Skip to content

MGT101 Final Term Past Papers 2022

A person making or producing anything must not only know how much it costs to make but also to help in determining the selling price. It is necessary that the person not only knows the cost of what is being produced but also the cost of each component that has gone into production. The control of the costs being incurred is also necessary otherwise the same can exceed the estimates. All this is only possible if the costs and data relating to production is properly recorded and analyzed. It is an exercise that is only carried out by the Accountant.

Translating every transaction in terms of money does not always mean that the money changes hands, at the same time at which the transaction takes place. It may be paid before or after the goods are exchanged. When the money value of an item being purchased is paid, at the same time when the item is exchanged. The transaction is said to be a cash transaction or in other words, if the value of the transaction is met in cash at the time of the transaction such kind of transaction is said to be a cash transaction.

MGT101 Final Term Past Papers 2022, mgt101 final term past papers, mgt101 past papers 2022, mgt101 final term papers, mgt101 final term 2022 past papers download

A partnership means a lawful business owned by two or more persons. The profit of the business is shared by the partners in an agreed ratio. The liability of each partner is unlimited. Small and medium-size business activities are performed under this organization. A joint-stock company is a voluntary association of persons created by law. It has a separate legal entity apart from its members. It can sue and be sued in its name. In the joint-stock company, the work of the organization begins before its incorporation by promoters and it continues after incorporation.

For Download File Financial Accounting One Please Click the below Button wait for a few seconds to download the file.

In manufacturing concerns, Raw material stock is put into the process. For accounting purposes, all value of stock and other manufacturing costs are charged to work in process account. When the process is completed and the goods are prepared, all the value of work in process is charged to the finished goods account. The business sells finished goods for the whole accounting year. At the end of the year, goods that are unsold are deducted from the cost of goods sold account.

In manufacturing concerns, raw material is put in a process to convert it into finished goods. At the end of the accounting period, some part of the raw material remains under process. i.e. it is neither in the shape of raw material nor in shape of finished goods. Such items are taken in stock as work in process.

MGT101 Final Term Past Papers 2022, mgt101 final term past papers, mgt101 past papers 2022, mgt101 final term papers, mgt101 final term 2022 past papers download

error: Content is protected !!
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Kindly Disable Your Adblocker Extensions