(Download) CBSE Class-10 2016-17 Sample Paper (Elements Of Book Keeping And Accountancy)

Q1. The purpose of preparing final accounts is to ascertain: 1

a) Profit or loss
b) Capital
c) The value of assets
d) Profit or loss and financial position

Q2. Trading Account shows:

a) Financial position of the concern
b) Gross profit
c) Net profit
d) Net profit and financial position

Q3. Balance sheet shows: 1

a) Profit or loss
b) Financial position
c) Errors of accounts
d) Total debtors

Q4. Trading and Profit & Loss Account is prepared: 1

a) At the end of calendar year
b) At the beginning of the accounting year
c) On every Diwali
d) At the end of accounting year

Q5. Balance Sheet is prepared: 1

a) For a particular period
b) On a particular date
c) For the whole year
d) For a decade

Q6. Balance sheet shows: 1

a) Assets only
b) Liabilities only
c) Both assets & Liabilities
d) Neither assets nor liabilities

Q7. Excess of credit in Profit and Loss account is called: 1

a) Net profit
b) Net loss
c) Gross profit
d) Gross loss

Q8. Wages and Salaries appearing in Trial Balance is shown: 1

a) On the debit side of Trading A/c
b) On the debit side of Profit and Loss Account
c) On the Asset Side of the Balance Sheet
d) On the liabilities side of Balance Sheet

Q9. Land is: 1

a) Current Asset
b) Fixed asset
c) A liability
d) Capital

Q10. Identify the current asset from the following: 1

a) Plant
b) Cash at bank
c) Creditors
d) Capital

Q11. Generally accounts under single entry system are maintained by: 1

a) Sole Trader
b) Company
c) Society
d) Partnership Firms

Q12. Single entry system of book keeping is: 1

a) Accurate
b) Systematic
c) Unscientific
d) Rationale

Q13. When closing capital is more than the opening capital, it denotes: 1

a) Drawings
b) Loss
c) No profit no loss
d) Profit, if there is no introduction of fresh capital

Q14. When closing capital is less than the opening capital, it denotes: 1

a) Profit
b) Loss
c) Loss, if there is no drawing
d) Expenses

Q15. Which of the following is correct about Single Entry System: 1

a) Simple Method
b) Difficult Method
c) Expensive Method
d) Both difficult and expensive method

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