Bachelor’s Degree Programme – BDP Solved Assignments for July 2017 and January 2018 Admission Cycles
BDP Tutor Marked Solved Assignment
Course Code : ECO – 02
Course Title : Accountancy – I
Assignment Code : ECO-02/TMA/2017-18
Coverage : All Blocks
Elective Course in Commerce
ECO – 02: Accountancy – I Solved Assignment for 2017-18
Following are the questions of Elective Course in Commerce ECO-02 : ACCOUNTANCY – I of IGNOU – B.COM Assignment. To download answers of all the questions of this assignment in Hindi or English click on the question, you can view or download the answer there.
Question 1. Define Accounting. Explain the accounting concepts which guide the accountant at the recording stage
Question 2. Distinguish between the following
(a) ‘Cash Basis’ and ‘Accrual Basis’ of accounting
(b) ‘Capital Expenditure’ and ‘Revenue Expenditure’
(c) ‘Bill of Exchange’ and ‘Promissory Note’
(d) ‘Trading Account’ and ‘Manufacturing Account’
Question 3. What do you understand by invoice price? Name the items which are recorded at the invoice price in the consignment account. Give journal entries passed for the adjustment of loading the respect of each item.
Question 4.(a) Discuss the drawbacks of single entry system of accounting. Briefly explain the two methods of ascertaining profit when accounting records are incomplete.
(b) What is Sectional Balancing? How does it differ from Self-Balancing?
Question 5.(a) State the steps involved in the preparation of Receipts and Payments Account from the Income and Expenditure Account. Give example.
(b) Describe the methods of recording depreciation in the books of account. How is the balance of the provision for depreciation account shown in the Balance Sheet?