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

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. _______________is concerned with identification, quantification and reporting of investments made in human resources.

    (a)

    Management Accounting

    (b)

    Human Resource Accounting

    (c)

    Cost Accounting

    (d)

    Financial Accounting

  3. Who is considered to be the external user of the financial information?

    (a)

    Employee

    (b)

    Owners

    (c)

    Management

    (d)

    Creditors

  4. Incapability of a person or an enterprise to pay the debts is known as ______

    (a)

    Solvent

    (b)

    Insolvency

    (c)

    Bad debt

  5. As per dual aspect concept, every business transaction has___________

    (a)

    Three aspects

    (b)

    One aspect

    (c)

    Two Aspects

    (d)

    Four Aspects

  6. Sales return book is used to record_________

    (a)

    Returns of goods by the customer for which cash is paid immediately

    (b)

    Returns of goods by the customer for which cash is not paid immediately

    (c)

    Returns of assets by the customer for which cash is not paid immediately

    (d)

    Returns of assets by the customer for which cash is paid immediately

  7. Sinking Fund is also known as

    (a)

    Depletion Method

    (b)

    Annuity method

    (c)

    Depreciation Fund method

    (d)

    None of the above

  8. Pre-operative expenses are

    (a)

    Revenue expenditure

    (b)

    Prepaid revenue expenditure

    (c)

    Deferred revenue expenditure

    (d)

    Capital expenditure

  9. Deferred revenue expenditure is to be written off ___________

    (a)

    In the year in which the expenses are incurred

    (b)

    In the year in which the benefit of expenses are exhausted

    (c)

    Within 3 to 5 years

    (d)

    Within 5 to 10 years

  10. Return inwards are deducted from ______

    (a)

    Purchase

    (b)

    Sales

    (c)

    Returns outward

    (d)

    Gross profit

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