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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 75,000. Its accumulated depreciation is 71,000 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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