B.Com Sem 4 Question Paper Answers and Solutions

Advanced Income Tax & GST

Computation of Taxable Business Income (PGBP) from a company's Profit & Loss Account by adding back disallowed expenses (e.g. income tax, personal expenses, excess depreciation) and deducting exempt incomes (appears yearly for 15 marks); Long-term Capital Gains calculation with Cost Inflation Index (CII) indexation; GST Input Tax Credit (ITC) set-off calculation determining net tax payable for CGST, SGST, and IGST.

Financial Management

Working Capital Estimation statement using the Operating Cycle method calculating raw material, WIP, finished goods, debtors, and creditors; Capital Budgeting comparison of two mutually exclusive projects using Net Present Value (NPV) and Payback Period; Operating, Financial, and Combined Leverage calculation with EBIT-EPS analysis.

Auditing

Vouching of Cash Book transactions (Cash Sales, Payments to Creditors, Wages, Salaries); Difference between Internal Check and Internal Control; Rights, Duties, and Liabilities of a Company Auditor under Companies Act 2013; Clean Audit Report vs Qualified Audit Report circumstances.

Company Law

Difference between Memorandum of Association (MOA) and Articles of Association (AOA); Doctrine of Ultra Vires and Doctrine of Indoor Management with landmark case laws; Annual General Meeting (AGM) legal provisions regarding 21-day notice, quorum, and consequences of default; Appointment and removal of Company Directors.