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M E S ASMABI COLLEGE, P- VEMBALLUR
SIXTH SEMESTER B.COM DEGREE (Co- Operation) FIRST INTERNAL EXAMINATION
JANUARY 2019
AUDITING
TIME: 2 HOURS MAXIMUM MARKS : 50
Section A
Answer all questions
1. Define Auditing.
2. What is Social audit?
3. Who is tax auditor?
4. What is meant by disclaimer of opinion?
5.What is an error of principle?
(5x2=10 marks)
Section B
Answer any five questions
6. What are the difference between auditing and accountancy?
7. What are the basic principles of auditing?
8. “Auditor as a watch dog and not a blood hound” - Discuss
9. Explain the procedure of Tax audit under Sec 44AB
10.What are the advantages of auditing?
11.What are the objects of investigation?
12.What are the professional qualities of an auditor?
(5x5=25 marks)
Section C
Answer any one question
13. What are the objects of auditing?
14.What are the recent trends in auditing?
(15x1 =15 marks)
M E S ASMABI COLLEGE, P- VEMBALLUR
SIXTH SEMESTER B.COM DEGREE (Co- Operation) FIRST INTERNAL EXAMINATION JANUARY 2019
BC6 B14– INTERNATIONAL CO-OPERATIVE MOVEMENT
TIME: 2 HOURS MAXIMUM MARK : 50
Section A
Answer any five questions
1.What is Brigade?
2.What is MTS?
3.Define labour artels
4.What is Induscos?
5.What is Creameries?
6.What is AAFCOOP?
7.What is ESOP model?
(5x2=10 marks)
Section B
Answer any five questions
8.What is TFC? How it functions?
9.Write a short note on Coffee Arabica.
10.What is ACCOSCA? How it functions?
11. Write a note on DGICM.
12.What are the various types of employment offered by co-operatives in Africa?
13.Discuss the promotion policies adopted by African co-operatives in employment sector.
14.Discuss the working of savings and credit co-operatives in Africa.
(5x4=20 marks)
Section C
Answer any two questions
15.Explain the dairy co-operatives in Denmark.
16.Write an essay on the collective farms in USSR.
17.Distinguish between Raiffeisen and Schultz.
(2x10=20 marks)
M E S ASMABI COLLEGE, P- VEMBALLUR
SIXTHSEMESTER B.COM DEGREE (Co- Operation)FIRST INTERNAL EXAMINATION
JANUARY2019
INCOME TAX LAW AND PRACTICE
TIME: 2 HOURSMAXIMUM MARKS : 50
Section A
Answer all questions
1.What do you mean by casual income?
2. What is cost inflation index?
3. What is the difference between assessment year and previous year?
4. What is tax evasion?
5. Statethe rule of calculatingthe annual value of a house property?
(5x2=10marks)
Section B
Answerany fivequestions
6. Describe the exceptions to the taxation of previous year’s income during the same year?
7. Draw the format of the statement showing income from salary?
8.What are the tax-free commercial securities?
9. Mr Ram gives you the following particulars of his income for the previous year
2017-18.Compute his gross total income.
1. Dividend on equity shares Rs1,500
2. Dividend on preference shares (Gross) Rs7,500
3. Income from letting on building & machinery Rs82,000
4. Interest on bank deposit Rs5,000
5. Directors sitting fees Rs2,400
6. Ground rent Rs2,300
7. Income from undisclosed sources Rs10,000
8. Winning from lottery (Net) Rs24,000
9. Collection charges of dividend Rs500
10. Depreciation allowable Rs6,000
11. Fire insurance on building and machinery Rs300
10.What are the deductions expressly allowed in the calculation of profits and gains of business or profession?
11. List out the rate of Income Tax in all cases?
(5x5=25 marks)
Section C
Answer essayquestion
12. A banking company has prepared the following profit and loss account for the year ended March 31, 2018:
Rs Rs
Interest paid on deposits 2,00,000 Interest on overdraft 60,000
Salaries and allowances 1,50,000 Interest on cash credits 1,00,000
Rent and Taxes 20,000 Interest on loans 3,00,000
Postage and Telegrams 10,000 Interest on securities 1,20,000
Stationery and Printing 8,000 Commission 40,000
Depreciation 40,000 Rent of buildings (Mortgaged with the bank) 60,000
Other expenses 20,000 Underwriting commission 30,000
Proposed Dividends 80,000 Profit on sale of shares underwritten 70,000
Provision for Income Tax 1,50,000
Bad Debts provision 40,000
Profit to Balance sheet 62,000
7,80,000 7,80,000
Compute the business income of the banking company for the relevant assessment year.
(15x1=15 marks)
DEGREE INTERNAL EXAMINATION, OCTOBER 2018
(CUCBCSS-UG)
BC6B15-Co-operative Management & Administration
Time: Two Hours Maximum: 50
PART A
Answer the following. Each Question carries Two Questions.
1. What is General body?
2. What is representative general body?
3. Who is a liquidator?
4. What is Co-operative education fund?
5. How to dispose the net profit of a co-operative society?
6. What is Execution? (6x2=12 marks)
PART B
Answer any Two Questions. Each Question carries four marks.
7. Explain the properties and funds of co-operative societies.
8. Explain state and co-operatives.
9. Explain settlement of disputes.
PART C
Answer any Two Questions. Each question carries 15 marks.
10. Explain the winding up of a Co-operative society.
11. Explain the procedure of conducting election in a co-operative society.
12. What are the privileges of co-operative societies.
(15x2=30 marks)
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Fifth SemesterFirst Internal Examination August 2018
BC5D03- Basic Accounting (Open course)
Duration :2hrs Marks:40
Answer all Questions. Each carries 1 mark.
1. Cash account is ------------- account.
2. Capital account is ------------------ account.
3. The process of recording transactions in a journal is called------------
4. Father of Accounting is ------------
5. Cash withdrawn by the owner for personal use is known as-----------------
Answer all Questions. Each carries 2 marks.
6. Who is a debtor?
7. Draw a format of an account.
8. Who is a creditor?
9. Write the rule of personal account.
Answer any three questions. Each carries 4marks.
10. What are the advantages of accounting?
11. Write a short note on financial accounting?
12. Write the rules for Debit and Credit.
13. Journalize the following transactions.
a) Commence business with cash RS.10000
b) Purchase goods Rs.5000
Answer any one Question. Each carries 15 marks.
14. Define Accounting. What are the advantages and limitations of accounting?
15. What are the concepts, Conventions and principles of accounting?
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MES ASMABI COLLEGE, P VEMBALLUR
FIFTH SEMESTER B.COM CO-OPERATION
SECOND INTERNAL EXAMINATION OCTOBER 2018
BCSB11 - LEGAL ENVIRONMENT FOR CO-OPERATIVES
Time : 2 Hours Marks : 55
PART A
Answer all questions, each carries 1 mark
1. The president is elected by............
2. State co-operative bank is also called.....
3. A co-operative society is having separate legal entity and a name and a seal is technically called..........
4. An introduction statement of an Act is called
a) Definition b)Synopsis c)Preamble d)None of these
5. The last principle of co-operative society is
a) open membership b)education and training c)concern for the community d)Autonomy and Independence
6. Representative general body constituted in
a)once in 5 year b)yearly c)monthly d)once in 3 years
PART B
Answer all questions, each carries 2 marks
7. Explain Sec.3
8. What is Quorum for meeting?
9. What is Adhoc committee ?
10. What general body?
11. What is minutes book?
PART C
Answer any 2 questions, each carries 4 marks
12. What is bye-law. What are the subject matter of Bye-laws.
13. What is the type of liability of co-operative society. How it can be changed.
14.Write note on expulsion of members.
15. Write a note on Annual General Body meeting
PART D
Answer 2 questions, each carries 8 marks
16.Explain Problems and challenges faced by co-operative sector
17. Explain the funtions and powers of registrar
18. Who can become members in a co-operatove society. What are the qualification for individual membership.
19. What are the disqualifications of managing committee members.
PART E
Answer any 1 question, carries 15 marks
20. Write about Recent Trends and Development of Co-operative Movement in India
21. Explain the procedure regarding conduct of election to the committee of societies
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MES ASMABI COLLEGE, P VEMBALLUR
Ist INTERNAL EXAMINATION JULY 2018
I SEMESTER B.COM CO-OPERATION
BCIB01 - BUSINESS MANAGEMENT
Time : 2 Hours Marks : 55
PART A
Answer all questions, each carries 1 mark
1. Who is the father of Modern Management?
a) F W Taylor b)Henry Fayol c) Hawthrone d) Elton Mayo
2. There are....... levels of management
a) 5 b) 6 c)3 d)4
3. The content of communication is called
a) message b)noise c)media richness d)jargon
4. ........ aims at visualizing and identifying deviation before they actually occur
a)Predictive control b)Concurrent c)Operational Control d)All of these
PART B
Answer all questions, each carries 2 marks
5.Define Management.
6.What is Grape wine communication
7. What is encoding?
8. What is budgetary control?
9 . What is standard costing?
10. What Supervision?
13. What is Co-ordination?
14. What is Direction?
PART C
Answer any 5 questions, each carries 4 marks
15. Distinguish between Directiom and Supervision
16. What are the importance of Communication
17.Write note on features of control.
18. Explain principles of effective co-ordination
19. Management is considered as science as well as art. Explain.
20. What are the importance of management
21. Explain importance of control
PART D
Answer any 1 question, carries 15 marks
22. Define Co-ordination. Wha is its importance. What are the techniques of Co-ordination
23. Define management. Eplain the futions of management in detail.
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M.E.S ASMABI COLLEGE, P.VEMBALLUR
SECOND INTERNAL EXAMINATION –OCTOBER 2018
S 5 B.Com FIFTH SEMESTER B.COM (CO-OPERATION)
Time: 2 hour ACCOUNTING FOR MANAGEMENT Total 55 marks
Answer all the questions. Each carries 1 mark(1*10=10)
1. Funds flow refers to..........
2. Salary outstanding is …………of funds.
3. Fixed asset sold for cash is……………
4. Net increase in working capital results in …………of funds
5. Fund from operations are ……....of funds
7. Fund lost in operation are………..of funds
8. Fund means…………….
9. An increase in current assets increases……………
10. When more depreciation is provided, tax liability will be…………..
Answer all the questions. Each carries 5 marks (5*6=30)
11. Differentiate between fund flow statement and balance sheet?
12. Calculate fund from operation.
Salaries 12,000 GP 94,000
Rent 5,500 Profit on sale of furniture 7,250
Printing and stationery 3,200 Interest on Investment 3,750
Depreciation 11,500
Goodwill written off 6,000
Provision for taxation 10,000
Loss on sale of land 3,400
Proposed dividend 9,000
N/P taken to B/S 44,000
1,05,000 1,05,000
13. What you mean by Break Even point. Draw a Chart as example?
14. What is fixed cost, variable cost and absorption cost?
15. What is CVP analysis? List out its elements and equations?
16. From the following balance sheet as on 31st December 2015 and 2016, you are required to prepare
a Statement of Changes in Working capital for 2016.
Share capital
Reserves & surplus
Debentures
Creditors
Outstanding expenses
2015
2,50,000
40,000
1,50,000
1,80,000
35,000
6,55,000
2016
3,00,000
70,000
75,000
2,50,000
25,000
7,20,000
Plant & Machinery
Long term investments
Debtors
Stock
Cash and bank
Preliminary expenses
2015
2,70,000
1,0,000
75,000
1,20,000
60,000
30,000
6,55,000
2016
3,65,000
50,000
1,00,000
1,00,000
85,000
20,000
7,20,000
Essay question. ( No choice) (15*1=15)
17. From the B/S of X ltd. Make out: A schedule of changes in working capital and fund flow statement. Additional Information: (a) Depreciation of Rs. 10,000 and Rs. 20,000 have been charged on plant and land and building respectively in 2016. (b) An interim dividend of Rs. 20,000 has been paid in 2016. (c) Income tax of Rs. 35,000 has been paid in 2016.
Equity capital
8 % Redeemable Pref. Capital
General reserve
P/L A/c
Proposed dividend
Creditors
B/P
Provision for tax
31.03.15
3,00,000
1,50,000
40,000
30,000
42,000
55,000
20,000
40,000
6,77,000
31.03.16
4,00,000
1,00,000
70,000
48,000
50,000
83,000
16,000
50,000
8,17,000
Goodwill
Land & Building
Plant
Debtors
Stock
B/R
Cash
Cash at bank
31.03.15
1,15000
2,00,000
80,000
1,60,000
77,000
20,000
15,000
10,000
6,77,000
31.03.16
90,000
1,70,000
2,00,000
2,00,000
1,09,000
30,000
10,000
8,000
8,17,000
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M E S ASMABI COLLEGE, P- VEMBALLUR
FIFTH SEMESTER B.COM DEGREE (Co- Operation) SECOND INTERNAL EXAMINATION OCTOBER 2018
BC5 B09– Human Resource Management
TIME: 2 HOURS MAXIMUM MARK: 55
Section A
Answer any five questions
1.What do you mean by HR Planning?
2. Define Recruitment
3. Explain Job Analysis
4. What do you mean by Pouching?
5. Define Selection
6. What are the internal factors affecting recruitment?
(5x2=10 marks)
Section B
Answer any six questions
7. Explain any two internal sources of recruitment
8. Explain Job analysis process
9. Explain the merits and demerits of external sources of recruitment
10. Explain the process of HR Planning
11. What are the different types of manpower planning?
12. Explain different methods of recruitment
13. Explain different types of tests used in selection process
14. What are the important characters of Recruitment?
(6x5=30 marks)
Section C
Answer any one question
15. Briefly explain the process of Recruitment with its sources and merits and demerits
16. What do you mean by Selection? What are the steps to be followed in selection process?
(1x15=15 marks)
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M E S ASMABI COLLEGE, P- VEMBALLUR
FIFTH SEMESTER B.COM DEGREE (Co- Operation) SECOND INTERNAL EXAMINATION OCTOBER 2018
BC5 B10– CO-OPERATIVE THEORY AND PRACTICE
TIME: 2 HOURS MAXIMUM MARK : 55
Section A
Answer any five questions
1.What is CAPE?
2. Describe the classes of agricultural credit.
3. What is MPCS?
4. What is Subsidiary State Partnership Fund?
5.What is incremental income?
6.What is D.V File?
7.Explain CAMPCO?
(5x2=10 marks)
Section B
Answer any six questions
8. Write a note on agencies of rural credit in India.
9. Distinguish between Farmer’s service society and a Service society.
10. Explain the defects of PACs.
11. Explain the need to retain the DCBs in the three tier structure.
12. Describe the functions of DCBs.
13. What are the objectives o f NABARD?
14. Explain the role of NABARD in co-operative movement.
15.What are the objectives of KSCARDBs? (6x5=30 marks)
Section C
Answer any one question
16.Discuss the activities of state co-operative union in Kerala.
17. Explain the different categories of PACs .
(1x15=15 marks)
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M E S ASMABI COLLEGE, P- VEMBALLUR
FIRST SEMESTER B.COM DEGREE (Co- Operation) FIRST INTERNAL EXAMINATION OCT 2018
BCIC01 Managerial Economics
TIME: 2 HOURS MAXIMUM MARK : 55
Section A
Answer any six questions
1.Write down wealth definition of economics?
2.What is the relationship of managerial economics with statistics?
3.What is law of demand?
4.What do you mean by unprogrammed decisions ?
5. Draw unitary elastic supply?
6.what is elasticity of demand?
7.What do you mean by composite demand?
8.What is the formula of demand function?
(6x2=12marks)
Section B
Answer any seven questions
9. Distinguish between micro and macro economics?
10.what are the responsibilities of a managerial economist?
11. What are the characteristics of managerial economics?
12.Describe the steps included in the decision making process?
13.Describe the reasons for downward sloping of demand curve?
14.Explain the exceptions to the law of demand?
15.Write down the classification of demand?
16.what are the practical importance of the concept of elasticity?
17.Explain the degree of elasticity of demand ? (7x4=28 marks)
Section C
Answer any one question
18.Explain the factors affecting demand?
19.Discuss the principles of managerial economics?
(1x15=15 marks)
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M E S ASMABI COLLEGE, P- VEMBALLUR
FIFTH SEMESTER B.COM DEGREE (Co- Operation) SECOND INTERNAL EXAMINATION OCT 2018
BC5 B08– BUSINESS RESEARCH METHODS
TIME: 2 HOURS MAXIMUM MARK : 55
Section A
Answer any six questions
1.what is extraneous variable?
2.What do you mean by snowball sampling?
3.What is tippet’s table?
4.What do you mean by causal research ?
5.Distinguish between primary data and secondary data?
6.what is the difference between reliability and replication?
7.What is research design?
8.What are the measures of control of errors?
(6x2=12marks)
Section B
Answer any seven questions
9. Discuss the essentials of a good sample?
10.Distinguish between questionnaire method and schedule method?
11. What are the characteristics of observation?
12.Describe the steps included in the sampling process?
13.Describe the types of measurement scales?
14.Explain the methods of research?
15.what are the components of a research design?
16.what are the reasons for selecting sampling than census?
17.Explain the frequently used scaling techniques? (7x4=28 marks)
Section C
Answer any one question
18.Explain the types of sampling methods?
19.Discuss the sources of data in research studies?
(1x15=15 marks)
PG questions
PG questions
M E S ASMABI COLLEGE P VEMBALLUR
M COM MODEL EXAMINATION JANUARY 2017
MC1C02 QUANTITATIVE TECHNCIQUES
Time: 3 Hrs Marks : 36 Weightage
A. Answer all questions.
1. What do you mean by testing of hypothesis?
2. What is Type I and Type II error?
3. Define correlation and regression.
4. What do you mean by level of significance?
5. Define Quantitative Techniques?
6. What do you mean by statistical inference? (6×1= 6 weight)
B. Answer Any Six questions.
7. Explain the procedure of testing of hypothesis
8. The following data shows the inspection results of 10 samples of electric tube lights selected at random from a process. Construct a suitable control chart to indicate whether the process is under control or not
Sample No.
1
2
3
4
5
6
7
8
9
10
No. of defectives
4
5
7
12
4
2
1
6
4
5
Each sample consists of 100 items.
9. What do you mean by estimation and what are the properties of a good estimator.
10. For a given sample of 200 items drawn from a population, the mean is 65 and standard deviation is 8. Find the 95% confidence limits for the population mean.
11. Out of 8000 graduates in a town 800 are females; out of 1600 graduate employees 120 are females. Use Chi Square test to determine if any distinction is made in appointment on the basis of sex value of chi square at 5% level for one degree of freedom is 3.84.
12. Electric bulbs manufactured by x and y companies gave the following results.
X Company
Y Company
No. of bulbs used
100
100
Mean life in hours
1300
1248
SD in hours
82
93
Using the Standard error of the difference between means state whether there is any significant difference in the mean life of the two makes.
13. 1000 ladies were chosen at random from the inhabitants of Bombay city and 550 were found to have dark eyes. Does this finding contradict the hypothesis that the event of lady having dark eyes have probability ½ ?
14. Discuss the similarities and differences between correlation and regression analysis (6×3= 18 weight)
C. Answer any Two questions.
15. Calculate coefficient of correlation by Spearman method from the following data.
Roll No.
1
2
3
4
5
6
7
8
9
10
Marks in Statistics
45
56
39
54
45
40
56
60
30
35
Marks in Law
40
56
30
44
36
32
45
42
20
36
16. A Biscuit company appoints four salesman M, N, O & P and observes their sales in three season – summer, winter and monsoon.
Salesman
Season
M
N
O
P
Total
Summer
34
34
19
33
120
Winter
26
27
29
30
112
Monsoon
24
26
27
27
104
Salesman Total
84
87
75
90
336
1. Do the Salesman significantly differ in performance
2. If there any significant difference between the seasons.
17. Explain the various applications and limitations of Quantitative Techniques. (2× 6= 12 weight)
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MES ASMABI COLLEGE, P VEMBALLUR
SECOND SEMESTER M.COM MODEL EXAMINATION, JULY 2017
MANAGEMENT SCIENCE
WEIGHTAGE-36
TIME - 3 Hrs
Part-A
Answer all questions
1. Define Operations Research.
2. What is a saddle point?
3. What do you mean by Feasible region?
4. What is Dangling?
5. What is Traffic Intenisity?
6. What is Dummy Activity? (6x1= 6 Weightage)
Part-B
Answer any six questions
7. Compare PERT and CPM.
8. State the difference between Assignment Problem and Transportation Problem.
9. Explain the scope and objectives of OR.
10. What are the various application areas of LPP.
11. Find graphical solution of the following problem.
Maximize Z= 11 x + 4y
Sub to 7x+6y ≤ 84
4x+2y≤ 32
X, y ≥ 0
12. An animal feed company must produce at least 200 kgs of a mixture consisting of ingredients X1 and X2 daily. X1 cost Rs 3 per kg and X2 Rs 8 per Kg. No more than 80 Kg of X1 can be used and at least 60 Kgs of X2 must be used. Formulate a mathematical model to the problem.
13. Solving the following game.
Player B
B1 B2 B3
Player A A1 6 4 3
A2 2 4 8
14. Solve the following Assignment problem whose cost matrix is as follows
I II III IV
A 2 3 4 5
B 4 5 6 7
C 7 8 9 8
D 3 5 8 4
Answer any two questions.
15. A small project is composed of 8 activities whose time estimates are given below.
Activity tp tm to
1-2 21 7.5 3
1-3 27 8 3
2-4 8 8 8
2-5 3.5 2 5
3-5 10 10 10
4-5 1.7 1 3
4-6 9 7.5 3
5-6 5 3 1
a) Draw the project network
b) What is the expected project duration
c) Find the approximate probability of completing the project not more than 4 weeks later than expected.
16. Solve the following transportation problem
Destination
Origin D1 D2 D3 D4 Supply
O1 1 2 3 4 6
O2 4 3 2 0 10
O3 0 2 2 1 8
Demand 4 6 8 6
17. Explain different Operations Research tools used today in the business world.
(2×6=12 weightage)
MES ASMABI COLLEGE, P. VEMBALLUR
FIRST SEMESTER M.Com DEGREE EXAMINATION, JANUARY 2018
MC1C2-Quantitative Techniques for Business Decisions
Time: 3 Hours Maximum:36 weightage
Answer all questions
1. What is inferential analysis?
2. What are confidence limits?
3. What is standard error?
4. What is product control?
5. What are contingency tables?
6. Expand SPSS (6×1=6 weightage)
Answer any six questions
7. Explain the significance of QT.
8. What is point estimation? Explain.
9. What is hypothesis? Explain the procedure for testing hypothesis.
10. Explain the various tailed test in hypothesis.
11. What are the various control charts? Explain.
12. Draw a suitable control chart on the basis of the following information. The table shows the number of defects in 12 TV sets selected at random from the stock of a reputed company.
No of Defects: 2, 4, 5, 7, 4, 3, 2, 3, 0, 7, 5, 3
13. 25 factory workers were asked how many vacation days they take a year. The average of the sample was 22.85 days, and the standard deviation of the sample was 5.80. Calculate standard error for the sample average.
14. A genetics engineer was attempting to cross a tiger and a cheetah. She predicted a phenotypic outcome of the traits, she was observing to be in the following ratio: 4 stripes only: 3 spots only: 9 both stripes and spots. When the cross was performed and she counted the individuals she found 50 with stripes only, 41 with spots only and 85 with both. According to the chi-square test, did she get the expected outcome?
(6×3=18 weightage)
Answer any two questions
15. What are the various parametric tests? Explain.
16. In a sample of 600 parts manufactured by a factory, the number of defective parts was found to be 45. The company however claimed that only 5% of their product is defective. Is the claim valid?
17. Explain the various types of correlation with examples.
(2×6=12 WEGHTAGE)
M E S ASMABI COLLEGE, P- VEMBALLUR
FOURTH SEMESTER B.COM DEGREE (Co- Operation) FIRSTINTERNAL EXAMINATION FEBRUARY 2019
COST ACCOUNTING
Time: 2 hours Maximummark:55
Section A
Answer all questions. Each question carries 2 marks
1.What is cost accounting?
2. Define cost center
3. Distinguish between FIFO and LIFO
4. What is VED Analysis?
5. Distinguish between fixed cost and variable cost
(5x2=10 marks)
Section B
Answerall questions. Each question carries 6 marks
6. Explain various cost classifications?
7. What are the objectives of cost accounting?
8. Find out EOQ
Annual usage - 6000 units
Cost of material – Rs: 20
Ordering cost – Rs: 60
Carrying cost – 10% of inventory value
9. Describe various advantages of cost accounting
10.From the following information, find out (1) Reorder levels (2) Maximum level (3) Minimum level and (4) Average stock levels
Maximum Consumption – 400 units
Minimum consumption – 250 units
Normal Consumption – 300 units
Reorder quantity – 1500 units
Maximum reorder period – 6
Minimum reorder period – 4
(5x6=30marks)
Section C
Answer any onequestion. 15 mark
11. Record following transaction in a stores ledger account using FIFO method
2011 march 1 Opening stock 200 units @ Rs: 2 each
5 Purchases 100 units @ Rs: 2.20 each
9 Purchases 150 units @ Rs: 2.40 each
20 Purchases 200 units @ Rs: 2.60 each
2 Issues 150 units
7 Issues 100 units
12 Issues 110 units
27 Issues 230 units
12. A company has three production departments and two service departments. The following figures are extracted from the books of the company.
Production department Service department
A B C X Y
Rs Rs Rs Rs Rs
Primary overheads 15,621 25,085 9094 8000 5200
The expenses of service department X and Y are to be allocated as follows
A B C X Y
X 30% 40% 20% -- 10%
Y 10% 20% 50% 20% --
Estimated working hours of production departments are A: 1000 hours, B: 2500 hours and C: 1400 hours. Prepare a statement showing the distribution of two service departments using “Repeated distribution method” and also calculate hourly rate of each department.
(1x15=15marks)
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