Please select a subject first
Advertisements
Advertisements
State true or false with reason.
Financial Statement includes only Balance Sheet.
Concept: Concept of Financial Statement Analysis
Following is the Balance Sheet of Mahi Traders for the year ended 31-3-2018 and 31-3-2019:
| Liabilities | 31-03-2018 (₹) | 31-03-2019 (₹) | Assets | 31-03-2018 (₹) | 31-03-2019 (₹) |
| Equity Share Capital | 1,60,000 | 1,60,000 | Fixed Assets | 2,40,000 | 2,88,000 |
| Pref. Shares Capital | 40,000 | 40,000 | Investment | 40,000 | 40,000 |
| Reserve and Surplus | 40,000 | 48,000 | Current Assets | 1,20,000 | 96,000 |
| Secured Loan | 80,000 | 32,000 | |||
| Unsecured Loan | 40,000 | 72,000 | |||
| Current Liabilities | 40,000 | 72,000 | |||
| 4,00,000 | 4,24,000 | 4,00,000 | 4,24,000 |
Prepare Common Size Balance Sheet for the year 31-03-2018 and 31-03-2019
Concept: Concept of Financial Statement Analysis
Convert following Trading Account and Profit and Loss Account into Vertical Income Statement:
| Dr. | Trading, Profit and Loss Account for the year ended as on 31st March,2020 |
Cr. | |
| Particulars | Amount ₹ | Particulars | Amount ₹ |
| To Opening stock | 20,000 | By Sales | 1,20,000 |
| To Purchases | 90,000 | By Closing Stock | 30,000 |
| To Carriage inward | 500 | ||
| To Wages | 10,000 | ||
| To Gross Profit c/d | 29,500 | ||
| Total | 1,50,000 | Total | 1,50,000 |
| To Office expenses | 12,500 | By Gross Profit b/d | 29,500 |
| To Selling expenses | 10,000 | ||
| To Finance expenses | 3,000 | ||
| To Net Profit c/d | 4,000 | ||
| 29,500 | 29,500 | ||
Concept: Concept of Financial Statement Analysis
Convert the following Trading and Profit and Loss Account into Vertical Income Statement:
| Dr. | Trading, Profit and Loss Account (for the year ended 31st March, 2020) |
Cr. | |
| Particulars | Amount (₹) |
Particulars | Amount (₹) |
| To Opening stock | 50,000 | By Sales | 6,00,000 |
| To Purchases | 4,50,000 | By Closing Stock | 1,50,000 |
| To Carriage | 20,000 | ||
| To Direct expenses | 30,000 | ||
| To Wages | 50,000 | ||
| To Gross Profit c/d | 1,50,000 | ||
| Total | 7,50,000 | 7,50,000 | |
| To Office expenses | 62,500 | By Gross Profit b/d | 1,50,000 |
| To Finance expenses | 15,000 | ||
| To Selling expenses | 50,000 | ||
| To Net Profit c/d | 22,500 | ||
| Total | 1,50,000 | 1,50,000 | |
Concept: Concept of Financial Statement Analysis
Give the word term or phrase which can substitute the following statement:
The process by which all the calculations are automatically done by the accounting software.
Concept: Computerized Accounting System (CAS)
Give the points of difference: Manual Accounting and Computerized Accounting.
Concept: Computerized Accounting System (CAS)
What is Hardware?
Concept: Computerized Accounting System (CAS)
Define or explain the following concepts:
Slicing method
Concept: Micro Economics - Slicing Method
Give reasons or Explain the following statements
Microeconomics is useful to the government.
Concept: Micro Economics - Useful to Government
State whether the following statement is true or false.
Micro Economic theory assumes full employment.
Concept: Assumption of Micro Economic Analysis
Give reason or explain the following statement:
Micro economic theories based on certain assumptions.
Concept: Assumption of Micro Economic Analysis
Fill in the blanks using proper alternatives given in the bracket.
When Government revenue exceeds government expenditure. It is known as a _______________ budget.
Concept: Micro Economics - Useful to Government
Match the following:
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 1) | Price Discrimination |
| b) | Medicines | 2) | Legal tender money |
| c) | Monopoly | 3) | Government bank |
| d) | Currency Notes | 4) | Utility from last unit. |
| e) | Central Bank | 5) | Inelastic demand |
| 6) | Commercial bank | ||
| 7) | Utility of all units | ||
| 8) | Elastic demand |
Concept: Use of Marginalism Principle in Micro Economics
Write whether the following statement is True or False:
Price theory is the base of micro economic analysis.
Concept: Micro Economics - Price Theory
Define of Explain the following concept.
Market
Concept: Analysis of Market Structure
Distinguish between Any FOUR of the following :
Income method and Expenditure method.
Concept: Micro Economics - Slicing Method
Rewrite the following sentences by using proper substitute given in the bracket:
The nature of the market of barter system is ________.
Concept: Analysis of Market Structure
Rewrite the following sentences by using proper substitute given in the bracket:
There is lack of ________ in monopoly.
Concept: Analysis of Market Structure
State whether the following statements are TRUE or FALSE :
The problems of Nation are studied in the micro economy.
Concept: Assumption of Micro Economic Analysis
Fill in the blanks with appropriate alternatives given in the bracket.
If the price of the inferior goods falls, the demand for them will ________.
Concept: Micro Economics - Price Theory
