SOUTH POINT HIGH SCHOOL

SESSION: 2021-2022
CLASS : XI
SUBJECT: ACCOUNTANCY
ASSIGNMENT 1
TOTAL MARKS: 20
1. ABC Ltd. spent Rs. 6,00,000 for advertisement in the year 2020-2021, the
benefit of which is expected to accrue at the rate Rs. 1,20,000 each year.
Identify and define the type of expenditure incurred in the above case. (2)

2. From the following information identify the income of Raman Grocery Store for
the month of May, 2021. (2)
Particulars Amt.
Rs.
Money received by selling grocery 50,000
items
Cost of grocery items sold 40,000
Cost of packing materials used for 1,000
selling
Payment made to the helper in the 4,000
shop
Electricity bill for the month paid 600

3. Identify and explain the internal liability of a business. (2)

4. Out of the following activities of Ashok, which are not to be recorded in the
books of accounts of the business and why? (2)
i. Paid Rs. 5,000 to the Kolkata Municipal Corporation for renewal of
trade license.
ii. Paid Rs. 15,000 to the State Transport Department as road tax of his
daughter’s car from the personal bank account.
iii. Attended a meeting with the State Labour Officer to solve the dispute
with the labourers in the factory.

5. ‘Government and its Authorities do not have a direct access to day-to-day

accounting records of the different business organisations in the country but
they are one of the important users of accounting information’. Justify the
statement with any 2 points. (2)

6. Differentiate between non- current and current liabilities. Give examples. (2)

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 7. Why it is important to analyse and interpret the financial data of a business
and communicate the same to the management? (2)

8. Classify and define the valuable economic resources that are generally owned
by a business with suitable examples. (3)

9. Differentiate the primary stage of accounting from the secondary stage on the
basis of scope, nature of job and special skills required to do the job. (3)

NOTE:
➢ This Assignment may be a part of Term 1 assessment.
➢ Submit neat work.
➢ Send the answers of each Assignment as a PDF file or Word Document only.
➢ Blurred images or low light pictures will not be corrected.
➢ Adoption of unfair means will be dealt with firmly. Photos of textbook pages or
study material from other sources must not be submitted.
❖ All submissions should be through ASSIGNMENT of MS Teams only.
❖ Do not use the Chat or Files or Posts or Sharepoint for submission of
Assignments. Links to answer scripts or screenshots of answer scripts must not be
sent.
❖ Pupils must click on the TURN IN icon in order to complete the Submission
process.
❖ Note – Submission MUST be done within the DUE DATE mentioned.
❖ Date of Assignment : 14/062021
❖Due Date : 23/06/2021

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