MCQ Class 11 Accountancy Chapter 11 Accounts From Incomplete Records With Answer

MCQ Class 11 Accountancy Chapter 11 : MCQ Questions for Class 11 Accountancy Chapter 11 Accounts from Incomplete Records with Answers PDF Free Download prepared here according to the latest CBSE RBSE and Other State Board syllabus and NCERT curriculum.

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MCQ Class 11 Accountancy Chapter 11 Wise with answer and Free PDF Download

MCQ Class 11 Accountancy Chapter 11 Accounts from Incomplete Records with answer

Q1. A system of accounting which is not based on double entry system is called-

(a) Cash system
(b) Mahajani system of accounting
(c) Incomplete accounting system
(d) None of these.

Q2. Accounts which are maintained under single entry system-

(a) Personal accounts
(b) Impersonal accounts
(c) (a) & (b) both
(d) None of these.

(a) Personal accounts

Q3. Statement of affairs is prepared to-

(a) Know about assets
(b) Know about liabilities
(c) Calculate capital
(d) Know financial position.

Q4. Liabilities and assets amount to Rs. 50,000 and Rs. 78,000 respectively. The difference amount will represent-

(a) Creditors
(b) Debentures
(c) Profit
(d) Capital.

(d) Capital.

Q5. Generally incomplete records are maintained by-

(a) Trader
(b) Society
(c) Company
(d) Government.

(a) Trader

Q6. Incomplete record mechanism of book keeping is

(a) Scientific
(b) Unscientific
(c) Unsystematic
(d) Both (b) and (c)

(b) Unscientific

Q7. Opening capital is ascertained by preparing

(a) Total debtor’s account
(b) Total creditor’s account
(c) Cash account
(d) Opening statement of affairs

(d) Opening statement of affairs

Q8. Credit purchase, during the year is ascertained by preparing :

(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs

(a) Total creditor’s account

Q9. If Opening capital is Rs. 60,000, drawings Rs. 5,000, capital introduced during the period Rs. 10,000, closing capital Rs. 90,000. The value of profit earned during the period will be:

(a) Rs. 20,000
(b) Rs. 25,000
(c) Rs. 30,000
(d) Rs. 40,000

(b) Rs. 25,000

Write the correct word(s)

Q10. Credit sales can be ascertained as the balancing figure in the …………….. account.

Q11. Excess of ……………. over ……………… represents loss sustained during the period.

opening capital, closing capital

Q12. To ascertain the profit, closing capital is to be adjusted by deducting ………………. and adding …………….

additional capital introduced, drawings during the year

Q13. Incomplete records are generally used by ……………….

small traders.

Q14. Single entry system can be adopted by ………………

Sole trader or partnership firm

Q15. …………… Accounts are maintained under single entry system.

Personal

Q16. Single entry system is not a …………….. system of maintaining accounts.

Scientific

Q17. While calculating profit. Drawings will be added to …………….

Closing capital

State True or False:

Q18. Profit can be determined by preparing statement of affairs in single entry system.

True

Q19. Single entry system cannot be converted into double entry system.

False

Q20. Excess of assets over liabilities is called capital.

True

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MCQ Questions for Class 11 Accountancy: Financial Accounting

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