COMMERCE EXAM PAPER - 1-YEARS

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Time : 3 Hrs Max. Marks:100
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Part-1 (50 Marks)
SECTION:A

Answer any two of the following questions not exceeding 40 lines each. 2x10=20

1. Explain inter-relationship between industry, commerce and trade?

2. Classify and describe each type of economic activities ?
3. Define business explain its characteristic features?

SECTION:B
Answer any four of the following questions not exceeding 20 line each. 4X5=20

1. What are the business objective ?

2. Define Entrepot trade with examples.
3. What is the role of profit in business ?
4.What is trade ?
5. Define industry ?
6. What are the social objective ?
SECTION:C
Answer any five of the following questions in short notes. 5X2=10

1. Transportation ?
2. Warehousing ?
3. Banking?
4. Business?
5. Human activities?
6. Profession ?
7. Employment?
8. Risk and uncertainty?

ACCOUNTS PART-II (50 MARKS)

SECTION:D
Answer the following question. 1X20=20

1.Journalize the following transactions in the books of RAM for the month of January 1993 and prepare
ledger of cash a/c & bank a/c related transaction.
RS:
Jan 2 cash sales 6000
3 sales to krishna murthy 1500
5 purchases from sitaram 1600
7 paid fire insurance 200
9 laxman with draw from bank 8900
12 Received cheque from on account vadiraj 1500
 16 Issued cheque to vasant kumar on account 2000
17 cash purchases 2000
18 cash deposited in bank 2500
20 cash paid for advertising 500
24 Amount deposited in bank from Guru raj 10000
29 Amount withdrawn from bank for personal use 5000
31 paid rent to land lord by cheque 600

SECTION:E
Answer any five of the following questions in short notes. 5x2=10

1. Classify the following under personal real and nominal accounts:

a) Stock b)Goodwill c). Loan d). Cash e). Capital f). Bank g). Drawing
h). Mohan
2.What is transaction?
3.What is Journal?
4.What is Voucher?
5.what is Debit and Credit note?
6.What is Invoice?
SECTION:F
Answer any two from the following questions. 2X10=20

1.State any 5 basic different between book keeping and accounting?

2.What is an accounting standard?
3.Explain about purchase and sales book and draw the format?
4.State advantages of subsidiary book?