Model Question Paper www.mlsu.ac.in BCom : Mohan Lal Sukhadia University

[hemalathaijt]

Document Described : Mohan Lal Sukhadia University
MODEL PAPER
B.Com Iyr. Examination 2011-12
FINANCIAL ACCOUNTING
Time : 3 Hours
M.Marks: 75

BCom Question List : http://mlsu.ac.in/model/B.Com.html
Model Question Paper : http://mlsu.ac.in/model/Annual%20PDF...ACC.AC.MCQ.pdf

Part A [ Marks : 45]
Time : One and half hours
Answer all questions. All questions carry equal marks.

Part B [ Marks : 30]
Time : one and half hours
Answer any three questions out of five. All questions carry equal marks.

1. Cash book is a
a. Ledger account
b. Subsidiary account
c. Subsidiary journal and ledger account.
d. None of these

2. The accounting equation based on dual aspect concept is
a. Capital = liabilities- Assets
b. Liabilities= Capital + Assets
c. Assets = Equities
d. Capital + Assets = Claims of outsiders

3. Prepaid insurance is an example of
a. A liabilities
b. An asset
c. An expense
d. An income

4. Debit note provides basis for preparing
a. P/R Book
b. Sales book
c. S/R book
d. Purchase book

5. A Schedule of balances drawn from ledger is called
a. A trial balance
b. A statement of affairs
c. A balance sheet
d. A statement of account

6. Sales are equal to
a. Cost of goods sold + Net profit
b. Net profit+ expenses + cost+ goods sold
c. Gross Profit+ cost of goods sold+ expenses
d. None

7. Error of principle arises when
a. There are wrong castings and wrong postings
b. There is a partial omission in recording
c. Distinction is not made in Capital and revenue
d. S/R recorded as P/R

8. Freight Rs. 250 paid on new machine was charged to carriage inwards account, it is an error of
a. Principle
b. Commission
c. omission
d. Compensatory

9. The basic function of financial accounting is to
a. Record all business transactions
b. Interpret the financial data
c. Assist Mgt. in performing functions effectively
d. Attain non-economical goals

10. IF total charge of depreciation and maintenance are considered, the method which provides a equal change in P & L a/c is
a. SM
b. WDV
c. G F Method
d. Annuity method

11. Depreciation is a method of
a. Valuation
b. Allocation
c. valuation and allocation both
d. none of these

12. Depreciation on a machine of Rs. 4000 at 10% for 3 years by reducing balance method will be
a. 2916
b. 1000
c. 100
d. 900

13. If abnormal loss occurs before reporting the normal loss, the burden of normal loss will be
a. Good quantity
b. sales quantity
c. Abnormal loss as well as good quantity
d. None of the above

14. Del credere commission is allowed to the consignee to bear
a. Normal loss
b. Abnormal loss
c. Indirect expenses
d. Loss of Bad debts

15. "Joint venture with Y" is an example of
a. Nominal a/c
b. Memorandum a/c
c. Real a/c
d. Personal a/c

[Unregistered]

I want to download M.Com previous business administration question papers.