Online Tests for Accounting & Finance for Bankers

Accounting & Finance for Bankers

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  • Q - 1 . Suspense a/c is not used in which of the following cases.

    Q - 2 . One of the pairs given below is wrong. Select the wrong pair.

    Q - 3 . The two portion of each pair relating to retirement of a partner has got some relationship. However one of the pair is mismatch and has no relationship. Select this pair from the following

    Q - 4 . The list given below consists of various securities. Identify the security which is SLR security

    Q - 5 . Cost of goods sold is

    Q - 6 . Advances given to a staff by a bank as a employer should be included in-----

    Q - 7 . If a share of Rs.10 issued at a premium of Rs.1 on which Rs.9 ( including premium) have been called and Rs.7( including premium) paid is forfeited, the capital account should be debited by_________

    Q - 8 . The provisional requirement for standard asset is-----

    Q - 9 . In comparing lease & hire purchase (H P) Of the following which one is not true?

    Q - 10 . Select the True statement from the following

    Q - 11 . Companies are required to transfer certain percentage of their profit after tax to reserves, to declare dividend. The various rates of transfer based on the rates of dividend are given below in pair. Select the wrong pair.

    Q - 12 . DT Ltd. issued shares of Rs.10 each at 10 % premium, payable on application Rs.2, on allotment Rs.3 (including premium), on first call Rs.2 and on final call Rs.4. One of the shareholders, applied for 100 shares but fail to pay allotment and first call money. At this stage, the said shares were forfeited. Select the account which was wrongly credited.

    Q - 13 . Select from the following a sentence which is wrong

    Q - 14 . Select the incorrect statement in case of Share Capital and Reserves and Surplus as shown in the balance sheet.

    Q - 15 . Depreciation on banks property is part of Operating Expenses. Some of the items included under this category are listed below. One of the expenses is wrongly included. Identify that item of expense.

    Q - 16 . Which of the following will not affect Trial Balance

    Q - 17 . The scheduled banks are required by RBI to transfer at least ______ of their disclosed profit after adjustment/provision towards bonus to staff

    Q - 18 . On the retirement of the partner, the profits on revaluation of assets should be credited to the accounts of-----

    Q - 19 . A and B sharing profits and losses in the ratio of 2:1. C is admitted as partner giving him 1/4 share. The new profit sharing ratio will be_____

    Q - 20 . If the net worth of the business is Rs.500, fixed assets are Rs. 500, current assets Rs.300, investments Rs.300, current liabilities Rs. Nil, what is the amount of claim to outsiders?

    Q - 21 . A, B and C are three partner sharing profits in the ratio of 3:1:1. C retires and his share is purchased by B. the new profit sharing ratio shall be-----

    Q - 22 . Goods lost in transit is

    Q - 23 . Identify a pair which is mismatch from the following pairs in respect of Company Accounts

    Q - 24 . Receipts and payments statement shows

    Q - 25 . Choose the correct treatment for premium paid on  Joint Life Policy when premium paid is treated as an expense.

    Q - 26 . The name of the accounts with the coverage of various items in building that account is given below. One of the items covered in on of the accounts is wrong. Select this account

    Q - 27 . Choose the wrong pair from the following. The information given in the pair is pertaining to banking companies

    Q - 28 . Due to heavy flooding a truck carrying consignment goods sinks. This loss is called

    Q - 29 . Select the false statement in respect of banking

    Q - 30 . A, B and C share profits as 3:2:1. C retires. Calculate the gain ratio of A and B

    Q - 31 . Sales return of amount Rs.1000 from Vijay was wrongly entered in purchase book. The rectification is

    Q - 32 . Which of the following is true

    Q - 33 . The list given below provides the close relationship between the items of each pair. One of the pairs has no such close relationship. Identify this pair.

    Q - 34 . Below are some statements about partnership. One of them is correct, identify that statement.

    Q - 35 . Select the incorrect statement in respect of calls in advance

    Q - 36 . Read the following four journal entries which are passed to consider revaluation of assets and liabilities at the time of admission of a partner. One of the journal entries is wrong, choose the entry which is wrong.

    Q - 37 . Select the incorrect sentence

    Q - 38 . The liability side of the balance sheet of ABC International Ltd. is showing following position: Paid up share capital Rs.25 Lakh ( 25,000 shares of Rs.100 each fully paid up)Share premium Rs.5 Lakh, Capital Reserve Rs. 3 Lakh, General Reserve Rs. 15 Lakh and Profit & Loss account Rs. 15 Lakh .It was decided to use minimum free reserve for issue of 1:1 bonus shares.. The accounts and the amount with which the account is debited are given below in sets. One of the set is correct. Select the same.

    Q - 39 . Which of the following is not true

    Q - 40 . The financial statement of bank consists of ________ schedules

    Q - 41 . Identify a pair which is mismatch from the following pairs in respect of Company Accounts

    Q - 42 . For a Non- Trading Organization, a P & L A/c called an Income & Expenditure A/c because.

    Q - 43 . Any facts, observations, occurrences are called -----

    Q - 44 . O and P are two partners sharing profits in the ratio of 7:3. They admit Q into partnership as a partner from 1st April 2006 on 3/7th share in the profit. What is the new profit sharing ratio

    Q - 45 . In operating lease the period is

    Q - 46 . In banking company, matured term deposit to be shown under-----

    Q - 47 . Which of the following is most desirable 1000/- sold for 1200/- is entered in sales register. The rectification is

    Q - 48 . Machinery worth (WDV) 1000/- sold for 1200/- is entered in sales register. The rectification is

    Q - 49 . While preparing the final accounts of the company, the adjustments [(i) to (iv)] are to be made by passing necessary entries. One of the entries passed is wrong entry. Select the wrong entry.(i) Depreciate plant ,WDV of which is Rs.3,30,000 at 15% (ii) Write off Rs.5,000 from Preliminary Expenses (iii) Half years debenture interest due (12% debentures of Rs. 3,00,000) (iv) a claim of Rs. 25,000 for workmens compensation is disputed by the company.

    Q - 50 . Mr. Q and Mr. R were partners of a firm sharing profit and losses in the ratio of 3:2. They take S into partnership. It was agreed that S will pay Rs.1,00,000 as his share of goodwill which will be retained in business and also bring Rs.3,00,000 as capital for one fourth share in the future profits. The book value of the stock was 41,000 but was to be revalued at Rs.50,000, Accountant has passed following entries, but Mr. Q feels that one of the entry is wrong. Select the wrong entry from the following.

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