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

Theory Base of Accounting Class 11 MCQ

1. The amount drawn by a businessman for his personal use is _______.
(a) Capital
(b) Drawing
(c) Expenditure
(d) Loss

2. In India, the accounting standard board was set up in the year ______.
(a) 1972
(b) 1977
(c) 1956
(d) 1932

3. Meaning of credibility of going concern is _______.
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of the above

4. The basic accounting postulates are denoted by ______.
(a) Concepts
(b) Bookkeeping
(c) Accounting standards
(d) None of the above

5. Generally, the duration of an Accounting period is of _______.
(a) Six months
(b) Three months
(c) Twelve months
(d) One month

Follow on Facebook

By Team Learning Mantras