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11th Standard Accounts English Medium Free Online Test Book Back One Mark Questions - Part Three

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

    (a)

    Creditor

    (b)

    Employee

    (c)

    Customer

    (d)

    Government

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

    (a)

    Business Entity

    (b)

    Going concern

    (c)

    Periodicity

    (d)

    Conservation

  3. In India, Accounting Standards are issued by

    (a)

    Reserve Bank of India

    (b)

    The Cost and Management Accountants of India

    (c)

    Supreme Court of India

    (d)

    The Institute of Chartered Accountants of India

  4. Which of the following is/are the objective(s) of preparing trial balance?

    (a)

    Serving as the summary of all the ledger accounts

    (b)

    Helping in the preparation of final accounts

    (c)

    Examining arithmetical accuracy of accounts

    (d)

    a, band c

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

    (a)

    Purchases book

    (b)

    Sales book

    (c)

    Purchases returns book

    (d)

    Journal proper

  6. When money is withdrawn from bank, the bank ____________.

    (a)

    Credits customer's account

    (b)

    Debits customer's account

    (c)

    Debits and credits customer's account

    (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. Depreciation provided on machinery is debited to

    (a)

    Depreciation account

    (b)

    Machinery account

    (c)

    Trading account

    (d)

    Provision for depreciation account

  9. Drawings appearing in the trial balance is

    (a)

    Added to the purchases

    (b)

    Subtracted from the purchases

    (c)

    Added to the capital

    (d)

    Subtracted from the capital

  10. Which one of the following is not a method of codification of accounts?

    (a)

    Access codes

    (b)

    Sequential codes

    (c)

    Block codes

    (d)

    Mnemonic codes

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