[MU Solved Question Papers, Mumbai University Solved Question Papers, Accountancy Financial Management - III Solved Question Papers, 2017 to 2019 ]
Hello Guys, Welcome to Dynamic Tutorials and Services.
In this Post you will get MU solved question papers. Subject Covered in this post is Accountancy Financial Management - III of B.Com 3rd Sem From 2017 to 2019). Just scroll down to access full solved papers.
In this post we cover only MCQs (Multiple Choice Questions) part. Rest will be uploaded very soon.
MU (Mumbai University) Solved Question Papers (MCQs)
Accountancy Financial Management – III (From 2017 to 2019)
Q.P. Code: 23792
(3 Hours)
[Total Marks: 100]
Please check whether you have got the right question paper.
NOTE:
1. ALL questions are compulsory.
2. Q.1 and Q.6 carry 20 marks each.
3. Q.2, Q.3, Q.4 and Q.5 carry 15 marks
each.
4. Use of simple calculator is allowed.
Q 1) (A) Fill in the
blanks with proper words: (Answer any 10) 10
1. In
dissolution of partnership firm all assets are transferred to Realization A/c debit side.
2. Debit balance on Realisation A/c represents loss on realisation.
3. On Amalgamation fictitious assets are transferred to partner’s capital Accounts.
4. Partnership firm has unlimited liability.
5. If asset is depreciated Realisation A/c is not affected
6. Trademarks is an intangible assets.
7. Return Inward is deducted from Sales.
8. Payment made in advance is shown on assets side of balance sheet.
9. Goodwill written off in the books of new firm is debited to partner’s capital Account.
10. The balance due to retiring partner is transferred to his loan account until final settlement.
11. After all external liabilities are paid the balance cash is paid to the partners as per surplus capital method.
12. On dissolution of firm payment of unrecorded liability is debited to realisation account.
(B) Match the following: (Answer any 10) 10
|
Column ‘A’ |
Column ‘B’ |
|
1. Dues to employees |
M. Preferential Liability |
|
2. Fluctuating Capital Method |
l. Separate current A/c is not opened |
|
3. Excess capital method |
k. Highest Relative Capital method |
|
4. Amalgamation of firms |
J. Purchase Consideration |
|
5. purchase Consideration |
i. Amount payable by purchasing company |
|
6. Loose tools |
h. Not a fixed asset |
|
7. Preferential liability |
g. Income tax dues |
|
8. Interest on Partner’s Loan |
f. 6% p.a
|
|
9. Reserve for contingent Liabilities |
e. created after payment of external liability |
|
10. Income received in advance |
d. Liability |
|
11. Unsold stock at the end of the year |
c. Closing stock |
|
12. General Reserve |
b. Distributed among the partners |
|
|
|
2018 (April)
ACCOUNTANCY AND FINANCIAL MANAGEMENT – III (CBCGS)
Q.P. Code: 23792
(3 Hours)
[Total Marks: 100]
Please check whether you have got the right question paper.
NOTE:
1. ALL questions are compulsory.
2. Q.1 and Q.6 carry 20 marks each.
3. Q.2, Q.3, Q.4 and Q.5 carry 15 marks
each.
4. Use of simple calculator is allowed.
Q.1 A. Fill in
the blanks (Any 10) 10
1. Purchase consideration = Assets less _______ liabilities both at market value (Internal / External)
2. In the absence of information, purchase consideration received on conversion should be distributed in the _________ ratio (Equal/Capital)
3. On amalgamation of firm _______ Account is opened (Profit & Loss / Realisation)
4. On amalgamation of Firm, Fictitious assets of the old firm are ________ to capital A/c of the old partners (Debited / Credited)
5. In excess Capital method the minimum capital is equal to ________ unit capital (Highest / Lowest)
6. Income Tax payable by the firm as on the date of dissolution is treated as _________ Creditors. (Secured / Preferential)
7. Indian Partnership Act is in force since ________ (1956 / 1932)
8. Excess of Income over expenditure is __________ (Net Profit / Net Loss)
9. There cannot be more than _______ partners in partnership firm (10/20).
10. The executor is entitled to all the rights of a ___________ (Retired Partner / Decease Partner).
11. The balance in the capital A/c of a deceased partner is transfer to his __________ account. (Family / Executor)
12. The credit balance of Revaluation Account shows _________. (Loss / Profit)
B. Match the
following column (Any 10) 10
|
Column ‘A’ |
Column ‘B’ |
|
1 Intangible Assets |
8 Software |
|
2 Loan against hypothecation
of assets |
7 Secured Creditors |
|
3 Partners may not be directors |
9 Sale of Firm to company |
|
4 Net Assets |
10 Assets Less External
Liabilities |
|
5 Death of Partner |
5 Joint Life Policy |
|
6 Assets taken over |
12 Included in purchase
consideration |
|
7 Wages of workers |
1 Preferential Creditors |
|
8 Loss in Realisation on
Amalgamation |
4 Debit all partners capital
A/c |
|
9 Excess of purchase Consideration than Net Assets |
2 Debited to Goodwill |
|
10 Continuing Partner |
3 Gaining Ratio |
|
11 Unpaid Capital Balance of Dead partner |
6 Transfer to legal representative |
|
12 Liabilities not taken over |
11 Will be settled by old firm |
|
|
13 Unsecured creditors |
2018 (Nov)
ACCOUNTANCY AND FINANCIAL MANAGEMENT – III (CBCGS)
Q.P. Code:
(3 Hours)
[Total Marks: 100]
Please check whether you have got the right question paper.
NOTE:
1. ALL questions are compulsory.
2. Q.1 and Q.6 carry 20 marks each.
3. Q.2, Q.3, Q.4 and Q.5 carry 15 marks
each.
4. Use of simple calculator is allowed.
Q.1.A. State whether the following statement
is true or false (Any 10) 10
1. The partners must conduct lawful business. True
2. Drawing appears on debit side of capital account. True
3. General reserve is credited to partners’ capital account. True
4. Unpaid salaries of employees are preferential liabilities. True
5. Goodwill requires special treatment on amalgamation. False
6. On amalgamation fictitious assets are transferred to capital account. True
7. Partners’ capital accounts are closed on settlement of purchase consideration among the partners. True
8. Profit or loss on realization is transferred to partners’ capital account in capital ratio. False, P/L sharing ratio
9. Provision for discount on debtors shows debit balance.
10. Outstanding wages is a nominal account. False, Personal account
11. Closing stock is valued at market price only. False, Cost or market price whichever is lower
12. Assets taken over by partner is credited to his capital account. False, Debited
B. Fill in the blanks (Any 10) 10
1. Fictitious assets are distributed among the partners in their ________ ratio. (Profit Sharing/ Capital Sharing)
2. Assets and liabilities are transferred to realization account at _________. (Book Value/ Market Value)
3. Unproductive wages are debited to ________. (Trading Account/ Profit and Loss Account)
4. Expenses payable are shown on _________ side in the balance sheet. (Assets/ Liabilities)
5. Current account showing debit balance is shown in the balance sheet on ______ side. (Liabilities/ Assets)
6. Excess capital method is known as ________ method. (Highest Relative method/ Maximum Loss method)
7. Profit on realization is _______ to partners’ capital account. (Credited/ Debited)
8. A partnership firm has ______ liability. (Limited/ Unlimited)
9. Government dues are _______ liabilities. (Preferential/ Unsecured)
10. Amount agreed to be paid by the new firm to old firm is called_______. (Purchase Consideration/ agreed liability)
11. Bad debts is a ________. (Loss/ Profit)
12. Employee’s dues are ________ liabilities. (Preferential/ Secured)
2019 (April)
ACCOUNTANCY AND FINANCIAL MANAGEMENT – III (CBCGS)
Q.P. Code:
(3 Hours)
[Total Marks: 100
Please check whether you have got the right question paper.
NOTE:
1. ALL questions are compulsory.
2. Q.1 and Q.6 carry 20 marks each.
3. Q.2, Q.3, Q.4 and Q.5 carry 15 marks
each.
4. Use of simple calculator is allowed.
Q1A. State whether the following statements
are True or False (Any 10) (10)
1. Interest on drawings is an income of the firm. True
2. In Conversion of partnership into Limited Company, the partnership business is purchased by a limited company. True
3. Dues payable to employees is a preferential liability of the firm. True
4. In case of current accounts of partners, no interest is payable on the balances of current accounts. (True, Generally no interest is payable on current account but if clearly stated in partnership deed interest can be provided)
5. In Amalgamation of firms, the old firms are called as Amalgamating Firms. True
6. As per the Partnership Act, interest @ 6% p.a. is allowed on partners loans. True
7. Excess Capital method is also known as Quotient Method. True, also known as Surplus capital method
8. The payment of purchase consideration in the form of shares/debentures and cash is known as Net Payment Method. True
9. Purchase consideration is the amount payable by the vendor firm to the purchasing firm. True
10. Goodwill brought in by the incoming partner is shared by all the partners. False, Sacrificing partners
11. Loan taken from partners spouse is an internal liability of the firm. False, External liability
12. In case of Amalgamation of firms, a Realization account is prepared to close the books of the old firms. True
B. Match the following Columns (Any 10) (10)
|
Column ‘A’ |
Column ‘B’ |
|
l) New Firm |
l) New Firm |
|
2) Purchase Consideration |
i) Consideration payable on amalgamation |
|
3) Purchasing Firm |
l) New Firm |
|
4) Creditors |
j) External Liabilities |
|
5) Carriage Outwards |
b) Debited to P&L A/c |
|
6) Bills Discounted |
e) Contingent Liability |
|
7) Net Assets Method |
c) Assets minus liabilities |
|
8) Vendor Firm |
a) Old firm |
|
9) Admission of Partner |
k) Incoming partner |
|
10) Carriage Inwards |
d) Debited to Trading A/c |
|
11) Ratio of Sacrifice |
g) Old ratio minus new ratio |
|
12) Retirement of Partner |
h) Outgoing Partner |
Post a Comment
Kindly give your valuable feedback to improve this website.