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Book Keeping and Accountancy Revision Test-1 (Question Paper)

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Mahi Shukla
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149 views8 pages

Book Keeping and Accountancy Revision Test-1 (Question Paper)

Uploaded by

Mahi Shukla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Book Keeping And Accountancy Revision Test-1

(Question Paper)
Date: 14 th December 2024
Duration: 3 hours
Maximum Marks: 80
(i) All questions are compulsory.
(ii) Draw neat tables/ diagrams wherever necessary.
(iii) Figures to the right indicate full marks.

Q.1 Attempt all the following sub questions.


[20]
(A) Select the correction options and rewrite the statements:
(5)
1. As per SEBI guidelines minimum amount of payable on share application
should be _________ of Nominal value of shares.
i. 10%
ii. 15%
iii. 2%
iv. 5%

2. The due date for a bill drawn for 2 months on 23 rd Nov. 2019 will be _________.
i. 23rd Jan. 2020
ii. 25th Jan. 2019
iii. 26th Jan. 2019
iv. 25th Jan. 2020

3. Where there is no partnership agreement between partners, the division of


profits takes place in _______ ratio.
i. Equal
ii. Capital ratio
iii. Initial contribution
iv. Experience and tenure of partner

4. The Indian partnership act is in force since __________.


i. 1933
ii. 1932
iii. 1956
iv. 1934
v. 1984
vi. 2000
vii. 1981

5. Find the odd one out:


i. The decrease in furniture
ii. Patents written off
iii. Increase in bills payable
iv. RDD written off

(B) Answer the following questions in only ‘one’ sentence each:


(5)
1. Who is considered to be solvent partner?
2. What is dissolution of partnership firm?
3. What is fluctuating capital?
4. How is gain ratio calculated?
5. Why Income and Expenditure Account is prepared?

(C) Write a word/term/phrase as a substitute for each of the following


statements: (5)
1. Reputation of business measured in terms of money.
2. Debit balance of revaluation account.
3. A person who represents a deceased partner.
4. Find the odd one out:
i. Contra
ii. Payment
iii. Receipt
iv. Expense
5. Find the odd one out:
i. Super profit method
ii. Valuation method
iii. Average profit method
iv. Fluctuating capital method

(D) Give Specimen of Bill of Exchange:


(5)
Q.2
(10)
1.

OR
2.

Q.3
(10)
1.
OR
2.

Q.4
(8)
1.

OR
2.

Q.5
(8)
1.

OR
2.
Q.6
(12)
Q.7
(12)

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