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Free Online MCQs for Class – 11 Accountancy Chapter 22 – Financial Statements with adjustments

Free Online MCQs for CBSE Class – 11 Accountancy Chapter 22 – Financial Statements with adjustments with Answers. Free Online MCQs Questions for Class 11 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Accountancy Chapter 22 – Financial Statements with adjustments Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Free Online MCQs for Class -11 Accountancy

Chapter-22 Financial Statements with adjustments with Answers

  1. Closing stock is shown in
    1. Trial Balance
    2. Balance sheet
    3. P&L account
    4. Both A & B
    5. All of the above
  2. Outstanding expenses are
    1. Expenses due but not paid
    2. Expenses not due but paid
    3. Expense forgot to show in P&L
    4. None of the above
  3. Outstanding expenses are shown in
    1. Asset side of Balance sheet
    2. Liability side of Balance sheet
    3. By adding in expenses in P&L
    4. Both b & c
  4. Ram paid rent 50000 in the year. But actual rent was 4000 pm. Here
    1. 2000 is outstanding expenses
    2. Accrued expense
    3. Prepaid expense
    4. None of the above
  5. Interest on capital is shown in
    1. Debit side of P &L
    2. Credit side of P &L
    3. Deducting from capital in balance sheet
    4. Both a & C
  6. Bad debts are transfer to…….at the year end
    1. P&L account
    2. Provision for bad & doubtful debts account
    3. First Provision for bad & doubtful debts account than remaining in P&L
    4. First P&L than remaining to Provision for bad & doubtful debts
  7. Provision for bad & doubtful debts is created as % of
    1. Debtors amount
    2. Profit amount
    3. Sale amount
    4. None of the above
  8. Depreciation is a
    1. Cash expense
    2. Non cash expense
    3. Fictitious expense
    4. None of the above
  9. In case of Loss by fire, which account is credited
    1. Purchase account
    2. P&L account
    3. Loss by fire account
    4. None of the above
  10. Goods purchased on credit but omitted to be recorded, what entry will be passed at the time of finalising financial statements
    1. Dr. Purchase  Cr. Suspense account
    2. Dr. Purchase  Cr. cash account
    3. Dr. Purchase account Cr. Creditor account
    4. None of the above

MCQs Questions of Class – 11 Accountancy Chapter 22 – Financial Statements with adjustments

Answer Key

  1. (d)  2. (a)  3. (d)  4. (c)  5. (a)  6. (c)  7. (a)  8.  (b)  9. (a)  10 (c)

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