MCQ Chapter 2 Accountancy Class 11 Maharashtra Board Meaning and Fundamentals of Double Entry Book-Keeping 1. Which of the following is a Liability?Cash A/cGoodwill A/cRent Received A/cOutstanding Rent A/cQuestion 1 of 202. What is the treatment for loss by fire?Debit Loss A/cCredit Fire A/cCredit Capital A/cDebit Cash A/cQuestion 2 of 203. Which of the following is a Capital Account?Income Received A/cSunil’s A/cAditya’s Capital A/cPurchase A/cQuestion 3 of 204. Increase in Revenue is always __________.DebitedCreditedIgnoredReducedQuestion 4 of 205. What is the nature of Drawings A/c?CapitalLiabilityRealPersonalQuestion 5 of 206. Rent Payable is a __________.AssetLiabilityCapitalExpenseQuestion 6 of 207. Income Received in Advance is treated as a __________.AssetExpenseLiabilityCapitalQuestion 7 of 208. What is the primary objective of Double Entry System?To calculate taxTo prepare cash bookTo record one aspectTo record both aspects of transactionQuestion 8 of 209. Who is the receiver in personal accounts?OwnerDebtorReceiver of benefitGiver of cashQuestion 9 of 2010. Which account is debited when cash is deposited into the bank?Capital A/cCash A/cBank A/cInterest A/cQuestion 10 of 2011. What type of account is ‘Copyright A/c’?Nominal AccountTangible Real AccountIntangible Real AccountPersonal AccountQuestion 11 of 2012. Which of the following accounts represents Income?Wages A/cRepairs A/cInterest Received A/cStationery A/cQuestion 12 of 2013. ‘Depreciation on Motor Car’ is classified under which account type?Real AccountLiability AccountExpense (Nominal) AccountAsset AccountQuestion 13 of 2014. If Goods are purchased from Sunil on credit, which account is credited?Purchase A/cSunil’s A/cSales A/cCash A/cQuestion 14 of 2015. When cash is deposited into Bank of India, which account is debited?Cash A/cBank of India A/cCapital A/cDrawings A/cQuestion 15 of 2016. What is the effect of receiving Commission in cash?Increase in ExpenseDecrease in LiabilityIncrease in Asset and IncomeIncrease in LiabilityQuestion 16 of 2017. What is the rule applied when 'Drawings A/c' is debited?Increase in IncomeDecrease in LiabilityDecrease in CapitalIncrease in CapitalQuestion 17 of 2018. Which account is affected when telephone bill for office use is paid in cash?Cash and Telephone A/cDrawings and Cash A/cTelephone (Expense) and Cash A/cSales and Telephone A/cQuestion 18 of 2019. Which of the following is an example of Real Account?Discount Received A/cInterest A/cBank A/cSalary A/cQuestion 19 of 2020. Under the modern approach, what is the rule for increase in liabilities?DebitIgnoreCreditCancelQuestion 20 of 20 Loading...
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