Collaborative study sessions centered around AP Inter 1st Year Commerce Model Papers and AP Inter 1st Year Commerce Question Paper March 2023 can enhance peer learning.
AP Inter 1st Year Commerce Question Paper March 2023
Time : 3 Hours
Max. Marks : 100
Part – I (50 Marks)
Section – A
Answer any TWO of the following questions in not exceeding 40 lines each.
Note: Answer ANY TWO of the following questions in not ex-ceeding 40 lines each.
1. Define Partnership. Discuss its merits and limitations.
2. Distinguish between a private company and a public com-pany.
3. What is Business Finance ? Explain its need and significance in the Business Organizations.
Section – B (4 × 5 = 20)
Note: Answer ANY FOUR of the following questions in not ex-ceeding 20 lines each.
4. Classify and describe each type of economic activities.
5. Explain the features of sole proprietor.
6. What are the sources of short term finance ?
7. Differentiate between the equity shares and preference shares.
8. Define manufacturing enterprises as per MSMEs Act, 2006.
9. What are the benefits of e-business to customers ?
Section – C (5 × 2 = 10)
Note : Answer ANY FIVE of the following questions in not ex-ceeding 5 lines each.
10. Industry
11. Home trade
12. Karta
13. Co-operative society
14. Minimum subscription
15. Promotion
16. Fixed Capital
17. Define MNC’s (Multi National Companies)
Part – II (Marks – 50)
Section – D (1 × 20 = 20)
Note : Answer the following question.
18. From the following particulars, prepare final accounts of Giri for the year ending 31-12-2021:
Adjustments:
1) Closing stock value: 3,500.
2) Outstanding wages : 800.
3) Pre-paid insurance: 100.
4) Provide depreciation on furniture : 10% and on land and buildings: 10%.
5) Interest received in advance : 500.
Section – E (1 × 10 = 10)
Note : Answer ANY ONE of the following questions.
19. Prepare three column cash book from the following :
20. Prepare Bank Reconciliation Statement of New Indian Stores as on 30 June 2021 from the following particulars :
a) Balance as per pass book Rs. 1,50,000.
b) Two cheques for Rs. 4,530 and Rs. 1,520 issued on 25th June were presented for payment at the Bank in July.
c) A cheque for Rs. 1,150 sent to the bank for collection, was not entered in the pass book till 30th June.
d) The Bank allowed Rs. 100 as interest and charged Rs. 460 as bank commission but both of them were not entered in the cash book.
Section – F (2 × 5 = 10)
Note : Answer ANY TWO of the following questions.
21. Write different types of accounts along with their debit, credit rules.
22. Prepare Swami’s account from the following :
23. Record the following Sales Book and Sales Returns Book.
24. What is meant by Suspense Account ? Why it is opened ? Explain.
Section – G (5 × 2 = 10)
Note : Answer ANY FIVE of the following questions.
25. Accounting cycle.
26. Business entity concept.
27. Journalise the following transactions :
28. Debit Note.
29. Record the opening entry from the following assets and liabilities as on Jan. 1st 2021.
30. From the following balances, prepare Trial Balance of Mridula as on 31-12-21.
31. Explain the errors of principle with two examples.
32. Bad Debts.