Maharashtra State BoardHSC Commerce 12th Board Exam
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Important Questions for HSC Commerce 12th Board Exam - Maharashtra State Board - Book Keeping and Accountancy

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Book Keeping and Accountancy
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State any one limitation of Analysis of Financial Statement.

Appears in 9 question papers
Chapter: [9] Analysis of Financial Statements
Concept: Concept of Financial Statement Analysis

what is trial balance ?

Appears in 2 question papers
Chapter: [1] Introduction to Partnership
Concept: Meaning and Definitions of Partnership and Partnership Deed
The debit balance of a trading account.
Appears in 2 question papers
Chapter: [2] Partnership Final Accounts
Concept: Adjustments - Unrecorded Purchases and Sales

Closing stock is always valued at market price.

Appears in 2 question papers
Chapter: [2] Partnership Final Accounts
Concept: Effects of Adjustments-Closing Stock

What do you mean by 'sacrifice ratio'?

Appears in 2 question papers
Chapter: [3] Reconstitution of Partnership
Concept: Admission of a Partner - Sacrifice Ratio and New Ratio

Give word / term or phrase for the following statement.

Winding up of partnership business.

Appears in 2 question papers
Chapter: [4] Dissolution of Partnership Firm
Concept: Dissolution of Partnership Firm

Give word / term or phrase for the following statement.

Excess of income over expenditure of a ‘not for profit’ concern.

Appears in 2 question papers
Chapter: [5] Accounts of “Not for Profit” concerns
Concept: Not for Profit Concerns

An asset which can be converted into cash immediately.

Appears in 2 question papers
Chapter: [5] Accounts of “Not for Profit” concerns
Concept: Additional Information - Opening Balances of Assets and Liabilities
What is 'deficit'?
Appears in 2 question papers
Chapter: [5] Accounts of “Not for Profit” concerns
Concept: Preparation of Income and Expenditure Account and Closing Balance Sheet

Following is the Receipts and Payments Account of Chamber of Commerce, Amaravati for the year ending 31st March 2012 and some additional information.

Receipts and Payments Account For the year ended March 31, 2012
Receipts Amount Payment Amount
To balance b/d (Cash at bank) 11,960 By Printing and Stationery 6,950
To Subscription (Including Rs. 2,500 for 2010–11) 36,500 By Repairs 2,100
To Sale of furniture (Books value Rs. 18,000) 12,000 By Rent 8,500
To Donation for building fund 27,000 By Books 20,000
To Admission fees (Revenue) 5,050 By Travelling expenses 2,000
    By Investments 40,000
    By Insurance 1,700
    By Balance c/d (Cash at bank) 11,260
       
  92,510   92,510
 
Additional information:
Particulars 1.04.2011 31.03.2012
Outstanding
Subscription
3,000 5,000
Furniture 32,000 12,600
Building Fund 1,45,000  
Capital Fund 1,51,960  
Investment 2,50,000  

Prepare Income and Expenditure A/c for the year ended 31st March, 2012 and Balance Sheet as on that date.

Appears in 2 question papers
Chapter: [5] Accounts of “Not for Profit” concerns
Concept: Preparation of Income and Expenditure Account and Closing Balance Sheet
Which statement is prepared under single entry system to ascertain profit?
Appears in 2 question papers
Chapter: [6] Single Entry System
Concept: Preparation of Statements for Single Entry System

Answer in one sentence only.
What is statement of affairs?

Appears in 2 question papers
Chapter: [6] Single Entry System
Concept: Preparation of Statements for Single Entry System

What are Noting Charges?

Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Basic Term of Bills of Exchange - Noting Charges

The inland bill which is drawn in and payable in the same country.

Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Important Terms of Bills of Exchange - Term of Bill
State whether the following statement is True or False.
A bill can’t be deposited into a bank for collection.
Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Accounting Treatment of Bill - Sending the Bill to the Bank for Collection, Honour Or Dishonour and Insolvency

State whether the following statement is True or False.

A bill of exchange can be endorsed only once.

Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Accounting Treatment - Endorsement of the Bill, Honour/ Dishonour and Also Insolvency of Acceptor

Answer in one sentence only. 

Who is a Drawer?

Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Accounting Treatment of Bill by the Drawer Or Holder and Drawee

Write True or False
Noting charges are payable to the Notary public on honour of a bill.

Appears in 2 question papers
Chapter: [7] Bill of Exchange (Only Trade Bill)
Concept: Basic Term of Bills of Exchange - Noting Charges

The debenture holder is owner of the company.

Appears in 2 question papers
Chapter: [8] Company Accounts
Concept: Meaning and Concept of Debentures

When shares are forfeited, share capital account is _____________.

a. debited

b. credited

c. adjusted

d. none of the above
Appears in 2 question papers
Chapter: [8] Company Accounts
Concept: Accounting Treatment of Forfeiture and Re-issue of Share
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