Occupation
1. With the aid of a diagram, show the different
classes of occupation.
2. Explain with one example each, three classes
of occupation.
3. Distinguish between commerce and industry.
4. State and explain the factors to consider
when choosing an occupation.
5. Give five types of commercial occupation.
6. Distinguish between direct service and
indirect service.
7. State five importance of commerce.
8. Explain the term legitimate activities.
9. Distinguish between industrial workers and
commercial workers.
10. Explain the meaning of occupation.
11. Distinguish between wages and salaries.
12. Re-arrange the following to direct or indirect
service.
i.
ii.
iii.
iv.
Private lawyers
Nurse
Carpenter
Plumber
v.
vi.
vii.
viii.
Accountant
Trader
Cleaner
Barber
PRODUCTION
1. What is utility?
2. Explain the two types of goods.
3. Differentiate between material want and
immaterial want.
4. Explain what is production.
5. Production is not complete until goods
reaches the final consumers. Discuss.
6. State and explain the factors of production.
7. Explain any three types of production.
8. With the aid of a diagram, show the various
division of production.
9. State and explain five types of capital.
10. Give three features of any three factors of
production.
11. State four importance of production.
12. Give three examples of any two types of
production.
13. Explain four factors that determine the
volume of production.
CAPITAL, LABOUR AND ENTERPRENUER.
14. State five features of each of the following;
a. Land ii. Capital iii. labour
15. Distinguish between skilled and semi-skilled
labour, and give three examples each.
16. Who is an entrepreneur?
17. Discuss any five types of capital.
18. State five importance of capital.
19. State five functions of an entrepreneur.
20. Give five reason why entrepreneur is
separated from labour.
21. State four reasons why land is different from
other factors of production.
22. What is mobility of labour?
23. Land is a free gift of nature. Discuss
24. What is working capital.
25. State four importance of working capital to a
business.
26. Give five features of entrepreneur.
DIVISION OF LABOUR, SPECIALIZATION AND
EXCHANGE
27. State and explain four limitation to division of
labour.
28. State four advantages and disadvantages of
specialization.
29. What is exchange?
30. Division of labour and specialization
necessitate exchange. Discuss
31. Define division of labour.
32. Define occupation.
33. Define occupational mobility of labour.
34. Identify any four barriers to occupational
mobility of labour.
RETAIL TRADE
1. Distinguish between retailing and a retailer.
2. Give four functions of the retailer to the
customer.
3. State five features of a retailer.
4. State and explain five factors to consider
when starting a retail business.
5. Give four factors a retailer considers when
making purchase.
6. State five factors that contribute to the failure
of retail business.
7. Who is an itinerant trader?
8. Write short notes on the following:
i. Hawking
ii. Mobile shops
iii. Tied shops
iv. Vending Machine
v. Street Retailing
9. State 5 reasons why small scale business are
common in west Africa.
10. State four features of the following:
i. Hawking
ii. Outside traders
11. State three advantages and four
disadvantages of small retail trade.
12. State four reasons why small retail trade
continues to exist despite the competition of the
large scale business.
Retail Trade (B)
1. State five importance of branding a product
2. Give three advantages and four disadvantages
of branding a product.
3. What is self-service?
4. Give reasons why a producer may involve in
personal selling.
5. Write shot notes on the following:
i. Branding
iv. Personal selling
ii. Pre-packaging
v. After-sale services
iii. Party selling
vi. Franchising
6. Give five reasons why a manufacturer prepackages his goods.
7. State four advantages of small-scale business
over large scale business
8. State three advantages of Franchising.
9. Explain the following:
i. Mail order
iv. Department stores
business
v. Supermarkets
ii. Multiple stores
vi. Variety chain
iii. Hyper market
stores
10. Distinguish between small scale business and
large-scale business.
11. State four differences between supermarket
and hypermarket.
12. Who is a retailer?
13. Give five features of self-services
14. State four disadvantages of pre-packaging.
Wholesale trade
1. With the aid of diagram, show different
classifications of wholesale.
2. Who is a wholesaler?
3. State five functions of the wholesaler to the
retailer.
4. Who as an agent middleman?
5. Write short notes on the following:
i. Merchant wholesaler
ii. Limited function wholesaler
iii. Auctioneers agents
iv. Del Credere agent
6. State 5 factors to consider before choosing a
channel of distribution.
7. Distinguish between direct channel of
distribution and indirect channel of distribution.
8. State 5 reasons for the elimination of the
middlemen in the channel of distribution.
9. State four benefits of a manufacturer in the
direct channel of distribution.
10. Distinguish between wholesaling and a
wholesaler.
11. Who is a factor?
12. Give six differences between a wholesaler
and a retailer.
13. Give four reasons why warehouse prices are
lower than retail prices.
14. Give four advantages of small-scale retail
trade over large-scale retail trade.
15. What are the four ways of improving the
system of distribution?
WAREHOUSING
1. State and explain three types of warehouse.
2. State and explain factors to be considered
when sitting a warehouse.
3. State six importance of a warehouse.
4. What is a warehouse?
5. State fi problems associated with
warehousing.
INTERNATIONAL TRADE
1. What is international trade?
2. Explain six similarities between internal and
international trade.
3. Explain four difficulties countries face in the
international trade.
4. State four advantages and disadvantages of
external trade.
5. Outline four measures that can be adopted
to correct balance of payment.
6. State and explain the law of comparative
cost advantage.
7. Identify the steps necessary to enter into
international trade.
8. Give five reasons why free trade does not
exist.
9. Write short notes on the following;
I. Export drive ii. Devaluation
iii. Balance of trade iv. Balance of payment
v. Unfavorable balance of payment
10. Outline five tools used in controlling
international trade.
11. Outline five effects of devaluation.
12. What is favorable balance of trade?
13. State five differences between internal and
external trade.
14. Explain the following terms:
I. import ii. Export iii. Visible import iv. Invisible
export.
15. State five causes of unfavorable balance of
payment.
16. Outline 5 ways in which commercial banks
aid foreign trade.
DOCUMENTS INVOLVED IN FOREIGN TRADE.
1. Give four means of payment in external
trade.
2. Explain three different types of
documentary credits.
3. What is bill of lading?
4. State five information contained in the bill
of lading.
5. Differentiate between a dirty bill from a
clean bill of lading.
6. What is factoring?
i.
i.
7. State and explain the meaning of each of
the following terms used in foreign trade;
C.F ii. F.O.Q iii. F.A.S iv. F.O.R v. F.O.B
8. What is bank draft?
9. Explain the following document;
freight note ii. Indent iii. Import license.
10. Outline three differences between foreign
and local bill of lading.
11. What are protectionist laws?
12. Explain the following terms;
(i) Infant industries (ii) Import duties (iii)
Dumping
13. What is free trade?
BUSINESS UNITS
1. Outline five advantages and four
disadvantages of partnership.
2. Give five reasons for dissolution
partnership.
3. State five factors that determine the size
of a business unit.
4. Give four causes of goodwill.
5. What is a partnership deed?
6. Give five advantages and disadvantages of
a sole trader.
7. Explain any two types of partnership
8. State and explain any four features of a
sole proprietor.
9. What is a partnership?
10. Give five rights of a partner in a
partnership business.
11. State and explain any five kinds of a
partner.
12. Give five reasons why private enterprises
tend to be generally more efficient than
public enterprises.
13. Give five reasons for the continued
existence of small scale business units.
BUSINESS UNITS (II)
1. Outline three features of limited partnership
and ordinary partnership.
2. What is a company?
3. Explain any two types of limited liability
company.
4. What is a joint stock company?
5. Outline four features of each of the following;
I. private limited liability company ii. partnership
Iii. Limited partnership. Iv. Ordinary partnership.
6. Distinguish between partnership and public
company.
7. State the source of capital for each of the
following;
I. partnership ii. Sole proprietor.
8. give four advantages and disadvantages of sole
trader over partnership.
9. at is a legal entity?
10. State five contents found in a partnership deed.
11.Differentiate between an active partner and a
limited partner.
12. What is a liability?
MONEY AND BARTER SYSTEM
1. What is money?
2. Outline five disadvantages of barter system.
3. Outline six qualities of money.
4. Give five functions of money.
5. Give five differences between money and
commodities used for exchange during barter
system.
6. What is a legal tender?
7. What is a barter system or trade by barter?
8. Explain four types of money?
9. State five importance money to commerce.
10. What is bank money?
COMMERCIAL BANKS
1. What is a commercial bank?
2. Explain three types of bank accounts.
3. Give five functions of commercial banks.
4. Outline five factors a bank manger considers
before granting loans.
5. State five functions of a cheque.
6. Outline the procedures for opening a current
account.
7. Give four differences between a current
account and saving.
8. What is a cheque?
9. Explain the parties of a cheque.
10. State five reasons for dishonoring.
11. State and explain four types of cheques.
12. what is a dishonored cheque?
13. Explain the following;
i. Bounce cheque. Ii. Bank draft. Iii. Cheque clearing
system. iv. Travelers cheque.
14. `outline four effects of crossing a cheque.
15. state and explain two ways of crossing a cheque.
16. state and explain three methods in which a
cheque is cleared.
17. state and explain four reasons why a trader
would prefer the use of a cheque to cash for large
payment.
18. state five features of a cheque.
19. 0utline four special means of bank payment.
20. Distinguish between a cheque and a paper
money.
CENTRAL BANK AND OTHER BANKS.
1. Outline six differences between a central bank and
a commercial bank.
2. Give five functions of a central bank.
3. state and explain four way by which a central bank
controls the activities of the commercial bank.
4. outline four roles central banks play in the
economic development of West Africa.
5. what is a central bank?
6. give five features of a central bank.
7. write short notes on the following banks;
i. merchant bank. Ii. Mortgage bank. Iii.
Development bank.
8. state four differences between commercial banks
and merchant banks.
9. differentiate between capital market and money
market.
10. Give five functions of a merchant bank.
11. what is a co-operative bank?
12. give five functions of development bank.
13. what is a capital market.
14. explain the following;
i. Discount house. ii. Build societies. Iii. Acceptance
house.
TRANSPORTATION
1. what is transportation?
2. state five importance of transportation.
3. outline five factors that may influence the choice
of transportation.
4. state and explain five documents involved in
transportation.
5. state and explain four advantages and
disadvantages of each of the following;
i. transport by water. ii. transport by air. iii.
transport by pipeline. Iv. Transport by railway.
6. what is a container?
7. give five advantages of the use of containers.
8. what is a charter party?
9. state four factors affecting railway charges.
10. write short notes on the following;
i. consignee ii. Consignor. Iii. Consignment. Iv.
Freight.
11. give four advantages and disadvantages of land
transport.
12. state and explain four methods of transportation.
CUSTOM, EXCISE, SEA AND AIRPORT AUTHORITIES
1. define custom and excise authority.
2. what are the duties collected by custom and excise
authority?
3. state five duties of the custom and excise
authorities.
4. explain the meaning of port authority.
5. state five functions of the port authority.
6. differentiate between ad-valorem duty and
specific duty.
7. give five functions of seaport.
8. outline five roles of airport.
9. what is career opportunity?
10. outline five career opportunity in commerce.
CREDIT
1. state and explain five types of credit sale.
2.explain the following term;
i. hire purchase ii. Conditional sale iii. Credit sale.
3. state and explain three problems of granting
credit.
4. outline five differences between hire purchase and
differed payment.
5. give four advantages and disadvantages of hire
purchase to the following people;
i. seller ii. Buyer.
6. give four advantages of credit to the following
parties;
i. debtor ii. Creditor.
7. outline four similarities between hire purchase and
differed payment.
8. what is differed payment?
9. write short note on the following;
i. mortgage ii. Bank overdraft.
10. list ten credit instruments.
11. distinguish between a debtor and a creditor.
CONSUMER PROTECTION
1. what is consumerism?
2. state and explain five rights of a consumer.
3. outline five reasons for consumer protection.
4. state five government legislations aim at consumer
protection.
5. state four independent organizations aim at
consumer protection.
6. what is consumer protection?
7. state five government organs that are set up for
consumer protection.
DOCUMENTS AND MEANS OF PAYMENT USED IN THE
ACT OF BUYING AND SELLING GOODS.
1. Give six documents used in buying and selling.
2. What is proforma invoice?
3. state five reasons for granting discounts.
4. Outline any five circumstances in which a
proforma invoice is used.
5. Outline five reasons for issuing a credit note.
6. write short notes on the following;
i. invoice ii. Catalogue iii. Dispatch note iv. Receipt.
7. what is a delivery note?
8. distinguish between trade discount and cash
discount.
9. give five contents contain in an invoice.
10. what is a carriage forward?
11. state five contents contain in a delivery note.
12. what is a means of payment?
13. state five factors that determine methods of
payment to be used.
14. what are the different means of payment
provided by the post office.
15. outline four means of payment provided by
businessmen.
16. state and explain five means of payment
provided by the post office.
17. explain the role the state plays in the provision of
means of payment.
LIMITED LIABITY COMPANY.
1. What is a company?
2. State and explain three types of company.
3. State and explain any two types limited.
4. What is certificate of incorporation?
5. Outline five advantages of limited liability
company.
6. Give five sources of capital for limited liability
company.
7. Give five differences between limited liability
company and partnership.
8. Write short notes on the following;
(I)
Prospectus (ii) Certificate of trading (iii)
Underwriting.
9. State five features of a limited liability
company.
10. What is a joint stock company?
11. State five advantages of limited liability
companies.
12.
OBJECTIVE
A document, which informs the buyer that his
account has been credited with a particular
amount, is called
(A) Credit note (B) Debit note (C) Invoice (D)
Quotation
2. In case of default in payment, the seller can
repossess the goods in
(A) Credit sale (B) Instalment payment system
(C) Hire purchase system (D) All of these
3 An advance money required to be deposited
with tender is called
(A) Reserve price (B) Earnest money (C)
Instalment (D) None of these
4. All the activities directed towards the flow of
goods from the producer to the consumer are
part of
(A) Transportation (B) Payment (C)
Advertisement (D) Selling
5. We purchase the following by inspection:
(A) Vegetables (B) Fruits (C) Shirt (D) All of these
6. Example(s) of large scale retail trade is/are
(A) Departmental store (B) Multiple stores (C)
Super bazar (D) All of these
7. Large scale cooperative store of the
consumers where daily-use goods are available
under one roof, is called
(A) Super bazar (B) Chain stores (C) Mail order
house (D) Automatic vending machine
8. Buying and selling takes place without any
face-to-face contact in
(A) Mall (B) Departmental store (C) Mail order
house (D) Chain stores
9. Knowledge of computers is required if goods
are bought
(A) in a mall (B) through online shopping (C) in a
departmental store (D) in chain stores
10. Selling directly to consumers is called
(A) Wholesale trade (B) Retail trade (C) Import
(D) Export
11. Electronic media of advertising includes
(A) Poster (B) Newspaper (C) Vehicular display
(D) Internet
12. Distribution of free samples is a tool of
(A) Sales promotion (B) Advertisement (C)
Personal selling (D) None of these
13. To present and explain the special features
and uses of a product to consumers the best
method of sales promotion is
(A) Price reduction (B) Fairs and exhibitions (C)
Quantity discount (D) Exchange offer
14. The main objective of personal selling is
(A) to raise the standard of living of consumers
(B) to make consumers healthy (C) to send the
goods to consumers’ doorsteps (D) to increase
sales
15. The best medium of advertisement for an
illiterate person is
(A) Newspaper (B) Television (C) Magazine (D)
Poster
16. {ZåZ{b{IV _| go H$m¡Z-gr {dkmnZ H$s
{deofVm Zht h¡ ? 1 (A) àm`moOH$ (ñnm°Ýga)
H$m OmZm nhMmZm hmoZm (B) {H$gr _mÜ`_
Ho$ Ûmam gåàofU (C) g§Xoe H$m ì`{ŠVJV
àñVwVrH$aU (D) ^wJVmZ H$aHo$ {H$`m OmZo
dmbm gåàofU
Which of the following is not a feature of
advertising ? (A) Identified sponsor (B)
Communication through some media (C)
Personal presentation of message (D) Paid form
of communication
17. H«$` H$s {H$Ýht VrZ nÕ{V`m| Ho$ Zm_
~VmBE & 3 Name any three methods of
purchase.
18. {Z{dXm (Q>|S>a) Ûmam {~H«$s H¡$go H$s
OmVr h¡ ? 3 How are goods sold through tender
?
35 9 P.T.O.
19. H«$` Am¡a {dH«$` go Amn Š`m g_PVo h¢ ? 3
What do you understand by purchase and sale ?
20. {H$am`m H«$` nÕ{V Š`m h¡ ? 3 What is Hire
purchase system ?
21. ñdMm{bV {dH«$` _erZ Ûmam {dH«$` hmoZo
dmbr {H$Ýht N>: dñVwAm| Ho$ CXmhaU Xr{OE
& 3 Give any six examples of the products which
are sold through automatic vending machine.
22. ‘~‹S>o n¡_mZo Ho$ \w$Q>H$a ì`mnma’
H$mo n[a^m{fV H$s{OE Am¡a H$moB© Xmo
CXmhaU Xr{OE & 3 Define ‘large scale retail
trade’ and give any two examples.
23. Q>obrem°{n|J go Amn Š`m g_PVo h¢ ? 3
What do you understand by Teleshopping ?
24. S>mH$ Ûmam ì`mnma H$s H$moB© VrZ
{deofVmE± ~VmBE & 3 State any three features
of Mail order house.
25. {dH«$` g§dY©Z H$s {H$Ýht Xmo VH$ZrH$m|
H$mo g§jon _| g_PmBE & 3 Briefly explain any
two techniques of sales promotion.
26. {dkmnZ H$m Š`m AW© h¡ ? BgH$s
{deofVmE± ~VmBE & 3 What is the meaning of
advertisement ? State its features.
27. g_mMma-nÌm| Ho$ _mÜ`_ go {dkmnZ Ho$
Š`m bm^ Am¡a gr_mE± h¢ ? 4 What are the
advantages and limitations of advertising
through newspapers ?
28. d¡`{º$H$ {dH«$` Š`m h¡ ? Cn^moŠVmAm|
H$s ÑpîQ> go BgHo$ Š`m bm^ h¢ ? 4 What is
personal selling ? What are its advantages from
the consumers’ point of view ?
35 10
29. {dH«$` H$s H$moB© Xmo nÕ{V`m± g_PmBE
& 4 Explain any two methods of selling.
30. {ZåZ{b{IV H$mo g_PmBE : 4 (A) O_m nÌ
(H«o${S>Q> ZmoQ>) (~) Zm_ nÌ (S>o{~Q>
ZmoQ>) Explain the following : (a) Credit note
(b) Debit note
31. gwna ~mµOma Š`m hmoVo h¢ ? BZHo$ Š`m
bm^ h¢ ? 4 What are Super bazars ? What are
their advantages ?
32. B§Q>aZoQ> em°qnJ go Amn Š`m g_PVo h¡§ ?
BgH$s Š`m gr_mE± h¢ ? 4 What do you
understand by Internet shopping ? What are its
limitations ?
33. dñVwAm| Ho$ H«$` H$aZo na ^wJVmZ H$s
H$m¡Z-H$m¡Z gr nÕ{V`m± h¢ ? g_PmBE & 5
What are the various modes for making
payment on the purchase of a product ? Explain.
34. {d^mJr` ^§S>ma Am¡a ûm¥§Ibm~Õ
XþH$mZm| (^§S>mam|) Ho$ ~rM A§Va ñnï>
H$s{OE & 5 Differentiate between departmental
store and chain stores.
35. {dH«$` g§dY©Z H$mo n[a^m{fV H$s{OE &
BgH$m _hÎd ~VmBE & 5 Define sales promotion.
State its importance.
36. d¡`{ŠVH$ {dH«$` _| g§b½Z {dH«$`H$Vm©
Ho$ JwU ~VmBE & 5 State the qualities of the
salesman engaged in personal selling.
35 11 P.T.O.
(ii) ~hrImVm VWm boIm§H$Z Ho$ VÎd (ii)
Elements of Book-Keeping and Accountancy
gm_mÝ` {ZX}e : (i) Bg ^mJ _| Hw$b 36 àíZ h¢ &
(ii) g^r àíZ A{Zdm`© h¢ & (iii) àíZ - g§»`m 1 go 18
VH$ ~hþ{dH$ënr` àíZ h¢ Omo àË`oH$ EH$ A§H$
H$m h¡ & {XE JE {dH$ënm| _| go ghr {dH$ën
H$mo CÎma - n wpñVH$m _| {bIZm h¡ & (iv) EH$
àíZ Ho$ g^r ^mJ EH$ - gmW hr H$ aZo h¢ &
General Instructions : (i) This part has 36
questions in all. (ii) All questions are
compulsory. (iii) Questions from serial no. 1 to
18 are Multiple Choice Questions carrying one
mark each. These are to be answered by writing
the correct option in your answer-book. (iv)
Attempt all parts of a question together.
1. Xo` {~b H$mo {XIm`m OmEJm 1 (A) VwbZ nÌ
Ho$ g§n{Îm nj _| (B) VwbZ nÌ Ho$ Xm{`Ëd nj _|
(C) bm^-hm{Z ImVo Ho$ S>o{~Q> nj _| (D) bm^hm{Z ImVo Ho$ H«o${S>Q> nj _|
Bills payable will be shown on the (A) Asset side
of Balance Sheet (B) Liability side of Balance
Sheet (C) Debit side of Profit and Loss A/c (D)
Credit side of Profit and Loss A/c
35 12
2. EH$ {d{Z_` nÌ Ho$ {ZåZ{b{IV nj hmoVo h¢ : 1
(A) 6 (B) 4 (C) 3 (D) 2 A bill of exchange has the
following parties : (A) 6 (B) 4 (C) 3 (D) 2 3. {dnÌ
H$m AZmXa {ZåZ{b{IV H$s CnpñW{V _| à_m{UV
{H$`m OmVm h¡ : 1 (A) A{Ydº$m
(ES>dmoHo$Q>) (B) ~¢H$ (C) {dnÌ à_mUH$
(ZmoQ>ar npãbH$) (D) nw{bg Dishonour of bill is
certified in the presence of the following : (A)
Advocate (B) Bank (C) Notary Public (D) Police 4.
`{X {H$gr {d{Z_` nÌ H$s Xo` {V{W H$mo
gmd©O{ZH$ AdH$me h¡, Vmo dmñV{dH$ Xo`
{V{W hmoJr 1 (A) dhr {XZ (B) AJbm {XZ (C)
{nN>bm {XZ (D) EH$ _hrZo ~mX H$s dhr VmarI If
the due date of a bill of exchange is a public
holiday, the actual due date will be (A) Same day
(B) Next day (C) Preceding day (D) Same date of
the next month
35 13 P.T.O.
5. BgH$mo ~¢H$ go ~Å>o na ^wZm`m Om
gH$Vm h¡ : 1 (A) ~¢H$ S´>mâQ> (B) MoH$ (C)
~rOH$ (D) àmß` {~b It can be discounted with
the bank : (A) Bank draft (B) Cheque (C) Invoice
(D) Bills receivable
6. {ZåZ{b{IV _| go {H$g_| Xo` (^wJVmZ) H$s
Amkm {Z{hV h¡ ? 1 (A) H¡$e _r_mo (B) no-BZpñbn (C) à{Vkm nÌ (dMZ-nÌ) (D) {d{Z_` nÌ Which
of the following contains an order to pay ? (A)
Cash memo (B) Pay-in-slip (C) Promissory note
(D) Bill of exchange
7. EH$ VwbZ nÌ Ho$ Xmo nj hmoVo h¢ 1 (A)
H«$` Am¡a {dH«$` (B) bm^ Am¡a hm{Z (C)
n[ag§n{Îm`m± Am¡a Xo`VmE± (D) S>o{~Q> Am¡a
H«o${S>Q> Two sides of a Balance Sheet are (A)
Sale and Purchase (B) Profit and Loss (C) Assets
and Liabilities (D) Debit and Credit
35 14
8. {ZåZ{b{IV _| go H$m¡Z-gm bm^ H$mo ~‹T>m
XoJm ? 1 (A) g§n{Îm H$m H«$` (B) doVZ H$m
^wJVmZ (C) ZdrZ ny±Or bJmZm (D) Ny>Q> àmßV
H$aZm Which of the following will increase
profit ? (A) Purchase of an asset (B) Payment of
salary (C) Introduction of new capital (D)
Discount received
9. ny±Or {XImB© OmVr h¡ 1 (A) VwbZ nÌ Ho$
g§n{Îm nj _| (B) VwbZ nÌ Ho$ Xm{`Ëd nj _| (C)
bm^-hm{Z ImVo Ho$ S>o{~Q> nj _| (D) bm^hm{Z ImVo Ho$ H«o${S>Q> nj _| Capital is
shown on the (A) Asset side of Balance Sheet (B)
Liability side of Balance Sheet (C) Debit side of
Profit and Loss A/c (D) Credit side of Profit and
Loss A/c
10. EH$ bm^-hm{Z ImVm Xem©Vm h¡ 1 (A)
gH$b bm^ (B) Hw$b n[ag§n{Îm`m± (C) ewÕ bm^
(D) Hw$b Xm{`Ëd A Profit and Loss A/c shows
(A) Gross profit (B) Total assets (C) Net profit (D)
Total liabilities
35 15 P.T.O.
11. {H$gr EH$ {Z{X©îQ> {V{W na EH$ ì`dgm` H$s
{dÎmr` pñW{V H$s OmZH$mar XoZo dmbm
{ddaU h¡ 1 (A) VwbZ nÌ (B) ì`mnma ImVm (C)
VbnQ> (D) bm^-hm{Z ImVm
Statement showing the financial position of a
business on a particular date is (A) Balance
Sheet (B) Trading A/c (C) Trial Balance (D) Profit
and Loss A/c
12. _µOXÿar {XImB© OmEJr 1
(A) bm^-hm{Z ImVo Ho$ S>o{~Q> nj _|
(B) bm^-hm{Z ImVo Ho$ H«o${S>Q> nj _|
(C) ì`mnma ImVo Ho$ S>o{~Q> nj _|
(D) ì`mnma ImVo Ho$ H«o${S>Q> nj _|
Wages will be shown in
(A) Debit side of Profit and Loss A/c
(B) Credit side of Profit and Loss A/c
(C) Debit side of Trading A/c
(D) Credit side of Trading A/c
35 16
13. EH$ ì`dgm` Ho$ A§{V_ ImVm| _| em{_b h¢ 1
(A) ì`mnma ImVm (B) bm^-hm{Z ImVm (C) VwbZ
nÌ (D) `o g^r Final accounts of a business include
(A) Trading A/c (B) Profit and Loss A/c (C)
Balance Sheet (D) All of these
14. {ZåZ{b{IV _| go H$m¡Z-gm Xm{`Ëd H$m
CXmhaU h¡ ? 1 (A) XoZXma (B) boZXma (C) àmß`
{~b (D) `o g^r Which one of the following is an
example of a liability ? (A) Debtors (B) Creditors
(C) Bills receivables (D) All of these
15. AnyU© [aH$m°S>© hmoZo H$s Xem _| bm^
{ZåZ Vah go {ZH$mbVo h¢ : 1 (A) A§{V_ ny±Or +
AmhaU – ZdrZ ny±Or – àma§{^H$ ny±Or (B)
A§{V_ ny±Or – AmhaU + ZdrZ ny±Or – àma§{^H$
ny±Or (C) àma§{^H$ ny±Or + AmhaU + ZdrZ
ny±Or – A§{V_ ny±Or (D) àma§{^H$ ny±Or +
AmhaU – ZdrZ ny±Or – A§{V_ ny±Or In case of
incomplete records, profit is calculated as
follows : (A) Closing capital + Drawings – New
capital – Opening capital (B) Closing capital –
Drawings + New capital – Opening capital (C)
Opening capital + Drawings + New capital –
Closing capital (D) Opening capital + Drawings –
New capital – Closing capital
35 17 P.T.O.
16. BgHo$ Ûmam AnyU© boIm§H$Z [aH$m°S>©
aIo OmZo H$s g§^mdZm A{YH$ h¡ 1 (A) EH$
N>moQ>m XþH$mZXma (B) EH$ ~‹S>r {Z_m©Ur
H$ånZr (C) EH$ ~‹S>m {d^mJr` ^§S>ma (D) EH$
~hþamîQ´>r` H$ånZr There is greater possibility
of maintenance of incomplete accounting
records by (A) A small shopkeeper (B) A big
manufacturing company (C) A big departmental
store (D) A multinational company
17. AnyU© [aH$m°S>© hmoZo H$s pñW{V _|
{dÎmr` pñW{V H$mo Xem©`m OmVm h¡ 1 (A)
VbnQ> Ûmam (B) VwbZ nÌ Ûmam (C) pñW{V
{ddaU (ñQ>oQ>_oÝQ> Am°µ\$ A\o$Ag©) Ûmam
(D) bm^-hm{Z ImVo Ûmam In case of incomplete
records, the financial position is shown by (A)
Trial Balance (B) Balance Sheet (C) Statement of
Affairs (D) Profit and Loss A/c
18. AnyU© [aH$m°S>© _| gm_mÝ`V: aIo OmVo
h¢ 1 (A) ZH$X Am¡a d¡`{º$H$ ImVo (B) Am`-ì``
Am¡a n[ag§n{Îm`m| Ho$ ImVo (C) Xo`VmE±
Am¡a ny±Or Ho$ ImVo (D) `o g^r In incomplete
records, generally kept are (A) Cash and
Personal A/c (B) Income-expense and Assets A/c
(C) Liabilities and Capital A/c (D) All of these
35 18
19. {d{Z_` nÌ H$s H$moB© VrZ {deofVmE±
~VmBE & 3 State any three features of bill of
exchange.
20. [a~oQ> (Ny>Q>) na {~b H$mo MwH$Vm
{H$E OmZo H$m AW© g_PmBE & 3 Explain the
meaning of retiring of a bill under rebate.
21. _yV© n[ag§n{Îm`m| Am¡a A_yV©
n[ag§n{Îm`m| Ho$ ~rM A§Va ñnï> H$s{OE & 3
Distinguish between tangible assets and
intangible assets.
22. ì`mnma ImVm Š`m hmoVm h¡ ? `h Š`m|
~Zm`m OmVm h¡ ? 3 What is a Trading Account
? Why is it prepared ?
23. {H$Ýht VrZ Mmby n[ag§n{Îm`m| Am¡a
{H$Ýht VrZ Mmby Xm{`Ëdm| Ho$ Zm_ ~VmBE &
3 Name any three current assets and any three
current liabilities.
24. A§{V_ ImVm| _| {ZåZ{b{IV _Xm| H$mo
H$hm± Xem©`m OmEJm ? 3 (A) Tw>bmB©
Am¡a ^m‹S>m (B) »`m{V (C) N>moQ>r Ad{Y H$m
(AënH$m{bH$) {Zdoe (D) A§{V_ ñQ>m°H$ (E)
Am°{S>Q> \$sg Where will the following items
be shown in final accounts ? (A) Freight and
carriage (B) Goodwill (C) Short-term investment
(D) Closing stock (E) Audit fees
25. AnyU© [aH$m°S>© H$m Š`m AW© h¡ ?
AnyU© [aH$m°S>© H$s H$moB© Xmo
{deofVmE± ~VmBE & 3 What is meant by
incomplete records ? State any two features of
incomplete records.
26. VwbZ nÌ Am¡a pñW{V {ddaU (ñQ>oQ>_|Q>
Am°µ\$ A\o$Ag©) Ho$ ~rM H$moB© VrZ
{^ÞVmE± ~VmBE & 3 State any three differences
between Balance Sheet and Statement of
Affairs.
35 19 P.T.O.
27. {d{Z_` nÌ go Amn Š`m g_PVo h¢ ? {d{Z_` nÌ
H$m EH$ Z_yZm ~ZmBE & 4 What do you
understand by bill of exchange ? Prepare a
specimen of bill of exchange.
28. g§jon _| g_PmBE : 4 (A) {~b H$mo ~Å>o na
^wZmZm (~) AZwJ«h {Xdg Explain in brief : (a)
Discounting a bill (b) Days of grace
29. {dÎmr` {ddaUm| go Amn Š`m g_PVo h¢ ?
BÝh| Š`m| ~Zm`m OmVm h¡ ? 4 What do you
understand by financial statements ? Why are
they prepared ?