PAPER – 2: FUNDAMENTALS OF ACCOUNTING
Section A: Fundamentals of Financial Accounting (80%)
Section B: Fundamentals of Cost Accounting (20%)
1. Accounting Fundamentals 35%
2. Accounting for Special Transactions 20%
3. Preparation of Final Accounts 25%
4. Fundamentals of Cost Accounting 20%

Section A: Fundamentals of Financial Accounting [80 Marks]
Section A is divided into two parts.
First part consists of total 48 short answer type questions which are summarised as follow:
Type of Questions
No. of Questions
Total Marks
Multiple Choice Questions
30 Questions
30x1 = 30
True or False
12 Questions
12x1 = 12
Match the following
6 Questions
6x1 = 6
Total Marks
48
Second part consist of total 32 marks in which you have to attempt 4 questions carrying 8 marks each out of 6 given questions.
Important Topics for Second Part
Asked in which exam?
Depreciation and Machinery account
June 2017(SLM), Dec 2017 (WDV), June 2018 (SLM)
Consignments accounts
June 2017, Dec 2017
Income and Expenditure account
June 2017
Rectification of errors (Journal Entries)
June 2017, June 2018
Adjustment entries
June 2017, June 2018
Bank reconciliation statement
June 2017, Dec 2017, June 2018
Three Column cash book
Dec 2017
Effect of adjustments in final accounts
Dec 2017
Preparation of final accounts
Dec 2017, June 2018 (Only B/S),
Bills of Exchange
June 2018
Section B : Fundamentals of Cost Accounting [20 Marks]
Section A is divided into two parts.
First part consists of total 12 MCQs questions which are carrying 1 mark each: 12x1=12 Marks
Second part consist of total 8 marks in which you have to attempt 1 question carrying 8 mark out of  2 questions given.
Common Topics:
a) Preparation of cost sheet
b) Basic Concept of Cost accounting

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