ACCOUNTANCY

CLASS XI
GROW "N" GRADES

CHAPTER 1: INTRODUCTION TO ACCOUNTANCY

WORKSHEET TEST 1 (TOTAL 20 MARKS)
MULTIPLE CHOICE QUESTIONS (EACH CARRY 1 MARKS)
1) The accounting process involves in recording:
A) Quantifiable economic event
B) Non quantifiable economic event
C) All of them
D) None of them
2) Identify the correct sequence of accounting Process
A) Communicating→Recording→Identifying
B) Recording→Communicating→Identifying
C) Identifying→communicating→recording
D) Identifying→recording→communicating

3) Financial accounting provides financial information to all of the following external users except:
A) Government agencies
B) Investors
C) Creditors
D) Managers

4) Bookkeeping mainly concerns with which part of accounting process?

A) Analysing
B) Preparing financial statements
C) Recording financial information
D) Auditing the books of accounts

5) Which branch of accountancy deals with presentation of financial information to take decision by
owner of entity?
A) Cost Accountancy
B) Financial Accountancy
C) Management Accountancy
D) None of them
Short Answer type Questions (3 Marks each)
1) Define Accounting? Write 3 functions of accounting?
2) Write 5 roles of accounting?
3) Describe qualitative characteristics of accounting?
4) Yash Ltd is a MNC situated in Delhi. Mr Yash CEO of the company decided to hold the
meeting to discuss about financial statements of last year with his management team (Mr.
Ram, Mr. Shyam, Mr Krishna). Mr Harshit, An Income tax officer approach the company to
enquire about position of company and for computing right tax liability. Mr. Advit, a
researcher, download the financial statement of the company and analyse future
performance of company’s share. Workers of Yash limited went on strike as they are
demotivated by no bonus inspite of fact that profits are shown in financial statements.
Explain Users of financial Statements using above case studies?
5) Highlight limitations of accounting?

CONTACT US FOR ONLINE OR OFFLINE CLASSES - ACCOUNTANCY BS ECONOMICS FOR CLASS XI & XII
Contact No. 8218254708
Email at growngrades@gmail.com
CONTACT US FOR ONLINE OR OFFLINE CLASSES - ACCOUNTANCY BS ECONOMICS FOR CLASS XI & XII
Contact No. 8218254708
Email at growngrades@gmail.com