Online Tests for Accounting & Finance for Bankers

Accounting & Finance for Bankers

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  • Q - 1 . Goods worth Rs.2000 sold to Vijay was entered in purchase account; The rectification is

    Q - 2 . One of the statements in respect of Profit & Loss Adjustment account is incorrect, rest are correct. Mark the incorrect sentence.

    Q - 3 . Select the false statement in respect of banking

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

    Q - 5 . 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 - 6 . On the retirement of the partner, the profits on revaluation of assets should be credited to the accounts of-----

    Q - 7 . Choose the wrong pair from the following. The information given in the pair is pertaining to banking companies

    Q - 8 . Which of the following is true

    Q - 9 . Opening balance of asset = Oi, Closing balance of asset = Oc, Depn. = D, Then addition to the asset during the year is

    Q - 10 . Which of the following is true

    Q - 11 . Suspense a/c is not used in which of the following cases.

    Q - 12 . When a new partner gives cash for goodwill, the amount is credited to____

    Q - 13 . 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 - 14 . 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 - 15 . Which of the following are true

    Q - 16 . The scheduled banks are required by RBI to transfer at least ______ of their disclosed profit after adjustment/provision towards bonus to staff

    Q - 17 . Select the incorrect statement

    Q - 18 . 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 - 19 . The financial statement of bank consists of ________ schedules

    Q - 20 . Which of the following is not a deferred revenue expenditure

    Q - 21 . 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 - 22 . Choose the sentence which speak about illegal association

    Q - 23 . 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) Provide dividend 5% of paid up share capital (Share capital of Rs. 5,00,000 consisting of shares of Rs. 10 each fully paid) (ii) Insurance for unexpired period is Rs.2000 (iii) A provision of Rs. 25,000 is to be made for income tax (iv) a provision of Rs. 5000 is to be made for doubtful debts

    Q - 24 . One of the items is a misfit in a group namely  other income of a banking company. Select this item from the following

    Q - 25 . Which of the following is not true

    Q - 26 . Liability for partially paid investments in respect of banking companies is grouped under the head________

    Q - 27 . 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 - 28 . A and B are two partners in a firm sharing profits and losses as 2:1. they admitted C as a partner with 25% share in the profits of the firm. Hence , the new profit sharing ratio , after admission of C would be _______

    Q - 29 . Which of the following is true for leasing and hire purchase

    Q - 30 . The two portion of each pair relating to admission of a partner has got some relationship. However one of the pairs is mismatch and has no relationship. Select this pair from the following

    Q - 31 . Noting charges are

    Q - 32 . In comparing lease & hire purchase (H P) Of the following which one is not true?

    Q - 33 . Mr. X was issued 100 shares of Rs.10 each. He failed to pay call money of Rs. 5 per share. The shares were forfeited and re-issued to Mr. Y at Rs.9. When the entry recording the re-issue of shares was passed in all, four accounts were affected. The debit and credit effect of these four accounts is given below. One of the accounts is given wrong effect. Select that account from the following.

    Q - 34 . 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 - 35 . From the account given below, select the account which is wrongly included in Profit & Loss Appropriation Account at the debit side

    Q - 36 . For a Non- Trading Organization, a P & L A/c called an Income & Expenditure A/c because.

    Q - 37 . A firm earns Rs.10,000 as its normal profits. The rate of normal return being 10%. The assets of the firm amount to Rs.72,000 and liabilities to Rs.24,000. Find out the value of goodwill.

    Q - 38 . Select from the following , a statement which speaks about liabilities of an entity.

    Q - 39 . Select the True statement from the following

    Q - 40 . Select the correct statement in respect of doubtful debts

    Q - 41 . In LIFO method of inventory valuation

    Q - 42 . Machinery worth (WDV) 1000/- sold for 1200/- is entered in sales register. The rectification is

    Q - 43 . Due to heavy flooding a truck carrying consignment goods sinks. This loss is called

    Q - 44 . Investments, Advances, Fixed Assets and other Assets are part of Schedule Nos.--respectively

    Q - 45 . Which of the following is most desirable 1000/- sold for 1200/- is entered in sales register. The rectification is

    Q - 46 . Which of the following is false

    Q - 47 . A, B and C share profits as 3:2:1. C retires. Calculate the gain ratio of A and B

    Q - 48 . In sum of digits method for 5 years which of the following is the 1st year s allocation ratio

    Q - 49 . Following are the journal during the process of application to allotment stage . One of the entries is wrong. Select the wrong entry.

    Q - 50 . Which of the following is true

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