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

2. The process of recording, classifying and summarizing all business transactions in order to know the financial result is called _____.
(a) Book – keeping
(b) Accounting
(c) Journalizing
(d) None of these

3. Cash, goods or assets invested by the proprietor in the business for earning profit is called _____.
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these

4. The person, firm or institution who does not pay the price in cash for the goods purchased or the services received is called _____.
(a) Creditor
(b) Proprietor
(c) Debtor
(d)None of these

5. Book keeping is _______.
(a) An art
(b) A science
(c) An art and science both
(d) None of these

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By Team Learning Mantras