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Thursday, December 1, 2022

IGNOU ECO-02 Exam Most Questions || ignou bca eco-02 study materials

IGNOU students ECO-02 Exam Most Questions  Free For 2022-23 Session: If you were searching for the IGNOU ECO-02 Exam all Most Questions  free for 2022-23 Session then finally you are at right place as IGNOU ECO-02 Exam Most Questions for free 2018-19 is now available IGNOU ECO-02 Exam Most Questions   PDF files from here.

IGNOU ECO-02 Exam Most Questions  Free For 2022-23 Session

Students may easily know eco-02 about their Assignment Topics by clicking on the official link of IGNOU. All-important eco-02 links will be shared on the web Panel. 

IGNOU ECO-02 Exam Most Questions

(1). Capital + other liabilities = Total Assets. Explain this Accounting equation with examples.

(2).Write a clear note on Cash concept Vs Accrual concept of accounting.Prepare a three column Cash Book from the
(3)following transaction :
Date Transaction Amount 2012 Rs.
Jan. 1 Opening Cash Balance, 5000
Balance with Bank 30,000
Jan. 2 Borrowing from SBI 50,000
Jan. 5 Cash purchases from Ram 10,000
Jan. 5 Credit purchases 8500
Jan. 10 Cash Sales 12,000
Jan. 15 Deposit in Bank 9000
Jan. 18 Issued cheque to Ram 8000
Jan. 20 Bad debt recovered 5000
Jan. 22 Received cash from A 750
Jan. 25 Withdrawal from Bank for 4500
business purpose Jan. 26 Withdrew cash for personal 2000 use.....
Jan. 27 Received cheque from Sham 5000 and deposited in bank
Jan. 28 Paid monthly Rent by cheque 3000
Jan. 29 Received cash from Soni, 2910 3000
in full settle of
Jan. 30 Paid to Ram Rs. 1950 in full 2000 settlement of his account of
Jan. 30 Issue salary cheque 4500
Jan. 30 Paid Installment of loan by 5500 cheque

(4). State the entries that are usually passed for  recording transactions in consignor's and
consignee's books

(5). What is an Accommodation Bill of Exchange ?
Explain with an example.
On 1st Jan. 2012, X draws a bill amounting
to Rs. 12000 for 3 months, on Y for mutual benefit.
Y accepts the bill and return to X who discounted
the same with his banker @ 12% per annum and
remitted half of the proceeds to Y. On due date X
sends the requisite amount to Y who met the bill
on maturity.
Pass the necessary entries in the books of X and Y.

(6). Write short notes on the any two of the following :
(a) Accrued Income
(b) Capital Expenditure
(c) Bank Reconciliation Statement
(d) Contingent Liabilities

(8)Receipts and payment Account of a sports club showed that Rs 50,000 were received
by way of subscription for the year ended 31.12.2010. The additional information was
as follows :

(i) Subscription outstanding on 31.12.2009 were Rs. 5000.
(ii) Subscription received in advance on 31.12.2009 were Rs. 3000.
(iii) Subscription outstanding on 31.12.2010 were Rs. 10,000.
(iv) Subscription received in advance on 31.12.2010 were Rs. 6,000. Show how above information would appear in the final accounts for the year ended 31st December 2010 of Sports Club.

(9). What is Business Entity Concept ? Explain its accounting implications with examples

(10). What is Bank Reconciliation Statement ? State any five causes that lead to disagreement in the balances of cash book and pass book

(11). What is a Joint Venture ? Explain the essentials features of a joint venture

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