CBSE Class 11 Accountancy Revision Assignment Set D

Q1 What do you mean by source document? 

Q2 Give two examples of current assets ? 

Q3 What is the formula of Accounting Equation 

Q4 State two kinds of transactions that Increase and Decrease Capital. 

Q5 Define posting. 

Q6 Cash paid to creditor Rs. 1,000 in full sattlement of Rs. 1,050. In which account will you place the difference in amount and at what side ?

Q7 Define “Double entry system” ? 

Q8 State three objectives of preparing 'Trial Balance'. 

Q9 Define “Double entry system” ? 

Q10 Name the Accounting principle which states that only monetary transactions should be recorded in book of accounts.

Q11 Explain the following branches of accounting :

(i) Financial Accounting

(ii) Cost Accounting

Q12 Distinguish between Journal and Ledger. 

Q13 Give three reasons that cause the difference between Bank Balances as per Pass Book and Bank Balance as per Cash Book.

Q14 State three objectives of preparing 'Trial Balance'

Q15 Identify the category the following accounts :

(a) RentA/c (b) Drawing A/c

(c) Capital A/c (d) Discount A/c

(e) Machinery A/c (f) Outstanding salaries

Q16 G. Ltd. imported for U.K. one machinery for sale in India and another machinery for production purpose.What terms will be used in above statement.

b) Mr. Z, who still owes Rs. 3,000 to a business firm while the business firm still owes Rs. 8,000 to Mr. X? What term will be used for Mr.

Z & Mr. X by the business firm for accounting purpose?

Q17 Show the following transactions by way of Accounting equation :

(i) Commenced business with cash Rs. 1,50,000 & stock Rs. 1,20,000.

(ii) Purchased furniture on credit Rs. 20,000.

(iii) Sold goods on credit [cost Rs. 24,000] at 20% profit.

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