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11th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 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. The concept which assumes that a business will last indefinitely is

    (a)

    Business Entity

    (b)

    Going concern

    (c)

    Periodicity

    (d)

    Conservation

  2. ___________ requires that all accounting transactions recorded should be based on objective evidence.

    (a)

    Matching concept

    (b)

    Cost concept

    (c)

    Dual aspect concept

    (d)

    Objective evidence concept

  3. An entry is passed in the beginning of current year is called

    (a)

    Original entry

    (b)

    Final entry

    (c)

    Opening entry

    (d)

    Adjusting entry

  4. The amount brought into the business by the proprietor should be credited to

    (a)

    Cash account

    (b)

    Drawings account

    (c)

    Capital account

    (d)

    Suspense account

  5. Posting on the Credit side of an account is written as _______________

    (a)

    To

    (b)

    By

    (c)

    Being

    (d)

    Narration

  6. Net position of an account can be ascertained from ________.

    (a)

    Journal

    (b)

    Ledger

    (c)

    Trial balance

    (d)

    Balance sheet

  7. Credit balance in the bank column of the cash book means

    (a)

    Credit balance as per bank statement

    (b)

    Debit  balance as per bank statement

    (c)

    overdraft as per cash book

    (d)

    None of these above

  8. Under the written down value method of depreciation, the amount of depreciation is

    (a)

    Uniform in all the years

    (b)

    Decreasing every year

    (c)

    Increasing every year

    (d)

    None of the above

  9. The Non-depreciable fixed asset is ___________

    (a)

    Plant and machinery

    (b)

    Building

    (c)

    Land

    (d)

    Vehicles

  10. Salaries appearing in the trial balance is shown on the

    (a)

    Debit side of trading account

    (b)

    Debit side of profit and loss account

    (c)

    Liabilities side of the balance sheet

    (d)

    Assets side of the balance sheet

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