NCERT Class 11 Accountancy MCQ : Recording of Transactions 1
Embark on a journey of financial expertise with our specialized Multiple Choice Questions (MCQs) page dedicated to “Recording of Transactions 1.” Dive into the intricacies of accounting fundamentals by exploring questions carefully curated from previous year papers across diverse sectors, including the prestigious UPSC IAS exams.
This resource is tailored to provide a comprehensive understanding of the recording process, covering the essentials of transactions in accounting. Whether you’re a student or a professional preparing for competitive exams, these MCQs offer a strategic approach to mastering the nuances of financial record-keeping.
Prepare with confidence, knowing that our collection mirrors the diverse question formats encountered in exams across different sectors. From the basics of double-entry bookkeeping to advanced transaction recording principles, this page serves as a valuable tool for honing your accounting skills.
Gain a competitive edge by accessing insights derived from real-world applications and historical perspectives embedded in our MCQs. Navigate through the intricacies of financial transactions confidently, armed with knowledge distilled from previous year papers and designed to help you excel in exams.
NCERT Class 11 Accountancy : Recording of Transactions 1 MCQ – NCERT Class 11 MCQ
Question:
The Mathematical Expression defining the comparative relationship between Assets and Liabilities of any person, institution or Business concern is called-
A
B
C
D
Question:
Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
A
B
C
D
Question:
The basis of recording transactions is-
A
B
C
D
Question:
As per American Belief, Accounts are of how many types-
A
B
C
D
Question:
Which of the following is entered in cash – book-
A
B
C
D
Question:
Cash – book always show-
A
B
C
D
Question:
The cash – book meant for recording petty expenses is called –
A
B
C
D
Question:
The entry which affects cash and bank column of a triple column cash – book is known as –
A
B
C
D
Question:
What statement is used while closing a Drawing Account-
A
B
C
D
Question:
The entry which is passed for bringing forward the balances of personal and Real Account as shown in the last year’s balance sheet is called –
A
B
C
D
Question:
The balance of good’s Account is transferred to-
A
B
C
D
Question:
Which Account is opened first in ledger book-
A
B
C
D
Question:
How many columns are there in a Ledger (in one side)-
A
B
C
D
Question:
Assets = Liabilities – Capital.
A
B
C
D
Question:
The sum of Assets is equal to the sum of liabilities.
A
B
C
D
Question:
Capital Account represents owner’s Account in Business.
A
B
C
D
Question:
Assets – Liabilities = Capital.
A
B
C
D
Question:
No need of voucher to be written.
A
B
C
D
Question:
Cash – book is only a subsidiary book.
A
B
C
D
Question:
When a cheque is received, it is recorded in both sides of cash – book?
