AL YASMIN INTERNATIONAL SCHOOL, RIYADH

Affiliated to CBSE – New Delhi.5730011

HALF YEARLY EXAMINATION- (2021 -22)
ACCOUNTANCY
Date: Time: 1:30 Hrs
Class: XI Max.Marks: 40

General Instructions:
1. This question paper comprises of Part – A.
2. All the questions are compulsory for all candidates.

1 The art of recording all business transactions in a systematic manner in a set of books is called- 1
(a) Accounting
(b) Book – keeping
(c) Ledger
(d) None of these.
2 Cash, goods or assets invested by the proprietor in the business for earning profit is called- 1
(a) Profit
(b) Capital
(c) Fixed assets
(d) None of these.
3 The person, firm or institution who does not pay the price in cash for the goods purchased or the 1
services received is called-
(a) Creditor
(b) Proprietor
(c) Debtor
(d)None of these
4. The thing which is purchased and sold in the business is called ……………. 1
(a) Asset
(b) Goods
(c) Investment
(d)None of these
5 The unsold goods left at the end of the year is called …………….. 1
(a) Profit
(b) Closing stock
(c) Fixed assets
(d) None of these

6 Furniture purchased by a Trader dealing in Furniture business will be treated as ‘purchases’ for 1
him.
True or False
7. The system in which only one aspect of the transaction is recorded is called. 1
(a) Single entry system
(b) Double entry system
(c) Accrual system
8. The concession given on cash transactions is called. 1
(a) Profit
 (b) Cash discount
(c) Trade discount
(d) None of these

9 1
Goods taken by the use is proprietor for personal use :
(a)Sale
(b)Drawings
(c)Purchase
(d)None of these

10. 1
Which of the flowing transaction is not of financial character:
a) Purchase of an asset
b) Sale of goods
c) Withdrawing money
d) Strike by employees
11 Assertion (A): Amount to be received from Vijay was Rs: 5000. 1
He paid Rs: 4700 in full settlement. While recording the transaction
Rs:300 credited to discount account.
Reason (R) Rs:300 is income for business.

a) Both A and R are correct.

b) A is correct but R is incorrect
c) A is incorrect but R is correct
d) Both A and R are incorrect
12 Assertion (A): Sold goods costing Rs: 1,500 for Rs : 1,800. 1
While preparing accounting equation Rs: 300 will be added in capital.
Reason (R): Rs:300 is loss for business.

a) Both A and R are correct.

b) A is correct but R is incorrect
c) A is incorrect but R is correct
d) Both A and R are incorrect
13 Amount received or receivable against sale of goods is: 1
a) Revenue receipt
b) Capital receipt
c) Sometimes Capital receipt and sometime revenue receipt
d) None of these
14. According to going concern concept a business is viewed as having: 1
a) A limited life
b) A very ling life
c) An Indefinite life
d) None of these
15. During the lifetime if an entity, accounting produces financial statements in 1
accordance with which if the following accounting concept
a) Matching
 b) Conservatism
c) Accounting period
d) Cost
16 The liabilities if a firm are Rs:3,000 , the capital if the proprietor is Rs:7,000. The total assets are: 1
a) Rs:7,000
b) Rs:10,000
c) Rs:4,000
d) None of these
17 Purchase if machine by cash means 1
a) Decrease in asset and decrease in liability
b) Increase in asset and decrease in asset
c) Increase in asset and decrease in liability
d) Decrease in asset increase in capital
18 Sale of goods to Ram for cash is debited to: 1
a) Ram A/C
b) Cash A/C
c) Sales A/C
d) Nine if these
19 Bank A/C is a: 1
a) Personal A/C
b) Real A/C
c) Nominal A/C
d) None of these
20 Salaries A/C is: 1
a) Expense A/C
b) Asset A/C
c) Liability A/C
d) Nine if these
21 Recording of transactions in a journal is called: 1
a) Posting
b) Journalising
c) Transfer
d) Ruling
22 State the title if the accounts affected, type of account and the account to be 5
Debited and credited. Each entry carry one mark
a) Arun started business with cash Rs:1,00,000
b) Purchased goods in credit from Rahul fir Rs:40,000
c) Sold goods fir cash Rs:30,000
d) Paid salaries Rs:3,000
e) Furniture purchased fir cash Rs:10,000
23 What will be the percentage of depreciation in the following case 1
Cost of the machine Rs 1,50,000
Salvage value Rs 15,000
Estimated life 9 years
a) 10%
b) 12%
c) 20%
d) None of the above

24 Amortization refers to writing off of 1

a) Fixed asset
 b) Current asset
c) Intangible asset
d) None of the above

25 B ltd purchased a machinery on October 1ST 2016 for Rs 6,55,000. They sold the machine on July 1
1st 2018 for Rs 5,24,000. Rate of depreciation is 10% p.a. under straight line method .Calculate
profit or loss on sale of the asset.
a) 16,537
b) 16,570
c) 16,375
d) None of the above

26 Under written down value method the …………..remains constant 1

27 Write the formula for calculating depreciation under straight line method 1
28. Match the following 4
a) Credit Purchases 1.Return outward book
b) Depreciation 2.Sales book
c) Goods Returned 3.Journal proper
d) Trade discount Allowed 4.Purchases book

29 A ……………is sent to a supplier when we return goods 1

a) Credit note
b) Debit note
c) Voucher
d) None of the above

30 Write the Journal entries for the following each carries one mark 4
1.Jan 1st Cash in hand Rs 4000
th
2.Jan 4 sold goods for cash Rs 13200
3.Jan 6th Paid Sudhir by cheque Rs 15,000
4.Paid for charity Rs 120