February 2010 Bachelor of Science in Information Technology (BScIT) – Semester 4 BT0048 – Accounting Principles & Practice – 4 Credits

(Book ID: B0429)

Assignment Set – 1 (60 Marks)
Answer all questions 1. Briefly explain the functions of accounting. 2. Explain the three branches of accounting. (05 marks) (05 marks)

3. What is single entry system? What are the advantages and disadvantages of Single entry system? 4. Briefly explain the types of business transaction. 5. What do you mean by Bank reconciliation statement? (10 marks) (10 marks) (05 marks)

6. Briefly explain the structure of GAAP along with the pictorial representation. (10 marks) 7. Explain the Debit and Credit rules with real life examples.

(10 marks)

8. Explain the statement of changes in financial position.

(05 marks)

February 2010 Bachelor of Science in Information Technology (BScIT) – Semester 4 BT0048 – Accounting Principles & Practice – 4 Credits
(Book ID: B0429)

Assignment Set – 2 (60 Marks)
Answer all questions

1. On 2nd April, 2008, Mr Rajesh sold goods to Mr. Suresh for Rs. 10000 and drew
a 3 months’ bill on him for the amount. Mr. Suresh accepts it and returns it to Mr. Rajesh. Pass Journal entries in the books of both the parties. (10 marks) 2. What is trading account? 3. Explain balance sheet and profit & loss account. 4. Which are the expenses shown under profit & (05 marks) (10 marks) loss account?

(10 marks) 5. What are the different classifications of error? 6. How do you rectify the error? 7. Briefly explain the characteristics of Bill of exchange. (10 marks) (05 marks) (10 marks)

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