\

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: ACCOUNTANCY AND FINANCIAL MANAGEM~N~\, "rJ./ _

Marks: 20 Date : ~Roll No. :

Q.1 (a) Fill in the blanks: [2Y2](1) The Inventory System employing accounting records that

continuously disclose the amount of inventory is called

(periodic, perpetual, physical, retail)(2) When physical stock is taken on a date after year-end

purchases between year end and date of counting are

(added, deducted, ignored)(3) When physical stock taken on last day of accounting year, in

order to derive the Closing Stock, cost of goods purchasedbut not yet received is .(added, deducted, ignored)

(4) The inventory pricing method based on the most recentlyincurred purchases in the closing inventory is _(FIFO, Simple Average, Weighted Average, LIFO)

(5) Inventories should be valued at _(Cost, retail price, realizable value, lower of cost and netrealizable value)

(b) State whether following statements are True or False: [2%](1) Damaged inventory should be valued at cost or market price

whichever is lower.(2) Value of Closing Stock is equal to Opening Stock +

Purchases - Sales.(3) Capital expenditure is non-recurring in nature.(4) Revenue expenditure is recurring in nature.(5) Revenue receipts include the receipts for use of funds.

Q.2 Answer in one sentence: [5](1) Under which method, the value of inventory is equal to the actual

cost of the units in stock?(2) What do you mean by physical verification of stock?(3) What will be treatment for discount on issue of Debentures?(4) The expenditure which carry future benefits.(5) Under this, it is assumed that the units are issued of random

order.

Q.3 Solve the following: (AnyTWO)p..) k

[101db Fl 0"From the touowrng particulars, prepare stoc recor >y F

Date Transactions Units Rate04.01.2004 Purchase 40 3017.01.2004 Purchase 60 2820.01.2004 Sale 50 3522.01.2004 I Purchase 80 2925.01.2004 Sale 80 3328.01.2004 Sale 20 3430.01.2004 Purchase 100 2631.01.2004 Sale 90 35

The stock on hand on 1st January, 2004 wa 50each.

@ ~ 25

(2) Mr. Vijay's financial year ends on 30th June _0stock is not taken until the following 8th .Jui .r »

ascertained at ~ 7,425. You find that(i) Sales are entered in the ale Boo

dispatched and return inward in e reday the goods are received back.

(ii) Purchases are entered in the Pu cl iainvoice are received.

(iii) Sales between 30th June, 200Sales Day Book and Cash Boo ..

(iv) Purchase between 30th June, 20the Purchase Day Book are ~ 6 O.

(v) Goods purchased involved d

received until after is 33~0 c3

.. actual...en it is

the

per the

- as per

not

(vi) Rate of Gross Profit is 33 - or3

Ascertain the value of stock on 3

(3) State, with reason, whethe ..Capital or Revenue Expenditure

Amount spent on unifohi eo. 'ashing of the tact ..

C .. 0: tore CO~l;:'~.1I'-U.

ng as

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: INTRODUCTION TO ELEMENTS OF COS~ _J .:>Marks: 20 Date: . OK! J ~

Roll No. :

Q.1 (A) State whether True or False: (% mark each)(1) Carriage Expenses on Raw Materials is always a direct cost.(2) Directors' remuneration and expenses form part of selling

overheads.(3) Prime Cost is also termed as Indirect Cost.

(B) Choose the correct alternative: (% mark each)(1) Process Costing is suitable for _

(a) Hospitals (b) Oil Refining firm(c)Transport firm (d) Brick laying firm

(2) Which of the following person is directly associated withCost Accounting?(a) Financial Manager (b) Financial Accountant(c)Auditors (d) Cost Accountant

(3) Fixed Cost is a cost which(a) Varies (b) Increases(c) Decreases (d) Remains fixed

(C) Classify the following items on the basis of functions: (AnySIX)(1) Audit Fees(2) Unproductive Wages(3) Stationery(4) Carriage Outward(5) Agent's Commission(6) Gas and Water(7) Telephone Charges(8) Legal Charges

Q.2 Answer in one sentence: (1 mark each)(1) Fixed Cost(2) Costing(3) Branches of Accounting(4) Abbreviation of ICWAI(5) Selling Overheads

[5]

Q.3 Answer any TWOof the following:(1) From the following information, calculate EOQ.

Annual Demand 1,250 unitsOrdering Cost ~ 40 per orderInventory carrying cost Re. 1 per unit

[10]

(2) Calculate Stock Turnover from the following:Opening Stock 80,500Closing Stock 62,500Purchases 1,25,000

(3) From the following, calculate:(i) Minimum Level(ii) Maximum Level(iii) Reorder Level

Maximum usage 600 unitsMinimum usage 400 unitsNormal usage 350 unitsTime lag in procurement of materials:Maximum 6 months, Minimum 2 monthsReorder quantity 1,500 units

Marks: 20

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: BUSINESS COMMUNICATION ~ ~l fA I r:Date:~

Roll No. :

Q.1 Fill in the blanks: (% mark each) [5](1) speak louder than words.(2) Feedback is readily given in an atmosphere of _(3) Muddled layouts suggest ideas.(4) Written communication provides a record.(5) Communicate as a means our bodies, minds and

emotions all take part in the communication process.(6) The English words 'sign' and 'signal' are both derived from the

Latin word _(7) communication is effective with illiterate people.(8) A hand-in pockets posture indicates(9) Ex-communication is a _ .. _(10) Peter Little in his book "__ " has defined communication

in detail.

Q.2 Answer the following in one sentence: [5](1) Give Keith Davies definition on communication.(2) What is Negative Feedback?(3) What are the seven C's of effective oral communication.(4) What is decoding?(5) What is face to face communication?

Q.3 Write short notes on any TWOof the following: [10](1) Characteristics of human communication.(2) Compare oral and written communication.(3) Principles of effective communication.

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: BUSINESS ENVIRONMENTDate:Marks: 20

Roll No. :

Q.l (A) Fill in the blanks: [2](1) Business ethics create a good for the business

and ~(2) Objectives should always be bound by certain _

frame.(3) Internal environment can be

(B) State whether the statements are True or False: [3](1) Business environment is the aggregate of all conditions,

events and influences that surround and affect it.(2) An integrated approach towards business environment is

not necessary.(3) The term 'ethics' and 'morals' are etymologically, that IS,

from their very roots or terms, different.(4) Business ethics helps to stop business malpractices.(5) 'Economic' means development of the wealth of the

company.(6) PESTEL analysis is one of the technique of business

environment.

Q.2 Answer in one/two sentences: [5](1) What is business objective?(2) How business environment helps in identifying opportunities?(3) Define Business Environment.(4) What do you mean by business ethics?(5) Explain the concept of consumer rights.

Q.3 Answer in detail: (AnyTWO) [10](1) Discuss importance of business objectives.(2) Discuss internal environmental factors of the organisation.(3) Explain importance of business ethics.

Roll No. :

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: MICRO-ECONOMICSMarks: 20 Date:

Note: All questions are compulsory.

Q.1 (a) State whether the following statements are True or False :[2%](1) In case of Giffen goods, as the price falls, demand rises.(2) Income elasticity in case of normal goods is positive.(3) A variation in demand results into a shift of demand curve.(4) Opportunity cost is opportunity lost.(5) LACis a planning curve.

(b) Fill in the blanks from the words given in brackets: [2Y2](1) In case of substitutes, cross elasticity of demand is

(2) Micro-economics studies the behaviour of units.(3) LACis also called as an curve.(4) Isoquants slope _(5) Fixed cost is ._ of output.(envelope, positive, downward, independent, individual)

Q.2 Define the following concepts: (Any FIVE)(1) Demand(2) Giffen Good(3) Marginal Cost(4) Opportunity Cost(5) Production(6) Replacement Cost

[5]

Q.3 Attempt any TWOquestions from the following:(1) Write a short note on PPC.(2) Explain Production Function.(3) C 1 th £ 11 t bl

[10]

ompete e 0 OWInga e:Units TFC TVC TC AFC AVC TAC MC

0 121 203 50 344 90 ------ ----_. .

5 200 --.

F.Y.B.A.F. (SEM. I)(Class Test)

SUB: FOUNDATION COURSE: COMMERCIAl ENVIRONMENJ _Marks: 20 Date: ")3i <?i 1 {

Roll No. :

Q.l Fill in the blanks :(1) Trade can be classified as internal trade and trade.(2) Profession relates to an activity which involves the rendering of

_____ services of a specialized nature.(3) Expression of ideas, thoughts, etc. of a creative nature are

considered as property.(4) Business Ethics helps in the protection of the rights of _(5) An ethical business enterprise will pay the to the

government regularly.(6) Solar and wind energy can be called as energy.(7) Any substance or object which is thrown into the environment or

atmosphere is called a _(8) and cultural environments are two kinds of

environmen ts.(9) goods can be classified as durable and non-durable

goods.

Q.2 State whether the following statements are True or False: [5](1) Industries can be classified into Small Scale and Medium Scale.(2) Genetic industries are not concerned with reproducing and

multiplying plants and animals.(3) Non-calculable risks are those risks whose probability of

occurrence cannot be predicted in advance.(4) Business is not an economic activity.(5) Economic activities are those activities conducted by a human

being due to love and affection.

Q.3 Answer any TWOout of the following three sub-questions: [10](1) Economic activities can be classified into three categories. Name

the three categories and briefly explain anyone of them.(2) Mention briefly any THREE requisites of a successful business.(3) Describe briefly any TWOelements of the physical environment.

[5]