Professional Documents
Culture Documents
Search
(http://www.guruji24.com/)
{KeyWord:Accounts Solution}
1) Which of the following may not be part of the Bank reconciliation process.
c) BRS shows causes of disagreement between cash book & passbook.
c) Shows no difference.
d) None of the above.
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
6) Goods worth Rs.2000 sold to Vijay was entered in purchase account;
The rectification is
a) Credit purchases and credit sales to the extent of Rs.2000 each & debit Vijay by Rs.2000
b) Debit purchases and debit sales to the extent of Rs.2000 each & credit Vijay.
7) Machinery worth (WDV) 1000/- sold for 1200/- is entered in sales register. The rectification is
a) Credit sales 1200/-, debit machinery 1000/- and debit P&L a/c 200/-.
b) Debit sales 1200/- , credit machinery 1000/- and credit P&L a/c 200/-.
c) Credit machinery 1200/-, debit sales 1000/- and debit P&L a/c 200/-.
d) Debit machinery 1200/-, credit sales 1000/- and credit P&L a/c 200/-.
8) Sales return of amount Rs.1000 from Vijay was wrongly entered in purchase book.
c) Credit Vijay Rs.2000, debit sales and purchases to the extent Rs.1000, each.
b) Trial balance errors are not located then the difference is sent to suspense a/c.
a) Revenue expenses
c) Capital expenditure
2 of 10 11/3/16, 8:07 PM
d) None of the above
14) Which of the following is false
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
a) Replacement of defective part of machinery is revenue expenditure
d) Excess of sale price of Machinery over its W D Value but less than cost price is treated as revenue receipt
e) Excess of sale price of asset over cost price 5) Revenue Receipt (d )
a) Kind of expense
d) None of above
c) Both a) & b)
d) Neither a) nor b)
c) Both a) & b)
d) Neither a) nor b)
b) Overstating profits
c) Understating profits
22) As per accounting standards which of the following is not a preferred method
3 of 10 11/3/16, 8:07 PM
a) LIFO
b) FIFO
c) WACM
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
d) All of them
23) In the books of ‘A’, Bills receivable a/c is debited and B’s a/c is credited, then
24) In the books of B , Bills payable a/c is debited and bank account is credited
4 of 10 28) Due to heavy flooding a truck carrying consignment goods sinks. This loss is called 11/3/16, 8:07 PM
a) contingent loss
b) Nominal loss
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
c) Abnormal loss
29) Which of the following is true for leasing and hire purchase
30) In sum of digits method for 5 years which of the following is the 1st year’s allocation ratio.
a) 1/15
b) 2/15
c) 3/15
d) 4/15
e) 5/15
a) Total lease rent = cost of asset - total finance income + residual value
b) Total finance income = total lease rent – cost of asset + residual value
c) Total finance income = cost of asset – total lease rent + residual value
d) Cost of the asset = total lease rent + residual value + total finance income
33) In comparing lease & hire purchase (H P) there are differences & similarities.
a) In lease the user of the asset does not retain it, while in H P he does.
b) In lease the user does not claim depreciation while he does in H P.
d) The users of assets in both lease & H P run the risk of obsolescence.
35) Income for the year = I, Outstanding Income for previous year = Id,
Outstanding Income of current year = Idi, then Receipts for the year is
a) I – Idi + Id
b) I + Idi – Id
c) I + Idi + Id
36) Opening balance of asset = Oi, Closing balance of asset = Oc, Depn. = D,
b) Oi + D – Oc
c) Oc + D – Oi
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
d) Oi – D – Oc
38) For a Non- Trading Organization, a P & L A/c called an Income & Expenditure A/c because.
(c) By object of their association they are non profit making bodies.
(d) Their income & expenditure statement are a combination of capital & revenue receipts.
40) Under written down value method of Depn., the W D V of the asset is always
41) What is the Rate of Interest if Rs.2000/- when invested on Simple Interest becomes Rs.4000/- in 8
years……
a) 13.25 %
b) 13.50 %
c) 12.5 %
d) 12.75 %
42) Rs.2000/- when invested on Simple Interest becomes Rs.4000/- in 8 years, in how many years it will
become Rs.8000/-…...
a) 12
b) 16
c) 20
d) 24
43) What is the Present Value of Rs.7500/- to be received after 4 years, if the current investment rate is 7.5%
pa……
a) 5616
b) 5576
c) 5689
d) 5715
47)A, B and C are three partner sharing profits in the ratio of 3:1:1. C retires and his share is purchased by B. the
6 of 10 11/3/16, 8:07 PM
new profit sharing ratio shall be-----
a) 3:1
b) 7:3
JAIIB- Accounting And Finance for Bankers Question-Answers http://www.guruji24.com/free-material/204/JAIIB--Accounting...
c) 3:2
d) The rate & the amount remains the same but the depreciation amount declines from year to year as per
government guidelines
a) Capital expenditure
b) Revenue expenditure
47) There is overdraft of Rs.17000/- as per cash book of the trader, he deposited a cheque of Rs.7000/- in the bank
which is not yet credited to the trader’s account. What is the balance as per bank pass book……
a) Rs.10000/-
b) Rs.17000/-
c) Rs.24000/-
d) None of these
48) A, B & C share profits in 3:2:1. If B retires and his share is taken by A & C in ratio 2:1, what is their new profit
sharing ratio…….
a) 4 : 5
b) 5 : 7
c) 13 : 5
d) 5 : 13
49) RBI has put minimum ‘Capital to Risk-Weighted Assets Ratio’ (CRAR) for New Private Sector Banks at………
a) 8%
b) 9%
c) 15%
50) Which of the following maxim is applied in the case of Indirect Quotation……….
ANS- 1-C 2-C 3-C 4-A 5-A 6-A 7-B 8-D 9-A 10-A
11-B 12-C 13-C 14-C 15-B 16- 17-D 18-B 19-A 20-C
21-A 22-A 23-B 24-B 25-C 26-C 27-A 28-C 29-B 30-E
31-B 32-A 33-D 34-C 35-A 36-C 37- 38-C 39-B 40-C
41-C 42-B 43-D 44-C 45-A 46-A 47-B 48-C 49-C 50-B
JAIIB -Mock Test Of PRINCIPLES AND PRACTICE LEGAL AND REGULATORY OF BANKING (http://www.guruji24.com/free-
material/178/JAIIB--Mock-Test-Of-PRINCIPLES-AND-PRACTICE-LEGAL-AND-REGULATORY-OF-BANKING)
JAIIB -Mock test of PRINCIPLES AND PRACTICE LEGAL AND REGULATORY OF BANKING (http://www.guruji24.com/free-
material/177/JAIIB--Mock-test-of-PRINCIPLES-AND-PRACTICE-LEGAL-AND-REGULATORY-OF-BANKING--)
JAIIB -Mock test of LEGAL AND REGULATORY ASPECTS OF BANKING, PRINCIPAL AND PRACTICE, ACCOUNTING AND FINANCE
(http://www.guruji24.com/free-material/176/JAIIB--Mock-test-of-LEGAL-AND-REGULATORY-ASPECTS-OF-BANKING,-
PRINCIPAL-AND-PRACTICE,-ACCOUNTING-AND-FINANCE-)
Share
! (https://www.facebook.com/sharer/sharer.php?u=http://www.guruji24.com/free-material
/204/JAIIB--Accounting-And-Finance-for-Bankers-Question-Answers&t=JT) "
(https://twitter.com/intent/tweet?source=http://www.guruji24.com/free-material/204/JAIIB--
Accounting-And-Finance-for-Bankers-Question-Answers&text=JT:%20/free-material/204/JAIIB--
Accounting-And-Finance-for-Bankers-Question-Answers) + (https://plus.google.com
/share?url=http://www.guruji24.com/free-material/204/JAIIB--Accounting-And-Finance-
for-Bankers-Question-Answers) $ (http://pinterest.com/pin/create/button/?url=http:
//www.guruji24.com/free-material/204/JAIIB--Accounting-And-Finance-for-Bankers-Question-
Answers&description=guruji24.com) % (http://www.linkedin.com/shareArticle?mini=true&
9 of 10 11/3/16, 8:07 PM
url=/free-material/204/JAIIB--Accounting-And-Finance-for-Bankers-Question-Answers&title=JT&
summary=guruji24.com&source=http://www.guruji24.com/free-material/204/JAIIB--Accounting-
And-Finance-for-Bankers-Question-Answers)
JAIIB- Accounting And Finance for Bankers Question-Answers & (mailto:?subject=Guruji24.com&
http://www.guruji24.com/free-material/204/JAIIB--Accounting...
body=http://www.guruji24.com/free-material/204/JAIIB--Accounting-And-Finance-for-Bankers-
Question-Answers)
(https://plus.google.com/u/1/) $ (http://www.pinterest.com/guruji24contact/)
(https://play.google.com
/store
/apps/details?id=acwinux.apps.guruji24&
hl=en)
Copyright 2014 Acwinux Software Pvt Ltd (http://www.acwinux.com). All Rights Reserved.
10 of 10 11/3/16, 8:07 PM