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

Recording of Transactions Class 11 MCQ

1. The Mathematical Expression defining the comparative relationship between Assets and Liabilities of any person, institution or Business concern is called-
(a) Accounting
(b) Accounting Equation
(c) Book – keeping
(d) None of these

2. Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
(a) Creditors
(b) Debentures
(c) Profit
(d) Capital

3. The basis of recording transactions is-
(a) Vouchers
(b) Profit
(c) Order form
(d) Quotation list

4. As per American Belief, Accounts are of how many types-
(a) Two
(b) Three
(c) Five
(d) Four

5. Which of the following is entered in cash book?
(a) Only cash transactions
(b) Only credit transactions
(c) Both cash and credit transactions
(d) None of these

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