BBA (Sem. - 2nd) FINANCIAL ACCOUNTING SUBJECT CODE : BB - 201 Paper ID: {C0207}

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Total No. of Questions : 07]

{Total No. of Pages : 02

BBA (Sem. - 2^nd) FINANCIAL ACCOUNTING SUBJECT CODE : BB - 201 Paper ID: {C0207}

|Note: Please fill subject code and paper ID on OMR)

Time : 03 Hours                                                                                                            Maximum Marks : 60

Instruction to Candidates:

1)            Section - A is Compulsory.

2)            Attempt any Four questions from Section - B.

Section - A

Ql)                                                                                                                                                                (10x2 = 20)

a)  Explain briefly entity concept of accounting.

b)        What are current asset and liquid asset? Give suitable example

c)        Define the term capital.

g)      Does trial balance disclose all errors?

h)      Why do we need suspense account?

i)      Mention important features of depreciation.
j)       Explain briefly the concept of adjustments.

Section - B

(4* 10 = 40)

Q2)  What is accounting? Explain its objectives and needs.

Q3)  Explain undercasting and overcasting. How will you rectify their errors?

Q4)  Explain reducing value method of depreciation in detail.

Q5)  Explain the rules of debit and credit in detail.

Q6)  What is bank reconciliation statement? Give reasons for its preparation.

Q7) Explain the concept of balance sheet? Differentiate between profit and loss account and balance sheet.