SSC CGL 2020 (Finance and Accounting) Previous Year Paper (28-Jan-2022)

Question 1

A state of deterioration, damage done to a building or other property during tenancy can be referred to as:

Accepted Answer

dilapidation

Answer

depreciation

Answer

depletion

Answer

obsolescence

Question 2

The generally acceptable accounting principles (GAAP) fulfill the conditions of(i) Relevance(ii) Objectivity(iii) Feasibility

Accepted Answer

(i), (ii) and (iii)

Answer

Only (i) and (ii)

Answer

Only (ii)

Answer

Only (i)

Question 3

Which of the following options is a revenue expenditure?

Accepted Answer

Incurred expenditure of ₹25,000 on varied advertisement campaigns undertaken yearly, on a regular basis, during the peak festival season.

Answer

Wages paid to own employees for building the foremen's offices.

Answer

Materials purchased for extension to foremen's offices in the factory.

Answer

Carriage of Rs. 7,500 spent on machinery purchased and installed.

Question 4

A credit balance in the bank passbook indicates a/an ___________ balance and a debit balance in the cash book indicates a/an ____________ balance.

Accepted Answer

favourable; favourable

Answer

favourable; overdraft

Answer

overdraft; favourable

Answer

overdraft; overdraft

Question 5

The cost of goods sold is equal to:

Accepted Answer

Opening stock + Purchases - Closing stock + Direct expenses

Answer

Opening stock + Purchases - Closing stock - Direct expenses

Answer

Opening stock + Purchases + Closing stock + Direct expenses

Answer

Opening stock - Purchases - Closing stock + Direct expenses