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11th Standard Accounts Books of Prime Entry English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

    Reg.No. :
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Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. The business is liable to the proprietor of the business in respect of capital introduced by the person according to

    (a)

    Money measurement concept

    (b)

    Cost concept

    (c)

    Business entity concept

    (d)

    Dual aspect concept

  2. The concept which assumes that a business will last indefinitely is

    (a)

    Business Entity

    (b)

    Going concern

    (c)

    Periodicity

    (d)

    Conservation

  3. The rule of stock valuation 'cost price or realisable value' whichever is lower is based on the accounting principle of :

    (a)

    Materiality

    (b)

    Money measurement

    (c)

    Conservatism

    (d)

    Accrual

  4. Which of the following does not follow dual aspect concept?

    (a)

    Increase in one asset and decrease in other asset

    (b)

    Increase in both asset liability

    (c)

    Decrease in one asset and decrease in other asset

    (d)

    Increase in one asset and increase in capital

  5. ___________ involves recording business transactions of financial nature in the books of accounts.

    (a)

    Balance Sheet

    (b)

    Trial balance

    (c)

    book keeping

    (d)

    All the above

  6. ____________ is a branch of knowledge.

    (a)

    Accountancy

    (b)

    Accounting

    (c)

    book keeping

    (d)

    double entry

  7. According to _____________ concept only business transactions are recorded.

    (a)

    Dual aspect

    (b)

    Cost

    (c)

    Business entity

    (d)

    Money measurement

  8. International Financial reporting standards established in __________

    (a)

    1947

    (b)

    1956

    (c)

    1970

    (d)

    1973

  9. The rule' evry transactions affects two or more ledger accounts' is based on the concept of______

    (a)

    Going concern

    (b)

    Double entry system of book-keeping

    (c)

    Money measurement

    (d)

    Periodicity

  10. Which one of the following is not a fundamental accounting assumption?

    (a)

    Going concern

    (b)

    Consistency

    (c)

    Prudence

    (d)

    Accrual

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TN 11th Standard Accountancy free Online practice tests

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