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11th Standard English Medium Accountancy Subject Creative 3 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. Write short notes on
    a) Income
    b) Expense
    C) Revenue

  2. Explain the Process of Accounting cycle.

  3. State the different approaches in recording business transactions.

  4. 'Ledger is a principal Book of a Business' - Explain.

  5. From the following balances extracted from the books of Mr Kannan at trader on automobiles, prepare trial balance as on 31st March 2017.

       Rs    Rs
     Cash ih hand   5,500   Direct expenses   5,000
     Discount received   300   Carriage outwards 3,500
     Creditors  15,000   Capital  45,000
     Buildings 50,000   Purchases 49,700
     Opening stock 6,000   Sales 59,000
  6. What are the features of a bill of exchange?

  7. What are the importance of cash book?

  8. Explain the differences arising due to errors in recording the entries

  9. Following errors are discovered in the Books of Sita Ram. Make the necessary entries to rectify them.
    (i) Purchases journal was Rs. 2,150.
    (ii) Rs. 500 received from K. Krishna was debited to his account.
    (iii) An amount of Rs. 3,000 withdrawn by the Proprietor of the firm for his personal use was posted to the Traveling expense account.
    (iv) An amount of Rs. 175 for a credit sale to R. Gopalan correctly entered in the sale book, has been debited to his account as Rs. 157.

  10. Write a short note on Machine hour rate method.

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