Accountancy

Mid Terminal Examination-2073

Subject: Accountancy                              Full Mark: 50

Class: VIII           Time: 1.5 Hrs.              Pass Mark: 20

1.        Very short answer questions: [5]

a)     What is the full form of VAT?

b)    Who makes major decisions in an office?

c)     Who works at higher level position in an office?

d)    What is the full form of JF?

e)     What is the contra account of purchases?

2.        Short answer questions: [25]

a)     What is insurance? Explain the types of insurance.

b)    What is office assistance? Explain any five qualities of office assistance.

c)     What is office? Explain its features.

d)    Explain the rules of journalizing.

e)     What is double entry book keeping system and accounting ?

3.    Aashim Trading centre performed the following transactions.                 [20]

Date                               Transactions

4-1        Commenced business with cash of Rs. 2,00,000

4-2        Cash sales of Rs. 20,000

4-3    Dividend received Rs. 10,000 and salary paid through bank of Rs. 5,000

4-4    Cash deposited into bank Rs. 50,000

4-5    He withdrew cash from the business for his personal use Rs. 2,000

          Required :   Journal Entries

                             Ledger     a. Cash a/c   b. Bank a/c

*Best of Luck*