Part –A: I Choose the correct answer from the choices given: 5 x 1 = 5 1.Not-for-profit organisations are formed for: (a) Profit (b) Service (c) Profit & Service (d) None of the above
2. Nanda, Padma and Chandra are partners sharing profits in the ratio of 5:3:2. If Padma retires, the New Profit Sharing Ratio between Nanda and Chandra will be- (a) 5:2 (b) 5:3 (c) 3:2 (d) None of the above
3. Equity shareholders are: (a) Creditors of the company (b) Owners of the company (c) Customers of the company (d) None of the above
4. Current assets does not include: (a) Short term investments (b) Cash & cash equivalents (c) Building (d) Inventories
5. Financial statements of a business enterprise include: (a) Balance sheet (b) Statement of profit and loss and balance sheet (c) Cash flow statement (d) All the above
II Fill in the blanks by choosing the appropriate answers from those given in the brackets. 5 x 1 = 5 (Interest rate, Vertical analysis, Cash outflow, Two, Sacrifice Ratio) 6. In order to form Partnership, there should be at least —- persons. 7. Old share – New Share = ———. 8. 2000, 12% debentures issued at par, here 12% means ——–. 9. Common size analysis is also known as ——. 10. Purchase of any asset by paying cash results in ——–.
11. A B a. Partnership Deed i. Shareholders fund b. Goodwill ii. 2013 c. Realisation A/C iii. Written agreement d. Companies Act iv. Intangible asset e. Share Capital v. Dissolution of Partnership firm
IV Answer the following questions in ONE word or ONE sentence each: 5 x 1 = 5 12. Give an example for not-for-profit organisation. 13. Who is an executor? 14. Expand DRR. 15. Liquidity ratios are short-term in nature (State True/False) 16. Give the meaning of cash flows.
Part –B V Answer any FIVE questions, each question carries TWO marks. 5 x 2 = 10 17. State two features of Receipts and Payments Account. 18. What is fixed capital system? 19. State any two factors which determine the goodwill of the firm. 20. Give the journal entry for an asset taken over by a partner on Dissolution of a Firm. 21. State any two categories of Share Capital. 22. Write any two objectives of financial statements. 23. List any two tools of Financial Statement Analysis. 24. Mention two activities which are classified as per AS-3.
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