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problem 1: What do you mean by cash basis of Accounting? How does it distinct from Accrual basis of Accounting?

problem 2: What are adjustment entries? Why are they so significant for making final account? Describe some of them.

problem 3: What are the necessary principles of a good costing system? What are the objections to the introduction of a costing system?

problem 4: Describe the need for the financial analysis. How does the use of ratios help in financial analysis?

problem 5: Do you propose that a firm must finance its current assets wholly with short-term financing? Describe your answer.

problem 6: What do you mean by the term trail balance? Describe its benefits.

problem 7: List out different Subsidiary books and describe about each one.

problem 8: Describe the features of relevant costs.

problem 9: What are the techniques of costing?

problem 10: A company has a 15 % required rate of return. It is currently selling on terms of net 10. The credit sales of the company are Rs. 120 crore a year. The company’s collection period presently is 60 days. If company offered terms of “2/10, net 30”, 60 % of its customers will take the discount and the collection period will be decreased to 40 days. Should the terms be modified?

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  • Category:- Accounting Basics
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