NIFTEM-Managerial Accounting- FBM 122- End Semester Question Paper Jun 2017- 2nd Sem

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.

 

 

Important points-

  1. Time- 3:00 hours
  2. Total Marks- 100
  3. 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
  4. 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.

 

 

PART B 

 

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:

  1. Commenced business with cash Rs. 250,000
  2. Deposited into bank Rs. 11000
  3. Sold goods for cash Rs. 55000
  4. Rent received Rs. 1000
  5. 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)-

 

PARTICULARS AMOUNT
Stocks as on April 1, 2004 4000
Sales 96000
Sales return 8000
Purchases 66400
Purchases return 8400
Rent and taxes 1200
Wages 5000

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.

 

PART C

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-

  1. BEP (Break-Even Point)
  2. MOS (Margin of Safety)
  3. Importance of Marginal Costing

Best of Luck !!

 

See other papers

NIFTEM-Basic Chemistry- End Semester Question Paper Dec 2019- 1st year

NIFTEM-Basic Electrical Engineering- End Semester Question Paper Dec 2019- 1st year

NIFTEM-Physics- End Semester Question Paper Dec 2019- 1st year

 

 

Source- Question Papers collected by Soumen Roy

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