AP Inter 2nd Year Commerce Question Paper April 2022 with Solutions

Thoroughly analyzing AP Inter 2nd Year Commerce Model Papers and AP Inter 2nd Year Commerce Question Paper April 2022 helps students identify their strengths and weaknesses.

AP Inter 2nd Year Commerce Question Paper April 2022 with Solutions

Time: 3 Hours
Maximum Marks: 100

Part – I (50 Marks)
Section – A
(2 × 10 = 20)

Note: Answer any two of the following questions in not exceeding 40 lines each.

Question 1.
What is transport? What are the benefits of transport?

Question 2.
Define stock exchanges and explain their functions.

Question 3.
Describe the rights and responsibilities of a consumer as per CPA 1986.

Section – B
(4 × 5 = 20)

Note: Answer any four of the following questions in not exceeding 20 lines each:

Question 4.
Explain any five functions of an entrepreneur.

Question 5.
Explain the role of entrepreneurship in economic development.

Question 6.
What is International Trade? Write various types of International trade.

Question 7.
Write the objectives of SEZ.

Question 8.
Write the facets of electronic banking.

Question 9.
The distinction between primary and secondary markets.

Section – C
(5 × 2 = 10)

Note: Answer any five of the following questions in not exceeding 5 lines each:

Question 10.
Write any two types of entrepreneurs.

Question 11.
Explain any one characteristic of an entrepreneur.

Question 12.
Who is a Retailer?

Question 13.
Double Insurance.

Question 14.
Recurring deposit.

Question 15.
SENSEX.

Question 16.
Capital Market.

Question 17.
District Forums.

Part – II (50 Marks)
Section – D
(1 × 2 = 20)

Note: Answer the following question:

Question 18.
Kumar and Suresh are partners sharing profit and losses in the ratio of 3 : 2 respectively. Their Balance sheet as of March 31, 2015, was as under:

On that date, they admit Deepak into partnership for 1/3 share in future profit on the following terms:
1. Furniture and stock are to be depreciated by 10%.
2. Building is appreciated by Rs. 20,000
3. A 5% provision is to be created on Debtors for doubtful debts.
4. Deepak is to bring in Rs. 50,000 as his capital and Rs. 30,000 as goodwill.
Make necessary Ledger Account and Balance Sheet of the new firm.

Section – E
(1 × 10 = 10)

Note: Answer any one of the following questions.

Question 19.
Vijaya of Vijayawada consigned goods worth Rs. 20,000 to his agent Bhavani of Bangalore on consignment. Vijaya spent Rs. 1,000. on transport, and Rs. 500. on insurance. Bhavani sent Rs. 5,000 as advance. After two months Vijaya received the account sales as follows:
1. Half of the goods were sold for Rs. 24,000.
2. Selling expenses were Rs. 1,200.
3. 10% commission on sales.
Give ledger accounts in the books of Vijaya.

Question 20.
Amaravathi Town Club provided Receipts and Payments A/c for the year ended 31 March 2013. Prepare Income and Expenditure A/c.

Section – F
(2 × 5 = 10)

Note: Answer any two of the following questions.

Question 21.
Sireesha Traders purchased a secondhand machine for Rs. 72,000 on 1st January 2011 and spent Rs. 8,000, on repairs and installed the same. Depreciation is written off at 10% p.a. on the straight line method. On 30th June, 2013 the machine was sold for Rs. 50,000. Prepare machinery accounts assuming that the accounts are closed on 31st December every year.

Question 22.
Satyam sold goods to Sivam worth Rs. 9,000 on 1st June 2013 and drew a bill for 2 months for the same amount. Sivam accepted the bill and returned it to Satyam. Satyam endorsed the bill to his creditor Sundaram on 1st July 2013. The bill was honored on the due date. Pass necessary journal entries in the books of Satyam.

Question 23.
Explain the categories of share capital.

Question 24.
Mr. X keeps books in the single-entry system. Find the profit from the following particulars:
Capital on 31-03-2014 – Rs. 80,000
Capital on 01 – 04 – 2013 – Rs. 70,000
Additional capital as of – Rs, 4,000
Drawings made during the year – Rs. 3,000

Section – G
(5 × 2 = 10)

Note: Answer any five of the following questions in not exceeding 5 lines each:

Question 25.
Days of Grace.

Question 26.
Write any two causes of depreciation.

Question 27.
Del credere commission.

Question 28.
Legacy.

Question 29.
X and Y are partners sharing profit and losses in the 1:2 ratio. They have decided to admit ‘Z’ by giving him 1/4 share in future profits. Calculate the new profit-sharing ratio.

Question 30.
What is an equity share?

Question 31.
Ready to use.

Question 32.
What is meant by a single entry system?