Vardhan 1

9/10/21, 2:28 PM Jawahar Navodaya Vidyalaya - Panchmahal Unit Test - 01 (2021-22) Class - XI th Commerce Subject :- Accountancy Maxim…
Jawahar Navodaya Vidyalaya -

Panchmahal Unit Test - 01 (2021-22)
Class - XI th Commerce Subject :-
Accountancy Maximum Marks:- 40 Time
Alloted :- 90 Minutes.
Total points 37/40
Email *
parmarharshvardhan8@gmail.com
0 of 0 points
Name of the Student
Harshvardhan Parmar
Roll No.
Jawahar Navodaya Vidyalaya - Panchmahal Unit Test - 01 (2021-22) Class - 37 of

XI th Commerce Subject :- Accountancy Maximum Marks:- 40 Time Alloted 40
:- 90 Minutes. points
https://docs.google.com/forms/d/e/1FAIpQLSdLlRjbSO8xWO2EcSnvQCPuXqIgt6-XVaDq8oC2CwhAHII-dw/viewscore?vc=0&c=0&w=1&flr=0&vi… 1/12
1. The amount of cash or goods withdrawn from the business by proprietor is 1/1
known as:
(a) Capital
(b) Drawings
(c) Debt
(d) Liability
2. Which of the following is recorded in the books of accounts? 1/1
(a) Purchases of goods
(b) Labour efficiency
(c) Labour strikes
(d) Quality of staff
3. Internal users of accounting information are 1/1
(a) Employees
(b) Management
(c) Owners
(d) All of the above
4. Accounting Records: 1/1
(a) Transactions which can be measured in terms of money
(b) Only significant transactions
(c) Transactions relating to higher management
(d) None of the above
5. Which of the following is objective of accounting? 1/1
(a) Maintaining records of business transactions
(b) Ascertaining profit or loss of the business
(c) Ascertaining the financial positions of the firm
6. External users of accounting information are not: 1/1
(a) Employees
(b) Shareholders
(c) Public
(d) Creditors
7. If the users of accounting information are able to compare various aspect of1/1
an entity over different time periods, accounting information has the quality
of:
(a) Reliability
(b) Relevance
(c) Comparability
(d) Understandability
8. Book-keeping is mainly concerned with: 1/1
(a) Recording of financial data
(b) Preparation of financial statements
(c) Analysis of results
(d) Interpretation of accounting information
9. Which of the following characteristics of accounting is in the correct 1/1

sequence?
(a) Classifying, Recording, Analysis, Summarising
(b) Analysis, Summarising, Classifying, Recording
(c) Recording, Classifying, Summarising, Analysis
(d) Both (b) and (c)
10. Which of the following is the correct sequence? 1/1
(a) Book-keeping, Accountancy, Accounting
(b) Book-keeping, Accounting, Accountancy
(c) Accounting, Accountancy, Book-keeping
11. Which of the following is considered financial obligation of the business? 1/1
(a) Assets
(b) Drawings
(c) Capital
(d) Liability
12. Which of the following liabilities are payable after a long period? 1/1
(a) Current Liabilities
(b) Non-current liabilities
(c) Contingent Liabilities
13. The type of expenditure may be: 1/1
(a) Capital
(b) Revenue
(c) Deferred revenue
14. Current assets do not include: 1/1
(a) Cash
(b) Bank Balance
(c) Debtors
(d) Bill Payable
15. A person who invests capital in the business is known as: 1/1
(a) Creditor
(b) Proprietor
(c) Supplier
(d) Debtor
16. Current liabilities include: 0/1
(a) Long-term loan
(b) Debentures
(c) Creditors
(d) Bank Balance
17. Tangible assets do not include: 1/1
(a) Machinery
(b) Patents
(c) Building
(d) Computers
18. Mr. Khurana purchases goods of `15,000 on credit from your firm. What 1/1
will you consider Mr. Khurana?
(a) Debtor
(b) Creditor
(c) Investor
(d) Proprietor
19. Those assets which have physical existence and can be seen and touched 1/1
are:
(a) Current assets
(b) Tangible assets
(c) Intangible assets
(d) None of these
20. The goods available with the business for sale on a particular date is 1/1
known as:
(a) Stock
(b) Creditors
(c) Debtors
(d) None of these
21. The excess of expenses of a period over its related revenues is termed as: 1/1
(a) Profit
(b) Loss
(c) Gain
(d) Expenses
22. Current assets do not include: 1/1
(a) Motor car
(b) Inventory
(c) Bills Receivable
(d) Debtors
23. Current liabilities are liabilities that are payable with in: 1/1
2 years
1 year
3 years
4 years
24. Which branch is used for calculating cost of product is: 1/1
Financial Accounting
Management Accounting
Cost Accounting
All of these
25. Who is the father of Accounting: 2/2
(a) Luca Pacioli
(b) Charles Babeje
(c) Henry Fayol
(d) F. W. Tailor
26. Ghanshyam is a furniture dealer. Which one of the following will not be 0/2
recorded in his books?
(a) Purchase o f Timber for Rs 50,000
(b) Sofa set worth Rs 40,000 taken to his home
(c) Sale o f household furniture for Rs 5,000
(d) Dining table ofRs 30,000 given to his friend as gift
27. Which o f the following transactions is of a financial character and will be 2/2
recorded in the business?
(a) Goods taken by Proprietor for his personal used
(b) Interviewing the candidates for employment
(c) Sale of Household furniture Rs 5,000
(d) Received an order for sales of goods
https://docs.google.com/forms/d/e/1FAIpQLSdLlRjbSO8xWO2EcSnvQCPuXqIgt6-XVaDq8oC2CwhAHII-dw/viewscore?vc=0&c=0&w=1&flr=0&… 10/12
28. Which o f the following is the most relevant accounting information for 2/2
taxation authorities?
(a) Cash Balance o f the firm
(b) Book Value o f the Fixed Assets
(c) Credit Sales o f the year
(d) Profit generated during the year
29. Which o f the following is not a limitation of accounting? 2/2
(a) Based on accounting conventions
(b) Evidence in Legal Matters
(c) Incomplete Information
(d) Omission o f Qualitative Informations
30. Which external user o f accounting information is most interested in 2/2

knowing the long-term solvency positions o f the firm?
(a) Banks and Financial Institutions
(b) Employees
(c) Management
(d) Researchers
31. Match the followings: *
Cash in Hand Credit Sales Drawings Land Score
Goods sold on
1/1
credit
Goods taken
by proprietor
1/1
for personal
use
Fixed Assets -
1/1
Tangible
Current Asset 1/1
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9/10/21, 2:28 PM Jawahar Navodaya Vidyalaya - Panchmahal Unit Test - 01 (2021-22) Class - XI th Commerce Subject :- Accountancy Maxim…

Jawahar Navodaya Vidyalaya -

Name of the Student

Jawahar Navodaya Vidyalaya - Panchmahal Unit Test - 01 (2021-22) Class - 37 of

2. Which of the following is recorded in the books of accounts? 1/1

(a) Purchases of goods

(b) Labour efficiency

(c) Labour strikes

(d) Quality of staff

3. Internal users of accounting information are 1/1

(d) All of the above

4. Accounting Records: 1/1

(a) Transactions which can be measured in terms of money

(b) Only significant transactions

(c) Transactions relating to higher management

(d) None of the above

5. Which of the following is objective of accounting? 1/1

(a) Maintaining records of business transactions

(b) Ascertaining profit or loss of the business

(c) Ascertaining the financial positions of the firm

(d) All of the above

6. External users of accounting information are not: 1/1

8. Book-keeping is mainly concerned with: 1/1

(a) Recording of financial data

(b) Preparation of financial statements

(c) Analysis of results

(d) Interpretation of accounting information

9. Which of the following characteristics of accounting is in the correct 1/1

(a) Classifying, Recording, Analysis, Summarising

(b) Analysis, Summarising, Classifying, Recording

(c) Recording, Classifying, Summarising, Analysis

(d) Both (b) and (c)

10. Which of the following is the correct sequence? 1/1

(a) Book-keeping, Accountancy, Accounting

(b) Book-keeping, Accounting, Accountancy

(c) Accounting, Accountancy, Book-keeping

(d) All of the above

(a) Current Liabilities

(b) Non-current liabilities

(c) Contingent Liabilities

(d) All of the above

13. The type of expenditure may be: 1/1

(c) Deferred revenue

(d) All of the above

14. Current assets do not include: 1/1

(b) Bank Balance

(d) Bill Payable

16. Current liabilities include: 0/1

(a) Long-term loan

(d) Bank Balance

17. Tangible assets do not include: 1/1

(a) Current assets

(b) Tangible assets

(c) Intangible assets

(d) None of these

(d) None of these

22. Current assets do not include: 1/1

(a) Motor car

(c) Bills Receivable