Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Theory Base of Accounting Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.
Class 11 Accountancy Chapter 2 MCQ With Answers
Accountancy Class 11 Chapter 2 MCQs On Theory Base of Accounting
Question 1.
Generally the duration of an Accounting period is of-
(a) 6 months
(b) 3 months
(c) 12 months
(d) 1 month.
Answer
Answer: (c) 12 months
Question 2.
The sum of Liabilities and Capital is-
(a) Expense
(b) Income
(c) Drawings
(d) Assets.
Answer
Answer: (d) Assets.
Question 3.
In India, the accounting standard board was set up in the year-
(a) 1972
(b) 1977
(c) 1956
(d) 1932.
Answer
Answer: (b) 1977
Question 4.
The basic accounting postulates are denoted by –
(a) Concepts
(b) Book – keeping
(c) Accounting standards
(d) None of these.
Answer
Answer: (a) Concepts
Question 5.
The amount drawn by businessmen for his personal use is-
(a) Capital
(b) Drawing
(c) Expenditure
(d) Loss.
Answer
Answer: (b) Drawing
Question 6.
Meaning of credibility of going concern is:
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of these.
Answer
Answer: (c) Continuing of business
Fill in the blanks:
1. …………… is a document that verifies the business transaction.
Answer
Answer: Voucher
2. The existence of business is different from its ………………
Answer
Answer: Owner
3. ……………. has been applied on accountants by accounting standard board, law or professional institutions.
Answer
Answer: Code of conduct
4. ……………. aspects are affected in every transaction.
Answer
Answer: Two
Answer in one word/sentence:
1. When was Indian Accounting standard board formed?
Answer
Answer: 21 st April, 1977
2. “The rules and conventions of accounting are commonly referred to as principles.” Who said it?
Answer
Answer: R.N. Anthony
3. On what basis accounting principles are developed?
Answer
Answer: Accounting Conventions & Concepts
4. Which concept denotes that the existence of business is separate from its owner?
Answer
Answer: Business entity concept.
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Class 11 Accountancy MCQ:
- Introduction to Accounting Class 11 MCQ
- Theory Base of Accounting Class 11 MCQ
- Recording of Transactions 1 Class 11 MCQ
- Recording of Transactions 2 Class 11 MCQ
- Bank Reconciliation Statement Class 11 MCQ
- Trial Balance and Rectification of Errors Class 11 MCQ
- Depreciation, Provisions and Reserves Class 11 MCQ
- Bills of Exchange Class 11 MCQ
- Financial Statements 1 Class 11 MCQ
- Financial Statements 2 Class 11 MCQ
- Accounts from Incomplete Records Class 11 MCQ
- Applications of Computers in Accounting Class 11 MCQ
- Computerised Accounting System Class 11 MCQ
- Structuring Database for Accounting Class 11 MCQ
- Accounting System Using Database Management System Class 11 MCQ