CBSE Class 11 Accountancy - MCQ and Online Tests - Unit 3 - Recording of Transactions 1

CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 3 – Recording of Transactions 1

Every year CBSE schools conducts Annual Assessment exams for 6,7,8,9,11th standards. These exams are very competitive to all the students. So our website provides online tests for all the 6,7,8,9,11th standard’s subjects. These tests are also very effective and useful for those who preparing for any competitive exams like Olympiad etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.

 

CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 3 – Recording of Transactions 1

Question 1.
The entry which is passed for bringing forward the balances of personal and Real Account as shown in the last year’s balance sheet is called –
(a) Closing entry
(b) Journal entry
(c) Opening entry
(d) None of these.

Answer

Answer: (c) Opening entry

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Question 2.
The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list.

Answer

Answer: (a) Vouchers

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Question 3.
As per American Belief, Accounts are of how many types-
(a) Two
(b) Three
(c) Five
(d) Four.

Answer

Answer: (c) Five

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Question 4.
The Mathematical Expression defining the comparative relationship between Assets and Liabilities of any person, institution or Business concern is called-
(a) Accounting
(b) Accounting Equation
(c) Book – keeping
(d) None of these.

Answer

Answer: (b) Accounting Equation

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Question 5.
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.

Answer

Answer: (a) Only cash transactions

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Question 6.
Cash – book always show-
(a) Debit balance
(b) Credit balance
(c) Debit or Credit balance
(d) None of these.

Answer

Answer: (a) Debit balance

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Question 7.
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.

Answer

Answer: (b) Petty cash – book

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Question 8.
The entry which affects cash and bank column of a triple column cash – book is known as –
(a) Compound entry
(b) Contra entry
(c) Journal entry
(d) None of these.

Answer

Answer: (b) Contra entry

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Question 9.
What statement is used while closing a Drawing Account-
(a) Balance c/d
(b) By Trading A/c
(c) By P & L A/c
(d) By Capital Account.

Answer

Answer: (d) By Capital Account.

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