11th Accountancy - Book Back Answers - Unit 3 - English Medium Guides

 

 

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Tamil Nadu Board 11th Standard Accountancy - Unit 3 : Book Back Answers and Solutions

    This post covers the book back answers and solutions for Unit 3 – 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 3 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 3: Books Of Prime Entry

I. Multiple Choice Questions.

1. Accounting equation signifies
(a) Capital of a business is equal to assets
(b) Liabilities of a business are equal to assets
(c) Capital of a business is equal to liabilities
(d) Assets of a business are equal to the total of capital and liabilities
Answer Key:
(d) Assets of a business are equal to the total of capital and liabilities

2. 'Cash withdrawn by the proprietor from the business for his personal use' causes
(a) Decrease in assets and decrease in owner's capital
(b) Increase in one asset and decrease in another asset
(c) Increase in one asset and increase in liabilities
(d) Increase in asset and decrease in capital
Answer Key:
(a) Decrease in assets and decrease in owner's capital

3. A firm has assets of ₹ 1,00,000 and the external liabilities of  ₹ 60,000. Its capital would be
(a) ₹1,60,000
(b) ₹60,000
(c) ₹ 1,00,000
(d) ₹ 40,000
Answer Key:
(d) ₹ 40,000

4. The incorrect accounting equation is
(a) Assets = Liabilities + Capital
(b) Assets Capital + Liabilities
(c) Liabilities = Assets + Capital
(d) Capital Assets – Liabilities
Answer Key:
(c) Liabilities = Assets + Capital

5. Accounting equation is formed based on the accounting principle of
(a) Dual aspect
(b) Consistency
(c) Going concern
(d) Accrual
Answer Key:
(a) Dual aspect

6. Real account deals with
(a) Individual persons
(b) Expenses and losses
(c) Assets
(d) Incomes and gains
Answer Key:
(c) Assets

7. Which one of the following is representative personal account?
(a) Building A/c
(b) Outstanding salary A/c
(c) Mahesh A/c
(d) Balan & Co
Answer Key:
(b) Outstanding salary A/c

8. Prepaid rent is a
(a) Nominal A/c
(b) Personal A/c
(c) Real A/c
(d) Representative personal A/c
Answer Key:
(d) Representative personal A/c

9. Withdrawal of cash from business by the proprietor should be credited to
(a) Drawings A/c
(b) Cash A/c
(c) Capital A/c
(d) Purchases A/c
Answer Key:
(b) Cash A/c

10. In double entry system of book keeping, every business transaction affects
(a) Minimum of two accounts
(b) Same account on two different dates
(c) Two sides of the same account
(d) Minimum three accounts
Answer Key:
(a) Minimum of two accounts

II. Very Short Answer Questions.

a

III. Short Answer Questions.

a

IV. Answer the following questions in about a page.

a