BrainCheck

Class 11 - Accountancy - Paper 062

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. Sales are Rs 13000 and cost of goods sold is Rs 8000. Find gross profit.

○ A. 5001

○ B. 5000

○ C. 5002

○ D. 4999

Financial Statements

3. 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

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

○ A. 50001

○ B. 49999

○ C. 50000

○ D. 50002

Accounting Equation

BrainCheck

Class 11 - Accountancy - Paper 062

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

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

○ A. 29999

○ B. 30000

○ C. 30002

○ D. 30001

Accounting Equation

6. 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

7. 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

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

○ A. expense

○ B. capital

○ C. loss

○ D. drawings

Recording of Transactions

BrainCheck

Class 11 - Accountancy - Paper 062

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. 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

10. Which equation fits the displayed data?

○ A. Assets = Liabilities - Capital

○ B. Liabilities = Assets + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities + Capital

Accounting Equation

11. 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

12. Sales are Rs 17000 and cost of goods sold is Rs 12000. Find gross profit.

○ A. 5002

○ B. 5001

○ C. 5000

○ D. 4999

Financial Statements

BrainCheck

Class 11 - Accountancy - Paper 062

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. 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

14. Sales are Rs 15000 and cost of goods sold is Rs 10000. Find gross profit.

○ A. 5001

○ B. 5002

○ C. 4999

○ D. 5000

Financial Statements

15. A machine costs Rs 40000. Its residual value is zero and useful life is 5 years. Find annual straight-line depreciation.

○ A. 7999

○ B. 8000

○ C. 8001

○ D. 8002

Depreciation

16. 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

BrainCheck

Class 11 - Accountancy - Paper 062

Grade 11 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

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

○ A. 30000

○ B. 29999

○ C. 30002

○ D. 30001

Accounting Equation

18. 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

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

○ A. litres only

○ B. degrees only

○ C. metres only

○ D. money

Introduction to Accounting

20. 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