Name of the University : Govind Guru Tribal University
Exam : Research Eligibility Test 2018
Subject : Paper-II – Accountancy and Business Statistics (ABST)
Document Type : Model Question Paper
Year : 2018
Website : https://www.ggtu.ac.in/
Download Model Question Paper :
ABST QP : https://www.pdfquestion.in/uploads/25311-Accstat.pdf
Answer Key : https://www.pdfquestion.in/uploads/25311-accstaans.pdf
GGTU RET Accountancy & Business Statistics Question Paper
No. of Pages in Booklet : 08
No. of Multiple Choice Objective Questions in Booklet : 50
Time : 60
Maximum Marks : 100
Related : Govind Guru Tribal University RET Research Eligibility Test Zoology Question Paper 2018 : www.pdfquestion.in/25307.html
Instructions
1. Answer all the questions.
2. Every question is of two marks.
3. There are no negative marks for incorrect answers.
4. At the commencement of examination, the Question Booklet will be given to you. In the first five minutes, you are requested to open the Booklet an compulsorily examine it as below: Tally the number of pages and number of questions in the Booklet with the information printed on the cover page.
** Faulty Booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct Booklet rom the invigilator within the period of five minutes. Afterwards, neither the Question Booklet will be replaced nor any extra time will be given.
5. Give one answer of each question in a separately provided OMR answer sheet.
6. Rough work is to be done on the back of printed papers.
7. There are four optional answer of each question which have written A, B, C, D in English and v] c] l] n in Hindi respectively. Candidate is required to darken the correct options of the answers of each question in the box givenagainst each question No. on the answer sheet. Use only blue/black ball point pen.
8. If you write your Roll No. or put any mark on any part of the Answer Sheet, except for the space allotted for the elevant entries, which may disclosed your indentity or use abusive language, you will render yourself liable to disqualification.
** Carrying or use of copying material, talking with another candidate during examination isprohibited. Mobile phone or any electronic equipment is prohibited in the examination hall. If any of the prohibited material or any complaint is received against any candidate, necessary action as per rules will be taken against such candidate.
9. In case any of the candidate is found to copying or any unauthorised/prohibited material is found form his/her, anFIR shall be lodged in the Police against that candidate and action will be taken under Rule 3 of the Prevention of Unfair means Act, 1992. Such applicant can be prohibited from appearing in all examination in future.
10. The English version will be treated as standard in case of any ambiguity or printing mistake.
Sample Question
1. As per which convection of Accounting, the practice of “window dressing and Creating secret reserves” is not permitted in accounting –
(A) Convention of disclosure
(B) Convention of materiality
(C) Convention of consistency
(D) Convention of conservation
2. On the basis of which accounting concept or convention closing stock is credited to trading account –
(A) Going concern concept
(B) Cost concept
(C) Convention of consistency
(D) Matching concept
3. Owner’s claim in assets of business is –
(A) Primary
(B) Causal
(C) Maximum
(D) Residual and final
4. Plant and machinery which stood in books at `7500 includes a machine at a book value of `1700. This being obsolete and was sold off at `450 and replaced by a new machine which cost `2400. Then capital expenditure is –
(A) 1250
(B) 2400
(C) 450
(D) 1950
5. Goods given as samples should be credited to –
(A) Advertisement Account
(B) Sales Account
(C) Purchases Account
(D) Trading Account
6. Upon dissolution a liability taken over by a partner is to be credited to –
(A) Profit & loss A/c
(B) Partner’s capital A/c
(C) Realization A/c
(D) Deficiency A/c
7. A and B are partners in a firm sharing in 5:3. They admit C with ¼ share in profit which he acquire ¾ from A and ¼ B. He Pays `4000 for his share of goodwill. A and B will be created by –
(A) 2500 and 1500 respectively
(B) 3000 and 1000 respectively
(C) 2000 each
(D) 1000 and 3000 respectively
8. Amar and Akbar are equal partners, on the date of dissolution of firm their capitals were 60,000 and 80,000 respectively. After sale of assets and payment of liabilities cash balance was 1,12,000. Profit on loss on realisation will be –
(A) Profit 28,000
(B) Profit 40,000
(C) Profit 60,000
(D) Loss 28,000
9. It is share of `10, on which `6 has been paid, is forfeited, it can be re-issued at a minimum price of:
(A) `6 per share
(B) `4 per share
(C) `10 per share
(D) None of these
10. Loss suffered from the date of acquisition of business to the date of incorporation should be debited to –
(A) Profit & Loss a/c
(B) Goodwill a/c
(C) Capital reserve a/c
(D) Preliminary expenses a/c
11. The salary of 4 clerks for a period of 6 months before the relevant date of liquidation was in arrears. If the salary of each clerk is `1200 p.m. the amount to be included in preferential creditors will be –
(A) 28,800
(B) 19,200
(C) 4,000
(D) 7,200
12. Mr. C’s trail balance contains the following information: Bad debts 4,000, provision for doubtful debts 5,000; Sundry debtors 25,000. It is desired to create a provision for bad debts at 10% on sundry debtors. Sundry debtors will appear in the balance sheet at a net figure of –
(A) 22,500
(B) 21,000
(C) 18,000
(D) 15,500
13. Accumulated profits include-
(A) Provision for doubtful debts
(B) Insurance Fund
(C) Employee’s provident fund
(D) None of these
14. Cost of control account is credited with –
(A) Revenue profit’s
(B) Capital profit’s
(C) Revenue losses
(D) None of these
15. XYZ ltd. increases its share capital by issuing 3 new equity shares of `10 each for `25 for every 5 shares held. Market price of existing share is `29 (cum right). Value of right would be –
(A) `2.50
(B) `3.50
(C) `1.50
(D) `4.50
16. Market capitalisation rate is 18% and dividend per share is `2.40 for a share of `100, value per share would be –
(A) 15
(B) 15.33
(C) 13.33
(D) 16.33
17. When Amalgamation is in nature of merger, the accounting method to be followed is –
(A) Equity method
(B) Purchase method
(C) Pooling of interest method
(D) Consolidated method
18. Debenture holders having a floating charge have priority in payment over –
(A) Preferential creditors
(B) Secured creditors
(C) Unsecured creditors
(D) On all of these
19. Profit mode of a firm will result in equal increase of –
(A) Gross current assets
(B) Net Current assets
(C) Net working capital
(D) Net worth of the firm
20. Net profit after depreciation of `10,000 and transfer to reserves `20,000 is `1,20,000. The addition to stock during the period was `20,000. Cash from operation is –
(A) 1,30,000
(B) 1,70,000
(C) 1,50,000
(D) 1,00,000
Answer Key
1 D
2 D
3 D
4 B
5 C
6 B
7 B
8 D
9 B
10 B
11 B
12 A
13 B
14 B
15 C
16 C
17 C
18 C
19 D
20 D