IAB_MODEL_QUESTION_PAPER_AND_ANSWER_KEY_OLD

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IAB_MODEL_QUESTION_PAPER_AND_ANSWER_KEY_OLD Powered By Docstoc
					                                 G-TEC COMPUTER EDUCATION
                                (A Division of Glosoft Technologies PVT.Ltd)
                                          ISO 9001-2008 CERTIFIED
                                 Model Question Paper & Answer Key
                               Diploma in Indian and Foreign Accounting
                                                (DIFA)

  Exam Code : GDIFA/IAB/X/OLD/280810                                                 Marks: 100
  Time: 3 hours
                                           PART-I
                                    MANUAL ACCOUNTING

  I.   Journalise the following ten questions. Each carries 1 Mark                   (10*1=10)
          1.    Gopi settled his a/c of Rs 700 and was allowed 5% discount.
          2.    Received a cheque Rs 1000 from sheela and banked immediately.
          3.    Write off bad debts Rs 500.
          4.
          5.    Commission received in advance Rs 1000.
          6.    Transfer the profit Rs 30000 to the Ajay’s Capital A/c.
          7.    Computer worth Rs 30000 lost by theft.
          8.    Cash purchase Rs 10000.
          9.    Interest paid Rs 300.
          10.   The owner of the company withdraws Rs 500 for his personal use.
          11.    Bought Stationary Rs 800 to Computer mart.

 II.   Answer any five from the following questions. Each carries 2 Marks            (5*2= 10)
          1.    What are Bad debts?
          2.    What is a Journal?
          3.    What are Ledgers?
          4.    What do you mean by Book Keeping?
          5.    Explain the rules for Debit and Credit?
          6.    What are Outstanding Expenses?

                                                 PART-II
                                                 TALLY
III.   Fill in the Blanks. Each carries 1 mark                                       (10*1=10)
          1.  _________ are used for recording day to day transactions.
          2.  Brokerage is created under _________ group.
          3.   _________ is a non-accounting voucher whose entry does not affect your account
              at all.
          4.  Expansion of LIFO is_________ .
          5.  _________ key is used for journal voucher .
          6.  _________ utility is required to convert the data of tally older version into tally 9
              format.
          7.  _________ is the right place to have a look at all the vouchers entered till date.
          8.  Tax received on sales is called __________.
          9.  To display the entire purchase voucher in________ register?
          10. Alt+C is used for _______.


       _________________________________________________________________________
       GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                           1
                                  G-TEC COMPUTER EDUCATION
                                 (A Division of Glosoft Technologies PVT.Ltd)
                                           ISO 9001-2008 CERTIFIED
                                 Model Question Paper & Answer Key
                               Diploma in Indian and Foreign Accounting
                                                (DIFA)

  IV.   Answer the following questions. Each question carries 2.5 marks             (2*2.5=5)
           1.   a) Explain the term ‘current asset’ and its subgroup.
                                          Or
                b) Type of inventory vouchers and its shortcuts.
           2.   a) How to create/customize a voucher?
                                          Or
                b) What are the uses of track additional cost of purchase?

                                               PART-III
                                              PEACHTREE
   V.   Answer the following questions. Each carries 1 mark                         (5*1=5)
           1.   To edit the vendor ID ________ option select from edit menu.
           2.   Reference for the general journal entry transaction is up to__________ characters.
           3.   Sales tax code is ________.
           4.   Cash sales enter into __________ voucher.
           5.   ________ option can translate information from other application.

 VI.    Match the following. Each carries 1 mark                                    (1*5=5)
           1.   Finished goods            1. Events
           2.   Action item               2. Job cost
           3.   Color scheme              3. Customer
           4.   Phases                    4. Bill of materials
           5.   Finance charge            5. General Tab

VII.    Answer the following questions. Each carries 2.5 marks                      (2*2.5=5)
           1.   List the different types of general ledger report?
           2.   What is tracking number and its steps?

                                                     PART-IV
                                                     WINGS
VIII.   Fill in the blanks. Each carries 1 mark                                     ( 5 * 1 = 5)
           1.   MRN Stands for ________.
           2.   ________ transactions involves receipt and payment through cheque.
           3.   ________ option allows we to set the foreign exchange rate.
           4.   A ________ is a group of products.
           5.   Wings track goods that are used for _________.

 IX.    Answer any two of the following questions. Each carries 2 marks.            ( 5* 2=10)
           1.   Explain the use of ‘copy of’ button.
           2.   Define the term Bank reconciliation.
           3.   What is PDC? Explain.
           4.   How can we apply the sales tax?

        _________________________________________________________________________
        GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                            2
                                 G-TEC COMPUTER EDUCATION
                                (A Division of Glosoft Technologies PVT.Ltd)
                                          ISO 9001-2008 CERTIFIED
                                 Model Question Paper & Answer Key
                               Diploma in Indian and Foreign Accounting
                                                (DIFA)

           5.    How to convert a sales order to sales?

                                                  PART-V
                                              DACEASY
  X.    Fill in the blanks. Each carries 1 Mark                                      (5*1=5)
           1.    The account type can be general or__________.
           2.    To change the product code__________ option select from option menu.
           3.    To create a multi-level inventory structure, add a _________for each primary
                 product you sell.
           4.    __________shortcut is used for delete a detail list from master item.
           5.    _________ cash flow group is normally composed of capital.

 XI.    Answer the following questions. Each carries two marks                       (5*2 =10)
           1.    Explain the chart of accounts.
           2.    Define filling backorders.
           3.    How to entering the controller password?
           4.    Explain receivable ledger.
           5.    What are the options in Easy setup?

                                                PART VI
                                                 LINUX
XII.    Fill in the blanks. Each carries one mark                                    (5*1=5)
           1.    To display first few lines of a file _________ command is used.
           2.    _________ is a command interpreter of the operation system.
           3.    The expansion of GREP is _________.
           4.    _________ is used to send message to all the users.
           5.    _________ command is used for searching a particular file .

XIII.   Choose the most appropriate. Each carries one mark                           (5*1=5)
           (touch, GIMP, mv, open office draw ,etc, ls , paste, comm, cat,777)
           6.    _________ application is used to draw charts, graphs etc..
           7.    _______ contains system configuration files.
           8.    The most popular graphics software in Linux is ______ .
           9.    _________ command to display all records of a file in the current directory.
           10.   ______________ command to create an empty file.




        _________________________________________________________________________
        GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                            3
                                 G-TEC COMPUTER EDUCATION
                                (A Division of Glosoft Technologies PVT.Ltd)
                                          ISO 9001-2008 CERTIFIED
                                 Model Question Paper & Answer Key
                               Diploma in Indian and Foreign Accounting
                                                (DIFA)

                                               PART VII
                                              MS OFFICE
XIV.     Fill in the blanks. Each carries one mark                             (5*1=5)
            11.   ENIAC stands for ___________.
            12.   Combination of digital and analog computer is called _________.
            13.   In Excel, to get the current date and time_________ function is used.
            14.    __________is the shortcut key of save as.
            15.   Default alignment of Excel is _________.

XV.      State whether true or false. Each carries one mark.                   ( 5 * 1 = 5)
            16.   Slides are individual pages of the presentation.
            17.   Interpreter is used to convert assembly language in to machine language
            18.   Create a Bookmark to assign a name to a specific point in a document.
            19.   The Shortcut key for center alignment is Ctrl+C.
            20.   Change case option is applicable only in Ms Word.



                                              ANSWERS

       I.   Journalise the following
               1. Bank A/c                            Dr         665
                   Discount allowed A/c               Dr          35
                      To Gopi                                                  700
               2. Bank A/c                            Dr         50
                   To Sheela                                                   50
               3. Bad debts A/c                       Dr         500
                     To Sundry debtors                                         500
               4. Commission received A/c             Dr         1000
                      To Commission received in advance                                1000
               5. Profit & Loss A/c                   Dr         30000
                      To Ajay’s Capital A/c                                            30000
               6. Loss by theft A/c                   Dr         30000
                     To Computer A/c                                           30000
               7. Purchase A/c                        Dr         10000
                     To Cash A/c                                               10000
               8. Interest A/c                        Dr          300
                     To Cash A/c                                               300
               9. Drawings A/c                        Dr         500
                     To Cash A/c                                               500
               10. Stationary A/c                     Dr         800
                   To Computer Mart A/c                                                800

       _________________________________________________________________________
       GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                           4
                            G-TEC COMPUTER EDUCATION
                           (A Division of Glosoft Technologies PVT.Ltd)
                                     ISO 9001-2008 CERTIFIED
                            Model Question Paper & Answer Key
                          Diploma in Indian and Foreign Accounting
                                           (DIFA)

 II.   Answer the following questions
          1. Some debts due to the organization are irrecoverable for reasons such as the
             insolvency of the debtors, willful non payment by the debtor and so on. Debts
             which are concluded as irrecoverable are known as bad debts.
          2. Journal-A journal is a book in which business transaction are entered in
             chronological order. A record of a single business transaction is called journal
             entry.
          3. Ledger-A ledger is the book in which all the accounts are maintained. The chart
             of accounts of the business shows the categorization and grouping of its
             accounts.
          4. Book-keeping is an art of recording business transactions in a systematic
             manner.
          5. Accounts are classified into three types
                  i. Personal a/c
                 ii. Real a/c
                iii. Nominal a/c

              Its rule
                                      Debit                                Credit
        Personal                   the receiver                                     the giver
        Real                      what comes in                           what goes out
        Nominal               all expenses and losses                        all incomes and
    gains

           6. These are the expenses that have been incurred during a particular trading
                period, but not paid by the end of that period.
III.   Fill in the blanks
           1. Vouchers
           2. Indirect expenses
           3. Memo voucher
           4. Last in first out
           5. F7
           6. Data Migration
           7. Daybook
           8. Output Vat
           9. Purchase book
           10. Secondary creation
IV.    Answer the following question
           1. A) Current asset refers to cash or other temporarily assets which can be
                converted into cash in a short period.

  _________________________________________________________________________
  GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                      5
                               G-TEC COMPUTER EDUCATION
                              (A Division of Glosoft Technologies PVT.Ltd)
                                        ISO 9001-2008 CERTIFIED
                               Model Question Paper & Answer Key
                             Diploma in Indian and Foreign Accounting
                                              (DIFA)

                     i.   Bank account
                    ii.   Cash in hand
                   iii.   Deposits
                   iv.    Loans & Advances
                    v.    Stock in hand
                   vi.    Sundry debtors

             B) Pure inventory vouchers are used to record the receipt and issue of items/ stocks/
             goods, transfer of stock between go downs, physical stock adjustments.
                   vii. Receipt note voucher (Alt+F9)
                  viii. Delivery note voucher (Alt+F8)
                    ix. Rejection in voucher (Ctrl+F6)
                     x. Rejection out voucher (Alt +F6)
                    xi. Stock journal voucher (Alt + f7)
                   xii. Physical stock voucher (Alt + F10)
                  xiii. Purchase order voucher (Alt + F4)
                  xiv. Sales order voucher (Alt + F5)
             2. A)We cannot create a completely new type of voucher but we can customize the
                existing voucher formats.

                  Steps
                  Gateway of tally Accounts info  Voucher types  create  type the name
                  for new voucher type to be created  select the type of voucher from the list
                  of predefined voucher  Then select type of voucher numbering, narration etc.
                  then accept.

             B) We can specify what additional costs were incurred in moving goods into the
             location or for producing them. Though these costs are strictly accounting heads,
             they do not get posted in the relevant nominal ledger accounts but add to the cost of
             the item. In the target location, you can specify additional costs incurred without
             actually affecting accounting at all. To activate the option in F11 features. After
             entering the amount for an item, the additional cost details entry box pops up. You
             may specify additional costs for transferring or roducing the item and % of the total
             amount.

V.     Fill in the blanks
              1. Change ID
              2. 15
              3. 23100
              4. Receipt
              5. Import/Export
VI.    Match the following
      _________________________________________________________________________
      GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                          6
                                   G-TEC COMPUTER EDUCATION
                                  (A Division of Glosoft Technologies PVT.Ltd)
                                            ISO 9001-2008 CERTIFIED
                                   Model Question Paper & Answer Key
                                 Diploma in Indian and Foreign Accounting
                                                  (DIFA)

                 1. Bill of Materials
                 2. Events
                 3. General tab
                 4. Job cost
                 5. Customer
VII.     Answer the following questions
                 1. General ledger reports allow allow you to list your chart of accounts, General
                    ledger, General journal, and trail balances.
                       I.   Chart of Accounts-Lists each general ledger account number, its
                            description, and the account type.
                      II.   General Journal-Lists transactions in journal format.
                     III.   General Ledger-Shows all transactions in each account for the current
                            period.
                     IV.    General Ledger Trial Balance-Shows each account and its balance as of
                            the date or period you select.
                      V.    Working Trial Balance-Use this as a worksheet to make adjustments to
                            account balances.
                2. Tracking number is used the time of record receipt of new stock in case the bill
                    not received. It is entered into purchase/receiving inventory book. The book can
                    be later adjusted after receiving the bill. If not yet received a vendor invoice (bill)
                    for the purchasing, select the waiting on bill from vendor check box. Once the
                    vendor send the bill edit the invoice, clear the waiting on bill from vendor check
                    box, enter the invoice number and post.
VIII.    Fill in the blanks
                 1. Material Receipt Note
                 2. Bank Transactions
                 3. Exchange Rates
                 4. Batch
                 5. Internal Consumption
 IX.     Answer the following questions
                 1. Wings provides a feature using, which you can copy, contents of existing
                    vouchers to new vouchers to save time. This will help you in entering
                    transactions, which are of repetitive type with little efforts and time. Open the
                    new voucher and click copy from button. Wings will prompt the paste from
                    window.
                 2. Accounting entries for bank receipts and payments are generally recorded on the
                    date on which cheques are received/issued. The actual receipt into or payment
                    from the bank account may take place at a future date. Further, there may be
                    some entries, which may be appearing in the bank passbook but may not
        _________________________________________________________________________
        GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                            7
                               G-TEC COMPUTER EDUCATION
                              (A Division of Glosoft Technologies PVT.Ltd)
                                        ISO 9001-2008 CERTIFIED
                               Model Question Paper & Answer Key
                             Diploma in Indian and Foreign Accounting
                                              (DIFA)

                  appearing in the bankbook. Examples are bank charges, deposits by debtors
                  directly into the bank account, interest on overdraft etc.
              3. Wings provides we with the facility to manage post-dated cheques throughout
                  their life cycle. Post dated cheques management keeps track of PDCs issued,
                  received and cleared. PDC received form is used to record the PDCs issued,
                  received from the customers. The PDC issued form is used to record the detail of
                  PDCs issued to the vendors.
              4. Sale Tax is an important statutory and financial consideration for your business.
                  Sale tax is levied on the product that is either bought or sold (at the point of
                  sale). Wings handles sales tax accounting in a very efficient manner. It helps you
                  to fulfil the legal formalities and also ensures proper collection, payment and
                  accounting of sales tax.
              5. Conversion of order to sales.
                        i. Entry  sales  sales
                       ii. Click on edit
                     iii. Click on copy from (ctrl + c)
                      iv. On paste from window select voucher type “sales order”
                       v. Select voucher no(order voucher)
                      vi. Click paste header info button to paste sales and party a/c
                     vii. Click on paste button and close window.
                    viii. Save to accept the sales entry after any alteration required.
 X.    Fill in the blanks
              1. Detail
              2. Change code
              3. Master item
              4. Shift + F6
              5. Financial
XI.    Answer the following questions
              1. DacEasy use multilevel chart of accounts we can use to easily departmentalize,
                  or categories, your income and expenses. There are two types- general and
                  detail. To create a new account set these options.
                        i. Account number-This can be up to 10 characters.
                       ii. Account name- This can be up to 25 characters.
                     iii. Account type- it is general or detail
                      iv. Account level-up to 5 levels.
                       v. Parent-The general a/c one level above an account.
                      vi. Reconcilable-Bank a/c and cash a/c that we reconcile.
                     vii. Balance-The current balance in the account.


      _________________________________________________________________________
      GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                          8
                              G-TEC COMPUTER EDUCATION
                             (A Division of Glosoft Technologies PVT.Ltd)
                                       ISO 9001-2008 CERTIFIED
                              Model Question Paper & Answer Key
                            Diploma in Indian and Foreign Accounting
                                             (DIFA)

            2. When we enter invoices, DacEasy creates a backorder each time a normal type-
                 product is ordered and the ordered quantity is greater than the on-hand quantity.
                 If you wish to track backorders, select the track customer backorders check box
            3. If we want to activate user access rights to the program on the system preference
                 dialog box, we must first add a controller password. Select Default from edit
                 menu, and then select passwords. Enter a password. Then retype the password.
                 Click OK to save the password.
            4. Use the receivable ledger to update customer balances. We can enter all
                 customer activity in this book. It is more common to enter normal customer
                 activity in the billing module and use the receivable ledger for adjusting entries.
            5. The options are
                       i. Add company information
                      ii. Set up accounting period
                    iii. Add account balances
                     iv. Add vendors
                      v. Add customers
                     vi. Add products
                    vii. Add services
                   viii. Exit
XII.    Fill in the blanks
                 1.       Head
                 2.       Shell
                 3.       Global Regular Expression Printer
                 4.       Wall
                 5.       Find
  XIII.          Choose the correct answers.
                 6.       Open Office Draw
                 7.       Etc
                 8.       Gimp
                 9.       Ls
                 10.      Touch
  XIV. Fill in the blanks
                 11.      Electronic Numeric Integrator And Calculator
                 12.      Hybrid
                 13.      Now()
                 14.      F12
                 15.      General
   XV. True or False
                 16.      True
   _________________________________________________________________________
   GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                       9
                        G-TEC COMPUTER EDUCATION
                       (A Division of Glosoft Technologies PVT.Ltd)
                                 ISO 9001-2008 CERTIFIED
                     Model Question Paper & Answer Key
                   Diploma in Indian and Foreign Accounting
                                    (DIFA)

         17.   False
         18.   True
         19.   False
         20.   True




_________________________________________________________________________
GDIFA/IAB/X/OLD/280810                              www.gteceducation.com
                                    10

				
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