[UKPSC] Uttarakhand Assistant Accountant Solved Question Paper 2016 [English Medium]

Also Read: UKPSC Assistant Accountant Exam Solved Question Papers [Hindi Medium]

👉UKPSC Assistant Accountant Solved Question Paper 2016

6. Under which act taxes due to the government are preferential liability:

(A) Provincial Insolvency Act.

(B) Presidency Towns Insolvency Act.

(C) Both of the above.

(D) None of the above.

Ans: (C) Both of the above.

7. Under Presidency Towns Insolvency Act 1909, salary due to a clerk is a preferential liability to the extent of:

(A) Rs. 200.

(B) Rs. 100.

(C) Rs. 20.

(D) Rs. 300.

Ans: (D) Rs. 300.

8. If Clerks salary is more than the preferential limit, then the excess amount is included in:

(A) Unsecured Creditor.

(B) Preferential Creditor.

(C) Fully Secured Creditor.

(D) Partly Secured Creditor.

Ans: (A) Unsecured Creditor.

9. While preparing Statement of Affairs Book Debts are shown under:

(A) List ‘A’.

(B) List ‘E’.

(C) List ‘F’.

(D) List ‘G’.

Ans: (C) List ‘F’.

10. Depreciation on the Fixed Assets should be allocate to the concerned departments on the basis of:

(A) Weight of the Fixed Assets.

(B) Value of the Fixed Assets.

(C) Space occupied by the Fixed Assets.

(D) None of the above.

Ans: (B) Value of the Fixed Assets.

11. Goods supplied by the Head Office but not received by Branch till the closing date, is called:

(A) Goods in Transit.

(B) Loss in Transit.

(C) Goods Returned by Branch.

(D) Profit in Transit.

Ans: (A) Goods in Transit.

12. In case of foreign branches, the remittances to and from head office should be converted at:

(A) Opening Rate.

(B) Closing Rate.

(C) Actual Rate at which the remittances were made.

(D) Average Rate.

Ans: (C) Actual Rate at which the remittances were made.

13. In case of Independent Branch, Branch A/c maintained by Head Office is of the nature of:

(A) Personal A/c.

(B) Read A/c.

(C) Nominal A/c.

(D) Adjustment Nature.

Ans: (A) Personal A/c.

14. As per Cost Concept, assets are always on:

(A) Market price.

(B) Purchase price.

(C) Current price.

(D) Lowest of the above.

Ans: (B) Purchase price.

15. Accounting Standard – 19 is related with:

(A) Leases.

(B) Intangible Assets.

(C) Investments.

(D) Cash Flow.

Ans: (A) Leases.

16. If rate of interest is not given but amount of installment is equal and period of installment is also equal, amount of interest included in the installments will be calculated by:

(A) Annuity method.

(B) Product method.

(C) Inverse Ratio Method.

(D) None of the above.

Ans: (C) Inverse Ratio Method.

17. In case of hire-purchase, Asset Account is debited by:

(A) Hire Purchase Price.

(B) Cost Price to the seller.

(C) Cash Price.

(D) Cost Price to Purchaser.

Ans: (C) Cash Price.

18. Which of the following errors does not affect the Trial Balance?

(A) Wrong balancing of an account.

(B) Writing an amount in the wrong account but on the correct side.

(C) Wrong totaling of an account.

(D) None of these.

Ans: (B) Writing an amount in the wrong account but on the correct side.

19. Capital expenditures are those expenses:

(A) Which are incurred on the business activities?

(B) Which are incurred on repair of the present asset?

(C) Which are incurred on the purchase of fixed assets?

(D) All of the above.

Ans: (C) Which are incurred on the purchase of fixed assets?

20. If unexpired insurance appears in trial balance, it should be:

(A) Debited to the trading account.

(B) Credited to the profit and loss account.

(C) Debited to the profit and loss account.

(D) Shown on the assets side of the balance sheet.

Ans: (D) Shown on the assets side of the balance sheet.

[Hint: Unexpired expenses are assets hence debited. Unexpired insurance are also known as prepaid expenses or expenses carried forward]

21. Bonus given to employees is recorded in:

(A) Trading a/c.

(B) Profit & Loss a/c.

(C) Profit & Loss appropriation.

(D) None of the above.

Ans: (B) Profit & Loss a/c.

[Hint: Bonus to partners is an appropriation hence debited in profit and loss appropriation account. Bonus to employees is a charge hence debited to profit and loss account.]

22. An outstanding salary of a manager is an item to be included in which creditors:

(A) Unsecured.

(B) Fully secured.

(C) Preferential creditors.

(D) Partly secured creditors.

Ans: (A) Unsecured.

23. Who is known as father of Book-Keeping?

(A) Institute of Chartered Accountants of India.

(B) American Institute of certified Public Accountants.

(C) Lucas Pacioli.

(D) R.N. Anthony.

Ans: (C) Lucas Pacioli.

24. Dual aspect concept result in the accounting equation:

(A) Assets-Owner’s equity.

(B) Assets-Outside Liabilities.

(C) Assets-Internal Liabilities.

(D) Assets-Outside Liabilities = Owner’s equity.

Ans: (D) Assets-Outside Liabilities = Owner’s equity.

25. The Presidency Towns Insolvency act applies in:

(A) Delhi, Kolkata, Mumbai.

(B) Delhi, Mumbai and Chennai.

(C) Delhi, Mumbai, Kolkata and Chennai.

(D) Mumbai, Kolkata and Chennai.

Ans: (C) Delhi, Mumbai, Kolkata and Chennai.

26. The cash and credit sales of the branch are Rs. 50,000 and Rs. 1,50,000 respectively. The amount received from debtors in Rs. 1,50,000. The amount to be credited to branch account under debtors method will be:

(A) Rs. 3,50,000.

(B) Rs. 2,00,000.

(C) Rs. 1,00,000.

(D) Rs. 1,50,000.

Ans: (B) Rs. 2,00,000.

27. Erection expenditure of new plant is:

(A) Revenue expenditure.

(B) Capital expenditure.

(C) Capital Loss.

(D) Revenue Loss.

Ans: (B) Capital expenditure.

28. Cost of Inventory includes:

(A) Interest.

(B) Taxes and Freight in words.

(C) Insurance.

(D) Godown Rent.

Ans: (B) Taxes and Freight inwards.

29. Royalty earned is recognised as:

(A) On accrual basis.

(B) On cost basis.

(C) On hybrid basis.

(D) None of the above.

Ans: (A) On accrual basis.

30. In case of non-agreement of Trial Balance the amount is temporarily put to:

(A) Debtors a/c.

(B) Creditors a/c.

(C) Stock a/c.

(D) Suspense a/c.

Ans: (D) Suspense a/c.

31. Royalty payable account is in the nature of:

(A) Personal a/c.

(B) Real a/c.

(C) Nominal a/c.

(D) Representative a/c.

Ans: (C) Nominal a/c.

32. The system of recording transactions based on dual concept is called:

(A) Double account system.

(B) Double Entry system.

(C) Single entry system.

(D) None of the above.

Ans: (B) Double Entry system.

33. Which of the following is not basic assumption of Accounting?

(A) Separate business entity assumption.

(B) Going concern assumption.

(C) Money measurement assumption.

(D) Profitability assumption.

Ans: (D) Profitability assumption.

34. For the assessment year 2015-2016 maximum rate of Income tax for an individual is:

(A) 10%.

(B) 20%.

(C) 30%.

(D) 40%.

Ans: (D) 40%.

35. Reason for the difference in pass book balance and cash balance is:

(A) Cheque deposited but not collected.

(B) Interest earned but not recorded in cash book.

(C) Bank charges charged by bank but not recorded.

(D) All of the above.

Ans: (D) All of the above.

36. Journal entry made to correct the mistake are known as:

(A) Opening entry.

(B) Adjusting entry.

(C) Rectifying entry.

(D) Closing entry.

Ans: (C) Rectifying entry.

37. Under casting of sales book is concerned by:

(A) Debiting sales book.

(B) Crediting sales book.

(C) Debiting purchase book.

(D) Crediting purchase book.

Ans: (B) Crediting sales book.

[Hint: Undercast means amount is under recorded. So as to increase the amount the respective account is debited if it shows debit balance and credited if it shown credit balance. Sales account shows credit balance hance it is credite.]

38. Current Assets – Current Liabilities = ?

(A) Working Capital.

(B) Paid up Capital.

(C) Authorized Capital.

(D) None of the above.

Ans: (A) Working Capital.

39. Sub-lease may be granted by:

(A) Original Land Lord.

(B) Original Lessee.

(C) Any one of the above.

(D) None of the above.

Ans: (B) Original Lessee.

40. Short working A/c is opened in the books of:

(A) Land Lord.

(B) Lessee.

(C) Both of above.

(D) None of the above.

Ans: (B) Lessee.

41. Use of FIFO method is suitable:

(A) At rising prices.

(B) At Falling prices.

(C) At constant prices.

(D) In all above conditions.

Ans: (B) At Falling prices.

42. If the original cost of an assets is Rs. 1,00,000/-, scrap value Rs. 10,000/- and life is 5 years than depreciation by straight line method will be:

(A) 20,000.

(B) 18,000.

(C) 22,000.

(D) 16,000.

Ans: (B) 18,000.

43. Depreciation occurs because of:

(A) Time factor.

(B) Material utilization.

(C) Consumption of assets.

(D) All of the above.

Ans: (D) All of the above.

44. Which of the following is a capital expenditure?

(A) Prepaid Insurance.

(B) Outstanding Insurance.

(C) Purchase of new machine.

(D) All of the above.

Ans: (C) Purchase of new machine.

45. Which of the following asset is immune of depreciation?

(A) Motor Car.

(B) Land.

(C) Building.

(D) Aeroplane.

Ans: (B) Land.

46. Which of the following is not a indirect tax?

(A) Central Sales Tax.

(B) Central Excise Duty.

(C) Central Value Added Tax.

(D) Income Tax.

Ans: (D) Income Tax.

47. Which of the following does not belong to debit side of trial balance?

(A) Building.

(B) Debtors.

(C) Creditors.

(D) Purchase.

Ans: (C) Creditors.

48. Valuation of Inventory based upon:

(A) AS 6.

(B) AS 10.

(C) AS 3.

(D) AS 2.

Ans: (D) AS 2.

49. Cash books is-

(A) Journal.

(B) Voucher.

(C) Ledger.

(D) None of the above.

Ans: (A) Journal.

50. The object of a trial balance is to check the correctness of a _______:

(A) Journal.

(B) Ledger.

(C) Final a/c.

(D) List of Personal a/c.

Ans: (B) Ledger.

51. Income received is advance is:

(A) An assets.

(B) An income.

(C) An expenses.

(D) A Liabilities.

Ans: (D) A Liabilities.

52. If stock turnover ratio is 6 times average stock = Rs. 8,000 selling price = 25% above cost what is the amount of gross profit:

(A) Rs. 2,000.

(B) Rs. 12,000.

(C) Rs. 4,000.

(D) Rs. 10,000.

Ans: (B) Rs. 12,000.

53. ‘Skimming’ in e-banking refers to:

(A) Identifying fraudsters copying vital information from credit cards.

(B) Multiple transactions by one credit card.

(C) Conversion of a debit card into credit card.

(D) None of the above.

Ans: (A) Identifying fraudsters copying vital information from credit cards.

54. What is economics order quantity?

(A) Cost of an order.

(B) Cost of stock.

(C) Re-order level.

(D) Optimum order size.

Ans: (C) Re-order level.

55. At present a person is 4 times older than his son and is 3 years older than his wife, after 3 years the age of the son will be 15 years. The age of the person’s wife after 5 years will be:

(A) 40.

(B) 45.

(C) 50.

(D) 55.

Ans: (C) 50.

56. According to the cost concept that the assets are always valued at:

(A) On Cost Price.

(B) On Market Price.

(C) On Purchase Price.

(D) None of the above.

Ans: (C) On Purchase Price.

57. Under Income Tax act depreciation is allowed on:

(A) Purchase Price.

(B) Market Value.

(C) Written down value.

(D) Face Value.

Ans: (C) Written down value.

58. The maximum amount for deduction of entertainment allowance to Government employees as per Income Tax act is:

(A) Rs. 5,000.

(B) Rs. 7,500.

(C) 20% of Salary.

(D) Not at all.

Ans: (A) Rs. 5,000.

59. Outstanding Expenses are recorded in:

(A) Trading A/c.

(B) Profit & Loss A/c.

(C) Profit and Loss Appropriation A/c.

(D) Profit and Loss A/c and Balance Sheet.

Ans: (D) Profit and Loss A/c and Balance Sheet.

60. _______ is created for unknown liability:

(A) Provision for taxation.

(B) Reserve for bad debts.

(C) Reserve.

(D) Provision.

Ans: (D) Provision.

61. On seizer of the goods by the hire vendor, the balance in the asset account is transferred to:

(A) Profit and Loss a/c.

(B) Hire Vendor’s a/c.

(C) Goods Repossessed a/c.

(D) None of the above.

Ans: (B) Hire Vendor’s a/c.

62. When a hire purchaser gets title under Hire Purchase System?

(A) Immediately after signing the contract.

(B) On first payment.

(C) On paying last installment.

(D) When Vendor desire.

Ans: (C) On paying last installment.

63. Tax deducted at source appears in the Balance Sheet:

(A) On the assets side under current assets.

(B) On the assets side under loans and advances.

(C) On the liabilities side under current liabilities.

(D) On the liabilities side under provision.

Ans: (A) On the assets side under current assets.

64. Goods costing Rs. 12,000 were damaged. Insurance company admitted claim for Rs. 10,500 Profit and Loss account will be debited with:

(A) Rs. 12,000.

(B) Rs. 10,500.

(C) Rs. 22,500.

(D) Rs. 1,500.

Ans: (D) Rs. 1,500.

65. Which of these accounts show credit balance?

(A) Capital A/c.

(B) Sales A/c.

(C) Rent A/c.

(D) All of these.

Ans: (A) Capital A/c.

66. The balance of Purchase Return books is always:

(A) Debit.

(B) Debit or Credit.

(C) Credit.

(D) Neither debit nor credit.

Ans: (C) Credit.

67. Which of the following account will be credited on giving goods in donation?

(A) Sales A/c.

(B) Purchase A/c.

(C) Donation A/c.

(D) Cash A/c.

Ans: (B) Purchase A/c.

68. Meaning of Double Entry System of Book-Keeping is:

(A) Two entries in one book.

(B) Two entries in one account.

(C) Entry of both sides of one transactions.

(D) Entry in two personal accounts.

Ans: (C) Entry of both sides of one transactions.

69. According to which accounting concept, financial statements must disclose all the relevant information?

(A) Materiality Concept.

(B) Dual Aspect Concept.

(C) Full Disclosure Concept.

(D) Consistency Concept.

Ans: (C) Full Disclosure Concept.

70. Accounting Standards are:

(A) A policy document.

(B) A code conduct.

(C) Both.

(D) None of these.

Ans: (C) Both.

71. For a sole trader, income tax is a:

(A) Business expenses.

(B) Personal expenses.

(C) Provision for expenses.

(D) All of the above.

Ans: (B) Personal expenses.

72. ‘RTGS’ stands for:

(A) Real Time Grab Settlement.

(B) Real Time Gross Settlement.

(C) Role Time Gross Settlement.

(D) Real Table Gross Settlement.

Ans: (B) Real Time Gross Settlement.

73. What is the full form of NEFT?

(A) National electric fund transmission.

(B) National electric fund transmission.

(C) National electric fund transfer.

(D) National electronic fund transfer.

Ans: (D) National electronic fund transfer.

74. OTP is allowed during verification of account and it stands for:

(A) Online traced password.

(B) One time password.

(C) Only time being password.

(D) Online trend password.

Ans: (B) One-time password.

75. ‘EFT’ stands for:

(A) Electronic fund transformation.

(B) Electronic file transfer.

(C) Electronic fund transfer.

(D) Electrical fund transformation.

Ans: (C) Electronic fund transfer.

76. When was www (World Wide Web) developed?

(A) 1970.

(B) 1984.

(C) 1990.

(D) 1989.

Ans: (D) 1989. [Tim Berners-Lee, a British scientist, invented the World Wide Web (WWW) in 1989, while working at CERN.]

77. Which of the following is one to one electronic fund settlement system?

(A) RTGS.

(B) NEFT.

(C) ECS Credit.

(D) ECS Debit.

Ans: (B) NEFT.

78. Which of the following is the largest community in classification of e-commerce?

(A) B2B.

(B) B2C.

(C) B2G.

(D) G2G.

Ans: (A) B2B.

79. Plastic Money means:

(A) Debit Card.

(B) Credit Card.

(C) Both of the above.

(D) None of above.

Ans: (C) Both of the above.

80. Which command is to be given to print a Document at Keyboard?

(A) Control + P.

(B) Control + S.

(C) Control + N.

(D) Control + Z.

Ans: (A) Control + P.

81. The part which process data in a computer named as:

(A) CPU.

(B) UPS.

(C) RAM.

(D) All of the above.

Ans: (A) CPU.

82. LAN is written as:

(A) Light Area Network.

(B) Local Area Network.

(C) Local Active Network.

(D) None of the above.

Ans: (B) Local Area Network.

83. E-mail is related to:

(A) Economic mail.

(B) Electric mail.

(C) Entry mail.

(D) Electronic mail.

Ans: (D) Electronic mail.

84. Computer virus is a:

(A) Hardware.

(B) Bacteria.

(C) Software.

(D) None of these.

Ans: (C) Software.

85. LCD in named as:

(A) Light Crystal Diode.

(B) Liquid Crystal Diode.

(C) Liquid Crystal Display.

(D) Liquid Crystal Dynamo.

Ans: (C) Liquid Crystal Display.

86. How many digits are required to form a ‘IFCS’ code?

(A) 9.

(B) 10.

(C) 11.

(D) 12.

Ans: (C) 11.

87. Which of the following represent C2C commerce?

(A) Amazone.com.

(B) Ebay.com.

(C) Microsoft.

(D) Facebook.com.

Ans: (B) Ebay.com.

88. Which of the following is the fastest in Funds Transfer?

(A) NEFT.

(B) IMPS.

(C) RTGS.

(D) AEPS.

Ans: (C) RTGS.

89. Account which represents owner of the business is:

(A) Capital A/c and Drawing A/c.

(B) Creditors A/c.

(C) Furniture A/c.

(D) Sales A/c.

Ans: (A) Capital A/c and Drawing A/c.

90. In diminishing balance method, depreciation is calculated on:

(A) Opening balance.

(B) Written down value.

(C) Market price.

(D) Original cost.

Ans: (B) Written down value.

91. In which year the Provincial Insolvency Act implemented?

(A) 1909.

(B) 1920.

(C) 1925.

(D) 1930.

Ans: (B) 1920.

92. List “F” of statement of affairs is related to:

(A) Partly secured creditors.

(B) Bill of exchange & promissory notes.

(C) Preferential creditors.

(D) None of these.

Ans: (D) None of these. (Preference shares)

93. In which year the Hire Purchase Act implemented:

(A) 1932.

(B) 1956.

(C) 1972.

(D) 1872.

Ans: (C) 1972.

94. In which year 14 Banks were nationalised?

(A) 1969.

(B) 1971.

(C) 1973.

(D) 1977.

Ans: (A) 1969.

95. Which of the following statement is true?

(A) Accounting & Book Keeping are synonymous.

(B) Book Keeping & Accounting are complementary to each other.

(C) Accounting starts from where Book Keeping ends.

(D) Both (B) and (C).

Ans: (D) Both (B) and (C).

96. Rent account is:

(A) Real A/c.

(B) Personal A/c.

(C) Nominal A/c.

(D) None of above.

Ans: (C) Nominal A/c.

97. Which is not current liability in the following?

(A) Bank-overdraft.

(B) Provision for Bad-debts.

(C) Redeemable debtors.

(D) None of above.

Ans: (C) Redeemable debtors.

98. The dividend declared in the mid of year is called:

(A) Interim Dividend.

(B) Unclaimed Dividend.

(C) Final Dividend.

(D) None of above.

Ans: (A) Interim Dividend.

99. The meaning of indirect cost is:

(A) Indirect Material + Indirect Labour + Indirect Expenditure.

(B) Prime Cost + Overhead.

(C) Material + Labour + Expenditure.

(D) Prime Cost + Factory Overhead.

Ans: (A) Indirect Material + Indirect Labour + Indirect Expenditure.

100. The head office of R.B.I. is situated in:

(A) Mumbai.

(B) Kolkata.

(C) Delhi.

(D) Chennai.

Ans: (A) Mumbai.

For More Details, Visit Official website of UKPSC Sahayak Lekhakar (Assistant Accountant) Official Website

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