2023

Copat
Series EF1GH/C SET~2

Q.P. Code 67/C/2

Roll No.

:Candidates must write the Q.P. Code on

the title page of the answer-book.

ACCOUNTANCY

fHT H5: 80
Time allowed : 3 hours Maximum Marks : 80

z/NOTE:
li)
Please check that this question paper contains 39 printed pages.
(ii)

Q.P. Code given on the right hand side of the question paper should be written on the title:
page of the answer-book bythe candidate.

Please check that this question paper contains 34 questions.

Please write down the serial number of the question in the answer-book before attempting
it.
i(v)

15 minute time has been allotted to read this question paper. The question paper will be:
distributed at 10.15 a.m. From 10.15 a.m. to. 10.30 a.m., the students will read the :
question paper only and will not write any answer on the answer-book during this period.

Page 1 P.T.O.
67/C/2
 GeneralInstructions :
Read the following instructions very carefully and strictly follow them :
() This question paper contains34 questions. AIl questionsare compulsory.
(iü) This question paper is divided into two parts Part A and Part B.
(üi) Part A is compulsory for all candidates.
(iv) Part B has two options i.e. (1) Analysis of Financial Statements, and
(2) Computerised Accounting. Candidates must attempt only one of the given
options as per the subject opted in Part B.
(v) Questions no. l to16 and 27 to30 carry l mark each.
(vi) Questions no. 17 to 20, 31 and 32 carry 3marks each.
(vi) Questions no. 21, 22 and 33 carry 4 marks each.
(viii) Questions no. 23 to 26 and 34 carry 6 marks each.
(ix) There is no overall choice. However, an internal choice has been provided in
7 questions of one mark, 2 questions of three marks, 1 question of four marks
and 2 questions of six marks.

PART A

(Accounting for Partnership Firms and Companies)

1. Assertion (A): Interest on bearer debentures is paid to a person who

produces the interest coupon attached to such debentures.
Reason (R): Bearer debentures aredebentures which can be
transferred by way of delivery and the company does not
keep any record of the debenture holders.
1
Select the correct answer from the following :
(a) Assertion (A) is correct, but Reason (R) is wrong.
(b) Both Assertion (A) and Reason (R) are correct, but Reason (R) is
not the correct explanation of Assertion (A).
Reason (R) is
(c) Both Assertion (A) and Reason (R) are correct and
the correct explanation of Assertion (A).
(d) Both Assertion (A) and Reason (R) are wrong.
P.T.O.
67/c/2 Page 3
2. (i) KC. Ltd. took over office furniture of 90,000, office equipment of
1,80,000 fromn J.C. Ltd. and its liabilities of 20,000 for a
purchase consideration ofE 3,60,000. The payment to J.C. Ltd.
was made by issue of 9% debentures of 50 each at a discount of
10%. The amount to be debited to Discount on Issue of Debentures
Account' will be : 1

(a) 36,000 (b) F 40,000

(c) 27,000 (d) Z 90,000
OR
(iü) Raja Ltd. purchased machinery for 25,00,000 from Sharma Ltd.
The payment to Sharma Ltd. was made by issue of equity shares of
7 10 each at a premium of 25%. The amount to be credited to the
Securities Premium Reserve Account' on issue of equity shares
will be :
(a) T 25,000 (b) 50,000
(c) 62,500 (d) T 5,00,000

3. C, D and E were partners in a firm sharing profits and losses in the ratio
1
of 5:3: 2. They admitted F as a new partner for share in the profits
4
which was sacrificed by C, Dand E in the ratio of 2:1:2. C's new share
in the profits will be:
2 3
(a) (b)
5 5
3 4
(c) (d)
10 20

4. X andZ were partners in a firm with capitals of 45,000 each. They

admitted Y as anew partner forrd 3
share in the profits of the firm.
Ybrought T 60,000 as his capital. Based on Ys share in the profits of the
firm and his capital contribution, the goodwill of the firm will be :
(a) 1,80,000 (b) 1,50,000
(c) 30,000 (d) 90,000
67/c/2 P.T.O.
Page 5
 5. Josh and Jeevan were partners in a firm. During the year ended
31.03.2022 Jeevan withdrew 5,000 per month starting from
30.06.2021. The partnership deed provided that interest on drawings will
be charged @12% per annum. The average number of months for which
interest on Jeevan's total drawings will be charged is :
1
(a) 6 months (b) 6months
2
1
(c) 4months (d) 5 months

6. After doing the adjustmentsregarding drawings 40,000, share of profit

# 24,000 and the additional capital introduced 32,000, the capital of
Ashok, a partner, as on 31.03.2022 was 5,00,000. His capital as on
01.04.2021 was 1

(a) * 4,84,000
(b) F 5,16,000
(c) 4,46,000
(d) 5,96,000
7. On the dissolution of a partnership firm there existed a balance of
45,000 in Sundry Debtors Account and a balance of 8,000 in
Provision for Bad Debts Account in the books of the firm. The amount by
which Realisation Account' will be debited for closing Sundry Debtors
Account will be: 1
(a) 45,000 (b) 37,000
(c) F 8,000 (d) 7 53,000

8. Sand T were partners in a firm sharing profits and losses in the ratio of
3:2. They admitted Uas a new partner in the firm. On Us admission
there existed a provision for bad and doubtful debts of 7,000. It was
decided to write off 3,000 as bad debts. The remaining debtors were
considered as good. The amount to be debited/credited to Revaluation
Account on account of the above treatment will be:
(a) Debit 3,000
(b) Credit 4,000
(c) Debit 7,000
(d) Debit 4,000
67/C/2 Page 7 P.T.O.
9. (i) Cand D were partners in a firm. E was admitted as a new partner
for 1 share. E acquired 1 rd of his share from Cand the remaining
6 3
from D. 1
The sacrificing ratio of Cand Dwas:
(a) 1:2 (b) 1:1

(c) 16:9 (d) 2:1

OR

(i) A, Band C were partners in a firm sharing profits and losses in

the ratio of 5 : 3:2. With effect from 01.04.2023, they agreed to
share profits and losses equally. Due to change in the profit
sharing ratio, B's gain or sacrifice will be:
1 1
(a) Gain (b) Sacrifice
30 30
5 4
(c) Gain (d) Sacrifice
30 30

10. (i) Band D were partners. According tothe provisions of partnership

deed, interest on B's capital for the year ended 31.03.2022 was
calculated at 4,000.
The necessary journal entry for transferring interest on B's capital
toProfit and Loss Appropriation Account will be: 1

(a) Profit and Loss Appropriation A/c Dr. 4,000

ToB's Capital Alc 4,000
(b) Profit and Loss Appropriation A/c Dr. 4,000
To Interest on B's Capital Alc 4,000
(c) Interest on B's Capital Alc Dr. 4,000
To Profit and Loss Appropriation Ale 4,000
(d) Profit and Loss Appropriation Ale Dr. T 4,000
To B's Current A/c Z 4,000

OR
67/C/2 Page 9 P.T.0.
 (iü) K and L were partners in a firm. Their partnership deed provided
that interest on partner's drawings will be charged @ 12% per
annum. Interest on L's drawings for the year ended 31.03.2022 was
calculated at 900.
The necessary journalentry for charging interest on L's drawings
will be : 1

(a) Profit and Loss Appropriation Alc Dr. 900

ToInterest on Drawings Alc F 900

(b) Interest on Drawings Alc Dr. 900

To Profit and Loss Appropriation Alc F 900

(c) L's Capital/Current Alc Dr. 900

To Interest on Drawings A/c 7 900

(d) Interest on Drawings Alc Dr. 900

To Partner's Capita/Current Alc 900

11. (1) A and B were partners in a firm. They admitted C as a new

partner for share in the profits of the firm which he acquired
3
from A. A's new share in the profit will be:
1 1
(a) (b)
4

1 1
(c) (d)
3 6

OR
R died. R's
(ii) P, Qand R were partners in a firm. On 31.03.2022,
the firm
share was taken over by P. P's new share in the profits of
will be :
1
2 (b)
(a)
3
1 3
(c) (d)
4
2

P.T.O.
67/c/2 Page 11
 12. (i) Persons who have entered into partnership with one another are
individually called as : 1

(a) Partners (b) Members

(c) Firm (d) Owners
OR
(i) Madhu and Radha were partners in a partnership firm sharing
profits and losses in the ratio of 3:2. Madhu withdrew 20,000in
each quarter during the year ended 31.03.2023. Interest on
drawings was to be charged @6% p.a. Interest on Madhu's
drawings will be: 1

(a) 3,000 (b) 2,400

(c) 1,800 (d) F 4,800

Read the following hypothetical situation and answer questions number 13 and
14 on the basis of given information.
On 1st April, 2022, Zaira Ltd. issued 5000, 8% Debentures of 100 each
at 5% premium, redeemable at a premium of 10% after 3 years.
13. The total interest due on debentures for the year ending 31st March, 2023
will be:
(a) T 40,000 (b) 25,000
(c) T 50,000 (d) 75,000

14. Loss on Issue of Debentures Account' will be debited by which of the

1
following amount ?
(a) 775,000 (b) 7 40,000

(c) 7 50,000 (d) 7 25,000

15. In which of the following cases is the business of afirm not dissolved by
1
court ?
(a) When a partner becomes insane
(b) With the consent of all the partners
(c) When a partner becomes permanently incapable of performing his
duties as a partner
adversely
(d) When a partner is guilty of misconduct which is likely to
affect the business of the firm
P.T.O.
67/C/2 Page 13
16. K.L and Mwere partners in a firm sharing profits and losses in the ratio
of 1:2:3. On 31.03.2022, Mretired. On M's retiremnent the Balance
Sheet of the firm showed a balance of 45,000 in Workmen's
Compensation Fund. Till that date no claim for workmen compensation
was received.
The necessary journal entry for the treatment of Workmen's
Compensation Fund on M's retirement will be : 1

Journal
Debit Credit
Particulars Amount Amount

(a) K'sCapital A/c Dr. 15,000

L's Capital Alc Dr. 15,000
M's Capital Alc Dr. 15,000
To Workmen's Compensation Fund Alc 45,000
(b) Workmen's Compensation Fund A/c Dr. 45,000
To K's Capital Alc 15,000
To L's Capital A/c 15,000
To M's Capital Alc 15,000
(c) Workmen's Compensation Fund A/c Dr. 45,000
To K's Capital Alc 7,500
To L's Capital Alc 15,000
To M's Capital Alc 22,500
(d) K's Capital Ale Dr. 7,500
L's Capital Ale Dr. 15,000
M'sCapital A/c Dr. 22,500
To Workmen's Compensation Fund Alc 45,000

17. (a) Nisha, Priya and Rajat were partners in a firm sharing profits in
the ratio of 2: 2:1. The firm closes its b0oks on 31st March every
year. Priya died on 1st July 2022. On Priya'sdeath, the goodwillof
the firm was valued at 3,00,000 and her share in the profits of
the firmn till the time of her death was to be calculated on the basis
of previousyear's profit which was 6,00,000.
and
Pass necessary journal entries for the treatment of goodwill 3
Priya's share of profit at the time of her death.
OR
P.T.O.
67/C/2 Page 15
 (b) Sharma and Verma were partners in a firm sharing profits and
losses in the ratio of 3: 2. Their fixed capitals were 14,00,000
and 10,00,000 respectively. The partnership deed provided for
the following :
(i) Interest on capital @ 10% per annum.
(ii) Interest on drawings @ 12% per annum.
During the year ended 31.03.2023, Sharma withdrew 2,00,000
and Verma withdrew 1,00,000. After preparing the accounts for
the year ended 31.03.2023, it was realised that interest on capital
was not allowed and interest on drawings was not charged.
Showing your working notes clearly pass necessary journal entries,
3
in the books of the firm to rectify the above error.

18. P and Q were partners in a firnm sharing profits and

losses in the ratio of
of
2:1. On 01.04.2022, they admitted Ras a new partner for l/10th share
continued to
profits with a guaranteed minimum of 50,000. P and Q
on account of
share profits as before but agreed to share any deficiency
the year
guarantee to R in the ratio of 3 :2. The net profit of the firm for
ended 31.03.2023 was 3,00,000.
and Q for the above
Pass necessary journal entries in the books of P
transactions.

Ltd. Machinery
19. (a) On 01.04.2021, Aman Ltd. purchased from Kamal and Building
5,00,000, Furniture E 3,00,000 and Land
Kamal Ltd. of
40,00,000. It also took over the sundry creditors of
8,00,000. The purchase consideration was 36,00,000. Payment
Debentures of 100 each
to KamalLtd. was made by issue of 9%
company decided to write
at a discount of 10%. On 31.03.2022, the
Account' according to the
off Discount on Issue of Debentures
provisions of Companies Act, 2013.
Pass necessaryjournal entries for the above transactions in the 3
books of Aman Ltd.

OR
P.T.O.
67/C/2 Page 17
 (b) On 01.04.2021, Bain Ltd. purchased from Cayres Ltd., Machinery
at 17,00,000 and Landand Building at 40,00,000. It also took
over its liabilities amounting to 7,00,000. The purchase
consideration of 60,00,000 was paid as follows : 5,00,000
through a cheque and the balance by issue of 9% debentures of
100each at a premium of 10%.
Pass necessary journal entries for the above transactions in the
books of Bain Ltd. 3

20. On 01.04.2022, Ravi, Kavi and Avi started a partnership firm with fixed
capitals of 6,00,000, 6,00,000 and 3,00,000 respectively. The
partnership deed provided for the following:
(i) Interest on capital @10% per annum.
(i) Interest on drawings @ 12% per annum.
(iii) An annual salary of 1,20,000 to Avi.
(iv) Profits and losses were to be shared in the ratio of their capitals.
The net profit of the firm for the year ended 31.03.2023 was
3,08,000. Interest on partners' drawings was Ravi 4,800, Kavi
4,200 and Avi 3,000.
Prepare Profit and Loss Appropriation Account of Ravi, Kavi and Avi for
the year ended 31.03.2023. 3

21. On 01.04.2022, SLtd. took over the business of T Ltd. consisting of

sundry assets of 17,00,000 and liabilities of 6,00,000 for a purchase
consideration of 10,50,000. Payment to T Ltd. was made by issue of
9% debentures of the face value of 12,00,000. On 31.03.2023, S Ltd.
decided to write off Discount on Issue of Debentures according to the
provisions of the Companies Act, 2013.
Ltd. for the above
Pass necessary journal entries in the books of S
4
transactions.
P.T.O.
67/C/2 Page 19
22. B,C and D were partners in a firm sharing profits and losses in the ratio
of 3:5:2. On 31.03.2022 their Balance Sheet was as follows:

Balance Sheet of B, C and D as at 31st March, 2022

Amount Amount
Liabilities Assets

Creditors 1,10,000| Building 2,00,000

Reserve Fund 60,000 Machinery 3,00,000

Capitals : Stock 2,10,000

B 3,00,000 Debtors 80,000
2,50,000 Bank 80,000
D 1,50,0007,00,000
8,70,000 8,70,000

Cdied on 01.10.2022. On C's death, goodwill was valued at 1,87,500.

The revaluation of assets and reassessment of liabilities resulted into a

loss of 10,000. The partnership deed provided that on the death of a

partner, goodwill will be treated without opening goodwill account. C's
share of profit till the date of his death was calculated at 70,000.

Prepare C's Capital account to be presented to his executors at the time

of his death and also C's Executor's account, assuming that half the
4
amount due to him was paid immediately on C's death.

P.T.O.
67/c/2 Page 21
23. U
and V were partners in a firm sharing profits and losses in the ratio of
3:2. On 31.03.2022 their firm was dissolved. On that date the Balance
Sheet of the firm was as follows :
Balance Sheet of U
and V as at 31st March, 2022
Amount Amount
Liabilities Assets

Current Liabilities 5,70,000 Bank 1,80,000

10,30,000 Other Current Assets 8,20,000

Long Term Loan
Fixed Assets 20,70,000
Capitals :
Profit and Loss Alc 30,000
U 7,00,000
8,00,000 15,00,000

31,00,000 31,00,000

fixed assets realised at the

Other current assets realised 8,00,000 and
Long-term loan were settled at
book value. Both Current Liabilities and
dissolution were 4,000.
10% less than the book value. Expenses on
6
Capital Accounts.
Prepare Realisation Account and Partners'

issue of debentures in the following

24. Pass necessary journalentries for the
6
cases:

100each at par, redeemable at a

(i) Issued 3000, 9% debentures of
premium of l5 per debenture.

2000, 9% debentures of100 each at 10% premium and

(ii) Issued
redeemable at a premium of 5%.
discount, redeemable at
(iii) Issued 75,00,000, 9% debentures at 10%
par.
P.T.O.
Page 23
67/C/2
25. (a) A and B were partners in a firm sharing profits and losses in the
ratio of 3:1. On 31.03.2022, their Balance Sheet was as follows :
Balance Sheet of A and B as at 31st March, 2022

Liabilities Amount Assets Amount

Outstanding Expenses 3,000 Bank 40,000

Bills Payable 20,000 Stock 60,000
Sundry Creditors 1,40,000 Bills Receivable 70,000
General Reserve 80,000 Debtors 1,00,000
Less: Provision for
Capitals: doubtful Debts 5,000 95,000
A 2,00,000 Furniture 85,000
B 3,00,000 5,00,000 Machinery 1,10,000
Land and Building 2,83,000
7,43,000 7,43,000
1
On the above date, C was admitted as a new partner for share

in the profits on the following terms :

(i) Cwill bring 2,00,000 as her capital and 1,60,000 as her
share of goodwill premium.
(ii) Stock will be appreciated by 1,500.
(iii) Debtors of 5,000 will be written off as bad debts and a
provision of 10% for bad and doubtful debts will be
maintained.

Prepare Revaluation Account and Partners' Capital Accounts. 6

OR

67/C/2 Page 25 P.T.O.

 (b) B, P andT were partners in a firm sharing profits and losses in the
ratio of 5 : 3: 2. On 31.03.2022, their Balance Sheet was as
follows :

Balance Sheet of B, P and T as at 31st March, 2022

Liabilities
Amount Amount
Assets

Creditors 1,40,000 Bank 1,44,000

General Reserve 2,00,000 Stock 66,000
Workmen's
90,000 Debtors 1,50,000
Compensation Fund
Less: Provision for
Capitals: Doubtful Debts 20,000 1,30,000
B 4,00,000 Furniture 70,000
P 2,00,000
T 1,00,000
Machinery 2,20,000
7,00,000
Land and Building 5,00,000
11,30,000 11,30,000

On the above date, Bretired from the firm on the following terms:
(i) Goodwill of the firm will be valued at 3,60,000 and B's
share will be adjusted without opening goodwill account.
(ii) Furniture will be reduced to 60,000.
(iii) A claim of 1,00,000 was admitted for workmen's
compensation.
(iv) B was paid 20,000 through a cheque and the balance was
transferred to his loan account.

Prepare Revaluation Account and Partners' Capital Accounts. 6

67/C/2 Page 27 P.T.O.

 26. (a) CCL Ltd. invited applications for issuing 75,000 equity shares of
? 10each at a premium of 3per share.
The amount was payable as follows:

On Application 2 per share

On Allotment - 6 per share (including premium)
On First Call - 3per share
On Second and Final Call Balance

Applications for 1,20,000 shares were received. Application for

45,000 shares were rejected and the excess application money was
refunded. Full allotment was made to remaining applicants. All
moneys due were received except for Harish, a shareholder holding
2000 shares, who failed to pay the first and second and final call
money.

Pass necessary journal entries for the above transactions in the

books of the company. 6

OR

(b) Pass necessary journal entries for the forfeiture and reissue of
shares in the following cases :
(i) CC Ltd. forfeited 10,000 shares of 10 each, 8 called up,
for non-payment of allotment money of 3per share and
first call of 3 per share. Out of these, 2000 shares were
reissued for 7 per share, 8 paid up.
(ii) GG Ltd. forfeited 2000 shares of 10 each fully called up,
issued at a premium of 10% on which only application
money of ? 3 per share was received. Out of these, 500
shares were re-issued at 11 per share, fully paid up. 6

P.T.O.
67/C|/2 Page 29
 PART B
OPTION -I
(Analysis of Financial Statements)

27. (i) Which of the following is not a Solvency Ratio?

(a) Interest Coverage Ratio
(b) Return on Investment
(c) Debt to Capital Employed Ratio
(d) Total Assets to Debt Ratio
OR
Efficiency Ratios ?
(ii) Which of the following are known as
(a) Liquidity Ratios
(b) Solvency Ratios
(c) Activity Ratios
(d) Profitability Ratios
'Analysis of Financial
28. (i) Which of the following is a tool of 1
Statements'?
Sheet
(a) Statement of Profit and Loss (b) Balance
(d) Both (a) and (b)
(c) Ratio Analysis
OR
Operating Profit
(ii) If the Operating Ratioof Pathway Ltd. is 30%, its 1
Ratio will be:
100%
(b) 30%
(a)
130% (d) 70%
(c)
profit to calculate net cash
29. Which of the following is added back to net 1
flow from operating activities? Finance Cost
Interest Received (b)
(a)
(d) Commission Received
(c) Rent Received

from sale of machinery' by a machinery dealer will be

30. Cash receipts
while preparing Cash
considered which type of activity from the following
Flow Statement ?
(a) Investing Activity
(b) Operating Activity
(c) Financing Activity
(d) Both Investing and Financing Activity
P.T.0.
Page 31
67/C/2
 31. These ratios are calculated to determine the ability of the business to
service its debt in the long run.' Identify and state the significance of
three such ratios. 3

32. Classify the following items under major heads and sub-heads (if any) in
the
the Balance Sheet of a company as per Schedule III, Part I of
3
Companies Act, 2013 :
(a) Computer Software
(b) Work-in-Progress
(c) Calls in Advance

are
33. (a) The Current Ratio of J.C. Ltd. is 3: 1, Its current liabilities
15,000
? 2,00,000. The current assets include closing stock of
and prepaid insurance premium of 5,000.
4
Calculate itsQuick Ratio.
OR

(b) From the following information calculate Inventory Turnover

4
Ratio :
Stock in the beginning 40,000
Stock at the end 20,000 more than in the beginning
Credit purchases 2,20,000
Revenue from operations 4,80,000

34. Read the following hypothetical text and answer the given questions on
this basis :
sweaters under
Shobha started a small enterprise selling hand-knitted
started
'Skill ndia Scheme'. As the business grew, the revenue
Shobha Ltd.' along
increasing. On 1st April 2020, she decided to form
Balance Sheet of Shobha Ltd.
with twelve other like-minded persons. The
asat 31St March, 2022, is given below.
and additional information,
From the figures given in the Balance Sheet
and Cash Flows from
calculate Cash Flows from Investing Activities' 6
Financing Activities'.
P.T.O.
Page 33
67/C/2
 Balance Sheet of SHOBHA Ltd. as at 31st March, 2022

Note 31.3.2022 31.3.2021

Particulars No.

I- Equity and Liabilities :

1. Shareholders' Funds
8,00,000 6,00,000
(a) Equity Share Capital
(b)Reserves and Surplus 1 2,00,000 50,000
2. Non-Current Liabilities
Long-term Borrowings 2 4,00,000 3,00,000

3. Current Liabilities
(a) Trade Payables 40,000 45,000

(b) Bank Overdraft 1,00,000 85,000

(c) Short-term Provisions 3 30,000 20,000
Total 15,70,000 11,00,000
II- Assets :
1. Non-Current Assets
Fixed Assets
() Tangible Assets 4 6,00,000 5,00,000
(ii) Intangible Assets 5 50,000

2. Current Assets
(a)Inventories 5,00,000 4,00,000
(b) Trade Receivables 4,00,000 90,000
(c) Cash and Cash
Equivalents 70,000 60,000
Total 15,70,000 11,00,000

P.T.O.
Page 35
67/c/2
 Notes to Accounts :
Note 31.3.2022 31.3.2021
Particulars
No.
1 Reserve and Surplus
Surplus i.e. Balance in Statement
of Profit and Loss 2,00,000 50,000
2,00,000 50,000
2
Long-term Borrowings
10% Debentures 4,00,000 3,00,000
4,00,000 3,00,000
3 Short-term Provisions
Provision for tax 30,000 20,000
30,000 20,000
4 Tangible Assets
Machinery 7,00,000 6,50,000
Less: Accumulated Depreciation (1,00,000) (1,50,000)
6,00,000 5,00,000
5 Intangible Assets
Goodwill 50,000
Additional Information :
(i) A piece of machinery costing 1,60,000 was sold at a loss of
20,000. Depreciation charged during the year amounted to
40,000.
(ii) 1,00,000, 10% debentures were issued on 31.3.2022.
PART B
OPTION-II
(Computerised Accounting)
27. (i) Entries required to make Trading account and Profit and Loss
account are known as: 1
(a) Opening entries (b) Adjustment entries
(c) Closing entries (d) (a) and (b) both
OR
(ii) A cell reference that holds either row or column constant when the
formula or function is copied to another location is known as : 1
(a) Range (b) Absolute cell reference
(c) Relative cellreference (d) Mixed cell reference
67/C/2 Page 37 P.T.O.
 28. A sequential code refers to code applied to some documents where : 1
(a) account heads are assigned to documents.
(b) special names are given to documents.
(c) documents are arranged in special sequence.
(d) numbers and letters are assigned in consecutive order.
29. Which of the following menu isused to create a ledger in Tally ? 1
(a) Gateway of Tally > Master > Accounting information > Ledger >
Alter
(b) Gateway of Tally > Master > Accounting information > Ledger >
Create
(c) Gateway of Tally> Master > Accounting information > Ledger >
Display
(d) Gateway of Tally > Create > Master > Edit > Accounting
information > Ledger
30. (i) Computer-related peripherals and their network is known as
which of the following components of Computerised Accounting
System ? 1
(a) Procedure (b) Data
(c) Hardware (d) Software
OR
(ii) Which of the following functions automatically totals a column or
row of values ? 1
(a) AVG (b) TOTAL
(c) SUM (d) ADD

31. State two disadvantages and one advantage of Computerised Accounting

System. 3

32. Explain the Account group Loans (Liabilities) from Account group of
Balance Sheet. 3

33. (a) What are the reasons if Correct #N/A Error appears on the
computer screen while working on a spreadsheet ? How can it be
corrected ? 4
OR
(b) State the steps to be taken in preparation of a chart. 4

34. Name and explain the financial function which will be used to know the
returns in today's currency value of a series of future payments assuming
6
constant payments and rate of interest.
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