8) The immediate recognition of loss is supported by principle of __________.
A) ConservatismB) ObjectiveC) MatchingD) Consistency
Ans : Conservatism
9) Brief explanation of an entry is called as _________.
A) FolioB) NarrationC) PostingD) Journalising
Ans : Narration
10) An act of exchange of things or services between the two parties is termed as______.
A) LedgerB) TransferC) TransactionD) Business
Ans : Transaction
11) International Accounting day is observed on ______
A) 10th NovemberB) 12th NovemberC) 10th DecemberD) 15th December
Ans : 10th November
12) Conventional system of accounting is ______
A) English entry systemB) Double entry systemC) Indian systemD) None of these
Ans : Indian system
13) Every debit has corresponding ____________
A) DebitB) CreditC) Right hand sideD) None of these
Ans : Credit
14) Radha's Account is a type of ______ account.
A) NominalB) PersonalC) RealD) Expenses
Ans : Personal
15) Machinery Account is ______ account.
A) NominalB) IncomeC) PersonalD) Real
Ans : Real
16) Goodwill is ______ asset.
A) TangibleB) CurrentC) An intangibleD) None of these
Ans : An intangible
17) Prepaid expenses is ______ account.
A) RealB) PersonalC) NominalD) Income
Ans : Personal
18) Debit the receiver, Credit the ____________
A) Goes outB) GiverC) Income and gainsD) Comes in
Ans : Giver
19) Debit what comes in, Credit what ______
A) GiverB) Expenses and lossesC) Goes outD) Income and gains
Ans : Goes out
20) Debit all ______ and Credit all income and gains.
A) GiverB) Expenses and lossesC) Goes outD) None of these
Ans : Expenses and losses
21) _________ means explanation of the transactions recorded in the Journal.
A) NarrationB) JournalisingC) postingD) Casting
Ans : Narration
22) _________ discount is not recorded in the books of accounts.
A) TradeB) CashC) GSTD) VAT
Ans : Trade
23) Recording of transaction in Journal is called ______.
A) PostingB) JournalisingC) NarrationD) Prime entry
Ans : Journalising
24) Every Journal entry require ______.
A) CastingB) PostingC) ParrationD) Journalising
Ans : Posting
25) The ______ column of the Journal is not recorded at the time of journalising
A) DateB) ParticularsC) Ledger folioD) Amount
Ans : Ledger folio
26) Goods sold on credit should be debited to _________.
A) Purchase A/cB) Customer A/cC) Sales A/cD) Cash A/c
Ans : Customer A/c
27) Wages paid for installation of Machinery should be debited to _________
A) Wages A/cB) Machinery A/cC) Cash A/cD) Installation A/c
Ans : Machinery A/c
28) The commission paid to the agent should be debited to _________
A) Drawing A/cB) Cash A/cC) Commission A/cD) Agent A/c
Ans : Commission A/c
29) Loan taken from Dena Bank should be credited to ________
A) Capital A/cB) Dena Bank A/cC) Cash A/cD) 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/cB) Goods A/cC) Cash A/cD) Bank A/c
Ans : Live stock A/c
31) In case of a credit transaction one of the account must be a …………….account
A) CashB) CreditC) PersonalD) Debit
Ans : Personal
32) ‘C/d’ indicates _______ balance
A) OpeningB) ClosingC) PositiveD) Negative
Ans : Closing
33) __________ Column of ledger is used for writing page number of Journal.
A) J.F.B) L.F.C) DateD) Particulars
Ans : J.F
34) Debtors Account shows ___________ balance.
A) RealB) NegativeC) CreditD) 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) TotallingB) JournalizingC) BalancingD) Posting
Ans : Balancing
36) Total of Purchase book is _________ to Purchase Account.
A) PostedB) MovedC) GivenD) Entered
Ans : Posted
37) Real account always shows ____________ balance.
A) MinimumB) MaximumC) DebitD) Credit
Ans : Debit
38) _____________ is prepared to test arithmetical accuracy of Books of Accounts.
A) Trial BalanceB) LedgerC) JournalD) List
Ans : Trial Balance
39) Cash column of Cash Book can never have ______ balance.
A) CreditB) DebitC) ZeroD) None of the above
Ans : Credit
40) Any entry recorded on both sides of Cash Book is known as ______ entry
A) OpeningB) RectifyingC) TransferD) Contra
Ans : Contra
41) The source document for recording in Sales book is ______
A) Inward InvoiceB) Outward InvoiceC) VoucherD) Cash Memo
Ans : Outward Invoice
42) Credit purchase of Machinery is recorded in the ______
A) Purchase BookB) Cash BookC) Journal ProperD) Returns Outward Book
Ans : Journal Proper
43) Sub-division of the journal is known as ______ book.
A) SubsidiaryB) Purchase ReturnC) PurchaseD) Journal Proper
Ans : Subsidiary
44) Additional cash introduced in business is recorded in ______
A) Purchase BookB) Cash BookC) Journal ProperD) Returns Inwards Book
Ans : Cash Book
45) Entry for bad debts is recorded in the ______
A) Sales BookB) Purchase BookC) Cash BookD) Journal Proper
Ans : Journal Proper
46) Direct deposit made by customer into our bank is recorded in the ______ side of the Cash Book.
A) PaymentsB) CreditC) ReceiptsD) Both
Ans : Receipts
47) The person who draws the cheque and signs on it is the ______
A) DrawerB) DraweeC) PayeeD) All of the above
Ans : Drawee
48) A fixed amount is deposited for a fixed period in ______ deposit account.
A) CurrentB) SavingsC) FixedD) Recurring
Ans : Fixed
49) Overdraft means _______ balance of Cash Book.
A) ClosingB) DebitC) OpeningD) Credit
Ans : Credit
50) When a cheque is deposited and collected by bank Pass Book is _________.
A) DishonouredB) DebitedC) CreditedD) Written
Ans : Credited
Tags:
Standard 11