TNPSC Cost Accountancy 05 May 2019 Question Paper with Answers Key

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TNPSC Cost Accountancy 05 May 2019 Question paper with Answers Key- TNPSC conducted Accounts Officer, Class-III in the Tamil Nadu Treasuries Accounts Service exam on 05 May 2019 FN from 10.00 AM to 12.30 PM. Here we are providing some of the questions asked in TNPSC Cost Accountancy Paper.

The maximum amount of deduction allowed U/S B0 C is?

Rs. 1,50,000

A Hire-purchase agreement is a?

Bailment plus an agreement to sell

Du Pont control chart depicts ……..?

Factors affecting overall profitability

Retained earnings statement depicts?

Appropriation of profits

The instruments which is not entitled to ‘days of grace’ is?

A cheque

…….. are goods which are chargeable to duty and on which duty has not been paid?

Dutiable goods

…………… person is not liable for registration under CGST Act 2017?

An agriculturist

The case of Cox Vs Hickman (1860) 8 H.L.C, 268 deal with?

Test of Partnership

If an act requires legal authority and is done with such authority it refers to?

Intra vires

An agreement to sell specific goods becomes void if …….?

Goods damaged before transfer of property to buyer

TNPSC Cost Accountancy 05 May 2019Paper

Marginal costing is also known as?

Variable Costing

Transposition of figure is an error of?

Commission

Profitability index may be?

either gross profitability index or net profitability index

Net present value is a popular method, in ……?

Discounted cash flow methods

Which accounting standard lays down standards on terms of engagement?

AAS 26

The bigger benefits are preferable to smaller ones is not the guiding principle of?

Payback period method

In case of audit of Hospitals, the auditor shall examine?

The aids, grants, legacies and donations, sale of old machines, rents from shops

The minimum stock level is calculated as?

Reorder level – (Norm.al consumption x Normal delivery time)

According to IAS 2, the inventories should be valued at?

Historical cost or net realisable value which ever is less

The types of costs are usually involved in inventory decision except?

Machining cost

Cost Accountancy

TNPSC Cost Accountancy 05 May 2019Questions and answers

DFHI means?

Discount and Finance House of India

Stock at the end results in?

Source of funds

Composite unit is a distinctive features of?

Operating Costing

Gang composition variance is a sub-variance of?

labour efficiency vaccine

Operating cost is more useful in ………?

Service Industries

An increase in the share premium account is shown in?

sources of funds

In lodging houses, costs are expressed. in terms of?

Room Day

Margin of safety is the difference between ……….?

Actual sales and Break-even sales

Raising more capital than actual requirement denotes situation of?

Over capitalization

When the margin of safety is 20% and P/V’ratio is 60Yo, the profit will be?

12%

Which formula is used for calculating material cost variance?

SQ x SP – AQ x AP

TNPSC Cost Accountancy 05 May 2019paper with Key

Profit/Profit-volume ratio is need to find out?

Margine of Safety

In which methods sales variances are calculated?

With reference to turnover and profits

In standard costing uncontrollable variances arises due to?

Increase in prices of materials

As per AS- 14 – the pooling of interest method is specially applied for?

Amalgamation in the nature of merger

A non-trading organisation prepares ……….. to show the cash transactions?

Receipts and Payments account

In Life Insurance revenue account, schedule 4 is named as?

Benefits paid

What is the nature of relationship of Plan, Do, Check and Act under PDCA?

all are interdependent

Which one is also known as Building people before building car?

PDCA-Plan-Do-Check – Act

Death cum Retirement Gratuity received by a Government employee is?

Fully exempted

The rate of income tax on income of partnership firm assessed as firm is?

30%

TNPSC Cost Accountancy Answers Key05 May 2019

Sale made on a counter of a shop is ………?

Absolute sale

……… the appropriate year for the sale of Goods Act?

1930

The term goods under the sale of Goods Act does not include?

Auctionable claims

How many benefits are available under E.S.I. Act?

Six

Cost accounting deals primarily with?

Ascertainment of cost

The term financial analysis includes?

Both analysis and interpretation

Input tax credit set off for CGST will be taken for taxes allowed against?

Centre only

In computing income from profession, gifts received from clients/patients are?

Taxable professional income

By what name an Indian company’s residential status is called?

Resident

Refreshment provided by an employer to all employees during office hours is a?

Perquisite – not texable

Permissible limits of exposure of chemical and toxic substances is dealt by?

Sec 41 – F of the Factories Act

TNPSC Cost Accountancy 05 May 2019 Full Question Paper& Key

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