Post : Laboratory Technical Assistant
Department : Kerala Vocational Higher Secondary Education
Category Code : 134/17
Qualification : VHSE; ITI
Date of Test : 28-12-2017
- The financial statement that reports the assets, liabilities and stockholder's (owner's) equity at a specific date is the
- Balance Sheet
- Income Statement
- Statement of Cash Flows
- Trading Account
- Under the accrual basis of accounting, revenues are reported in the accounting period when the
- Cash is received
- Service or goods have been delivered
- Cash paid
- Stock is reduced
- Accounting begins where ________________ ends.
- Book keeping
- Balance sheet
- Journal
- Trial balance
- Creditors are shown on the ____________ side of balance sheet.
- Asset
- Liability
- Debit
- Credit
- Revenue - Expense =
- Asset
- Income
- Liability
- None of these
- _____________ is a brief history of financial transaction of a particular person or item.
- Account
- Balance Sheet
- Journal
- Source document
- If both the aspects of the same transaction are appearing in one account it is ________.
- Contra entry
- Compound entry
- Simple entry
- One sided error
- Asset minus liability is ______________
- Capital
- Drawings
- Credit
- Debit
- Amount spend in order to produce and sell goods and service is called ___________
- Expense
- Income
- Revenue
- Asset
- Going concern assumption tell us the life of business is __________
- Very long
- Very short
- Less than one year
- For one year
- Goodwill is an example of
- Tangible asset
- Intangible asset
- Wasting asset
- Fictitious asset
- L. F. column in the journals is filled at the time of __________
- Journalising
- Posting
- Balancing
- Trial balance
- The double entry system of book keeping was developed by
- Stevenson
- Wilson
- Luca Paciolo
- Churchil
- Purchase of machinery on credit is recorded in
- Sales day book
- Journal proper
- Purchase day book
- Purchase return book
- Goods returned by customers are recorded in
- Sales book
- Purchase book
- Purchases return book
- Sales return book
- On 1st January 2003, Chandran draws a bill on Sundar for 3 months, its due date is
- 31st March 2003
- 1st April 2003
- 4th April 2003
- 10th April 2003
- The balance of cash book indicates
- Net income
- Cash in hand
- Difference between debtors and creditors
- None of these
- Goods taken by the proprietor for domestic use should be credited to
- Proprietor's drawings account
- Sales account
- Purchase account
- None of these
- Source document for material transfer from one department to another is
- Invoice
- Credit note
- Material transfer note
- Debit note
- In which year the audit of companies in India was made compulsory?
- 1911
- 1931
- 1913
- 1948
- Which of the following highlights the correct order of the stages in the accounting cycle?
- Journalizing, final accounts, posting to the ledger and trial balance
- Journalizing, posting to the ledger, trial balance and final accounts
- Posting to the ledger, trial balance, final accounts and journalizing
- Posting to the ledger, journalizing, final accounts and trial balance
- Unearned Revenues is what type of account?
- Liability
- Owners equity
- Asset
- None of these
- Accounting entries involve a minimum _________ accounts.
- One
- Three
- Two
- Five
- Stock in trade are to be recorded at cost or market price whichever is less is based on __________ principle.
- Going concern
- Money measurement
- Cost concept
- Conservatism
- Accounting is the process of matching.
- Revenue and costs
- Benefits and cost
- Cash inflow and out flow
- Potential and real performance
- Which of the following event is subject matter of accounting?
- Death of the manager of the company
- Strike of employees
- Marriage of daughter of MD of the company
- Payment of Salary Rs. 5,000
- Any expense that gives benefit for a period of less than twelve months is called ______
- Deferred expense
- Revenue expense
- Revenue receipt
- Capital expense
- Prepaid rent given in the Trial Balance will be treated as a
- Liability
- Asset
- Income
- Expense
- If asset is 1,50,000 and owners equity is 45,000 then liability is
- 50,000
- 1,95,000
- 1,05,000
- 50,000
- Sale of goods to Manoj is wrongly debited to Madhu A/c instead of Manoj A/c. Both are debtors of business, this is an example of
- Error of omission
- Error of commission
- Error of principle
- Compensating error
- Money spent to upgrade machinery is known as
- Revenue expense
- Capital expense
- Deferred revenue expenditure
- Administrative expense
- Goods of Rs. 1,000 purchased from Mr. "A" were recorded in sales book. The rectification of this error will
- Increase the gross profit
- Reduce the gross profit
- Have no effect on gross profit
- None of the given options
- An amount of Rs. 5,000 received from Mr. "A" but credited to Mr. "B" would affect
- Only B's account
- Only cash account
- Only A's account
- Accounts of A and B
- What will be debited, if Anup commenced business with cash?
- Capital account
- Cash account
- Proprietors account
- Drawings account
- Which among the following is not an element of computer system?
- Hardware
- Software
- People
- Malware
- Withdrawal by proprietor would
- Reduces assets and increases liabilities
- Have no effect on the Balance Sheet
- Reduces owners equity and increases assets
- Reduces both assets and owners equity
- Which of the following cannot be a cause for debiting bank account?
- Cheques deposited for collection
- Cheque sent to bank dishonoured
- Paid into bank
- Cheque given to suppliers dishonoured
- The word 'audit' is derived from the Latin word audire which means
- To check
- Verify
- Watch dog
- To hear
- _____________ audit is conducted by the employees of the business itself.
- Independent audit
- Statutory audit
- Internal audit
- Government audit
- _____________ is auditors plan of action.
- Audit note book
- Audit working papers
- Audit programme
- Audit files
- Which of the following is illegal?
- Tax planning
- Tax avoidance
- Tax evasion
- All of them
- Some times a person deducts tax at source but does not deposit it in government treasury, such person is called
- Ordinary assessee
- Deemed assessee
- Assessee in default
- None of these
- What will be the previous year in the case of assesse who closes his accounts on 31-3-2006?
- 2004-2005
- 2005-2006
- 2006-2007
- 2003-2005
- An individual is considered as Resident u/s 6(1) if he was India for a period ________ days or more in the previous year.
- 60 days
- 180 days
- 365 days
- 182 days
- Which type of audit is conducted throughout the year?
- Annual audit
- Interim audit
- Complete audit
- Continuous audit
- __________ is the examination by the auditor documentary evidences relating to the recording of transactions in support and thus cheeks the authenticity of such records.
- Vouching
- Confirming
- Footing
- Physical examination
- The method of costing used in a refinery is
- Process costing
- Job costing
- Service costing
- Batch costing
- In automobile industry, cost unit is
- Batch
- Tonne
- Number
- None of these
- Under ____________ costing it is the practice of charging all costs, both variable and fixed to operations, process or products.
- Absorption costing
- Direct costing
- Standard costing
- Marginal costing
- _______ is an irrecoverable cost and is caused by complete abandonment of a plant.
- Sunk cost
- Imputed cost
- Differential cost
- Marginal cost
- The total of all direct expenses is known as
- Over head
- Prime cost
- Work cost
- Cost of production
- __________ is that segment of activity of a business which is responsible for both revenue and expenses.
- Cost centre
- Profit centre
- Work centre
- Development centre
- Work cost = __________ + factory overhead.
- Prime cost
- Administration overheads
- Selling overhead
- Distribution overhead
- __________ type of costing is used to ascertain the effect of changes in volume or type of out put on profit.
- Marginal costing
- Uniform costing
- Direct costing
- Standard costing
- ________ is the advantage, in measurable terms, which has been forgone due to not using the facility in the manner originally planned.
- Notional cost
- Differential cost
- Opportunity cost
- Replacement cost
- Under cost accounting stocks are valued at
- Cost price or market price whichever is less
- Market price
- Replacement price
- Cost price
- A set of programmes designed in such a way that they perform certain supporting operations in computer like format a disk, duplicate a disk, physically recognise stored data and programmes is called
- Application software
- System software
- Connecting software
- Utility software
- Contingent liabilities are shown as foot note in the balance sheet as per ______ accounting principle.
- Full disclosure
- Objectivity
- Materiality
- Consistency
- Depreciation accounting is __________ as per accounting standard issued by ICAI.
- Accounting standard 1
- Accounting standard 10
- Accounting standard 20
- Accounting standard 6
- __________ is a fictitious asset.
- Under writing commission
- Oil field
- Plant and machinery
- Patent
- __________ is the feature of Value Added tax which prevents cascading effect of tax.
- Input tax credit
- Different tax slabs
- Cash credit
- None of these
- A ____________ report is prepared by the auditory when he finds the accounts exhibiting a true and fair view of the state of company's financial affairs.
- Unqualified report
- Qualified report
- Specific report
- None of these
- In India Value Added tax is first introduced in __________ state.
- Haryana
- Bihar
- Rajasthan
- Delhi
- The following error affects trial balance is
- Compensating error
- Error of principle
- Error of complete omission
- Error of commission
- _______________ is a technique with an auditor to contact responsible officials through interview and open communication with the outside parties for ensuring that the transactions are authentic, valid and accurate.
- Confirming
- Vouching
- Reconciling
- Testing
- Company audit is an example of __________ audit.
- Government audit
- Internal audit
- Statutory audit
- Private audit
- Any person who is responsible to pay tax on behalf of a minor, lunatic or a non-resident is known as
- Assessee in default
- Ordinary assessee
- Deemed assessee
- None of these
- Assessee includes
- Individual
- HUF
- Company
- All of these
- Income tax department works under
- State govt.
- President
- Income tax commission
- CBDT
- Exempted income is
- Not taxable under income tax
- Not included in total income
- Agricultural income
- All of these
- Types of assesses in income tax from residential point of view
- 2
- 3
- 4
- Many
- Company may be
- Resident
- Non-resident
- Not ordinarily resident
- Resident or non-resident
- Previous year is
- Preceding year
- Income earning year
- Tax calculating year
- Income computation year
- The value added tax is an expense to be suffered by
- Suppliers
- Traders
- Companies
- Final consumer
- The responsibility for the preparation of the financial statements and the accompanying foot notes belongs to
- Both management and the auditor equally
- Management for the statements and the auditor for the notes
- The auditor
- Management
- Debit note is associated with
- Sales return
- Purchase return
- Purchase
- Sales
- Cash book is
- Journal
- Ledger
- Both journal and ledger
- None of these
- Bank reconciliation statement is prepared by
- Bank
- Auditor
- Account holder
- Government
- Identify one sided error from the following.
- Machinery purchase treated as purchase
- Cash received from Rajan credited to Rajesh
- Withdrawal by proprietor debited to establishment charge
- Purchase book is under cast
- ____________ is a temporary account opened to make trial balacne agree.
- P and L account
- Discount account
- Suspense account
- None of these
- How many Articles are there in the original Indian Constitution?
- 385
- 390
- 395
- 405
- Which constitutional amendment omitted the right to property from fundamental rights in India?
- 42nd
- 43rd
- 44th
- 45th
- In which part of Indian Constitution the Fundamental Rights are included?
- 1st
- 2nd
- 3rd
- 4th
- Kerala government's Sukrutham programme is related to ___________
- Free cancer treatment
- Prevent epidemics among migrant labourers
- Free dialysis for poor
- Welfare of differently abled
- Which Indian Prime Minister started the Indira Gandhi Awas Yojana (IGAY)?
- Indira Gandhi
- Narasimha Rao
- Manmohan Singh
- Rajiv Gandhi
- Antyodaya Anna Yojana (AAY) was started in __________
- A. D. 1995
- A. D. 2000
- A. D. 2005
- A. D. 2010
- In which Ashram Swami Agamananda belonged?
- Siddha Ashram
- Ramakrishna Advaita Ashram
- Ananda Ashram
- None of these
- Where did Chattampi Swamikal attain Samadhi?
- Kannamula
- Alathur
- Kottayam
- Panmana
- The first annual session of S.N.D.P. was held at _____________
- Aruvippuram
- Kaladi
- Aluva
- Varkala
- What was the main slogan of Yogakshema Sabha in its early days?
- Make Namboodiri a human being
- Modernise Namboodiri women
- Eradicate untouchability
- Open up temples to lower castes
- Who was the leader of Savarna Jatha organized in connection with Vaikkam Satyagraha?
- K. P. Kesava Menon
- K. Kelappan
- Parameswaran Pillai
- Mannathu Padmanabhan
- Which among the following work is not written by Kumaran Asan?
- Prarodanam
- Vilapam
- Karuna
- Sribuddhacharitam
- In which year T. M. Appu Nedungadi's Kundalatha published?
- 1885
- 1886
- 1887
- 1888
- Who wrote the book Treatment of Tiyyas in Travancore?
- Dr. Palpu
- Kumaran Asan
- T. K. Madhavan
- Sree Narayana Guru
- Who is the only Malayali mentioned in Gandhi's autobiography?
- K. Kelappan
- G. P. Pillai
- Sree Narayana Guru
- T. K. Madhavan
- Who was the founder editor of the magazine Yukthivadi?
- C. Krishnan
- Ayyankali
- Swadeshabhimani Ramakrishna Pillai
- Sahodaran Ayyappan
- Who wrote the novel Vishakanyaka?
- S. K. Pottakkad
- Vaikkam Muhammed Basheer
- Takazhi Sivasankara Pillai
- Kesava Dev
- Which country won the FIFA World Cup-2014?
- Argentina
- Brazil
- France
- Germany
- The 9th Indian Premier League (IPL) was won by __________
- Chennai Super Kings
- Banglore Royal Challengers
- Sunrisers Hyderabad
- Kolkata Knight Rider
- Which Chundan won the 65th Nehru Trophy Boat race in 2017?
- Payippadan
- Gabriel
- Karichal
- Mahadevikkad Kttilthekkethil
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