Find here the NCERT Book Multiple Choice Questions from Class 12 Accounting book with Answers Pdf free download as per CBSE new exam pattern. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Multiple Choice Questions of Class 12 Accounting. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.
Q1. Which of the following is prepared to find out the income of a trading concern?
A. Receipts and Payments a/c
B. Income and Expenditure a/c
C. Profit and Loss a/c
D. Balance Sheet.
C. Profit and Loss a/c
Q2. If Income is Rs.16,000 and deficit debited to Capital Fund is Rs.4,300 then Expenditure is:
A. 16,000
B. 4,300
C. 20,300
D. None of these
C. 20,300
Q3. The Main purpose of Not-for- Profit organisation is :
A. To earn profit
B. to serve the society
C. To improve the economy
D. None of the above.
B. to serve the society
Q4. If 10% Interest on Investment appearing in the Receipts side is Rs.7000, then the value of investment will be:
A. Rs.1,00,000
B. 70,000
C.56,000
D.49,000
B. 70,000
Q5. Entrance fees received amounted to Rs.50,000. In this 25% is to be capitalized. Mention the amount to be shown in income side of Income and Expenditure account:
A.12,500
B.13,200
C.50,000
D. 37,500
D. 37,500
Q6. Subscription outstanding for the year 2018-19 is Rs.2500. Subscription outstanding for the year 2017-18 was Rs.5000 out of which Rs.3000 were received during the year 2018-19. The outstanding subscription to be shown in the Income and expenditure for current year 2018-19 is :
A.Rs. 500
B. Rs.1000
C. Rs.2500
D. Rs.3000
A.Rs. 500
Q7. Cash received by converting an asset into cash is reflected in:
(a) Conversion A/c
(b) Receipts and Payments A/c
(c) Contract A/c
(d) Suspense A/c
(b) Receipts and Payments A/c
Q8. If the credit side of Receipts and Payments A/c exceeds the debit side, the balance represents:
(a) Bank charges
(b) Commission
(c) Bank overdraft
(d) Interest
(c) Bank overdraft
Q9. No cash transaction will be excluded from:
(a) Balance Sheet
(b) Profit & Loss A/c
(c) Receipts and Payments
(d) Income and Expenditure A/c
(c) Receipts and Payments
Q10. In Receipts and Payments A/c, cash in hand or at the bank is put on:
(a) Credit side
(b) Left-hand side
(c) Right-hand side
(d) None of these
(b) Left-hand side
Q11. The task of preparing Income and Expenditure A/c and the Balance Sheet commences after the preparation of the:
(a) Trial Balance
(b) Profit and loss A/c
(c) Trading A/c
(d) Cash A/c
(d) Cash A/c
Q12. In Income and Expenditure A/c all revenue expenses are entered on:
(a) Assets side
(b) Left-hand side
(c) Liabilities side
(d) Right-hand side
(b) Left-hand side
Q13. In the Income and Expenditure Account all revenue receipts are entered on:
(a) Assets side
(b) Left-hand side
(c) Right-hand side
(d) Liabilities side
(c) Right-hand side
Q14. In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:
(a) Liabilities side of the Balance Sheet
(b) Debit side the Income and Expenditure Account
(c) Credit side of the Income and Expenditure Account
(d) Assets side of the Balance Sheet
(b) Debit side the Income and Expenditure Account
Q15. All receipts from sale of consumable items are treated as:
(a) Capital Receipts
(b) Revenue Receipts
(c) Both (a) and (b)
(d) None of these
(b) Revenue Receipts
Q16. Capital fUnd is calculated:
(a) Income-Expenditure
(b) Assets Liabilities
(c) Capital + Liabilities
(d) None of these
(b) Assets Liabilities
Q17. Subscription redeved in advance during the current year is:
(a) An income
(b) An Asset
(c) A liability
(d) None of these
(c) A liability
Q18. Balance of Income and Expenditure Account shows:
(a) Cash in hand
(b) Capital Fund
(c) Net Profit
(d) Excess of Income over Expenditure or Vice Versa
(d) Excess of Income over Expenditure or Vice Versa
Q19. Property received as a result of the will of the deceased person is called:
(a) Legacy
(b) Honorarium
(c) Donation
(d) Subscription
(a) Legacy
Q20. Receipts and Payments Account usually indicates:
(a) Surplus
(b) Capital Fund
(c) Debit Balance
(d) Credit Balance
(c) Debit Balance
Accountancy MCQ Class 12 Part 1 and Accounts MCQ Class 12 Part 2
- Chapter 1: Accounting for Not for Profit Organisation Class 12 MCQ
- Chapter 2: Accounting for Partnership: Basic Concepts Class 12 MCQ
- Chapter 3: Reconstitution of Partnership Firm: Admission of a Partner Class 12 MCQ
- Chapter 4: Reconstitution of Partnership Firm: Retirement / Death of a Partner Class 12 MCQ
- Chapter 5: Dissolution of a Partnership Firm Class 12 MCQ
- Chapter 6: Accounting for Share Capital Class 12 MCQ
- Chapter 7: Issue and Redemption of Debentures Class 12 MCQ
- Chapter 8: Financial Statements of a Company Class 12 MCQ
- Chapter 9: Analysis of Financial Statements Class 12 MCQ
- Chapter 10: Accounting Ratios Class 12 MCQ
- Chapter 11: Cash Flow Statement Class 12 MCQ
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