I - Answer All Twelve Questions
A - Fill in the Blanks:
1) Under …………… single entry system no subsidiary books are kept.
2) Branch stock account is always prepared at ……………… price
3) Accounting standard 10 deals with accounting for …………………
4) ……………… ledger is the ledger maintained by a hotel under the tabular system
B - Write the Correct Answer from the Choice Given in the Brackets:
5) Amount incurred on electric installation of a new building is (capital receipt, capital expenditure, revenue exp, revenue receipt)
6) Under instalment system, total interest receivable by the seller is credited (interest suspense account, interest account, sales account, none of these)
7) Income received in advance is (an income, a liability, an asset, a loss)
8) Which items enters in the Income and expenditure account? (sale of old newspaper, Closing balance of cash, Tournament fund, None of these)
C – Match the items:
9) Income and expenditure account Hotel and restaurants
10) Visitor’s ledger Final accounts of sole Trader
11) Receipts and payment account Non-profit organisation
12) P/L account prepared from cash book
(12 × ¼ = 3 Weightage)
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