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BCA Semester II ECO-02 Assignments

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Questions and Answers

What is the last date for submission of the assignment for the July session?

31st October, 2024

What are the total maximum marks for the assignment?

100

What is the weightage of the assignment in percentage?

25%

What is the stock value on December 31, 2023?

Rs. 26,000 Signup and view all the answers

Match the following terms with their definitions:

Non-recurring Expenses = Expenses that are not expected to occur regularly Recurring Expenses = Regularly occurring expenses in a business Ordinary Commission = Standard commission on sales made Del Credere Commission = Commission with a guarantee against non-payment Signup and view all the answers

What is a Single-Entry System in accounting?

A bookkeeping method that tracks only cash inflows and outflows. Signup and view all the answers

What are the accounting concepts that guide accountants during the recording stage?

Consistency, Accrual, Going Concern, and Prudence. Signup and view all the answers

Study Notes

BCA – Semester II Assignments

Indira Gandhi National Open University (IGNOU) has released assignments for the Bachelor of Computer Applications (BCA) program.
The assignments are for the July 2024 and January 2025 sessions.
The courses covered include ECO-02, MCS-011, MCS-012, MCS-015, MCS-013, BCSL-021 and BCSL-022.

ECO-02 - Accountancy-1

The assignment has five questions totaling 100 marks.
Question 1: Prepare Trading and Profit and Loss Account for Lakshmi & Co. for the year ended December 31, 2023.
Question 2: Distinguish between:
- Non-recurring and Recurring Expenses
- Ordinary Commission and Del Credere Commission
- Account Sales and Invoice
- Normal Loss and Abnormal Loss
Question 3: Explain the accounting concepts guiding the accountant at the recording stage.
Question 4:
- Define Single-Entry System and its features.
- Explain its drawbacks and limitations.
- Explain the procedure for converting a Single-Entry System to a Double-Entry System.
The deadline for submission is 31st October, 2024 (July session) and 30th April, 2025 (January session).

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Description

This quiz covers the assignments for the ECO-02 Accountancy-1 course under the BCA program at IGNOU for July 2024 and January 2025 sessions. It includes key topics such as preparation of financial statements, distinguishing between various types of expenses and commissions, and an overview of accounting concepts and systems. Test your understanding and knowledge on these critical accounting principles.