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MCQ Chapter 10 Accountancy Class 11 Maharashtra Board

Single Entry System

1. Which of the following is deducted from profit as a provision for expected loss?

Question 1 of 20

2. In Single Entry System, which statement is similar to Balance Sheet?

Question 2 of 20

3. Which of the following is NOT added while calculating Adjusted Closing Capital?

Question 3 of 20

4. In Single Entry System, which of the following is ignored while calculating capital?

Question 4 of 20

5. What will be the effect of depreciation on furniture in the Statement of Profit or Loss?

Question 5 of 20

6. Which statement helps in determining the financial position of the business?

Question 6 of 20

7. Overvaluation of liabilities means:

Question 7 of 20

8. What is the treatment of interest on loan in the Statement of Profit or Loss?

Question 8 of 20

9. Under Single Entry System, how is Trial Balance treated?

Question 9 of 20

10. Which item is considered a gain while preparing the Statement of Profit or Loss?

Question 10 of 20

11. Interest on Capital is:

Question 11 of 20

12. Interest on Drawings is:

Question 12 of 20

13. In the absence of dates, interest on drawings is calculated for:

Question 13 of 20

14. Bad debts are:

Question 14 of 20

15. In Single Entry System, assets like Machinery and Furniture are:

Question 15 of 20

16. What is the effect of Outstanding Income in the Statement of Profit or Loss?

Question 16 of 20

17. Which of the following is NOT a component in the Statement of Affairs?

Question 17 of 20

18. Which of the following is added while computing profit in Statement of Profit or Loss?

Question 18 of 20

19. Which of these increases the profit in Statement of Profit or Loss?

Question 19 of 20

20. What is the treatment of Income Received in Advance in Profit or Loss Statement?

Question 20 of 20


 

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