TERM -1 QUESTION BANK (2023-2024)

CLASS – XI Accountancy
Section A

1 Goods purchased on credit will increase the [1]

a) Debtor

b) Capital

c) liability

d) Drawings

2 Balance of Capital Account is shown as: [1]

a) Liability Account

b) Revenue Account

c) None of these

d) Capital Account

3 Salaries Account is: [1]

a) none of these

b) an asset account

c) an expense account
d) an liabilityaccount

4 Sundry Creditors Account is a: [1]

a) Liability Account

b) None of these

c) Capital Account

d) Revenue Account

5 Sales Account is a [1]

a) Revenue Account
 b) Capital Account

c) Liability Account

d) None of these

6 What do you understand by debit and credit? Do you think debit always stands for decrease [3]
in amount and credit for increase?
7 From the following particulars, prepare the account of D. Budhiraja, the proprietor of a [3]
business:

Balance the same and explain what the closing balance indicates.

8 Open a Tshape account for machinery and put the following transactions on the proper side: [3]

9 Put the following on the proper side of a Cash Account, a Debtor’s Account and a Creditor’s [4]

Account:
10 Briefly state the rules of debiting and crediting accounts classified on the basis of Accounting [4]
Equation.
11 If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or as a [4]
credit? If the transaction has the effect of decreasing a liability; is the decrease recorded as a
debit or as a credit?
12 Explain the double - entry mechanism with an illustrative example. [6]
13 Open Tshape account of our creditor Raghubir and write the following transactions on the [6]
proper side: -
 1. Purchased goods from Raghubir on credit for₹ 50,000.

2. Returned goods to Raghubir for₹ 5,000.

3. Paid to Raghubir₹ 30,000.

4. Purchased goods from Raghubir on credit for₹ 16,000.

5. Paid to Raghubir₹ 20,000.

14 Fill in the blanks: [4]

1. When an amount is entered on the right - hand side of an account, it is a ________
(debit/credit).

2. When an amount is entered on the left - hand side of an account, it is a ________

(debit/credit).

3. ________ accounts are accounts of incomes and gains.

4. The reduction in expenses is recorded on the ________ side.