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Page 1
1
- Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2017-18
Marking Scheme – Accountancy 67/1,67/2,67/3
General Instructions:-
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has
been carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall
be given only after ensuring that there is no significant variation in the marking of individual evaluators.
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the
question should then be totalled up and written in the left hand margin and encircled.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other
answer scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not
given the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer
books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø? Leaving answer or part thereof unassessed in an answer script
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø? Wrong transference of marks from the inside pages of the answer book to the title page.
Ø? Wrong question wise totaling on the title page.
Ø? Wrong totaling of marks of the two columns on the title page
Ø? Wrong grand total
Ø? Marks in words and figures not tallying
Ø? Wrong transference to marks from the answer book to award list
Ø? Answers marked as correct but marks not awarded.
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded
zero(0) Marks.
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage
the prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of
all concerned, It is again reiterated that the instructions be followed meticulously and judiciously.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and
written in figures and words.
17. As per orders of the Hon’ble Supreme Court, the candidates would now be permitted to obtain photocopy of the Answer Book
on request on payment of the prescribed fee. All examiners/Head Examiners are once again reminded that they must ensure
that evaluation is carried out strictly as per value points for each answer as give in the Marking Scheme.
Page 2
1
- Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2017-18
Marking Scheme – Accountancy 67/1,67/2,67/3
General Instructions:-
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has
been carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall
be given only after ensuring that there is no significant variation in the marking of individual evaluators.
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the
question should then be totalled up and written in the left hand margin and encircled.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other
answer scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not
given the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer
books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø? Leaving answer or part thereof unassessed in an answer script
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø? Wrong transference of marks from the inside pages of the answer book to the title page.
Ø? Wrong question wise totaling on the title page.
Ø? Wrong totaling of marks of the two columns on the title page
Ø? Wrong grand total
Ø? Marks in words and figures not tallying
Ø? Wrong transference to marks from the answer book to award list
Ø? Answers marked as correct but marks not awarded.
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded
zero(0) Marks.
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage
the prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of
all concerned, It is again reiterated that the instructions be followed meticulously and judiciously.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and
written in figures and words.
17. As per orders of the Hon’ble Supreme Court, the candidates would now be permitted to obtain photocopy of the Answer Book
on request on payment of the prescribed fee. All examiners/Head Examiners are once again reminded that they must ensure
that evaluation is carried out strictly as per value points for each answer as give in the Marking Scheme.
2
.
Q.
Set
No.
Marking
Scheme
2017--18
Accountancy
(055)
Expected
Answers
/
Value
points
Distributio
n
of
marks
67/
1
67/
2
67/
3
1
2
4
Q.
Amit
and
Beena
were
…
acquire
from
Beena?
Ans.
Share
of
profit
acquired
by
Chaman
from
Aman=
1/6
x
2/5
=
2/30
Therefore,
share
of
profit
acquired
by
Chaman
from
Beena
=
1/6
--2/30
=3/30
=
1/10
OR
Share
of
profit
acquired
by
Chaman
from
Beena=
3/5
x
1/6
=
3/30
=
1/10
=1
Mark
2
1
6
Q.
Neetu,
Meetu…Meetu’s
retirement.
Ans.
Books
of
the
firm
Journal
Date
Particulars
LF
Dr
(`)
Cr
(`)
2018
Jan.1
Neetu’s
capital
A/c
Teetu’s
Capital
A/c
To
Meetu’s
Capital
A/c
(Being
Meetu’s
share
of
goodwill
credited
in
her
capital
account
by
debiting
Neetu’s
and
Teetu’s
capital
account
in
the
gaining
ratio)
70,000
70,000
1,40,000
=1
Mark
3
5
1
Q.
Distinguish
between
…liabilities.
Ans.
Basis
Dissolution
of
partnership
Dissolution
of
a
partnership
firm
Settlement
of
assets
and
liabilities
Assets
and
liabilities
are
revalued
and
new
balance
sheet
is
drawn
Assets
are
sold
and
liabilities
are
paid
off
=1
Mark
4
6
3
Q.
Ritesh
and
Hitesh…
your
answer.
Ans.
No,
they
are
not
doing
business
in
partnership
because
they
are
not
involved
in
doing
sale
and
purchase
of
land/
plot
on
a
regular
basis/
Mere
co--ownership
of
a
property
does
not
amount
to
partnership.
½
mark
for
writing
‘No’
+
½
mark
for
the
Page 3
1
- Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2017-18
Marking Scheme – Accountancy 67/1,67/2,67/3
General Instructions:-
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has
been carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall
be given only after ensuring that there is no significant variation in the marking of individual evaluators.
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the
question should then be totalled up and written in the left hand margin and encircled.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other
answer scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not
given the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer
books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø? Leaving answer or part thereof unassessed in an answer script
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø? Wrong transference of marks from the inside pages of the answer book to the title page.
Ø? Wrong question wise totaling on the title page.
Ø? Wrong totaling of marks of the two columns on the title page
Ø? Wrong grand total
Ø? Marks in words and figures not tallying
Ø? Wrong transference to marks from the answer book to award list
Ø? Answers marked as correct but marks not awarded.
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded
zero(0) Marks.
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage
the prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of
all concerned, It is again reiterated that the instructions be followed meticulously and judiciously.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and
written in figures and words.
17. As per orders of the Hon’ble Supreme Court, the candidates would now be permitted to obtain photocopy of the Answer Book
on request on payment of the prescribed fee. All examiners/Head Examiners are once again reminded that they must ensure
that evaluation is carried out strictly as per value points for each answer as give in the Marking Scheme.
2
.
Q.
Set
No.
Marking
Scheme
2017--18
Accountancy
(055)
Expected
Answers
/
Value
points
Distributio
n
of
marks
67/
1
67/
2
67/
3
1
2
4
Q.
Amit
and
Beena
were
…
acquire
from
Beena?
Ans.
Share
of
profit
acquired
by
Chaman
from
Aman=
1/6
x
2/5
=
2/30
Therefore,
share
of
profit
acquired
by
Chaman
from
Beena
=
1/6
--2/30
=3/30
=
1/10
OR
Share
of
profit
acquired
by
Chaman
from
Beena=
3/5
x
1/6
=
3/30
=
1/10
=1
Mark
2
1
6
Q.
Neetu,
Meetu…Meetu’s
retirement.
Ans.
Books
of
the
firm
Journal
Date
Particulars
LF
Dr
(`)
Cr
(`)
2018
Jan.1
Neetu’s
capital
A/c
Teetu’s
Capital
A/c
To
Meetu’s
Capital
A/c
(Being
Meetu’s
share
of
goodwill
credited
in
her
capital
account
by
debiting
Neetu’s
and
Teetu’s
capital
account
in
the
gaining
ratio)
70,000
70,000
1,40,000
=1
Mark
3
5
1
Q.
Distinguish
between
…liabilities.
Ans.
Basis
Dissolution
of
partnership
Dissolution
of
a
partnership
firm
Settlement
of
assets
and
liabilities
Assets
and
liabilities
are
revalued
and
new
balance
sheet
is
drawn
Assets
are
sold
and
liabilities
are
paid
off
=1
Mark
4
6
3
Q.
Ritesh
and
Hitesh…
your
answer.
Ans.
No,
they
are
not
doing
business
in
partnership
because
they
are
not
involved
in
doing
sale
and
purchase
of
land/
plot
on
a
regular
basis/
Mere
co--ownership
of
a
property
does
not
amount
to
partnership.
½
mark
for
writing
‘No’
+
½
mark
for
the
3
reason
=1
Mark
5
3
2
Q.
Is
Reserve
Capital
a
part
of
‘Unsubscribed
Capital’
or
‘Uncalled
Capital’?
Ans.
Reserve
Capital
is
a
part
of
Uncalled
Capital.
=1
Mark
6
4
5
Q.
Give
the
meaning
of
‘Debentures
issued
as
Collateral
security’.
Ans.
When
the
company
issues
debentures
to
the
lenders
as
an
additonal/
secondary
security,
in
addition
to
other
assets
already
pledged/
some
primary
security.
Such
issue
of
debentures
is
called
debentures
issued
as
a
collateral
security.
=1
Mark
7
8
9
Q.
Jayant,
Kartik
and
Leena…..New
profit
sharing
ratio
of
Jayant
and
Leena.
Ans.
Jayant’s
gain=
2/5
x
2/10
=
4/50
½
Leena’s
gain
=
3/5
x
2/10
=6/50
½
Jayant’s
new
share=
5/10
+
4/50=29/50
½
Leena’s
new
share
=
3/10
+
6/50
=
21/50
½
New
profit
sharing
ratio
of
Jayant
and
Leena
=
29:21
or
29/50:21/50
1
½
+
½
+
1
+1
=3
Marks
8
7
8
Q.
What
is
meant
by
a
‘Share’?
Give
any
two
differences
between
‘Preference
Shares’
and
‘Equity
Shares’.
Ans.
A
share
refers
to
the
unit
into
which
the
total
share
capital
of
the
company
is
divided.
OR
A
share
means
a
share
in
the
share
capital
of
the
company
and
includes
stock.
Differences
between
‘Preference
Shares’
and
‘Equity
Shares’:
(i)
Preference
Shares
are
shares
which
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
(ii)
Equity
shares
are
shares
which
do
not
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
OR
1
2
Page 4
1
- Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2017-18
Marking Scheme – Accountancy 67/1,67/2,67/3
General Instructions:-
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has
been carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall
be given only after ensuring that there is no significant variation in the marking of individual evaluators.
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the
question should then be totalled up and written in the left hand margin and encircled.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other
answer scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not
given the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer
books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø? Leaving answer or part thereof unassessed in an answer script
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø? Wrong transference of marks from the inside pages of the answer book to the title page.
Ø? Wrong question wise totaling on the title page.
Ø? Wrong totaling of marks of the two columns on the title page
Ø? Wrong grand total
Ø? Marks in words and figures not tallying
Ø? Wrong transference to marks from the answer book to award list
Ø? Answers marked as correct but marks not awarded.
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded
zero(0) Marks.
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage
the prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of
all concerned, It is again reiterated that the instructions be followed meticulously and judiciously.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and
written in figures and words.
17. As per orders of the Hon’ble Supreme Court, the candidates would now be permitted to obtain photocopy of the Answer Book
on request on payment of the prescribed fee. All examiners/Head Examiners are once again reminded that they must ensure
that evaluation is carried out strictly as per value points for each answer as give in the Marking Scheme.
2
.
Q.
Set
No.
Marking
Scheme
2017--18
Accountancy
(055)
Expected
Answers
/
Value
points
Distributio
n
of
marks
67/
1
67/
2
67/
3
1
2
4
Q.
Amit
and
Beena
were
…
acquire
from
Beena?
Ans.
Share
of
profit
acquired
by
Chaman
from
Aman=
1/6
x
2/5
=
2/30
Therefore,
share
of
profit
acquired
by
Chaman
from
Beena
=
1/6
--2/30
=3/30
=
1/10
OR
Share
of
profit
acquired
by
Chaman
from
Beena=
3/5
x
1/6
=
3/30
=
1/10
=1
Mark
2
1
6
Q.
Neetu,
Meetu…Meetu’s
retirement.
Ans.
Books
of
the
firm
Journal
Date
Particulars
LF
Dr
(`)
Cr
(`)
2018
Jan.1
Neetu’s
capital
A/c
Teetu’s
Capital
A/c
To
Meetu’s
Capital
A/c
(Being
Meetu’s
share
of
goodwill
credited
in
her
capital
account
by
debiting
Neetu’s
and
Teetu’s
capital
account
in
the
gaining
ratio)
70,000
70,000
1,40,000
=1
Mark
3
5
1
Q.
Distinguish
between
…liabilities.
Ans.
Basis
Dissolution
of
partnership
Dissolution
of
a
partnership
firm
Settlement
of
assets
and
liabilities
Assets
and
liabilities
are
revalued
and
new
balance
sheet
is
drawn
Assets
are
sold
and
liabilities
are
paid
off
=1
Mark
4
6
3
Q.
Ritesh
and
Hitesh…
your
answer.
Ans.
No,
they
are
not
doing
business
in
partnership
because
they
are
not
involved
in
doing
sale
and
purchase
of
land/
plot
on
a
regular
basis/
Mere
co--ownership
of
a
property
does
not
amount
to
partnership.
½
mark
for
writing
‘No’
+
½
mark
for
the
3
reason
=1
Mark
5
3
2
Q.
Is
Reserve
Capital
a
part
of
‘Unsubscribed
Capital’
or
‘Uncalled
Capital’?
Ans.
Reserve
Capital
is
a
part
of
Uncalled
Capital.
=1
Mark
6
4
5
Q.
Give
the
meaning
of
‘Debentures
issued
as
Collateral
security’.
Ans.
When
the
company
issues
debentures
to
the
lenders
as
an
additonal/
secondary
security,
in
addition
to
other
assets
already
pledged/
some
primary
security.
Such
issue
of
debentures
is
called
debentures
issued
as
a
collateral
security.
=1
Mark
7
8
9
Q.
Jayant,
Kartik
and
Leena…..New
profit
sharing
ratio
of
Jayant
and
Leena.
Ans.
Jayant’s
gain=
2/5
x
2/10
=
4/50
½
Leena’s
gain
=
3/5
x
2/10
=6/50
½
Jayant’s
new
share=
5/10
+
4/50=29/50
½
Leena’s
new
share
=
3/10
+
6/50
=
21/50
½
New
profit
sharing
ratio
of
Jayant
and
Leena
=
29:21
or
29/50:21/50
1
½
+
½
+
1
+1
=3
Marks
8
7
8
Q.
What
is
meant
by
a
‘Share’?
Give
any
two
differences
between
‘Preference
Shares’
and
‘Equity
Shares’.
Ans.
A
share
refers
to
the
unit
into
which
the
total
share
capital
of
the
company
is
divided.
OR
A
share
means
a
share
in
the
share
capital
of
the
company
and
includes
stock.
Differences
between
‘Preference
Shares’
and
‘Equity
Shares’:
(i)
Preference
Shares
are
shares
which
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
(ii)
Equity
shares
are
shares
which
do
not
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
OR
1
2
4
Differences
between
‘Preference
Shares’
and
‘Equity
Shares’:
(Any
two)
Preference
Shares
Equity
Shares
(i)
Share
which
enjoys
preferential
right
at
the
time
of
payment
of
dividend/
Dividend
is
paid
on
preference
shares
before
it
is
paid
on
equity
shares.
Shares
which
do
not
enjoy
preferential
right
at
the
time
of
payment
of
dividend/
Dividend
is
paid
on
equity
shares
after
it
is
paid
on
preference
shares.
(ii)
Enjoy
preferential
right
at
the
time
of
repayment
of
capital.
Do
not
enjoy
preferential
right
at
the
time
of
repayment
of
capital.
(iii)
Rate
of
dividend
may
be
fixed.
Rate
of
dividend
is
proposed
every
year
by
the
directors
and
approved
by
the
shareholders.
(iv)
Preference
shares
may
be
converted
into
equity
shares
if
the
terms
of
issue
provide
for
it.
Equity
shares
are
not
convertible.
(v)
Preference
shareholders
have
voting
rights
in
special
circumstances.
Equity
shareholders
have
voting
rights
in
all
circumstances.
(vi)
Preference
shareholders
do
not
have
the
right
to
participate
in
the
management
of
the
company.
Equity
shareholders
have
the
right
to
participate
in
the
management
of
the
company.
(vii)
Arrears
on
cumulative
preference
shares
are
paid
before
dividend
is
paid
on
equity
shares.
If
dividend
is
not
declared
during
the
year,
it
is
not
accumulated
to
be
paid
the
coming
years.
.
1
x
2
=
2
marks
=
1+2
=
3
Marks
9
10
7
Q.
NK
Ltd.,
a
truck
manufacturing….
Two
values
that
the
company
wants
to
communicate.
Ans.
Balance
Sheet
of
NK
Ltd.
As
at
....................(As
per
revised
schedule
III)
Particulars
Note
No.
Amount
`
Current
year
EQUITY
&
LIABILITIES
I
Shareholders’
funds
:
a) Share
Capital
1
70,00,000
½
Page 5
1
- Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2017-18
Marking Scheme – Accountancy 67/1,67/2,67/3
General Instructions:-
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has
been carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall
be given only after ensuring that there is no significant variation in the marking of individual evaluators.
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the
question should then be totalled up and written in the left hand margin and encircled.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other
answer scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not
given the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer
books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø? Leaving answer or part thereof unassessed in an answer script
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø? Wrong transference of marks from the inside pages of the answer book to the title page.
Ø? Wrong question wise totaling on the title page.
Ø? Wrong totaling of marks of the two columns on the title page
Ø? Wrong grand total
Ø? Marks in words and figures not tallying
Ø? Wrong transference to marks from the answer book to award list
Ø? Answers marked as correct but marks not awarded.
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded
zero(0) Marks.
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage
the prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of
all concerned, It is again reiterated that the instructions be followed meticulously and judiciously.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and
written in figures and words.
17. As per orders of the Hon’ble Supreme Court, the candidates would now be permitted to obtain photocopy of the Answer Book
on request on payment of the prescribed fee. All examiners/Head Examiners are once again reminded that they must ensure
that evaluation is carried out strictly as per value points for each answer as give in the Marking Scheme.
2
.
Q.
Set
No.
Marking
Scheme
2017--18
Accountancy
(055)
Expected
Answers
/
Value
points
Distributio
n
of
marks
67/
1
67/
2
67/
3
1
2
4
Q.
Amit
and
Beena
were
…
acquire
from
Beena?
Ans.
Share
of
profit
acquired
by
Chaman
from
Aman=
1/6
x
2/5
=
2/30
Therefore,
share
of
profit
acquired
by
Chaman
from
Beena
=
1/6
--2/30
=3/30
=
1/10
OR
Share
of
profit
acquired
by
Chaman
from
Beena=
3/5
x
1/6
=
3/30
=
1/10
=1
Mark
2
1
6
Q.
Neetu,
Meetu…Meetu’s
retirement.
Ans.
Books
of
the
firm
Journal
Date
Particulars
LF
Dr
(`)
Cr
(`)
2018
Jan.1
Neetu’s
capital
A/c
Teetu’s
Capital
A/c
To
Meetu’s
Capital
A/c
(Being
Meetu’s
share
of
goodwill
credited
in
her
capital
account
by
debiting
Neetu’s
and
Teetu’s
capital
account
in
the
gaining
ratio)
70,000
70,000
1,40,000
=1
Mark
3
5
1
Q.
Distinguish
between
…liabilities.
Ans.
Basis
Dissolution
of
partnership
Dissolution
of
a
partnership
firm
Settlement
of
assets
and
liabilities
Assets
and
liabilities
are
revalued
and
new
balance
sheet
is
drawn
Assets
are
sold
and
liabilities
are
paid
off
=1
Mark
4
6
3
Q.
Ritesh
and
Hitesh…
your
answer.
Ans.
No,
they
are
not
doing
business
in
partnership
because
they
are
not
involved
in
doing
sale
and
purchase
of
land/
plot
on
a
regular
basis/
Mere
co--ownership
of
a
property
does
not
amount
to
partnership.
½
mark
for
writing
‘No’
+
½
mark
for
the
3
reason
=1
Mark
5
3
2
Q.
Is
Reserve
Capital
a
part
of
‘Unsubscribed
Capital’
or
‘Uncalled
Capital’?
Ans.
Reserve
Capital
is
a
part
of
Uncalled
Capital.
=1
Mark
6
4
5
Q.
Give
the
meaning
of
‘Debentures
issued
as
Collateral
security’.
Ans.
When
the
company
issues
debentures
to
the
lenders
as
an
additonal/
secondary
security,
in
addition
to
other
assets
already
pledged/
some
primary
security.
Such
issue
of
debentures
is
called
debentures
issued
as
a
collateral
security.
=1
Mark
7
8
9
Q.
Jayant,
Kartik
and
Leena…..New
profit
sharing
ratio
of
Jayant
and
Leena.
Ans.
Jayant’s
gain=
2/5
x
2/10
=
4/50
½
Leena’s
gain
=
3/5
x
2/10
=6/50
½
Jayant’s
new
share=
5/10
+
4/50=29/50
½
Leena’s
new
share
=
3/10
+
6/50
=
21/50
½
New
profit
sharing
ratio
of
Jayant
and
Leena
=
29:21
or
29/50:21/50
1
½
+
½
+
1
+1
=3
Marks
8
7
8
Q.
What
is
meant
by
a
‘Share’?
Give
any
two
differences
between
‘Preference
Shares’
and
‘Equity
Shares’.
Ans.
A
share
refers
to
the
unit
into
which
the
total
share
capital
of
the
company
is
divided.
OR
A
share
means
a
share
in
the
share
capital
of
the
company
and
includes
stock.
Differences
between
‘Preference
Shares’
and
‘Equity
Shares’:
(i)
Preference
Shares
are
shares
which
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
(ii)
Equity
shares
are
shares
which
do
not
carry
a
prefrential
right
at
the
time
of
payment
of
dividend
and
at
the
time
of
repayment
of
capital.
OR
1
2
4
Differences
between
‘Preference
Shares’
and
‘Equity
Shares’:
(Any
two)
Preference
Shares
Equity
Shares
(i)
Share
which
enjoys
preferential
right
at
the
time
of
payment
of
dividend/
Dividend
is
paid
on
preference
shares
before
it
is
paid
on
equity
shares.
Shares
which
do
not
enjoy
preferential
right
at
the
time
of
payment
of
dividend/
Dividend
is
paid
on
equity
shares
after
it
is
paid
on
preference
shares.
(ii)
Enjoy
preferential
right
at
the
time
of
repayment
of
capital.
Do
not
enjoy
preferential
right
at
the
time
of
repayment
of
capital.
(iii)
Rate
of
dividend
may
be
fixed.
Rate
of
dividend
is
proposed
every
year
by
the
directors
and
approved
by
the
shareholders.
(iv)
Preference
shares
may
be
converted
into
equity
shares
if
the
terms
of
issue
provide
for
it.
Equity
shares
are
not
convertible.
(v)
Preference
shareholders
have
voting
rights
in
special
circumstances.
Equity
shareholders
have
voting
rights
in
all
circumstances.
(vi)
Preference
shareholders
do
not
have
the
right
to
participate
in
the
management
of
the
company.
Equity
shareholders
have
the
right
to
participate
in
the
management
of
the
company.
(vii)
Arrears
on
cumulative
preference
shares
are
paid
before
dividend
is
paid
on
equity
shares.
If
dividend
is
not
declared
during
the
year,
it
is
not
accumulated
to
be
paid
the
coming
years.
.
1
x
2
=
2
marks
=
1+2
=
3
Marks
9
10
7
Q.
NK
Ltd.,
a
truck
manufacturing….
Two
values
that
the
company
wants
to
communicate.
Ans.
Balance
Sheet
of
NK
Ltd.
As
at
....................(As
per
revised
schedule
III)
Particulars
Note
No.
Amount
`
Current
year
EQUITY
&
LIABILITIES
I
Shareholders’
funds
:
a) Share
Capital
1
70,00,000
½
5
Notes
to
Accounts
:
Particulars
`
1.
Share
Capital
Authorised
Capital
:
1,00,000
equity
shares
of
`
100
each
Issued
Capital
70,000
equity
shares
of
`
100
each
Subscribed
Capital
Subscribed
and
fully
paid
70,000
shares
of
`
100
each
1,00,00,000
70,00,000
70,00,000
Values
(Any
two):
(i)
Concern
for
the
specially
abled.
(ii)
Creation
of
job
opportunities.
(iii)
Development
of
backward
regions.
(Or
any
other
suitable
value)
½
½
½
½
+
½
=3
Marks
10
9
10
Q.
Complete
the
following…VK
Ltd.:
Ans.
VK
Ltd.
Journal
Date
Particulars
LF
Dr.
Amt
(`)
Cr.
Amt
(`)
2018
Feb
01
Own
Debentures
A/c
Dr.
To
Bank
A/c
(Purchased
own
500,
9%
debentures
of
?
100
each
at
?
97
each
for
immediate
cancellation)
48,500
48,500
Feb
01
9%
Debentures
A/c
Dr.
To
Own
Debentures
A/c
To
Profit
on
redemption
of
Debentures
A/c/
Gain
on
cancellation
of
Debentures
A/c
(Cancelled
own
debentures)
50,000
48,500
1,500
Feb
01
Profit
on
redemption
of
Debentures
A/c
/
Gain
on
cancellation
of
Debentures
A/c
Dr.
To
Capital
reserve
A/c
(Profit
on
redemption
transferred
to
capital
reserve)
1,500
1,500
1
1
1
=
3
Marks
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