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Page 1 C B S E C l a s s 1 1 A c c o u n t a n c y T i m e : 3 H o u r s ] [ M a x i m u m M a r k s : 9 0 G e n e r a l I n s t r u c t i o n s : i . T h i s q u e s t i o n p a p e r c o n s i s t s o f t w o p a r t s : A a n d B . B o t h a r e c o m p u l s o r y . T o t a l n u m b e r o f q u e s t i o n i s 2 4 . i i . A t t e m p t a l l p a r t s o f a p a r t i c u l a r q u e s t i o n a t o n e p l a c e . P a r t ' A ' ( F i n a n c i a l A c c o u n t i n g - I ) 1 . N a m e a n y t w o i n t e r n a l u s e r s o f a c c o u n t i n g i n f o r m a t i o n . ( 1 ) 2 . W r i t e a n y o n e l i m i t a t i o n o f a c c o u n t i n g . ( 1 ) 3 . N a m e t h e r e s e r v e t h a t c a n b e u s e d i n d i s t r i b u t i o n o f d i v i d e n d . ( 1 ) 4 . A n o l d m a c h i n e r y w a s s o l d t o M a n i s h f o r ? 5 6 , 0 0 0 , n a m e t h e b o o k s i n w h i c h t h i s e n t r y w i l l b e r e c o r d e d . ( 1 ) 5 . S h o w a n a c c o u n t i n g e q u a t i o n o n t h e b a s i s o f t h e f o l l o w i n g t r a n s a c t i o n s : ( 3 ) i . S t a r t e d b u s i n e s s w i t h c a s h ? 8 0 , 0 0 0 a n d g o o d s ? 7 0 , 0 0 0 . i i . W i t h d r a w c a s h f o r p e r s o n a l u s e ? 2 0 , 0 0 0 . i i i . B o u g h t f u r n i t u r e f o r ? 1 5 , 0 0 0 o n c r e d i t a n d p a i d s a l a r i e s ? 3 , 0 0 0 . 6 . W h a t i s m e a n t b y A c c r u a l B a s i s o f A c c o u n t i n g ? G i v e a n y t w o a d v a n t a g e s o f A c c r u a l b a s i s o f A c c o u n t i n g . ( 1 + 2 = 3 ) 7 . J o u r n a l i s e t h e f o l l o w i n g t r a n s a c t i o n s i n t h e b o o k s o f S a u r a b h : ( 3 ) i . P a i d ? 1 2 , 0 0 0 f o r r e n t . i i . R e c e i v e d ? 1 5 , 0 0 0 f r o m i n s u r a n c e c o m p a n y a g a i n s t a c l a i m ? 2 0 , 0 0 0 f o r l o s s b y f i r e . i i i . P a i d f o r i n s t a l l a t i o n o f m a c h i n e r y ? 1 7 , 0 0 0 . 8 . S t a t e w h e t h e r t h e f o l l o w i n g a c c o u n t s w i l l i n d i c a t e a d e b i t o r c r e d i t b a l a n c e : ( 3 ) i . D r a w i n g i i . A d v a n c e R e n t R e c e i v e d i i i . B a d D e b t s i v . S a l e s R e t u r n v . F u r n i t u r e Page 2 C B S E C l a s s 1 1 A c c o u n t a n c y T i m e : 3 H o u r s ] [ M a x i m u m M a r k s : 9 0 G e n e r a l I n s t r u c t i o n s : i . T h i s q u e s t i o n p a p e r c o n s i s t s o f t w o p a r t s : A a n d B . B o t h a r e c o m p u l s o r y . T o t a l n u m b e r o f q u e s t i o n i s 2 4 . i i . A t t e m p t a l l p a r t s o f a p a r t i c u l a r q u e s t i o n a t o n e p l a c e . P a r t ' A ' ( F i n a n c i a l A c c o u n t i n g - I ) 1 . N a m e a n y t w o i n t e r n a l u s e r s o f a c c o u n t i n g i n f o r m a t i o n . ( 1 ) 2 . W r i t e a n y o n e l i m i t a t i o n o f a c c o u n t i n g . ( 1 ) 3 . N a m e t h e r e s e r v e t h a t c a n b e u s e d i n d i s t r i b u t i o n o f d i v i d e n d . ( 1 ) 4 . A n o l d m a c h i n e r y w a s s o l d t o M a n i s h f o r ? 5 6 , 0 0 0 , n a m e t h e b o o k s i n w h i c h t h i s e n t r y w i l l b e r e c o r d e d . ( 1 ) 5 . S h o w a n a c c o u n t i n g e q u a t i o n o n t h e b a s i s o f t h e f o l l o w i n g t r a n s a c t i o n s : ( 3 ) i . S t a r t e d b u s i n e s s w i t h c a s h ? 8 0 , 0 0 0 a n d g o o d s ? 7 0 , 0 0 0 . i i . W i t h d r a w c a s h f o r p e r s o n a l u s e ? 2 0 , 0 0 0 . i i i . B o u g h t f u r n i t u r e f o r ? 1 5 , 0 0 0 o n c r e d i t a n d p a i d s a l a r i e s ? 3 , 0 0 0 . 6 . W h a t i s m e a n t b y A c c r u a l B a s i s o f A c c o u n t i n g ? G i v e a n y t w o a d v a n t a g e s o f A c c r u a l b a s i s o f A c c o u n t i n g . ( 1 + 2 = 3 ) 7 . J o u r n a l i s e t h e f o l l o w i n g t r a n s a c t i o n s i n t h e b o o k s o f S a u r a b h : ( 3 ) i . P a i d ? 1 2 , 0 0 0 f o r r e n t . i i . R e c e i v e d ? 1 5 , 0 0 0 f r o m i n s u r a n c e c o m p a n y a g a i n s t a c l a i m ? 2 0 , 0 0 0 f o r l o s s b y f i r e . i i i . P a i d f o r i n s t a l l a t i o n o f m a c h i n e r y ? 1 7 , 0 0 0 . 8 . S t a t e w h e t h e r t h e f o l l o w i n g a c c o u n t s w i l l i n d i c a t e a d e b i t o r c r e d i t b a l a n c e : ( 3 ) i . D r a w i n g i i . A d v a n c e R e n t R e c e i v e d i i i . B a d D e b t s i v . S a l e s R e t u r n v . F u r n i t u r e v i . B a n k O v e r d r a f t 9 . S t a t e t h e f o l l o w i n g : ( 4 ) i . D e p r e c i a t i o n i i . R e v e n u e i i i . T r a d e D i s c o u n t i v . C u r r e n t A s s e t s 1 0 . F r o m t h e f o l l o w i n g i n f o r m a t i o n , p r e p a r e B a n k R e c o n c i l i a t i o n S t a t e m e n t a s o n 3 1 s t M a r c h , 2 0 1 6 : ( 4 ) ? i . B a n k o v e r d r a f t a s p e r C a s h B o o k 1 , 7 0 , 0 0 0 i i . D i r e c t l y d e p o s i t e d t o t h e b a n k b y S u d h i r ( c u s t o m e r ) 1 2 , 0 0 0 i i i . C h e q u e s i s s u e d b u t n o t p r e s e n t e d b y p a y m e n t 8 3 , 0 0 0 i v . C h e q u e s e n t e r e d i n C a s h b o o k b u t n o t b a n k e d 4 2 , 0 0 0 1 1 . E x p l a i n a n y t h r e e o f t h e f o l l o w i n g : ( 6 ) i . F u l l D i s c l o s u r e P r i n c i p l e i i . M o n e y M e a s u r e m e n t P r i n c i p l e i i i . M a t e r i a l i t y P r i n c i p l e i v . A c c o u n t i n g P e r i o d P r i n c i p l e 1 2 . R e c t i f y t h e f o l l o w i n g e r r o r s : ( 6 ) i . S o l d o l d f u r n i t u r e t o A f o r ? 1 1 , 5 0 0 w a s p a s s e d t h r o u g h t h e S a l e s B o o k . i i . C r e d i t p u r c h a s e s o f ? 1 2 , 0 0 0 f r o m O j a s o m i t t e d t o b e r e c o r d e d i n t h e b o o k s . i i i . R e p a i r m a d e w e r e d e b i t e d t o B u i l d i n g A c c o u n t ? 7 , 0 0 0 . i v . C r e d i t S a l e o f ? 1 , 8 0 0 t o A v i k a n w a s r e c o r d e d a s ? 8 , 1 0 0 . v . ? 6 , 0 0 0 p a i d f o r o f f i c e f u r n i t u r e w a s d e b i t e d t o o f f i c e e x p e n s e a c c o u n t . v i . A c r e d i t s a l e o f g o o d s o f ? 1 5 , 0 0 0 t o R a m e s h h a s b e e n w r o n g l y p a s s e d t h r o u g h t h e P u r c h a s e s B o o k . 1 3 . A f i r m p u r c h a s e d o n J a n u a r y 1 , 2 0 1 5 a m a c h i n e r y f o r ? 1 , 7 0 , 0 0 0 a n d s p e n t ? 3 0 , 0 0 0 o n i t s i n s t a l l a t i o n . O n J u n e 3 0 , 2 0 1 6 , a n o t h e r m a c h i n e r y c o s t i n g ? 2 , 0 0 , 0 0 0 w a s p u r c h a s e d . O n O c t o b e r 3 1 , 2 0 1 6 m a c h i n e r y b o u g h t o n J a n u a r y 1 , 2 0 1 5 w a s s o l d o f f f o r ? 1 , 5 0 , 0 0 0 a n d n e w m a c h i n e r y f o r ? 3 , 0 0 , 0 0 0 p u r c h a s e d o n t h e s a m e d a t e . D e p r e c i a t i o n i s p r o v i d e d a n n u a l y o n 3 1 s t D e c e m b e r @ 1 0 % p . a . o n w r i t t e n d o w n v a l u e m e t h o d . S h o w m a c h i n e r y a c c o u n t o f 2 0 1 5 a n d 2 0 1 6 . ( 6 ) Page 3 C B S E C l a s s 1 1 A c c o u n t a n c y T i m e : 3 H o u r s ] [ M a x i m u m M a r k s : 9 0 G e n e r a l I n s t r u c t i o n s : i . T h i s q u e s t i o n p a p e r c o n s i s t s o f t w o p a r t s : A a n d B . B o t h a r e c o m p u l s o r y . T o t a l n u m b e r o f q u e s t i o n i s 2 4 . i i . A t t e m p t a l l p a r t s o f a p a r t i c u l a r q u e s t i o n a t o n e p l a c e . P a r t ' A ' ( F i n a n c i a l A c c o u n t i n g - I ) 1 . N a m e a n y t w o i n t e r n a l u s e r s o f a c c o u n t i n g i n f o r m a t i o n . ( 1 ) 2 . W r i t e a n y o n e l i m i t a t i o n o f a c c o u n t i n g . ( 1 ) 3 . N a m e t h e r e s e r v e t h a t c a n b e u s e d i n d i s t r i b u t i o n o f d i v i d e n d . ( 1 ) 4 . A n o l d m a c h i n e r y w a s s o l d t o M a n i s h f o r ? 5 6 , 0 0 0 , n a m e t h e b o o k s i n w h i c h t h i s e n t r y w i l l b e r e c o r d e d . ( 1 ) 5 . S h o w a n a c c o u n t i n g e q u a t i o n o n t h e b a s i s o f t h e f o l l o w i n g t r a n s a c t i o n s : ( 3 ) i . S t a r t e d b u s i n e s s w i t h c a s h ? 8 0 , 0 0 0 a n d g o o d s ? 7 0 , 0 0 0 . i i . W i t h d r a w c a s h f o r p e r s o n a l u s e ? 2 0 , 0 0 0 . i i i . B o u g h t f u r n i t u r e f o r ? 1 5 , 0 0 0 o n c r e d i t a n d p a i d s a l a r i e s ? 3 , 0 0 0 . 6 . W h a t i s m e a n t b y A c c r u a l B a s i s o f A c c o u n t i n g ? G i v e a n y t w o a d v a n t a g e s o f A c c r u a l b a s i s o f A c c o u n t i n g . ( 1 + 2 = 3 ) 7 . J o u r n a l i s e t h e f o l l o w i n g t r a n s a c t i o n s i n t h e b o o k s o f S a u r a b h : ( 3 ) i . P a i d ? 1 2 , 0 0 0 f o r r e n t . i i . R e c e i v e d ? 1 5 , 0 0 0 f r o m i n s u r a n c e c o m p a n y a g a i n s t a c l a i m ? 2 0 , 0 0 0 f o r l o s s b y f i r e . i i i . P a i d f o r i n s t a l l a t i o n o f m a c h i n e r y ? 1 7 , 0 0 0 . 8 . S t a t e w h e t h e r t h e f o l l o w i n g a c c o u n t s w i l l i n d i c a t e a d e b i t o r c r e d i t b a l a n c e : ( 3 ) i . D r a w i n g i i . A d v a n c e R e n t R e c e i v e d i i i . B a d D e b t s i v . S a l e s R e t u r n v . F u r n i t u r e v i . B a n k O v e r d r a f t 9 . S t a t e t h e f o l l o w i n g : ( 4 ) i . D e p r e c i a t i o n i i . R e v e n u e i i i . T r a d e D i s c o u n t i v . C u r r e n t A s s e t s 1 0 . F r o m t h e f o l l o w i n g i n f o r m a t i o n , p r e p a r e B a n k R e c o n c i l i a t i o n S t a t e m e n t a s o n 3 1 s t M a r c h , 2 0 1 6 : ( 4 ) ? i . B a n k o v e r d r a f t a s p e r C a s h B o o k 1 , 7 0 , 0 0 0 i i . D i r e c t l y d e p o s i t e d t o t h e b a n k b y S u d h i r ( c u s t o m e r ) 1 2 , 0 0 0 i i i . C h e q u e s i s s u e d b u t n o t p r e s e n t e d b y p a y m e n t 8 3 , 0 0 0 i v . C h e q u e s e n t e r e d i n C a s h b o o k b u t n o t b a n k e d 4 2 , 0 0 0 1 1 . E x p l a i n a n y t h r e e o f t h e f o l l o w i n g : ( 6 ) i . F u l l D i s c l o s u r e P r i n c i p l e i i . M o n e y M e a s u r e m e n t P r i n c i p l e i i i . M a t e r i a l i t y P r i n c i p l e i v . A c c o u n t i n g P e r i o d P r i n c i p l e 1 2 . R e c t i f y t h e f o l l o w i n g e r r o r s : ( 6 ) i . S o l d o l d f u r n i t u r e t o A f o r ? 1 1 , 5 0 0 w a s p a s s e d t h r o u g h t h e S a l e s B o o k . i i . C r e d i t p u r c h a s e s o f ? 1 2 , 0 0 0 f r o m O j a s o m i t t e d t o b e r e c o r d e d i n t h e b o o k s . i i i . R e p a i r m a d e w e r e d e b i t e d t o B u i l d i n g A c c o u n t ? 7 , 0 0 0 . i v . C r e d i t S a l e o f ? 1 , 8 0 0 t o A v i k a n w a s r e c o r d e d a s ? 8 , 1 0 0 . v . ? 6 , 0 0 0 p a i d f o r o f f i c e f u r n i t u r e w a s d e b i t e d t o o f f i c e e x p e n s e a c c o u n t . v i . A c r e d i t s a l e o f g o o d s o f ? 1 5 , 0 0 0 t o R a m e s h h a s b e e n w r o n g l y p a s s e d t h r o u g h t h e P u r c h a s e s B o o k . 1 3 . A f i r m p u r c h a s e d o n J a n u a r y 1 , 2 0 1 5 a m a c h i n e r y f o r ? 1 , 7 0 , 0 0 0 a n d s p e n t ? 3 0 , 0 0 0 o n i t s i n s t a l l a t i o n . O n J u n e 3 0 , 2 0 1 6 , a n o t h e r m a c h i n e r y c o s t i n g ? 2 , 0 0 , 0 0 0 w a s p u r c h a s e d . O n O c t o b e r 3 1 , 2 0 1 6 m a c h i n e r y b o u g h t o n J a n u a r y 1 , 2 0 1 5 w a s s o l d o f f f o r ? 1 , 5 0 , 0 0 0 a n d n e w m a c h i n e r y f o r ? 3 , 0 0 , 0 0 0 p u r c h a s e d o n t h e s a m e d a t e . D e p r e c i a t i o n i s p r o v i d e d a n n u a l y o n 3 1 s t D e c e m b e r @ 1 0 % p . a . o n w r i t t e n d o w n v a l u e m e t h o d . S h o w m a c h i n e r y a c c o u n t o f 2 0 1 5 a n d 2 0 1 6 . ( 6 ) 1 4 . i . D i s t i n g u i s h b e t w e e n a B i l l o f E x c h a n g e a n d a P r o m i s s o r y N o t e , o n t h e f o l l o w i n g b a s i s : ( 4 + 4 = 8 ) a . D r a w e r b . A c c e p t a n c e c . P a r t i e s d . O r d e r a n d P r o m i s e i i . W r i t e n o t o n t h e f o l l o w i n g : a . D i s h o n o u r o f t h e b i l l b . E n d o r s e m e n t o f t h e B i l l O R O n A p r i l 1 5 , 2 0 1 6 , N e e r a j s o l d g o o d s f o r ? 7 0 , 0 0 0 t o P a r m e s h a n d d r a w u p o n l a t e r a b i l l f o r t h e s a m e a m o u n t p a y a b l e a f t e r 3 m o n t h s . T h e b i l l w a s a c c e p t e d b y P a r m e s h . N e e r a j d i s c o u n t e d t h e b i l l f r o m b a n k f o r ? 6 7 , 0 0 0 o n 3 0 t h A p r i l , 2 0 1 6 . O n m a t u r i t y , t h e b i l l w a s d i s h o n o r e d . P a r m e s h a g r e e d t o p a y ? 3 0 , 0 0 0 i n c a s h i n c l u d i n g ? 2 , 0 0 0 i n t e r e s t a n d a c c e p t e d a n e w b i l l f o r 3 m o n t h s . T h e n e w b i l l w a s e n d o r s e d t o R a j e s h i n f u l l s e t t l e m e n t o f h i s a c c o u n t ? 4 5 , 0 0 0 . I t w a s d u l y m e t o n m a t u r i t y . G i v e t h e J o u r n a l e n t r i e s i n t h e b o o k s o f N e e r a j . P a r t ' B ' : ( F i n a n c i a l A c c o u n t i n g ) 1 5 . O n w h a t b a s i s I n c o m e a n d E x p e n d i t u r e A / c i s p r e p a r e d ? ( 1 ) 1 6 . W r i t e a n y o n e a d v a n t a g e o f T a i l o r - m a d e s o f t w a r e . ( 1 ) 1 7 . W r i t e a n y t h r e e l i m i t a t i o n s o f R e a d y m a d e s o f t w a r e . ( 3 ) 1 8 . C a l c u l a t e c o s t o f g o o d s s o l d f r o m t h e f o l l o w i n g : ( 3 ) O p e n i n g S t o c k - ? 4 0 , 0 0 0 W a g e s & S a l a r i e s - ? 1 0 , 0 0 0 N e t P u r c h a s e s - ? 5 0 , 0 0 0 R e n t P a i d - ? 1 5 , 0 0 0 N e t S a l e s - ? 1 , 9 0 , 0 0 0 C l o s i n g S t o c k - ? 1 5 , 0 0 0 1 9 . R a v i w h o k e e p s h i s b o o k s o n S i n g l e E n t r y S y s t e m , h a d h i s c a p i t a l o n 3 1 s t M a r c h , 2 0 1 6 ? 2 0 , 0 0 0 a n d o n 1 s t A p r i l , 2 0 1 5 w a s ? 1 6 , 7 0 0 . H e f u r t h e r i n f o r m s t h a t d u r i n g t h e y e a r , h e w i t h d r e w f o r h i s p e r s o n a l e x p e n s e s ? 9 , 4 0 0 . H e a l s o s o l d h i s p e r s o n a l i n v e s t m e n t o f ? 1 0 , 0 0 0 a t 1 5 % p r e m i u m a n d b r o u g h t t h a t m o n e y i n t o t h e b u s i n e s s . Page 4 C B S E C l a s s 1 1 A c c o u n t a n c y T i m e : 3 H o u r s ] [ M a x i m u m M a r k s : 9 0 G e n e r a l I n s t r u c t i o n s : i . T h i s q u e s t i o n p a p e r c o n s i s t s o f t w o p a r t s : A a n d B . B o t h a r e c o m p u l s o r y . T o t a l n u m b e r o f q u e s t i o n i s 2 4 . i i . A t t e m p t a l l p a r t s o f a p a r t i c u l a r q u e s t i o n a t o n e p l a c e . P a r t ' A ' ( F i n a n c i a l A c c o u n t i n g - I ) 1 . N a m e a n y t w o i n t e r n a l u s e r s o f a c c o u n t i n g i n f o r m a t i o n . ( 1 ) 2 . W r i t e a n y o n e l i m i t a t i o n o f a c c o u n t i n g . ( 1 ) 3 . N a m e t h e r e s e r v e t h a t c a n b e u s e d i n d i s t r i b u t i o n o f d i v i d e n d . ( 1 ) 4 . A n o l d m a c h i n e r y w a s s o l d t o M a n i s h f o r ? 5 6 , 0 0 0 , n a m e t h e b o o k s i n w h i c h t h i s e n t r y w i l l b e r e c o r d e d . ( 1 ) 5 . S h o w a n a c c o u n t i n g e q u a t i o n o n t h e b a s i s o f t h e f o l l o w i n g t r a n s a c t i o n s : ( 3 ) i . S t a r t e d b u s i n e s s w i t h c a s h ? 8 0 , 0 0 0 a n d g o o d s ? 7 0 , 0 0 0 . i i . W i t h d r a w c a s h f o r p e r s o n a l u s e ? 2 0 , 0 0 0 . i i i . B o u g h t f u r n i t u r e f o r ? 1 5 , 0 0 0 o n c r e d i t a n d p a i d s a l a r i e s ? 3 , 0 0 0 . 6 . W h a t i s m e a n t b y A c c r u a l B a s i s o f A c c o u n t i n g ? G i v e a n y t w o a d v a n t a g e s o f A c c r u a l b a s i s o f A c c o u n t i n g . ( 1 + 2 = 3 ) 7 . J o u r n a l i s e t h e f o l l o w i n g t r a n s a c t i o n s i n t h e b o o k s o f S a u r a b h : ( 3 ) i . P a i d ? 1 2 , 0 0 0 f o r r e n t . i i . R e c e i v e d ? 1 5 , 0 0 0 f r o m i n s u r a n c e c o m p a n y a g a i n s t a c l a i m ? 2 0 , 0 0 0 f o r l o s s b y f i r e . i i i . P a i d f o r i n s t a l l a t i o n o f m a c h i n e r y ? 1 7 , 0 0 0 . 8 . S t a t e w h e t h e r t h e f o l l o w i n g a c c o u n t s w i l l i n d i c a t e a d e b i t o r c r e d i t b a l a n c e : ( 3 ) i . D r a w i n g i i . A d v a n c e R e n t R e c e i v e d i i i . B a d D e b t s i v . S a l e s R e t u r n v . F u r n i t u r e v i . B a n k O v e r d r a f t 9 . S t a t e t h e f o l l o w i n g : ( 4 ) i . D e p r e c i a t i o n i i . R e v e n u e i i i . T r a d e D i s c o u n t i v . C u r r e n t A s s e t s 1 0 . F r o m t h e f o l l o w i n g i n f o r m a t i o n , p r e p a r e B a n k R e c o n c i l i a t i o n S t a t e m e n t a s o n 3 1 s t M a r c h , 2 0 1 6 : ( 4 ) ? i . B a n k o v e r d r a f t a s p e r C a s h B o o k 1 , 7 0 , 0 0 0 i i . D i r e c t l y d e p o s i t e d t o t h e b a n k b y S u d h i r ( c u s t o m e r ) 1 2 , 0 0 0 i i i . C h e q u e s i s s u e d b u t n o t p r e s e n t e d b y p a y m e n t 8 3 , 0 0 0 i v . C h e q u e s e n t e r e d i n C a s h b o o k b u t n o t b a n k e d 4 2 , 0 0 0 1 1 . E x p l a i n a n y t h r e e o f t h e f o l l o w i n g : ( 6 ) i . F u l l D i s c l o s u r e P r i n c i p l e i i . M o n e y M e a s u r e m e n t P r i n c i p l e i i i . M a t e r i a l i t y P r i n c i p l e i v . A c c o u n t i n g P e r i o d P r i n c i p l e 1 2 . R e c t i f y t h e f o l l o w i n g e r r o r s : ( 6 ) i . S o l d o l d f u r n i t u r e t o A f o r ? 1 1 , 5 0 0 w a s p a s s e d t h r o u g h t h e S a l e s B o o k . i i . C r e d i t p u r c h a s e s o f ? 1 2 , 0 0 0 f r o m O j a s o m i t t e d t o b e r e c o r d e d i n t h e b o o k s . i i i . R e p a i r m a d e w e r e d e b i t e d t o B u i l d i n g A c c o u n t ? 7 , 0 0 0 . i v . C r e d i t S a l e o f ? 1 , 8 0 0 t o A v i k a n w a s r e c o r d e d a s ? 8 , 1 0 0 . v . ? 6 , 0 0 0 p a i d f o r o f f i c e f u r n i t u r e w a s d e b i t e d t o o f f i c e e x p e n s e a c c o u n t . v i . A c r e d i t s a l e o f g o o d s o f ? 1 5 , 0 0 0 t o R a m e s h h a s b e e n w r o n g l y p a s s e d t h r o u g h t h e P u r c h a s e s B o o k . 1 3 . A f i r m p u r c h a s e d o n J a n u a r y 1 , 2 0 1 5 a m a c h i n e r y f o r ? 1 , 7 0 , 0 0 0 a n d s p e n t ? 3 0 , 0 0 0 o n i t s i n s t a l l a t i o n . O n J u n e 3 0 , 2 0 1 6 , a n o t h e r m a c h i n e r y c o s t i n g ? 2 , 0 0 , 0 0 0 w a s p u r c h a s e d . O n O c t o b e r 3 1 , 2 0 1 6 m a c h i n e r y b o u g h t o n J a n u a r y 1 , 2 0 1 5 w a s s o l d o f f f o r ? 1 , 5 0 , 0 0 0 a n d n e w m a c h i n e r y f o r ? 3 , 0 0 , 0 0 0 p u r c h a s e d o n t h e s a m e d a t e . D e p r e c i a t i o n i s p r o v i d e d a n n u a l y o n 3 1 s t D e c e m b e r @ 1 0 % p . a . o n w r i t t e n d o w n v a l u e m e t h o d . S h o w m a c h i n e r y a c c o u n t o f 2 0 1 5 a n d 2 0 1 6 . ( 6 ) 1 4 . i . D i s t i n g u i s h b e t w e e n a B i l l o f E x c h a n g e a n d a P r o m i s s o r y N o t e , o n t h e f o l l o w i n g b a s i s : ( 4 + 4 = 8 ) a . D r a w e r b . A c c e p t a n c e c . P a r t i e s d . O r d e r a n d P r o m i s e i i . W r i t e n o t o n t h e f o l l o w i n g : a . D i s h o n o u r o f t h e b i l l b . E n d o r s e m e n t o f t h e B i l l O R O n A p r i l 1 5 , 2 0 1 6 , N e e r a j s o l d g o o d s f o r ? 7 0 , 0 0 0 t o P a r m e s h a n d d r a w u p o n l a t e r a b i l l f o r t h e s a m e a m o u n t p a y a b l e a f t e r 3 m o n t h s . T h e b i l l w a s a c c e p t e d b y P a r m e s h . N e e r a j d i s c o u n t e d t h e b i l l f r o m b a n k f o r ? 6 7 , 0 0 0 o n 3 0 t h A p r i l , 2 0 1 6 . O n m a t u r i t y , t h e b i l l w a s d i s h o n o r e d . P a r m e s h a g r e e d t o p a y ? 3 0 , 0 0 0 i n c a s h i n c l u d i n g ? 2 , 0 0 0 i n t e r e s t a n d a c c e p t e d a n e w b i l l f o r 3 m o n t h s . T h e n e w b i l l w a s e n d o r s e d t o R a j e s h i n f u l l s e t t l e m e n t o f h i s a c c o u n t ? 4 5 , 0 0 0 . I t w a s d u l y m e t o n m a t u r i t y . G i v e t h e J o u r n a l e n t r i e s i n t h e b o o k s o f N e e r a j . P a r t ' B ' : ( F i n a n c i a l A c c o u n t i n g ) 1 5 . O n w h a t b a s i s I n c o m e a n d E x p e n d i t u r e A / c i s p r e p a r e d ? ( 1 ) 1 6 . W r i t e a n y o n e a d v a n t a g e o f T a i l o r - m a d e s o f t w a r e . ( 1 ) 1 7 . W r i t e a n y t h r e e l i m i t a t i o n s o f R e a d y m a d e s o f t w a r e . ( 3 ) 1 8 . C a l c u l a t e c o s t o f g o o d s s o l d f r o m t h e f o l l o w i n g : ( 3 ) O p e n i n g S t o c k - ? 4 0 , 0 0 0 W a g e s & S a l a r i e s - ? 1 0 , 0 0 0 N e t P u r c h a s e s - ? 5 0 , 0 0 0 R e n t P a i d - ? 1 5 , 0 0 0 N e t S a l e s - ? 1 , 9 0 , 0 0 0 C l o s i n g S t o c k - ? 1 5 , 0 0 0 1 9 . R a v i w h o k e e p s h i s b o o k s o n S i n g l e E n t r y S y s t e m , h a d h i s c a p i t a l o n 3 1 s t M a r c h , 2 0 1 6 ? 2 0 , 0 0 0 a n d o n 1 s t A p r i l , 2 0 1 5 w a s ? 1 6 , 7 0 0 . H e f u r t h e r i n f o r m s t h a t d u r i n g t h e y e a r , h e w i t h d r e w f o r h i s p e r s o n a l e x p e n s e s ? 9 , 4 0 0 . H e a l s o s o l d h i s p e r s o n a l i n v e s t m e n t o f ? 1 0 , 0 0 0 a t 1 5 % p r e m i u m a n d b r o u g h t t h a t m o n e y i n t o t h e b u s i n e s s . P r e p a r e a s t a t e m e n t o f P r o f i t o r L o s s . ( 4 ) 2 0 . E x p l a i n t h e a c c o u n t i n g t r e a t m e n t o f t h e s e i t e m s o f ' N o t - f o r p r o f i t o r g a n i s a t i o n ' : ( 4 ) i . L e g a c y i i . E n t r a n c e F e e s 2 1 . S A V E R A C l u b d e c i d e d t o i m p a r t M a r s h a l t r a i n i n g a n d s a f e t y t i p s t o a l l g i r l s a n d w o m a n o f t h e c i t y t o p r o t e c t t h e m a g a i n s t r i s i n g c r i m e a n d e m p o w e r i n g t h e m t o p r o t e c t t h e m s e l v e s i n d a n g e r o u s s i t u a t i o n s . F o l l o w i n g i s t h e i n f o r m a t i o n r e l a t i n g t o s u b s c r i p t i o n s f o r t h e y e a r e n d e d 3 1 s t M a r c h , 2 0 1 6 o f t h e C l u b : S u b s c r i p t i o n s r e c e i v e d d u r i n g 2 0 1 5 - 1 6 ? 7 0 , 0 0 0 S u b s c r i p t i o n o u t s t a n d i n g o n 3 1 s t M a r c h , 2 0 1 5 ? 1 7 , 0 0 0 S u b s c r i p t i o n s r e c e i v e d i n a d v a n c e o n 3 1 s t M a r c h , 2 0 1 5 ? 3 , 2 5 0 S u b s c r i p t i o n s r e c e i v e d i n a d v a n c e o n 3 1 s t M a r c h , 2 0 1 6 ? 4 , 6 7 0 S u b s c r i p t i o n s o u t s t a n d i n g o n 3 1 s t M a r c h , 2 0 1 6 ? 1 1 , 2 5 0 i . I d e n t i f y t h e v a l u e s h i g h l i g h t e d a b o v e . i i . H o w w i l l y o u s h o w t h e s u b s c r i p t i o n i n t h e I n c o m e a n d E x p e n d i t u r e A / c f o r t h e y e a r e n d e d o n 3 1 s t M a r c h , 2 0 1 6 ? ( 1 + 3 = 4 ) 2 2 . i . W r i t e t h e n a m e o f a n y i n p u t d e c i c e s . i i . W h a t d o y o u u n d e r s t a n d b y M . I . S . ? i i i . W r i t e a n y f o u r d i f f e r e n c e s b e t w e e n M a n u a l a n d C o m p u t e r i s e d A c c o u n t i n g S y s t e m . 2 3 . F o l l o w i n g i s t h e R e c e i p t s a n d P a y m e n t s A c c o u n t o f D e l h i h e a l t h C l u b f o r t h e y e a r e n d e d 3 1 s t D e c e m b e r , 2 0 1 6 : R e c e i p t a n d P a y m e n t A c c o u n t s f o r t h e y e a r e n d i n g o n 3 1 s t D e c e m b e r , 2 0 1 6 D r . C r . R e c e i p t ? P a y m e n t ? T o B a l a n c e b / d 9 8 , 0 0 0 B y F u r n i t u r e 2 1 , 0 0 0 T o D o n a t i o n s f o r B u i l d i n g 4 , 0 0 , 0 0 0 B y V e h i c l e s 1 , 0 0 , 0 0 0 T o E n t r a n c e f e e s 1 , 5 0 , 0 0 0 B y S a l a r i e s 8 0 , 0 0 0 T o S u b s c r i p t i o n 9 2 , 0 0 0 B y S u n d r y E x p e n s e s 5 , 0 0 0 Page 5 C B S E C l a s s 1 1 A c c o u n t a n c y T i m e : 3 H o u r s ] [ M a x i m u m M a r k s : 9 0 G e n e r a l I n s t r u c t i o n s : i . T h i s q u e s t i o n p a p e r c o n s i s t s o f t w o p a r t s : A a n d B . B o t h a r e c o m p u l s o r y . T o t a l n u m b e r o f q u e s t i o n i s 2 4 . i i . A t t e m p t a l l p a r t s o f a p a r t i c u l a r q u e s t i o n a t o n e p l a c e . P a r t ' A ' ( F i n a n c i a l A c c o u n t i n g - I ) 1 . N a m e a n y t w o i n t e r n a l u s e r s o f a c c o u n t i n g i n f o r m a t i o n . ( 1 ) 2 . W r i t e a n y o n e l i m i t a t i o n o f a c c o u n t i n g . ( 1 ) 3 . N a m e t h e r e s e r v e t h a t c a n b e u s e d i n d i s t r i b u t i o n o f d i v i d e n d . ( 1 ) 4 . A n o l d m a c h i n e r y w a s s o l d t o M a n i s h f o r ? 5 6 , 0 0 0 , n a m e t h e b o o k s i n w h i c h t h i s e n t r y w i l l b e r e c o r d e d . ( 1 ) 5 . S h o w a n a c c o u n t i n g e q u a t i o n o n t h e b a s i s o f t h e f o l l o w i n g t r a n s a c t i o n s : ( 3 ) i . S t a r t e d b u s i n e s s w i t h c a s h ? 8 0 , 0 0 0 a n d g o o d s ? 7 0 , 0 0 0 . i i . W i t h d r a w c a s h f o r p e r s o n a l u s e ? 2 0 , 0 0 0 . i i i . B o u g h t f u r n i t u r e f o r ? 1 5 , 0 0 0 o n c r e d i t a n d p a i d s a l a r i e s ? 3 , 0 0 0 . 6 . W h a t i s m e a n t b y A c c r u a l B a s i s o f A c c o u n t i n g ? G i v e a n y t w o a d v a n t a g e s o f A c c r u a l b a s i s o f A c c o u n t i n g . ( 1 + 2 = 3 ) 7 . J o u r n a l i s e t h e f o l l o w i n g t r a n s a c t i o n s i n t h e b o o k s o f S a u r a b h : ( 3 ) i . P a i d ? 1 2 , 0 0 0 f o r r e n t . i i . R e c e i v e d ? 1 5 , 0 0 0 f r o m i n s u r a n c e c o m p a n y a g a i n s t a c l a i m ? 2 0 , 0 0 0 f o r l o s s b y f i r e . i i i . P a i d f o r i n s t a l l a t i o n o f m a c h i n e r y ? 1 7 , 0 0 0 . 8 . S t a t e w h e t h e r t h e f o l l o w i n g a c c o u n t s w i l l i n d i c a t e a d e b i t o r c r e d i t b a l a n c e : ( 3 ) i . D r a w i n g i i . A d v a n c e R e n t R e c e i v e d i i i . B a d D e b t s i v . S a l e s R e t u r n v . F u r n i t u r e v i . B a n k O v e r d r a f t 9 . S t a t e t h e f o l l o w i n g : ( 4 ) i . D e p r e c i a t i o n i i . R e v e n u e i i i . T r a d e D i s c o u n t i v . C u r r e n t A s s e t s 1 0 . F r o m t h e f o l l o w i n g i n f o r m a t i o n , p r e p a r e B a n k R e c o n c i l i a t i o n S t a t e m e n t a s o n 3 1 s t M a r c h , 2 0 1 6 : ( 4 ) ? i . B a n k o v e r d r a f t a s p e r C a s h B o o k 1 , 7 0 , 0 0 0 i i . D i r e c t l y d e p o s i t e d t o t h e b a n k b y S u d h i r ( c u s t o m e r ) 1 2 , 0 0 0 i i i . C h e q u e s i s s u e d b u t n o t p r e s e n t e d b y p a y m e n t 8 3 , 0 0 0 i v . C h e q u e s e n t e r e d i n C a s h b o o k b u t n o t b a n k e d 4 2 , 0 0 0 1 1 . E x p l a i n a n y t h r e e o f t h e f o l l o w i n g : ( 6 ) i . F u l l D i s c l o s u r e P r i n c i p l e i i . M o n e y M e a s u r e m e n t P r i n c i p l e i i i . M a t e r i a l i t y P r i n c i p l e i v . A c c o u n t i n g P e r i o d P r i n c i p l e 1 2 . R e c t i f y t h e f o l l o w i n g e r r o r s : ( 6 ) i . S o l d o l d f u r n i t u r e t o A f o r ? 1 1 , 5 0 0 w a s p a s s e d t h r o u g h t h e S a l e s B o o k . i i . C r e d i t p u r c h a s e s o f ? 1 2 , 0 0 0 f r o m O j a s o m i t t e d t o b e r e c o r d e d i n t h e b o o k s . i i i . R e p a i r m a d e w e r e d e b i t e d t o B u i l d i n g A c c o u n t ? 7 , 0 0 0 . i v . C r e d i t S a l e o f ? 1 , 8 0 0 t o A v i k a n w a s r e c o r d e d a s ? 8 , 1 0 0 . v . ? 6 , 0 0 0 p a i d f o r o f f i c e f u r n i t u r e w a s d e b i t e d t o o f f i c e e x p e n s e a c c o u n t . v i . A c r e d i t s a l e o f g o o d s o f ? 1 5 , 0 0 0 t o R a m e s h h a s b e e n w r o n g l y p a s s e d t h r o u g h t h e P u r c h a s e s B o o k . 1 3 . A f i r m p u r c h a s e d o n J a n u a r y 1 , 2 0 1 5 a m a c h i n e r y f o r ? 1 , 7 0 , 0 0 0 a n d s p e n t ? 3 0 , 0 0 0 o n i t s i n s t a l l a t i o n . O n J u n e 3 0 , 2 0 1 6 , a n o t h e r m a c h i n e r y c o s t i n g ? 2 , 0 0 , 0 0 0 w a s p u r c h a s e d . O n O c t o b e r 3 1 , 2 0 1 6 m a c h i n e r y b o u g h t o n J a n u a r y 1 , 2 0 1 5 w a s s o l d o f f f o r ? 1 , 5 0 , 0 0 0 a n d n e w m a c h i n e r y f o r ? 3 , 0 0 , 0 0 0 p u r c h a s e d o n t h e s a m e d a t e . D e p r e c i a t i o n i s p r o v i d e d a n n u a l y o n 3 1 s t D e c e m b e r @ 1 0 % p . a . o n w r i t t e n d o w n v a l u e m e t h o d . S h o w m a c h i n e r y a c c o u n t o f 2 0 1 5 a n d 2 0 1 6 . ( 6 ) 1 4 . i . D i s t i n g u i s h b e t w e e n a B i l l o f E x c h a n g e a n d a P r o m i s s o r y N o t e , o n t h e f o l l o w i n g b a s i s : ( 4 + 4 = 8 ) a . D r a w e r b . A c c e p t a n c e c . P a r t i e s d . O r d e r a n d P r o m i s e i i . W r i t e n o t o n t h e f o l l o w i n g : a . D i s h o n o u r o f t h e b i l l b . E n d o r s e m e n t o f t h e B i l l O R O n A p r i l 1 5 , 2 0 1 6 , N e e r a j s o l d g o o d s f o r ? 7 0 , 0 0 0 t o P a r m e s h a n d d r a w u p o n l a t e r a b i l l f o r t h e s a m e a m o u n t p a y a b l e a f t e r 3 m o n t h s . T h e b i l l w a s a c c e p t e d b y P a r m e s h . N e e r a j d i s c o u n t e d t h e b i l l f r o m b a n k f o r ? 6 7 , 0 0 0 o n 3 0 t h A p r i l , 2 0 1 6 . O n m a t u r i t y , t h e b i l l w a s d i s h o n o r e d . P a r m e s h a g r e e d t o p a y ? 3 0 , 0 0 0 i n c a s h i n c l u d i n g ? 2 , 0 0 0 i n t e r e s t a n d a c c e p t e d a n e w b i l l f o r 3 m o n t h s . T h e n e w b i l l w a s e n d o r s e d t o R a j e s h i n f u l l s e t t l e m e n t o f h i s a c c o u n t ? 4 5 , 0 0 0 . I t w a s d u l y m e t o n m a t u r i t y . G i v e t h e J o u r n a l e n t r i e s i n t h e b o o k s o f N e e r a j . P a r t ' B ' : ( F i n a n c i a l A c c o u n t i n g ) 1 5 . O n w h a t b a s i s I n c o m e a n d E x p e n d i t u r e A / c i s p r e p a r e d ? ( 1 ) 1 6 . W r i t e a n y o n e a d v a n t a g e o f T a i l o r - m a d e s o f t w a r e . ( 1 ) 1 7 . W r i t e a n y t h r e e l i m i t a t i o n s o f R e a d y m a d e s o f t w a r e . ( 3 ) 1 8 . C a l c u l a t e c o s t o f g o o d s s o l d f r o m t h e f o l l o w i n g : ( 3 ) O p e n i n g S t o c k - ? 4 0 , 0 0 0 W a g e s & S a l a r i e s - ? 1 0 , 0 0 0 N e t P u r c h a s e s - ? 5 0 , 0 0 0 R e n t P a i d - ? 1 5 , 0 0 0 N e t S a l e s - ? 1 , 9 0 , 0 0 0 C l o s i n g S t o c k - ? 1 5 , 0 0 0 1 9 . R a v i w h o k e e p s h i s b o o k s o n S i n g l e E n t r y S y s t e m , h a d h i s c a p i t a l o n 3 1 s t M a r c h , 2 0 1 6 ? 2 0 , 0 0 0 a n d o n 1 s t A p r i l , 2 0 1 5 w a s ? 1 6 , 7 0 0 . H e f u r t h e r i n f o r m s t h a t d u r i n g t h e y e a r , h e w i t h d r e w f o r h i s p e r s o n a l e x p e n s e s ? 9 , 4 0 0 . H e a l s o s o l d h i s p e r s o n a l i n v e s t m e n t o f ? 1 0 , 0 0 0 a t 1 5 % p r e m i u m a n d b r o u g h t t h a t m o n e y i n t o t h e b u s i n e s s . P r e p a r e a s t a t e m e n t o f P r o f i t o r L o s s . ( 4 ) 2 0 . E x p l a i n t h e a c c o u n t i n g t r e a t m e n t o f t h e s e i t e m s o f ' N o t - f o r p r o f i t o r g a n i s a t i o n ' : ( 4 ) i . L e g a c y i i . E n t r a n c e F e e s 2 1 . S A V E R A C l u b d e c i d e d t o i m p a r t M a r s h a l t r a i n i n g a n d s a f e t y t i p s t o a l l g i r l s a n d w o m a n o f t h e c i t y t o p r o t e c t t h e m a g a i n s t r i s i n g c r i m e a n d e m p o w e r i n g t h e m t o p r o t e c t t h e m s e l v e s i n d a n g e r o u s s i t u a t i o n s . F o l l o w i n g i s t h e i n f o r m a t i o n r e l a t i n g t o s u b s c r i p t i o n s f o r t h e y e a r e n d e d 3 1 s t M a r c h , 2 0 1 6 o f t h e C l u b : S u b s c r i p t i o n s r e c e i v e d d u r i n g 2 0 1 5 - 1 6 ? 7 0 , 0 0 0 S u b s c r i p t i o n o u t s t a n d i n g o n 3 1 s t M a r c h , 2 0 1 5 ? 1 7 , 0 0 0 S u b s c r i p t i o n s r e c e i v e d i n a d v a n c e o n 3 1 s t M a r c h , 2 0 1 5 ? 3 , 2 5 0 S u b s c r i p t i o n s r e c e i v e d i n a d v a n c e o n 3 1 s t M a r c h , 2 0 1 6 ? 4 , 6 7 0 S u b s c r i p t i o n s o u t s t a n d i n g o n 3 1 s t M a r c h , 2 0 1 6 ? 1 1 , 2 5 0 i . I d e n t i f y t h e v a l u e s h i g h l i g h t e d a b o v e . i i . H o w w i l l y o u s h o w t h e s u b s c r i p t i o n i n t h e I n c o m e a n d E x p e n d i t u r e A / c f o r t h e y e a r e n d e d o n 3 1 s t M a r c h , 2 0 1 6 ? ( 1 + 3 = 4 ) 2 2 . i . W r i t e t h e n a m e o f a n y i n p u t d e c i c e s . i i . W h a t d o y o u u n d e r s t a n d b y M . I . S . ? i i i . W r i t e a n y f o u r d i f f e r e n c e s b e t w e e n M a n u a l a n d C o m p u t e r i s e d A c c o u n t i n g S y s t e m . 2 3 . F o l l o w i n g i s t h e R e c e i p t s a n d P a y m e n t s A c c o u n t o f D e l h i h e a l t h C l u b f o r t h e y e a r e n d e d 3 1 s t D e c e m b e r , 2 0 1 6 : R e c e i p t a n d P a y m e n t A c c o u n t s f o r t h e y e a r e n d i n g o n 3 1 s t D e c e m b e r , 2 0 1 6 D r . C r . R e c e i p t ? P a y m e n t ? T o B a l a n c e b / d 9 8 , 0 0 0 B y F u r n i t u r e 2 1 , 0 0 0 T o D o n a t i o n s f o r B u i l d i n g 4 , 0 0 , 0 0 0 B y V e h i c l e s 1 , 0 0 , 0 0 0 T o E n t r a n c e f e e s 1 , 5 0 , 0 0 0 B y S a l a r i e s 8 0 , 0 0 0 T o S u b s c r i p t i o n 9 2 , 0 0 0 B y S u n d r y E x p e n s e s 5 , 0 0 0 T o L o c k e r R e n t 1 0 , 0 0 0 B y B u i l d i n g 4 , 0 0 , 0 0 0 T o I n t e r e s t o n I n v e s t m e n t 1 0 , 0 0 0 B y I n v e s t m e n t P u r c h a s e d o n A p r i l 2 0 1 6 @ 2 0 % p . a . ) 8 0 , 0 0 0 T o S a l e o f V e h i c l e s ( B o o k v a l u e 9 0 , 0 0 0 ) 7 8 , 0 0 0 B y B a l a n c e c / d 1 , 5 2 , 0 0 0 8 , 3 8 , 0 0 0 8 , 3 8 , 0 0 0 A d d i t i o n a l I n f o r m a t i o n : i . D o n a t i o n s f o r B u i l d i n g i n c l u d e 2 0 % g e n e r a l d o n a t i o n s . i i . D u r i n g t h e y e a r , t h e c l u b h a s 6 0 0 m e m b e r s a n d e a c h p a y i n g a n a n n u a l s u b s c r i p t i o n o f ? 2 0 0 . i i i . O u t s t a n d i n g I n c o m e a n d E x p e n d i t u r e A c c o u n t o f t h e c l u b f o r t h e y e a r e n d e d 3 1 s t D e c e m b e r , 2 0 1 6 . 2 4 . P r e p a r e T r a d i n g a n d P r o f i t a n d L o s s A c c o u n t a n d B a l a n c e S h e e t f r o m t h e f o l l o w i n g T r i a l B a l a n c e a n d i n f o r m a t i o n a s o n 3 1 s t D e c e m b e r , 2 0 1 6 : N a m e o f A c c o u n t D r . ( ? ) C r . ( ? ) S t o c k ( 1 s t J a n u a r y , 2 0 1 6 ) 1 6 , 0 0 0 S a l e s 7 , 0 0 , 0 0 0 P u r c h a s e s 3 , 0 0 , 0 0 0 W a g e s 4 0 , 0 0 0 R e n t a n d R a t e s 3 0 , 0 0 0 S a l a r i e s 4 6 , 0 0 0 I n s u r a n c e 1 5 , 0 0 0 M a c h i n e r y 7 2 , 0 0 0 B u i l d i n g 1 1 , 5 0 , 0 0 0 C a p i t a l l e s s D r a w i n g 6 , 0 0 , 0 0 0 S u n d r y D e b t o r s 6 5 , 0 0 0 S u n d r y C r e d i t o r s 3 2 , 0 0 0Read More
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FAQs on Question Paper 2017 (Set 1) - Additional Study Material for Commerce
| 1. What are the main subjects included in Commerce exams? |  |
Ans. The main subjects included in Commerce exams are Accounting, Economics, Business Studies, Mathematics, and English.
| 2. How can I prepare effectively for Commerce exams? | |
Ans. To prepare effectively for Commerce exams, it is important to create a study schedule, understand the concepts thoroughly, practice solving previous year question papers, take mock tests, and seek guidance from teachers or tutors if needed.
| 3. What career options are available after completing a Commerce degree? | |
Ans. There are various career options available after completing a Commerce degree, such as becoming a Chartered Accountant, Financial Analyst, Investment Banker, Marketing Manager, Human Resource Manager, or Entrepreneur.
| 4. What are the essential skills required for a successful career in Commerce? | |
Ans. Essential skills for a successful career in Commerce include strong analytical and problem-solving skills, excellent numerical ability, good communication and interpersonal skills, attention to detail, and proficiency in using financial software and tools.
| 5. Are there any scholarships available for Commerce students? | |
Ans. Yes, there are scholarships available for Commerce students. Many universities, government organizations, and private institutions offer scholarships based on academic merit, financial need, and specific criteria. Students can research and apply for these scholarships to support their education expenses.
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