Free MCQ’s Quiz for Class 11 Accountancy Chapter 3 – Recording of Transactions with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 11th Accountancy – ‘Recording of Transactions’ 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 3 – Recording of Transactions. Recording of Transactions is involved in each step in the accounting process. The first stage is to identify the transactions to be recorded and prepare the source documents, which are then entered in the journal.
To make you perfect in this topic – Recording of Transactions, 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 Recording of Transactions
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. The _____ is a mathematical formula that defines the comparative relationship between a person's, institution's, or business concern's assets and liabilities.
#2. Liabilities are Rs. 50,000 and assets are Rs. 7,800, respectively. The difference Amount shall stand for
#3. Accounts are classified into how many types, according to American belief
#4. The entry that affects the cash and bank columns of triple column cash book is referred to as
#5. The entry is used to carry forward the balances of personal and real accounts from the previous year's balance sheet to the current year's balance sheet is called as
#6. Which of the following is correct?
#7. What Does Debit Mean?
#8. In accounting, a ledger is a book of ____.
#9. A debit balance exists in the following account.
#10. The act of recording a commercial transaction in a journal is referred to as
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