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

Questions asked in this paper

UNIT - I

1. Q1 (a) Define accounting. Explain concepts of accounting.
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2. Q1 OR What is book keeping ? How does it differs from accounting ?
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3. Q1 (b) Write a short note on accounting standard.
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4. Q1 OR Write a short note on limitations of accounting.
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UNIT - II

1. Q2 (a) Journalise the following transactions for the month of Dec. 2022.
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2. Q2 OR Record the following transactions in the three columnar cash book.
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3. Q2 (b) Write a short note on preparing a Trial Balance.
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4. Q2 OR Record the following transactions in appropriate subsidiary books.
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UNIT - III

1. Q3 (a) The following balances were extracted from the books of A and Co. on 31st March 2022.
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2. Q3 OR Prepare the Trading and Profit and Loss account and Balance Sheet as on 31st Dec. 2022 after making the following adjustments :
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3. Q3 (b) Difference between Profit and Loss a/c and Balance Sheet.
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4. Q3 OR Write a short note on Trading account.
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UNIT - IV

1. Q4 (a) Distinguish between Receipts and Payments A/c and Income and Expenditure A/c.
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2. Q4 OR From the following receipts and payments and information given below, prepare income and expenditure account and Balance Sheet of literacy organisation as on 31st Dec. 2022.
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3. Q4 (b) Write a short note on capital fund. How it is calculated ?
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4. Q4 OR Show the treatment of the following items by non-profit organisation.
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UNIT - V

1. Q5 (a) "Computerised accounting systems are best form of accounting system". Do you agree ? Comment.
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2. Q5 OR Define a computerised accounting system. Distinguish between a manual and computerised accounting system.
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3. Q5 (b) Write a short note on limitations of computerised accounting systems.
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4. Q5 OR Write short note on customised accounting software.
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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.