Gauhati University Question Papers
Regulatory Framework of Business - I' 2015
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate full marks for the questions)
a) Financial Statement are
1) Estimates of facts.
2) Anticipated facts.
3) Reordered facts. (Select the correct answer)
b) Retained Earning Statement depicts:
1) Appropriation of profits.
2) Estimated of profits.
3) Estimates of costs. (Select the correct answer)
c) Vertical analysis refers to the comparison of financial data of a company for several years. (State whether the statement is true or false)
d) Liquid ratio is also known as _______ ratio. (Fill up the gap).
e) Which of the following is non-current asset?
1) Bill Receivable.
2) Goodwill.
3) Cash Balance.
2. Write the meaning of the following: 2x5=10
a) Assets.
b) Horizontal analysis of Financial Statement.
c) Leverage ratio.
d) Trend analysis.
e) Statement of changes in working capital.
3. Answer the following in brief: 5x5=25
a) Write the limitations of Financial Statements.
b) Mention in brief the contents of board of Director Report.
c) State the managerial use of ratio analysis.
d) What is Gross Profit Ratio?
From the following information, calculate the Gross Profit Ratio?
| Total Sales Sales return Cost of goods sold | Rs. 5,20,000 Rs. 20,000 Rs. 4,00,000 |
e) Write the limitations of Found Flow Statement.
4. Why is Financial Statement significant? Write the characteristics of Financial Statement. 4+6=10
Or
What is corporate reporting? State the voluntary disclosures of information by the various companies through annual report. 2+8=10
5. From the following information, draw up a Balance Sheet: 15
| Current ratio Liquidity ratio Networking capital Stock turnover ratio (Cost of sale/closing stock) Gross profit ratio Fixed assets turnover ratio Average debt collection period Fixed assets: Shareholders network Reserves: Share Capital | 2.5 1.5 Rs. 3,00,000 6 times 20% 2 times 2 months 1 : 1 0.5 : 1 |
Or
What is comparative statement? How do the comparative balance sheet and comparative income statement help in interpreting financial state of an enterprise? What is the basic difference between comparative statement and common size statement? 2+8+5=15
6. What are the distinctions between Fund Flow Statement and Cash Flow Statement? State the significance of Cash Flow Statement. Mention the procedure of preparing Cash Flow Statement under indirect method. 5+5+5=15
Or
a) Mention the limitation of Cash Flow Statement.
b) The Following are the comparative Balance Sheet of ABC Ltd. as on 31st December, 2013 and 2014. 3+12=15
| Liabilities | 2013 Rs. | 2014 Rs. | Assets | 2013 Rs. | 2014 Rs. |
| Share Capital (Shares of Rs. 10 each) Profit & Loss A/c 9% Debenture Creditors | 3,50,000 50,400 60,000 51,600 | 3,70,000 52,800 30,000 59,200 | Land Stocks Goodwill Cash and Bank Temporary Investment Debtors | 1,00,000 2,46,000 50,000 42,000 3,000 71,000 | 1,50,000 2,13,500 25,000 35,000 4,000 84,500 |
| | 5,12,000 | 5,12,000 | | 5,12,000 | 5,12,000 |
Other particulars provided to you are –
a) Dividends declared and paid during the year Rs. 17,500.
b) Land was revalued during the years at Rs. 1,50,000 and the profit of revaluation transferred to Profit and Loss A/c.
You are required to prepare a Cash Flow Statement for the year ended 31st December 2014.
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