Online Tests for Accounting & Finance for Bankers

Accounting & Finance for Bankers

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  • Q - 1 . Receipts and payments statement shows

    Q - 2 . 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 - 3 . Any facts, observations, occurrences are called -----

    Q - 4 . A, B and C share profits as 3:2:1. C retires. Calculate the gain ratio of A and B

    Q - 5 . The scheduled banks are required by RBI to transfer at least ______ of their disclosed profit after adjustment/provision towards bonus to staff

    Q - 6 . Noting charges are

    Q - 7 . Which of the following is not a deferred revenue expenditure

    Q - 8 . Select the correct statement in respect of doubtful debts

    Q - 9 . 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 - 10 . In banking company, matured term deposit to be shown under-----

    Q - 11 . 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 - 12 . Identify a pair which is mismatch from the following pairs in respect of Company Accounts

    Q - 13 . 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 - 14 . Following are the journal during the process of application to allotment stage . One of the entries is wrong. Select the wrong entry.

    Q - 15 . Select the incorrect statement in respect of form of balance sheet of companies ( Asset side).

    Q - 16 . 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 - 17 . Which of the following is true for leasing and hire purchase

    Q - 18 . One of the items is a misfit in a group namely  other income of a banking company. Select this item from the following

    Q - 19 . Income for the year = I, Outstanding Income for previous year = Id, Outstanding Income of current year = Idi, then Receipts for the year is

    Q - 20 . 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.

    Q - 21 . Below are some statements about partnership. One of them is correct, identify that statement.

    Q - 22 . Select the incorrect statement

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

    Q - 24 . A company wishes to pay dividend on shares. State which of the following may be used for the purpose.

    Q - 25 . Select the incorrect statement in case of Share Capital and Reserves and Surplus as shown in the balance sheet.

    Q - 26 . Freight expenses for moving new machinery to factory is

    Q - 27 . 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 - 28 . One of the statements in respect of Profit & Loss Adjustment account is incorrect, rest are correct. Mark the incorrect sentence.

    Q - 29 . In comparing lease & hire purchase (H P) Of the following which one is not true?

    Q - 30 . Which of the following is most desirable 1000/- sold for 1200/- is entered in sales register. The rectification is

    Q - 31 . Select the incorrect statement in respect of  financial Statements of Banks

    Q - 32 . Due to heavy flooding a truck carrying consignment goods sinks. This loss is called

    Q - 33 . Select the incorrect statement in respect of utilization of share premium

    Q - 34 . Which of the following is true

    Q - 35 . Select from the following a sentence which is wrong

    Q - 36 . If the adjustment in the values of assets at the time of the admission of a partner shows a profit, it should be credited to the capital accounts of-----

    Q - 37 . Select the incorrect statement in respect of form of balance sheet of companies(Liabilities side).

    Q - 38 . One of the accounts is wrongly debited to  Profit and Loss Appropriation A/c of a company. Name the wrong account debited

    Q - 39 . Goods worth Rs.2000 sold to Vijay was entered in purchase account; The rectification is

    Q - 40 . For an expense to be classified as revenue or capital depends on

    Q - 41 . Which of the following is true

    Q - 42 . One of the accounts is wrongly grouped under the head  Investments while preparing the balance sheet of the company. Single out

    Q - 43 . From the account given below, select the account which is wrongly included in Profit & Loss Appropriation Account at the debit side

    Q - 44 . The list given below consists of various securities. Identify the security which is SLR security

    Q - 45 . The investment under held to maturity should not exceed _____ of banks total investment

    Q - 46 . 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 - 47 . If the partners capital accounts are fixed, where will you record (either debit side or credit side of which account ) the following transactions (i) Salary payable to partner (ii) Fresh capital introduced by a partner (iii) Drawing made by a partner (iv) Share of profit earned by a partner. The effect to one of the journal entries is wrongly given. Identify that account from the following

    Q - 48 . 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 - 49 . In operating lease the period is

    Q - 50 . On the retirement of the partner, the profits on revaluation of assets should be credited to the accounts of-----

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