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Here are the tips which every Commerce student should follow-
(1) READ THE QUESTION PAPER
Read the question paper for the first 15 minutes.
It's fantastic that children have 15 minutes to read, think about, and comprehend the question.
It is the ideal strategy to begin the exam for Accounting questions. You can get an idea of how to begin your responses by reading the question paper.
Before examining the question, it is vital to check the marks assigned to each question.
Write the questions about which you are most certain first.
Before you begin writing, reread and reapply the question.
Underline the most important aspects of the question and make sure you understand what the examiner expects you to submit as your response.
The majority of pupils make the error of not reading the question carefully and consequently incorrectly answering it.
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(2) ATTEMPT ANSWERS
Complete all of the questions in each section in order.
Any question with many parts should be attempted in order, without skipping any.
If students are unsure of the answer, they can leave a blank and try again later.
Make a note of the answer number.
The response number should be appropriately highlighted or written in the boxes.
Answer to Question No.-1' is a good place to start.
This will help the paper checker to examine your response fast and simply, allowing him to appropriately allow marks.
(3) HANDWRITING AND PRESENTATION
Use legible handwriting when writing.
It has been observed that kids who write legibly receive higher grades.
Students can sometimes obtain good grades even with a mediocre answer.
So write legibly and make life easier for both you and the paper checker.
The most important factor is presentation.
Cutting/mistakes irritate paper checkers. It provides a negative impression, and this is one of the most common areas where pupils lose marks.
The answer sheet must be presented neatly and cleanly.
(4) ROUGH WORK AND WORKING NOTES
Display correct working notes.
Show your working notes neatly wherever they are needed.
Almost all of the practical questions are graded.
On a separate sheet, do some rough work.
Rough work should be done on a separate sheet, not on the right side of the answer sheet with the solution or the margin.
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5) TIME SAVING & STEPWISE MARKING
Even if the answer is incorrect, write the solutions properly and step by step for each calculation. The CBSE follows a step-by-step system for assigning grades.
If the amount is not similar, do not try to recreate the Balance Sheet solution with incorrect numbers.
Make the most of your time
If you don't know the answer to a question, go on to the next one rather than waste time.
Unanswered questions can be answered in the end.
(6) REQUIREMENTS FOR FORMATS AND ACCOUNTING
When formatting, use a pencil.
Always use a pencil while preparing a ledger, balance sheet, or any other statement. Avoid writing with a pen since you can always edit it later.
Don't forget to capitalise Dr.
Source: Safalta.comand Cr.
Cr. and Dr. are required in accounting, notably for debit and credit sums. Remember to include the date, the Indian rupee symbol, the particulars, and the amount, among other things.
(7) BALANCE SHEET
In share capital-based queries, materials such as a company's balance sheet and notes should be written in the new balance sheet format.
The new balance sheet format has some implications for the Common Size Income Statement, Comparative Balance Sheet, and Common Size Balance Sheet. Students should be cautious and follow the new format when writing.
What if the numbers on your Balance Sheet don't add up?
All you have to do is calculate the difference between two sides and match that number to the amount in the question, and you'll have two options.
Option #1: Any Amount is equal to the difference.
If any amount matches the difference, check to verify if you've properly given both the effect of a transaction. If you don't indicate that effect, your balance sheet will reflect it.
Possibility no. 2: There is no amount that matches the difference.
If you can't discover such a number, double or half it to check what the linked figure is that is causing the disparity.
Because the balance sheet's second impact exists in the balance sheet itself, each balance sheet figure should be documented in a single side effect in the relevant account or statement.
Make certain you don't squander any time during this procedure.
HOTS (High Order Thinking Skills)
HOTS questions should be approached with caution.
However, do not dwell on them for an inordinate amount of time.
Leave it till the end if you're not sure about the solution. If you have the time, try it.