SimonMash.com | Kerala Plus One & Plus Two Study Notes, Question Papers, Answer Keys, Resources

📘 CHAPTER 5: BANK RECONCILIATION STATEMENT (All previous years' questions – with answers) 🔹 Multiple Choice Questions (1 Mark each) 1. Bank Reconciliation statement is prepared by a) Bank   b) Depositor   c) Creditor   d) Debtor (2018 Mar – 1 Mark) Answer: b) Depositor (account holder). 2. Find the odd one. (incomplete – omitted) Answer: (Insufficient data) 3. Overdraft means _________ balance of Cash book. a) Debit   b) Credit   c) Both (a) and (b)   d) None of these (2021 Mar – 1 Mark) Answer: b) Credit (overdraft as per cash book is credit balance). 4. The reason for the difference in bank balance as per cash book and pass book is revealed by a) Trial Balance   b) Balance Sheet   c) Bank Reconciliation Statement   d) Fund Flow Statement (2021 Imp – 1 Mark) ...

📘 CHAPTER 4: RECORDING OF TRANSACTIONS - II (Special Journals & Cash Book) 🔹 Multiple Choice Questions (1 Mark each) 1. Ramesh, a dealer of Television, sold old furniture to Rafeeque for Rs. 3,000 on credit. Identify the day book to record this transaction. a) Purchase day book   b) Journal proper   c) Sales day book   d) Cash book (2018 Mar – 1 Mark) Answer: b) Journal proper (sale of old furniture is not goods, so not sales book). 2. Computer purchased from Mr. X on credit is recorded in the ... a) Purchase book   b) Journal proper   c) Cash book   d) Sales book (2018 Imp – 1 Mark) Answer: b) Journal proper (purchase of asset on credit, not goods for resale). 3. Which one of the following is not a contra transaction in Two column cash book? a) Cash deposited in to bank   b) Opened a new account with bank ...

📘 CHAPTER 3: RECORDING OF TRANSACTIONS - I (All previous years' questions – with answers) 🔹 Multiple Choice Questions (1 Mark each) 1. A furniture merchant used 2 chairs for his office use, which was credited in a) Purchases account   b) Furniture account   c) Office furniture account   d) Drawings account (2019 Imp – 1 Mark) Answer: d) Drawings account (goods taken for personal/office use by proprietor). 2. The process of recording transactions in journal is called as a) Posting   b) Balancing   c) Journalizing   d) Totaling (2022 Mar – 1 Mark) Answer: c) Journalizing . 3. The book in which all accounts are maintained is known as a) Journal   b) Ledger   c) Cash book   d) Sales book (2022 Imp – 1 Mark) Answer: b) Ledger . 4. _______ is a collection of all the acc...

📘 CHAPTER 2: THEORY BASE OF ACCOUNTING (All previous years' questions – with answers) 🔹 Multiple Choice Questions (1 Mark each) 1. State the accounting concept, if a business charges depreciation under written down value method and it follows the same method in the subsequent 5 years. (2018 Imp – 1 Mark) Answer: Consistency concept . 2. As per business entity concept owner of the business is: a) supplier   b) creditor   c) debtor   d) borrower (2018 Imp – 1 Mark) Answer: b) creditor (owner is considered a creditor for capital). 3. While preparing final accounts outstanding wages is added to wages account. Identify the accounting principle related with this statement. (2019 Mar – 1 Mark) Answer: Matching principle (expenses of the period are matched with revenues). 4. Which accounting concept specifies the pra...

📘 CHAPTER 1: INTRODUCTION TO ACCOUNTING (All previous years' questions – with answers) 🔹 Multiple Choice Questions (1 Mark each) 1. Note books purchased by a stationery shop comes under a) Assets    b) Income    c) Purchases    d) Liabilities (2018 Mar – 1 Mark) Answer: c) Purchases (for a stationery dealer, notebooks are stock‑in‑trade, recorded as purchases). 2. Which one of the following events is NOT a business transaction? a) Furniture purchased for cash. b) Goods are ordered for next month. c) 10% of debtors are treated as bad d) Salary outstanding to the employee. (2018 Imp – 1 Mark) Answer: b) Goods are ordered for next month (an order is not a transaction; no exchange has occurred). 3. A person to whom the business owes money is called a) Debtor   b) Creditor   c) Manager   d) Partner ...