Important Questions for Financial Accounting- BBA

Theory :
1. What do you mean by Accounting. Also explain its functions and process.
2. Describe the scope and limitation of accounting. Also explain its various
branches.
3. Difference between accounting and book keeping
4. Difference between accounting and Accountancy
5. Difference between cash basis and accrual basis of accounting.
6. Difference between provision and reserves
7. Difference between Capital and Revenue Expenditure.
8. Cash discount v/s trade discount
9. Forfeiture of shares v/s Surrender of shares
10.What do you mean by deferred revenue expenditure . explain with suitable
examples.
11.What do you mean by Accounting Principles and concept. Explain all the
accounting concepts and principles.
12. What do you mean by Accounting standards. Explain its objectives,
features and importance.
13.What do you mean by IFRS. Explain its objectives, features and importance.
14.Explain the terms GAAP, US- GAAP and Ind- GAAP.
15.What do you mean by Opening entry, closing entry and compound entry
16.What do you mean Trial balance. Explain its features, advantages and
limitations. Also explain the errors not disclosed by trial balance.
17.What do you mean Depreciation. Explain its causes and Need. Also describe
Various types of methods of charging depreciation.
18.Amortization v/s Depreciation v/s Obscelence.
19. Explain the various types of Provision & reserves.
20.Explain the following terms in details:
a. Human Resource accounting.
b. Inflation accounting
c. green accounting,
d. Accounting for CSR and sustainability
21. What do you mean by Right shares? How are they different from bonus
shares and sweat shares?
 22.Explain the main provisions regarding issue of shares at premium and
discount?
23. Explain different types of debentures.

Practical Questions: Depreciation

Q.
Q. Prepare Trading A/C, P& L A/c and Balance Sheet.