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Previous year Question paper For Guahati University

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  • 1. 2007 COMMERCE SECOND PAPER (Financial Statement Analysis) Full Marks: 80 Time: 3 hours The figures in the margin indicate full marks for the questions 1. (a) Write the meaning of 'Revenues from Central Operations'. (b) What is meant by 'Reliability' of accounting information? (c) What is 'Flow of Fund'? (d) Fill in the blank: Long-term Fund minus Fixed Assets = _____________________ (e) Explain the meaning of EPS. 2. Answer any five: 2 2 2 2 2 6×5=30 (a) Briefly explain the techniques of inventory control. (b) Describe the 'operating cycle' concept of working capital. (c) Discuss the main features of Accounting Standard 1 'Disclosure of Accounting Policies'. (d) Describe the utility of using 'comparative statement'. (e) Explain the significance of Debtors Turnover and Inventory Turnover Ratios. (f) Are International Accounting Standards superior to Indian Accounting Standards? Explain with reasons. (g) What are the limitations of Financial Statements? (h) What are the uses of Accounting Ratios in business decision making? 3. Write short notes on any four: 5×4=20 (a) Financial Structure Analysis (b) Trading on Equity (c) Valuation of Fixed Assets (d) Uses of Cash Flow Statement (e) Reasons for Profit Variation (f) Methods of Demand Forecasting 4. Answer anyone: a) A company has owner's equity of Rs.1,00,000. It has supplied the following accounting ratios: Current Debt to Total Debt = 0.40 . Total Debt to Owner's Equity =0.60 Fixed Assets to Owner's Equity = 0.60 Total Assets Turnover = 2 times
  • 2. Inventory Turnover = 8 times With these information, you are required to prepare a summarised Balance Sheet of the company. b) Prepare a Cash Flow Statement with the following information : Balances as on 31.3.2006 Rs Cash and Bank 9,000 Fixed Assets 45,000 Inventory 60,000 Accounts Receivables 36,000 Misc. Current Assets 40,000 Capital (10000 shares) 1,00,000 Long-term Loan 40,000 Short-term Loan 20,000 Reserve and Surplus 30,000 . Balances as on 31.3.2007 Rs Cash and Bank 28,000 Fixed Assets 40,000 Inventory 70,000 Accounts Receivables 44,000 Misc. Current Assets 6,000 Capital (10000 shares) 1,00,000 Long-term Loan 70,000 Short-term Liabilities 30,000 Reserve and Surplus 28,000 During the year 2006-07, Interim Dividend of Rs 50,000 was distributed. There was no sale or purchase of fixed assets. ***