b.com i yr financial acc.ac.mcq

7/29/2019 b.com i Yr Financial Acc.ac.Mcq

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MODEL PAPER

B.Com Iyr. Examination 2011-12

FINANCIAL ACCOUNTING

Time : 3 Hours

M.Marks: 75

Part A [ Marks : 45]

Time : One and half hours

Answer all questions. All questions carry equal marks.

Part B [ Marks : 30]

Time : one and half hours

Answer any three questions out of five. All questions carry equal

marks.

1.Cash book is ajksdM cgh gS

a. Ledger accountb. Subsidiary accountc. Subsidiary journal and ledger account.d.

None of these

2.The accounting equation based on dual aspect concept is-f}&i{k vo/kkj.kk ij vk/kkfjr ys[kakdu lehdj.k gS&

a. Capital = liabilities- Assets


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b. Liabilities= Capital + Assetsc. Assets = Equitiesd.

Capital + Assets = Claims of outsiders

3.Prepaid insurance is an example ofiwoZor chek mnkgj.k gS

a. A liabilitiesb. An assetc. An expensed. An income

4.Debit note provides basis for preparingMsfcV uksV cukus ds fy, vk/kkj izLrq djrk gS

a. P/R Bookb. Sales bookc. S/R bookd. Purchase book

5.A Schedule of balances drawn from ledger is called[kkrkcgh ls fy, 'ks"kksa ls cukbZ tkus okyh vuwlwph gksrh gS

a. A trial balanceb. A statement of affairsc. A balance sheetd. A statement of account


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6.Sales are equal tofodz; cjkcj gS

a.Cost of goods sold + Net profitb.Net profit+ expenses + cost+ goods soldc. Gross Profit+ cost of goods sold+ expensesd. None

7.Error of principle arises whenfl}kURk dh v'kqf} gksrh gS

a. There are wrong castings and wrong postingsb. There is a partial omission in recordingc. Distinction is not made in Capital and revenued. S/R recorded as P/R

8.Freight Rs. 250 paid on new machine was charged to carriageinwards account, it is an error ofu;h e'khu ij HkkMk 250 :- vkUrfjd HkkMk [kkrs esa fy[kk x;k] ;g v'kqf} gS

a. Principleb. Commissionc. omissiond. Compensatory

9.The basic function of financial accounting is tofoRrh; ys[kkadu dk eq[; dk;Z gS

a. Record all business transactionsb. Interpret the financial data


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c. Assist Mgt. in performing functions effectivelyd. Attain non-economical goals

10. IF total charge of depreciation and maintenance areconsidered, the method which provides a equal change in P & La/c is

;fn ewY; kl ,oa j[k j[kko dks /;ku j[kk tk; rks ykHk&gkfu [kkrs esa lekuHkkj Mkyrh gS

a. SMb. WDVc. G F Methodd. Annuity method

11. Depreciation is a method ofewY; kl fof/k gS

a. Valuationb. Allocationc. valuation and allocation bothd. none of these

12. Depreciation on a machine of Rs. 4000 at 10% for 3 years byreducing balance method will be

?kVrs 'ks"k fof/k ls 10 izfr'kr dh nj ls 3 o"kZ esa 4000 :- dh e'khu ij ewY;

kl gksxk&

a. 2916b. 1000c. 100


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d. 90013. If abnormal loss occurs before reporting the normal loss, the

burden of normal loss will be

lkekU; gkfu ls igys ;fn vlkekU; gkfu gksrh gS rks lkekU; gkfu dk Hkkj gksxk

a. Good quantityb. sales quantityc. Abnormal loss as well as good quantityd. None of the above

14. Del credere commission is allowed to the consignee tobear

izs"k.kh dks ifj'kks/k deh'ku dks ogu djus fy, fn;k tkrk gS

a. Normal lossb. Abnormal lossc. Indirect expensesd. Loss of Bad debts

15. "Joint venture with Y" is an example of*Y ds lkFk la;qDr [kkrk* mnkgj.k gS

a. Nominal a/cb. Memorandum a/cc. Real a/cd. Personal a/c


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16. Under sectional balancing, the ledger which is usually made tobalance is

oxhZ; lUrqyu esa fdl [kkrkCkgh dks larqfyr fd;k tkrk gs og gS&

a. Debtors ledgerb. Creditors ledgerc. General ledgerd. none of these

17. General ledger adjustment a/c are opened inlkekU; [kkrkcgh lek;kstu [kkrk esa [kksyk tkrk gS

a. Sales ledgerb. Purchase ledgerc. Neither in sales nor in purchase ledgerd. In both

18.

"Goods on consignment is sent at proforma invoice price at25% profit on cost, at the end of year goods remained unsold of

Rs. 1000. Consigner will show it in his books at

izs"kd viuh iqLrdksa esa bls cryk,xk&

a. 12500b. 10000c. 12000d. 8000

19. Average clause is application for claim computation, whennkok fu/kkZj.k esa vkSlr okD;ka'k ykxwgksrk gS


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a. there is a under insuranceb. there is a over insurancec.

no insurance

d. none of these20. In case of average clause the loss is suffered by both the

insurer and insured

vkSlr ched ,oa chek/kkjh }kjk gkfu ogu dh tkrh gS

a. In equal ratiob. only by insurerc. In ratio of risk covered or policyd. none of these

21. If net profit is Rs. 100,000, total stauding charges Rs. 6000 ofwhich Rs. 1000 are uninsured and sales is Rs.10,00,000, the rate

of gross profit is

ldy ykHk dh nj gksxh&

a. 10%b. 16%c. 6%d. 15%

22. H. P.P. isfdjk;k dz; ewY; gS&

a. Cash priceb. Cash price + interest payable


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c. Sales priced. None of these

23. Down payment in higher purchase agreement is made onfdjk;k dz; vuqcU/k esa rqjUr Hkqxrku fd;k tkrk gSa. On date of agreementb. With first installmentc. with last installmentd. when goods is repossessed

24. Receipt and payment account is prepared onizkfIr Hkqxrku [kkrk cuk;k tkrk gS

a. accrual basisb. cash basisc. Realization basisd. none of these

25. Income and expenditure account is just like avk;&O;; [kkrk dh Hkkarh gS

a. Cash bookb. Profit and loss accountc. Capital accountd. none of these

26. Legacies are generally treated asolh;r dk ys[kk izk;% fd;k tkrk gs


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a. As revenue receiptb. as expenditurec.

as an income

d. capitalized in B/s27. Standard turn over means

izeki fodz; gS

a. Turn over in indemnity period.b. Turn over in previous year corresponding to indemnity

period.

c. Reduction in turn over.d. Annual turn over.

28. When actual royalty is less than minimum rent amount ofdifference is known as

tc okLrfod vf/kdkj 'kqYd] U;wure fdjk, ls de gks] rks vUrj dh jkf'k

dgykrh gS

a. Short warningsb. excess warningsc. rentd. none of these

29. Excess warning meansvf/kdk;Z jkf'k ls vk'k; gS&a. Minimum rent - actual royaltyb. actual royalty - minimum rent


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c. Nazranad. None of these

30. Patent royalty is calculated on,dLo vf/kdkj 'kqYd dh x.kuk dh tkrh gSa. On basis of productionb. on basis of salesc. on both basisd. none of these

31. Inter branch transactions meansvURk% 'kk[kk O;ogkj ls vk'k; gS

a. Transaction between branchesb. Transaction between branches & H.O.c. Both a and bd. none of these

32. Branch keeping only few memorandum books and cash bookfor own transactions is known as

'kk[kk tks vius O;ogkjksa ds fy, udn cgh ,oa dqN Lej.k iqLrdsa j[krh gsS]dgykrh gS

a. Domestic branchesb. Dependent branchesc. independent branchesd. none of these


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33. Balance of branch adjustment account is transferred to'kk[kk lek;kstu [kkrs dk 'ks"k gLrkUrjhr fd;k tkrk gS

a. on B/sb. On P &L of branchc. general P &L a/c of H.O.d. none of these

34. rent of departmental store is shared by departmentsfoHkkxh; Hk.Mkj dk fdjk; fofHkUu foHkkxksa esa ckaVk tkrk gS&

a. Equallyb. on sales ratioc. in ratio of area occupiedd. none of these

35. Departmental profit/ loss is transferred tofoHkkxh; ykHk&gkfu dks gLRkkUrjhr fd;k tkrk gS

a. Trading a/cb. In general Profit- loss accountc. In balance sheetd. None of these

36. Advertisement expenses are charged to departments infoKkiu O;;ksa dks foHkkxksa esa ckaVk tkrk gS

a. Sales ratiob. In purchase ratio


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c. Equallyd. none of these

37. In a partnership , minimum of number at partners is,d lk>snkjh QeZ esa lk>snkjksa dh U;wure la[;k gsSa. 10b. 20c. 2d. 5

38. In the absence of deed, partner shall share profits in the ratiolays[k ds vHkko esa ykHk foHkktu vuqikr gksxk

a. 2 : 3b. 1 : 1c. 2 : 3d. 4 : 5

39. Liablities of partners in a firm isQeZ esa lk>snkjksa dk nkf;Ro gksrk gS&

a. Limitedb. unlimitedc. Personald. Joint

40. Interest on drawing is avkgj.k ij Ctk; gs


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a. Incomeb. expensec.

Both

d. None of these41. Partner's current account balances arelk>snkjksa ds pkyw [kkrksa ds 'ks"k gksrs gS

a. Debitb. Creditc. Debit or creditd. none of these

42. In absence of deed, interest on capital is payable atlays[k ds vHkko esa iwath ij C;kt feyrk gS

a. 5 % p.a.b. 10% p.a.c. 6%p.a.d. nothing

43. When capital accounts are fluctuating , loss due to insolvencyof a partner be share as per rule of Garner v/s Murray in ratio of

xkuZj cuke ejsZ fu;e ds vuqlkj tc ifjorZu'khy iawth [kkrs gks rks fnokfy;kiu

dh gkfu dks ckaVk tkrk gS

a. Fixed capitalsb. Profit-sharingc. adjusted capitals


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d. none of these44. Premium paid by new partner on admission be shared by old

partners in ratio of.

u;s lk>snkj }kjk pqdkbZ x;h izC;kth dh jkf'k iqjkus lk>snkjksa }kjk fdl vuqikresa ckaVh tk;sxh

a.Sacrificeb. Gainingc. old profit ratiod.

Equally

45. In absence of deed, interest as advance by a partner is payableat

lays[k ds vHkko esa lk>snkj ds vfxze ij C;kt ns; gksrk gS

a. 6% p.a.b. 5%p.a.c. 10 % p.a.d. 12% p.a.

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