Financial Statements Class 11 MCQ | Accountancy Quiz for Class 11 and Other Competitive Exams

Financial Statements Class 11 MCQ: Check the below NCERT MCQ Questions for Accountancy Financial Statements Class 11 MCQ with Answers Pdf free download. Financial Statements Class 11 MCQ  Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Financial Statements Class 11 Questions with Answers to help students understand the concept very well.

Financial Statements Class 11 MCQ

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1. Which of the following is not an item of income of Non-trading concern?
(a) Entrance fees
(b) Interest
(c) Government aid
(d) Salary

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2. If a person fails to pay his debt, such an amount is considered as ______.
(a) Bad debts
(b) Bad debts recovered
(c) Provision for bad debt
(d) None of the above

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3. Outstanding Expenses are related to _______.
(a) Current year
(b) Next year
(c) Last year
(d) None of the above

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4. Which of the following is recorded in the income and expenditure account?
(a) Revenue items
(b) Capital items
(c) Revenue and capital items
(d) None of the above

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5. Receipt and payment account is a summary of ______.
(a) Income and Expenditure account
(b) Profit and Loss A/c
(c) Cashbook
(d) None of the above

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By Team Learning Mantras