Accounts Revision for Class 11 Commerce focuses on key accounting principles, journal entries, and financial concepts essential for students preparing for their examinations. This document includes various accounting problems, multiple-choice questions, and detailed explanations of concepts such as trial balances, depreciation, and accounting standards. Designed for students aiming to excel in their commerce studies, it serves as a comprehensive resource for revision and practice. The content is structured to facilitate understanding of complex topics and enhance problem-solving skills in accounting.

Key Points

  • Includes multiple-choice questions and answers for Class 11 Commerce
  • Covers essential accounting concepts like trial balance and depreciation
  • Provides practical examples of journal entries and financial transactions
  • Designed for students preparing for their accounting exams
Khushi Tirthani
8 pages
Language:English
Type:Past Paper
Accounting
Khushi Tirthani
8 pages
Language:English
Type:Past Paper
Accounting
256
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* Select the correct option from Given Answer.
[16]
Section A
KAMAL GROUP TUITIONS
STD 11 Commerce AccountDa te : 31-03-2026 Total Marks : 80
ACCOUNTS REVISION
What is the limitat ion of acco unting?1.
(A) shows profitability (B) shows ec onomic status
(C) tax planning (D) sta ble value of money
Which of the following transac tions is a transaction of special nature ?2.
(A) Goods purchase of₹5,000.
(B) Goods of₹5,000 purchased from 'B'.
(C) Good s of₹5,000 purchased through cheque.
(D) Goods destro yed by fire₹5,000.
Which of the following is co rrect for s uply of within state / union territory?3.
(A) CGST + SGST/UTGST (B) IGST + SGST/UTGST
(C) CGST + IGST (D) IGST - SGS T/UTGST
The total of debit and credit side of journal are ......... .4.
(A) Non-identical (B) Identic a l
(C) Debit (D) Credit
When revenue expense are paid in cash,5.
(A) increase in assets - increase in liability
(B) decrease in assets - decrease in capital
(C) increase in assets - inc rease in capital
(D) decrease in assets - decrease in liability
When trial balance does not tally, it is tallied temporarily with the help of………
ac count .
6.
(A) Trading A/c. (B) Suspense A/c.
(C) Profit and loss A/c. (D) Balan ce sheet
.......... balance is generally not used fo r d istribution of dividend.7.
(A) General reserve (B) Provision (C) Reserve fun d (D) Capital reserve
Whenever th ere is change in method of providing depreciation, the impact of
s uch change on the profit or loss and in the value of asset should be disclos ed
in fina ncial statements based on .......... Concept.
8.
(A) FullDisclos ure (B) Cost (C) Going Concern (D) Dual Aspect
Page 1
* Write Answer In One Or Two Sent ence .
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Section B
Who issu es Indian Accou nting Standa rds?9.
(A) ICAI (B) SBI (C) IFRS (D) IASB
When money is lended to a person for on e day, the amount is known by which
name?
10.
(A) Ublek (B) Upar Tapke (C) Desavar (D) None of three
Under single entry system ……………..11.
(A) Only one effect for all transaction
(B) Two effec t (ent ry) for all trans a ctio n
(C) No effect fo r any transaction
(D) Only one effect for some trans action and two effect for remaining transaction
Accounting Informa tion System is a part of ………………. .12.
(A) Marketing Information S ystem (B) Management In formation System
(C) Managerial Information System (D) Manpower Information System
Which type of discount is not recorded in the cash b ook ?13.
(A) Kasar (B) Discount received
(C) Discount allowed (D) Trade disco unt
Why is it necessary to write adjustment entry at th e end of the year for c losing
s tock?
14.
(A) To rectfy the error (B) To find true profit or loss
(C) To transfer the account (D) To close the account
What are the metho ds to prepare a trial balance ?15.
(A) only in a statement form
(B) only in account form
(C) any other method
(D) (a) and (b) both
Bank balance a s per cash book means…………. balance.16.
(A) debit (B) credit
(C) debit or credit (D) debit and credit
Give three illustrations of goods going out in other ways.1.
As per the norms of Double Entry System, h ow is the total of two compo nents
of Balance Sheet?
2.
Give four illustrations of capital reserve.3.
Page 2
* Answer The Following Questions. ( Write any 5 )
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Section C
The own er of a bu siness takes away goods of ₹ 3,000 from business for
personal use. Where will you debit this ? According to which concept?
4.
What is non-trading concern ? Give its illustrations.5.
What is statement of affairs ?6.
What is Tailor-made Accounting Software ?7.
What is posting ?8.
To which account, the following transactio ns will be debited and credited in the
books of Nilima? Describe with reason :
(1) A computer purcha sed for ₹ 8,000.
(2) Stationery purch ased ₹ 1,000.
(3) Purchase made of ₹ 20,000
1.
Write Journal Entry for the following transaction s in th e books of Ramesh :
1 Mita ret urned goods of ₹ 1,000.
2
Goods of ₹ 20,000 sold to Kalpana at 10% trade d iscount and 5%
ca sh discount.
3
Goods of ₹ 2,000 destroyed by fire and insu rance company
admitted claim of ₹ 1,000.
2.
What is Capital Reserve? St ate its uses.3.
What is U taro ? How it is p repared ?4.
Distinguish between debit note and credit note.5.
Rec ord the following transac tions in the journal proper of Shri Naresh:
1. A bill of ₹ 6,000 drawn o n a debtor Ashok, which he accepted and retu rned it
to us.
2. Distributed g oods of ₹ 3,000 as free s a mples.
3. ₹ 6,500 payable to Pankaj is accepted by Yogesh to pay.
6.
Pa ss jounral entries for closing t he fo llowing account :
(1) Interest expense account ₹ 1,000
(2) Sales return account ₹ 3,000
(3) Purchase retu rn account ₹ 2,000
7.
From th e follo wing tra nsactions, prepare the purcha se book of Shri
Meenakumari and post them in ledger:
On 1 – 7 – 2019, Goods of ₹ 9,000 are purchased from Heema at 20% trade
discount.
On 5 – 7- 2019, Goods of ₹ 20,000 pu rchased from Jaya at 10% cash d iscount and
paid half of the amount immediately.
8.
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FAQs

What are the limitations of accounting mentioned in the document?
The document outlines several limitations of accounting, including that it shows profitability, economic status, and aids in tax planning. However, it also notes that accounting does not reflect the stable value of money, which can lead to misinterpretations of financial health over time.
Which accounting standards are issued by ICAI?
According to the document, the Indian Accounting Standards are issued by the Institute of Chartered Accountants of India (ICAI). These standards guide the preparation and presentation of financial statements, ensuring consistency and transparency in accounting practices.
What is the significance of the suspense account in accounting?
The document states that when a trial balance does not tally, it can be temporarily balanced using a suspense account. This account is essential for identifying discrepancies in financial records and allows accountants to continue their work while investigating the errors.
What is the treatment for revenue expenses paid in cash?
When revenue expenses are paid in cash, the document indicates that there is a decrease in assets and a corresponding decrease in capital. This reflects the outflow of cash for operational costs, impacting the overall financial position of the business.
What is the correct method for supply within a state or union territory?
The document specifies that for the supply of goods within a state or union territory, the correct method involves the application of CGST and SGST or UTGST. This dual taxation system is crucial for compliance with Goods and Services Tax regulations.
What are the methods to prepare a trial balance as mentioned in the document?
The document states that a trial balance can be prepared in two formats: statement form and account form. Both methods serve to verify the accuracy of bookkeeping by ensuring that total debits equal total credits.
How is a capital reserve defined in the document?
The document defines a capital reserve as a reserve that is not typically used for the distribution of dividends. It is created from capital profits and is intended for specific purposes such as reinvestment in the business or covering future liabilities.

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