Introduction To Accounting CBSE Questions & Answers

Introduction To Accounting

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

Questions & Answers

1
What type of transactions we record in the books of accounts?
  • A
    Political nature
  • B
    Financial nature
    Correct
  • C
    Cash nature
  • D
    Social nature
2
The main purpose of accounting is to give a _____________ picture of accounting.
  • A
    Biased
  • B
    Inadequate
  • C
    True and Fair
    Correct
  • D
    Unfair
3
Where _____ends _______ begins
  • A
    Book keeping and Accounting
    Correct
  • B
    Book keeping and Finance
  • C
    Accounting and Book keeping
  • D
    Finance and Accounting
4
The person from whom goods are purchased on credit is known as ____
  • A
    Investors
  • B
    Creditor
    Correct
  • C
    Owner
  • D
    Debtor
5
Goods/Assets or Cash used for personal use by a businessman is called______
  • A
    Investment
  • B
    Drawings
    Correct
  • C
    Capital
  • D
    Profit
6
Accounting is helpful in replacing the ______
  • A
    Material
  • B
    Method
  • C
    Money
  • D
    Memory
    Correct
7
The objective of financial accounting is to ascertain ______ for a particular period
  • A
    Profit/Loss
    Correct
  • B
    Debt only
  • C
    Assets only
  • D
    Accounts
8
The main purpose of balance sheet is to show_______
  • A
    Old Accounting Records
  • B
    Assets and Capital
  • C
    Financial Position
    Correct
  • D
    Creditors
9
Which of the following does not represents a business transactions?
  • A
    Efficiency of Management
    Correct
  • B
    Goods are sold on credit
  • C
    Capital introduced in the business
  • D
    Assets sold and money introduced in business
10
Which one is not the step of accounting
  • A
    Window Dressing
    Correct
  • B
    Recording in the book of accounts
  • C
    Classifying the recorded entries
  • D
    Interpretation
11
What accounting method is followed for the recording of transactions?
  • A
    Single entry system
  • B
    None of them
  • C
    Double Entry System
    Correct
  • D
    Cash Basis System
12
Book keeping is mainly concern with
  • A
    Interpreting data for internal and external users
  • B
    Recording financial data relating to business operations
    Correct
  • C
    All of these
  • D
    Designing for system recording, classifying and summarizing
13
Which is the last step of accounting as a process of information
  • A
    Analysis of information
  • B
    Recording the transaction
  • C
    Communication of information
    Correct
  • D
    Preparation of financial transaction
14
Posting of entries in the ledger is done from _____
  • A
    Journal
    Correct
  • B
    None of these
  • C
    Balance sheet
  • D
    Vouchers
15
Which is the evidence of business transaction
  • A
    Journal
  • B
    Balance sheet
  • C
    Ledger
  • D
    Voucher
    Correct