CBSE Class 11 Accountancy – MCQ and Online Tests – Unit 1 – Introduction to 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 1 – Introduction to Accounting
Question 1.
Book – keeping is-
(a) An art
(b) A science
(c) An art and science both
(d) None of these.
Answer
Answer: (c) An art and science both
Question 2.
The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –
(a) Book – keeping
(b)Accounting
(c) Journalizing
(d) None of these.
Answer
Answer: (b) Accounting
Question 3.
Cash, goods or assets invested by the proprietor in the business for earning profit is called-
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these.
Answer
Answer: (b) Capital
Question 4.
The person, firm or institution who does not pay the price in cash for the goods purchased or the services received is called-
(a) Creditor
(b) Proprietor
(c) Debtor
(d)None of these.
Answer
Answer: (c) Debtor
Question 5.
The art of recording all business transactions in a systematic manner in a set of books is called-
(a) Accounting
(b) Book – keeping
(c) Ledger
(d) None of these.
Answer
Answer: (b) Book – keeping
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