1. What is meant by double entry system of book keeping? 2. Distinguish between Management Accounting and Financial Accounting. 3.

Write any five accounting Concepts. 4. State clearly various methods of depreciations. 5. Distinguish between Trial Balance and Balance Sheet? 6. State the advantage and limitations of Ratio analysis. 7. Explain the meaning, objectives and importance of analysis and interpretation of financial statements. 8. What are comparative financial statements? How are they prepared? 9. What are the major sources and applications of funds? 10. What are the advantages and limitations of fund flow statement? 11. Distinguish between cash flow analysis and fund flow analysis? 12. Define: (i) Budget (ii) Budgetary control 13. What is Zero-base budgeting? How does it differ from traditional budget? 14. Define cost accounting, what are the advantages and limitations of cost accounting. 15. What are the various elements of costing? 16. What is a cost sheet? Give format of a cost sheet? 17. Distinguish between marginal costing and Absorption costing. What is Break Even chart? How is it constructed