Class 11 Accountancy Chapter 4 Recording of Transactions 2 MCQ Question with Answers

Class 11 MCQs Important Questions Class 11

Recording of Transactions 2 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 Recording of Transactions 2 Class 11, which will help them all through their board tests.

Recording of Transactions 2 Class 11 MCQ Questions with Answer

Class 11 Accountancy MCQ with answers are given here to Chapter 4 Recording of Transactions 2. 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 Recording of Transactions 2 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 Recording of Transactions 2 MCQ with answers given below

Question 1. Purchase book is used to record : 
(A) Purchases of goods
(B) Credit Purchases of goods
(C) Credit Purchases of asset
(D) All credit Purchases

Answer

B

Question 2. Debit notes issued are used to prepare : 
(A) Purchases Return Book
(B) Sales Return Book
(C) Purchases Book
(D) Sales Book

Answer

A

Question 3. How many accounts are effected in a transaction? 
(a) Only one
(b) Only Two
(c) At least two
(d) Two or Three

Answer

C

Question 4. …………….. is not a subsidiary book 
(A) Purchase Return Book
(B) Purchase Book
(C) Ledger
(D) Sales Book

Answer

C

Question 5. Recording is made in purchases book : 
(A) After deducting trade discount
(B) After adding trade discount
(C) After deducting cash discount
(D) After adding cash discount

Answer

A

Question 6. When goods are lost by fire then Loss of Goods by Fire Account is debited with 
(a) Cost of goods sold.  
(b) Cost of goods sold plus Gross Profit.
(c) Cost of goods sold less Gross Profit.
(d) Cost of goods purchased.

Answer

D

Question 7. Debit Note is the source of writing : 
(A) A debit entry in an Account
(B) A sale to a person
(C) Sales Return Book
(D) Journal Proper

Answer

A

Question 8. A separate column is made for ‘Credit Note No.’ in 
(A) Purchases Book
(B) Sales Book
(C) Purchases Return Book
(D) Sales Return Book

Answer

D

Question 9. Ledger is a book in which 
(a) Real and Nominal Accounts are maintained.
(b) Real and Personal Accounts are maintained,
(c) Real, Personal and Nominal Accounts are maintained.
(d) Personal and Nominal Accounts are maintained.

Answer

C

Question 10. Total of Purchase Return Column in the Purchases Return Book is posted to : 
(A) Purchases Return A/c — Debit
(B) Purchases Return A/c — Credit
(C) Purchases A/c — Debit
(D) Purchases A/c — Credit

Answer

B

Question 11. Total of Sales Return Column in the Sales Return Book is posted to :
(A) Sales A/c — Debit
(B) Sales A/c —Credit
(C) Sales Return A/c — Debit
(D) Sales Return A/c — Credit

Answer

C

Question 12. The process of transferring the transactions from the Journal to the ledger is called 
(a) Journalising.
(b) Posting.
(c) Balancing.
(d) Costing.

Answer

B

Question 13. In case lesser amount is recorded in sales invoice by mistake, then a is sent 
(A) Debit Note
(B) Credit Note
(C) Cash Note
(D) Debit or Credit Note

Answer

A

Question 14. A trader entered into following transactions. As a result, total of Purchase Column in the Purchase Book will be : 
(i) Goods purchased from Gaurav Rs.8,000
(ii) Goods purchased from Sudhir for Cash Rs. 10,000
(iii) Goods purchased from Kamal on credit Rs.25,000
(iv) Machinery purchased from Dinesh on credit Rs.40,000
(A) Rs.83,000
(B) Rs.73,000
(C) Rs.33,000
(D) Rs.25,000

Answer

C

Question 15. Goods taken away by the proprietor from business for his personal use will be recorded in : 
(A) Purchases Book
(B) Sales Book
(C) Purchases Return Book
(D) Journal Proper

Answer

D

Question 16. Recording is made in Journal Proper of: 
(A) All transactions
(B) Those transactions which are not recorded in any subsidiary book.  
(C) All cash transactions
(D) All credit Transactions

Answer

B

Question 17. Posting of transaction means 
(a) entering transactions in Journal.  
(b) entering transactions in Ledger.
(a) entering transactions in Trial Balance.  
(d) entering transactions in Financial Statements.  

Answer

B

Question 18. Recording is made in Journal Proper of: 
(A) Opening Entries
(B) Closing Entries
(C) Adjustment Entries
(D) All of the above

Answer

D

Question 19. The balance of sales column in the sales day book is Rs.30,000. Rs.5,000 were recovered from debtors. Then balance of sales column will be transferred by which amount? 
(A) Rs.25,000
(B) Rs.30,000
(C) Rs.20,000
(D) Rs.35,000

Answer

B

Question 20. Ledger Account is prepared from 
(a) Vouchers.
(b) Trial Balance.
(c) Journal.
(d) Financial Statements.

Answer

C

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 Recording of Transactions 2 Class 11 MCQ are ready by the subject specialists themselves.

Question 21. A note sent by buyer on return of goods is 
(A) Credit Note
(B) Return Note
(C) Debit Note
(D) None of these

Answer

C

Question 22. Goods sold for Cash Rs.25,000 plus 12% IGST. Sales A/c will be credited by : 
(A) Rs.22,000
(B) Rs.25,000
(C) Rs.28,000
(D) None of these

Answer

B

Question 23. Purchase of furniture on credit should be recorded in 
(A) Journal
(B) Purchase Book
(C) Cash Book
(D) Journal Proper

Answer

D

Question 24. A …….. is sent to a supplier when we return goods. 
(A) Debit Note
(B) Credit Note
(C) Proforma Invoice
(D) None of these

Answer

A

Question 25. In the Purchases Book the record is in respect of 
(a) cash purchases of goods dealt in.
(b) credit purchases of goods dealt in.
(c) all purchases of goods dealt in.
(d) purchase of anything.

Answer

B

Question 26. What type of Ledger Accounts are not carried forward to next year? 
(a) Personal Accounts
(b) Real Accounts
(c) Nominal Accounts
(d) All of the above

Answer

C

Question 27. The Sales Return Book records 
(a) the return of goods purchased.
(b) the return of goods sold on credit,
(c) the return of goods sold for cash.
(d) the return of anything sold.

Answer

B

Question 28. The Sales Book 
(a) is a part of the Journal.
(b) is a part of the Ledger.
(c) is a part of the Balance Sheet.
(d) is a part of the Trial Balance

.Answer

A

Question 29. What type of following accounts will have debit balance only? 
(a) Personal Accounts
(b) Real Accounts
(c) Nominal Accounts
(d) All of the above

Answer

B

Question 30. The total of the Sales Book is posted to 
(a) debit of the Sales Account.
(b) credit of the Sales Account.
(c) debit of the Customers’ Account.
(d) credit of Customers’ Accounts.

Answer

B

Question 31. The periodic total of Sales Return Journal is posted to the 
(a) Sales Account.
(b) Goods Account.
(c) Sales Return Account.
(d) Any of these.

Answer

C

Question 32. Goods purchased for cash are recorded in the 
(a) Purchases Book.
(b) Cash Book.
(c) Purchases Return Book.
(d) Cash Book and Purchases Book.

Answer

B

Question 33.Total of these transactions is posted to Purchases Account 
(a) Credit purchase of furniture.
(b) Purchases Return.
(c) Credit purchase of goods.
(d) Purchase of Stationery.

Answer

C

Question 34. Sale of business asset on credit is recorded in 
(a) Sales Book.
(b) Journal Proper.
(c) Special Journal.
(d) Cash Book.

Answer

B

Question 35.Opening entry is recorded 
(a) in the beginning of the accounting year.
(b) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year.

Answer

A

Question 36. Trial Balance shows 
(a) both debit and credit balances,
(b) only debit balance.
(c) only credit balance.
(d) either of debit or credit balance.

Answer

A

Question 37. Closing entries are passed   
(a) in the beginning of the accounting year.
(b) at the end of the accounting year.
(c) in the middle of the accounting year.
(d) anytime during the year,

Answer

B

Question 38. Which of the following transactions is entered into the Journal Proper?   
(a) Cash Payment to an employee for expenses.
(b) Cash purchase of goods for resale.
(c) Correction of an error.
(d) Credit purchase of goods for resale.

Answer

C

Question 39. X received a cheque of Rs. 10,000 from Y in settlement of dues of Rs. 10,500. The cheque was dishonoured. The reversal of discount allowed by X will be recorded in 
(a) Cash Book.
(b) Journal Proper.
(c) Ledger directly.
(d) None of the above.

Answer

B

Question 40. Which of the following expense is not a revenue expense?   
(a) Salary
(b) Electricity
(c) Water
(d) Repair of second-hand machinery purchased

Answer

D

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Frequently Asked Question (FAQs)

How many MCQ questions are there in Class 11 chapter 4 Accountancy?

In Class 11 Chapter 4 Accountancy, we have provided 40 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 Recording of Transactions 2 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.