OUR OWN PUBLICATION FROM 1ST JULY, 2018 FOR B.COM

1. B.COM FIRST SEMESTER COMPLETE NOTES (CHOICE BASED) WITH SOLVED FINANCIAL ACCOUNTING BOOK
2. B.COM 3RD SEM COMPLETE NOTES WITH SOLVED BOOKS OF:
*ADVANCED FINANCIAL ACCOUNTING
*BUSINESS STATISTICS SOLVED PAPERS OF LAST 7 YEARS
* FINANCIAL MANAGEMENT BOOK
3. B.COM 5TH SEMESTER COMPLETE NOTES WITH SOLVED BOOKS OF MANAGEMENT ACCOUNTING OF JAIN AND NARANG

Sunday, November 03, 2013

Dibrugarh University (1st Semester) - Financial Accounting Important Questions and Answers

Unit 1
Q. What are accounting Standards? What procedure adopted for formulating accounting standards? Discuss its objectives.
Q. List out the merits and limitations of accounting standards.
Q. What are accounting policies? What are the areas in which different accounting policies are encountered? Why disclosures of accounting policies are needed?
Q. Explain the various provisions of accounting standard 1 – Disclosure of accounting policies.
Q. Write short notes on:
Ø  Consideration in selection of accounting policies
Ø  Condition for change in accounting policies
Ø  Fundamental accounting assumptions
Ø  Importance of financial statements
Ø  Limitations of financial statements

Unit 2
Q. Define Hire purchase system. What are its characteristics? Mention its advantages and disadvantages.
Q. Define Installment Purchase system. What are its characteristics? Distinguish between hire purchase and installment purchase system.
Q. Distinguish between Hire purchase and Credit sale and Hire purchase and an agreement to sale.
Q. What are the rights and obligations of Vendor and Vendee?
Q. What do you mean by repossession of goods? Write a note on complete and partial repossession of goods.

Unit 3
Q. Define Branch and Branch accounting. Mention the objectives of Branch accounting. Explain its need and importance.
Q. What are various types of Branch? Explain various system of maintaining branch account.
Q. Explain the treatment of following in case of Independent Branch:
Ø  Inter Branch Transactions
Ø  Cash in transit
Ø  Goods in transit
Ø  Expenses of branch paid by head office or vice-versa
Ø  Depreciation on fixed assets
Q. Write short notes on foreign branch.

Unit 4
Q. What is Royalty? What are its Various Types? Distinguish Between Royalty and Rent.
Q. What is Minimum Rent (Also Known as Rock rent, Dead Rent, Fixed Rent, Flat rent, Contract rent, Surface Rent)? Explain its importance.
Q. What are the entries passed in the books of Lessor and Lessee?
Q. Write Short Notes on:
Ø  Shortworking
Ø  Surplus
Ø  Sub Lease
Ø  Surface Rent Account

Unit 5
Q. Distinguish between Dissolution of Partnership and Dissolution of Partnership Firm. What are various modes for dissolution of a partnership firm?
Q. Write a brief note on the applicability of Rules of Garner Vs Murray.
Q. What do you mean by amalgamation of Firms? What are its various types? Mention its objectives.
Q. How Realisation account is prepared? Distinguish between realisation account and revaluation account.
Q. Write short notes on: Settlement of account on dissolution of partnership firm.