Financial Statements - I
Manipur Board · Class 11 · Accountancy
Most important questions from Financial Statements - I for Manipur Board Class 11 Accountancy board exam 2026. MCQs, short answer, and long answer questions with marks.
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Sample Questions
What is the primary purpose of a Balance Sheet?
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To show financial position at a specific date
A Balance Sheet provides a snapshot of a company's financial position, listing assets, liabilities, and capital at a specific point in time.
Which of the following is a Current Asset?
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Cash in hand
Current assets are those which can be converted to cash within one year, and cash in hand is the most liquid current asset.
What does Operating Profit represent?
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Profit before interest and tax
Operating Profit (EBIT) represents the profit earned through normal business operations, excluding financial and extraordinary items.
Which of the following is an example of Revenue Expenditure?
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Payment of monthly rent
Revenue expenditure involves costs incurred for day-to-day operations that benefit only the current accounting period.
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