Unit – 1: Introduction to Accounting
Expected Marks: 10
1) What is accounting? What are its objectives? Give two characteristics of Accounting.
2) Explain five points of advantages and limitations of accounting.
3) What is Accounting Information? Mention any two three of accounting information. Mention the qualitative characteristics of accounting information.
4) Mention three functions of Accounting.
5) Define book-keeping. Give three differences between Book-keeping and Accountancy.
6) Mention the objectives and features of book-keeping.
7) Write name of the parties who are interested in accounting information.
8) What is source of document? Mention two sources of document.
9) Mention any four process of Accounting. (Accounting Cycle)
10) Define the following term in two lines: Capital, Drawings, Assets, Liability, Expenses, Incomes, Debtors, Creditors, Voucher, Revenue, Income, Debit note, Credit note, Proprietor, Deferred revenue expenditure, Contra entry.
Unit – 2: Theory Base of Accounting
Expected Marks: 8
1) What is the Accounting standard? Mention its objectives.
2) Mention the advantages and limitations of Accounting standard.