1. State
the meaning of Issued Capital.
2. What is meant by voucher? Name any two types of voucher. State the types of transaction for
which each one is prepared.
3. Give any two advantages
of cash basis of accounting.
4. Explain ‘central processing unit’. Give any two names of its subunits.
5. State the meaning of Capital Expenditure. Give any two examples of Capital Expenditure.
6. Differentiate between Income & Expenditure A/c and
Receipts & Payments A/c
on the basis of—
(a) nature;
(b) opening balance.
7. In the absence of partnership deed, what treatment is
given to the following as
per Partnership Act?
(a) Commission on sales to a partner
(b) Interest on loan given by a partner to the firm
8. Give the meaning of Ledger. State any three advantages of Ledger.
9. What is meant by ‘shares issued at premium’? State the
purpose for which premium amount can be utilized.
10. Name two liquidity
ratios and give formula of calculating any one of these ratios.
11. Differentiate between
Capital Receipts and Revenue Receipts on the basis of the following : (a) Source (b) Nature
12. State the meaning of
‘Accounting Cost Concept’. Also state its significance.
13. What is meant by
‘Journal Proper’? Name and state the types of entries made in the Journal Proper
(any two).
14. State any four
objectives of preparing Financial Statements
15. What is meant by ‘Errors
of Omission’? Give an example of such error.
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