Introduction to Accounting Important Questions

11th Standard

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  1. The root of financial accounting system is _________

    (a)

    Social accounting

    (b)

    Stewardship accounting

    (c)

    Management accounting

    (d)

    Responsibility accounting

  2. Who is considered to be the internal user of the financial information

    (a)

    Creditor

    (b)

    Employee

    (c)

    Customer

    (d)

    Government

  3. ____________of a business have to be repaid in due time.

    (a)

    Assets

    (b)

    Sales

    (c)

    Liabilities

    (d)

    None of these

  4. ____________also require accounting records to submit in courts to prove their claims.

    (a)

    Salesmen

    (b)

    Owners

    (c)

    Producers

    (d)

    Businessmen

  5. ______________ wrote his 'Summa de arithmetical'.

    (a)

    Kautilya

    (b)

    Valluvar

    (c)

    Luca pacioli

    (d)

    Chanakaya

  6. 5 x 2 = 10
  7. Define accounting.

  8. What are the steps involved in the process of accounting?

  9. Name any two bases of recording accounting information.

  10. What is meant by drawings?

  11. What do you mean by accounting cycle?

  12. 5 x 3 = 15
  13. Discuss briefly the branches of accounting.

  14. Discuss in detail the importance of accounting

  15. Explain the objectives of Accounting?

  16. Is accounting an art or a Science?

  17. Describe the various steps involved in accounting process?

  18. 4 x 5 = 20
  19. Narrate the evolution of accounting

  20. Explain the Accounting cycle

  21. What are the bases of accounting? and briefly explain it.

  22. Describe the informational needs of external users

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