| SESSION | JULY AUGUST 2026 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | I |
| COURSE CODE & NAME | DMBA116 FINANCIAL ACCOUNTING |
Assignment Set 1
Q.1. What is Accounting? Discuss its objectives, scope, advantages, and limitations. Also explain the basic terminologies commonly used in accounting. (10 Marks)
Ans 1.
Purpose of accounting and what it means
Accounting is the recording of the transactions through identification, classification and summarisation and the interpretation and communication of the results. It transforms data from transactions to information that enables users to know the performance and financial standing of a business.
Its primary aims are to keep a systematic record, to determine the profit or loss and to present the assets, liabilities and equity
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Q.2. Journalize the transactions as per format:
• January 1: Ramesh started the business with cash 1,50,000
• January 3: Goods purchased for cash 25,000
• January 5: Furniture purchased on credit from Rajesh 40,000
• January 7: Rent paid in cash 12,000
• January 9: Goods sold for cash 50,000
• January 10: Goods sold on credit to Shyam 35,000
• January 12: Salaries paid 15,000 (10 Marks)
Ans 2.
The journal entries are based on the following:
The amount of each transaction is debited and credited equally. The following entries are based on the periodic inventory approach where the inventory items purchased for resale are recorded in Purchases Account. Question does not specify tax information and no separate tax entry is
Q.3. What are Accounting Policies and Accounting Standards? Explain the concepts of GAAP and IFRS. Also discuss the circumstances and implications of changes in accounting policies. (10 Marks)
Ans 3.
Accounting policies and standards
An entity’s accounting policies are the specific principles, bases and practices that are applied in preparing and presenting financial statements. They determine such things as what basis to use to measure assets and what is an acceptable cost formula to use for inventory. Policies are required to be within the reporting framework.
Accounting Standards provide guidance on the recognition, measurement, presentation and disclosure of
Assignment Set 2
Q.4. Explain the Double-Entry System of Accounting and discuss the rules of Debit and Credit. Illustrate the preparation of Journal Entries, including adjustment entries, with suitable examples. (10 Marks)
Ans 4.
Double entry system as used in accounting.
Double Entry System accounts for all transactions with equal debits and credits. A transaction impacts at least two accounts, but may involve more for compound entries. The system maintains the accounting equation and gives a uniform foundation to prepare ledger accounts and financial statements.
Assets = Liabilities
Q.5. Prepare a Trial Balance from the following balances as on 31 March 2026: (10 Marks)
| Particulars | Amount (₹) |
| Cash | 10,000 |
| Capital | 50,000 |
| Purchases | 30,000 |
| Sales | 45,000 |
| Rent | 5,000 |
| Salaries | 8,000 |
| Debtors | 20,000 |
| Creditors | 12,000 |
| Furniture | 15,000 |
| Total | 1,95,000 |
Ans 5.
Provisional Trial Balance as on 31 March 2026
A Trial Balance reports the balances of the ledgers on their normal debit or credit side. Normally, the balances of assets and expenses are DEBITS and the balances of capital, liabilities and income are CREDITS. Below are the categories that the figures provided will be classified into without any
Q.6. Explain the preparation and components of Final Accounts. Discuss the various methods of Depreciation, the concept of Window Dressing, and the importance of Non-Financial Reporting. (10 Marks)
Ans 6.
Final accounts and preparation of final accounts
Final accounts provide information about the performance during a period and the financial position at the end of the period. Preparation starts by reviewing the Trial Balance and making adjustments like closing stock, outstanding expenses, prepayments and depreciation. The statements are
| SESSION | JULY AUGUST 2026 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | I |
| COURSE CODE & NAME | DMBA115 MANAGERIAL ECONOMICS |
Assignment Set 1
Q.1. Explain the law of demand and discuss the major assumptions underlying it. Describe the key factors that influence price elasticity of demand and compare the elasticity of demand for different types of goods. How can businesses apply the concept of price elasticity while determining prices in competitive markets? (3+3+4 = 10 Marks)
Ans 1.
Law of demand and the assumptions of the law of demand
The law of demand indicates that as a product’s own price decreases, the quantity demanded increases and vice versa, with other factors remaining constant. A price change thus results in a movement on a demand curve. Another determinant affects the position of the curve.
The law assumes that the income of the consumer, his tastes, his expectations and the prices of related goods are unchanged
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Q.2. Describe the law of supply and discuss the situations in which it may not hold. Explain how changes in demand and supply influence the equilibrium of a market. With the help of suitable diagrams, illustrate the effects of simultaneous changes in demand and supply on equilibrium price and quantity. (3+3+4 = 10 Marks)
Ans 2.
Law of supply
According to the law of supply, the quantity supplied of a commodity tends to increase with an increase in the price of the commodity and vice-versa, ceteris paribus. When the production of additional units causes the MC to rise, higher prices can make that output worthwhile.
It assumes that technology, prices of inputs, taxes, etc., remain constant. Any change in these factors would cause the supply curve to move and not just move along it. The impact of the current price needs to be
Q.3. Distinguish between short-run and long-run production functions and explain the law of variable proportions and returns to scale. Analyze the relationship between cost and output and explain the derivation and interrelationship of the major short-run cost curves. (6+4 = 10 Marks)
Ans 3.
The concepts of short run and long run production
A production function illustrates the maximum output possible with a given state of technology, set of inputs. At least one factor of production is fixed in the short run. A manufacturer could change the amount of labour and materials, but there would be no change in the capacity of the factory. Long run is a period of production where all factors are variable including plant.
It’s a difference in
Assignment Set 2
Q.4. Explain the process of price and output determination under perfect competition. How does it differ from price and output determination under monopoly? Discuss the implications of these two market structures for efficiency, consumer welfare, and resource allocation. (5+5 = 10 Marks)
Ans 4.
Perfect competition
Perfect competition is where there are many buyers and sellers selling a homogeneous product, free entry and exit and information in the market. Market price is established by the industry demand and supply curves. The individual firm takes the price as a given since the firm has a negligible output in comparison to the market.
Hence, average revenue and
Q.5. Discuss the objectives and major instruments of monetary policy and fiscal policy. Analyze how these policies can be used to control inflation, unemployment, and fluctuations in economic activity, highlighting their relative effectiveness under different economic conditions. (5+5 = 10 Marks)
Ans 5.
Objectives of economic policy
Monetary and fiscal policies affect demand, financial conditions and economic activity. They aim to achieve price stability, sustainable growth and high employment. They also have the potential to dampen the impact of business cycles, though their impact will vary based on the origin of the economic
Q.6. Discuss the major causes and different types of inflation and deflation. Explain the relationship between inflation and unemployment through the Phillips Curve and examine its significance for macroeconomic policy formulation in modern economies. (5+5 = 10 Marks)
Ans 6.
Causes of Inflation
Inflation is an ongoing increase in the overall price level that decreases the value of money. Demand pull inflation is inflation that is caused by an increase in aggregate spending that exceeds the production of goods and services in the economy. It can be due to strong credit expansion, strong