SSC CGL Tier-2 28th January 2022 Assistant Audit Officer

Instructions

For the following questions answer them individually

Question 21

The methods of depreciation prescribed by the sec 32 of the Income Tax Act 1961, are:
i) Units of production method
ii) Written down value method
iii) Sum of years' digits method

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Question 22

Which of the following statements is true in the context of capital and revenue expenditure?

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Question 23

A not-for-profit organisation pays a rent for the building as ₹1.000 per month. However, the rent for the last two months has not been paid. What will be the amount shown in the receipt & payment account and income & expenditure account, respectively?

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Question 24

Which of the following statements is INCORRECT in the comext of Not-for-profit organisations?

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Question 25

The bank passbook of Mr. P showed a credit balance of ₹924 as on 31 March 2021 . When checked with cashbook the fllowing points were noted.
1. Payment of a utility bill of ₹200 as per Mr. p's standing instructions was made, which was not retlec1ing in the
cash book.
2. A cheque of ₹65 deposited in the bank on 28 March 2021 was not cleared till 4 April 1021.
3. Cheque drawn by and posted to a parry for ₹46 by Mr. P on 31 March 2021 was presented to the bank on 12
April, 2021.
What will be the bank balance as per cash book as on 31 March 2021?

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Question 26

Cost of goods sold is equal to:

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Question 27

When manufacturing and trading accounts are prepared separately, manufacturiring account deals with:

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Question 28

The general acceptable accounting principles (GAAPs) fillfils the conditions of
(i) Relevance
(ii) Objectivity
(iii) Feasibility

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Question 29

Match the following accounting concepts with the meaning/implications.

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Question 30

Which of the following options is a revenue expenditure?

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