Subject: Accounts

There will be one paper of 3 hours duration of 100 marks divided into two parts.

Part I (30 marks) will be compulsory and will consist of two questions based on the entire syllabus.

Question 1 (20 marks) will include compulsory short answer questions, testing knowledge, application and skills relating to elementary/ fundamental aspects of the syllabus.

Question 2 (10 marks) will be a compulsory numerical question.

Part II (70 marks): Candidates will be required to answer five questions out of eight questions from this section. Each question shall carry 14 marks.

1. Joint Venture

Joint Venture: objectives; necessity and methods of accounting (recording of transactions in the books of one Joint Venturer, recording of transactions in the books of all Joint Venturers, recording of transactions in separate set of books).

Joint Venture: meaning, features, objectives and application of Joint Venture problems under three different methods of accounting.

• Recording of transactions in the books of one Joint Venturer.

• Recording of transactions in the books of all Joint Venturers.

• Recording of transactions in separate set of books.

NOTE: Valuation of closing stock in Joint Venture including abnormal and normal losses and Joint Ventures for underwriting shares are included.
Interim settlement of accounts, interest calculation and incomplete ventures on the date of final settlement of accounts are excluded from the syllabus along with conversion of consignment into joint venture.

(i) Meaning of Self Balancing System and application of the system in solving practical problems. Meaning, classification of ledgers, transfer between subsidiary ledgers, advantages, and application of problems relating to adjustment accounts.

(ii) Meaning of Sectional Balancing System and application of the system in solving practical problems. Meaning, classification of ledgers and application of problems relating to control accounts.

NOTE: Rectification of errors relating to Self-Balancing and Sectional Balancing are not required.

3. Partnership Accounts

(i) The Indian Partnership Act, 1932: definition, features – meaning and importance of partnership deed.

(ii) Practical problems on preparation of Profit and Loss Appropriation Account and Capital Accounts.

• Profit and Loss Appropriation Account.

• Partners’ capital accounts: types - fixed and fluctuating.

Interest on capital, interest on drawings, salary, commission to partners, transfer to reserves and division of profit among partners.

NOTE:

• Interest on partner’s loan to be taken as a charge against profits.

• Interest on loan should be credited to a separate loan account.

• Rent paid to a partner is a charge against profit and not an appropriation of profit and so it is to be debited to profit and loss account and not to profit and loss appropriation account and credited to partners’ current account in case of fixed capital system or to partners’ capital account when capitals are fluctuating.

NOTE: Guarantee of Profits and Past Adjustments (interest on capital, interest on Drawings, salary and Profit and Loss ratio) are to be covered.

(iii) Admission: Goodwill - concept and mode of valuation.

Subject: Commerce

There will be one paper of 3 hours duration of 100 marks divided into 2 parts.

Part 1 (30 marks) will consist of compulsory short answer questions testing knowledge, application and skills relating to elementary / fundamental aspects of the entire syllabus.

Part 2 (70 marks) will have nine questions out of which candidates will be required to answer seven questions and each question will carry 10 marks.

1. Corporate Organisation

(i) Joint Stock Company: meaning, merits, demerits and objectives.

(ii) Formation of a Company.

(iii) Promotion, meaning and role of promoters.

(iv) Incorporation of Company.

(v) Memorandum of Associations and Articles of Associations (excluding alterations) and distinction between the two documents.

(vi) Filing of documents and registration.

(vii) Certificate of incorporation.

(viii) Commencement of business.

(ix) Prospectus - its nature and importance, statement in lieu of prospectus.

(x) Public and private companies and their comparative studies, privileges of private companies.

(xi) Government companies: objectives, necessity, merits and demerits. (xii) Multinational Corporations - objectives and role, various forms - branches, subsidiaries, joint venture, franchise holders, turnkey projects, merits and demerits of multinational corporations.

2. Social Responsibility of Business and Business Ethics

Concept and case of social responsibility.

• Responsibility towards owners, investors, consumers, employees, government and community.

• Environmental protection and Business.

• Business ethics and elements.

3. Business Environment

Concept and importance of Business Environment.

• Concept and importance of Business Environment.

• Dimensions of Business Environment – Economic, social, technological, political and legal.

4. Financing

(i) Capital: different types for sole trader; partnership; joint stock.

Importance of finance for business. Capital for different types of business firms. Factors affecting capital plan for an industry. Fixed capital - meaning, factors affecting fixed capital. Working capital - meaning, factors affecting working capital.

Subject: Economics

There will be one paper of 3 hours duration of 100 marks divided into 2 parts.

Part 1 (30 marks) will consist of compulsory short answer questions testing knowledge, application and skills relating to elementary/ fundamental aspects of the entire syllabus.

Part 2 (70 marks) will consist of eight questions out of which the candidate will be required to answer five questions. Each question in this Part shall carry 14 marks.

Class X

Subject: Hindi (April 2008)

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