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Dharwad Di, ‘ad Dist. P. U. Education Employees Association, Dharwad, , , , , , Sealy Ve, ‘ B.U.C. 1 YEAR MID ~ TERM EXAMINATION- 2019, Marks $100, ate = 21-10-2019 ACCOUNTANCY (30) Time : 10-00 To 1-15,, Instructions } 1) All sub questions of Section ~A should be answered cont, pire’ continuously at, 2) Provide working Notes wherever necessary, , §}) 18 Mintues of Extra Time nave been al, read the questions ce, 4), Flaures inthe right hand margin indicat fl marks, , , , , , SECTION -'A', 1 Answer any Eight questions! Each question carries one mark Bxi=8, 1) Accounting begins with the identification of transaction and ends with, the preparation of statements, , 2) Current Assets are asscts held ona long term basis (True/False), 3) Expand ICAI, , 4) Accounting Equation is based on., , a] cost concept b] Seperate entity concept, , c] Duel aspect concept d) Accrual concept, Transaction with multiple debits and multiple credits are called, Find correct statement., , a] Credit increase in assets b] Credit increase in expenses, c] Debit increase in income d] Credit increase in capital, The amount paid to the petty cashier in the beginning of a period is known, as amount., , Cash purcahase are entered in Purchase Book (True/False), column of Trial Balance, , transactions., , Linbilitine ara alwaye shown on the, ‘if triat balancé agrees; it implies that a] There is no error in the books., b]_ There may be two sided errors in the book, c]_ There may be one sided errors in the books, d] There may be two sided and one sided errors in the books, SECTION -'B', , ll Answer any Five questions, each questioncarryies two marks :, , 41) State any two internal users of accounting information, , 42) What is Trade discount ?, , 43) Write any two Accounting standards., , 44) What is double entry system ?, , 15) Give the meaning of Accounting voucher., , 16) State any two features of a ledger., , 47) What is over draft ?, , 48) Write the meaning of Suspense account, SECTION -'C', , ns. Each question carries six marks, dit rules of Asset, Capital and Expenses Account, s, Capital, Expensens / Losses and, evr, b] Bad debit A/c, d]_ Interest Receivable A/c., f]_ Rent Received in advance., h]_ Bills payable Ale., j] Drawing a/c,, 1]. Bank ovder draft. (PTO), , 5X2=10, , , , Ill Answer any Four questior 4x6=24, Write Debit and Cre, Classify the following into Asset, Liabilities, Revenus / Gains., a] Furniture Ale., c] Ols Rent Alc., Interest on Investment A/c., g] Stock Alc., i] Purchase A/c., Te #1 Seaal charges Ale