Business Administration - Paper MMBACCT 103
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Questions and Answers

What sequence appears frequently in the content?

  • gsss
  • 2222222 (correct)
  • nnnnnn
  • :ssss (correct)

    • Which of the following patterns could suggest repetition?

  • .s)..s
  • )?gss) (correct)
  • s.s)s.s)
  • ysssss: (correct)

    • Identify the pattern that appears to represent a question in the content.

  • sss )yss)
  • ss)s sssssss
  • s)?g)
  • ?:s)s (correct)

    • Which of the following sequences is used to denote a proper ending or conclusion?

    <p>.ssss</p> Signup and view all the answers

    What common character is used as a separator or to indicate continuity?

    <p>:</p> Signup and view all the answers

    Which symbol seems to represent emotional context or response in the content?

    <p>:)</p> Signup and view all the answers

    Identify the combination that appears to share a common thematic link with the rest.

    <p>sgsss</p> Signup and view all the answers

    What structure indicates a form of complexity or multiple components within the content?

    <p>ss)s):s</p> Signup and view all the answers

    What is the primary focus of the content?

    <p>Exploration of systems and their interactions</p> Signup and view all the answers

    Which statement best captures the tone of the content?

    <p>Technical and analytical</p> Signup and view all the answers

    What type of language is predominantly used in the content?

    <p>Jargon-filled and complex terminology</p> Signup and view all the answers

    What kind of interactions are discussed in the content?

    <p>Systematic interactions between components</p> Signup and view all the answers

    Which of the following best describes the complexity mentioned in the content?

    <p>High complexity with numerous variables</p> Signup and view all the answers

    What is the likely audience for the content?

    <p>Professionals in technical fields</p> Signup and view all the answers

    What aspect of systems is least emphasized in the content?

    <p>Emotional impacts of systems</p> Signup and view all the answers

    What is a likely consequence of the interactions discussed?

    <p>Unpredictable outcomes in systems</p> Signup and view all the answers

    What is the primary symbol used in the text?

    <p>s</p> Signup and view all the answers

    What does the combination 'ss)' suggest in the text?

    <p>A question</p> Signup and view all the answers

    Which of the following terms appears to be used to express uncertainty in the text?

    <p>0::s</p> Signup and view all the answers

    Which element is repeated frequently, indicating its importance?

    <p>:s</p> Signup and view all the answers

    What does the configuration 'sssss)' imply about the tone of the text?

    <p>Frustration</p> Signup and view all the answers

    Which group of symbols could denote a transition or change in thought?

    <p>sss:ss)</p> Signup and view all the answers

    What does the presence of 'yy' likely represent in the context?

    <p>Emotion</p> Signup and view all the answers

    What can be inferred about the content with the phrase ':s:s)'?

    <p>It suggests a questioning attitude.</p> Signup and view all the answers

    Which of the following phrases could represent an incomplete idea?

    <p>g?l</p> Signup and view all the answers

    What does the multiplicity of 's' in 'gsg)' likely indicate?

    <p>Complexity</p> Signup and view all the answers

    Which repeated pattern can suggest emphasis or importance?

    <p>:ss</p> Signup and view all the answers

    What is implied by the presence of 'sss)?' in the text?

    <p>A query</p> Signup and view all the answers

    What could '0s)' signify in the context?

    <p>A new start</p> Signup and view all the answers

    Which of the following seems to convey excitement or urgency?

    <p>yy,yyyy</p> Signup and view all the answers

    What does the repeating pattern 'ssl' likely represent?

    <p>Confusion</p> Signup and view all the answers

    Study Notes

    Business Administration - Paper MMBACCT 103

    • Full Marks: 80
    • Time: 4 hours
    • Internal Assessment: 20 marks
    • Instructions: Answer questions in own words. Figures in the right margin indicate marks.

    Question 1 - Answer any 10 of the following

    • a) Accounting Cycle Definition: Briefly describe the accounting cycle.

    • b) 2 Indian Accounting Standards (IAS): Briefly describe any two Indian Accounting Standards (IAS).

    • c) Accrual vs. Cash Accounting: Define accrual and cash basis of accounting.

    • d) Contingent Liability Example: Define contingent liability with an example.

    • e) Artificial & Representative Personal Accounts: Give one example of each: Artificial Personal Account and Representative Personal Account.

    • f) Trial Balance Objectives: State the two objectives of preparing a trial balance.

    • g) Purchase Return Journal Entry: Write the journal entry for a purchase return.

    • h) Capital, Revenue, or Deferred Revenue Expenditure: Identify whether the following are capital, revenue, or deferred revenue expenditure:

      • Carriage of machinery: 17,200 (revenue)
      • Research and Development: 1,20,000 (capital)
      • Servicing vehicle (including oil change): 3500 (revenue)
      • Basement construction: 14,75,000 (capital)

    • i) Cost Accounting Objectives: Write any two objectives of cost accounting.

    • j) Prime Cost Definition: Define prime cost.

    • k) Margin of Safety Definition and Context of Marginal Costing: Define margin of safety in the context of marginal costing.

    • l) Break-Even Point Indication: Define what Break-Even Point indicates.

    • m) Money Measurement Concept of Accounting: Define the Money Measurement Concept of accounting.

    • n) Direct and Indirect Cost Example: Give one example of direct cost and indirect cost.

    Question 2 - Answer any 4 of the following (5 marks each)

    • a) Journal Entries: Journalise the following financial transactions:
      • Payment to Mr. X (creditor): Rs. 1,25,500
    • Other 3 Questions (omitted): (Details of remaining questions omitted).

    Question 3 - Answer any 4 of the following (10 marks each)

    • a) Accounting Concepts: Discuss Business Entity, Going Concern, Cost Concept, and Accounting Period concept.
    • b) Depreciation Policy: Write the objectives of depreciation policy and the calculation of plant depreciation (using Diminishing Balance Method) for a machine purchased on 01.04.2018 for Rs. 10,00,000, over three years, charging depreciation at 8% per annum in a plant account.
    • c) Trial Balance: Prepare the trading account, profit & loss account, and balance sheet as on 31.03.2022 from the given trial balance and additional information.
    • Additional Information:
      • Closing Stock: Rs. 72.600
      • New Machine Installation: Rs. 15,400 (not recorded)
      • Wages for machine erection: Rs. 1,100
    • d) Short Notes (4): Write short notes on manufacturing (mfg) account, double entry system, semi-variable costs, and margin of safety.
    • (Additional information omitted): (details for remainder of question omitted).

    Question 4 - Answer any 4 of the following (10 marks)

    • a) Cash Break-Even Point : Explanation and Importance of preparing final accounts
    • b) Final Accounts Detail: Importance of final accounts and Bad Debts provision and its position in Balance Sheet
    • c) Limiting Factor: Elaborate on the concept of limiting factors in decision-making.
    • d) New Product Introduction Advice: Advise the management (B.Ltd) on the profitability of introducing a new product (Y) given the details of the existing product (X).

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    Description

    This quiz focuses on fundamental concepts in accounting as part of the Business Administration curriculum. It covers topics such as the accounting cycle, accounting standards, cash vs. accrual accounting, and more. Ideal for assessing knowledge and understanding of key accounting principles.

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