Mock Test Paper with Solutions For JKSSB PAA 2020 Exams by Kashmir Student
Portion: ACCOUNTANCY AND BOOK KEEPING | Questions: 30
1. The main objective of Book-keeping is:
(a) Complete recording of transactions
(b) Ascertainment of Financial effect on the business
(c) Analysis and interpretation of data
(d) Both (a) & (b)
2. Which of the following transactions is not of financial character?
(a) Purchase of goods on credit
(b) Purchase of building
(c) Payment of salaries
(d) Strike by employees
3. Internal users of accounting information are:
(a) Creditors
(b) Potential investors
(c) Managers
(d) Researchers
4. External users of accounting information are:
(a) Researchers
(b) Government
(c) Tax authorities
(d) All of the above
5. Which of the following is correct?
(a) Assets = Liabilities – Capital
(b) Assets = Capital – Liabilities
(c) Assets = Liabilities + Capital
(d) Assets = External Equities
6. The Liabilities of a firm are Rs.6000 and the capital of the proprietor is Rs 4000. The total assets are:
(a) Rs. 6, 000
(b) Rs. 10, 000
(c) Rs. 2, 000
(d) None of these
7. Sales made to Ahmed on credit should be debited to?
(a) Account Receivable
(b) Cash
(c) Account Receivable-Ahmed
(d) Sales
8. According to the rules of debit and credit for balance sheet accounts?
(a) Increase in assets, liabilities and owner equity recorded by debit
(b) Decrease in asset and liability are recorded by credit
(c) Increase in asset and owner’s equity are recorded by debit
(d) Decrease in liability and owner’s equity are recorded by debit
9. In which order does the Journal list transactions?
(a) Chronological
(b) Decreasing
(c) Increasing
(d) Alphabetical
10. Ledger is the _______ book of account.
(a) Principal
(b) Prime Entry
(c) Secondary Entry
(d) None of these
11. c/d means _________ and b/d means ______.
(a) carried down; brought down
(b) carrying dowsing; brought down
(c) count down; break down
(d) carried down; break down
12. The process of transferring entries from Journal to Ledger is called _______
(a) Recording
(b) Posting
(c) Entering
(d) Tallying
13. Ledger is a book of:
(a) Original Entry
(b) Final Entry
(c) All Cash transactions
(d) All non-cash transactions
14. Process of checking the evidence of the entries called ________.
(a) Verification
(b) Observation
(c) Vouching
(d) Inspection
15. To verify cash transactions, it is necessary -
(a) System of internal control
(b) Check all transaction
(c) Documentary evidences for every transactions
(d) All of the above
16. A Bank Reconciliation Statement is prepared by:
(a) Creditors
(b) Bank
(c) Account holder
(d) Debtor
17. A B.R.S is prepared with the balance:
(a) Passbook
(b) Cash book
(c) Both a & b
(d) None of these
18. Which is not Contra Entry in three column Cash book:
(a) Cash deposited into bank
(b) Cash withdrew from bank
(c) Cash withdrew from Bank for personal use
(d) None of these
19. Bank Column of the Cash Book may show:
(a) Only a debt balance
(b) Only a credit balance
(c) Either debit balance or credit balance
(d) None of these
20. Which is entered on the debit side of cash book:
(a) Trade discount allowed
(b) Trade discount received
(c) Cash discount allowed
(d) Cash discount received
21. Trial balance checks:
(a) The arithmetical accuracy of books
(b) The honesty of the book-keeper
(c) Accuracy of the book-keeper
(d) All of these
22. A trial balance is a:
(a) real account
(b) Nominal Account
(c) List of balance
(d) None of these
23. Closing stock appear in the trial balance it is transferred to:
(a) trading a/c
(b) P & L a/c
(c) Balance sheet
(d) None of these
24. If closing stock appear in the trial balance it is transferred to:
(a) trading account
(b) P & L A/c
(c) Balance sheet
(d) Trading a/c & Balance sheet
25. Return outwards appearing in Trial Balance are deducted from:
(a) Sales
(b) Purchases
(c) Return Inward
(d) None of these
26. Return inwards appearing in Trail Balance are deducted from:
(a) Purchases
(b) Sales
(c) Return Outwards
(d) None of these
27. In the absence of an agreement profit and losses are divided by partners in the ratio of:
(a) capital
(b) time devoted by each partner
(c) equally
(d) None of these
28. Goodwill brought in cash, will be shared by old partners in:
(a) Sacrificing ratio
(b) Capital ratio
(c) new profit sharing ratio
(d) old profit sharing ratio
29. A, B and C share profit and losses in the ratio of 6: 5: 3. D is admitted into partnership for 1/8 th share. The sacrificing ratio A: B: C is:
(a) equal
(b) 6: 5: 3
(c) 5/14: 4/14: 3/14
(d) None of these
30. Closing capital is Rs. 1, 000. Opening Capital was Rs. 5000. But profit is Rs. 700. So there must be a _______ of Rs. 200 during the year.
(a) Drawing
(b) Capital
(c) Interest
(d) None of these
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