BrainCheck

Class 11 - Accountancy - Paper 007

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. A machine costs Rs 90000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 17999

○ B. 18000

○ C. 18001

○ D. 18002

Depreciation

2. A machine costs Rs 60000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 12001

○ B. 12000

○ C. 11999

○ D. 12002

Depreciation

3. Assets are Rs 140000 and liabilities Rs 110000. Find capital in rupees.

○ A. 30000

○ B. 29999

○ C. 30002

○ D. 30001

Accounting Equation

4. A machine costs Rs 100000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 19999

○ B. 20002

○ C. 20000

○ D. 20001

Depreciation

BrainCheck

Class 11 - Accountancy - Paper 007

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. A transaction debits cash by Rs 6000. By how much must the other side be credited?

○ A. 6001

○ B. 6002

○ C. 6000

○ D. 5999

Trial Balance

6. Cash introduced by an owner increases cash and ___ .

○ A. expense

○ B. capital

○ C. loss

○ D. drawings

Recording of Transactions

7. Sales are Rs 14000 and cost of goods sold is Rs 9000. Find gross profit.

○ A. 4999

○ B. 5000

○ C. 5001

○ D. 5002

Financial Statements

8. A transaction debits cash by Rs 13000. By how much must the other side be credited?

○ A. 13001

○ B. 12999

○ C. 13000

○ D. 13002

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 007

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. Sales are Rs 18000 and cost of goods sold is Rs 13000. Find gross profit.

○ A. 5000

○ B. 4999

○ C. 5001

○ D. 5002

Financial Statements

10. Accounting primarily records transactions that can be measured in ___ .

○ A. litres only

○ B. degrees only

○ C. metres only

○ D. money

Introduction to Accounting

11. Sales are Rs 10000 and cost of goods sold is Rs 5000. Find gross profit.

○ A. 5001

○ B. 4999

○ C. 5002

○ D. 5000

Financial Statements

12. A transaction debits cash by Rs 11000. By how much must the other side be credited?

○ A. 10999

○ B. 11001

○ C. 11000

○ D. 11002

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 007

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. A machine costs Rs 70000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 14001

○ B. 14002

○ C. 14000

○ D. 13999

Depreciation

14. The business entity concept treats the business as ___ .

○ A. free from records

○ B. always a government department

○ C. separate from its owner

○ D. identical to its owner's household

Theory Base of Accounting

15. Find capital from the balance-sheet data shown, in rupees.

○ A. 50001

○ B. 49999

○ C. 50000

○ D. 50002

Accounting Equation

16. Assets are Rs 130000 and liabilities Rs 100000. Find capital in rupees.

○ A. 30000

○ B. 29999

○ C. 30002

○ D. 30001

Accounting Equation

BrainCheck

Class 11 - Accountancy - Paper 007

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. A cheque issued but not yet presented causes the cash-book balance to be ___ compared with the pass-book balance, assuming favourable balances.

○ A. always equal

○ B. always zero

○ C. higher

○ D. lower

Bank Reconciliation Statement

18. Sales are Rs 16000 and cost of goods sold is Rs 11000. Find gross profit.

○ A. 5000

○ B. 5001

○ C. 4999

○ D. 5002

Financial Statements

19. Which equation fits the displayed data?

○ A. Assets = Liabilities - Capital

○ B. Liabilities = Assets + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities + Capital

Accounting Equation

20. A transaction debits cash by Rs 3000. By how much must the other side be credited?

○ A. 2999

○ B. 3000

○ C. 3002

○ D. 3001

Trial Balance