Board Question Paper: Book Keeping & Accountancy

Board Question Paper: March 2024 - Book Keeping & Accountancy

• Question 1: Sub-questions cover identifying the odd one out in various lists and asking if students agree with specific accounting statements.

• Question 1(A): Find the odd one out of given sets: Subscribed Capital, Called up Capital, Paid up Capital, Equity Shares; Building, Bills Payable, Furniture, Machinery; Retaining of Bill, Noting of Bill, Discounting of Bill, Endorsing of Bill; Audit Fees, Insurance, Medical Expenses, Sundry Receipts; General Reserve, Creditors, Investments, Capital.

• Question 1(B): Students must assess and answer with agreement or disagreement to statements about not-for-profit concerns, current account balances, bills of exchange and partner's rights in dissolution scenarios and automatic closure of bank accounts.

• Question 1(C): Students need to select and rewrite statements related to dissolution, interest on loans, assets taken over by partners, and the transfer of capital accounts in dissolution.

• Question 2: Covers Balance Sheet analysis for a partnership firm with specific scenarios about partners and asset valuations.

• Question 3: Focuses on dissolution of a partnership firm. It asks for Realisation Account, Partner's Capital Account, and Bank Account preparation in conjunction with asset realization details and dissolution expenses and goodwill figures.

• Question 3(OR): Focuses on journal entries in a business context including an overview of bank activities.

• Question 4: Requires journal entries for a company issuing equity shares, with different payment stages detailed. This question has an alternative for a computerized accounting system.

• Question 5: Focuses on a Balance Sheet and profit-loss adjustments (as per profit sharing ratio) as part of a partnership dissolution scenario. The provided information details the assets and liabilities of partners in the context of one partner's retirement.

• Question 6: Focuses on Receipts & Payments accounts, Income & Expenditure Accounts and Balance Sheet preparation for a medical practitioner.

• Question 7: Involves preparing Profit & Loss Account and Balance Sheet for a partnership firm. Includes trial balance details (like debt and credit balance data) and adjustments. Adjustments include: Depreciation, maintenance of reserve, changes in values, and other business-related factors.

This quiz covers various aspects of Book Keeping and Accountancy, focusing on identifying odd items in lists and evaluating accounting statements. It includes sub-questions related to categories like capital, assets, and liabilities, as well as issues surrounding partnerships and account balances. Prepare to demonstrate your understanding of key accounting principles and practices!