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11th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Five

11th Standard

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Accountancy

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

    Answer all the questions

    10 x 1 = 10
  1. ________________of a firm has to make innumerable routine and strategic decisions while discharging its functions.

    (a)

    Book-keeping

    (b)

    Accounts

    (c)

    Management

    (d)

    All the above

  2. Unsold goods lying is a business on a particular date are known as _________.

    (a)

    Stock

    (b)

    creditor

    (c)

    debtor

    (d)

    cash

  3. __________ refers to choosing a desirable course of action from alternative course of actions.

    (a)

    Control

    (b)

    Forecasting 

    (c)

    Decision Making 

    (d)

    None of the above

  4. Matching concept means __________.

    (a)

    Transactions recorded at accrul concept 

    (b)

    Anticipate no profit but recognize all losses 

    (c)

    Asset=capital-liabilities 

    (d)

    Expenses=Revenue

  5. The column of ledger which links the entry with Journal is _________________

    (a)

    L.F. Column

    (b)

    J.F. Column

    (c)

    Particulars Column

    (d)

    Amount Column

  6. On 1st January 2017, if kennedy draws a bill on Sundar for three months, its due date is _____

    (a)

    4th April, 2017

    (b)

    1st April, 2017

    (c)

    31st March, 2017

    (d)

    None of the above

  7. The net loss which arises in a business is an example of __________

    (a)

    Revenue loss

    (b)

    Capital loss

    (c)

    Neither of the two

    (d)

    None of these

  8. Expenses which have been incurred in the accounting period but not paid till the end of the accounting period are called______.

    (a)

    Outstanding expenses

    (b)

    Prepaid expenses

    (c)

    Accrued income

    (d)

    Income received in advance

  9. Debts which cannot be recovered or irrecoverable are called _________.

    (a)

    Bad debts 

    (b)

    Depreciation

    (c)

    Closing stock

    (d)

    Capital

  10. A computer system mainly has _________ components.

    (a)

    two

    (b)

    three

    (c)

    four

    (d)

    five

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