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Internal
Assignment No. 1
Bachelor of
Business Administration (BBA)- (Retalling)
Paper Code: BBA – 101
Note
: Question No. 1 is of short answer type and is compulsory for all the
students. It carries 5 Marks. (Word limits 50-100)
Q. 1. Answer all the questions:
(i)What do you mean by accounting?
Ans.It is a
systematic process of identifying, recording, measuring, classifying,
verifying, summarizing, interpreting and communicating financial
(ii) Distinguish
between Profit and Loss Account and trading a/c.
Ans.Trading Account is an account that is prepared by the entities
to know the profit earned or loss suffered from trading activities. On
(iii) What
do you mean by incomplete records?
Ans.Incomplete records refers to a situation in which an
organization is not using double-entry bookkeeping. Instead, it is using a more
informal accounting system, such as a single-entry system, to maintain a red
(iv) What do you mean by forfeited of share?
Explain with example.
Ans.A forfeited share is a share in a company that
the owner loses (forfeits) by failing to meet the purchase requirements.
Requirements may include paying an allotment or call money owed, or avoiding selling or
transferring
company.
v) Explain any one
method of depreciation
The capital cost allowance (CCA) is a rate of
depreciation used for income tax purposes only. This term primarily relates to
Canadian taxation. The CCA rate that can be claimed depends on the asset
itself; for example, computer software has a much higher CCA rate than
buildings or furniture. The CCA is essentially a busine
Note: Answer any two questions. Each question
carries 5 marks (Word limits 500)
Q. 2. What
do you mean by accounting? Who are the users of accounting? Explain its scope.
Accountancy is the process of communicating financial
information about a business entity to users such as shareholders and
managers (Elliot, Barry & Elliot, Jamie: Financial
Q. 3. Define
debenture. Explain the various types of
debentures.
a debenture is
a medium to long-term debt instrument used by large companies to borrow money,
at a fixed rate of interest. The legal term "debenture" originally
referred to a document that either creates a debt or acknowledges it, but in
some countries the term is now used interchangeably with bond, loan stock or note.
The major types of debentures are as follows:
1.Types Of Debentures On The Basis Of
Record Point Of View
a. Registered Debentures
These are the debentures that are
Internal Assignment No. 2
Bachelor of
Business Administration (BBA)- (Retalling)
Paper Code: BBA – 101
Note : Question No. 1 is of short answer type and is compulsory
for all the students. It carries 5 Marks. (Word limits 50-100)
Q. 1.
Answer all the questions:
(i) Define
accounting. Give the main objectives of accounting.
Ans.
Financial accounting is
the process by which an organization's transactions are collected, measured,
recorded and presented. This process is designed to accurately reflect business
activity, help companies meet the requirements of the law, present financial
accounts to business owners, allow for improved
(ii) What do you mean by depreciation? Give two reason of decrease
in the value of assets.
Definition: The monetary
value of an asset decreases over time due to use, wear and tear or
obsolescence. This decrease is me
(iii) What is income and
expenditure account? How is it differentiate for receipt and payment account?
Income & Expenditure
Account:
1.
It is a nominal account and summarizes all expenditures and incomes of a
non-profit organization.
2.
The basic purpose of this account is to find out the surplus or deficit of the
organizations.
3.
Expenditures are shown
(iv) Write down the different type of shares.
Types of
shares
A company may have many different types of shares
that come with different conditions and rights in relation to profit entitlement, entitlement
to capital if the business is wound up and voting rights within
the business.
Share types
The five main types of shares are:
1.
Ordinary shares are
the most common type of shares and are standard shares with no special rights
or restrictions. They
(v) What
do you mean by redemption of debenture?
Redemption of debentures means the repayment of the amount of
debentures to debenture holders. In other words redemption refers to discharge
of an obligation arising out of the contractual obligations created on account
of debenture trust deed. The redemption of debenture is made by the company in
accordance with the terms and conditions of issue which are clearly stated in
the debenture certificate.
Note: Answer any two questions. Each question
carries 5 marks (Word limits 500)
Q. 2. What do you mean by
accounting concepts and conventions? Explain briefly important accounting
concept.
In
drawing up accounting statements, whether they are external "financial
accounts" or internally-focused "management accounts", a clear
objective has to be that the accounts fairly reflect the true
"substance" of the business and the results of its operation.
The theory of
accounting has, therefore, developed the concept of a "true and fair
view". The true and fair view is applied in
Q. 3. What are redeemable [reference shares? Discuss the different
methods of redeeming the redeemable preference shares.
There are certain
provisions that need to be fulfilled, under Section 48 of the Companies Act,
2013, for preference shares to be redeemed.
1. The
redeemable preference shares must be fully paid-up.
2. The redeemable preference shares can be redeemed only if the terms laid down
at the time of issuing are met.
Dear
students, get fully solved assignments
by professionals
Do send
your query at :
or call
us at :08263069601
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