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11th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020

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. Financial position of a business is ascertained on the basis of ______________ .

    (a)

    Journal

    (b)

    Trial balance

    (c)

    Balance Sheet

    (d)

    Ledger

  2. Financial or business transaction is recorded, according to accrual concept of accounting ________.

    (a)

    When Cash is received or paid 

    (b)

    When transaction occurs

    (c)

    When Profit is Compted 

    (d)

    When balance sheet is prepared

  3. An entry is passed in the beginning of current year is called

    (a)

    Original entry

    (b)

    Final entry

    (c)

    Opening entry

    (d)

    Adjusting entry

  4. Purchases of fixed assets on credit basis is recorded in_______

    (a)

    Purchases book

    (b)

    Sales book

    (c)

    Purchases returns book

    (d)

    Journal proper

  5. Debit balance in the bank column of the cash book means ____________.

    (a)

    Credit balance as per bank statement

    (b)

    Debit balance as per bank statement

    (c)

    Overdraft as per cash book

    (d)

    None of the above

  6. ________________can also be made through bank

    (a)

    Payments

    (b)

    Receipts

    (c)

    Both

    (d)

    None of these

  7. Goods returned by Senguttuvan were taken into stock, but no entry was passed in the books. While rectifying this error, which of the following accounts should be debited?

    (a)

    Senguttuvan account

    (b)

    Sales returns account

    (c)

    Returns outward account

    (d)

    Purchases returns account

  8. ______________ are the resources owned by the business.

    (a)

    Purchases

    (b)

    Capital

    (c)

    Liabilities

    (d)

    Assets

  9. If there is no existing provision for doubtful debts, provision created for doubtful debts is

    (a)

    Debited to bad debts account

    (b)

    Debited to sundry debtors account

    (c)

    Credited to bad debts account

    (d)

    Debited to profit and loss account

  10. ______ earned during the period must be compared with the expenses incurred during the period.

    (a)

    Incomes

    (b)

    Revenues

    (c)

    Profit

    (d)

    Loss

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