Section –A: Answer any Eight questions, each question carries ONE mark. 08×01=08 1. Not-For-Profit Organisations are formed for a. Profit b. Service c. Profit & Service d. None of these
2. The agreement between partners must be in writing. (state T/F) 3. State any one features of Partnership. 4. Expand NPSR. 5. New ratio – Old ratio = ________ 6. Who is an ‘Executor’? 7. A company is an _________ Person.
8. Shares can be forfeited for: [a] non-payment of call money [b] failure to attend meeting [c] failure to repay the loan to the bank. [d] the pledging of shares as a security
9. Give an example for non-current asset. 10. State any one type of reserve.
Section –B: Answer any FIVE questions, each question carries TWO marks. 05×02=10 11. Define partnership. 12. Name any two contents of Partnership Deed. 13. State any two circumstances under which a Partnership Firm is dissolved. 14. Why is Realisation Account prepared? 15. State any two features of a company. 16. What do you mean by Over subscription? 17. Give the meaning of financial statements. 18. Write any two objectives of financial statements.
Section –E (Practical Oriented Questions): Answer any TWO questions, each question carries FIVE marks. 02×05=10 1. How do you treat the followings in the absence of Partnership Deed? a) Profit Sharing Ratio b) Interest on Capital c) Interest on Drawing d) Interest on Advances from Partners e) Partner Salary. 2. Write two Partners’ Capital Accounts under Fluctuating Capital System with 5 imaginary figures. 3. Write the pro-forma of a Balance Sheet of a Company with main heads only.
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