OMTEX CLASSES: HSC ACCOUNTS MARCH 2018 BOARD QUESTION PAPER

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HSC ACCOUNTS MARCH 2018 BOARD QUESTION PAPER

HSC ACCOUNTS MARCH 2018 BOARD QUESTION PAPER
Q 1. A. Answer:


1. Trial Balance is a list of all debit and credit balances of ledger accounts.

2. Entrance fees is the fees paid by the person who intends to become members of ‘not for profit concern’.

3. Qualified acceptance is a type of acceptance in which drawee makes changes in the conditions mentioned in the bill.

4. Gain ratio is required to be calculated in case of retirement of partner, when goodwill is raised equal to share of retiring partner and written off.

5.
B. Answers:

(1) Unrecorded assets

(2) Capital

(3) Endorsee

(4) Gain ratio

(5) Single Entry System


(C) Answers:

(1) Debited

(2) 25th January, 2017

(3) Statement of Affairs.

(4) Realization Account.

(5) Purchases.


(D) Answers.

(1) False.

(2) True

(3) True

(4) True

(5) True




Q. 2. Single Entry Solution: For Solution Click Here