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Financial Management & Accounting


This is the collection of Sikkim Manipal University (SMU) question and answers for Financial Management & Accounting. It will help to prepare your examination. All question paper are classified as per semester, subject code and question type of Part A, Part B and Part C with multiple choice options as same as actual examination. SMU question papers includes year 2022, 2021, 2020 Sem I, II, III, IV, V, VI examinations of all subjects.

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Course Name        MCA (Master of Computer Application)

Subject Code       MC0065 (Financial Management & Accounting)

Get Questions        PART - A    PART - B    PART - C

Subject : Financial Management & Accounting

     MC0065 : PART - C    


Q. 1The bank balance as per cash book showed a debit balance of Rs. 1,54,300
Other Details:
1. Cheques deposited but not yet credited by the bank Rs.75,450
2. Cheques issued but not yet presented Rs.80,760
3. Cheques received by the bank directly Rs. 1,35,200
4. Bank charges not yet recorded in the cash book Rs. 1, 135
5. Insurance premium paid by the bank as per standing instructions not yet intimated Rs. 11,400
What is the total amount to be deducted from the bank balance as per the cash book'?
 A)A) 75,450
 B)B) 91,985
 C)C) 2,15,960
 D)D) None of the above
   
Q. 2Business firms raise funds in the following ways:
1) Additional Capital
2) Earning Revenues
3) Profits
4) Additional Loans
5) Disposing of Assets
 A)A) 1, 2, 3, 4
 B)B) 1, 2, 3
 C)C) 1, 3, 4, 5
 D)D) 1, 2, 3, 4, 5
   
Q. 3The main objectives of accounting include:
1. To maintain complete and proper records of the business
2. To protect business properties
3. To ascertain operating profit or loss
4. To ascertain the financial position of the business
5. To facilitate rational decision making
 A)A) Except 1
 B)B) Except 3
 C)C) Except 5
 D)D) All of the above
   
Q. 4The different types of debtors are:
1) Trade debtor
2) Loan debtor
3) Capital debtor
4) Debtor for asset
5) Debtor for service
 A)A) 1, 2, 3, 4
 B)B) 1, 2, 3, 5
 C)C) 2, 3, 4, 5
 D)D) 1, 2, 4, 5
   
Q. 5Mr. Ratan’s operates two Bank accounts. The transactions upto Feb 28 are as follows:
a) Opening Balance:
Cash: Rs. 1, 500
National Bank: Rs. 11, 240 (overdraft)
Overseas Bank: Rs. 35, 460
b) Received cheque for Rs. 12, 500 in respect of sales for realizing which the National Bank charges Rs. 15
and credited the account
c) Purchased goods for Rs. 13, 210 and a cheque issued on Overseas Bank. The Bank charges Rs. 10 for
collection of the cheque to the concerned party
d) Paid office expenses Rs. 450 and Rs. 155 for stationary
e) Out of cash sales for Rs. 13, 265, a sum of Rs. 10, 000 was deposited into the National Bank account
f) Credit purchases of Rs. 15, 000 were made from Mr. Smith who sent the documents relating to the
goods through the Overseas Bank for 90% of their value. The Bank charged Rs. 115 for releasing the
document
g) Deposited Rs. 5000 in National Bank
h) A Bill receivable for Rs. 20, 000 was discounted with the Overseas Bank which charges 1% towards
discounting
i) Withdrew Rs. 5000 from Overseas Bank
j) A demand draft was purchased for Rs. 3000 from a Bank after paying Rs. 20 towards their charges and
paid to the electricity department as their deposit
k) Interest of Rs. 122 and Rs. 50 was credited and debited respectively by the Overseas Bank and
National Bank
l) An amount of Rs. 15, 000 was withdrawn from the Overseas Bank
m) Manager’s salary of Rs. 10, 000 was paid by cheque drawn on the National Bank
n) Overseas Bank collected dividends of Rs. 22, 500 and sent a credit note
o) An amount of Rs. 15, 000 was transferred from Overseas Bank to National Bank

State the amount balance in the Balance c/d in National Bank Account
 A)A) 21195
 B)B) 21145
 C)C) 21245
 D)D) 21255
   
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