[Download PDF] NICL Administrative Officer (AO) Finance Exam 2013 Question paper Paper with Solutions

Instructions

For the following questions answer them individually

Question 31

Closing stock is valued at cost or market price, whichever is

Video Solution

Question 32

A company’s auditor is expected to give

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Question 33

Name of the board set up by the council of the ICAI to formulate accounting standards.

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Question 34

What does net working capital stand for ?

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Question 35

Identify the items shown under fixed assets in the company’s balance sheet.
A: Patents
B: Investments
C: Work-in-progress
D: Plant and machinery

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Question 36

The company pays its creditors by cheque. What is the effect on assets and liabilities?

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Solution

The company pays its creditors by cheque. Then the effect on assets and liabilities is Reduce Bank and Reduce Creditors respectively.

Question 37

Provision for doubtful debts account is a_____ account.

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Question 38

According to Companies Act when the dividend proposals exceed 20% of the Paid Up Capital, the amount to be transferred to reserve shall not be less than

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Question 39

In the balance sheet audit, such audit work as vouching and posting

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Question 40

A person insures his goods worth Rs. 1,000 for Rs. 800 and suffers a loss of Rs. 900. His claim can be for

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CAT Content

NICL Administrative Officer (AO) Finance Exam 2013 Question paper

NICL Administrative Officer (AO) Finance Exam 2013 Question paper

Closing stock is valued at cost or market price, whichever is

A company’s auditor is expected to give

Name of the board set up by the council of the ICAI to formulate accounting standards.

What does net working capital stand for ?

Identify the items shown under fixed assets in the company’s balance sheet.A: PatentsB: InvestmentsC: Work-in-progressD: Plant and machinery

The company pays its creditors by cheque. What is the effect on assets and liabilities?

Provision for doubtful debts account is a_____ account.

According to Companies Act when the dividend proposals exceed 20% of the Paid Up Capital, the amount to be transferred to reserve shall not be less than

In the balance sheet audit, such audit work as vouching and posting

A person insures his goods worth Rs. 1,000 for Rs. 800 and suffers a loss of Rs. 900. His claim can be for

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Identify the items shown under fixed assets in the company’s balance sheet.
A: Patents
B: Investments
C: Work-in-progress
D: Plant and machinery