MCQs of Financial Statements of Sole Proprietorship Class 11 with Answers for CBSE, ISC and State Boards The purpose of preparing final accounts is to ascertain: (a) Profit or loss(b) Capital(c) The value of assets(d) Profit or loss and financial…
Assertion Reason MCQs of Rectification of Errors Class 11 with Answers for CBSE, ISC and State Boards Assertion (A): ₹ 10,000 received from Disha an an advance against order were credited to Sales A In rectifying entry Sales A/c will…
MCQs of Rectification of Errors Class 11 with Answers for CBSE, ISC and State Boards Wages paid to Suresh ₹ 1,000 will be debited to: (a) Suresh A/c(b) Wages A/c(c) Personal A/c(d) Capital A/c Ans – (b) Wages paid to…
Assertion Reason MCQs of Provisions and Reserves Class 11 with Answers for CBSE, ISC and State Boards Assertion (A): Reserve is not a charge against profit. Reason (R): Reserve is an appropriation of profit. Options: (a) Assertion (A) and Reason…
MCQs of Provisions and Reserves Class 11 with Answers for CBSE, ISC and State Boards Provision is made: (a) To provide for known losses(b) To provide for unknown losses(c) To face the financial difficulties(d) To strengthen the financial position Ans…
