Download OU B.Com 2nd Sem Financial Accounting II Important Questions

Subject Title: Financial Accounting II

Unit - I: Bills of Exchange

1. What is the definition and features of a Bills of Exchange ?

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2. Differences between a Bills of Exchange and a Promissory Note.
3. Explain concepts of Renewal of Bill, Accommodation of Bill.
4. Refer problems : Page no-A-18 to A-19: 1,3,4,5.6,8,9,11,12(short)
5. Refer problems : Page no-A-19to A-24 : 1,2,3,5,7,8,10,11,12,13,14,16,17,18(long).

Unit - Il: Consignment Accounts.

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6. What is Consignment? What are the parties of Consignment?
7. Differences between Sale and Consignment.
8. Differences between Proforma Invoice and Account Sales.
9. Explain about cost and Invoice Price Method.
10. Refer problems : Page no-B-18 to B-23:All Problems

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Unit - llI: Joint Venture Accounts.

11. Write about Joint Venture and its features?
12. Differences between Consignment-and Joint Venture.
13. Refer problems : Page no-C-13'to C-17: 1,3,4,5,6,8,9,10,11,12.

Unit - IV: Accounts From Incomplete Records.

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14. What is Single Entry system and its features, Limitations? Distinction between Double Entry
15. Distinction between Double Entry system and Single Entry system.
16. Distinction between Balance sheet and Statement of Affairs.
17. Refer problems : Page No:D-13 to D-15 —All Problems
18. Refer problems : Page No:D-15 to D-29-1,2,4,5,7,9,10,11,12,13,14,16,18,19,20,21,22,23,24.

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Unit - V: Accounts of Non Profit Organizations.

19. Definition and Features of Non-Profit Organization.
20. Differences between Trading Concerns and Non trading Concerns.
21. Distinction between Income and Expenditure Account and Profit & Loss Account.
22. Distinction between Receipts and Payments Account and Income and Expenditure Account.

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23. Refer problems : Page No:-E-19 to E-22 -All Problems
24. Refer problem Page No-E-22toE-41- 1,3,4,5,6,8,9,11,12,14,15,16,17,19,20,21,22,23,24,25,27,28.

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