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MGT401 - Financial Accounting II-Current-Midterm-Subjective-Paper-2011

MGT401 - Financial Accounting II-Current-Midterm-Subjective-Paper-2011


Shared by Husnain Sadiq

Total question = 32

Mcq’z = 28

2 question (3 marks each)

2 question (5 marks each)

 

Subjective questions.

3 marks each

1) Numerical: Calculation of value of stock using LIFO method

2) What do you know about financial liabilities?

5 marks each

 1) Differentiate between FIFO & LIFO method. (5 marks)

 2) Define long term liabilities. Which heads included in long term liabilities.

Shared by Sehrish Rao

1  Briefly discuss (5)

              Historical cost

               Current cost

              Realizable value

2        Write down the component of financial statement with respect to the IASB FRAMEWORK..(3)

    If balance janurary (1, 2008)        100 units,9 Rs per unit

Jan 1          received                      100 units,8 Rs per unit

Jan 3         issued                               100 units  

Then calculate the value of inventories of January 3,2008 using weighted average method.(5)

 

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You are here: Home Old Papers MGT401 - Financial Accounting II Papers MGT401 - Financial Accounting II-Current-Midterm-Subjective-Paper-2011