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Accountancy Practice Set for Preparation
1. Local audit may be distinguished from inspection in that its purpose is to audit the initial accounts maintained in certain Government institutions and offices on the ________.
2. Here the duties of audit are not confined merely to seeing whether the initial accounts are maintained in proper form or whether the financial rules are properly observed but a test audit of accounts is conducted in sufﬁcient detail to verify the accuracy and completeness of accounts according to the prescribed __________ for the audit of expenditure and receipts of the Union and State Government.
3. The object of inspection of treasuries by an Audit Ofﬁcer is to _________ the Revenue authorities in establishing a system of treasury working strictly in accordance with the prescribed rules.
(d) Pull up
4. The inspecting ofﬁcer sees that irregularities brought to notice at the previous inspection have been _____________ and that the correct procedure is being observed in respect of all matters, the procedure relating to which was considered defective previously.
5. The inspecting officer does not merely confine himself to the routine audit and inspection work. He is allotted one major work or ________minor works, whether completed or in progress, for a complete analysis and examination of these accounts since commencement.
6. The main purpose of the local audit is to conduct a test check of the accounts for a particular period to verify the __________ and correctness of accounts.
7. The periodicity, scope and extent of local audit of the departmental offices and offices of authorities and bodies whose audit of entrusted to the Comptroller and Auditor-General are determined by the ____________.
(b) Local Authority
(c) Local Body
(d) Comptroller and Auditor-General
8. An important element of local audit is the examination of __________ and efficiency of internal control procedures.
9. The initial and subsidiary accounts are examined to see that they are _________ maintained in the prescribed form; that financial rules and orders are being carried out and that adequate care and scrutiny are being exercised by the departmental ofﬁcers to ensure their accuracy.
10. The tender documents leading to the award of a contract for a work or supply of machinery, equipment, stores, etc., the contract, the design and estimates, the project feasibility report, periodical appraisal reports of a project, cost documents, papers leading to a financial sanction or decision, etc., are ______________.
11. The pay and allowances, overtime allowance claims, children’s education claims, reimbursement of tuition fees claims and T.A. Bills are ___________ with reference to the local records kept in the departmental accounts ofﬁces to satisfy about the correctness of the certiﬁcates on the basis of which the claims have been drawn and to see that the rules and regulations in regulating such claims have been followed.
12. The service books are _____________ to see that (i) a service book is maintained for every non-Gazetted Government servant, (ii) entries of all events in the ofﬁcial career of a Government servant made in the service book and attested by the competent authority, (iii) no alternation is made in the date of birth without the sanction of competent authority; entries in the front page are re-attested every ﬁve years, (iv) annual certificate of veriﬁcation of service is recorded in the service book.
13. In the service book selected for check, the correctness of pay and _________ allowed to the Government servant from time to time for the period to which the check of service book relates, is also to be checked.
(b) Grade pay
14. It is also checked that no payment has been made to a Government servant beyond his attaining the age of ___________ or on the expiry of term of extension of service sanctioned by competent authority.
(b) Quitting service
(c) Compulsory retirement
15. A test check of the leave accounts including accounts of persons likely to retire or likely to complete ______________ years of qualifying service are checked in detail.
16. As a rule, ____________ matters which, can be and have been set right on the spot or are of no consequence to the ﬁnances of Government, are not mentioned, but if a number of similar points are noticed, they are brought to notice, mentioning the type of error or irregularity with one or more instances, so that proper instructions may be issued for future guidance of the Government servants concerned.
17. Improper and irregular individual transactions are identiﬁed and cited as examples to __________ the signiﬁcance of faulty practices and promote the acceptance of constructive recommendations designed to save money, avoid improper payments or other losses or promote operational efficiency.
18. The statements and figures in relation to any defects or irregularities __________ are based on clear documentary evidence.
19. Instead of quoting the rules or the order violated, the actual or possible effect of such deviation on the financial interest of Government is to be ___________clearly.
20. The Inspection Report is completed by the Inspecting Officer before the audit of the ofﬁce inspected is ___________ and it is not signed until the officer-in-charge of the Ofﬁce (or any other officer acting on his behalf) has been given the opportunity for reading and discussing it and suggesting any omissions or modifications.
21. The inspection report is kept as brief as possible but the points raised in it are pursued until finally __________.
(a) Disposed of
22. The __________ Audit Notes does not require a reply in detail, but it is verified at a subsequent inspection that necessary action has been taken on it.
23. Under the Audit and Accounts Order, ______________, as adapted, audit of receipts accruing under Debt, Deposit and Remittance heads and of those included in the subsidiary accounts of Government Commercial undertakings devolved under on the Comptroller and Auditor-General under Paragraph 13(1) of the Order and is conducted in such manner and to such an extent as may be prescribed by him.
24. The Comptroller and Auditor-General may, with the approval of and shall if so required by, the President or the Governor of State, audit and report on the receipt of any Department of the Union or State and for this purpose the President or the Governor may, after consultation with the ____________, make regulations with respect to the conduct of audit of such Department.
(a) Finance Minister
(b) Finance Commission
(c) Council of Ministers
(d) Comptroller and Auditor-General
25. Article _________ of the Constitution and Section 49 of the Government of Union Territory Act, lay down that the Reports of the Comptroller and Auditor-General of India relating to the accounts of the Union/Union Territories with Legislature and the States shall be submitted to the President or the Governor/Administrator, as the case may be, who shall cause them to be laid before each House of Parliament or Legislature.
26. Article 151 of the Constitution and Section 49 of the Government of Union Territories Act, _________, thus lay on the Comptroller and Auditor-General the duty for auditing the accounts, not only of expenditure, but also of receipts of the Union / Union Territories with Legislature and the States.
27. The detailed audit of receipts of the other major revenue earning departments like Income Tax, Excise, Sales Tax, etc., was taken up in _________.
28. ________ are collected by the State for general purpose of the community; these do not involve any direct quid pro quo from the State to the tax payer.
29. ___________ revenues, on the other hand, involve some quid pro quo; these are, generally, receipts in return for supplies and services rendered by the State and include contractual receipts like those from sales of forest produce, gross revenues of service organisations or public utilities like road transport or railways and also surpluses of State commercial enterprises.
30. The levy and collection of a tax are regulated by substantive and procedural provisions of a __________.
31. A tax assessment is a quasi-judicial act; a non-tax revenue is purely an administrative __________.
32. With the passing of the Comptroller and Audit-General’s (Duties, Powers and Conditions of Service) Act, ________, the audit of all receipts is vested in the Comptroller and Auditor-General under an express provision in the Act.
33. The Comptroller and Auditor-General now audits all tax and non-tax __________ of the Union, States and Union Territories.
34. Interpretation of law is a judicial __________.
35. Audit has, therefore, to be __________ mainly with regard to the statutory provisions as judicially interpreted.
36. Audit may well point out cases where there is an apparent ________ or loophole in the law or where certain provisions in their actual working do not apparently bring out the true legislative intention.
37. As for the rules, regulations and instructions issued by the Revenue Departments under their delegated powers, or exemptions granted by them, Audit has to see that these are issued by competent authorities after following the procedures prescribed by _________ and in accordance with the guidelines laid down in the law.
38. The most important function of audit is to see (1) that adequate regulations and procedure have been framed by the Revenue Department to secure an effective check on assessment, collection and proper allocation of taxes; and (2) to satisfy itself by adequate test check that such regulations and procedure are actually being __________.
(a) Complied with
(d) Carried out
39. The Indian Audit and Accounts Department is entitled to receive a copy of an order sanctioning expenditure or a sanction which is otherwise to be enforced in audit from the authority competent to accord the ____________.
40. In order to maintain uniformity and achieve standardisation in the form of the Audit reports, to facilitate incorporation of certain essential information which ought to be available in the Audit Reports as also to meet the statutory requirements, a model form of Audit Report on the accounts of Local Authority has been prepared as in Annexure – .
41. Cash Book is the most _________ record.
42. All receipts are taken into account in ____________ in chronological order from Receipt Book.
(c) Cash Book
(d) Bill Register
43. All vouchers are kept _____________ in chronological order and are numbered serially.
44. All posts for which payments are made have the sanction of the _________.
(d) Competent authority.
45. The point that need attention in auditing the payments towards wage bills is whether the employment was sanctioned by the ____________.
(a) Competent authority
46. Whether the detailed plans and estimates have been drawn up in time, duly approved by the __________ speciﬁed for the purpose.
(a) Competent authority