2023 2024 MBA - Mumbai University B.Com Exam Previous Years Question Papers

The University of Mumbai is one of the first three state universities in India and the oldest in Maharashtra

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Section I-(Auditing)

Q.1 (a) What are the advantages and disadvantages of Auditing? Explain. 10
(b) Discuss the different techniques of Audit. 8
Q.2 (a) What are the qualifications and disqualifications of a Company Auditor? 8
(b) Explain the meaning and objectives of verification. 8
Q.3 (a) State the disclosure requirements relating to "Fixed Assets" as per Schedule-VI of the
Companies Act, 1956. 8
(b) What do you mean by Test check? What are its advantages and disadvantages? 8

Q.4 (a) Explain basic principles of Auditing. 8
(b) Scrutinise and comments on the following account appearing in the books of Kalakar Ltd. 8
Preliminary Expenses A/c
Date Particulars Amount Date Particulars Amount
10-01-07 To Bank A/c (paid to Raj Printers) 10,000 31-03-07 By Profit and Loss A/c 79,300
15-01-07 To Bank A/c (Natwarlal & Co. Solicitors) 26,500 31-03-07 By Balance C/d 3,17,200
25-01-07 To Equity Share capital
(Ramanlal, Promoter) 1,00,000
30-01-07 To Equity Share capital
(Rajesh, Promoter) 2,60,000
Total 3,96,500 Total 3,96,000

Q.5 Write short notes on any four of the followings:- 16
(a) Clean Audit Report.
(b) Casual Vacancy.
(c) Audit in Computer Environment.
(d) Vouching of Cash Sales.
(e) Audit Certificate.
(f) Internal Check.
Section II - (Costing).

Q.6 Deepali Ltd. submits the following information in respect of its product which passes through three
consecutive process viz U, P and A for the month ended 29th February, 2008: 20
Particulars U Process P Process A Process
Quantitative Information
Basic Raw Material at Rs. 15.00 per k.g. (Kgs.) 60,000 - -
Output during the month (Kgs.) 46,500 31,000 19,000
Stock of Process Output
On 01-02-2008 (Kgs.) 6,000 5,000 4,000
On 29-02-2008 (Kgs.) 7,500 6,000 3,000
Other Additional Information
Process Material (Rs.) 2,55,000 5,40,000 4,50,000
Direct Labour (Rs.) 1,45,000 1,05,000 90,000
Machine Overheads 80% of 150% of 40% of
Direct Other Process
Labour Factory Material
Overheads
Other Factory Overheads (Rs.) 1,68,000 2,25,000 97,000
Normal Loss (%) 20% 30% 40%
Value of Opening Stock per kg. (Rs.) 29 70 145
Scrap Value Per Kg. (Rs.) 12 14 16
The Percentage of normal loss is computed on the number of units entering in the process concerned.
Closing stock is to be valued at the respective cost of each process during the month. You are required
to prepare:
(a) Process Accounts
(b) Process Stock Accounts
(c) Normal Loss Account
(d) Abnormal Loss Account
(e) ) Abnormal Gain Account.

Mumbai University B.Com Auditing and Costing Exam Previous Years Question Paper

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