FFA Past Paper (February Updated)

DEC (2022)
Descriptive
• Cash book
• Financial book
• Financial statement and its objective
• Five incurred business activities
• Income statement with following example of revenue and expenditure
• Statistical book
• Subsidiary book
MTQs
• Adjusting entries
• Bank Reconciliation
• FIFO (Periodic method)
• Statement of financial position (balance Sheet)
• Trial balance
FEB (2023)
Descriptive:
• Accounting cycle and process
• Define Balance sheet and what effect of following elements and give two examples; Assets,
Liability, capital equity
• Depreciation straight line
• Diff btw book keeping and accounting
• Errors affecting trial balance
• Features of receipt and payment account
• General Journal
• Income statement (SOPL) (P & L)
• intangible and tangible with two examples
MTQs
• (Machine purchase on 1st January 2011. Cost is 3000000. Transportation charges 2000.
Installation n testing 48000. Life
10 yrs. Salvage value 200000. Method straight line. Purchase new machine cost 5000000 with
exchange of old machine in 2000000. Calculate machine purchasing cost. Pass journal entry
for machine cost and other than cost. calculate dep for 2011 2012 2013 2014 2015 and 30
June 2016. gain or loss on exchange of machine). Create a trial balance. Create statement of
profit and loss. Find the cost of equipment shipped from outside, it's depreciation and
profit/loss on disposal.
• General entries
• statement of cash flows

APR (2023)
Descriptive
• Bank reconciliation? It's importance •Define Cash flow and its uses.
• Change in equity
• FIFO method •rectification of errors MTQs:
• Disposal
JUNE (2023)
• capital and revenue expenditure
• define non-current asset. And briefly explain 3 examples of non-current asset?
• Explain control account
• General ledger
• what is depreciation? Give the formula of reducing method.
• What is the benefit of depreciation
• Working capital MTQS:

AUG (2023)
• Capital invested and Capital employed

OCT 2023
 Types of Errors
 Dec 2023
Descriptive:

1) Inventory turnover, how to calculate or briefly explain

business entity
2) Define Reducing Balance Method
3) Ek question tha, uss ky andar usny Total unit sold and
price per unit di huyi thi orr expense bataya tha, ky
10% of sales tax tha and 30% of sale orr usny kxh
missing figures di thin un ka answer find krna tha, jesy
ky profit before tax and profit after tax and gross
profit etc.
4) Depreciation
5) Bad Debts

MTQs:

1) Adjusting Entries
2) Trial Balance
3) Bank Reconciliation
4) Statement of Profit & Loss (Income Statement)
5) Statement of Financial Position (Balance sheet)
6) Inventory
7) Journal General
8) Depreciation

MCQs:

Mcqs Ky Liye

Chap No: 1,2,3,4,5,10,12,14,15,17,22,23,24,25

Ye Chapters thk sy krein, Mostly mcqs issi mein sy aaty Hein.

February 2024
MTQ:
1) Depreciation
2) adjusting entries
3) Statement of Profit and loss (SOPL) (Income Statement)
4) Statement of Financial Position (SOFP) (Balance Sheet)
5) Trial Balance
6) Closing inventory perpetual system
7) FIFO (Cost of goods Sold)
8) Computation of cost of machine and gain and loss on its disposal, uski depreciation or entry etc
9) Bank Reconciliation
10) Inventory

Descriptive:
1) Inventory turnover ratio and its usefulness in assessing a company’s liquidity
2) Transaction di huyi thi, bataana tha ky konsa account debit hoga konsa credit, jesy goods bought
on credit ki transaction
3) Uses of statement of cash flows
4) Types of expenses
5) Non-Current asset Definition
6) Sole Trader Entries krni thi
7) Transactions journalize krky likhni thi (SOPL)
8) Define Book keeping and accounting
9) Define Tangible and intangible assets
10) Five business activities

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