+1 Accountancy Unit question paper
Unit: 1 – 5 Marks: 50
Time: 1 hrs 30 mins. Std: 11
Choose the correct answer 1×5 = 5 M
1. Financial position of a business is ascertained on the basis of -------------
------
A. Journal
B. Trial balance
C. Balance sheet
D. Ledger
2. In India, accounting standards are issued by --------
A. Reserve Bank of India
B. The cost and management accountants of India
C. Supreme court of India
D. The institute of chartered accountant of India
3. The correct Accounting equation --------------
A. Liabilities = Assets + capital
B. Assets = Capital – Liabilities
C. Assets = Capital + Liabilities
D. None of the above
4. Main objective of preparing ledger account is to ----
A. Ascertain the financial position
B. Ascertain the profit or loss
C. Both A and B
D. Know the balance of each ledger account
5. Trial balance is a ------------
A. Journal
B. Ledger
C. Statement
, D. None of the above
Answer any 4 questions 2×4= 8M
6. Define Accounting?
7. What is meant by accounting concept?
8. What is meant by journalising?
9. What are the methods of preparation of trial balance?
10. State whether the following account should be placed in the
debit or credit column of the trial balance
I. Carriage outwards
II. Bad debts
11. Fill the missing information in the journal entry
Particular Debit Credit
---------A/c. Dr
To ----------A/c
( Goods ---------- ---------------
purchased for
cash ₹20,000)
Answer any 4 questions. 3×4=12M
12. Discuss the role of an accountant in the modern business world?
13. What are the three different types of personal account?
14. What is ledger? Explain its utilizes
15. Pass journal entry for the following transaction
I. Basu started business with cash ₹ 50,000
II. Purchased furniture by paying for cash ₹ 6,000
III. Purchased machinery on credit from harish ₹ 10,000
16. Prepare furniture a/c for the following transaction
I. Furniture in hand ₹ 2,000
II. Purchased furniture for cash ₹ 4,000
III. Sold furniture ₹ 400
Unit: 1 – 5 Marks: 50
Time: 1 hrs 30 mins. Std: 11
Choose the correct answer 1×5 = 5 M
1. Financial position of a business is ascertained on the basis of -------------
------
A. Journal
B. Trial balance
C. Balance sheet
D. Ledger
2. In India, accounting standards are issued by --------
A. Reserve Bank of India
B. The cost and management accountants of India
C. Supreme court of India
D. The institute of chartered accountant of India
3. The correct Accounting equation --------------
A. Liabilities = Assets + capital
B. Assets = Capital – Liabilities
C. Assets = Capital + Liabilities
D. None of the above
4. Main objective of preparing ledger account is to ----
A. Ascertain the financial position
B. Ascertain the profit or loss
C. Both A and B
D. Know the balance of each ledger account
5. Trial balance is a ------------
A. Journal
B. Ledger
C. Statement
, D. None of the above
Answer any 4 questions 2×4= 8M
6. Define Accounting?
7. What is meant by accounting concept?
8. What is meant by journalising?
9. What are the methods of preparation of trial balance?
10. State whether the following account should be placed in the
debit or credit column of the trial balance
I. Carriage outwards
II. Bad debts
11. Fill the missing information in the journal entry
Particular Debit Credit
---------A/c. Dr
To ----------A/c
( Goods ---------- ---------------
purchased for
cash ₹20,000)
Answer any 4 questions. 3×4=12M
12. Discuss the role of an accountant in the modern business world?
13. What are the three different types of personal account?
14. What is ledger? Explain its utilizes
15. Pass journal entry for the following transaction
I. Basu started business with cash ₹ 50,000
II. Purchased furniture by paying for cash ₹ 6,000
III. Purchased machinery on credit from harish ₹ 10,000
16. Prepare furniture a/c for the following transaction
I. Furniture in hand ₹ 2,000
II. Purchased furniture for cash ₹ 4,000
III. Sold furniture ₹ 400
