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

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. ________________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. A person who owns a business is called ___________

    (a)

    Creditor

    (b)

    Proprietor

    (c)

    Debtor

    (d)

    Solvent

  3. _______________are made for outstanding and prepaid expenses and income.

    (a)

    Adjustments

    (b)

    Journals

    (c)

    Ledger

    (d)

    Trial balance

  4. Which of the following is a cash transaction

    (a)

    Sold goods

    (b)

    Sold goods to Ram

    (c)

    Sold goods to Ram on credit

    (d)

    Sold goods to Ram on account

  5. The account which has a debit balance and is shown in the debit column of the trial balance is_______

    (a)

    Sundry creditors account

    (b)

    Bills payable account

    (c)

    Drawings account

    (d)

    Capital account

  6. _____________ is prepared on a specific data.

    (a)

    Trial Balance

    (b)

    Journal

    (c)

    Ledger

    (d)

    All of the above

  7. Business concerns are always profit motivated and try to increase their _____

    (a)

    Purchases

    (b)

    Production

    (c)

    Sales

    (d)

    None of these

  8. When a firm maintains a simple cash book, it need not maintain_______.

    (a)

    Sales account in the ledger

    (b)

    Purchases account in the ledger

    (c)

    Capital account in the ledger

    (d)

    Cash account in the ledger

  9. A transaction not recorded at all is known as an error of

    (a)

    Principle

    (b)

    Complete omission

    (c)

    Partial omission

    (d)

    Duplication

  10. Interest on bank deposits is

    (a)

    Capital receipt

    (b)

    Revenue receipt

    (c)

    Capital expenditures

    (d)

    Revenue expenditures

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