AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions

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Thoroughly analyzing AP Inter 2nd Year Commerce Model Papers and AP Inter 2nd Year Commerce Question Paper March 2023 helps students identify their strengths and weaknesses.

AP Inter 2nd Year Commerce Question Paper March 2023 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.
Define Banking. Explain the functions of Banking.

Question 2.
Explain the objectives and functions of SEBI.

AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions

Question 3.
Explain the redressal mechanism available to consumers under the Consumer Protection Act, of 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 entrepreneurs.

Question 5.
Explain the types of entrepreneurs.

Question 6.
What is international trade? Explain various types of international trade.

Question 7.
What is SEZ? Explain their objectives.

Question 8.
Explain the term insurance. Explain the functions of insurance.

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.
Define entrepreneurship.

Question 11.
Write any one of the characteristics of an entrepreneur.

Question 12.
Wholesaler.

Question 13.
Double Insurance.

Question 14.
National Highway.

AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions

Question 15.
NIFTY.

Question 16.
Commercial Papers.

Question 17.
What is meant by Consumer Protection?

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

Note: Answer the following question.

Question 18.
A and B share profits in the proportions of 3/5 and 2/5. Their Balance Sheet on 31-12-2021 was as follows:
AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions Q18
On that date, C was admitted into the Partnership on the following terms:
(a) That C pays Rs. 10,000 as his capital and Rs. 5,000 as goodwill for his 1/6th share in profits.
(b) That stock and fixtures be reduced by 10% and 5%. Provision for doubtful debts is created on Sundry debtors and Bills receivables.
(c) That the value of land and buildings be appreciated by 20%.
Prepare Revaluation A/c, Partners Capital Accounts, and New balance sheet of the firm.

Section – E
(1 × 10 = 10)

Note: Answer ANY ONE of the following questions.

Question 19.
Krishna of Mumbai and Gopal of Chennai are in the consignment business. Gopal sent goods to Krishna for Rs. 10,000. Gopal paid freight Rs. 500 and insurance Rs. 1,500. Krishna met sales expenses of Rs. 900, Krishna sold the entire stock for Rs. 20,000 and he is entitled to a commission of 5% on sales. Prepare necessary accounts in the books of Gopal.

Question 20.
From the following Receipts and Payments A/c of Nethajee Sports Club. Prepare Income and Expenditure A/c for the year ended on 31-03-2021.
AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions Q20
Additional Information:
(a) Subscriptions include Rs. 1,000 received for the last year.
(b) Rent includes Rs. 600 paid for the last year.

Section – F
(2 × 5 = 10)

Note: Answer ANY TWO of the following questions.

Question 21.
Sandhya sold goods for Rs. 14,000 to Rajeswari on 1st March 2021 and drew upon her a bill of exchange payable after 2 months. Rajeswari accepted the bill and handed over the same to Sandhya. Sandhya immediately discounted the bill with her bank @ 12% p.a. on the due date Rajeswari met her acceptance. Pass the necessary Journal entries in the books of Sandhya.

Question 22.
On 1st January 2019, Suma purchased Furniture for, Rs. 80,000. Depreciation is to be provided annually at 10% under the straight-line method. On 31st December 2021, Furniture was sold for Rs. 40,000. Show the Furniture account assuming that the books are closed on 31st December every year.

Question 23.
Explain the categories 6f share capital.

Question 24.
Find out the profit from the following data:
Capital at the beginning of the year Rs. 40,000
Capital at the end of the year Rs. 45,000
Drawings during the year Rs. 5,000
Capital introduced during the year Rs. 2,500.

Section – G
(5 × 2 = 10)

Note: Answer ANY FIVE of the following questions.

Question 25.
Explain the parties involved in a bill of exchange.

Question 26.
Write any two causes for depreciation.

Question 27.
Delcredere Commission.

AP Inter 2nd Year Commerce Question Paper March 2023 with Solutions

Question 28.
Revenue expenditure.

Question 29.
Preference share.

Question 30.
Partnership deed.

Question 31.
Write any two advantages of a Computerised accounting system.

Question 32.
From the following data, find the profit or loss by a trader.
Capital at the beginning of the year Rs 7,500.
Capital at the end of the year Rs. 10,000.

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