On this page we have uploaded MBOSE HSSLC Class 11 Question Paper for Accountancy released by www.mbose.in. The question paper provided here from Meghalaya State Board. Download the 2022 question paper pdf as well.
Meghalaya State Board has published subject wise question paper for this year Class 11 students in its official portal www.mbose.in. Here we have published Class 11 MBOSE question paper 2022-23 for Accountancy subject. For more information regarding Meghalaya HSSLC Class 11 2022 Exam Date, Exam Pattern, Time, Date, How to prepare follow our website.
Meghalaya Board (MBOSE) HSSLC Class 11 Question Papers – Accountancy Subject
Part – A
(1) Choose the correct answer:
(a) Which balance does an Asset accounts show?
(i) Debit
(ii) Credit
(iii) Contra
(iv) All of the above.
(b) The debts which are to be repaid within a short period are known as:
(i) Current liabilities
(ii) Fixed liabilities
(iii) Contingent liabilities
(iv) All of the above.
(c) According to the double entry system of accounting, an account that obtains benefit is:
(i) Credited
(ii) Debited
(iii) Income received
(iv) No need to show as accounting record.
(d) When a transaction is wholly or partially recorded incorrectly, it is called:
(i) Error of commission
(ii) Error of principle
(iii) Error of omission
(iv) Error of posting.
(e) Bank Reconciliation Statement is prepared by:
(i) Bank
(ii) Customer’s Accountant
(iii) Auditors
(iv) None of the above.
(f) The act of transferring the bill from one person to another is called:
(i) Discounting
(ii) Acceptance
(iii) Endorsement
(iv) Retirement.
(g) The liability arising from the purchase of goods or services on credit is called:
(i) Creditors
(ii) Accounts payable
(iii) Loan
(iv) Accounts receivable
(h) According to concept of conservatism, the stock in trade is valued at:
(i) Market price
(ii) Cost price
(iii) Market price or cost price, whichever is higher
(iv) Market price or cost price, whichever is lower.
2.) What do you mean by automation of accounting process?
3.) What is meant by business entity concept?
4.) What do you mean by ‘EDPS’?
5.) What do you mean by GST?
6.) Give one example of deferred revenue expenditure.
7.) In which side of the balance sheet ‘prepaid expenses’ is recorded?
8.) ‘Installation charges of a plant’ is considered as what type of expenditure?
9.) Explain briefly any two attributes of quantitative characteristics of Accounting Information System.
10.) Distinguish between capital reserve and revenue reserve. (any two points)
11.) What do you mean by IFRS? Write any one objective of IFRS.
12.) Mr. Sujay has the following transactions. Show accounting equation for the same:
(i) Commenced business with cash ₹3,00,000
(ii) Purchased goods for cash ₹80,000
(iii) Purchased machinery on credit ₹1,25,000
(iv) Purchased old car for personal use for ₹1,00,000
13.) Explain the meaning and objective of Accounting Standards.
14.) Prepare a Bank reconciliation statement from the following particulars:
(i) Overdraft as per cash book on 31st Dec. 2018 (₹8000)
(ii) Cheques paid into the bank but not cleared before 31st Dec. 2018 (₹2000)
(iii) Cheques issued but not cashed by the customer prior to 31st Dec. 2018 (₹1200)
(iv) Bank charges for the period
(v) Interest on overdraft charged by the bank
(vi) Direct deposits by customers collected by the bank not shown in the cash book
15.) Esha maintains her books of accounts on calender year basis. She purchased on 1-1-2016 a Machine for ₹40,000. She purchased another machine on 1st October, 2016 for ₹20,000 and on 1st July, 2017 for ₹10,000. On 1st July, 2018, the machine installed on 1st January, 2016 became obsolete and was sold for ₹6,800.
Show how the machinery account will appear in the books of Esha for all the three years under fixed installment method and written down value method @ of 10% depreciation.
Part – B
(16) Choose the correct answer:
(a) Wages paid for the installation of a machinery is:
(i) Capital Expenditure
(ii) Revenue Expenditure
(iii) Deferred Revenue Expenditure
(iv) Revenue Payment.
(b) If closing stock appears in the trial balance, it is transferred to:
(i) Trading Account
(ii) P & L Account
(iii) Balance Sheet
(iv) Trading Account & Balance Sheet.
17.) What is meant by software component of a computer?
18.) Write one advantage of AIS.
19.) What is database?
20.) Distinguish between Single Entry System and Double Entry System (Any Four Points).
21.) What is the role of computer in Accounting?
22.) Opening Capital ₹1,40,000, Profit for the year ₹40,000, Drawings ₹14,000.
During the year, proprietor sold ornaments of his wife for ₹40,000 and invested the same in the business. Calculate closing capital.
(23) The following trial balance is extracted from the books of Basubadutta Traders for the year ending 31st March 2018:
Particulars |
Debit Balance ₹ | Credit Balance ₹ |
Opening stock | 8000 |
– |
Purchase and sales |
35000 | 80000 |
Returns | 2000 |
3000 |
Drawings and capital |
8500 | 25000 |
Furniture | 15000 |
– |
Discount |
1700 | 3100 |
Salaries | 1600 |
– |
Insurance |
2500 | – |
Wages | 1200 |
– |
Building |
20000 | – |
Bills Receivable and Payable | 5000 |
1400 |
Debtors and Creditors |
9600 | 2000 |
Cash | 4400 |
– |
Total |
114500 |
114500 |
Adjustments:
(i) Closing stock on 31-03-2018 was valued at ₹12,500.
(ii) Insurance prepaid is ₹100
(iii) Salaries outstanding ₹500
(iv) Depreciate Building by 10% and Furniture by 5%
Prepare final accounts.
24.) Explain two Accounting Software System known to you.
Or
What do you mean by Automation of Accounting Process? What are the various stages in automation?