Accounts from Incomplete Records Class 11 MCQ | Accountancy Quiz for Class 11 and Other Competitive Exams
Accounts from Incomplete Records Class 11 MCQ: Check the below NCERT MCQ Questions for Accountancy Accounts from Incomplete Records Class 11 MCQ with Answers Pdf free download. Accounts from Incomplete Records Class 11 MCQ Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accounts from Incomplete Records Class 11 Questions with Answers to help students understand the concept very well.
Accounts from Incomplete Records Class 11 MCQ
1. Credit purchase during the year is ascertained by preparing _______. (a) Total creditor’s account
(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs
2. Accounts that are maintained under a single entry system is ______. (a) Personal accounts
(a) Personal accounts
(b) Impersonal accounts
(c) both (a) and (b)
(d) None of these
3. The single entry system can be adopted by ______. (a) Small firms
(a) Small firms
(b) Joint Stock Companies
(c) Co-operative Societies
(d) None of these
4. Opening capital is ascertained by preparing ______. (d) Opening statement of affairs
(a) Total debtor’s account
(b) Total creditor’s account
(c) Cash account
(d) Opening statement of affairs
5. When closing capital exceeds opening capital, this means ______. (c) No Profit or no Loss
(a) Profit
(b) Profit, if there is no introduction of fresh capital
(c) No Profit or no Loss
(d) Loss
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