from

CAREER INSTITUTE PVT. LTD.

CLASS-XII CBSE-2023
SUBJECT: ACCOUNTANCY

Time Allowed: 3 Hours Maximum Marks: 80

GENERAL INSTRUCTIONS
i. Read the following instructions very carefully and strictly follow them:
ii. This question paper contains 34 questions. All questions are compulsory.
iii. This question paper is divided into two parts - Part A and Part B.
iv. Part A is compulsory for all candidates.
v. Part B has two options i.e. (1) Analysis of Financial Statements, and (2) Computerised
Accounting. Candidates must attempt only one of the given options as per the subject opted
in Part B.
vi. Questions no. 1 to 16 and 27 to 30 carry 1 mark each.
vii. Questions no. 17 to 20, 31 and 32 carry 3 marks each.
viii. Questions no. 21, 22 and 33 carry 4 marks each.
ix. Questions no. 23 to 26 and 34 carry 6 marks each.
x. There is no overall choice. However, an internal choice has been provided in
7 questions of one mark, 2 questions of three marks, I question of four marks
and 2 questions of six marks.
 ACCOUNTANCY
PART A
(Accounting for Partnership Firms and Companies)
1.(i) Hina and Neena are partners in a firm. Neena withdrew ₹ 10,000 per month at the ginning
of each month during the year ended 31st March, 2022. Interest on drawings was to be
charged @ 6% per annum.
Interest on Neena’s drawings for the year ended 31st March, 2022 will be :
(a) ₹ 3,900 (b) ₹ 325 (c) ₹ 3600 (d) ₹ 3,300
[1]
OR
(ii) Vibha and Asha are partners in a firm. Asha withdrew ₹ 1,000 at the end of each quarter
during the year ended 31st March, 2022.
Interest on drawings will be calculated for an average period of :
1 1 1
(a) 6 months (b) 4 months (c) 7 months (d) 6 months
2 2 2
[1]
2. Aman and Chaman are partners in a firm. On 1st July, 2021 Aman advanced a loan of ₹
6,00,000 to the firm. There is no partnership deed. On 31st March, 2022, Aman was entitled
to get the following amount as interest on loan:
(a) ₹ 36,000 (b) ₹ 18,000 (c) ₹ 9,000 (d) ₹ 27,000
[1]
3.(i) Akshita Ltd. issued fully paid shares of ₹ 5,00,000 in purchase consideration of net assets of
₹ 4,70,000. The balance of ₹ 30,000 will be _____ to _____ account.
[1]
(a) debited, Goodwill (b) debited, Capital Reserve
(c) credited, Capital Reserve (d) credited, General Reserve

(ii) Maira Ltd. took over assets of ₹ 12,00,000 and liabilities of ₹ 4,00,000 of Subav Ltd. for an
agreed purchase consideration of ₹ 9,00,000. The amount was payable by issue of 11%
debentures of 100 each at 10% discount. The number of debentures issued will be:
[1]
(a) 9,000 (b) 10,000 (c) 8,000 (d) 11,000

Read the following hypothetical situation and answer questions number 4 and 5 on the
basis of the given information:
Kavita, Savita and Madhu were partners in a firm with capitals of ₹ 6,00,000, ₹ 4,00,000
and ₹ 2,00,000 respectively. After providing interest on capital @ 10% p.a., the profits are
divisible as follows:
1 1 1
Kavita , Savita and Madhu . Kavita personally guaranteed that Savita's share of profit
3 2 6
after charging interest on capital would not be less than ₹ 1,00,000 in any year.
The profit for the year ending 31st March, 2022 amounted to ₹ 3,00,000 before providing
interest on capital.

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 JUNE-2023
4. Savita's share of profit is short of the guaranteed amount by:
(a) ₹ 40,000 (b) ₹ 70,000 (c) ₹ 20,000 (d) ₹ 10,000
[1]
5. The total profits of the firm after adjustment of guaranteed amount will be distributed
between the partners as:
(a) Kavita ₹ 60,000, Savita ₹ 40,000 and Madhu ₹ 20,000
(b) Kavita ₹ 50,000, Savita ₹ 1,00,000 and Madhu ₹ 30,000
(c) Kavita ₹ 60,000, Savita ₹ 90,000 and Madhu ₹ 30,000
(d) Kavita ₹ 60,000, Savita ₹ 1,00,000 and Madhu ₹ 20,000
[1]
6.(i) A company forfeited 400 shares of ₹ 10 each, ₹ 8 per share called up for non-payment of
first call of ₹ 2 per share. On forfeiture of these shares, 'Share Capital' account will be
debited with :
(a) ₹ 4,000 (b) ₹ 800 (c) ₹ 3,200 (d) ₹ 2,000
[1]
(ii) Xyle Ltd. forfeited 700 shares of ₹ 10 each issued at a premium of 10% for non-payment of
allotment money of ₹ 5 per share (including premium) and first and final call of ₹ 3 per
share. On forfeiture of these shares, 'Share Forfeiture Account' will be credited with:
(a) ₹ 7,000 (b) ₹ 1,400 (c) ₹ 4,900 (d) ₹ 2,100
[1]
7.(i) Rohit Limited issued 2,000, 9% Debentures of 100 each at ₹ 95 per debenture. 9%
Debentures account will be credited by:
(a) ₹ 1,90,000 (b) ₹ 1,10,000 (c) ₹ 2,00,000 (d) ₹ 10,000
[1]
OR
(ii) Which of the following statements is incorrect?
(a) Interest on debentures is a charge and not an appropriation.
(b) Debentures can be issued at discount.
(c) Debenture holders do not have voting rights.
(d) Debentures cannot be converted into shares.
[1]
8. Aman, Aadhar and Avinash were partners and sharing profits in the ratio of 3 2 1. Avinash
retired from the firm on 1st July, 2022. On the date of Avinash's retirement, the Balance
Sheet showed a debit balance of 1,20,000 in the Profit and Loss Account. For calculating the
amount payable to Avinash, this balance will be transferred:
(a) To the debit side of the capital accounts of Aman and Aadhar in old profit sharing
ratio.
(b) To the debit side of the capital accounts of Aman, Aadhar and Avinash in old profit
sharing ratio.
(c) To the credit side of the capital accounts of Aman and Aadhar in new profit sharing
ratio.
(d) To the credit side of the capital accounts of Aman and Aadhar in their gaining ratio.
[1]
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 ACCOUNTANCY
9. Nidhi, Kunal and Kabir are partners in a firm sharing profits in the ratio of 2 : 1 : 2. Kunal
retired and the balance in his capital account after making necessary adjustments on
account of reserves, revaluation of assets and reassessment of liabilities was ₹ 80,000.
Nidhi and Kabir agreed to pay him ₹ 1,00,000 in full settlement of his claim. Kunal's share
of goodwill of the firm, on his retirement was :
(a) ₹ 4,000 (b) ₹ 20,000 (c) ₹ 16,000 (d) ₹ 1,80,000
[1]
10. Assertion (A): Goodwill is a intangible asset.
Reason (R): Goodwill is the value of the reputation of a firm in respect of profits expected
in future, over and above the normal profits.
Select the correct answer from the following:
(a) Assertion (A) is correct, but Reason (R) is wrong.
(b) Assertion (A) is wrong, but Reason (R) is correct.
(c) Both Assertion (A) and Reason (R) are correct.
(d) Both Assertion (A) and Reason (R) are wrong
[1]
11. 'A' and 'B' were partners in a firm sharing profits and losses in the ratio of 7 1. 'A' withdrew
a fixed amount of 12,000 at the beginning of each quarter. Interest on drawings is charged
@ 6% p.a. The journal entry for charging interest on drawings at the end of the year will be:
(a) Interest on drawings A/c Dr. ₹ 1,800
To A's Capital A/c ₹ 1,800
(b) Interest on drawings A/c Dr. ₹ 1,800
To A's Current A/c ₹ 1,800
(c) A's Capital A/c Dr. ₹ 1,800
To Interest on drawings A/c ₹ 1,800
(d) Profit and Loss Appropriation A/c Dr. ₹ 1,800
To Interest on drawings A/c ₹ 1,800
[1]
12. That part of the authorised capital which is actually issued to the public for subscription is
called:
(a) Subscribed capital (b) Issued capital
(c) Authorised capital (d) Reserve capital
[1]
13. Zinki Limited forfeited a share of ₹ 100 issued at a premium of 20% for non-payment of
first call of ₹ 30 per share and final call of ₹ 10 per share. The minimum price at which this
share can be reissued is :
(a) ₹ 40 (b) ₹ 60
(c) ₹ 20 (d) ₹ 100
[1]
14. Akshita and Anurag are partners in a firm sharing profits in the ratio of 2 : 1. Akshat is
admitted in the firm with 1/3 share in profits. Akshat acquires 2/3 of his share from
Akshita and 1/3 of his share from Anurag.
The new profit sharing ratio of Akshita, Anurag and Akshat will be:

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 JUNE-2023
(a) 3:2:4 (b) 4:3:2
(c) 2:1:1 (d) 4:2:3
[1]
15. Which of the following will be transferred to Realisation Account at the time of dissolution
of firm?
(i) Provision for Doubtful Debts (ii) Partners' Loan
(iii) General Reserve (iv) Goodwill
(a) (i) and (iv) (b) (i), (ii) and (iv)
(c) (i), (iii) and (iv) (d) (i), (ii) and (iii)
[1]
16.(i)P, Q and R were partners in a firm sharing profits and losses in the ratio of 4:3:1. P died on
1st September, 2022. On the date of P's death, the profits of the firm were calculated as ₹
80,000. P's share of profit will be adjusted by:
(a) Debiting Profit and Loss Account with ₹ 40,000.
(b) Debiting Profit and Loss Appropriation Account by ₹ 40,000.
(c) Debiting Profit and Loss Suspense Account with ₹ 80,000.
(d) Debiting Profit and Loss Suspense Account with ₹ 40,000.
[1]
OR
(ii) Pooja, Nita and Anita were partners in a firm sharing profits and losses in the ratio of 3: 2 1.
Pooja retired and her share is taken up by Nita and Anita equally. The new profit sharing
ratio of Nita and Anita will be:
(a) 2:1 (b) 7:5 (c) 1:1 (d) 3:2
[1]
17. Suman, Vivek and Vinod were partners in a firm sharing profits and losses in the ratio of
5:3:2. Suman retired on 1st April, 2022. After making all adjustments relating to
revaluation, goodwill and accumulated profits, etc., the capital accounts of Vivek and Vinod
showed credit balances of ₹ 3,60,000 and ₹ 1,40,000 respectively. It was decided to adjust
the capitals of Vivek and Vinod in their new profit sharing ratio. Pass necessary journal
entries for bringing in or withdrawal of the necessary amounts. Show your working clearly.
[3]
18. Anu, Manu, Tanu and Kanu were partners in a firm sharing profits and losses in the ratio of
2:1:2:1. They decided to share profits and losses in the ratio of 4:2:3:1 with effect from 1 st
April, 2022. On this date, goodwill of the firm was valued at ₹ 1,20,000 and General Reserve
appeared in the books at ₹ 36,000. Pass necessary journal entries for the above
transactions. Show your workings clearly.
[3]
19.(a)Annex Ltd. issued 1,00,000 shares of ₹ 10 each at a premium of 10% to the public for
subscription. The whole amount was payable on application. Applications were received
for 3,00,000 shares and the board decided to allot shares to all shareholders on pro-rata
basis. Pass necessary journal entries for the above transactions in the books of Annex Ltd.
[3]

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 ACCOUNTANCY
OR
(b) Shovan Limited took over the assets of ₹ 60,00,000 and liabilities of ₹ 10,00,000 from
Swami Limited for an agreed purchase consideration of ₹ 45,00,000. The amount was
payable by issuing 10% debentures of ₹ 100 each at 25% premium. Pass necessary journal
entries for the above transactions in the books of Shovan Limited.
[3]
20.(a) On 1 April, 2022, the capital of the firm of Ashu and Madhav is ₹ 1,50,000. The normal
st

rate of return on capital employed is 10%. Average profits of the firm are ₹ 23,500.
Calculate goodwill of the firm based on three years purchase of super profits.
[3]
(b) Rakshit and Malik are partners in a firm sharing profits and losses in the ratio of 4:1. On 1 st
April, 2021, their capitals were ₹ 1,20,000 and ₹ 80,000 respectively. On 1st December,
2021, they decided that the total capital of the firm should be ₹ 3,00,000 to be contributed
by them in the ratio of 2:1.
According to the partnership deed, interest on capital is allowed to the partners @ 6% p.a.
Calculate interest on capital to be allowed for the year ending 31st March, 2022.
[3]
21. Sandesh Ltd. has an authorised capital of ₹ 30,00,000 divided into equity shares of ₹ 10
each. The company invited applications for issuing 70,000 shares. Applications for 69,000
shares were received. All calls were made and duly received except the first and final call of
₹ 2 per share on 3,000 shares. These shares were forfeited.
(a) Present the 'Share Capital' in the Balance Sheet of the company as per Schedule III,
Part I of the Companies Act, 2013.
(b) Also prepare 'Notes to Accounts' for the same.
[4]
22. Sudhir, Deepak and Naveen were partners in a firm sharing profits and losses in the ratio of
2:2:1. On 31st March, 2022 their Balance Sheet was as under:
Balance Sheet of Sudhir, Deepak and Naveen as at 31st March, 2022
Liabilities Amount Assets Amount
₹ ₹
Creditors 50,000 Land and Building 2,10,000
General Reserve 1,00,000 Machinery 1,90,000
Loan 1,20,000 Stock 30,000
Capitals : Investments 1,70,000
Sudhir Advertisement Suspense A/c 1,20,000
1,60,000
Deepak 1,50,000 4,50,000
Naveen 1,40,000
7,20,000 7,20,000

Sudhir died on 30th June, 2022. The partnership deed provided for the following, on the
death of a partner :

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 JUNE-2023
1
(i) Goodwill of the firm was to be valued at 2 years purchase of average profits of the
2
previous four years which were ₹ 1,80,000.
(ii) Sudhir's share of profit or loss till the date of death was to be calculated on the basis of
sales. Sales for the year ended 31st March, 2022 amounted to ₹4,00,000 and that from
1st April, 2022 to 30th June, 2022 amounted ₹ 1,50,000. The profit for the year ended
31st March, 2022 was ₹ 1,00,000.
(iii) Interest on capital was to be provided @ 7% p.a.
Prepare Sudhir's capital account to be rendered to his executors.
[4]
23.(a) Pass necessary journal entries for the forfeiture and reissue of shares in the following
cases:
[6]
(i) BCG Limited forfeited 75 shares of 10 each issued at a premium of 4 per share for
non-payment of allotment money of 8 per share (including premium). The first and
final call of 4 per share was not made. The forfeited shares were reissued at 15 per
share fully paid.
(ii) Geetika Limited forfeited 1,200 shares of 50 each issued at par for non-payment of
final call of 10 per share. Out of these, 900 shares were reissued at 45 per share fully
paid-up.
OR
(b) Pushkar Limited invited applications for 30,000 shares of ₹ 100 each at 20% premium. The
amount per share was payable as under:
On application - ₹ 40 (including ₹ 10 premium)
On allotment - ₹ 30 (including ₹ 10 premium)
On first call - ₹ 30
On second and final call – Balance
[6]
Applications were received for 40,000 shares and pro-rata allotment was made to the
applicants for 35,000 shares, the remaining applications being refused.
Excess application money was adjusted towards sums due on allotment.
Yogesh, who applied for 700 shares, failed to pay the allotment money and his shares were
forfeited immediately after allotment.
First call was made thereafter and all the money due on first call was received. The second
and final call was not made.
Pass necessary journal entries for the above transactions in the books of Pushkar Limited.

24.(a) Yuv and Veer were partners in a firm sharing profits and losses in the ratio of 3:1. Their
Balance Sheet as on 31st March, 2022 was as under:

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 ACCOUNTANCY
Balance Sheet of Yuv and Veer as at 31st March, 2022
Amount Amount
Liabilities Assets
₹ ₹
Creditors 41,000 Plant and Machinery 60,000
General Reserve 80,000 Building 40,000
Outstanding Expenses 12,000 Investments 60,000
Capitals: Stock 50,000
Yuv 79,000 Debtors 38,000
Veer 48,000 1,27,000 Less : Provision for
Doubtful Debts 4,000 34,000
Cash 16,000

2,60,000 2,60,000

They decided to admit Yash in the firm on 1st April, 2022 for 1/4 share in profits on the
following terms:
(i) Yash will bring in proportionate capital and ₹ 4,000 as his share of goodwill premium
in cash.
(ii) Investments were valued at ₹ 68,000.
(iii) Plant and Machinery was to be depreciated by 10%.
Prepare Revaluation Accounts and Partners' Capital Accounts
OR
Balance Sheet of Reyansh, Aayushman and Sabhya as at 31st March, 2022
Amount Amount
Liabilities Assets
₹ ₹
Sundry Creditors 2,20,000 Cash 1,60,000
General Reserve 1,20,000 Debtors 1,80,000
Capitals : Less : Provision for
Reyansh 6,00,000 Doubtful Debts 20,000 1,60,000
Aayushman 5,00,000 Stock 2,00,000
Sabhya 3,00,000 14,00,000 Machinery 6,00,000
Building 4,00,000
Patents 1,20,000
Profit and Loss A/c 1,00,000
17,40,000 2,60,000
Reyansh retired on the above date and it was agreed that:
(i) Goodwill of the firm on Reyansh's retirement was valued at ₹1 2,00,000.
(ii) Aayushman and Sabhya will share future profits in the ratio of 2: 3.
(iii) An unrecorded creditor of ₹ 40,000 will be taken into account.
(iv) Debtors of ₹ 30,000 will be written off as bad debts.
(v) Amount payable to Reyansh was to be transferred to his loan amount.
Pass necessary journal entries for the above transactions in the books of the firm. [6]
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 JUNE-2023
25. Aadish and Shreyansh were partners in a firm sharing profits and losses in the ratio of 3: 2.
On 31st March, 2022 their Balance Sheet was as follows:
Balance Sheet of Aadish and Shreyansh as at 31st March, 2022
Amount Amount
Liabilities Assets
₹ ₹
Creditors 90,000 Cash at Bank 20,000
Mrs. Aadish’s Loan 30,000 Stock 24,000
Shreyansh‘s Loan 30,000 Investments 30,000
General Reserve 45,000 Debtors 20,000
Capitals: Less : Provision for
Aadish 1,00,000 Doubtful Debts, 2,000 18,000
Shreyansh 97,000 1,97,000 Plant Advertisement Suspense 1,00,000
account 2,00,000
3,92,000 3,92,000

The firm was dissolved on 31st March, 2022 on the following terms:
(i) Debtors realised ₹ 17,000 and plant realised 10% more than the book value.
(ii) Aadish promised to pay Mrs. Aadish's loan and took away stock at ₹ 20,000.
(iii) Shreyansh took away half of the investments at a discount of 10%. Remaining
investments realised ₹ 4,500.
(iv) Creditors were paid off at a discount of 10%.
(v) Expenses of realisation amounted to ₹ 7,000.
Prepare Realisation Account
[6]

26. Pass necessary journal entries for the following transactions relating to the issue of
debentures:
(a) Gagan Limited issued ₹ 10,00,000, 9% Debentures of ₹ 100 each at a premium of 5%,
redeemable at par after four years.

(b) KS Limited issued ₹ 10,00,000, 10% Debentures of ₹ 100 each at par, redeemable at
10% premium after four years.
(c) QR Limited issued ₹ 10,00,000, 9% Debentures of ₹ 100 each at a discount of 10%,
redeemable at a premium of 5% after five years. [6]

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 ACCOUNTANCY
PART B
OPTION-I
(Analysis of Financial Statements)
27.(i) Which of the following equations is correct :
(a) Cost of Revenue from Operations Revenue from = Operations + Gross Profit
(b) Cost of Revenue from Operations = Opening Inventory - Net Purchases + Direct
Expenses - Closing Inventory
(c) Cost of Revenue from Operations = Opening Inventory + Closing Inventory
(d) Cost of Revenue from Operations = Revenue from Operations - Gross Profit
[1]
OR
(ii) Which of the following is a tool of Analysis of Financial Statements:
(i) Cash Flow Statement (ii) Statement of Profit and Loss
(iii) Notes to Accounts (iv) Balance Sheet
Choose the correct option:
(a) (i) (b) (i) and (ii)
(c) (ii) (d) (i), (ii) and (iv)
[1]
28. From the following information, the 'Proprietor's funds' are:
Current Assets ₹ 20,00,000
Non-Current Assets ₹ 40,00,000
Long Term Borrowings ₹ 25,00,000
Proprietary Ratio 25%
(a) ₹ 10,00,000 (b) ₹ 14,00,000
(c) ₹ 24,00,000 (d) ₹ 15,00,000
[1]
29.(i)'Dividend paid' by a financial enterprise will come under which kind of activity from the
following while preparing cash flow statement:
(a) Operating Activity (b) Investing Activity
(c) Financing Activity (d) Both (b) and (c)
[1]
OR
(ii) 'Interest received on investments' will come under which type of activity from the
following, while preparing cash flow statement of a non-financial enterprise :
(a) Investing Activity (b) Financing Activity
(c) Operating Activity (d) Both (b) and (c)
[1]
30. Which of the following transactions are shown under financing activities while preparing
cash flow statement:
(i) Issue of Equity Shares (ii) Cash Received from Debtors
(iii) Redemption of Debentures (iv) Cash Paid Against Trade Payables
Choose the correct option:
(a) (i) (b) (i) and (ii) (c) (i) and (iii) (d) (i), (ii) and (iv) [1]

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 JUNE-2023
31. Classify the following items under major heads and sub-heads (if any) in the Balance Sheet
of a company as per Schedule III, Part I of the Companies Act, 2013:
(a) Licenses and Franchise
(b) Loans Repayable on Demand
(c) Accrued Income
[3]
32. It is a technique which involves regrouping of data by application of arithmetical
relationships.' Identify the technique and state its two advantages.
[3]
33.(i) Calculate Gross Profit Ratio from the following information :
Inventory Turnover Ratio : 6 times
Average Inventory : ₹ 4,00,000
Goods are sold at a profit of 25% on cost
[4]
OR
(ii) The Current Ratio of a company is 2:1. State giving reasons, which of the following
transactions would improve, reduce or not change the ratio :
(a) Purchased goods on credit ₹ 40,000
(b) Sale of furniture of ₹ 8,000 at a loss of ₹ 2,000
(c) Cash received from trade receivables ₹ 15,000
(d) Issued equity shares ₹ 6,00,000
[4]
34. Read the following hypothetical text and answer the given questions on the basis of the
same.
In 2011, two young Indian entrepreneurs, Vaishali Bhatia and Vivek Bhatia decided to start
an online auto portal. At that time, there were no major players in the market and they saw
an opportunity to fill the gap. They used a user-friendly website and mobile app which
made it easy for users to research and buy cars. It was converted into a company 'Car Easy
Ltd.' in 2018.
From the following Balance Sheet of the company as on 31st March, 2022, calculate 'Cash
Flows From Operating Activities'.
Balance Sheet of 'Car Easy Ltd' as at 31st March, 2022
Note 31.3.2022 31.3.2021
Particulars
No. ₹ ₹
I - Equity and Liabilities :
1. Shareholders’ Funds
(a) Share Capital 9,00,000 3,00,000
(b) Reserves and Surplus 1 75,000 3,60,000
2. Non-Current Liabilities
Long-term Borrowings 2 2,40,000 1,80,000
3. Current Liabilities
(a) Trade Payables 18,000 60,000
(b) Short-term Provisions 3 2,04,000 2,10,000
Total 14,37,000 11,10,000

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 ACCOUNTANCY
II - Assets :
1. Non-Current Assets
fixed Assets 4 10,08,000 5,76,000
2. Current Assets
(a) Inventories 3,54,000 3,87,000
(b) Cash and Cash Equivalents 75,000 1,47,000
Total 14,37,000 11,10,000
Notes to Accounts:
Note 31.3.2022 31.3.2021
Particulars
No. ₹ ₹
1 Reserve and Surplus 75,000 3,60,000
Surplus i.e. Balance in Statement of Profit and
Loss
75,000 3,60,000
2 Long-term Borrowings 2,40,000 1,80,000
10% Debentures
2,40,000 1,80,000
3 Short-term Provisions 2,04,000 2,10,000
Provision for Tax
2,04,000 2,10,000
4 Fixed Assets
Machinery 11,52,000 6,45,000
Accumulated Depreciation 1,44,000 69,000
Total 10,08,000 5,76,000
Additional Information:

(i) 10% Debentures were issued on 31st March, 2021.

(ii) Tax of 80,000 was paid during the year.
Additional Information:
(i) 10% Debentures were issued on 31st March, 2021.
(ii) Tax of 80,000 was paid during the year.
[6]
PART B
OPTION - II
(Computerised Accounting)
27.(i) The need of codification is for:
(a) The generation of mnemonic codes.
(b) To secure accounts, reports, etc.
(c) The encryption of data.
(d) Easy to process data, keeping proper records.
[1]

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 JUNE-2023
OR
(ii) Which of the following software packages is suitable for an organisation where the volume
of accounting transactions is very small and adaptability is very high:
(a) Specific (b) Tailored
(c) Specific and tailored both (d) Generic
[1]
28. The outcome of an arithmetic expression or function is called:
(a) Derived Value (b) Basic Value
(c) Vertical Value (d) Horizontal Value
[1]
29. When the accumulated data from various sources is processed in one shot, it is called :
(a) Real-time processing (b) Batch processing
(c) Data validation (d) Processing and Revalidation
[1]
30.(i)The name of accounting information sub-system which is linked with other sub-systems
for obtaining information about cost and expenses is :
(a) Cash and Bank sub-system (b) Expense Accounting sub-system
(c) Costing sub-system (d) Final Accounts sub-system
[1]
OR
(ii) The process of comparing input data with some unknown data is called :
(a) Data validation (b) Data entry
(c) Information data (d) Storage data
[1]
31. Which error occurs when Excel does not recognise 'text' in the formula ? State the steps to
correct it.
[3]
32. Explain the terms 'Memo Voucher', 'Post-dated Voucher' and 'User-defined Voucher'.
[3]
33. (a) What is 'data formatting'? What tools are used to format a given data? Explain.
OR
(b) List eight uses of accounting software.
[4]

34. What is meant by 'Present Value' of an investment? Explain the financial function which
helps in its calculation.
[6]

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