We have completed the NCERT/CBSE chapter-wise Multiple Choice Questions for Class 11 Accountancy book Chapter 4 Recording of Transactions 2 with Answers by expert subject teacher for latest syllabus and examination. You can Prepare effectively for the exam, Taking the help of the Class 11 Accountancy Objective Questions PDF free of cost from here. Students can take a free test of the Multiple Choice Questions of Recording of Transactions 2. Each Questions has four options followed by the right answer. Download the Accountancy Quiz Questions with Answers for Class 11 free Pdf and prepare to exam and help students understand the concept very well.
MCQ Questions for Class 11 Accountancy with Answers: Financial Accounting
Q1. Goods purchased on cash are recorded in the
(i) Purchases (journal) book
(ii) Sales (journal) book
(iii) Cash book
(iv) Purchases return (journal) book
(iii) Cash book
Q2. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?
(i) Drawings A/c
(ii) Capital A/c
(iii) Insurance A/c
(iv) Cash A/c
(i) Drawings A/c
Q3. Balancing of account means :
(i)Total of debit side
(ii) Total of credit side
(iii) Difference in total of debit & credit
(iv) None of these
(iii) Difference in total of debit & credit
Q4. Income tax is treated as-
(i) Business Expense
(ii) Direct Expense
(iii) Personal Expense
(iv) Indirect Expense.
(iv) Indirect Expense.
Q5. Cash book does not record transaction of:
(i) Cash nature
(ii) Credit nature
(iii) Cash and credit nature
(iv) None of these
(ii) Credit nature
Q6. Which account will be debited in case wages are paid for installation of machinery?
(i) Machinery A/c
(ii) Installation A/c
(iii) Wages A/c
(iv) Cash A/c
(i) Machinery A/c
Q7. If total assets of a business are ₹ 1,80,000 and net worth is ₹ 50,000, outside liability will be
(i) ₹ 1,30,000
(ii) ₹ 2,30,000
(iii) ₹ 1,80,000
(iv) ₹ 90,000
(i) ₹ 1,30,000
Q8. A cheque on which two parallel lines are drawn in the left top corner is called –
(i) Bearer cheque
(ii) Traveller’s cheque
(iii) Account payee cheque
(iv) None of these.
(iii) Account payee cheque
Q9. The periodic total of sales return journal is posted to :
(i) Sales account
(ii) Goods account
(iii) Purchases return account
(iv) Sales return account
(iv) Sales return account
Q10. Which is not contra entry in the cash book
(i) Cash deposited into bank
(ii) Cash withdrawn from bank
(iii) Cash withdrawn from bank for personal use
(iv) None of these
(iii) Cash withdrawn from bank for personal use
Q11. Rent paid is a
(i) Personal Account
(ii) Real Account
(iii) Nominal Account
(iv) Liability Account
(iii) Nominal Account
Q12. Credit purchase of furniture shall be recorded in-
(i) Purchase book
(ii) Journal book
(iii) Cash – book
(iv) None of these.
(ii) Journal book
Q13. Credit balance of bank account in cash book shows :
(i) Overdraft
(ii) Cash deposited in our bank
(iii) Cash withdrawn from bank
(iv) None of these
(i) Overdraft
Q14. The Sales Return Book always has______balance
(i) Debit
(ii) Either debit or credit
(iii) Credit
(iv) None of the options
(i) Debit
Q15. A sale of goods to Ram for cash is debited to
(i) Ram
(ii) Cash
(iii) Sales
(iv) Purchases
(ii) Cash
Q16. Return of goods by a customer is recorded in-
(i) Purchase book
(ii) Sales book
(iii) Sales return book
(iv) Purchase return book.
(iii) Sales return book
Q17. Balancing of account means
(i) Total of debit side
(ii) Total of credit side
(iii) Difference in total of debit & credit
(iv) None of these
(iii) Difference in total of debit & credit
Q18. The total of the Sales Book is posted to
(i) debit of the Sales Account.
(ii) credit of the Sales Account.
(iii) debit of the Customers’ Account.
(iv) credit of Customers’ Accounts.
(ii) credit of the Sales Account.
Q19. The balance in Petty Cash Book is
(i) An expense
(ii) A profit
(iii) A liability
(iv) An asset
(iv) An asset
Q20. The first book of original entry is-
(i) Journal
(ii) Ledger
(iii) Trial Balance
(iv)None of these.
(ii) Ledger
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MCQ Questions for Class 11 Accountancy: Financial Accounting
- Lesson 1. Introduction to Accounting Class 11 MCQ
- Lesson 2. Theory Base of Accounting Class 11 MCQ
- Lesson 3. Recording of Transactions 1 Class 11 MCQ
- Lesson 4. Recording of Transactions 2 Class 11 MCQ
- Lesson 5. Bank Reconciliation Statement Class 11 MCQ
- Lesson 6. Trial Balance and Rectification of Errors Class 11 MCQ
- Lesson 7. Depreciation, Provisions and Reserves Class 11 MCQ
- Lesson 8. Bills of Exchange Class 11 MCQ
- Lesson 9. Financial Statements 1 Class 11 MCQ
- Lesson 10. Financial Statements 2 Class 11 MCQ
- Lesson 11. Accounts from Incomplete Records Class 11 MCQ
- Lesson 12. Applications of Computers in Accounting Class 11 MCQ
- Lesson 13. Computerised Accounting System Class 11 MCQ