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ACC201 Financial Accounting

Financial Accounting: most repeated questions

Questions that have come up in more than one paper, matched by what they ask rather than exact wording. Most repeated first.

  1. 3×Asked in 2025, 2024, 2023
    The following information are provided to you: Profit for the year Rs 10,000 Loss on revaluation Rs 40,000 Gain from cash flow hedges Rs 30,000 Gain on sales of investment Rs 50,000 Actual loss on pension schemes Rs 20,000 Required: Statement of other…Answer coming2
    See the wording in each paper
  2. 3×Asked in 2025, 2024, 2023
    What do you mean by going concern concept?Answer coming2
    See the wording in each paper
  3. 3×Asked in 2025, 2024, 2023
    What is intangible asset?Answer coming2
    See the wording in each paper
  4. 2×Asked in 2025, 2023
    Differentiate between accounting and accountancy.Answer coming5
    See the wording in each paper
  5. 2×Asked in 2025, 2023
    Nepal Yatayat company purchased a Minibus at the cost of Rs 880,000 on Baishak 2080. The estimated life of the Minibus is 160,000 KMs with a salvage value of Rs 80,000. During 2080 and 2081 the minibus was run for 15,000 KM and 21,000 KM respectively.…Answer coming2
    See the wording in each paper
  6. 2×Asked in 2025, 2023
    The bank statement of a company showed a balance of Rs 42,000 on 31st Ashad 2081. However, the company balance showed a different balance of Rs 38,000. On the investigation, the following differences were noticed: Outstanding cheque Rs 11,000 Deposit in…Answer coming5
    See the wording in each paper
  7. 2×Asked in 2025, 2024
    The following information is given below: 1st July 2022Machinery purchased Rs 400,00030th June 2023Additional machinery purchased Rs 500,00030th June 2025Machinery purchased on 1st July was sold for Rs 300,000 Additional information: Depreciation is to be…Answer coming5
    See the wording in each paper
  8. 2×Asked in 2025, 2024
    The following transaction is given: Started business with Cash of Rs 12,000, and stock of Rs 20,000. Purchased goods for Rs 10,000 and Cash paid only Rs 4,000. Commission received Rs 5,000. Required: Accounting Equation.Answer coming2
    See the wording in each paper
  9. 2×Asked in 2024, 2023
    The KK Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2023ParticularsAmount (Rs)Revenue from operation1,200,000Less: Cost of…Answer coming10
    See the wording in each paper
  10. 2×Asked in 2025, 2024
    The trial balance of B & B company as of 31st December 2025 is given below: ParticularsDebit (Rs.)Credit (Rs.)Common stock 350,000Building200,000 Goodwill50,000 Plant and equipment300,000 10% bank loan 120,000Revenue from operation 600,000Purchases300,000…Answer coming10
    See the wording in each paper
  11. 2×Asked in 2025, 2024
    The XYZ Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2080 ParticularsAmount (Rs.)Revenue from operation1,000,000Cost of sales(600,000)Gross…Answer coming
    See the wording in each paper