| Post Name | LABORATORY TECHNICAL ASSISTANT ACCOUNTING AND AUDITING |
|---|---|
| Department | VHSE |
| Question Paper Code | 030/2015 |
| Date of Test | 13 February 2015 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Capital Account is: |
Answer
C. Liability account .
2
Promissory note is :
Answer
A. An undertaking
3
Chairman and Managing Director of State Bank of India (2013-2014) :
Answer
B. Arundhati Bhattacharya
4
If shares are issued to promoters in consideration of their services instead of cash
——$—————_—__— will be debited.
|
Answer
B. Goodwill account
5
‘SEZ'standsfor:
Answer
A. Special Economic Zone '
6
Venture capitalists are alao known as -
:
Answer
B. Angel investors
7
Lame Duck is
Answer
B. Bear
8
The act of transferring share holding to electronic form from physical certificate is called :
Answer
C. Dematerialisation
9
World Consumer Rights Day is celebrated on :
Answer
C. March 15
10
Financial leverage is beneficial to:
:
Answer
B. . Equity share holders
11
——————- account is usually opened by businessmen.
Answer
D. Current Account
12
Bill of entry is a document used in:
Answer
B. Import trade
13
The process of perceiving all documents to an audit is called : ;
|
Answer
C. Documentation
14
Contingent liability is :
15
Journal proper is used for recording :
Answer
B. Transaction which cannot be recorded in any other subsidiary books
16
Income tax is collected by :
Answer
B. Central Government
17
Following is an example of factory overhead :
Answer
B. Salary of supervisor
18
Factory overhead during the period Rs. 1,00,000 machine hours worked 25,000 hours.
Determine machine hour rate :
Answer
A. Rs. 4 |
19
Whois the present controller and Auditor General of India?
Answer
C. Shashi Kant Sharma
20
Price strategy usually followed in electronic goods :
Answer
A. Skimming price
21
———————— is the most visible element of marketing mix.
Answer
C. Product
22
———————— is a type of plan which is a combination of all types of plans.
Answer
D. Programme
23
Which accounting standard deals with Goodwill?
Answer
B. Accounting Standard 10
24
Cash Book Acts as :
Answer
B. Both Journal and Ledger
25
If Bank Reconciliation statement starts with cash book balance (positive) and ends with a negative balance it indicates :
Answer
A. Overdraft as per passbook
26
———————— are the owners of the company.
Answer
A. Equity share holders
27
If partnership deed contains no provision regarding payment of interest on partner’s loan, an interest of ———————— can be allowed.
Answer
B. 6%
28
If outstanding expenses are given inside the trial balance it will appear in :
Answer
C. Balance sheet only
29
Preliminary expenses not written off will appear in the balance sheet on asset side as it is a :
Answer
D. Fictitious asset
30
GAAP stands for :
Answer
B. Generally Accepted Accounting Principle
31
Another name for Authorized capital :
Answer
A. Nominal capital
32
In computerized accounting Ctrl + N stands for :
Answer
D. Calculator
33
Test checking means :
Answer
A. Sample checking
34
The ownership of audit working tapers rests with :
Answer
A. Auditor
35
Find odd one out: .
Answer
A. Tally 7.3 , 7
36
Salary of M_P. is taxable under :
:
Answer
D. Income from other sources |
37
Income tax is computed on : |
Answer
D. Total income
38
Single Rate used for absorption of overhead for the whole factory is called :
Answer
A. Blanket Rate
39
Another name for application of overhead is :
Answer
A. Absorption
40
Vouching refers to: . !
Answer
D. Support an entry in the books of account with documentary evidence
41
An audit report prepared by an Auditor when he is not satisfied with the true and fair view of
the state of affairs of the company is :
Answer
B. Qualified Report
42
Previous Year means:
Answer
D. Financial Year immediately preceding the Assessment Year
43
Audit Report is prepared :
Answer
C. After Audit work done
44
Income Tax was introduced in India :
Answer
A. 1860 *
45
That part of uncalled capital which can be called up by the Board of Directors at any time
| other than winding up is called: |
Answer
B. Unreserved Capital . |
46
If acompany is making a profit of Rs. 1,00,000 on a capital investment of Rs. 10,00.000 and
the normal return expected by the similar business is 15%, then the company is:
Answer
C. Over Capitalized
47
The Action Plan containing the details of the conduct of a specific Audit is called :
Answer
B. Audit Programme
48
48 Name of the contract/bond to be executed by a company in the form of an account in order to
fulfill the obligation under the scheme of buy back -
Answer
D. Escrow
49
Meaning of the Latin word ‘audire’ is :
Answer
B. To Hear
50
Overhead represents : 3
Answer
B. Indirect Cost
51
——————— is the ratio of number of workers leaving an organization during a given
period to average number of workers during the same period. |
Answer
A. Labour Turn Over
52
Under Halsey Plan of wage payment bonus is given @ —————___—_ of tans aaved,
Answer
C. 50%
53
53.09 ———_ is arranging well in advance and co-ordinating the audit work of a client.
Answer
D. Audit Planning
54
Who is the present (2013-2014) chairman of SEBI?
Answer
A. U.K Sinha
55
An auditor should certify in which words : |
Answer
A. That the balance sheet exhibits a true and fair view of the state of affairs of the |
56
A Hindu deity is treated as —————————— person for income tax purposes. }
Answer
D. An artificial judicial person
57
Which among the following is an example for casual income under Income Tax Act?
Answer
B. Winning a lottery
58
—————— 1s the basis of apportionment of factory rent.
Answer
B. b) Floor area |
59
An individual assessee can be :
|
Answer
C. Both
60
SEOs is a part of :
.
Answer
A. NIM
61
Bonus shares are also called : ,
Answer
D. Stock Dividend
62
What will be the EOQ in respect of the following? |
| Annual usage — 200 units |
| Cost of placing an order Rs. 9 |
Price of materials per unit — Res. 20
Cost of storage —- 10% :
Answer
C. Rs. GO
63
An entry which has both aspects in one account is called ;
Answer
A. Contra entry
64
After dissolution of partnership firm there will be :
|
Answer
C. Nil balance in all accounts
65
Proprietor withdraws cash for personal use. To effect this transaction ————————
account 1s credited.
Answer
D. Cash account
30/2015 10 A
66
In mechanised industry ———————— rate is the most suitable.
Answer
B. Machine Hour Rate
67
———————— is an example of semi variable cost.
Answer
A. Telephone charges
68
————————— level represents a stock level which indicates an emergency positions,
Answer
B. Danger level
69
69.. If shares issued at premium are forfeited before premium amount is received in entry for
forfeiture share premium account should be : ra
Answer
A. Debited
70
Cost accounting is a technique and ee ascertaining cost.
Answer
C. Process
71
In—————. method of pricing material issues closing stock wilt reflect current price. ‘
Answer
B. FIFO
72
Miss. Suma, an Indian citizen leaves to Japan for a job on October 10% 2015. What is her
residential status for the assessment year 9113-14 if she leaves India for the firat time?
Answer
A. Resident
73
Book building in India was introduced on the recommendations of :
Answer
B. Malegum committee
74
Insider Trading means:
Answer
C. Trading in securities on the basis of unpublished sensitive information
75
———— ime represents the difference between records as per time keeping and time
booking.
Answer
A. Idle time
76
Huge amount spent on advertising is an example for :
Answer
B. Deferred revenue expenditure
77
Control forces events to conform to :
Answer
B. Standards
78
Another name informal communication : 3
Answer
A. Grapevine
79
Commercial paper is an instrument traded in ———————__ market.
Answer
C. Money market
80
Which concept of GAAP forms the basis of classification of items as Capital and Revenue?
Answer
B. Going Concern Concept
81
The place which is known as the “Third Pole” has the world’s highest helipad. Which is that
place?
Answer
B. Siachin
82
Which of the following is a Mangrove forest plant?
Answer
D. Sundari
30/2015 12 A
83
Which food crop in India is sown in October-November and reaped in April?
j
Answer
A. Wheat
84
The state through which the tropic of cancer doesn’t pass?
Answer
C. Bihar {
85
The Governor general who approved the proposal for English education hy Lord Macaulay :
Answer
A. Lord William Bentick
86
The call “Dilli Chalo’ was given by :
Answer
B. Subhash Chandra Bose
87
The only Biological Park in Kerala :
Answer
C. Agasthya foreat
88
A rain shadow area in Kerala: :
Answer
C. Chinnar
89
In which river system is Bhuthathankettu Dam”?
Answer
B. Periyar
90
In which District is Thunchan memorial? :
Answer
C. Malappuram
91
Vuaikunda Swami is associated with.
Answer
A. Channar Revolt
92
The volunteer captain of Guruvayoor sathyagraha :
Answer
D. AK, Gopalan
93
The famous autobiography ‘Kannirum Kinavum’ is written by :
Answer
A. V.T. Bhattathiripadu
94
Kuriakose Elias Chavara was beatified in:
Answer
C. 1986
95
The Villu Vandi Yathra is related to :
|
Answer
D. Ayyankal
96
The boundary line between India and Pakistan: |
|
Answer
B. Radcliff line
97
What is Chipko movement associated with :
Answer
B. Protection of trees and environment
|
98
‘The first wicket keeper who had taken 500 catches in test cricket :
Answer
C. Mark Baucher
99
The FIFA cup final of 2014 was played at :
Answer
A. Maracana
100
The author of the Mask of Africa :
'
Answer
D. V.S. Naipaul
30/2015 14 A
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