NCERT Class 11 Accountancy MCQ : Financial Statements 2
Embark on a comprehensive journey through the realm of financial reporting with our specialized Multiple Choice Questions (MCQs) page on “Financial Statements 2,” featuring questions meticulously sourced from previous year papers across diverse exams, including the esteemed UPSC IAS and more. Immerse yourself in the intricacies of financial documentation, explore advanced statement analysis, and test your understanding of complex accounting principles through a curated set of questions designed to cater to aspirants preparing for various competitive sectors.
Our MCQs on “Financial Statements 2” cover crucial topics such as cash flow statements, ratio analysis, and advanced financial reporting concepts. Whether you are gearing up for UPSC IAS or other competitive exams, these questions provide a strategic approach to mastering the principles governing advanced financial statements.
What sets our MCQs apart? Each question is thoughtfully selected from authentic exam scenarios, offering a practical and effective way to prepare. By engaging with these questions, you not only familiarize yourself with the exam pattern but also deepen your understanding of the intricate details within financial reporting.
Prepare with confidence, knowing that our “Financial Statements 2” MCQs are designed to empower you with the knowledge and analytical skills necessary to excel in UPSC IAS and various competitive exams. Define financial clarity with precision and insight
NCERT Class 11 Accountancy : Financial Statements 2 MCQ – NCERT Class 11 MCQ
Question:
Outstanding Expenses are related to-
A
B
C
D
Question:
Prepaid expenses are shown in-
A
B
C
D
Question:
Charity of goods is-
A
B
C
D
Question:
If a person fails to pay his debt, such amount is considered as-
A
B
C
D
Question:
The object of non – trading concerns-
A
B
C
D
Question:
Such persons who earn remuneration against their services are called
A
B
C
D
Question:
Which of the following is not an item of income of Non – trading concern –
A
B
C
D
Question:
Receipt and payment account is a summary of-
A
B
C
D
Question:
Which of the following is recorded in income & expenditure account –
A
B
C
D
Question:
Depreciation is charged only in case of profits.
A
B
C
D
Question:
Unearned Income is recorded in Asset side.
A
B
C
D
Question:
Interest on Capital is income for the business.
A
B
C
D
Question:
Drawing of goods is deducted from purchases.
A
B
C
D
Question:
Doctor employed with government is an example of non – trading
A
B
C
D
Question:
Professional people maintain their accounts according to cash system
A
B
C
D
Question:
Income & expenditure account reveals cash balance.
A
B
C
D
Question:
Capital items are written in Receipts & payments account.
