Assam Ahsec Class 11 Accountancy — Real Previous-Year Papers

Ledger is a book of ___ in Accounting. (a) all non-cash transactions (b) secondary entry (c) original entry (d) all cash transactions

Return of goods by a customer is recorded in (a) purchase book (b) sales book (c) sales return book (d) purchase return book

Credit balance of the Bank A/c in the cashbook shows (a) overdraft (b) cash deposited into our bank (c) cash is withdrawn from the bank (d) None of the above

Drawings falls under (a) Personal A/c (b) Real A/c (c) Nominal A/c (d) None of the above

Bank Reconciliation Statement compares with a bank (a) cash payment journal (b) cash receipt journal (c) financial statement (d) cashbook

If the Trial Balance does not tally after many efforts, then the ___ is opened. (a) Purchase A/c (b) Suspense A/c (c) Sales A/c (d) None of the above

If wages paid for the installation of new machinery is debited to the Wages A/c, it is (a) Error of commission (b) Error of principle (c) Compensating error (d) Error of omission

How many methods are there for preparing a Trial Balance? (a) One (b) Three (c) Four (d) None of the above

The loss of sales of assets is (a) debited to Profit Loss A/c (b) reflected in Trial Balance credit side (c) reflected in Balance Sheet (d) debited to Trading A/c

Depreciation is charged on (a) Current Assets (b) Fixed Assets (c) both Current Assets and Fixed Assets (d) None of the above

Which of the following methods of depreciation is not recognized by Income-tax Law? (a) Straight-line method (b) Diminishing-balance method (c) Both SLM and DBM (d) None of the above

Choose the correct chronological order of ascertainment of the following profits from the Profit Loss A/c: (a) Operating Profit, Net Profit, Gross Profit (b) Operating Profit, Gross Profit, Net Profit (c) Gross Profit, Operating Profit, Net Profit (d) Gross Profit, Net Profit, Operating Profit

Direct expenses are entered in (a) Trading A/c (b) Profit Loss A/c (c) Balance Sheet (d) None of the above

Generally, incomplete records are maintained by (a) trader (b) society (c) company (d) government

Liabilities and assets amount Rs. 50,000 and Rs. 78,000 respectively. The difference amount will represent (a) creditors (b) debtors (c) profit (d) capital

Incomplete record mechanism of Book-keeping is (a) scientific (b) unscientific (c) unsystematic (d) Both (a) and (b)

The Trading and Profit Loss A/c is prepared under (a) summarizing (b) recording (c) classifying (d) analysis and interpretation

Which of the following statements is correct? (a) Book-keeping is a part of Accounting. (b) Accounting is a part of Book-keeping. (c) The terms 'Book-keeping' and 'Accounting' can be used interchangeably. (d) Book-keeping is not a part of Accounting.

A liability arises because of (a) credit transaction (b) cash transaction (c) both cash and credit transactions (d) None of the above

Which of the following is not the qualitative features of Accounting? (a) Completeness (b) Reliability (c) Understandability (d) Relevance

The pioneer of Accounting is (a) Arthur Field (b) Gitman (c) William Pickles (d) Luca Pacioli

Which of the following accounts will be credited if machinery is purchased for cash? (a) Capital A/c (b) Fixed Assets A/c (c) Machinery A/c (d) Cash A/c

Amortization refers to writing off (a) depleting assets (b) wasting assets (c) intangible assets (d) fictitious assets

A person who owes money to the firm is called: (a) debtor (b) owner (c) creditor (d) None of the above

Out of the following, which is not a provision? (a) Provision for Doubtful Debt (b) Provision for Discount on Debtors (c) Dividend Equalization Reserve (d) Provision for Depreciation

The term 'Financial Statement' covers (a) Profit Loss Statement (b) Balance Sheet and Profit Loss Statement (c) Balance Sheet and Profit Loss Appropriation A/c (d) All of the above

How would revenue from sale of goods and services be classified? (a) Operating outflow (b) Operating inflow (c) Investing inflow (d) Financing inflow

Which of the following would not affect Bank Reconciliation Statement? (a) Dishonoured cheque (b) Discount received (c) Bank interest (d) Cheque not presented

Overdraft means ___ balance of cashbook. (a) closing (b) debit (c) opening (d) credit

Rent paid is a (a) Personal A/c (b) Real A/c (c) Nominal A/c (d) Liabilities A/c

Recording is made in Journal Proper of (a) opening entries (b) closing entries (c) adjustment entries (d) All of the above

The sales book is a part of (a) Journal (b) Trading A/c (c) Balance Sheet (d) Ledger

Purchase of furniture on credit is recorded in (a) Journal Proper (b) Sales Book (c) Cashbook (d) Purchase Book

Trial Balance is a/an (a) account (b) statement (c) information (d) None of the above

Write the meaning of Accounting.

What is GAAP?

Write two types of source document.

Mention two functions of Trial Balance.

Mention two functions of Provision for Bad and Doubtful Debt.

What is entity assumption?

Mention two types of transactions recorded in Journal Proper.

What is journalizing?

What is incomplete record?

What is capital expenditure?

Explain three features of petty cashbook.

Explain any three needs for preparing a Bank Reconciliation Statement.

Explain any three limitations of GAAP.

Mention any three distinctions between Cash Basis and Accrual Basis of Accounting.

What is meant by adjustment entry in Final Accounts? Give two examples of adjustment entry.

How is profit or loss ascertained by Statement of Affairs method in case of incomplete records?

Journalize the following transactions: 2024 April 1 - Commenced business with cash - Rs. 1,00,000 2024 April 3 - Purchased goods from Sarma Store - Rs. 15,000 on credit 2024 April 5 - Withdrawn cash from bank for office use - Rs. 5,500

Mention any three objectives of Goods and Services Tax.

Prepare Triple-column Cashbook with the following transactions: 2024 April 1 - Started business with cash - Rs. 2,50,000 April 2 - Deposited cash into bank - Rs. 1,00,000 April 3 - Bought goods by cheque - Rs. 1,500 April 4 - Received cheque from Mr. Gupta Rs. 5,000; Allowed him discount Rs. 250 April 12 - Paid into bank in cash Rs. 3,000; Paid into bank Mr. Gupta's cheque Rs. 5,000 April 25 - Drew from bank for office use - Rs. 2,000 April 30 - Paid wages in cash - Rs. 400

Pass Journal Entries to rectify the following errors: (i) Rs. 850 received from Saurav was debited to Gaurav A/c. (ii) Goods of Rs. 750 withdrawn for personal use was not recorded in the books. (iii) Rs. 380 being purchase return was posted to the debit of Purchase A/c.

Prepare a Bank Reconciliation Statement as on 31st December, 2023 from the following particulars: (i) Bank balance as per passbook - Rs. 5,240 (ii) Cheque issued but not presented for payment - Rs. 4,050 (iii) Cheques deposited but not entered in the passbook - Rs. 1,400 (iv) Bank debited Rs. 80 as bank charges. (v) Rs. 5,000 wrongly credited by bank in our passbook. (vi) Bank interest credited by bank - Rs. 250 (vii) Bills receivable Rs. 950 discounted but later dishonoured and no entry has been passed in the cashbook for this.

From the following Trial Balance of M/s Kalita Enterprise as on 31st December, 2023, prepare (a) Trading and Profit Loss A/c for the year ended 31st December, 2023; and (b) Balance Sheet as on that date: Particulars | Debit (Rs.) | Credit (Rs.) Bad Debts | 600 | Advertisement | 2,000 | Building | 18,000 | Drawings | 3,000 | Opening Stock | 8,400 | Sundry Debtors | 15,000 | Salaries | 12,400 | Bills Receivables | 6,000 | Rent | 3,500 | Carriage Inwards | 1,450 | Furniture | 4,950 | Wages | 6,400 | Purchases | 38,000 | Octroi Duty | 875 | Purchase Return | | 1,400 Provision for Doubtful Debt | | 400 Sales | | 66,275 Interest Received | | 400 Creditors | | 4,200 Outstanding Wages | | 900 Capital | | 45,000 Total | 1,20,575 | 1,20,575 Adjustments: (i) Salaries Prepaid - Rs. 400 (ii) Closing Stock - Rs. 9,750 (iii) Make Provision for Bad Debt - Rs. 500

Distinguish between (any two): (2½x2=5) (a) Capital Expenditure and Revenue Expenditure (b) Capital Receipts and Revenue Receipts (c) Capital Profit and Revenue Profit