UKSSSC organized the G.B. Pant University, Assistant Accountant Officer Exam Paper on 29th November 2020. This Exam Paper UKSSSC Assistant Accountant Officer G.B. Pant University Exam Paper 2020 Question Paper with Answer Key available here.
Post Name – (G.B. Pant University Assistant Accountant)
Organized by – UKSSSC
Exam Date – 29 November, 2020 (Morning Shift)
Set – A
Number of Questions – 100
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UKSSSC G.B. Pant University Assistant Accountant Exam 2020
(Official Answer Key)
1. Total debtors account is prepared to know :
(A) Credit purchase
(B) Credit sales
(C) Cash sales
(D) None of the above
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2. On seizer of goods by the hire vendor, the balance of the assets account transferred to:
(A) Profit-loss account
(B) Hire vendor account
(C) Goods repossessed account
(D) None of the above
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3. The maturity period of treasury bill is :
(A) 91 days
(B) 364 days
(C) Both (A) and (B)
(D) None of the above
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4. Indian accounting standards are issued by :
(A) Reserve Bank of India
(B) Central Government
(C) State Government
(D) Institute of Chartered Accountants of India
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5. Basic objectives of financial management is :
(A) Maximisation of sales
(B) Maximisation of wealth
(C) Maximisation of profit
(D) None of the above
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6. Zero base budgeting was first used in:
(A) United States of America
(B) England
(C) Germany
(D) India
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7. Which of the following is not a basic principle of accounting?
(A) Principle of expenses
(B) Principle of full disclosure
(C) Principle of historical cost
(D) Principle of cost and benefit
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8. The most rigorous test of liquidity is :
(A) Current ratio
(B) Absolute liquid ratio
(C) Quick ratio
(D) None of the above
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9. A plan is a trap to capture the future. This statement is of:
(A) Allen
(B) Terry
(C) Hurley
(D) Newman
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10. Principle of indemnity applies in:
(A) Life insurance
(B) Life and fire insurance
(C) Life and marine insurance
(D) Marine and fire insurance
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11. Return of investment is computed by:
(A) Profit and investment
(B) Cost of capital and investment
(C) Profit and sales
(D) None of the above
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12. On dishonour, a promissory note does not require :
(A) Noting
(B) Accepting
(C) Discounting
(D) None of the above
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13. Use of LIFO method is suitable at:
(A) Rising prices
(B) Falling prices
(C) Constant prices
(D) All of the above
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14. The Sale of Goods Act came in force from:
(A) 1872 A.D.
(B) 1930 A.D.
(C) 1932 A.D.
(D) 1949 A.D.
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15. Verification of assets includes:
(A) Physical verification of assets
(B) Verification of proper value of assets
(C) Verifying that assets are free from any charge
(D) All of the above
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16. The section of agreement in restrains of trade is :
(A) 28
(B) 27
(C) 29
(D) 26
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17. Short cut key for ‘Purchase Voucher’ in Tally is :
(A) F7
(B) F8
(C) F9
(D) F10
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18. Holding company means :
(A) Which holds at least 50 percent shares of other company
(B) Which holds at least 51 percent shares, of other company
(C) A company controls over the Board of Directors of other company
(D) Which holds at least 75 percent shares of other company
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19. The difference between actual cost and standard cost is known as:
(A) Profit
(B) Differential cost
(C) Variance
(D) Margin of safety
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20. The Institute of Chartered Accountants of India was established on:
(A) 1 July, 1949 A.D.
(B) 1 April, 1948 A.D.
(C) 1 January, 1950 A.D.
(D) 1 April, 1932 A.D.
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