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  • GCC Academy Class Xi Accountancy Test: Fundamentals of Accounting Max Marks: 25 Time: 60 Mins

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    Vinaya Venkat
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    1) This document provides a sample test for Class XI students on fundamentals of accounting, with 10 multiple-choice and descriptive questions worth a total of 25 marks to be completed within 60 minutes. 2) The questions cover defining key accounting terms like accounting and cash basis of accounting, identifying internal users of financial statements and why investors rely on them, writing about social responsibility accounting, stating objectives of accounting, and describing the functions and importance of accounting. 3) The final longer question asks students to describe the basic steps involved in the accounting process.

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    1) This document provides a sample test for Class XI students on fundamentals of accounting, with 10 multiple-choice and descriptive questions worth a total of 25 marks to be completed within 60 minutes. 2) The questions cover defining key accounting terms like accounting and cash basis of accounting, identifying internal users of financial statements and why investors rely on them, writing about social responsibility accounting, stating objectives of accounting, and describing the functions and importance of accounting. 3) The final longer question asks students to describe the basic steps involved in the accounting process.

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    Download as DOCX, PDF, TXT or read online from Scribd
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    4 views1 page

    GCC Academy Class Xi Accountancy Test: Fundamentals of Accounting Max Marks: 25 Time: 60 Mins

    Uploaded by

    Vinaya Venkat
    1) This document provides a sample test for Class XI students on fundamentals of accounting, with 10 multiple-choice and descriptive questions worth a total of 25 marks to be completed within 60 minutes. 2) The questions cover defining key accounting terms like accounting and cash basis of accounting, identifying internal users of financial statements and why investors rely on them, writing about social responsibility accounting, stating objectives of accounting, and describing the functions and importance of accounting. 3) The final longer question asks students to describe the basic steps involved in the accounting process.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    GCC ACADEMY

    CLASS XI

    ACCOUNTANCY TEST: FUNDAMENTALS OF ACCOUNTING

    MAX MARKS: 25

    TIME: 60 MINS

    Question No. 1 to 5 carry one mark each.

    Question No. 6 to 9 carry 3 marks each.

    Question No. 10 carry 8 marks.

    1. Define Accounting.
    2. Name any one internal user of financial statements.
    3. Why do investors rely on the financial statements of a company?
    4. Define Cash Basis of Accounting.
    5. Define the term “Voucher”.
    6. Write a short note on Social Responsibility Accounting.
    7. State any three objectives of Accounting.
    8. Describe the functions of Accounting based on Measurement, Decision Making and Control.
    9. Accounting is the basic necessity of all enterprises. Explain the importance of Accounting based
    on this statement.
    10. Describe the steps involved in Accounting briefly.

    ALL THE BEST

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