(Download) CBSE Class-10 Sample Paper And Marking Scheme 2017-18 :

Elements of Book Keeping and Accountancy

Time allowed: 03 Hours

Maximum Marks: 80

1. Capital Expenditure……………………………. 1
(a) maintains the earning capacity.
(b) helps in running day to day business.
(c) increases the earning capacity of business.
(d) benefits in only one accounting period.

2. Decline in the value of fixed intangible assets is called……….. 1
(a) Amortisation
(b) Depletion
(c) Depreciation
(d) Obsolescence

3. Amortisation is writing off………………. 1
(a) Patents and Copyrights
(b) Patents and Machinery
(c) Patents and Stock
(d) Copyrights and Furniture

4. Bank Reconciliation Statement is prepared by the ……….. 1
(a) Creditor
(b) Businessman
(c) Bank
(d) Debtor

5. Debit balance of Cash Book means…………….. 1
(a) Favourable balance
(b) Unfavourable balance
(c) Overdraft
(d) Negative balance

6. Drawer in a bill of exchange is a person…………… 1
(a) who draws a bill
(b) who accepts a bill
(c) who makes the payment
(d) who receives the payment

7. Balance Sheet shows…………… 1
(a) Profit or Loss
(b) Financial Position
(c) Errors of Accounts
(d) Total Debtors

8. Trading and Profit & Loss Account is prepared……………….. 1
(a) at the end of the calendar year
(b) at the beginning of the accounting year
(c) on every Diwali
(d) at the end of the accounting year

9. 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

10. Single Entry System is a…………….. 1
(a) Complete System
(b) Incomplete System
(c) Hybrid System
(d) Difficult System

11. What is meant by a bill of exchange? 2
12. R & Company purchased a machine for Rs. 80,000 and spends Rs. 20,000 for its installation. For the first year, the firm charges depreciation Rs. 10,000 on it. Record the necessary Journal entries. 2
13. What is meant by Bank Reconciliation Statement? 2
14. What does the credit balance of Cash Book imply? 2
15. Calculate Cost of Goods sold from the following information: 2
                                                         Rs.
 Sales                                           1,25,000
 Purchases                                   75,000
 Wages                                         8,000
 Gross Profit                                 42,000

16. State any two limitations of incomplete records. 2
17. Give any three examples of Revenue Expenditure. 3
18. Explain the ‘Fixed Installment Method’ of charging depreciation. 3
19. What is meant by Deferred Revenue Expenditure? Give one example. 3
20. Give any two differences between ‘Trading Account’ and ‘Profit & Loss Account’. 3
21. Calculate Closing Capital:

                                                     Rs.
 Opening Capital                    3,40,000
 Profit for the year                 2,40,000
 Drawings                               1,40,000
 During the year proprietor sold ornaments of his wife for Rs. 40,000 and invested the same in the business. 3

22. Give any three differences between ‘Statement of Affairs’ and ‘Balance Sheet’. 3
23. Dutta & Sons acquired a machine for Rs. 90,000 on October 1, 2014. Rs. 10,000 was spent on its installation. The firm charges depreciation @ 10 % on original cost every year. Calculate the amount of depreciation to be charged every year and prepare Machine Account for the first three years. The firm closes its books on March 31 every year. 4
24. State any four causes of difference of bank balance as shown by Cash Book and Pass Book. 4
25. State any four uses of incomplete records to businessmen.  

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