Accounting Question Paper SET 1 (Model Question)

Name any two office procedures related to decision-making.

When was Nepal Rastra Bank established?

What is indirect tax?

How do you record outstanding salary expenses at the end of a year in the final accounts?

Write any two names of government offices that use central level accounting.

What is revenue accounting system?

Write any two importance of store accounting.

Prepare the retention journal voucher at the time of receipt on cash.

What is fund?

Which is the apex auditing body in Nepal?

How does the use of computers in accounting help in cost control?

Mention the aspects to be considered while preparing a report.

Why do business organizations use accounting? Explain.

A passbook of a business firm showed a bank balance of Rs. 65,000/-. While making comparison with cash book, the following discrepancies were found:

(a) Cheque issued but not presented for payment of Rs. 12,000/-.

(b) Cheque deposited but not collected by the bank of Rs. 8,000/-.

(c) Bank charge debited only in passbook of Rs. 1,500/-.

(d) Interest on investment recorded only in passbook of Rs. 6,000/-.

(e) A customer directly deposited an amount of Rs. 9,000/- into the bank but not recorded in cash book.

Required: Bank reconciliation statement

The following errors were detected before preparation of trial balance:

(a) House rent paid of Rs. 5,000/- was wrongly debited to wages paid account.

(b) Salary paid to Ram of Rs. 7,000/- was wrongly debited to Ram's account.

(c) Purchase of machinery of Rs. 20,000/- was debited as Rs. 2,000/- in the machinery account.

(d) Sales book under recorded by Rs. 5,000/-.

Required: Entries for rectification

Introduce the alphabetical filing and mention its any four advantages and disadvantages.

Explain any five bases of government accounting in Nepal.

Prepare a statement of expenditure of District Police Office, Sindhuli for the month of Poush 2080.

• Uncleared advance on travelling expenses Rs. 3,000/-.

Write any five functions of the Ministry of Finance.

Introduce retention accounting. Mention any three conditions in which retention should be kept.

Write in brief about information technology systems used in Nepal's government accounting.

Introduce the financial institutions. Describe its five functions.

• The following are the particulars extracted from the trader for the year ended 30 Chaitra, 2080:

• Additional information:

  • (a) Closing stock Rs. 35,000/-

  • (b) Outstanding salary Rs. 5,000/-

  • (c) Depreciation on furniture @ 10%

• Required: (a) Trading account,

• (b) Profit and loss account,

• (c) Balance sheet

The following are the transactions of District Coordination Unit, Gorkha:

• (a) 2080/04/05: Issued payment order of Rs. 30,000/- for purchasing office materials.

• (b) 2080/04/12: Issued payment order of Rs. 50,000/- for payment of house rent to house owner Mr. Chitrakar.

• (c) 2080/04/14: Advance given to Section Officer Mrs. Rajani Silwal Rs. 25,000/- for the purpose of travelling expenses.

• (d) 2080/04/25: Issued payment order for employees' remuneration of Rs. 4,40,000/- (including provident fund) as per rule after deducting income tax Rs. 3,000/-, and Citizen Investment Trust Rs. 10,000/- and social security tax Rs. 4,000/- for the month of Shrawan.

• (e) 2080/04/26: The amount deducted from employee's salary for the month of Shrawan was deposited in the concerned office.

Prepare a bank cash book from the following transactions of District Administration Office, Rasuwa:

(a) 2080/09/01: Issued payment order of Rs. 10,000/- for house rent.

(b) 2080/09/05: Advance for office furniture purchase provided to Kharidar Mr. Rai of Rs. 50,000/-.

(c) 2080/09/15: The advance of Kharidar Mr. Rai has been cleared on the basis of furniture purchase bill of Rs. 45,000/-.

(d) 2080/09/25: Salary payment order for the month was issued after deducting provident fund as per government rule and income tax of Rs. 2,000/- out of total salary Rs. 2,20,000/-.

(e) 2080/09/29: Received payment release through Treasury and Comptroller Office for the different expenditures made for the month of Poush.