BrainCheck

Class 11 - Accountancy - Paper 053

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. 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

2. Assets are Rs 60000 and liabilities Rs 30000. Find capital in rupees.

○ A. 29999

○ B. 30002

○ C. 30000

○ D. 30001

Accounting Equation

3. 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

4. The accounting equation is ___ .

○ A. Capital = Assets + Liabilities

○ B. Liabilities = Assets + Capital

○ C. Assets = Liabilities + Capital

○ D. Assets = Liabilities - Capital

Accounting Equation

BrainCheck

Class 11 - Accountancy - Paper 053

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. Sales are Rs 12000 and cost of goods sold is Rs 7000. Find gross profit.

○ A. 5002

○ B. 4999

○ C. 5000

○ D. 5001

Financial Statements

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

○ A. expense

○ B. capital

○ C. loss

○ D. drawings

Recording of Transactions

7. 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

8. 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 053

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

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

○ A. litres only

○ B. degrees only

○ C. metres only

○ D. money

Introduction to Accounting

10. 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

11. 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

12. A machine costs Rs 80000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 15999

○ B. 16000

○ C. 16001

○ D. 16002

Depreciation

BrainCheck

Class 11 - Accountancy - Paper 053

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. 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

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

○ A. 50001

○ B. 49999

○ C. 50000

○ D. 50002

Accounting Equation

15. Depreciation allocates an asset's depreciable amount over its ___ .

○ A. tax refund period only

○ B. useful life

○ C. first day only

○ D. owner's lifetime always

Depreciation

16. 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 053

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. 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

18. Which equation fits the displayed data?

○ A. Assets = Liabilities - Capital

○ B. Liabilities = Assets + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities + Capital

Accounting Equation

19. 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

20. 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