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Important Questions

Financial Statements (Without Adjustments) — Important Questions

NIOS · Class 10 · Accountancy

64 important questions from Financial Statements (Without Adjustments) for NIOS Class 10 Accountancy, with answers. Written for the board exams 2027.

64 questions34 flashcards3 formulas & key relations5 concepts

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64 Questions·
multiple choicetrue falsemultiple correct

Important Questions from Financial Statements (Without Adjustments)

1multiple choice
3 marks

M/s Bhanu Bros had opening stock of ₹32,000, purchases of ₹1,65,000, freight of ₹4,000, power of ₹6,500, custom duty of ₹5,500, sales of ₹80,000, and closing stock of ₹30,000. What was the gross loss?

Show answer

₹1,03,000

Total debit side = 32,000 + 1,65,000 + 4,000 + 6,500 + 5,500 = ₹2,13,000. Credit side = 80,000 + 30,000 = ₹1,10,000. Gross loss = 2,13,000 − 1,10,000 = ₹1,03,000.

2multiple choice
3 marks

M/s Sahil Bros had gross profit of ₹97,000, discount allowed of ₹2,000, printing and stationery of ₹2,000, office rent of ₹5,000, repairs of ₹2,400, insurance premium of ₹5,100, telephone charges of ₹1,000, discount received of ₹3,000, and interest earned of ₹5,000. What was the net profit?

Show answer

₹87,500

Indirect expenses = 2,000 + 2,000 + 5,000 + 2,400 + 5,100 + 1,000 = ₹17,500. Indirect income = 3,000 + 5,000 = ₹8,000. Net profit = 97,000 + 8,000 − 17,500 = ₹87,500.

3multiple choice
3 marks

M/s Sarthak Traders had gross profit of ₹43,000, discount allowed of ₹7,000, salaries of ₹45,000, interest paid on loan of ₹13,000, postage of ₹2,400, discount received of ₹6,000, commission received of ₹1,000, and sales expenses of ₹10,000. What was the net loss?

Show answer

₹27,400

Indirect expenses = 7,000 + 45,000 + 13,000 + 2,400 + 10,000 = ₹77,400. Indirect income = 6,000 + 1,000 = ₹7,000. Net result = 43,000 + 7,000 − 77,400 = −₹27,400, so net loss is ₹27,400.

4multiple choice
3 marks

A business has total sales of ₹72,000 and sales returns of ₹1,500. Opening stock is ₹6,500, purchases are ₹45,000, purchase returns are ₹500, carriage is ₹1,200, wages are ₹4,800, fuel and power are ₹3,200, and closing stock is ₹8,000. What is the net sales amount used in the Trading Account?

Show answer

₹70,500

Net sales = Total sales − Sales returns = 72,000 − 1,500 = ₹70,500.

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Frequently Asked Questions

What are the important topics in Financial Statements (Without Adjustments) for NIOS Class 10 Accountancy?
Key topics in Financial Statements (Without Adjustments) include Meaning and Classification of Financial Statements, Trading Account, Profit and Loss Account, Balance Sheet or Position Statement. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How many important questions are there in Financial Statements (Without Adjustments)?
Super Tutor has 64 practice questions for Financial Statements (Without Adjustments), including multiple choice, true false, multiple correct questions. A sample with answers is on this page.

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