1.

Define Accounting
2. Mention all the branches of Accounting
3. State all the Golden Rules of Accounting
4. Journalize the below transaction
5. June 1 Withdrew from bank for office use 5,000
6. June 2 Withdrew for personal use 1,000
7. What is a Journal Proper?
8. Define accounting.
9. Who are the parties interested in accounting information?
10. What are the steps involved in the process of accounting?
11. Give the golden rules of double entry accounting system.
12. What is journal proper?
13. What are the different types of cash book?
14. Give the formula to find out the amount and rate of depreciation under straight line
method of depreciation.
15. What is meant by depreciation?
16. Mention any two differences between trial balance and balance sheet.
17. What are adjusting entries?

18. Mention the source documents for the below books:

**Purchases book **Purchase Returns book
**Sales book **Sales Returns book

19. Mention all the methods of Depreciation.

20. State any 4 causes of Depreciation.

21. Write any 2 objectives of preparing the final accounts?

22. Classify the below accounts to Trading Account/ Profit and Loss Account/ Balance
Sheet.
• Sales
• Interest Received
• Plant & Machinery
• Rent
 1. What is an Accounting Information Systems?
2. Explain any 7 Users of Accounting.
3. Explain the different types of Subsidiary books.
4. Explain any 3 advantages and disadvantages of Accounting.
5. Explain the advantages and limitations of accounting?
6. What do you mean by subsidiary books? Explain different types of subsidiary books.
7. Briefly explain about contra entry with examples.
8. Discuss the role of an accountant in the modern business world.

Very short answer questions:

1. Define accounting.
2. List any two functions of accounting.
3. What are the steps involved in the process of accounting?
4. Who are the parties interested in accounting information?

5. Define book-keeping.
6. What is meant by accounting concepts?
7. Briefly explain about revenue recognition concept.
8. What is “Full Disclosure Principle” of accounting.
9. Write a brief note on ‘Consistency’ assumption.

10. What is meant by journalising?

11. What is real account?
12. How are personal accounts classified?
13. State the accounting rule for nominal account.
14. Give the golden rules of double entry accounting system.

15. What is a ledger?

16. What is meant by posting?

17. What is trial balance?

18. Give the format of trial balance.
19. What are the methods of preparation of trial balance?

20. Mention four types of subsidiary books.

 21. What is purchases book?
22. What is purchases returns book?
23. What is journal proper?

24. What is cash book?

25. What are the different types of cash book?

26. What is meant by depreciation?

27. List out the various methods of depreciation.
28. Give the formula to find out the amount and rate of depreciation under straight line
method of depreciation.
29. What is annuity method?
30. What is sinking fund method?

31. Write a note on trading account.

32. What are fixed assets?
33. Mention any two differences between trial balance and balance sheet.
34. What are the objectives of preparing trading account?
35. What is the need for preparing profit and loss account?
36. What are adjusting entries?

Short answer questions:

1. Explain the meaning of accounting.

2. Discuss briefly the branches of accounting.
3. Discuss in detail the importance of accounting.
4. Discuss the role of an accountant in the modern business world.

5. What is matching concept? Why should a business concern follow this concept?
6. “Only monetary transactions are recorded in accounting”. Explain the statement.
7. “Business units last indefinitely”. Mention and explain the concept on which the
statement is based.
8. Write a brief note on Accounting Standards.
9. What is an Account? Classify the accounts with suitable examples.
10. What are the three different types of personal accounts?
11. What is the accounting treatment for insurance premium paid on the life of the
proprietor?
12. State the principles of double entry system of book keeping.
13. Briefly explain about steps in journalising.
14. What is double entry system? State its advantages.

15. Distinguish between journal and ledger.

16. What is ledger? Explain its utilities.
17. How is posting made from the journal to the ledger?
18. Explain the procedure for balancing a ledger account.

19. What are the objectives of preparing trial balance?

20. What are the limitations of trial balance?
21. ‘A trial balance is only a prima facie evidence of the arithmetical accuracy of records’.
Do you agree with this statement? Give reasons.

22. What are the advantages of subsidiary books?

23. Brifly explain about contra entry with examples.

24. What are the objectives of providing depreciation?

25. What are the causes for depreciation?
26. State the advantages and limitations of straight line method of depreciation.
27. State the advantages and limitations of written down value method of depreciation.
28. Distinguish between straight line method and written down value method of providing
depreciation.

29. What are final accounts? What are its constituents?

30. What is meant by closing entries? Why are they passed?
31. What is meant by gross profit and net profit?
32. “Balance sheet is not an account”- Explain.
33. What are the advantages of preparing a balance sheet?
34. What is meant by grouping and marshalling of assets and liabilities?

35. What is the need for preparing final accounts?

36. What is meant by provision for doubtful debts? Why is it created?
37. Explain how closing stock is treated in final accounts.
38. Give the adjusting entries for interest on capital and interest on drawings.
39. Explain the accounting treatment of bad debts, provision for doubtful debts and provision
for discount on debtors.