1. finance
2. bank
3. bank account

COMMERCE DIVISION
SAMPLE TEST PAPER
SESSION-2013-14
CLASS-XII (CBSE)
Date :
Time : 1 Hr. 30 Min.
Max. Marks : 100
GENERAL INSTRUCTIONS
1.
Before answering the paper, fill up the required details in the blank space provided in the
OMR - Answer Sheet.
2.
Write your Name and Roll No. in the space provided at the bottom of this booklet.
3.
Blank papers, clip boards, log tables, slide rule, calculators, mobile or any other electronic
gadgets in any forms are not allowed.
4.
This Paper contains 100 questions of 1 mark each. All questions has only one correct answer.
3.
There are 4 Sections in this paper.
Section - I (Accounts)
Section - II (English)
Section - III (Economics)
Section - IV (Business Studies)
Q.
Q.
Q.
Q.
1 - 30
31 - 60
61 - 80
81 - 100
5.
For every wrong answer there will be negative marking of 1/4 (one-fourth). Do not spend too
much time on a particular question.
6.
No rough sheets will be provided by the invigilators. All the rough work is to be done in the
blank space provided in the question paper.
7.
In case of any dispute, the answer filled in the OMR sheet available with the institute shall
be final.
Name : ____________________________________________ Roll No. : _______________________________
Commerce Head Office :
Address : J-2 Jawahar Nagar Main Road, Kota (Rajasthan)-324005
Tel. No. : +0744-3012222, 2437144, Fax : 0744-2427146 | Website : www.commerce.resonance.ac.in
E-mail : commerce@resonance.ac.in
SECTION-I
(ACCOUNTS)
1.
Which qualitative characteristics of accounting
informations is reflected when the accounting
information is free from errors :
(A) Understandability
(B) Relevance
(C) Comparability
(D) Reliability
2.
Use of common unit of measurement and common
format of reporting promotes.
(A) Understandability
(B) Relevance
(C) Comparability
(D) Reliability
3.
Which is the last step of accounting as a process
of information ?
(A) Recording the transaction
(B) Preparation of financial statement
(C) Communication of information
(D) Analysis and interpretation of information.
4.
Which of the following is not an internal user of
financial statement ?
(A) Board of Directors
(B) Managers
(C) Employees
(D) Lenders.
5.
Revenue is generally realised at the time of sale,
which principle is involved in situation :
(A) Matching
(B) Full Disclosure
(C) Revenue Recognition (D) Consistency
6.
The ir-relevent information or facts need not be
disclosed. ‘Which principle is applied herein:
(A) Consistency
(B) Matching
(C) Going Concern
(D) Materiality
7.
Which of the following is correct ?
(A) Opening Capital = Closing Capital
+ Fresh Capital + Drawings + Loss
(B) Opening Capital = Closing Capital
 Fresh Capital  Drawings  Profit
(C) Opening Capital = Closing Capital
 Fresh Capital + Drawings — Profit
(D) Opening Capital = Closing Capital
 Fresh Capital + Drawing — Loss.
8.
According to the Accrual Concept
(A) transactions and events are recorded in the
books at the time of their settlement in cash
(B) transactions and events are recorded in the
books at the time when they are entered
into.
(C) transactions and events may be recorded
either at the time of the settlement or when
they are entered into
(D) None of the above.
9.
According to which of the following concepts, in
determining the net income from business, all costs
which are applicable to the revenue of the period
should be charged against that revenue?
(A) Matching Concept
(B) Money Measurement Concept
(C) Cost Concept
(D) Dual Aspect Concept
10. Suspense Account in the trial balance will be
entered in the :
(A) Trading A/c
(B) Profit and Loss A/c.
(C) Balance Sheet.
(D) Subsidiary Books
11. Business transactions are recorded
(A) in chronological order
(B) weekly
(C) at the end of the month
(D) None of the above.
12. Depreciation is a process of
(A) valuation of asset
(B) allocation of cost.
(C) both of valuation of asset and allocation of
cost.
(D) None of these
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SAMPLE TEST PAPER_PAGE # 1
13. The Journal entry to record a profit on the sale of
fixed assets is :
If Asset Disposal Account is maintained:
Debit
Credit
(A) Asset Disposal Account Profit and Loss Account
(B) Fixed Asset Account
Profit and Loss Account
(C) Profit and Loss Account Asset Disposal Account
(D) Profit and Loss Account Fixed Asset Account
14. A Promissory Note is made by the...
(A) seller
(B) purchaser
(C) endorsee.
(D) None of these
15. Purchased goods from Gopal for Rs. 4,800 but was
recorded as Rs. 8,400 to the debit of Gopal. In the
rectifying entry, Gopal’s A/c will be credited with
(A) Rs. 13,200
(B) Rs. 3,600
(C) Rs. 4,800
(D) Rs. 1,200
16. If wages paid for construction of new building is
debited to wages account,
(A) An error of principle.
(B) A compensating error
(C) An error of commission
(D) An error of omission.
17. Which of the following is an error of commission :
(A) Cash sales not recorded in Cash Book.
(B) Purchase of machinery debited to purchases
account.
(C) Goods sold on credit to Mahesh but not
recorded in Sales Book.
(D) Wrong balancing of creditors account.
18. Sales are equal to
(A) Cost of Goods Sold + Gross Profit.
(B) Cost of Goods Sold — Gross Profit.
(C) Gross Profit — Cost of Goods Sold.
(D) Closing stock + Gross Profit
19. Income tax paid by a sole trader is shown
(A) on the debit side of the Trading Account.
(B) on the debit side of Profit & Loss Account.
(C) by way of deduction from capital in the
Balance Sheet.
(D) On the credit side of the Profit and Loss
Account.
20. Noting charges are ultimately borne by
(A) Drawer
(B) Drawee
(C) Payee
(D) None of these
21. Small firms may not maintain complete records.
The reason is that
(A) They deal mainly on credit.
(B) They do not make so much gross profit.
(C) They deal mainly in cash.
(D) They deal rarely in cash.
22. Subscriptions received in advance by a club are
shown
(A) on the credit side of the Income and
Expenditure Account.
(B) on the assets side of the Balance Sheet.
(C) on the liabilities side of the Balance Sheet.
(D) on the debit side of the Income and
Expenditure Account.
23. The Receipts and Payments Account is a
(A) nominal account.
(B) real account.
(C) personal account.
(D) None of these
24. Profit = Capital at the end + ? – fresh Capital
introduced – Capital in the beginning.
(A) Sales
(B) Drawings
(C) Net Purshases.
(D) Net sales.
25. Which accounts are normally maintained in single
entry accounting :
(A) Nominal account
(B) Real account
(C) Real, nominal and personal account
(D) A personal account and cash book
26. If capital at 1st April is Rs. 200, Capital at 31st
March is Rs. 500, Drawings made during the year
is Rs. 300 and lottery prize introduced in the
business is Rs. 100. His profit or loss during the
year will be :
(A) Rs. 500 (profit)
(B) Rs. 500 (loss)
(C) Rs. 100 (profit)
(D) Rs. 100 (loss)
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SAMPLE TEST PAPER_PAGE # 2
27. If Ram’s acceptance which was endorsed by us in
favour of Saleem is dishonoured, then the amount
will be debited in our books to
(A) Saleem.
(B) Ram.
(C) Bills Receivable a/c. (D) Biils payable a/c
28. A two months bill drawn on 23rd November, 2012
will mature for payment on
(A) 23rd Jan, 2013.
(B) 25th Jan, 2013
(C) 26th Jan, 2013.
(D) 27th Jan, 2013.
29. Which of the following errors will be rectified
through suspense account :
(A) Purchases Return Book undercast by
Rs. 5,000.
(B) Purchases Return to Garima Rs. 5,000,
not recorded.
(C) Purchases Return to Garima Rs. 5,000
recorded as Rs. 500.
(D) Purchases Return to Garima Rs. 5,000,
recorded through Sales Return B
30. Which of the following errors is an error of principle?
(A) Wages given on the installation of machinery
has been debited to Wages Account.
(B) Purchase of Rs. 4,000 has been entered in
Sales Book.
(C) Rs. 1,000 paid to Kamal has been credited
to his account.
(D) Overcasting of Sales Book.
SECTION-II
(ENGLISH)
Directions :Complete the following passage by
choosing the correct options :
It is neither the size nor the length of life which
makes man (31)_____The growth of mind and the
intellect is (32)_____in proportion to the growth of
the human body. The man may (33)_____physically the stature of a giant, yet he may remain
(34)_____a dwarf. The true worth of man
(35)_____upon his action, deed and thought. Man
is not like a tree. An oak tree (36)_____to a huge
size and lives for hundreds of years, only to
(37)_____to the ground, withered, dry an leafless
(38)_____It is not in (39)_____things that
(40)_____is sought.
31.
(A)
(C)
human
better
(B)
(D)
polite
humble
32.
(A)
(C)
roughly
ever
(B)
(D)
usually
never
33.
(A)
(C)
earn
keep
(B)
(D)
attain
grow
34.
(A)
(C)
morally
socially
(B)
(D)
spiritually
intellectually
35.
(A)
(C)
depends
revolves
(B)
(D)
lies
gathers
36.
(A)
(C)
lifts
manages
(B) grows
(D) raises
37.
(A)
(C)
decay
disappear
(B)
(D)
dwindle
fall
38.
(A)
(C)
log
pole
(B)
(D)
wood
chip
39.
(A)
(C)
big
broad
(B) small
(D) lengthy
40.
(A)
(C)
interest
curiosity
(B)
(D)
value
perfection
Direction : Read the following sentences and answer the questions that follow:
(A)Would you steal a software program out of a
retail shop ?
(B)The industry on its part has formed an
organisation to specially gather information, educate and drag the software pirates to courts.
(C)But more than the legality, there is always 0.
different way of looking at piracy and that is in
terms of morality.
(D)The Government on the other hand has initiated National Enforcement Committees.
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SAMPLE TEST PAPER_PAGE # 3
(E)As far as the issue of tackling piracy is concerned, both the industry and the Government have
already started initiating action.
41. Which of the following should be the third sentence?
(A) E
(B) A
(C) B
(D) D
42. Which of the following should be the first sentence?
(A) B
(B) C
(C) A
(D) E
43. Which of the following should be the second sentence?
(A) A
(B) B
(C) C
(D) E
44. Which of the following should be the last sentence?
(A) C
(B) B
(C) E
(D) A
45. Which of the fallowing should be the fourth sentence?
(A) D.
(B) B
(C) C
(D) A
Direction : Read each sentence to find if there is
any grammatical error in it. If there is any error .
The alphabet of that part is your answer.
(Disregard punctuation errors,if any.)
46. My cousin said
(A) / that he preferred (B) / the white shirt (C) /
than the black one (D)
Direction: Out of the given alternatives; choose
the one which can be substituted for the given
phrase
51. One who believes in God.
(A) Atheist
(C) Devote
52. One who walks in one’s sleep.
(A) Dreamer
(B)
(C) Neurotic
(D)
49. Her (A) / knowledge of (B) / English are (C) / very
limited (D).
Theist
Secularist
Somnambulist
Ventriloquist
53. One who abstains totally from alcoholic drinks.
(A) Recluse
(B) Teetotaler
(C) Sceptic
(D) Stoic
54. A place where money is coined.
(A) Mint
(B) Press
(C) Treasury
(D) Bank
55. One who loves mankind.
(A) Philanthropic
(C) Credulous
(B)
(D)
Misanthrope
Rebellion
Direction: In each of the following questions, a
word has been written in four different ways out of
which only one is correctly spelt. Find the correctly spelt word.
56. (A) Surveillance
(B) Survaillance
(C) Surveilance
(D) Survellance
57.
(A)
(C)
Commmite
Committee
(B)
(D)
Comittee
Comitee
58.
(A)
(C)
Temparament
Temprament
(B)
(D)
Tamperament
Temperament
47. Abhijeet and his friend (A)/ were walking towards
(B) / the station when (C) / they met his common
friend (D).
48. That man (A) / appears to have seen (B) / more
happier day (C) / than his brother (D).
(B)
(D)
Direction : Choose the exact meaning of the idioms/phrases.
59.
When I saw him in the morning, he looked like a
duck in a thunderstorm.
(A) entrapped
(B) distressed
(C) indomitable
(D) peaceful
50. Nobody offered to give up(A) / their seat to the
lady (B) / holding her child (C) / in her arms (D).
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SAMPLE TEST PAPER_PAGE # 4
60. He is not worth his salt if he fails at this juncture.
(A) very strange
(B) very proud of himself
(C) quite depressed
(D) quite worthless
SECTION-III
(ECONOMICS)
62. Homi J. Bhabha was the first chairman of –
(A) Finance Commission
(B) Planning Commission
(C) Election Commission
(D) Atomic Energy Commission
63. The three annual plans from 1966-69 are also
known as –
(A) Plan Break
(B) Plan Holiday
(C) All the above
(D) None of these
64. TRAI stands for –
(A) Telecommunication Regulatory Authority of
India
(B) Telecom Regulatory Authority of India
(C) Telecom Regulatory Area of India
(D) Telecom Regulatory Authority Institute
65. What are homogeneous products ?
(A) undifferentiated products
(B) differentiated products
(C) Both (A) and (B)
(D) None of the above
66. Which of these is not a method of data collection?
Questionnaires
Experiments
(B)
(D)
(A)
(C)
Interviews
Observation
Keynes
Bowley
(B)
(D)
Tippets
Spiegel
68. The graphical reprsentation of a cumulative
frequency distribution is called –
(A)
(C)
61. Which of the following is not correctly marked with
respect to the year?
(A) Reserve bank of India 1977
(B) Industries(Development and Regulation)Act
1951
(C) Bureau of Industrial and Financial
Reconstruction 1987
(D) Third five year plan 1961
(A)
(C)
67. “Statistics is both, a science and an art” is given
by :
Histrogram
Ogive
(B)
(D)
Pie chart
Historigram
69. Which of the following statements is false ?
(A)
(B)
(C)
(D)
Statistics is derived from the Latin word
‘Status’
Statistics is derived from the Italian word
‘Stato’
Statistics is derived from the French word
‘Statista’
Statistics is derived from the German word
‘Statistik’
70. A frequency polygon has ___________.
(A) two sides only
(B) more than four sides
(C) more than eight sides
(D) five sides only
71. Determine ‘X’ for the following data when its mean
is 115.86.
110
112
113
116
X
125
128
130
25
17
13
15
14
8
6
2
(A)
(C)
120
117
(B)
(D)
119
none of these
72. Poverty is state symbol in less________.
(A) Developed Countries
(B) Social Economy
(C) Capitalist Economy (D) All the above
73. The green revolution is also known as :
(A) Wheat revolution
(B) Maize revolution
(C) Rice revolution
(D) Forest revolution
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SAMPLE TEST PAPER_PAGE # 5
74. Which of the following is specially established to
meet the requiredments of credit of the farmers
and villagers —
(A) Regional Rural Bank (B) Exim bank
(C) ICICI bank
(D) SBI
75. What is the median for the following numbers ?
83, 54, 48, 60, 57
(A) 54
(B) 57
(C) 48
(D) 60
76. A weighted aggregate price index where the weight
for each item is its base period quantity is known
as the :
(A) Paasche Index
(B) Consumer Price Index
(C) Producer Price Index
(D) Laspeyres Index
77. Pie diagram is used for :
(A) Comparing different components and their
relation to the total
(B) Representing qualitative data in a circle
(C) Both (A) and (B)
(D) None of these
78. Mode of a distribution can be obtained from —
(A) Histogram
(B) Ogive
(C) Pie chart
(D) None of these
79. Agricultural Price Commission is now named as –
(A) Commission for Agricultural Costs and
Prices (CACP)
(B) Costs and Prices Commission for
Agricultural (CPCA)
(C) Agricultural Commission for Costs and
Prices (ACCP)
(D) None of the above
80. The entire upper part of a Table is known as
(A)
(C)
Caption
Box head
(B)
(D)
Stub
Body
SECTION-IV
(BUSINESS STUDIES)
81. That an enterprise must behave as a good
citizen is an example of its responsibility
towards.
(A)
(C)
Owners
Consumers
(B)
(D)
Workers
Community
82. CWC stands for ___________ .
(A)
(B)
(C)
(D)
Central Water Commission
Central Warehousing Commission
Central Warehousing Corporation
Central Water Corporation
83. A Call Centre handles.
(A)
(B)
(C)
(D)
Only in -bound voice based business
Only out -bound voice based business
Both voice based and non-voice based
business
Both customer facing and back-end business
84. The maturity period of a commercial paper
usually ranges from
(A)
(C)
20 to 40 days
120 to 365 days
(B)
(D)
60 to 90 days
90 to 364 days
85. Which one of the following modes of entry
permits greatest degree of control over overseas
operations?
(A)
(B)
(C)
(D)
Licensiong / franchising
Wholely owned subsidiary
Contract manufacturing
Joint venture
86. Which of the following WTO agreements that
deal with
(A)
(C)
IBRD
MIGA
(B)
(D)
IDA
IMF
87. The .................... is helpful in entertainment.
(A)
(C)
Fax
E-mail
(B)
(D)
Internet
None of these
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SAMPLE TEST PAPER_PAGE # 6
88. Which bank is known as ‘Apex Bank’ of India ?
(A)
(B)
(C)
(D)
State Bank of India
Reserve Bank of India
Central Bank
Bank of India
89. Which of the following is not the MNC of the
USA?
(A)
(C)
Lipton
Ford Motors
(B)
(D)
Coca-Cola
Pepsi
90. Reconstruction of sick public sector units is
taken up by
(A)
(C)
MOFA
BIFR
(B)
(D)
MoU
NRF
91. Stages in the formation of a public company are
in the following order.
(A)
Promotion, Commencement of Business,
Incorporation, Capital Subscription
(B) Incorporation, Capital Subscription,
Commencement of Business
(C) Promotion, Incorporation, Capital
Subscription, Commencement of Business
(D) Capital Subscription, Promotion,
Incorporation, Commencement of Business
92. A person gets his stock worth Rs. 50,000 insured
for Rs. 70,000. A fire occurs and the whole stock
gets damaged. The insurance company will pay
him only Rs. 50,000, the actual value of his stock
and not Rs. 70,000. Which principle of insurance
is applied in this case?
(A)
(B)
(C)
(D)
Principle of Contribution
Principle of subrogation
Principle of Indemnity
Principle of Insurable Interest
93. A person gets his house (worth Rs. 12,00,000
insured from three insurance companies i.e., A :
Rs. 2,00,000, B : Rs. 4,00,000, C : Rs. 6,00,000.
At the time of incurrence of loss, the compensation
will be paid by insurance companies in the ratio of
1 : 2 : 3. This is the case of ............. of insurance.
(A)
(B)
(C)
(D)
Principle of Proximate Cause
Principle of Mitigation of Loss
Principle of Indemnity
Principle of Contribution
94. Postal Services started in India in :
(A) 1737
(B) 1837
(C) 1975
(D) 1947
95. Co-operative Society Law was passed in :
(A) 1912
(B) 1922
(C) 1932
(D) 1944
96. FDI means
(A) Foreign Direct Investment
(B) Free Direct Investment
(C) Forestry Deposit Investment
(D) None of these
97. The surrender value of a Fire Insurance Policy is
(A) Amount of Policy
(B) 50 % of the Amount of Policy
(C) Amount of Premium
(D) Zero
98. On multiple chain store shoes is found :
(A) Uniformity in Prices
(B) Differences in Prices
(C) Higher Price
(D) None of these
99. Export process starts form :
(A) By Bill of Lading
(B)
(C) By Charter Party
(D)
By order Ident
None of these
100. Social responsibility of entrepreneur is:
(A) One-way Traffic
(B) Two-way Traffic
(C) Three-way Traffic
(D) None of these
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SAMPLE TEST PAPER_PAGE # 7
ANSWER KEY
1.
D
2.
C
3.
C
4.
D
5.
C
6.
D
7.
C
8.
B
9.
A
10.
C
11.
A
12.
B
13.
A
14.
B
15.
A
16.
A
17.
D
18.
A
19.
C
20.
B
21.
C
22.
C
23.
B
24.
B
25.
D
26.
A
27.
B
28.
B
29.
A
30.
A
31.
A
32.
D
33.
B
34.
D
35.
A
36.
B
37.
D
38.
A
39.
A
40.
D
41.
D
42.
D
43.
B
44.
D
45.
C
46.
D
47.
D
48.
C
49.
C
50.
B
51.
B
52.
B
53.
B
54.
A
55.
A
56.
A
57.
C
58.
D
59.
B
60.
D
61.
A
62.
D
63.
B
64.
B
65.
A
66.
C
67.
B
68.
C
69.
C
70.
B
71.
A
72.
A
73.
A
74.
A
75.
B
76.
D
77.
C
78.
A
79.
A
80.
C
81.
D
82.
C
83.
C
84.
D
85.
B
86.
C
87.
B
88.
B
89.
A
90.
C
91.
C
92.
C
93.
D
94.
B
95.
A
96.
A
97.
D
98.
D
99.
B
100.
B
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SAMPLE TEST PAPER_PAGE # 8