Chapter wise Past Papers – FEB 2024 Updated

Compiled by: Arib S.

[Thanks to all the students who shared their exam feedbacks]

Fundamentals of Financial Accounting (FFA)

Find answers of below questions, solved descriptive and other study
material such as Recommended Lectures, Notes, Books, Past Papers of your
respective subject in this google drive:

https://drive.google.com/drive/folders/1EdfluOCsZ_NUiRZE_oJ
RT9eXiK4d4aT3

NOTES FROM THE ADMIN:

 You can find all PP (2022-FEB 2024) in this document categorize according
to their related chapters.

 Similar questions/topics from multiple students are written just once.

 Some questions/topics relate to MORE THAN one chapter, that’s why they
might be written in more than one chapter too.
 MTQs are mentioned at the last!

For any query or confusion, contact:

Name: Arib S.
Phone Number: 03352232888 FFA Paper Pattern:
 30 MCQs of 2 marks each: 30x2= 60
 3 MTQs of 10 marks each: 3x10= 30
 2 Theoretical Descriptive of 5 marks
each: 2x5= 10
60+30+10=100
 Chapter: Accounting Nature and Objectives + Introduction to Financial Accounting
1. Financial book 2022
2. Accounting cycle and process 2023
3. Five business activities 2022, 2023, FEB’24
4. List any 5 expenses incurred due to business activity. 2022, 2023

Chapter: Accounting Regulatory Framework + Accounting Concepts and Conventions

1. Define balance sheet and give the examples of assets, liabilities and capital. 2023, FEB’24
2. Expenses 2023

Chapter: The Accounting Equation

1. Simple question about Accounting Equation 2023

Chapter: Double Entry and Ledger accounting

1. Diff bw Book keeping and accounting 2022, 2023, FEB’24
2. General Journal 2023
3. General ledger 2023
4. Subsidiary ledger 2023

Chapter: Source Documents and Books of Prime Entry

1. Cash book 2022

Chapter: Accounting for Sales Tax and Payroll

1. Or aik question tha os ka ander os na muga total unit sales or price of per unit di hoi thi Dec’2023
or expense bataya tha ka 10percent of sale tax tha 30 percent of sale or os na Koch
missing figures di thin on ka answer find krna tha gasa ka profit before tax and profit
after tax gross profit etc
2. Define reducing balance method Dec’2023, FEB’24

Chapter: Accruals and prepayments

NO QUESTIONS YET

Chapter: Bad debts and allowances for receivables

1. Definition and types of bad/doubtful debts Dec’23, FEB’24
 Chapter: Accounting for Inventories
1. Inventory turnover how to calculate r briefly explain business entity? Dec’23, FEB’24
2. FIFO method 2022, 2023
3. Find profit or loss find kar tha entrees di wi thi 2 bank reconciliation 3 the fifo method 2023

Chapter: Control Accounts Reconciliation

1. control account 2023

Chapter: Bank Reconciliation’s

1. Cash book 2022, 2023
2. Bank reconciliation? It's importance 2023
3. Find profit or loss find kar tha entrees di wi thi 2 bank reconciliation 3 the fifo method 2023

Chapter: Tangible non-current assets + Intangible non-current assets

1. assets and types 2023
2. Calculate machine purchasing cost 2023
3. define non current asset. And briefly explain 3 example of non current asset? 2023, FEB’24
4. Depreciation straight line 2023
5. Explain Diminishing Balance 2023, FEB’24
6. intangible and tangible with two examples 2023, FEB’24
7. Machine purchasing entry 2023
8. What is depreciation. which information provides for calculating the depreciation. Dec’23, FEB’24
9. what is depreciation? Give the formula of reducing method. Dec’23, FEB’24
10. What is the benifts of deprciation 2023

Chapter: Payables, Provisions and Contingencies

1. When contingent liability recognized? Dec’23, FEB’24

Chapter: Journal Entries and Suspense Accounts + Correction of Errors

1. Subsidiary book 2022, 2023
2. Errors affecting trial balance 2023
3. Machine purchasing entry 2023
4. rectification of errors 2023
5. Define errors 2023, FEB’24
6. Entries under perpetual accounting system FEB’24
7. Or aik ma transaction di thi btana tha issy konsa acc debit hoga konsa credit jaisay FEB’24
 goods bought on credit ki transaction

Chapter: Trial balance and Financial statements

1. Financial statement And its objective 2022, 2023, FEB’24
2. Define balance sheet and give the examples of assets, liabilities and capital. 2023, FEB’24
3. Errors affecting trial balance 2023
4. Loss gain on exhange 2023
5. Trial balance 2022, 2023

Chapter: Incomplete records

NO QUESTIONS YET

Chapter: Income and expenditure accounts

1. capital and revenue expenditure 2023
2. Diff btw income and expenditure 2023, FEB’24
3. Features of Income and expenditure account 2023
4. Features of receipt and payment account 2023
5. Income statement with example of revenue & expenditure 2022, 2023, FEB’24
6. Statement of P & L 2023, FEB’24
7. Expenses 2023
8. Revenue and expense with two examples 2022, 2023

Chapter: Statements of cash flows

1.Define Cash flow and its uses. 2023
2.Working capital 2023

Chapter: Financial Ratios

1. Capital invested and Capital employed 2023, FEB’24
2. Change in equity 2023

MTQs
1. Machine purchase on 1st january 2011. Cost is 3000000. Transportation 2023
charges 2000. Installation n testing 48000. Life 10 yrs. Salvage value 200000.
Method straight line. Purchase new machine cost 5000000 with exchange of
old machine in 2000000. Calculate machine purchasing cost. Pass journelry
for machine cost and other than cost. calculate dep for 2011 2012 2013 2014
 2015 and 30 june 2016. gain or loss on exchange of machine). Create a trial
balance. Create statement of profit and loss. Find the cost of equipment
shipped from outside, it's depreciation and profit/loss on disposal.
2. Adjustment entries 2022, 2023, FEB’24
3. Balance sheet 2023, FEB’24
4. Bank reconciliation 2022, 2023, FEB’24
5. calculation of cost, 2022, 2023
6. Cash flow 2023
7. Depreciation 2023, FEB’24
8. Depreciation gain/loss 2022, 2023, FEB’24
9. Disposal 2023, FEB’24
10. FIFO (Periodic method) 2022, 2023
11. Fifo method 2023
12. General journal 2023
13. Income statement 2023, FEB’24
14. Inventory valuation 2023
15. Journal entry 2023, FEB’24
16. Journal ledger 2023
17. SOFP 2023. FEB’24
18. SOPL 2022, 2023, FEB’24
19. SOCI 2022, 2023, FEB’24
20. statement of cash flows 2022, 2023
21. Trial Balance 2022, 2023
22. Cost of good sold and closing inventory perpetual FEB’24
system

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