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

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. Accounting which is used to determine the cost of products ( or) services is ______ accounting.

    (a)

    Cost

    (b)

    Financial

    (c)

    Management

  2. GAAPs are:

    (a)

    Generally Accepted Accounting Policies

    (b)

    Generally Accepted Accounting Principles

    (c)

    Generally Accepted Accounting Provisions

    (d)

    None of these

  3. Goods given as charity should be credited to___________.

    (a)

    Purchases account

    (b)

    Journal proper

    (c)

    Cash book

    (d)

    Charity Account

  4. Under the diminishing balance method of depreciation ____________

    (a)

    Both rate of depreciation and amount of depreciation are reduced every year

    (b)

    Only the amount of depreciation is reduced every year

    (c)

    Only the rate of depreciation is reduced every year

    (d)

    None of the above

  5. Balance sheet is ____________.

    (a)

    An account

    (b)

    A statement

    (c)

    Neither a statement nor an account

    (d)

    None of the above

  6. The unsold goods in stock at the end of the accounting period Is termed as ______

    (a)

    Opening stock

    (b)

    Average stock

    (c)

    Closing stock

    (d)

    None of these

  7.  Wages outstanding is_________.

    (a)

    an asset 

    (b)

    a liability

    (c)

    an income

    (d)

    an expense 

  8. _____ is a loss to the business arising out of failure of a debtor to pay the dues

    (a)

    Bad debts

    (b)

    Loan

    (c)

    Sundry Debtors

    (d)

    Provision for Bad and Doubtful debts

  9. _____________ is free from tiredness and lack of concentration.

    (a)

    Printer

    (b)

    Computer

    (c)

    Scanner

    (d)

    Projector

  10. ________________ packages are used by small and conventional business enterprises.

    (a)

    Readymade

    (b)

    customised

    (c)

    Tailor-made

    (d)

    None of these

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