BACHELOR'S DEGREE PROGRAMME

Term-End Examination

December.2OO5

ELECTIVE COURSE : COMMERCE

ECO-1 : EUSIN€SS OPGANISATTON

Time : 2 hours Msximum Morks : 50(Weightage 7tr/d

Note I Attempt batt, Secl,on A and Section B.

SECNON A

l. Attempt any tost of the following r 5+5+5+g

{a) Distinguish betw€en a fJublic timlted company and aplilate limit€d company.

(b) Write a brief note on retatned profit$ as a souie oflong-ieim capital.

{c) Dl{f€rentiate behr€en {ix€d capital and workingcapital.

{d} What is outdoor media ot advertisirE ? When do youpreJe? thls D€dium for advertising ?

P.T.O.

{e} Staie the leahv€l of an ideal medium of advertislng.

(0 Write a short note ol1 lhe conlainerisation fot

lranspon of goods.

{g) Stafe the rnain .feafures of depattmental form of

organisation of public etltetprises.

(h) Dffercntiaie behr,een lrade association and chambeE

of cotnmetce,

ECO'1

SECTION B

Note ' Attempt any three ol the t'ollou]ing.

2. "Partnership form of organisation emerged essentiallybecause of the limitations and lailure of the sol€ trade, Iormof orgaDisaljor. " CorDment. lO

Discuss larious factors which determine the ,rorking capitalrequiremenis of o corhpany. jO

You are the marketing executive of o pharmaceulrcalcompany. Explain the prmedure you lollow when youexport the rnedicines to USA. 10

Wiat is a business risk ? Discuss various types of business

3.

4 .

i . 52+6+2risks and state which of these are insurable.

OR

1 0

1 0

1 0

6.

Briefly explain \,!rious aspects of a leasibilit report.

Why is jt necessary for government to pariicipate directlyin business ? Explain.

What is a public limited company ? Can rt commencebusiness immediittely after its incorporation ? Il not, whatelse has to be done belore it can commence business ?

ECO-1

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ECO-1 P . T . O .

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ECO,1

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ECO-1 8,O00

BACHE!.OR'S DEGBEE PROGBAMME

Term-End Examination

Decernber,2O05

ELECTIVE

ECO-2

Time : 2 hours

COURSE : COMMERCE

: ACCOUNTANCY-I

Moximum Ma*s : 50

Note I Attempt ang fotr questions including question

no. 7 which is cornpstsory.

l. Answet any thr'ee questions of the lollowing , 14

{a) What is JouDai Proper ? What type of t}ansactions

are recorded in it ?

(b) What is Suspens€ Account ? \,Vhat purpose does it

(c) Explain the limitatlons of Single Entry System ofAccounting.

What do you mean by Joini-Ventur€ ? How does it

differ from Partnerslrip ?

Dstinguish behreen Capital Reserve and Revenr.re. Reserve.

(d)

(e)

ECO-2 P.T .O .

2. On 31'r March: 2003, the following Trial Balance was

extracted from the books of Gopal & Co.

Capital

Plant and Machinay

Sales

Purchases

Opening Stock

Discount

Bank Charges

Sundry Debtors

Sundry Creditors

Salaries

Man {actudng Waget

Canias€ Inward

Carriage Outward

Bad d€bts provision

R€nt. Rates and Taxes

Cash in hand

Cash at Bank

Rs.

50,000

1,7?,000

750

800

2s,000

525

2,54,075

to,:o

60,000

1,000

30,000

350

45,000

6,800

10,000

7s01,200

10,000

2.000

900

6,000

2,54,075

ECO-2

Additional Inlormotion :(i) Closins Stock Rs. 35,000.

{il) Depreciation of plant at 6%.

{iii) Bad debts provision to b€ adjust€d to Rs. 500.{iv) Interest on capital to be a oq,ed at bo,6 per annum.

{v) 2 5% ot the profits is to be carried to Reserve Fund.

From ihe above information, prepare Trading and profiiand lrss Account for the y€ar ending 31s March, 2003and the Balance Sh€et as on that date. f2

3. {a) Differentlate between Income & Expenditure Accountand Receipts & Pagments Account.

On 31$ Decernber, 2003, ilre Cash Book of a firmshowed a bank balance of Rs. 41'000. From thefollowing information, prepare a Bank ReconcitiationStatement, showing the bank balance as per passBook. S_7(i) Cheques have been issued for Rs. 3,500, out of

which chequ€s worth Rs. 2,000 only were' ptes€nted {or payment upto 31st Decembef,

2003.

(ii) Cheques worth Rs, 700 were paid into rhe bankon 28b December but had not b€en cr€dit€d bythe bank by 3131 Decembert and one chequetor,Rs. 250 was enLeradl, in Cash Book on30m Decemberi,but w;deposjted in bank on3'd January, 200{'-'

{b)

ECO-2 P . T . O .

lv,

A cheque from MuYall for Rs. 500 was

deposited in the bank on 27rh December' but

was dishonoured and the aduce was receiv€d on

2nd Janua4', 2004.

Pass Book showed bank charges Rs 25 debited

by the bank. It also showed a credit of Rs. 5O0

coll€cted by the bank as interest.

On€ of the debtors directly deposiied a sum ol

Rs. 1,250 in the account ot the firm on

25th December. Intimation in this respect was

received from the bank on 5tb January, 2004'

4. AEvind of Delhi seDt 1000 machine parts to Ravi oI

Ch€nnai on consignmeni basis. The cost of each machine

part was Rs 100' but ii was i 'oiced to Ravi at cost plus

25%. The expenses incurred b9 Atavind were :

Freight Rs 12,000 and Insurance Rs 13'000 During

transii 100 machine parts were destroged and the

Insurance company paid Rs 10'000 towards that claim

Ravi sold 800 machine parts at Rs 150 each and paid

for storage and insurance Rs. 3'000 and Rs 2,000

respectively. Rau also accepted a bitl for Rs 80'000 at

3 months drawn by Aravind which Aravind discointed

immediately with his bank at 6% pa. It was agreed that

Ravi is to get syo commission on sales

Prepare the necessary ledger accounts in the book of the

consi$or (Aravind) Show your workings 12

(iii)

(iv)

4ECO-2

5. On lstJanuary 2000 machinery was purchased by SomuIor Rs. 50,000. On 1.7.200L additiors were made to the€xlent ol fu. 10,000. On 1.4.2002, lurlher addiiions werernade to the e){tent of Rs. 6,400.

On 30.6.2003 m.ichmery, the original \,?lue of which wasRs. 8,000 on 1.1.2000, was sold for Rs. 6,000. Somu€loses his books on 31$ December each year

Depreciation was provided at 70o/a p.a. on the diminishingbalance method.

Prepare the machinery account for the years 2000, 2001,2002 and 2003 in the book of Somu. Also show youfworkings. 12

6. (al Exptain ihe adBntages o{ Self-Balancing Syslem.

(b) Raju drew a bill on Vasr.r lor Rs. 2,000 on lstApril,2O02 lor tt',to monfhs. On May 15 Vasu requestedRaju 1o renew tbe bill lor t"vo months. Raju agreed torenelv ihe bill and charg€d inter€st @ 6,% p-a. A newbill was drawn {or Rs. 2,020 including interesl. Thebill was honoured on the due date. Record a[ th€setEnsactions in the book of Raju and Vasu by passingthe necessary journal eniries. 4+8

ECO-2

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ECO-2 P.T .O .

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ECO-2

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ECO-2 P,T.O.

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ECO-2 1 0

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8,O00ECO-2 1 1

rEdrlBACHELOR'S DEGBEE PROGRAMME

Term-End Examination

Decembet 2OOS

ELECTIVE COURSE : COMMERCE

ECO-3 : MANAGEMENT THEORY

Time : 2 haurs Maximum Marks , 50

Note : Attempt 6ot r S€ctions A ond B.

SECTION A

Attempt any thtee questions.

l. (a) "The essential feafures of management r€veal itsnature and importance. " Discuss.

(b) Explain lhe soc'al responsibiljties ol managemenr. 8+4

2. What is plannins ? E(plain the process of planning in anorganisation. 3+9

3, &plain with examplesstructures whlch can bearr?ngernent o{ activities.

:rarious types otdistinguisbed on

1

organisation

the basis ol

P.T.O.

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P.T.O,

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ECO-3

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5,OOO

BACHELOR'S DEGREE PROGRAMME

Term-End Examinatlon

December, 2OO5

ELECTIVE COURSE : COMMERCE

ECO-4 : AGGOUNTANCY-ll

Time : 3 hours Moximwh Ma*s : 700(Weightage 70Vo)

Note t Attempt ong four questions from Section Aincltrding questton no. 1 whtch ts compulsory andboth the questions Jrcm Sectton B. Gioe :,orkingnotes olso where nec€ssdry,

. SECTION A

l. Afte.]Jipt arry thrce queshors from the tollowing : 5+5+5

{a} Dstingish between 'hirc Wrcbase agreement' and

'instalment payment system'.

(b) Enunerdte the steps invo[,€d in the \raluation ofgoodwill of a firm under 'super profits method'.

{c} How are the branch balaoces incorporated in headoffice book under 'abridged incoporadon' method ?

ECO-4 P.T.O.

{d)

2. la)

State the circumstanc€s under which the firm is also

dissolved alongwith dissolution ot pattnership.

What ar€ the objectives of ratio analysis ?

Mukesh and Company, Dehi ha\,€ a sales branch at

Chennai and lNoiced goods to the branch ai cost_ ^ ^ I

price plus 33i percent. ll is agreed that all .ash

received by the branch is to be paid to the Head office

account with the State Bank of lndia atd the

necessary advice sent to the Head offic€. Frcm th€

following particulars, prepare Branch Account and

Goo(h sent to Branch Account in the Head o{fic€

Iedger showing the actual prolit or loss of the branch

for the year ending Der"t&t 31. 2003.

R..

Stock on 1-1-2003(at inrroic€ pricel

Goods s€nt to branch(at irwoice !,Yice)Debtors on 1-1-2003

Cash sent to Head office

Sales

Rent, rates and taxes

Salaries and wag€s

Mtor3 on 31-12-2003

Goods returned to Head office(at in\,oice price)

Shortag€ ol stock(at ln(,oice price)

12,000

96,000

1,50077,70077,0003,2004,8001,600

16,000

200

ECO-4

{b) Whai is plofit pdor to incorporation ? Explain brtellyits treatmert in accounts.

3. Alfa Dstdbutors sold three vans to Beeta Enterprises onJanuary 1, 2003 on hjre purdrase system. The price ofeach {an was Rs. 90,000, payment of which was to bemade as Bs. 30,000 as down payment and yemaining

amourt in ihree annual equal instalments together withlnteresi @ 15% p.a.

Bgeta Enterpfises were charging depreciation @ 20%

each geat 6) u,ritlen down value method. Aftet payment

ol tlre first iniiiiriibni as dn Eec!mbir-31; 2003, iheg

cottd not pay further jnstallrents. lt was agreed behreenthe parties lor repossession of two vans adiusting their

value against the amount due. For the pwpose ofrepossession! depreciation @ 30% p.a. was charged.

Repossessed goods were repaired at a cost of

Rs. 2,000 and were then sold lor Rs. 92,000. Show tAe

necessary accourts in the books o{ Beeta Enterprises and

R€possessed Goods Account in the books of Alfa

Dtstributors. 16+4

ECo'4 P.r.o.

4. The following is ihe Balarice Sheet of A and B who eharedprofirs in rhe ratio ol 3 : 2 respecrii/el!.

BaLance She€t as on DecGrDber 31, 2OO3

The firm was dissolved on December 31, 2003. A tookover investrnents at an agr€ed 1lalue of Es. 16,000 andagreed to pay off the len of Mrs. A. Stock realisedRs. 10,000; Debtors Rs.37,000i Furniture Rs. 9,000 andMachinery Rs. 50,000. The cr€ditors were paid o{f at a. . , ^ 1 - _ -dlscounl ot Zt%. ts agreed to realise the assets and pay

off the liabilities on a temuneration of Rs. 2,200. Actuaiexpenses ol realisation incurred were Rs. 2,000 and w€redub paid by the firm,

Pr€pare Ralisation account, Paririers' Capital accounls andBank account to close the book o{ the firrn. 20

ECO-4

Uabilities Rs, Rs.StrDdry Cr€ditors

Bills payable

Mrs. A's loan

Rese.v€ fund

Capitals '

A 20,000

B, 16,000

76,000

30,00020,000

10,000

36,000

Cash in Bank

Stock in trdde

Debtors 40,000

Less : Reservefor bad debts 2,000

Machine4r'.

23,000

12,000

38,0008,000

56,00020,00015,000Profit and Loss A,/c

1,72,000 1,72.000

5, (a) Can a ioint stock company issue shares at a

discor.ri ? State the relevant prousions of the

Companies Act.

(b) ABC Ltd. issued 1,50,000 €quity shares of Rs. 10

each at a premium of Rs. 2 per share, payable

Rs. 3 on application, Rs. 5 on. allotrnent (including

premium) and balance in t\uo calls of equal amount.

Applications were received for 2,00,000 shares and

pro-rata allotment was made to all the applicants.

The excess apDtiadtion indney was adjusted towards

a[ottnent. Mr. M who was atlotted 4OO shares failed

to pay the lirst and second call and his shares were

forfeited after the second call.

Pass necessary journal entries in the books of ABC

ECO-4 P.T.O.

6 . From the following Balance Sheets of X Company Ltd.prepare {a) Schedule of Changes in Wdrking Capital and(b) Funds Flqw Statemenr {or the gear 2003.

babilities 31-3,2002Rs.

31-3-2003Rs.

Equity share capital9% Redeemablepref€rence share capitalGeneral R?serveProfit and Loss a,/cProposed dividendSundry CreditorsBills Payable

Liability tor ExpensesPfovision {or Tax

1,50,000

7s,00020,00015.00027,O0013,00010,000

2,00,o00

50.00035,00024,00025,00024,000

. - 8,00018,00025,000

15,00020,000

3,39,000 4,09,000

31-3-2002Rs.

31,3-2003Rs.

GoodwillLand and BuildingPlant

Sundry DeblorsStockBills Receir,ableCash in handCash at bankPrellminary expenses

50,0001,00,000

40,00010,00070.00039,00010,0007,0005,0008,000

40,00085,000

1,00,00015,00085,00055,00015,0005,0004,0005,000

3,39,000 4,09,000

6ECO-4

SECTION B

7. Deline 'Audiling'. E\plain the objects ol auditing. 10

OR

Brieliy state ihe powers and du$es of a company auditor

8. Write short notas on any trrree of ihe lollowing : 5+5+5

{a) Diflerence betueen lnternal Check and Internal Audit

(b) Continuous aLrdit

(c) Audit programme

(d) Auditing and Inv€sbgalion

(e) Dsquali{ications of a company auditor

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ECO-4 1 1 P.T .O .

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ECO-4 P,T.O.

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ECO-4 3.O00

BACHELOR'S DEGREE PROGRAMME

Term-End hamination

December.2OO5

ELECTIVE COURSE : COMMERCE

ECO-s : MERCANTTLE LAW

Tirne : 2 Hours Maximum Morks : 50

Note: Attempt any tio? questions. All quesllons corrualual morks,

l What ls an oller ? What are lhe essentiais of a talidolfer ? Explain brie{I9.

2. Who i5 a minor ? Explain lhe position ol a minor in relationto contracts. 3+7

3. Ahempt any ftro ol the lollowing problems gtving reasonsfor your answerg : 5+5

(a) A lady went to a iwelier, falseb represmting hersellto be the wife of a particular landlord. She took a ringon the preteyt of getting approval of her husband.She pledg€d the ring wjth someone else. Can theieweiler recor,er ttle dng from the pawnee ? gxplain.

P.T.O.

4 .

5 .

{b) Mr X says in con\Tersation with Y that he wiil giveRs. 10,000,/ lo a person whoever rranies hisdaughter. Z marries his daughter and files a suit torecover Rs. 10,000/-. Will he succeed t

(c) B asked a car dealer to suggest him a suitable car fortouring purposes. The dealer suggesied to him to buy"Marufi 800". Accordingly, B purchased the car butfound it unsuitable for towing purposes. Can B reiurnthe car and get back the price ?

What are the circurnstances under which a surety isdischarged from his liability ? E\plain. 10

What is an agency by ratificaiion ? What are the essentialcondidons for a !"alid ratification of agency ? 3+7

a.

6. What is a Common Canier ? Explain the duties of acomrnon carrier 3+7

Define 'condition' in a contract of sale. Explaln brtelly theimplled conditions in a contract of sale. 3+7

Define Partneyship. How would lorj determine whelher agrcup oI persons does or does not congtitute partnershlp ?

4+6

OR

Dislnguish betureen lhe lolJowing ,

{a} Coerdon and Und|l€ influence

(b) Ordinarg darMges and Special damages

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ECO-5 P.T.O.

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6,000

Fm;lBACHELOR'S DEGREE PROGRAMME

Term-End Examination

December.2OO5

ELECTIVE COURSE : COMMERCE

ECO-6 : ECONOMIC THEORY

Time: 2 hours Maximum Marks : 50(Weightoge 70W

Note: The paper contolns three sections A, B and C.lnstructions arc given ln eoch section olong withmdtks

SECTION A

Answer ony two questlons lrom this secfion. 2x15=30

l. (a) Distinguish bet'r€en price elastici9 of demand andincome elasticity of demand.

(b) Describe the point method of measuring elasticity ofdemand.

(c) Explain the importance of the concept of elasticig of

dernand.

ECO-6 P.T.O.

2. (a) What do you mean by indifference curves ?

(b) What are the properties of indifterence curv€s ?

(c) Dslinsuish behreen income consumplion ojrve andprice con$fnption curve,

Explain how the firm reaches equilibrium under perfectcomp€tition in the short nm. What happens when in theshort run the average variable cost ;s greater than theaverage revenue ?

Discuss the marginal productivity theory of distribution. ls itan incomplet€ explanation of the det€rmination of factorprices ?

4.

ECO-6

6.

SECTTON B

Answer ong tuto questiols ftoil this secrion. 2x7=14

5. Scarcity is {he root cause o[ all economic problams.'Dscuss.

\Alhat is plics discrimtnatton ? Under what $ecessaryconditions can price discriminatjon be practiced ?

How do yorj measurg in€qualities in the distrit'ution ofincome ? Is complete equaliry desjrable ?

Explain with the help of a diagyam the l-aw of VariableProtr'ortions.

ECO-6 P.T .O .

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P.T .O .

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P,T.O.

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ECO-6.

BACHELOI'S DEGREE PROGBAMME

Term-End Examination

December,2OO5

ELECTIVE COURSE

ECO-7 : ELEMENTS

: COMMERCE

OF STATISTICS

Mqximum Marks : 50

tNote t Answer any four questions. All questions cotry

equol marks.

1. {a) Frtt in the blanks with the approprlate word given in

the brackets :

(i) Statistics - be misused. (canlcannot)

is done by rounding off the digits,

(Accuracy/Approximation)

(iii) Shanker's -onthly in"o-" is Rs. 1,000. This

- a statistical staternent. (is not/is)

(i0

(iv) always positive.

(Mantissa/Characteristic)

(v) Ayranging the mass data into different groups on

t\e basis of their similadties and reemblances is

called - . (classification,/trabulabon)

ECO-7 P.T.O.

(mean,/standard)

(vii0 - curve is a graphic method ofstudying dispersion. lFreq|J€ncA /tl.I.eI|z)

(b) What are the reasons for distrust in statistics ? Sr4

2- What ls sampling ? Brielly explain the \,"rioue methods of

t o a

{vii) The co-efficient of \rdriation is also known as

co-efficient of - deviation.

samp,mg. zf,+to

3.. The following data relate to the cost of production and totalrevenue of hro firms in a particular month. Represent thedata by a $ritable diagram so that cost and profit per uniiof each firm can be compared. e+

Particulars

Raw material cost (Rs.)

lnbour cost (Rs.)

Overheads (Rs.)

Mtscellaneous (Rs.)

Total cost (Rs.)

Total Revenue (Rs)

Profit (Rs.)

No. of units produced andsold

ECO-7

Firm 'A'

9,0004,000

3,000500

Firm 'B'

5,0002,500

1,500

50016,500

20,000

3,500

1,000

9,50012,500

3,000

500

Special purpos€ tables are _given text. (complemeniary^ndependen$

4. (a) You take a trip which entails travelling 900 kms b9

t/ain, 3000 kms by boat, 4000 kms by plane ard

15 kms by taxi at an average speed of 60 kmph,

25 kmph, 350 knph and 25 kmph, respectively.

Wha( is ik a\€rage sp€ed for the entire digtance ?

(b) The mean marl<s of 100 students i,as found to be

40. Lat€r on, it was discovered thai ihe rnark ol 53

was rnisread as 83. Find the co|aect mean. Bta

5- Frorn the data gir€n below, state {i,hich of the tu/o s€ries ismore variable ? nt

Variables Series'X' Series 'Y'

2 0 - 2 5

2 5 - 3 0

3 0 - 3 5

35-40

40-45

45-50

8

1 2

18

I

6

20

32

30

1 t

0

6. {a)

(b)

Draw the format of a statistical table and lndicate its

Estimate the \elue of arithmetic mean if mode is14005 and median is 139.69. 8!+42

ECO-7 P.T.O.

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ECO-7 P.T.O.

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rvi fuq{q wfs d fu{ira qFrqisq 6€i-t | (qrgt/qrs)

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ffi$T

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9,000

4,000

3,000

500

16,500 9,500

20,000 12,500

3,500 3,000

1,000 500

5,000

2,500

1,500

500

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35-40

40-45

45,50

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18 30

13 t2

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ECO-7 P.T.O.

BACHELOR'S DEGREE PROGRAMME

Term-End Examination

December, 20O5

ELECTIVE COURSE : COMMERCE

ECO-8 ; COMPANY LAW

Time : 2 Hours Maxlftum Morks : 50(Weightage 70Yo)

Note: Answer ony f lu€ quesl ions.

l. (a) What is meant by a company limited by guarantee ?

{b} Enumerate ,our impodatt disfinciions behreen aplblic company and a pnvate company. 4,6

What do 9ou understand by 'Preliminary' conkacts ?

Dscuss the position oI a company in reiation to thepreliminary contracts. )0

"tt is compulsory for every compang to register its Atticles

of Association." Comment and discuss the resficlions on

ihe alteration of Articles of Association. 5, 5

2.

3 ,

ECO-8

OR

P.T.O.

Explain the rule taid doq.n in Royal British Bank !,s.Turquand. Are iher€ any a\ceptions to this rule ? 4,6

4. (a) When can a compaDy issue shar€ wa ani ? What isthe eftect o{ the is$re of share q,arants ?

{b) Dsiinguish between transfer and transmission of

5. Discuss the legal position of directors. 10

6. (a)

(b)

7. (al

{b)

a. la)

(b)

What is tbe purpose ol holding an annual generajrneetiDg ? Whal business is usually transacted ir thismeeting ?

Wrile an explanaiory note on 'Proxies. 6,4

Distnguish behreen member's voluntary winding upand creditor's voluntarg winding trp.

What is a 'Special R€solutio$' ? Enumerate thepurposes which require a sp€cial resolution. 5,5

Explain briefly the procedure for alteraiion of thecapital clause of a company.

Write a note on statement in lieu of Prospectus. 5,5

ECO-8

trir.6, 3Cr& 6r{rF,7

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ECO-8 P.T .O .

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(q) qr$s gltTRur e.n ondka s{+ sr f,r s*qt I qs q,Tr lt qtq; €r qd fss slt t ?

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6 .

E.

ECO-8 5,000

BACHELOR'S DEGREE PROGBAMME

Term-End Examinafion

Decembet, 2OO5

ELECTIVE COURSE : COMMERCE

ECO-9 : MONEY. BANKTNG & F|NANC|ALINSTITUTIONS

TIme : 2 hours M@dmum Morks : 50(Weightage 7Uk)

Note t The paper contoins three sections A, B ol,d C,Necessory Insfructions arc giuen in eoch section.

<

SECTION A

Answer any two questions t'rom fhts secnon.

l. Explain 'specdativg' demand for money and its relatioh withthe mte ot it*erest. 12

2. What is money market ? Explain the strucfure of lndianmoney nrarket. 12

ECO-9 P.T.O.

6.

SECIION B

Ansuer ony turo quatians ltum this secron.

Explain Fisher's Quan$ty Theory of Moneg.

Explain the developmental and the prornotionol functions ofthe Reserve Bank of lndia.

Explain the functions of developmeNal bank.

What arc the main objectives of the international MonetaryFund ?

8

8

8.

ECO-9 P.T.O.

9.

sEcnoN c

Ahswer both questions.

ExpLain brtelly an9 irr:o of the follouing :

{a) Concept ol near moneg

(b) Dstinciion behrreen a central bank andbanls

(c) titnitations ol commercial banks as a source of rutal

credit

{d) Special Drawing Rights (SDRS)

lO. Wrlte short notes ol) any t.ro ol the following :

(a) Eliects ol inllation on production

(b) Open matket op€rations as an instrumenf of credit

(c) Evils o{ mon€ry

(d) Capital marhet

ECO-9

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z. gfi srqR i et ars4 e 2 t{r.,ftq gdr srvn d{r+* d qlqr dRq r 12

ECO,9 P.T.O.

6.

a.

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ECO-9 P.r.o.

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ro. ffitun q i ffif Ei q{ {Rrq ffif lctuS :

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ECO-9 5,000

BACHELOR'S DEGREE PROGRAMME

Term-End Examination

December, 2OO5

ELECTIVE COURSE : COMMERCE

ECO-IO : ELEMENTS OF COSTING

Time : 2 hours Maximum Morks . 50(Weishtoge 70Yo)

Note t Attempt ony h.o questions Jrom Sectibn A andany 'rto questions Jrcm Section B.

SECTION A

l. What do you mean by cenhalised and decentralisedpurchasing sgstems ? Mich system will you recommend for

a large manufacturing organisation and why ? 10

2. (a) Explain th€ accounting treatrnent of Nofmal l-oss andAbnormal Loss in piocess costing.

financial

5 , 5

P.T.O.

(b) Differentiate bet\ reen cost accormting.and

ECO-10

SECTION B

4. (a) The production department of a factory furnishes thefollowing information lor the month of May 2005.

Particuiars

Materials used

Direct wages

Overheads

l-abou hours worhed

Machine hours worked

Materials used

Direct wages

Labour hours worked

Machin€ hours worked

Rs. Horrs

1,08,000

90,000

72,000

For an order executed by the department dunns MaV2005, the relevant data is as follows :

Particulars Rs. Hours

30,000

25,000

12,000

6,400

2,500

2,100

Compute the overheads chargeable to the job by :G) DA€ct matertal cost method, (ii) Direct laDour cosrm€thod (iii) l-abour hour rate, and (iv) Machme nour

ECO-10 P.T.O,

(b) From the followtng partrculars, prepare a cost sheet:

Rs.

Prime cost

Factory overheads

Closing stock :

Finiahed soods (2000 '.mi9

Work in progress

Opening stock :

Finished goods (1000 unitsl

Work in progress

Administrative expens€s

Sale of linished goods

Seiling expenses @ Re. 1'00 per utit.16,000 units were produced dulng the pedod S' 7

5. Contracts Ltd., commenced its business on 1$ January,

2004. Ih" foilo*tttg lnf,crmation has b@l extracted horn

Its bool.,s in relation to a contract.Rs.

C.ash received from contractee

terial hom stores

Direct materials purchased

Dbect labow

Expens€s at site

Ma€hinery (at cosD

Fuel and power

2,19,200

48,000

32,000

20,000

15,000

4,800

4,000

2,99,000

1,20,0003,000

47,00045,000

2,00030,0002,500

ECO-10

The contract price was Rs. 3,00,000 and the work certiliedRs. 1,50,000. The cost of work done but tmcertified wasRs. 10,000. Ma.hinery costing Rs 2,000 was returned tostores at th€ end of the War. Of the materials charged tothe contraci, materials which cost Rs. 2,000 wer€ lost.Stock of mat€rials at dte on 31-12-2004 was worthRs. 3,000. Depteciation on plant r4/as to be charged at10% per annum. You are required to show what p{o{it orIoss wor.rld be taken into the account for the year ended31--12-2004 and show how the work-in-progress willappear in th€ Balance Sheet as on 31,12-2004. 15

6. (a) Dffer€ntiate behre€n Job costing and proc€ss costing.

{b) From the lollowing information, stat€ the value ofClosing stock at the end of May 20O5 iI issres arepriced by the (a) weighted awrage method, and (b)LIFO method.

Al the beginning of May 2005. the company had instock 10,000 uniis lblued at Rs. 10 per unit.Pr.rchases and is$Es were made during the monthas follows :Purchases :

7th May 4,000 units @ Rs. 12.50

14in May 6,000 units @ Rs. 15.00

24s May 8,000 units @ Rs. 16.50Issu€s :

16s May 16,000 units

28$ May 10,000 untts

ECO-10

5, 10

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uain wfr6rtqq{, zoos

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l .

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goii i5

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- 2 .

ECO-10 P.T.O.

Erug q

4. (3T) q{ 2005 + frq qq i€S + smcq fqlTrrr ifhafofi*o q*+ sc-{r*r fid r

kflur €. Ea

1,08,000

90,000

72,000

30,000

25,000

q$, zoos * st{rc ft"{rq } i go +fidr +r +r+T{r f6qr rs+ {idFrd eisS ftqftfud t .

12,000

6,400

2,500

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sqftqq

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fq-4{qt

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IesT c-f$

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ECO-10 P . T . O .

ffi t qq eprc f*qiq ?qn

o.

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{tr-t aq qrqr

2,19,200

48,000

32,00020,000

15,0004,8004,000

2,99,0O0

fr*q qq r.oo t.fi Eor{ d < i e$ ge tqs qqfr t gffi 16,000 {*rqii qr s'qrfi€:r

'| 8' 7

s. ,i-# fr. i r q+sQ, zooa d qrqn EF fuql I

s. :+ * eq*i t s+fr SKdi i irefdfu( ehTflRr g3{ |

1,20,000

3,00047,00045,0002,000

30,0002,500

ECO-10 1 0

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1q; frqfrfud {r+r * frt qrR-cr eisa r<fr cqr1i1 srfu+ enma q6d f#qr urot qqfr *eI{qR q{, zoos * :r< i 3rFnq €is sr{ g T n d F s trr{ zoos S nRE{ it 6rcfi * qrs d+ d qHfid to,ooo *tad q1 ifisr {iq ro t. cft {6den I E4 aqr f{4q" {i + etm Aqp"6" q .

z q{ 4,ooo {+rq4 12.s0 d. cfr F{r{14 rr$ 6,000 g*6+' rs.oo o. rfr r*r.$24 d s,ooo t6Ed 16.50 r. cfr Fsr$

tuiqq.16 c'i 16,000 {fiqqizs q{ ro,ooo {6r{qi s,lo

ECO.10 1 1 5,O00

BACHELOR'S DEGREE PROGRAIVI\'E

Term-End Examinatlon

December.2OO5

ELECTIVE COURSE

ECO-11 : EI-EMENTS

Time : 2 hours

: COMMERCE

OF INCOME TAX

Moximum Morks : 50(tAleightoge 7@/o)

Nole: Attempt ony tour questions includlng Q. No. l,rrhich ls comp{lsory.

1. Mr. Gupta has the {ollowing income durlng the previous year

2002 - 03 :

{i) Salary: Rs. 1,10,000

(ii) Dearness Allowance (formlng part of sahry forr"tir€menr ben€lits) . Rs. 12.000

(iii) Medical Allowance , Rs. 6,000

(iv) Education Allou,ance llor three c);ldreri: Rs. 5,200

{v) B€nt free house in DeJhi for which hG employer paidRs. 5,000 as rent per month. The house is equippedwlth rented fumiture. The rent of lurniture is Rs. 300p.m.

I

Ii

ECO-11 P.T.O.

(vr) The employer spent Rs. 2,500 on his r€freshet

(!t0 The employer paid hls tel€phone bills o{ Rs. 2,200.

{vtii) He paid a profeesional tax of Rs. 1,200.

(ix) He earned banh interest of Rs. 6,000 and divtdend ofRs. 2.000 on ITC shares.

Compute his taxable income for the assessment year2903 -

91r 14

2. (a) Ananthao ov,,ns a house in Delhi. From the particularsgiven below compute his taxable incorne from houseprope8r for the ass€ssmeni yeat 2003 - 04.

Rs.2,00,0002,52,0002,40,0002,76,4O0

Municlpal taxes paid 20% of the mtrnicipal valueExpenditure on ref,airslrlsurdnce premilun paid

Ananthan had borrowed a srm of Rs. 10,00,000@ 12 per annum on 1-7-2002 and the construcflonwas completed on 28-2-2002.

Municipal Value

Fair Rent

Standard Rent

Achral Rent

20,0005,000

ECO-l 1

Define agricuhlral income. State whether theIollowing ,hall be treated as agricultural incom€ or notfor income tax purposes :

(i) Income {rom growing flowers

(ii) Income from poulty farming

(ii0 Inco$e frorn brick mahng

(iv) Compensation received from ar .-m$rmnce

company on account of damalia ciuS€d to crops. 6 , 6

Canesh sold a residenrial nouse on 2&G2}OZ forRs. 10,00,000. He had purchased this nouse on1-tG1985 for Rs. I.20,000 and had spent on itsimpro\rement Rs. 80,000 during the year 1986 - 87.

He purchased a new house on 27:1.0-2002 forRs. 3,00,000. Compute his capital gain for theassassment yeay 2003 - 04. The relevant cost olliving index is given below r

2002 - 03 - 447

1986 - 87 = 140

1985-86 = 133

{b) What do you mean bg dividends as per income tax lawin India and state how far is it taxable ? 6,6

4. (a) What does 'set off of loss€s'mean ? Can all gpes oflosses from one source be sei off against the incomefrom another source under the same head of

_ income ? I{ not, what are th€ €xceptiong ?

{b}

3. (a)

ECO-l I P . T . O .

{b) Explain the rules relating to taxation ol winnings from

lotteries, card garnes, etc. 6,6

Cofid.]lre ta\a}i,e lncorne flom itlerest on secudti€sfrom the fo owing data:

(i) 8% tax hee Relief Bonds of Resewe Bank of

5. {a)

lndia Rs- 1,00,000.

8% iax hee Railway Bonds of Rs. 1,20,000.

16% Bonds o{ Indushial Dewlopment Bank ofIndia of Rs. 2,00,000.

14% Deb€ntures of ABC Ltd. listed onAhmedabad Stock Exchange purchased atRs. 96 (Face l'alue Rs. 100t for Rs. 96,000.

Int€rest recerved from debentures issued byX Ltd. listed on stock exchange, Rs. 29,535.

lnterest receiv€d lrom debentur€s issued byY Ltd. not listed on any stock exchange,Rs. 18,960.

Rate of TDS rvas 105% in c?se of lided s€cwitiesand 21% for nonlisted s€curitles.

(b) When is an individual said to be resi&nt but noiordinaty resident in lndia ? What is the scope of totalincome in his case ? 6,6

(it,

(ii,)

(M

M

(u)

ECO-1 1

6. Write short notes on any tDree ol the followlng , 4, 4, 4

(a) Rebate to senior citi2ens under Sectton 88.B

(b) Deduction alawed under Secticn 80E in respect ofrcpefnent of loan taker for hjgher education

{c) Taxation of l€ave encashment

(d) Deduction allowed undet Section 80 D in resp€ct olmedical insurance premia

{e) Sefi-asse$sment

ECO-11

HtFs' 3C& 6,r{'5.C'

veic qfrelr

Gqqr, zoos

Qfua vrqwe : e[&rs[{.d.S.-rr ,:nrco-r * Xn n-e

€44 : Z qd etfuadc ai6 : so(gn +r zou"1

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q?rq ql qFI €) j 12.000 t.

liit frftNr qir : 6,000 F.trt fuw qn (dtq cEii + fd\) : s,zoo F.(vl trdil + Ft{?r {ffi ft-drq ffi ftq ffisr

s,ooo r. cft qrs-fs{ra td, t r qor+ i BnstR frqr rrcr q-.iiq{ q1 f<T +, esqr qrfu6f*rm soo r. i r

ECO-1 1 P . T . O .

,.. r.-l- .1. -"--\ --:'- -(vj) I{qffrf { 3*F 9dl€I{-qf€fiC (refresher course)s{ 2,500 {. qq ftq t

, ,,. r l 5 -.---! 53-:- cl(vii) r-Rrri5r c d{t(h efrIs|{ I4sfi EI TrtilFI tdql :2,200 {.

{viii) tssi 1,200 d. iY[ 6{ sr lrtdr4 fuql I(Dd ssifi +6 q|s i 6,000 d. dqr nc tcii c{

frtr*e S z,ooo r. d Brc g{ |+.{ f4"{i@i s{ zo0s-04 * ldq ssdr s{-+'q 3rqqi 'FEr dtqs | )4

2- (T) :*qqq t<Ed fr C6 q+rq sr qrio-6 i rfrqfufu* dt * :mR q{

"qqfi 6{ frqi{"r sS

2oo3 - 04 * f€q r$|r qqft + g{ or-*.< :naql 44cr dfcS '

u4'Rc|ft|s TglStqsFdd fu{qlqn6 16{rqr

TrRqrft-{r 6{, +Rqtfu6r Tgisq sr 20% ?rRmr TlirFr $'q rpnq{qd q{ qq 20,000

dqr *fuqq or Trdr+I

5,000edEa | 1,7-2002 * rzx qft s{ qM cr10,00,000 {. 3sR tdS + sk q-qrq 6r fflr28-2-2002 !* Y[ €3n I

2,00,000

2,52,O0O

2,40,000

2,76,000

ECO-11

(s) fi 3rFr qi qfufiw dfuq r W ffiEq bftqftfun arq unar fu Tfr sTrq qrfi srq,iq r r f r '(4 T(1 3{r} i t} qd erq(ri) tffvroq t crw fiq(iii) ft q{ri + gd :qtq(u $cr drc-fr^t^6siii d gi Erft dt ffi

s 6c q t{fi {flTt 6.6

s. (4) 2s-6-2002 d .ri{ i S+ M qqrq10.00,000 q. it tqr r Esi T6 rFEFr 1-lo-1985d r,zo,ooo t. t si-cr qr q"n gqi rgeo-azs$ i ss+ gfi q{ 8o,ooo {. qq fuq t Izt-to-zoozdl ssi e,oo,ooo {. ii qq rcr116r+ €t-< frqr | 2oo3 04 6{ fiflt{ur sS +ftS ss} {-$-,ri aH d rrurqr dftq r cqqfrsi6 €d qrsis fiTqfEfufr t

2002-03 = 4471986 - 87 = 1401985- 86 = r33

(q) '{F#q 3{r+6 dra+ * qada fsfd-s t €rdffi4 t ? qE f+iqr ql-*'q t ? 6, 6

4. (:q) drFrdi d qft t er nrd{ t ? qr q!; *{f g'$ aq f6R d dRii d sS rN6 +3r<'id g"{ arq *it d eilq i Tn ftqr qre+ar t ? ql? €, ii' is trqq * 3r{qr( Frt r !

ECO-11 P.T.O.

(s) dzfr, dRr erG * d< n g$ BrIq c{ st{q$ f{q,ii +1 qrqt dfeq | 6,6

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5s-RSs dFs I(i0 1,20,000 {. * s% 6{ {tr ld+ sfFc I

{iiil 2.00.000 €. + qrfiq o+dFrq f{6lc +6* 16% ertrs I

{id q.fr.fi. fr. * t+",6 EUrc' + 96 {. {hElvlcd (qq{is 100 r. nft Eqcr) +Fusn t s;,ooo r. ti qtt i r i3f,{TqRE €i{ !#iq t qit6 g '

(v) €i6 q#iq ci {kqd q* fr. eRrt+i&-d E rcii s{ 29.535 [. qrc qi Fdqd{ r R r x m g { r

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q|dl ? tR q& 41 Fe eirq 61 *d (6{ qR)+iI E /

E C O - 1 1 1 0

6 , 6

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E C O - 1 1 5,000

BACHELOR'S DEGREE PROGBAMME

Term-End Examlnation

December, 2OO5

ELECTIVE COURSE : COMMERCE

ECO-12 | ELEMENTS OF AUDITING

Time : 2 hours Maximum Morks : 50(Weightage 70qd

Note : Attempt ang fioe guestions. AII questtons carryequol morks,

Define auditing. What are its secondary objecti\€s ? 4+6

What are the objectives of internal check ? Explain the

position of auditor with regaid to internal check. 5+5

Define audit working papers. Discuss the significance of

audit working papers. 4+6

Differentiate bet een vouching and verilication. What are

the duties of auditor with regard to laluation of assets ? 4+6

L

2.

3.

4.

ECO-12 P.T .O .

5, What are the provisions ol the Companies Act with regardto appointment, reappointment and remolal of companyauditor ? 3+3+4

How would you audit 5+5

{a) Shares issred for corsjderation ofher than cash, and

h) Issue of bonus shares ?

(a) D€fine cost audit.

(b) What are the limitations of management audit ? 5+5

Define auditor's rgport. Distinguish betreen a report and aa.cerlificate.

9. Write short notes on I

(a) Internal audit

(b) Qualities of an auditor

ECO-12

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ECO-12 5,000

BACHELOR'S DEGBEE PROGBAMME

Term-End Examination

December.2OOS

ELECTIVE COURSE

ECO-t3: BUSINESS

Time : 2 hours

: COMMEBGE

ENVIRONMENT

Maxlmum Marks : 50

(Weightoge 70o/ol

Note I Attempt ony lour questions includlng quesiion

no. 1 uhtch i$ cornputsory.

1. Aitempt any tout of the lollowing questions :

(a) Explain ihe relevance of ecological issr.res to business

eD\rtonmeni.

{b) Arnlyse tbe social tesponsibility ol business towatds

(c) State ihe basic objeclires o, regulating business.

(d) Describ€ tfi€ basic instrum€nls ol fiscal policy in lndia

ECO- r 3 P . T . O .

2.

(e) Stat€ various measurcs for the preventiln andsettlement of the industrial disputes.

(l Explain the thrusi areas of the new economic policy.

Discuss how does the environment acts as a stimulant tobusiness. Analyse why business often does little tor physicalenvironment pres€rvation despite ihe fact that it issignllicant for blsiness activity. E, s

Analys€ the fourfold role of lhe government in business.AIso explain in what respects the role ol go\€ynrneni hasbeen fed€fined in lndja during the 1990s. S, s

"The Industrial Policy of 1991 makes a clear departurefrom ihe Indusbht Polica of 1956." Comment. 10

Discuss the t"arious forms of foreign capital llows. Do youthink entering o{ MNCS in less developed countries lsrisky ? S, s

Describe the recent export promotion measures of theGor,ernment of India. 10

3.

4.

6.

7. Write shofi notes on any ftr)o ol the follow:ng : S, s

(a) Poiitical and legal en!'ironrnent of business(b) l.lehru - Mahalanobis strategy ol development(c) Financial reforms in India

(d) Merits ol gtobatisation from the point of view otlndis s economic developrneni

ECO-13

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E C O - 1 3 5,000

BACHELOR'S DEGREE PROGRAMME

Term-End Exarnination.

December, 20O5

ELECTIVE COURSE : COMMERCE

ECO-14 : ACCOUNTANCY-||

Time : 2 hours Moximun Marks , 50

Note t Attempt any Iour questions including quesfionno. I which is co'I'pulsory.

-

l. Atiempt any three of the fo owing questions | 14

(a) Why are Departrnental Accounts considerednecessary ?

(b) Dislingush berween Hire Purchase System ondInstalment Payment System.

{c) Explain briefly ihe meihods of mainiaining capitataccounts ol partners in a partnerchip firm.

(d) State the rules for redempiion of prelerence sharecapjlal.

{e) State the uselulness ot linancial statements.

ECO 14 P . T . O ,

2. Chandigarh Head office of a company.sends goods to its

Delhi branch at cost plus 25%. Branch sends cash daily to '

Head oflice. All expelses ol branch ate paid by Head

office. From the fotlowirE particularc, prepate Branch

Account in the bookg of Head office. 12

Rs.

Stock at brarrch ot 1-1-2004 at invoic€ price

Debtors at bEnch on 1-I-2004

Petty cash'balance in branch on 1-1-2004

Branch {wnihrre on 1'1-2004

Goods s€nt to branch at invoice price

Goods returned by branch at involce price

Cash sent to b6nch tor

Salaries @ Rs. 2,000 p.m.

Rent @ Rs. 1,500 p.m.

Petty exp€nses

25,600

12,800

2,O00

19,200

95,000

5,000

24,000

18,000

900 42,900

Cash sales at btanch 45,000

Cash collected from debton of branch 75.000

Credit sales by branch 85'000

Bad debts 500

Cash Discount allowed to debtors 800

Petty cash batanc€ in branch on 37'12-2004 2,000

Stock at branch on 37'12'2O04(invoi@ ptice)

Depreciate furnlture @ 10% p.a.

35,000

ECO-14

3. A machinery is sold on Hire pulchas€. -fhe terms of

payment are tour annual jnstalments of Rs. 6,000 at iheend of each year commencjng from ihe dat€ of agr€emeni.lnterest is charged @ 20% p.a. and is included in the annualpayments oI Rs. 6.000 each. piepare Machinery Accountand Hire Vendor Account in the books of the Hirepurchaser who defaulied in the payment of the thiyd yearlyinstalment whereupon the Hire vendor r€possessed themachinery. The Hire purchas€r provides oepreciaiion @10% p.a. on diminishing balance method. All workingsshould lorm part of your answer u

(a) A and B are partners sharing profits and tosses in the' ratio oI4: 3. They admit C as partner who brings inRs. 15,000 as his capital and the rcqureo amountof premium in cash. The goodwill of rhe lirm islalued at Rs. 28,000. The new prolii sharing rdtio is3 : 2 : 1. Pass the necessary journal ertrnes.

(b) X, Y and Z are partners sharing p/otits and lossesas to 2 | 2 : 1. Th€ Batance She€t on 31_12-2004 is

Liabilities Rs. KS-

Creditors 2,000Capitals :

x 5,000

Y 2,000

z 1,000 8,00010,000

Fumiture 5,000Stock 2,OOODebtors 1,300L,ess Bad Debts.provision 300 1.000 |

ILash 2.000 I1o.poo1

E C O - 1 4P . T . O .

They decided to dissolve the {irm and the following

amounts realised I

Furni lure Rs.4,500' Stock Rs 2260: Deblors

Bs 90O. Creditors paid on compleie discharge

Rs 1,900; Exp€nses of realisation Rs 60'

Show the necessary accounts in the ledger of the

lirm 4+8

5. Z Ltd issued 10,000 equitv shar€s o[ Rs' l0 each aL a

premium of Rs. 2 per sharc payable - Rs 2 on

application, Rs 4 (including premium) o$ allotrnent' Rs 3

on lirst call and remaining on second call Applicatibns for

11,000 shares were rcceived All applications were

entertained and exc€ss applicaiion money rcceiv€d was

adjustod on afiotrnent On first call atl shatehotdeYs paid

their du€s except one having 200 shar€s irom whom

nothing other than applicati'on money was received and in

respect of another holder of 100 shaves who could not pav

the cal money. Directors forfeited these shares and reissued

for Rs. 2,400 in cash.

Show necessary journal eniries in the books of the

comPdny 12

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E C O - 1 4

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ECO-14

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