KERALA PSC ACCOUNTS OFFICER EXAM PREVIOUS QUESTION PAPER 2015
-KERALA CO OPERATIVE MILK MARKETING FEDERATION LTD
1."Business unit is separate and distinct from the person who supply capital" is based on :
A) Money measurement concept
B) Going concern concept
C) Accounting entity concept
D) Dual aspect concept
2.Mr A purchased a machinery costing Rs 1,00.000 on 1st november 2013. transpotation and installation charges were incurred amounting Rs 10,000 and Rs 4,000 respectively. dismantiling charges of the old machine was Rs 10,000. market value of the new machine was estimated at Rs 1,20,000 on 1st march 2014. while preparing final accounts. A values the machinery at Rs 1,20,000 in his books. which of the following concepts was violated by A ?
A) Cost concept
B) Matching concept
C) Realisation concept
D) Periodicity concept
3. A company wishes to earn 20% profit margin on selling price ------------ is the profit make up on cost, which will achieve the required profit margin
A)33%
B) 25%
C)20%
D) None of these
