Book Recommended by author : ULTIMATE BOOK OF ACCOUNTANCY (By Dr.

Vinod Kumar, Vishvas Publications)

CBSE TEST PAPER-03
Class - XI Accountancy (Introduction to Accounting)
Topic : Introduction to Accounting

1. What are the four main qualitative characteristics of accounting information? [1]

2. What is meant by Single Entry System or Accounts from Incomplete Records? [1]

3. What is meant by Double Entry System? [1]

4. Give any one advantage of Double Entry System. [1]

5. Give any one Limitation of Double Entry System. [1]

6. What is meant by Accounting Cycle? [2]

7. Accounting is known as the language of the business. Comment on this statement. [2]

8. What will you prepare to know the financial position of the business? [2]

9. Which statement is prepared to know the profitability of the business? [2]

10. What is the use of Accounting information to the financial institutions and bankers? [2]

11. What is the use of Accounting information to the Government? [2]

12. Accounting provides a legal evidence. Comment on this statement. [2]

13. Accounting information should be verifiable and free from personal bias. Name the [2]
qualitative characteristic of accounting information denoted by this statement.

14. What is meant by Qualitative information? [2]

15. What is the end product of financial accounting? [2]

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 Accountancy Challenge
Challenge : 1
Book Keeping is mainly concerned with:
(a) Recording of financial data
(b) Summarising the recorded data
(c) Analysis and Interpretation of data
(d) Preparation of Balance Sheet

Challenge : 2
In Accounts recording is made of:
(a) Non financial transactions
(b) Only cash transactions
(c) Only financial transactions
(d) Only credit transactions

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