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

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. ______________ wrote his 'Summa de arithmetical'.

    (a)

    Kautilya

    (b)

    Valluvar

    (c)

    Luca pacioli

    (d)

    Chanakaya

  2. ___________ is the amount incurred in order to produce and sell the goods and services.

    (a)

    Creditor

    (b)

    Debtor

    (c)

    Stock

    (d)

    Expense

  3. ________ is said to be the root of accounting.

    (a)

    Cost Accounting

    (b)

    Stewardship Accounting

    (c)

    Management Accounting

    (d)

    None of the above

  4. ASB stands for________________

    (a)

    Accounting Standard Board

    (b)

    Accounting Standard Business

    (c)

    Accounting Statistics Business

    (d)

    Accounting Standard Books

  5. Real account deals with ______

    (a)

    Individual persons

    (b)

    Expenses and losses

    (c)

    Assets

    (d)

    Incomes and gains

  6. A debit note is called as _______

    (a)

    debit memo

    (b)

    credit memo

    (c)

    pay-in-slip

    (d)

    receipts

  7. Which one of the following is the most popular method of preparing a trial balance.

    (a)

    Total method

    (b)

    Balance method

    (c)

    Trial and error method

    (d)

    Line method

  8. Closing entries are recorded in _____

    (a)

    Cash book

    (b)

    Ledger

    (c)

    Journal proper

    (d)

    Purchases book

  9. Postage stamps purchased for 50 by the business. This transaction will be recorded in ___________

    (a)

    Petty cash book

    (b)

    Purchase book

    (c)

    Sales book

    (d)

    Bills receivable book

  10. A fixed asset was bought for 7 5,000. Its accumulated depreciation is 7 1,000 and rate depreciation is 10%. What are the depreciation expenses for the current accounting period using reducing balance method?

    (a)

    Rs.600

    (b)

    Rs.2000

    (c)

    Rs.500

    (d)

    Rs.400

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