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Important Questions

Accounts from Incomplete Records

ICSE · Class 11 · Accountancy

Most important questions from Accounts from Incomplete Records for ICSE Class 11 Accountancy board exam 2026. MCQs, short answer, and long answer questions with marks.

55 questions32 flashcards5 concepts

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55 Questions·
multiple choicemultiple correct

Sample Questions

1multiple choice
3 marks

Accounts from incomplete records: Opening capital is ₹2,50,000. Profit for the year is ₹80,000. Drawings during the year are ₹30,000 and no additional capital was introduced. What is the closing capital?

Show answer

₹3,00,000

Profit = Closing capital + Drawings - Additional capital - Opening capital. So ₹80,000 = Closing capital + ₹30,000 - ₹2,50,000. Therefore Closing capital = ₹3,00,000.

2multiple choice
3 marks

Accounts from incomplete records: A proprietor has closing capital ₹1,05,000, opening capital ₹80,000, and drawings ₹12,000. Additional capital introduced was ₹20,000. What is the profit for the year?

Show answer

₹17,000

Adjusted closing capital = ₹1,05,000 + ₹12,000 - ₹20,000 = ₹97,000. Profit = ₹97,000 - ₹80,000 = ₹17,000.

3multiple choice
3 marks

Accounts from incomplete records: On 1 April 2013, capital was ₹8,000. On 31 March 2014, capital was ₹10,000. During the year, drawings were ₹1,000 and additional capital introduced was ₹2,000. What was the profit for the year?

Show answer

₹1,000

Profit = Closing capital + Drawings - Additional capital - Opening capital = ₹10,000 + ₹1,000 - ₹2,000 - ₹8,000 = ₹1,000.

4multiple choice
3 marks

Accounts from incomplete records: A trader has opening capital ₹90,000, closing capital ₹1,38,000, drawings ₹17,000, and profit ₹25,000. What is the additional capital introduced?

Show answer

₹6,000

Profit = Closing capital + Drawings - Additional capital - Opening capital. So ₹25,000 = ₹1,38,000 + ₹17,000 - Additional capital - ₹90,000. Therefore Additional capital = ₹6,000.

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Frequently Asked Questions

What are the important topics in Accounts from Incomplete Records for ICSE Class 11 Accountancy?
Accounts from Incomplete Records covers several key topics that are frequently asked in ICSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Accounts from Incomplete Records — ICSE Class 11 Accountancy?
Understand the core concepts first, then work through the 55 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
How many important questions are there in Accounts from Incomplete Records?
There are 55 practice questions available for Accounts from Incomplete Records. These cover multiple question types including MCQs, short answer, and long answer questions.

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