NIFTEM-Managerial Accounting- FBM 122- End Semester Question Paper Jun 2017- 2nd Sem
The information shared below is only to get a rough idea of NFTEM’s end semester question paper pattern. However, questions proportion from the syllabus topics may vary every semester.
- Time- 3:00 hours
- Total Marks- 100
- Three parts A, B & C, in which Part A is compulsory of (30 marks) having Objective questions, MCQs, Fill in the blanks and matching type questions. Students have to answer the questions from Part-A on the paper itself. Time allotted for Part-A is 40 minutes
- Part B & part C consists of 40 marks and 30 marks respectively. Part B- 8 questions of 5 marks each & Part C- 3 Questions of 10 marks each. Time for Part-B and C is total of 2:20 hours.
Answer any 8 questions from the following-
1. Explain the factors to be considered for make or buy decision under short-run alternative choices.
2. Write a note on various users of accounting information.
3. Journalize the following transactions:
- Commenced business with cash Rs. 250,000
- Deposited into bank Rs. 11000
- Sold goods for cash Rs. 55000
- Rent received Rs. 1000
- Commission paid Rs. 500
4. Explain Real account, Personal account and Nominal account with examples?
5. Iron Inc uses a periodic inventory system. The purchases of a particular product for the year are as given below-
|Jan 1||Opening Inventory||500 units @ Rs. 5||2500|
|May 5||Purchases||500 units @ Rs. 10||5000|
|Aug 8||Purchases||1000 units @ Rs. 8||8000|
|Dec 5||Purchases||500 units @ Rs. 5||2500|
At Dec 31, the ending inventory consisted of 1000 units. Calculate the cost of goods sold (COGS) during the year based on the LIFO method of inventory valuation.
6. Differentiate between Trial Balance and Balance Sheet of a firm.
7. From the information provided below, Calculate the GPR (Gross Profit Ratio) and Net Profit Ratio( NPR)-
|Stocks as on April 1, 2004||4000|
|Rent and taxes||1200|
Additional info provided- Closing Stock as on March 31, 2005, was Rs. 42500
8. What are the steps in Budgetary control?
9. Calculate Break-Even Point (BEP) and Margin of Safety (MOS)-
Sales = 50,000 units per annum
Selling price= Rs. 6 per unit
Variable cost= Rs. 4 per unit
Fixed Cost= Rs. 75000 per annum
10. Describe Contribution and its advantages.
Answer any 3 questions from the following-
1. What do you mean by Financial Accounting? Explain the main limitations of Financial Accounting. Also, differentiate Financial Accounting and Management Accounting.
2. From the following Trial Balance, prepare a Trading and Profit and Loss Account for the year ending 31st March 2012.
3. What do you mean by Depreciation? Explain any five methods in detail to charge depreciation with suitable examples.
4. What do you mean by Cash FLow statement? Prepare its format by using the Indirect method with imaginary figures.
5. Briefly explain the following-
- BEP (Break-Even Point)
- MOS (Margin of Safety)
- Importance of Marginal Costing
Best of Luck !!
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Source- Question Papers collected by Soumen Roy