{"id":6985,"date":"2023-11-23T20:01:35","date_gmt":"2023-11-23T14:31:35","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=6985"},"modified":"2023-11-23T20:02:26","modified_gmt":"2023-11-23T14:32:26","slug":"ncert-class-11-accountancy-mcq-9","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/ncert-class-11-accountancy-mcq-9\/","title":{"rendered":"NCERT Class 11 Accountancy\u00a0MCQ :\u00a0Financial Statements 2"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-accountancy-mcq-9\/#NCERT_Class_11_Accountancy_MCQ_Financial_Statements_2\" >NCERT Class 11 Accountancy&nbsp;MCQ :&nbsp;Financial Statements 2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-accountancy-mcq-9\/#NCERT_Class_11_Accountancy_Financial_Statements_2_MCQ_%E2%80%93_NCERT_Class_11_MCQ\" >NCERT Class 11 Accountancy&nbsp;: Financial Statements 2 MCQ &#8211; NCERT Class 11 MCQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-accountancy-mcq-9\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Accountancy_MCQ_Financial_Statements_2\"><\/span>NCERT Class 11 <strong>Accountancy&nbsp;<\/strong>MCQ :&nbsp;Financial Statements 2<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Embark on a comprehensive journey through the realm of financial reporting with our specialized Multiple Choice Questions (MCQs) page on &#8220;Financial Statements 2,&#8221; 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.<\/p>\n\n\n\n<p>Our MCQs on &#8220;Financial Statements 2&#8221; 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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Prepare with confidence, knowing that our &#8220;Financial Statements 2&#8221; 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<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Accountancy_Financial_Statements_2_MCQ_%E2%80%93_NCERT_Class_11_MCQ\"><\/span>NCERT Class 11 <strong><strong><strong>Accountancy&nbsp;<\/strong><\/strong><\/strong>: Financial Statements 2 MCQ<strong> &#8211; NCERT Class 11 MCQ<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Outstanding Expenses are related to-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92403\">Current year<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92403\"> Next year<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92403\">Last year<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92403\"> None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Prepaid expenses are shown in-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92405\"> Liability side<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92405\"> Asset side<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92405\">Assets or Liability side<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92405\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Charity of goods is-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92408\">Expenses<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92408\"> Loss<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92408\"> Profit<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92408\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">If a person fails to pay his debt, such amount is considered as-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92409\"> Bad debts<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92409\">Bad debts recovered<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92409\">Provision for Bad debt<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92409\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The object of non \u2013 trading concerns-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92410\">Social service<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92410\"> Profit earning<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92410\">Both of these<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92410\"> None of the above.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Such persons who earn remuneration against their services are called <\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92412\"> Seller<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92412\">Purchaser<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92412\"> Professional<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92412\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not an item of income of Non \u2013 trading concern \u2013<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92414\"> Entrance fees<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92414\">Interest<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92414\"> Govt. Aid<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92414\"> Salary.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Receipt and payment account is a summary of-<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92416\"> Income &amp; Expenditure account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92416\"> Profit &amp; Loss A\/c<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92416\"> Cash \u2013 book<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92416\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is recorded in income &amp; expenditure account \u2013<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92419\"> Revenue items<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92419\"> Capital items<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92419\">Revenue and capital items<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92419\">None of these.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Depreciation is charged only in case of profits.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92420\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92420\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92420\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92420\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Unearned Income is recorded in Asset side.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92422\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92422\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92422\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92422\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Interest on Capital is income for the business.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92424\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92424\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92424\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92424\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Drawing of goods is deducted from purchases.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92425\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92425\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92425\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92425\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Doctor employed with government is an example of non \u2013 trading<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92427\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92427\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92427\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92427\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Professional people maintain their accounts according to cash system<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92429\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92429\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92429\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92429\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\"> Income &amp; expenditure account reveals cash balance.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92430\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92430\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92430\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92430\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Capital items are written in Receipts &amp; payments account.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92432\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92432\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92432\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92432\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">No adjustment is made in Receipt &amp; payment A\/c.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_92433\">Yes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_92433\">No<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_92433\"><\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_92433\"><\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  $('.show-answer').click(function() {\r\n    var answer = $(this).data('answer');\r\n    $(this).siblings('.answer-box').html('The correct answer is: ' + answer).slideDown();\r\n    $(this).hide();\r\n  });\r\n});\r\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Links\"><\/span>Some Important Links <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 1 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 2 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-3\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 3 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-4\/\">NCERT CLASS 4 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-5\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 5 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-6\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 6 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--7\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-7\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 7 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--8\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-8\/\">NCERT CLASS 8 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--9\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-9\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 9 MCQ<span style=\"color: rgb(115, 135, 156); font-family: &quot;Helvetica Neue&quot;, Roboto, Arial, &quot;Droid Sans&quot;, sans-serif; font-size: 13px; text-align: start; white-space: normal;\">Accountancy&nbsp;<\/span><\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--10\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-10\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 10 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--11\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-11\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 11 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--12\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-12\/\">NCERT CLASS 12 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>NCERT Class 11 Accountancy&nbsp;MCQ :&nbsp;Financial Statements 2 Embark on a comprehensive journey through the realm of financial reporting with our specialized Multiple Choice Questions (MCQs) page on &#8220;Financial Statements 2,&#8221; 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 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[70],"tags":[5135,5177,5175,109,5174,589,5176,590],"class_list":["post-6985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-11","tag-accounting-principles","tag-advanced-financial-reporting-concepts","tag-cash-flow-statements","tag-competitive-exams","tag-financial-statements-2","tag-previous-year-papers","tag-ratio-analysis","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=6985"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6985\/revisions"}],"predecessor-version":[{"id":6994,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6985\/revisions\/6994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/6991"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=6985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=6985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=6985"}],"curies":[{"name":"wp","href":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