Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting
Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting is an online chapter test in the Bihar Board Class 11 Commerce pattern, covering Introduction to Accounting. Attempt it on SeatBeat with a timer like the real exam, then see a detailed solution for every question and your score and weak-topic analysis.
Topics in this test
| Topic | Questions |
|---|---|
| Introduction to Accounting | 30 |
Difficulty: 3 easy · 9 medium · 18 hard
Sample questions with answers
The first 5 questions of this free test.
Q1. A trader sold an old delivery van (a fixed asset) at a price higher than its book value, earning ₹8,000 extra. This ₹8,000 earned from a non-regular transaction is best described as a:
- A. Gain
- B. Revenue
- C. Income from sales
- D. Capital
Solution
Profit arising from an irregular or non-recurring transaction, such as sale of a fixed asset, is called a gain, not normal revenue.
Q2. A firm purchased a machine for ₹1,00,000 and also paid ₹5,000 as wages to workers. In accounting terms, how are these two correctly classified?
- A. Machine is expenditure (capital) and wages are an expense
- B. Both machine and wages are capital expenditure
- C. Both machine and wages are expenses
- D. Machine is an expense and wages are expenditure (capital)
Solution
Buying the machine gives benefit for many years, so it is capital expenditure; wages are the cost of earning current revenue, so they are an expense.
Q3. The assets of a business are ₹7,50,000 and its liabilities (excluding capital) are ₹2,50,000. The capital of the business will be:
- A. ₹5,00,000
- B. ₹7,50,000
- C. ₹2,50,000
- D. ₹10,00,000
Solution
Capital = Assets − Liabilities = ₹7,50,000 − ₹2,50,000 = ₹5,00,000.
Q4. Match the terms in List-I with their nature in List-II: List-I: (P) Debtors (Q) Creditors (R) Drawings List-II: (1) Reduces capital (2) Asset (3) Liability Choose the correct matching.
- A. P-2, Q-1, R-3
- B. P-3, Q-2, R-1
- C. P-2, Q-3, R-1
- D. P-1, Q-3, R-2
Solution
Debtors are assets (money to be received), creditors are liabilities (money to be paid), and drawings reduce the owner's capital.
Q5. Assertion (A): Accounting is called the 'language of business'. Reason (R): Accounting communicates the results of business operations to various interested users. Choose the correct option.
- A. Both A and R are true but R is not the correct explanation of A
- B. A is true but R is false
- C. A is false but R is true
- D. Both A and R are true and R is the correct explanation of A
Solution
A language is used to communicate; accounting communicates financial results to users, so the Reason correctly explains the Assertion.
Frequently asked questions
How many questions are in the Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting?
30 questions for 30 marks, to be answered in 20 minutes.
Is there negative marking in the Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting?
No — wrong answers are not penalised in this test.
Which topics does the Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting cover?
Introduction to Accounting (30 questions).
Is the Bihar Board Class 11 Commerce Accountancy · Ch 1: Introduction to Accounting free?
Yes — this test is free. Create a free SeatBeat account and attempt it online; you get the solutions and your score analysis after submitting.
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