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Free Online MCQs Questions of Class – 11 Accountancy Chapter 3 – Accounting Principles

Free Online MCQs Questions of CBSE Class 11 Accountancy Chapter 3 – Accounting Principles 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 Accounting Principles Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

For understanding accountancy, the student must know what is the basic principles of accounting. For helping you to understand this topic, we are providing some MCQs for your practice.

Free Online MCQs Questions of Class -11 Accountancy

Chapter 3 – Accounting Principles with Answers

  1. According to Principle of Conservatism

a.       Provision is made for bad and doubtful debts

b.      Depreciation is charged on assets

c.       Recording is made of outstanding expenses

d.      All of the above

2. According to the cost concept

a.       Assets are recorded at lower of cost and market value

b.      Assets are recorded by estimating the market value at the time of purchase

c.       Assets are not recorded

d.      Assets are recorded at the value paid for acquiring it.

3. The owner of the firm records his medical expenses in the firm’s income statement. Indicate the principle that is violated

a.       Cost principle

b.      Prudence

c.       Full disclosure

d.      Entity concept

4. Due to which of the following, contingent liabilities are shown in the Balance Sheet:

a.       Dual aspect

b.      Full disclosure

c.       Materiality

d.      Going concern

5. According to which principle the same accounting methods should be used each year:

a.       Prudence

b.      Full disclosure

c.       Materiality

d.      Consistency

6. Accrual concept is based on

a.       Matching principle

b.      Dual aspect

c.       Cost

d.      Going concern

7. Income is measured on the basis of

a.       Matching concept

b.      Consistency

c.       Cost

d.      None of the above

8. Omission of paise and showing the round figures in financial statements is based on

a.       Conservatism

b.      Consistency

c.       Materiality

d.      Money measurement

9. Which of these is not a fundamental accounting assumption?

a.       Going concern

b.      Consistency

c.       Accrual

d.      Materiality

10. Due to which principle qualitative transactions are not recorded in the books

a.       Business entity

b.      Money measurement

c.       Historical cost

d.      Dual aspect

MCQs Questions of CBSE Class 11 Accountancy Chapter 3 – Accounting Principles

Answer Key

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

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Ritu

All mcq is good it help me in exam

Ambuj

All MSQ IS GREAT BUT SOME MSQ ARE VERY BAD 😣

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