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Accountancy · Class 12 Commerce

Ch 14Use of Spreadsheet in Business Applications — Class 12 Accountancy, concept-first.

Every question solved the concept-first way: concept → why this formula → step-by-step.

10

Q&A

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Concepts

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Key concepts

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Components of Payroll Accounting

Payroll involves earnings such as basic pay, dearness allowance and other allowances, and deductions such as provident fund, professional tax and advances. Understanding these components is necessary to design the correc…

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Questions & Answers

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+Sample & Board questionsi10 questions
  1. Q1Which of the following is not a component of Payroll statement? (a) D.A. (b) D.B. (c) H.R.A. (d) P.F.Preview
  2. Q2Arun Traders took a loan of ₹ 1,00,000 for 24 months from SBI @ 12% interest for that period. (a) Identify the financial function used for p…Preview
  3. Q3Which among the following financial function is used for calculating straight line method of depreciation ? (a) SLN (b) DB (c) PMT (d) PVPreview
  4. Q4Write the equation to calculate Gross Salary and Net Salary, if B.P. (Basic Pay), DA, HRA and PF are given in a payroll statement.Preview
  5. Q5Net Pay = ________. (a) Gross Pay – Total Deductions (b) Gross Pay + Total Deductions (c) Basic Pay + DA (d) Basic Pay + DA + HRAPreview
  6. Q6Classify the following Payroll components into Earnings and Deductions : Basic pay HRA TDS PF DA Professional taxPreview
  7. Q7The function used for the preparation of Loan repayment schedule in LibreOffice Calc is _____ . (a) DB (b) PMT (c) SLN (d) PVPreview
  8. Q8Complete the Payroll statement given below by writing the formula to calculate the (a) DA, (b) Gross pay, (c) Total deductions and (d) Net P…Preview
  9. Q9The function used for preparing loan repayment schedule is called ______. (a) RATE T (b) PV (c) PMT (d) ACCRINPreview
  10. Q10State the earnings components of payroll.Preview