GMS Composite Knitting Ind. Ltd.

Written Test, Post: Junior Officer/Asst. Officer/Officer

Time: 1.30 Hour, Marks: 70

Name: ________________________________________

Mobile Number: _________________________________

Section – A Question: Subjective Marks: 50

**** Answer the following questions: Marks

1. Explain Accounting Cycle. 03
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2. Difference between Capital and Revenue expenditure with example. 03

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3. What are the elements of financial statement? 02

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4. Why bank reconciliation is necessary? 03

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5. What is basic Accounting equation? 02

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6. Difference between Accounting concept and comm with example 03

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7. What is debit and credit? 03

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8. What are the Golden Rules of Accounting? 03

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 9. What are the types of Deprit 03

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10. What is non cash expenditure? 03

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11. Prepare a Trial Balance of ZXY Co. Limited as on 30th June 2023 from the following balances: 03

Capital 85,00,000

Prepaid insurance 330,000

Machinery 4,500,000

Traveling expenses 30,000

Raw materials purchase 2,100,000

Unearned Revenue 330,000

Carriage Inward 150,000

Salary 750,000

Provision for Income Tax 330,000

Security Deposit to Titas Gas 800,000

Carriage Outward 330,000

Purchase Return 500,000

Investment in shares

Ans.:
 Particulars Debit Credit

Capital

Prepaid insurance

Machinery

Traveling expenses

Raw materials purchase

Unearned Revenue

Carriage Inward

Salary

Provision for Income Tax

Security Deposit to Titas Gas

Carriage Outward

Purchase Return

Investment in shares

Total

Prepare Journal Entries of ZXY Co. Limited's book from the following Transactions during
12. 1+1+3=5
June 2023
i. Purchase a machinery from Energypac Limited Tk. 15,00,000.00 on account on 1/6/2023.
ii. Paid Energypac Limited Tk.750,000.00 by cheque on 15/6/2023
iii. Issued 90 days sight LC for USD 5000.00 on 30/06/2023 from Pioneer Bank Limited in favour of Energypac
Limited. Dollar conversion rate on that date was @Tk.105.00

Ans.:
 ZXY Co. Limited have purchased goods from Energypac Limited, a manufacturing company
13. for Tk. 850,000.00 including VAT and TDS @15% and 3% respecctively. Calculate VAT and 1+1+3=5
TDS amount and what amount have to pay to Energypac Limited.
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An investment of Tk. 200,000 is expected to generate the following cash inflows in six years:
Year 1: Tk 70,000
Year 2: Tk 60,000
Year 3: Tk 55,000
14. Year 4: Tk 40,000 3+2=5
Year 5: Tk 30,000
Year 6: Tk 25,000

Required: Compute payback period of the investment. Should the investment be made if
management wants to recover the initial investment in 3 years or less?

Ans.:
 What is Break-Even Point (BEP)? ZXY Co.Limited has Tk. 10,00,000 in Fixed Costs per
13. month, and their product has an Average Selling Price of Tk. 1,000, and the variable cost is 1+3=4
Tk. 200 for each product. Calculate Break-Even Point (BEP) in units of the Company.

Ans.:

16. Answer the following Questions:

Section – B Question: Subjective Marks: 5x1=05

 Please tick (√) the correct answer:

1. Bob's father has four Mom, Meme and Mumu is three of them. Who's the fourth?
A) Mumu
B) Meme
C) Jon
D) Bob

2. Choose the sentence that most closely resembles the meaning of the proverb, "The pen is mightier than the sword"
A) Your ideas are more persuasive than coercion
B) A pen is more intimidating than a sword
C) Swords are less durable than pens
D) Fighting is a bad idea, no matter the circumstances

3. I have 6 Eggs. I broke 2, I cooked 2 and I ate 2; How many eggs are left?
A) 6
B) 4
C) 8
D) 2

4. Book is to Reading as Fork is to:

A) Drawing
B) Writing
C) Stirring
D) Eating

5. If you rearrange the letters "CARACTTINA" you would have the name of a(n):
A) Continent
B) City
C) Ocean
D) Anima
17. Answer the following Questions:

Section – C Question: English Marks: 5x1=05

1. How many people ………………………. in your family?

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2. What is the passive form of "I gave him a book for his birthday"

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3. The phone rings, can you answer it?

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4. The boss should not have called Arun names in front of others.

Ans.: A) abused B) summoned C) scolded D) praised

5. Not only Mary ………………………………… Gabriel is form Italy.

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18. Answer the following Questions:

Section – D Question: GK + ICT Marks: 5x1=05

*** Write down the elaboration of the following questions:

a) UNESCO:

b) NEWS:

c) NATO:

*** Write down the elaboration of the following questions:

d) The Brain of a Computer is ……………………………….
Ans.: Hardware, Memory, ROM, Microprocessors

e) Which of the following is not an output device?

Ans.: Printer, Speaker, Keyboard, Monitor.
18. Answer the following Questions:

Section – E Question: Language & Communication Marks: 5x1=05

*** Write a paragraph in brief, Impact of Covid-19 or Corona Virus on the economy of Bangladesh?