Success Roar Classes

Free Online MCQs for Class – 11 Accountancy Chapter-6 Accounting Equation

Free Online MCQs Questions of CBSE Class – 11 Accountancy Chapter-6 Accounting Equation 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-6 Accounting Equation Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Free Online MCQs for Class -11 Accountancy

Chapter-6 Accounting Equation Analysis with Answers

  1. Which of the following statements is incorrect?
    1. Liabilities + Assets = Capital
    2. Assets – Liabilities = Capital
    3. Liabilities + Capital = Assets
    4. Assets – Capital = Liabilities
  2. On January 1st, 2009 an entity’s balance sheet showed total assets of Rs. 750 and liabilities of Rs. 250. Owners’ equity at January 1st was?
    1.  Rs. 750
    2.  Rs. 1,000
    3.  Rs. 500
    4.  Rs. 250
  3. If the assets of a business are Rs. 100,000 and equity is Rs. 20,000, the value of liability will be?
    1. Rs. 100,000
    2.  Rs. 80,000
    3.  Rs. 120,000
    4. 20,000
  4. Find out the missing value liabilities in an accounting equation with the help of given data?
    1. Rs. 201,000 liabilities
    2. Rs. 111, 000 liabilities
    3. Rs. 290, 000 liabilities
    4. Rs. 291, 000 liabilities
  5. The accounting equation should remain in balance because every transaction affects how many accounts?
    1. Only one
    2. Only two
    3. Two or more
    4. All of given options
  6. Which of the following is not a correct form of the Accounting Equation?
    1. Assets = Claims
    2. Assets = Liabilities + Owner Equity
    3. Assets – Liabilities = Owner’s Equity
    4. Assets + Owner’s Equity = Liabilities
  7. Consider the following data?
    1.  Rs. 49,000
    2.  Rs. 55,000
    3.  Rs. 440,000
    4.  Rs. 198,000
  8. Find out value of account receivable from following Cash Rs. 48,000 account payable Rs. 33,000 office equipment Rs. 21,000 owner equity Rs. 77,000?
    1.  Rs. 21,000
    2.  Rs. 41,000
    3.  Rs. 15,000
    4.  Rs. 110,000
  9. During a reporting period, a company’s assets increase by Rs. 80,000,000. Liabilities decrease by Rs. 20,000,000. Equity must therefore?
    1.  Decrease by Rs. 100,000,000
    2.  Increase by Rs. 100,000,000
    3.  Decrease by Rs. 60,00,000
    4.  Increase by Rs. 60,000,000
  10. Which one of the following equations correctly expresses the relationship between assets , liabilities (L), revenues (R), expenses (E) and capital ?
    1.  A = L + R + E + C
    2.  A = C + L + (R-E)
    3.  A = C – (R – E) + L
    4.  A = (L – C) + (R – E)

MCQs Questions of Class – 11 Accountancy Chapter-6 Accounting Equation

Answer Key

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

Share and Enjoy !

2.7 9 votes
Article Rating
Subscribe
Notify of
guest
4 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Jagrit gumber

Sir how assets = claims it was not in chapter (TS grewal)

Editor (Success Roar Classes)

Dear Jagrit,
In the balance sheet, assets equal liabilities and owners’ equity. Total claims include liabilities, which are all the debts that the business owes but has not yet paid out, as well as owners’ equity, the value of the business that was granted by owner investment.

Chanchal

Please explain the 6th questions

Editor (Success Roar Classes)

The question is to select the incorrect form of accounting equation. And the right answer is d.

error: Content is protected !!