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Class 11 Accountancy: Theory Base of Accounting — Chapter Test 1

Class 11 • Accountancy • Theory Base of Accounting • 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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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
The business entity concept means that:
A
owner and business are the same
B
business is separate from its owner
C
business has no assets
D
profits belong to employees
View Correct Answer & Step-by-Step Solution
Correct Option:(B)business is separate from its owner

Detailed explanation is available inside the official test attempt review.

Question 2 of 15
The going concern concept assumes that the business:
A
will close soon
B
will continue for the foreseeable future
C
has no liabilities
D
is profitable
View Correct Answer & Step-by-Step Solution
Correct Option:(B)will continue for the foreseeable future

Detailed explanation is available inside the official test attempt review.

Question 3 of 15
The money measurement concept means that:
A
all events are recorded
B
only transactions measurable in money are recorded
C
only cash is recorded
D
profits are shown in gold
View Correct Answer & Step-by-Step Solution
Correct Option:(B)only transactions measurable in money are recorded

Detailed explanation is available inside the official test attempt review.

Question 4 of 15
The accounting period concept requires results to be shown for:
A
the life of business only
B
a specific period, usually one year
C
each day
D
no fixed period
View Correct Answer & Step-by-Step Solution
Correct Option:(B)a specific period, usually one year

Detailed explanation is available inside the official test attempt review.

Question 5 of 15
The dual aspect concept is expressed as:
A
Assets = Liabilities + Capital
B
Assets = Capital − Liabilities
C
Profit = Revenue
D
Capital = Drawings
View Correct Answer & Step-by-Step Solution
Correct Option:(A)Assets = Liabilities + Capital

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: Theory Base of Accounting — 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 "Theory Base of Accounting" 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.