New ! Accountancy MCQ Practise Tests



11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Creative 1 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Accountancy

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5
  1. The income which has been earned during the current accounting year but .not received till the end of that accounting year is called as _____

    (a)

    Outstanding expenses

    (b)

    Prepaid expenses

    (c)

    accrued income

    (d)

    Received income

  2. ______ is treated asbusiness expense.

    (a)

    Interest on capital

    (b)

    Interest on drawings

    (c)

    Both 'a' and 'b"

    (d)

    None of these

  3. ______ is provided because the proprietor is separate from the business.

    (a)

    Capital

    (b)

    Drawing

    (c)

    Income

    (d)

    Interest

  4. The decrease in value of fixed assets due to usage or passage of time is called ______

    (a)

    Depreciation

    (b)

    Expenses

    (c)

    Incomes

    (d)

    Miscellaneous

  5. _______ is a loss for the business and should be adjusted against profit.

    (a)

    Interest on Capital

    (b)

    Depreciation

    (c)

    Debtors

    (d)

    Bad debts

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

Reviews & Comments about 11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - II Creative 1 Mark Questions with Solution Part - II updated Creative Questions

Write your Comment