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Published on: 30/08/2022
QB365 provides a detailed and simple solution for every Possible Creative Questions in Class 12 Accountancy Subject - Accounts From Incomplete Records, English Medium. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.
Download Tamil Nadu 12th 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 + Answers key
Take MCQ Accountancy Test
1.
_____ is an unscientific and unsystematic way of recording transactions.
Incomplete records
Complete records
Single entry system
Double entry system
2.
Incomplete records are those records which are not kept under ____ system
Single entry
Double entry
Book keeping
none of these
3.
Match List I with List II and Select the Correct Answer using the Codes given below.
| List I | List II | ||
| (i) | Nature | 1. | Needs and conveniences |
| (ii) | Types of accounts | 2. | No legal obligations |
| (iii) | Lack of uniformity | 3. | Real account and nominal accounts |
| (iv) | Suitability | 4. | Unsystematic way of transactions |
| (i) | (ii) | (iii) | (iv) |
| 1 | 2 | 3 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 2 | 3 | 4 | 1 |
| (i) | (ii) | (iii) | (iv) |
| 4 | 3 | 1 | 2 |
| (i) | (ii) | (iii) | (iv) |
| 3 | 4 | 2 | 1 |
4.
Match List I with List II and Select the Correct Answer using the Codes given below.
| List I | List II | ||
| (i) | Incomplete records | 1. | Net worth method |
| (ii) | Single entry system | 2. | Double entry |
| (iii) | Statement of affairs method | 3. | Small traders |
| (iv) | Nominal account | 4. | Incomplete double system |
| (i) | (ii) | (iii) | (iv) |
| 1 | 2 | 3 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 4 | 3 | 1 | 2 |
| (i) | (ii) | (iii) | (iv) |
| 2 | 3 | 1 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 3 | 4 | 1 | 2 |
5.
Companies cannot keep books on single entry system because of ________
tax properties
legal provisions
both (a) and (b)
None of these
6.
A firm has assets worth Rs. 47,500 and liabilities Rs. 17,700. Then its capital is _____________
Rs. 29,800
Rs. 65,200
Rs. 35,400
Rs. 17,700
7.
A firms total sales is Rs. 80,000 and its credit sales is Rs. 60,000 Then its cash sales is ____________
Rs. 1,40,000
Rs. 70,000
Rs. 20,000
Rs. 80,000
8.
Debtors on 1.4.2018 was Rs. 1,00,000 and on 31.3.2019 was Rs. 80,000 cash received from debtors during the year is Rs. 1,60,000. Then the credit sales during the year is ___________
Rs. 3,40,000
Rs. 2,40,000
Rs. 1,40,000
Rs. 1,60,000
9.
Credit purchase is obtained from _______
Bills receivable account
Bills payable account
Total debtors account
Total creditors account
10.
The capital of a business is ascertained by preparing _________
Trading account
Statement of profit or loss
Balance sheet
Statement of affairs
11.
Credit sale is obtained from _________
Bills receivable account
Bills payable account
Total debtors account
Total creditors account
12.
Under the net worth method, the basis for ascertaining the profit is ________
the difference between the capital on two dates
the difference between the liabilities on two dates
the different between the gross assets on two dates
the difference between the gross profit on two dates
13.
A firm has assets worth Rs. 60,000 and capital Rs. 45,000.Then it's liabilities is _________
Rs. 45,000
Rs. 1,05,000
Rs. 60,000
Rs. 15,000
14.
The total assets of a proprietor are Rs. 5,00,000. His liabilities Rs. 3,50,000. Then his capital in the business is ____________
Rs. 8,50,000
Rs. 1,50,000
Rs. 3,50,000
Rs. 4,25,000
15.
The different between the total of assets and total of liabilities is taken as __________
drawings
capital
profit
loss
1.
(a)
Incomplete records
2.
(b)
Double entry
3.
(c)
| (i) | (ii) | (iii) | (iv) |
| 4 | 3 | 1 | 2 |
4.
(d)
| (i) | (ii) | (iii) | (iv) |
| 3 | 4 | 1 | 2 |
5.
(b)
legal provisions
6.
(a)
Rs. 29,800
7.
(d)
Rs. 80,000
8.
(c)
Rs. 1,40,000
9.
(d)
Total creditors account
10.
(d)
Statement of affairs
11.
(c)
Total debtors account
12.
(a)
the difference between the capital on two dates
13.
(d)
Rs. 15,000
14.
(b)
Rs. 1,50,000
15.
(b)
capital
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Tamilnadu Stateboard 12th Standard Subjects
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History
Computer Applications
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Computer Applications
Computer Science
Business Maths and Statistics
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Accountancy
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