Uttarakhand Sahayak Lekhakar (Assistant Accountant) Solved Exam Paper 2018

21. Higher the ratio, lower the profitability is applicable to :
(A) Gross profit ratio
(B) Net profit ratio
(C) Operating ratio
(D) Return on investment

22. Total amount of capital to be included in the total in Balance Sheet, is :
(A) Paid-up Capital
(B) Issued Capital
(C) Subscribed Capital
(D) Authorised Capital

23. Payment of honorarium to secretary is treated as :
(A) Capital expenditure
(B) Revenue expenditure
(C) An income
(D) None of the above

24. The present value of annuity of ₹1 for 3 years at 10% is ₹2.487. Super profit is
₹22,000. The amount of goodwill will be :
(A) ₹8846
(B) ₹2200
(C) ₹71745
(D) ₹54714

25. Shares can be forfeited for :
(A) Failure to attend meetings
(B) Non-payment of call money
(C) Failure to repay the loan to the bank
(D) Which shares are pledged as security

26. ‘Detection and prevention of errors’ is :
(A) Main objective of auditing
(B) Secondary objective of auditing
(C) Not objective of auditing
(D) None of the above

27. Amount spent on increasing the seating capacity in a cinema hall is :
(A) Capital Expenditure
(B) Revenue Expenditure
(C) Deferred Revenue Expenditure
(D) None of the above

28. The return on capital employed shows the combined effect of :
(A) Net profit ratio and inventory turnover ratio
(B) Operating ratio and net profit ratio
(C) Net profit ratio and capital turnover ratio
(D) Gross profit ratio and capital turnover ratio

29. In the absence of partnership deed partners shall :
(A) Paid salaries
(B) Not be paid salaries
(C) Paid salaries to those who work for the firm
(D) None of the above

30. Deduction in respect of medical insurance premium is available under section :
(A) 80 C
(B) 80 CC
(C) 80 D
(D) None of the above

31. A, B and C are partners in a firm, D is admitted as a new partner : –
(A) Old firm is dissolved
(B) Old firm and old partnership is dissolved
(C) Old partnership is reconstituted
(D) None of the above

32. Main object of auditing is :
(A) Detection of errors
(B) To find out whether Profit & Loss Account and Balance Sheet show true and fair state of affairs
(C) Detection of frauds
(D) Detection and prevention of frauds and errors

33. Drawing Account is :
(A) Personal Account
(B) Real Account
(C) Nominal Account
(D) None of the above

34. Which of the following will result into inflow of cash ?
(A) Deposited ₹40000 in Bank
(B) Withdrawn ₹54000 from Bank
(C) Purchase of marketable securities of ₹25000 at par
(D) Sold machinery of book value of ₹50000 at a gain of ₹10000

35. Internal audit means :
(A) Audit undertaken to ascertain truth and fairness of state of affairs
(B) Audit undertaken internally to evaluate management functions
(C) Audit undertaken by employees of the organisation to check financial irregularities :
(D) Audit by independent auditor to improve internal affairs

36. A trial balance is a:
(A) Real Account
(B) Personal Account
(C) Nominal Account
(D) List of balances of all accounts

37. On the death of a partner, the amount of joint life insurance policy is credited to the capital account of:
(A) Only the deceased partner
(B) All partners including the deceased partner
(C) Remaining partners, in their new profit sharing ratio
(D) Remaining partners, in their old profit sharing ratio

38. The partnership may come to an end due to the :
(A) Death of a partner
(B) Insolvency of a partner
(C) By giving notice
(D) All of the above

39. What are the applications of computer in accounting ?
(A) To record all business transactions
(B) To prepare various types of ledger
(C) To prepare financial statements
(D) All of the above

40. Under Income Tax Act, income includes following type of receipts :
(A) Statutory receipts
(B) Illegal receipts
(C) Statuary and illegal receipts
(D) None of the above

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