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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 Commerce' And exam conducted in the year 2023. And Question paper code was '092/2023'. 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.
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092/23
The Indian Accounting Standard for Investment in Associates and Joint Ventures is
detailed in
A) IND-AS: 28 B) IND-AS: 20 C) IND-AS: 12 D) IND-AS: 10
What is meant by contributory in liquidation of Limited company ?
A) Secured Debenture holder
B) Creditors
C) Partly paid up Equity shareholder
D) Preference shareholder
When purchasing company pays purchase consideration, the consideration is
debited to
A) Liquidator of Vendor Company’s Account
B) Liquidator of Purchasing Company’s Account
C) Business Purchase Account
D) Equity Shareholder’s Account
The profit on reissue of forfeited shares is transferred to
A) Reserve fund B) Forfeited share account
C) General reserve D) None of the above
If the rate of Gross loss on sales is 20% and the cost of goods sold is Rs. 1,20,000,
What is the amount of sales ?
A) Rs. 1,50,000 B) Rs. 1,44,000
C) Rs. 1,00,000 D) Rs. 96,000
Bad debts written off previously, if recovered subsequently
A) Credited to profit and loss account
B) Credited to provision account
C) Credited to debtors’ account
D) Debited to profit and loss account
Assets are recorded at their original purchase price according to the
A) Business entity principle B) Consistency principle
C) Materiality principle D) Historical cost principle
Who will oversee the Corporate Insolvency Resolution Process ?
A) Company Law Board B) Board of Directors
C) Resolution Professional D) SEBI
Which of the following is an example of a short-lived asset not subject to inflation
accounting ?
A) Goodwill B) Land
C) Inventory D) Debtors