Guess paper Accounting Class 11 is up-to-date and the most important questions are given according to Punjab boards. These guess papers 2024 help you to get the highest marks in your papers. Punjab Board guess paper 2024 Accounting is relevant to all chapters and we have tried to put all necessary questions that help students to score more than seventy percent.

11th class Principle of Accounting guess paper 2024 is available and you may ask if you need any assistance from our qualified team. Accounting 1st Year Guess Papers 2024 are for helping material that may enhance the chances of the students to get more marks in less time.

Guess Paper Accounting Class 11 2024

Chapter 1

  1. What is the difference between bookkeeping and accounting?
  2. Define the terms capital or owner equity and drawing.
  3. Define cash discount and trade discount.
  4. Define the terms, credit purchase, purchase, credit sale, and sale.
  5. Write down three main branches of accounting.
  6. What are the terms return outwards and return inwards?
  7. Define these:
  • Separate entity concept
  • Going concern concept
  • Cost concept
  • Matching concept
  • Realization concept
  • Dual aspect concept
  • Money measurement concept
  • Conservatism and materiality

Chapter 2

  1. What is a monetary event?
  2. Define qualitative change.
  3. Define the term equity.
  4. What are the three basic elements of the accounting equation?
  5. The liability of a business is Rs. 1,50,000 which is 0.25 of proprietorship. What will be the amount of assets and capital?

Numerical Problems

Illustration: 2

Problem: 3, 5, 6

Chapter 3

  1. Discuss the rules of debit and credit for personal, real, and nominal accounts or elements of account (revenue, expense, capital, asset, liability).
  2. Define account.

Chapter 4

  1. Define journal or why the journal is called a book of original entries.
  2. Define entry.
  3. Define single and compound entry.
  4. Define journalizing and narration.

Numerical Problems

Problem: 10, 11, 12

Chapter 5

  1. Define ledger or why ledger is called the king of all books of accounts.
  2. Define, posting, balance, and balancing.
  3. What are the normal balances of assets, liabilities, income, expenses, and owner’s equity?
  4. Explain the term zero balance.
  5. What are the different stages of the accounting cycle?

Numerical Problems

Illustration: 4

Problems: 3, 4

Chapter 6

  1. Define bill of exchange.
  2. Define trade bill and accommodation bill.
  3. Define the term tenor, maturity, rebate, and day of grace.
  4. What do you mean by the endorsement of the bill and pass a journal entry of endorsement?
  5. What is meant by retiring a bill under rebate pass journal entry of rebate?

Numerical Problems

Illustration: 2, 4, 8, 10, 11, 14

Problems: 5, 6, 12, 14, 15, 17, 9, 21

Chapter 7

  1. Define debit note and credit note.

Numerical Problems

Problem: 5

Chapter 8

  1. Define bank reconciliation statement.
  2. Distinguish between pay-in-slip and chequebook.
  3. Write any three causes of disagreement between the balances as per cash book and pass book.
  4. Define contra entry.

Numerical Problems

Illustrations: 3, 4, 7, 9, 11

Problems: 4, 5, 6, 13, 14, 15, 18, 19, 20, 21

Chapter 9

  1. Define opening entry and closing entry.
  2. Define trading account.
  3. Define balance sheet.
  4. Define real assets and their types.
  5. Define contingent liability.
  6. Define direct expenses and indirect expenses with examples.
  7. What does adjusting entries mean?
  8. Define cash system and accrual or mercantile system of accounting.
  9. Define outstanding expense and write down adjusting entry.
  10. Define prepaid expense and write down adjusting entry.
  11. Write down adjusting entry on interest on capital and drawing.
  12. Define unearned revenue and accrued revenue and also pass the journal entry.
  13. Explain the term allowance for uncollectible / provision of doubtful debts.
  14. Define debt.
  15. Define depreciation and pass journal entry.
  16. What is bad debt recovery?
  17. Define normal loss and abnormal loss.
  18. What will be the adjusting entry for provision for doubtful debts?

Numerical Problems

Illustrations: 3, 8

Problems: 8, 9, 13, 14, 15, 16

Chapter 10

  1. Define capital expenditure and revenue expenditure with three examples.
  2. Define deferred revenue expenditure.
  3. What are revenue receipt and capital receipt with two examples?
  4. Define capital profit and capital loss with examples.
  5. Write accounting treatment of capital and revenue profit.

Numerical Problems

Illustration: 1

Problems: 3, 6, 8, 9, 14

Chapter 11

  1. Define error of omission and commission.
  2. Define compensating errors.
  3. Define suspense account.
  4. Which types of error can be considered as trial balance?

Numerical Problems

Illustrations: 5, 7, 8, 9

Problems: 8, 9, 10, 11, 12, 13, 14

Guess Papers for Class 11

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Schemes of Class 11 2024

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