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TN 11th Accountancy Final Accounts of Sole Proprietors - II Sample Question Papers Study Material - QB365 Set A

Published on: 24/08/2026

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Std: 11th Standard - Accountancy

chapter: Final Accounts of Sole Proprietors - II - Sample Question Papers

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Questions:

Multiple Choice Question

50 x 1 = 50

If there is no existing provision for doubtful debts, provision created for doubtful debts is ______.

(a)

Debited to bad debts account

(b)

Debited to sundry debtors account

(c)

Credited to bad debts account

(d)

Debited to profit and loss account

Accrued interest on investment will be shown______.

(a)

On the credit side of profit and loss account

(b)

On the assets side of balance sheet

(c)

Both (a) and (b)

(d)

None of these

Closing stock is valued at ______.

(a)

Cost price

(b)

Market price

(c)

Cost price or market price whichever is higher

(d)

Cost price or net realisable value whichever is lower

Net profit is ______.

(a)

Debited to capital account

(b)

Credited to capital account

(c)

Debited to drawings account

(d)

Credited to drawings account

A prepayment of insurance premium will appear in ______.

(a)

The trading account on the debit side

(b)

The profit and loss account on the credit side

(c)

The balance sheet on the assets side

(d)

The balance sheet on the liabilities side

Accounting software is an example of _______.

(a)

System software

(b)

Application software

(c)

Utility software

(d)

Operating software

People who write codes and programes are called as _______.

(a)

System analysts

(b)

System designers

(c)

System operators

(d)

System programmers

TALLY is an example of _______.

(a)

Tailor-made accounting software

(b)

Ready-made accounting software

(c)

In-built accounting software

(d)

Customised accounting software

Which one of the following is not a method of codification of accounts?

(a)

Access codes

(b)

Sequential codes

(c)

Block codes

(d)

Mnemonic codes

10.

One of the limitations of computerised accounting system is _______.

(a)

System failure

(b)

Accuracy

(c)

Versatility

(d)

Storage

11.

An example of output device is _______.

(a)

Mouse

(b)

Printer

(c)

Scanner

(d)

Keyboard

12.

Which one is not a component of computer system?

(a)

Input unit

(b)

Output unit

(c)

Data

(d)

Central Processing Unit

13.

Customised accounting software is suitable for _______.

(a)

Small, conventional business

(b)

Large, medium business

(c)

Large, typical business

(d)

None of the above

14.

In accounting, computer is commonly used in the following areas:

(a)

Recording of business transactions

(b)

Payroll accounting

(c)

Stores accounting

(d)

All the above

15.

Residual value of an asset means the amount that it can fetch on sale at the ________of its useful life.

(a)

Beginning

(b)

End

(c)

Middle

(d)

None

16.

If the rate of depreciation is same, then the amount of depreciation under straight line method vis-à-vis written down value method will be ________.

(a)

Equal in all years

(b)

Equal in the first year but higher in subsequent years

(c)

Equal in the first year but lower in subsequent years

(d)

Lower in the first year but equal in subsequent years.

17.

Depreciation is to be calculated from the date when _______.

(a)

Asset is put to use

(b)

Purchase order is made

(c)

Asset is received at business premises

(d)

Invoice of assets is received

18.

Which method shall be efficient, if repairs and maintenance cost of an asset increases as it grows older.

(a)

Straight line method

(b)

Reducing balance method

(c)

Sinking fund method

(d)

Annuity method

19.

A depreciable asset may suffer obsolescence due to______.

(a)

Passage of time

(b)

Wear and tear

(c)

Technological changes

(d)

None of the above

20.

For which of the following assets, the depletion method is adopted for writing off cost of the asset?

(a)

Plant and machinery

(b)

Mines and quarries

(c)

Buildings

(d)

Trademark

21.

Depreciation is caused by ____.

(a)

Lapse of time

(b)

Usage

(c)

Obsolescence

(d)

a, b and c

22.

Under the written down value method of depreciation, the amount of depreciation is ____.

(a)

Uniform in all the years

(b)

Decreasing every year

(c)

Increasing every year

(d)

None of the above

23.

If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is ____.

(a)

Straight line method

(b)

Diminishing balance method

(c)

Annuity method

(d)

Insurance policy method

24.

Under straight line method, the amount of depreciation is ____.

(a)

Increasing every year

(b)

Decreasing every year

(c)

Constant for all the years

(d)

Fluctuating every year

25.

Which of the following errors will be rectified using suspense account?

(a)

Purchases returns book was undercast by Rs.100

(b)

Goods returned by Narendran was not recorded in the books

(c)

Goods returned by Akila 900 was recorded in the sales returns book as Rs.90

(d)

A credit sale of goods to Ravivarman was not entered in the sales book

26.

The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry?

(a)

Purchases account

(b)

Suspense account

(c)

Creditor account

(d)

None of the above

27.

A credit purchase of furniture from Athiyaman was debited to purchases account. Which of the following accounts should be debited while rectifying this error?

(a)

Purchases account

(b)

Athiyaman account

(c)

Furniture account

(d)

None of these

28.

Goods returned by Senguttuvan were taken into stock, but no entry was passed in the books. While rectifying this error, which of the following accounts should be debited?

(a)

Senguttuvan account

(b)

Sales returns account

(c)

Returns outward account

(d)

Purchases returns account

29.

Which of the following errors will not affect the trial balance?

(a)

Wrong balancing of an account

(b)

Posting an amount in the wrong account but on the correct side

(c)

Wrong totalling of an account

(d)

Carried forward wrong amount in a ledger account

30.

Wages paid for installation of machinery wrongly debited to wages account is an error of _______.

(a)

Partial omission

(b)

Principle

(c)

Complete omission

(d)

Duplication

31.

A transaction not recorded at all is known as an error of _______.

(a)

Principle

(b)

Complete omission

(c)

Partial omission

(d)

Duplication

32.

The difference in trial balance is taken to _______.

(a)

The capital account

(b)

The trading account

(c)

The suspense account

(d)

The profit and loss account

33.

Errors not affecting the agreement of trial balance are _______.

(a)

Errors of principle

(b)

Errors of overcasting

(c)

Errors of undercasting

(d)

Errors of partial omission

34.

Error of principle arises when _______.

(a)

There is complete omission of a transaction

(b)

There is partial omission of a transaction

(c)

Distinction is not made between capital and revenue items

(d)

There are wrong postings and wrong castings

35.

Goodwill is classified as _______.

(a)

A current asset

(b)

A liquid asset

(c)

A tangible asset

(d)

An intangible asset

36.

Current assets does not include _______.

(a)

Cash

(b)

Stock

(c)

Furniture

(d)

Prepaid expenses

37.

Salaries appearing in the trial balance is shown on the _______.

(a)

Debit side of trading account

(b)

Debit side of profit and loss account

(c)

Liabilities side of the balance sheet

(d)

Assets side of the balance sheet

38.

Drawings appearing in the trial balance is _______.

(a)

Added to the purchases

(b)

Subtracted from the purchases

(c)

Added to the capital

(d)

Subtracted from the capital

39.

Balance sheet shows the ________ of the business.

(a)

Profitability

(b)

Financial position

(c)

Sales

(d)

Purchases

40.

Bank overdraft should be shown _______.

(a)

In the trading account

(b)

Profit and loss account

(c)

On the liabilities side

(d)

On the assets side

41.

Carriage inwards will be shown _______.

(a)

In the trading account

(b)

In the profit and loss account

(c)

On the liabilities side

(d)

On the assets side

42.

Net profit of the business increases the ______.

(a)

Drawings

(b)

Receivables

(c)

Debts

(d)

Capital

43.

Balance sheet is ______.

(a)

An account

(b)

A statement

(c)

Neither a statement nor an account

(d)

None of the above

44.

Closing stock is an item of ______.

(a)

Fixed asset

(b)

Current asset

(c)

Fictitious asset

(d)

Intangible asset

45.

Pre-operative expenses are ______.

(a)

Revenue expenditure

(b)

Prepaid revenue expenditure

(c)

Deferred revenue expenditure

(d)

Capital expenditure

46.

Revenue expenditure is intended to benefit ______.

(a)

Past period

(b)

Future period

(c)

Current period

(d)

Any period

47.

Amount received from IDBI as a medium term loan for augmenting working capital ______.

(a)

Capital expenditures

(b)

Revenue expenditures

(c)

Revenue receipts

(d)

Capital receipt

48.

Interest on bank deposits is ______.

(a)

Capital receipt

(b)

Revenue receipt

(c)

Capital expenditures

(d)

Revenue expenditures

49.

Expenditure incurred Rs.20,000 for trial run of a newly installed machinery will be ______.

(a)

Preliminary expense

(b)

Revenue expenditure

(c)

Capital expenditure

(d)

Deferred revenue expenditure

50.

Amount spent on increasing the seating capacity in a cinema hall is ______.

(a)

Capital expenditure

(b)

Revenue expenditure

(c)

Deferred revenue expenditure

(d)

None of the above.

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Answers Key:

Multiple Choice Question

50 x 1 = 50

(d)
Debited to profit and loss account

(d)
Cost price or net realisable value whichever is lower

(b)
Credited to capital account

(b)
Application software

(d)
System programmers

(b)
Ready-made accounting software

(a)
Access codes

10.

(a)
System failure

11.

(b)
Printer

12.

13.

(b)
Large, medium business

14.

(d)
All the above

15.

(b)
End

16.

(b)
Equal in the first year but higher in subsequent years

17.

(a)
Asset is put to use

18.

(b)
Reducing balance method

19.

20.

(b)
Mines and quarries

21.

(d)
a, b and c

22.

(b)
Decreasing every year

23.

(b)
Diminishing balance method

24.

25.

(a)
Purchases returns book was undercast by Rs.100

26.

(b)
Suspense account

27.

28.

(b)
Sales returns account

29.

(b)
Posting an amount in the wrong account but on the correct side

30.

(b)
Principle

31.

(b)
Complete omission

32.

33.

(a)
Errors of principle

34.

35.

(d)
An intangible asset

36.

37.

(b)
Debit side of profit and loss account

38.

(d)
Subtracted from the capital

39.

(b)
Financial position

40.

41.

(a)
In the trading account

42.

(d)
Capital

43.

(b)
A statement

44.

(b)
Current asset

45.

(d)
Capital expenditure

46.

47.

(d)
Capital receipt

48.

(b)
Revenue receipt

49.

50.

(a)
Capital expenditure

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