Friday, January 15, 2016

TN H.Sc Plus 2 Accountancy Model Question Paper

TN School Board
Model Question Paper
Time : 3 Hrs Class - XII Max. Marks : 200
Section - A (30 x 1 = 30)
Answer ALL questions.
All questions carry equal marks.
I. Fill in the blanks:
1. Closing stock is valued at cost price or _________ price whichever is lower.
2. After providing provision for bad and doubtful debts, the remaining debtors are called as _________.
3. Trial Balance shows bank loan Rs.5,00,000 @ 10% on 1.4.02. Interest paid Rs.30,000. Interest outstanding is _________.
4. Statement of affairs method is also called as _________ method.
5. Tax authorities do not accept _________ method.
6. Under insurance policy method, cash is paid by way of ___________ every year.
7. Selling price of a plant is Rs.3,00,000, profit on sale was Rs.28,000. The Book value of plant is __________.
8. _________ Ratio measures the firm's ability to pay off its current dues.
9. The relationship of net profit to sales is known as _________.
10. Cash budget is an useful tool for _________.
11. Mutual and _________ agency is the essence of partnership.
12. The credit balance of current account will be shown on the _________ side of balance sheet.
13. Undistributed loss will appear on the _________ side of Balance sheet.
14. Reserve capital can be issued only at the time of _________.
15. A Ltd. issued 60,000 shares of Rs.10 each, fully subscribed by public. Rs.7 per share has been called up, then _____________ will represent uncalled capital.
II. Choose the correct answer:
16. Accrued commission is ________.
a) Liability b) Asset c) Income
17. Trial Balance as on 31.03.04 shows Sundry Debtors Rs.80,500. Write off Rs.500 as
Bad debts. The amount of provision for bad and doubtful debt at 5% will be ________.
a) Rs. 4,000 b) Rs. 5,000 c) Rs. 2,500
18. Under Incomplete Double Entry, Capital of a business is ascertained by preparing
a) Trading A/c b) Statement of Profit or Loss
c) Statement of Affairs
19. Debtors on 1st April 2004 Rs.20,400 and on 31st March 2005 Rs.33,000. Cash received
from debtors during the year Rs.60,800. Thus, Credit Sale made during the year is
a) Rs. 73,400 b) Rs. 81,200 c) Rs. 48,200
20. If selling price is more than the book value of an asset on the date of sale, it is _______.
a) a loss b) an income c) a profit
21. Cost of an asset Rs.1,00,000. Rate of depreciation is 10% p.a. Depreciation is calculated
under straight line method. Book value of asset at the end of second year is _________.
a) Rs. 90,000 b) Rs. 80,000 c) Rs. 70,000
22. Liquid Liabilities means __________.
a) Current Liabilities b) Current Liabilities minus Bank Overdraft
c) Current Liabilities + Bank Overdraft

23. _________ are those assets which are easily convertible into cash.
a) Current Assets b) Liquid Assets c) Fixed Assets
24. Budget is expressed in terms of
a) Money b) Physical Units
c) Money and Physical Units
25. The excess of average profit over normal profit is _________.
a) Goodwill b) Average Profit c) Super Profit
26. Under fixed capital method, the profits of partners will be transferred to their __________ accounts.
a) Current b) Drawings c) Capital
27. Under _________ method the new partner brings in cash for his share of goodwill.
a) Premium b) Revaluation c) Memorandum Revaluation
28. Calls in arrear is shown in Balance sheet as __________
a) deduction from called up capital
b) addition to paid up capital
c) addition to issued capital
29. When shares are forfeited the share capital of the company will _________.
a) remain the same b) Decrease c) increase
30. Capital reserve is shown on the _________ side of Balance sheet
a) Asset b) Liability c) Contingent liability
Section - B (10 x 5 = 50)
Answer any TEN questions.
All questions carry equal marks.
Answer to theory question not to exceed 50 words.
31. What is an adjusting entry?
32. Mention any two limitations of incomplete double entry.
33. What is Annuity method of depreciation?
34. What are the advantages of Ratio Analysis?
35. Write notes on Cash budget.
36. Mention any two differences between fixed capital method and fluctuating capital method.
37. What is forfeiture of shares?
38. Give adjusting entry and transfer entry for Depreciation on machinery Rs.5,000.
39. From the following information, find out total sales.
Opening Sundry debtors 1,00,000
Cash received from Sundry debtors 1,60,000
Discount allowed to Sundry debtors 4,000
Sales Return 10,000
Closing debtors 1,50,000
Cash Sales - Rs.76,00

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