Kerala PSC Lower Division Accountant – KSIDC Ltd (171/2015) Mock Test

1. Which of the following is not the objective of internal check?

2. Right shares enjoy preferential right as regards:

3. Which of the following methods of inventory valuation result in higher valuation of inventory when there is a decreasing trend in prices?

4. The amount of depreciation charged under annuity method:

5. The debit balance in the bank column of cash book indicates:

6. At the end of the accounting year nominal accounts are:

7. Premium on redemption of debenture is _____ a/c

8. If the shares are forfeited, the share capital a/c is debited by:

9. The process of recording financial data up to trial balance is:

10. Average profit = 3,72,000, Normal rate of return = 12%, Total asset = 68,00,000, outside
liabilities = 42,00,000. Calculate the value of goodwill under capitalisation method.

11. The maximum number of partners is mentioned in :

12. An accounting system which presents the balance sheet into two parts is called:

13. Voyage account is ____ account.

14. In self balancing. bought ledger adjustment account is opened in:

15. Manufacturing a/c is prepared to find out:

16. The amount paid to an author or the use of copyright is called:

17. Where the loss of an asset has been identified by the bank, but the amount has not been written off wholly or partly is known as:

18. Accounting principles are based on:

19. Valuation and presentation of inventory is:

20. Find the odd one:

21. If sales is ₹ 2,40,000, percentage of gross profit on sales 20%, purchase ₹ 1,75,000, closing stock ₹ 30,000. Then opening stock will be:

22. If cost of an asset is ₹ 60,000 and life period is 4 years. The rate of depreciation is:

23. ____ is against the principle of convention of conservation.

24. The term is used to write off the value of lease hold properties:

25. Ram sends 50 table fan to Rahim costing ₹ 300 per table fan to be sold at 20% above cost price. Sales will be:

26. Acid test is same as:

27. Deferred cost is a:

28. The sale of a business asset on credit is recorded in:

29. Marshalling of balance sheet means :

30. Which one of the following is not considered the permanent part of the accounting record?

31. Error due to wrong allocation as expenditure between capital and revenue is regarded as:

32. Depreciation in spirit is similar to:

33. The main object of an audit is:

34. A sale of ₹ 50,000 to A was entered as a sale to B. This is an example of:

35. Auditing standards differ from audit procedures relate to:

36. Professional skepticism requires that the auditor assume that management is :

37. Audit of banks is an example of:

38. Which of the following schedule of the Companies Act, 1956 deals with depreciation?

39. Which of the following auditing assurance standard deals with audit planning?

40. Concurrent audit is a part of:

41. Which of the following is a revenue reserve?

42. Who out of the following cannot be appointed as a statutory auditor of the company?

43. The branch auditor is appointed by:

44. The statutory auditor of a government company submits his report to:

45. The auditor is most likely to examine related party transactions very carefully while vouching:

46. The creditors accounts, generally, have credit balance. Debit balance may be due to:

47. The time lag between indenting and receiving material is called:

48. Depreciation in based on:

49. An endowment insurance policy can be taken in respect of:

50. Double entry book-keeping was fathered by:

51. Which of the following ways can be used to create 'Secret Reserves'?

52. Which one of the following will lead to understatement of net profit?

53. The word 'credit' has been derived from the Latin word 'credere' which means:

54. By-products should be valued at:

55. Which account is to be prepared when revised values are not to appear in the new balance
sheet framed after the retirement or death of a partner?

56. Payment of the trade creditors would:

57. Which of the following results in the flow of funds?

58. The balance sheet is related to the income statement in the same way that:

59. Which of the following in the most important reason for studying accounting?

60. The difference between the balance of a fixed asset a/c and the related accumulated depreciation a/c is termed as:

61. Propriety audit is normally undertaken in case of:

62. Government may order for cost audit under:

63. Institute of Chartered Accountants of India was established on:

64. Payment for building purchased should be vouched with the help of:

65. "Auditor is not valuer" was started in :

66. Incomplete contracts should be valued on the basis of:

67. A government company auditor may be appointed by :

68. The first auditor of company will hold office:

69. Labour turnover is measured by:

70. The allotment of whole items of cost to cost centres or cost units is called:

71. If an auditor does something wrongfully in the performance of his duties resulting in
financial loss to the company be is guilty of:

72. As an auditor, which of the following documents would you consider most reliable in respect
of a receipt from a customer?

73. Under Companies Act 1956, audit of annual financial statement is compulsory for:

74. Which of the following ratios indicates the short term solvency of a firm?

75. The term 'depletion' used in relation to:

76. Which of the following is correct?

77. Which famous case deals with the insolvency of a partner?

78. Super profit is:

79. Provision for bad and doubtful debts is created in anticipation of actual bad debts on the
basis of:

80. Balance in a petty cash book is:

81. The person who introduced Mahatma Gandhiji to Keralities:

82. The social reformer who gave leadership to 'Kallumalasamaram':

83. The Grand Old Man of Indian Journalism:

84. The author of Advaithachintha Padhathi:

85. The Sangam Epic, 'Manimeghala' belongs to which Sangam Writer:

86. ASEAN came into existence during the year:

87. State animal of Maharashtra:

88. The author of 'Hungry Stones'

89. The portfolio of atomic energy comes under:

90. The right to property was excluded from fundamental rights during the tenure of the govt. headed by:

91. 'Ananda Maha Sabha' was started by whom?

92. Razia Sultana was the only woman monarch who ruled Delhi. Her rule lasted only for four years. When did she ascended the throne of Delhi?

93. The Constitutional Amendment deals with the anti-defection law :

94. The first woman to became High Court Judge among Common Wealth Countries:

95. The Nishanth garden of Kashmir was built by:

96. National Judicial Academy is located at :

97. The Parliament of France is:

98. Disagreement between the two houses of Indian Parliament is finally resolved through:

99. Chronologically arrange the following battles:

1. Second battle of Panipat
2. Battle of Haldighati
3. Battle of Asirgarh
4. Battle of Kannauj

100. The famous Somanath Temple is in: