BCom SY BCom Sem 3 2023 2024 2024 FINANCIAL ACCOUNTING AND AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Attempt 2 to Q—5 with Internal Choice
2. Q3 Figures at right ir dicates full marks
3. Q4 Use of Standard Calculator is permitted Q-1 AJ Select correct alternative and rewrite the sentence. (Any 10) (10 Marks)
4. Q1 Current ratio is
5. Q2 Cash inflow for capital budgeting means
6. Q3 Liquid Assets does noi include
   • a. Debtors c. Stock
7. Q4 Profit and loss account shows
   • a. Financial Position of Company c. Operating Efficiency
   • b. Cashflow of a Company d. None of the above
8. Q5 Payback profitability is Cost of investment
   • b. Cost of investment
   • c. Cost of investment less Annual cash inflow
   • d. Total cash inflow less cost of investment
9. Q7 The numbers of years taken by a project to recover the initial investment is called
   • c. Profit Period d. INone of these
10. Q8 Common size Statement Analysis is also known
    • c. Static Analysis d. None of these
11. Q9 Which of the following is not used in capital Budgeting
12. Q10 Capital Budgeting is a part of
13. Q11 Current is express in
14. Q12 Asset Backing Ratio indicate of company
    • B] State whether the following statement is TRUE FALSE (Any 10) 10
15. Q1 In Finance working capital means current assets
16. Q3 Cash inflow is Needed ARR
17. Q4 Payback period is calculated to find Net present value
18. Q5 Liquidity means the firm ability pay its debts in the long run
19. Q6 Profitability ratios are used to know capital structure of company
20. Q7 Bank Overdraft is non quick liability
21. Q8 In Work in Progress Material is taken at 100% , Labour 50% and Overheads 50%,
22. Q9 Operating cost = Cost of Goods sold + Operating Expenses
23. Q10 Debtors turnover ratio is combined ratio
24. Q11 Working Capital requirement affected by nature of business
25. Q12 Capital budgeting is use for decision making Rearrange the Balance Sheet in Vertical Form and calcuiate the trend percentage taking 2019 figures as 100 and briefly comment on the same. (20 Marks) Balance Sheet as on 31** December
26. Q2 Following is the balance sheet of Wills Ltd as on 31 March, Provision for Tax 25,000 Land and Building | 20,000 Furniture and Fitting 40,000 You are requir 2d to prepare common size balance sheet (in vertical form) The following balance sheet Of (20 Marks) Other information for the year ending March, 2023: Sales Rs.35,00,000. Gross profit on sales 10%, Net profit before tax Rs.1,40,000, Arrange the balance sheet in the vertical form and calculate the foiiowing ratios: 20 marks
27. Q1 Current Ratio,
28. Q2 ‘iquid Ratio,
29. Q4 Proprietary Ratio Q- 3 From the following information prepare vertical revenue statement and find out ratios Trading, Profit and Loss A/c of M/s Kem Ltd (20 Marks) For the Year ended March 2023 To Factory Expense ; 3,80,000
30. Q2 Operating Ratio
31. Q5 Office and Administration expenses Ratio From the following information given by M/s. Q & Co. Pvt. Ltd., prepare an estimate of Working Capital for the year ended 31st March 2023. (20 Marks)
32. Q1 Estimated level of activity - 1, 04,000 units for the year 52 weeks
33. Q2 Cost of Raw Materials per unit — Rs.5
34. Q3 Cost of Labour per unit - 40% of Raw materials
35. Q4 Cost of Overheads per unit - 50% of the Labour cost
36. Q5 Profit per unit is 200% of Overheads
37. Q6 Stock of Raw Materials - 4 weeks
38. Q8 Stock of Finished Goods - 4 weeks
39. Q9 Credit to the Debtors - 6 weeks
40. Q10 Credit by the Creditors - 4 weeks
41. Q11 Time lag in payment of Wages - 4 weeks
42. Q12 Time lag in payment of Overheads - 2 weeks
43. Q13 Cash and Bank Balance required — Rs.40,000
44. Q14 Debtors are calculated on Sales basis
45. Q15 Purchases against Cash - 20%
46. Q16 All the activities are spread evenly throughout the year
47. Q1 td is considering the purchase of a machine. calculate: Pay back period, Profitability Index and NPV (10% discount). (20 Marks) Q-5 a] What is Capital Budgeting? Explain its Features and Importance. (10 Marks)
    • b] Distinguish between Financial Accounting & Management Accounting. Short Notes (Any 4) (20 Marks) 10
48. Q1 Types of Assets and Liabilities
49. Q2 Techniques used in capital budgeting
50. Q3 Classification of Ratios
51. Q5 Limitation of Ratio Analysis
52. Q6 Common Size and Comparative Statement

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