IGNOU Solved Assignment for B. COM / ECO 2020-21
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ECO - 01
Attempt all the questions:
1. Describe
essential features of business. What are the main objectives of business? (10+10)
2. What are the
requisites of an ideal form of business organization? Compare briefly various
forms of business organizations. (10+10)
3. Describe various financial institutions for assisting industrial enterprises (20)
4.What is the role of advertising agencies in promoting business? Explain the factors that influence choice of media. (5+15)
5.Write short notes on the following: (4X5)
a.
Methods of
raising capital
b.
Functions of
wholesalers
c. Role of commercial banks
d. Stock Exchange
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ECO - 02
Attempt all the questions:
1.
What is meant
by Bank Reconciliation Statement? What are the main causes of differences
between the cash balance shown by Cash Book and Pass Book? Explain the steps
involved in preparation of a Bank Reconciliation Statement. (20)
2.
Give journal
entries for the following adjustments and also explain the accounting treatment
of these adjustments while preparing the Final Accounts of an Enterprise? (20)
i.
Interest
received in advance Rs. 600
ii.
Interest on
drawings Rs. 1200
iii.
Provision for
discount on creditors Rs. 400
iv.
Loss of goods
by theft Rs. 9,000
v.
Drawings of
goods by the proprietor Rs. 800
3.
a) What
procedure is followed for valuation of closing stock when normal and abnormal
losses occur simultaneously. Explain with suitable examples.
b) Explain various methods of recording the
joint venture transactions without maintaining separate set of books. (10+10)
4.
What are the
salient features of Single Entry System? Discuss the drawbacks of Single Entry
System of Accounting. Briefly explain the two methods of ascertaining profit
when accounting records are incomplete.
5.
Explain the
meaning of the following terms and show how will you treat them while preparing
the final accounts of a non-trading concern?
i.
Legacy
ii.
General
Donation
iii.
Life Membership
Fees
iv. Receipts for Tournament Fund
v. Sale of used Sports Materials Unit 18/19
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ECO - 03
Attempt all the questions:
1. What is meant by scientific management? Discuss its main principles, merits and limitations. (20)
2. What do you understand by leadership? Define 'leadership style'. What are the main differences between autocratic, democratic and free rein leadership styles? (20)
3. Write short notes on the following: (4X5)
a.
Principles of
delegation of authority
b.
Span of control
c.
Organization
structure
d.
Herzberg's
Motivation Hygiene Theory
4. Differentiate between the following: (4X5)
a.
Management and
administration
b.
Policies and objectives
c.
Line and
Functional Organization
d.
PERT and CPM
5. Comment briefly on the following statement:
a.
Planning and
decision making are two sides of the same coin.
b.
Job description
and job specification are useful in recruitment and selection of employees so
as to find the right persons for the jobs
c. The process of communication implies the existence of a sender, a receiver, a message and a motivating climate for it.
d. Coordination is the essence of management.
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ECO - 05
Attempt all the questions:
1. a) ‘A stranger to a Contract cannot sue’. Discuss. Are there any exceptions to this rule? (4+8)
b) All contracts are
agreements but all agreements are not contracts. Discuss. (8)
2. Explain the different types of remedies available to an aggrieved party in case of breach of a contract. (20)
3. Distinguish between (a) coercion and undue influence (b) misrepresentation and fraud with examples. (10+10)
4. a) Discuss the various modes of termination of agency. (10)
b) Is registration of
partnership firm compulsory? What are the consequences of non-registration of a
partnership firm? (10)
5. a) What is the role of ‘caveat emptor? Explain the exception to this rule. (10)
b) Who is an unpaid seller? Explain his
rights as against goods. (4 +6)
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ECO - 06
Attempt all the questions:
1. Explain the exceptions to the Law of demand using the distinction between substitution and income effects. (20)
2. What is the meaning of the term 'Monopoly'? In what way does it differ from perfect competition? (20)
3. What do you understand by production possibility curve? Illustrate it with the help of a suitable example. (20)
4. What is long-run cost curve? Why is short-run Average Cost Curve U-shaped? (20)
5. Write short notes on the following: (4X5)
(a) Opportunity cost
(b) Quasi Rent
(c) Consumer's surplus
(d) Indifference curves
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ECO - 07
Attempt all the questions:
1. Compare between mean, median and mode to point out their merits and limitations. (20)
2. Differentiate between dispersion and skewness. If Karl Persons’s coefficient of skewness (SKp) = 0.06; mean = 150; variance of distribution= 2500 Find: median; mode & coefficient of variation. (20)
3. (a) Discuss the usefulness of statistics and explain the limitations of statistics. (10)
(b) What is tabulation?
Differentiate between classification and tabulation? (10)
4. (a) Calculate the quartiles Q1 and Q3 for wages of the labours given below: (10)
|
Wages |
30-32 |
32-34 |
34-36 |
36-38 |
38-40 |
40-42 |
42-44 |
|
Labourers |
12 |
18 |
16 |
14 |
12 |
8 |
6 |
(b) The consumption of number of guava and
orange on a particular week by a family are given below:
|
Number of Guavas
|
3 |
5 |
6 |
4 |
3 |
5 |
4 |
|
Number of Oranges
|
1 |
3 |
7 |
9 |
2 |
6 |
2 |
Which fruit is consistently consumed by the
family?(10)
Q.5 Write short notes on the following: (4X5)
a.
Law of
statistical regularity
b.
Non sampling
errors
c. Factors Affecting Choice of Data
d. Lorenz Curve
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ECO - 09
Attempt all the questions:
1. Define the concept of inflation and explain inflationary process. Why should inflation be controlled? Explain the various measures to be adopted to control it. (20)
2. What is credit creation? Explain how banks can create credit. What are the limitations of credit creation? (20)
3. What is meant by money market? Discuss various constituents of money market and their functioning in India. (20)
4. Discuss the functions of the World Bank. Does its performance solve the capital scarcity problems of less developed countries? (20)
5. Write short notes on the following: (4X5)
a.
Superiority of
Keynes analysis of Money and Prices over the classical analysis
b.
Central Bank
c. Non-bank financial intermediary
d. Functions of Commercial Bank
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ECO - 10
Attempt all the questions:
1. Describe the factors to be considered before installing a system of costing in an organization. Also explain the requisites of an effective system of costing.(10+10)
2. Define 'material control'. What are its objectives? Describe its advantages and basic requirements. (2+3+5+10)
3. What are the main methods of pricing? Explain the First in First out method. In a factory, the following purchase and issues were made during the month of Account January, 1988. (5+5+10)
Date Purchases
Units Issues Units Rate (Rs)
Jan. 1 500 5.00 -
Jan. 8 300 5.10 -
Jan. 13 - - 600
Jan. 18 400 5.20 -
Jan. 23 - - 300
Jan. 25 500 5.10 -
Jan. 31 - - 200
Prepare the stores Ledger Account under FIFO
method.
4. What are the distinct features of direct and indirect labour? Explain the principle of time keeping and its purpose. (10+5+5)
5. Write short notes on the following: (4X5)
a)
Methods of
absorption
b)
Contract
costing
c) Process costing
d) Classification of costs
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ECO - 11
Attempt all the questions:
1. What are the different categories into which the assesses are divided with regard to residence? Give brief account of each of them? (20)
2. What do you understand by the term ’Capital Gains’ under Income Tax Act? How is Long term Capital gain and Short term Capital gain computed? (20)
3. From the following information of Mr. Sunil, computed the taxable income of house property: (20)
a.
Municipal
Valuation 3,30,000
b.
Fair Rent
3,60,000
c.
Standard Rent
under Rent Control Act 3,36,000
d.
Unrealized Rent
of previous year 2013-14 (Conditions of Rule 4 Satisfied) 30,000
e.
Rent realized
in year 2019-20 from unrealized Rent of previous year 2013-14 24,000
f.
House was let
at Rs. 30,000 p.m.
g.
Rent Unrealized
of the year 2019-20 30,000
4. From the following particulars of income of Mr. Anup, a Government Employee compute taxable income from salaries for the assessment year 2020-21:
1.
Basic Salary
78,000
2.
High Cost of
Living Allowance 13,000
3.
Entertainment
Allowance 11,200
4.
Conveyence
Allowance 6,000
5.
Family
Allowance 6,000
6.
Bonus 20,000
7.
Rent – free
unfurnished house of which rental value is Rs. 6,000 p.m.
8.
Anup has his
own moter-cycle which is used by him both for private and official proposes.
Employer paid Rs. 10,000 for its expenses
Mr. Anup spends 40% of entertainment allowance on the entertainment of
Government officials. He contributes 12% of his salary in statutory provident
fund. 80% of conveyance allowance was spent in performing duties. He got
entertainment allowance Rs. 250 per month prior to 1-4-1980. As per Government
rules, the licensing fee of house shall be equal to 10% of basic salary.(20)
5. Write short notes on the following: (4X5)
1)
Agriculture
Income
2)
Pension
3) Bond washing Transactions
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