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Monday, January 11, 2016

Telangana Inter 1st year Commerce Model Paper Set 1

Telangana Inter 1st year Commerce Model Paper 1
Jr. Inter Commerce Model Paper
Time: 3 hrs. Max.Marks:100
Section - A
Answer any Two of the following questions in not exceeding 40 lines each. 2×10 = 20

1. What is meant by partnership? Explain merits and demerits.

2. What is Prospectus? State the contents of Prospectus?

3. What do you understand by a "Co-operative Society"? State its characteristics.

Section - B

Answer any Four of the following questions in not exceeding 20 lines each. 4×5 = 20

4. Define Trade. Explain different types of Trade.

5. Explain the advantages & disadvantages of Joint Hindu Family.

6. Explain the advantages of Multinational Corporations.

7. Discuss the Merits of Public Sector undertakings.

8. Define Business Finance. Explain the need of Business Finance.

9. What are the different types of Business Finance?

Section - C

Answer any Five of the following questions not exceeding 5 lines each. 5×2 = 10

10. Genetic industry

11. Minor Partner

12. Mithakshara law

13. Holding companies

14. Registered Companies

15. Define Public Sector

16. Retained Profits

Part - II (50 marks)

Section - D

Answer the following question. 1×20 = 20

18. From the following Trial Balance of Mr. Balu, prepare Trading Profit and Loss account and

Balance Sheet for the year ending 31.12.2010.


1. Closing Stock 44,000/-

2. Outstanding Wages 8,000.

3. Prepaid Insurance 200.

4. Provide Bad debts reserve at 5%

5. Depreciation on Machinery and Furniture is 5%.

Debit Balances



Trade expenses



Office expenses


Bad Debts





Bills Receivable

Opening Stock

Cash in Hand

Cash at Bank


















Section - E

Answer any one of the following questions. 1×10 = 10

19. Prepare Three Column cash book from the following

20. Bank balance as per Cash Book ’.17,100 as on 31-12-2009. On comparing the cash book

with the pass book the following discrepancies were noted. Prepare a Bank Reconciliation

Statement showing balance as per pass book.

i) Cheques deposited in Bank but not credited 4,500.

ii) Bank charges Rs. 100 debited in pass book only.

1. Cash in Hand

Cash at Bank

5. Sales

6. Issued a cheque to Anjali


8. Received cash from Jagan

Received cheque from Jagan


(The cheque deposited with Bank)

10. Cash withdrawn for office use

15. Paid salaries by cheque

18. Purchases

20. Cash deposited in Bank

iii) Cheques issued but not yet presented for payment Rs. 3,500.

iv) Interest credited by the Bank in pass book only 1,500.

v) Directly deposited by a customer in the Bank ’. 4,000.

Answer any Two of the following questions.

21. Explain the various types of accounts with principles.

22. From the following particulars, prepare Kiran's account.

Section - F

2009 Jan.

1. Amount due to Kiran

10. Goods purchased from Kiran

16. Goods returned to Kiran

18. Cash paid to Kiran

20. Goods purchased from Kiran

25. Amount payable to Kiran settled with cheque

23. Record the following transactions in proper Subsidiary books.

2011 June

1. Purchased goods from Madhuri

5. Sold goods to Swathi

9. Purchased goods from Vikas

18.Sold goods to Vani

22.Purchased goods from Usha

28.Sold goods to Harika

Rs. ’







24. Rectify the following errors.

i) Total of sales book overcost by 200

ii) Machinery purchased 2,500 was posted on the debit side of purchase account.

iii) Sold goods to Lal debited to cash account 300.

iv) Purchase returns 300 to Shyam wrongly entered in sales book.

v) Rent paid to landlord wrongly debited to his personal account ’. 1000.

Section - G

Answer any Five of the following Questions.

25. What is Capital?

26. Define Accounting?

27. Compensating Errors.

29. Business Entity Concept.

30. Journalise the following transactions.

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