Fundamentals of Accounting
Note : The Internal Assignment has been divided into three sections A, B and C. Write answer as per the given instruction.
Section-A (Very Short Answer Type Questions)
Note : Answer all four questions. As per the question you delimit your answer in one word, one sentence or maximum up to 30 words. Each question carries 1 Mark. 4 Q x 1 = 04
Q.1 Current Cost.
Q.2 Financial Statement.
Q.3 Money Measurement.
Q.4 Convention of Conservatism.
Section-B (Short Answer Questions)
Note : Answer any 2 questions. Each answer should not exceed 200 words. Each question carries 4 marks. 2 Q x 4 = 08
Q.1 Advantages of Petty Cash Book.
Q.2 Define Depreciation and it’s methods.
Q.3 What do you mean by unearned income?
Q.4 What is Receipt and Payment account?
Section-C (Long Answer Questions)
Note : Answer any one question. You have to delimit your each answer maximum up to 800 words. Each question carries 8 marks. 1 Q x 8 = 08
Q.1 What are the advantages and limitations of a journal? Write the explanation of the format of journal.
Q.2 “Profit and Loss Account and Balance Sheet are indispensable statements.” Give your comment.
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