COMMON PRE-BOARD EXAMINATION 2022-23

Subject: ACCOUNTANCY (055)

CLASS: XII DATE: 15- 01- 2023

TIME: 3 HOURS MAX. MARKS: 80

General Instructions:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for all candidates.
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students
must attempt only one of the given options.
5. Question 1 to 16 and 27 to 30 carries 1 mark each.
6. Questions 17 to 20, 31and 32 carries 3 marks each.
7. Questions from 21 ,22 and 33 carries 4 marks each
8. Questions from 23 to 26 and 34 carries 6 marks each
9. 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. Blake and Jake are partners sharing profits in the ratio of 4 : 3. Freddie is admitted for 1/5th
share and he brings in ₹ 1,40,000 as his share of goodwill in cash of which ₹ 1,20,000 is 1
credited to Blake and remaining amount to Jake. New profit sharing ratio will be :
(A) 4 : 3 : 5 (B) 2 : 2 : 1
(C) 1 : 2 : 2 (D) 2 : 1 : 2
2. Assertion (A):- Interest on loan provided to partner is shown in Profit and Loss A/c.
Reason (R):- Interest on loan provided to partner is charge against profits and is to be 1
provided at fixed rate.
(A) (A) is correct but (R) is wrong
(B)Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
(C)Both (A) and (R) are incorrect.
(D) Both (A) and (R) are correct and (R) is the correct explanation of (A)
3. The subscribed capital of a company is ₹ 80,00,000 and the nominal value of the share is ₹
100 each. There were no calls in arrear till the final call was made. The final call made was 1
paid on 77,500 shares only. The balance in the calls in arrear amounted to ₹ 62,500. Calculate
the final call on share.
(A) ₹ 7 (B) ₹ 20
(C) ₹ 22 (D) ₹ 25
OR
While issuing ___________ type of Debentures, company doesn’t give any undertaking for
the repayment of money borrowed by issuing such debentures.
(A) Zero Coupon Rate Debentures

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 (B) Non-Convertible Debentures
(C) Secured Debentures
(D) Non-Redeemable Debentures
4. Sun, Moon and Star are partners sharing profits in the ratio of 5:3:2. With effect from 1st July
2020, they agreed to share future profits 2:3:5. They decided to record the following through 1
partners capital a/c by passing an adjustment entry. Profit & Loss A/c (Cr.) - ₹24,000
Advertisement Suspense A/c - ₹12,000 What is the impact of the above adjustments on
Moon?
(A) No effect on Moon (B) Moon debit by ₹ 3,600
(C) Moon credit by ₹ 3,600 (D) Moon debit by ₹ 12,000
OR
Susan and Marria are partners sharing profits and losses in the ratio of 2:3 with the capitals of
₹ 11,00,000 and ₹ 15,00,000 respectively. On 1st January 2022, Susan and Marria granted
loans of ₹ 20,000 and ₹ 10,000 respectively to the firm. Determine the amount of loss to be
borne by each partner for the year ended 31st March 2022 if the loss before interest for the
year amounted to ₹ 2,500.
(A) Share of Loss Susan –₹ 1,250 Marria – ₹ 1,250
(B) Share of Loss Susan –₹ 1,000 Marria – ₹ 1,500
(C) Share of Loss Susan –₹ 820 Marria – ₹ 1,230
(D) Share of Loss Susan –₹ 1,180 Marria – ₹ 1,770
5. Parthiv and Meera are partners sharing profits and losses in the ratio of 3:2. The firm
maintains fluctuating capital accounts and the balance of the same as on 31st March 2022 is ₹ 1
4,00,000 and ₹ 4,65,000 for Parthiv and Meera respectively. Drawings during the year were ₹
65,000 each. As per the partnership Deed, Interest on capital @ 10% p.a. on opening Capital
has been allowed to them. Calculate the opening capital of Parthiv given that the divisible
profits during the year 2021-22 was ₹ 2,25,000.
(A) ₹ 3,30,000 (B) ₹ 4,40,000
(C) ₹ 4,00,000 (D) ₹ 3,00,000
6. X ltd issued 20,000, 8%Debentures of ₹ 100 each at a discount of 10%. It has a balance in
Securities Premium Reserve of ₹ 1,40,000. While passing the journal entry to write off 1
Discount on Issue of Debentures, Statement of Profit & Loss will be debited with how much
amount.
(A) ₹ 90,000 (B) ₹ 60,000
(C) ₹ 70,000 (D) ₹ 80,000
OR
Tradelink ltd purchased assets of ₹ 9,90,000 from Zeal ltd. Payment was made by issuing 8%
debentures of Rs 100 at a discount of 10%. Discount on issue of debenture A/c will be debited
with—
(A) ₹ 1,10,000 (B) ₹ 90,000
(C) ₹ 99,000 (D) ₹ 10,000
7. Amount of Calls in Arrears is shown in the Balance Sheet
(A) as deduction from issued capital 1
(B) as deduction from subscribed capital
(C) as addition to subscribed capital
(D) on the assets side
8. Aaditya, Badri and Chintu were partners in a firm sharing profits and losses in the ratio of 2 :
2 : 1. The capital balances are ₹ 50,000 for Aaditya, ₹ 70,000 for Badri, ₹ 35,000 for Chintu. 1
Badri decided to retire from the firm and the balance in reserve on the date was ₹ 25,000. If

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 goodwill of the firm was valued at ₹ 30,000 and profit on revaluation was ₹7,500 then, what
amount will be payable to Badri?
(A) ₹ 70,820 (B) ₹ 76,000
(C) ₹ 75,000 (D) ₹ 95,000
OR
In a partnership firm, partner Aalim is entitled a monthly salary of ₹ 3,750. At the end of the
year, the firm earned a profit of ₹37,500 after charging Aalim’s salary. If the manager is
entitled a commission of 10% on the net profit after charging his commission, Manager’s
commission will be :
(A) ₹ 3750 (B) ₹ 8250
(C) ₹ 4125 (D) ₹ 7500
Read the following hypothetical situation, Answer Question No. 9 and 10
Raghbir and Sakash graduated from ICT Mumbai. They started a business of manufacturing
Sani- Bags that can remove the toxic contaminants of water. The partners shared profits
equally. The Partnership Deed provides that both Raghbir and Sakash will get a monthly salary
of ₹ 48000 each, Interest on Capital will be allowed @ 5 % p.a. and Interest on Drawings will
be charged @ 10% p.a. Their capitals were ₹ 750000 each and drawings during the year were
₹ 60,000 each.
The firm incurred a loss of ₹ 1,00,000 during the year ended 31st March, 2022.
9. Find out the amount of interest on drawings charged on Raghubir?
(A) ₹ 6000 (B) ₹ 4500 1
(C) ₹ 9000 (D) ₹ 3000
10. What will be the share of loss Sakash gets for the year ended 31st March, 2022 ?
(A) ₹ 47000 (B) ₹132500 1
(C) ₹103000 (D) ₹ 50000
11. Sagar, Shan & Pearl are partners sharing profits in the ratio of 6 : 4 : 1. Pearl is guaranteed a
minimum profit of ₹ 20,000. The firm incurred a loss of ₹ 2,20,000 for the year ended 31st 1
March, 2021. What will be the deficiency borne by Sagar and Shan.
(A) ₹ 10,000 each. (B) ₹ 24,000 by Sagar; ₹ 16,000 by Shan.
(C) ₹ 20,000 each. (D) ₹ 12,000 by Sagar; ₹ 8,000 by Shan.
12. 2,000 shares of ₹ 10, on which ₹ 7 has been called and ₹ 5 has been paid, are forfeited. Out of
these, 1,500 shares are reissued for ₹9 as fully paid. What is the amount to be transferred to 1
the Capital Reserve Account?
(A) ₹ 6,000 (B) ₹ 7,500
(C) ₹ 10,000 (D) ₹ 8,500
13. If vendors are issued fully paid shares of ₹ 1,25,000 in consideration of net assets of ₹
1,50,000, the balance of ₹ 25,000 will be credited to : 1
(A) Statement of Profit & Loss (B) Capital Reserve Account
(C) Security Premium Reserve Account (D) Goodwill Account
14. Amanda and Miranda are partners sharing profits in the ratio 5:3. They admitted Isabella for
1/5th profits, for which she paid ₹ 60,000 against capital and ₹ 30,000 against goodwill. Find 1
the capital balance for each partner taking Isabella’s capital as base capital.
(A) ₹ 1,50,000; ₹ 60,000 and ₹ 60,000
(B) ₹ 1,50,000; ₹ 60,000 and ₹ 90,000
(C) ₹ 1,50,000; ₹ 90,000 and ₹ 60,000
(D) ₹ 1,50,000; ₹ 90,000 and ₹ 90,000

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15. Alex and Bala are partners. Bala draws a fixed amount at the end of every month. Interest on
drawings is charged @15% p.a. At the end of the year interest on Bala’s drawings amounted 1
to ₹ 8,250. Drawings of Bala were :
(A) ₹ 12,000 p.m (B) ₹ 10,000 p.m.
(C) ₹ 9,000 p.m. (D) ₹ 8,000 p.m.
OR
Bipasa is a partner in a firm. She withdrew ₹ 6,000 at the end of each quarter during the year
ended 31st March, 2019. Interest on her drawings @ 10% p.a. will be :
(A) ₹ 900 (B) ₹ 600
(C) ₹ 1,500 (D) ₹ 1,200
16. On dissolution of a firm, debtors were ₹ 17,000. Of these ₹ 500 became bad and the rest
realised 60%. Which account will be debited and by how much amount? 1
(A) Realisation Account by ₹ 16,500 (B) Profit & Loss Account by ₹ 500
(C) Cash Account by ₹ 9,900 (D) Debtors Account by ₹ 7,100
17. Daisy, Angel and Pinky are partners in a firm sharing profits and losses in the ratio of 5:3:2.
Their books are closed on March 31st every year. Daisy died on September 30th , 2022. The 3
total goodwill of the firm was valued at ₹ 60,000. Her share of profit up to the date of death is
calculated on the basis of sales till date of death. Sales for the year ended March 31, 2022 was
₹ 2,00,000 and profit for the same year was 10% on sales. Sales shows a growth trend of 20%
and the percentage of profit earned is reduced by 1%.
Pass necessary Journal Entries related to goodwill and share of profit. Show the workings
clearly.
18. A and B were partners in 3:2. On 1st April 2020, their capital balances were ₹ 3,00,000 and ₹
5,00,000 respectively. 3
Following were the terms of the partnership deed:
1) Interest on capital @ 10% p.a.
2) Interest on drawing @ 5% on their annual drawings.
3) Salary to A @ ₹ 2,500 per month
4) Commission to B @ 5% on net profit remaining after interest on capital and after charging
his commission.
5) 10% of the distributable profit should be transferred to general reserve.
Annual drawings of the partners being ₹ 60,000 each. Net profit earned by the firm at the end
of the year 31st March 2021 amounting to ₹ 2,90,000.
Prepare a profit and loss appropriation account.
OR
Rajan, Mathew and Nisha shared profits in the ratio of 3 : 2 : 1. The profits for the last three
year were ₹ 70,000; ₹ 42,000 and ₹ 53,000 respectively. These profits were by mistake
shared equally for all the given. Pass an adjustment journal entry to correct the mistake.
19. Pass necessary Journal entries for the issue of debentures in the following cases:
(a) 20000; 12% Debentures of ₹ 100 each issued at a premium of 5% redeemable at par. 3
(b) 35000; 12% Debentures of ₹ 100 each issued at a premium of 5% redeemable at ₹ 110
OR
Madhuban Ltd. took over the assets of ₹ 14,00,000 and liabilities of ₹4,00,000 from
Bheeshm Ltd. for a purchase consideration of ₹919000. ₹ 17,000 were paid by accepting a
draft in favour of Bheeshm Ltd. payable after three months and the balance was paid by issue
of equity shares of ₹ 10 each at a premium of 10% in favour of Bheeshm Ltd.
Pass necessary journal entries for the above transactions in the books of Sandesh Ltd.

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20. Calculate Goodwill of the firm on the basis of:
a. Capitalisation of average profit 3
b. 2 years purchase of super profit
Information:
i) Total Assets ₹ 15,00,000 and External Liabilities amounting to ₹ 3,00,000.
ii) Normal rate of return on capital employed is 8%.
iii) Profit or losses for the last 3 years:
2020- ₹ 2,10,000
2019- ₹ 1,90,000
2018- ₹ (40,000) Loss
21. Spa Paragon Ltd. was formed on 1st April, 2015 with an authorised capital of ₹ 2,00,000 ,
divided into 2,000 Equity Shares of ₹ 100 each. 1,000 shares were issued as fully paid to the 4
vendors of the building for payment of the purchase consideration. The remaining 1,000
shares were offered or public subscription at a premium of ₹ 5 per share payable as: on
application ₹ 10 per share, on allotment
₹ 25 per share (including premium), on first call ₹ 40 per share, on final call ₹ 30 per share.
Applications were received for 900 shares which were duly allotted and the allotment money
was received in full . At the time of the first call, a shareholder who held 100 shares failed to
pay the first call money and his shares were forfeited. These shares were reissued @ ₹ 60 per
share , ₹ 70 per share paid-up.
Final call has not been made.
Show how Share Capital would appear in the Balance Sheet of the company.
22. Madhav, Madhusudan and Mukund were partners in Jaganath Associates. They decided to
dissolve the firm on 31st March 2022. Pass necessary journal entries for the following 4
transactions after various assets (other than cash) and third-party liabilities have been
transferred to realization account:
(i) Old machine fully written off was sold for ₹ 42,000 while a payment of ₹ 6,000 is made to
bank for a bill discounted being dishonored.
(ii) Madhusudan accepted an unrecorded asset of ₹ 80,000 at ₹ 75,000 and the balance
through cheque, against the payment of his loan to the firm of ₹ 1,00,000.
(iii) Stock of book value of ₹ 30,000 was taken by Madhav, Madhusudan and Mukund in their
profit sharing ratio.
(iv) The firm had paid realization expenses amounting to ₹ 5,000 on behalf of Mukund.
23. Cloudrevel Ltd. company with registered capital of ₹ 5,00,000 in shares of ₹ 10 each issued
20,000 of such shares payable ₹ 2 on application, ₹ 4 on allotment, ₹ 2 on first call ₹ 2 on 6
final call. All the money payable on allotment was duly received but on the first call being
made, one shareholder paid the entire balance on his holding of 300 shares and five
shareholders with a total holding of 1,000 shares failed to pay their dues on the first call.
These shares were forfeited for non-payment of first call money. Later, final call was made
and all the money due was received. The forfeited shares were reissued @ ₹ 6 per share as
fully paid-up.
Record the above in the company's Journal.
OR
Record the journal entries for forfeiture and reissue of shares in the following cases:
(i) Basak Ltd. forfeited 20 shares of ₹ 10 each, ₹ 7 called-up on which the shareholder had
paid application and allotment money of ₹ 5 per share. Out of these, 15 shares were reissued
to Naresh as ₹ 7 per share paid-up for ₹ 8 per share.
(ii) Prathima Ltd. forfeited 90 shares of ₹ 10 each, ₹ 8 called-up issued at a premium of ₹ 2

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 per share to Rahul for non-payment of allotment money of ₹ 5 per share (including
premium). Out of these, 80 shares were reissued to Sanjay as ₹ 8 called-up for ₹ 10 per
share.
24. ‘A’ and ‘B’ are partners in a firm sharing profits in the ratio of 3:2. On C’s admission the
Balance Sheet of the firm was as follows: 6

Liabilities ₹ Assets ₹

Investment fluctuation fund 4,000 Cash at bank 1,47,000

Sundry Creditors 66,000 Plant & Machinery 70,000
Reserves 10,000 Land Building 98,000
Capital Investment(market value 21,000
A - 1,50,000 19,000)
B - 1,41,000 2,91,000 Debtors 42,000
Less: Provision 7,000
35,000

371000
371000
On the above date, C was admitted into partnership on the following terms:
(a) C was to pay ₹ 56,000 as capital and ₹ 14,000 as goodwill for 1/6th share in profits.
(b) Land and building were to be increased to ₹ 1, 20,000 and Plant and Machinery
decreased by 20 %. All debtors were good. Creditors included ₹ 9,800 no longer payable.
Pass journal entries to record the above transactions.
OR
The Balance Sheet of A, B and C who were sharing profits and losses in the ratio of 1/2,
1/3 and 1/6 respectively was as follows as on 1st April, 2019.

Liabilities ₹ Assets ₹

Reserve fund 9,000 Cash 4,100

Sundry Creditors 12,600 Investments 10,000
Provident fund 3,000 Debtors 29,000
Capital Stock 25,000
A 40,000 Patent 5,000
B 36,500 Plant & Machinery 48,000
C 20,000
121100 121100
C retired from business on 1st April, 2019 and his share in the firm was to be ascertained
on the revaluation of assets as follows.
a) The goodwill of the firm was valued at ₹ 27,000.
b) Depreciation to be provided @10 % on machinery.
c) Patents were to be reduced by 20%.
d) Liability on account of provident fund was admitted at ₹ 2,400.
e) C took over investments at ₹ 15,800.
Prepare Revaluation A/c and Partners capital A/c.

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25. The Balance sheet of Saumith, Rowan and Kempe who were sharing profits in the ratio of
4:2:4 as at 31st March, 2020 was as follows: 6
Balance sheet
Liabilities ₹ Assets ₹

Bill Payables 35,000 Cash 26,000

Loan 22,000 Stock 79,000
General Reserve 10,000 Investments 85,000
Capital A/cs: Land and building 97,000
Saumith 80,000 Saumith’ s Loan 20,000
Rowan 60,000
Kempe 1,00,00 2,40,000
3,07,000 3,07,000

Saumith died on 31st July, 2020. The Partnership Deed provided for the following on the
death of a partner:
(i) Goodwill of the firm be valued at two years' purchase of average profits for the last three
years.
(ii) Saumith’ s share of profit or loss till the date of his death was to be calculated on the basis
of sales. Sales for the year ended 31st March, 2020 amounted to ₹ 4,50,000 and that from 1st
April to 31st July, 2020 ₹ 2,70,000. The profit for the year ended 31st March, 2020 was
calculated as ₹ 1,25,000.
(iii) Interest on capital was to be provided @ 5% p.a.
(iv) The average profits of the last three years were ₹ 55,000.
(v) An immediate payment of ₹ 39333 is paid immediately to Saumith’ s executor and balance
on 31st March 2021 along with interest of 7.5%.

Prepare Saumith’ s Capital Account and Saumith’ s executor’s a/c until the full amount is paid
off.
26. Crafty Apparel Ltd. dealing in readymade garments, is planning to expand its business
operations in order to cater to the international market. For this purpose the company needs 6
additional ₹ 52,50,000 for replacing machines with modern machinery of higher production
capacity. It involves committing the finance on a long term basis. These decisions are very
crucial for any business since they affect its earning capacity in the long run. The company
wishes to raise the required funds by issuing debentures.
Crafty Apparel Ltd. is a zero-debt company. To avail the benefits of financial leverage, the
finance manager proposed to include debt in the capital structure. After deliberations, on
April1,2022, the board of directors had decided to issue 6% Debentures of ₹ 100 each to the
public at a premium of 5%, redeemable after 5 years at ₹ 110 per share.

You are required to answer the following questions:

(i) Calculate the number of debentures to be issued to raise additional funds.
(ii) Pass Journal entry for the allotment of debentures.
(iii)Pass Journal entry to write off loss on issue of debentures.
(iv)Calculate the amount of annual fixed obligation associated with debentures.
v) Prepare Loss on Issue of Debentures Account.

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 Part B :- Analysis of Financial Statements
(Option – I)
27. Interest accrued on Investments appear in a Company’s Balance Sheet under the Sub-head
…………………. 1
(A) Non-Current Investments (B) Current Investments
(C) Other Current Assets (D) Other Non-Current Assets
OR
Assuming that the current ratio is 2 : 1, Cash paid against Bills Payable would:
(A) increase current ratio (B) Decrease Current ratio
(C) have no effect on Current ratio (D) decrease gross profit ratio
28. Credit revenue from operations ₹ 75,000. Trade Receivables Turnover Ratio 5; Calculate
Closing Debtors, if closing debtors are two times in comparison to Opening Debtors. 1
(A) ₹40,000 (B) ₹20,000
(C) ₹80,000 (D) ₹10,000
29. If the amount of goodwill is ₹ 62,000 at the beginning of a year and
₹ 70,000 at the end of that year then while preparing cash flow statement 1
its effect on cash flow will be :
(A) Cash used (Payment) in Investing Activities ₹8,000
(B) Cash received from operating activities ₹8,000
(C) Cash used (Payment) from Investing Activities ₹70,000
(D) Cash used (Payment) from Financial Activities ₹8,000
OR
Parey Ltd. has balance in Provision for Tax Account of ₹ 2,00,000 and ₹ 1,50,000 as on 31st
March, 2021 and 2022 respectively. It made a provision for tax during the year of ₹ 1,30,000.
The amount of tax paid during the year was _________________.
(A) ₹ 1,00,000 (B) ₹ 1,80,000
(C) ₹ 80,000 (D) ₹ 1,50,000
30. Balance Sheet extract of Tamm Trade Ltd
1
Particulars 31/3/2022 31/3/2021

Machinery (At Cost) 10,00,000 9,50,000

Accumulated Depreciation 1,50,000 1,10,000

Patents 2,00,000 3,00,000

Additional Information:
Patents written off were ₹ 50,000 while a part of patents were sold at a profit of ₹ 40,000.

From the above information, find out the price at which the Patent is sold?
(A) ₹40,000 (B) ₹90000
(C) ₹100000 (D) ₹50000
31. Under which major heads and sub-heads will the following items be presented in the Balance
Sheet of the company as per Schedule III of the Companies Act, 2013? 3
(i) Bank Overdraft (ii) Subsidy Reserve
(iii) Capital Redemption Reserve (iv) Mining Rights
(v) Debit balance in the Statement of Profit and Loss (vi) Patents

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32. State the objectives of
a. Current ratio 3
b. Debt Equity ratio
c. Trade receivables turnover ratio.
33. Determine Return on Investment and Net Assets Turnover ratio from the following
information:- 4
Profits after Tax were ₹ 6,00,000; Tax rate was 40%; 15% Debentures were of ₹20,00,000;
10% Bank Loan was ₹ 20,00,000; 12% Preference Share Capital ₹ 30,00,000; Equity Share
Capital ₹ 40,00,000 ; Reserves and Surplus were ₹ 10,00,000; Sales ₹ 3,75,00,000 and Sales
Return ₹ 15,00,000.
OR
Debt to Capital Employed ratio is 0.3:1. State whether the following transactions, will
improve, decline or will have no change on the Debt to Capital Employed Ratio. Also give
reasons for the same.
(i) Sale of Equipments costing ₹ 10,00,000 for ₹ 9,00,000.
(ii) Purchased Goods on Credit for ₹ 1,00,000 for a credit of 15 months, assuming operating
cycle is of 18 months.
(iii) Conversion of Debentures into Equity Shares of ₹ 2,00,000.
(iv) Tax Refund of ₹ 50,000 during the year.
34. Prepare a cash flow statement from the following balance sheet:
6
Particulars Note 31st March 31st March
No. 2020 (₹) 2019 (₹)

I. EQUITY AND LIABILITIES

1. Shareholders’ Funds
(a) Share Capital 6,00,000 5,00,000
(b) Reserve and Surplus 4,00,000 2,00,000
2. Current Liabilities
Trade payables 2,80,000 1,80,000

Total 12,80,000 8,80,000

II. ASSETS
1. Non Current Assets:
(a) Fixed Assets 5,00,000 3,00,000
(i) Plant and machinery
2. Current assets:
a) Inventories 1,00,000 1,50,000
b)Trade receivables 6,00,000 4,00,000
c)Cash and cash equivalents 80,000 30,000

Total 12,80,000 8,80,000

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 Notes to Accounts:

Particulars 31-03-2020 31-03-2019

(₹) (₹)

1. Reserve and Surplus:

Surplus (Balance in statement of Profit and Loss) 4,00,000 2,00,000

Additional information:
i) An old machinery having a book value of ₹ 50,000 was sold for ₹ 60,000.
ii) Depreciation provided on machinery during the year was ₹ 30,000.

Part B :- Computerised Accounting

(Option – II)
27. The syntax of PMT Function is ___________
(a) PMT (rate, pv, nper, [fv], [type]) (b) PMT (rate, nper, pv, [fv], [type]) 1
(c) PMT (rate, pv, nper, [type], [fv]) (d) PMT (rate, nper, pv, [type], [fv])
OR
In Excel, the chart tools provide three different options _________, _________ and
__________ for formatting.
(a) Layout, Format, DataMaker (b) Design, Layout, Format
(c) Format, Layout, Label (d) Design, DataMaker, Layout
28. Which formulae would result in TRUE if C4 is less than 10 and D4 is less than 100?
(a) =AND(C4>10, D4>10) (b) =AND(C4>10, C4<100) 1
(c) =AND(C4>10, D4<10). (d) =AND (C4<10, D4,100)
29. Which function results can be displayed in Auto Calculate?
(a) SUM and AVERAGE (b) MAX and LOOK 1
(c) LABEL and AVERAGE (d) MIN and BLANK
OR
When navigating in a workbook, which command is used to move to the beginning of the
current row?
(a) [Ctrl]+[Home] (b) [Page Up]
(c) [Home] (d) [Ctrl]+[Backspace]
30. What category of functions is used in this formula: =PMT (C10/12, C8, C9,1)
(a) Logical (b) Financial 1
(c) Payment (d) Statistical
31. State any three types of Accounting Vouchers used for entry in Tally software 3

32. State any three requirements which should be considered before making an investing
decision to choose between ‘Desktop database’ or ‘Server database’. 3
33. State the features of Computerized Accounting system.
OR 4
Explain the use of ‘Conditional Formatting’.
34. Describe two basic methods of charging depreciation. Differentiate between both of them. 6

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