IGNOU ASSIGNMENT, FINANCIAL ACCOUNTING (BCOC - 131), QUESTION PAPER – (2024 - 25)| (B.COM) (GENERAL/ CBCS)| ENGLISH MEDIUM
TUTOR
MARKED ASSIGNMENT
COURSE CODE: BCOC-131
COURSE TITLE: FINANCIAL ACCOUNTING
ASSIGNMENT CODE: BCOC-131/ TMA/ 2024-25
COVERAGE: ALL BLOCKS
Maximum Marks: 100
Note: Attempt all the questions.
हिंदी माध्यम: यहां क्लिक करें
Section-A
(Attempt all the
questions. Each question carries 10 marks.)
1. Explain the objectives of Accounting and briefly describe the qualitative characteristics of accounting information. 10
2. What do you mean by principle of double entry? Give the
rules of debit and credit with suitable examples. 10
3. What is meant by convergence to IFRS? Explain and
distinguish between Indian AS and International AS. 10
4. What is a trial Balance? Explain the causes for
disagreement of a Trial Balance. 10
5. Describe the methods of recording depreciation in the
books of account. How is the balance of the provisions for depreciation account
shown in the Balance Sheet? 10
Section-B
(Attempt all the
questions. Each question carries 6 marks.)
6. Give closing entries for Trading and Profit and Loss
account. 6
7. Provide the accounting treatment of adjustments in the
final accounts for the following: 6
(a) Income
received in advance
(b) Provision
for discount on debtors
8. Explain the steps involved in order to calculate the
interest when total cash price of instalments are given. 6
9. State the journal entries to be passed in order to open
various accounts under Stock and Debtor system applicable in case of hire
purchase business. 6
10. Name the systems of maintaining the accounts of a
dependent branch and describe how profit is ascertained under each system. 6
Section-C
(Attempt all the
questions. Each question carries 10 marks.)
11. Briefly explain various methods of recording the joint
venture transactions without maintaining separate set of books. 10
12. Write short notes on the following: 10
(a) Ledger
creation
(b) Creating
invoices
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