Please refer to Introduction to Accounting MCQ Questions Class 11 Accountancy below. These MCQ questions for Class 11 Accountancy with answers have been designed as per the latest NCERT, CBSE books, and syllabus issued for the current academic year. These objective questions for Introduction to Accounting will help you to prepare for the exams and get more marks.
Introduction to Accounting MCQ Questions Class 11 Accountancy
Please see solved MCQ Questions for Introduction to Accounting in Class 11 Accountancy. All questions and answers have been prepared by expert faculty of standard 11 based on the latest examination guidelines.
MCQ Questions Class 11 Accountancy Introduction to Accounting
Question. Which of the following is not a business transaction?
(a) Bought furniture of Rs. 10,000 for business
(b) Paid for salaries of employees Rs. 5,000
(c) Paid sons fees from her personal bank account Rs. 20,000
(d) Paid sons fees from the business Rs. 2,000
Answer
C
Question. Which is the last step of accounting as a process of information?
(a) Recording of data in the books of accounts
(b) Preparation of summaries in the form of financial statements
(c) Communication of information
(d) Analysis and interpretation of information
Answer
C
Question. Use of common unit of measurement and common format of reporting promotes
(a) Comparability
(b) Understandability
(c) Relevance
(d) Reliability
Answer
A
Complete the following sentences with appropriate words
Question. Internal users are the _________ of the business entity.
Answer : management/employees
Question. The Internet has assisted in decreasing the ________ in issuing financial reports to users.
Answer : time-gap
Question. Information is said to be relevant if it is _______
Answer : free from bias
Question. Accounting measures the business transactions in terms of _______ units.
Answer : monetary
