Get Gauhati University BCom 2nd Sem Corporate Accounting Important Questions for the Upcoming Examination. We understand the importance of preparation, which is why we have prepared and provided a comprehensive list of important questions specifically for your exam. These questions cover various units and topics, ensuring that you’re well-equipped to tackle any challenge that comes your way.
Gauhati University Corporate Accounting Important Questions for Upcoming Exam
UNIT – 1 FINAL ACCOUNT OF COMPANIES
Answer the following Questions: Short type/Long Type
1. Which Section of the companies Act gives the format and content of the Balance Sheet and Statement of PL?
2. What are the Financial Statements as per Sec 2(40) of the Companies Act, 2013?
3. Give the meaning of financial statements. What are the financial statements/ Constituent of financial statements?
4. Mention four objectives of preparing a financial statement.
5. What is a Statement of Profit & Loss? Write its four objectives and four features.
6. Give the meaning of Cash flow statement and Fund Flow Statement.
7. What are the General Instructions for Preparation of Company Financial Statements?
8. Mention the General Instructions for Preparation of Statement of Profit and Loss.
9. Explain the meaning of (a) Current Assets, (b) Current Liabilities and (c) Working Capital (d) Non- Current Assets.
10. Define preliminary expense with examples
11. Write a brief note on Corporate Dividend Tax.
12. What is interim dividend?
13. Discuss the various issues relating to declaration and payment of dividend by a company?
14. How would you deal with the following items while preparing the final accounts of a company registered under companies Act?
(i) Unclaimed dividend, (ii) TDS on interest received from investment in debenture of other companies (iii) Preliminary expenses (iv) Proposed dividend Managerial remuneration. (v) Directors fees
15. Write a short note on “Tax deducted at source”.
16. What is Provision for Tax? Write its Accounting treatment.
17. Name any three items that can be shown under the sub-heads “Reserve & Surplus”.
18. Name any two items of Current Assets.
16. What is Provision for Tax? Write its Accounting treatment.
17. Name any three items that can be shown under the sub-heads “Reserve & Surplus”.
18. Name any two items of Current Assets.
19. Name any two items of current liabilities.
20. Name any two items of non-current liabilities.
21. Name any two items of non-current asset.
22. Give the major heads under which the items appearing on Equity & Liabilities side of Company’s Balance Sheet.
23. Give any three items that can be shown under the headings of “Reserve & Surplus” in a company’s Balance Sheet.
24. List the sub-headings that can be shown under the headings current liabilities as per schedule III part I of the Companies Act.
25. List the sub-headings that can be shown under the headings current assets as per schedule III part I of the Companies Act.
26. Name the major sub headings of non-current assets.
27. Name the major sub-headings of non-current liabilities.
28. What are Contingent Liabilities? Mention two items of contingent liabilities?
29. Under what headings the following items are shown?; Goodwill, Loose tools.
30. How will you show the followings items in the balance sheet of a company?
UNIT – II (INCENTIVE EQUITY, BUY BACK, AND VALUATION OF SHARES AND GOODWILL)
RIGHT ISSUE
Answer the following questions:
1. What is meant by right issue of Right shares?
2. What is meant by value of right?
3. What are the options on receiving an offer for rights issue?
4. What is right issue?
5. State the relevant provisions of the Companies Act regarding Right share?
Or
Explain the provisions of Sec 62 of Companies Act, regarding Right issue 2013.
6. How is value of right share calculated?
7. Differences between right issue and public issue.
BONUS SHARE
1. What is bonus issue? Write its effects?
2. What are the objectives, advantages and disadvantages of Issuing of Bonus Shares?
3. What are the conditions for issuing Bonus Share?
4. State the guidelines issued by SEBI for issue of Bonus Share.
5. What are the sources from Bonus shares are issued? Or Write about the sources of fund to be used for bonus issue?
6. Write the steps for issuing Bonus Shares?
7. Differences between bonus and right.
BUY BACK OF SHARE
1. What is buy Back of Share? What are the conditions for Share Buyback as per Companies Act, 2013.
2. Write the Accounting Entries for Buy back of shares.
VALUATION OF SHARES
1. What do you mean by the term “share” and valuation of shares?
2. Explain briefly: Par value of share, Quoted value of share, Market value of share. (Types of share value)
3. Why is valuation of shares necessary/needs of valuation of shares?
4. What are the factors which effect valuation of shares?
5. What are the methods of valuation of equity shares?
6. Write the merits, demerits and applicability of net asset method of valuation of shares.
7. Explain the procedure of valuation of preference shares.
8. Explain the procedure for determining the intrinsic value of shares?
VALUATION OF GOODWILL
1. What is commercial goodwill? “or” Explain the term goodwill.
2. Mention four characteristic of goodwill.
3. State the factors that lead to the creation of goodwill in a business concern.
4. What are the needs/circumstances for the valuation of goodwill?
5. What are the methods of valuation of goodwill?
6. Explain annual average profit method. [imp]
7. What is super profit? What are the steps to be followed for valuation of super profit? [imp]
8. Explain the capitalization method of valuation of goodwill.
9. Why “Goodwill” is considered an “Intangible Assets” but not a “Fictitious Asset”?
UNIT III: Internal Reconstruction of Companies
Short and Long Answer Type Questions:
1. What do you mean by reconstruction of company? What are its types?
Or
What do you mean by Internal and External reconstruction of companies?
2. Why do companies opt for internal reconstruction?
Or
Why do we resort to internal reconstruction of a company?
3. What are the methods of internal reconstruction? Explain them.
4. Discuss in brief the provision related to Capital Reduction of a company as the Companies Act, 2013.
5. What are conditions for effecting a reduction? List its methods and procedure?
6. Write a short note on Reorganisation through surrender of shares. Also give the accounting entries.
7. What are the differences between Internal and External Reconstruction?
UNIT-IV: AMALGAMATION OF COMPANIES
Short and Long Type Questions
1. What do you mean by ‘amalgamation’?
2. Name the two types of amalgamation.
3. What is Business Combination?
4. What is meant by a ‘transferor company’?
5. Define a ‘transferee company’.
6. Explain the term “absorption”.
7. Define the term “acquisition”.
8. Explain the term “Purchase Consideration”
9. What are the main features of Absorption?
10. Write short notes on: Purchase of Business:
11. How is goodwill or capital reserve determined in case of a business purchase?
12. What are the conditions which according to AS-14 on ‘Accounting for Amalgamation’ must be satisfied for an amalgamatio. in the nature of merger?
13. Explain the concept of synergy. What are the objectives of amalgamation?
14. How the purchase consideration is calculated in the case of amalgamation in the nature of merger?
15. What are the factors which may be considered in estimating the useful life of goodwill arising on amalgamation?
16. What are the different methods for determining the purchase consideration?
17. How is the purchase consideration determined in the case of amalgamation in the nature of purchase?
18. When should the purchase method be used in amalgamation? What are its salient features?
19. What are the difference between (a) Pooling of Interest Method and Purchase Method
(b)Amalgamation in the nature of merger and Amalgamation in the nature of purchase.
UNIT-V: ACCOUNTS OF HOLDING COMPANY
Short and Long Questions
1. Define the terms ‘holding companies’ and ‘subsidiary company’.
2. What is minority interest?
3. What is the Cost of Control?
Or
What is the Goodwill or Cost of Control /Capital Reserve answer valid only for this chapter?
4. What is pre-acquisition and post-acquisition profit?
5. What are Contingent Liabilities? Mention some items of contingent.
6. What is revenue profit?
7. What are the consolidated financial statements and their contents?
8. What are consolidated Balance Sheet and Profit and Loss Statement?
9. Mention any two limitations of consolidated financial statement.
10. What are the advantages of consolidation of financial statement?
11. What is meant by mutual owing between the holding company and the subsidiary company? How are they treated while preparing the consolidated balance sheet?
12. Write a brief note on types of holding company and subsidiaries.
13. What are the needs and objectives of Consolidated Financial Statements?
14.Is Preparation of Consolidated Financial Statements Compulsory in India?
15. Write a brief summary of Accounting Standard-21.
16. What is a Group of Companies? What is its Real status?
17. What are the Advantages and disadvantages of a Holding Company?
-00000-
Last Words
These questions are meticulously prepared and align with the NEP FYUGP Pattern, ensuring that you’re well-prepared to excel in your exams. Remember, practice makes perfect, so don’t hesitate to tackle these questions head-on and reinforce your understanding of corporate accounting concepts.Wishing you the very best for your exams!
