Start learning →

Class 11 Commerce — free MCQ practice

Choose from 148 questions across 3 subjects and 12 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

Start learning Class 11 Commerce with Quill →

Class 11 Commerce subjects

Economics (57)Accountancy (52)Business Studies (39)

Explore popular topics

BusinessnatureBank Reconciliation StatementDepreciation, Provisions and ReservesForms of Business OrganisationIndian Economy 1950-1990Introduction to StatisticsMeasures of Central TendencyTrial Balance and Rectification of ErrorsIndex NumbersTheorybaseIndian EconomyRecordingtransactions

Try a Class 11 Commerce question

The concept that treats the business as separate from its owner is theRead the answer and worked solution →According to the going-concern concept, a business is assumed toRead the answer and worked solution →Recording only transactions that can be expressed in money terms reflects theRead the answer and worked solution →'Anticipate no profit but provide for all possible losses' expresses the convention ofRead the answer and worked solution →

Worked practice questions

The concept that treats the business as separate from its owner is the

  1. going concern concept
  2. money measurement concept
  3. business entity concept
  4. dual aspect concept
Show answer and solution

Correct answer: C. business entity concept

The business entity concept treats the business and its owner as distinct the owner's personal transactions are kept out of the business books.

Open this question →

According to the going-concern concept, a business is assumed to

  1. sell all assets immediately
  2. continue operating for the foreseeable future
  3. close at the end of the year
  4. have unlimited capital
Show answer and solution

Correct answer: B. continue operating for the foreseeable future

Going concern assumes the enterprise will continue indefinitely, which justifies recording assets at cost and charging depreciation over their life.

Open this question →

Recording only transactions that can be expressed in money terms reflects the

  1. money measurement concept
  2. matching concept
  3. prudence concept
  4. accrual concept
Show answer and solution

Correct answer: A. money measurement concept

The money measurement concept records only monetary transactions non-monetary facts (e.g. staff morale) are excluded.

Open this question →

How to practise

  1. Choose a Class 11 Commerce question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.