Sample Question Paper 2 - Accountancy, Class 11 Commerce Notes | EduRev

Sample Papers for Class 11 Commerce

Class 11 : Sample Question Paper 2 - Accountancy, Class 11 Commerce Notes | EduRev

 Page 1


  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 2 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Rohit, a businessman, had paid the school fee of his daughter from the business. Is this a 
business transaction? Give reason.  [1] 
 
2. Choose the correct answer from the options given below: [1] 
If there is current probability of outflow of uncertain funds for settlement of an obligation, 
which of the following is said to be recognized? 
a) Loan 
b) Liability 
c) Provision 
d) Contingent Liability 
 
3. Choose the correct answer from the options given below: [1] 
Which of the following is shown in the trial balance? 
a) Journal Folio 
b) List of Account Balances 
c) Date of Recording the transactions 
d) All of the above 
 
4. Choose the correct answer from the options given below: [1] 
Which of the following accounts should be debited for the goods worth `3,000 
withdrawn for personal use? 
a) Sales A/c 
b) Drawings A/c 
c) Purchases A/c 
d) Stock A/c 
 
5. Choose the correct answer from the options given below: [1] 
When double entry system is followed to record the business transactions then: 
a) Debit and credit amount must be equal 
b) Debit and credit amount may be equal 
c) Only two accounts are affected 
Page 2


  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 2 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Rohit, a businessman, had paid the school fee of his daughter from the business. Is this a 
business transaction? Give reason.  [1] 
 
2. Choose the correct answer from the options given below: [1] 
If there is current probability of outflow of uncertain funds for settlement of an obligation, 
which of the following is said to be recognized? 
a) Loan 
b) Liability 
c) Provision 
d) Contingent Liability 
 
3. Choose the correct answer from the options given below: [1] 
Which of the following is shown in the trial balance? 
a) Journal Folio 
b) List of Account Balances 
c) Date of Recording the transactions 
d) All of the above 
 
4. Choose the correct answer from the options given below: [1] 
Which of the following accounts should be debited for the goods worth `3,000 
withdrawn for personal use? 
a) Sales A/c 
b) Drawings A/c 
c) Purchases A/c 
d) Stock A/c 
 
5. Choose the correct answer from the options given below: [1] 
When double entry system is followed to record the business transactions then: 
a) Debit and credit amount must be equal 
b) Debit and credit amount may be equal 
c) Only two accounts are affected 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
d) Balance of one account increases and other account decreases 
 
6. Choose the correct answer from the options given below: [1] 
Which of the following is not a personal account? 
a) Bank Account 
b) Drawings Account 
c) Proprietor’s Account 
d) Livestock Account 
 
7. Give two differences between cash basis and accrual basis of accounting.  [1] 
 
8. Choose the correct answer from the options given below: [1] 
In case loan is taken to purchase goods, then two accounts that are affected are: 
a) Stock and Capital 
b) Capital and Liability 
c) Stock and Liability 
d) Cash and Stock 
 
9. In which accounting outstanding expenses are not recorded?  [1] 
 
10. Choose the correct answer from the options given below: [1] 
If the owner withdraws cash or goods for his personal use, it is known as  
a) Drawings 
b) Personal Expenses 
c) Goods in Transit 
d) Abnormal Loss 
 
11. Choose the correct answer from the options given below: [1] 
Cash sales 1.5 times of credit sales, Credit sales `1, 20,000, Purchases `1, 40,000, Rate 
of Gross Profit 25% on cost. What is the value of closing stock? 
a) `25,000 
b) `30,000 
c) `1,20,000 
d) `60,000 
 
12. Give any two differences between Book Keeping and Accounting.  [1] 
 
13. Choose the correct answer from the options given below: [1] 
Which of the following is not a Party to a bill of exchange? 
a) Payee 
b) Drawee 
c) Signatory  
d) Drawer 
Page 3


  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 2 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Rohit, a businessman, had paid the school fee of his daughter from the business. Is this a 
business transaction? Give reason.  [1] 
 
2. Choose the correct answer from the options given below: [1] 
If there is current probability of outflow of uncertain funds for settlement of an obligation, 
which of the following is said to be recognized? 
a) Loan 
b) Liability 
c) Provision 
d) Contingent Liability 
 
3. Choose the correct answer from the options given below: [1] 
Which of the following is shown in the trial balance? 
a) Journal Folio 
b) List of Account Balances 
c) Date of Recording the transactions 
d) All of the above 
 
4. Choose the correct answer from the options given below: [1] 
Which of the following accounts should be debited for the goods worth `3,000 
withdrawn for personal use? 
a) Sales A/c 
b) Drawings A/c 
c) Purchases A/c 
d) Stock A/c 
 
5. Choose the correct answer from the options given below: [1] 
When double entry system is followed to record the business transactions then: 
a) Debit and credit amount must be equal 
b) Debit and credit amount may be equal 
c) Only two accounts are affected 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
d) Balance of one account increases and other account decreases 
 
6. Choose the correct answer from the options given below: [1] 
Which of the following is not a personal account? 
a) Bank Account 
b) Drawings Account 
c) Proprietor’s Account 
d) Livestock Account 
 
7. Give two differences between cash basis and accrual basis of accounting.  [1] 
 
8. Choose the correct answer from the options given below: [1] 
In case loan is taken to purchase goods, then two accounts that are affected are: 
a) Stock and Capital 
b) Capital and Liability 
c) Stock and Liability 
d) Cash and Stock 
 
9. In which accounting outstanding expenses are not recorded?  [1] 
 
10. Choose the correct answer from the options given below: [1] 
If the owner withdraws cash or goods for his personal use, it is known as  
a) Drawings 
b) Personal Expenses 
c) Goods in Transit 
d) Abnormal Loss 
 
11. Choose the correct answer from the options given below: [1] 
Cash sales 1.5 times of credit sales, Credit sales `1, 20,000, Purchases `1, 40,000, Rate 
of Gross Profit 25% on cost. What is the value of closing stock? 
a) `25,000 
b) `30,000 
c) `1,20,000 
d) `60,000 
 
12. Give any two differences between Book Keeping and Accounting.  [1] 
 
13. Choose the correct answer from the options given below: [1] 
Which of the following is not a Party to a bill of exchange? 
a) Payee 
b) Drawee 
c) Signatory  
d) Drawer 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
14. Pass journal Entries:  [3] 
1. An old machine with book value of `40,000 is exchanged for a new machine of `1, 
20,000. The old machine is valued at `30,000 for the exchange purpose by X Ltd. 
2. Rent paid `6,000, half of premises used by owner for his personal use. 
3. Ram became insolvent and a final dividend of 50 paisa in a rupee was received for a 
debt of `1,000 
(OR) 
Explain the following terms:   
1. Stock  
2. Loss  
3. Depreciation 
 
15. Rectifying the following errors:  [4] 
1. Total of Returns inward book `800 was not posted. 
2. Purchase of `750 from Shyam wrongly entered in sales book. 
3. An item of `45 has been debited to a personal A/c as `54. 
4. `1,000 paid as salary to a manager has been debited to his personal A/c. 
 
16. Mrs. Payal started a business with a capital of `6, 00,000 on 1 July 2008. She took a loan 
of `1, 00,000 from her friend @10% p.a. and introduced `2, 00,000 as additional capital. 
On 31 December 2008 her position was as:   [4] 
Cash `90,000, Stock `5, 90,000, Debtors `6, 00,000, Creditors `3, 00,000.  She withdrew 
`10,000 p.m. for personal use. Find out profit or loss presuming interest on loan is yet 
to be paid.   
(OR) 
(a) Calculate total assets: Capital `40,000, Creditors `30,000, Revenue earned `75,000, 
Expenses `20,000. 
(b) What are Accounting Vouchers? 
 
17. Prepare a Trial Balance:  [4] 
Particulars (`) 
Capital  1,00,000 
Machinery  20,000 
Purchases  2,10,000 
Drawings  16,000 
Sales  2,00,000 
Sales Returns  20,000 
Purchase Returns  30,000 
Wages  40,000 
Discount Allowed  6,000 
Bank loan  90,000 
Stock  16,000 
Roopa (Dr.) 20,000 
Page 4


  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 2 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Rohit, a businessman, had paid the school fee of his daughter from the business. Is this a 
business transaction? Give reason.  [1] 
 
2. Choose the correct answer from the options given below: [1] 
If there is current probability of outflow of uncertain funds for settlement of an obligation, 
which of the following is said to be recognized? 
a) Loan 
b) Liability 
c) Provision 
d) Contingent Liability 
 
3. Choose the correct answer from the options given below: [1] 
Which of the following is shown in the trial balance? 
a) Journal Folio 
b) List of Account Balances 
c) Date of Recording the transactions 
d) All of the above 
 
4. Choose the correct answer from the options given below: [1] 
Which of the following accounts should be debited for the goods worth `3,000 
withdrawn for personal use? 
a) Sales A/c 
b) Drawings A/c 
c) Purchases A/c 
d) Stock A/c 
 
5. Choose the correct answer from the options given below: [1] 
When double entry system is followed to record the business transactions then: 
a) Debit and credit amount must be equal 
b) Debit and credit amount may be equal 
c) Only two accounts are affected 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
d) Balance of one account increases and other account decreases 
 
6. Choose the correct answer from the options given below: [1] 
Which of the following is not a personal account? 
a) Bank Account 
b) Drawings Account 
c) Proprietor’s Account 
d) Livestock Account 
 
7. Give two differences between cash basis and accrual basis of accounting.  [1] 
 
8. Choose the correct answer from the options given below: [1] 
In case loan is taken to purchase goods, then two accounts that are affected are: 
a) Stock and Capital 
b) Capital and Liability 
c) Stock and Liability 
d) Cash and Stock 
 
9. In which accounting outstanding expenses are not recorded?  [1] 
 
10. Choose the correct answer from the options given below: [1] 
If the owner withdraws cash or goods for his personal use, it is known as  
a) Drawings 
b) Personal Expenses 
c) Goods in Transit 
d) Abnormal Loss 
 
11. Choose the correct answer from the options given below: [1] 
Cash sales 1.5 times of credit sales, Credit sales `1, 20,000, Purchases `1, 40,000, Rate 
of Gross Profit 25% on cost. What is the value of closing stock? 
a) `25,000 
b) `30,000 
c) `1,20,000 
d) `60,000 
 
12. Give any two differences between Book Keeping and Accounting.  [1] 
 
13. Choose the correct answer from the options given below: [1] 
Which of the following is not a Party to a bill of exchange? 
a) Payee 
b) Drawee 
c) Signatory  
d) Drawer 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
14. Pass journal Entries:  [3] 
1. An old machine with book value of `40,000 is exchanged for a new machine of `1, 
20,000. The old machine is valued at `30,000 for the exchange purpose by X Ltd. 
2. Rent paid `6,000, half of premises used by owner for his personal use. 
3. Ram became insolvent and a final dividend of 50 paisa in a rupee was received for a 
debt of `1,000 
(OR) 
Explain the following terms:   
1. Stock  
2. Loss  
3. Depreciation 
 
15. Rectifying the following errors:  [4] 
1. Total of Returns inward book `800 was not posted. 
2. Purchase of `750 from Shyam wrongly entered in sales book. 
3. An item of `45 has been debited to a personal A/c as `54. 
4. `1,000 paid as salary to a manager has been debited to his personal A/c. 
 
16. Mrs. Payal started a business with a capital of `6, 00,000 on 1 July 2008. She took a loan 
of `1, 00,000 from her friend @10% p.a. and introduced `2, 00,000 as additional capital. 
On 31 December 2008 her position was as:   [4] 
Cash `90,000, Stock `5, 90,000, Debtors `6, 00,000, Creditors `3, 00,000.  She withdrew 
`10,000 p.m. for personal use. Find out profit or loss presuming interest on loan is yet 
to be paid.   
(OR) 
(a) Calculate total assets: Capital `40,000, Creditors `30,000, Revenue earned `75,000, 
Expenses `20,000. 
(b) What are Accounting Vouchers? 
 
17. Prepare a Trial Balance:  [4] 
Particulars (`) 
Capital  1,00,000 
Machinery  20,000 
Purchases  2,10,000 
Drawings  16,000 
Sales  2,00,000 
Sales Returns  20,000 
Purchase Returns  30,000 
Wages  40,000 
Discount Allowed  6,000 
Bank loan  90,000 
Stock  16,000 
Roopa (Dr.) 20,000 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
Cash  54,000 
Goodwill  60,000 
Interest Received  15,000 
Bank O/D 22,000 
Nathu (Dr.) 55,000 
Ganesh (cr.) 25,000 
Reena (cr.) 35,000 
 
18. (a) State with reason weather the following are revenue or capital expenditure:  [4] 
1. `1,000 spent on repairing a second hand machine before put to use. 
2. `5,000 on repainting the factory. 
(b) What do you mean by Specific Reserve?  
 
19. (a) P purchased 1,000 Sq. Meter Land for `3 crores to build a factory. At the end of the 
year market value of land was `2.70 crores. P treated `30 lakhs as loss and recorded the 
land at `2.70 crores. Is this a correct treatment?   
(b) Shibani dealing in electronic goods sold 20 TV sets costing 30,000 each at `40,000 
each. Out of this `5,00,000 were received in cash and the balance is not received yet. 
State the amount of revenue.   
(c) The factory workers of XYZ Ltd. went on a labour strike as a result the production 
had to stop for a week. The owner estimated the loss of production and the likely loss of 
profit due to this situation and accordingly directed his accountant to book a loss in the 
accounts. The accountant did the same. Was the accountant correct in recording the 
likely loss? Give suitable reasons in support of your answer.  [6] 
(OR) 
A company purchased a machine for `5,00,000 (including a boiler worth for `1,00,000). 
Company provides depreciation @10% as per straight line method. After four years 
boiler became useless and it was discarded for `20,000. Prepare machine A/c for four 
Years. 
 
20. Prepare a bank reconciliation statement.  [6] 
(i) Debit Balance shown by bank statement `20,000 
(ii) Cheques of `16,500 were issued in last week of March but only of `11,000 were 
presented for the payment.  
(iii) A bill of exchange of `2,000 discounted with the bank was returned dishonoured 
but no entry made in the cash book. 
(iv) A cheque of `5,000 received from Mr. Nikhil on March 24, 2017 was recorded in 
the discount column of Cash Book and was not banked. 
(v) As per the bank pass book, bank collected `2,500 as interest on securities and 
charged `700 & `200 as interest on loan and bank charges. These were not 
recorded in the Cash Book. 
(vi) Credit transfer of `1,000 was not recorded in the Cash Book. 
(vii) Interest debited by bank but not recorded in the Cash Book `1,500. 
Page 5


  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
CBSE 
Class XI Accountancy 
Sample Paper – 2 
Time: 3 hours Max. Marks: 80 
  
General Instructions: 
1. All questions are compulsory.  
2. Show your working notes clearly. 
 
Part A 
 
1. Rohit, a businessman, had paid the school fee of his daughter from the business. Is this a 
business transaction? Give reason.  [1] 
 
2. Choose the correct answer from the options given below: [1] 
If there is current probability of outflow of uncertain funds for settlement of an obligation, 
which of the following is said to be recognized? 
a) Loan 
b) Liability 
c) Provision 
d) Contingent Liability 
 
3. Choose the correct answer from the options given below: [1] 
Which of the following is shown in the trial balance? 
a) Journal Folio 
b) List of Account Balances 
c) Date of Recording the transactions 
d) All of the above 
 
4. Choose the correct answer from the options given below: [1] 
Which of the following accounts should be debited for the goods worth `3,000 
withdrawn for personal use? 
a) Sales A/c 
b) Drawings A/c 
c) Purchases A/c 
d) Stock A/c 
 
5. Choose the correct answer from the options given below: [1] 
When double entry system is followed to record the business transactions then: 
a) Debit and credit amount must be equal 
b) Debit and credit amount may be equal 
c) Only two accounts are affected 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
d) Balance of one account increases and other account decreases 
 
6. Choose the correct answer from the options given below: [1] 
Which of the following is not a personal account? 
a) Bank Account 
b) Drawings Account 
c) Proprietor’s Account 
d) Livestock Account 
 
7. Give two differences between cash basis and accrual basis of accounting.  [1] 
 
8. Choose the correct answer from the options given below: [1] 
In case loan is taken to purchase goods, then two accounts that are affected are: 
a) Stock and Capital 
b) Capital and Liability 
c) Stock and Liability 
d) Cash and Stock 
 
9. In which accounting outstanding expenses are not recorded?  [1] 
 
10. Choose the correct answer from the options given below: [1] 
If the owner withdraws cash or goods for his personal use, it is known as  
a) Drawings 
b) Personal Expenses 
c) Goods in Transit 
d) Abnormal Loss 
 
11. Choose the correct answer from the options given below: [1] 
Cash sales 1.5 times of credit sales, Credit sales `1, 20,000, Purchases `1, 40,000, Rate 
of Gross Profit 25% on cost. What is the value of closing stock? 
a) `25,000 
b) `30,000 
c) `1,20,000 
d) `60,000 
 
12. Give any two differences between Book Keeping and Accounting.  [1] 
 
13. Choose the correct answer from the options given below: [1] 
Which of the following is not a Party to a bill of exchange? 
a) Payee 
b) Drawee 
c) Signatory  
d) Drawer 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
14. Pass journal Entries:  [3] 
1. An old machine with book value of `40,000 is exchanged for a new machine of `1, 
20,000. The old machine is valued at `30,000 for the exchange purpose by X Ltd. 
2. Rent paid `6,000, half of premises used by owner for his personal use. 
3. Ram became insolvent and a final dividend of 50 paisa in a rupee was received for a 
debt of `1,000 
(OR) 
Explain the following terms:   
1. Stock  
2. Loss  
3. Depreciation 
 
15. Rectifying the following errors:  [4] 
1. Total of Returns inward book `800 was not posted. 
2. Purchase of `750 from Shyam wrongly entered in sales book. 
3. An item of `45 has been debited to a personal A/c as `54. 
4. `1,000 paid as salary to a manager has been debited to his personal A/c. 
 
16. Mrs. Payal started a business with a capital of `6, 00,000 on 1 July 2008. She took a loan 
of `1, 00,000 from her friend @10% p.a. and introduced `2, 00,000 as additional capital. 
On 31 December 2008 her position was as:   [4] 
Cash `90,000, Stock `5, 90,000, Debtors `6, 00,000, Creditors `3, 00,000.  She withdrew 
`10,000 p.m. for personal use. Find out profit or loss presuming interest on loan is yet 
to be paid.   
(OR) 
(a) Calculate total assets: Capital `40,000, Creditors `30,000, Revenue earned `75,000, 
Expenses `20,000. 
(b) What are Accounting Vouchers? 
 
17. Prepare a Trial Balance:  [4] 
Particulars (`) 
Capital  1,00,000 
Machinery  20,000 
Purchases  2,10,000 
Drawings  16,000 
Sales  2,00,000 
Sales Returns  20,000 
Purchase Returns  30,000 
Wages  40,000 
Discount Allowed  6,000 
Bank loan  90,000 
Stock  16,000 
Roopa (Dr.) 20,000 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
Cash  54,000 
Goodwill  60,000 
Interest Received  15,000 
Bank O/D 22,000 
Nathu (Dr.) 55,000 
Ganesh (cr.) 25,000 
Reena (cr.) 35,000 
 
18. (a) State with reason weather the following are revenue or capital expenditure:  [4] 
1. `1,000 spent on repairing a second hand machine before put to use. 
2. `5,000 on repainting the factory. 
(b) What do you mean by Specific Reserve?  
 
19. (a) P purchased 1,000 Sq. Meter Land for `3 crores to build a factory. At the end of the 
year market value of land was `2.70 crores. P treated `30 lakhs as loss and recorded the 
land at `2.70 crores. Is this a correct treatment?   
(b) Shibani dealing in electronic goods sold 20 TV sets costing 30,000 each at `40,000 
each. Out of this `5,00,000 were received in cash and the balance is not received yet. 
State the amount of revenue.   
(c) The factory workers of XYZ Ltd. went on a labour strike as a result the production 
had to stop for a week. The owner estimated the loss of production and the likely loss of 
profit due to this situation and accordingly directed his accountant to book a loss in the 
accounts. The accountant did the same. Was the accountant correct in recording the 
likely loss? Give suitable reasons in support of your answer.  [6] 
(OR) 
A company purchased a machine for `5,00,000 (including a boiler worth for `1,00,000). 
Company provides depreciation @10% as per straight line method. After four years 
boiler became useless and it was discarded for `20,000. Prepare machine A/c for four 
Years. 
 
20. Prepare a bank reconciliation statement.  [6] 
(i) Debit Balance shown by bank statement `20,000 
(ii) Cheques of `16,500 were issued in last week of March but only of `11,000 were 
presented for the payment.  
(iii) A bill of exchange of `2,000 discounted with the bank was returned dishonoured 
but no entry made in the cash book. 
(iv) A cheque of `5,000 received from Mr. Nikhil on March 24, 2017 was recorded in 
the discount column of Cash Book and was not banked. 
(v) As per the bank pass book, bank collected `2,500 as interest on securities and 
charged `700 & `200 as interest on loan and bank charges. These were not 
recorded in the Cash Book. 
(vi) Credit transfer of `1,000 was not recorded in the Cash Book. 
(vii) Interest debited by bank but not recorded in the Cash Book `1,500. 
  
 
CBSE XI  | Accountancy 
Sample Paper ? 2 
 
     
 
21. Prepare two column cash book. [8]   
Jan. 01 Balance of cash `20,000 and Bank 13,800 
Jan. 02 Received from Raman `900 and discount allowed `100. 
Jan. 05 Sold goods for cash 5,000 and deposited half amount into the bank. 
Jan. 07 Paid salary `2,500 
Jan. 10 Settled account of Karan Traders `10,000 by paying in cash `9,500. 
Jan. 14 Received from Murli on behalf of Kurli `4,500 
Jan. 20 Settled a debt of `1,200 by cheque receiving a discount of 5%. 
Jan. 22 Drew `500 from bank and paid donation. 
Jan. 27 Received repayment of loan `8,000 and deposited out of `6,500 it into the bank. 
(OR) 
A company purchased on 1
st 
July, 2015 machinery costing `30,000. It further purchased 
machinery on 1
st
 January, 2016 costing `20,000 and on 1
st
 October, 2016 costing 
`10,000. On 1
st
 April, 2017, one-third of the machinery installed on 1
st
 July, 2015 
became obsolete and was sold for `3,000. 
The company follows financial year as accounting year. 
Show how the Machinery Account would appear in the books of company if 
depreciation is charged @10% p.a. on Written Down Value Method.  
 
Part B 
 
22. Choose the correct answer from the options given below: [1] 
In a computerised accounting system, the framework of storing and processing large 
volume of data is known as  
a) Operating Environment 
b) DBMS 
c) Operating System 
d) Accounting Framework 
 
23. Choose the correct answer from the options given below: [1] 
What is the amount of commission to be shown in books of accounts? 
Gross Profit: `1, 00,000, Salaries: `44, 000, Depreciation Expense: `6,000, Insurance: 
` 4,000. 
Salaries are paid for 11 months 
Manager is allowed a commission of 5% on net profit after charging such commission. 
a) `1,895 
b) `2,000 
c) `2,190 
d) `2,285 
 
24. What are the basic requirements of every computerised accounting system? [1] 
 
25. Choose the correct answer from the options given below: [1] 
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