Shine Senior Accountancy Olympiad prepares senior students for careers in accounting, finance, business management, and policymaking while strengthening their understanding of accounting principles and real-world applications. This competition provides students with an opportunity to explore financial systems, improve numerical proficiency, and develop critical thinking skills.
SACCO Shine Accounts Olympiad Exam Sample Question Paper
SACCO Class 11 Sample Questions
Q.1 It is system of paying advance in the beginning and reimbursing the amount spent from time to time to the petty cashier. a. Imprest System b. Financial System c. Analytical System d. Ordinary System
Q2 The things or properties which helps in smooth functioning of the business and which are owned by the business are called ___________ of the business. a. Liabilities b. Capital c. Profit d. Assets
Q.3 Income tax paid by a sole trader is shown a. on the debit side of the Trading Account. b. on the debit side of the Profit and Loss Account. c. as deduction from capital in the Balance Sheet. d. as addition to capital in the Balance Sheet.
Q.4 What is Shortcut key for selecting company? a. Alt + F1 b. F1 c. Ctrl + F1 d. Alt + Ctrl + F1
Q.5 If balance in the bank statement shows Rs. 3,000 (Dr.) and there are deposits of Rs. 800 not yet credited and unpresented chequestotallingRs. 500, the balance in the Cash Book should be a. Rs. 3,300 (Cr.) b. Rs. 2,700 (Cr.) c. Rs. 4,300 (Cr.) d. Rs. 1,700 (Dr.)
Q.6 If closing capital is less than opening capital, it shows _______. a. Loss b. Profit c. No profit no loss d. Loss, if there is no introduction of fresh capital
SACCO Class 12 Sample Questions
Q.1- The difference between called-up capital and claimed capital is called- a. Outstanding solicitation b. Advance solicitation c. Unclaimed capital d. None of these
Q.2- A high level of gross profit ratio indicates- a. high selling price, low cost b. high selling price, high cost c. low selling price, low cost d. low selling price, high cost
Q.3- If the net profit for the year is ₹ 40,000 and the increase and decrease in movable assets are ₹ 15,000 and ₹ 10,000 respectively, then the profit from operations will be- a. ₹ 55,000 b. ₹ 50,000 c. ₹ 65,000 d. ₹ 35,000
Q.4- Ajay Club’s assets at the end of the year were Rs 19,000, liability was Rs 5,000 and debit balance of income-expenditure account was Rs 1,800. The initial capital fund will be- a. ₹18,000 b. ₹15,800 c. ₹11,200 d. ₹24,800
Q.5- Which item is shown under the head ‘Fixed Assets’ in the Balance Sheet of a company? a. Plant and equipment b. Trading stock c. Small tools d. Debenture
Q.6- What purpose does the comparative financial statement not serve? a. Reporting amounts of changes in assets and liabilities b. Reporting amounts of changes in items of the profit and loss statement c. Showing the effect of business activities on assets and liabilities d. Show direction of change in assets and liabilities
