Computerized Accounting Software MCQ

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Computerized Accounting System with Answers Pdf free download. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. We have provided Computerized Accounting System Class 11 Accountancy MCQs Questions with Answers to help students understand the concept very well.

Computerized Accounting Software MCQ

1. Which accounting concept satisfy the valuation criteria

A. Going concern, Realization, Cost

B. Going concern, Cost, Dual aspect

C. Cost, Dual aspect, Conservatism

D. Realization, Conservatism, Going concern.

Answer: –

A. Going concern, Realization, Cost

2. A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?

A. Going concern

B. Cost

C. Accrual

D. Money measurement

Answer: –

C. Accrual

3. In which of the following cases, accounting estimates are needed?

A. Employs benefit schemes

B. Impairment of losses

C. Inventory obsolescence

D. All of the above

Answer: –

D. All of the above

4. Diwali advance given to an employee is

A. Revenue Expenditure

B. Capital Expenditure

C. Deferred Revenue Expenditure

D. Not an Expenditure

Answer: –

D. Not an Expenditure

5. A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items.
(i) The cost of an asset Rs.23,000 has been taken as an expense_new_line_(ii) The firm anticipated a profit of Rs.12,000 on the sale of an old furniture_new_line_(iii) Salary of Rs.7,000 outstanding for the year has not been taken into account._new_line_(iv) An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded in the books at Rs.85,000._new_line_What is the correct amount of profit to be reported in the books?

A. Rs.1,47,000

B. Rs. 1,51,000

C. Rs.1,63,000

D. Rs.1,41,000

Answer: –

B. Rs. 1,51,000

Also Read :-

6. The process of recording financial data upto trial balance is

A. Book keeping

B. Classifying

C. Summarizing

D. Analyzing

Answer: –

A. Book keeping

7. Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on sale is

A. Capital & transferred to capital reserve

B. Revenue & transferred to P & L a/c c)

C. Capital & transferred to P & L a/c

D. Revenue & tr

Answer: –

D. Revenue & tr

8. In income measurement & recognition of assets & liabilities which of the following concepts goes together ?

A. Periodicity, Accural, Matching

B. Cost, Accural, matching

C. Going concern, cost, Realization

D. Going concern, Periodicity, Reliability

Answer: –

A. Periodicity, Accural, Matching

9. Interpretation means

A. Explanation of meaning and significance of the data in Financial Statements.

B. Concerned with preparation and presentation of classified data

C. Systematic analysis of recorded data

D. Methodical classification of data given in Financial Statements.

Answer: –

A. Explanation of meaning and significance of the data in Financial Statements.

10. A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated?

A. Money measurement

B. Conservatism

C. Consistency

D. None of these

Answer: –

B. Conservatism

Also Read :-

1. Which accounting concept satisfy the valuation criteria

2. A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?

3. In which of the following cases, accounting estimates are needed?

4. Diwali advance given to an employee is

6. The process of recording financial data upto trial balance is

7. Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on sale is

8. In income measurement & recognition of assets & liabilities which of the following concepts goes together ?

9. Interpretation means

10. A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated?

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( Best 130+ ) Computerized Accounting Software MCQ

Computerized Accounting Software MCQ

Computerized Accounting Software MCQ

1. Which accounting concept satisfy the valuation criteria

2. A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?

3. In which of the following cases, accounting estimates are needed?

4. Diwali advance given to an employee is

6. The process of recording financial data upto trial balance is

7. Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on sale is

8. In income measurement & recognition of assets & liabilities which of the following concepts goes together ?

9. Interpretation means

10. A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated?

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