www.cbse.nic.in Central Board of Secondary Education : SSLC / Tenth / 10th Std Elements Of Book Keeping and Accountancy Sample Question Paper

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Document Described : Elements Of Book Keeping and Accountancy Question Paper, CBSE Question Paper

Sample Question Paper
ELEMENTS OF BOOK KEEPING & ACCOUNTANCY
Code-254
Class-X
Summative Assessment-II
Time Allowed : 3 Hrs Maximum Marks : 80

GENERAL INSTRUCTIONS :
1. The question paper has 32 questions in all.
2. All questions are compulsory.
3. Multiple Choice Questions from 1-16 are to be answered by giving the correct option in the answer sheet.

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1. Number of parties involved in a bill of exchange are :
(A) 2 (B) 3
(C) 4 (D) 5 (1)
2. On discounting of a bill of exchange with the bank,the amount of discount is borne by:
(A) Drawer (B) Drawee
(C) Payee (D) Bank (1)
3. If the amount of a bill of exchange is paid before due date it is called
(A) Discounting of the bill (B) Retiring the bill
(C) Dishonor of the bill (D) Renewal of the bill (1)
4. On receiving a request from the drawer to renew the discounted bill, who is debited by the drawer?
(A) The bank (B) The drawer
(C) The drawee (D) New Bill Receivable (1)
5. A bill of exchange of Rs. 2000 is endorsed in favour of Krishan a creditor of Rs.2100 in full settlement. By what amount Krishan will be debited?
(A) Rs.1900 (B) Rs.2,000
(C) Rs.2100 (D) None of the above (1)
6. An amount of Rs. 4000 spent on the repairs of office building was debited to Building account. What type of error is committed?
(A) Error of omission (B) Error of Commission
(C) Compensatory error (D) Error of principle (1)
7. A sales of Rs. 2000 to Neha is recorded in Purchases Book. Which of the following accounts is to be credited.
(A) Purchases A/c only (B) Sales A/c only
(C) Both Purchases A/c & Sales A/c (D) Neha’s A/c (1)
8. The Sales Book is over cast by Rs. 100. This is an example of
(A) Error of omission (B) Error of commission
(C) Error of principle (D) Compensatory Error. (1)
9. Rs.1480 received from a debtor Rohit, were credited to Mohit as Rs.1,840.On rectification, Suspense account is to be credited by
(A) Rs.1480 (B) Rs. 1840
(C) Rs. 360 (D) Rs. 3320 (1)
10. Suspense account is used
(A) To rectify double sided error (B) To rectify one sided error
(C) To rectify error before the (D) None of the above.
preparation of Trial Balance. (1)
11. A bill drawn on Ramesh was entered in the Bills Payable Book but was correctly credited to Ramesh. Which account is to be debited while passing correction entry?
(A) B/R A/c only (B) B/P A/c only
(C) Ramesh’s A/c (D) Both B/R A/c & B/P A/c (1)
12. A machine is purchased on 1st January 2009 for Rs. 20,000. Its life is 10 years and residual value is Rs. 1,500. Amount of depreciation in the 2nd year will be according to Diminishing Value Method
(A) Rs. 2000 (B) Rs. 1850
(C) Rs 1665 (D) Rs. 1800 (1)
13. Which of the following is the cause of depreciation in case of a coal mine?
(A) Extraction (B) Lapse of time
(C) Wear & Tear (D) Fall in market Value (1)
14. Which of the following is not an advantage of Straight Line Method .
(A) It is simple to understand and easy to apply
(B) Under this method no provision is made for purchasing of an asset in case of obsolescence.
(C) It is possible to allocate the total cost of an asset over a number of years
(D) Under this method the amount of depreciation is shown as a direct deduction from the value of the asset. (1)
15. A Company was purchased machinery on 1st January 2008 for Rs. 30000. Depreciation is to be charged @ 10% p.a. by Straight Line Method. The company closes its books on 31st December every year. If the machine was sold for Rs. 24000 on 30.6.2010, how much amount will be shown in the Profit & Loss A/c on sale of the machine.
(A) Rs. 8000 as loss on sale (B) Rs. 500 as loss on sale
(C) Rs. 1500 as profit on sale (D) Rs. 600 as loss on sale (1)
16. Which of the following is the cause of depreciation in case of patent right.
(A) Wear & Tear (B) Depletion
(C) Expiry of time (D) Fall in the value due to fall in market price (1)
17. State the parties involved in a bill of exchange. (3)
18. Differentiate between Bill of Exchange and Promissory Note on the basis of:
(A) Number of parties (B) Acceptance
(C) Nature of liability of the drawer (3)
19. A has received B’s acceptance of Rs. 8,000 payable 3 months after date. It is endorsed to C in settlement of his account of Rs. 8200. Pass necessary entries with regard to endorsement in the books of A and C. (3)
20. State the meaning of error of principle. Give any two examples of such errors. (3)
21. List the errors that affect the profits of the business. (3)
22. What is meant by depreciation? Enumerate its causes (any two). (1+2)
23. State any three objectives of providing depreciation. (3)
24. Furniture of Rs. 10,000 was purchased on 30th June 2009. Depreciation is to be provided @ 10% p.a. on the original cost. Prepare Furniture Account for year ending 2009 and 2010. (3)
25. What steps may be taken by the drawer after drawing the bill of exchange? (4)
26. Gunakshi has drawn a bill of exchange of Rs. 3600 on Apporva payable 3 months after date. Gunakshi discounted the bill with the bank at a discount of Rs. 200. On due date the bill was dishonored by Bank with Rs. 20 as noting charges. Pass necessary entries in the books of Gunakshi. (4)
27. Rectify the following errors:-
(i) Gupta Furniture sold goods of Rs. 8500 to Modern Furnitures but the same was entered in the Sales Returns book. (4)
(ii) Cash paid to Veena Rs. 3250 was correctly entered in the Cash-Book but was debited to Neena as Rs. 2350.
28. State any four characteristics of depreciation. (4)
29. Explain the following terms.
(A) Discounting of bill (B) Endorsement of bill (6)
(C) Renewal of bill
30. Vikram sells goods to Gurmeet of the value of Rs 20,000. He draws a bill on Gurmeet payable 3 Months after date. Gurmeet accepts the bill and returns it to Vikram. Vikram discounts the bill one month before due date at a discount of Rs. 200. Gurmeet shows his inability to meet the bill on due date and requests to draw a fresh bill for 2 months including interest @12% p.a. which Vikram does. Before due date Gurmeet becomes insolvent and 40 paise in a rupee is received from his official assignee. Pass necessary journal entries in the books of Vikram. (6)
31. Pass journal entries to rectify the following errors.
(i) Sales Return Book is undercast by Rs. 100
(ii) Salary of Rs. 2500 paid to Hari Ram the peon, is debited to his personal account.
(iii) Wages paid Rs. 1200 to the labour for construction of building is debited to Wages A/c
(iv) Goods purchased returned to Salman of Rs. 1500 were entered in the Sales Returns Book but Salman’s account is correctly debited. (6)
32. A machine was purchased for Rs. 40,000 on 1st January 2008. On 1st July 2008 another machine was purchased for Rs. 60,000. On 1st July 2010 machine purchased on 1st January 2008 was sold for Rs. 18,000. Another machine of Rs. 25,000 was purchased on the same date. Depreciation is charged @ 10% p.a. on Straight Line Method. Show Machinery Account for three years ie 2008, 2009 & 2010 (6)