Final exam
Class 11
Accountancy
SET A
TIME 3 HOURS MAX. MARKS 80
GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions.
2. All questions are compulsory
3. Question Nos.1 to 20 carries 1 mark each.
4. Questions Nos. 21 to 26 carries 3 marks each.
5. Questions Nos. from 27 to 29 carries 4 marks each
6. Questions Nos. from 30 to 34 carries 6 marks each
7. There is no overall choice. However, an internal choice has been provided in 7
questions of one mark, 2 questions of three marks, 1 question of four marks and 2
questions of six marks
1. Read the following statement - Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Purchase account is credited when the proprietor withdrawal goods from
the business for his personal use.
Reason (R): Purchase account is credited because as a result of withdrawal of goods, net
amount of purchase of the business is reduced.
Alternatives:
(a) Both (A) and (R) are correct, and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
(c) (A) is correct but (R) is wrong.
(d) Both (A) and (R) are incorrect
OR
Given below are two statements, one labelled as Assertion (A) and other labelled as
Reason(R).
Assertion (A): Accounting records only the transactions of financial nature.
Reason (R): Goods taken from the business by the proprietor for his personal use is not of
financial nature and hence will not be recorded.
Which one of the following is correct?
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true but R is not the correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true.
2. “When a person brings in some money as capital into his business, in accounting records,
it is treated as liability of the business to the owner.” The concept relate to the...
(a) Objectivity
(b) Money measurement
(c) Business entity
(d) Dual aspect
, 3. Which qualitative characteristic of accounting information is reflected when accounting
Information is clearly presented.
(a) Reliability
(b) Relevance
(c) Comparability
(d) Understandability
OR
Use of a common unit of measurement and common format of reporting promotes _____.
(a) Comparability
(b) Understandability
(c) Relevance
(d) Reliability
4. Purchase refers to the buying of
(a) Stationery for office use
(b) Assets for the factory
(c) Goods for resale
(d) Investment
5. Following are two given statements. Read both the statements and choose the correct
alternative:
Statement I: Sales made by the firm is an example of a revenue receipt.
Statement II: Loan Repaid is not a Revenue expenditure.
(a) Both statements are true
(b) Both statements are true
(c) Statement-I is true, but statement-II is false
(d) Statement-II is true, but Statement-I is false
6. Gopal is our debtor for Rs.10,000. He became insolvent and only 60 paise in a rupee is
received from him. The balance of Rs.4,000 would be entered to the:
(a) Debit of discount A/c
(b) Credit of Discount A/c
(c) Debit of bad debt A/c
(d) Credit of bad debt A/c
OR
When the total of debit side of an account exceeds the total of its credit side, the account is
said to have:
(a) Credit balance
(b) Debit balance
(c) Debit as well as credit balance
(d) None of the above
7. What will be journal entry if goods costing Rs.50,000 are sold for Rs.70,000?
(a) Cash A/c Dr 50,000
To Sales A/c 50,000
(b) Cash A/c Dr 70,000
To Sales A/c 70,000
Class 11
Accountancy
SET A
TIME 3 HOURS MAX. MARKS 80
GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions.
2. All questions are compulsory
3. Question Nos.1 to 20 carries 1 mark each.
4. Questions Nos. 21 to 26 carries 3 marks each.
5. Questions Nos. from 27 to 29 carries 4 marks each
6. Questions Nos. from 30 to 34 carries 6 marks each
7. There is no overall choice. However, an internal choice has been provided in 7
questions of one mark, 2 questions of three marks, 1 question of four marks and 2
questions of six marks
1. Read the following statement - Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Purchase account is credited when the proprietor withdrawal goods from
the business for his personal use.
Reason (R): Purchase account is credited because as a result of withdrawal of goods, net
amount of purchase of the business is reduced.
Alternatives:
(a) Both (A) and (R) are correct, and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
(c) (A) is correct but (R) is wrong.
(d) Both (A) and (R) are incorrect
OR
Given below are two statements, one labelled as Assertion (A) and other labelled as
Reason(R).
Assertion (A): Accounting records only the transactions of financial nature.
Reason (R): Goods taken from the business by the proprietor for his personal use is not of
financial nature and hence will not be recorded.
Which one of the following is correct?
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true but R is not the correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true.
2. “When a person brings in some money as capital into his business, in accounting records,
it is treated as liability of the business to the owner.” The concept relate to the...
(a) Objectivity
(b) Money measurement
(c) Business entity
(d) Dual aspect
, 3. Which qualitative characteristic of accounting information is reflected when accounting
Information is clearly presented.
(a) Reliability
(b) Relevance
(c) Comparability
(d) Understandability
OR
Use of a common unit of measurement and common format of reporting promotes _____.
(a) Comparability
(b) Understandability
(c) Relevance
(d) Reliability
4. Purchase refers to the buying of
(a) Stationery for office use
(b) Assets for the factory
(c) Goods for resale
(d) Investment
5. Following are two given statements. Read both the statements and choose the correct
alternative:
Statement I: Sales made by the firm is an example of a revenue receipt.
Statement II: Loan Repaid is not a Revenue expenditure.
(a) Both statements are true
(b) Both statements are true
(c) Statement-I is true, but statement-II is false
(d) Statement-II is true, but Statement-I is false
6. Gopal is our debtor for Rs.10,000. He became insolvent and only 60 paise in a rupee is
received from him. The balance of Rs.4,000 would be entered to the:
(a) Debit of discount A/c
(b) Credit of Discount A/c
(c) Debit of bad debt A/c
(d) Credit of bad debt A/c
OR
When the total of debit side of an account exceeds the total of its credit side, the account is
said to have:
(a) Credit balance
(b) Debit balance
(c) Debit as well as credit balance
(d) None of the above
7. What will be journal entry if goods costing Rs.50,000 are sold for Rs.70,000?
(a) Cash A/c Dr 50,000
To Sales A/c 50,000
(b) Cash A/c Dr 70,000
To Sales A/c 70,000
