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Class 11 Accountancy: Financial Statements II — Chapter Test 1

Class 11 • Accountancy • Financial Statements II • Chapter Test

MediumFREE

15

Questions

20 min

Duration

15

Marks (1 each)

No

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

  • • Read each question carefully and pick the correct answer.
  • • You can mark questions for review and come back to them.
  • • Answers are saved automatically.
  • • The test is submitted automatically when time runs out.

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This test is completely free.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15
Adjustments are needed in final accounts to follow the:
A
cash concept
B
accrual/matching concept
C
entity concept only
D
money measurement concept only
View Correct Answer & Step-by-Step Solution
Correct Option:(B)accrual/matching concept

Detailed explanation is available inside the official test attempt review.

Question 2 of 15
Outstanding expenses are shown in the Balance Sheet as a:
A
current asset
B
current liability
C
fixed asset
D
capital
View Correct Answer & Step-by-Step Solution
Correct Option:(B)current liability

Detailed explanation is available inside the official test attempt review.

Question 3 of 15
Prepaid expenses are shown in the Balance Sheet as a:
A
current liability
B
current asset
C
capital
D
reserve
View Correct Answer & Step-by-Step Solution
Correct Option:(B)current asset

Detailed explanation is available inside the official test attempt review.

Question 4 of 15
Accrued income is shown as a:
A
liability
B
current asset
C
expense
D
capital
View Correct Answer & Step-by-Step Solution
Correct Option:(B)current asset

Detailed explanation is available inside the official test attempt review.

Question 5 of 15
Income received in advance is shown as a:
A
current asset
B
current liability
C
income
D
fixed asset
View Correct Answer & Step-by-Step Solution
Correct Option:(B)current liability

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 11 Accountancy: Financial Statements II — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Financial Statements II" of Class 11 Accountancy. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.