CBSE Class 11 Accountancy Chapter 4 Recording of Transactions 2 MCQs

Accountancy Class 11 Recording of Transactions 2 MCQs: There are three major streams (Science, Commerce & Humanities) in higher-secondary classes. They follow the curriculum outlined by the Central Board of Secondary Education (CBSE). The class 12 board exams are considered one of the toughest in the country and are mandatory for all students. A strong base is needed to succeed in the exams, making Class 11 concepts essential to master for all students.

Accountancy is a main subject of the commerce stream and is completely new for every student. It introduces students to the complex study of processing and recording economic data. Accountancy is a challenging subject and is a source of headache for most class 11 students.

However, Accountancy is a must for all commerce careers, and you need immense practice to master it. A good way of doing so is by solving Accountancy multiple-choice questions. Recording of Transactions 2 is the fourth chapter of the class 11 accountancy book - Financial Accounting.

It’s a lengthy and important chapter that demands in-depth study and consistent practice. Going through different types of questions like MCQs and long answers while studying can improve your learning ability. On that note, check out the MCQs for CBSE Class 11 Accountancy Chapter 4 Recording of Transactions 2 below.

Related: 

• CBSE Class 11 Accountancy Syllabus 2024
• CBSE Recording of Transactions - II Class 11 Mind Map for Chapter 4 of Accountancy

MCQs for CBSE Class 11 Accountancy Chapter 4 Recording of Transactions 2

Question 1: Credit balance of the bank account in the cash book shows:

(a) Cash deposited into our bank

(b) Overdraft

(c) Cash is withdrawn from the bank

(d) None of the above

Question 2: The basis of recording transactions is-

(a) Vouchers

(b) Order form

(c) Profit

(d) Quotation list

Question 3: Cash book does not record transaction of:

(a) Cash nature
(b) Cash and credit nature
(c) Credit nature

(d) None of these

Question 4: If total assets of a business are ₹ 1,90,000 and net worth is ₹ 60,000, outside liability will be

(a) ₹ 90,000
(b) ₹ 2,30,000
(c) ₹ 1,80,000
(d) ₹ 1,30,000

Question 5: It is a system of paying advance in the beginning and reimbursing the amount spent from time to time to the petty cashier.

(a) Imprest System
(b) Financial System

(c) Analytical System
(d) Ordinary System

Question 6: A cheque on which two parallel lines are drawn in the left top corner is called –

(a) Bearer cheque
(b) Traveller’s cheque

(c) None of these.
(d) Account payee cheque
Question 7: Which category does ‘Drawings’ fall under?

(a) Real Account

(b) Personal Account

(c) Nominal Account

(d) None of these

Question 8: The periodic total of the sales return journal is posted to _____.

(a) Sales account

(b) Goods account

(c) Sales return account

(d) Purchase return account

Question 9: The total of the Sales Book is posted to

(a) debit of the Sales Account
(b) credit of the Sales Account
(c) debit of the Customers’ Account
(d) credit of Customers’ Accounts

Question 10: When a cheque deposited into a bank is dishonoured by the bank, it will be recorded in cash book in :  

(a) Bank Column on credit side

(b) Bank Column on debit side

(c) Cash Column on credit side

(d) Cash Column on debit side

Also Read: CBSE Class 11 Syllabus 2023-2024: Download Class 11th  Syllabus PDF