ECO – 02 Important Question

ECO – 02 ACCOUNTANCY (BCA) Important Question

1. Define accountancy and explain the advantages and objectives of accounting.
2. What do you understand by the Cost concept and dual Aspect concept?
3. What are a double-entry system and a single-entry system?
4. what is trail balance? how it’s prepared ? Prepare a ledge and balance the accounts, Illustration No.3
5. What is cash books? And state its type? Prepare three Column Cash books and post them into ledge.
6. What are a Bank Reconciliation Statement and the advantages of a Bank Reconciliation Statement?
   Prepare the bank reconciliation statement.
   Illustration No-4
7. Write the short note on the Bill of exchange and promissory note.
8. Prepares a Trading Profit and Loss account. And make a
   Balance Sheet?
   Illustration No-8
9. Provision for discount on debtor and creditors?
10. Rectification in error?
    Illustration No-1,2
11. Suspense account and rectification?
    Illustration No-4
12. The distinction between capital and revenue?
13. Distinction between sale and consignment?
    Books of consignors. Illustration No3
14. What is joint venture and partnership?
    Prepare a joint venture account. Illustration no 1
15. What is a self-balancing system? State its advantages What is sectional balancing?
16. What is the disadvantage of a single-entry system?
17. Receipts and Payment accounts? Income and Expenditure Account Illustration no 5
18. What is depreciation?
    The method of depreciation
    Prepare machinery accounts for 3years
    Illustration No2
19. The distinction between Provision and reserve?

Basic information  And questions

1. Accounting Concepts and Principles: Understand the basic accounting principles, concepts, and conventions such as entity concept, money measurement concept, dual aspect concept, accrual concept, going concern concept, etc.
2. Accounting Equation and Journal Entries: Learn about the accounting equation (Assets = Liabilities + Owner’s Equity) and how to record transactions using journal entries.
3. Ledger and Trial Balance: Understand the purpose of a ledger, how to post journal entries to the ledger accounts, and how to prepare a trial balance.
4. Subsidiary Books: Learn about different subsidiary books such as cash book, purchases book, sales book, journal proper, and their significance in recording specific types of transactions.
5. Bank Reconciliation: Understand the process of reconciling bank statements with the cash book, identifying discrepancies, and making necessary adjustments.
6. Depreciation and Provisions: Learn about the concepts of depreciation, its methods (straight-line, reducing balance, etc.), and the accounting treatment of provisions.
7. Financial Statements: Understand the preparation of financial statements, including the income statement (trading and profit and loss account), balance sheet, and cash flow statement.
8. Partnership Accounts: Learn about the fundamentals of partnership accounting, including the preparation of the partnership’s final accounts, distribution of profits and losses, admission and retirement of partners, and calculation of goodwill.
9. Accounting for Non-profit Organizations: Understand the accounting principles and methods applicable to non-profit organizations, including preparation of income and expenditure account and balance sheet.
10. Introduction to Company Accounts: Get an overview of the fundamentals of company accounts, including the types of shares, issue of shares and debentures, and preparation of the company’s final accounts