Vardhaman Mahaveer Open University
ECO-04
B.Com. EXAMINATION, June, 2011
ACCOUNTANCY
Paper-ECO-04
(Accountancy)
Time allowed : Three hours
Maximum marks : 70
Section-A
Attempt all the three questions fromSection-A. Each question contains an internal choice. Each question carries 14 marks. The answer of each question should not exceed 500 words.
1. X Company supplies goods to its Jaipur branch at cost plus 25%. From the following particulars, prepare the Branch A/c showing the Branch Profit :
Opening stock 3,200
Goods sent to branch 50,000
Sales : Cash Rs. 34,720
Credit Rs. 15,680 50,400
Cash received from customers 14,000
Wages and salaries (Remitted by H.O.) 2,128
Rent and insurance
(Remitted by H.O.) 1,660
Discount to customers 360
Bad debts 200
Theft of goods 140
Returns from customers 280
Depreciation on branch assets 140 (14 Marks)
Or
What do you mean by Hire Purchase System ? What are its main characteristics ? 14
2. What is Garner v/s Murray Rule ? How it is applied under Fixed and Fluctuating Capital System ? 14
Or
What is Buy-back of shares ? State the various provisions and guidelines regarding this aspect. 14
3. Explain the process of Financial analysis. 14
Or
What is Cash Flow Analysis ? Give its advantages and limitations. 14
Section-B
Attempt any four questions from Section-B. Each question carries 7 marks. The answer of each question should not exceed 150 words each.
4. Explain the meaning and scope of audit. 7
5. Explain the scope of statutory audit. 7
6. What is meaning of Internal Control ? Explain object of Internal Control. 7
7. What is an audit programme ? How should it be constructed ? 7
8. What points are considered by an auditor in vouching ? 7
9. What do you understand by fictitious assets ? At what value they are valued ? 7
10. What important documents would you consult before commencing the audit of a joint stock company and why ? 7
ECO-04
B.Com. EXAMINATION, June, 2011
ACCOUNTANCY
Paper-ECO-04
(Accountancy)
Time allowed : Three hours
Maximum marks : 70
Section-A
Attempt all the three questions fromSection-A. Each question contains an internal choice. Each question carries 14 marks. The answer of each question should not exceed 500 words.
1. X Company supplies goods to its Jaipur branch at cost plus 25%. From the following particulars, prepare the Branch A/c showing the Branch Profit :
Opening stock 3,200
Goods sent to branch 50,000
Sales : Cash Rs. 34,720
Credit Rs. 15,680 50,400
Cash received from customers 14,000
Wages and salaries (Remitted by H.O.) 2,128
Rent and insurance
(Remitted by H.O.) 1,660
Discount to customers 360
Bad debts 200
Theft of goods 140
Returns from customers 280
Depreciation on branch assets 140 (14 Marks)
Or
What do you mean by Hire Purchase System ? What are its main characteristics ? 14
2. What is Garner v/s Murray Rule ? How it is applied under Fixed and Fluctuating Capital System ? 14
Or
What is Buy-back of shares ? State the various provisions and guidelines regarding this aspect. 14
3. Explain the process of Financial analysis. 14
Or
What is Cash Flow Analysis ? Give its advantages and limitations. 14
Section-B
Attempt any four questions from Section-B. Each question carries 7 marks. The answer of each question should not exceed 150 words each.
4. Explain the meaning and scope of audit. 7
5. Explain the scope of statutory audit. 7
6. What is meaning of Internal Control ? Explain object of Internal Control. 7
7. What is an audit programme ? How should it be constructed ? 7
8. What points are considered by an auditor in vouching ? 7
9. What do you understand by fictitious assets ? At what value they are valued ? 7
10. What important documents would you consult before commencing the audit of a joint stock company and why ? 7
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