Recording Of Transactions CBSE Questions & Answers

Recording Of Transactions

This is Accountancy Class 11 Recording of Transactions CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Which of the following item is not concerned with credit voucher?
  • A
    Payment received from debtors
  • B
    Income received
  • C
    Sale of goods for cash
  • D
    Purchase of goods for cash
    Correct
2
Credit note is a document evidencing that the
  • A
    Both of these
  • B
    Account of the named person is debited for the reason stated therein
  • C
    None of these
  • D
    Credit has been granted to the named person for the reason stated therein
    Correct
3
Accounting equation is based on
  • A
    Both
  • B
    Dual concept
    Correct
  • C
    Single concept
  • D
    None
4
Accounting equation may effect
  • A
    Both side of equation by equal amount
  • B
    None
  • C
    Both
    Correct
  • D
    Only one side by increasing / decreasing it by equal amount
5
Which of the following is not a type of personal account?
  • A
    Investment A/c
    Correct
  • B
    Ram's A/c
  • C
    Atul's Capital A/c
  • D
    SBI Bank A/c
6
Rule of Debit and Credit for Impersonal account is
  • A
    Dr. all expenses and Cr all gains
  • B
    Dr. what comes in and Cr what goes out
    Correct
  • C
    Dr. what goes out and Cr what comes in
  • D
    Dr. the receiver and Cr the giver
7
Document which records a transactions that entails multiple debit/credits and credit/debit is
  • A
    Compound Voucher
    Correct
  • B
    Credit Note
  • C
    Debit note
  • D
    Cheque
8
Capital increases if ______ increases
  • A
    Drawings
  • B
    Expenses
  • C
    Interest on capital
  • D
    Revenue
    Correct
9
Capital of a business decreases if there is an increase in
  • A
    Fresh Capital
  • B
    Drawings
    Correct
  • C
    Gains
  • D
    Income
10
If the total liabilities of a business decrease by Rs.5000 what will be the effect on total asset? (assuming the amount of capital remain same)
  • A
    Decrease by Rs.5000
    Correct
  • B
    Increase by Rs.10000
  • C
    Remain constant
  • D
    Increase by Rs.5000
11
Match the followings options are as follows: a. Assets b. Liabilities c. Revenue d. Expenses e. Capital i. Equity Shares ii.Purchase, Salary paid iii. Sale, commission received iv. Trade Payables, short term loans v. Cash, Debtor, furniture
  • A
    a(iv), b(v), c(iii), d(ii), e(i)
  • B
    a(v), b(iv), c(iii), d(i), e(ii)
  • C
    a(v), b(iv), c(ii), d(iii), e(i)
  • D
    a(v), b(iv), c(iii), d(ii), e(i)
    Correct
12
If the business's owner withdraws cash for his/her personal use what will be the effect on capital?
  • A
    Decrease in capital
    Correct
  • B
    Remain the same
  • C
    No effect on capital
  • D
    Increase in capital
13
Collection of account receivable will
  • A
    Increase assets and decrease liabilities
  • B
    Decrease assets and Increase assets
  • C
    Decrease assets only
  • D
    Increase assets and decrease assets
    Correct
14
An increase in provision for bad debt will
  • A
    Decrease liabilities
  • B
    Increase liabilities
  • C
    Decrease net income
    Correct
  • D
    Increase net income
15
The accounting equation should remain in balance because every transaction affects how many accounts?
  • A
    None of these
  • B
    Two or more
    Correct
  • C
    Only two
  • D
    Only One