Unit 1 Theoretical Framework. A. Answer the Following (1 Mark) 1. What is Accounting equation? 2. Find out the value of assets if: Liabilities=Rs. 5000 and Capital=Rs.1000. 3. Give the classification of accounts. 4. State the rules of classified accounts. 5. List out the main branches of accounts. 6. The matching concept shows the match between which combinations? 7. The concept of separate entity is applicable to which types of businesses? 8. According to which concept the allocation of owner s private expenses not to be recorded to his/her business? 9. Which concept states that the publication or presentation financial statements should not be delayed? 10. Give the rules of Impersonal A/C. 11. Specify the rules of personal A/C. 12. Give the classification of Impersonal A/C. 1. If cash = Rs. 10,000/- Inventories= Rs.40, 000/- Debtors= Rs.50, 000/- Fixed Assets=? Capital + Liabilities= Rs.1, 50, 000/-. What is the amount of total assets? 2. What is Accounting? 3. What is Accrual Accounting? 4. Who are the users of financial information? 5. What is Real Account? 6. How revenues or incomes do affects the accounting equation? 7. What are the main types of business entity? 8. What are nominal account? 1. Define Accounting. Discuss the scope and importance of accounting. 2. Explain the classifications of accounts in detail with examples.
3. Explain Dual Aspect Concept and Going Concern Concept. 4. Discuss in detail Separate Entity Concept and Accounting Concept. 5. Write a short note on Cost concept and Consistency concept Unit 2- Accounting Cycle. A. Answer the following. (1 Mark) 1. What is the other name of Journal? 2. In which order the data is recorded in journal. 3. What is Double entry system? 4. What is Journal? 5. What is Narration? 6. Which account is common base for preparing trial balance? 7. What is the other name of purchase book? 8. Which types of transaction are not recorded in Sales book? 9. Which book is known as books of original entries? 10. What is compound entry? 11. Draw the format of three columnar cash book. 12. Draw the format of Journal. 1. What is Zero balance account? 2. What is closing balance of an account? 3. How is journal differing from ledger account? 4. What are the different books of secondary entries? 5. Why do we need to prepare books of original entries? 6. Which are the three different books of original entries? 7. Why ledger is considered as king of all books? 8. Which are the two main purposes of preparing trial balance? 9. Define contra entry. 10. Define cash book. 1. Journalize the following transactions in the books of Raj for the month of Jan,2015:
Jan. 1 Commenced business with cash 7,500 Jan. 3 Goods purchased for cash 1,000 Jan. 8 Furniture purchased for cash 50 Jan. 15 Goods purchased from Viraj and he allowed us 10% trade discount 350 Jan. 20 Cash paid to Viraj in full satisfaction 300 Jan. 21 sold goods to Ravi. 115 Jan. 22 Cash received from Ravi. 15 Jan. 25 Amount received from Ravi in Full Settlement. 50 Jan. 26 Paid for Miscellaneous Expenses 25 Jan. 28 Withdrawn by Raj for his personal use 100 Prepare ledger, Purchase Book, Sales Book, Cash Book, and Trial Balance. Unit 3- Preparation and Analysis of Financial Statement. A. Answer the following (1 Mark) 1. What does inventory includes? 2. If the credit side of the bank account is greater than the debit side, what is it? 3. What do you mean by withdrawals? 4. Who are the users of financial statement? 5. List out the types of Assets 6. List out any four examples of fixed assets. 7. Give the example of current assets. 8. List out the example of current liability. 9. In Common size statement which balance is considered as 100% in Profit & loss a/c? 10. What does the financial statement show? 11. What is the main objective of Analysis and Interpretation? 12. List out the forms of Balance sheet. 1. Define Fixed Assets. 2. Define goodwill. 3. What is Current Liability?
4. Define Ratio 5. What is common size statement? 6. Define Assets. 7. What is Current Assets? 8. List out the tools of financial statement analysis. 1. What are the objectives of analysing financial statement? 2. Which are the standards of comparison in financial analysis? 3. Discuss the techniques of financial statement analysis. 4. Are there any limitations on the interpretation of financial statements? 5. What is trend analysis? Unit 4- Nature and Scope of Management Accounting. A. Answer the following. (1 Mark) 1. The cost of electricity bill of the factory is treated as which cost? 2. Give the examples of office cost. 3. Salaries of manager are treated as which cost? 4. Which accounting classifies the type of accounting which reports financial and nonfinancial data about the cost of material and acquiring of resources? 5. What is the purpose of management accounting? 6. Give the classification of element of cost. 7. Calculate profit if Selling price Rs.10/ unit and Cost price is Rs. 7.5. 8. Is Semi variable cost and Semi fixed cost are same? 9. Is labour and material is direct cost? How? 10. Show the diagram of Fixed cost line. 1. Define total cost. 2. What is fixed cost? 3. What do you mean by semi variable or semi fixed cost? 4. Define Management Accounting.
5. Who are the users of Management Accounting Information? 6. Define Profit. 7. What is Overhead? 8. What do you mean by Indirect cost? 1. Explain the characteristic features of Management Accounting. 2. Distinguish between Management accounting and Business accounting. 3. Explain in detail Element of Cost. 4. What is cost accounting? Discuss the scope of cost accounting. 5. Explain the scope of management accounting. Unit 5- Cost Volume Profit Analysis. A. Answer the following. (1 Mark) 1. Give the formula for BEP per unit. 2. Full Form of B.E.P. 3. The selling price is Rs.5000/- and the contribution margin per unit Rs.1000 then calculate the contribution margin percentage. 4. Calculate contribution when total sales is Rs.9000 and the total variable cost is Rs. 2000. 5. Profit volume ratio shows the relation between which two variables? 6. Give the full form of M.O.S. 7. To calculate which cost total revenues is subtracted from total variable costs. 8. Which chart shows the relation between cost-volume and profit? 9. Formula: P/V Ratio (Comparison between two years) 10. The variable cost per unit is multiplied to quantity of units sold to calculate. 1. What is B.E.P? 2. What is M.O.S.? 3. Define Angle of Incidence. 4. Define CVPA.
5. Calculate operating income when the variable cost is Rs. 50000 and the fixed cost is Rs. 30000. 6. Prepare the format of Cash Budget. 7. How many cost is included in Flexible budget? 8. In a trading concern there was increase in profit from 10000 to 16000 when sales increased by Rs. 50,000/-. The fixed expenses were Rs.24,000. Ascertain the break even sales. 1. Write a short note on Break Even Chart. 2. What do you meant by CVPA? Explain its importance. 3. Explain the merits and demerits of Break Even Chart. 4. Explain the construction of B.E.P. 5. A. Calculate the break-even point from the following details: Sales Rs.10/ unit Variable cost Rs.6/ unit Fixed overhead Rs. 20000/- B. Calculate revised break- even point : 1. sales price increased by Rs.11/unit 2. Fixed cost raised to rs.25000. 3. Variable cost increased to Rs. 7/ unit. Unit -6- Budgets and Budgetary Control. A. Answer the following. (1 Mark) 1. Sales budget comes under which classification. 2. Which budget is most important budget among all other budgets? 3. Which budget changes with the change in level of activity? 4. What is the base for preparation of various budgets? 5. In the preparation of which budget difference between fixed and variable cost has a special significance? 6. What is short term budget?
7. The following budget estimates are available from a factory working at 50% of its capacity: Variable expense Rs.60000/- calculate the variable cost @ 75% and 100% capacity. 8. Prepare the format of Cash budget. 9. In flexible budget the factory is working at 50% capacity having fixed cost of Rs. 5000/- Calculate the fixed cost at different capacity @ 60%, 70%, 80%, 90% and 100% capacity. 10. Define forecast. 1. Give the classification of Budgets. 2. Define Budget. 3. What is flexible budget? 4. What is cash budget? 5. Define Budgeting. 6. Give the classification of budgets on the basis of flexibility. 7. List out any four classification of budgets on the basis of functions. 8. What is current budget? 1. Define Budget and Budgetary control and State its objectives. 2. What is cash budget? What are its advantages? 3. What do you understand by Zero base budgeting? 4. Define Budgeting and its objectives. 5. Explain different classifications of budget.