MCQ Questions for Class 11 Accountancy Chapter 11 Accounts from Incomplete Records with Answers

Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 11 Accounts from Incomplete Records with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accounts from Incomplete Records Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.


Q1. A system of accounting which is not based on double entry system is called-

(a) Cash system
(b) Mahajani system of accounting
(c) Incomplete accounting system
(d) None of these

(c) Incomplete accounting system


Q2. Accounts which are maintained under single entry system-

(a) Personal accounts
(b) Impersonal accounts
(c) (a) & (b) both
(d) None of these

(a) Personal accounts


Q3. Statement of affairs is prepared to-

(a) Know about assets
(b) Know about liabilities
(c) Calculate capital
(d) Know financial position

(c) Calculate capital


Q4. Incomplete records are generally maintained by

(a) A company
(b) Government
(c) Small sized sole trader business
(d) Multinational enterprises

(c) Small sized sole trader business


Q5. Generally incomplete records are maintained by-

(a) Trader
(b) Society
(c) Company
(d) Government

(a) Trader


Q6. Incomplete record mechanism of book keeping is

(a) Scientific
(b) Unscientific
(c) Unsystematic
(d) Both (b) and (c)

(b) Unscientific


Q7. Opening capital is ascertained by preparing

(a) Total debtor’s account
(b) Total creditor’s account
(c) Cash account
(d) Opening statement of affairs

(d) Opening statement of affairs


Q8. Credit purchase, during the year is ascertained by preparing :

(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs

(a) Total creditor’s account


Q9. Statement of affairs is a

(a) Statement of income and expenditure
(b) Statement of assets and liabilities
(c) Summary of cash transactions
(d) Summary of credit transactions

(c) Summary of cash transactions


Q10. Profit can be ascertained from the incomplete records under single entry by using.

(a) Only Statement of Affairs Method
(b) Only Conversion Method
(c) Either (a) or (b) above
(d) None of (a) or (b)

(c) Either (a) or (b) above


Q11. If books are kept under single entry system , credit sales are ascertained by preparing

(a) Total Creditors Account
(b) Total Debtors Account
(c) Credit Sales Account
(d) Trading Account

(b) Total Debtors Account


Q12. If book are kept under single entry system, credit purchases are ascertained by preparing

(a) Total Creditors Account
(b) Total Debtors Account
(c) Credit Purchases Account
(d) Bills Payable Account

(a) Total Creditors Account


Q13. If books are kept under single entry system, opening stock is ascertained by preparing

(a) Opening Stock Account
(b) Stock Register
(c) Memorandum Trading Account
(d) Opening Statement of Affairs

(c) Memorandum Trading Account


Q14. Single entry system of book keeping is

(a) Simple
(b) Unauthorized by tax authorities
(c) Unscientific
(d) all of these

(d) all of these


Q15. Credit purchase, during the year is ascertained by preparing :

(a) Total creditor’s account
(b) Total debtor’s account
(c) Cash account
(d) Opening statement of affairs

(a) Total creditor’s account


Q16. When only closing and opening capital is given and closing capital is greater than opening capital it denotes

(a) Loss
(b) None
(c) Profit
(d) Profit if there is no introduction of fresh capital

(d) Profit if there is no introduction of fresh capital


Q17. Following are the Limitations of Incomplete Records except

(a) Under this system no real and nominal accounts are maintained
(b) his method is highly flexible because it can be adjusted according to the need of the organization
(c) it is not possible to prepare a balance sheet showing the true financial position of the business
(d) incomplete method of maintaining the ac counting records

(b) his method is highly flexible because it can be adjusted according to the need of the organization


Q18. Normally single entry system is suitable for:

(a) Small scale business
(b) Large scale business
(c) Both of them
(d) None of them

(a) Small scale business


Q19. What should be added in closing capital for calculating opening capital?

(a) Loss and drawing
(b) Profit and drawing
(c) Profit only
(d) Loss only

(a) Loss and drawing


Q20. The opening capital is ascertained by preparing

(a) Cash book
(b) Debtors
(c) Opening statement of affairs
(d) Creditors

(c) Opening statement of affairs


MCQ Questions for Class 11 Accountancy: Financial Accounting


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