How is CHSE Odisha Higher Secondary Elective Accountancy examined?

Accountancy is the first compulsory elective in the Commerce stream and carries 200 marks (100 Year-1 college + 100 Year-2 Council AHSE). Theory papers use mixed Group A objective bits, short answers, and long numerical/theory questions (about 3 hours). Year-2 syllabus Unit V is Project Work with Viva; under the commerce project scheme this is commonly Theory 80 + Project & Viva 20. Confirm the session circular on chseodisha.nic.in.

What are the Year-1 and Year-2 Accountancy units?

Year 1 (Paper-I): Introduction to Accounting; Journal, Ledger and Trial Balance; Bills of Exchange and Computerized Accounting; Rectification of Errors and Bank Reconciliation Statement. Year 2 (Paper-II): Financial Statements of Sole Trade and NPOs; Depreciation and Incomplete Records; Partnership; Company Accounts; Project Work with Viva.

Is this practice bank the same format as the official CHSE paper?

No. Official papers mix objective and constructed-response numerical/theory items, and Year 2 includes project/viva evidence. This bank is an English-language multiple-choice study adaptation for concept and calculation revision—not an official blueprint replica or project/viva substitute.

Does Accountancy include project and viva?

Yes for Year 2. The commerce Courses of Studies list Unit V Project Work with Viva (vouchers, BRS, comprehensive sole-trade project with charts). MCQs can support related knowledge but cannot replace project documentation or viva performance.

What is the pass mark?

CHSE Odisha AHSE practice commonly requires about 30% as the minimum pass floor in theory; project/viva contributes to the Year-2 subject total under the project scheme. Confirm the current AHSE notification.

What does the exam cost?

Examination charges are included in the CHSE Odisha AHSE fee structure notified for the session and collected through the affiliated college/H.S. school—no separate public per-elective marketplace fee.

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100+ Free CHSE Odisha Elective Accountancy Practice Questions

Council of Higher Secondary Education, Odisha (CHSE Odisha) Higher Secondary (+2) Elective Accountancy (Commerce stream, 1st elective compulsory) practice questions are available now; exam metadata is being verified.

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2026 Statistics

Key Facts: CHSE Odisha Elective Accountancy Exam

200 marks

Elective Accountancy total across Year 1 (100) + Year 2 (100)

CHSE Odisha Commerce Courses of Studies

1st elective

Accountancy is a compulsory first elective in the Commerce stream scheme

CHSE Odisha commerce scheme of studies

Y2 Project+Viva

Paper-II Unit V Project Work with Viva (commonly Theory 80 + Project/Viva 20)

CHSE Odisha commerce_2016 Accountancy Paper-II

~3 hours

Typical duration of each 100-mark theory paper component

CHSE Odisha commerce question pattern

English MCQ adaptation

This free local bank is not the official written/project format

OpenExamPrep practice policy

CHSE Odisha Elective Accountancy is a +2 Commerce compulsory elective (200 marks: 100+100). Year-2 AHSE commonly includes Project Work with Viva alongside mixed theory—not a pure MCQ board paper. This free 2026 bank is a calculation-heavy English MCQ study adaptation aligned to Paper-I and Paper-II units from commerce_2016.

Sample CHSE Odisha Elective Accountancy Practice Questions

Try these sample questions to test your CHSE Odisha Elective Accountancy exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Accounting is often called the language of business primarily because it:

A.Communicates financial information to users for decision-making

B.Replaces the need for legal contracts

C.Guarantees future profits of every firm

D.Records only cash transactions by law

Explanation: Accounting records, classifies, summarises and communicates financial information so users can take decisions—hence language of business.

2Book-keeping differs from accounting mainly in that book-keeping:

A.Is primarily recording of transactions, while accounting also summarises, analyses and interprets

B.Includes only preparation of final accounts

C.Is broader than accountancy and sets IFRS

D.Deals only with cost control techniques

Explanation: Book-keeping is systematic recording. Accounting builds on those records to classify, summarise, analyse and interpret.

3A firm purchases machinery for ₹50,000 on credit. The dual-aspect effect on the accounting equation is:

A.Assets +₹50,000 and Liabilities +₹50,000

B.Assets +₹50,000 and Capital +₹50,000

C.Assets −₹50,000 and Liabilities −₹50,000

D.Only Assets +₹50,000 with no other change

Explanation: Machinery (asset) and creditors (liability) each rise by ₹50,000, so Assets = Liabilities + Capital stays balanced.

4Opening capital ₹2,00,000; additional capital ₹40,000; drawings ₹25,000; net profit ₹55,000. Closing capital is:

A.₹2,70,000

B.₹2,30,000

C.₹2,95,000

D.₹2,15,000

Explanation: Closing capital = 2,00,000 + 40,000 − 25,000 + 55,000 = ₹2,70,000.

5Under British classification, cash purchase of goods debits:

A.Purchases Account (nominal) and credits Cash Account (real)

B.Cash Account and credits Purchases Account

C.Capital Account and credits Purchases Account

D.Debtors Account and credits Sales Account

Explanation: Purchases (nominal/expense-related) is debited; Cash (real) is credited for outflow.

6Accrual basis of accounting means:

A.Revenues and expenses are recognised when earned or incurred, not only when cash moves

B.Only cash receipts and payments are recorded

C.Assets are always shown at current market value

D.Drawings are treated as business expenses

Explanation: Accrual records incomes when earned and expenses when incurred, regardless of cash timing.

7A standard limitation of traditional financial accounting is that it:

A.Largely ignores non-monetary qualitative factors such as employee skill

B.Never follows any standards

C.Always reports future market prices of all assets

D.Eliminates the need for internal control

Explanation: Financial accounting focuses on monetary transactions and thus omits many qualitative factors.

8Assets ₹4,80,000; Liabilities ₹1,50,000. Capital is:

A.₹3,30,000

B.₹6,30,000

C.₹1,50,000

D.₹4,80,000

Explanation: Capital = Assets − Liabilities = 4,80,000 − 1,50,000 = ₹3,30,000.

9The going concern concept assumes that the business will:

A.Continue operating for the foreseeable future

B.Be liquidated within twelve months

C.Always earn super profits

D.Never purchase fixed assets

Explanation: Going concern assumes continuity, supporting depreciation over useful life and fixed vs current classification.

10IFRS primarily aims to:

A.Provide a common global set of high-quality standards for comparable financial statements

B.Replace all national tax laws

C.Prohibit double-entry book-keeping

D.Fix the maximum profit a company may report

Explanation: IFRS seeks global comparability and transparency of financial reporting.

About the CHSE Odisha Elective Accountancy Practice Questions

Verified exam format metadata for Council of Higher Secondary Education, Odisha (CHSE Odisha) Higher Secondary (+2) Elective Accountancy (Commerce stream, 1st elective compulsory) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.

100+ Free CHSE Odisha Elective Accountancy Practice Questions

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Key Facts: CHSE Odisha Elective Accountancy Exam

Sample CHSE Odisha Elective Accountancy Practice Questions

About the CHSE Odisha Elective Accountancy Practice Questions