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CODE: 202 – TENNIS Duration: 2 ½ hours Marks: 75
Q:1 A) Fill in the Blanks (Any 8 out of 10) 08
i. _______ refers to an activity centre usually located in the same roof but carrying distinct
type of activity.
a) Department b) Branch c) Consignment
ii. Under Stock & Debtors System, __________ shows gross profit made by the Branch.
a) Branch Profit & Loss A/c b) Branch Stock A/c c) Branch Adjustment A/c
iii. Under Debtors System of Branch Accounting, Stock Reserve on Closing Stock appears
__________.
a) On Debit side of Branch A/c
b) On Credit side of General Profit & Loss A/c
c) On Credit side of Branch Adjustment A/c
iv. Power is allocated on the basis of ________ each department.
a) Floor Area of b) Horse power of equipments installed in c) No. of points in
v. Under Hire Purchase, interest paid on the contract is equal to
a) Hire Purchase Price Less Down Payment
b) Cash Price Plus Down Payment
c) Hire Purchase Price Less Cash Price
vi. The extra commission which the agent receives is known as ________.
a) Ordinary Commission b) Del Credere Commission c) Bonus Commission
vii. The consignee sends to the consignor, at regular intervals, the details of sales and
expenses through __________.
a) Account Sale b) Proforma Invoice c) Remittance
viii. Under Hire Purchase Agreement, right of ownership is not passed on to the Purchaser
unless
a) Down payment is made b) Last installment is paid c) Agreement is signed
ix. When the Debit total of Branch Stock A/c is more than it‟s Credit side total, it‟s ______.
a) Stock Shortage b) Stock Gain c) Stock Excess
x. In case of department accounts, when inter-department transfers are at market price, the
unrealized profit in Closing Stock is debited to __________.
a) General Profit & Loss A/c b) Departmental Trading A/c c) Stock Reserve A/c
AND
Q:1 P. True of False (Any 7 out of 10) 07
i. If a department has positive net profit it must be discontinued.
ii. Goods lost by fire / theft etc are credited to Departmental Trading A/c.
iii. Branch A/c under Debtors System is a real A/c.
iv. Branch Adjustment A/c is opened when goods are invoiced at invoice price under Debtors
Method.
v. When goods are sent at an invoice price to Branch, Branch Adjustment A/c is credited to
adjust the loading under Stock & Debtors Method.
vi. The consignee gives advance to the consignor as a part payment of goods received.
vii. Under Consignment, consignor debits goods sent on Consignment A/c with the loading on
goods sent to consignee.
viii. Godown rent is excluded from cost of valuation of Closing Stock of goods on
consignment.
ix. Down payment is made up of part payment towards interest.
x. When you buy something on Hire Purchase you will never own it.
Q:2 A. Rita purchased a car from Tata Motors on 01-01-2011 on Hire Purchase basis. The
necessary details are given below:
Rs.
(1) Cash Price 60,000
(2) Amount paid on signing the agreement 20,000
(3) First Annual Installement 18,000
(4) Second Annual Installment 16,000
(5) Last Annual Installment 13,860
(6) Rate of Interest is 10% p.a.
You are required to show:
(1) Statement of yearly interest calculations.
(2) Rita‟s A/c in the books of Tata Motors.
AND
08
Q:2 B. From the following information of Dept X and Dept Y, prepare Departmental Trading and
Profit and Loss A/c for the year ended 31.03.14
Dept X Dept Y
Opening Stock 13,400 11,200
Purchases 73,600 71,400
Sales 1,10,000 88,000
Salaries 8,000 7,000
Common Expenses / Income: Rs.
Carriage Outward 2,900
Discount Earned 1,450
Depreciation 7,500
Rent / Rates 5,400
Advertisement 8,100
Building Insurance 1,800
General Expenses 4,500
Discount Allowed 2,700
Other Details:
(1) Closing Stock Dept X: 20,500 Dept Y: 17,600
(2) Area occupied by two departments is in the ratio of 5:4
(3) Depreciation and General Expenses are to be allocated equally.
OR
07
Q:2 P. Prepare Branch A/c as per Debtors Method of Branch Accounting from the following
details: Rs.
Balances as on 01.04.12
Stock
45,000
Cash in Hand 750
Debtors 1,125,00
Goods invoiced from Head Office 3,00,000
Credit Sales 1,95,000
Good returned by Customers 11,250
Discount to Customers 1,125
Cash Sales 1,31,250
Payment of Branch Expenses by H.O.
Salaries 41,250
Rent 15,000
Remittance from Branch 3,25,625
Balances as on 31.03.13
Stock 75,000
Debtors 1,01,250
Cash in Hand 250
AND
08
Q:2 Q. Sitara Toy Shop of Mumbai shipped to their agent Bachpan Toy Stores, Nagpur 500 toy
boxes of Rs.500/- each. Bachpan Toy Stores were to receive normal commission of 5% on
sales.
Sitara Toy Shop incurred the following expenses in connection with the
consignment:
Rs.
Carriage 1,500
Intransit Insurance 1,000
Other Expenses 2,000
4,500
Bachpan Toy Stores sold 400 Toy boxes and incurred following expenses:
Rs.
Unloading Charges 500
Advertisement & Salesmen 2,000
Godown Insurance 1,000
3,500
On the day of valuing the consignment closing stock, you are informed that the market
price of one toy box has fallen down to Rs.520/- per toy box.
You are required to value closing stock on Consignment.
07
Q:3 A. A-one Industries Ltd. Acquired a plant on 01.04.2012 on Hire Purchase basis from Suzlon
Power Corporation. Cash price of the plant was Rs.15,30,000/- and A-one Industries made
a down payment of Rs.2,70,000/- against delivery of asset.
M/s A-one Industries paid the balance in 4 installments at the year end on 31st
March including interest @ 10% p.a. The installments were
15
Rs.
1st Installment 5,76,000
2nd
Installment 4,41,000
3rd
Installment 3,15,000
Final Installment 1,98,000
They charged depreciation on the power plant @ 15% p.a. on diminishing balance
method. You are required to prepare
1) Ledger Accounts in the books of A-one Industries along with necessary working notes.
2) Ledger Accounts in the books of Suzlon Power Corporation.
OR
Q:3 P. A Head Office in Delhi has a branch in Mumbai to which good are sent at Invoice Price
which is fixed at a profit of 20% on Invoice Price. Following are the particulars about
branch transactions:
Rs.
Stock (at Invoice Price) on 1st July 2013 5,000
Branch Debtors on 1st July 2013 2,000
Goods sent to Branch 40,000
Total Sales 43,600
Cash Sales 32,600
Cash received from Debtors 8,400
Cheques sent by H.O. to Branch for:
Rent 1,200
Salaries 3,600
Sundry Expenses 300
Discount allowed to Debtors 150
Bad Debts 250
Stock on 31.12.13 (at Invoice Price) 2,100
Goods returned by Customers 600
You are required to calculate profit made by the Branch as per Stock & Debtors System.
15
Q:4 A. Mhatre & Co. of Malad consigned goods to Salabat & Co. of Satara of the value of
Rs.10,000/- i.e., 100 boxes @ cost of Rs.100/- per box. These were invoiced to the
consignee @ Rs.120/- per box. Mhatre & Co. also paid freight Rs.240/- and loading
charges of Rs.160/- They drew on Salabat & Co a bill for Rs.4,000/- which was
discounted for Rs.3,750/-.
An account Sales was received showing that 75% of goods were sold @ Rs.140/-
per box. The expenses of Salabat & Co. amounted to Rs.350/- on clearance of goods and
their commission was Rs.600/-. A bank draft was received from Salabat & Co. for the
balance due.
You are required to show necessary Journal Entries in the books of Mhatre & Co. and
Ledger A/c in the books of Salabat & Co.
OR
15
P. Mandar Chemicals (P) Ltd. has branch at Patna Goods are invoiced to Branch at cost plus
30%. From the following details prepare Branch A/c as per Debtors Method.
Particulars Rs.
Stock on 01.01.2013 26,000
Debtors on 01.01.2013 50,000
Petty Cash on 01.01.2013 250
Goods sent to Patna Branch 1,30,000
Cheques sent to Branch by H.O.
a) Salary 3,000
b) Rent 2,000
Furniture purchased by H.O. for Branch 10,000
Goods returned to H.O. 6,500
Goods returned by customers to Branch 3,000
Total Sales of the Branch 2,23,000
Cash Sales 1,70,000
Expenses paid by Branch 23,000
Collection from Debtors 84,000
Closing Stock on 31.12.13 1,04,000
Petty Cash Balance on 31.12.13 130
Depreciation on Furniture is 10%.
15
Q:5 A. O and K are 2 departments of Red Company of Calcutta. O department transfers goods to
Dept K at normal market price. From the following prepare Departmental Accounts for
the year ended 31.03.13.
Dept. O Dept. K Total
Opening Stock (01.04.12) 12,000 - 12,000
Purchases 2,76,000 24,000 3,00,000
Transfer from Dept. O - 84,000 84,000
Wages 12,000 19,200 31,200
Salaries 8,000 5,000 13,000
Stock on (31.03.13) at cost to respective Dept. 60,000 21,600 81,600
Sales 2,76,000 174,000 4,50,00
Stationery & Printing 2,560 1,960 4,520
Plant & Machinery 14,400 14,400
General Expenses 18,000
Audit Fees 3,600
Advertisement 9,600
Bank Charges 2,400
Depreciate Plant & Machinery by 10%. The General Expenses are to be apportioned in
the ratio O:K in 3:2. You are informed that 7/9
th of Dept. K‟s Closing Stock is from Dept O
OR
15
Q:5 P. Short Notes (Any 3 out of 5) 15
1. Consignment Closing Stock.
2. Stock Reserve in Departmental Accounting.
3. Different types of Branches.
4. Characteristics of Hire Purchase.
5. General Profit & Loss A/c in Departmental A/c.
CODE: 202 – MARIGOLD Duration: 2 ½ hours Marks: 75
Instructions :- (1) All questions are compulsory carrying 15 marks each.
Q:1 A) Select the Appropriate Option and rewrite the following Sentences: (Answer any 8) 08
1. The objective of internal control is to _____________.
a) Prevent Fraud b) Prevent inefficiency
c) Improve financial soundness d) Select right people
2. Size of sample depends on ___________
a) Internal Control System b) Test Checking
c) Routine Checking d) Balance Sheet Audit
3. An auditor cannot have any lien on the books of accounts of the company audited by him
a) As laid down in Section 224 of the Companies Act
b) As laid down by the rules of the Institute of Chartered Accountant of India
c) As laid down in SA 230
d) Since the books cannot be removed from the registered office of the Company.
4. Audit programme is prepared by _________.
a) The client b) The client and the auditor
c) The auditor and his assistant d) The Chief Accountant
5. Audit in depth is a synonymous for
a) Completed Audit b) Continuous Audit c) Final Audit d) Detailed Audit
6. There is no chance of alteration of figures in __________.
a) Social Audit b) Final Audit c) Interim Audit d) Continuous Audit
7. Special Audit can be ordered by
a) Central Government b) State Government c) Municipality d) Grampanchayat
8. An Audit program may be ____________.
a) Statutory b) Permanent c) Fixed or Flexible d) Standard
9. Current file and permanent file are together known as ____________.
a) Audit Plan b) Audit Programme c) Audit Procedures d) Audit Working Papers
10. Audit Technique of ________ means a formal inquiry from outsiders.
a) Confirmation b) Verification c) Observation d) Inquiry
Q:1 B. Match the following (Any 7) 07
Column A Column B
1) Permanent Audit File a) Error of Principle
2) Statutory Audit b) Error of Commission
3) SA which deals with Audit Sampling c) Mandatory
4) Current Audit File d) Memorandum and Articles of Association
5) Special Audit e) SA 530
6) SA which deals with study and
evaluation of Internal Control f)
g)
Audit Programme
Internal Auditor
7)
8)
Report to shareholders
Purchase Book overcast by Rs.700/- h) Under section 233 A of the Companies
Act, 1956
9) Report to Management i) SA 400
10) Cartage paid for newly purchased j) Statutory Auditor
machinery, posted to Cartage A/c k) Error of Omission
Q:2 A. Define Audtitng. What are the Objectives of Auditing?
AND
08
Q:2 B. Explain the term – Fraud. What are the different types of Fraud?
OR
07
Q:2 P. Distinguish between Auditing and Investigation.
AND
08
Q:2 Q. What is Continuous Audit? What are its disadvantages?
07
Q:3 A. What do you understand by an Audit programme? What are the contents of an Audit
Programme?
AND
08
Q:3 B. Discuss different techniques of Audit.
OR
07
Q:3 P. What is Audit Note Book? What are its contents?
AND
08
Q:3 Q. Explain the basic matters in respect of which the Auditor needs to obtain evidence.
07
Q:4 A. What is Internal Control? Explain the internal control for purchases.
AND
08
B. What is Internal Audit? What are its objectives?
OR
07
Q:4 P. What is Test Checking? What are the precautions to be taken by the auditor during test
checking?
AND
08
Q. Distinguish between Internal Audit and Statutory Audit.
07
Q:5 A. What are the features of effective internal control in respect of Debtors?
AND
08
Q:5 B. What are Audit Working Papers? What is the importance of Working Papers?
OR
07
Q:5 P. Write Short Notes (Any 3) 15
1. Routine Checking.
2. Cost Audit.
3. Audit in Depth.
4. Error of Commission.
5. Statutory Audit.
CODE: 202 – PINK Duration: 2 ½ hours Marks: 75
Q:1 A) Choose the Correct Alternative (Any 8 out 10) 08
1. Following includes predicting the requirement of funds.
a) Forecasting b) Capital Structure
c) Raising Sufficient Funds d) Investment Policy
2. The discount rate should be __________ to decrease the given future value
a) Increased b) Decreased c) Minimised d) Remains same
3. Capital Rationing situation is to exist when
a) Funds are limited b) More than one financially viable projects are under consideration
c) Both (a) and (b) d) None of the above
4. If K is the cost of debt and t is the marginal tax, the after tax cost of debt is best
represented by the formula ____________.
a) K/t b) K / (1 – t) c) K (t) d) K (1 – t)
5. Cost of issuing new shares to public is known as ___________.
a) Cost of Equity b) Cost of Capital
c) Flotation Cost d) Marginal Cost of Capital
6. Price-Earning ratio approach is used for estimating the cost by
a) Debenture Capital b) Preference Capital
c) Equity Capital d) Term Loan
7. Which of the following have highest cost of capital?
a) Equity Shares b) Preference Shares
c) Debentures d) Retained Earnings
8. Which of the following is not a spontaneous source of short-term funds?
a) Trade Credit b) Accrued Expense
c) Provision for Dividend d) All of the above
9. Wealth maximization as the goal of the firm implies enhancing the wealth of _________.
a) The Board of Directors b) The Firm‟s Employees
c) The Federal Government d) The Firm‟s Stockholders
10. The job of Finance Manager is confined to _____________.
a) Raising Funds b) Management of Cash
c) Raising of Funds and their effective utilization d) None of these
Q:1 B. Match the following (Any 7) 07
Column A Column B
1) Cost of Capital a) WACC
2) Debenture holders b) Fluctuating
3) Composite Cost c) No right to control
4) Dividend on Equity Capital d) Important for Capital Budgeting
5) Preference Share Capital e) Equity Capital
6) Risky Capital f) Redeemable
7) Scrap Value g) Huge Capital
8) LT Investments h) Added to last year cash inflows
9) Profitability Index i) To get doubling period
10) Rule 72 j) Proportion between inflow and outflow
Q:2 A. Avner Ltd. wishes to raise additional finance Rs.20 lakhs for meeting its investment plans.
The company has Rs.4,00,000/- in the form of Retained Earnings available for investment
purposes. The following are further details:
1. Debt-Equity Ratio 25:75.
2. Cost of Debt at the rate of 10% (before Tax) upto Rs.2,00,000/- & 13% (before Tax)
beyond that.
3. Earning per share Rs.12/-.
4. Dividend Payout 50% of earnings.
5. Expected growth rate 10%.
6. Current Market price per share Rs.60/-
7. Company‟s tax rate is 30%.
Calculate i) Pattern of raising additional finance.
ii) Average after tax cost of debt.
iii) Cost of equity and cost of retained earnings.
iv) Overall weighted average cost of additional finance.
OR
15
Q:2 B. i. Dancing Deer Ltd. has the following Capital Structure. Equity Capital (2,00,000 shares of Rs.10/- each) 20,00,000
Reserves and Surplus 20,00,000
12% Preference Shares 10,00,000
9% Debentures 30,00,000
80,00,000
The market price of equity share is Rs.30. IT is expected that the Company will pay
next year a dividend of Rs.3/- per share, which will grow at 7% forever. Assume 40%
income tax rate. Compute WACC.
ii. A company has on its books the following amounts and specific costs of each type of
capital. Calculate the WACC based on the Market Value.
BV MV Specific Cost
Debt 4,00,000 3,80,000 5%
Preference 1,00,000 1,10,000 8%
Equity 6,00,000 12,00,000 13%
Retained Earnings 2,00,000 - 9%
13,00,000
08
07
Q:3 A. Calculate the cash flow for 5 years if the cash flow at the end of the 1st year is
Rs.2,00,000/- and the growth rate is 5% per year in each of the following cases
a) Increase by 10%
b) Decrease by 10%
c) Static
08
B. State the limitations of Financial Management.
OR
07
Q:3 P. Calculate the PV of Rs.20,00,000/-, Rs.30,00,000/-, Rs.40,00,000/- receivable at the end
of 1st, 2
nd and 3
rd year respectively.
07
Q. Explain emerging functions of CEO. 08
Q:4 A. A project of Rs.20,00,000/- yielded annually a profit of Rs.3,00,000 after depreciation at
12 ½% and is subject to income tax at 50%. Calculate payback period. Cash inflows of a
certain project along with cash outflows are given below:
Year Outflows Inflows Salvage value Rs.40,000/- at
the end of 5 years. The cost of
capital 10%. Calculate NPV
on the basis of discounted
cash flows and state whether
to accept or reject decisions.
0 1,50,000
1 30,000 20,000
2 30,000
3 60,000
4 80,000
5 30,000
OR
15
Q:4 P. Schneider Ltd. is considering the purchase of a new M/C for operations which are at
present carried by Labour. „Jane‟ and „Libson‟ are alternative models.
The following information is available.
Jane Libson
Life in years 5 yrs 6 yrs
Cost Rs.15,000 Rs.24,000
Estimated savings in scrap Rs.1,000 Rs.1,500
Estimated cost if indirect material Rs.600 Rs.800
Estimated savings in direct wages:
Employees not required 15 20
Wages per employee 600 600
Additional cost of maintenance 700 1,100
Additional cost of supervision 1,200 1,600
Depreciation on SLM basis. A tax rate of 50% is assumed. Evaluate machines on Payback
period.
08
Q. Explain IRR Method of Capital Budgeting.
07
Q:5 A. Explain the modern sources of financing.
08
Q:5 B. Explain Public Deposit as a short term source of financing.
OR
07
Q:5 P. Write Short Notes (Any 3) 15
1. Internal Sources of Financing.
2. Explain any 5 new debt instruments.
3. Trade Credits.
4. Bank Overdraft.
5. Discounted Payback Period.
CODE: 202 – EUROPE Duration: 2 ½ hours Marks: 75
Q:1 A) Fill in the Blanks (Any 8 out of 10) 08
1. The fees payable for voluntary registration is ___________.
2. Sale price is defined u/s ____________.
3. In 2002, ________ was introduced.
4. Raw material used for manufacturing is charged VAT at __________ %.
5. Time to apply for registration in case of change in constitution is _________ days.
6. Penalty in case of failure without reasonable cause to comply with any notice in respect of
any proceeding is ___________.
7. Sec 2 (13) defines ____________.
8. Bombay Sales of Motor Spirit Taxation Act was introduced in ____________.
9. VAT is charged in ___________.
10. Sale outside the state is ___________ under VAT.
Q:1 B. True of False (Any 7 out of 10) 07
1. Business includes any transaction of sale or purchase of capital asset.
2. An artist is not a dealer under MVAT.
3. Gift of Jewellery to a friend is not sale under MVAT.
4. Sale price under MVAT shall include tax paid or payable to a seller in respect of such
sale.
5. An importer is liable for registration under MVAT, only if his sales turnover exceeds
Rs.5,00,000/-.
6. Sale of goods falling under Sch A are known as Exempt Sales.
7. The rate of tax on packing material used for exporting goods is Nil.
8. Turnover of imports is not important for deciding whether a person is liable for
registration.
9. Purchase of goods from outside Maharashtra State is exempt from VAT/
10. Sale of scrap is not treated as a business transaction.
Q:2 A. Mr. P is a dealer in Mumbai. Determine whether Mr. P is liable for registration.
Particulars
Sales Purchases
Taxable
within the State
Taxable
outside the State
Taxable
outside the State
April 55,000 - 20,000
May 70,000 51,000 30,000
June 50,000 - 33,000
July 52,000 50,000 50,000
August 75,000 51,000 40,000
08
Q:2 B. Mr. A is a dealer in Satara. Determine whether Mr. A is liable for registration.
Particulars Purchases Sales
Taxable 5,000 17,000
Tax Free 50,000 5,00,000
OR
07
Q:2 P. Mr. W is a dealer in Aurangabad. Determine whether Mr. W is liable for registration.
Particulars Purchases Sales
Taxable Tax Free OMS Taxable Tax Free
June 30,000 15,000 5,000 -
July 40,000 34,000 - 11,000
August 62,000 16,000 4,000 14,000
September 60,000 40,000 2,000 16,000
October 72,000 20,000 4,000 20,000
08
Q. Mr. Y is a dealer in Nashik. Determine whether Mr. Y is liable for registration.
Particulars Purchases Sales
OMS 15,000 NIL
Taxable 19,000 8,000
Tax Free 75,000 1,25,000
07
Q:3 A. Sale excluding Sales Tax Rs.2,50,000/-
OMS Sale Rs.1,50,000/-
Labour charges received Rs.1,20,000/-
Sale of Sch C goods Rs.40,000/-
Sale of Sch A goods Rs.35,000/-
Purchase of Sch A goods Rs.5,00,000/-
Purchase from Gujarat @ 2% CST Rs.2,00,000/-
Labour charges paid Rs.1,20,000/-
Purchase of Sch C goods used in manufacturing Rs.50,000/-
Set-off Rs.30,000/-
Calculate net tax payable under MVAT
08
B. State with reasons which of the following transactions are sales under MVAT Act,
2002:
07
1. Transfer of goods from Head Office to Branch.
2. Hypothecation of goods.
3. Sale of Motor Car.
4. Gift of Jewellery to friend.
5. Air Conditioner servicing charges received.
6. Exchange of Mobile Handset.
7. Donation given.
OR
Q:3 P. Purchase
Sch C Rs.2,00,000/-
Sch E Rs.3,00,000/-
Sch D Rs.3,00,000/-
Export Sales
Sch C Rs.4,00,000/-
Sch A Rs.2,00,000/-
Sch E Rs.1,00,000/-
Sales
08
Sch A Rs.80,000/-
Sch B Rs.40,000/-
Sch C Rs.1,00,000/-
OMS sale Rs.2,00,000/-
Labour charges received Rs.80,000/-
Sales Return
Sch A Rs.4,000/-
Sch E Rs.6,000/-
Sch C Rs.10,000/-
Set –off Rs.15,000/-
Calculate net tax payable under MVAT.
Q. Calculate net tax payable under MVAT.
Particulars Sch B Sch C Sch D
Sales
January 52,000 86,000 70,00
February 2,50,000 3,50,000 4,50,000
March 60,000 1,80,000 1,30,000
Sales Return
January 5,000 8,000 11,500
February 6,000 9,000 7,500
March 1,000 18,000 3,000
07
Q:4 A. Calculate net tax payable under MVAT. Opening Balance (credit) of MVAT credit
receivable account is Rs.7,500/-.
Particulars Sch A Sch B Sch D Sch E
Sales 5,00,000 1,50,000 1,80,000 4,00,000
Sales Return - - 10,000 30,000
Purchases 3,00,000 75,000 - 2,00,000
Purchase Return 20,000 5,000 - 40,000
08
B. State with reasons which of the following items are goods under MVAT Act, 2002: 07
1. Newspaper
2. Mango trees
3. Equity Shares
4. Residential flat used for Business
5. MalaiPaneer
6. Actionable Claim
7. Sim card in mobile phone
OR
Q:4 P. Calculate net tax payable under MVAT:
Local Sales Rs.1,20,000/-
Export Sales Rs.3,00,000/-
Sale of Sch B goods Rs.3,00,000/-
Sale of Sch A goods Rs.5,00,000/-
Purchase from Punjab Rs.4,00,000/-
Purchase from registered dealer Rs.2,00,000/-
08
Purchase from unregistered dealer Rs.7,00,000/-
Raw Material X purchased (Sch E) Rs.3,00,000/-
Raw Material Y purchased (Sch D) Rs.1,00,000/-
Sale of Sch D goods Rs.9,00,000/-
Set-off Rs.50,000/-
Q. State with reasons which of the following activities are manufacturing activities
under MVAT Act, 2002.
07
1. Cutting steel sheets into small sheets.
2. Polishing gold ornaments.
3. Assembling TV set from various parts.
4. Manufacturing of Ball Bearing.
5. Labelling.
6. Retreading of old tyres.
7. Repairing leakage from wooden drum.
Q:5 A. Define and explain the following u/s 2 of MVAT Act, 2002:
1) Business
2) Turnover of Sales
08
Q:5 B. Explain certain sales and purchases not liable to tax u/s 8.
OR
07
Q:5 P. Write Short Notes (Any 3 out of 5) 15
1. Tax Audit u/s 61.
2. Incidence of Tax u/s 3.
3. Composition schemes us/s 42.
4. Reduction in set-off – Rule 53.
5. Penalty u/s 29.
CODE: 202 – LEO Duration: 2 ½ hours Marks: 75
Q:1 A) Fill in the Blanks (Any 8) 08
1. Fraud is ______ type of contract.
2. Promisor‟s existing obligation cannot be accepted as ___________.
3. When two or more parties agree to the same thing in the same sense it is called _______.
4. Where the party abandons his right under contract it is called ________.
5. In Contract of Indemnity there are ________ number of Contract/s.
6. The liability of Surety in Contract of Guarantee is _________.
7. In sale __________ is immediately transferred.
8. Sale is ________ type of contract.
9. ___________ is an unconditional order according to Negotiable Instrument‟s Act.
10. Goods bought and used for ____________ purpose is not included in Consumer
Protection Act.
Q:1 B. State Whether True of False (Any 7) 07
1. All contracts are agreements but all agreements are not contracts.
2. Agreement is contract enforceable by Law.
3. Definition of Fraud is given u/s 15 of the Indian Contract Act.
4. Minor is a party who is competent to Contract.
5. On a Contract of Indemnity, minimum 2 parties are necessary.
6. Delivery of goods from one person to another person for some purpose is called Lien.
7. Right in personam is right created against the whole world.
8. Warranty is a stipulation secondary to the main purpose of the Contract.
9. To become holder in due course it is not necessary to become holder first.
10. Any fault, imperfection in the quality, nature of performance in relation to any service is
called Defect under Consumer Protection Act.
Q:2 A. Define Contract. Discuss essentials of Contract.
08
Q:2 B. What is proposal? Explain rules or essentials of valid proposal.
OR
07
Q:2 P. State the Agreements which are expressly declared to be void.
08
Q. Explain free consent.
07
Q:3 A. What is Contract of Agency and how is agency created?
08
B. Discuss rights and duties of Bailor and Bailee. 07
OR
Q:3 P. Distinguish between Sale and Agreement to Sale
08
Q. Explain the rules for Transfer of Property under Sale of Goods Act.
07
Q:4 A. Define Cheque. Explain crossing of cheque along with its essentials.
08
B. What is Negotiable Instrument? What are its essentials? 07
OR
Q:4 P. Explain the object and reason of Consumer Protection Act.
08
Q. Explain Consumer under Consumer Protection Act in detail. 07
Q:5 A. “No one can give what he himself does not possess”. Explain this statement according to
Sale of Goods Act.
08
Q:5 B. Distinguish between promissory note and Bills of Exchange.
OR
07
Q:5 P. Write Short Notes (Any 3) 15
1. Acceptance.
2. Contract of Guarantee.
3. Condition under Sale of Goods Act.
4. Bills in Sets.
5. Unfair Trade Practice under Consumer Protection Act.
CODE: 202 – YAMUNA Duration: 2 ½ hours Marks: 75
Q:1 A) Fill in the Blanks (Any) 08
1. The function f(x) = x2 – 2x + 3 is of the type __________.
2. For the function f(x) = 4x2
– 3x + 1; its value at x = -1 is __________.
3. If f(x) = kx – 3 and f(1) = 0, then k is ________.
4. If the simple interest for an amount for one year at a certain rate of interest is Rs.750/-, then
the simple interest for the same amount at the same rate for 4 years is _______.
5. The simple interest on Rs.15,000/- for 8 months at 10% p.a. is ____________.
6. The compound interest of an amount for one year @ 12% p.a. will be maximum if the
compound interest is calculated __________.
7. If the payments of annuity are made at the beginning of each period; the annuity is called
___________.
8. The data collected for the first time is known as _________.
9. The classification of employees according to age and salary is __________.
10. The limits between which middle 50% of the observations of a frequency distribution lie are
____________.
Q:1 B. Match the following (Any 7) 07
Column A Column B
1) Range a) Mode
2) Arithmetic Mean b) Square of Standard Deviation
3) Most often repeated value c) Median
4) Difference between highest and lowest d) Based only on two observations
5) Variance e) Perpetuity
6) Special types of averages f) Mathematic Average
7) Divide data into 2 equal parts g) Annuity
8) Divide data into 4 equal parts h) Index Numbers
9) Annuity in which no. of payments are
infinite i)
j)
Range
Infinity
10) Sequence of payments made at equal
intervals of time. i)
k)
Immediate annuity
Quartiles
Q:2 A. On what sum of money will the difference between compound interest and the simple interest
for 2 years at 6% p.a. will be Rs.27.36?
08
Q:2 B. A computer is priced at Rs.50,000/-. A mall offers an installment plan under which
Rs.10,000/- is paid by a customer at the time of purchase and 4 equal quarterly installments
are made later at the end of each quarter. The company has calculated these installments,
keeping in mind the rate of interest as 16% p.a., compounded quarterly. What sum of money
is paid at an installment?
OR
07
Q:2 P. The simple interest and the compound interest on a sum of money at a certain rate for 2 years
is Rs.1,260/- and Rs.1,323 respectively. Find the sum and the rate.
08
Q. A person has taken a loan of Rs.40,000/- from a money lender who charges a high interest at
10% per month. The person returns the loan in equal installments in 3 months. Find his EMI.
Calculate the interest component and principal repayment component (Amortization table) of
the EMI for each month.
07
Q:3 A. Represent the following data using
i) Frequency Polygon ii) More than cumulative frequency curve Height (cms) 150 – 154 154 – 158 158 – 162 162 – 166 166 – 170
No. of Children 10 12 20 10 8
08
B. Calculate mean deviation from mode for the data given below. Also calculate coefficient of
mean deviation from mode: Bill in (Rs.) 500–600 600–700 700–800 800–900 900–1000 1000–1100
No. of Families 60 120 150 130 80 40
07
OR
Q:3 P. Calculate the standard deviation for the data giving the reduction in weight of 100 persons
after using a medicine for slimming. Reduction in
Weight (kgs)
2 – 4 4 - 6 6 – 8 8 – 10 10 – 12
No. of Persons 5 15 35 30 15
08
Q. Two groups combine together has 250 items. The means and variance of these items are 51
and 130 respectively. If the first group had 100 items and their means and standard deviation
were 45 and 7 respectively, find the means and standard deviation of the second group.
07
Q:4 A. Calculate
i) Unweighted Aggregate ii) Weighted Aggregate iii) Unweighted Average
iv) Weighted Average index number for the following data Commodity Base Year
Price
Current Year Price Weight
Rice 8 10 12
Wheat 9 10 15
Milk 7 11 18
Sugar 10 15 6
08
B. Calculate Laspeyre‟s and Fisher‟s index numbers for the data given below: Commodity Base Year Base Year
Price Quantity Price Quantity
A 4 10 5 12
B 3 8 6 10
C 2 8 3 9
D 5 4 8 5
07
OR
Q:4 P. Verify that Marshall-Edgeworth index number is an approximation to Fisher‟s index number
from the following data: Commodity Price Quantity
1995 2000 1995 2000
P 4 5 15 20
Q 8 12 20 30
R 6 8 25 20
S 6 8 3 4
08
Q. Calculate Kelly‟s and Walsh‟s index numbers for the following: Commodity 1995 1998
Price Quantity Price Quantity
P 12 25 15 28
Q 10 20 15 25
R 4 15 6 12
S 6 20 9 15
07
Q:5 A. Explain function of Statistics.
08
Q:5 B. Explain limitations of Statistics.
OR
07
Q:5 P. Write Short Notes on following Terms (Any 3) 15
1. Mathematical Functions.
2. Annuity.
3. Wholesale price index number.
4. Classification of data.
5. Parts of a table.
CODE: 202 – VIOLIN Duration: 2 ½ hours Marks: 75
Q:1 A) Fill in the Blanks with Correct Answer (Any 8) 08
1. A ________ letter requests overdue payment.
a) Sales b) Collection c) Recommendation
2. An interview involves ___________ communication.
a) Selection b) Grievance c) Face-to-face
3. Americans can take decisions very fast is a ________ barrier of communication.
a) Individual Culture Barrier b) Status c) Language Barrier
4. The writer should express ___________ for making a complaint.
a) Regret b) Joy c) Condolence
5. ___________ is the skills to use power of words in a variety of situations.
a) Graphic b) Presentation c) OHP
6. Employees speak frankly and fearlessly in an ___________ interview.
a) Selection b) Exit c) Appraisal
7. __________ is a kind of advertising in business communication where informality is
appreciated.
a) Inquiry letter b) Sales letter c) Order letter
8. _________ are the outcome of inquiries quotation or voluntary offers.
a) Inquiry letter b) Complaint letter c) Order letter
9. __________ uses body language, pictures, colours etc.
a) Verbal skills b) Visual skills c) OHP
10. __________ interview a disciplinary action is taken against employee.
a) Grievance b) Selection c) Reprimand
Q:1 B. State True of False (Any 7) 07
1. Interviewee must know the Company in which he is seeking job.
2. Offering a discount is a bad sales strategy.
3. Audience analysis is not important for presentations.
4. Decision making is an individual cultural barrier.
5. Supporting materials in a presentation includes weapons, ladders, tools, etc.
6. Appraisal interview should be conducted every week.
7. Verbal skills refer to language writing communication.
8. The stress interview is conducted with the help of stress machine.
9. In school you are taught to write in the indented form.
10. In NOMA form salutation is used while writing a letter.
Q:2 A. Draft a letter of inquiry to a supplier of stationnery articles that you will consider contracts
for the supply of pencils, notebooks, paper and ink to your office, for a period of ten
months from June to March. Ask him to send a representative ot discuss the terms.
08
Q:2 B. Sparkle Decorators, Green Road, Bandra were given a contract for the renovation of
M/S Deluxe Proprietors auditorium in a month‟s time. The work was completed one
month late and the lighting arrangement is uneven. Draft a letter to the decorators
expressing dissatisfaction with the work and your intention to charge a penalty for the late
completion of work.
OR
07
Q:2 P. Give suggestions to overcome cultural barriers in Communication.
08
Q. Sony Mony Electronics delivered a Kodak Camera to Mr. Sohail Kumar five months ago.
He now claims that it is defective and asks for an exchange. Inspection shows that it has
been carelessly handled. Write a tactful letter to him convincing him why exchange is not
possible.
07
Q:3 A. A Kindergarten School, Dadar has placed an order for 300 boxes of coloured magic
crayons to distribute it to the students for summer break. Draft a letter of order to
manufacturer and convince him to pack them specially designed package with no extra
charge.
08
B. Draft a sales letter to promote luxury apartment to businessmen. 07
OR
Q:3 P. M/S Star event management private limited have not paid their bill of Rs.1,00,000/- even
after casual reminders have been sent. Draft a letter by making it clear that unless the bill
is paid within a week, legal action might be the only solution.
08
Q. Discuss the principles of effective presentation.
07
Q:4 A. The interviewee must have a clear understanding of the job. Discuss.
08
B. Mrs. Iyer has put a claim on Vijay Sales that the computer purchased by her one month
ago is not working properly. Draft a letter to refuse customer claim as a Sales Manager. 07
OR
Q:4 P. Wanted Account Managers by an International Organization in Surat.
Qualification – Commerce Graduate with minimum 60%.
Experience – 2 years in similar job.
Apply with full details to Indian Express, Marine Lines, Mumbai – 400 001.
08
Q. Swadeshi Cloth Shop has for the first time failed to settle his account though you have
sent first reminder. Draft a letter to him inquiring whether he has any difficulty in meeting
commitment. (The layout of letter should be in Full Block Form).
07
Q:5 A. Discuss the different graphic aids used for effective presentation.
08
Q:5 B. Explain the content required to make a resume.
OR
07
Q:5 P. Write Short Notes (Any 3) 15
1. Exit Interview.
2. Language Barrier.
3. Reprimand Interview.
4. Indented Form.
5. Under Stress Interview.
