Question Bank

Class –XI Accountancy

Chapter - I
Introduction to Accounting
[1 Mark]

1. Define Accounting. OR What is Accounting?

2. Give two functions of accounting?
3. State any two advantages of Accounting.
4. What is end product of Financial Accounting?
5. Describe any two branches of Accounting?
6. Who are internal users of accounting information?
7. What is Book-Keeping?
8. Name the qualitative characteristics of accounting information.
9. What is end product of financial accounting?
10. Which accounting book is known as "Principal Book?

[2 Mark]

11. Distinguish between Book-Keeping and Accounting. (only two)

12. What is Accounting cycle?
13. Describe the primary function of Accounting?
14. What is meant by cost Accounting?
15. What is meant by Management Accounting?
16. What are the limitations of accounting? (Any two)
17. Define “Accounting” Or what is “Accountancy”?
18. What is Capital Expenditure? Give two examples?

[3 Mark]

19. Explain different branches of Accounting?

20. What is accounting? Describe its advantages?
21. State the various persons or groups interested in accounting information?
22. State the importance of Accounting?
23. Prove the accounting equation from the followings-

a) Started business with cash ₹ 50000 and goods ₹ 20000.

b) Purchased goods for cash ₹ 15000 and on credit for ₹ 10000.
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c) Goods costing ₹ 24000 sold at a profit of 333% .Half the payment received in cash.
d) Purchase furniture for household use ₹ 10000.