11th Accountancy Study Material em 1
11th Accountancy Study Material em 1
11th Accountancy Study Material em 1
com
www.Padasalai.Net
9. Income is the difference between revenue and ________.
a). Gains b). Loss c). Expenses
10. The debts owing to others by the business is known as
a) Liabilities b) expenses c) debtors
11. Assets minus liabilities is
a) Drawings b) capital c) credit
12. A written document in support of a transaction is called
a) Receipt b) credit note c) voucher
13. Business transactions may be classified into
a) Three b) two c) one
14. Purchases return means goods returned to the supplier due to
a) Good quality b) defective quality c) super quality
15. Amount spent in order to produce and sell the goods and services is called
a) Expense b) income c) revenue
LESSON – 2
1. Stock in trade are to be recorded at cost or market price whichever is less is based on _______principle.
a). Prudence b). Consistency c). Materiality
2. The assets are recorded in books of accounts in the cost of acquisition is based on ________ concept.
a). Full Disclosure b). Matching c). Historical
3. The benefits to be derived from the accounting information should exceed its cost is based on ____ principle.
a). Prudence b). Materiality c). Cost benefit
www.Padasalai.Net
a). Debit , credit b). Credit, credit
4. Traditional approach of accounting is also called as _________ approach
a). Indian b). American
c). Debit, Debit
c). British
5. The American approach is otherwise known as _________ approach.
a). Cash book b). Jounal c). Accounting equation
6. Impersonal accounts are classified into _________ types.
a). Four b). Six c). Two
7. Plant and machinery is an example of _________ account.
a). Personal b). Real c). Nominal
8. Capital account is an example of _________ account.
a). Impersonal b). Personal c). Nominal
9. Commission received will be classified under _________ account.
a). Nominal b). Real c). Personal
10. The receiving aspect in a transaction is called as
a) debit aspect b) credit aspect c) neither of the two
11. The giving aspect in a transaction is called as
a) debit aspect b) credit aspect c) neither of the two
12. Murali account is an example for
a) personal A/c b) real A/c c) nominal A/c
13. Capital account is classified under
a) personal A/c b) real A/c c) nominal A/c
www.Padasalai.Net
a). Revenue
6. The journal is a book of _________.
a). Book keeping
b). Expenses
c). Accounting
7. Recording of transaction in the journal is called _________.
a). Journalising b). Ledger c). Final account
8. The _________ column of journal represents the place of posting of an entry in the ledger account.
a). J.F b). L.F c). V.N
9. _________ account is debited for the amount not recovered from the customer.
a). Sundry Debtors b). Bad Debts c). Sundry Creditors
10. The assets of a business on 31st December, 2002 were worth Rs.50,000 and its capital was Rs.35,000.
Its liabilities on that date were Rs. _________.
a). 85000 b). 15000 c). 35000
11. The origin of a transaction is derived from the
a) Source document b) Journal c) Accounting equation
12. Which of the following is correct?
a) Capital = Assets + Liabilities b) Capital = Assets – Liabilities c) Assets = Liabilities – Capital
13. Amount owned by the proprietor is called
a) Assets b) Liabilities c) Capital
14. The Accounting Equation is connected with
a) Assets only b) Liabilities only c) Assets, Liabilities and capital
www.Padasalai.Net
4. c/f means _________ and b/f means _________.
a). debit side; credit side, b). Carried forward; brought forward
5. Debiting an account signifies recording the transactions on the _________ side.
c). None
a). Debit side b). Credit Side c). Both Debit and Credit
6. The left hand side of an account is known as _________and the right hand side as _________.
a). Credit side, Debit Side b). debit side; credit side c). None
7. Credit Balance means _________ is heavier than _________.
a). Credit total; Debit total b). Debit total; Credit total c). None
8. Real accounts cannot have _________ balance.
a). Debit side b). Credit Side c). Both Debit and Credit 9. Account
having debit balance is closed by writing _________.
a). By Balance b/d b). By Balance c/d c). Ledger
10. L.F. column in the journal is filled at the time of _________ .
a). Transferring b). Accounting c). Posting
11. Ledger is a book of :
a. original entry b. final entry c. all cash transactions.
12. Personal and real accounts are:
a. closed b. balanced c. closed and transferred
13. The column of ledger which links the entry with journal is
a. L.F column b. J.F column c. Particulars column
www.Padasalai.Net
a). Drawee b). Payee
4. Days of grace are ________ in number.
a). Three
5. Purchase of machinery is recorded in
b). Two
c). Drawer
c). One
www.Padasalai.Net
I. Choose the correct answer:
1. The book that records all small payments is called __________.
a). Petty cash book b). Single Column Cash Book c). Double Column Cash Book
2. The person who maintains petty cash book is known as __________.
a). Owner b). Accountant c). Petty Cashier
3. Analytical petty cash book is just like the __________.
a). Subsidiary Book b). Purchase book c). Cash Book
4. The periodic total of each column in the analytical petty cash book is posted to the concerned____accounts.
a). Personal b). Real c). Nominal
5. The petty cashier generally works on __________ system.
a). Imprest b). Barter c). None
6. Petty cash may be used to pay
a) Salaries to staff b) Purchase of furniture and fittings
c) Expenses relating to post and telegrams
7. The balance in the petty cash book is
a) an asset b) a liability c) an income
8. On Jan 1st 2002, Rs.1,000 given to petty cashier. He has spent Rs.860 during the month of January.
On Feb 1st to make the imprest he will receive cheque for Rs.______.
a) Rs. 1,000 b) Rs. 860 c) Rs. 1,860
www.Padasalai.Net
a) Subtracted b) added c) not adjusted
10. When balance as per Cash Book is the starting point, to ascertain the balance as per pass book interest
Charged by Bank is:
a) added b) subtracted c) not adjusted
11. When the balance as per Cash Book is the starting point to ascertain balance as per pass book, direct
deposits by customers are:
a) added b) subtracted c) not adjusted
12. When the balance as per Cash Book is the starting point to ascertain balance as per pass book, direct
payment by bank are:
a) added b) subtracted c) not adjusted
13. A bank pass book is a copy of
a) the cash column of a customer’s cash book. b) the bank column of a customer’s cash book.
c) the customer’s account in the bank’s ledger.
14. The bank statement shows an overdrawn balance of Rs.2,000. A cheque for Rs.500 drawn in favour
of a creditor has not yet been presented for payment. When the creditor presents the cheque for
payment, the bank balance will be
a) Rs. 1,500 b) Rs. 2,500 (overdrawn) c) Rs.2,500
LESSON – 10
I. Choose the correct answer:
1. Trial Balance should be tallied by following the rules of _______.
a). Double entry system b). Single Entry System c). Journal Entry
www.Padasalai.Net
12. Suspense account in the trial balance is entered in the
a) Trading A/c b) Profit and loss A/c
13. Suspense account having credit balance will be shown on the
c) Balance sheet
a) Credit side of the profit and loss A/c b) Liabilities side of the balance sheet
c) Assets side of the balance sheet
14. State which of the following errors will not be revealed by the Trial Balance.
a) Errors of complete omission. b) Error of carrying forward.
c) Wrong totalling of the purchases book.
15. Errors which affect one side of an account are called
a) Single sided errors b) Double sided errors c) None of the above.
16. Amount spent on servicing office Typewriter should be debited to:
a) Miscellaneous Expenses Account b) Typewriter Account. c) Repairs Account.
17. Wages paid to workers for the installation of a new Machinery should be debited to:
a) Wages Account b) Machinery Account c) Factory Expenses Account
18. Salary paid to Manager must be debited to
a) Manager’s Account b) Office Expenses Account c) Salary Account.
19. Goods taken by the proprietor for domestic use should be credited to
a) Proprietor’s Drawings Account. b) Sales Account. c) Purchases Account.
20. Cash received from Mani whose account was previously written off as a Bad Debt should be credited to:
a) Mani’s Account. b) Miscellaneous Income Account. c) Bad Debts Recovered Account.
www.Padasalai.Net
10. Venkatesh purchases goods worth Rs.80,000 for the purpose of selling. This amount will be treated as
a) capital expenditure b) revenue expenditure
11. Expenses on advertisement will be classified under
c) deferred revenue expenditure
www.Padasalai.Net
a) short life
15. Cash in hand is an example of
a) current assets
b) long life
b) fixed assets
c) no life
c) current liability
16. Capital is a __________
a) income b) assets c) liability
17. Drawing must be deducted from
a) net profit b) capital c) gross profit
18. Current liabilities are recorded in the balance sheet on
a) not recorded b) liability side c) assets side
19. Net profit is added to
a) gross profit b) drawings c) capital
@*@*@*@*@
LESSON- 2
1. Prudence 2. Historical cost 3. Cost benefit 4. Business entity
5. Accounting period 6. Consistency 7. Owner 8. Very long
9. Matching concept 10. Two aspects
LESSON- 3
1. Kautilya 2. Two 3. Debit, Credit 4. British 5. Accounting Equation
6. Two 7. Real 8. Personal 9. Nominal 10. Debit Aspect
11. Credit Aspect 12. Personal 13. Personal 14. Intangible
15. Nominal 16. Nominal 17. Impersonal A/c 18. Personal
LESSON- 4
1. Transactions 2. Equality, 3. Accounts, 4. Capital,
www.Padasalai.Net
5. Revenue orIncome,
10. Rs.15,000
14. Liabilities only
6. Original entry,
11. Jounal
15. Cash A/c
7. Journalising,
LESSON- 5
1. Principal, 2. Posting, 3. Carried down; brought down,
4. Carried forward; brought forward, 5. Debit side, 6. Debit side; credit side,
7. Credit total; debit total, 8. Credit, 9. By Balance c/d,
10. Posting 11. Final entry 12. Balanced 13. J.F column 14. By
15. Income / gain 16. Expenses / losses 17. Debit balances 18. To Balance c/d
19. Nil balance 20. Balance sheet
LESSON- 6
1. Subsidiary books, 2. Purchases, 3. Drawer, 4. Three 5. Journal proper
6. Only credit purchase 7. All purchase 8. Purchase return book 9. 4th April 2003
LESSON- 7
1. Debit, 2. Cash, 3. Credit, 4. Bank, 5. Debited, 6. Subsidiary
7. All cash receipt & payments 8. Cash book 9. difference between debtors and creditors
LESSON- 8
1. Petty cash book, 2. Petty cashier, 3. Cash book, 4. Nominal,
5. Imprest 6. Expenses relating to post and telegrams 7. An Asset 8. Rs. 860
LESSON- 9
1. Bank, 2. Cash, 3. Debits, 4. Debit, 5. Bank, 6. Customers
7. Customer of a bank 8. Credit balance as per Pass Book 9. Added 10. Subtracted
11. Added 12. Subtracted 13. The customer’s account in the bank’s ledger.
14. Rs. 2,500 (overdrawn)
LESSON- 10
1. Double entry system, 2. Credit, 3. Assets, 4. Credit, 5. Liabilities,
6. Credit, 7. Suspense account, 8. Rectifying entries,
9. credit (the excess amount in), 10. further debit (the short amount)
11. Arithmetical accuracy of the accounts 12. Balance sheet
13. Liabilities side of the balance sheet 14. Errors of complete omission.
15. Single sided errors 16. Repairs Account 17. Machinery Account
18. Salary Account 19. Purchases Account. 20. Bad Debts Recovered Account.
www.Padasalai.Net
1. Capital expenditure,
3. Revenue expenditure, Revenue receipt,
LESSON- 11
2. Non-recurring,
4. Revenue expenditure,
5. Deferred revenue expenditure. 6. Capital transaction 7. Capital expenditure
8. Capital receipt 9. Recurring 10. Revenue expenditure
11. Deferred revenue expenditure 12. Rs. 8,500 13. Current year
14. Rs. 15,000 15. Revenue loss
LESSON- 12
1. Trading, 2. Net profit or loss, 3. Credited, 4. Trading, 5. debit,
6. Credited, 7. Selling, 8. Profit and loss account, 9. financial position
10. Gross profit or loss 11. Direct expenses 12. debited in trading account
13. Statement 14. Long life 15. Current assets 16. liability
17. Capital 18. Liability side 19. capital
www.Padasalai.Net
4. What are the branch of Accounting?
Financial Accounting
Cost Accounting
Management Accounting
--------------------------------------------------------------------------------------------------------------------------
5. Write short note on
a). Debtors
A person who receives a benefit without giving money immediately, but liable to
pay in future or in due course of time is a debtor.
b). Creditors
A person who gives a benefit without receiving money immediately but to claim in
future, is a creditor.
c). Voucher
It is a written document in support of a transaction. It is a proof that a particular
transaction has taken place for the value stated in the voucher.
d). Invoice
Invoice is a business document which is prepared when one sell goods to another.
The statement is prepared by the seller of goods.
Prepared by P.VAHEESWARAN M.COM., M.PHIL., DCA., B.ED., Page 2
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
e). Stock
Stock includes goods unsold on a particular date. Stock may be opening and
closing stock.
f). Capital
The amount with which a trader starts the business is known as Capital.
-------------------------------------------------------------------------------------------------------------------------
6. What are the basic assumptions of accounting?
-------------------------------------------------------------------------------------------------------------------------
7. Define Money Measurement Assumption?
In accounting, only those business transactions and events which are of financial
nature are recorded.
For example, when Sales Manager is not on good terms with Production Manager,
the business is bound to suffer. This fact will not be recorded, because it cannot be
www.Padasalai.Net
measured in terms of money.
-------------------------------------------------------------------------------------------------------------------------
8. What is Double Entry System?
The basic principle of this system is, for every debit, there must be a
corresponding credit of equal amount and for every credit, and there must be a
corresponding debit of equal amount.
-------------------------------------------------------------------------------------------------------------------------
9. Define Double Entry System?
“Every business transaction has a two-fold effect and that it affects two accounts
in opposite directions.
And if a complete record were to be made of each such transaction, it would be
necessary to debit one account and credit another account.
It is this recording of the two fold effect of every transaction that has given rise to
the term Double Entry System”.
- J.R.Batliboi
-------------------------------------------------------------------------------------------------------------------------
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
13. What is Journal?
Journal is a date-wise record of all the transactions with details of the accounts
debited and credited and the amount of each transaction.
-------------------------------------------------------------------------------------------------------------------------
14. What is Receipt?
When a trader receives cash from a customer, he issues a receipt containing the
date, the amount and the name of the customer.
-------------------------------------------------------------------------------------------------------------------------
15. What is Cash Memo?
When a trader sells goods for cash, he gives a cash memo and when he purchases
goods for cash, he receives a cash memo. Details regarding the items, quantity,
rate and the price are mentioned in the cash memo.
-------------------------------------------------------------------------------------------------------------------------
16. What is Accounting Equation?
Accounting equation is based on dual aspect concept (Debit and Credit).
It emphasizes on the fact that every transaction has a two sided effect.
--------------------------------------------------------------------------------------------------------------------------
Prepared by P.VAHEESWARAN M.COM., M.PHIL., DCA., B.ED., Page 4
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
21. What is Loose-leaf Ledger?
Whenever necessary additional pages may be inserted, completed accounts can
be removed and the accounts may be arranged and rearranged in the desired
order. Therefore, this type of ledger is known as Loose-leaf Ledger.
---------------------------------------------------------------------------------------------------------------------------
22. What are the kinds of Subsidiary Books?
Day Books
Purchase Book
Sales Book
Purchase Return Book
Sales Return Book
Bill Books
Bills Receivable
Bills Payable
Cash Book
Journal proper
-------------------------------------------------------------------------------------------------------------------------
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
directing a certain person to pay a certain sum of money only to, or to the bearer
of the instrument’.
-------------------------------------------------------------------------------------------------------------------------
27. What are the various kinds of Cash Book?
Single Column Cash Book
Double Column Cash Book
Discount and Cash Column
Bank and Cash Column
Triple Column Cash Book
Petty Cash Book
-------------------------------------------------------------------------------------------------------------------------
28. What is Contra Entry?
Contra in Latin means opposite. When an entry affects both cash and bank
accounts it is called a contra entry.
-------------------------------------------------------------------------------------------------------------------------
29. What is Cash Book?
A cash book is a special journal which is used to record all cash receipts and
cash payments.
The cash book is a book of original entry or Prime entry.
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
‘Bank reconciliation statement is a list in which the various items that cause a
difference between bank balance as per cash book and pass book on any given
date are indicated’.
-------------------------------------------------------------------------------------------------------------------------
34. When can a bank reconciliation be prepared?
After tracing the various items of difference between bank balance as per cash
book and pass book a bank reconciliation statement is prepared.
-------------------------------------------------------------------------------------------------------------------------
35. Who prepare a bank statement?
The bank reconciliation statement is prepared by the customer of the bank.
-------------------------------------------------------------------------------------------------------------------------
36. Why is preparation of Bank Reconciliation Statement is necessary?
The errors that might have taken place in the cash book in connection with bank
transactions can be easily found.
Regular preparation of bank reconciliation statement prevents frauds.
It indirectly imposes moral check on the accounting staff.
Uncredited cheque can be detected and steps can be taken for their collection.
-------------------------------------------------------------------------------------------------------------------------
Prepared by P.VAHEESWARAN M.COM., M.PHIL., DCA., B.ED., Page 7
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
1. Error of Principle
2. Clerical Errors
Errors of Omission
Partial Omission
Complete Omission
Error of Commission
Error of Recording
Error of Posting
Error of Casting
Error of Carrying Forward
Compensating Errors
-------------------------------------------------------------------------------------------------------------------------
42. Write a short note on
a). Errors of Principle
Transactions are recorded as per generally accepted accounting principles.
If any of these principles is violated or ignored, errors resulting from such violation
are known as errors of principle.
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
Errors of posting in the wrong side of the correct account
Error of posting to account with wrong amount
Double posting in the same account
-------------------------------------------------------------------------------------------------------------------------
44. What are the errors not disclosed by the trial balance?
Errors of Complete Omission
Errors of Recording
Errors of Principle
Errors of posting to wrong account in the right side with the correct amount.
Compensating Errors
-------------------------------------------------------------------------------------------------------------------------
45. Write a note on Deferred Revenue Expenditure?
A heavy revenue expenditure, the benefit of which may be extended over a
number of years, and not for the current year alone is called deferred revenue
expenditure.
-------------------------------------------------------------------------------------------------------------------------
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
1
www.Padasalai.Net
Basics of
Distinction
Book
Journal Ledger
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
4
www.Padasalai.Net
Time when
Allowed
deduction in the invoice itself.
It is allowed on the purchase
of goods.
It is allowed when payment is
made within the specified
period
-------------------------------------------------------------------------------------------------------------------------
51. What are the difference between Cash Book and Pass Book?
S.No Basis of Distinction Cash Book Pass Book
1 Maintained by Cashier Banker
2 Deposits of Cash Entered on the debit side Entered on the credited side
3 Withdraw of cash Entered on the credit side Entered on the debited side
4 Signature It is not signed by the It is signed by the bank
cashier official
------------------------------------------------------------------------------------------------------------------------
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
52. What are the difference between Trial Balance and Balance Sheet?
S.No Basis of Distinction Trial balance Balance Sheet
1 Objective To know the arithmetical To know the financial
accuracy of accounts position of business
2 Format The column are debit and The asset and liabilities side
credit balance
3 Stage It is the middle stage It is the last stage
4 Stock It show opening stock only It shows closing stock only
------------------------------------------------------------------------------------------------------------------------
53. State the reason for disagreement between the balances shown in the
cash book and pass book?
Cheques paid into bank but not yet collected
Cheques issued but not presented for payment
Amount credited by the banker in the pass book without the immediate knowledge
of the customer
Amount debited by the banker in the pass book without the immediate knowledge
of the customer.
www.Padasalai.Net
------------------------------------------------------------------------------------------------------------------------
54. In what aspects subsidiary books are more valuable then journals?
For a business having a large number of transactions it is practically impossible
to write all transactions in one journal.
Periodical details of some important business transaction cannot be known.
The journal becomes bulky and voluminous.
Such a system does not facilitate the installation of an internal check system.
Since the journal can be handled by only one person.
-------------------------------------------------------------------------------------------------------------------------
55. When sales manager is not on goods terms with production manager.
Whether the business is bound to suffer. Is this transaction will be
recorded in the books? How?
No. This fact will not be recorded, because it cannot be measured in terms of
money.
-------------------------------------------------------------------------------------------------------------------------
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
www.Padasalai.Net
ii). Computer purchased for Rs. 50,000
iii). Purchased goods for Rs. 30000 from Mr.Babu
iv). Withdraw cash for personal use Rs.5000.
v). Machinery purchased for Rs. 12000
vi). Salary paid Rs. 3000
vii). Interest Received Rs. 5000.
-------------------------------------------------------------------------------------------------------------------------
58. Mention the five categories of Accounts.
Asset account
Capital account
Liabilities account
Expenses or losses account
Revenue or income accounts
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html
www.Padasalai.Net www.TrbTnpsc.com
Prepared by
P.VAHEESWARAN M.COM., M.PHIL., DCA., B.ED.,
PG ASSISTANT OF COMMERCE & ACCOUNTANCY,
VIVEKANANDA VIDYALAYA MATRIC HR SEC SCHOOL,
PANNAIKADU PIRIVU, KODAIKANAL MAIN ROAD,
KODAIKANAL, DINDIGUL DISTRICT.
PHONE: 9791324143
EMAIL: [email protected]
www.Padasalai.Net
http://www.trbtnpsc.com/2017/06/latest-11th-study-materials-tamil-medium-english-medium.html