Chat with us, powered by LiveChat SSC CGL Tier 2 |Paper 4 | AAO Questions with Explanation

Mobile : +91-8800912722 , +91-9729327755( 9am-5pm | Mon to Sat) | Email : [email protected]

Daily New Batch "Join SSC CGL Online Coaching Batch for 2018 and 2019 or Hard Drive Course for 2018 and 2019".

SSC CGL Tier 2 |Paper 4 | AAO Questions with Explanation

SSC CGL Tier 2 |Paper 4 | AAO Questions with Explanation

Q1. In single entry system of accounting:

(a)Dual aspects of a transaction is recorded

(b)Single aspect of a transaction is recorded

(c)Important transactions are recorded

(d)All of them

Q2. Statement of financial position produced from incomplete accounting record is commonly known as?

(a)Balance sheet

(b)Cash flow statement

(c)Statement of affairs

(d)Statement of financial operations

Q3. Which of the following businesses usually maintain incomplete accounting record of the business activities?

(a)Large businesses

(b)Companies

(c)Big partnership firms

(d)Small businesses

Q4. In which of the following systems of recording the financial statements reflect true and fair view of an entity and accounting records are considered to be more accurate?

(a)Single entry system

(b)Double entry system

(c)Cash based system

(d)Credit based system

SSC CGL Tier 2 |Paper 4 | AAO Questions with Explanation
Q5. Identify the correct formula used to ascertain the closing balance of capital:

(a)Opening capital + Net income – Drawing – Assets = Closing capital

(b)Closing capital = Opening Capital + Net loss – Drawings

(c)Closing Capital = Opening capital + Assets + Incomes – Expenses

(d)Closing capital = Opening capital + Net income – Drawings

Q6. Which of the following formulas is used to calculated the net income for an accounting period?

(a)Net income = opening capital + Drawings + Ending capital

(b)Net income = – Opening capital + Drawings – Ending capital

(c)Net income = – Opening capital + Drawings + Ending capital

(d)Net income = Opening capital – Total assets

Q7. Which of the following statement is correct:

(a)The main purpose of any business is to earn profit

(b)If expenses exceed revenue then business is running loss

(c)Both a and b

(d)None of the above

Q8. Which of the following statement is correct:

(a)Dual aspect assume an indefinite life of the entity

(b)In accounting, accrual basis is used for recording transactions

(c)Both a and b

(d)None of the above

Q9. Which one of the following accounts is supposed to be used to get the figure of credit purchases made during the current accounting period?

(a)Debtor account

(b)Revenue account

(c)Creditors account

(d)Expenses account

SSC CGL Tier 2 |Paper 4 | AAO Questions with Explanation
Q10. To obtain the amount of credit sales made during an accounting period, which account is generally used in single entry and incomplete records?

(a)A/c payable account

(b)Total revenue account

(c)Debtors account

(d)Stock account

For Remaining Questions and other Tier 2 AAO Paper,

           Join Our Hard Drive/Online SSC CGL 2018 & 2019 Course:Click Here

For More Articles You Can Visit On Below Links :

SSC CGL Tier 3 Descriptive Writing Essays and Letters

SSC CGL 2018 & 2019 Online Preparation New Batch

SSC CGL Tier 2: Paper 4 (General Study Accounts & Finance)

SSC CHSL 2016 English Questions of 11/01/2017 Shift 2 – Tier 1

India’s 1st Hard Drive Course for SSC CGL 2018 & 2019

SSC CGL Tier -2 |Paper 3 JSO Questions/ Sol.| Exam Preparation

Algebra Based Important Questions of Maths By Pinnacle

Descriptive Writing Essays and Letters for SSC CGL Tier 3

 

Download Our Android App – Click Here

You can also visit our You tube Channel :

English: Spot The Error, 600 most important questions.

 

Now Get All Notifications And Updates In Your E-mail Account Just Enter Your E-mail Address Below And Verify Your Account To Get More Updates :

Enter your email address: Subscribe Pinnacle:

 

 Get the help you need without ever leaving the house

 

Comments are closed.

Subscribe For Latest Updates

Signup for our newsletter and get notified when we publish new articles for free!




error: Content is protected !!