Theory Base of Accounting Class 11 MCQ | Accountancy Quiz for Class 11 and Other Competitive Exams

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 11 MCQ Questions with Answers to help students understand the concept very well.

Theory Base of Accounting Class 11 MCQ


1. The sum of Liabilities and Capital is _______.
(a) Expense
(b) Income
(c) Drawings
(d) Assets

View Answer

(d) Assets


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

View Answer

(b) 1977


3. The basic accounting postulates are denoted by _______.
(a) Concepts
(b) Book – keeping
(c) Accounting standards
(d) None of these

View Answer

(a) Concepts


4. Generally the duration of an Accounting period is of _______.
(a) 6 months
(b) 3 months
(c) 12 months
(d) 1 month

View Answer

(c) 12 months


5. Meaning of credibility of going concern is _______.
(a) Closing of business
(b) Opening of business
(c) Continuing of business
(d) None of these

View Answer

(c) Continuing of business


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