Kerala PSC Previous Years Question Paper & Answer
Page:5
Below are the scanned copy of Kerala Public Service Commission (KPSC) Question Paper with answer keys of Exam Name 'Finance Manager' And exam conducted in the year 2023. And Question paper code was '119/2023/OL'. Medium of question paper was in Malayalam or English . Booklet Alphacode was ''. 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.
D:-Preparation of final accounts
Correct Answer:- Option-D
Question23:-Which of the following constitutes the element under performance
audit?
A:-Economy
B:-Effectiveness
C:-Efficiency
D:-All of the above
Correct Answer:- Option-D
Question24:-According to Sec 2(24) of income Tax Act 1961 which of the following
is/are included in the income of an assessee
(1) Profit and Gains
(ii) Value of any perquisite in lien of salary
(iii) Refund of customs or excise duty
(iv) Consideration for issue of shares
A:-(i) and (ii) only
B:-(i), (ii) and (iii) only
C:-(i), (ii) and (iv) only
D:-All of the above
Correct Answer:- Option-D
Question25:-Which of the following incomes are exempted from Tax according to
section 10 of the Income Tax Act 1961
(1) Income of a foreign company
(ii) Income of a consultant
(iii) Compensation on disaster
(iv) Short term capital Garn
A:-(ii) and (iii) only
B:-(i), (ii) and (iii) only
C:-(ii), (iii) and (iv) only
D:-None of these
Correct Answer:- Option-B
Question26:-The following details are related to a house
Rs.
Municipal value 1,00,000
Fair rental value 1,20,000
Standard Rent 1,25,000
Actual Rent 1,15,000
The Gross Annual value (GAV) of the house is
A:-Rs. 1,25,000
B:-Rs. 1,20,000
C:-Rs. 1,00,000