Gauhati University Management Accounting Question paper 2022
Here in this page you will get to see Gauhati University Management Accounting Question Paper'2022 December, B.com 5th semester CBCS Pettern
2022
COMMERCE
(Honours Elective)
Paper: COM-HE-5016)
(Management Accounting)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer the following questions: (any ten) 1x10=10
(a) Management Accounting deals with both quantitative and_______information.
(Fill in the blank)
(b) Management Accounting is helpful in increasing profitability. (State whether the statement is True or False)
(c) Define the term 'Management Accounting'.
(d) Financial statements are
(i) estimates of facts
(ii) anticipated facts
(iii) recorded facts
(iv) All of the above
(Choose the correct answer)
(e) Financial statements are only______reports. (Fill in the blank)
(f) Debt-equity ratio is the relationship between outsiders' funds and_______funds. (Fill in the blank)
(g) What is gross profit ratio ?
(h) What do you mean by cash budget?
(i) Labour cost variance is the difference between standard cost of Inbour and_______cost of labour. (Fill in the blank)
(j) State the meaning of standard costing.
(k) What is break-even point. 2
(l) Marginal costing is a technique of cost control. (State whether the statement is True or False)
(m) Contribution is the difference between sales and______costs. (Fill in the blank)
(n) What is margin of safety?
(0) Standard cost is a_____cost. (Fill in the blank)
(p) Liquidity ratios measure long-term solvency of a concern. (State whether the statement is True or False)
(9) Management Accounting provides decisions to the management. (State whether the statement is True or False)
(r) Liquid ratio is also known as_______ratio. (Fill in the blank)
2. Write brief answers to the following questions (any five) 2×5=10
(i) Mention two limitations of Management Accounting.
(ii) Write two distinctions between Cost Accounting and Management Accounting.
(iii) State two objectives statement analysis.
(iv) State two advantages of ratio analysis.
(v) Mention two distinctions between fixed budget and flexible budget.
(vi) Write two limitations of budgetary control.
(vii) State the meaning of materials cost variance.
(viii) Write the significance of the term. 'variance' in standard costing.
(ix) State the meaning of marginal costing.
(x) What is angle of incidence in marginal costing ?
3. Answer the following questions: (any four) 5×4=20
(i) Mention five objectives of Management Accounting.
(ii) Briefly explain the importance and need of Management Accounting.
(iii) Write a brief note on comparative statements.
(iv) Explain in brief the significance of return on capital employed.
(v) State the objectives of budgetary control.
(vi) Briefly explain any five advantages of cash budget.
(vii) Explain the possible causes for material price variance in standard costing.
(viii) Write a brief note on cost-volume- profit analysis.
4. Answer the following questions: (any four) 10×4=40
(a) Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and in the day-to-day operations of the undertakings.' Explain this statement.
(b) Briefly discuss about cost control and cost reduction. Also explain its advantages. 3+3+4=10
(c) Explain the procedure of analysis and interpretation of financial statements. Also discuss the limitations of financial analysis. 5+5=10
(d) From the following data, prepare a Comparative Statement of Profit and Loss of Shiva India Ltd.:
(e) What is a budget? Briefly explain the advantages of budgetary control. 2+8=10
(f) X & Co. wishes to arrange overdraft facilitics with bankers during the period April to June of a particular year, when it will be manufacturing mostly for stock. Prepare a cash budget for the above period from the following data, indicating the extent of the bank facilities, the company will require at the end of each month:
Other informations :
(i) 50% of the credit sales are realised in the month following the sales and the remaining sales in second month following.
(ii) Creditors are paid in the following month of purchase.
(iii) Cash at bank is 25,000 on 1st April.
(g) (i) Explain wage rate variance and labour efficiency variance. 2+2=4
(ii) From the following information regarding a standard product, calculate labour variances: 6
Labour rate - 50 paise per hour
Hours per unit - 10 hours:
Units produced - 500
Hours worked - 6000
Actual labour cost - 22,400
(h) (i) State the steps standard involved in costing. 4
(ii) Discuss the limitations of standard costing.
(i) Explain the advantages of marginal costing and cost-volume-profit analysis.
(j) Assuming that the cost structure and selling prices remain same in period and II, find out -
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