Download OU B.Com 1st Sem Financial Accounting I Important Questions

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Department of Commerce

Subject: Financial Accounting

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Course: Bcom Group: Computers Semester: I

UNIT-I

Theory Questions:

1. Definition of financial accounting, objectives.
2. Distinction between Book keeping and Accounting.
3. Advantages, limitations of Accounting

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4. Accounting cycle.
5. Accounting Concepts and convention.
6. Difference between Journals, Ledger.

Problems:

Refer Text book page number:

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1. Page b-296, 7, 11.
2. Page b-30 to b-38. 15, 1, 3, 5, 7, 9, 10, 15, 17, 18, 20, 21

UNIT: II

Theory Questions:

1. Advantages of subsidiary books and types of cash book.
2. Difference between cash discount and trade discount.

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Problems:

Refer Text book page number:

1. Page c-22 to c-24. 1, 2, 3, 4, 5, 7, 9.
2. Page c-25 to c-32. 2, 4, 6, 7, 8, 10, 11, 13, 16

UNIT: III

Theory Questions:

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1. What is Bank Reconciliation Statement?
2. Causes for the difference between cash book balance and pass book balance.

Problems:

1. Page D-11 to D-19. 1, 3, 4, 5, 6, 7, 10, 11, 14, 16, 17, 18.

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