Term-End Examination
Bachelor'sPreparatory Programme (B.P.P.)
(For Non 10+2)
PCO-01 : Preparatory
Course in Commerce
December,2006
Maximum Marks : 50
Tirne : L20 Minutes
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General. Instructions
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1.
'
All questions are compulsory, each of which carries one mark.
'
,Preparatory Course in Commerce (PCO-01)
Questions.l-50
S.sh question has four alternatives one of which is correct. Write the Sl. No. of your correct
2.
'
alternatives/answers below the corresponding question number in the answer sheet and then
r .rhark the rectangle for the same number in that column. If you frnd that none of the given
alternativesiscorrectthenqrite0andmarkincolumn.0.
3. i.1,'Donot waste ti-" i" reading the whole question paper. Go on solving questions one by one.
, ' You'may come back to the left out qugstions, if you have tirire at the end. ,
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PCiO-01
( 3 )
P.T.O.
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Commerce is mainly corr"eroed with the distribution of goods.
Statemcnp B :
Commeree is a business activity in the form of,trade ind aidg to trade.
Read the above statements and dnswer which of the following is correct i
'
I (f) Shtement A is correctr'and.
statement B is wrgng; ,
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'2.
Q)
Stalernent'B'is correct arid' statement A is #ons
(3)
Both statements are wrong
(4)
Both statements are right
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Finadcial position of the business means
. (1) Net effect of the business operations
(2) Systematic records of the business transactions
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(4)
3.
What the business owes to others and whatit;ciwns at a given point of time
All of the above
. ,,
Which of the following branches of accounting is concerned witJl the measurement and
control of costs ?
r
4.
Statement A:
(1)
Financial Accounting
(2)
Cost Accounting
(3)
Management Accounting
(4)
Accountgncy
A bookseller buys 1O copies of a book froq a publisher prioed at Rs. Sd. fn" publisher
allows a discount of LOVo
and chargesRs. 450 net. (List price RS. 500 minus discountof
pays only the net price. The recordingof this traneactionwill be"made
for
(1)
the net amount only
the list price and discount both
:
(3)', the nbt amount and s4e'vwr!
dispount both
wu
(4) the u*""ut,
""rif's
Read the question no. 4 given abovq. In this question th. piUUrfr* is offeriag the bookseller
at a discount of Rs. 50, Which of the followihg discounts is the publisher atlowing to ttre
buyer ?
' ' ,
(1) Cash'discount
(Z) Trade discount
'
(3) Rebate
(4) B i l l d i s c o u n t
.:
(2)
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6-
Mr. vinod started business with Rs. b0,000 cash. He purchased go€d$ on credit frsm Mohan
for Rb. 5,000, His Total As$ets will be
(1) Rs. 50,000'
(3) Rs. 55,000
i'
(Z) Rs. 45,000
(4)
Rs. 5,000
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PCO-o1
(4)
1.
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(5)
'P.T.O
7.
8'
Aman promised to purchase a building from his friend for Rs. 1,00,000. Its market value is
Rs. 1,50,000. With what amount will he record this transaction in his books ?
'l
(1) Rs. 1,00,000
(2)
Rs. 1,50,000
(3)
Rs. 50,000
g)
He will not record this transaction
As per which concept are the business enterprise and its owner treated a,s two separate
entities ?
(1)
9.
(2)
Business entity concept
Dual aspect concept
(3)
Flistorical record concept
Which of the following is a Personal Account ?
(1) Kamal's Account
(2)
10,
(3)
Loan from Aman Account
Indian Bank Account
(4)
All of the above
Salary Outstanding Account is a
( lt Real Account
(2)
11.
:
Personal Account
(3)
Real and Nominal Account
(4)
Nominal Account
Real Accounts are the accounts which relate to
(1) Assets only
(2)
Expensesonly
(3) Assets and Losses
(4)
12,
Incomes
Narration must be written
(1)
for every transaction entered in the Journal
(2)
at the time of preparing Trial Balance
(3)
while classifying the transaction
(4)
Both (2) and (B)
PCO-01
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PCO-O1
( 7)
P.T.O.
13.
Journalising is the process of recording the business transactions, in'the ,
(1) Book of prime entry
:
(2) Balance Sheet
(3)
Petty Cash Book
U)
All of the above
I
14.
15.
16.
17.
Amount realised for the goods sold or services rendered is called
(1)
Revenue
(D
Profit
(3)
Gain
(4\
(4)
Eorritv
Equity
Posting will be done in the
(1) Ledger
(2)
Trial Balance
(3)
Journal
(4)
AII of the above
which of the following accounts normally show a debit balance ?
(1) Assets accounts
Q)
(3)
Debtors'accounts
(4)
All of the above
Trial Balance is prepared
(1)
18.
19.
!
Expenses accounts
(2)
before preparation of final accounts
after preparation of final accounts
(3)
before posting in the ledger
(4)
AII of the above
\
A system of ad.vancing a fixed amount to the petty cashier periodically is called
(1)
Single entry system
(2)
Double entry system
(3)
Imprest system
(4)
All of the above
A copy of the customet's account as maintained by the bank is called
(1)
Pass Book
(D
Cheque Book
(3)
Cash Book
(4)
Sales tsook
PCO-O1
(8)
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PCO-01
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20.
For nominal accounts the rule of debit and credit iB
'' -
12) Debit all cxpenses and losses, Credit all gains and incomes
(3) Debit a! gafns and,incornes, Credit all expenses,and losses '
',. ' (4)
21.
22.
Debit all incornes and gains, Credit what goes out
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Bank overdr aft means
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(1)
amount withdrawn from the bank in excessof amourlt of balance"in the Banh Account
(2)
credit balance in the Bank Account
(3)
when there is no balance in the account in the bank
(4)
All of the above
When'a cheque is returned dishonoured,it is recorded on the
(1)
debit side of Cash Book in the cash column
(2)creditside'of.CashBookinthebankcolum
(31 debit side of Cash Book in the bank column
(4)
credit side of Cash Book in the cash column
1F'
23.
A cheque is received.on 1s1;February and is not deposited into the'bank 0n the same day.
ItwiI1beenteredinthethreecolumnCashBook
(1)
in the bank column on the debit side
(2)
in the bank column on the credit side
(3)inthecashco|umnonthedebitside
'
(4) in the cash column on the credit side
I
24.
A cheque payable at the counter of the bank without identification is called
(1)
Bearer cheque
,(3).: Order cheque
:
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(2)
Crpsqed cheque
(4)
Specific cheque
.
.
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30,.2005,, the Cash Book of Rakesh shswed a.bank balance-of Rs. 28'000..4
O'n,Novemper 'Cash
deposited
Book with Pass Book revealed lhat a cheque of Rs. ZO;OOO
of
comparison
bank
as perr
fie
but:not collec,tedby November 30, and interest on iiiveetment cslleatedlbXn
standing iu-structions appearing in the Pass Book only of Rs. 400O' Fek9$,h;prepar6d Bank
Reconciliation Statement on November 30, and ascertained Pass Book balance is :
(1) Rs. 6,000
PCo-01
:
(2)
Rs. 8,000
(4)
Rs. 42,A0A
(10)
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PCO-o1
( 1 1)
P.T.O.
26.
'
27
28.
sales Return Journal is also called
(1)
Returns Outwards Journal
(2)
Returns Inwards Journal
(3)
Day Book
(4)
Invoice Book
Entries passed in the Journal Proper to record certain
- unrecorded items like closing stock,
land depreciation on
:
fixed assets uh. *u called .
(1)
Closing entries
e)
Opening entries
(3)
Rectification entries
(4)
Adjustment entries
which of the following entries will be recorded in Journal proper ?
(1) Credit purchases of frxed assets
(2)
(3)
(4)
29.
3l'
.
which of the following errors would affect the Trial Balance ?
(1) sales of Rs. 750 to Radha was completely omitted
from the books
(2) Wages paid for installation of machinery were
debited to Wages Account
(3)CreditpurchaseoffixedassetsrecordedinPurchaseJournal
(4)
30'
Withdrawal of goods from the business by the owner for personal use
Writing off bad debts
. i
:
All of the above
salary paid to Mohit recorded in cash Book as payment to him
An expenditure incurred on repairs of machinery debited to Machinery
Aecount would affect
(1) Cash Account only
(D
Machinery Account only
(3)
Machinery Account and Machinery Repair Account
(4)
Machinery Repair Account and Cash Account
Whieh of the fgll.olinc concepts implies that while measuring ineome
of a business
----:'
for an
"
accounting period the non-material facts can be ignored ?
(f) Matching concept
e) Consistency concept
(3) Conservatis*.o.r""pt
(4)
PCO-o1
Materialityconcept
(12) -
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Pco-01
( 13 )
F.T.O.
32.
33.
The accountingsystem wrluchconsidersincorneon cegh
fasis anfl expensoson,actrual basis
is called
(1) Hybrid system
(2) Cash basis of accounting
(3)
Mereantile system of accounting
(4)
Single entry system
Which of the following concppts isralso called .prpflgnce concepf ?,
(1) Conservatism concept:i., , , t
(D Consistencyconcept , ,
!
(3)Matchingconcept'..i...(4).Full.disclosureconcept
g4.
If any capital expendituie id *rorrgfy classifibd:as idvenue'expenditure, it would result in
(3)
No change in profits
,,
(4)
Understatement of losses
85.WhichofthefollowingisacapitaIexpenditure?l'l:;l-'..i
(1)
(2)
Rs. 4,000 paid as brokerage in connection,yith pqchape of |and
Rs. 1,00,000 spent on construction of railway siding
(3)
A second-harid machine was bought for,R$i :ZO,bOO
ana ns. 5,000 were spent on its
o v e r h a u l i n g , ) " i
(4)
-
36.
. .
All of the above
a
i
Stock in hand January 1, 2005
8,s.
Raw materials
L0,000
Work in progress
S,OOO
l
Stock on December 31, 2005
Raw materials
5,000
Work in.progress
15,000
Purchase of raw materials
50,000
Carriage in
Direct wages
8,000
Motiye piwer
6,000
Depreciation on machinery
6,000
From the above particulars find out'the cost ofgoods produced during the year ended
December 31, 2005.
The cost of goods produced will be
(1)
Rs. 80,000
(Z) Rs. 8b,000
(3)
Rs. ?0,000
(4)
PCoe01
Rs. 95,000
(14)
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Q. fr g{rEr Heilb,000{. sqqfi q{sqil I|-t qq Tfi.q r{q
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5,000
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31R{rR, 2005
s-Eqf qff,
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15,000
W
50,000
5,000
8,000
6,000
6,000
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+ srqrftnw sT ErF EIrfr
(2)
85,000€.
(4)
95,000{.
( 1 5)
P.T:O.
S?.' Readthe questiorrno. 36. From:its'particulars find out the .ost of raw materials consumed.
It will be
(1) Rs, 55,000
(2) Rs.,60,000
$
(3) Rs. 65,000
38.
89;
,
'
lO.
(4) Rs. 50,000
Manufacturing Account is prepared to find out
(1)
Cost of $ales ,
(.2) Direct Expenses
(3)
Gross Profrt
(4)
Cost'of Production
Salanes and wages are shown on the
(1)
debit side of Trading Account
(2)
credit side of Trading Account
(g)
debit side pf Profit .lia mr,
(4)
credit side of Profit and Loss Account
:
' '
,,
.t .qorrt
'
,
,,
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,
WUich of thg following items are'chargcd to Profit and Loss Account ?
(1) Carriage out ,
(?)
Samples
(3)
Packing
';'
:i;;*"1'*-i';,
41. Wages paid to workers*engug"d i1r the construction of buildings should be
''
,,t.
, (1) debited to l}ading Acgount
,:
'
(2) debited to Profit and Loss eccount
'
(3) added tq the costiof asset co;lcerned
- (4) added to the cost of good" p-ao".a
{2.
All the indirect expensep are shown in
(1) Trading Account
(2)
Profrt and Loss Account
(3)
Manufacturing Account
:
'
48.
f
'
: -.
Any amount realised from sale of scrap is treated as income and hence shoutrdbe
(1) added in the capital
(2)
shown in Profrt and Loss Account
(3)
adjusted in the cost af goods produced
(4)
adjusted in the cost of sales
PCO,01
({s)
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w.;. {W {. 36qF-dq
'
.
,
(.1) 55,000F,
(3) 65,000d'-
'
'
(2), 60,0008.
(4) 50,000F.
" '
:' '
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,
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PCO.0'1
( 1 7)
P.T.O.
jll4."''A statebeiit:showing. asbets'and;liatilitids
of "thb:buCiness::asiattlie,end of an accounting
year is called
, . r :
1
: .
. . ,
,
,
:
.
. ( 1 ) T r i a l B a l a n c e i . ( 9 B a l a n c e S h e e t '
(3) Ledger
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(4).Jo;alProper
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45.'r':Oapital bn January.,l.ri2005wab Rs.'SO,000On Oclbber1, 20OEproBrietorintroduced.a
fur.thercapital of Rs.'6,000.The interest at 1Vqis to be allowed on capiital.The interest on
, capitatrtill December31, 2005 will be
46,
'
(.1) Rs. 2,500
(2) Rs. 2,800
(3) Rs. 2,750
(4) Rs. 2,625
Interest o"ndrawings is shown on the
(1) credit side of Profit and TrossAccount
(2)
debit side of Profit and Loss Account
(3)
credit side of Trading Account
(+)
debit side of Trading Account
:
4f.
Itthe debit and'credit sides,'of tlie frial Bhlanice do not,,tafu,:the
difference is put against
',
'
the
.
;
(1) Suspense Account
' ( 2 ) P r o f l t a n d L o s s A e c o u n t . . . : . ' ' , . : ] , . . , . , . . . , "
(3)
:
48.
, ,
Trading Account
@t) Adjustment Account
'
,
l
.
Which of the'follbwing is an'exalriple of current asset ? :
(1)
Stock
(2)
Sundrydebtors
tgl
(4)
Shod-f,erm investments
:
' ' ,
AII of the above
'
49. Cooa#n is a
(1)
)
,
(4)
- ' '
Intangible asset,
' ' .
.
Tangible asset
(3), Fixed asset
PCO-01
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am
tfr c'n$ r {fr vt6zaffiq,,qqS'41-qfr*t vRr$' t slfrsqt, zgo5ils'{fivt
t'n
(1) 2,500d'.
(2) 2,800{.
.:
(3) 2,750F'
.
(4) 2,626I''
qt qrsT f€Hr qnr t
46. eTr6qor
(1) qmafr sre * itre qHfr
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(3) €reFffiil?Tfq+{r
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bo. ts Biq{gT€ t
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PCO-o1
( 1 e)
TtD'6rd
b frg ry
SPACE FOR ROUGH WORK
PCO-O1
(20)
11,000