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DMBA104 - Financial and Management Accounting Assignment
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Assignment Task
Questions
1. Explain any two of the following accounting concepts with illustration:
- Business entity concept
- Dual aspect concept
- Matching concept
2. With the help of given information prepare a statement of gross profit for XYZ Ltd.
|
Particulars |
Rs. |
|
Opening stock |
10000 |
|
Credit purchase |
25000 |
|
Cash purchase |
15000 |
|
Purchase return |
2000 |
|
Other direct expenses |
12000 |
|
Closing stock |
6000 |
|
Cash sales |
35000 |
|
Credit sales |
65000 |
|
Wages |
9000 |
|
Salaries |
7000 |
|
Sales return |
5000 |
3. Write a detailed note on different types of subsidiary books and their importance in recording accounting transactions. Also demonstrate specimens of any 2 types of subsidiary books.
4. The liquidity of a business firm is measured by its ability to satisfy its obligations as they become due. Explain in detail the ratios used for this purpose
5. Discuss the main features of marginal costing. Also, give a brief of contribution as a technique of marginal costing.
6. Elaborate the concept of variance analysis? Briefly describe the concepts of material variance and labour variance considering their different types.
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