CBSE Class 11 Accountancy Sample Paper Set E. It’s always recommended to practice as many sample papers as possible before the examinations. Students can download the sample papers and also question papers of previous years to practice and score better marks in examinations. Refer to other links too for more sample papers.
1. Gaurav purchased 1,000 sq. yards land to build a factory and paid Rs.l5, OO, OOO towards its cost including registration charges.At the end of the financial year, the value of the land came down to Rs.13, 00,000.Gaurav recorded the land at Rs.l3, 00,000 and booked a loss of Rs.2, 00,000. Is he correct in treating the fall in value as a loss? State and explain the accounting concept being violated. ·
2. Which of the limitations of accounting states that accounts may be manipulated to conceal vital facts?
3. Ajay, a dealer in furniture, received advance against sale of tables and chairs. In your opinion how this advance should be treated? Give reason.
4. Write the difference between trade discount and cash discount.
5. Briefly explain any three qualitative characteristics of accounting.
6. Explain the meaning of the following terms with the help of examples:
(a) Deferred Revenue Expenditure
(c) Intangible Assets
7. Explain the following in brief:
(i) Prudence concept
(ii) Matching Principle
8. You are working in XYZ Ltd.as a chief accountant. While preparing the accounts of your Company, you are faced with a number of problems. These are summarized as below:
(a) Directors are interested to adopt Straight line method of providing depreciation instead of present Diminishing Balance method of providing depreciation for current accounting period for showing better results.
(b) At the end of the accounting period, factory rent of the company is outstanding for Rs.lO,OOO
(c) Production manager of the company is interested to reflect the good industrial relations in the accounts.
You are required to (a) state which accounting concept you would follow in dealing with each of the above problems and (b) explain briefly what each concept means.
9. Record the following transact ions i n a journal:'
(i) Bought goods from Arun for Rs. 2, 00,000 at a trade discount of l5% and cash discount of 2%. Paid 80% of the amount immediately.
(ii) Cash Rs.5OO and goods wor th Rs. 2,000 we r e stolen b y an employee.
(iii)Received 25 paise in a rupee from Naresh who owes Rs. 40 000 to the business and was declared i n s o l v e n t .
(iv) Purchased machinery for Rs.l, OO, OOO by cheque and carriage Rs.2, 000 and installation charges Rs.l, OOO are paid in cash.
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