CBSE Class 11 Accountancy Recording of Transactions - II MCQs Set 01

Accountancy Objective Questions and Answers: Chapter 04 Recording of Transactions-II

Access targeted multiple-choice questions for Chapter 04 Recording of Transactions-II designed to align with the latest CBSE academic syllabus for Class 11 Accountancy. These objective practice sets help students evaluate their conceptual understanding and improve exam readiness.

Download Chapter 04 Recording of Transactions-II MCQs with Answers

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MCQs

Question : For GST paid on inter-state of goods, which of the following account is credited:
(a) Output CGST A/c
(b) Output IGST A/c
(c) Input IGST A/c
(d) Output SGST A/c
Answer : B
 
Question : Balancing of account means :
(a)Total of debit side
(b) Total of credit side
(c) Difference in total of debit & credit 
(d) None of these
Answer : C
 
Question : If total assets of a business are ₹ 1,80,000 and net worth is ₹ 50,000, outside liability will be
(a) ₹ 1,30,000
(b) ₹ 2,30,000
(c) ₹ 1,80,000
(d) ₹ 90,000
Answer : A
 
Question : The cash – book meant for recording petty expenses is called –
(a) Simple cash – book
(b) Petty cash – book
(c) Triple column
(d) None of these.
Answer : B
 
Question : Salary due for the month of march will appear in ______ side of the cash book.
(a) Receipt
(b) Payment
(c) Contra
(d) None of the above.
Answer :  D
 
Question : Rent paid is a
(a) Personal Account
(b) Real Account
(c) Nominal Account
(d) Liability Account 
Answer : C
 
Question : _______ is not a subsidiary book.
(a) Purchase book
(b). Purchases return book
(c) Sales book
(d) Ledger
Answer :  D
 
Question : While passing an opening entry, all the assets are______while all the liabilities are_____
(a) Credited, Debited
(b) Credited, Credited
(c) None of the options
(d) Debited , credited
Answer :  D
 
Question : A sale of goods to Ram for cash is debited to
(a) Ram
(b) Cash
(c) Sales
(d) Purchases
Answer : B
 
Question : What are total number of subsidiary books available to record financial transactions?
(a) 8
(b) 7
(c) 6
(d) 12
Answer : A
 
Question : Balancing of account means
(a) Total of debit side
(b) Total of credit side
(c) Difference in total of debit & credit
(d) None of these
Answer : C
 
Question : A ledger is called a book of____
(a) Primary entry
(b) Final entry
(c) None of the options
(d) Secondary entry
Answer : D
 
Question : Recording is made in journal proper of
(a) Opening entries
(b) Closing entries
(c) Adjustment entries
(d) All of the above
Answer : D
 
Question : Personal accounts are related to :
(a) Assets and liabilities
(b) Expenses, losses and incomes
(c) Debtors and creditors
Answer : C
 
Question : The balance in Petty Cash Book is______
(a) An expense
(b) A profit
(c) A liability
(d) An asset
Answer : D
 
Question : What is “Deposit in transit” in bank reconciliation?
(a) Added to Bank Balance
(b) Subtracted From Bank Balance
(c) Subtracted From the Cash Book Balance
(d) Added to Cashbook Balance
Answer : A
 
Question : Which Account is opened first in ledger book-
(a) Personal
(b) Real
(c) Non – real
(d) None of these.
Answer :  A
 
Question : Credit purchase of furniture shall be recorded in-
(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.
Answer : B
 
Question : What is the type of Drawings Account?
(a) Personal
(b) Real
(c) Nominal
(d) Expense
Answer : A
 
Question : When a firm maintains a cash book, it need not maintain :
(a) Journal Proper
(b) Purchases (journal) book
(c) Sales (journal) book
(d) Bank and cash accounts in the ledger
Answer : D
 
Question : Goods worth Rs 7,000 were given away as charity would be credited to :
(a) Sales a/c
(b) Purchases a/c
(c) Charity a/c
(d) Trustee a/c
Answer : B
 
Question : The closing balance of the Petty Cash Book is
(a) Expense/Expenditure
(b) Profit/Gain
(c) Asset
(d) Liability
Answer : C
 
Question : Journal proper includes entries related to______
(a) Sale of asset on credit
(b) Sale of asset for cash
(c) Sale of goods for cash
(d) Sale of goods on credit
Answer :  A
 
Question : Which account will be debited in case wages are paid for installation of machinery?
(a) Machinery A/c
(b) Installation A/c
(c) Cash A/c
(d) Wages A/c
Answer :  A 
 
Question : Loss of goods by fire should be credited to
(a) Sales a/c
(b) Loss a/c
(c) Profit and loss a/c
(d) Purchases a/c
Answer : D
 
Question : Liabilities and Assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent-
(a) Creditors
(b) Debentures
(c) Profit
(d) Capital.
Answer : D
 
Question : Credit balance of bank account in cash book shows :
(a) Overdraft
(b) Cash deposted in our bank
(c) Cash withdrawn from bank
(d) None of these
Answer : B
 
Question : The periodic total of sales return journal is posted to :
(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account
Answer : D
 
Question : Cash Book records
(a) Cash receipts and payments
(b) Cash and Credit sales of goods
(c) Cash and Credit Purchase
(d) Credit Purchase of goods only.
Answer : A
 
Question : Goods purchased on cash are recorded in the
(a) Purchases (journal) book
(b) Sales (journal) book
(c) Cash book
(d) Purchases return (journal) book
Answer : C
 
Question : Credit purchase of furniture will be recorded through which voucher ?
(a) Debit voucher
(b) Credit voucher
(c) Cash voucher
(d) Transfer voucher
Answer : D
 
Question : Which statement is correct:-
(a) Keeping systematic recording of business transaction is not the function of financial accounting.
(b) Accounting is concerned with monetary transactions.
(c) Accounting is concerned with past as well as future events.
(d) Business and businessman are same identity from the accounting point of view.
Answer :  B
 
Question : An obligation of business is
(a) An Asset
(b) A Liability
(c) An Income
(d) An Expense
Answer :  B

Question : Double column cash book records
(a) All transactions
(b) Cash and bank transactions
(c) Only cash transactions
(d) Only credit transactions
Answer : B

Question : Cash book does not record transaction of:
(a) Cash nature
(b) Credit nature
(c) Cash and credit nature
(d) None of these
Answer : B

Question : The periodic total of sales return journal is posted to :
(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account
Answer : D

Question : The periodic total of purchases return journal is posted to :
(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture account
Answer : C

 

Fill in the Correct Words

Question : In double column cash book _______ transactions are also recorded.
Answer : Bank

Question : Ledger book does not possess legal acceptability.
Answer : False
 
Question : Double column cash book records transaction relating to _____ and ______
Answer : cash, bank
 
Question : Advancing money to petty cashier is called ______
Answer : Float
 
Question : The amount paid to the petty cashier at the beginning of a period is known as ______ amount.
Answer : Imprest
 
Question : In Journal proper, only _____ discount is recorded.
Answer : subsidiary
 
Question : In purchase book goods purchased on ______ are recorded.
Answer : credit
 
Question : Cash book is a ______ journal.
Answer : Subsidiary
 
Question : The balance of Income and Expenditure Accounts is transferred to _______
Answer : Profit and loss Account.
 
Question : Total of the debit side of cash book is ______ than the credit side.
Answer : More
 
Question : Only _______ transactions are recorded in cash – book. 
Answer : Cash
 
Question : Assets sold on credit are entered in _______
Answer : journal proper
 
Question : Return of goods purchased on credit to the suppliers will be entered in  _______ Journal.
Answer : Purchases Return
 
Question :  ________ of transaction is not written in Ledger Account.
Answer : Narration

Question : In Journal proper, only _________ discount is recorded.
Answer : Cash

Question : Assets sold on credit are entered in __________
Answer : Journal Proper

Question : Total of the debit side of cash book is _______ than the credit side.
Answer : More

Question : In double column cash book _______ transactions are also recorded.
Answer : Bank

Question : The amount paid to the petty cashier at the beginning of a period is known as ________ amount.
Answer : Imprest

 

State whether the following statements are True or False

Question : Journal is a book of secondary entry. (False)

Question : Assets sold, on credit are entered in sales journal. (False)

Question : Cash sales are entered in sales journal. (False)

Question : Ledger is a subsidiary book. (True)

Question : Cash received is entered on the debit side of cash book. (True)

Question. Balancing of account means total of debit and credit side. (False)

Question.  Assets sold on credit are entered in sales journal. (False)

Question. Journal is a book of secondary entry. (False)

Question. Cash book records transactions relating to receipts and payments. (True)

Question. Balancing of account means total of debit and credit side. (False)

Question. Credit purchase of machine is entered in purchase journal. (False)

Question. Cash received is entered on the debit side of cash book. (True)

 

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Multiple Choice Questions (MCQs) for Class 11 Accountancy Chapter 04 Recording of Transactions-II

About Chapter 04 Recording of Transactions-II MCQs for Class 11 Accountancy

Test your conceptual understanding of Chapter 04 Recording of Transactions-II with these targeted multiple-choice questions. Designed in alignment with the latest CBSE curriculum for Class 11 Accountancy, these problem sets build accuracy and prepare students for objective exams.

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Where can I access latest CBSE Class 11 Accountancy Recording of Transactions - II MCQs Set 01?

You can get most exhaustive CBSE Class 11 Accountancy Recording of Transactions - II MCQs Set 01 for free on StudiesToday.com. These MCQs for Class 11 Accountancy are updated for the 2026-27 academic session as per CBSE examination standards.

Are Assertion-Reasoning and Case-Study MCQs included in the Accountancy Class 11 material?

Yes, our CBSE Class 11 Accountancy Recording of Transactions - II MCQs Set 01 include the latest type of questions, such as Assertion-Reasoning and Case-based MCQs. 50% of the CBSE paper is now competency-based.

How do practicing Accountancy MCQs help in scoring full marks in Class 11 exams?

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Yes, Accountancy MCQs for Class 11 have answer key and brief explanations to help students understand logic behind the correct option as its important for 2026 competency-focused CBSE exams.

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