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Re: Bihar State Electricity board Account Officer paper
Here I am giving you question paper for Bihar State Electricity board Account Officer examination. Particulars Rs. Opening written down value of machine 1, 00,000 Cost of new machine purchased during the year 50,000 Depreciation during the year 20,000 Closing written down value (WDV) ? Select correct option: Rs. 1,30,000 Rs. 1, 50,000 Rs. 1, 20,000 Rs. 70,000 An accounting system is used by a business to: Select correct option: Analyze transactions Handle routine bookkeeping tasks Structure information All of the given options In an account if debit side credit side, the balance is known as the: Select correct option: Negative Balance Debit balance Positive Balance Credit balance Details of individual accounts are kept in a separate register / ledger called: Select correct option: Control Account Subsidiary Ledger General Journal All of the given options Which of the following statement/s closing stock is/are shown? Select correct option: Profit and loss account Balance sheet Income statement All of the given options Which of the following particular/s is/are included in payment voucher? Select correct option: Name of organization Cash payment Date All of the given options Which of the following appears in both the Income Statement debit column and the Balance Sheet credit? Select correct option: Net income Net loss Dividends Retained earnings A book that keeps separate record for each account is known as: Select correct option: Trial Balance Voucher General Journal General Ledger Which of the following Organization converts raw material into finished goods? Select correct option: Trading concern Manufacturing concern Merchandising concern Service concern Franchise rights, goodwill and patents are the examples of: Select correct option: Liquid assets Tangible assets Intangible assets Current assets Cost of goods sold + ending finished goods – opening finished goods=? Select correct option: Total factory cost Cost of goods manufactured Prime cost Conversion cost accounting, which of the following account will be credited if the bad debts are recovered in cash? Select correct option: Cash a/c Bad debt recovered a/c Doubtful debts a/c Provision for bad debts a/c What should be credited, if rent paid in cash? Select correct option: Landlord’s account Rent account Cash account Accounts receivable account Sales to Mr. “A” of Rs. 336 have been debited to Mr. “B” account, this will be rectified by: Select correct option: Debiting Mr. A’s account and crediting Mr. B’s account Debiting Mr. B’s account and crediting Mr. A’s account Crediting both accounts Debiting both accounts If cost of sales is Rs. 60,000, income from sales Rs. 95,000 and direct expenses Rs. 10,000. Calculate Net profit. Select correct option: Rs. 15,000 Rs. 35,000 Rs. 55,000 Rs. 60,000 Bihar State Electricity board Account Officer paper Which of the following contents are included in the Cost of goods sold? Select correct option: Opening stock Purchases Freight in All of the given options Which of the following Journal entry will be recorded when the bad debts are recovered? Select correct option: Cash account (Dr.) & Bad Debts recovered account (Cr.) Accounts Receivable (Dr.) & Bad Debts recovered account (Cr.) Bad debts recovered account (Dr.) and profit & loss account (Cr.) Provision for doubtful debts account (Dr.) & cash account (Cr.) Which of the following is NOT correct? Select correct option: Decrease in Assets will be credit Decrease in Liabilities will be credit Decrease in Expenses will be credit Decrease in Revenue will be debit Particulars Rs. Opening written down value of machine 1,00,000 Cost of new machine purchased during the year 50,000 Depreciation during the year 20,000 Closing written down value (WDV) ? Select correct option: Rs. 1,30,000 Rs. 1, 50,000 Rs. 1, 20,000 Rs. 70,000 An accounting system is used by a business to: Select correct option: Analyze transactions Handle routine bookkeeping tasks Structure information All of the given options In an account if debit side > credit side, the balance is known as the: Select correct option: Negative Balance Debit balance Positive Balance Credit balance Details of individual accounts are kept in a separate register / ledger called: Select correct option: Control Account Subsidiary Ledger General Journal All of the given options which of the following statement/s closing stock is/are shown? Select correct option: Profit and loss account Balance sheet Income statement All of the given options Which of the following particular/s is/are included in payment voucher? Select correct option: Name of organization Cash payment Date All of the given options Which of the following appears in both the Income Statement debit column and the Balance Sheet credit? Select correct option: Net income Net loss Dividends Retained earnings A book that keeps separate record for each account is known as: Select correct option: Trial Balance Voucher General Journal General Ledger Which of the following Organization converts raw material into finished goods? Select correct option: Trading concern Manufacturing concern Merchandising concern Service concern Franchise rights, goodwill and patents are the examples of: Select correct option: Liquid assets Tangible assets Intangible assets Current assets Cost of goods sold + ending finished goods – opening finished goods=? Select correct option: Total factory cost Cost of goods manufactured Prime cost Conversion cost accounting, which of the following account will be credited if the bad debts are recovered in cash? Select correct option: Cash a/c Bad debt recovered a/c Doubtful debts a/c Provision for bad debts a/c What should be credited, if rent paid in cash? Select correct option: Landlord’s account Rent account Cash account Accounts receivable account Sales to Mr. “A” of Rs. 336 have been debited to Mr. “B” account, this will be rectified by: Select correct option: Debiting Mr. A’s account and crediting Mr. B’s account Debiting Mr. B’s account and crediting Mr. A’s account Crediting both accounts Debiting both accounts If cost of sales is Rs. 60,000, income from sales Rs. 95,000 and direct expenses Rs. 10,000. Calculate Net profit. Select correct option: Rs. 15,000 Rs. 35,000 Rs. 55,000 Rs. 60,000 Particulars Rs. Opening written down value of machine 4,10,000 Cost of machine purchased during the year 50,000 Depreciation during the year 20,000 closing written down value (WDV) of the Machines ? Select correct option: Rs. 4, 40,000 Rs. 4, 30,000 Rs. 4, 80,000 Rs. 70,000 Which of the following voucher is used to record receipt of cash? Select correct option: Journal Voucher Receipt Voucher Payment Voucher Nominal Voucher In double entry system discount received is recorded as: Select correct option: Creditors a/c (Dr.), Discount received a/c (Cr.) Discount received a/c (Dr.), Creditors a/c (Cr.) Debtor a/c (Dr.), Discount received a/c (Cr.) Discount received a/c (Dr.), Debtor a/c (Cr.) The expenses which are NOT paid out of Gross Profit is classified as: Select correct option: Direct Expenses General Expenses Financial Expenses Selling Expenses Which of the following account(s) would be decreased with a debit? Select correct option: Capital Retained Earnings Revenues All of the given options Which of the following is fiscal Year of Government of Pakistan? Select correct option: 1st January to 31st December 1st June to 31st May 1st July to 30th June 1st October to 30th September Which of the following is/are inventory valuation method(s)? Select correct option: FIFO LIFO Weighted average All of the given options Which of the following particular/s is/are included in receipt voucher? Select correct option: Name of organization Bank receipt Date All of the given options Which of the following assets is most likely to appreciate rather than depreciate? Select correct option: Land Motor vehicles Plant and machinery Fixtures and fittings Which of the following item needs to be entered in the Cash Book in order to bring it in line with the entries on the Bank Statement? Select correct option: A bank charges An error on the Bank Statement An uncredited deposit An unpresented cheque Which of the following are microeconomic variables that help define and explain the discipline of finance? A) risk and return B) capital structure C) inflation D) all of the above One primary macroeconomic variable that helps define and explain the discipline of finance? A) capital structure B) inflation C) technology D) risk The money markets deal with _________. A) securities with a life of more than one year B) short-term securities C) securities such as common stock D) none of the above The ability of a firm to convert an asset to cash is called ____________. A) liquidity B) solvency C) return D) marketability 5 Early in the history of finance, an important issue was: A) liquidity B) technology C) capital structure D) financing options The ___________________ is the most common form of business organization in the U.S. A) corporation B) partnership C) sole proprietorship D) none of the above The ____________________ has more sales in dollars than any other form of business organization. A) sole proprietorship B) partnership C) corporation D) none of the above One major disadvantage of the sole proprietorship is ________________. A) simplicity of decision-making B) unlimited liability C) low operational costs D) none of the above The appropriate firm goal in a capitalist society is ________________. A) profit maximization B) shareholder wealth maximization C) social responsibility D) none of the above The agency problem will occur in a business firm if the goals of ____________ and shareholders do not agree. A) investors B) the public C) management D) none of the above The accounting statements that a firm is required to file include all but one of these. A) Balance Sheet B) Statement of Accounts Receivable C) Income Statement D) Statement of Cash Flows The _______________ shows the firm’s financial position over a period of time. A) Income Statement B) Statement of Cash Flows C) Balance Sheet D) None of the above All of the following except one are tax-deductible expenses. A) interest expense B) depreciation C) common stock dividends D) income taxes All of the following are non-operating expenses except _____________. A) interest expense B) cost of goods sold C) preferred stock dividends D) taxes |
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