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Free MCQ’s Quiz on Class 11 Accountancy Chapter 9 – Financial Statements – Set 1

Free MCQ’s Quiz for Class 11 Accountancy Chapter 9 – 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 9 – 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



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#1. Drawing is deducted from

#2. Which of the following accounts is used to determine net profit?

#3. The Expenses shown in the profit & loss Account are called as -

#4. When the cost of goods sold is deducted from net sales, we get ___.

#5. Goodwill is a ____ asset.

#6. Among the following, which one is example of preliminary expenses?

#7. At the end of the year, ____ is prepared.

#8. Outstanding income is an

#9. Return inward in the trial balance is deducted from

#10. Discounts received are


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