Accounts from Incomplete Records MCQs with answers

Dear candidates you will find MCQ questions of 11th Class - Accountancy | Chapter: Accounts from Incomplete Records here. Learn these questions and prepare yourself for coming examinations. You can check the right answer of any question by clicking the option or by clicking view answer button.
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Q. A system of accounting which is not based on double entry system is called-
  • (A) Cash system
  • (B) Mahajani system of accounting
  • (C) Incomplete accounting system
  • (D) None of these
πŸ’¬ Discuss
βœ… Correct Answer: (C) Incomplete accounting system
Q. Accounts which are maintained under single entry system-
  • (A) Personal accounts
  • (B) Impersonal accounts
  • (C) Both A and B
  • (D) None of these
πŸ’¬ Discuss
βœ… Correct Answer: (A) Personal accounts
Q. Statement of affairs is prepared to-
  • (A) Know about assets
  • (B) Know about liabilities
  • (C) Calculate capital
  • (D) Know financial position
πŸ’¬ Discuss
βœ… Correct Answer: (C) Calculate capital
Q. Liabilities and assets amount to Rs. 50,000 and Rs. 78,000 respectively. The difference amount will represent-
  • (A) Creditors
  • (B) Debentures
  • (C) Profit
  • (D) Capital
πŸ’¬ Discuss
βœ… Correct Answer: (D) Capital
Q. Generally incomplete records are maintained by-
  • (A) Trader
  • (B) Society
  • (C) Company
  • (D) Government
πŸ’¬ Discuss
βœ… Correct Answer: (A) Trader

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