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Friday, 27 January 2017

Sample Questions To Attend Viva-Voce Of Accounting Practical Examinations – 2017

Sample Questions To Attend Viva-Voce Of Accounting Practical Examinations – 2017

1. What is the aim behind the preparation of a project on Accounting?

2. List out the objectives of your project work.

3. Summaries the planning about the completion of project work.

4. How did you collected data for the completion of project?

5. What are the contents of comprehensive Project?

6. Summaries your experience on each step undertaken for the completion of project work.

7. Why preparing projects at senior secondary level is necessary one?

8. Is there any difference in learning Accountancy from books and through projects?

9. Did you copy any contents for your project from previous year’s project work or from any websites?

10. How did your teacher guided you for the project work?

Comprehensive Problem [ Preparation of Financial Statements]

11. What is Accounting Equation?

12. What is personal Account rule?

13. What is nominal account rule?

14. What is real account rule?

15. What is journal?

16. What is Ledger?

17. Why journal is known as book of original entry?

18. Why ledger is known as book of final entry?

19. What is Capital?

20. What are liabilities? Give some examples.

21. What are assets? Give examples with classification.

22. What is Journalising?

23. What is L.F & J.F.?

24. What is double entry system of book keeping?

25. What is the role of Trial Balance?

26. What are the different financial statements?

27. What are the uses of preparing financial statements?

28. What is Trading Account?

29. Why we are preparing P&L account?

30. Differentiate Gross profit & Net profit.

31. What are the uses of preparing Balance Sheets?

32. What are the uses of keeping provisions?

33. Give examples for liquid assets.

34. What is the uses of Working Capital?

35. Give examples for prepaid and Outstanding Expenses.

Specific Problem – 1 [ Ratio Analysis]

36. What are the different tools of Financial Analysis?

37. What is an Accounting Ratio?

38. List out the objectives of Ratio Analysis.

39. What is SWOT analysis?

40. List the advantages of Ratio Analysis?

41. What are the different types of ratios?

42. List out the use of calculating Liquid Ratios.

43. How will you calculate current and liquid ratio?

44. What is Acid test ratio?

45. Why we are calculating Solvency Ratios?

46. List out the different solvency ratios and its way of calculation.

47. What is activity or turnover ratio?

48. List out the different Activity ratios and its way of calculation.

49. What is Profitability Ratio?

50. List out the different Profitability ratios and its way of calculation.

51. What is the conclusion on Ratio Analysis?

Specific Problem – 2 [Cash Flow Analysis]

52. What is Cash Flow Statement?

53. List out the objectives of preparing Cash Flow Statements.

54. Are there any benefits of preparing cash flow statements?

55. Differentiate Cash & Cash Equivalents.

56. List out the items coming under cash flow from operating activities.

57. List out the items coming under cash flow from Investing activities.

58. List out the items coming under cash flow from Financing activities.

59. How will you treat some extra ordinary items while preparing Cash Flow Statements?

60. Describe the procedure of preparing Cash Flow Statements.

61. What is the Conclusion of Cash Flow Analysis?

Sample Question for Accountancy Practical Exam 2017

AISSCE Practical Examination - 2017

Class: XII ACCOUNTANCY Marks: 12

Time: 1 Hrs.

General Instructions:

a) This Question Paper contains three questions. You have to answer all questions.

b) First two questions carry 3 marks each and third question carries 6 mark.

1. Following information is given by a company from its books of accounts as on March 31, 2015: [3]

Inventory 2,00,000

Total Current Assets 2,60,000

Shareholders’ funds 5,00,000

15% Debentures 3,00,000

Current liabilities 1,50,000

Net Profit Before Tax 3,50,000

Cost of revenue from operations 4,00,000

Calculate:

a) Debt Equity Ratio

b) Interest Coverage Ratio

c) Inventory Turnover Ratio

2. The quarterly report of a company gives the following information about sales revenue and net profit for the Second quarters of past three years. Compare the two quarters and find out which one better one. Comment which one is better. [3]

Particulars	2014-15	2014-13	2013-12
Sales Revenue Net Profit	2200000 500000	1800000 400000	1400000 200000

3. From the following Balance Sheet of Ashok Ltd. Prepare cash flow Statement:

Particulars	Note No.	Amount 2015	Amount 2014
1. Equity and Liabilities a) Shareholder’s Funds Share Capital Reserves and Surplus b) Non-Current Liabilities Long-term Borrowings c) Current Liabilities Trade Payables 2.Assets a) Non-current Assets Fixed Assets Non-current Investment b) Current Assets Inventory Trade Receivables Cash & Cash Equivalents	1 2 3	500000 305000 310000 95000	400000 210000 300000 80000
		1210000	990000
		700000 56000 280000 114000 60000	500000 70000 210000 140000 70000
		1210000	990000

Note to Accounts

Items	2015(Rs.)	2014(Rs.)
Reserves and Surplus General Reserves P&L Balance	115000 190000	100000 110000
Reserves and Surplus General Reserves P&L Balance	305000	210000
Long-term Borrowings 12% Debentures 14% Loan	150000 160000	200000 100000
Long-term Borrowings 12% Debentures 14% Loan	310000	300000
Trade Receivables Debtors Bills Receivables	94000 20000	125000 15000
Trade Receivables Debtors Bills Receivables	114000	140000

Additional Information:

Total Interest paid on long term borrowings during the year amounted to Rs. 37800. Prepare Cash flow statement. [6]

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