Skip to main content
Super TutorResources
Chapter 16 of 28
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Practice Quiz

Basis of Accounting

ICSE · Class 11 · Accountancy

Practice quiz for Basis of Accounting — ICSE Class 11 Accountancy. MCQs and questions with answers to test your preparation.

60 questions28 flashcards5 concepts

Interactive on Super Tutor

Studying Basis of Accounting? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for practice quiz and more.

Try Super Tutor — Free

1,000+ Class 11 students started this chapter today

Quick Quiz: Basis of Accounting

0/4

Tap an answer to check it instantly. No sign-up needed for these 4.

1

A business earns income of Rs. 48,000 in cash and has cash expenses of Rs. 29,500 during a period. Under cash basis, what is the cash profit?

2

A landlord's rent of Rs. 8,000 is due but unpaid, and cash incomes are Rs. 35,000 with cash expenses of Rs. 20,000. Under accrual basis, what profit is earned if no other adjustments exist?

3

A professional receives Rs. 22,000 in cash and also earns Rs. 9,000 on credit in a period. Under cash basis, what income is recorded?

4

A merchant has sales on credit of Rs. 40,000 and sales in cash of Rs. 15,000. Under accrual basis, what is the total sales of the period?

60 Questions·
multiple choicemultiple correcttrue false

Sample Questions

1multiple choice
3 marks

A business records cash income of Rs. 60,000, cash expenses of Rs. 35,000, prepaid expenses of Rs. 2,500, and outstanding expenses of Rs. 4,500. Under cash basis, what profit is shown before any adjustments?

Show answer

Rs. 25,000

Under cash basis, only cash income and cash expenses are considered. Profit = 60,000 - 35,000 = Rs. 25,000. Prepaid and outstanding items are ignored.

2multiple choice
3 marks

A company earns Rs. 50,000 and incurs expenses of Rs. 32,000 during a period, but Rs. 5,000 of expenses are unpaid at period end. Under accrual basis, what profit is calculated?

Show answer

Rs. 13,000

Under accrual basis, unpaid expenses are still treated as expenses of the period when due. Total expenses = 32,000 + 5,000 = 37,000. Profit = 50,000 - 37,000 = Rs. 13,000.

3multiple choice
3 marks

A business has cash income of Rs. 42,000 and cash expenses of Rs. 16,000. It also has accrued income of Rs. 8,000 and prepaid expenses of Rs. 5,000. Under accrual basis, what is the profit?

Show answer

Rs. 29,000

Under accrual basis, total income = 42,000 + 8,000 = 50,000. Prepaid expenses are adjusted, so total expenses = 16,000 + 5,000 = 21,000. Profit = 50,000 - 21,000 = Rs. 29,000.

4multiple choice
3 marks

A firm records Rs. 70,000 cash receipts and Rs. 45,000 cash payments. Under cash basis, what is the cash profit?

Show answer

Rs. 25,000

Cash profit = cash receipts - cash payments = 70,000 - 45,000 = Rs. 25,000.

+56 more questions available

Practice All

Frequently Asked Questions

What are the important topics in Basis of Accounting for ICSE Class 11 Accountancy?
Basis of Accounting 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 Basis of Accounting — ICSE Class 11 Accountancy?
Understand the core concepts first, then work through the 60 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Basis of Accounting

All 28 chapters — ICSE Class 11 Accountancy Practice Quiz

For serious students

Get the full Basis of Accounting chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 11 Accountancy.

Try Super Tutor Free
Try the full chapter — Free