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Accounting and Financial Management Questions

JAIIB Exam Study Material: Accounting and Financial Management Questions

Accounting and Finance for Banking

Sanctioned limit Rs 3.0lakhs. Stocks Rs 6.0 lakhs, creditors Rs 2.0 lakhs, Mortgage of property Rs 50 lakhs. Margin 30%.calculate DP
a. 3 lakhs
b. 5 lakhs
c. 2 lakhs
d. 4.2 lakhs


Which of the following accounts will have a balance on the credit side?

a. Carriage Outwards account
b. Motor vehicles account
c. Return Outwards account
d. Carriage Inwards account

Bank reconciliation is a statement prepared to reconcile ......

a. Trial balance
b. Cash book
c. Bank A/c
d. Cash as per cash book with bank balance as per bank pass book

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Which of the following is not an Asset?
a) Stock of stationery
b) Goodwill
c) Profit and Loss Account (Credit Balance).
d) Accounts Receivable

From the following which is method for the preparation of Trial Balance ......

a. Balance Method
b. Total Method
c. Total-cum-Balance Method
d. All of the above


Payment received from Debtor
a) Decreases the Total Assets
b) Increases the Total Assets
c) Results in no change in the Total Assets.
d) Increases the Total Liabilities

Omission of paise and showing the round figures in financial statements is based on
a) Conservatism Concept
b) Consistency Concept
c) Materiality Concept.
d) Realization Concept

Which of the following statements is/are true?
(i) Drawings Account is a Nominal Account
(ii) Capital Account is a Real Account
(iii) Sales Account is a Nominal Account
(iv) Outstanding salaries account is a Nominal Account
(v) Patents Account is a Personal Account
(a) Only (i) above
(b) Only (iii) above.
(c) Both (ii) and (iii) above
(d) Both (ii) ,(iv) and (v)above

Revenue receipts are shown in ......

a. Balance Sheet
b. Profit and Loss appropriation A/c
c. Manufacturing A/c
d. Trading and Profit and Loss A/c

Which of the following statements is/are true?
(i) Cash Book records all cash receipts and cash payments
(ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit
(iii) Cash Book records discount on Cash Payments
a) Only (i) above
b) Only (ii) above
c) Only (iii) above
d) Both (i) and (iii) above.

Which of the following is an example of Personal Account?
a) Machinery
b) Rent
c) Cash
d) Creditor.

Travelling expenses of directors for a trip abroad for purchasing a new Machinery.
1. Capital expenditure
2. Deferred revenue expenditure
3. Revenue expenditure
4. Current expenditure

Summary of XYZ co, current liabilities (in crores) cash credit 3300, Trade creditors 9500, other current liabilities 2000, Total current liabilities 14700. Current assets (in crores) cash 5000 Inventory 14000 Debtors 4200 other current assets 2000. Total current assetes 25200. Find out current ratio
a. 1.61
b. 1.71
c. 1.81
d. 1.91

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