NCERT Class 11 Accountancy MCQ : Financial Statements 1

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Financial Statements 1
Financial Statements 1

NCERT Class 11 Accountancy MCQ : Financial Statements 1

Embark on a journey of financial acumen with our specialized Multiple Choice Questions (MCQs) page dedicated to “Financial Statements 1.” Immerse yourself in the world of financial reporting and analysis as you tackle questions meticulously curated from previous year papers across diverse sectors, including the esteemed UPSC IAS exams.

This resource is designed to provide a comprehensive understanding of financial statements, covering key concepts in accounting and reporting. Whether you’re a student or a professional preparing for competitive exams, these MCQs offer a strategic approach to mastering the intricacies of financial reporting.

Prepare confidently, knowing that our collection mirrors the diverse question formats encountered in exams across different sectors. From the basics of income statements to the complexities of balance sheets, this page serves as a valuable tool for honing your financial statement analysis skills.

Gain a competitive edge by accessing insights derived from real-world applications and historical perspectives embedded in our MCQs. Navigate through the complexities of financial statements confidently, armed with knowledge distilled from previous year papers and designed to help you excel in exams

NCERT Class 11 Accountancy : Financial Statements 1 MCQ – NCERT Class 11 MCQ

Question:
Trading Account discloses-
  • A
  • B
  • C
  • D
Question:
Direct Expenses are entered in:
  • A
  • B
  • C
  • D
Question:
Profit and loss Account discloses:
  • A
  • B
  • C
  • D
Question:
Goodwill is a-
  • A
  • B
  • C
  • D
Question:
Drawing is deducted from:
  • A
  • B
  • C
  • D
Question:
Capital is a fixed Liability.
  • A
  • B
  • C
  • D
Question:
Closing stock is not shown in balance sheet.
  • A
  • B
  • C
  • D
Question:
Balance sheet is prepared on the basis of Trial balance.
  • A
  • B
  • C
  • D
Question:
Bad debt reserve is a loss.
  • A
  • B
  • C
  • D
Question:
Interest on drawings is loss of owner.
  • A
  • B
  • C
  • D

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