astec.assam.gov.in Question Paper Junior Accounts Assistant JAA : Science Technology & Environment Council

Organisation : ASTEC Assam Science Technology and Environment Council
Recruitment Name : Junior Accounts Assistant JAA
Document Type : Question Paper
Year : 2023
Website : https://astec.assam.gov.in/documents-detail/question-paper-with-answer-keys

ASTEC Junior Accounts Assistant JAA Question Paper

Time: 2 hrs
Total Marks : 150
Part – II (1-50)
Each question carries 2 marks
1. Which of the following statement is true?
A. There is no uniformity in the application of accounting conventions in different enterprises.
B. Convention of full disclosure is also known as convention of prudence.
C. Accounting conventions are established by law.
D. There is no personal bias in the adoption of accounting conventions.

2. On the basis of the following transactions, the closing capital of the business will be:
(i) Owner’s capital at the beginning Rs. 3,60,000
(ii) Creditors at the end Rs. 50,000
(iii) Income during the year Rs. 1,20,000
(iv) Expenses during the year Rs. 60,000
A. Rs. 4,20,000
B.Rs. 3,70,000
C.Rs. 3,10,000
D.Rs. 4,70,000

3. Assertion (A) Management of working capital refers to the management of current assets and current liabilities.
Reason (R) But the major thrust of course is on the management of current assets because current liabilities arise in the context of current assets.
A. Both (A) and (R) are correct.
B. (A) is correct and (R) is incorrect.
C. Both (A) and (R) are incorrect.
D. (A) is incorrect, but (R) is correct.

4. What would be the amount of depreciation for 3rd year in the following case ?
Cost of asset Rs. 2,00,000
Installation charges Rs. 10,000
Residual value Rs. 20,000
Useful life 10 years
A.Rs. 18,000
B.Rs. 19,000
C.Rs. 22,000
D.Rs. 21,000

5. Legal expenses incurred in purchasing a plot of land is
A. Revenue expenditure
B. Revenue loss
C.Deferred revenue expenditure
D.Capital expenditure

6. Which of the following books is called the king of books of accounts?
A. Journal
B.Ledger
C.Trial balance
D.Cash book

7. Assertion (A) Revenue expenses are written off in the year in which they are incurred
Reason (R) The benefit of revenue expenses is consumed within a year
A. Both (A) and (R) are correct.
B. (A) is correct and (R) is incorrect.
C. Both (A) and (R) are incorrect.
D. (A) is incorrect, but (R) is correct.

8. Assertion (A): GST is a comprehensive levy and collection on both goods and services at the same rate with the benefit of input tax credit or subtraction of value. Reason (R): GST is a destination-based tax and levied at a single point at the time of consumption of goods and services by the end consumer.
A. Both (A) and (R) are correct.
B. (A) is correct and (R) is incorrect.
C. Both (A) and (R) are incorrect.
D. (A) is incorrect, but (R) is correct.

9. Assertion (A) According to conservatism principle valuation of inventory should be made at cost price or market price whichever is lower.
Reason (R) Inventory valuation is necessary when a business is going to be sold as a going concern.
A. Both (A) and (R) are correct.
B. (A) is correct and (R) is incorrect.
C. Both (A) and (R) are incorrect.
D. (A) is incorrect, but (R) is correct

10. Assertion (A) All the government revenue generated from taxes and earnings from state- run companies go into the Contingency Fund of India.
Reason (R) It is the duty of the finance department of Govt. of India to maintain Contingency Fund.
A. Both (A) and (R) are correct.
B. (A) is correct and (R) is incorrect.
C. Both (A) and (R) are incorrect.
D. (A) is incorrect, but (R) is correct

11. Assertion (A) According to Article 248 of the Constitution of India , the President of India appoints the Comptroller and Auditor General of India by warrant under his hand and seal.
Reason (R) He has to uphold the constitution and the Law of Parliament in the field of financial administration.
A. (A) is true but (R ) is false
B. (A) is false but (R) is true.
C. Both (A) and (R ) are true but (R) is the correct explanation of (A)
D. Both (A) and (R ) are true but (R) is not the correct explanation of (A)

12. Who among the following a progressive tax?
A. Sales Tax
B. Custom Duty
C. Value Added tax
D.Income Tax

13. As per the new tax regime, what is the exemption limit of Income tax for the financial year 2022-23 ?
A. Rs. 1,50,000
B. Rs. 2,50,000
C. Rs. 5,00,000
D. Rs. 7,50,000

14. Which of the following is not covered under Section 80D of Income tax Act, 1961?
A. Health insurance premium paid for self, spouse, children and parents
B. Payments made towards preventive health check-ups
C. Medical expenses incurred on maintaining the health of senior citizens without any medical insurance
D. Medical expenses incurred on the treatment of a dependent who is a person with a disability.

15. Which one of the following is not an error of commission for the purpose of audit?
A. Posting of wrong amount
B. Posting of wrong account
C. Posting a revenue item to a personal account
D. Posting to one side only

16. Which one of the following Sections is not related to Tax Deducted at Source (TDS) as per Income tax Act?
A. Section 139
B. Section 193
C. Section 194
D.Section 206AA

17. Which one of the following Form is not used for filling TDS Returns?
A.Form 24Q
B.Form 25Q
C. Form 26Q
D. Form 27Q

18. Which one of the following investments/payments is not allowable deduction u/s 80C of Income Tax Act, 1961?
A. Contribution to Provided Fund
B. Subscription to National Savings Certificate
C. Interest paid on loan taken for higher education
D. Repayment of Housing Loan Principal amount

19. Which one of the following is not an exempted income as per Section 10 of Income Tax Act, 1961 ?
A. Agricultural Income
B. Share of profit of a partner from a firm
C. Retirement Compensation from a public sector Company
D. Self-employment income

20. Which one of the following items is taxable under GST ?
A. Crude oil
B.High speed diesel
C.Aviation turbine fuel
D.Processed food items

21. Which one of the following is not a capital asset as per Section 2(14) of the Income Tax Act, 1961 ?
A. Land and Building
B. Debentures
C. Jewellery
D. Motor car

22. Which one of the following is not a part of ‘cash and cash equivalent’ in a cash book?
A. Coins
B. Liquid securities
C. Certificate of deposit
D.Commercial paper

23. Accounting principles are not based on
A.Objectivity
B.Verifiability
C.Confidentiality
D.Comparability

24. Which of the following does not need to be adjusted into the cash book balance?
A. Cheques mistakenly credited by bank
B. Cheques deposited but not cleared
C. Cheques issued but not presented
D. All of these

25. Assertion (A) As per Section 208, every person whose estimated tax liability for the year is more than Rs.10,000, shall pay his tax in advance.
Reason (R) But a resident senior citizen whose age is 60 years or above during the relevant financial year not having any income from business or profession is not liable to pay advance tax.
A. (A) is true but (R ) is false
B. (A) is false but (R) is true.
C. Both (A) and (R ) are true but (R) is the correct explanation of (A)
D. Both (A) and (R ) are true but (R) is not the correct explanation of (A)

Important Instructions of Candidates

** All questions are compulsory.
** Please ✔ the correct option against each question with black/blue ball pen. If more than one option is ticked, the answer will be marked as wrong.
** No correction pen, calculator and/or any other electronic device can be used.
** Please do not write your name anywhere on the question paper.
** You may do rough work, if required, only on the blank sheet.

Download Question Paper & Answer Key

Junior Accounts Assistant JAA Question Paper – https://www.pdfquestion.in/uploads/pdf2024/42469-q.pdf
Answer Key Part 1 – https://www.pdfquestion.in/uploads/pdf2024/42469-a.pdf
Answer Key Part 2 – https://www.pdfquestion.in/uploads/pdf2024/42469-ak.pdf