CBSE Class 11 Accountancy Question Paper Set 8 Solved

CBSE Class 11 Accountancy Question Paper Set 8 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 qualitative characteristic of accounting information requires the use of common unit and common format of reporting?

2 XYZ Ltd. did not disclose all the significant information relating to the economic affairs in the financial statements in an understandable manner. Which accounting principle and human value is ignored?

3 Why cash book is called a book of original entry?

4 Distinguish between Return Outward book and Purchase A/c?

5 Which accounting principle has a drawback that it may be used to create secret reserve?

6 What do you mean by ‘imprest system of petty cash book’?

7 Define Accounting and Accountancy. Also explain the relationship between the two.

8 (i) What is the difference between Credit note and Debit note?

(ii) “Trial balance acts as a link between Ledger and final accounts.” Comment.

(iii) Can the Cash Account show a credit balance? Give reason in support of your answer.

9 (i) Jitender purchased goods from Ramesh costing Rs. 40,000, profit @20% on sales, at 8% trade discount and 5% cash discount. 70% the amount was paid by him. Pass the necessary journal entry.

(ii) State the utility of Ledger folio.

10 “A firm prepares its books of accounts by manipulating certain transactions which helps them in evading tax.”

(i) State and explain which qualitative characteristic of accounting information the firm is ignoring?

(ii) Also state which limitation of accounting is highlighted in the above statement.

11 (i) Define accounting Standards.

(ii) Which accounting principle has made it possible ascertaining the results of each department or division of the enterprise? Explain.

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