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CBSE - Class 11 Accountancy Theory Base of Accounting Worksheet

Test Your Understanding - I

1.
A concept that a business enterprise will not be sold or liquidated in the near future is known as :
a. Going concern b. Economic entity c. Monetary unit d. None of the above
2.
When information about two different enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:
a. Verifiability b. Relevance c. Reliability d. None of the above
3.
During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept:
a. Conservation b. Matching c. Accounting period d. None of the above
4.
The primary qualities that make accounting information useful for decision-making are :
a. Relevance and freedom from bias b. Reliability and comparability c. Comparability and consistency d. None of the above
5.
During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept:
a. Conservation b. Matching c. Accounting period d. None of the above
6.
The primary qualities that make accounting information useful for decision-making are :
a. Relevance and freedom from bias b. Reliability and comparability c. Comparability and consistency d. None of the above
7.
When information about two different enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:
a. Verifiability b. Relevance c. Reliability d. None of the above
8.
A concept that a business enterprise will not be sold or liquidated in the near future is known as :
a. Going concern b. Economic entity c. Monetary unit d. None of the above
9.
When information about two different enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:
a. Verifiability b. Relevance c. Reliability d. None of the above
10.
The primary qualities that make accounting information useful for decision-making are :
a. Relevance and freedom from bias b. Reliability and comparability c. Comparability and consistency d. None of the above
11.
During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept:
a. Conservation b. Matching c. Accounting period d. None of the above
12.
A concept that a business enterprise will not be sold or liquidated in the near future is known as :
a. Going concern b. Economic entity c. Monetary unit d. None of the above
13.
When information about two different enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:
a. Verifiability b. Relevance c. Reliability d. None of the above
14.
A concept that a business enterprise will not be sold or liquidated in the near future is known as :
a. Going concern b. Economic entity c. Monetary unit d. None of the above
15.
During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept:
a. Conservation b. Matching c. Accounting period d. None of the above
16.
The primary qualities that make accounting information useful for decision-making are :
a. Relevance and freedom from bias b. Reliability and comparability c. Comparability and consistency d. None of the above

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