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Questions and Answers
What is the primary objective of the Fundamentals of Financial Accounting course at SAGE UNIVERSITY INDORE?
What is the primary objective of the Fundamentals of Financial Accounting course at SAGE UNIVERSITY INDORE?
- To develop the skill of recording financial transactions and preparation of financial statements
- To identify and analyze the reasons for the difference between cash book and pass book balances with the help of BRS
- To provide an insight into the basics of accounting concepts and systems (correct)
- To equip students with the knowledge of the accounting process and preparation of journal and subsidiary books
Which type of books is included in the Subsidiary Books as part of the course content?
Which type of books is included in the Subsidiary Books as part of the course content?
- Sales Book, Sales Return Book, Purchase Book
- Cash Book, Sales Book, Purchase Book
- Cash Book, Sales Return Book, Purchase Return Book (correct)
- Cash Book, Sales Book, Purchase Return Book
What does the course cover in terms of financial statements preparation?
What does the course cover in terms of financial statements preparation?
- Preparation of Manufacturing Account, Trial Balance, Balance Sheet including GST
- Preparation of Trading Account, Profit and Loss Account, Balance Sheet including GST (correct)
- Preparation of Manufacturing Account, Trading Account, Profit and Loss Account
- Preparation of Trial Balance, Balance Sheet including GST
What is a key focus under the unit 'Nature and scope of accounting' in the course?
What is a key focus under the unit 'Nature and scope of accounting' in the course?
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What is one of the prerequisites for the Fundamentals of Financial Accounting course?
What is one of the prerequisites for the Fundamentals of Financial Accounting course?
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Study Notes
Fundamentals of Financial Accounting Course at SAGE UNIVERSITY INDORE
- The primary objective of the course is to understand the fundamental principles and concepts of financial accounting.
Subsidiary Books
- The course covers the following types of books as part of the Subsidiary Books: Sales Book, Purchase Book, Bills Receivable Book, Bills Payable Book, and Cash Book.
Financial Statements Preparation
- The course covers the preparation of financial statements, including the Balance Sheet and the Income Statement.
Nature and Scope of Accounting
- A key focus under this unit is to understand the importance of accounting in business decision-making.
Course Prerequisites
- One of the prerequisites for the Fundamentals of Financial Accounting course is a basic understanding of accounting principles and concepts.
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