Kerala PSC Accountant/Jr. Accountant/Accounts Assistant/Accounts Clerk-Various Companies/Corporations (082/2016) Mock Test

The maximum mark of the exam is 98. Each question carries a +1 mark and there is a negative marking of 1/3 for every wrong answer. The duration of the exam is 75 minutes. After this time your attended Exam answers submitted automatically whether you’re finished or not. The countdown timer in the top of the screen will display the remaining time available for you to complete the examination.

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The duration of the exam is 75 minutes.

ACCOUNTANT (082/2016)

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1. Which one of the following is true with regards to cash discount?

A) It is a discount given in cash

B) It is a reduction in face value

C) It is discount on price at sales

D) It is discount on prompt payment

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2. Who, among the following, is a associated with the term Marketing Myopia?

A) Theodore Levitt

B) Philip Kotler

C) Henry Ford

D) Taylor

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3. In which of the following pricing strategy, the marketer charge maximum price on introducing a new product?

A) Full Cost Pricing

B) Skimmed Pricing

C) Penetration Pricing

D) Going Rate Pricing

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4. _______ is the set of all products and items that a seller offers to sell.

A) Product Length

B) Product Line

C) Product Mix

D) Product width

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5. Which of the following do not fall under '4Ps' suggested by McCarthy?

A) Promotion

B) Product

C) Place

D) Perfection

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6. Which of the following concept says that the consumers will favour those products that are available widely at low cost?

A) Product Concept

B) Selling Concept

C) Production Concept

D) Marketing Concept

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7. In 'ABC' analysis of stock control, which of the following is true with regards to 'C' category goods?

A) They have no control

B) They have loose control

C) They have moderate control

D) They have strict control

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8. Which of the fallowing in the formula to calculate workers wage under Halsey Premium Plan?

A) T x R + % (S-T)R

B) (T-R) x % (S-T) R

C) T x R +% S (T-R)

D) T x R + % (S-T-R)

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9. It said that Batch Costing is an extension of _____ Costing.

A) Operation

B) Process

C) Job

D) Contract

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10. The smallest sub-unit of an organisation where cost collection is attempted is :

A) Cost Unit

B) Cost Center

C) Cost Department

D) Cost Element

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11. Zero Based Budgeting is related to whom of the following?

A) Ronald Reagan

B) Philip Kotler

C) Jimmy Carter

D) Gerald Ford

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12. In costing, the sum of direct material, direct labour and direct overheads are known as:

A) Prime Cost

B) Factory Cost

C) Cost of Product

D) Basic Cost

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13. Cost of abnormal idle time is:

A) Debited to Costing P&L Account

B) Credited to Production Account

C) Debited to Production Account

D) Credited to Costing P&L Account

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14. Which one of the following is an uncontrollable cause of material price variance?

A) Change in market price

B) Emergence purchase

C) Inefficient buying

D) Loss of discount

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15. Two or more products, with same importance, produced during a production process is known as:

A) Joint Product

B) Double Product

C) By-Product

D) Two Product process

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16. FIFO method is best suited when:

A) Prices are Falling

B) Prices are Fluctuating

C) Prices are almost Stable

D) Prices are Rising

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17. In costing ____ analysis is used primarily for control of spare parts.

A) VED

B) Cost

C) ABC

D) Need

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18. Which of the following is true with regards to 'Bin Card' ?

A) It records quantity only

B) None of these are true

C) It records value only

D) It records value and quantity

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19. Average Stock Level is calculated with which of the following formula?

A) Minimum Stock + Reorder quantity

B) Minimum Stock + (Reorder quantity x Reorder Time)

C) Minimum Stock + ¼ Reorder quantity

D) Minimum Stock + ½ Reorder quantity

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20. What is 'EOQ' if Consumption per Year is 600 Units, Carrying Cost is 20%, Ordering Cost is Rs.12.00 per order and Price/Unit is Rs. 20?

A) 600 Units

B) 700 Units

C) 650 Units

D) 760 Units

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21. Which of the following is/are true with regards to 'escalation clause'?

A) Not applicable when there is a Change in the utilization production factors

B) Both (It is associated with contract costing) and (Applicable when there is a change in the price of Labour and/or Material)

C) Applicable when there is a change in the price of Labour and/or Material

D) It is associated with contract costing

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22. Special Drawing Right (SDR) is related to which of the following institution?

A) IMF

B) WTO

C) GATT

D) IBRD

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23. In which year the LIC was formed?

A) 1979

B) 1956

C) 1964

D) 1962

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24. Which of the following institutions regulate Indian Money Market in India?

A) NBARD

B) RBI

C) SEBI

D) IRDA

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25. Which of the following institution was formed in India with the help of World Bank?

A) IFCI

B) ICICI

C) DFHI

D) IDBI

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26. Name the first mutual fund scheme offered in India:

A) UTI MF Scheme- 1

B) SBI Magnum Equity

C) HSBC Equity 5

D) Unit Scheme-64

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27. All, except one, given below belongs to a group. Find out one which does not belong to the group.

A) International Monetary Fund

B) The International Finance Corporation

C) The Multilateral Investment Guarantee Agency

D) The International Development Association

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28. RBI was established in which year?

A) 1938

B) 1935

C) 1948

D) 1945

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29. Of the following, which was the first Development Financial Institution started in India?

A) LIC HFL

B) NABARD

C) IDBI

D) IFCI

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30. Which of the following insurance company has reinsurance business?

A) LIC of India

B) Oriental Insurance Company Ltd

C) GIC of India

D) United India Insurance Company Ltd

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31. What is the meaning of the Latin word 'audire'?

A) To hear

B) To check

C) To note

D) To find

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32. Audit note book is maintained by whom?

A) Client's clerk

B) Audit clerk

C) Client

D) Auditor

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33. Which of the following statement is most suitable to an 'audit report'?

A) It is always a statutory report

B) It is a report of errors and frauds

C) It is a fault finding report of audit

D) It is an opinion of the Auditor

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34. As per Indian Companies Act 2013, Section 139, an individual auditor, on appointment shall hold the office for a term of:

A) 1 year

B) 4 years

C) 10 years

D) 5 years

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35. On completion of an audit, Audit Working Papers are:

A) Returned to the Client

B) Retained by the Auditor

C) Destroyed immediately

D) Submitted along with audit report

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36. Which of the following statement is wrong with regards to an internal auditor?

A) Has statutory Powers

B) Can be removed at any time

C) Appointed by the management

D) Is an adviser to management

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37. Not recording a transaction in the books of account is treated as an error of:

A) Omission

B) Commission

C) Compensating

D) Duplication

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38. As per Companies Act 2013, remuneration of the first auditor of a company is fixed by whom of the following?

A) Registrar of companies

B) Board of Directors

C) First general body meeting

D) As per rates shown in Act schedule

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39. Who appoint auditor in the case of a Government company or any other company owned or controlled, directly or indirectly, by the Government as per Companies Act 2013?

A) CAG of India

B) Board of Directors

C) Registrar of Companies

D) Respective Government

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40. Which of the following statement is wrong with regards to internal check?

A) It is to eliminate errors and frauds

B) It apart of internal control

C) It is done by appointed auditor

D) It is continuous in nature

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41. Following are the names of table of random numbers except:

A) Luca's table of random numbers

B) Kendall & Babington Smith numbers

C) Fisher and Yate's numbers

D) Tippett's table of random numbers

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42. Value of Probability lies between:

A) None of these

B) 0 and 1, but cannot be 1 or 0

C) -1 and +1

D) 0 and 1

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43. Two unbiased coins are tossed. What is the probability of getting at least one tail?

A) None of these

B) 1/4

C) 3/4

D) 1/2

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44. The value of 'No correlation' is:

A) 0

B) -1

C) Cannot be defined

D) +1

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45. Which of the following is not a property of 'Normal Distribution'?

A) It is bell shaped

B) Coefficient of skewness is one

C) It is continuous curve

D) Mean, median and mode are equal

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46. Which of the following is not a random sampling method?

A) Stratified sampling

B) Cluster sampling

C) Systematic sampling

D) Judgment sampling

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47. Theory of sampling is based on :

A) Principle of 'Statistical Regularity'

B) None of these

C) Principle of 'Inertia of Large Numbers'

D) Both (Principle of 'Statistical Regularity') and (Principle of 'Inertia of Large Numbers')

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48. In which year the Indian Contract act was passed?

A) 1905

B) 1892

C) 1912

D) 1872

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49. Which of the following is not a negotiable instrument?

A) Share warrants

B) Bearer Debenture

C) Treasury Bill

D) Share Certificate

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50. Bank Draft is a:

A) Type of promissory note

B) Negotiable instrument

C) Not a negotiable instrument

D) Bill of exchange drawn by a Bank

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51. Grace period for calculating maturity of a Bill of Exchange as per Act is:

A) 4 days

B) 3 days

C) 10 days

D) 5 days

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52. Which of the following Indorsement is not valid under Negotiable Instruments Act 1881?

A) Full Indorsement

B) Blank Indorsement

C) Restrictive Indorsement

D) Partial Indorsement

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53. The 'Doctrine of Reputed Ownership' is related to which of the following?

A) Workmen Compensation Act

B) Insolvency Acts

C) Contract of Sale of Goods Act

D) Indian Contract Act

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54. Of the following, which is the formal certificate of dishonour issued by a Notary Public, to the
holder of a Bill or Note on his demand?

A) Protest

B) Noting

C) Discharge Certificate

D) Dishonour Certificate

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55. All crossings (drawing two parallel transverse lines, usually on the left hand top corner) on a cheque with following words - between parallel lines - are treated an general crossing, except:

A) And Company

B) The State Bank

C) &Co.

D) Not Negotiable

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56. Which of the following is true with regards to a balance sheet?

A) It shows position of a business on a particular date

B) It shows position change of a business between two particular dates

C) It shows changes of a business for a particular year

D) It shows changes in assets and liabilities of a business during the year

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57. Income received but not earned is:

A) An Asset

B) A Contingent Liability

C) A Liability

D) None of these

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58. Bank Account is an example of:

A) Profit Account

B) Nominal Account

C) Personal Account

D) Real Account

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59. Unclaimed dividend is shown under which heading in the balance sheet?

A) Reserves and Surpluses

B) Provisions

C) Current Liabilities

D) Miscellaneous Items

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60. Surender value of joint life policy is shown as asset in the balance sheet when premium is
treated as:

A) An investment

B) An ordinary business expense

C) In both cases (An ordinary business expense) and (An investment)

D) None of these

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61. In which year the Income Tax Act was passed?

A) 1961

B) 1972

C) 1968

D) 1962

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62. Which of the following statement is false with regards to 'income' under Income Tax Act?

A) It can be earned illegally

B) It can be of any form

C) It can be irregular or lump-sum

D) It can be gift with clear personal element

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63. Which of the following is not a business expense?

A) Salaries

B) Wage

C) Depreciation

D) All of these

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64. What is meant by the term 'Adjusted Purchase'?

A) Purchase-Discount received

B) Opening Stock + Purchases - Returns

C) Opening Stock + Purchases

D) Purchase-Purchase Returns

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65. Which one of the following is correct with regards to Budget?

A) It is a single use plan

B) It is a standing plan

C) It is a multi use plan

D) It is a functional area of management

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66. Which of the following is not a technique of scientific management?

A) Time Study

B) Scheduling

C) Standardisation

D) Motion Study

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67. Theory of human motivation (need hierarchy theory) is given by whom?

A) Urwick

B) A.H. Maslow

C) Glueck

D) F.W. Taylor

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68. Who invented 'Difference Engine'?

A) Gilbreth

B) Mc. Gregor

C) H. Emerson

D) Charles Babbage

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69. Who among the following is treated as founder of 'Human Relation School' of management?

A) Elton Mayo

B) C.L Barnard

C) R. Likert

D) H.A. Simon

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70. Which of the following is not a management function as given by H. Fayol?

A) Control

B) Organising

C) Planning

D) Stuffing

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71. Which of the following best explains "Planning Premises"?

A) Planning environment

B) Resources available for planning

C) Permissions available for planning

D) Available infrastructure facilities

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72. The idea of 'Functional Foremanship' of supervision is given by whom?

A) H. Fayol

B) C. Argyris

C) Mary Parker Follett

D) F.W. Taylor

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73. Which is the oldest form of organisation?

A) Line

B) Staff

C) Committee

D) Line and Staff

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74. The process that reduce the gap between planning and performance is:

A) Staffing

B) Organising

C) Communicating

D) Controlling

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75. "Order of command that runs from top to bottom" is explained by:

A) Unity of Direction

B) Esprit-de-Corps

C) Scalar Chain

D) Unity of Command

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76. Accountability means what?

A) Doing accounting duty

B) Obligation for the performance of duty

C) Ability to answer

D) Willingness to perform duty

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77. Which of the following primarily means to transfer authority from an individual to another?

A) Departmentalisation

B) Sharing Responsibility

C) Delegating

D) Division of Labour

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78. Who issue Treasury Bills in India?

A) SBI

B) SEBI

C) RBI

D) Government Treasury Department

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79. Which one of the following is not a right under Consumer Protection Act 1986?

A) Hight to be informed

B) Right to be heard

C) Right to consumer education

D) Right to protect environment

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80. The first characteristic Malayalam novel is 'Indulekha' published in:

A) 1888

B) 1889

C) 1789

D) 1887

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81. Swadeahibhimani Ramakriahna Pillai was deported from Travancore in:

A) 1909

B) 1910

C) 1931

D) 1911

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82. Channar agitation took place during the time:

A) Ayilyam Thirunnal

B) Sreemulam Thirunnal

C) Utharam Thirunal

D) Swathi Thirunnal

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83. 'Paschimodayam' was published by:

A) Thoma Kathanar

B) Father Clement

C) Herman Guntert

D) Gonsalvez

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84. The first girls school was started at:

A) Kottayam

B) Kochi

C) Kollam

D) Thiruvananthapuram

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85. 'Tatva prakasika ashram' is an educational centre started by:

A) Vagbhatananda

B) Ayyankali

C) Sahodaran Avyappan

D) Sree Narayana Guru

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86. Author of Kerala Sahitya Charithram:

A) P.K. Narayana Pillai

B) Ullur S. Parameswara Iyer

C) Kumaran Asan

D) Vallathol

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87. Deshabhimani was the newspaper of:

A) C. Krishnan

B) Vakkom Abdul Khadar Monulavi

C) Ramakrishna Pillai

D) T.K. Madhavan

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88. 93rd constitutional Amendment related with:

A) Labour

B) Environment

C) Education

D) Social justice

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89. The ex-officio chairman of Rajiyasabha:

A) Vice president

B) President

C) Speaker

D) Prime Minister

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90. Election commission came into existence in :

A) 1950

B) 1951

C) 1952

D) 1954

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91. Who was the first president of the Nair service society?

A) T.K. Madhavan

B) K. Kelappan

C) G.P. Pillai

D) Mannath Padmanabhan

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92. Who started the Bachpan Bachao Andolan?

A) Medha Patkar

B) Gopal Hari Deshmukh

C) Malala

D) Kailash Satyarthi

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93. The International Boxing Association banned which Indian Boxer for one year for not accepting her bronze medal at Asian Game 2014:

A) Suil Chetri

B) Bhakthi Sharma

C) Bala Devi

D) Sarita Devi

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94. The Asian Games 2018 held at:

A) Jakartha

B) Dubai

C) Tokyo

D) Doha

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95. Founder of "Travancore muslim Mahagensabha":

A) Mampuram Thangal

B) Poikayil Yohannan

C) Makthi Thangal

D) Vakkom Abdul Khadar Moulavi

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96. Guruvayur satyagraha was in:

A) 1931

B) 1932

C) 1930

D) 1933

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97. Siva Temple at Aruvipuram established in:

A) 1880

B) 1887

C) 1889

D) 1888

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98. Sahodara Sangam was founded at:

A) Cherayi

B) Perunna

C) Sivagiri

D) Varkala

ACCOUNTANT (082/2016)

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Kerala PSC Accountant Exam 2016 mock test Kerala PSC Accountant Exam Mock Test 2016 All Kerala· Practice Previous Question Papers Based Mock Test 2016

Kerala PSC Accountant/Jr. Accountant/Accounts Assistant/Accounts Clerk-Various Companies/Corporations (082/2016) Mock Test