Hello, I want to apply for the Account Test for Executive Officers of TNPSC, and I want its paper.

Hello, here I am providing you the paper of the Account Test for Executive Officers TNPSC as under:

1)
We can say that the business is in profit, when:
A) Assets exceed Expenditure
B) Income exceeds Liabilities
C) Income exceeds Expenditure
D) Income exceeds Liabilities

2)
According to the double entry system of accounting, an account that obtains benefit is:
A) Credit
B) Debit
C) Income
D) No need to show as accounting record

3)
Term "Credit" means_______ by the business.
A) Receiving of benefits
B) It has no effect on business
C) Providing of benefits
D) It depends upon items

4)
When a Liability is reduced or decreased, it is recorded on the:
A) Left or credit side of the account
B) Right or debit side of the account
C) Right or credit side of the account
D) Left or debit side of the account

5)
When Capital is increased by an amount, it is recorded on the:
A) Right or debit side of the account
B) Left or credit side of the account
C) Left or debit side of the account
D) Right or credit side of the account

6)
What type of expenses are paid out of Gross Profit?
A) General Expenses
B) Financial Expenses
C) Selling Expenses
D) All of the given options

7)
Which of the following shows summary of a company's financial position at a specific date?
A) Profit & Loss Account
B) Cash Flow Statement
C) Balance Sheet
D) Income & Expenditure Account

8)
Which of the following is NOT an example of intangible assets?
A) Franchise rights
B) Goodwill
C) Patents
D) Land

9)
Which of the following is an example of business liability?
A) Land
B) Building
C) Cash
D) Creditors

10)
The unfavorable balance of Profit and Loss account should be:
A) Added in liabilities
B) Subtracted from current assets
C) Subtracted from capital
D) Subtracted from liabilities

11.
The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the
Balance Sheet Income Statement Statement Of Cash Flows

12.
The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the
Balance Sheet Income Statement Statement Of Cash Flows

13.
Under the accrual basis of accounting, revenues are reported in the accounting period when the
Cash Is Received Service Or Goods Have Been Delivered

14.
Under the accrual basis of accounting, expenses are reported in the accounting period when the

Cash Is Paid Expense Matches The Revenues Or Is Used Up

15. Revenues minus expenses equals __________.

16. Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as __________.

17.
Assets are usually reported on the balance sheet at which amount?
Cost Current Market Value Expected Selling Price

18. Obligations (amounts owed) are reported on the balance sheet and are referred to as __________.

19. Liabilities often have the word __________ in their account title.

20.
Unearned Revenues is what type of account?
Asset Liability Stockholders' (Owner's) Equity

Account Test for Executive Officers TNPSC