B.Com In Banking & Insurance (BCBI) Sem V March 2026 March 2026 Financial Reporting & Analysis Question Paper - Mumbai University | munotes

Questions asked in this paper

• 3) Figures to the right indicate full marks

1. Q1 A) Select the most appropriate alternative form those given below and rewrite the
   • 1. The first item under Assets in the balance sheet of
   • a. Cash and balance with RBI c. Investments
   • b. Balances with Banks d. Equity shares only
   • 2. Provision for unsecured doubtful assetsis
   • 3. Reserve forunexpired risk case of Marine insurance
   • a. 50% of net premium c. 100% of net premium
   • b. 50% of net claims d. 100% of net claims
   • 4. AS-3 is for
   • a. Valuation of inventory c. Cash Flow statement
   • b. Disclosure of accounting policies Borrowing cost
   • 5. Wages and Salaries is showing under schedule in companies final Accounts
   • b. Cost of Material Consumed d. Employees benefit Expenses
   • 6. Buying and selling of Furniture is a activity
   • a. Financing c. Operating
   • b. Administrative d. Investing
   • 7. Full form of ICAI is Institute of Accountants of India
   • a. Current c. Chartered
   • b. Compulsory d. Corporate
   • 8. IFRS 1 is for users
   • a. Transparent c. Confusing
   • b. Complex d. Ambiguous
   • 9. CSR stands for
   • 10. ASB stands for
2. Q1 A) State whether the following statements are True or False (Any Seven) 7 marks
   • 1. Banking companies must disclose contingent liabilities in their financial statements
   • 2. Insurance companies are required to prepare separate Revenue Accounts for each class of
   • 3. Cash flow from financing activities includes interest received on investments
   • 4. Final accounts of a company include the Balance Sheet, Statement of Profit and Loss, and Notes to Accounts
   • 5. IFRS stands for International Financial Reporting Standards
   • 6. Cash flow statements are mandatory for all companies under the Companies Act, 2013
   • 7. Banking companies must maintain a minimum Cash Reserve Ratio (CRR) with
   • 8. Reinsurance is a common practice in the insurance industry to spread risk
   • 9. IFRS 9 deals with revenue recognition
   • 10. IFRS and Ind AS are completely identical in all respects
3. Q2 (A) From the following information, prepare Profit and Loss Account in the books of SBI Limited for the year ended 31 March ,2023. (15) Interest on Bank Overdraft 1,50,000 | Interest on Recurring Deposit 20,000 Interest on Cash Credit 1,00,000 | Interest on other deposits 30,000 Interest on balances with other banks 2,00,000 5,000 Interest on other loans given 1,00,000 | Commission and brokerage 10,000 Interest on Fixed Deposit 50,000 | Dividend received 10,000 Interest on Saving Deposit 25,000 | Printing and stationery 10,000 20,000 | Discount on bills discounted 70,000 10,000 | Rebate on bills discounted 10,000 Profit and Loss Account Credit 50,000 | Office rent 5,000
   • 1. Provision for doubtful debt is Rs. 10000
   • 2. Provision for taxation is Rs. 15000
   • 3. Statutory reserve should be 25%
4. Q2 B. Calculate rebate on Bills Discounted as on 31-03-2024 from the following data and show the journal entry to be passed for this p Dose. (08) Date of Bill Rate of
5. Q2 C) While closing the books a bank its advances were classified on 31* March 2025 as You are required to calculate the amount of provision to be made by the bank as on March
6. Q3 A) From the following balances as on March 2025, prepare Revenue Account for the Marine Business of Jet General Insurance Company. (15) Balance of Fundason
7. Q3 B) Krishna General Insurance Co submits the following information for the year ended [Commission on Re-InsuranceCeded 7,000 Expenses of Management Rs 1,15,000 includes surveyors’ fees of Rs 21,000 and Rs 34,500 toward legal expenses related to claims. The opening Balance in Reserve for Unexpired Risk amounts to Rs 12,25,000. Reserve for unexpired risk is to be maintained @ 40% Prepare Revenue account for Krishna General Insurance Co (15)
8. Q4 From the following Balance Sheets of Mitesh Ltd. and additional information, Balance Sheets of Mitesh Ltd. for the year ending March 2023 and March 2024 30,000 10,000 | Cash in hand 1,00,000
   • 1. Depreciation on fixed assets for the year was Rs. 1,00,000
9. Q4 (A) The Trial Balance of Bharat Ltd. shows the following figures relating to Fixed Assets as on 31-3-2025: Goodwill (at Cost) Rs 13,00,000 Further particulars are available: 8 marks
   • (a) Depreciation to be provided during the year at 10% on the Straight Line Method
   • (b) Sale Proceeds of Old Machinery Rs. 3, 00,000
   • (c) There was an addition to Machinery on 30-6-2024 for Rs. 6, 00,000 and the original cost and depreciation provided on the machine sold were Rs. and Rs. 4, 00,000 Prepare the schedule of Fixed Assets
10. Q4 (B) From the following balances, you are required to prepare the Balance Sheet as Per Revised Schedule III of the Companies Act. (07) Profit and Loss A/c 12% Debentures Cash at Bank
11. Q5 A) Discuss the code of ethics towards different stakeholders. 8 marks
    • B) Describe the uses of financial statements. 7
12. Q5 C) Write short notes on: (Any 3) 15 marks
    • 1) Rebate on Bills Discounted
    • 2) Reinsurance
    • 3) Contingent Liability

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