Chapter introduction-to-accounting: Introduction to Accounting MCQs | accountancy Class 11 CBSE

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Chapter introduction-to-accounting: Introduction to Accounting MCQs | accountancy Class 11 CBSE | ByteNotes.in

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Easy

Question 1

Objective

Which of the following is the most recent and comprehensive definition of accounting?

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Easy

Question 2

Objective

The American Accounting Association (AAA) defined accounting in the year:

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Medium

Question 3

Objective

Which of the following is an example of an internal event in accounting?

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Easy

Question 4

Objective

Accounting records only those events which can be expressed in:

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Easy

Question 5

Objective

Which of the following is NOT an external user of accounting information?

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Medium

Question 6

Objective

Which qualitative characteristic of accounting information ensures that users can compare financial data across different time periods and entities?

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Medium

Question 7

Objective

Reliability of accounting information means:

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Easy

Question 8

Objective

Which of the following is the primary objective of accounting?

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Question 9

Objective

Revenue is excess over expenses. If total revenue is ₹7,00,000 and total expenses are ₹5,80,000, what is the profit?

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Easy

Question 10

Objective

The statement that shows the financial position of the business at the end of an accounting period is called:

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Easy

Question 11

Objective

Luca Pacioli's book on double entry book-keeping was published in:

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Medium

Question 12

Objective

Which of the following best describes the role of accounting as an information system?

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Medium

Question 13

Objective

The last step in the accounting process as a flow of information is:

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Medium

Question 14

Objective

Cost accounting primarily helps in:

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Hard

Question 15

Objective

Management accounting differs from financial accounting mainly because it:

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Question 16

Objective

Capital in accounting represents:

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Question 17

Objective

Which of the following is a current asset?

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Easy

Question 18

Objective

Drawings by the owner from the business:

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Medium

Question 19

Objective

A profit arising from an event incidental to the main business activity (such as sale of a fixed asset) is known as:

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Easy

Question 20

Objective

Which of the following is NOT an example of revenue?

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Chapter introduction-to-accounting: Introduction to Accounting | MCQs

Which of the following is the most recent and comprehensive definition of accounting?

The American Accounting Association (AAA) defined accounting in the year:

Which of the following is an example of an internal event in accounting?

Accounting records only those events which can be expressed in:

Which of the following is NOT an external user of accounting information?

Which qualitative characteristic of accounting information ensures that users can compare financial data across different time periods and entities?

Reliability of accounting information means:

Which of the following is the primary objective of accounting?

Revenue is excess over expenses. If total revenue is ₹7,00,000 and total expenses are ₹5,80,000, what is the profit?

The statement that shows the financial position of the business at the end of an accounting period is called:

Luca Pacioli's book on double entry book-keeping was published in:

Which of the following best describes the role of accounting as an information system?

The last step in the accounting process as a flow of information is:

Cost accounting primarily helps in:

Management accounting differs from financial accounting mainly because it:

Capital in accounting represents:

Which of the following is a current asset?

Drawings by the owner from the business:

A profit arising from an event incidental to the main business activity (such as sale of a fixed asset) is known as:

Which of the following is NOT an example of revenue?

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