As you required for the Accountancy Question Papers for Class 11, I am uploading a document file having the

same. There are objective types of the questions available. I have taken following questions from the
attachment:
1. The Process of doing the total of both side of Debit and Credit of an Account is called as ?
Ans. The process of doing total for both of the sides of an Account is called as Casting of an Account.
2. What is rule for Nominal Account ?
Ans. The Rule of the Nominal Account is Debit all the Expenses and Loses and Credit all the gains and
incomes.
3. Write short comment on functionality of a Computer.
Ans. A computer is a Electronic Machinery which calculates the equations automatically on basis of the
software which is written program with set of defined rules by a program or specialist.
4. Creditors are the external or internal users of the financial statement?
Ans. External Users
5. What do you mean by a Business transaction?
Ans. A business transaction means it can be measured in terms of Money.
6. Give an example of Documentary Evidence.
Ans. Voucher is example of documentary evidence.
7. What do you mean by Bad Debts?
Ans. When a receivable amount become not possible to receive by the person who owes it is referred as Bad
Debts.
8. Define the term Purchase Return.
Ans. When a purchase is returned back in whole or in some part is called or referred as Purchase Return to its
supplier or vendor, in other words we can explain that the goods delivered are not up to the mark or totally
different from the goods which were ordered most of the time its happened due to negligence of the supplier or
may be by other reason. An Organization is not in position to keep the defaulted goods, so its returns it to the
supplier, the part of the returned goods is considered as the Goods or Purchase Returned.
9. Describe the main features of the Trial Balance.
Ans. Trial Balance is the summary of the ledger accounts.
Its not the final statement but its is source to prepare the final Statement.
Its for the Check the arithmetical accuracy of the Accounts.

Its the base of preparing the final statements.

10. Define the Bank Reconciliation Statement.
Ans. In simple words the statement which is prepare to reconcile the differences between Balances of Bank in
Cash Book and Bank Book is referred as Bank Reconciliation Statement.
11. What are the Rectifications of the Errors?
Ans. Procedure to find out the errors and then rectify them in proper manner to make the accounts book
accurate is called the Rectification of Errors.
12. Explain that how the Creditors can be benefited with Financial Statements.
Ans. Creditors are the companies or persons who sale their goods on Credit to organization or firm or
enterprises simply to their customers, they want their money should be recovered fast and safely creditors
needs their money to be safe in respect of the financial statement, a creditor can see the financial result and
can easily assume the profit or financial position of the organization in future, so he can decide whether he
should do the business with that organization or not.
13. Explain some Disadvantages of Single Entry system with example.
Ans. Few disadvantages can be considered under the Single Entry System like since there is no Financial
statements are prepared like Trial Balance to one cannot determine the accuracy lying the books of account or
not. It cannot fetch any proved or beneficial information to the external or internal users of the organization.
Assets under this system are not kept as accounted to there is always uncertainly regarding usage of the
Assets by the organization is proper or improver.
SECTION-B
15. Why a Not-For-Profit Organization maintains Receipt and Payments Account in addition of preparing the
Cash book?
Ans. Cash book is a book where all Cash basis transactions take places on Date of Entry basis, they are in raw
form, one cannot take any decision on behalf of Cash book because it doesnt show any result, the need the of
Receipt and Payment Account is felt as it is summary of the Cash payments and cash receipt during the
accounting year.

17. What would be the suitable classification for the following Accounts
A) Fixed Assets Sold
B) Plant and Machinery
Ans. Nominal A/c
Real Accounts
18. If there is some increase in the following transaction which side for it will be recorded? Explain with suitable
example.
1. Interest Receivable

2. Interest Payable
Ans. 1. Debit Receivable Current Assets A/c
2. Credit- Interest Payable

20. In respect of Financial Accounting system state any two differences between Capital Expenditure and
Revenue Expenditure.
Ans. Capital Expenditure is incurred in order to acquire the Assets which help an organization to run its
business and Revenue Expenses are those expense which are incurred to carry a business on day to day
basis.
Capital Expenses adds the efficiency to the Business while Revenue Expenses are incurred in order to bring
the profitability to the organization.
21. How a Bill of Exchange is Endorsed?
Ans. A Bill of exchange can be endorsed in a specified way, as we know that the whole purpose of raising a bill
of exchange by a seller is to get the payment for goods he has sold to the drawee of the Bill. Seller always
mentions the person or Bank to whom the payment should be made and seller will get the payment from the
Bank after realization of the payment by the drawee. This transfer of the bill in name of the Bank is called the
Endorsement of the Bill; the person is whose name the Bill is transferred referred as Endorser and the person
who has transfer the bill in name of Endorser if called the Endorsee.
22. Fill in the blanks
a) Recording only _______ transactions are the main feature of Money Measurement Principle.
b) Under _____ concept assets are recorded at cost Base only.
c) ________ Concept says that a business organization will not be shut down in near future.
d) Under the _______Concept the both debit and credit should be equal in total amount.
Ans. a) Financial
b) Financial
c) Going Concern Concept
d) Dual Aspect Concept.