Class 11 Accountancy Chapter 11 Accounts from Incomplete Records MCQ Question With Answers

Accounts from Incomplete Records Class 11 MCQ is one of the best strategies to prepare for the CBSE Class 11 Board exam. If you want to complete a grasp concept or work on one’s score, there is no method except constant practice. Students can improve their speed and accuracy by doing more MCQs on Accounts from Incomplete Records Class 11, which will help them all through their board tests.

Accounts from Incomplete Records Class 11 MCQ

Class 11 Accountancy MCQ with answers are given here to Chapter 11 Accounts from Incomplete Records. These MCQs are based on the latest CBSE board syllabus and relate to the latest Class 11 Accountancy syllabus. By Solving these Class 11 MCQs, you will be able to analyze all of the concepts quickly in the chapter and get ready for the Class 11 Annual exam.

Learn Class 11 Accounts from Incomplete Records MCQs with answers pdf free download according to the latest CBSE and NCERT syllabus. Students should prepare for the examination by solving CBSE Class 11 Accountancy Accounts from Incomplete Records MCQ with answers given below

Question 1. Statement of affairs is prepared to-   
(a) Know about assets
(b) Know about liabilities
(c) Calculate capital
(d) Know financial position.

Question 2. If books are kept under single entry system, opening stock is ascertained by preparing           
(a) Opening Statement of Affairs
(b) Stock Register
(c) Memorandum Trading Account
(d) Opening Stock Account\

Question 3. In single entry two-fold aspect of transaction are not recorded, so it is:           
(a)  Incomplete and Scientific
(b) Incomplete and Unscientific
(c) Complete and Unscientific
(d) Complete and Scientific 

Question 4. Normally single entry system is suitable for:             
(a) Small scale business
(b) Large scale business
(c) Both of them
(d) None of them

Question 5. Statements of assets & liabilities prepared under single entry system is called:         
(a) Balance sheet
(b) Profit & loss statement
(c) Statement of affairs
(d) Income Statement

Question 6. Accounts are usually held using a single entry scheme by:       
(a) Society
(b) Company
(c) Sole Trader
(d) Government

Question 7. Accounts which are maintained under single entry system-   
(a) Impersonal accounts
(b) Personal accounts
(c) (a) & (b) both
(d) None of these.

Question 8. If opening capital is Rs.(i)0,000 & closing capital is Rs.(i)5,000 then profit or loss:           
(a) Loss of Rs.5,000
(b) Profit of Rs.2,500
(c) Profit of Rs.5,000
(d) None of these

Question 9. Statement of affairs is a         
(a) Statement of income and expenditure
(b) Statement of assets and liabilities
(c) Summary of cash transactions
(d) Summary of credit transactions

Question 10. More accurate profit & loss account can be prepared in:             
(a) Single entry system
(b) Modern accounting system 
(c) Double entry system
(d) None of them

Question 11. Incomplete record mechanism of book keeping is     
(a) Unsystematic
(b) Unscientific
(c) Scientific 
(d) Both (b) and (c)

Question 12. Bills Payable honoured during the year will be debited to   
(a) Cash Account.
(b) Bills Payable Account.
(c) Creditors Account.
(d) None of these.

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Question 13. A system of accounting which is not based on double entry system is called-     
(a) Cash system
(b) Incomplete accounting system 
(c) Mahajani system of accounting
(d) None of these.

Question 14. Opening capital is ascertained by preparing :     
(a) Total debtors account
(b) Total creditors account
(c) Cash account
(d) Opening statement of affairs

Question 15. Credit purchase, during the year is ascertained by preparing :     
(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs

Question 16. Opening capital is ascertained by preparing       
(a) Total creditor’s account
(b) Total debtor’s account 
(c) Cash account
(d) Opening statement of affairs

Question 17. Credit sale is determined by preparing:       
(a) Sales Account
(b) Creditors Account
(c) Debtors Account
(d) None of these

Question 18. Profit can be ascertained from the incomplete records under single entry by using.   
(a) Only Statement of Affairs Method
(b) Only Conversion Method
(c) Either (a) or (b) above
(d) None of (a) or (b)

Question 19. Generally incomplete records are maintained by- 
(a) Trader
(b) Society
(c) Company
(d) Government.

Question 20. Single Entry System can be adopted by     
(a) Small firms.
(b) Co-operative Societies.
(c) Joint Stock Companies.
(d) None of these,

Question 21. If books are kept under single entry system , credit sales are ascertained by preparing   
(a) Total Creditors Account
(b) Total Debtors Account
(c) Trading Account
(d) Credit Sales Account 

Question 22. If book are kept under single entry system, credit purchases are ascertained by preparing   
(a) Total Creditors Account
(b) Total Debtors Account
(c) Credit Purchases Account
(d) Bills Payable Account

Question 23. When closing capital is more than opening capital, it denotes: 
(a) Profit
(b) Loss
(c) No Profit no loss
(d) Profit, if there is no introduction of fresh capital

Question 24. Generally incomplete records are maintained by- 
(a) Trader
(b) Society
(c) Company
(d) Government.

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