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Free MCQ’s Quiz on Class 11 Accountancy Chapter 10 – Financial Statements – Set 1

Free MCQ’s Quiz for Class 11 Accountancy Chapter 10 – Financial Statements with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 11th Accountancy – ‘ Financial Statements’ Multiple Choice Questions with Answers to know their preparation level on the Success Roar Classes website.

Here, we have provided Free MCQ’s Quiz on Class 11 Accountancy Chapter 10 – Financial Statements. Financial Statements involve the preparation of financial statements, and the kinds of information needs of the different stakeholders; the difference and the preparation of financial statements between capital and revenue items and their importance and nature.

To make you perfect in this topic – Financial Statements, we are here with a set of MCQs Quiz that will help you in brushing up the understanding of the concepts.

Free MCQ’s on Financial Statements

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Free MCQ’s on Financial Statements

Results

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#1. If the rent received in advance 2,000. The adjustment entry will be:

#2. This income that is earned but still not received is called.

#3. Unearned income is recorded on the liability side of the balance sheet.

#4. Interest in the capital is an income for the business.

#5. _____ are expenses that have not been paid at the end of an accounting period.

#6. The company’s amount not being able to recover from its debtors is referred to as ____.

#7. A prepaid expense is shown on the ____ side of the balance sheet.

#8. Goods donated to the charity are credited to the ____ account.

#9. Name one which is not an item of income of Non-trading concern.

#10. Which of the following is recorded in the income & expenditure account?

finish

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