On 1st April, Ravi started business with cash $₹50,000$ and furniture $₹20,000$. On 5th April, he purchased goods worth $₹15,000$, paying $₹10,000$ in cash and the balance on credit. Based only on these transactions, which statement about the accounting equation is correct?

Capital remains $₹70,000$ and liabilities (creditors) are $₹5,000$

Capital becomes $₹85,000$ and liabilities are $₹15,000$

Capital remains $₹50,000$ and liabilities are $₹5,000$

Capital becomes $₹75,000$ and liabilities are nil

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CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I

CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I is an online chapter test in the CBSE Class 11 Commerce pattern, covering Recording of Transactions – I. 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.

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Negative marking

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Topics in this test

Topic	Subject	Questions
Recording of Transactions – I	Accountancy	30

Difficulty: 7 medium · 23 hard

Recording of Transactions – I MCQ questions with answers

The first 3 of 30 questions. Unlock the series for the rest, each with a solution.

Q1. On 1st April, Ravi started business with cash $₹50,000$ and furniture $₹20,000$. On 5th April, he purchased goods worth $₹15,000$, paying $₹10,000$ in cash and the balance on credit. Based only on these transactions, which statement about the accounting equation is correct?
1 अप्रैल को, रवि ने नकद ₹50,000 और फर्नीचर ₹20,000 के साथ व्यवसाय शुरू किया। 5 अप्रैल को, उसने ₹15,000 का माल खरीदा, जिसमें ₹10,000 नकद में चुकाए और शेष उधार पर। केवल इन लेन-देनों के आधार पर, लेखांकन समीकरण के बारे में कौन-सा कथन सही है?
- A. Capital becomes $₹85,000$ and liabilities are $₹15,000$ / पूंजी ₹85,000 हो जाती है और देयताएँ ₹15,000 हैं
- B. Capital remains $₹70,000$ and liabilities (creditors) are $₹5,000$ / पूंजी ₹70,000 ही रहती है और देयताएँ (लेनदार) ₹5,000 हैं
- C. Capital remains $₹50,000$ and liabilities are $₹5,000$ / पूंजी ₹50,000 ही रहती है और देयताएँ ₹5,000 हैं
- D. Capital becomes $₹75,000$ and liabilities are nil / पूंजी ₹75,000 हो जाती है और देयताएँ शून्य हैं
Solution
Starting capital = cash + furniture = $₹70,000$. Credit purchase of goods adds $₹5,000$ stock and $₹5,000$ creditors, but cash purchase only swaps cash for stock, so capital stays $₹70,000$ while total assets and liabilities both rise.
प्रारंभिक पूंजी = नकद + फर्नीचर = ₹70,000। माल की उधार खरीद से ₹5,000 स्टॉक और ₹5,000 लेनदार जुड़ते हैं, लेकिन नकद खरीद केवल नकद को स्टॉक से बदल देती है, इसलिए पूंजी ₹70,000 ही रहती है जबकि कुल संपत्तियाँ और देयताएँ दोनों बढ़ जाती हैं।
Q2. Three of the following are books of original entry (journals) while one is not. Identify the odd one out.
निम्नलिखित में से तीन मूल प्रविष्टि की पुस्तकें (जर्नल) हैं जबकि एक नहीं है। बेमेल को पहचानिए।
- A. Cash Book / रोकड़ बही
- B. Purchases Book / क्रय पुस्तक
- C. Sales Book / विक्रय पुस्तक
- D. Ledger / खाता-बही
Solution
The ledger is the book of final/secondary entry where accounts are prepared, whereas the cash book, purchases book and sales book are all special journals (books of original entry).
खाता-बही (Ledger) अंतिम/द्वितीयक प्रविष्टि की पुस्तक है जहाँ खाते तैयार किए जाते हैं, जबकि रोकड़ बही, क्रय पुस्तक और विक्रय पुस्तक सभी विशेष जर्नल (मूल प्रविष्टि की पुस्तकें) हैं।
Q3. Match the transaction in List-I with the account to be debited in List-II: List-I: (P) Rent paid in cash, (Q) Goods returned by a customer, (R) Interest received by cheque List-II: (1) Sales Return Account, (2) Bank Account, (3) Rent Account Select the correct matching:
सूची-I में दिए गए लेन-देन का सूची-II में नाम (debit) किए जाने वाले खाते से मिलान कीजिए: सूची-I: (P) नकद में चुकाया गया किराया, (Q) ग्राहक द्वारा लौटाया गया माल, (R) चेक द्वारा प्राप्त ब्याज सूची-II: (1) विक्रय वापसी खाता, (2) बैंक खाता, (3) किराया खाता सही मिलान चुनिए:
- A. P-1, Q-3, R-2
- B. P-3, Q-2, R-1
- C. P-2, Q-1, R-3
- D. P-3, Q-1, R-2
Solution
Rent paid debits Rent A/c (expense), goods returned by a customer debits Sales Return A/c, and interest received by cheque debits Bank A/c as the asset increases.
किराया चुकाने पर किराया खाता (व्यय) नाम होता है, ग्राहक द्वारा लौटाए गए माल पर विक्रय वापसी खाता नाम होता है, और चेक द्वारा प्राप्त ब्याज पर बैंक खाता नाम होता है क्योंकि परिसंपत्ति बढ़ती है।

Frequently asked questions

How many questions are in the CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I?

30 questions for 30 marks, to be answered in 20 minutes.

Is there negative marking in the CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I?

No — wrong answers are not penalised in this test.

Which topics does the CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I cover?

Recording of Transactions – I (30 questions).

Is the CBSE Class 11 Commerce Accountancy · Ch 3: Recording of Transactions – I free?

It is part of the CBSE Class 11 Commerce Test Series 2027 — Chapter-wise + Full Tests (24 tests, ₹199). You can first try Accountancy · Ch 1: Introduction to Accounting for free.

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