### Class 10 Elements Of Book Keeping And Accountancy Sample Paper Solution - CBSE | 2022

1. An amount of ₹20,000 was spent on repairs of building. This expense will be categorised under ______ .

(a) Capital Expenditure
(b) Revenue Expenditure
(c) Deferred Revenue Expenditure
(d) Both Capital and Deferred Revenue Expenditure

2. Which of the following will be a Capital Expenditure for a business?

(c) Delivery Van purchased
(d) Salary to Employees

3. On 1st July, 2020 Aqua Ltd purchased Machinery of ₹4,00,000. Depreciation is to be charged @10% p.a by diminishing balance method. What amount of depreciation will be charged for the year ending March 31, 2021?

(a) ₹40,000
(b) ₹20,000
(c) ₹30,000
(d) ₹70,000

4. Bank Reconciliation Statement is prepared to reconcile _________ and ________ balances.

(a) Cash Book and Ledger Accounts
(b) Pass Book and Ledger Accounts
(c) Cash Book and Pass Book
(d) Cash Book and Vouchers

5. Which of the following is deferred Revenue Expenditure?

(a) Salary for previous year paid in current year
(c) Repayment of Loan
(d) Building purchased

6. Assertion (A) :- Capital Expenditure are recurring in nature Reason (R) :- Capital Expenditure are incurred to increase the earning capacity.

(a) Both A and R are correct and R is the correct explanation of A,
(b) Both A and R are correct but R is not the correct explanation of A.
(c) A is correct but R is incorrect.
(d) A is incorrect but R is correct.

7. In straight line method ________

(a) Depreciation is charged on remaining book value every year.
(b) Depreciation is charged only for half of the year.
(c) Depreciation is charged on cost price of asset every year.
(d) Book value of Asset will never be zero

8. Which of the following is not a Capital Receipt?

(a) Sale of old Newspaper
(b) Sale of Machinery
(c) Loan taken from Bank
(d) Capital introduced by proprietor

9. If Depreciation is not charged in a particular year, then what will be the effect on the books of Accounts?

(a) Profits will be higher
(b) Profits will be lesser
(c) Assets can’t be shown in books of the firm
(d) Accounts can’t be prepared

10. By charging depreciation

(a) Only Market value is affected Page 3 of 12
(b) Only Book Value is affected
(c) Both market value and book value is affected
(d) Neither market value nor book value is affected

11. When money is withdrawn from the bank, it is _____ in the pass book.
(a) Debited
(b) Credited
(c) Not shown

12. Depreciation causes

(a) Outflow of Cash
(b) Sale of Assets
(c) Decrease in book value of Assets
(d) Increase in market value of Assets

13. Depreciation is charged on

(a) Only Tangible Assets
(b) Only Intangible Assets
(c) Both Tangible and Intangible Assets
(d) Only Current Assets

14. “Assertion (A) :- Annual amount of depreciation under Straight line method remains the same.
Reason (R) :- Depreciation is charged on original cost of Asset every year under straight line method.

(a) Both A and R are correct and R is the correct explanation of A,
(b) Both A and R are correct but R is not the correct explanation of A.
(c) A is correct but R is incorrect.
(d) Both A and R are incorrect

15. Statement that explains the causes of difference between bank balance of the cash-book and bank statement is called

(a) Bank Statement
(b) Pass Book
(c) Expenses Statement
(d) Bank Reconciliation Statement

16. Bank Reconciliation statement is prepared in the books of:

(a) Bank
(b) Guarantor
(c) Account Holder
(d) Government

17. Which of the following statement is true?

(a) Capital Expenditure gives benefits for short period of time
(b) Revenue Expenditure gives benefits for long period of time
(c) Office Premises purchased is Capital Receipt
(d) Rent paid is Revenue Expenditure

18. Which if the following is not a factor affecting depreciation?

(a) Cost of Asset
(b) Scrap Value
(c) Useful Life of Asset
(d) Market Value of Asset

19. Statement I: - In Straight Line Method, the asset will be completely written off. Statement II: - In Written Down value Method, the asset will not be completely written off.

(a) Only Statement I is true.
(b) Only Statement II is true.
(c) Both Statements are true.
(d) Both Statements are false.

20. When Bank Reconciliation Statement is prepared with Credit balance as per Pass Book, the Balance derived will be :-

(a) Credit Balance as per Cash Book
(b) Debit Balance as per Cash Book
(c) Debit Balance as per Pass Book
(d) Either (a) or (b) is possible

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Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1.  Balance Sheet (Extract)  Liabilities Amount (Rs.) Assets Amount (Rs.) Machinery 40,000 If the value of machinery reflected in the balance sheet is overvalued by 33 1/3%, find out the value of Machinery to be shown in the new Balance Sheet:  (A) ₹ 44,000  (B) ₹48,000  (C) ₹ 32,000  (D) ₹30,000  SOLUTION (D) ₹30,000  Explanation: Machinery is overvalued Value by 33 1/3% of 40,000 Here, 33 1/3% as a fraction = \frac{33\frac{1}{3}}{100} Converting the mixed fraction to an improper fraction, we get = \frac{\frac{100}{3}}{100}  = 100/300 Simplifying this, we get = 100/300 = 1/3 = 100/300 of z = 40,000-z Because, 40,000 is overvalued Value, we will minus the real value from 40,000. = "100x"/"300" + "300z"/"300" = 40,000 = "400z"/"300" = 40,000 = 40,000 \times 300/400 = z ∴ z = 30,000 4 5