Multiple Choice Questions
Frequently Asked multiple choice
questions in AHSEC CLASS 11 Board Exam
a)
Accounting is the source of income / evidence
/ financial information. [H.S.’ 08]
b)
Accounting records qualitative character of
business. False [H.S.’
10]
c)
According to conservatism / Materiality principle “all anticipated losses should
be recorded in the books of accounts but not gains”. [H.S.’ 10]
d)
Book-keeping is a systematic record of all Business transactions. [H.S.’ 08]
e)
The rule for personal account is Debit the receiver and Credit the giver. [H.S.’ 08]
f)
A ledger is a Secondary book.
[H.S.’ 08]
g)
Fixed assets sold for cash is recorded in Cash book. [H.S.’ 08]
h)
Debit balance
in pass book shows bank overdraft.
[H.S.’ 08]
i)
Trial Balance is an account / a statement / information. [H.S.’ 08]
j)
Depreciation is not charges on building / land / machinery. [H.S.’ 08]
k)
A bill of exchange is a conditional document. False
l)
Accommodation bill are not negotiable
instruments. False
m) Bills
receivable account is a Real
account.
n)
There are three
parties to a bill of exchange.
o)
A promissory note is drawn by Purchase.
p)
Bills receivable books are a part of the: (a)
Journal (b) Ledger (c) Profit & Loss account.
q)
A promissory note is made by: (a) Seller (b) Purchaser (c) Endorsee
r)
Balance Sheet includes all accounts / real and personal accounts /
personal accounts only. [H.S.’ 08]
s)
Contingent liabilities in shown / not shown in the balance sheet. [H.S.’ 10]
t)
Outstanding rent in a revenue / liability. [H.S.’ 10]
u)
Accounting records only the transactions of Qualitative nature. [H.S.’ 15]
v)
Assets = Liabilities + Capital. [H.S.’
15]
w) Excess of Opening capital over closing capital represents loss.
[H.S.’ 15]
x)
Closing stock is usually not shown in the
Trial Balance. True [H.S.’
15]
y)
A Bank Reconciliation Statement is prepared by
customer of a bank. True [H.S.’
15]
z)
The full form of CPU is Current Processing
Unit. Central Processing Unit [H.S.’ 15,16]
aa)
The SQL is used to access data in a database. True [H.S.’
15]
bb) Every
business transaction has Two (Dual)
aspects.
cc)
Trial Balance is a Proof only of the Arithmetical accuracy of the
accounts.
dd) Single
Entry System is an Incomplete and Unscientific
system.
ee) Accounting
is both a science and an art. True
ff)
Accountants regard a business separate from
its proprietors. True
gg)
Credit note is prepared by Creditor (Seller).
hh) Debit note
is prepared by Debtor(Purchaser). True
ii)
Computerized Accounting System is a system of
maintaining records of financial /
non-financial transactions in electronic form.
jj)
“Recognize
all losses, anticipate no GAIN.”
kk)
Accounting
is the LANGUAGE of business.
ll)
Journal
is a book of PRIME OR ORIGINAL
entry.
mm)
Under
incomplete record system, profit is indicated if the opening capital is LESS than the closing capital.
nn) A Bank Reconciliation Statement is
prepared by bank. FALSE,
CUSTOMER
oo) Trial Balance is a proof only of
the arithmetical accuracy of the accounts. TRUE
pp) Accounting software is an integral
part of the Computerized Accounting
System/Manual Accounting System.
qq) The full form of CPU is Central Processing Unit/Computer
Programming Unit.
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