Disclaimer: The given NBSE Class 10 Bookkeeping & Accountancy 2021 question paper has been sourced from NBSE
Total marks : 80 || Time : 3 hours
i) Approximately 15 minutes is allotted to read the question paper and revise the answers.
ii) The question paper consists of 28 questions. All questions are compulsory.
iii) Internal choice has been provided in some questions.
iv) Marks allocated to every question are indicated against it.
N.B: Check that all pages of the question paper are complete as indicated on the top left side.
Choose the correct answer from the given alternatives:
1. Gross profit is ascertained from (1)
(a) trading account
(b) profit and loss account
(c) balance sheet
(d) trial balance
2. The traditional name for the income statement is (1)
(a) trial balance
(b) trading account
(c) trading and profit & loss A/c
(d) final accounts
3. The banks which have been established to assist trade, commerce and industry are known as (1)
(a) exchange banks
(b) commercial banks
(c) agricultural banks
(d) industrial banks
4. If deposits exceed the withdrawals from the bank, the cash book will show (1)
(a) plus balance
(b) minus balance
(c) overdraft balance
(d) both plus and minus balance
5. A bank reconciliation statement can be prepared with the balance of (1)
(a) cash book
(c) cheque book
(d) both cash book and passbook
6. Indian Negotiable Instruments Act, 1881 defines a bill of exchange under (1)
(a) Section 3
(b) Section 4
(c) Section 5
(d) Section 6
7. A promissory note is made by the (1)
8. The differences in the trial balance is transferred to (1)
(a) Capital A/c
(b) difference A/c
(c) profit and Loss A/c
(d) suspense A/c
9. “Depreciation may be defined as permanent and continuing diminution in the quality, quantity or the value of an asset” has been defined by (1)
(a) RN Carter
(b) W Pickles
(c) Spicer and Peglar
(d) Accounting Standard
10. Depreciation means (1)
(a) physical wear and tear
Answer the questions in about 20-30 words:
11. What is the utility of the balance sheet? (2)
12. What is a credit card? (2)
13. What is E-banking’ (2)
14. Define compensating error. (2)
15. What is meant by sliding figure error? (2)
16. Write a note on the diminishing balance method. (2)
Answer the questions in about 30-50 words:
17. Explain any three importance of a trading account (3)
18. Explain in brief the stages of final accounts. (3)
19. Write a note on: (1x12=3)
a) dishonour of cheque
b) bank charges or collection charges (3)
20. Explain the parties involved in bills of exchange. (3)
21. Explain any three causes of depreciation. (3)
22. Write and explain any three disadvantages of the diminishing balance method (3)
Answer the questions in about 70-100 words:
23. a. Mention and explain any five characteristics of the balance sheet. (5)
b. Prepare trading, profit and loss account and balance sheet as on 31st March 2018 from the trial balance of M/s John & Bros
|Particulars||Debit Balance||Credit Balance|
|Carriage and cartage||3,000|
|Salaries & wages||6,000|
|Land & building||5,000|
|Plant & machinery||15,000|
The closing stock was valued at 9,000.
24. a. Explain the various benefits of e-banking to the customers. (5)
b. Explain any five types of accounts that can be opened with the bank.
25.a. Mention and explain the steps for the creation of the bank reconciliation statement. (5)
b. Amenla had an account with the State Bank of India. According to her cash book, the balance as of December 31st, 2017 was 1,750.
i) The passbook on the same date showed that cheques of Rs 180, Rs 1,150, and Rs 125 were not presented for payment.
i) All cheques amounting to 1,220 paid into her account were not cleared by 31st December 2017
iii) The bank has allowed interest of 510
iv) Bank had charged 50 commission for the services offered.
Prepare a bank reconciliation statement.
26.a. Explain any five characteristics of bills of exchange. (5)
b. A bill of 1,000 is drawn by Hilo on Kavishe on the 5th of August 2018, payable six months after the date. The bill was accepted by the drawee on presentation and duly met on maturity. Record these transactions in the books of both parties.
27. a. Mention and explain five limitations of trial balance. (5)
b. Explain the clerical errors regarding the errors of commission.
28 a. Mention and explain any five objectives of charging depreciation. (5)
b. Longdimen Brothers purchased a machine on July 1st, 2016 at a cost of 14,000 and spent 1,000 on its installation. The firm writes off depreciation at 10% of the original cost every year. The books are closed on the 31st of December every year. Prepare a machinery account for the first four years.