QB 1 yr FA part 1

                                                                   QUESTION BANK(Only Theory)

UNIT-I

 1.     What is accounting? Explain how accounting is useful to different groups of users in the society.                                                                                                                                                                    (Mar 03)(Mar 02)

2.     What are accounting principles? Explain the various accounting concepts and conventions.                                                                                                                                                                            (Mar 02)(Oct 02)

3.     Explain the objectives, advantages and limitations of accounting.                                  (Mar 05)(AU Mar 02)

1.       What do you understand by ‘subsidiary books’? What are its merits and demerits?                                                                                                                                                                         (Oct 02)(Mar 04)(SKU Mar  02)

5.     “Entity” and “continuity” concepts are interrelated. Comment.                                                               (Oct 03)

6.     What is imprest system petty cash? Show a specimen of petty cash book with an imprest system.    (Mar 05)

7.     Distinguish book keeping and accounting and list out the significance of accounting. (Mar 05)(KU Mar 02)

8.     State the objectives and branches of accounting?                                                                       (Mar 03,04)(SKU Mar 02)

9.     What is journal proper? What entries are recorded in it?                                                            (Oct 03)(Mar 03)

10.  Distinguish between:                                                                                                                   (Oct 04)(KU Mar 02)

1.       Debit note and credit note.

2.       Trade discount and cash discount.                                                                          (AU Mar 02)(NU Mar 02)

11.  Write short notes on:

1.       Invoice

2.       Imprest system of petty cash book.                                                                                                      (S.V Univ Mar 02)

12.  What is contra entry?                                                                                                                                                 (KU Mar 02)

13.  Distinguish between accrual basis of accounting and cash basis of accounting.                            (NU Mar 02)

14.  Explain briefly the different accounting concepts with suitable examples.                                     (NU Mar 02)

15.  State the debit and credit rules for different accounts.                                                                        (AU Mar 02)

16.  Distinguish between capital expenditure and revenue expenditure.                                                  (AU Mar 02)

17.  Explain the advantages of journalising.                                                                                                                 (AU Mar 02)

18.  How is trial balance is prepared?                                                                                                           (SKU Mar 02)

19.  Is cash book a subsidiary book?                                                                                                              (AU Mar02)

 UNIT-II

 1.       Write short notes on:    (Oct 03)(Oct, 02)

a.       Capital expenditure

b.       Revenue expenditure

c.        Differed revenue expenditure

         

2.        Write the differences between capital and revenue expenditure. (Mar 04)

3.       What do you mean by the suspense a/c? Why it is opened? (Mar 02)(AU Mar 02)

4.       What are errors of principles? (KU Mar 02)

5.       Write about the classification of assets and liabilities? (SVU Mar 02)

6.          Explain the merits and demerits of various methods of calculating depreciation.  (Oct 03)

7.        “The method of depreciation has an impact on profits of the business.” Explain with an example. (Mar 03)

8.       What is depreciation? What are the different methods of depreciation used for different assets? Does the method of depreciation used have impact on the profits of the business? (Mar 02)(KU Mar 02)

9.       What is a secret reserve? In what different ways it can be maintained? (Mar 02)

10.    How do you differentiate a reserve, provision and reserve fund? What are the different types of reserves we come across in the business?  (Mar 02)

11.    Differentiate between a provision and a reserve. Explain different kinds of provisions and reserves that are maintained by the businessman (Oct 02)(Mar 03,04,05)(SKU Mar 02)(NU Mar 02)

12.    Distinguish between general reserve, specific and reserve fund. (Mar 05)             

 UNIT-III

 1.      What is BRS? Why it is necessary to prepare such a statement?       (Mar 02)(AU Mar 02)

2.       Explain the essentials of bills of exchange and differentiate it from promissory note.                                (Oct 04)

3.      Write the short notes on:                                                                                                                            (Mar 95)

a.       Drawee.

b.        Drawer.

c.        Payee.

d.       Accommodation bills.                                                                                                                        (NU Mar02)

e.        Noting charges.

f.        Retiring of bill.                                                                                                                                   (SUV Mar02)

4.      “Balance as shown by the pass book need not necessarily be the same as that of cash book.” Explain.                

                                                                                                                                                                          (Mar 02)

5.       How is bank reconciliation statement prepared?                                                                   (AU Mar 02)

6.       Distinguish between trade bill and accommodation. (AU Mar 02)(NU Mar 02)(CS195,96,01)

7.      Define ‘bill of exchange’. Distinguish between trade bill and accommodation bill. (KU Mar02)

          

8.      What is meant by account sales? Prepare account sales with imaginary figures.  (Mar 02)

           

9. Explain the terms:

a.   Account sales

b.   Delcredere commission.  (Oct 02)(SVU 02)

10.Give the proforma of account sales. (Oct 03)

11. Distinguish between joint venture and consignment (Oct 04)

12.Distinguish between joint venture, consignment and partnership. (Osm univ)(NU Mar 02)(SVU 02)

13Why is del credere commission paid? (AU Mar 02)

14.How will you treat normal loss in consignment accounts? (AU Mar 02)

15. Explain the accounting treatment for abnormal loss in consignment? (NU Mar 2)

16.  What is consignment? Explain the salient features of consignment? (KU Mar 02)