Introduction to Accounting - Model Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50

    Part A

    15 x 1 = 15
  1. Which one of the following is not a main objective of Accounting?

    (a)

    Systematic recording of transactions

    (b)

    Ascertainment of the profitability of the business

    (c)

    Ascertainment of the Financial position of the business

    (d)

    Solving tax disputes with tax authorities

  2. Financial position of a business is ascertained on the basis of ______________ .

    (a)

    Journal

    (b)

    Trial balance

    (c)

    Balance Sheet

    (d)

    Ledger

  3. _____________has rightly been termed as the language of the business.

    (a)

    Accounting

    (b)

    Book-keeping

    (c)

    Accountant

    (d)

    None of these

  4. _____________must be properly maintained to increase their productivity.

    (a)

    Liabilities

    (b)

    Assets

    (c)

    Debtors

    (d)

    None of these

  5. ____________of a business have to be repaid in due time.

    (a)

    Assets

    (b)

    Sales

    (c)

    Liabilities

    (d)

    None of these

  6. Double- entry book-keeping first emerged in Italy in the ___________ century.

    (a)

    13th

    (b)

    14th

    (c)

    18th

    (d)

    19th

  7. ________________use the accounting data in their bargaining strategies with the management.

    (a)

    Production department

    (b)

    Labour unions

    (c)

    Tax authorities

    (d)

    Researchers

  8. ________________of a firm has to make innumerable routine and strategic decisions while discharging its functions.

    (a)

    Book-keeping

    (b)

    Accounts

    (c)

    Management

    (d)

    All the above

  9. _____ ends up with the preparation of trading and profit and loss account and balance sheet.

    (a)

    Cost Accounting

    (b)

    Human Resource Accounting

    (c)

    Management Accounting

    (d)

    Financial Accounting

  10. Accounting cycle begins with recording of business transactions and ends with the preparation of ______________

    (a)

    Final accounts

    (b)

    Cost accounts

    (c)

    Financial accounts

    (d)

    Management accounts

  11. The activities of a business, which involve transfer of money or money's worth are called _______________

    (a)

    Transactions

    (b)

    Events

    (c)

    Accounting cycle

    (d)

    Costing

  12. External reporting is done for __________________

    (a)

    Journal

    (b)

    Trial balance

    (c)

    Balance Sheet

    (d)

    Ledger

  13. The famous book "Arthasastra" was written by

    (a)

    Kautilya

    (b)

    Chandrakupta

    (c)

    Luco Pacioli

    (d)

    Batlibai

  14. Who developed the double - entry book - keeping system?

    (a)

    Batliboi

    (b)

    Luco pacioli

    (c)

    Grewal

    (d)

    Gupta

  15. 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

  16. Part B

    5 x 2 = 10
  17. Define accounting.

  18. List any two functions of accounting.

  19. Who are the parties interested in accounting information?

  20. What do you mean by solvency and Insolvency

  21. What is a Voucher?

  22. Part C

    5 x 3 = 15
  23. Explain the meaning of accounting

  24. Discuss in detail the importance of accounting

  25. Discuss the role of an accountant in the modern business world.

  26. What is the process of accounting?

  27. Write short notes on cash basis of accounting.

  28. Part D

    2 x 5 = 10
  29. Narrate the evolution of accounting

  30. Describe the informational needs of external users

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