BrainCheck

Class 11 - Accountancy - Paper 026

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. A transaction debits cash by Rs 4000. By how much must the other side be credited?

○ A. 3999

○ B. 4002

○ C. 4001

○ D. 4000

Trial Balance

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

○ A. litres only

○ B. degrees only

○ C. metres only

○ D. money

Introduction to Accounting

3. Assets are Rs 90000 and liabilities Rs 60000. Find capital in rupees.

○ A. 30000

○ B. 30001

○ C. 29999

○ D. 30002

Accounting Equation

4. 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

BrainCheck

Class 11 - Accountancy - Paper 026

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. 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

6. 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

7. A machine costs Rs 30000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 6002

○ B. 6001

○ C. 6000

○ D. 5999

Depreciation

8. Assets are Rs 150000 and liabilities Rs 120000. Find capital in rupees.

○ A. 30001

○ B. 30000

○ C. 29999

○ D. 30002

Accounting Equation

BrainCheck

Class 11 - Accountancy - Paper 026

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. Which equation fits the displayed data?

○ A. Assets = Liabilities - Capital

○ B. Liabilities = Assets + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities + Capital

Accounting Equation

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

○ A. expense

○ B. capital

○ C. loss

○ D. drawings

Recording of Transactions

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 10000. By how much must the other side be credited?

○ A. 10000

○ B. 10001

○ C. 9999

○ D. 10002

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 026

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. 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

14. A trial balance checks mainly ___ .

○ A. market value of assets

○ B. arithmetical agreement of debit and credit totals

○ C. profitability only

○ D. absence of all accounting errors

Trial Balance

15. Sales are Rs 11000 and cost of goods sold is Rs 6000. Find gross profit.

○ A. 4999

○ B. 5002

○ C. 5001

○ D. 5000

Financial Statements

16. A transaction debits cash by Rs 5000. By how much must the other side be credited?

○ A. 4999

○ B. 5002

○ C. 5000

○ D. 5001

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 026

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. A machine costs Rs 110000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 22001

○ B. 22002

○ C. 22000

○ D. 21999

Depreciation

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

○ A. 50001

○ B. 49999

○ C. 50000

○ D. 50002

Accounting Equation

19. 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

20. A machine costs Rs 50000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 10002

○ B. 10000

○ C. 9999

○ D. 10001

Depreciation