BrainCheck

Class 11 - Accountancy - Paper 050

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. Assets are Rs 110000 and liabilities Rs 80000. Find capital in rupees.

○ A. 29999

○ B. 30000

○ C. 30002

○ D. 30001

Accounting Equation

2. Which equation fits the displayed data?

○ A. Assets = Liabilities - Capital

○ B. Liabilities = Assets + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities + Capital

Accounting Equation

3. 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

4. A transaction debits cash by Rs 7000. By how much must the other side be credited?

○ A. 6999

○ B. 7000

○ C. 7002

○ D. 7001

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 050

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 4000. By how much must the other side be credited?

○ A. 3999

○ B. 4002

○ C. 4001

○ D. 4000

Trial Balance

6. Closing inventory is normally valued at ___ .

○ A. lower of cost and net realisable value

○ B. zero always

○ C. highest market price

○ D. selling price in every case

Financial Statements

7. A machine costs Rs 120000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 24001

○ B. 24000

○ C. 24002

○ D. 23999

Depreciation

8. A transaction debits cash by Rs 8000. By how much must the other side be credited?

○ A. 7999

○ B. 8002

○ C. 8000

○ D. 8001

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 050

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. Assets are Rs 50000 and liabilities Rs 20000. Find capital in rupees.

○ A. 30002

○ B. 30000

○ C. 29999

○ D. 30001

Accounting Equation

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. Cash introduced by an owner increases cash and ___ .

○ A. expense

○ B. capital

○ C. loss

○ D. drawings

Recording of Transactions

12. 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

BrainCheck

Class 11 - Accountancy - Paper 050

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. A machine costs Rs 20000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 4002

○ B. 4000

○ C. 3999

○ D. 4001

Depreciation

14. 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

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

○ A. 50001

○ B. 49999

○ C. 50000

○ D. 50002

Accounting Equation

16. A transaction debits cash by Rs 2000. By how much must the other side be credited?

○ A. 2001

○ B. 1999

○ C. 2000

○ D. 2002

Trial Balance

BrainCheck

Class 11 - Accountancy - Paper 050

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. 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

18. 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

19. 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

20. Sales are Rs 9000 and cost of goods sold is Rs 4000. Find gross profit.

○ A. 5000

○ B. 5001

○ C. 5002

○ D. 4999

Financial Statements