172/2015

Maximum : 100 marks 5
Time : 1 hour and 15 minutes

௩ Which of the following errors will be disclosed in the trial balance?
(A) Recording transactions in the wrong account
യു Duplication of a transaction in the accounting records
(©) Posting only the debit portion of a particular journal entry
(D) Recording the wrong amount for a transaction to both the account debited and the
account credited

2 Which of the following account usually shows a credit balance?
(ക Capital account (B) Bank overdraft
(C) Both (A) and (B) (D) Purchase account

3. Identify the correct statement :
(ಗ) Carriage inwards and carriage outwards are both credit balances

‎Returns inwards and returns outwards are both debit balances‏ برق
‎நிண carriage inwards and carriage outwards appear in the trading account‏ )©(
‎(D) None of these‏

‎4. A debit balance on a partner’s current account must indicate that :
(A) Drawings are higher than the profit share for that year
| (B) They are insolvent -
‏مق‎ They have a credit balance on their capital account
(D) They have withdrawn more than they have earned in the partnership

‎5. ‏سما‎ the item that would not be found in the Profit and Loss Appropriation account of
partners :
(வி interest on loan by partner to partnership
(B) interest on drawings
(0 salaries
(D) interest on capital

‎| If a partner cannot clear his debts on 618801011೧8, 1130 other partners must clear these debts
in the following manner :

‎(4) sharing 28110 of the partnership

‎(ए) in the ratio of their capital balance

‎(C) shared equally

‎(1) debts should not be cleared by other partners

‎7. Conversion cost = —————

‎(A) Direct Material + Direct Labor + Direct Expense
(B) Direct Labor + Direct Expense + Factory Overheads
(0 Works cost — Direct Material

‎(D) Both (B) and (C)

‎15.0

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