QB 1 yr FA part 2

QB 1 yr FA part 2

UNIT IV

1)       What do you understand by a non-trading concern.(osm Oct 2004)

2)       What is a single entry system of accounting.? Describe its    limitations and advantages

3)       Distinguish between single entry and double entry system

4)       Distinguish between statement of affairs and balance sheet.

5)       What are the methods of findings profits under single entry system.

6)       Distinguish between trading concerns and non-trading concerns.

UNIT-V

1.     Write short notes on Fixed capital and fluctuating capital.(PE1,Nov 1995)

2.    Briefly explain the Realization and revaluation a/c( May 04,PE1)

3.    Write a note on Garner vs. Murray rule

4.    What is joint life policy ? Describe the accounting treatment of Joint life policy up on the death of a partner.

5.    What is Goodwill? How is it treated on the admission of a partner?