025/2023

Maximum : 100 marks

Time : 1 hour and 30 minutes

1. Which of the following statement are INCORRECT?
]. Depreciation is a non-cash expenditure charged to P & L Account.
11. Assets = Equities is the basic accounting Equation.
II. Provisions are created through appropriation of profits.
IV. Capital profits will be treated as income in the Profit and Loss Account.
(A) Statement I and IT (B) Statement I and IIT
(C) Statement III and IV (D) Statements I, I and IV

2. Based on the following information, the balance as per Bank Pass Book will be :

Balance as per Cash Book Rs. 32,000, Interest on deposit only in the pass book Rs. 2,500,
Bank Charges only in the pass book Rs. 150, Cheque issued to supplier but not yet presented
for payment Rs. 15,000

(A) 19,350 (B) 49,350
(C) 44,650 ௫) 14,850

3. | Which of the following statements are TRUE in respect of Cash Book?
]. Single column cash book is prepared under imprest system.
11. Contra Entries will appear in double column cash book.
111. Three column cash book will contain three amount columns (Cash, Bank and Discount)
(A) Statements I, II and III are True (B) Statements I and II are True
(C) Statement II alone is True (D) Statements IT and III are True

4. Asole trader keeping books under single entry provides the following details :

Opening capital Rs. 25,000, Closing capital Rs. 50,000, Drawings Rs. 10,000. Additional
capital brought during the year Rs. 15,000

Profit of the sole trader is
(A) 20.000 (B) 50,000
(C) 30,000 (D) No Profit No Loss

[P.T.0.]