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

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1. If opening capital is Rs.0 and closing capital is Rs.5,000, then profit or loss is _______.
(a) Loss of Rs.5,000
(b) Profit of Rs.2,500
(c) Profit of Rs.5,000
(d) None of these

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2. Incomplete record mechanism of bookkeeping is ______.
(a) Scientific
(b) Unscientific
(c) Unsystematic
(d) Both (b) and (c)

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3. Statement of affairs is prepared to ______.
(a) Know about assets
(b) Know about liabilities
(c) Calculate capital
(d) Know financial position

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4. Accounts are usually held using a single entry scheme by ______.
(a) Society
(b) Company
(c) Sole trader
(d) Government

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5. Incomplete records are generally maintained by ______.
(a) A company
(b) Government
(c) Small-sized sole trader business
(d) Multinational enterprises

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By Team Learning Mantras