11th Accountancy - Book Back Answers - Unit 12 - English Medium Guides

 

 

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Tamil Nadu Board 11th Standard Accountancy - Unit 12 : Book Back Answers and Solutions

    This post covers the book back answers and solutions for Unit 12 – Accountancy from the Tamil Nadu State Board 11th Standard textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Accountancy Unit 12 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 11 students! Prepare well and aim for top scores. Thank you!

Unit 12 : Final Accounts Of Sole Proprietors - I

I. Multiple Choice Questions.

1. Closing stock is an item of____________.
(a) Fixed asset
(b) Current asset
(c) Fictitious asset
(d) Intangible asset
Answer Key:
(b) Current asset

2. Balance sheet is________.
(a) An account
(b) A statement
(c) Neither a statement nor an account
(d) None of the above
Answer Key:
(b) A statement

3. Net profit of the business increases the_____________.
(a) Drawings
(b) Receivables
(c) Debts
(d) Capital
Answer Key:
(d) Capital

4. Carriage inwards will be shown
(a) In the trading account
(b) In the profit and loss account
(c) On the liabilities side
(d) On the assets side
Answer Key:
(a) In the trading account

5. Bank overdraft should be shown
(a) In the trading account
(b) Profit and loss account
(c) On the liabilities side
(d) On the assets side
Answer Key:
(c) On the liabilities side

6. Balance sheet shows the ________ of the business.
(a) Profitability
(b) Financial position
(c) Sales
(d) Purchases
Answer Key:
(b) Financial position

7. Drawings appearing in the trial balance is
(a) Added to the purchases
(b) Subtracted from the purchases
(c) Added to the capital
(d) Subtracted from the capital
Answer Key:
(d) Subtracted from the capital

8. Salaries appearing in the trial balance is shown on the
(a) Debit side of trading account
(b) Debit side of profit and loss account
(c) Liabilities side of the balance sheet
(d) Assets side of the balance sheet
Answer Key:
(b) Debit side of profit and loss account

9. Current assets does not include
(a) Cash
(b) Stock
(c) Furniture
(d) Prepaid expenses
Answer Key:
(c) Furniture

10. Goodwill is classified as
(a) A current asset
(b) A liquid asset
(c) A tangible asset
(d) An intangible asset
Answer Key:
(d) An intangible asset

II. Very Short Answer Questions.

a

III. Short Answer Questions.

a

IV. Answer the following questions in about a page.

a