CBSE Class 11 Accountancy Question Paper Set 05 Solved

CBSE Class 11 Accountancy Question Paper Set 5 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 How is Accounting information useful for ‘Banks and Financial Institutions’?

2 The owner of the firm does not record his personal expenses in the firm’s books. Which principle is violated in this case?

3 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?

4 ‘Charity given through cash’ - State its effect on Accounting equation.

5 Differentiate between Trade Discount and Cash Discount on the basis of ‘nature’.

6 (i) What is a compound journal entry?

(ii) Is Cash Book a Journal or a ledger?

(iii) For what purposes is a journal proper used?

7 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.

8 ShriHariharan 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.

9 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a business: Rs.

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

10 Explain the‘Imprest System’ of Petty Cash Book by giving an example.

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