Q1. Which accounting concept states that a business is a distinct entity from its owners?

1. Going Concern Concept
2. Business Entity Concept
3. Money Measurement Concept
4. Dual Aspect Concept

Answer: b

Solution: The Business Entity Concept treats the business and its owners as two separate entities. This is why capital contributed by the owner is treated as a liability for the business.

Q2. Goods withdrawn by the proprietor for personal use are credited to which account?

1. Sales Account
2. Drawings Account
3. Purchase Account
4. Capital Account

Answer: c

Solution: When goods are withdrawn for personal use, the 'Purchases Account' is credited because the stock of goods purchased for resale is reduced. The 'Drawings Account' is debited.

Q3. A Bank Reconciliation Statement (BRS) is prepared by:

1. The Bank
2. The Auditor
3. The Account Holder (Customer)
4. The Tax Authority

Answer: c

Solution: BRS is prepared by the account holder to reconcile the difference between the bank balance shown in the Cash Book and the balance shown in the Pass Book.

Q4. Which of the following is NOT a tangible asset?

1. Machinery
2. Goodwill
3. Building
4. Furniture

Answer: b

Solution: Goodwill is an intangible asset because it cannot be touched or seen, unlike Machinery or Buildings.

Q5. Under the Double Entry System, "Credit" signifies:

1. Increase in Asset
2. Increase in Liability
3. Increase in Expense
4. Decrease in Revenue

Answer: b

Solution: According to the rules of debit and credit, an increase in Liability, Capital, or Revenue is credited.

Q6. The trial balance is prepared to check the:

1. Profitability of the business
2. Arithmetical accuracy of ledger accounts
3. Financial position
4. Market value of assets

Answer: b

Solution: The primary purpose of a Trial Balance is to verify the arithmetical accuracy of the debit and credit postings in the ledger.

Q7. Expenditure incurred on the installation of new machinery is treated as:

1. Revenue Expenditure
2. Capital Expenditure
3. Deferred Revenue Expenditure
4. Recurring Expenditure

Answer: b

Solution: Costs incurred to bring a fixed asset into working condition (like installation charges) are Capital Expenditures and are added to the cost of the asset.

Q8. In the absence of a partnership deed, profits and losses are shared:

1. According to capital ratio
2. Equally
3. According to experience
4. According to time devoted

Answer: b

Solution: According to the Partnership Act 1932, if there is no partnership deed, profits and losses must be shared equally among partners regardless of their capital contribution.

Q9. "Outstanding Rent" is classified as which type of account?

1. Real Account
2. Nominal Account
3. Personal Account (Representative)
4. Asset Account

Answer: c

Solution: Outstanding Rent represents the amount payable to the landlord (a person). Therefore, it is a Representative Personal Account.

Q10. GST (Goods and Services Tax) was implemented in India on:

1. 1st April 2017
2. 1st July 2017
3. 1st January 2018
4. 1st July 2016

Answer: b

Solution: GST was launched on 1st July 2017 in a historic midnight session of Parliament.

Q11. Depreciation is calculated on the:

1. Market value of the asset
2. Book value of the asset
3. Scrap value of the asset
4. Purchase price only

Answer: b

Solution: Depreciation is generally calculated on the book value (Diminishing Balance Method) or original cost (Straight Line Method) to allocate the cost over its useful life.

Q12. What is the full form of PFMS?

1. Public Fund Management System
2. Public Financial Management System
3. Private Financial Management Service
4. Public Fiscal Monitoring System

Answer: b

Solution: PFMS stands for Public Financial Management System, a web-based online software application developed and implemented by the Controller General of Accounts (CGA).

Q13. In a Cash Book, 'Contra Entry' represents:

1. Cash Sales
2. Cash deposited into Bank
3. Payment to Creditors
4. Salary Paid

Answer: b

Solution: A Contra Entry is recorded when a transaction affects both Cash and Bank columns of the Cash Book simultaneously (e.g., depositing cash into the bank or withdrawing cash for office use).

Q14. The term 'Social Audit' primarily refers to:

1. Audit of government accounts
2. Assessment of the social impact of a company's activities
3. Audit of NGOs only
4. Financial audit by society members

Answer: b

Solution: Social Audit is a process of reviewing official records to determine whether reported expenditures reflect the actual money spent on the ground and the social impact of the schemes.

Q15. Ledger is essentially a book of:

1. Original Entry
2. Final Entry
3. Adjustment Entry
4. Rough Entry

Answer: b

Solution: The Journal is the book of original entry, while the Ledger is called the book of final entry because transactions are finally classified and summarized here.

Q16. The 'J&K Reorganisation Act, 2019' came into effect on:

1. 5th August 2019
2. 31st October 2019
3. 26th January 2020
4. 15th August 2019

Answer: b

Solution: The Act came into effect on 31st October 2019, which is also the birth anniversary of Sardar Vallabhbhai Patel.

Q17. Which river is known as the 'Veth' in the local Kashmiri language?

1. Chenab
2. Jhelum
3. Ravi
4. Indus

Answer: b

Solution: The Jhelum river is locally known as 'Veth' in Kashmiri and 'Vitasta' in Sanskrit.

Q18. Who was the last ruling Maharaja of the Princely State of Jammu and Kashmir?

1. Maharaja Gulab Singh
2. Maharaja Ranbir Singh
3. Maharaja Hari Singh
4. Maharaja Pratap Singh

Answer: c

Solution: Maharaja Hari Singh was the last ruler who signed the Instrument of Accession with India on 26th October 1947.

Q19. The famous 'Martand Sun Temple' is located in which district of J&K?

1. Srinagar
2. Anantnag
3. Baramulla
4. Jammu

Answer: b

Solution: The Martand Sun Temple is an 8th-century Hindu temple dedicated to the Sun God, located near Anantnag.

Q20. 'Saffron' cultivation is associated with which type of soil in Kashmir?

1. Alluvial Soil
2. Karewa Soil
3. Red Soil
4. Laterite Soil

Answer: b

Solution: Karewas are lacustrine deposits in the Valley of Kashmir, famous for the cultivation of Zafran (Saffron).

Q21. The Hemis National Park is famous for which animal?

1. Hangul
2. Snow Leopard
3. Markhor
4. Musk Deer

Answer: b

Solution: Hemis National Park (Ladakh) is globally renowned for having the highest density of Snow Leopards.

Q22. Who wrote the famous historical text 'Rajtarangini'?

1. Kalhana
2. Bilhana
3. Abhinavagupta
4. Lalleshwari

Answer: a

Solution: Rajtarangini ("The River of Kings"), written by Kalhana in the 12th century, is a historical chronicle of the kings of Kashmir.

Q23. Which lake is known as the 'Jewel in the crown of Kashmir'?

1. Wular Lake
2. Dal Lake
3. Mansabal Lake
4. Pangong Lake

Answer: b

Solution: Dal Lake in Srinagar is often referred to as the "Jewel in the crown of Kashmir".

Q24. The 'Gulmarg' hill station was originally known as:

1. Gaurimarg
2. Khillanmarg
3. Sonamarg
4. Yusmarg

Answer: a

Solution: Gulmarg was originally named 'Gaurimarg' (the path of Devi Gauri) by shepherds before Sultan Yusuf Shah Chak renamed it.

Q25. Which pass connects Jammu with Srinagar?

1. Zojila Pass
2. Banihal Pass
3. Pir Panjal Pass
4. Burzil Pass

Answer: b

Solution: The Banihal Pass connects the Jammu region with the Kashmir Valley. The Jawahar Tunnel is constructed under this pass.

Q26. The 'Dachigam National Park' is famous for the conservation of:

1. Snow Leopard
2. Hangul (Kashmir Stag)
3. Black Bear
4. Tiger

Answer: b

Solution: Dachigam National Park is the only habitat for the endangered Hangul (Kashmir Stag).

Q27. Who is the Lieutenant Governor of Jammu and Kashmir (as of 2026 context)?

1. G.C. Murmu
2. Manoj Sinha
3. Satya Pal Malik
4. R.K. Mathur

Answer: b

Solution: Manoj Sinha took oath as the Lieutenant Governor of J&K in August 2020.

Q28. The Treaty of Amritsar (1846) was signed between the British Government and:

1. Maharaja Ranjit Singh
2. Maharaja Gulab Singh
3. Maharaja Hari Singh
4. Maharaja Pratap Singh

Answer: b

Solution: The Treaty of Amritsar formalized the sale of Kashmir to Maharaja Gulab Singh by the British for 75 lakh Nanakshahi rupees.

Q29. Which district in J&K is known as the 'City of Sufis'?

1. Srinagar
2. Budgam
3. Anantnag
4. Baramulla

Answer: b

Solution: Budgam is often referred to as the 'City of Sufis' due to the large number of shrines and Sufi saints associated with the area.

Q30. The hydroelectric power project 'Salal' is built on which river?

1. Jhelum
2. Chenab
3. Ravi
4. Tawi

Answer: b

Solution: The Salal Hydroelectric Power Station is constructed on the Chenab River in the Reasi district of J&K.

Q31. Which Vitamin is responsible for blood clotting?

1. Vitamin A
2. Vitamin C
3. Vitamin K
4. Vitamin D

Answer: c

Solution: Vitamin K is essential for the synthesis of proteins required for blood coagulation (clotting).

Q32. The SI unit of Electric Current is:

1. Volt
2. Ampere
3. Ohm
4. Watt

Answer: b

Solution: The Ampere (Symbol: A) is the SI base unit of electric current.

Q33. Which gas is primarily responsible for Global Warming?

1. Oxygen
2. Nitrogen
3. Carbon Dioxide
4. Argon

Answer: c

Solution: Carbon Dioxide (CO2) is a major greenhouse gas that traps heat in the atmosphere, contributing to global warming.

Q34. In computer terminology, 'RAM' stands for:

1. Read Access Memory
2. Random Access Memory
3. Read Anywhere Memory
4. Random Active Memory

Answer: b

Solution: RAM stands for Random Access Memory. It is the main volatile memory of a computer.

Q35. Which key combination is used to 'Paste' selected text in MS Word?

1. Ctrl + C
2. Ctrl + X
3. Ctrl + V
4. Ctrl + P

Answer: c

Solution: Ctrl + V is the universal shortcut for pasting data that has been copied to the clipboard.

Q36. What is the chemical formula for Laughing Gas?

1. NO
2. N2O
3. NO2
4. N2O3

Answer: b

Solution: Nitrous Oxide (N2O) is commonly known as laughing gas.

Q37. Which of the following is an input device?

1. Monitor
2. Printer
3. Scanner
4. Speaker

Answer: c

Solution: A Scanner is an input device used to convert hard copy documents into digital format. The others are output devices.

Q38. The hardest substance available on earth is:

1. Gold
2. Iron
3. Diamond
4. Platinum

Answer: c

Solution: Diamond is an allotrope of carbon and is known as the hardest natural substance.

Q39. One Kilobyte (KB) is equal to:

1. 1000 Bytes
2. 1024 Bytes
3. 1024 Bits
4. 1000 Bits

Answer: b

Solution: In binary systems, 1 Kilobyte (KB) equals 1024 Bytes.

Q40. Who is known as the father of the Computer?

1. Alan Turing
2. Charles Babbage
3. Bill Gates
4. Steve Jobs

Answer: b

Solution: Charles Babbage is considered the father of the computer for his design of the Analytical Engine.

Q41. Who is the father of Modern Economics?

1. Alfred Marshall
2. Adam Smith
3. Karl Marx
4. J.M. Keynes

Answer: b

Solution: Adam Smith is known as the father of modern economics, famous for his book "The Wealth of Nations".

Q42. The relationship between Price and Demand is generally:

1. Direct
2. Inverse
3. Parallel
4. No relationship

Answer: b

Solution: The Law of Demand states that, ceteris paribus, there is an inverse relationship between the price of a commodity and the quantity demanded.

Q43. The median of the series 2, 5, 8, 4, 9 is:

1. 4
2. 5
3. 8
4. 9

Answer: b

Solution: First, arrange the series in ascending order: 2, 4, 5, 8, 9. The middle value is 5.

Q44. RBI was nationalized in which year?

1. 1935
2. 1947
3. 1949
4. 1950

Answer: c

Solution: The Reserve Bank of India (RBI) was nationalized on 1st January 1949.

Q45. Probability of an impossible event is:

1. 1
2. 0
3. 0.5
4. Infinity

Answer: b

Solution: The probability of an event that cannot happen (impossible event) is always 0.

Q46. Choose the correct antonym for "Benevolent":

1. Kind
2. Generous
3. Cruel
4. Helpful

Answer: c

Solution: Benevolent means kind and well-meaning. Its antonym is Cruel or Malevolent.

Q47. Simple Interest on Rs. 1000 for 2 years at 10% per annum is:

1. Rs. 100
2. Rs. 200
3. Rs. 120
4. Rs. 210

Answer: b

Solution: SI = (P × R × T) / 100 = (1000 × 10 × 2) / 100 = Rs. 200.

Q48. Identify the tense: "She has been working here for two years."

1. Present Continuous
2. Present Perfect
3. Present Perfect Continuous
4. Past Perfect Continuous

Answer: c

Solution: "Has been + verb-ing" indicates the Present Perfect Continuous tense.

Q49. The sum of angles in a triangle is:

1. 90 degrees
2. 180 degrees
3. 360 degrees
4. 270 degrees

Answer: b

Solution: The sum of the three interior angles of a triangle is always 180 degrees.

Q50. A word used to describe an action, state, or occurrence is called:

1. Noun
2. Adjective
3. Verb
4. Adverb

Answer: c

Solution: A Verb is an action word (e.g., run, is, happen).