Bharat Sanchar Nigam Limited – BSNL Recruitment – 2710 Junior Telecom Officer (JTO) Vacancies

1. The share of new partner in the profits is 1/5 and his capital is Rs. 20,000. The new profit sharing ratio is 3 : 1 : 1. The share of partners in total capital will be—
(A) 60,000 : 20,000 : 20,000
(B) 80,000 : 20,000 : 20,000
(C) 50,000 : 20,000 : 25,000
(D) None of the above

2. At the time of dissolution the loss of the business, will be compensated first of all from—
(A) Capital
(B) Profits
(C) Personal resources of the partners
(D) Donations

3. The meaning of written down value is—
(A) Original cost – Scrap value
(B) Book value + Depreciation
(C) Book value – Depreciation
(D) None of these

4. Given :
Depreciation on the basis of Fixed Instalment Method Rs. 2,000 p.a.
Establishment expenses Rs. 5,000
Scrap value Rs. 1,000
Span of life 10 years
The cost of assets will be—
(A) Rs. 20,000
(B) Rs. 16,000
(C) Rs. 12,000
(D) None of these

5. Given :
Cost Rs. 1,00,000
Scrap Value Rs. 10,000
Span of Life 10 years
Rate of depreciation 20% p.a.
The amount of depreciation for the first year on the basis of diminishing balance method will be—
(A) Rs. 20,000
(B) Rs. 18,000
(C) Rs. 9,000
(D) Rs. 10,000

6. Match the following List-I with List-II and select the correct answer from the answer codes given below—
List-I
(a) AS-6
(b) AS-10
(c) AS-26
(d) AS-20
List-II
1. Accounting for Earning per share
2. Accounting for intangible and fictitious assets
3. Accounting for fixed assets
4. Depreciation Accounting
Codes :
(a) (b) (c) (d)
(A) 1 2 3 4
(B) 3 2 1 4
(C) 1 3 2 4
(D) 4 3 2 1

7. Establishment expenses of a new machine will be debited to—
(A) Expenses Account
(B) Profit and Loss Account
(C) Machinery Account
(D) None of the above

8. Goodwill is—
(A) Floating Asset
(B) Wasting Asset
(C) Fictitious Asset
(D) Intangible Asset

9. A Balance Sheet shows only—
(A) Personal Accounts and Nominal Accounts
(B) Real Accounts and Nominal Accounts
(C) Personal Accounts and Real Accounts
(D) Personal, Real and Nominal Accounts

10. Discount on Issue of Shares A/c is shown at the—
(A) Debit side of P & L A/c
(B) Assets side of B/S
(C) Liabilities side of B/S
(D) None of the above

11. Pre-incorporation Profit is transferred to—
(A) General Reserve
(B) Capital Reserve
(C) Profit and Loss A/c
(D) Trading A/c

12. Which of the following is shown in Profit & Loss Appropriation A/c ?
(A) Provision for Income Tax
(B) Provision for Depreciation
(C) Provision for Doubtful Debts
(D) Contribution to General Reserve

13. On liquidation of a Company first payment is made in respect of—
(A) Liquidator’s remuneration
(B) Legal expenses
(C) Preferential creditors
(D) None of the above

14. Workmen’s Compensation Fund is a—
(A) Provision
(B) Surplus
(C) Current liability
(D) Loan

15. Debentures of Rs. 4,25,000 are issued against the purchase of assets of Rs. 4,50,000. In this case the amount of Rs. 25,000 is—
(A) Capital Reserve
(B) Securities Premium
(C) Revenue Profit
(D) Goodwill

16. A Company can reissue its forfeited shares—
(A) At a premium
(B) At a face value
(C) At a discount
(D) All of the above

17. Which of the following is an example of capital expenditure ?
(A) Insurance Premium
(B) Taxes and Legal expenses
(C) Depreciation
(D) Custom duty on import of machinery

18. Given :
Average profit of a firm Rs. 21,000
Normal Profit Rs. 18,000
Value of goodwill on the basis of 3 years purchases of super profit shall be—
(A) Rs. 39,000
(B) Rs. 9,000
(C) Rs. 3,000
(D) Rs. 12,000

19. A co-operative auditor starts his work of audit from—
(A) Account Books
(B) Payment Books
(C) Cash Book
(D) None of the above

20. Accounting for research and development relates to—
(A) AS-7
(B) AS-8
(C) AS-9
(D) AS-10

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