LAB TECHNICAL ASSISTANT JANUARY 21,2015

LAB TECHNICAL ASSISTANT

RECEPTION,BOOK KEEPING& COMMUNICATION,VHSE

EXAM DATE:21-01-2015

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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