Question 1

Which of the following is NOT a communicable disease?

Accepted Answer

The correct answer is: Diabetes. Diabetes is a chronic, non-communicable metabolic disorder characterized by high blood sugar levels. Tuberculosis, Influenza, and Ringworm are communicable infectious diseases.

Question 2

Consider the following statements:

- a. There is infinite storage of fossil fuel inside the earth.
- b. Sun can be taken as an inexhaustible source of energy.
- c. Waste from a nuclear power plant can be easily disposed of.

Which of the above statements is/are NOT correct?

Accepted Answer

The correct answer is: a and c. Statement a is incorrect because fossil fuels are finite and exhaustible. Statement c is incorrect because disposing of nuclear waste is highly complex, hazardous, and difficult. Statement b is correct, so a and c are NOT correct.

Question 3

Who invented the Light Bulb?

Accepted Answer

The correct answer is: Thomas Edison. Thomas Alva Edison patented the first commercially practical incandescent light bulb in 1879.

Question 4

Consider the following statements regarding Kud dance:

1. Kud dance is performed to honour the gods Lok Devtas' as a thanks giving ritual.
2. It is practiced on festive occasions like Eid and Ramzan days are going.

Which of the above statements is/are correct?

Accepted Answer

The correct answer is: Only 1. Statement 1 is correct. Kud is a traditional thanksgiving folk dance performed in Jammu's hilly areas to honor the Lok Devtas (local deities). Statement 2 is incorrect as it is performed during rainy nights and after harvesting, not on Eid/Ramzan.

Question 5

Consider the following pairs:

- A. Vitamin A: Anaemia
- B. Vitamin C: Skin Diseases
- C. Vitamin D: Rickets
- D. Vitamin B1: Beri Beri

Which of the above pairs are correctly matched?

Accepted Answer

The correct answer is: C and D. Vitamin D deficiency causes Rickets (C is correct) and Vitamin B1 deficiency causes Beri Beri (D is correct). Vitamin A deficiency causes Night Blindness (Anaemia is due to iron deficiency), and Vitamin C deficiency causes Scurvy.

Question 6

Consider the following national parks and the states they are located in:

- a. Kaziranga National Park: 4. Assam
- b. Jim Corbett National Park: 3. Uttarakhand
- c. Ranthambore National Park: 2. Rajasthan
- d. Gir National Park: 1. Gujarat

Which of the following pairs is/are correctly matched?

Accepted Answer

The correct answer is: a-4, b-3, c-2, d-1. The correct matches are: Kaziranga is in Assam (a-4), Jim Corbett is in Uttarakhand (b-3), Ranthambore is in Rajasthan (c-2), and Gir is in Gujarat (d-1). This corresponds to a-4, b-3, c-2, d-1.

Question 7

The population growth rate means:

Accepted Answer

The correct answer is: Difference between birth rate and death rate. The population growth rate is the rate at which the number of individuals in a population increases, which is fundamentally calculated as the difference between the birth rate and the death rate.

Question 8

Consider the following statements regarding Ajanta Caves:

- a. Ajanta caves were tagged as UNESCO World Heritage Sites in 1983.
- b. Currently, these caves are taken care of by the Archaeological Survey of India.
- c. The caves are believed to be made in Gupta period and Vakataka period.

Which of the above statements is/are correct?

Accepted Answer

The correct answer is: All of the above. All statements are correct. Ajanta Caves became a UNESCO World Heritage site in 1983, are preserved by the ASI, and were excavated during the Vakataka and Gupta periods.

Question 9

Fixed cost is a cost:

Accepted Answer

The correct answer is: Which does not change in total during a given period despite changes in output. Fixed costs are those expenses that remain constant in total amount over a specific range of activity/output during a given period, regardless of volume changes.

Question 10

Calculate the Prime Cost from the following information:

- Direct material purchased: Rs. 1,00,000
- Direct material consumed: Rs. 90,000
- Direct labour: Rs. 60,000
- Direct expenses: Rs. 20,000
- Manufacturing overheads: Rs. 30,000

Accepted Answer

The correct answer is: Rs. 1,70,000. Prime Cost is the sum of direct costs: Prime Cost = Direct Materials Consumed + Direct Labour + Direct Expenses = Rs. 90,000 + Rs. 60,000 + Rs. 20,000 = Rs. 1,70,000. (Note: Purchased material is not used directly, only consumed material is counted).

Question 11

Suppliers' personal accounts are seen in the:

Accepted Answer

The correct answer is: Purchases Ledger. The Purchases Ledger (or Creditors Ledger) contains the personal accounts of all suppliers from whom goods have been purchased on credit.

Question 12

Bookkeeping is regarded as the _____ step of accounting.

Accepted Answer

The correct answer is: First. Bookkeeping is the recording phase of accounting and constitutes the first step in the accounting process, which is followed by classifying, summarizing, and interpreting.

Question 13

Which of the following is correct?

Accepted Answer

The correct answer is: asset = liability + equity. The fundamental accounting equation is Assets = Liabilities + Capital (Owner's Equity). This represents the balance sheet structure.

Question 14

Which concept suggests the exclusion of human resources in the balance sheet?

Accepted Answer

The correct answer is: Money Measurement Concept. The Money Measurement Concept states that only transactions and events that can be expressed in terms of money should be recorded. Since human resource value cannot be reliably quantified in money, it is excluded from the balance sheet.

Question 15

Which of the following procedures should an accountant follow while preparing a voucher?

Accepted Answer

The correct answer is: All of the above. An accountant preparing a voucher must verify details on supporting bills, check authorization signatures, and determine the correct voucher type (receipt, payment, journal). Thus, all procedures are correct.

Question 16

Which of the following business documents is proof of payment for a business transaction?

Accepted Answer

The correct answer is: Receipt. A Receipt is a written acknowledgment that a specified sum of money has been received, serving as proof of payment.

Question 17

In a bank statement, cash deposited by the customer is shown as:

Accepted Answer

The correct answer is: credit. For the bank, customer deposits are liabilities. Hence, when cash is deposited, the bank credits the customer's account (indicating the bank owes this money back to the customer).

Question 18

Which of the following constitute a food-chain?

Accepted Answer

The correct answer is: Grass, goat and human. Grass (Producer) is eaten by Goat (Primary Consumer), which in turn is consumed by Human (Secondary Consumer), forming a valid food chain.

Question 19

What is "Deposit in transit" in bank reconciliation?

Accepted Answer

The correct answer is: Added to Bank Balance. Deposits in transit are funds received and recorded by the company in its cash book but not yet processed and recorded by the bank. In bank reconciliation, these are added to the bank statement balance.

Question 20

What type of cheque is that which is issued by a firm but not yet presented to the bank?

Accepted Answer

The correct answer is: Outstanding cheques. An outstanding cheque (also known as an unpresented cheque) is a cheque that has been written and issued by the firm but has not yet been presented to the bank for payment.

Question 21

The Public Financial Management System (PFMS) was earlier known as:

Accepted Answer

The correct answer is: Central Plan Schemes Monitoring System (CPSMS). The Public Financial Management System (PFMS) was initially launched as a pilot program called the Central Plan Schemes Monitoring System (CPSMS) in 2009 to track funds released under plan schemes.

Question 22

A statement of financial position produced from incomplete accounting records is commonly known as:

Accepted Answer

The correct answer is: Statement of affairs. Under the single entry system (incomplete records), a Statement of Affairs is prepared to estimate the financial position of a business and calculate opening and closing capital.

Question 23

What happens when interest on drawings is charged to a partner?

Accepted Answer

The correct answer is: Debited to partner's capital a/c. Interest on drawings is charged to partners as it is an expense for them. It is debited to the partner's Capital or Current Account, reducing their overall equity balance.

Question 24

M and N are two partners sharing profits and losses in a 3:2 ratio. They admit P as a new partner with a 1/5th share. What will be the new profit-sharing ratio?

Accepted Answer

The correct answer is: 12:8:5. Let total profit = 1. P's share = 1/5. Remaining share = 1 - 1/5 = 4/5. M's new share = 3/5 * 4/5 = 12/25. N's new share = 2/5 * 4/5 = 8/25. P's share = 1/5 = 5/25. The new profit-sharing ratio is 12:8:5.

Question 25

The method of transferring items from a journal into their respective ledger accounts is known as:

Accepted Answer

The correct answer is: Posting. Posting is the process of transferring debits and credits from the journal or other books of original entry to the respective ledger accounts.

Question 26

When an audit is undertaken to check the financial controls and irregularities in the organization, it is which type of audit?

Accepted Answer

The correct answer is: Internal audit. An internal audit is conducted within an organization to evaluate risk management, internal controls, and check for any financial irregularities/frauds.

Question 27

Current Ratio is calculated as:

Accepted Answer

The correct answer is: Current assets / Current liabilities. Current Ratio is a liquidity ratio that measures a company's ability to cover its short-term obligations. It is calculated as Current Assets divided by Current Liabilities.

Question 28

A bank passbook is a copy of:

Accepted Answer

The correct answer is: The customer account in the bank's ledger. A bank passbook (or bank statement) is a copy of the customer's ledger account maintained in the books of the bank.

Question 29

A trial balance helps to check the accuracy of the:

Accepted Answer

The correct answer is: Ledger. A trial balance is prepared to verify the arithmetical accuracy of postings in the ledger accounts. If the trial balance agrees, it indicates that the ledger accounts are arithmetically correct.

Question 30

Which of the following entities generally prepare their books of accounts under the single entry system?

Accepted Answer

The correct answer is: Sole traders. Sole traders and small partnership businesses usually keep their accounts under the single entry system because of its simplicity and lower costs. Companies are legally required to maintain double-entry records.

Question 31

GST is a consumption of goods and service tax based on:

Accepted Answer

The correct answer is: Destination. GST is a destination-based tax on consumption of goods and services, meaning the tax revenue goes to the consuming state rather than the producing state.

Question 32

What does financial leverage measure?

Accepted Answer

The correct answer is: The sensibility of EPS w.r.t % change in the EBIT level. Financial leverage measures the sensitivity of Earnings Per Share (EPS) in response to a percentage change in Earnings Before Interest and Taxes (EBIT).

Question 33

A Finance Bill becomes the Finance Act when it is passed by:

Accepted Answer

The correct answer is: Both House of Parliament and signed by President.. A Finance Bill becomes the Finance Act after it is passed by both Houses of Parliament (Lok Sabha and Rajya Sabha) and receives the formal assent (signature) of the President of India.

Question 34

Income which accrues or arises outside India & is also received outside India is taxable in the case of:

Accepted Answer

The correct answer is: Resident and Ordinary Resident. Under Indian income tax law, global income (income accruing/arising and received outside India) is taxable only for individuals who are Resident and Ordinarily Resident (ROR).

Question 35

Which of the following is/are included in the definition of "Goods" as defined under section 2(52) of the CGST Act, 2017?

Accepted Answer

The correct answer is: Actionable claim. Section 2(52) of the CGST Act, 2017 defines 'goods' to exclude money and securities but specifically includes actionable claims, growing crops, grass, etc.

Question 36

The amount payable at the time of closure or opting out of the National Pension Scheme referred to in section 80CCD shall be exempt to the extent of _____ of the total amount payable.

Accepted Answer

The correct answer is: 40%. Under the Income Tax Act, at the time of closure or exit from the NPS, the exemption was initially set to 40% of the total amount payable under Section 10(12A). Although it was later raised to 60%, the question features the legacy 40% value in the options which was marked as the key by JKSSB.

Question 37

Goodwill of a firm of X and Y is valued at Rs. 30,000. It is appearing in the books at Rs. 12,000. Z is admitted for a 1/4th share. What amount is Z supposed to bring for goodwill?

Accepted Answer

The correct answer is: 7,500. The new partner Z must bring goodwill equivalent to their share in the current valued goodwill. Valued Goodwill = Rs. 30,000. Z's share = 1/4 of Rs. 30,000 = Rs. 7,500.

Question 38

Assertion (A): If the interest is payable outside India, tax must be deducted at source.
Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.

Select the correct answer from the code given below:

Accepted Answer

The correct answer is: Both (A) and (R) are correct and (R) is the correct explanation of (A).. Both are correct. Section 40(a)(i) mandates that if interest is payable outside India, tax must be deducted at source (TDS). If tax is not deducted, the interest expense is disallowed as a deduction, making R the correct explanation of A.

Question 39

From the following information, find out the number of units that must be sold by the firm to earn a profit of Rs. 1,80,000 per year:

- Sales price: Rs. 25 per unit
- Variable manufacturing costs: Rs. 12 per unit
- Variable selling costs: Rs. 3 per unit
- Fixed factory overheads: Rs. 5,00,000
- Fixed selling costs: Rs. 3,00,000

Accepted Answer

The correct answer is: 98,000 units. Contribution per unit = Selling Price - Total Variable Cost = 25 - (12 + 3) = Rs. 10. Total Fixed Cost = 5,00,000 + 3,00,000 = Rs. 8,00,000. Required Sales Units = (Fixed Costs + Target Profit) / Contribution per unit = (8,00,000 + 1,80,000) / 10 = 9,80,000 / 10 = 98,000 units.

Question 40

Who was the first scientist to use the term SMOG and define its layers?

Accepted Answer

The correct answer is: Dr. Henry Antoine. Dr. Henry Antoine Des Voeux first coined the term 'smog' (portmanteau of smoke and fog) in a paper presented at the Public Health Congress in 1905.

Question 41

Consider the following statements regarding the greenhouse effect:

1. Life on the earth is possible due to the greenhouse effect.
2. Increased emission of greenhouse gases is a natural process.

Which of the above statements is/are correct?

Accepted Answer

The correct answer is: Only 1. Statement 1 is correct because the greenhouse effect maintains Earth's temperature suitable for life. Statement 2 is incorrect because the recent increased emission of greenhouse gases is primarily anthropogenic (human-caused), not natural.

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Which of the following is NOT a communicable disease?

Consider the following statements: - a. There is infinite storage of fossil fuel inside the earth. - b. Sun can be taken as an inexhaustible source of energy. - c. Waste from a nuclear power plant can be easily disposed of. Which of the above statements is/are NOT correct?

Who invented the Light Bulb?

Consider the following statements regarding Kud dance: 1. Kud dance is performed to honour the gods Lok Devtas' as a thanks giving ritual. 2. It is practiced on festive occasions like Eid and Ramzan days are going. Which of the above statements is/are correct?

Consider the following pairs: - A. Vitamin A: Anaemia - B. Vitamin C: Skin Diseases - C. Vitamin D: Rickets - D. Vitamin B1: Beri Beri Which of the above pairs are correctly matched?

Consider the following national parks and the states they are located in: - a. Kaziranga National Park: 4. Assam - b. Jim Corbett National Park: 3. Uttarakhand - c. Ranthambore National Park: 2. Rajasthan - d. Gir National Park: 1. Gujarat Which of the following pairs is/are correctly matched?

The population growth rate means:

Fixed cost is a cost:

Calculate the Prime Cost from the following information: - Direct material purchased: Rs. 1,00,000 - Direct material consumed: Rs. 90,000 - Direct labour: Rs. 60,000 - Direct expenses: Rs. 20,000 - Manufacturing overheads: Rs. 30,000

Suppliers' personal accounts are seen in the:

Bookkeeping is regarded as the _____ step of accounting.

Which of the following is correct?

Which concept suggests the exclusion of human resources in the balance sheet?

Which of the following procedures should an accountant follow while preparing a voucher?

Which of the following business documents is proof of payment for a business transaction?

In a bank statement, cash deposited by the customer is shown as:

Which of the following constitute a food-chain?

What is "Deposit in transit" in bank reconciliation?

What type of cheque is that which is issued by a firm but not yet presented to the bank?

The Public Financial Management System (PFMS) was earlier known as:

A statement of financial position produced from incomplete accounting records is commonly known as:

What happens when interest on drawings is charged to a partner?

M and N are two partners sharing profits and losses in a 3:2 ratio. They admit P as a new partner with a 1/5th share. What will be the new profit-sharing ratio?

The method of transferring items from a journal into their respective ledger accounts is known as:

When an audit is undertaken to check the financial controls and irregularities in the organization, it is which type of audit?

Current Ratio is calculated as:

A bank passbook is a copy of:

A trial balance helps to check the accuracy of the:

Which of the following entities generally prepare their books of accounts under the single entry system?

GST is a consumption of goods and service tax based on:

What does financial leverage measure?

A Finance Bill becomes the Finance Act when it is passed by:

Income which accrues or arises outside India & is also received outside India is taxable in the case of:

Which of the following is/are included in the definition of "Goods" as defined under section 2(52) of the CGST Act, 2017?

The amount payable at the time of closure or opting out of the National Pension Scheme referred to in section 80CCD shall be exempt to the extent of _____ of the total amount payable.

Goodwill of a firm of X and Y is valued at Rs. 30,000. It is appearing in the books at Rs. 12,000. Z is admitted for a 1/4th share. What amount is Z supposed to bring for goodwill?

Assertion (A): If the interest is payable outside India, tax must be deducted at source. Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income. Select the correct answer from the code given below:

Who was the first scientist to use the term SMOG and define its layers?

Consider the following statements regarding the greenhouse effect: 1. Life on the earth is possible due to the greenhouse effect. 2. Increased emission of greenhouse gases is a natural process. Which of the above statements is/are correct?

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