KNU/2021/LLBHSE201

Award: 3 Year LL.B (Honours)

Discipline: LAW

Course Type: SEC

Course Code: LLBHSE201

Course Name: Accounting System

Full Marks: 40 Time: 2 hours

The figures in the right hand margin indicate full marks.

Candidates are required to give their answers in their own words as far as possible
Illustrate the answers wherever necessary

1. Answer any five questions [1x5=5]

I. Which of the following statements is correct:
(a) Book keeping is a part of Accounting
(b) Accounting is a part of book-keeping
(c) The term book-keeping and accounting can be used interchangeably
(d) Book keeping is not a part of accounting
II. The sum of Liabilities and Capital is-
(a) Expense
(b) Income
(c) Drawings
(d) Assets.
III. Debit the receiver, credit the giver is rule for
(a) Personal account
(b) Tangible real account
(c) Nominal account
(d) Representative personal account
IV. The users of accounting information system can be
(a) accountants
(b) consultants
(c) business analysts
(d) all of the above
V. Information systems are
(a) transaction Processing System
(b) Management Information System
(c) Decision Support System
(d) All of the above
 VI. An accounting information system (AIS) processes ……… to provide users with ………
(a) Data: information
(b) Data; transaction
(c) Information; data
(d) Data; benefits

VII. Information that is free from error or bias and accurately represents the events of
activities of the organisation is-
(a) Relevant
(b) Reliable
(c) Verifiable
(d) Timely
VIII. Capital is-
(a) Expenses
(b) Assets
(c) Income
(d) Liabilities

2. Answer any five questions [2x5=10]

i. State two users of accounting information?
ii. Define Accounting
iii. What is debit and credit?
iv. What is the role of Accounting Information System?
v. Who are the users of Accounting Information system?
vi. Mention two quantitative characteristics of accounting information system.
vii. Define Assets.
viii. Define liabilities.
3. Answer any three questions [3x5=15]
i. What are accounting transactions?
ii. Discuss the functions of Accounting Information system.
iii. What are the Golden rules of accounting?
iv. Explain Accounting Control.
v. Discuss types of accounts.
4. Answer any one question [1x10=10]
i. What are the advantages and disadvantages of double entry system?
ii. Define Accounting. What are the objective and limitation of accounting?
iii. What are the objectives and advantages of accounting information system?