Accountancy
Syllabus
Accounts of Incomplete Records, Applications of Computers in Accounting, Bank Reconciliation statement, Bills of Exchange, Computerised Accounting System, Depreciation, Provisions and Reserves, Financial Statements – 1, Financial Statements – 2, Introduction to Accounting, Recording of Transactions – 2. Trial Balance and Rectification of Errors.
Marking scheme
| Section |
Number of Questions |
| Accountancy |
45 |
| Achiever’s Section |
5 |
- The Olympiad exam will have a total of 50 questions as per the table above.
- 1 Mark shall be given for every correct answer.
- There shall be no Negative marking.
- Students shall be given 60 minutes to complete the test.
- Percentile Ranks shall be given to all students.
- Toppers shall be decided from the top percentile ranks on the basis of raw scores and time taken by the student to complete the exam.
Sample Questions
Q.1 It is system of paying advance in the beginning and reimbursing the amount spent from time to time to the petty cashier.
- a. Imprest System
- b. Financial System
- c. Analytical System
- d. Ordinary System
Q2 The things or properties which helps in smooth functioning of the business and which are owned by the business are called ___________ of the business.
- a. Liabilities
- b. Capital
- c. Profit
- d. Assets
Q.3 Income tax paid by a sole trader is shown
- a. on the debit side of the Trading Account.
- b. on the debit side of the Profit and Loss Account.
- c. as deduction from capital in the Balance Sheet.
- d. as addition to capital in the Balance Sheet.
Q.4 What is Shortcut key for selecting company?
- a. Alt + F1
- b. F1
- c. Ctrl + F1
- d. Alt + Ctrl + F1
Q.5 If balance in the bank statement shows Rs. 3,000 (Dr.) and there are deposits of Rs. 800 not yet credited and unpresented chequestotallingRs. 500, the balance in the Cash Book should be
- a. Rs. 3,300 (Cr.)
- b. Rs. 2,700 (Cr.)
- c. Rs. 4,300 (Cr.)
- d. Rs. 1,700 (Dr.)
Q.6 If closing capital is less than opening capital, it shows _______.
- a. Loss
- b. Profit
- c. No profit no loss
- d. Loss, if there is no introduction of fresh capital
Accountancy
Syllabus
Accounting for Not for Profit Organisation, Accounting for Partnership: Basic Concepts, Accounting for Share Capital, Accounting Ratios, Analysis of Financial Statements, Cash Flow Statement, Dissolution of a Partnership Firm, Financial Statements of a Company, Issue and Redemption of Debentures, Reconstitution of Partnership Firm: Admission of a Partner, Reconstitution of Partnership Firm: Retirement / Death of a Partner.
Marking scheme
| Section |
Number of Questions |
| Accountancy |
45 |
| Achiever’s Section |
5 |
- The Olympiad exam will have a total of 50 questions as per the table above.
- 1 Mark shall be given for every correct answer.
- There shall be no Negative marking.
- Students shall be given 60 minutes to complete the test.
- Percentile Ranks shall be given to all students.
- Toppers shall be decided from the top percentile ranks on the basis of raw scores and time taken by the student to complete the exam.
Sample Questions
Q1 The difference between called-up capital and claimed capital is called-
- a. Outstanding solicitation
- b. Advance solicitation
- c. Unclaimed capital
- d. None of these
Q2 If the net profit for the year is ₹ 40,000 and the increase and decrease in movable assets are ₹ 15,000 and ₹ 10,000 respectively, then the profit from operations will be-
- a. ₹ 55,000
- b. ₹ 50,000
- c. ₹ 65,000
- d. ₹ 35,000
Q.3 What purpose does the comparative financial statement not serve?
- a. Reporting amounts of changes in assets and liabilities
- b. Reporting amounts of changes in items of the profit and loss statement
- c. Showing the effect of business activities on assets and liabilities
- d. Show direction of change in assets and liabilities
Q.4 A high level of gross profit ratio indicates-
- a. high selling price, low cost
- b. high selling price, high cost
- c. low selling price, low cost
- d. low selling price, high cost
Q.5 Ajay Club's assets at the end of the year were Rs 19,000, liability was Rs 5,000 and debit balance of income-expenditure account was Rs 1,800. The initial capital fund will be-
- a. ₹18,000
- b. ₹15,800
- c. ₹11,200
- d. ₹24,800
Q.6 Which item is shown under the head 'Fixed Assets' in the Balance Sheet of a company?
- a. Plant and equipment
- b. Trading stock
- c. Small tools
- d. Debenture
