26 January 2016

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LAB TECHNICAL ASSISTANT JANUARY 21,2015

LAB TECHNICAL ASSISTANT
RECEPTION,BOOK KEEPING& COMMUNICATION,VHSE

EXAM DATE:21-01-2015
1.Book-keeping is mainly concerned with:
A.Collection of data
B.Recording of financial data relating to business operations*
C.Designing the systems in recording ,classifying,summarizing the recorded data
D.Interpreting the data for internal and external end users
Ans:B

2.Finding out the  difference between the totals of two sides of an account is called:
A.Journalizing
B.Balancing*
C.Posting
D.None of these
Ans:B
3.The primary function of accounting is to:
A.Interpret the financial data
B.Recording and classifying business operations*
C.Assist the management in performing functions effectively
D.Summarizing the financial data
Ans:B
4.--------provides data about the nature of transactions contained in it.
A.Cash book
B.Journal
C.Ledger
D.Source document*
Ans:D
5.The effect of debit is:
A.Increase in income
B.Increase in capital
C.Increase in liability
D.Increase in assets*
Ans:D
6.The debit balance of personal account shows:
A.Amount receivable*
B.Amount payable
C.Cash in hand
D.Amount of credit sales
Ans:A
7.Things which are purchased by the business for resale is called:
A.Assets
B.Liability
C.Goods*
D.Income
Ans:C
8.Cash discount allowed to a debtor should credited to:
A.Customer account*
B.Discount account
C.Sales account
D.Cash account
Ans:A
9.A person to whom something is owed is called:
A.Debtor
B.Creditor*
C.Owner
D.Bank
Ans:B
10.The statement shows the financial position of the business is:
A.Balance sheet*
B.Fund flow statement
C.Profit and loss account
D.Cash book
Ans:A
11.The term current assets does not include:
A.Cash
B.Advance payment
C.Furniture*
D.Stock-in-trade
Ans:C
12.The basic rule of ‘debit what comes in and credit what goes out’is applicable to
A.Real account*
B.Personal account
C.Nominal account
D.Expenses account
Ans:A
13.In case of debt becoming bad,the amount should be credited to:
A.Creditors account
B.Sales account
C.Debtors account*
D.Bad debts account
Ans:C
14.The credit balance in the bank account is:
A.An asset
B.Liability*
C.Revenue
D.Expense
Ans:B
15.A reserve is a charger against:
A.Capital
B.Asset
C.Profit*
D.Liability
Ans:C
16.The statement containing various ledger balances on a particular date is known
A.Trial balance*
B.Trading account
C.Profit and loss account
D.Balance sheet
Ans:A
17.The process of transferring journal entries to ledger account is called:
A.Journalizing
B.Balancing
C.Posting*
D.Classifying
Ans:C
18.Bank reconciliation statement is prepared by the:
A.Bank
B.Firm*
C.Creditor
D.Debtor
Ans:B
19.Window dressing is prohibited due to the convention of:
A.Accrual concept
B.Materiality*
C.Conservatism
D.Full disclosure
Ans:B
20.Provision for bad debt is made under the principle of:
A.Consistency
B.Full disclosure
C.Conservatism*
D.Materiality
Ans:C
21.A---------is sent to a customer when he returned the goods.
A.Credit note*
B.Debit note
C.Invoice
D.Cash memo
Ans:A
22.Assets of the business means:
A.Liabilities-capital
B.Cash+capital
C.Liabilities+capital*
D.Capital+drawings
Ans:C
23.Revenue is generally recognized as being earned at the point of time,when:
A.Sale is effected*
B.Production is complete
C.Cash is received
D.Purchase is effected
Ans:A
24.Stock in hand is:
A.A fixed asset
B.An intangible asset
C.An investment asset
D.A current asset*
Ans:D
25.Qualitative transactions are not recorded in the accounts due to:
A.Dual aspect concept
B.Accrual concept
C.Money measurement concept*
D.Matching principle
Ans:C
26.According to going concern concept,a business is viewed as having-------life.
A.A limited
B.An indefinite*
C.An annual
D.A very long
Ans:B
27.Goods outward journal is meant for recording all returns of goods---------on credit
A.Sold
B.Purchased*
C.Sent
D.None of these
Ans:B
28.Income tax paid by the sole proprietor on his business income should be:
A.Debited to the trading account
B.Debited to the profit and loss account
C.Deducted from the capital account in the balance sheet*
D.Deducted from the bank account of the business
Ans:C
29.Out standing salaries are shown as:
A.An asset
B.A liability*
C.An income
D.An expense
Ans:B
30.Goods given as sample should be credited to:
A.Advertisement account
B.Sales account
C.Purchase account*
D.Capital account
Ans:C
31.Assets which have no real value but are shown in the books of accounts on technical reasons are called:
A.Tangible assets
B.Intangible assets
C.Wasting assets
D.Fictitious assets*
Ans:D
32.Copy right is a ----------account,
A.Real account*
B.Personal account
C.Nominal account
D.Capital account
Ans:A
33.A short description of every transaction made in the journal is called:
A.Journal folio
B.Ledger folio
C.Narration*
D.Particulars
Ans:C
34.Proprietor of a business is treated as creditor to the extent of capital,is under the concept of:
A.Money measurement
B.Going concern
C.Dual aspect*
D.Business entity
Ans:C
35.Stock in trade does not include:
A.Work-in-progress
B.Raw materials
C.Items held as fixed assets*
D.Finished goods
Ans:C
36.The trial balance shows closing stock of Rs.20,000.It will be  recorded in:
A.Trading account
B.Profit and Loss account
C.Profit and loss appropriation account
D.Balance sheet*
Ans:D
37.Municipal tax of Rs.15,000 under dispute is a:
A.Contingent liability*
B.Current liability
C.Revenue loss
D.None of these
Ans:A
38.Suspense account Dr.Balance Rs.5000 in trial balance,will be recorded in the:
A.Liability side of the balance sheet
B.Asset side of the balance sheet*
C.Cr.Side of the P & L account
D.Dr.Side of the P & L account
Ans:B
39.A bank reconciliation statement is prepared to know the causes for the difference between:
A.The balances as per cash column of cash book and the pass book
B.The balances as per bank columns of cash book and pass book*
C.The balances as per bank column of cash book and cash column of cash book
D.None of these
Ans:B
40.Asset account will always have a:
A.Debit*
B.Credit
C.Either debit(or)credit
D.No balance
Ans:A
41.Trade discount--------appear in the books of account.
A.Will*
B.Will not
C.Will(or)will not
D.None of these
Ans:A
42.Credit purchase of furniture are recorded in:
A.Purchase day book
B.Sales day book
C.Journal proper*
D.None of the above
Ans:C
43.Cash discount is allowed by:
A.Wholesaler
B.Debtor
C.Creditor*
D.Retailer
Ans:C
44.Sales day book shows:
A.Total sales
B.Total credit sales*
C.Cash sales
D.Net sales
Ans:B
45.Petty cash book is prepaid under----------system.
A.Cash
B.Imprest*
C.Credit
D.Mercantile
Ans:B
46.Special journal is also called:
A.Journal proper
B.Subsidiary books*
C.Original books
D.Ledger
Ans:B
47.Rs.380 received from Roy is credited to his account as Rs.308,this error is called:
A.Compensating errors
B.Errors of principle
C.Errors of omission
D.Errors of commission*
Ans:D
48.Unexpired expenses is a:
A.Liability
B.Asset*
C.Income
D.Expense
Ans:B
49.Direct expenses are debited in the:
A.Balance sheet
B.Trial balance
C.Profit and loss account
D.Trading account*
Ans:D
50.When both the aspects of a transaction are posted in one account,such an entry is called:
A.Compound journal entry
B.Contra entry*
C.Multiple entry
D.Double entry
Ans:B
51.The books that record small payment of cash is called:
A.Journal
B.Ledger
C.Petty cash book*
D.Compound journal entry
Ans:C
52.Sales are equal to:
A.Cost of goods sold+profit
B.Cost of goods sold-profit*
C.Gross profit-cost of goods sold
D.None of these
Ans:B
53.Source document for purchase returns:
A.Debit note*
B.Credit note
C.Source note
D.Journal proper
Ans:A
54.In the case of overdraft,pass book will show a---------balance.
A.Credit balance
B.Debit balance*
C.Either debit balance or credit balance
D.No balance
Ans:B
55.Ordinary repairs debited to machinery account are an error of:
A.Compensating error
B.Error of commission
C.Error of omission
D.Error of principle*
Ans:D
56.Depreciation is the process of:
A.Valuation of asset
B.Appointment of the cost of the asset  over its useful life*
C.Maintenance of asset in a state of efficiency
D.Valuation of expense or cost
Ans:B
57.---------is a temporary account opened for making agree the trial balance for the preparation of final accounts.
A.Current A/c
B.Suspense A/c*
C.Personal A/c
D.Temporary A/c
Ans:B
58.Similar nature of transactions are grouped into one place is called:
A.Journal
B.Trial balance
C.Ledger*
D.Voucher
Ans:C
59.------is ascertained by preparing trading A/c.
A.Net profit
B.Gross profit*
C.Capital
D.Income tax
Ans:B
60.Written evidence for a payment of cash is called:
A.Journal
B.Cash book
C.Ledger
D.Voucher*
Ans:D
61.Allowance made for prompt payment is called:
A.Cash allowance
B.Cash discount
C.Trade discount*
D.Rebate
Ans:C
62.Heavy amount spent on advertisement is expenditure
A.Capital
B.Revenue
C.Deferred capital
D.Deferred revenue*
Ans:D
63.Trading account is a----------account.
A.Real
B.Personal
C.Nominal*
D.All of these
Ans:C
64.Capital expenditure is recorded in:
A.Balance sheet*
B.Profit and loss account
C.Trading account
D.Manufacturing account
Ans:A
65.In sole trader’s balance sheet,assets are arranged in the order of:
A.Permanency
B.Liquidity*
C.Priority
D.Flexibility
Ans:B
66.One sided errors----------affect the agreement of trial balance.
A.Will
B.Will not*
C.Some time
D.More or less
Ans:B
67.Drawing account is a----------account
A.Real
B.Personal*
C.Nominal
D.None of these
Ans:B
68.Carriage outward is debited to:
A.Trading account
B.P/L account*
C.Wages account
D.Balance sheet
Ans:B
69.In------------method,depreciation charged in the initial years will be more
A.Fixed cost
B.Annuity
C.Diminishing balance*
D.Depletion
Ans:C
70.The father of financial accounting:
A.Luca Paciolo*
B.Necolas Berg
C.Edward Johns
D.Henry Fayol
Ans:A
71.Loss of cash by theft committed by cashier after business hours is a:
A.Revenue loss
B.Financial loss
C.Capital loss
D.Business loss*
Ans:D
72.According to conservatism,the stock is valued at:
A.Cost price
B.Market price
C.Cost price or market price whichever is higher
D.Cost price or market price whichever is lower*
Ans:D
73.AAA stands for:
A.Accounts Appraisal Association
B.American Accounting Association*
C.American Association of Accountants
D.Asian Accountants Association
Ans:B
74.Goods taken for personal use by proprietor are credited to----------account.
A.Drawing*
B.Capital
C.Purchases
D.Sales
Ans:A
75.The term’Account Receivable’ includes:
A.Sundry debtors
B.Bill receivable
C.Promissory notes
D.All of these*
Ans:D
76.-----is the book of original entry
A.Journal*
B.Ledger
C.Invoices
D.Voucher
Ans:A
77.Trade discount allowed will be:
A.Debited*
B.Credited
C.Both(A) and (B)
D.Neither(A)nor(B)
Ans:A
78.GAAP stands for:
A.General Agreement on Accounting Principles
B.Generally Accepted Audit Procedures
C.Generally Accepted Accounting Programme
D.Generally Accepted Accounting Principles*
Ans:D
79.A petty cash book is aimed to:
A.Meet the needs of small businesses
B.Cover the small expenditure paid in cash*
C.Cover small and varied incomes
D.Cover both small income and expenditure
Ans:B
80.What is the correct sequence of the following in the preparation of Final account?
1.Preparation of balance sheet
2.Preparation of ledger accounts
3.Preparation of trial balance
4.Preparation of trading and P & L account
A.4,2,1,3
B.2,3,4,1*
C.2,4,3,1
D.1,2,3,4
Ans:B
81.The first meeting of the Indian National Congress was held at:
A.Calcutta
B.Bombay*
C.Pune
D.Nagpur
Ans:B
82.Who among the following is associated with the founding of the Indian National Army(Azad Hind Fouj)?
A.C.R.Das
B.Madan Mohan Malavya
C.Subhash Chandrabose*
D.Bhagat Singh
Ans:C
83.Total number of Assembly Constituencies in Kerala is:
A.140*
B.120
C.136
D.145
Ans:A
84.Which prominent social reformer of Kerala gave the charismatic slogan,’One caste,One religion and one God for man’?
A.Chattambi Swamikal
B.Ayyankali
C.Kumaran Asan
D.Sri.Narayana Guru*
Ans:D
85.The famous play ‘Adukkalayil –ninnu Arangathekku’was written by:
A.C.Kesavan
B.V.T.Bhattathirippad*
C.E.M.S.Namboothirippad
D.Balamani Amma
Ans:B
86.Which of the following is the biggest National Park in Kerala?
A.Eravikulam*
B.Silent Valley
C.Aanamudichola
D.Mathikettanchola
Ans:A
87.Which of the following became the first Governor General of Independent India?
A.Muhammad Ali Jinnah
B.Lord Mountbatten*
C.Dr.Rajendra Prasad
D.C.Rajagopalachari
Ans:B
88.The first rubber plantation in Kerala was planted at which of the following places?
A.Kanjirapally
B.Enthayar*
C.Ponkunnam
D.Changanacherry
Ans:B
89.The custom of ex-communicating Namboothiri women,if they associate themselves with someone out of their caste,is popularly known as:
A.Upanayanam
B.Pulappedi
C.Smartha Vicharam*
D.Samavarthanam
Ans:C
90.Gandhiji’s political career started with which of the following movements?
A.Non Co-Operation*
B.Civil Disobedience
C.Salt Satyagraha
D.Quit-India
Ans:A
91.The capital city of India,Delhi is situated on the banks of which river?
A.Satlej
B.Yamuna*
C.Ganga
D.Beas
Ans:B
92.How many times did the renound German car racer Michael Schumacher win the formula one car racing  championship?
A.5
B.6
C.7*
D.8
Ans:C
93.The person who is described as the ‘Missile Woman’of India is:
A.Mrs.Kiran Bedi
B.Mrs.Nirupama Rao
C.Mrs.Sreelekha IPS
D.Mrs.Tessy Thomas*
Ans:D
94.Who among the following acted as  the chairman of the drafting committee of the Indian constitution?
A.Dr.Rajendra Prasad
B.Sachidanand Sinha
C.K.M.Munshi
D.Dr.B.R.Ambedkar*
Ans:D
95.The famous Christian Pilgrim Centre at Bharanaganam in Kottayam District is associated with:
A.Blessed Chavara Kuriakose Elias
B.Blessed Alphonsa*
C.Blessed Sr.Euprasia
D.Mother Theresa
Ans:B
96.The religious sect named ‘Prathyaksha-Raksha Daivasabha’[PRDS]was founded  by:
A.Dr.Palpu
B.Thycaud Ayya
C.Pandit Karuppan
D.Poikayil Yohannan*
Ans:D
97.Which of the following Kerala river flows eastwards?
A.Pambar*
B.Karamanayar
C.Manimalayar
D.Neyyar
Ans:A
98.The ‘Mac-Mohan line’ is the dividing line between:
A.India and Afghanistan
B.India and Pakistan
C.India and China*
D.India and Bangladesh
Ans:C
99.Which Prime Minister of India announced the programme of ‘Garibi Hatao’[Remove Poverty]?
A.Jawaharlal Nehru
B.Indira Gandhi*
C.Morarji Desai
D.Narasimha Rao
Ans:B
100.Planning Commission of India came into existence in the year:
A.1950*
B.1951
C.1952
D.1956
Ans:A



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