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.
Answer
C
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\
Answer
C
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
Answer
C
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
Answer
A
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
Answer
C
Question 6. Accounts are usually held using a single entry scheme by:
(a) Society
(b) Company
(c) Sole Trader
(d) Government
Answer
C
Question 7. Accounts which are maintained under single entry system-
(a) Impersonal accounts
(b) Personal accounts
(c) (a) & (b) both
(d) None of these.
Answer
B
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
Answer
C
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
Answer
C
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
Answer
C
Question 11. Incomplete record mechanism of book keeping is
(a) Unsystematic
(b) Unscientific
(c) Scientific
(d) Both (b) and (c)
Answer
B
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.
Answer
B
Whoever needs to take the CBSE Class 11 Board Exam should look at this MCQ. To the Students who will show up in CBSE Class 11 Accountancy Board Exams, It is suggested to practice more and more questions. Aside from the sample paper you more likely had solved. These Accounts from Incomplete Records Class 11 MCQ are ready by the subject specialists themselves.
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.
Answer
C
Question 14. Opening capital is ascertained by preparing :
(a) Total debtors account
(b) Total creditors account
(c) Cash account
(d) Opening statement of affairs
Answer
D
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
Answer
A
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
Answer
D
Question 17. Credit sale is determined by preparing:
(a) Sales Account
(b) Creditors Account
(c) Debtors Account
(d) None of these
Answer
C
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)
Answer
C
Question 19. Generally incomplete records are maintained by-
(a) Trader
(b) Society
(c) Company
(d) Government.
Answer
A
Question 20. Single Entry System can be adopted by
(a) Small firms.
(b) Co-operative Societies.
(c) Joint Stock Companies.
(d) None of these,
Answer
A
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
Answer
B
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
Answer
A
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
Answer
D
Question 24. Generally incomplete records are maintained by-
(a) Trader
(b) Society
(c) Company
(d) Government.
Answer
A
You can easily get good marks If you study with the help of Class 11 Accounts from Incomplete Records MCQ. We trust that information provided is useful for you. NCERT Accounts from Incomplete Records Class 11 MCQ PDF Free Download would without a doubt create positive results.
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Frequently Asked Question (FAQs)
How many MCQ questions are there in Class 11 chapter 11 Accountancy?
In Class 11 Chapter 11 Accountancy, we have provided 24 Important MCQ Questions, But in the future, we will add more MCQs so that you can get good marks in the Class 11 exam.
Can we score good marks in Class 11 Accountancy with the help of Accounts from Incomplete Records MCQ Questions?
Yes, MCQ Question is one of the best strategies to make your preparation better for the CBSE Board Exam. It also helps to know the student’s basic understanding of each chapter. So, You can score good marks in the Class 11 Accountancy exam.