IGNOU, ECO 14, Important Questions for December Exam, Accountancy 2

 IMPORTANT QUESTIONS



ECO 14


1. How are inter departmental Transfer of goods treated in departmental account? Explain the bases of allocation of common expenses among various departments. 




2. How do independent branches deal with goods in transit and cash in transit in their books of account. 




3. a). Explain briefly the uses of fund flow statement. 


b) Explain briefly the procedure of forfeiting shares for non payment calls. 




4. a) How shall the new capital of each partner be worked out if the capital is to be adjusted in the new profit sharing ratio? Explain with example. 



b) Explain with example, as to how would you treat the goods repossessed in the books of vendors when a hire purchase customers commits default in payment of instalment. 




5. a) What do you mean by debenture issued as a collateral security? Describe their accounting treatment. 



b) What steps would you take to calculate the interest when total cash price and the installments are given. 



c) Explain how branch stock account helps in keeping effective control over the branch stock. 




d) What is profit prior to incorporation? How is it calculated?



e) How is provision for income tax treated in the books of company?





6. Write short notes on the following:

•Purchase Consideration
•Preliminary Expenses
•Cash Flow statement



7 Distinguish between the following:

•Company and partnership
•Shares and Debentures
•Hire Purchase System and installment payment system




8. a) Briefly explain the treatment of goodwill when
incoming partner does not bring his share of
goodwill in cash.
b) Enumerate the rights of Hirer under Hire-purchase
Agreement.


c)Briefly explain how profit is ascertained under
stock and debtors system of maintaining the
accounts of a dependent branch.


d)Enumerate the three ways of treating premium
paid on joint life policy in the accounts of a firm
and explain any one of these with an example.


e) Explain the different types of branches from the
accounting point of view.


f) State the limitations of financial statements. 


g) Explain the rule of Garner Vs. Murray with an example.



h)Show how unrealised profit in case of
Departmental Accounts is worked out and
accounted for.

Comments

Post a Comment

Popular posts from this blog

IGNOU M.COM MCO3 Research methodology and statistical analysis IMPORTANT QUESTIONS FOR DEC2020 Exam

 IMPORTANT QUESTIONS MCO3 1.  Explain any 4 methods of research and their applicability in business research. 2. When is the adoption of non random sampling method advocated? Explain the different non random sampling methods with examples. 3 a) Explain the importance of visual presentation of statistical data in research work. b) What are the different types of diagrams generally used in business research  to present the data? Give a brief description. 4 a) What do you mean by 'estimation' and 'testing of hypothesis'? Explain the procedure used  for testing a statistical hypothesis?  b) Explain the procedure involved in fitting binomial and poisson distributions? 5.  a) Describe the methods of generalization. b) What are the various types of reports? Explain. 6. a) What are sources of research problems ? b) What are the points to be considered while selecting a research problem?  Explain the process of problem formulation. 7. a) What are the various so...
Read more

Ignou. MCO3. Feb 2021 question paper. feb 2021 exam. Important questions

 1.a)Explain the rationale behind selecting various types of research approaches in business management.                                                              OR b) " A well defined research problem is half solved" Justify it with suitable examples. 2 a)Explain the concept of measurement error What are the various  produto 20tools and techniques for "attitude measurement in consumer research related to FMCG products? b) What is reliability and validity of measurement? Explain procedure for testing reliability  and validity of survey instrument used in your research. 3. Write short notes on any four of the following: a) Stage of the business research process b) Interview method of data collection c) Requisites of a good statistical table d) Precautions in interpretation of data e) Yates' correction for contin...
Read more

IGNOU ECO 10 FEB 2021 QUESTION PAPER.FEB EXAM QUESTION PAPER

 1. Define Cost Accounting'. State its main objectives. 2. (a) What do you understand by direct material and indirect material ? Explain with examples. (b) How can labour turnover be reduced ?  3. Write short notes on any two of the following: (a) Purchase order (b) Work-in-Progress c) Contract Costing (d) Group Bonus Scheme Section-B 4. In a factory, the following purchases and issues of the material were made during the month of August, 2019. Prepare the Store Ledger Account under FIFO method: August Balance 300 units @ 7 3 each 1 4 Purchased 600 units @ 4 each 6 Issued 500 units 10 Purchased 700 units @ 6 each 15 Issued 800 units 19 Returned 50 units to store issued on August 6th and purchased on August 4th 23 Issued 100 units 5. (a) From the following information, compute wages of A and B under Taylor's differential Piece Rate System : Standard time allowed 10 units per hour Normal piece rate rs5 A produces 75 units in a day of 8 hours.  B produces 100 units in a day ...
Read more