Cinemugam (Kollywood)

March 2009 Book-Keeping and Accountancy Time : 3 Hours Marks : 100 Q.1 Attempt any FOUR of the following sub-question: [20] (A) Answer in one sentence. (5) 1. What is Statement of Profit or Loss? 2. What is Reducing Balance Method? 3. What are the Methods of Valuation of Goodwill? 4. What do you mean by Debit balance of Joint Venture Account? 5. When do you mean by Discounting of Bill? (B) Write the word/term/phrase which can substitute each of the following statements: (5) 1. The balance which cannot be recovered from the debtors. (Bad debts) 2. An accounting system where rules of debit and credit are not followed. (single entry accounting system) 3. Money value of business reputation. (goodwill) 4. A person entered into a joint venture. (coventure) 5. The Gift received from legal representative as per the will of a deceased person . (legacies) (C) Match the following pairs: (5) Group 'A' Group 'B' 1.         Opening stock 2.         Fixed installme