Jun 2 • General • 1812 Views • 1 Comment on CBSE CLASS 10 ACCOUNTS SAMPLE PAPER



1. Define the “Not-for-Profit” organization.

Ans. The organization where most of the activities are driven by Service Motive not by profit motive are called the “Not-for-Profit” organization.

2. Give example of any three  division of a Journal Book.


Ans. A Journal Book can have following Sub Divisions

a)CashBook                                                                       CBSE CLASS 10 ACCOUNTS SAMPLE PAPER
f) Bills Payable & Receivable Books

3. What are the reason for Depreciation?

Ans. When Assets is used and reached its end in physical form to is it loss to the value of assets.

When an asset is assigned an estimated or fixed life after expiring such period the Assets are considered to be finished.

Miss happening also play roles in lost of life for Assets, like there is fire in firm and furniture burnt the Assets value will be nullified.

4. Define  Receipt and Payment Account.

Ans. In nutshell a summary of Cash based transaction in a particular financial year is called Receipt and Payment Account for a “Not-for-Profit” organization.

5. Why Depreciation is Required?   

Ans. A management cannot determine the true Profit or Loss for the organization unless all the cost and expenses and income are taken into effect in respect of the Profit & Loss Account, so after applying the depiction to the Assets one can get the true picture of the Profit or Loss.

6. What do you understand by Rectification of the Errors?

Ans. Procedure to find out the errors and then rectify them in proper manner to make the accounts book accurate is called the Rectification of Errors.

7. Write comments  on Recording & classification of Accounting transactions.

Ans. Recording: In the books of Accounts only a transaction which is related to somemoney value can be recorded.

Posting: The Classification is the next step of Recording under the classification the entries from the journal are taken and posted to their respective Ledger Accounts.

8. What is the Accountancy?

Ans. Accountancy is a wide and vast knowledge sector which tells us why and how we should maintain the Books of Accounts in order to get the maximum accurate information. It tells us about how to summarize and how to communicate the financial information to its users through Final Financial Statements for their interpretation and analysis.

9. Explain Errors of Omission in Financial Accounting System.

Ans. When a financial transaction is not recorded in Book of Account at all it is referred as Errors of Omission for example a credit Sale of Rs. 15000 has not been recorded at all by the Accountant, the Trial balance will still match but the Rectification will be necessary after finding out the error, because Debit and Credit will have a less impact of Rs. 15000 for a omitted transaction.

10. State any 4 features of Receipt and Payment Account for Not-for-Organization.

Ans. 1. The nature is Real Account.

2. It starts and end with Cash and Bank balances.

3. Debit side of Account shows income and gains while Credit side shows expenses and Losses.

4. Irrelevant to current or previous Financial Year, it records all the transaction.

11. Explain the treatment of CST and VAT in Sales Book.

Ans. A seller who charges the CST for inter states sale by him, is liable to deposit the collected CST from purchased to Government Account, so he needs to keep the column separately for CST in the Sales Book, a separate account of Central Sales Taxis made in ledger and all the CST amounts are posted regularly and eventually the total of the CST amount is deposited in the Government’s account.

12. What is the meaning of Accounting Principles?

Ans. Accounting principal are the pillars of Accountancy in other words we can say the rules of the Accounting which have been adopted by the Accountant to accomplish Accounting task are called the Accounting Principles. They are normal norms and policies which are followed in order to treat the Assets, Liabilities and every aspect relating to Book Keeping or Accountancy.

13. Write detailed procedure while Depreciation is charged on Assets at the time of sale.

Ans. When Assets is being sold the depreciation would be charged for the full period i.e. full financial year from the beginning of the year till the date on which the sale is being done of the concerned asset. There may be a provision in some organization they don’t charge any depreciation at the time of sale to assets.

14. What is an  MIS or Management Information System?

Ans. A procedures under which the data is collected, processed and fetched to the users to take further initiative to accomplish the pre determined actions is called the MIS or Management Information System.


15. The capital can be known with the equation “Capital = Total Assets – Liabilities” how true is that statement?

Ans. An organization main aspect are its Capital and Assets, at the end of a specified period one needs to know the profit earned or loss occurred the organization in respect of financial values by an organization. The Capital plays the role of the Fuel to the company or an enterprise, a proprietor would like to know the capital position at the end of the year or some particular period,  the total assets whiter they are current or fixed assets would be the major figure and all the liabilities will be subtracting from Total number or Assets then the balance figure will be treated as Capital.

16. What is the different storage Devices or components for the computer?

Ans. The primary storage device is Hard Disk which is referred as HDD and earlier there a Floppy Disk usually 3.2” made of plastic contains a round media to store the data was in fashion but now the storage media is company used as Hard Disk, then A CD or DVD can also be used as Storage Device its normally used for Back up of important data. Then two removable type of devices are in fashion these modern days like Pen Drive and External Disk which are comparatively have a vast capacity of storing the data than a Pen Drive.

17. Enter the following transactions in a Simple cash Book of X-Max Enterprises


April 1 Cash In Hand                            Rs.  15150
April 27 Electricity Bill paid                  Rs.   5000
April 29 Salary Paid                             Rs.   1500
April 30 Cash drawn from Bank            Rs.   3500
April 30 Cash received from Mr Batra   Rs.   2500

Ans.                                       X-Max Enterprise
Dr.                                                                                                            Cr.

 Date Particulars L.F. Rs. Date Particulars L.F. Rs.
1 Apr To  Balance b/d


27 Apr By  Electricity Expenses A/c


30-Apr To  Bank Account


29 Apr By  Salary A/c


30- Apr To Mr Batra A/c


30 Apr By Balance c/d



20. Why comparison of Accounting Aspect cannot be done under Single Entry System?

Ans. A the Single Entry System is know as the incomplete system for the Accounting Books, if this system is incomplete it cannot give the complete information to any users of the accounts, it does keep the provision for making financial statement for example a trial balance is not made under this system, no comparison is possible for current and pervious years.

18. Explain the Accounting procedure under a Computerized System.

Ans. First of all operator needs the input documents or we can say the source document in order to make a financial transaction, we are assuming that the a software which is designed to the take care of accounting needs of the organization is already installed in the computer system in other words organization have a complete accounting system software system installed in their computer, after having a valid source of financial transaction user will need to enter as per nature of the of the transaction a computer program will show you the way to do the specific entry suppose he has to pass a payment entry he needs to just press the dedicated key or function key to pass the payment entry, it will ask you the Debit side and amount and thencredit side and then amount, here a point may be noted that the biggest advantage of the computer accounting system is that  the non arithmetical entry will not be accepted by the computer accounting system, it will not process further unless it doesn’t get the Debit and Credit amounting value to the equal weight.

For example if user is entry a total debit amount of Rs. 1500 at the debit side of a particular accounting head then he needs to put the credit with one or several accounting heads with Rs. 1500 only, otherwise it will accept the entry and will not process further.

After having entered the entry since computer application is a written programs with set of specified rules relating to principals of accounting, it automatically posts the ledger and prepares the Trial Balance, Balance Sheet, Trading and Profit & Loss Accounts automatically based on the data was processed by the users.

19. Record the following transactions in the Purchase Return Book of M/s Ashwani Comuptech

June 6   Returned 6 Mother Boards @ 2850/- to M/s Computer Enterprises wide Debit Note No. 123/6611

June 12 Returned 8 LCD monitors @ 5550/- to China Electronics wide Debit Note No. 127/1211

June 15 Returned 50 Mouse Pcs @ 150/- PP to Computer Enterprises wide Debit Note NO.130/1506

Ans.                               M/s Ashwani Computech

 Date Particulars DebitNote No. L.F. DetailsRs. Amount
6 June M/s Computer Enterprises
6 Mother Boards @ 2850/-


12 June M/s China Electronics
8 LCDs @ 5550/-


15 June M/s Computer Enterprises
50 Mouse @ 150-


30 June Purchases Return A/c



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  1. Mitali Panda says:

    The article is providing a brief outlook of the accounting concepts with a good and easy to learn definitios of the accountacncy such as journal entries, classification of journals, concept of Errors and its omissions, also with a very good definition of why single Single entry concept isn’t used for comparision in journal entries. and the best part being is that the ACCOUNTING EQUATION. One must have a go through this post it has a lot to learn things which would be helping us in future (specially for bank transaction for everyone)…..good piece of writing

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