New ! Accountancy MCQ Practise Tests

11th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Five

11th Standard

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Accountancy

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

    Answer all the questions

    10 x 1 = 10
  1. The balance in the trading account is the gross profit or __________.

    (a)

    Net profit

    (b)

    Net loss

    (c)

    gross loss

    (d)

    balance

  2. Basic unit for measurement in accounting is _______

    (a)

    account

    (b)

    voucher

    (c)

    monetary value

  3. The term TDS in taxation refers to _______

    (a)

    Tax Dissolved

    (b)

    Tax Deducted Source

    (c)

    Both

  4. 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

  5. _____________ is the process of managing the income and expenses of a business firm.

    (a)

    Economic

    (b)

    Statistics

    (c)

    Accountancy

    (d)

    None of these

  6. Business distinct from owner. This concept is called _________.

    (a)

    Going Concern Concept

    (b)

    Separate Entity concept

    (c)

    Money Measurement Concept

    (d)

    Revenue Realization Concept

  7. Purchased goods from Venkat for each should be credited to

    (a)

    Venkat A/c

    (b)

    Cash A/c

    (c)

    Purchase A/c

    (d)

    Goods A/c

  8. Rent payable to the landlord Rs. 5,00,000 is credited to________.

    (a)

    Cash Account

    (b)

    Landlord Account

    (c)

    Outstanding Rent Account

    (d)

    None of the above

  9. ________ accounts give the net amount due to creditor and the net amount due from debtors.

    (a)

    Real

    (b)

    Personal

    (c)

    Nominal

    (d)

    Ledger

  10. If the rate of depreciation is same, then the amount of depreciation under straight line method vis-à-vis written down value method will be

    (a)

    Equal in all years

    (b)

    Equal in the first year but higher in subsequent years

    (c)

    Equal in the first year but lower in subsequent years

    (d)

    Lower in the first year but equal in subsequent years.

*****************************************

TN 11th Standard Accountancy free Online practice tests

Reviews & Comments about 11th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Five

Write your Comment