Name of the University : Vardhman Mahaveer Open University
Degree : MBA
Subject Code/Name : MP-103 – Accounting for Managers
Year : I
Document Type : Question Bank
Website : vmou.ac.in
Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/vmou.ac.in/3614h-MP-103_5.pdf
VMOU Accounting for Managers Question Paper
Time: 3 Hours
Max. Marks: 80
Note: The question paper is divided into three sections A, B & C. Write Answers as per the given instructions.
Related : Vardhman Mahaveer Open University MASO04 Rural Sociology MA Question Bank : www.pdfquestion.in/3613.html
Section A
1. Distinguish Management and Cost Accounting
2. What is Cost Centre-
3. Define Break Even Point
4. What is Margin of Safety-
5. What is Normal Loss-
6. What is Process Costing-
7. What is differential costing-
8. What is Imputed cost-
9. What do you mean by Management Accounting-
10. What do you understand by GAAP
11. What is petty cash book-
12. What is Fixed Assets-
13. What is Semi-Variable Cost- Give two examples.
14. Describe Contribution.
15. What do you mean by Fictitious Assets
16. What is Contingent Liabilities
17. What is Standard Cost-
18. What do you mean by master budget-
19. What is Fund From Operation-
20. Define working Capital.
21. What do you mean by Return on Capital Employed-
22. What are the types of accounts- Give one examples of each.
23. Define Bad Debts
24. What are the non-financial considerations in Management decision making-
Section B
1. Differentiate between Capital Expenditure and Revenue Expenditure
2. What do you understand by ‘Ratio Analysis’- What are its Limitations-
3. What are the various sources and uses of funds
4. Explain the significance of Profit Volume Ratio, Margin of safety –
5. Differentiate between Capital Receipt and Revenue Receipt.
6. Differentiate between Fund Flow Statement and Cash Flow Statement.
7. The following data are related to production of ‘X’.
8. What do you mean by budgeting- Mention different types
9. What are the various sources and uses of funds-
10. What do you mean by double entry system of accounting-
11. From the following particulars, prepare a Production budget
12. Define cost, costing, cost accounting and cost accountancy.
13. What is Cash Flow Statement- How does it differ from Funds Flow Statement-
14. What do you mean by process costing- Explain its advantages
15. Explain the meaning of funds flow statement. What are its main objectives
16. Explain factors to be considered while taking make or buy decision.
17. What do you mean by Cost-Volume Profit Analysis- Describe with suitable examples.
18. List out the Four examples of each of the following
19. What do you mean by Cost-Volume Profit Analysis? Describe with suitable examples.
20. List out the Four examples of each of the following:
a. Fixed Assets
b. Current Assets
c. Contingent Liabilities
21. What do you mean by Break Even Point? Present a graphical view of Break Even Point?
22. A company producing a single product sells it at Rs. 30 per unit. Variable cost is Rs. 18 per unit and fixed cost is Rs. 1,20,000 per annum. Calculate (a) Break Even Point, (b) Sales volume required to earn a net profit of Rs. 1,80,000 per annum.
Section C
(Long Answer Type Questions)
Note: Answer any 2 questions. Each answer should not exceed 800 words. Each question carries 16 marks. (Marks 2×16=32)
1. From the following Trial Balance of Bissa Limited, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2014 and Balance Sheet as on that date. The Closing Stock on 31st march 2014 was value at Rs. 15,000.
2. What are the Various Methods of Preparing Final Accounts? Explain in details with suitable examples.
3. What do you mean by Accounting Assumptions? Explain Accounting Conventions.
4. Draw a break even chart with the help of data given below at different production levels of 0 unit, 30,000 units, 60,000 units, 90,000 units, 1,20,000 units and 1,60,000 units.
5. The cost data of G M Wood Crafts Ltd. is as follows:
You are required to calculate followings
(a) Break Even Point
(b)Break Even point if sales mix ratio is changed to 30:50:20
6. A product passes through two process viz. M and N. Prepare Process Accounts, Abnormal Wastage and Abnormal Gain Account from the following;
7. Define Management Accounting and Explain its Functions and Objectives.
8. Following is the Balance Sheet of T. K. Engineering Company. As on 31st march, 2014
Calculate the following ratios:
(a) Current Ratio
(b) Quick Ratio
(c) Absolute Liquidity Ratio
9. Following are the comparative Balance Sheets of Asian Paints Limited as on 31st March 10, 2013 and 31st March, 2014
Additional Information
(a) Dividend paid during 2014 was Rs. 30,000
(b) Investment costing Rs. 40,000 were sold in 2014 for Rs. 80,000
(c) Machinery costing Rs. 50,000 on which Rs. 10,000 depreciation was accumulated, was sold for Rs. 60,000 in the year 2014.
Prepare Fund flow statement for the year 2014.
10. The following are the balance sheets of Anand Limited for the year ended 31st March, 2013 and 2014. Prepare Cash Flow Statement for the year 2013-2014
Additional Information
(a) The company paid dividend of Rs. 30,000 during the year.
(b) A Machinery costing Rs. 75,000 (Accumulated Depreciation was Rs. 32,000) was sold for Rs. 40,000.