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Published on: 29/06/2019
New syllabus important multiple choice questions for state board english medium accountancy chapter one for twelfth standard
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.
A business is said is to be used _____________ system. It is not following the complete the principles of book keeping of ___________ system.
Double Entry - Single Entry
Single Entry - Double Entry
Double Entry - Double Entry
Single Entry - Single Entry
2.
Capital at the end - net profit + drawings =
Capital in Beginning
Gross profit
Interest on capital
Interest on drawings
3.
Following are the limitations of incomplete records except _________________
Lack of proper maintenance of records
Difficulty in preparing trial balance
Difficulty in ascertaining true profitability of the business
Suitability
4.
Companies cannot keep books on single entry system because of ______________
Tax Properties
Legal Provisions
Both (a) & (b)
None of these
5.
If adjusted closing capital is more than the opening capital, it denotes ____________
Profit
Loss
Opening Capital
Expenses
6.
Creditors on 1.1.2014 is Rs. 1,21,000 and on 31.12.2014 Rs. 1,30,000. Cash paid to creditors during the year is Rs. 2,09,000. Then the credit purchase during the year is ____________
Rs. 2,00,000
Rs. 2,09,000
Rs. 2,18,000
Rs. 2,08,000
7.
Debtors on 31.12.2014 is Rs. 2,00,000. Cash received from debtors during the year is Rs. 3,00,000. Then the credit sales during the year is __________
Rs. 1,00,000
Rs. 2,00,000
Rs. 3,00,000
Rs. 5,00,000
8.
A firm's total sales is Rs. 80,000 and its credit sales id Rs. 60,000 then its cash sales is _________
Rs. 20,000
Rs. 1,40,000
Rs. 70,000
Rs. 25,000
9.
Which one is correct
Adjusting Closing Capital = Closing capital + Drawings - Additional Capital
Adjusting Closing Capital = Closing capital - Drawings - Additional Capital
Adjusting Closing Capital = Additional Capital + Drawings - Closing Capital
None of these
10.
Which of the following equation(s) is (are) true
Assets = Liabilities + Capital
Assets - Capital = Liabilities
Both (a) & (b)
None of these
11.
Trial balance shows machinery of Rs. 2,00,000. Depreciation is provided at 10%. The depreciation on machinery will be____________
Rs. 20,000
Rs. 1,80,000
Rs. 2,20,000
Rs. 1,50,000
12.
______________ is not based on dual aspect concept
Single entry system
Double entry system
Balance Sheet
Statement of Affairs
13.
Single entry system keeps one cash book which which mixes up business as well as _______________ transactions
Private
Public
Own
All of these
14.
A firm has liabilities is Rs. 50,000 and Capital is Rs. 25,000. Then its assets is ______________
Rs. 1,00,000
Rs. 25,000
Rs. 50,000
Rs. 75,000
15.
Closing capital can be found by preparing a statement of affairs at the __________ of the year
Opening
End
Centre
All of these
16.
Interest on capital is calculate on which capital
Opening capital
Closing capital
Opening Stock
Closing Stock
17.
Effects of dishonour of B/R is given _____________
Only in the B/R account
Only in the debtors A/c
In debtor A/c and B/R A/c
Only in the B/P account
18.
When B/R dishonoured is shown in the ________________ A/Cs
Debtors A/c is debited and Creditors A/c is credited
Creditors A/c is debited and Debtors A/c is credited
B/R account is debited and Creditors A/c is credited
Debtors A/c is debited and B/R A/c is credited
19.
Generally, depreciation on fixed assets is calculated on which balance?
Opening Balance
Closing Balance
Only on additional
Amount realized on asset sole
20.
In net worth method of single entry, net profit or net loss is ascertained by _____________
Preparing trading and profit and loss account
Comparing opening and closing balance of capital
Adopting any other method
None of these
21.
Balance sheet is prepared under _________
Single entry system
Double entry system
Both (a) & (b)
None of these
22.
Single entry system is not possible for:
Sole Trader
Partnership
Joint Stock Company
None of these
23.
In single entry two-fold aspects of transaction are not recorded, so it is ____________
Complete & Scientific
Incomplete & Unscientific
Complete & Unscientific
Incomplete & Scientific
24.
Trial balance is not obtained in:
Double entry system
Modern entry system
Single entry system
None of these
25.
If building (Closing) Rs. 1,00,000, Land (Opening) Rs. 1,00,000, Creditors (Opening) Rs. 10,000 the opening capital:
Rs. 1,90,000
Rs. 2,10,000
Rs. 90,000
None of these
1.
(b)
Single Entry - Double Entry
2.
(a)
Capital in Beginning
3.
(d)
Suitability
4.
(b)
Legal Provisions
5.
(a)
Profit
6.
(c)
Rs. 2,18,000
7.
(d)
Rs. 5,00,000
8.
(a)
Rs. 20,000
9.
(a)
Adjusting Closing Capital = Closing capital + Drawings - Additional Capital
10.
(c)
Both (a) & (b)
11.
(a)
Rs. 20,000
12.
(a)
Single entry system
13.
(a)
Private
14.
(d)
Rs. 75,000
15.
(b)
End
16.
(a)
Opening capital
17.
(c)
In debtor A/c and B/R A/c
18.
(d)
Debtors A/c is debited and B/R A/c is credited
19.
(b)
Closing Balance
20.
(b)
Comparing opening and closing balance of capital
21.
(b)
Double entry system
22.
(c)
Joint Stock Company
23.
(b)
Incomplete & Unscientific
24.
(c)
Single entry system
25.
(c)
Rs. 90,000
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Tamilnadu Stateboard 12th Standard Subjects
Maths
Chemistry
Physics
Biology
Computer Science
Business Maths and Statistics
Economics
Commerce
Accountancy
History
Computer Applications
Biology
Computer Technology
Computer Applications
Computer Science
Business Maths and Statistics
Commerce
Economics
Maths
Chemistry
Physics
Computer Technology
History
Accountancy
Tamil
English
French
Tamilnadu Stateboard Standards
