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Account M.C.Q (1 Marks)

Accounting Equation · CBSE STD 11 Commerce (CBSE - English Medium). 11 questions.

Questions

M.C.Q (1 Marks)

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11 questions · timed · auto-graded

MCQ 11 Mark
Decrease in one liability may lead to:
  • A
    Decrease in an asset.
  • B
    Increase in another liability.
  • ✓
    Either (a) or (b).
  • D
    None of these.
Answer
Correct option: C.
Either (a) or (b).
Either (a) or (b).
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MCQ 21 Mark
Which of the following is correct?
  • ✓
    S.no
    Assets
    Liabilities
    Capital
    (a)
    ₹ 7,85,000
    ₹ 1,25,000
    ₹ 6,60,000
  • B
    (b)
    ₹ 8,20,000
    ₹ 2,80,000
    ₹ 11,00,000
  • C
    (c)
    ₹ 9,55,000
    ₹ 1,15,000
    ₹ 8,20,000
  • D
    (d)
    ₹ 5,42,000
    ₹ 6,54,000
    ₹ 1,12,000
Answer
Correct option: A.
S.no
Assets
Liabilities
Capital
(a)
₹ 7,85,000
₹ 1,25,000
₹ 6,60,000
S.no
Assets
Liabilities
Capital
(a)
₹ 7,85,000
₹ 1,25,000
₹ 6,60,000
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MCQ 31 Mark
The liabilities of a firm are 3,000; the capital of the proprietor is 7,000. The total assets are:
  • A
    ₹ 7,000
  • ✓
    ₹ 10,000
  • C
    ₹ 4,000
  • D
    None of these.
Answer
Correct option: B.
₹ 10,000
₹ 10,000
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MCQ 41 Mark
Purchase of furniture on credit means:
  • A
    Decrease in asset and increase in liability.
  • ✓
    Increase in asset and increase in liability.
  • C
    Increase in asset and decrease in liability.
  • D
    Decrease in asset and decrease in liability.
Answer
Correct option: B.
Increase in asset and increase in liability.
Increase in asset and increase in liability.
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MCQ 51 Mark
$'X'$ commenced business on $1st$ April, $2013$ with a capital of ₹ $6,00,000$. On $31^{st}$ March, $2014$ his assets were worth ₹ $8,00,000$ and liabilities ₹ $50,000$. Find out his closing capital:
  • ✓
    $₹ 7,50,000.$
  • B
    $₹ 2,00,000.$
  • C
    $₹ 5,50,000.$
  • D
    None of these.
Answer
Correct option: A.
$₹ 7,50,000.$
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MCQ 61 Mark
Which accounting equation is incorrect out of the following?
  • A
    Liabilities = Assets - Capital.
  • ✓
    Assets = Liabilities - Capital.
  • C
    Capital = Assets - Liabilities.
  • D
    Assets = Liabilities + Capital.
Answer
Correct option: B.
Assets = Liabilities - Capital.
Assets = Liabilities - Capital.
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MCQ 71 Mark
Purchase of machine by cash means:
  • A
    Decrease in asset and decrease in liability.
  • ✓
    Increase in asset and decrease in asset.
  • C
    Increase in asset and decrease in liability.
  • D
    Decrease in asset and increase in capital.
Answer
Correct option: B.
Increase in asset and decrease in asset.
Increase in asset and decrease in asset.
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MCQ 81 Mark
Amount withdrawn by proprietor for personal use will ... Cash and Capital.
  • A
    Increase.
  • ✓
    Decrease.
  • C
    Not Change.
  • D
    None of these.
Answer
Correct option: B.
Decrease.
Decrease.
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MCQ 91 Mark
Which of the following equations is correct?
  • A
    Assets + Capital = Liabilities.
  • ✓
    Assets - Liabilities = Capital.
  • C
    Assets + Liabilities = Capital.
  • D
    None of these.
Answer
Correct option: B.
Assets - Liabilities = Capital.
Assets - Liabilities = Capital.
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MCQ 101 Mark
An increase in one asset is accompanied by:
  • A
    Decrease in another asset.
  • B
    Increase in a liability.
  • C
    Increase in capital.
  • ✓
    All of these.
Answer
Correct option: D.
All of these.
All of these.
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MCQ 111 Mark
Payment to a creditor means:
  • A
    Increase in asset and decrease in liability.
  • ✓
    Decrease in asset and decrease in liability.
  • C
    Decrease in asset and increase in liability.
  • D
    Increase in asset and increase in liability.
Answer
Correct option: B.
Decrease in asset and decrease in liability.
Decrease in asset and decrease in liability.
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M.C.Q (1 Marks) - Account STD 11 Commerce Questions - Vidyadip