B.Com. LL.B. (Five Years) Sem 1 Financial Accounting 2025 Jan Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) What is double entry system of Book Keeping ? Explain its advantages and disadvantages.
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2. Q1 OR Discuss the advantages and limitations of Accounting.
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3. Q1 (b) Explain in brief about i) Money Measurement Concept ii) Dual aspect concept iii) Matching concept.
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4. Q1 OR Write a short note on GAAP.
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UNIT - II

1. Q2 (a) Journalise the following transactions in the books of Mr. Harishankar
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2. Q2 OR Enter the following transactions in three column cash book
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3. Q2 (b) State the objectives of subsidiary books.
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4. Q2 OR From the following ledger balances, prepare trial balance of Mr. Gokul as at 31/03/2022
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UNIT - III

1. Q3 (a) Prepare final accounts of Mr. Raj as at 31/03/2023 from the following trial balance.
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2. Q3 OR Prepare final accounts of Mr. Devraj for the year ended 31/03/2021 from the following trial balance.
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3. Q3 (b) State the advantages and dis-advantages of final accounts.
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4. Q3 OR Prepare a balance sheet showing atleast six items with imaginary figures.
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UNIT - IV

1. Q4 (a) From the following particulars of Bangalore club, prepare income and expenditure A/c for the year ending 31/12/94 and the balance sheet as on the date.
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2. Q4 OR What is Non Profit organisation ? Explain the final accounts of Non-profit organisation with the format.
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3. Q4 (b) Explain the objectives of Non profit organisations.
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4. Q4 OR Distinguish between capital expenditure and revenue expenditure with examples.
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UNIT - V

1. Q5 (a) What is computerised accounting ? Distinguish between Manual accounting and computerised accounting.
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2. Q5 OR State the merits and demerits of computerised accounting.
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3. Q5 (b) State any six factors to be considered before implementation of computerised accounting.
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4. Q5 OR Write a short note on Tally accounting softwares.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.