NCERT Class 11 Accountancy MCQ : Introduction to Accounting

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Introduction To Accountancy Class 11
Introduction To Accountancy Class 11

NCERT Class 11 Accountancy MCQ : Introduction to Accounting

Embark on a financial journey through our MCQs page dedicated to the ‘Introduction to Accounting.’ Curated from a diverse array of previous year papers, including esteemed sectors like UPSC IAS and more, this resource invites you to unravel the fundamental principles that govern the language of business and financial reporting.

These Multiple Choice Questions are meticulously crafted to challenge and enhance your understanding of accounting basics, including financial statements, accounting principles, and the essential concepts that underpin effective financial management. Whether you’re an accounting enthusiast or preparing for competitive exams, these questions offer a strategic approach to mastering the intricacies of this foundational aspect of business.

Prepare confidently for exams with questions sourced from various sectors, ensuring a well-rounded grasp of the nuanced interactions between financial transactions, reporting standards, and the role of accounting in decision-making. Each MCQ serves as a key to unlocking insights into the diverse aspects of accounting, mirroring the depth of knowledge required for success in competitive examinations.

Immerse yourself in the financial wonders of accounting, confident in your ability to navigate through MCQs that mirror the intricacies of financial reporting and management. Our resource, drawn from previous year papers, acts as a roadmap for exam success, offering both knowledge enrichment and strategic insights

NCERT Class 11 Accountancy : Introduction to Accounting MCQ – NCERT Class 11 MCQ

Question:
The art of recording all business transactions in a systematic manner in a set of books is called-
  • A
  • B
  • C
  • D
Question:
The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –
  • A
  • B
  • C
  • D
Question:
Cash, goods or assets invested by the proprietor in the business for earning profit is called-
  • A
  • B
  • C
  • D
Question:
The person, firm or institution who does not pay the price in cash for the goods purchased or the services received is called-
  • A
  • B
  • C
  • D
Question:
Book – keeping is-
  • A
  • B
  • C
  • D
Question:
Trade discount is given on credit transactions only.
  • A
  • B
  • C
  • D
Question:
Furniture purchased by a Trader dealing in Furniture will be treated as ‘purchases’ for him.
  • A
  • B
  • C
  • D
Question:
Cash is a Fixed Asset of a Business.
  • A
  • B
  • C
  • D
Question:
The goods invested at the commencement of the business is called closing stock.
  • A
  • B
  • C
  • D

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