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NLCS School Class XI Previous Year Question Papers : nlcsbhl.ac.in

School Name : New Look Central School (NLCS)
Exam : Summative Assessment (SA), Half Yearly Exam, Annual Exam
Subjects : Accountancy, Physics, English, Biology, Chemistry, Physical Ed., Economics, Computer , Maths, Business St., Political Science, Fine Arts
Class : XI
Years : 2014-15, 2015-16, 2016-17, 2017-18, 2018-19, 2019-20
Document Type : Previous Year Question Paper
Website : http://nlcsbhl.ac.in/the-academics/exam-question-paper/

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NLCS Class XI Exam Question Paper

New Look Central School Class XI Previous Year Question Paper.

Related / Similar Question Paper : NLCS School Class XII Previous Year Question Papers

Half Yearly Exam Question Paper

Year : 2019-20
Subject : Accountancy

Q.1 Accounting does not show the realizable value of business. It is a/an
(a) limitation of Accounting (b) advantage of Accounting (c) Both A and B (d) None of these

Q.2 A liability arises because of
(a) cash transactions (b) credit transactions (c) cash as well as credit transactions (d) None of these

Q.3 According to which of the following accounting concepts, even the proprietor of a business is treated as creditor to the extent of his capital
(a) Money Measurement Concept (b) Dual Aspect Concept (c) Cost Concept (d) Business Entity Concept

Q.4 On intra-state [I.e. within the state] purchase of goods, which of the following GST is levied
(a) CGST (b) SGST (c) CGST and SGST (d) SGST and IGST

Q.5 X commenced business on 1st April 2013 with a capital of 6,00,000. On 31st March 2014 his assets were worth 8,00,000 and liabilities 50,000. Find out his closing capital
(a) 7,50,000 (b) 2,00,000 (c) 5,50,000 (d) None of these

Q.6 Outstanding salary is
(a) Real Account (b) Personal Account (c) Nominal Account (d) None of these

Q.7 Accounting voucher is prepared from
(a) source voucher (b) Journal entry, (c) Both A and B (d) None of these

Q.8 On inter-state sale of goods, which of the following account is credited
(a) Output CGST (b) Output IGST (c) Input IGST (d) Output SGST

Q.9 Ledger is called a book of
(a) primary entry (b) secondary entry (c) final entry (d) None of these

Q.10 Mohit paid 9800 in settlement of his account of 10,000. Discount Allowed will be recorded in
(a) Cash Book (b) Journal Book (c) Both Cash Book and Journal (d) None of these

Q.11 The Sales Book
(a) Is a part of the Journal (b) Is a part of the Ledger (c) Is a part of the Balance Sheet (d) None of these

Q.12 If balance in the bank statement shows 3000 [Dr] and there are deposits of 800 not yet credited and unpresented cheques totaling 500 , the balance in the \cash Book should be
(a) 3300 (b) 2700 Cr (c) 4300 Cr (d) 1700 Dr.

Q.13 The preparation of Trial Balance helps in
(a) Judging the Financial Position (b) Locating Errors of All Types (c) Preparation of Final Accounts (d) None of these

Q.14 Journal records the transactions of the firm in a
(a) Analytical manner (b) Chronological Manner (c) Periodical manner (d) Summarized manner

Q.15 Trade Discount is deducted from the gross sales. Sales is recorded in the books of account at
(a) Gross Sales and Trade Discount separately (b) Net Sales Invoice (c) None of the above (d) Any of A and B

Q.16 When a firm maintains two-column Cash Book, it does not maintain
(a) Purchases Book (b) Journal Proper (c) Sales Book (d) Bank and Cash Account in the Ledger

Q.17 Error not shown by Trial Balance are
(a) Errors of Principle (b) Compensating Errors (c) Errors of Complete Omission (d) All of the above

Q.18 Which of the following will not be recorded in the books of account
(a) Sales of goods (b) Payment of salary (c) Quality of staff (d) Purchase of Goods

Q.19 IFRS are
(a) Rule based accounting standards (b) Principle based accounting standards (c) Partially rule based and partially principle based accounting standards (d) None of the above

Q.20 Double Accounting system owes its origin to
(a) Lucas Pacioli (b) Adam Smith (c) Kohler (d) Karl Marx

Q.21 Distinguish between Cash Basis and Accrual Basis of Accounting { Any Three}
OR
Discuss Cash and Accrual Basis of Accounting.

Q.22 Explain the following terms
[A]. Prepaid Expenses [B] Trade Receivable [C] Drawings
OR
Explain the following terms
[A] Trade payable [B] Capital [C] Accrued Income

Q.23 Explain : [1]Consistency Assumption [2]Business Entity Principle [3] Materiality Principle [4] Matching Principle OR [1] Going Concern Assumption [2] Accounting Period Principle [3] Prudence Principle [4] Duality Principal

Q.24 Explain Attributes of Accounting ? OR Explain Qualitative Characteristics of Accounting Information ?

Q.25 [A] Prepare Opening Entry from following balances
Creditor 15,000 ; Machine 40,000 ; Debtor 2,000; Capital 60,000; Bills Receivable 25,000; Cash 18,000; Bills Payable 25,000; Loan from Bank 12,000

[b] Find out cost of goods sold : Opening Stock 40,000; Purchases 1,00,000; Direct expenses 20,000 Closing Stock 30,000. Purchases Return 10,000

Q.26 Prepare an Accounting Equation from the following
1. Started business with cash 1,00,000 and Stock 20,000
2. Purchased goods for cash 20,000 and on credit 30,000
3. Sold goods for cash costing 10,000 and on credit costing 15,000 both at a profit of 20%
4. Salary paid 5,000 and Outstanding Rent 4,000

OR
Prepare an Accounting Equation from the following
1. Started business with cash 50,000 and Furniture 10,000
2. Purchased goods from Mohan Rs 30,000 and 10,000 paid immediately
3. Sold goods for cash costing 12,000 and on credit costing 10,000 both at a profit of 20%
4. Commission received 5,000 and Interest received in advance 2,000

Q.27 Prepare Trial Balance from the following information of Mohan Lala & Sons as on 31st March 2019.

Capital of the firm is the balancing figure:
Stock 16,800; Sales 70,200; Cash 8,000; Printing and Stationery 4,000; Bank
Overdraft 9,000; Return Inward 4,000; Purchases 50,000; Drawing 6,500;
Return Outward 1,000; Salary 9,000; Furniture 20,000; Advertisement 5,000;
Output CGST 3,500; Output SGST 3,500; Bad Debts 3,000; Discount Allowed 2,000; Discount Received 1,500; Debtors 24,000; B/P 8,000; Creditors 22,000;
B/R 9,000; Provision for Doubtful Debt 2,000; Unearned Rent 1,600; Input CGST & SGST 6,000

1. Started business with cash 50,000 and Furniture 10,000
2. Purchased goods from Mohan Rs 30,000 and 10,000 paid immediately
3. Sold goods for cash costing 12,000 and on credit costing 10,000 both at a profit of 20%
4. Commission received 5,000 and Interest received in advance 2,000

Q.27 Prepare Trial Balance from the following information of Mohan Lala & Sons as on 31st March 2019.

Capital of the firm is the balancing figure:
Stock 16,800; Sales 70,200; Cash 8,000; Printing and Stationery 4,000; Bank
Overdraft 9,000; Return Inward 4,000; Purchases 50,000; Drawing 6,500;
Return Outward 1,000; Salary 9,000; Furniture 20,000; Advertisement 5,000;
Output CGST 3,500; Output SGST 3,500; Bad Debts 3,000; Discount Allowed 2,000; DiscountReceived 1,500; Debtors 24,000; B/P 8,000; Creditors 22,000;
B/R 9,000; Provision for Doubtful Debt 2,000; Unearned Rent 1,600; Input CGST & SGST 6,000 4 office Tables @ 200 per table 5 chairs @ 250 per chair

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