BOARD OF SECONDARY EDUCATION, ODISHA
ANNUAL HIGHER SECONDARY EXAMINATION, 2024 (A)
ACCOUNTANCY (COMMERCE)Time: 3 Hours | Full Marks: 80
GROUP – A
1. From the following alternatives given under each bit, write serially the correct answer along with its serial number against each bit: (1×12=12)
a) Bad debt is : (i) an expense (ii) a loss (iii) an asset (iv) an income
(b) Furniture of an electronic shop is : (i) a fixed asset (ii) a current asset (iii) a liquid asset (iv) a fictitious asset
(c) Example of wasting asset is : (i) land (ii) building (iii) oil well (iv) goods
(d) Balance Sheet reveals : (i) gross profit (ii) net profit (iii) cash in hand (iv) financial position
(e) Outstanding subscription on a particular date of a ‘not for profit organization’ is : (i) an income (ii) an expense (iii) an asset (iv) a liability
(f) Life membership fee of a ‘not for profit organization’ is : (i) an income (ii) an expense (iii) a capital receipt (iv) a revenue receipt
(g) Depreciation is a process of : (i) valuation of asset (ii) allocation of cost of asset (iii) amortization of loan (iv) duplication of asset
(h) Under straight-line method of depreciation, the amount of annual depreciation : (i) increases every year (ii) decreases every year (iii) remains constant every year (iv) increases some year and then decreases
(i) In accounts from incomplete records system, capital at the end of the accounting period is ascertained by preparing : (i) Capital Account (ii) Cash Account (iii) Statement of Affairs (iv) Sundry Debtors Account
(j) When assets are revalued, any increase in the value of assets is debited to : (i) Revaluation Account (ii) Asset Account (iii) Profit and Loss Account (iv) Profit and Loss Appropriation Account
(k) A and B sharing profits and losses in the ratio of 3:2, admit C. The new ratio among A, B and C is 4:3:3. Sacrificing ratio of A and B is : (i) 3:2 (ii) 4:3 (iii) 1:1 (iv) 2:1
(l) Calls-in-arrear of a company is : (i) an asset (ii) a liability (iii) an expense (iv) an income