Important Questions for CBSE Class 11 Accountancy

Important Questions for Class 11 Accountancy

Accounting is the procedure of communicating financial information about a company to stakeholders such as shareholders and management. Accountancy corresponds to the responsibilities of an accountant, who is responsible for keeping, inspecting, and interpreting financial records. Class 11 students who choose Commerce as their discipline get introduced to Accountancy. This will ensure that when they select their undergraduate courses, they will be able to retain and comprehend the knowledge gained. Students can now take advantage of important questions for class 11 Accountancy, which are present on the Extramarks platform.

Accountancy professionals have prepared important questions for class 11 Accountancy after thorough research. They are pretty helpful for students throughout their examinations. These important questions lay the groundwork for preparation for various board and other competitive examinations.

The important questions of accounts class 11 are prepared under the proper guidelines of NCERT textbooks. At Extramarks, we cover all of the important questions students need to prepare for class 11 and various competitive examinations.

Students can make the most of various resources on the Extramarks website and not just limit themselves to important questions for class 11 accountancy chapter wise. Students can access all materials for free, including NCERT book solutions, CBSE extra questions, CBSE sample papers, CBSE previous year’s question papers, etc. Our CBSE revision notes and solutions use exclusive information to make it simple and understandable for students.

Important Questions for Class 11 Accountancy Chapter Wise – Chapters Covered

The vast syllabus of class 11 Accountancy covers 13 chapters. These chapters may appear overwhelming to many students. The only way to excel in this subject is to practice. 

Below are the chapters from the NCERT textbook of Class 11 Accountancy: 

Accountancy class 11 important questions prove beneficial when students are organized and create a study schedule that allocates time for daily practice. Our specialists at Extramarks have prepared these important questions for class 11 Accountancy. There are various question kinds in this area, including objective type questions (fill in the blanks, true or false), multiple-choice questions (MCQs), and subjective type questions such as reacting in a few sentences and answering in-depth others. As a result, this section of important questions will assist you in memorizing key concepts and evaluating yourself in preparation for your exams.

Important Questions for Class 11 Accountancy- Weightage

The chapterwise marks distribution of CBSE 11th Accountancy chapter-wise is tabulated below:

Class 11 Accountancy Syllabus Term 1

Units Term – 1 (MCQ Based Question Paper) Marks
Part A: Financial Accounting-1 12
Unit-1 Theoretical Framework
Introduction to Accounting

Theory Base of Accounting
Unit-2 Accounting Process: 28
Recording Of Business Transactions,

Bank Reconciliation Statement,

Depreciation, Provisions And Reserves
Total Theory 40
Project Work (Part -1) 10

Class 11 Accountancy Syllabus Term 2

Units Term – 2 Marks
Part A 12
Unit-2 Accounting Process:
Accounting For Bills Of Exchange

Trial Balance And Rectification Of Errors
Unit-3, 4 Part B: Financial Accounting-II 28
Financial Statements Of Sole Proprietorship From Complete And Incomplete Records

Computers In Accounting
Total Theory 40
Project Work (Part -2) 10

Important Questions for Class 11 Accountancy Chapter-Wise Questions

Class 11 introduces Commerce disciples students to Accounting. The vast syllabus of class 11 Accountancy can be intimidating for some students. The way to become friendly with Accountancy is through practise. There are various concepts to learn, and the only way to do so is by revising constantly. It is advised that students keep learning and revise so that they do not make any mistakes when answering these questions.

Extramarks give you access to all the important questions for class 11 Accountancy prepared by professional Accountancy specialists. Students may click the chapter-wise questions and solutions below to check the important questions for class 11 Accountancy: 

  • Important Questions from Chapter 1: Introduction to Accounting
  • Important Questions from Chapter 2: Theory Base of Accounting 
  • Important Questions from Chapter 3: Recording of Transactions 1
  • Important Questions from Chapter 4: Chapter 4: Recording of Transactions 2
  • Important Questions from Chapter 5: Bank Reconciliation Statement
  • Important Questions from Chapter 6: Trial Balance and Rectifications of Errors
  • Important Questions from Chapter 7: Depreciation, Provisions and Reserves
  • Important Questions from Chapter 8: Bill of Exchange
  • Important Questions from Chapter 9: Financial Statements 1
  • Important Questions from Chapter 10: Financial Statements 2
  • Important Questions from Chapter 11: Accounts from Incomplete Records
  • Important Questions from Chapter 12: Applications of Computer in Accounting
  • Important Questions from Chapter 13: Computerised Accounting System

Important questions for class 11 Accountancy are beneficial for students during their final revision. Register with Extramarks and make the most of these solved questions to obtain exclusive updates and information about forthcoming examinations.

Important Questions for Class 11 Accountancy – Types of Questions

According to CBSE‘s recent guidelines, the current exam paper format for Class 11 Accountancy is as follows:

  • There will be 12 questions in the paper
  • Question numbers 1 to 4 are short answer type questions carrying two marks each
  • Question numbers 5 to 8 are also short answer type questions carrying three marks each
  • Question numbers 9 to 12 are long answer type questions carrying five marks each

Benefits of Solving Important Questions for Class 11 Accountancy

The important questions for class 11 Accountancy will be quite beneficial for the students in their upcoming examinations for the following reasons:

  • Important questions for class 11 Accountancy section help the students comprehend the key concepts.They also help them gain accuracy, confidence, preparation analysis, etc.
  • Having important questions on your hand will ensure the extra practice of concepts and time management skills.
  • Revising the important questions helps boost confidence in the students’ minds.

CBSE Class 11 Accountancy Important Questions

Chapter 1 - Introduction to Accounting

Chapter 2 - Theory Base of Accounting

Chapter 3 - Recording of Transactions – 1

Chapter 4 - Recording of Transactions II (Financial Accounting – I)

Chapter 5 - Bank Reconciliation Statement

Chapter 6 - Trial Balance and Rectification of Errors

Chapter 7 - Depreciation, Provisions & Reserves

Chapter 8 - Bill of Exchange

Chapter 9 - Financial Statements – 1

Chapter 10 - Financial Statements 2

Chapter 11 - Accounts from Incomplete Records

Chapter 12 - Applications of Computers in Accounting

Chapter 13 - Computerised Accounting System

FAQs (Frequently Asked Questions)

1. What questions are important in class 11 Accountancy?

From an examination standpoint, each chapter in Class 11 Accountancy is important. The current marks allocation for Class 11 Accountancy – Unit-by-Unit is listed below:

Part A: Financial Accounting I 

Unit-1: Theoretical Framework – 12 Marks

40 marks for Unit 2: Accounting Process

Part B: Financial Accounting II 

Unit-3: Financial Statements of a Sole Proprietorship Based on Complete and Incomplete Records – 20 Marks

Unit 4: Computers in Accounting for 8 marks

2. State some advantages of Accounting.

Some advantages of Accounting are:

  • Accounting keeps a complete and scientific record of all financial transactions throughout a firm’s or entity’s accounting period.
  • Financial Condition – Financial statements such as the balance sheet and profit and loss statements provide information about an entity’s financial position and performance.
  • Year-to-Year Comparison – For cost, revenue, and profit items, financial data from one year may be compared to data from prior years. It is possible to compare not just the same object but also distinct entities from previous years.

3. Write a short note on the first chapter of the NCERT textbook of class 11 Accountancy.

Introduction to Accounting- Meaning and Objectives is the first chapter in Class 11 Accountancy. The chapter opens with a quick overview of accounting, followed by a discussion of the many parts of accounting. Following that, accounting principles are explained, including assets, liabilities, and owner’s equity. The objectives, characteristics, branches, and accounting steps are then thoroughly discussed. The distinction between accounting and bookkeeping is also explained in this chapter. The chapter finishes with a discussion of accounting’s limits and benefits.

4. How can we pass the Accountancy exam?

First and foremost, review the most recent syllabus, marking scheme, and exam pattern in order to pass the Class 11 Accountancy exam. To discover the most important parts of the syllabus, look at past years’ question papers. First, prepare the units with higher weightage. Extramarks’ Important Questions for Class 11 Accountancy will be beneficial here. You may cover the most important topics of the syllabus and pass the Accountancy examination by preparing these questions.