Important Question paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 95

    Part-A

    Answer all the questions

    11 x 1 = 11
  1. _______________is provided with a complete picture of the liquidity, profitability and solvency aspects of the business.

    (a)

    Accounts

    (b)

    Transaction

    (c)

    Management

    (d)

    Book-keeping

  2. Accounting gives information on

    (a)

    The resources available

    (b)

    how the available resources have been employed

    (c)

    the results achieved by their use

    (d)

    All of the above

  3. The business is liable to the proprietor of the business in respect of capital introduced by the person according to

    (a)

    Money measurement concept

    (b)

    Cost concept

    (c)

    Business entity concept

    (d)

    Dual aspect concept

  4. The word ___________ refers to traditions or customs.

    (a)

    Accounting

    (b)

    Book keeping

    (c)

    Convention

    (d)

    None of these

  5. A list which contains balances of accounts to know whether the debit and credit balances are matched is___

    (a)

    Journal

    (b)

    Day book

    (c)

    Trial balance

    (d)

    Balance sheet

  6. The first step is recording the business transactions in ____________.

    (a)

    Subsidiary Books/Journal

    (b)

    Ledger

    (c)

    Balance Sheet

    (d)

    Trial balance

  7. _____ in duplicate is prepared in the name of the buyer when goods are returned

    (a)

    Credit note

    (b)

    Debit note

    (c)

    Both 'a' and 'b'

    (d)

    None of these

  8. On 1st January, 2018, Kumar draws a bill on Ramar for 3 months, its due date is

    (a)

    4th April, 2018

    (b)

    1st April, 2018

    (c)

    31st March, 2018

    (d)

    1st March, 2018

  9. Residual value of an asset means the amount that it can fetch on sale at the ____________of its useful life

    (a)

    Beginning

    (b)

    End

    (c)

    Middle

    (d)

    None

  10. Interest on bank deposits is

    (a)

    Capital receipt

    (b)

    Revenue receipt

    (c)

    Capital expenditures

    (d)

    Revenue expenditures

  11. Expand CAS

    (a)

    Common Application Software

    (b)

    Computerised Accounting System

    (c)

    Centralised Accounting System

    (d)

    Certified Accounting System

  12. Part-B

    Answer all the questions

    13 x 2 = 26
  13. 'Accounting is useful only to the owner of the business' - Do you agree?

  14. Who is Public Relation Officer? (PRO)

  15. What is Accountancy

  16. Is it possible for him to compare his business results with that of his competitors?

  17. State whether the balance of each of the following accounts should be placed in the debit or the Credit column of the trial balance.
    1) Bills receivable
    2) Opening Stock
    3) Land and Building
    4) Goodwill
    5) Carriage outwards
    6) Electricity Charges
    7) Reserve Fund
    8) Provision for Bad Debts.

  18. Distinguish between sales book and sales account.

  19. What are grace days?

  20. List out the various methods of depreciation.

  21. What is annuity method?

  22. From the following information, calculate the amount of depreciation and rate of depreciation under straight line method.
    Purchase price of machine Rs.2,00,000
    Expenses to be capitalised Rs.50,000
    Estimated residual value Rs.15,000
    Expected useful life 5 years

  23. State with reasons whether the following are capital or revenue or deferred revenue expenditure:
    i) Advertisement expenses amounted to Rs.10 crores to introduce a new product.
    ii) Expenses on freight for purchasing new machinery.
    iii) Freight and insurance on the new machinery and cartage paid to bring the new machinery to the factory.

  24. What is meant by deferred revenue expenditure?

  25. What is hardware?

  26. Part-C

    Answer all the questions

    6 x 3 = 18
  27. Why are the following parties interested in accounting information?
    (i) Investors
    (ii) Government

  28. What is the difference between cash transaction and credit transactions?

  29. Write a brief note on Accounting Standards.

  30. What is the need for accounting standards?

  31. What are the limitations of trial balance?

  32. State the various types of coding methods.

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