Uttarakhand Sahayak Lekhakar (Assistant Accountant) Solved Exam Paper 2018

61. A summary of all assets and liabilities on a particular date is shown in :
(A) Trial Balance
(B) Profit and Loss Account
(C) Balance Sheet
(D) Fund Flow Statement

62. A concept that a business enterprise will not be sold or liquidated in the near future is known as :
(A) Monetary unit
(B) Economic activity
(C) Going concern
(D) None of the above

63. From the following particulars, cash flow from investing activities will be –
Investment at the beginning of the period = ₹580,000
Investment at the end of the period= ₹340,000 During the year, the company had sold 50% of its investment held in the beginning of the period at the profit of ₹90,000.
(A) 3,11,000
(B) 320,000
(C) 310,000
(D) 330,000

64. ‘An auditor is a watch dog and not a blood hound’. This decision was given in which of the following cases ?
(A) London and General Bank
(B) Kingston Cotton Mills Company
(C) Union Bank Ltd.
(D) None of the above

65. Interest on debentures is calculated on :
(A) Its face value
(B) Its issue price
(C) Its market price
(D) Its redemption price

66.Financial statements are :
(A) Anticipated Facts
(B) Recorded Facts
(C) Estimated Facts
(D) Both (B) and (C)

67. Why residential status is Seen in taxation?
(A) To determine tax liability
(B) To levy penalty
(C) To levy interest payable
(D) To determine nationality

68. Debenture holders receive;
(A) Dividend
(B) Interest
(C) Profit
(D) None of the above

69 Incorrect treatment of revenue expenditure as capital expenditure results in :
(A) Increase in liabilities
(B) Increase in losses
(C) Increase in profits or decrease in losses
(D) Decrease in profits or increase in losses

70. A capital gain is a gain made on :
(A) The transfer of a personal car
(B) The transfer of household furniture
(C) The transfer of a capital asset
(D) The transfer of stock in trade

71. Who can be an auditor?
(A) Commerce Graduate
(B) Law Graduate
(C) Cost Accountant
(D) None of the above

72. Under hire purchase system depreciation is charged on:
(A) On cash price
(B) On hire purchase price
(C) On market price
(D) None of the above

73. Withdrawals by the proprietor would :
(A) Reduce both assets and owner’s equity
(B) Reduce assets and increases liability
(C) Reduce owner’s equity and increases liability
(D) No change

74. Provision for bad and doubtful debts is created in anticipation of bad debts on the basis of:
(A) Conservation concept
(B) Going concern concept
(C) Full disclosure concept
(D) Industry practice concept

75. The profit sharing ratio between A & B is 3:2, C enters into partnership for 1/5 share in profit or loss and their becomes 3:1:1 and C brings in ₹50,000 for goodwill. A & B will share the goodwill amount :
(A) A = ₹38000, B= ₹12000
(B) A = ₹30000 , B= ₹20000
(C) A = ₹50000 , B = ₹Nil
(D) A = Nil , B = ₹50000

76. When equity shareholders funds exceed the total of debentures and preference share capital, the capital structure is referred to as :
(A) High geared
(B) Low geared
(C) Evenly geared
(D) None of the above

.
77. The account which will be credited while making adjustment entry for interest on capital is :
(A) Capital Account
(B) Interest on Capital Account
(C) Profit & Loss Account
(D) Interest Account

78. Wages paid to Mohan for establishing a machine should be debited to :
(A) Wages Account
(B) Machine Account
(C) Mohan’s Account
(D) Cash Account

79. Margin of safety can be improved by :
(A) Increasing variable cost

(B) Increasing fixed cost
(C) Reducing volume of output
(D) Increasing selling price

80. Prefer Preference shares can be redeemed:
(A) only if they are fully paid up
(B) even if they are partly paid up
(c) after getting permission from the Court
(D) All of the above

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