Worksheets11th Accounts Ch-1
Total questions: 16
Worksheet time: 8mins
Bookkeeping is ______.
An art
A science
Both an art as well as science
None of these
___________ is the last step of accounting as a process of information.
Recording of data in the books of accounts
Preparations of summaries in the form of financial statement
Communication of information
Analysis and interpretation of information
The person, firm, or institution who does not pay the price in cash for the goods purchased or the services received is called ______.
Creditor
Proprietor
Debtor
None of these
Use of a common unit of measurement and common format of reporting promotes _____.
Comparability
Understandability
Relevance
Reliability
Cash, goods, or assets invested by the proprietor in the business for earning profit is called ______.
Profit
Capital
Fixed assets
None of these
Which qualitative characteristics of accounting information are reflected when accounting information is clearly presented?
Comparability
Understandability
Relevance
Reliability
Which is not the advantage of Accounting
Helps in taking Business Decission
Helps in Financial Information
Helps in Comparative Study
Helps in Window Dressing
Accountings ignores which element?
Quantitative
Quanlative
Qualitative
Quaalii
The end result of which gives Trading A/c,Profit & Loss A/c & Balance sheet?
Cost A/cing
Financial A/cing
Management A/cing
None of these
Which is not an example of Inter firm Comparasion?
Jio with Airtel
Jio with BSNL
Jio with Jio
Jio with V!
Which is not an example of external users?
Owner
Investors
Employees
Banks
Trading A/c gives?
KP or KL
GP or GL
NP or NL
SP or SL
"Double Entry system helps to detect Fraud"
Do you agree with the given Statement?
Not at all
Yes
Can't say
May be
"Single entry system is accepted by Law"
Do you agree with the given Statement?
Not at all
Yes
Can't say
May be
The objectives of Accounting are?
Systematic Records
Financial Statements
Management Decissions
All of these
Which is performed by Senior staff as it requires Special skills?
Book keeping
Accounting
Both of these
None of These
