As you are asking for MBA Oral Exam sample question so on your demand I am telling same for you :

1. Define Accounting and identify the main branches within the accounting profession. Identify the three major financial statements and the main users of financial accounting information.

2. Explain the income statement. What are: 1) Revenues 2) Expenses 3) NI 4) EPS? Identify differences among income statements in: - Single Step or Multistep Forms - Contribution Margin Form or Gross Margin Form Explain Gross Profit Margin, Net Profit Margin, and Rate of Return on Equity.

3. Identify the sequence of steps in the account information processing cycle. Discuss Transaction Analysis and Double Entry Accounting . Describe the Journal and the Ledger. What is the Chart of Accounts?

4. Define the concept of Accrual Accounting Income and explain its underlying accounting principles. How does Accrual Income differ from Cash Income? Explain Adjusting Entries and identify four (4) situations requiring adjusting entries. Describe the Allowance Method for Uncollectible Accounts. Why is this method required?

5. Discuss the Balance Sheet. Define the following: 1) Assets 2) Liabilities 3) Owner’s Equity? Identify and explain the basic components of a classified Balance Sheet.

6. Explain the financial accounting concepts of Cost and Expense. How are they related and how do they differ? How are Cost and Expense related to accounting Depreciation, Depletion, and Amortization.

7. Explain the differences between the two accounting Inventory Systems and identify conditions for the applicability of each system. What is the purpose accounting Inventory Systems? How do the Accounting Entries, for sales and inventories, differ between the two Systems? Discuss the importance of taking a Physical Count of inventory-on-hand under the two different inventory systems.


8. Describe the four (4) Inventory Costing Methods. Compare FIFO and LIFO inventory valuation and explain the consequences for financial statements of using FIFO or LIFO accounting.

9. Describe the Statement of Cash Flows and define its components. Explain the Schedule of Noncash Investment and Financing Activities.

10. How is the Direct Method different from the Indirect Method of preparing the Statement of Cash Flows? How is the Cost of Goods Sold related to Cash Payments to Suppliers? Explain the relationships between Sales Revenue and Cash Collection from sales.

11. Compare and contrast the following: 1) Managerial Accounting Information 2) Financial Accounting Information.

12. Compare and contrast the following: 1) Direct Costs 2) Indirect Costs.


13. How does tracing differ from allocation?