Class 11 Accountancy Half Yearly Question Paper 2023 Answer Key (NCERT Based)
Instructions :
• All questions are compulsory.
• Questions (1-15) carry 1 mark each.
• Questions (16-18) carry 2 marks each.
• Questions (19-21) carry 3 marks each.
• Questions (22-23) carry 5 marks each.
1. Transactions recorded in Accounting :
(a) Only Financial Transactions
(b) Only non-financial transactions
(c) Financial and Non-financial transactions
(d) Personal Transactions of the Proprietor
Answer – (a) Only Financial Transactions
2. …………… are not classified as wasting assets.
(a) Mines
(b) Land and Building
(c) Oil Wells
(d) Patents
Answer – (d) Patents
3. Accounting standards should be ………….
(a) Simple
(b) Understandable
(c) Simple and Understandable
(d) According to the nature of each enterprise
Answer – (c) Simple and Understandable
4. Payment of Income Tax of Rs.2000 will be debited to :
(a) Income Tax A/C
(b) Drawings A/C
(c) Capital A/C
(d) Profit and Loss A/C
Answer – (b) Drawings A/C
5. Petty Cash Book is maintained to record :
(a) All expenses
(b) All petty expenses
(c) All petty expenses which are paid in cash
(d) All petty cash receipts
Answer – (c) All petty expenses which are paid in cash
6. Purchase Book is used to record :
(a) Purchase of goods
(b) Credit Purchase of goods
(c) Credit Purchase of Asset
(d) All credit purchases
Answer – (b) Credit Purchase of goods
7. Debit Balances show :
(a) Assets and Expenses
(b) Profits and Incomes
(c) Liabilities and incomes
(d) None of above
Answer – (a) Assets and Expenses
8. When the rules of Double Entry System are not strictly followed, the errors caused are called :
(a) Error of Principle
(b) Error of Omission
(c) Error of Commission
(d) Compounding Error
Answer – (a) Error of Principle
9. A Bank Reconciliation Statement is prepared by :
(a) the bank
(b) Debtors
(c) Account Holders in a Bank
(d) Creditors
Answer – (c) Account Holders in a Bank
10. Depreciation is provided on :
(a) On Current Assets
(b) On Fictitious Assets
(c) On Fixed Assets
(d) On Intangible assets
Answer – (c) On Fixed Assets
11. Amount invested by the owner of the Business to start up his business is ………….. called Capital. (Fill in the blanks)
Answer – capital
12. Write down any two examples of Representative Personal A/Cs.
Answer – Outstanding Salary A/C and Prepaid Expense A/C
13. Write down the full form of CGST ?
Answer – Central Goods and Services Tax
14. Name two errors which can be disclosed by preparing a Trial Balance also known as One Sided Errors.
Answer – Posting on the wrong side of the account, duplication of the same amount in an account etc.
15. Assets = ………. + Capital (Fill in the blanks)
Answer – Liability
16.