Kerala PSC Previous Years Question Paper & Answer
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Below are the scanned copy of Kerala Public Service Commission (KPSC) Question Paper with answer keys of Exam Name ' LECTURER IN COMMERCIAL PRACTICE' And exam conducted in the year 2015. And Question paper code was '036/2015/OL'. Medium of question paper was in Malayalam or English . Booklet Alphacode was 'A'. Answer keys are given at the bottom, but we suggest you to try answering the questions yourself and compare the key along wih to check your performance. Because we would like you to do and practice by yourself.
Capit
Asset-liabilities
:-Liabilities = capital-assets
D:-assets-capital= liabilities
Correct Answer:- Option-C
Question57:-According to which of the following accounting convention , the closing stock of a firm is valued at cost or
market price whichever is lower ?
A:-convention of conservatism
B:-convention of consistency
C:-convention of materiality
D:-convention of disclosure
Correct Answer:- Option-A
Question58:-If purchase is Rs.1,00,000 ; opening stock Rs.25,000 ; carriage inward Rs.5,000 ; rent Rs.10,000 ; and cost of
goods sold is Rs.80,000 , the amount of closing stock of the firm would be
A:-Rs.40,000
B:-Rs.35,000
C:-Rs.30,000
D:-Rs.50,000
Correct Answer:- Option-D
Question59:-A and B are partners sharing profits in the ratio of 2:1 ; They admit 'C' in to partnership for a fourth share.the
sacrifice ratio between A and B would be
23
:1
C:-3:1
D:-none of these
Correct Answer:- Option-B
Question60:-securities premium is shown under which of the following head in the balance sheet of the company ?
A:-unsecured loan
B:-miscellaneous expenditure
C:-reserves and surplus
D:-secured loan
Correct Answer:- Option-C
Question61:-A company issued 1000 share of Rs 10 each at a discount of 20%. If all money due on the shares were
collected , the balance shown by the capital account of the company would be
A:-Rs.8,000
B:-Rs.12,000
C:-Rs.10,000
D:-none of these
Correct Answer:- Option-C
Question62:-which among the following is the purpose for which securities premium can not be utilized ?
A:-redemption of preference shares
B:-Buy back of shares
C:-Issue of bonus shares
D:-write of preliminary expenses
Correct Answer:- Option-A
Question63:-which among the following is not a divisible profit ?
A--forfeited shares account
B:-general reserve
C:-profit and loss account credit balance
D:-workmen compensation fund
Correct Answer:- Option-A
Question64:-Escrow account is related to
A:-accounting for amalgamation
B:-buy back of shares
C:-redemption of debenture
D:-redemption of preference shares
Correct Answer:- Option-B
Question65:-which among the following is not a below the line item ?
A:-corporate dividend tax
B:-proposed dividend
C:-transfer to reserve