SSC CGL Tier-2 14th September 2018 AAO

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For the following questions answer them individually
SSC CGL Tier-2 14th September 2018 AAO - Question 3

According to the ____ concept of accounting, the life of the business is divided into appropriate segments for studying the results shown by the business after each segment.

SSC CGL Tier-2 14th September 2018 AAO - Question 6

Under ____ method of Inventory valuation, the issues of materials are made at the price of materials or goods which have been ordered but not yet received.

SSC CGL Tier-2 14th September 2018 AAO - Question 9

_____ system of depreciation is followed in case of those assets which are of small values or where the life of the asset cannot be ascertained with certainty.

SSC CGL Tier-2 14th September 2018 AAO - Question 10

If a machine (having a scrap value of Rs.1,000) is purchased for Rs.10,000 and it has an effective life of 10 years of 1000 hours each, what will be the amount of depreciation per hour?

SSC CGL Tier-2 14th September 2018 AAO - Question 11

The ____ concept of accounting presumes that an enterprise will continue in operation long enough to charge against income, the cost of fixed assets over their useful lives, to amortize over appropriate period other costs which have been deferred under the actual or matching concept, to pay liabilities when they become due and to meet the contractual commitments.

SSC CGL Tier-2 14th September 2018 AAO - Question 12

The ______ of a Non-Profit Organisation gives a list of revenue receipts (for past, current and future periods) as well as capital receipts.

SSC CGL Tier-2 14th September 2018 AAO - Question 13

If the two sides of the Trial Balance tally, it is an indication that ____.

SSC CGL Tier-2 14th September 2018 AAO - Question 14

In case of a Bill of Exchange, ‘Legal Due Date’ is a date which is arrived after adding three days of grace in the _____.

SSC CGL Tier-2 14th September 2018 AAO - Question 16

Which one of the following is a revenue expenditure?

SSC CGL Tier-2 14th September 2018 AAO - Question 21

What will be the amount of credit purchases, if the opening balance of creditors is Rs.7,600; cash paid to creditors Rs.20,000; discount allowed by them Rs.500; Returns Outward are Rs.2,400; Bills payable accepted Rs.4,600 and the closing balance of creditors is Rs.9,500?

SSC CGL Tier-2 14th September 2018 AAO - Question 23

A club received Rs. 40,000 as subscriptions during the year 2018-19 of which Rs.6,000 relate to year 2017-18 and Rs.4,000 to 2019-20, and at the end of the year 2018-19 Rs.12,000 are still receivable. What will be the income from subscriptions for the year 2018-19?

SSC CGL Tier-2 14th September 2018 AAO - Question 24

When a number of transactions on the same date or relating to one particular account/nature are recorded by means of a single journal entry, such an entry is called as ____.

SSC CGL Tier-2 14th September 2018 AAO - Question 25

If the account of Mr.Jay was debited by Rs.495 instead of being credited by Rs.459, the rectification will be done by_____.

SSC CGL Tier-2 14th September 2018 AAO - Question 26

The technique of finding out the net balance of a ledger account, after considering the totals of both debit and credit sides, is known as _____.

SSC CGL Tier-2 14th September 2018 AAO - Question 28

Which one of the following is a limitation of Financial Accounting?

SSC CGL Tier-2 14th September 2018 AAO - Question 29

In case of a Partnership Firm, a _____ is prepared to show the distribution of profits among different partners.

SSC CGL Tier-2 14th September 2018 AAO - Question 31

In periods of rising prices, ____ method of inventory valuation will result in production being relatively undercharged.

SSC CGL Tier-2 14th September 2018 AAO - Question 34

The original cost of an asset is Rs.1,00,000 with an estimated scrap value of Rs.16,000 at the end of its useful life of 5 years. The depreciation on the asset for its whole life is Rs.84,000, what will be the amount to be charged to the Profit & Loss A/c, if the Sinking Fund table shows that Re.0.180975 if invested yearly @5 % p.a. produces Re.1 at the end of 5 years?

SSC CGL Tier-2 14th September 2018 AAO - Question 35

Errors committed because of failure to make a proper distinction between revenue and capital items are called ____.

SSC CGL Tier-2 14th September 2018 AAO - Question 36

If a firm purchases 100 units of goods on 1st Jan.@ Rs.4 p.u; 200 units on 8th Jan. @ Rs.5 p.u., 200 units on 24th Jan.@ Rs.6 p.u., and sold 200 units on 31st Jan, What will be the value of inventory sold on 31st Jan. according to the Weighted Price method when the firm follows Periodic Inventory System?

SSC CGL Tier-2 14th September 2018 AAO - Question 37

The objective of preparing a Bank Reconciliation Statement is to _____.

SSC CGL Tier-2 14th September 2018 AAO - Question 38

If the balance as per Cash Book is Rs.5,800; cheques amounting to Rs.2,000 are issued but not yet presented; cheques of Rs.1,500 sent for collection, but not yet collected, and amount of Rs.200 is wrongly debited by the bank, what will be the balance as per Pass Book?

SSC CGL Tier-2 14th September 2018 AAO - Question 39

According to Section 5 of the Negotiable Instruments Act, 1881, a _____ is defined as, an instrument in writing containing an unconditional order, signed by the maker, directing a certain person, to pay a certain sum of money only to, or to the order of, certain person or to the bearer of the instrument.

SSC CGL Tier-2 14th September 2018 AAO - Question 40

Which one of the following entry will be passed for ‘credit sales’ under self balancing ledger system?

SSC CGL Tier-2 14th September 2018 AAO - Question 41

The Central Government has amalgamated three Regional Rural Banks - Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank into a single RRB with effect from.

SSC CGL Tier-2 14th September 2018 AAO - Question 42

Find out the best possible option which describes the formula to obtain Gross National Product.

SSC CGL Tier-2 14th September 2018 AAO - Question 44

The quantity of demand by virtue of which it changes (increases or decreases) when ___changes (decreases or increases) is called Elasticity of Demand.

SSC CGL Tier-2 14th September 2018 AAO - Question 45

Which among the following is the main measuring scale to map the economic growth of a country?

SSC CGL Tier-2 14th September 2018 AAO - Question 46

Indifference curve theory states that:

SSC CGL Tier-2 14th September 2018 AAO - Question 50

As per the 2018-19 data published by the Ministry of Statistics & Program Implementation, the share of agriculture & allied sector is _____ % to the Gross Value Added in India.

SSC CGL Tier-2 14th September 2018 AAO - Question 56

The MRTP Act was repealed and replaced by the ___, with effect from September 1, 2009

SSC CGL Tier-2 14th September 2018 AAO - Question 59

According to ____ method of measuring national income, the national income consists of measuring the output of all producers and to deduct from this total the intermediate purchases.

SSC CGL Tier-2 14th September 2018 AAO - Question 60

An important financial reform has been the reduction in Statutory Liquidity Ratio (SLR)which was as high as 39 per cent of deposits with the banks has been reduced to ____ per cent as on August, 2019

SSC CGL Tier-2 14th September 2018 AAO - Question 62

Which one of the following is a primary function of commercial banks?

SSC CGL Tier-2 14th September 2018 AAO - Question 63

Functions of Comptroller and Auditor-General in the Case of Grants or Loans given to other Authorities or Bodies are specified in Section ____ of The Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Amendment ACT, 1971.

SSC CGL Tier-2 14th September 2018 AAO - Question 65

The ______is/are constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.

SSC CGL Tier-2 14th September 2018 AAO - Question 67

The problem of choice arises on account of the pressure of three interrelated facts, viz, human wants are unlimited, means required to satisfy these wants are limited and ______.

SSC CGL Tier-2 14th September 2018 AAO - Question 69

"What to produce?" is a basic problem faced by an economy under which of the following central problem?

SSC CGL Tier-2 14th September 2018 AAO - Question 70

For the first time in the history of Indian planning there was an attempt to move beyond empowerment and recognize women as agents of sustained socio-economic growth and change, in the ____ Five Year Plan.

SSC CGL Tier-2 14th September 2018 AAO - Question 71

Which one of the following is a function of Finance Commission of India?

SSC CGL Tier-2 14th September 2018 AAO - Question 73

The law of ___ states that, other things remaining the same, the quantity supplied of a commodity is directly or positively related to its price.

SSC CGL Tier-2 14th September 2018 AAO - Question 78

The ____ is vested with the responsibility of conducting monetary policy of India.

SSC CGL Tier-2 14th September 2018 AAO - Question 80

In ____, India has signed an open sky agreement with Australia allowing airlines on either side to offer unlimited seats to six Indian metro cities and various Australian cities.

SSC CGL Tier-2 14th September 2018 AAO - Question 81

______refers to the willingness and ability of consumers to purchase a given quantity of a good or service at a given point in time or over a period in time.

SSC CGL Tier-2 14th September 2018 AAO - Question 82

______ is the portal which assists the corporate sectors in India with regard to the filing of various compliances in a seamless and transparent manner.

SSC CGL Tier-2 14th September 2018 AAO - Question 86

When even a negligible fall in the price of the commodity leads to an infinite extension in the demand for it, it is called ____.

SSC CGL Tier-2 14th September 2018 AAO - Question 88

According to ____ theory, a consumer will continue to buy such products that will deliver him the most utility or maximum satisfaction at relative prices.

SSC CGL Tier-2 14th September 2018 AAO - Question 89

In 2005, a expert group was constituted by the Planning Commission to review methodology for poverty estimation. It was chaired by_____.

SSC CGL Tier-2 14th September 2018 AAO - Question 90

While measuring the National Income, in order to avoid double counting of value of goods in computing GDP,the Final Goods Approach and the ____ is used.

SSC CGL Tier-2 14th September 2018 AAO - Question 92

________ is a kind of unemployment in which there are people who are visibly employed but are actually unemployed or not utilizing their proper skills to its maximum level.

SSC CGL Tier-2 14th September 2018 AAO - Question 94

The ____ is a hypothetical representation of the amount of two different goods that can be obtained by shifting resources from the production of one, to the production of the other.

SSC CGL Tier-2 14th September 2018 AAO - Question 97

_____ may be defined as a market situation in which market price is largely determined by the forces of total demand and total supply in the market.

SSC CGL Tier-2 14th September 2018 AAO - Question 98

The curve of production possibility is concave in nature because of _____.

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