CBSE Class 11 Accountancy Question Paper Set 6 Solved

CBSE Class 11 Accountancy Question Paper Set 6 Solved. Students can download the last year board exams question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.

1 Which accounting principle brings objectivity in the preparation and presentation of financial statements?

2 An accountant of a large sized firm records all the transactions in a Journal instead of maintaining subsidiary books. His view on this are that it will result in better control and also large team of accountants will not be required.

Is his decision correct? Give reason.

3 State the nature of Income and Expenditure Account.

4 Mr Anuj dealing in readymade garments pays Rs.30,000 as rent for his shop from which he runs his business of garments. One day fire broke off in his shop and goods worth Rs.1,50,000 were destroyed by fire. Identify which one is an expense and give reason for the same.

5 Vijay, a consultant, during the financial year 2015-16 earned Rs.10,00,000. Out of which he received Rs.8,50,000. He incurred expenses of Rs.8,40,000, out of which Rs.20,000 were paid in advance. He also paid Rs.20,000 expenses of last year. You are required to determine his income for the year if he follows accrual basis of accounting.

6 What is the difference between Credit note and Debit note?

7 Accounting information provides information about the profitability and financial soundness of a concern. In addition, it provides various other advantages also. Explain other three advantages.

8 (i) Calculate the value of opening stock from the following information:

Cash sales Rs. 40,000; Sales return Rs. 5,000; Purchase return Rs. 4,000; Closing stock Rs. 36,000; Credit sales Rs. 1,65,000; Purchases Rs. 1,24,000; Carriage inwards Rs. 8,000; and Rate of gross profit 40% on sales.

(ii) Which Accounting principle is certainly followed and which one is certainly ignored while preparing the accounts under Single Entry System?

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