Question Bank
Every question in the M1 portion, indexed by type and where it is answered. Use the filter to drill one format at a time — all the True/False in one pass, all the MCQs in another, all the numericals in a third.
◆ What is actually in this course's question supply
| Source | What it contains | Weight you should give it |
|---|---|---|
| Faculty problem sheets Journal (7 Qs) · Trial Balance (3 Qs) · Depreciation (5 Qs) | 15 full-length numericals, 80+ individual transactions | Highest. These are the shapes your own faculty chose. All 15 are worked in full on the Solve pages. |
| Lecture decks L1 (31 slides) · L2 (17) · L3 (20) | 4 conceptual-testing scenarios · 2 classification drills (21 items) · 2 case studies · 1 journal illustration · 1 trial balance | High, especially the L1 scenarios and the L2 classify drill — both are directly examinable as printed. |
| Textbook Rama Gopal, Ch. 1, 2, 3, 4, 7 | 46 True/False · 27 MCQs · 20 descriptive · 10 interview · 1 match · illustrations | High for theory. Its True/False and MCQ banks are the most likely source of objective questions. |
| Past papers | None supplied. | — |
No past Class Test paper was provided, so nothing on this site is a prediction. What it is instead: every question your faculty, your decks and your textbook actually set, plus 153 more written in the same shapes.
True / False — 46 statements
| Set | Count | Source | Worked answers |
|---|---|---|---|
| Scope and meaning of accounting | 13 | Textbook pp. 17–18 | Unit 01 Solve — Topic 1 |
| GAAP, concepts and conventions | 17 | Textbook pp. 35–36 | Unit 01 Solve — Topic 2 |
| Depreciation | 16 | Textbook pp. 173–174 | Unit 03 Solve — Topic 1 |
⚠ The one pattern across all 46
Roughly a third are false, and most of the false ones work by over-stating a true rule. Watch for absolute words — always, never, cannot, indefinitely, all, both. "Going concern means the business continues indefinitely, beyond foreseeable future" is false only because of the word "indefinitely". "The same principle cannot be changed at all" is false only because of "at all". Read any statement containing an absolute twice.
Multiple choice — 27 questions
| Set | Count | Source | Worked answers |
|---|---|---|---|
| Accounting, book-keeping, branches | 11 | Textbook pp. 18–19 + extras | Unit 01 Solve — Topic 1 |
| Concepts and conventions | 5 | Textbook p. 36 | Unit 01 Solve — Topic 2 |
| The accounting equation | 2 | p. 18, p. 38 | Unit 02 Solve — Topic 1 |
| Accounts, posting, ledger | 10 | Textbook p. 87 + extras | Unit 02 Solve — Topic 1 |
| Depreciation methods | 12 | Textbook p. 174 + extras | Unit 03 Solve — Topic 1 |
◆ Five pairings that answer a third of all depreciation MCQs
Livestock / loose tools → Revaluation · Mines / quarries / oil wells → Depletion · Ready funds for replacement → Sinking Fund · Heavier P&L burden → Annuity · Accepted for Indian income tax → WDV
Descriptive and interview questions — 30
| Question | Unit | Marks range | Answered |
|---|---|---|---|
| Define accounting; explain its scope and three branches | 1 | 5 | Solve U1 · D1 |
| "Financial accounting gives a complete and exact picture" — examine | 1 | 7 | Solve U1 · D2 |
| Distinguish book-keeping from accounting | 1 | 5 | Solve U1 · D3 |
| The Roopchand case — was the banker right? evaluate his three arguments | 1 | 10 | Solve U1 · D4 |
| What is GAAP? Describe the characteristics accounting principles should have | 1 | 5 | Notes U1 · §3 |
| Explain accounting concepts and conventions; name three of each | 1 | 7 | Solve U1 · Topic 2 |
| Distinguish trade discount from cash discount | 1 | 5 | Solve U1 · 3.1 |
| Define capital and drawings; why is capital a liability? | 1 | 5 | Solve U1 · 3.2 |
| Define assets; distinguish fixed from current; the two orders of presentation | 1 | 5 | Solve U1 · 3.3 |
| What is the double entry system? Features, advantage, and its limitation | 2 | 5 | Solve U2 · 1.8 |
| Explain the accounting cycle and the purpose of each stage | 2 | 5 | Notes U2 · §1 |
| Classify accounts and state the rule for each; explain with examples | 2 | 5 | Solve U2 · Topic 1 |
| Distinguish journal from ledger on at least six bases | 2 | 5 | Notes U2 · §4 |
| State the five advantages of a ledger | 2 | 3 | Notes U2 · §4 |
| "A tallied trial balance proves the accuracy of the books" — discuss | 2 | 5 | Solve U2 · X1 |
| Why is the Cash Book both a journal and a ledger? | 2 | 3 | Notes U2 · §4 |
| "Depreciation is provided on fixed as well as current assets" — discuss | 3 | 5 | Solve U3 · D1 |
| Meaning of depreciation and the need for it (five factors) | 3 | 7 | Solve U3 · D2 |
| The three objectives of providing depreciation | 3 | 5 | Solve U3 · D3 |
| Name the depreciation methods; state merits and demerits | 3 | 10 | Solve U3 · D4 |
| The accounting procedure on sale or scrapping of an asset | 3 | 5 | Solve U3 · D5 |
| Can a firm change its depreciation method? What procedure? | 3 | 5 | Solve U3 · D6 |
| Basic factors for the calculation of depreciation | 3 | 5 | Solve U3 · D7 |
| Which method for a firm that must not disturb operations on replacement? | 3 | 5 | Solve U3 · D8 |
| Interview set — 5 short answers on depreciation | 3 | 2 each | Solve U3 · IV |
| Interview set — complete the sentences (8 concepts) | 1 | 1 each | Solve U1 · Fill |
Classification and concept-identification — 62 items
| Set | Items | Source | Worked |
|---|---|---|---|
| Conceptual Testing scenarios — land, garments, Harshpreet, pharma | 4 | L1 slides 26–29 | Solve U1 · CT1–CT4 |
| Name the concept — 12 new scenarios | 12 | Written for this site | Solve U1 · X1 |
| Match the statement to the concept | 7 | Textbook pp. 36–37 | Solve U1 · Match |
| "Identify" drill — car, machinery, painting | 9 | L2 slides 10–11 | Solve U1 · 4.1 |
| "Classify" drill — K. Yun, wholesale chemist | 12 | L2 slides 12–13 | Solve U1 · 4.2 |
| Capital vs revenue — 12 new items | 12 | Written for this site | Solve U1 · X1 |
| Personal / Real / Nominal classification | 12 | Textbook + extras | Solve U2 · 1.2 |
| Case studies — XYZ pens, ABC bakery | 2 | L2 slides 14–17 | Solve U1 · CS1–CS2 |
Journal entries — 7 faculty problems + 8 extras + a 90-wording phrase-book
| Problem | Transactions | What it tests | Worked |
|---|---|---|---|
| Faculty Q1 — books of Sachin | 10 | Loan given vs taken · cheque given vs received · interest received from a person · drawings | Solve U2 · J-Q1 |
| Faculty Q2 — Mr Rahul | 13 | "For cash from X" · "invoiced for cash" · cash vs goods drawings · computer and machinery not Purchases | Solve U2 · J-Q2 |
| Faculty Q3 — Mr Arun | 7 | Trade discount on purchases and on returns · cash discount | Solve U2 · J-Q3 |
| Faculty Q4 — X's business | 10 | Compound opening entry · returns both ways · drawings, fire, free samples | Solve U2 · J-Q4 |
| Faculty Q5 — Valluvar, textiles | 10 | Every banking mode · contra vs non-contra · two amounts carried forward | Solve U2 · J-Q5 |
| Faculty Q6 — Mala's balances | 1 compound | Opening entry with capital as the balancing figure | Solve U2 · J-Q6 |
| Faculty Q7 — settlements | 7 | Full settlement both directions · insolvency · bad debt recovered | Solve U2 · J-Q7 |
| L3 illustration — Shyam Enterprises | 5 (4 entries) | "Receives order" → no entry | Notes U2 · §3 |
| Extra problems P1–P6 | 50+ | Stacked discounts · goods out five ways · advance vs expense · prepaid rent | Practice · Set 1 |
| Extra drills X1–X8 | 8 | In whose books · spot the six errors · contra or not | Solve U2 · Extras |
| The phrase-book | 90 wordings | Every exam phrasing mapped to its entry | Decision Engine |
Ledger and trial balance — 3 faculty problems + 9 more
| Problem | What it tests | Answer | Worked |
|---|---|---|---|
| Faculty TB Q1 — 14 balances | Returns both ways · bank overdraft | Tallies at ₹2,50,000 | Solve U2 · TB-Q1 |
| Faculty TB Q2 — 17 balances | Does not tally — Suspense A/c required | ₹1,12,700 after a ₹600 Suspense Dr | Solve U2 · TB-Q2 |
| Faculty TB Q3 — 21 balances | Both carriages Dr · "Received" items · Deposit with SBI vs Bank Loan | Tallies at ₹3,00,764 | Solve U2 · TB-Q3 |
| Textbook Illustration 6 — correct the TB | Seven items in the wrong column, totals still right | ₹76,830 | Solve U2 · TB-Q4 |
| L3 — XYZ Associates TB | Reading a real TB: Provision for Depreciation, Share Premium, P&L b/f | ₹30,47,000 | Notes U2 · §5 |
| Shyam Enterprises — post and balance | To/By convention · an account that closes at nil | Cash ₹700 Dr | Solve U2 · 4.1 |
| Textbook Illustration 4 — six tricky postings | Outstanding wages paid · asset drawn · loss on furniture sale · bad debt recovered | Cash ₹7,500 Dr | Solve U2 · 4.2 |
| Extra P7 — post and balance | Return then discount, in that order | Cash ₹41,700 Dr | Practice · P7 |
| Extra P8 — 24 balances | Overdraft and bank balance coexisting | ₹7,98,100 | Practice · P8 |
| Extra P9 — find the error | Difference ÷ 2 · divisibility by 9 | ₹7,200 misplaced | Practice · P9 |
Depreciation numericals — 5 faculty problems + 12 more
| Problem | Method | What it tests | Key answer | Worked |
|---|---|---|---|---|
| Faculty Q1 — ZEE Ltd | SLM | Reconditioning capitalised · residual value | ₹12,000 per year | Solve U3 · D-Q1 |
| Faculty Q2 — 15% WDV | WDV | Work backwards from a given loss to the sale price | ₹3,750 · ₹7,437.50 · ₹7,321.88 | Solve U3 · D-Q2 |
| Faculty Q3 — M/s P & Q | WDV | One-fourth disposed · new machine the same day | ₹2,000 · ₹3,800 · ₹3,527.50 | Solve U3 · D-Q3 |
| Faculty Q4 — Sharma & Co | SLM | Sale at exactly book value — nil profit or loss | ₹17,500 · ₹20,000 · ₹17,500 | Solve U3 · D-Q4 |
| Faculty Q5 — Bhushan & Co | SLM | Every trap at once: installation, mid-year buy and sell, same-day purchase and sale, one loss and one profit | ₹6,000 · ₹7,000 · ₹10,500 · ₹10,000 | Solve U3 · D-Q5 |
| Textbook Illustration 1 | Both | SLM and WDV on identical facts, side by side | 5-yr BV: ₹33,250 vs ₹37,989 | Solve U3 · X4, X2 |
| Textbook Illustration 2 — Neha & Co | SLM | The model Machinery Account layout, one third obsolete | Loss ₹5,250 | Solve U3 · 4.1 |
| Disposal account in full | — | Provision method · profit as a balancing figure | Profit ₹2,000 | Solve U3 · 4.3 |
| Extras — SLM set | SLM | Rate from life and scrap · capitalise or not · count the months | 4 problems | Solve U3 · Topic 2 |
| Extras — WDV set | WDV | SLM vs WDV comparison · find the rate · the base error · fractional sale | 6 problems | Solve U3 · Topic 3 |
| Extra P10–P13 | Both | Two machines with a sale · WDV with an addition · fractional sale under SLM · advise on a method | 4 problems | Practice · Set 3 |
A drilling plan, by format
- All 46 True/False in one sitting. Fast, and it surfaces exactly which concepts you half-know. Anything you got wrong, read that concept's row in the concept table.
- All 27 MCQs next. Same purpose, and the depreciation-method pairings are pure recall.
- The 62 classification items. These are the highest-density marks in Unit 1 and they go fast once the three pairs are automatic.
- The 7 faculty journal problems, closed-book, timed. This is the single most valuable hour on the site.
- The 3 trial-balance problems and the 5 depreciation problems, closed-book. Watch the clock — a depreciation problem with a sale should take twelve minutes, not twenty-five.
- The 24 extra problems in Practice, to confirm it transfers to questions you have not seen.
- The 30 descriptive questions last, skim-reading the model answers rather than writing them out. They are recall, and recall decays fastest — so do them closest to the test.