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    Fybcom Sem1 Accounts Sample Question Paper With Answer

    Uploaded by

    Jay Pawar
    The document contains a sample question paper for an Accountancy and Financial Management exam with 10 multiple choice questions. The questions cover topics like capital vs revenue expenditures, preparing final accounts, calculating raw material consumed, interest calculation, cost allocation methods, accounting standards. An answer key is provided for the 10 questions.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Fybcom Sem1 Accounts Sample Question Paper With Answer

    Uploaded by

    Jay Pawar
    188 views2 pages
    The document contains a sample question paper for an Accountancy and Financial Management exam with 10 multiple choice questions. The questions cover topics like capital vs revenue expenditures, preparing final accounts, calculating raw material consumed, interest calculation, cost allocation methods, accounting standards. An answer key is provided for the 10 questions.

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    fybcom sem1 Accounts Sample Question paper with Answer

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    The document contains a sample question paper for an Accountancy and Financial Management exam with 10 multiple choice questions. The questions cover topics like capital vs revenue expenditures, preparing final accounts, calculating raw material consumed, interest calculation, cost allocation methods, accounting standards. An answer key is provided for the 10 questions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    188 views2 pages

    Fybcom Sem1 Accounts Sample Question Paper With Answer

    Uploaded by

    Jay Pawar
    The document contains a sample question paper for an Accountancy and Financial Management exam with 10 multiple choice questions. The questions cover topics like capital vs revenue expenditures, preparing final accounts, calculating raw material consumed, interest calculation, cost allocation methods, accounting standards. An answer key is provided for the 10 questions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Bharatiya Vidya Bhavan’s Hazarimal Somani College of Arts and Science, Shri Manubhai

    Maneklal Sheth Junior College of Arts and Science and Jayaramdas Patel College of Commerce
    and Management Studies, Chowpatty, Mumbai 400 007

    Programme: F.Y.B.Com.
    Semester: I
    Course (Subject or Paper title and Number): Accountancy and Financial Management - I

    Sample Question Paper

    1. Purchase of 5 Bikes by Domino’s Pizza for Delivery, for Rs 300,000. This Transaction is
    ___________
    a. Capital Expenditure
    b. Revenue Expenditure
    c. Capital Receipt
    d. Revenue Receipt

    2. Bad Debts Recovered Rs 6000. This Transaction is ___________


    a. Capital Expenditure
    b. Revenue Expenditure
    c. Capital Receipt
    d. Revenue Receipt

    3. While Preparing Final Accounts of Manufacturing Concern, Factory Rent is recorded in


    _________
    a. Manufacturing Account
    b. Trading Account
    c. Profit and Loss Account
    d. Balance Sheet Liability Side

    4. Calculate Raw Material Consumed, from the information given below:


    Opening Stock of Raw Material – Rs 30,000
    Closing Stock of Raw Material – Rs 40,000
    Purchase of Raw Material – Rs 200,000
    Carriage on Purchase of Raw Material – Rs 15,000
    a. Rs 285,000
    b. Rs 115,000
    c. Rs 205,000
    d. Rs 225,000

    5. Mr Amit Purchased a Car, Cash Price of which was Rs 500,000. Mr Amit Agreed to Pay Rs
    200,000 as Down Payment and Rs 3 installment of Rs 120,000 each. Calculate Amount of
    Interest paid by My Amit.
    a. Rs 20,000
    b. Rs 60,000
    c. Rs 160,000
    d. Rs 300,000

    6. Power is allocated on the basis of ------------ of each department


    a. No. of electric points
    b. Rent
    c. Net loss
    d. Net profit

    7. Depreciation is allocated on the basis of ------------ of each department.


    a. Value of assets
    b. General Profit & Loss A/c
    c. Purchase
    d. Sales

    8. Which of the following will be allocated in the sales ratio?


    a. Purchases
    b. opening stock
    c. Commission
    d. closing stock

    9. Accounting Standard 1 (AS 1) Deal with _________


    a. Valuation of Stock
    b. Disclosure of Accounting Policy
    c. Revenue Recognition
    d. Hire Purchase Transection

    10. ABC ltd had 2000 books as opening stock valued @ Rs 24,000, during the year they
    Purchased 3000 books @ Rs 14 each. Out of the total books they sold 4200 books @ Rs 20
    each. Calculate value of Closing Stock.
    a. Rs 9600
    b. Rs 16,000
    c. Rs 42,000
    d. Rs 11,200

    Answer Key
    1- a 2- d 3- a 4- c 5- b
    6- a 7- a 8- c 9- b 10- d

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