Are you searching for the GU BCom 1st Sem Financial Accounting Question Paper 2025? If yes, then you have come to the right place. In this post, we have shared the Gauhati University BCom 1st Semester Financial Accounting Question Paper 2025 for students studying under the FYUGP (NEP 2023 Syllabus).
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Question Paper Details
University: Gauhati University
Course: B.Com (Major)
Semester: 1st Semester
Paper: Financial Accounting
Paper Code: BCM4100204 MJ
Curriculum: FYUGP (NEP 2023)
Examination Year: 2025
Full Marks: 60
Time: 2 Hours 30 Minutes
GU BCom 1st Semester Financial Accounting Question Paper 2025
B.Com 1st Semester (FYUGP – NEP 2023 Syllabus)
Paper: BCM4100204 MJ (Financial Accounting)
Course: Commerce (Major)
Full Marks: 60, Time: 2½ Hours
The figures in the margin indicate full marks for the questions.
1. Answer the following questions as directed. (1×8=8)
(a) A Trading Account is prepared to find out ________ profit. (Fill in the blank with appropriate word/words.)
(b) The first IFRS was published in June ________. (Fill in the blank with appropriate word/words.)
(c) Debit balance of Profit and Loss Account shows net profit. (State whether the statement is True or False.)
(d) Under Stock and Debtors System, Profit/Loss of the branch is ascertained by opening a ________. (Fill in the blank with appropriate word/words.)
(e) Where a buyer under the Installment System makes default in making payment of installments, the seller has a right to repossess the goods sold. (State whether the statement is True or False.)
(f) Computerized Accounting System can significantly reduce the likelihood of human errors in calculations and data entry. (State whether the statement is True or False.)
(g) Discount allowed to debtors is not shown in the Branch Account. (State whether the statement is True or False.)
(h) The full form of C.P.U. is ________. (Fill in the blank with appropriate word/words.)
2. Answer in brief any six questions. (2×6=12)
(a) Mention two limitations of Accounting Principles.
(b) What is a Capital Receipt?
(c) Mention any two features of Tally 9.
(d) Define Accounting Standard.
(e) Mention any two disadvantages of the Hire Purchase System.
(f) Very briefly explain any two advantages of Computerized Accounting.
(g) Mention any two distinctions between Gross Profit and Net Profit.
(h) What is Prudence or Conservatism Concept?
(i) How are expenses recognized under AS-9?
(j) What is a Balance Sheet?
3. Answer any four questions. (5×4=20)
(a) Distinguish between Hire Purchase System and Installment Purchase System.
(b) Write a comprehensive note on inventory valuation and its significance.
(c) Briefly explain any five distinctions between Manual Accounting and Computerized Accounting.
(d) From the following information, prepare a Trading Account for the year ended 31.03.2025.
(e) Write the meaning of the following Accounting Principles:
(i) Cost Concept
(ii) Consistency Concept
(f) A motor bike is purchased under the Hire Purchase System. The terms of payment are four annual installments of Rs. 16,920 each, payable at the end of every year. The rate of interest charged is 5% per annum. The accounting year closes on 31st March every year.
Calculate:
Amount of Interest
Cash Price
(g) Discuss four methods/approaches of measurement of Business Income.
(h) Briefly describe any five key users of Financial Accounting Information.
4. Answer any two questions. (10×2=20)
(a) From the following Trial Balance of M/s Sarma Enterprise, prepare:
Trading Account
Profit and Loss Account
for the year ended 31st March, 2025. (4+6=10)
Additional Information:
(i) Closing Stock: Rs. 1,70,000
(ii) Depreciate Furniture @ 10% per annum.
(iii) The enterprise incurred heavy expenditure on advertisement for launching new products, which is to be written off over 5 years.
(iv) Outstanding Salaries: Rs. 12,000
(v) Salaries Paid in Advance: Rs. 10,000
(b)
Assam Motor Service Co. purchases a motor car on the Installment Payment System from Hind Motor Ltd. on 01.01.2018. Payment is to be made on 31st December every year for four years at Rs. 50,000 per annum. Interest is charged at 5% per annum. The cash price of the motor car is Rs. 1,77,300.
Depreciate the motor car at 10% per annum on the Diminishing Balance Method.
Prepare the following accounts in the books of Assam Motor Service Co. for four years:
(i) Motor Car Account
(ii) Hind Motor Ltd. Account
(iii) Interest Suspense Account
(c)
Explain the procedure for setting Accounting Standards in India.
(d) Explain the rights of:
Hire Purchaser
Hire Vendor
under the Hire Purchase System. (5+5=10)
(e) The Guwahati Head Office sends goods to its Dibrugarh Branch at cost plus 20%.
The following particulars relate to the branch for the year ended 31st March, 2024:
You are required to prepare the Dibrugarh Branch Account in the books of the Head Office to ascertain the Branch Profit or Loss.
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Why You Should Practice This Question Paper
Based on the latest FYUGP (NEP 2023) syllabus.
Helps you understand the latest examination pattern.
Identifies frequently asked topics.
Improves speed, accuracy, and time management.
Excellent resource for semester examination preparation.
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