← Question papersTRE2 — Language General Studies And Accountancy
· Set A
GS: Hindi / English · Language questions stay in their original language.
Instructions150 questions · 150 marks · 2 hours 30 minutes
Choose one option per question.
Tap an option to check it, or open “See answer”.
Page 3 / 3
← Previous pageQuestion 101
Which of the following is an example of a provision?
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 102
Reserves are created to
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Correct answer: (C) strengthen the financial position of the business
1 marks · 2023 · Set A
Question 103
Capital reserves include
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 104
Which of the following is an example of a General Reserve?
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 105
Dividend Equalization Reserve comes under
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Correct answer: (B) Specific Reserves
1 marks · 2023 · Set A
Question 106
A Bill of Exchange has _____ parties.
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Correct answer: (A) three
1 marks · 2023 · Set A
Question 107
Which of the following is a feature of a Bill of Exchange?
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 108
A bill drawn and accepted for a genuine trade transaction is called
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Correct answer: (C) trade bill
1 marks · 2023 · Set A
Question 109
Which of the following is related to a promissory note?
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Correct answer: (C) Acceptance not required
1 marks · 2023 · Set A
Question 110
Joint Venture Account is a
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Correct answer: (A) Nominal Account
1 marks · 2023 · Set A
Question 111
When goods are purchased for a joint venture, the amount is debited to
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Correct answer: (B) Joint Venture Account
1 marks · 2023 · Set A
Question 112
Payment on the average due date results in loss of interest to
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Correct answer: (C) neither party
1 marks · 2023 · Set A
Question 113
The term ‘Red-Ink Interest’ is generally related to
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Correct answer: (C) Account Current
1 marks · 2023 · Set A
Question 114
The consignor usually maintains _____ account(s).
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Correct answer: (A) three
1 marks · 2023 · Set A
Question 115
Consignment Account is a
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Correct answer: (B) Nominal Account
1 marks · 2023 · Set A
Question 116
A financial statement provides a summary of
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Correct answer: (A) accounts
1 marks · 2023 · Set A
Question 117
Trading Account gives the overall result of
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Correct answer: (C) trade
1 marks · 2023 · Set A
Question 118
A Balance Sheet is a statement of
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Correct answer: (A) assets, liabilities and capital
1 marks · 2023 · Set A
Question 119
Modern computerized accounting systems are based on the concept of
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Correct answer: (A) database
1 marks · 2023 · Set A
Question 120
The elements of an accounting information system are
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Correct answer: (C) accounting, information and system
1 marks · 2023 · Set A
Question 121
The financial statements of not-for-profit organizations include
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 122
Receipts and Payments Account is a
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Correct answer: (B) Real Account
1 marks · 2023 · Set A
Question 123
A not-for-profit organization prepares
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 124
Which of the following is related to the Income and Expenditure Account?
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Correct answer: (C) It has no opening balance.
1 marks · 2023 · Set A
Question 125
The main features of the single-entry system include
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 126
In a single-entry system, opening capital is ascertained by preparing
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 127
The characteristics of a partnership firm include
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 128
Which of the following statements is true?
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Correct answer: (C) A partnership deed regulates the rights, duties and liabilities of partners.
1 marks · 2023 · Set A
Question 129
The need to value goodwill in a partnership firm arises due to
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 130
A, B and C are partners sharing profits in the ratio 2:3:1. C retires. The new profit-sharing ratio between A and B will be
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 131
On the death of a partner, accumulated profits are shared by the partners in their
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Correct answer: (B) old profit-sharing ratio
1 marks · 2023 · Set A
Question 132
The valuation of goodwill is influenced by
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 133
A and B are partners sharing profits in the ratio 3:2. C is admitted and given 1/6 share of profits. The partners’ new profit-sharing ratio will be
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Correct answer: (A) 3:2:1
1 marks · 2023 · Set A
Question 134
Which of the following companies is formed by a special Act of Parliament or Legislature?
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 135
A company’s shares can be issued at
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 136
When shares are forfeited, the Share Capital Account is debited by the
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Correct answer: (A) called-up amount
1 marks · 2023 · Set A
Question 137
Authorized share capital is also called
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Correct answer: (B) registered share capital
1 marks · 2023 · Set A
Question 138
Which of the following statements is not true?
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Correct answer: (C) A debenture holder has general voting rights.
1 marks · 2023 · Set A
Question 139
When interest on debentures is due, which account is debited?
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Correct answer: (B) Interest on Debentures Account
1 marks · 2023 · Set A
Question 140
When debentures are issued as collateral security for ₹10,000, which account is debited?
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Correct answer: (C) Debentures Suspense Account
1 marks · 2023 · Set A
Question 141
Which of the following is not a cash inflow?
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Correct answer: (C) Decrease in creditors
1 marks · 2023 · Set A
Question 142
Which of the following is a cash outflow?
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Correct answer: (E) None of the above
1 marks · 2023 · Set A
Question 143
A financial statement is
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Correct answer: (B) recorded facts
1 marks · 2023 · Set A
Question 144
Financial analysis is a process of
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Correct answer: (C) identifying the strengths and weaknesses of the firm
1 marks · 2023 · Set A
Question 145
Which of the following is a technique of financial analysis?
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 146
The main objectives of ratio analysis include
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Correct answer: (D) More than one of the above
1 marks · 2023 · Set A
Question 147
The current ratio is also called
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Correct answer: (A) working capital ratio
1 marks · 2023 · Set A
Question 148
The liquid ratio is also called
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Correct answer: (B) quick ratio
1 marks · 2023 · Set A
Question 149
Turnover ratios help management in
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Correct answer: (B) evaluation of performance
1 marks · 2023 · Set A
Question 150
The debt-equity ratio is a
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Correct answer: (A) solvency ratio
1 marks · 2023 · Set A
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