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KENDRIYA VIDYALAYA, JETPUR
OCTOBER MONTHLY TEST-1 (OCTOBER-2024)
CLASS:-XI (COMM.) TIME:-45 MINS.
SUB:-ACCOUNTANCY (055) M.MARKS:- 20
General Instructions:- (a) Each question carries marks indicated against it. (b) All questions are compulsory. (c) Neat and clean work and drawing of column attract high scoring.
Q.NO (1 MARK QUESTIONS ANY 10 =10 MARKS)
1 The entry which is passed for bringing forward the balances of personal and real accounts as shown in the last year’s balance sheet is called _____. A Closing entry B Journal entry C Opening entry D None of these 2 The mathematical expression defining the comparative relationship between assets and liabilities of any person, institution, or business concern is called _____. A Accounting. B Accounting equation C Bookkeeping D None of these 3 Ledger is a book of _______ in accounting. A All non-cash transactions B Secondary entry C Original entry D All cash transactions 4 The source document for accounting is known as… A Voucher B Journal C Ledger D Cash book 5 Liabilities and assets amount to Rs. 50,000 and Rs. 7,800 respectively. The difference Amount shall represent _______. A Creditors B Debentures C Profit D Capital 6 Total assets are Rs. 2,30,000 and the amount of capital is Rs. 1,95,000 the amount of creditors will be ______ A Rs. 4,25,0000 B Rs. 45,000 C Rs. 35,000 D None of these 7 A machinery worth Rs. 5, 00,000 was purchased. Which of the basic rule would be applicable to record the transaction in journal? A Debit the receiver, Credit the giver B Debit whatever comes in, Credit whatever goes out C Debit all the expenses or losses, credit all the incomes and gains D All of these. 8 Karan sold goods to Suhan worth Rs. 2,50,000 with trade discount of 10% and Cash discount of 2%. What would be the amount payable by Suhan? A Rs. 2,50,000 B Rs. 2,75,000 C Rs. 2,20,500 D Rs. 2,25,000 9 Bhavya started business with cash Rs. 70,000, stock Rs. 25,000 , debtors Rs. 10,000 and creditors worth Rs. 36,600. What would be the amount of capital? A Rs. 68,400 B Rs. 86,400 C Rs. 1,41,600 D Rs. 1,61,400 10 Cash receiver from Jay Rs, 36,000 after allowing him cash discount @10%, amount debited to discount account will be: A Rs, 3600 B Rs. 4,000 C Rs. 4,400 D None of these 11 Furniture purchased from HITARTH for personal use. Which of the accounts will be affected? A Both real accounts B Both personal accounts C One real account and one personal account D One real account and one nominal account 12 Journal is the book of A Original entries B Date wise entry C First or primary entry D All of these 13 Transfer of debit and credit items from journal to ledger is known as.. A Entry B Transfer C Accounting D Posting 14 Prove that the Accounting Equation is satisfied in all the following transactions of Shiva. Also prepare a Balance Sheet. i) Commenced business with cash Rs.60, 000,bank Rs.50,000,machinery,Rs.50,000. ii) Prepaid rent Rs.500. iii) Purchase goods for cash Rs.30,000 and credit Rs.20,000. iv) Sold goods for cash Rs.30,000 costing Rs.20,000. v) Paid salary Rs.500 and salary outstanding being Rs.100. vi) Bought motorcycle for personal use Rs.5, 000. (4 MARKS) 15 Prepare Journal from the following transactions given below:- 1. Rent outstanding Rs. 1,000 2. Commission received in advance Rs. 7,000 3. Interest charge @7% p.a. when total capital were Rs. 70,000 4. There was a loss by fire of Rs.10, 000 but company approved the claim of onlyRs.8, 000. 5. Rahul Kumar who owed me Rs. 3,000 has failed to pay the Amount. He pays me a compensation of 45 paisa in a rupee. 6. Receivable interest on investment Rs.1,500 (6 MARKS)
S.S. Mota Singh Sr. Sec Model School, Janakpuri Class Xi Accountancy First Term Exam 2021-22 Maximum Marks: 40 Time Allowed: 90 Minutes General Instructions
