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11th Accountancy - Term 1 Model Question Paper Sep-21 , 2019

  

11th Accountancy - Term 1 Model Question Paper

Term 1 Model Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 02:00:00 Hrs
Total Marks : 60
    6 x 1 = 6

  1. The root of financial accounting system is ______.

    (a)

    Social accounting

    (b)

    Stewardship accounting

    (c)

    Management accounting

    (d)

    Responsibility accounting

  2. The profounder of double entry system of book-keeping is ___________

    (a)

    J. R. Batlibai

    (b)

    Luca Pacioli

    (c)

    Old Kesal

    (d)

    Menhar

  3. A firm has assets of Rs.1,00,000 and the external liabilities of Rs.60,000. Its capital would be  

    (a)

    Rs.1,60,000

    (b)

    Rs.60,000

    (c)

    Rs.1,00,000

    (d)

    Rs.40,000

  4. J. F. means ___________

    (a)

    Ledger page number

    (b)

    Journal page number

    (c)

    Voucher number

    (d)

    Order number

  5. Trial balance is a_____

    (a)

    Statement

    (b)

    Account

    (c)

    Ledger

    (d)

    Journal

  6. Closing entries are recorded in _____

    (a)

    Cash book

    (b)

    Ledger

    (c)

    Journal proper

    (d)

    Purchases book

    7. 5 x 1 = 5

  7. IFRS

    8. (1)

    lndustrial Pinnncinl Reporting Standards

  8. Revenue account

    9. (2)

    Rent received

  9. Bill of exchange

    10. (3)

    Bank Reconciliation statement

  10. Discount allowed

    11. (4)

    Creditor

  11. BRS

    12. (5)

    Purchase book
    3 x 2 = 6

  12. (a) Cost concept
    (b) Dual aspect concept
    ( c) Matching concept
    (d) Book Keeping

  13. a) Cash receipt
    (b) Invoice
    (c) Debit note
    (d) Bad debt

  14. (a) Postage
    (b) Stationery
    (c) Carriage
    (d) Suspense account

    15. 2 x 1 = 2

  15. (a) IFRS - International Financial Reporting Standards
    (b) ICAI International Chartered Accountants of India
    ( c) ASB - Accounting Standing Board
    (d) IASB - Intemating Accounting State Board

  16. (a) Purchases book - Cash purchase of goods
    (b) Sales book - Credit sale of goods
    (c) Bills receivable book - Bills accepted
    (d) Bills payable book - Bills drawn

    17. 2 x 2 = 4

  17. (a) Periodicity - Particular period  concept
    (b) Objective evidence concept - Cash receipts
    (c) Dual aspect Capital concept - Liabilities = Assets
    (d) Convention of materiality concept - Nature of infonnation

  18. (a) Drawer - Creditor
    (b) Drawee - Debtor
    (c) Due date - Days of grace
    (d) Endorsement - Trade discount

    19. 6 x 2 = 12

  19. List any two functions of accounting.

  20. Explain the various accounting concepts.

  21. What is real account?

  22. Prepare Furniture A/c from the following transactions

    2016 Jan.   Rs.
    1 Furniture in hand 2,000
    1 Purchased furniture for cash  4,000
    30 Sold Furniture 400

  23. Give the format of trial balance.

  24. What is simple cash book?

    25. 5 x 3 = 15

  25. Discuss in detail the importance of accounting

  26. What are the three different types of personal accounts?

  27. Explain the procedure for balancing a ledger account.

  28. The following balances are extracted from the books of Murali, as on 31st March, 2017. Prepare trial balance.

    Particulars Rs Particulars Rs
    Sales 35,000 Audit fees 1,000
    Interest paid 350 Octroi duty 8,000
    Returns inward 2,500 Land 90,000
    Depreciation 2,400 Capital 60,000
    Office rent 2,000 Bank overdraft 11,250

  29. What is meant by the term "cheque not yet presented?"

    30. 2 x 5 = 10

  30. What will be the effect of the following on the accounting equation?
    (a) Sunil started business with Rs.1,40,000 cash and goods worth Rs.60,000
    (b) Purchased furniture worth Rs.20,000 by cash
    (c) Depreciation on furniture Rs.800
    (d) Deposited into bank Rs.40,000
    (e) Paid electricity charges through net banking Rs.500
    (f) Sold goods to Ravi costing Rs.10,000 for Rs.15,000
    (g) Goods returned by Ravi Rs.7,500

  31. Arun is a trader dealing in automobiles. For the following transactions, pass journal entries for the month of January, 2018.

    Jan. Rs
    1. Commenced business with cash 90,000
    2. Purchased goods from X and Co. on credit 40,000
    3. Accepted bill drawn by X and Co. 20,000
    4. Sold goods to D and Co. on credit 10,000
    5. Paid by cash the bill drawn by X and Co. 5,000
    6. Received cheque from D and Co. in full settlement
    and deposited the same in bank.    		 9,000
    7. Commission received in cash 5,000
    8. Goods costing Rs. 40,000 was sold and cash received 50,000
    9. Salaries paid in cash 4,000
    10. Building purchased from Kumar and Co. for Rs. 1,00,000 and an advance
    of Rs. 20,000 is given in cash.    		  

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