APDCL AAO Mini Mock Test- 3 | APDCL Assistant Accounts Officer Recruitment 2018

A Sarmah

5 years ago

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Total Numbers of Question: 20

Total Time: 20 Minutes

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Question 1 of 20

1. Question
1 points
Which one of the following is NOT true about Capital Expenditure?
- a) Incurred to acquire fixed assets
- b) Reduce the profit of the concern
- c) Creates future benefits
- d) None of these
Correct

Incorrect
Question 2 of 20

2. Question
1 points
Reports that can be prepared from the adjusted trial balance is:
- a) Expense report
- b) Inventory report
- c) Payroll spending report
- d) General Purpose financial report
Correct

Incorrect
Question 3 of 20

3. Question
1 points
Which of the following adjusting double entries is correct for Unearned income?
- a) DEBIT= Income, CREDIT= Unearned income
- b) DEBIT= Cash, CREDIT= Unearned income
- c) DEBIT= Income, CREDIT= Cash
- d) DEBIT= Unearned income, CREDIT= Income
Correct

Incorrect
Question 4 of 20

4. Question
1 points
A check returned by bank marked “NSF” means:
- a) Bank couldn't verify the identity of the signature
- b) Check has been forged
- c) There is no sufficient balance in that account
- d) None of these
Correct

Incorrect
Question 5 of 20

5. Question
1 points
Any written evidence in support of a business transaction is called as:
- a) Journal
- b) Voucher
- c) Ledger
- d) Cash Statement
Correct

Incorrect
Question 6 of 20

6. Question
1 points
Statement of financial position produced from incomplete accounting record is commonly known as:
- a) Statement of affairs
- b) Balance sheet
- c) Statement of financial operations
- d) Cash flow statement
Correct

Incorrect
Question 7 of 20

7. Question
1 points
Partnership type of business is formed by the mutual agreement of partners. What kind of agreement is it?
- a) Written agreement
- b) Oral Agreement
- c) Oral or Written agreement
- d) None of these
Correct

Incorrect
Question 8 of 20

8. Question
1 points
The DuPont Analysis uses the following ratios except:
- a) Profit Margin
- b) Debt ratio
- c) Total asset turnover
- d) None of these
Correct

Incorrect
Question 9 of 20

9. Question
1 points
Which of the following statements is incorrect regarding capital account?
- a) Credit increases the capital account balance
- b) Net income increases the capital account balance
- c) Debit increases the capital account balance
- d) None of these
Correct

Incorrect
Question 10 of 20

10. Question
1 points
Which of the following account with normal balance is shown at the credit side of a trial balance?
- a) Accrued expense account
- b) Cash account
- c) Bank account
- d) None of these
Correct

Incorrect
Question 11 of 20

11. Question
1 points
A current asset that is convertible to cash within 3 months can be referred to:
- a) Operating asset
- b) Cash equivalent
- c) Intangible asset
- d) Cash Asset
Correct

Incorrect
Question 12 of 20

12. Question
1 points
A firm has not recorded the bad debts by mistake. Which of the following is the effect of bad debts omission?
- a) Gross profit will increase
- b) Gross profit will decrease
- c) Net profit will increase
- d) Net profit will decrease
Correct

Incorrect
Question 13 of 20

13. Question
1 points
Suppose that the provision for doubtful debts account’s opening balance is ₹3222, closing balance is ₹5222 and bad debts written off during the accounting period amount to ₹500. Work out the total amount needed to debit in the profit and loss account?
- a) ₹1800
- b) ₹2500
- c) ₹3300
- d) Can't be determined
Correct

Incorrect
Question 14 of 20

14. Question
1 points
The revenue recognition principal dictates that all types of incomes should be recorded or recognized when:
- a) When interest is paid
- b) When they are earned
- c) When cash is received
- d) None of these
Correct

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Question 15 of 20

15. Question
1 points
Which one of the following concepts states that the publication or presentation financial statements should not be delayed?
- a) Reliability concept
- b) Timing concept
- c) Readiness concept
- d) None of these
Correct

Incorrect
Question 16 of 20

16. Question
1 points
Which of the following current ratio of and above indicates that the availability of sufficient net working capital and the ability of the firm to meet current liabilities?
- a) 1.33:1
- b) 1.44:1
- c) 1.55:1
- d) 1.66:1
Correct

Incorrect
Question 17 of 20

17. Question
1 points
The quick ratio formula uses which of the following:
- a) Total assets
- b) Cash
- c) Inventory
- d) Total current assets
Correct

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Question 18 of 20

18. Question
1 points
A company received a cash ₹8000 in advance for auditing service. However, the company neither earned this revenue nor made any adjusting entry in its books. Identify the effect of this omission?
- a) Total expenses to be understated
- b) Total expenses to be overstated
- c) Total liabilities to be understated
- d) Total assets to be overstated
Correct

Incorrect
Question 19 of 20

19. Question
1 points
A tool that is used to help bookkeepers and accountants complete the accounting cycle is:
- a) Expense calculator
- b) Cash Manager
- c) Finaicial ratio estimator
- d) Acccounting worksheet
Correct

Incorrect
Question 20 of 20

20. Question
1 points
A Low Return on Investment Ratio indicates:
- a) Improper utilization of resources
- b) Over investment in assets
- c) Either A or B
- b) Both A & B
Correct

Incorrect

APDCL AAO Mini Mock Test- 3 | APDCL Assistant Accounts Officer Recruitment 2018

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