Introduction to Accounting Class 11 MCQ: Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 1 Introduction to Accounting with Answers Pdf free download. Introduction to Accounting Class 11 MCQ  Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Introduction to Accounting Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Introduction to Accounting Class 11 MCQ

1. Which qualitative characteristics of accounting information are reflected when accounting information is clearly presented?
(a) Comparability
(b) Understandability
(c) Relevance
(d) Reliability

2. The process of recording, classifying, and summarising all business transactions in order to know the financial result is called ______.
(a) Bookkeeping
(b) Accounting
(c) Journalising
(d) None of these

3. 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 son’s fees from her personal bank account Rs. 20,000
(d) Paid son’s fees from the business Rs. 2,000

4. The art of recording all business transactions in a systematic manner in a set of books is called _____.
(a) Accounting
(b) Bookkeeping
(c) Ledger
(d) None of these

5. XYZ wants to buy a building for her new business today. Which of the following is the relevant data for her decision?
(a) Similar business acquired the required building in 2000 for Rs. 10,00,000
(b) Building cost details of 2003
(c) Building cost details of 1998
(d) Similar building cost in August 2005 for Rs. 25,00,000.

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By Team Learning Mantras