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

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.



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#1. In general, the length of an accounting period is of

#2. The accounting standard board was established in India in the year

#3. The fundamental accounting principles are denoted by the symbol

#4. The sum of Liabilities and Capital is

#5. The following is the definition of going concern credibility:

#6. The value of closing stock is determined by the lower cost or market price. Name the concept.

#7. A liability arises due to

#8. 8. Which of the following is not a fundamental accounting assumption?

#9. Personal expenses of the proprietor are documented in the drawings account according to which accounting principle?

#10. Which of the statements below is correct?


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