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SOLVED QUESTION - KERALA PSC EXAMINATIONS



1. Form the following which society is exempted from the payment audit fee : Coir Co-operative Societies


2. The purchase journal contains : Credit purchase of merchandise


3. Which of the following is correct : Capital=Assets-Liabilities


4. Which of the following error will not affect the trial balance : Writing an amount in wrong account but on the correct side


5. Which accounting concept states that every change in resources brings about equal changes in equities : Dual aspect concept


6. On purchase of old furniture, Rs.2000 is spent for its repair should be debited to : Furniture Account


7. Payment of liability result in : Decrease in total asset


8. Which of the following account is a personal account : Rent outstanding account


9. A’s Trial Balance contains the following information - Bad debit:Rs.2000/- , Provision for bad debt:Rs.2,500/- , It is desired to make a provision for bad debt of Rs.3,000 at the end of the year. The amount to be debited to the profit and loss amount is : 2500/-


10. B’s Capital on January, 2006:Rs.50,000, Interest on drawing:Rs2,000, Interest on capital:Rs5,000, Drawings.Rs.20,000, Profit for the year:Rs.10,000, His capital at December 2006 is : 43,000/-




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