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Please Share ALL Current Final Term Papers Spring 2015 & Past FinalTerm Papers at One Place from 22 August 2015 to 2 September 2015
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+ Click Here to Search (Looking For something at vustudents.ning.com?) + Click Here To Join (Our facebook study Group)Make T- A/C for A/C Payable
Opening Balance 250000
Credit Purchases 200000
Cash Payement (Diff of all)260000
Less Closing Balance(should be) 190000
It Was very difficult exam.
Mcq's were not from past papers at all almost.
Other questions are as follow:
Q1-What is the accounting treatment of asset and rentals under operating lease in the books of lessee?
Q2-List down any three major items that can be used in determining cash flow from investing activities as per IAS-7.
Q3-Major Items used in Cash flow from investing activities as per IAS-7 are as follow:
Q4-If:
Required: Prepare statement of retained earnings to determine net income.
Q5-Enlist the items which should be disclosed on the face of income statement as allocation of profit and loss for the period.
Q6-Discuss Contingent Liability as per IAS-37:
Q7-Enlist the situations which normally lead to a lease being classified as an Operating Lease.
Q8-Explain the difference between administrative and selling cost with appropriate examples.
Q9-Briefly describe Disclosure requirements of “Prior Period Errors” as per IAS-08.
Q10-The following information is available from Burger corporations for the year ended December 31, 2014.
Particulars |
Rs. |
Cash received from customers |
870,000 |
Rent received |
10,000 |
Cash paid to suppliers and employees |
510,000 |
Taxes paid |
110,000 |
Cash dividends paid |
30,000 |
Required:
Prepare schedule to determine
Q11-Write down the conditions which are necessary for recognizing a provision as per IAS-37.
my todays Paper
MCQ's were not about asking for IAS / Sections, some calculation based like compound interest / simple interest / Prent Value
Subjective:
Operating Activities
Diff B/W Distribution Costs and Selling Cost
find PV of MLP
Constructive Obligation
IAS 8 if there is no IAS then how to manage company policy
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