CBSE Class 11 Accountancy Question Paper Set 4 Solved. Students can download the last year board exams question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.
1 Godrej Ltd imported from Germany one machinery for sale in India and another machinery for production purposes. Which will be treated as goods and which as fixed asset?
2 ‘Charity given through cash’ - State its effect on Accounting equation.
3 How is Accounting information useful for ‘Investors and Potential Investors’?
4 The owner of the firm records his medical expenses in the firms’ income statement. Which principle is violated in this case?
5 Differentiate between Trade Discount and Cash Discount on the basis of ‘recording’.
6 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a
i. Capital introduced 30,000
ii. Drawings made by him 6,500
iii. Further capital introduced 22,000
iv. Profit for the period 7,500
7 Explain the ‘Imprest System’ of Petty Cash Book by giving an example.
8 (i) What is a compound journal entry? Give an example.
(ii) Why contra entry in three column cash book is not posted into ledger?
(iii) For what purposes is a journal proper used?
9 Comment upon the following statements by giving appropriate reasons:
i. Accounting is not fully exact
ii. Accounting information must be presented in such a way that only accounting people understands it.
iii. Accounting information must be reliable.
10 Shri Hariharan had started a new mid - sized business. He being new to accounting sought advice from a chartered accountant on maintenance of accounts. He was advised that he should follow Double Entry System of Accounting maintaining accounts on accrual basis.
Some of his friends advised him to maintain accounts on Cash Basis of Accounting. He decided to follow the advice of the chartered accountant. Is the decision of Hariharan correct?
Justify your answer by giving appropriate reasons.
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