In this question paper, some of the important one mark questions are covered. The chapter that covers the questions are

Introduction To Accounting
Conceptual Framework of Accounting
Books of Prime Entry
Ledger Trial Balance
Subsidiary Books - I
Subsidiary Books - II
Bank Reconciliation Statement
Rectification of Errors
Depreciation Accounting
Capital And Revenue Transactions
Final Accounts of Sole Proprietors - I
Final Accounts of Sole Proprietors - Ii
Computerised Accounting

Download Tamil Nadu 11th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

Questions:

Multiple Choice Question

50 x 1 = 50

This account is frequently balanced to ascertain cash on hand ________

(a)

trial balance

(b)

asset account

(c)

cash account

(d)

bank account

Cash account is a _____________

(a)

Personal account

(b)

Real account

(c)

Nominal account

(d)

None of the above

Which of the following is the first step in the accounting process?

(a)

Identifying the financial transactions

(b)

Transfering the entries from journal to ledger

(c)

Preparation of Trial balance

(d)

Preparation of balance sheet

Accounts involved in this transaction, 'commenced business with cash' are ______________

(a)

Nominal accounts

(b)

Personal accounts

(c)

Real accounts

(d)

both (a) & (b)

If there is no existing provision for doubtful debts, provision created for doubtful debts is ______.

(a)

Debited to bad debts account

(b)

Debited to sundry debtors account

(c)

Credited to bad debts account

(d)

Debited to profit and loss account

People who write codes and programes are called as _______.

(a)

System analysts

(b)

System designers

(c)

System operators

(d)

System programmers

Expand CAS ________

(a)

Common Application Software

(b)

Computerised Accounting System

(c)

Centralised Accounting System

(d)

Certified Accounting System

A depreciable asset may suffer obsolescence due to______.

(a)

Passage of time

(b)

Wear and tear

(c)

Technological changes

(d)

None of the above

Depreciation is caused by ____.

(a)

Lapse of time

(b)

Usage

(c)

Obsolescence

(d)

a, b and c

10.

Under straight line method, the amount of depreciation is ____.

(a)

Increasing every year

(b)

Decreasing every year

(c)

Constant for all the years

(d)

Fluctuating every year

11.

Which of the following errors will be rectified using suspense account?

(a)

Purchases returns book was undercast by Rs.100

(b)

Goods returned by Narendran was not recorded in the books

(c)

Goods returned by Akila 900 was recorded in the sales returns book as Rs.90

(d)

A credit sale of goods to Ravivarman was not entered in the sales book

12.

Balance sheet shows the ________ of the business.

(a)

Profitability

(b)

Financial position

(c)

Sales

(d)

Purchases

13.

Closing stock is an item of ______.

(a)

Fixed asset

(b)

Current asset

(c)

Fictitious asset

(d)

Intangible asset

14.

Pre-operative expenses are ______.

(a)

Revenue expenditure

(b)

Prepaid revenue expenditure

(c)

Deferred revenue expenditure

(d)

Capital expenditure

15.

Revenue expenditure is intended to benefit ______.

(a)

Past period

(b)

Future period

(c)

Current period

(d)

Any period

16.

Expenditure incurred Rs.20,000 for trial run of a newly installed machinery will be ______.

(a)

Preliminary expense

(b)

Revenue expenditure

(c)

Capital expenditure

(d)

Deferred revenue expenditure

17.

In recent times, the copy of the records can be obtained by the customer electronically, which is called _______________

(a)

E-Commerce

(b)

ATM

(c)

E-Statement

(d)

Electronic Commerce

18.

_______________is simply a copy of the customer's account in the books of a bank.

(a)

Cash book

(b)

Bank Statement

(c)

Bank Account

(d)

None of these

19.

Balance as per bank statement is Rs. 1,000. Cheque deposited, but not yet credited by the bank is Rs. 2,000. What is the balance as per bank column of the cash book?

(a)

Rs. 3,000 overdraft

(b)

Rs. 3,000 favourable

(c)

Rs. 1,000 overdraft

(d)

Rs. 1,000 favourable

20.

Balance as per cash book is Rs. 2,000. Bank charge of Rs. 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?

(a)

Rs. 1,950 credit balance

(b)

Rs. 1,950 debit balance

(c)

Rs. 2,050 debit balance

(d)

Rs. 2,050 credit balance

21.

A bank reconciliation statement is prepared to know the causes for the difference between:

(a)

The balance as per the cash column of the cash book and bank column of the cash book.

(b)

The balance as per the cash column of the cash book and bank statement

(c)

The balance as per the bank column of the cash book and the bank statement.

(d)

The balance as per petty cash book and the cash book

22.

_____________ is prepared on a specific data.

(a)

Trial Balance

(b)

Journal

(c)

Ledger

(d)

All of the above

23.

The first step is recording the business transactions in ____________.

(a)

Subsidiary Books/Journal

(b)

Ledger

(c)

Balance Sheet

(d)

Trial balance

24.

The preparation of ___________ is the third step in the accounting process.

(a)

journal

(b)

ledger

(c)

trial balance

(d)

balance sheet

25.

Rent outstanding is _________

(a)

Nominal A/c

(b)

Personal A/c

(c)

Real A/c

(d)

Representative Personal A/c

26.

The effect of each business transaction will have the effect on accounting equation _____

(a)

always in assets only

(b)

always in liabilities only

(c)

always in assets and liabilities

(d)

always either in assets or liabilities or both

27.

________ is prepared in three copies.

(a)

Debit Note

(b)

Credit Note

(c)

Receipts

(d)

Invoice

28.

Postage stamps purchased for 50 by the business. This transaction will be recorded in ___________

(a)

Petty cash book

(b)

Purchase book

(c)

Sales book

(d)

Bills receivable book

29.

Which of the following is/are not a contra entry?

(a)

Cash deposited into bank

(b)

Cash withdrawn from bank

(c)

Cash withdrawn for personal use

(d)

None of these

30.

_________ transactions are not recorded in the cash book

(a)

Cash

(b)

Credit

(c)

Both

(d)

None of these

31.

The person who has to make the payment or who accepts to make the payment is called the _______

(a)

drawee

(b)

drawer

(c)

payee

(d)

creditor

32.

Accounting equation signifies

(a)

Capital of a business is equal to assets

(b)

Liabilities of a business are equal to assets

(c)

Capital of a business is equal to liabilities

(d)

Assets of a business always equal to the total of capital and liabilities

33.

Purchases book does not keep record of purchases of _____

(a)

assets

(b)

liabilities

(c)

goods

(d)

none of these

34.

In Triple column cash book, the balance of bank overdraft brought forward will appear in_________

(a)

Cash column debit side

(b)

Cash column credit side

(c)

Bank column debit side

(d)

Bank column credit side

35.

The source document or voucher used for recording entries in sales book is ____

(a)

Debit note

(b)

Credit note

(c)

Invoice

(d)

Cash receipt

36.

A periodic total of the purchases book is posted to the _______

(a)

debit side of the purchases account

(b)

debit side of the sales account

(c)

credit side of the purchases account

(d)

credit side of the sales account

37.

A list which contains balances of accounts to know whether the debit and credit balances are matched is _______

(a)

Journal

(b)

Day book

(c)

Trial balance

(d)

Balance sheet

38.

After the preparation of ledger, the next step is the preparation of

(a)

Trading account

(b)

Trial balance

(c)

Journal

(d)

Profit and loss account

39.

In big concerns, the ledger is ________________

(a)

bound note book

(b)

sheet

(c)

loose-leaf ledger

(d)

journals

40.

Personal and real accounts are _____________

(a)

closed

(b)

balanced

(c)

closed and transferred

(d)

opened

41.

The process of finding the net amount from the totals of debit and credit columns in a ledger is known as

(a)

Casting

(b)

Posting

(c)

Journalising

(d)

Balancing

42.

Which of the following is / are objectives of issuing Accounting Standard?

(a)

Improve the reliability of financial statements

(b)

Improve the comparability of financial statements

(c)

Provides a set of Accounting policies

(d)

All of these

43.

___________ involves recording business transactions of financial nature in the books of accounts.

(a)

Balance Sheet

(b)

Trial balance

(c)

book keeping

(d)

All the above

44.

_______________involves recording of transactions and events which are financial in nature.

(a)

Financial Accounting

(b)

Cost Accounting

(c)

Management Accounting

(d)

Human Resource Accounting

45.

____________also require accounting records to submit in courts to prove their claims.

(a)

Salesmen

(b)

Owners

(c)

Producers

(d)

Businessmen

46.

_____________must be properly maintained to increase their productivity.

(a)

Liabilities

(b)

Assets

(c)

Debtors

(d)

None of these

47.

Which of the following does not follow dual aspect concept?

(a)

Increase in one asset and decrease in other asset

(b)

Increase in both asset liability

(c)

Decrease in one asset and decrease in other asset

(d)

Increase in one asset and increase in capital

48.

In India, Accounting Standards are issued by

(a)

Reserve Bank of India

(b)

The Cost and Management Accountants of India

(c)

Supreme Court of India

(d)

The Institute of Chartered Accountants of India

49.

The concept which assumes that a business will last indefinitely is

(a)

Business Entity

(b)

Going concern

(c)

Periodicity

(d)

Conservation

50.

Financial position of a business is ascertained on the basis of ______.

(a)

Journal

(b)

Trial balance

(c)

Balance Sheet

(d)

Ledger

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Answers Key:

Multiple Choice Question

50 x 1 = 50

(b)
Real account

(a)
Identifying the financial transactions

(d)
both (a) & (b)

(d)
Debited to profit and loss account

(d)
System programmers

(b)
Computerised Accounting System

(d)
a, b and c

10.

11.

(a)
Purchases returns book was undercast by Rs.100

12.

(b)
Financial position

13.

(b)
Current asset

14.

(d)
Capital expenditure

15.

16.

17.

18.

(b)
Bank Statement

19.

(b)
Rs. 3,000 favourable

20.

(a)
Rs. 1,950 credit balance

21.

22.

(a)
Trial Balance

23.

(a)
Subsidiary Books/Journal

24.

25.

(d)
Representative Personal A/c

26.

(d)
always either in assets or liabilities or both

27.

(d)
Invoice

28.

(a)
Petty cash book

29.

30.

(b)
Credit

31.

(a)
drawee

32.

(d)
Assets of a business always equal to the total of capital and liabilities

33.

(a)
assets

34.

(d)
Bank column credit side

35.

36.

(a)
debit side of the purchases account

37.

38.

(b)
Trial balance

39.

40.

(b)
balanced

41.

(d)
Balancing

42.

(d)
All of these

43.

44.

(a)
Financial Accounting

45.

(d)
Businessmen

46.

(b)
Assets

47.

48.

(d)
The Institute of Chartered Accountants of India

49.

(b)
Going concern

50.

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Answers Key:

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