dpsnoida.in 9th International Commerce Olympiad 2017 Class XI Sample Paper : Delhi Public School Noida

Name of the Organisation : Delhi Public School, Noida
Name of the Exam : International Commerce Olympiad – 2017
Document Type : Sample Question Paper
Category : Class XI
Website : https://dpsnoida.co.in/
Download Question Paper :
Class XI Accountancy 2017 : https://www.pdfquestion.in/uploads/22771-Accxi2017.pdf
Class XI Accountancy 2016 : https://www.pdfquestion.in/uploads/22771-ACCxi2016.pdf
Class XI Business Studies 2016 : https://www.pdfquestion.in/uploads/22771-BUSIxi2016.pdf

DPS Noida XI Commerce Olympiad Paper

Section- I :

Accountancy

1. Which of the following will not be recorded in books of accounts?
(a) Investment in shares
(b) Use of office stationery for owners? kids
(c) Hiring of new employee
(d) Import of goods for exporting them
Ans. C

2. By following which Accounting principle “Contingent liabilities shown by way of footnote to accounts” ?
(a) Materiality
(b) Full Disclosure
(c) Prudence
(d) Matching
Ans. A

3. “Closing stock is valued “at cost price or at market price, whichever is less” This is in accordance with which principle of accounting?
(a) Conservatism
(b) Full disclosure
(c) Matching
(d) Money measurement
Ans. A

4. Name the document required when a business firm returns goods to supplier for goods being defective.
(a) Voucher
(b) Invoice
(c) Debit Note
(d) Credit Note
Ans. C

5. Credit balance of pass book means___
(a) Excess of credit side over debit side of bank pass book.
(b) Excess of debit side over credit side of bank pass book.
(c) Both (a) and (b)
(d) Either (a) or (b)
Ans. A

6. A credit sale of old furniture to Radha for ` 2,000 was entered into sales book for ` 20,000. While rectifying the error, Radha account will be credited by :
(a) ` 20,000
(b) ` 18,000
(c) ` 2,000
(d) ` 22,000
Ans. B

7. The book value of an asset after two years of providing depreciation on written down value method @ 10% p.a. is 89,100. Its original value was___
(a) ` 90,000
(b) ` 1,10,000
(c) ` 1,07,820
(d) ` 98,010
Ans. B

8. On 12 June 2014, Gaurav drew a bill on Manish for 2 months. The due date of the bill will be:
(a) 15 August 2014
(b) 12 August 2014
(c) 16 August 2014
(d) 14 August 2014
Ans. D

9. If sales are ` 6,00,000 and Gross profit is 20% on cost then Gross Profit will be :
(a) ` 1,20,000
(b) ` 1,25,000
(c) ` 4,00,000
(d) ` 1,00,000
Ans. D

10. C?s Trial Balance contains the following information: Bad Debt: ` 4,000., Provision for bad debts: ` 5,000 and Sundry Debtors: ` 25,000 It is desired to create a provision for bad debts at 10% on sundry debtors at the end of the year. Sundry debtors will appear in the balance sheet at a figure of :
(a) ` 22,500
(b) ` 21,000
(c) ` 18,000
(d) ` 15,500
Ans. A

Section- II :

Business Studies

11. Which type of industry is Packaging?
(a) Processing Industry
(b) Tertiary Industry
(c) Assembling Industry
(d) Primary Industry
Ans.B

12. Which organization can help in protection of traders from exploitation by middlemen and improve their competitive position?
(a) Government
(b) Chambers of Commerce and Industry
(c) Marketing Cooperative Societies
(d) Charitable Organizations
Ans. C

13. Which of the following is not a clause of Memorandum of Association?
(a) Name clause
(b) Director clause
(c) Capital clause
(d) Objects clause
Ans. B

14. Identify the type of organization highlighted in the given statement:
“It is a government service or private business venture which is operated through a collaboration of government and one or more private sector companies”
(a) Joint venture
(b) Government company
(c) Statutory corporation
(d) Public Private Partnership
Ans. D

15. What is the minimum amount for an electronic transfer of funds in case of RTGS?
(a) ` 2,00,000
(b) ` 20,000
(c) ` 50,000
(d) ` 1,00,000
Ans. A

16. It is the right of an insurer who has paid claim under insurance, to call upon other liable insurers to make payment for the loss. Which of the following principle is relevant to the above statement?
(a) Principle of Indemnity
(b) Principle of Contribution
(c) Principle of Subrogation
(d) Principle of Utmost good faith
Ans. B

17. A company can meet its working capital requirements by raising:
(a) Preference Shares
(b) Debentures
(c) Equity Shares
(d) Public Deposits

Section – III :

Business Awareness

18. Which company has the tagline of “Tyres with Muscle”?
(a) CEAT
(b) MRF
(c) Appolo
(d) Bridgestone
Ans. B

19. Which of the following bank is launched in OCT, 2015?
(a) Bandhan Bank
(b) IDFC Bank
(c) DCB Bank
(d) Dhanlaxmi Bank
Ans. B

20. The Allen Solly brand belongs to:
(a) Raymond
(b) Arvind Mills
(c) Lee Cooper
(d) Madura Garments
Ans. D

21. Popular retail chain store “Shoppers Stop” belongs to which group?
(a) K Raheja Group
(b) Reliance Group
(c) Tata Enterprise Group
(d) Future Group.
Ans. A

Section-IV :

Logical Ability and Reasoning

22. Shefali is the sister of the son of Alok ?s son. How is Shefali related to Alok?
(a) Sister
(b) Grandmother
(c) Niece
(d) Grand-daughter
Ans. D

23. Ankit started walking towards North. After walking 30 m, he turned towards left and walked 40 m. He then turned left and walked 30m. He again turned left and walked 50 m. How far is he from his original position?
(a) 10 m
(b) 40 m
(c) 30 m
(d) 20 m
Ans. A

24. In a certain code, „CENTRAL? is written as „LARTNEC?. How is „SEMINAR?written in that code?
(a) NARIMES
(b) MESIRAN
(c) RANIMES
(d) NARISEM
Ans. C

25. Ashish is heavier than Gopal. Mahesh is lighter than Jayesh, Prashant is heavier than Jayesh but lighter than Gopal. Who among them is the heaviest?
(a) Gopal
(b) Jayesh
(c) Prashant
(d) Ashish
Ans. D