Banking Officer Exam Template With Answers Page 20
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29Bank of India Banking Officer Paper – 2017 (Practice Set)
d. Real, personal, nominal
127. The manager of the firm is entitled to 10%
commission on profits before charging such
commission. He earns a commission of Rs.20000
on the profit. The profit before charging this
124. A firm has a liability on account of disputed
commission is:
claim made by another firm. This will be shown
as:
a. 200000
a. Intangible liabilities
b. 218000
b. Fictitious liabilities
c. 220000
c. Current liabilities
d. 222000
d. Contingent liabilities
128. Stock of Rs. 4000 is destroyed by fire. It was
125. Which of the following in not an operating
fully covered by insurance. Accounting entry is:
Expenses
a. Dr. Stock A/c 4000, Cr. Trading A/c 4000
a. Advertisement Expenses
b. Dr. P & L A/c 4000, Cr. Trading A/c 4000
b. Depreciation Expenses
c. Dr. Insurance Claim 4000 Cr. Trading A/c 4000
c. General manager salary
d. Dr. Trading A/c 4000, Cr. Insurance Claim A/c
d. Loss on sale of motor car
4000
126. M/s XYZ has the outstanding debtors of
129. X gets a car on hire purchase basis costing
Rs.50000. it has bad debts of Rs.2000 and
Rs.250000. The down payment is Rs.50000. The
provision for bad debts at Rs.3000. Due to
balance is to be paid in 24 monthly instalments at
problems in the industry, the firm decides to
10% rate of interest. The EMI would be:
make provision @ 7.5%. The additional provisions
will be:
a. Rs.11500
a. 750
b. Rs.11000
b. 2750
c. Rs.10000
c. 3750
d. Rs.9500
d. 5750
Page 20
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