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Short Answer Type Question:

Q.1 State the different elements of a computer system.

ANSWER: A computer system is mainly composed of the following six elements.

1. Hardware- It includes all the physical components of a computer such as, keyboard, mouse, monitor, processor, etc. These can be touched and a user inputs commands through them.

2. Software- It is referred to a set of the programs that enables a computer to perform its tasks or commands given by the user. There are following six types of software.

1. Operating System
2. Utility Programs
3. Application Software
4. Language Processors
5. System Software
6. Connectivity Software

3. People- It constitutes the most important part of a computer system. It basically refers to the individuals or the users who interact with the computer through the use of hardware and software. The following are the people who are involved in a computer system.

1. System Analysts
2. Operators
3. Programmers

4. Procedures- A series of operations that are executed in a certain manner in order to achieve a desired set of results is known as ‘Procedures’. There are mainly following three types of procedures.

1. Hardware-oriented Procedures
2. Software-oriented Procedures
3. Internal Procedures

5. Data- The facts that are gathered and entered into a computer system is known as ‘Data’. It may comprise of numbers, text, graphics, etc.

6. Connectivity- This refers to the manner, in which a computer system is connected to the other electronic devices through telephone lines, microwave transmission, satellite link, etc., is known as ‘Connectivity’.

Q.2 List the distinctive advantages of a computer system over a manual system.

ANSWER: The following are some of the distinctive advantages of a computer system over a manual system.

1. High speed
2. Accuracy
3. Reliability
4. Versatility
5. Storage

Q.3 Draw block diagram showing the main components of a computer. 

ANSWER:

Q.4 Give three examples of a Transaction Processing System.

ANSWER: Transaction Processing System (TPS) refers to a computerised system that records, processes, validates and stores routine transactions that occur in various functional areas of a business on daily basis. Some of the examples of Transaction Processing System are enlisted as:

1. Automatic Teller Machine (ATMs)- These are those machines that handle the bank transactions through the use of specialised computer programs.

2. Payroll Applications- These are the applications that help to execute payroll programs using terminal and online processing. These are commonly used for preparing payroll or salary of the employees.

3. Order Processing- With the help of TPS applications, orders are collected from clients either manually or through mails and telephonic calls. Thereafter, these orders are processed to initiate invoicing, account receivables and inventory control processing. These are now-a-days widely used in almost every spheres of business, such as online purchasing of tickets, online booking, etc.

Q.5 State the relationship between Information and Decision. 

ANSWER: An organisation consists of various interdependent decision making units at every level of management and department. All these separate departments take decisions for their respective fields to achieve the desired common organisational objectives. The organisation as a whole needs to set its targets, draft plans and formulate various policies. These activities are based on the information (in form of data) regarding the past experiences and expected future conditions. It is on the basis of this information that an organisation allocates its resources and attempts to accomplish its determined targets. Thus, it can be said that on one hand, information facilitates the decision making process while on the other hand, decisions took in the past acts as a pool of information in the future.

Q.6 What is Accounting Information System?

ANSWER: An Accounting Information System (AIS) is a system that identifies, collects, processes, summarises, generates and presents information about a business organisation to a wide variety of users. It provides relevant information by processing voluminous accounting data, which is beyond the human capabilities. It provides a glimpse of various organisational activities and maintains a detailed financial record. It acts as a common pool of information from which different departments such as, production department, sales and marketing department, HR department, etc. can fetch useful and relevant information. The information thus provided, helps the users to take their decisions rationally and accordingly formulate their plans and policies. Thus, it can be said that an efficient AIS enhances the effectiveness and efficacy of an organisation as a whole.

The below mentioned points highlight the important characteristics of AIS.

1. It helps in handling the huge volume of accounting and financial transactions of an organisation.

2. It helps in drafting future plans and accordingly setting the future objectives.

3. It acts as a common pool for providing information to different departments besides accounts and finance departments.

4. It helps in maintaining the accounting information as per the guidelines laid down by the Law.

5. It helps in meeting the informational needs by generating reports for both external accounting users (investors, creditors, etc.) as well as for the internal accounting users (management, shareholders, etc.).

Q.7 State the various essential features of an accounting report.

ANSWER: The following are the various features of an accounting report.

a. Relevance

b. Accuracy

c. Timeliness

d. Conciseness

e. Completeness

Q.8 Name three components of a Transaction Processing System.

ANSWER: The following are three main components of a Transaction Processing System (TPS).

1. Input- A computerised accounting system accepts the complete transaction data as input through the process of data collection, data editing, data validation and data manipulation.

2. Storage- The system stores the inputted data in computer storage media such as hard disk.

3. Output- The stored data, through the process of report generation and query support can be retrieved and processed as and when required for generating an accounting report as output.

Q.9 Give example of the relationship between a Human Resource Information System and MIS.

ANSWER: Management Information System (MIS) is a planned system of collecting, processing, storing and disseminating the data in the form of information to perform the task of decision making and management of an organisation.

Human Resource Information System (HRIS) maintains the records of the employees and prepares salaries and wages payable to them.

Relationship between MIS and HRIS

HRIS provides MIS with the information such as, the qualifications, skills, experiences and past performances of an individual employee. The MIS in turn uses this information to take appropriate decisions. This helps in placing the right person with right qualities at right job positions. This also helps in making decisions regarding promotions and increments of the employees.

Long Answer Type Question:

‘Q.1 An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives. In the light of this statement, explain the relationship between information and decisions. Also explain the role of Transaction Processing System in facilitating the decision-making process in business organisations.
ANSWER: In organisation consists of various interdependent decision making units at every level of management and department. All these
separate departments take decisions for their respective fields to achieve the desired common organisational objectives. The
organisation as a whole needs to set its targets, draft plans and formulate various policies. These activities are based on the
information (in form of data) regarding the past experiences and expected future conditions. It is on the basis of this information that
an organisation allocates its resources and attempts to accomplish its determined targets. Thus, it can be said that on one hand,
information facilitates the decision making process while on the other hand, decisions took in the past acts as a pool of information
in the future
In this aspect, information forms the most crucial part of today’s business environment. In this context, Transaction Processing
System (TPS) has emerged as crucial component of the business operations. Transaction Processing System (TPS) refers to a
computerised system that records, processes, validates and stores routine transactions that occur in various functional areas of a
business on daily basis. This system facilitates the decision making in a business organisation through the following processes.

1. Data Collection- The TPS collects all the required data to complete one or more transactions. The data can be collected either
   manually or through other devices such as scanners and point of sale equipments.
2. Data Editing- The system checks the data for its accuracy, correctness and completeness.
3. Data Validation- It refers to a process, where TPS verifies the data for its correctness and rectifies the errors, if detected.
4. Data Manipulation- TPS performs the process of calculation, then processes and analyses the inputted data on a pre-set design.
5. Data Storage- It places or stores the data in one or more database.
6. Output Generation- TPS helps in creating and generating reports and also presents the reports generated in a pre-designed
   format either as hardcopy or softcopy.
7. Query Support- TPS provides a mechanism enabling its users to raise a query upon the stored data and extract the required
   information in required format as and when the need arises.

Q.2 Explain, using examples, the relationship between the organisational MIS and the other functional information system in
ANSWER: an organisation. Describe how AIS receives and provides information to other functional MIS.
Answer :
MIS is a planned system of collecting, processing, storing and disseminating the data in the form of information to perform the task
of decision making and management of an organisation. An organisation basically operates in an environment, which is surrounded
by its suppliers and customers. The informational needs of the organisation emerge from the business processes stratified into its
various functional areas. Thus, in this sense, MIS has functional relationship with other functional management information system
namely Manufacturing Information System, Human Resource Information System, Accounting Information System and Marketing
Information System. MIS receives information from these other functional information systems and uses the received information to
take appropriate decisions.
An Accounting Information System (AIS) is a system that identifies, collects, processes, summarises, generates and presents
information about a business organisation to a wide variety of users. It is an important component of MIS. It receives and provides
information to the various sub-systems of the MIS.
Relationship between AIS, Manufacturing Information System and Human Resource Information System
The Human Resource Department sends a list of workers to the Manufacturing Department. The Manufacturing Department on the
basis of this information prepares a report on the performance of each worker and deductions to be made from the wages, if any.
Thereafter, this report is send to both Accounts Department as well as to Human Resource Department. After this, the Human
Resource Department sends report to the Accounts Department to pay the wages. The Accounts Department with the help of these
reports calculates the amount payable and statutory dues and subsequently, makes the final payments to the workers. The report of
the final payments is send to the HR Department and the Manufacturing Department by the Accounts Department.
Relationship between AIS and Manufacturing Information System- Business processes in the Manufacturing Department
include the following activities.
a) Preparation of Plans and Schedules
b) Issue of Material Requisition Form and Job Cards
c) Issue of Stock and Inventory
d) Issue of Raw Material Procurement Orders
e) Handling Supplier Invoices
f) Payments to Suppliers
The AIS would accordingly include the process of
a) Purchasing Orders
b) Payments to Suppliers
c) Preparing Inventory Status Reports
d) Preparing Reports of Accounts Payable
Relationship between AIS and Marketing Information System- Business processes in the Marketing and Sales Department
involve the following activities.
a) Inquiry Process
b) Creation of Contacts
c) Entry of Orders
d) Dispatching Goods
e) Generation of Bills to Customers
The AIS would accordingly include the following activities.
a) Processing of Sales Orders
b) Authorisation of Credit
c) Keeping Custody of the Goods
d) Inventory Status
e) Shipping Details

Q.3 An accounting report is essential report which must be able to fulfil certain basic criteria’. Explain? List the various types of accounting reports.
ANSWER: When the collected data is processed and manipulated in a useful sense that can be understood by the users without any ambiguity,
then it becomes information. When this relevant information is further summarised to meet a particular aim, it is called a report. The
content and the design of the report depend upon the level of management to which it is to be submitted. The various decisions are
to be made on the basis of this report. Irrespective of the content and design, every accounting report must fulfill the following
criteria.
1) Relevance
2) Timeliness
3) Accuracy
4) Completeness
5) Summarisation
The various types of reports used in MIS can be broadly categorised as follows.

1. Summary Reports- These are the reports that summarise all the activities of an organisation. Example, Profit and Loss Account.
2. Demand Reports- These are the reports that are prepared on the request and need of the management.
   Example, Bad-Debts report.
3. Customer/Supplier Reports- These are the reports that are prepared as per the specifications of the management showing
   various aspects of the suppliers/customers.
   Example, Report of Top 10 customers.
4. Exception Reports- These are the reports that are prepared in accordance with some specific conditions or exceptions.
   Example, Inventory Status Report.
5. Responsibility Reports- These reports are prepared by the managers who are responsible for their respective departments.
   Example, Purchase Manager submits a report regarding different aspects of purchase.

Q.4 Describe the various elements of a computer system and explain the distinctive features of a computer system and manual system.
ANSWER: A computer system is ideally composed of the following six elements.

1. Hardware- It includes all the physical components of a computer such as, keyboard, mouse, monitor, processor, etc. These can
   be touched and a user inputs commands through them.
2. Software- It is referred to a set of the programs that enables a computer to perform its tasks or commands given by the user.
   There are following six types of software.
   a. Operating System- It is an integrated set of specialised programs that are meant to manage and control the resources of a
   computer. They make the computer user-interactive, i.e. user-friendly. It means that operating system forms an interactive link
   between the user and the computer hardware.
   b. Utility Programs- Utility Programs refer to the set of pre-written computer programs that are designed to perform certain
   supporting operations. Most of the utility software are highly specialised and are specially designed to perform a single task or a
   small range of tasks.
   c. Application Software- These are user-oriented programs that are designed and developed for performing certain specified
   tasks.
   d. Language Processors- These are the software that interpret or translate a program language into a machine language.
   e. System Software- These are the software that controls the internal functions of the system such as reading data from the input
   devices.
   f. Connectivity Software- These are the software that creates and controls the connection between a computer and a server with
   the purpose of sharing the data.
3. People- It constitutes the most important part of a computer system. It basically refers to the individuals or the users who interact
   with the computer through the use of hardware and software. The following are the people who are involved in a computer system.
   a. System Analyst- They are the people who design the data processing system.
   b. Operators- They are the people who write programs to implement the data processing system.
   c. Programmers- They are the people who participate in operating the computers.
4. Procedures- A series of operations that are executed in a certain manner in order to achieve a desired set of results is known as
   ‘Procedures’. There are mainly following three types of procedures.
   a. Hardware Oriented Procedures- Hardware Oriented Procedures provide details about various components of a computer and
   their uses.
   b. Software Oriented Procedures – Software Oriented Procedures provide detailed set of instructions required for using the
   software of a computer system.
   c. Internal Procedures- These procedures help in sequencing the operation or working of each sub-set of overall computer system.
5. Data- It refers to the facts that are gathered and entered into a computer system. It may comprise of numbers, text, graphics, etc.
6. Connectivity- This refers to the manner, in which a computer system is connected to the other electronic devices through
   telephone lines, microwave transmission, satellite link, etc., is known as ‘Connectivity’.
   The mentioned below are some distinctive features of a computer system and a manual system.
7. Accuracy- The computations and operations performed by a computer are highly accurate and correct. If any error is detected it
   may be due to input of the wrong data or wrong command by the user.
   As against this, in manual system the results generated or produced by the human beings are not very accurate due to
   carelessness, boredom and fatigue.
8. Speed- Computer systems require far less time than the manual systems in performing a task. Modern computers can perform
   100 million calculations per second.
9. Reliability- It may be beyond the human capabilities to work continuously for long hours. Often people get tired, lack
   concentration and may feel mental stress while working out huge volume of data that involves tedious calculations. Computer
   systems overcome these limitations very easily. A computer can easily perform variety of tasks with great precision and accuracy,
   thereby making the results highly reliable.
   As against this, the reliability of the manual system is little doubtful in case of voluminous data.
10. Versatility- Computers are designed to perform a variety of task and has wide application in various areas such as, business,
    industry, etc. As against this, in manual systems human beings can perform only a few specialised tasks and thus are lesser
    versatile.
11. Storage- Computers have a huge storage capacity and can store huge volume of data in a very small physical space. For
    example a typical main frame computer can store bullions of characters and thousands of graphic images. As against this, the
    capabilities of manual system are no where close to this.

In This Post we are  providing Chapter-3 Plant Kingdom NCERT MCQ for Class 11 Biology which will be beneficial for students. These solutions are updated according to 2021-22 syllabus. These MCQS  can be really helpful in the preparation of Board exams and will provide you with a brief knowledge of the chapter.

NCERT MCQ ON PLANT KINGDOM

Question 1 : In Chlorophyceae, sexual reproduction occurs by

• a) isogamy, anisogamy and oogamy
• b) oogamy only
• c) anisogamy and oogamy
• d) isogamy and anisogamy

Answer : isogamy, anisogamy and oogamy

Question 2 : A water fern which is used as a green manure in rice fields is

• a) Azolla
• b) Mucor
• c) Salvinia
• d) Aspergillus

Answer : Azolla

Question 3 : The largest flower found is known as

• a) Rafflesia
• b) Musa
• c) Cauliflower
• d) Tecoma

Answer : Rafflesia

Question 4 : In fern, spores are formed in

• a) sporangium
• b) archegonium
• c) oogonium
• d) stomium

Answer : sporangium

Question 5 :  Laminaria (kelp) and Fucus (rock weed) are the examples of

• a) brown algae
• b) green algae
• c) golden brown algae
• d) red algae

Answer : brown algae

Question 6 :  People recovering from long illness are often advised to include the alga Spirulina in their diet because it

• a) is rich in proteins
• b) has antibiotic properties
• c) restores the intestinal microflora
• d) makes the food easy to digest

Answer : is rich in proteins

Question 7 : Which of the following cell organelle remains enveloped by a single unit membrane?

• a) Lysosomes
• b) Chloroplast
• c) Mitochondria
• d) Nucleus

Answer : Lysosomes

Question 8 : Algae have cell wall made up of

• a) cellulose, galactans and mannans
• b) hemicellulose, pectins and proteins
• c) pectins, cellulose and proteins
• d) cellulose, hemicellulose and pectins

Answer : cellulose, galactans and mannans

Question 9 :  Which plays an important role in the dispersal of spores in Funaria?

• a) Peristome and annulus
• b) Sporogonium
• c) Capsule
• d) Operculum

Answer : Peristome and annulus

Question 10 : Which one of the following is a correct statement ?

• a) Origin of seed habit can be traced in pteridophytes
• b) Antheridiophores and archegoniophores are present in pteridophytes
• c) In gymnosperms female gametophyte is free-living
• d) None of these

Answer : Origin of seed habit can be traced in pteridophytes

Question 11 : What is the similarity between gymnosperms and angiosperms ?

• a) Both have leaves, stem and roots
• b) Origin of ovule and seed is similar in both
• c) Endosperm is formed before fertilization in both
• d) Phloem of both have companian cells

Answer : Both have leaves, stem and roots

Question 12 : In Chlorophyceae, sexual reproduction occurs by

• a) isogamy, anisogamy and oogamy
• b) oogamy only
• c) anisogamy and oogamy
• d) isogamy and anisogamy

Answer : isogamy, anisogamy and oogamy

Question 13 : In gymnosperms, the ovule is naked because

• a) ovary wall is absent
• b) perianth is absent
• c) integuments are absent
• d) nucellus is absent

Answer : ovary wall is absent

Question 14 : How many meiotic division would be required to produce 101 female gametophytes in an angiosperm?

• a) 101
• b) 127
• c) 26
• d) None of these

Answer : 101

Question 15 : Which one of the following is the major difference between mosses and ferns ?

• a) Sporophytes of ferns live much longer as compared to the sporophytes of mosses.
• b) Vascular bundles of ferns show xylem vessels while those of mosses lack it
• c) Mosses are facultative aerobes while ferns are obligate aerobes.
• d) Ferns lack alternation of generation while mosses show the same.

Answer : Sporophytes of ferns live much longer as compared to the sporophytes of mosses.

Short Answer type Question:

Q.1 State the meaning of incomplete records?
Answer : Accounts that are not recorded as per the double entry system are known as incomplete records. According to Kohler (Dictionary
for Accountants), single entry system is defined as, ” A system of book-keeping in which as a rule, only records of cash and of
personal accounts are maintained; it is always incomplete double entry, varying with circumstances.”
Many small-sized business firms maintain incomplete records of their business transactions. They do not maintain proper books of
accounts and mainly prepare books like, Cash Book, personal accounts (of debtors and creditors) and Balance Sheet at the end of
the year. They maintain books as per their needs. This system is also known as defective double entry system. The preparation of
financial statements is neither as easier nor as effective, as it is under double entry system. Consequently, accurate profit or loss
is not possible to ascertain.

Q.2 What are the possible reasons for keeping incomplete records?
Answer : The possible reasons for keeping incomplete records are:

1. Simple method: Proprietors, who do not have the proper knowledge of accounting principles, find it much convenient and easier
   to maintain their business records under this system.
2. Less time consuming: Maintaining books according to the single entry system is less time consuming, as only few books are to
   be maintained. Further, the books are not as comprehensive as they are under double entry system.
3. Less expensive: It is an economical mode of maintaining records, as there is no need to appoint specialised accountant.
4. Flexible: Owner may record transactions as per his/her own needs. It can be easily adjusted or changed whenever needed.

Q.3 Distinguish between statement of affairs and balance sheet.

Answer : Difference between Statement of Affairs and Balance Sheet
Basis of Difference Statement of Affairs Balance Sheet
Objective It is prepared to determine the
amount of capital at a particular
date.
It is prepared to ascertain the true
financial position.
Reliability It is based on estimates; hence, it It is based on sophisticated and well
is less reliable. developed principles; hence, it is
more reliable.
Accounting Method It is prepared from incomplete
records of business transactions
under single entry system.
It is prepared when accounts are
maintained under double entry
system.
Omission Omission of assets and
liabilities cannot be easily
identified.
Omission of assets and liabilities can
be easily identified, as omission will
lead to mismatch of either sides of
the balance sheet

Q.4 What practical difficulties are encountered by a trader due to incompleteness of accounting records?
Answer : The following are the difficulties that are encountered by a trader due to incompleteness of accounting records.

1. Accuracy of accounts: Arithmetical accuracy of accounts can not be ascertained, since proper records of accounts
   are not maintained. Consequently, Trial Balance cannot be prepared.
2. Encourages fraud: As the arithmetical accuracy cannot be determined; so, this encourages fraud and provides sufficient scope
   for bluffing and carelessness.
3. Difficult to ascertain correct profit or loss: Since all expenses and income are not recorded, true profit or losscannot be
   correctly ascertained.
4. Difficult to analyse the true financial position: As profit or loss cannot be ascertained easily, so the Balance Sheet cannot be
   easily prepared. Hence, the absence of Balance Sheet will not reflect the true financial position of the business.
5. Difficulty in comparison: Due to the incomplete records and non-availability of previous years’ data, comparison
   isnot possible. By the same token, comparisons with other firms are also not possible.
6. Unacceptable to tax authorities: It does not reflect the true and acceptable presentation of expenses and revenues. Hence,
   these are not acceptable by the tax authorities.
7. Raising funds: Since analysis of solvency, profitability and liquidity of business cannot be done, it is difficult to raise fund from outside.

Long Answer Type Question:

Q.1 What is meant by a ‘statement of affairs’? How can the profit or loss of a trader be ascertained with the help of a statement of affairs?

Answer :A Statement of Affairs resembles Balance Sheet; however, it is not called a Balance Sheet. The statement of affairs is a Statement of Assets and Liabilities. The main difference between a Statement of Affairs and a Balance Sheet is that while the former is prepared on the basis of physical counts and improper source documents, the latter is prepared purely on the basis of ledger accounts. Thus, the authentication and relevance of the latter is guaranteed. The excess of assets over liabilities (i.e., balancing figure) is denoted as the capital of the firm. The performa of the statement of affairs is presented below.

Statement of Affairs as on…
Liabilities	AmountRs	Assets	AmountRs
Bills Payable	–	Land and Building	–
Creditors	–	Plant and Machinery	–
Outstanding Expense		Furniture
Capital (Balancing Figure)@		Stock	–
		Debtors	–
		Cash and Bank	–
		Prepaid Expenses	–
		Capital-Deficiency (Balancing Figure, if any)*

* When liabilities are more than assets, then the balancing figure is denoted by Capital-Deficiency in the assets side of the statement of affairs.

^@ When the assets’ balance exceeds liabilities’ balance, the balancing figure is denoted by Capital in the liabilities side of the statement of affairs. 

For ascertaining profit or loss, if capital in the beginning is not given, then opening statement of affairs is prepared in order to calculate the capital in the beginning. Once the opening capital and closing capital is calculated, a Statement of Profit or Loss is prepared to determine the amount of profit earned or loss incurred during the accounting period.

Statement of Profit or Loss for the year ended………
Particulars	AmountRs
Closing capital at the end of the year	–
	Add: Drawings made during the year	–
	Less: Additional capital introduced during the year	–
Adjusted capital at the end of the year	–
	Less: Capital in the beginning of the year	–
	Profit (Loss) for the year	–
	(Balancing figure)

Q.2 Is it possible to prepare the profit and loss account and the balance sheet from the incomplete book of accounts kept by a trader’? Do you agree? Explain.

ANSWER: The Profit and Loss Account and the Balance Sheet can be prepared from the incomplete book of accounts through Conversion Method. According to this method, incomplete records are converted into double entry records. In case of incomplete records, details of some transactions are easily available like cash sales, cash purchases, creditors, debtors; however, there are number of transactions, the details of which may not be available directly. Yet, these details can be found out indirectly or logically. Some of the important items that are vital for preparing Balance Sheet are given below.

1. Opening Capital

2. Closing Capital

3. Credit Purchases

4. Cash Purchases

5. Credit Sales

6. Cash Sales

7. Payment from Debtors

8. Payment to Creditors

9. Opening Stock

10. Closing Stock

Below given are the steps included in the conversion method in a chronological order.

1. If opening capital is not given, then the first step is to prepare opening Statement of Affairs that gives the Opening Capital.

2. The second step is to prepare Cash Book that gives the opening or the closing cash and bank balance.

3. The next step is to prepare Total Debtors Account. It is prepared in order to find out one of the missing figures, such ascredit sales, opening debtors, closing debtors and cash received from debtors.

4. The subsequent step is to prepare Total Creditors Account to ascertain one of the missing figures, such as credit sales, opening creditors, closing creditors and cash paid to the creditors.

5. The last step is to prepare final accounts. On the basis of the missing figures ascertained in each of the above steps, along with other mentioned information, Trading and Profit and Loss Account and Balance Sheet can be prepared.

Q.3 Explain how the following may be ascertained from incomplete records:

(a) Opening capital and closing capital

(b) Credit sales and credit purchases

(c) Payments to creditors and collection from debtors

(d) Closing balance of cash.

ANSWER:

1. Opening capital and closing capital: Opening capital can be ascertained by preparing opening statement of affairs at the beginning of the accounting period and closing capital can be ascertained by preparing closing Statement of Affairs at the end of the accounting period.

Statement of Affairs as on….
Liabilities	AmountRs	Assets	AmountRs
Bills Payable	–	Land and Building	–
Creditors	–	Machinery	–
Outstanding Expense	–	Furniture	–
Capital (Balancing Figure)@	–	Stock	–
		Debtors	–
		Cash and Bank	–
		Prepaid Expenses	–
		Capital-Deficiency (Balancing Figure)*	–

* When liabilities are more than assets, capital appears in assets side, as it is balancing figure.

^@ When the assets’ balance exceeds liabilities’ balance, the balancing figure is denoted by capital in the Liabilities side of the Statement of Affairs. 

2. Credit Sales and Credit Purchases: Credit sales are ascertained as the balancing figure of the Total Debtors Account and Credit Purchases are ascertained as the balancing figure of the Total Creditors Account.

Total Debtors Account
Dr.					Cr.
Particulars	J.F.	AmountRs	Particulars	J.F.	AmountRs
Balance b/d		–	Cash		–
Bills Receivable		–	Bank		–
(Bill Dishonoured)			Discount Allowed		–
Bank (Cheque Dishonoured)		–	Bad Debts		–
Credit Sales (Balancing Figure)		–	Sales Returns		–
			Bills Receivable(Bill Drawn)		–
			Balance c/d		–

Total Creditors Account
Dr.					Cr.
Particulars	J.F.	Amount Rs	Particulars	J.F.	AmountRs
Cash		–	Balance b/d		–
Bank		–	Bank(Cheque Dishonoured)		–
Bills Payable		–	Bills Payable (Bills Dishonoured)		–
Discount Received		–	Credit Purchases		–
Purchases Returns		–	(Balancing Figure )		–
Balance c/d		–

3. Payment to creditors and collection from debtors: Payment to the creditors are ascertained from the Total Creditors Account as a balancing figure and collection from debtors are ascertained from the Total Debtors Account as a balancing figure.

4. Closing balance of cash: Closing balance of cash is ascertained from the Cash Book, which shows all receipts in the debit side and all payments in the credit side during an accounting year and the balancing figure of the cash book is the closing balance of cash.

In This Post we are  providing Chapter-2 Biological Classification NCERT MCQ for Class 11 Biology which will be beneficial for students. These solutions are updated according to 2021-22 syllabus. These MCQS  can be really helpful in the preparation of Board exams and will provide you with a brief knowledge of the chapter.

NCERT MCQ ON BIOLOGICAL CLASSIFICATION

Question 1.
Sexual reproduction is by copulation of male and female followed by embryological development is characteristic feature of
(a) Animalia
(b) Fungi
(c) Mucor
(d) Plantae

Answer: (a) Animalia

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Question 2.
The blue-green algae are also referred as
(a) Cyanobacteria
(b) Eubacteria
(c) Archaebacteria
(d) Heterotrophic bacteria

Answer: (a) Cyanobacteria

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Question 3.
Antibiotics cure disease by
(a) Competitive Inhibition
(b) Fighting with the disease causing organism
(c) Turning the pathogen out of the body
(d) Removing the pain

Answer: (a) Competitive Inhibition

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Question 4.
The organism that completely lack a cell wall and are smallest living cell know, can survive without oxygen is
(a) Bacteriophages
(b) Yeast
(c) Mycoplasmas
(d) Virus

Answer: (c) Mycoplasmas

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Question 5.
Naked cytoplasm, multinucleated and saprophytic are the characteristics of
(a) Monerans
(b) Slime moulds
(c) Fungi
(d) Protists

Answer: (b) Slime moulds

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Question 6.
Wine turns sour because of
(a) Heat
(b) Aerobic bacteria
(c) Anaerobic bacteria
(d) Exposure to the light

Answer: (b) Aerobic bacteria

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Question 7.
Which among the following is not included in the three domains system?
(a) Bacteria Domain
(b) Archaea Domain
(c) Viral Domain
(d) Euskara Domain

Answer: (c) Viral Domain

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Question 8.
Which one of the following is true for fungi?
(a) They are phototrophs
(b) They lack a rigid cell wall
(c) They are heterotrophs
(d) They lack nuclear membrane

Answer: (c) They are heterotrophs

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Question 9.
Which Archaebacteria is present in the guts of ruminant animals such as cows and buffaloes?
(a) Speculums
(b) Methanogens
(c) Heterogens
(d) Halophiles

Answer: (b) Methanogens

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Question 10.
Which of the following is an exception of monera kingdom –
(a) Bacteria
(b) Virus
(c) Cyanobacteria
(d) Mycoplasma

Answer: (b) Virus

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Question 11.
Archegoniophore is present in:
(a) Marchantia
(b) Chara
(c) Adiantum
(d) Funaria

Answer: (a) Marchantia

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Question 12.
The main difference between Gram positive and gram negative resides in the composition of:
(a) Cilia
(b) Cell-wall
(c) Cell-membrane
(d) Cytoplasm

Answer: (b) Cell-wall

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Question 13.
Which of the following structure is not found in prokaryotic cells :
(a) Plasma membrane
(b) Ribosomes
(c) Nuclear membrane and membranous cell organelles
(d) Hereditary substance

Answer: (c) Nuclear membrane and membranous cell organelles

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Question 14.
Virus envelope is known as:
(a) Capsid
(b) Virion
(c) Nucleoprotein
(d) Core

Answer: (a) Capsid

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Question 15.
Moneran phylogeny is best evidenced by sequence of nucleotides in RNA of ribosomes. On the basis of this information, the most primitive monerans are :-
(a) Archaebacteria
(b) Eubacteria
(c) Filamentous bacteria
(d) Cyanobacteria

Answer: (a) Archaebacteria

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Short Answer Type Question:

Q.1Why is it necessary to record the adjusting entries in the preparation of final accounts?

ANSWER: It is extremely important to record the adjusting entries in the preparation of final accounts.

1. This is done in order to assess the true net profit or net loss of the business organisation.

2. It helps us record those adjustments which were left or omitted and were not recorded in the accounts.

3. It assists us to separate all the financial transactions into a year-wise category. The financial statements include only those entries which belong to the current year. It rules out the previous and forthcoming years’ entries which are the basis for accrual basis of accounting.

4. Further, it provides us the room for making various provisions which are made at the end of the year, after assessing the entire year’s performance.

Q.2 What is meant by closing stock? Show its treatment in final accounts.

ANSWER: Closing stock implies the value of unsold goods at the end of an accounting period. The valuation of closing stock is done on the basis of its cost price or the realisable value, whichever of the two is lesser.

Example: If a good with the cost price of Rs 20,000 is purchased at the end of an accounting period and its realisable value is Rs 30,000, then the closing stock will be valued at Rs 20,000 not at Rs 30,000.

Treatment of closing stock

If closing stock is given in the adjustment, then there will be two postings.

Trading Account

Balance Sheet

Dr.

Cr.

Particulars

Amount

Particulars

Amount

Liabilities

Amount

Assets

Amount

Closing Stock

If closing stock is given in the trial balance, then it needs to be shown only in the assets side of the Balance Sheet.

Q.3 State the meaning of:

(a) Outstanding expenses

(b) Prepaid expenses

(c) Income received in advance

(d) Accrued income

ANSWER: (a) Outstanding Expenses: These refer to those expenses which belong to and are incurred in the current accounting period but are left unpaid. In other words, we can say that the services in exchange of these payments have been realised but the payments are not made. For example, if Rs 1000 wages are outstanding, then this means that labour worth Rs 1,000 has been used but has not been paid for till the end of the year.

(b) Prepaid Expenses: These refer to those expenses for which the benefits have not been realised but the payments have already been made in advance. These are basically the advance payments for the next year, which are made in the current accounting period.

Example: Prepaid insurance premium of Rs 1,000 means that the payment of Rs 1,000 is made in advance for the next accounting period.

(c) Income Received in Advance: This refers to the income received whose actual realisation of benefits will occur in the next accounting period. These are also called unearned incomes.

Example: Commission of Rs 1,200 for the year 2011-12 is received in 2010-11. This commission does not belong to the current year as it is related with the work to be done in the next accounting year i.e., 2011-12.

(d) Accrued Income: This refers to those incomes which have been earned during an accounting period but have not been actually realised in the current period. These are also called earned incomes.

Q.4 Why is it necessary to create a provision for doubtful-debts at the time of preparation of final accounts?

ANSWER: The provision for doubtful-debts is created with the motive of minimising the effect of actual loss caused by the bad-debts. The actual figure of the current year’s bad-debts will be known in the next year with the realisation of debtors. At that point of time, it will be known as to how many of the debtors have become bad. Thus, instead of waiting for the realisation of debtors, we create a provision for doubtful-debts in order to cover the expected future loss associated with the debtors becoming bad.

Q.5 What is meant by provision for discount on debtors?

ANSWER: The discount is allowed to those debtors who are ready to pay a huge amount in one shot. It is given in order to encourage them to repay the debt. The provision for discount on debtors is created on good debtors. The amount of good debtors is calculated by deducting the amount of Bad Debts, further Bad Debts and new provision for Doubtful Debts. The required percentage of the good debtors is calculated and the provision for discount on debtors is deducted from the Debtors’ amount in the Assets side of a Balance Sheet. As it is a loss for the business, it is shown in the Debit side of the Profit and Loss Account.

Long Answer type Question:

Q.1 What are adjusting entries? Why are they necessary for preparing the final accounts?
ANSWER: Adjusting entries are the entries of those adjustments which are given outside the trial balance and which help us reflect the true
financial position i.e., profit or loss of an organisation. According to the double-entry system, all the adjustments given outside the
Trial Balance are posted at two places. The adjusting entries are necessary they enable us to post and take into account those
items which are omitted or entered with the wrong amount and/or recorded under wrong heads.
The treatment of adjusting entries is necessary.
(i) It helps us assess the true financial position of an organisation based on accrual basis of accounting.
(ii) It helps us know the actual figure of profit or loss.
(iii) It records the omitted entries and rectifies the errors made.
(iv) It helps in providing depreciation and making different provisions, such as Bad Debts and depreciation.

Q.2 What is meant by provision for doubtful-debts? How are the relevant accounts prepared and what journal entries are
recorded in the final accounts? How is the amount for provision for doubtful-debts calculated?
ANSWER: The provision for doubtful-debts is provided after deducting the amount of bad-debts from the
debtors. The provision for doubtful-debts is provided because of the rationale that the actual
amount of bad-debts will only be known in the next year, when the amount of debtors will get
realised. Thus, it will only then be known as to how many of the debtors have become bad. Thus,
in order to bridge-up the expected future loss, we create a provision for doubtful-debts.
For the provision for doubtful-debts, we prepare debtors account and provision for doubtfuldebts account. For recording bad-debts, the following journal entry is passed.
Profit and Loss A/c Dr.
To Provision for Bad and Doubtful Debts A/c
Example: An extract from a Trial Balance as on December 31, 2010.
Debtors 10,500
Provision for Doubtful Debts as on January 01, 2010 1,000
Bad Debts Account 1,500
Adjustment:
(i) Further bad-debts amount to Rs 500.
(ii) Create a provision for doubtful-debts at 5% on debtors.
Explanation
The provision for Doubtful Debt as on January 01, 2010 was Rs 1,000 and the Bad Debts during
the year were Rs 1,500. In addition to this, there was a further Bad Debt of Rs 500 which was
known at the end of the year i.e., December 31, 2010. Now we need to create a provision for
Doubtful Debts at 5% on debtors.
Profit and Loss A/c
Dr. Cr.
Particulars AmountParticularsAmount
Bad Debts 1,500
Add: Further Bad Debts 500
Add: New Provision for Doubtful Debts 500
Less: Old Provision (given in Trial Balance) 1,000 1,500
Balance Sheet
Liabilities Amount Assets Amount
Debtors 10,500
Less: Further Bad Debts 500
10,000
Less: New Provision for Doubtful Debts 500 9,500

The amount of provision for Doubtful Debts is calculated by debiting the amount of further Bad
Debts from debtors and calculating the given percentage of provision on remaining debtors. This
provision is added to the Bad Debts amount in the profit and loss account and deducted from
debtors in the assets side of a Balance Sheet.
Q.3 Show the treatment of prepaid expenses, depreciation and closing stock at the time of preparation of final accounts when
they are given
(a) inside the Trial Balance
(b) outside the Trial Balance
ANSWER: (i) Prepaid expenses
(a) When given inside the Trial Balance: It will be posted only in the Assets side of the Balance Sheet.
Balance Sheet
Assets Amount
Prepaid Expenses
(b) When given outside the Trial Balance:
Dr. Cr.
Particulars Amoun
t
Particular
s
Amoun
t
Liabilitie
s
Amoun
t
Assets Amoun
t
Concerned
Expenses
Prepaid
Expenses
Less: Prepaid
Expenses

(ii) Depreciation
(a) If depreciation is given inside the Trial Balance, then it can be shown in the Debit side of the Profit and Loss A/c. It means that
this depreciation amount has already been deducted from the concerned assets in the Balance Sheet.
Profit and Loss Account
Dr. Cr.
Particulars Amount Particulars Amount
Depreciation

(b) If depreciation is given outside the Trial Balance, i.e. in the adjustments, then it is shown in the debit side of the Profit and Loss
Account and deducted from the concerned assets in the Assets side of Balance Sheet

In This Post we are  providing Chapter-1 The Living World NCERT MCQ for Class 11 Biology which will be beneficial for students. These solutions are updated according to 2021-22 syllabus. These MCQS  can be really helpful in the preparation of Board exams and will provide you with a brief knowledge of the chapter.

NCERT MCQ ON THE LIVING WORLD

Question 1 : The living organisms can be unexceptionally distinguished from the non-living things on the basis of their ability for

• a) reproduction
• b) growth and movement
• c) responsiveness to touch.
• d) interaction with the environment and progressive evolution

Answer : reproduction

Question 2 : Which one of the following animals is correctly matched with its particular named taxonomic category ?

• a) Tiger – tigris, the species
• b) Cuttle fish – mollusca, a class
• c) Humans – primata, the family
• d) Housefly – musca, an order

Answer : Tiger – tigris, the species

Question 3 : Choose correct scientific name of mango

• a) Mangifera indica Linn
• b) Mangifera indica Hook
• c) Mangifera indica L
• d) Mangifera Indica

Answer : Mangifera indica Linn

Question 4: Arrange the following taxonomic categories in increasing number of common characteristics w.r.t. plant mango A. Dicotyledonae B. Polymoniales C. Mangifera D. Angiospermae E. Anacardiaceae

• a)
• b)
• c)
• d) None of these

Answer :

Question 5 : The common characteristics between brinjal and wheat can be observed maximum at the level of their.

• a) Division
• b) Kingdom
• c) Phylum
• d) None of these

Answer : Division

Question 6 : Study of number of chromosomes for resolving difficulties in classification is used in

• a) Cytotaxonomy
• b) Biochemical taxonomy
• c) Morphotaxonomy
• d) Chemotaxonomy

Answer : Cytotaxonomy

Question 7 : Most names in biological nomenclature of living organisms are taken from which language?

• a) Latin
• b) French
• c) Hindi
• d) German

Answer : Latin

Question 8 : The main objective of plant taxonomy is

• a) all of these
• b) to provide Latin ‘scientific’ names for every group of plants in the world
• c) to provide a method for identification and nomenclature
• d) to study the world’s flora

Answer : all of these

Question 9: Which one of the following has least similar characters?

• a) Class
• b) Genus
• c) Species
• d) Family

Answer : Class

Question 10 : The ascending or descending arrangement of taxonomic categories is called as

• a) hierarchy
• b) classification
• c) taxonomy
• d) key

Answer : hierarchy

Question 11 : Animal taxonomists have named the animals according to

• a) International code for Zoological Nomenclature
• b) International classification for Zoological Nomenclature
• c) Indian code for Zoology Nomenclature
• d) International class for Zoology Nomenclature

Answer : International code for Zoological Nomenclature

Question 12 : Which of the following statement is not true?

• a) When the external temperature is warm, the superficial blood vessels constrict to prevent loss of body heat
• b) Homeostasis is a fundamental property of life
• c) Human beings are endothermic
• d) None of these

Answer : When the external temperature is warm, the superficial blood vessels constrict to prevent loss of body heat

Question 13: The usage of binomial names, for plant species was accepted by all after the publication of the work by

• a) Linnaeus
• b) Darwin
• c) Hooker
• d) None of these

Answer : Linnaeus

Question 14 : A taxon with reference to classification of living organisms can be defined as

• a) a group of any one rank of organisms
• b) a group of organisms based on chromosome numbers
• c) a group of similar species
• d) a group of similar genera

Answer : a group of any one rank of organisms

Question 15 : Species are considered as

• a) The lowest units of classification
• b) Artificial concept of human mind which cannot be defined in absolute terms
• c) Real basic units of classification
• d) Real units of classification devised by taxonomists

Answer : The lowest units of classification

Short Answer Type Question:

Q.1 What are the objectives of preparing financial statements?

ANSWER: The following are the objectives of preparing financial statements.

1. To ascertain profit earned or loss incurred by a business during an accounting period. This is estimated by preparing Trading and Profit and Loss Account.

2. To ascertain the true financial position of a business. This is reflected by the Balance Sheet.

3. To enable comparison of current year’s performance with that of the previous year’s, i.e., intra-firm comparisons. Also, to compare own performance with that of the other firms in the same industry, i.e., inter-firm comparisons.

4. To assess the solvency and credit worthiness of the business

5. To provide various provisions and reserves to meet unforeseen future conditions and to toughen the financial position of the business

6. To provide vital information to facilitate various users of accounting information in decision making process.

Q.2 What is the purpose of preparing trading and profit and loss account?

ANSWER: The purposes of preparing Trading Account are:

1. To calculate gross profit earned or gross loss incurred during an accounting period

2. To estimate the cost of goods sold

3. To record direct expenses (i.e., expenses incurred on the purchases and manufacturing of goods)

4. To measure the adequacy and reasonability of direct expenses incurred by comparing purchases with direct expenses incurred

5. To compare the realised efficiency and performance with the desired or proposed targets

The purposes of preparing Profit and Loss Account are:

1. To calculate net profit or net loss

2. To ascertain net profit ratio and to compare this year’s net profit ratio with that of the desired and proposed target in order to assess the efficiency and effectiveness

3. To measure the adequacy and reasonability of indirect expenses incurred by ascertaining ratio between indirect expenses and net profit

4. To compare current year’s actual performance with desired and planned performance

5. To provide various provisions and reserves to meet unforeseen future conditions and to toughen the financial position of the business

Q.3 Explain the concept of cost of goods sold?

ANSWER: Cost of goods sold (COGS) is the cost of merchandise that is sold to the customers. It includes cost of raw materials purchased, direct expenses incurred, value of opening stock, i.e., the value of the last year’s unsold stock and excludes closing stock if any, i.e., the value of current year’s unsold stock. The formula to calculate COGS is:

Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses − Closing Stock

Q.4 What is a balance sheet? What are its characteristics

ANSWER: Balance Sheet is a statement prepared to ascertain values of assets and liabilities of a business on a particular date. It is called Balance Sheet as it contain balances of real and personal accounts, which are not closed on a particular date.

Characteristics of Balance Sheet

1. It is a statement of assets and liabilities.

2. The total of Assets side must be equal to Liabilities sides.

3. It is prepared at a particular date.

4. It helps in ascertaining the financial position of the business.

Q.5 Distinguish between capital and revenue expenditure and state whether the following statements are items of capital  or revenue expenditure

(a) Expenditure incurred on repairs and whitewashing at the time of purchase of an old building in order to make it usable.

(b) Expenditure incurred to provide one more exit in a cinema hall in compliance with a government order.

(c) Registration fees paid at the time of purchase of a building

(d) Expenditure incurred in the maintenance of a tea garden which will produce tea after four years.

(e) Depreciation charged on a plant.

(f) The expenditure incurred in erecting a platform on which a machine will be fixed.

(g) Advertising expenditure, the benefits of which will last for four years.

ANSWER:

Basis of Difference	Capital Expenditure	Revenue Expenditure
Meaning	It is incurred to increase the earning capacity of a business.	It is incurred to maintain the earning capacity of a business.
Purpose	It is incurred to acquire fixed assets to carry out operations.	It is incurred to conduct day to day activities.
Benefits	The benefits of such expenditures can be availed for more than one year.	The benefits of such expenditures can only be availed for one year.
Nature	It is non-recurring by nature.	It is generally recurring in nature.
Shown	Capital expenditure is shown in the assets side of the Balance Sheet.	Revenue expenditure is shown in the debit side of the trading and Profit and Loss Account.

(a) Capital expenditure

(b) Revenue expenditure

(c) Capital expenditure

(d) Capital expenditure

(e) Revenue expenditure

(f) Capital expenditure

(g) Deferred revenue expenditure

Q.6 What is an operating profit?

ANSWER: Operating profit is a profit earned though normal activities of a business. It is the excess of gross profit over operating expenses. In other words, it is the excess of operating revenue over operating cost. It is also termed as earning before interest and tax (EBTI). It does not include incomes and expenses that are not related to main course of the business.

It is calculated by following formulae:

Operating Profit = Gross Profit − Operating Expenses

Or,

Operating Profit = Sales − Operating Cost

Operating Profit = Sales − COGS − Operating Expenses

Operating expenses include office and administrative expenses, selling and distribution expenses, discount, bad debts, etc.

Long Answer Type Question:

Q.1What are financial statements? What information do they provide?

Answer: Every business firm wants to know its financial position at the end of an accounting period. In order to assess its financial position,
profit earned or loss incurred during an accounting period, the book value of its assets and liabilities is to be ascertained. In order to
serve this purpose, financial statements are prepared. Financial statements are the statements showing profitability and financial
position of a business at the end of the year. It includes:

1. Income statements, viz., Trading and Profit and Loss Account, which represents direct and indirect expenses incurred to
   generate revenues. On one hand, trading account discloses either gross profit or gross loss, on the other hand, profit and loss
   account discloses either net profit or net loss.
2. Statement of financial position, viz., Balance Sheet, which enlists the book value of all the assets and liabilities of the firm.
   Balance Sheet discloses the true financial position, solvency and credit worthiness of the business.
   The information provided by the financial statements is in the form of gross profit or gross loss, net profit or net loss and book value
   of the assets and their liabilities. The value and relevance of the information provided by the financial statements varies from one
   user of accounting information to another. Various users of accounting information can be explained graphically as below.
3. Internal: Internal users are those persons who are directly related to the business. For example, owners, management,
   employees, workers, etc.
   a. Owners: The information required by owners about profit earned or loss incurred during an accounting period. This information is
   provided by the financial statements in form of gross (net) profit or gross (net) loss.
   b. Management: Financial statements provide vital information to the management for decision making, designing policies and
   future plans. There are various parameters such as ratio of direct (indirect) expenses to gross (net) profit, by the help of which
   management can check the adequacy, control and relevance of various expenses incurred and plans and policies implemented.
   c. Employees and workers: They expect bonus at the year end, which is directly related to the profit of that particular period. The
   net profit as disclosed by the profit and loss account forms the basis of this expectation.
4. External: External users are those persons and institutions that are indirectly related to the business. For example, government,
   tax authorities, investors, etc.
   a. Government: Government needs information in order to ascertain various macroeconomic variables, such as national income,
   GDP, employment opportunities generated, etc.
   b. Tax authorities: Tax department is interested in knowing the actual sales, production, turnovers and exports and imports by the
   business. Tax department levies various taxes, such as income tax, VAT, excise tax, etc. The information disclosed by the financial
   statements form the basis of estimation of the tax dues of the business.
   c. Investors: Financial statements help to know about the earning capacity, scope and potential to grow and to assess financial
   position of the business. It also helps in knowing various investments made by the business and also investments made by the
   organisations and individuals in the business. This information helps the investors to assess and determine whether investments by
   them will be fruitful or not.
   d. Bank and other financial institutions: Financial statements provide information to banks and other financial institutions, such
   as LIC, GIC, etc., about the credit worthiness, solvency and repaying capacity of the business.
   e. Creditors: Financial statements provide information to the creditors about the goodwill of the business and its credit worthiness
   and repaying capacity.

Q.2 What are closing entries? Give four examples of closing entries.
Answer :The balances of all nominal accounts are transferred to the Trading and Profit and Loss Account. The entries required for such
transfers are termed as closing entries.
The examples of closing entries are given below.

1. Closing entries to transfer the following items to the debit side of trading account from Trial Balance:
   Trading A/c Dr.
   To Opening Stock A/c
   To Purchase A/c
   To Wages A/c
   To Carriage A/c
   To All Other Direct Expenses A/c
   (Transferred debit balances to Trading Aaccount)
2. Closing entries to transfer the following items to the credit side of trading account from Trial Balance:
   Sales A/c Dr.
   Closing Stock A/c Dr.
   To Trading A/c
   (Transferred credit balances to Trading Account)
3. Closing entries to transfer the following items to the debit side of Profit and Loss Account from Trial Balance:
   Profit and Loss A/c Dr.
   To Salaries
   To Rent
   To Bad Debts
   To All in Direct Expenses
   (Transferred debit balances to Profit and Loss Account)
4. Closing entries to transfer the following items to the credit side of Profit and Loss Account from Trial Balance:
   Commission Received A/c Dr.
   Interest Received A/c Dr.
   All Other Indirect Income A/c Dr.
   To Profit and Loss A/c
   (Transferred credit balances
   to Profit and Loss Account)

Q.3 Discuss the need of preparing a balance sheet.

Answer :The needs to prepare a Balance Sheet are given below.

1. It helps in determining the nature and book value of various assets, such as fixed assets, investments, current assets, etc. at the
   end of an accounting period.
2. It helps in ascertaining the nature and amount of various liabilities like long term liabilities, current liabilities, provisions, etc., which
   a business owes.
3. It discloses important information about capital invested in a business. The additional capital invested during the accounting
   period, drawings of the owners and profit (or loss) added to (or deducted from) the capital of the business.
4. It helps in assessing the solvency of a business.
5. It discloses the true financial position of a business at a particular point of time.
6. It lays down the basis for maintaining new books for next accounting period.

Q.4 What is meant by Grouping and Marshalling of assets and liabilities? Explain the ways in which a balance sheet may be
Answer : The rationale behind preparing financial statements is to present a summarised version of all
financial activities in such a manner that all users can interpret and understand the information
easily, appropriately and also take decisions accordingly.
Grouping of assets and liabilities: Grouping means showing similar assets and liabilities under
a single head. For example, all assets that can be used for more than a year are clubbed together
under the heading ‘fixed assets’, for example, building, furniture, machinery, etc.
Marshalling of asset and liabilities: When assets and liabilities are shown in a particular order
of liquidity or permanence, they are said to be marshalled.

1. In order of liquidity: Liquidity means convertibility into cash. Assets that can be converted
   into cash in least possible time, i.e., more liquid assets are recorded first, followed by the lesser
   liquid assets. In a balance sheet, cash in hand is recorded at first and goodwill at last. In the same
   way, liabilities that are to be paid first, i.e., high priority liabilities are recorded first, followed by
   the lower priority ones. In a balance sheet, current liabilities are recorded first and then the long
   term liabilities and capital at the last.
   Balance Sheet of………………, as on…………….
   Liabilities Amount
   Rs Assets Amount
   Rs
   Current Liabilities: Current Assets:
   Bills Payable – Cash in Hand –
   Sunday Creditors – Cash at Bank –
   Bank Overdraft – Bills Receivable –
   Long Term Loans – Debtors –
   Capital: Closing Stock –
   Opening balance – Long Term Investments
   Add: Net Profit – Fixed Assets:
   Less: Drawings – – Furniture –
   Plant and Machinery –
   Land and Building –
   Goodwill –

• –

1. In order of permanence: It is just the reverse of the above method. In this, assets and
   liabilities are arranged in their reducing level of permanence. The assets with higher degree of
   permanence are recorded first, followed by the assets with lower degree of permanence. For
   example, goodwill, land and building have the highest degree of permanence and hence are
   recorded at the top, whereas, cash at bank and cash in hand are recorded at the bottom. In the
   same way, liabilities are shown according to their life in the business. Liabilities with higher
   level of permanence like, capital is recorded at the top and other liabilities with lower
   permanence are recorded at the bottom.
   Balance Sheet of………………, as on…………….
   Liabilities
   Amount
   Rs Assets
   Amount
   Rs
   Capital: Fixed assets:
   Opening Balance – Goodwill –
   Add: Net profit – Land and Building –
   Less: Drawings

In This Post we are  providing Chapter-7 Environmental Chemistry NCERT MCQ for Class 11 Chemistry which will be beneficial for students. These solutions are updated according to 2021-22 syllabus. These MCQS  can be really helpful in the preparation of Board exams and will provide you with a brief knowledge of the chapter.

NCERT MCQ ON ENVIRONMENTAL CHEMISTRY

Question 1.
Which of the following has greatest affinity for hemoglobin?
(a) CO
(b) NO
(c) O₂
(d) CO₂

Answer: (b) NO

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Question 2.
Which of the following is the coldest region?
(a) Troposphere
(b) Mesosphere
(c) Stratosphere
(d) Thermosphere.

Answer: (b) Mesosphere

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Question 3.
The aromatic compounds present as particulates are
(a) Benzene
(b) Toluene
(c) Nitrobenzene
(d) Poly cyclic hydrocarbons.

Answer: (d) Poly cyclic hydrocarbons.

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Question 4.
Ozone layer is present in
(a) Troposphere
(b) Stratosphere
(c) Mesosphere
(d) Exosphere

Answer: (b) Stratosphere

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Question 5.
Depletion of ozone layer causes
(a) Blood cancer
(b) Lung cancer
(c) Skin cancer
(d) Breast cancer.

Answer: (c) Skin cancer

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Question 6.
Photochemical smog is formed in
(a) Summer during morning time
(b) Summer during day time
(c) Winter during morning time
(d) Winter during day time.

Answer: (b) Summer during day time

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Question 7.
Which of the following is not involved in formation of photochemical smog?
(a) NO
(b) O₃
(c) C_xH_y
(d) SO₂

Answer: (d) SO₂

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Question 8.
The most abundant hydrocarbon pollutant is
(a) Methane
(b) Ethane
(c) Propane
(d) Butane

Answer: (a) Methane

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Question 9.
Which of the following is present in maximum amount in acid rain?
(a) HNO₃
(b) H₂SO₄
(c) HCl
(d) H₂CO₃

Answer: (b) H₂SO₄

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Question 10.
Which of the following is not considered a pollutant?
(a) NO₂
(b) CO₂
(c) O₃
(d) C_xH_y

Answer: (b) CO₂

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Question 11.
Which of the following is not a greenhouse gas?
(a) CO₂
(b) CH₄
(c) Chlorofluorocarbons
(d) O₂

Answer: (d) O₂

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Question 12.
The size of the particulates of H₂SO₄ fog lies in the range
(a) 5-100 nm
(b) 100-500 nm
(c) 500-1000 nm
(d) 1000-10000 nm

Answer: (c) 500-1000 nm

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Question 13.
Which of the following is true about photochemical smog?
(a) It is reducing in nature
(b) It is formed during winter
(c) It is a mixture of smoke and fog
(d) It causes irritation in eyes.

Answer: (d) It causes irritation in eyes.

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Question 14.
Which of the following statement is false?
(a) London smog is oxidizing in nature
(b) London smog contains H₂SO₄ droplets
(c) London smog is formed during winter
(d) London smog causes bronchitis.

Answer: (a) London smog is oxidizing in nature

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Question 15.
The region closest to earth’s surface is
(a) Stratosphere
(b) Mesosphere
(c) Troposphere
(d) Thermosphere.

Answer: (c) Troposphere

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In This Post we are  providing Chapter-6 Hydrocarbons NCERT MCQ for Class 11 Chemistry which will be beneficial for students. These solutions are updated according to 2021-22 syllabus. These MCQS  can be really helpful in the preparation of Board exams and will provide you with a brief knowledge of the chapter.

NCERT MCQ ON HYDROCARBONS

Question 1 : The number of primary, secondary and tertiary carbons in 3, 4-dimethylheptane are respectively

• a) 4, 3 and 2
• b) 4, 2 and 3
• c) 2, 3 and 4
• d) 3, 4 and 2

Answer: 4, 3 and 2

Question 2: Which of the following statements is false for isopentane

• a) It has a carbon which is not bonded to hydrogen
• b) It has one CH group
• c) It has three CH₃ groups
• d) It has one CH₂ group

Answer: It has a carbon which is not bonded to hydrogen

Question 3: How many isomers are possible for the C₅H₁₂ ?

• a) 3
• b) 5
• c) 2
• d) 4

Answer: 3

Question 4: The number of 4° carbon atoms in 2,2,4,4-tetramethyl pentane is –

• a) 2
• b) 4
• c) 1
• d) 3

Answer: 2

Question 5: Which one of the following cannot be prepared by Wurtz reaction ?

• a) CH₄
• b) C₂H₆
• c) Both
• d) None of these

Answer: CH₄

Question 6: Pure methane can be produced by

• a) Soda-lime decarboxylation
• b) Reduction with H₂
• c) Kolbe’s electrolytic method
• d) Wurtz reaction

Answer: Soda-lime decarboxylation

Question 7: Sodium salts of carboxylic acids on heating with soda lime give alkanes containing _______ than the carboxylic acid

• a) one carbon less
• b) one carbon more
• c) two carbon less
• d) All of these

Answer: one carbon less

Question 8: Which one of the following has the least boiling point?

• a) 2, 2– dimethylpropane
• b) 2-methylpropane
• c) n-butane
• d) n-pentane

Answer: 2, 2– dimethylpropane

Question 9: Which one of the following has highest boiling point?

• a) n-Octane
• b) Iso-octan
• c) 2,2 dimethyl pentane
• d) All have equal values

Answer: n-Octane

Question 10: In the free radical chlorination of methane, the chain initiating step involves the formation of

• a) chlorine free radical
• b) hydrogen chloride
• c) methyl radical
• d) chloromethyl radical.

Answer: chlorine free radical

Question 11: Which one of the following gives only one monochloro derivative?

• a) neo-pentane
• b) 2-methylpentane
• c) n-hexane
• d) 2, 3-dimethylpentane

Answer: neo-pentane

Question 12: Photochemical halogenation of alkane is an example of

• a) free radical substitution
• b) nucleophilic substitution
• c) electrophilic addition
• d) electrophilic substitution

Answer: free radical substitution

Question 13: 2-Methylbutane on reacting with bromine in the presence of sunlight gives mainly

• a) 2-bromo-2-methylbutane
• b) 1-bromo-2-methylbutane
• c) 2-bromo-3-methylbutane
• d) 1-bromo-3-methylbutane

Answer: 2-bromo-2-methylbutane

Question 14: Liquid hydrocarbons can be converted to a mixture of gaseous hydrocarbons by

• a) cracking
• b) distillation under reduced pressure
• c) hydrolysis
• d) oxidation

Answer: cracking

Question 15: n-Hexane isomerizes in presence of anhydrous aluminum chloride and hydrogen chloride gas to give

• a) Both
• b) 2-Methyl pentane
• c) 3-Methyl pentane
• d) None of these

Answer: Both

Short Answer type question:

Q.1 Write two points of distinction between bills of exchange and promissory note.
Solution:

Q2. State any four essential features of bill of exchange.
ANSWER:
Essential features of bills of exchange are as follows:

1. A bill of exchange is a written order to make payment.
2. It is an unconditional order to make payment by a person i.e. drawee.
3. The amount of bill of exchange and the date of payment are certain.
4. It is signed by the drawer of the bill.
5. It is accepted by the drawee by signing on it.
6. The amount specified in the bill of exchange is payable either on demand or on the expiry of a fixed period.
7. The amount specified in the bill is payable either to a certain person or to his order or to the bearer of the bill.
8. It is stamped as per legal requirements.

Q3. State the three parties involved in a bill of exchange.
ANSWER:
There are three parties in a bill of exchange:

1. Drawer is the person who makes the bill of exchange. She/he is a person who has granted credit to the person on whom the bill of exchange is drawn. The drawer is entitled to receive money from the drawee (acceptor).
2. Drawee is the person on whom the bill of exchange is drawn for acceptance and to whom credit has been granted by the drawer. He/she is liable to pay money to the creditor/drawer.
3. Payee is the person who receives the payment from the drawee. Usually the drawer and the payee are the same person.

Q4. What is meant by maturity of a bill of exchange?
ANSWER:
The date calculated after adding 3 days of grace to the due date of a bill is called the date of maturity of a bill. It is to be noted that when a bill is to be payable on demand/at sight, then days of grace is not applicable. When the period of a bill is mentioned in days, the maturity of bill is calculated in days. Similarly, when the period of a bill is mentioned in months, the maturity of bill is calculated in months. In certain cases, when the maturity date of any bill falls on a public holiday, then the maturity date of the bill will be the previous business day.

Q4. What is meant by maturity of a bill of exchange?
ANSWER:
The date calculated after adding 3 days of grace to the due date of a bill is called the date of maturity of a bill. It is to be noted that when a bill is to be payable on demand/at sight, then days of grace is not applicable. When the period of a bill is mentioned in days, the maturity of bill is calculated in days. Similarly, when the period of a bill is mentioned in months, the maturity of bill is calculated in months. In certain cases, when the maturity date of any bill falls on a public holiday, then the maturity date of the bill will be the previous business day.

Q5. What is meant by dishonour of a bill of exchange?
ANSWER:
When the drawee of the bill fails to make the payment on the maturity date of the bill, then the bill is said to have been dishonoured. Hence, liability of the acceptor is restored. Entries made for recording dishonour of the bill of exchange are as follows:
In the books of drawer

Q6. Name the parties to a promissory note
ANSWER:
There are two parties to a promissory note:

1. Maker- The person who makes the note and undertakes to pay the amount.
2. Payee- The person who receives the payment.

Q 7. What is meant by acceptance of a bill of exchange?
ANSWER:
A bill of exchange is a written instrument which contains an unconditional order directing a person to pay a certain amount on an agreed date. In other words, it is drawn by the creditor on her/his debtors to make a payment of a certain amount on the mentioned date. Such a bill comes into existence after the consent of both the parties. A bill cannot come into existence without the acceptance of a debtor. Hence, the debtor of the bill has to accept the terms of the bill, sign the same and make it a legal document.

Q8. What is noting of a bill of exchange?
ANSWER:
When the drawee of the bill fails to make the payment on the maturity date of the bill, then the bill is said to have been dishonoured. To have a legal proof of the dishonour, the bill gets noted by the notary public who is approved by the central/state government. The notary public charges fees called the noting charges for noting and protesting the bill of exchange of its dishonour

Q9. What is meant by renewal of a bill of exchange?
ANSWER:
When the drawee does not have enough funds to make the payment, he may approach the drawer and ask for an extension of time for the payment. If the drawer agrees, then a new bill is drawn which is known as renewal of bill. The new bill may include interest for the extended period.

Q10. Give the performa of a Bills Receivable Book.
ANSWER:

Q11. Give the performa of a Bills Payable Book.
ANSWER:

Q12. What is retirement of a bill of exchange?
ANSWER:
When the drawee of the bill pays off the amount of the bill before the maturity of the bill it is called retirement of the bill. Holder of the bill may give discount for such earlier payment which is called as ‘rebate’.
Entry in the books of the holder of the bill

Q13. Give the meaning of rebate.
ANSWER:
If the drawee wishes to pay the bill before the due date of the bill to the holder and the holder accepts such request, then due to the early payment, the holder may give some discount to the drawee. Such a discount is termed as rebate.

Q10. What is meant by renewal of a bill of exchange?
Solution:
When the drawee does not have enough funds to make the payment, he may approach the drawer and ask for an extension of time for the payment. If the drawer agrees, then a new bill is drawn which is known as renewal of bill. The new bill may include interest for the extended period.

Long Answer Type Question:

Q.1A bill of exchange must contain an unconditional promise to pay. Do you agree with a statement?

ANSWER: According to Negotiable Instrument Act, 1981, “A bill of exchange is defined as an instrument in writing, containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.”

Q.2A bill of exchange contains an unconditional promise to pay a certain sum of money on an agreed date to the drawer or the bearer by the drawee of the bill.

ANSWER: An unconditional order to pay: It is one of the important characteristic of a negotiable instrument. Unconditional order implies no condition should be attached by the acceptor regarding the payment. The conditions like, payment of bill (only in case of profit on sales), payment of bill (only if the prices of goods increase), etc. should not be attached with the bill. Moreover, the language of the bill should not be ambiguous.

Q.3Briefly explain the effects of dishonour and noting of a bill of exchange.

ANSWER:

When a bill is presented for payment and the acceptor fails to make the payment, the bill gets dishonoured. In this situation, liability of the acceptor is restored.

Entry in the books of drawer (if Noting charges are not paid):

Drawee	Dr.
	To Bills Receivable A/c
(Bill dishonoured)

Entry in the books of drawee:

Bills Payable A/c	Dr.
	To Drawer
(Bill dishonoured)

Noting charges are charged by the notary public for keeping a proof that the bill is dishonoured. The noting charges are paid by the holder of the bill but actually due on the drawee or the acceptor of the bill..

Notary public notes the below given facts.

1. Date and amount of bill

2. Reasons for dishonour

3. Amount of noting charges

Effect of Noting charges in the books of holder of bill (if Noting charges are paid):

Drawee	Dr.
	To Bills Receivable A/c
	To Cash A/c (Noting charges)
(Bill dishonoured and Noting charges paid)

In the books of drawee:

Bills Payable A/c	Dr.
Noting charges A/c	Dr.
	To Drawer
(Bill dishonoured and Noting charges due)

Q.4 Explain briefly the procedure of calculating the date of maturity of a bill of exchange? Give example.

ANSWER:

The procedure to calculate the date of maturity of a bill of exchange is given below.

1. Ascertain the date on which the bill will be honoured.

2. Add three days of grace to the above date.

For example, a bill with maturity period of one month is drawn on 1^st July and due date is 1^st September. Then add 3 days of grace and payment will be made on 4^th September.

Days of grace depend on the following situations:

1. Declared holidays: If the payment day happens to be a national holiday or Sunday, then the preceding day becomes the payment day.

For example,

1. If a bill is drawn on 12^th July and its due date is 12^th August, then after adding 3 days of grace the maturity day is 15^th August. However, as 15^th August is a national holiday; so, 14^th August becomes the payment day.
2. If a bill is drawn on 1^st May and the maturity period is of one month, then the due date is 1^st June. After adding 3 days of grace, the payment date becomes 4^th June. However, if 4^th June happens to be a Sunday, then the payment will be made on 3^rd June.

2. Undeclared holidays: If the payment day happens to be an emergency holiday, then the succeeding day becomes the payment day. For example, if a bill is drawn on 1^st May and is payable after 15 days, then, after adding 3 days of grace period, the due date becomes 18^th May. However, if a national strike is declared on 18^th May, then 19^th May becomes the due date of the bill.

Q.5 Distinguish between bill of exchange and promissory note.

ANSWER:

Basis of Difference	Bills of Exchange	Promissory Note
Order or promise	It is an order to pay.	It is a promise to pay.
Parties	There are three parties involved, drawer, acceptor and payee.	There are two parties involved, maker and payee.
Drawer	It is drawn by the creditor.	It is drawn by the debtors.
Acceptance	It needs acceptance by the drawee.	As it is prepared by promissor, so no acceptance is required.
Payee	Drawer and payee may be the same.	Promissor cannot be the payee.
Noting	In case of dishonour of the bill, the bill may get noted.	Noting is not necessary.
Liability	Drawer is not primarily liable.	Promissor is the primarily liable.

Q.6 Briefly explain the purpose and benefits of retiring a bill of exchange to the debtor and the creditor.

ANSWER:

When a holder receives the amount of a bill before the maturity date on request of the acceptor, it is called retirement of the bill of exchange. Holder of the bill may give discount for such earlier payment. This discount is termed as ‘rebate’.

Rebate is given by the holder to the acceptor of the bill on account of payment before the due date. Rebate is a loss for the holder of the bill; so, it is debited in the books of the holder when payment is received.

Cash A/c	Dr.
Rebate A/c	Dr.
	To Bills Receivable A/c
(Payment received and rebate allowed for early payment)

Acceptor of the bill gets rebate for the payment made before the due date. The rebate is a gain for the drawee; so, it is credited in the books of the drawee.

Bills Payable A/c	Dr.
	To Cash A/c
	To Rebate A/c
(Bill paid before the due date and rebate received for early payment)

Q.6Explain briefly the purpose and advantages of maintaining of a Bills Receivable Book.

ANSWER:

Bills Receivable Book is a special purpose book that is maintained to keep records of bills received from the debtors. It contains details such as acceptor’s name, date of bill, due date, amount, etc. for future references. It is totalled periodically and its balance is transferred to the debit side of the bills receivable account.

Benefits of Maintaining the Bill Receivable Book

1. Availability of information: All the information related to the bills receivable, such as amount, due date, etc., are recorded at one place and hence are easily accessible.

2. Possibility of fraud: Since all the bills are recorded at one place, possibility of fraud is minimised.

3. Responsibility: The person who maintains the bills receivable book will also be responsible for any errors or omissions. Therefore, higher degree of accountability and responsibility exists. Also, if any error is detected, then it can be fixed quickly.

4. Time efficient: Recording of bills receivable through the bills receivable book takes lesser time than that of journal entry. Therefore, it saves time of the accountant in recording numerous transactions of repetitive and routine nature.

Q.7 Briefly explain the benefits of maintaining a Bills Payable Book and state how is its posting is done in the ledger?

ANSWER:

A Bills Payable Book is a special purpose book, maintained to keep records of acceptance of bills, given to the creditors. It contains details of the amount, date of bill, due date, to whom acceptance is given, etc., for future references. It is totalled periodically and its balance is transferred to the credit side of the bills payable account.

Benefits of Maintaining Bills Payable Book

1. Availability of information: All the information related to the bills payable are recorded at one place, such as the amount, due date, etc.

2. Possibility of fraud: Since all the bills are recorded at one place, possibility of fraud is minimised.

3. Responsibility: All the transactions are recorded by the same person. Therefore, errors can be easily detected and rectified. This leads to a higher degree of responsibility and accountability of the accountant.