CBSE Class 11 Accountancy - MCQ and Online Tests - Unit 2 - Theory Base of Accounting

CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 2 – Theory Base of Accounting

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 2 – Theory Base of Accounting

Question 1.
Meaning of credibility of going concern is :
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of these.

Answer

Answer: (c) Continuing of business

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Question 2.
The sum of Liabilities and Capital is-
(a) Expense
(b) Income
(c) Drawings
(d) Assets.

Answer

Answer: (d) Assets.

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Question 3.
In India, the accounting standard board was set up in the year-
(a) 1972
(b) 1977
(c) 1956
(d) 1932.

Answer

Answer: (b) 1977

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Question 4.
The basic accounting postulates are denoted by –
(a) Concepts
(b) Book – keeping
(c) Accounting standards
(d) None of these.

Answer

Answer: (a) Concepts

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Question 5.
The amount drawn by businessmen for his personal use is-
(a) Capital
(b) Drawing
(c) Expenditure
(d) Loss.

Answer

Answer: (b) Drawing

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Question 6.
Generally the duration of an Accounting period is of-
(a) 6 months
(b) 3 months
(c) 12 months
(d) 1 month.

Answer

Answer: (c) 12 months

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