Question 1: Explain the construction of profit and loss a/c.
Question 2: Describe in detail regarding accounting concepts and functions.
Question 3: Describe the auditor’s penalty for non-compliance.
Question 4: Describe the relationship among the cost-sales and profit.
Question 5: Explain the accounting procedure for declaring and distributing the dividends.
Question 6: An organization is presently running at 50% capacity and produces 5,000 units at a cost Rs. 90 per unit as per detail shown below:
At 60% working, material cost per unit rises by 2% and selling price per unit drops by 2%.
At 80% working, material cost per unit rises by 5% and selling price per unit drops by 5%.
Estimate the profits of the factory at 60% and 80% working and give your comments.
Question 6: Compute the variances in the given cases.
