{"id":19323,"date":"2022-06-03T08:00:54","date_gmt":"2022-06-03T02:30:54","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=19323"},"modified":"2022-05-21T12:22:54","modified_gmt":"2022-05-21T06:52:54","slug":"mcq-questions-for-class-11-accountancy-chapter-2","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-2\/","title":{"rendered":"MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers<\/a>. You can also verify your answers from our provided Theory Base of Accounting Class 11 MCQs Questions with Answers. So, ace up your preparation with MCQ on Theory Base of Accounting Class 11 Objective Questions.<\/p>\n

Theory Base of Accounting Class 11 MCQs Questions with Answers<\/h2>\n

Choose the Correct Answer.<\/span><\/p>\n

Question 1.
\nDuring the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
\n(a) Conservation
\n(b) Matching
\n(c) Accounting period
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Accounting period<\/p>\n<\/details>\n

\n

Question 2.
\nWhen information about two difference enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:
\n(a) Verifiability
\n(b) Relevance
\n(c) Reliability
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) None of the above<\/p>\n<\/details>\n

\n

Question 3.
\nA concept that a business enterprise will not be sold or liquidated in the near future is known as :
\n(a) Going concern
\n(b) Economic entity
\n(c) Monetary unit
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Going concern<\/p>\n<\/details>\n

\n

Question 4.
\nThe primary qualities that make accounting information useful for decision-making are
\n(a) Relevance and freedom from bias
\n(b) Reliability and comparability
\n(c) Comparability and consistency
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Reliability and comparability<\/p>\n<\/details>\n

\n

Fill in the blank with correct word<\/span><\/p>\n

Question 1.
\nRecognition of expenses in the same period as associated revenues is called ………………. concept.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Matching<\/p>\n<\/details>\n

\n

Question 2.
\nThe accounting concept that refers to the tendency of accountants to resolve uncertainty and doubt in favour of understating assets and revenues and overstating liabilities and expenses is known as ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Conservatism<\/p>\n<\/details>\n

\n

Question 3.
\nRevenue is generally recognised at the point of sale denotes the concept of ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Revenue Realisation<\/p>\n<\/details>\n

\n

Question 4.
\nThe ………………… concept requires that the same accounting method should be used from one accounting period to the next.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Consistency<\/p>\n<\/details>\n

\n

Question 5.
\nThe ……………….. concept requires that accounting transaction should be free from the bias of accountants and others.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Objectivity.<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 11 Accountancy Theory Base of Accounting MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers. You can also verify your answers from our provided …<\/p>\n

MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 2 Theory Base of Accounting with Answers Pdf free download are compiled here to get good practice on all fundamentals. 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