CBSE Academic Class X Elements Of Book Keeping & Accountancy Sample Question Paper 2015-16

Name of the Board : CBSE Academic
Class : X STD
Subject : Elements Of Book Keeping & Accountancy SET II
Year : 2015-16

Website : http://cbseacademic.in/SQP_CLASSX_2015_16.html
Download Sample Question Paper SET II : https://www.pdfquestion.in/uploads/8091ACCOUNTANCY.pdf

Elements Of Book Keeping & Accountancy Sample Question Paper :

Q1.The purpose of preparing final accounts is to ascertain:
a) Profit or loss
b) Capital

Related : CBSE Academic Class XII Physics Sample Question Paper 2016 : www.pdfquestion.in/8089.html

c) The value of assets
d) Profit or loss and financial position

Q2.The profit and loss account shows
a) Financial position of the concern
b) Gross profit
c) Net profit
d) Net profit and financial position

Q3. Balance sheet shows
a) Profit or loss
b) Financial position
c) Errors of accounts
d) Total debtors

Q4.Final Accounts are prepared
a) At the end of calender year
b) At the beginning of the accounting year
c) On every Diwali
d) At the end of accounting year

Q5. Trading and Profit and Loss Account is prepared
a) For a particular period
b) On a particular date
c) For the whole year
d) For a decade

Q6. Balance sheet is prepared
a) For a particular period
b) On a particular date
c) For the whole year
d) For a month

Q7. Excess of credit in Profit and Loss account is called
a) Net profit
b) Net loss
c) Gross profit
d) Gross loss

Q8.Wages and Salaries appearing in Trial Balance is shown
a) On the debit side of trading A/c
b) On the debit side of Profit and Loss Account
c) On the Asset Side of the Balance Sheet
d) On the liabilities side of Balance Sheet

Q9.Land is
a) Current Asset
b) Fixed asset
c) A liability
d) Capital

Q10. Choose the current assets from the following
a) Plant
b) Inventories
c) Creditors
d) Capital

Q11.Generally accounts under single entry system are maintained by
a) Sole Trader
b) Company
c) Society
d) Government

Q12. Single entry system of book keeping is
a) accurate
b) systematic
c) Unscientific
d) Rationale

Q13. When closing capital is more than the opening capital, it denotes
a) Profit
b) Loss
c) No profit no loss
d) Profit, if there is no introduction of fresh capital

Q14. When closing capital is less than the opening capital, it denotes
a) Profit
b) Loss
c) Loss, if there is drawing
d) Expenses

Q15.If the due date of a bill falls on a public holiday then the bill is due on
a) One day after the due date
b) Public holiday
c) One day before the due date
d) One month after due date

Q16. Bill of Exchange is also
a) Order
b) Request
c) Promise
d) Invoice

Q17.Drawer in bill of exchange is a person
a) Who draws a bill
b) Who accepts the bill
c) Who makes the payment
d) Intelligent person/ none of the above

Q18.Endorsing the bill means
a) Giving the bill on charity
b) Deposting the bill for the government treasury
c) Transferring the bill to another person by the holder
d) Receiving the bill from creditors

Q19. Give three differences between Trading Account and Profit and Loss Account.3
Q20.Calculate Closing Capital Opening capital Rs. 1,70,000: Profit for the year Rs.1,20,000: Drawings Rs. 70,000. During the year proprietor sold ornaments of his wifeFor Rs.20,000 and invested the same in business.

Q21. What is meant by “Accounting from Incomplete Records”? Mention any two characteristics of it. 3
Q22. Give three differences between Balance Sheet and Statements of Affairs. 3
Q23. From the Balance Sheet given below, calculate: 3
1) Fixed Assets
2) Current Assets
3) Current Liabilities

Q24. Surya maintains books on Single Entry System. He gives you the following information:
Capital on 1st April,2014 Rs.30,000
Capital on 1st April, 2015 Rs,32,800
Drawings made during the period: April, 2014 to March, 2015 – Rs10,800.
Capital introduced on 1st August,2012 Rs.5,000
You are required to calculate the profit or loss made by Mohan. 3

Q25. Name and explain the three parties to a Bill Of Exchange. 3
Q26. Explain any three terms:
a) Dishonour Of a Bill
b) Noting Charges
c) Discounting of a bill
d) Endorsement of a bill 3
Q27. Give any four objectives of preparing financial statement. 4