INTERNAL ASSIGNMENT – Oct2023

INTERNAL ASSIGNMENT
Course Code: - MBA 103 Last Date of Submission:
Course Title: - Financial Reporting and Analysis
Assignment No.:- 1 Maximum Marks: 30
Note:
1. The assignment will have two parts, A and B. Part A is of 10 MCQ type Questions of 1 mark
each.
2. Part B is of 20 Marks having 8 Descriptive Questions. Attempt any 5 out of it.

Part-A (10 x 1 = 10 Marks)

Q.No. Question CO
1 What do we understand from financial statements? 2
A. A group of reports regarding the organization’s various financial
aspects.
B. A group of reports regarding the employee’s data.
C. A collection of reports pertaining to the organization’s vision and
mission.
D. None of the above
2 Which of the following is a disadvantage of the financial statements. 3
A. The ability to tell if a business would be able to pay the debts
B. Determining the sources and use of cash in the organization
C. Chance of manipulation in the report for obtaining debt that the
organization cannot payback
D. A yearly report that the investors can refer to
3 What does a balance sheet indicate out of the following options 5
A. The demographic details of the employees
B. The overall organization’s liabilities, assets as well as stockholders’
equity
C. The report regarding the weekly work progress of the organization
D. None of the above
4 Which of the following is not a part of the financial reports of the 3
organization
A. Balance sheet
B. Income statements
C. Report with the vision and mission of the organization
D. Report regarding the flow of cash
5 Which of the following can be a part of financial reports? 2
A. A. The report regarding the financial result of the
organization
B. B. The report with details about the financial position of
the organization
C. C. The report regarding the flow of cash of the
organization
D. D. All of the above
6 E. In a balance sheet report, the total value of assets 1
should be able to match the worth of the following
A. A. The total sum of equity and liabilities
INTERNAL ASSIGNMENT – Oct2023
B. B. Total number of employees in the organization
C. C. The total earnings of the organization in the past week
D. D. The total number of new employees hires in the
organization during the past year
7 Which of the following is the most suitable statement for explaining 2
the statement of cash flows
A. A. Report regarding the assets, equity and liabilities
B. B. Report explaining the purpose of business
C. C. Report regarding the changes in the flow of cash for a
particular time
D. D. Report regarding the working and functioning of the
organization
8 Which of the following can be a part of liabilities in the balance 1
sheet
A. A. Debts
B. B. Dividends payable
C. C. Wages that are payable
D. D. All of the above
9 What are the limitations of the financial statements: 2
A. A. There can be subjective interpretations of the
financial statements as per the investors
B. B. There may be manipulation done in the financial
statements such that the real profit-loss of the
organization is not shown to the investors
C. C. The financial statements give a detailed description of
the cash flow of the organization
D. D. Both A and B
10 Which of the following can be called very important in terms of the 4
financial statements
A. A. The report regarding ethics of the organization
B. B. The list of holidays in the organization
C. C. Cash flow statement, balance sheet and the income
statement
D. List of investors for the organization

Section B (20 marks)

Attempt any five from Q1 to Q8. Question (5x 4 = 20 Marks)

Q.No. Question COs

1 Define accounting AND Explain the objects of accounting. 1
2 How accounting information is used by investors and lenders? 2
3 How Government and Regulatory agencies use accounting information to regulate 3
the activities of the firm?
4 Explain the double entry system of Book Keeping. 4
5 Difference between double entry system and single entry system. 5
6 What do you mean by IFRS? What are the features of IFRS? 1
7 What are the features of financial statements as per IFRS norms? What are the 2
elements of financial statements?
INTERNAL ASSIGNMENT – Oct2023
8 What is the significance of Journal as a book of prime entry? 3