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Free MCQ’s Quiz on Class 11 Accountancy Chapter 2 – Theory Base of Accounting – Set 1

Free MCQ’s Quiz for Class 11 Accountancy Chapter 2 – Theory Base of Accounting with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 11th Accountancy – ‘Theory Base of Accounting’ Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Here, we have provided Free MCQ’s Quiz on Class 11 Accountancy Chapter 2 – Theory Base of Accounting. The theory base of accounting consists of principles, concepts, rules, and guidelines developed over a period of time to bring uniformity and consistency to the process of accounting and enhance its utility to different users of accounting information.

To make you perfect in this topic – Theory Base of Accounting, 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 Theory Base of Accounting

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

Results

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#1. The main qualities that make accounting information relevant to decision-making are:

#2. Duration of an accounting period is?

#3. The idea that a firm will not be sold or liquidated in the near future is referred to as:

#4. The sum total of the capital and liabilities is known as ____.

#5. Which document serves as proof that a payment has been made or that a specific transaction has occurred?

#6. The _____ concept indicates that a business will continue to operate indefinitely (for a reasonable amount of time) and will not be liquidated anytime soon.

#7. The cost concept states that every transaction has a dual or two-fold effect on various accounts and should therefore be recorded at two places.

#8. The amount withdrawn for personal use by businessmen is-

#9. Which concept assumes that a company is a separate and distinct entity from its owners. As a result, the firm and its owners must be recognised as two independent organizations for accounting purposes.

#10. The term "____" refers to the concept of revenue recognition at the moment of sale.

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