Please refer to Theory Base of 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 Theory Base of Accounting will help you to prepare for the exams and get more marks.
Theory Base of Accounting MCQ Questions Class 11 Accountancy
Please see solved MCQ Questions for Theory Base of 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 Theory Base of Accounting
Choose the Correct Answer.
Question. During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
(a) Conservation
(b) Matching
(c) Accounting period
(d) None of the above
Answer
C
Question. A concept that a business enterprise will not be sold or liquidated in the near future is known as :
(a) Going concern
(b) Economic entity
(c) Monetary unit
(d) None of the above
Answer
A
Fill in the blank with correct word
Question. The accounting concept that refers to the tendency of accountants to resolve uncertainty and doubt in favour of understating assets and revenues and overstating liabilities and expenses is known as __________
Answer : Conservatism
Question. The____________ concept requires that the same accounting method should be used from one accounting period to the next.
Answer : Consistency
