Reasoning

PUNJAB PUBLIC SERVICE COMMISSION
Objective Type Test (May-2023) for Recruitment to the Post of Section Officer
(Group A) in the Department of Finance (Treasuries & Accounts), Govt. of Punjab
READ INSTRUCTIONS BEFORE FILLING ANY DETAILS OR ATTEMPTING TO ANSWER THE QUESTIONS.
Total Questions: 120

Time Allowed: 2 Hours
Candidate’s Name ____________________________________________Question
Booklet Set
Father’s Name ____________________________________________
Date of Birth
DD MM YYYY
OMR Response Sheet No. ______________________________________

Booklet Series
Roll No. __________ No.
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INSTRUCTIONS
1. The candidate shall NOT open this booklet till the time told to do so by the Invigilation Staff. However, in the meantime, the
candidate can read these instructions carefully and subsequently fill the appropriate columns given above in CAPITAL
letters. The candidate may also fill the relevant boxes out of 1 to 9 of the Optical Mark Reader (OMR) response sheet,
supplied separately.
2. Use only blue or black ball point pen to fill the relevant columns on this page as well as in OMR sheet. Use of Ink pen or any
other pen is not allowed.
3. The candidate shall be liable for any adverse effect if the information given above is wrong or illegible or incomplete.
4. Each candidate is required to attempt 120 questions in 120 minutes, except for orthopedically/visually impaired candidates,
who would be given 40 extra minutes, for marking correct responses on the OMR sheet.
5. The question paper booklet has 20 pages.
6. The candidates, when allowed to open the question paper booklet, must first check the entire booklet to confirm that the
booklet has complete number of pages, the pages printed correctly and there are no blank pages. In case there is any such
error in the question paper booklet then the candidate should IMMEDIATELY bring this fact to the notice of the Invigilation
Staff and obtain a new booklet of the same series as given earlier.
7. The serial number of the new Question booklet if issued for some reason should be entered in the relevant column of the
OMR. The Invigilation Staff must make necessary corrections in their record regarding the change in the serial no. of
Question booklet.
8. The paper consists of total 480 Marks. Each question shall carry 4 marks. There are four options for each question and the
candidate has to mark the MOST APPROPRIATE answer on the OMR response sheet.
9. There is negative marking (1 mark for each question) for questions wrongly answered by the candidate.
10. Use of Electronic/Manual Calculator is prohibited.
11. The candidate MUST READ INSTRUCTIONS BEHIND THE OMR SHEET before answering the questions and check that two
carbon copies attached to the OMR sheet are intact.
1. The method of budgeting whereby all activities are re-evaluated each time a budget is
formulated is regarded as
a) Production Budget
b) Zero-based Budget
c) Factory Overhead Budget
d) Direct Labor Budget
2. The first stock exchange to be set up in India was in

a) Delhi
b) Chennai
c) Mumbai
d) Kolkata
3. To obtain the break-even point in rupee sales value, total fixed costs are divided by
a) Variable cost per unit
b) Contribution margin per unit
c) Fixed cost per unit
d) Profit-Volume Ratio
4. In a flexible budget format, the total depreciation at the output level of 4,500 units is INR
12,000, the depreciation per unit at 5,000-unit level will be
a) INR 12,000
b) INR 2.67
c) INR 2.40
d) INR 13,350
5. A budget that gives a summary of all the functional budgets and projected profit and loss
account is known as
a) Capital budget
b) Flexible budget
c) Master budget
d) Discretionary budget
6. Responsibility accounting and cost volume profit analysis are part of _____________
accounting
a) Financial accounting
b) Management accounting
c) Cost accounting
d) All of these
7. Wealth maximization criteria as an objective of financial management

a) considers both quality and quantity dimensions of benefits
b) incorporates time value of money
c) avoids ambiguity
d) All of these
SECTION OFFICER-2023 A-2

8. Travelling expense of Rs. 10,000 incurred by the company on trips abroad for purchase of
machine
a) Shall be treated as deferred revenue expenditure
b) Shall be treated as capital expenditure
c) Shall be treated as operating expenditure
d) Shall be treated as financial cost
9. A project costs Rs. 20,00,000 and yields profit of Rs. 3,00,000 after depreciation @12.5%
but before tax @50%. Payback period in this case shall be
a) 4 years
b) 5 years
c) 6.67 years
d) 4.5 years
10. Accounting Rate of Return can be calculated as

a) Average annual profit after tax /Average investment in the project
b) Total profit after tax /Average investment in the project
c) Average annual profit before tax /Average investment in the project
d) Total profit after tax /Total investment in the project
11. Which of the following statement is false?

a) NPV recognizes time value of money
b) NPV considers total benefits arising out of the proposal over its lifetime
c) NPV is not useful for selection of mutually exclusive projects
d) NPV is instrumental in achieving objective of financial management
12. Which of the following would be the best example of a capital budgeting decision?
a) Purchasing new machinery to replace an existing one
b) Transferring money to your creditor’s account
c) Payment of electricity bill for your factory
d) None of these
13. Operating leverage can be calculated as
a) Sales – Variable cost/ Contribution – Fixed cost
b) Percentage change in EBT/ Percentage change in EBIT
c) Percentage change in EPS/ Percentage change in sales
d) Contribution/ EBT
14. When there is no fixed interest charge, EBIT and EPS
a) change at increasing rate
b) change at decreasing rate
c) change at same rate
d) are same
15. Cash inflows after tax are equal to
a) Earnings after tax minus depreciation
b) Earnings after tax plus depreciation
c) Earnings before tax minus depreciation
d) Earnings before tax plus depreciation

16. Overall cost of capital can be defined as
a) the rate of return that must be earned by the firm in order to satisfy the
requirements of equity shareholders i.e., owners
b) the rate of return that must be earned by the firm in order to satisfy the
requirements of debt holders
c) the rate of return that must be earned by the firm in order to satisfy the
requirements of different investors
d) the rate of return that must be earned by the firm in order to satisfy the
requirements of preference shareholders
17. While finalizing the current year’s profit, the company realized that there was an error in the
valuation of closing stock of the previous year. In the previous year, closing stock was
valued more by INR 10,000. As a result
a) previous year’s profit is overstated and current year’s profit is also overstated
b) previous year’s profit is understated and current year’s profit is also overstated
c) previous year’s profit is understated and current year’s profit is also understated
d) previous year’s profit is overstated and current year’s profit is understated
18. Dividends are usually paid as percentage of
a) paid-up capital
b) net profit
c) profit after tax
d) called-up capital
19. Indian companies are required to maintain their accounts on
a) Accrual basis and double entry system
b) Cash basis
c) Accrual basis
d) Double entry system
20. The sale of a land for cash would be classified as what type of activity on cash flow
statement?
a) Operating
b) Financing
c) Investing
d) Shall not be considered
21. The profits calculated by marginal costing and absorption costing differ because of
a) Capital and revenue
b) Direct material cost
c) Direct expenses cost
d) Valuation of stock
22. Following information is available for a company: EPS= INR 10, cost of equity = 0.10,
required rate of return=8%, payout ratio=100%. Find out market price of share using
Walter’s model.
a) 100
b) 112
c) 96
d) 118

23. A firm has cash balance of INR 50,000; debtors of INR 70,000 and creditors of INR 20,000.
Its gross working capital would be
a) INR 1,20,000
b) INR 1,00,000
c) INR 70,000
d) INR 50,000
24. Which of the following statements is true?

a) Hedging approach is based on general rule that length of finance should match
with the life duration of assets
b) Permanent working capital needs are financed by short-term sources in hedging
approach
c) All working capital needs are primarily financed by short-term sources in
conservative approach
d) Aggressive approach involves financing major part of working capital by long-
term sources
25. The factors that must be considered when company takes decisions with respect to
receivables management are
a) Credit standards, net present value, cash discount, collection efforts
b) Credit standards, credit period, cash discount, collection efforts
c) Credit standards, credit period, cost of equity share capital, collection efforts
d) Credit standards, credit period, net present value, cost of capital
26. Ratios which take into consideration relative contribution of financing provided by owners
as well as outsiders are called
a) Leverage ratios
b) Liquidity ratios
c) Profitability ratios
d) Turnover ratios
27. At the time of admission of a new partner, if the value of goodwill is overstated in the
books, it is written back by
a) old partners in old profit/loss sharing ratio
b) new and existing partners in new profit/loss sharing ratio
c) new partner in gaining ratio
d) old partners in sacrificing ratio
28. Error of omission means
a) That errors are compensating each other
b) That any entry is totally missed
c) That there is a wrong entry in the books of accounts
d) That a transaction is recorded twice
29. P/E ratio is
a) Price of share divided by the dividend per share
b) Before tax profit per share divided by the dividend per share
c) After tax profit per share divided by the retained price per share
d) Market price per share divided by Earnings per share
a) Nominal account balances are not carried forward to next year
b) Real account balances are not carried forward to next year
c) Personal account balances are not carried forward to next year
d) Individual account balances are not carried forward to next year
31. First-in First-out method of inventory valuation is preferable in case of

a) Falling prices
b) Rising prices
c) Constant prices
d) Fluctuating prices
32. In case of an ‘unpresented cheque’

a) Bank balance in cash book is more than bank passbook
b) Bank balance in cash book is less than bank passbook
c) Both a) and b)
d) No effect in both the books
33. Amount spent for inauguration of new factory building is

a) Revenue expenditure
b) Capital expenditure
c) Prepaid expenditure
d) None of the above
34. Which of the financial statement represents the accounting equation: Assets = Liabilities +
Owner’s Equity?
a) Income statement
b) Cash flow statement
c) Balance sheet
d) None of these
35. Which of the following is a capital expenditure?

a) Legal expenses in connection with defending a title to firm’s property
b) Expenditure on painting of factory shed
c) Freight and cartage on purchase of new machine
d) Wages paid to machine operator
36. Prime cost plus variable overheads is known as

a) Production cost
b) Marginal cost
c) Total cost
d) Cost of sales
37. A company’s ability to fulfill its long-term obligations is likely to be assessed through
a) Solvency ratios
b) Activity ratios
c) Liquidity ratios
d) Debt equity ratios

38. For a firm having debt and equity in its existing capital structure, cost of issuing new shares
to the public would be known as
a) Cost of capital
b) Cost of preference capital
c) Weighted average cost of capital
d) None of these
39. Which costs are treated as product costs under variable costing?
a) Only direct costs
b) All variable costs
c) Only variable production costs
d) All variable and fixed manufacturing costs

a) Issue of shares to public by an already listed company is known as Initial Public
Offer
b) Issue of shares to public by an already listed company is known as follow on
public offer
c) Issue of shares to public by an already listed company is known as rights issue
d) Issue of shares to public by an already listed company is known as private
placement
41. Right shares enjoy preferential rights with respect to

a) Payment of dividend
b) Payment of retained earnings
c) Payment of capital
d) None of these
42. An expired cost resulting from a productive usage of an asset is shown in

a) Profit and Loss Account on debit side
b) Profit and Loss Account on credit side
c) Balance sheet as an asset
d) Balance sheet as a liability
43. The cost of acquisition of bonus shares is

a) Book value on the date of issue of bonus shares
b) Market price on the date of issue of bonus shares
c) Nil
d) None of these
44. Money measurement concept of accounting theory is based on the assumption that the value
of money will
a) Fluctuate
b) Remain constant
c) Decline
d) Rise

45. A tourist firm has received interest of INR 500. It should be treated as
a) Operating income
b) Non-operating income
c) Operating expenses
d) Non-operating expenses
46. Golden rule that is followed while accounting in journal book for nominal accounts is
a) Debit what comes in and credit what goes out
b) Debit what goes out and credit what comes in
c) Debit all expenses and credit all income
d) Debit all income and credit all expenses
47. The closing stock as per the principle of conservatism is normally valued at
a) Purchase price or market price whichever is lower
b) Purchase price or market price whichever is higher
c) Purchase price
d) Market price
48. It is given that the cost of stock is INR 100. However, it’s current market price is INR 95
(buying) and INR 90 (selling). If the market price is interpreted in the sense of replacement
cost, the stock should be valued at
a) INR 95
b) INR 100
c) INR 90
d) INR 93
49. A business has net assets of INR 101700 at the beginning of the year. The profit earned by
the business during the year was INR 72000. The owner withdrew goods for its own private
use which had cost INR 3000. What were the closing net assets?
a) INR 174200
b) INR 170700
c) INR 176700
d) INR 99200

a) A cash book is a subsidiary book
b) A cash book is a principal book
c) A cash book is both a subsidiary book as well as a principal book
d) A cash book is a ledger
51. Double entry system was introduced in
a) United States of America

b) China
c) India
d) Italy

52. If huge amount is spent on special advertisement, it shall be classified as
a) Deferred revenue expenditure
c) Revenue expenditure
d) Revenue loss
53. If the total of trial balance does not match, the difference must be entered in
a) Nominal account
b) Profit & loss account
c) Capital account
d) Suspense account
54. An asset is purchased for INR 50,000 on which depreciation is to be provided annually
according to the straight-line method. The useful life of the asset is 10 years and the residual
value is INR 10,000. The rate of depreciation is
a) 8%
b) 10%
c) 12%
d) 16%
55. Functions of the board of SEBI include

a) protecting the interests of investors in securities
b) regulating the business in stock exchange
c) registering and regulating the working of stockbrokers
d) All of these
56. Under which method of depreciation opportunity cost is considered?

a) Sinking fund method
b) SLM method
c) Annuity method
d) WDV method
57. What is correct for outstanding expenses under accounting equation method?
a) Reduction in liability and increase in asset
b) Reduction in asset and increase in liability
c) Reduction in capital and increase in liability
d) Increase in capital and reduction in liability
58. In accounting, Secondary book is

a) Journal
b) All subsidiary books
c) Ledger
d) Trial balance
59. Who developed theory of Zero Base Budgeting?

a) Peter Drucker
b) Peter Pyhrr
c) Peter divas
d) Peter Thomas
60. Inter-firm comparison is possible where
a) Standard costing is in operation
b) absorption costing is in operation
c) Marginal costing is in operation
d) uniform costing is in operation
61. Total fixed cost of a company is Rs. 2,00,000, which can be reduced to Rs. 74,000 if
decision of shut down is taken. Shut down cost is Rs. 14,000. Selling price per unit is Rs.
20 and variable cost per unit is Rs. 12. Determine shut down point in units.
a) 11,000 units
b) 10,000 unit
c) 14,000 units
d) 9334 units
62. Dividend equalization reserve is desirable on adoption of

a) Constant dividend rate policy
b) Optimum dividend policy
c) Constant dividend payout policy
d) Irregular dividend policy
63. Positive EPS can be generated when

a) EBIT < Indifferent point
b) EBIT > Indifferent point
c) EBIT = Indifferent point
64. Carrying cost of EOQ can be eliminated by

a) ABC
b) FNSD
c) JIT
d) VED
65. Department of SEBI responsible for supervising the functioning and operations (except
relating to derivatives) of security exchange, their subsidiaries and market institutions like
clearing and settlement organizations and depositories is
a) Investigation management department
b) Legal affairs department
c) Market regulation department
66. Net profit or loss will be derived at ________ stage of accounting

a) Classifying
b) interpretation
c) Recording
d) Summarising

67. Trial balance is a
a) Statement
b) Account
c) Summary
d) Ledger
68. Debit note issued are used to prepare

a) sales return book
b) purchase return book
c) journal proper
d) purchase book
69. Medium term loan obtained from bank for augmenting working capital is
c) Revenue receipts
d) Capital Receipts
70. An asset was purchased for Rs.12,500 and was depreciated under Reducing balance
method at the rate of 20% p.a. . What is the value of the asset at the end of three years?
a) Rs. 5,000
b) Rs.6,400
c) Rs.7,500
d) Rs.8,000
71. The capital of a sole trader would change as a result of

a) Commission received
b) Furniture purchased on credit
c) Purchase of raw materials
d) payment received from a debtor
72. Comparative statement analysis is

a) Dynamic analysis
b) Horizontal analysis
c) Vertical analysis
d) External analysis
73. Which of the following statements is correct?
a) If PI < 1, its NPV is less than zero

b) If PI = 0, its NPV is greater than zero
c) If PI > 1, its NPV will be negative
d) PI of a project is always greater than one

74. ___________are provided by bank and other financial institutions , they carry fixed
rate of interest.
a) Term loans
b) Equity
c) Savings
d) Earnings
75. Fixed capital refers to any kind of physical capital that is fixed assets whereas working
capital refers to the sum of ______________assets.
a) Current
b) Business
c) Future
d) Risky
76. RBI has sole right to issue currency notes of all denominations, except
a) Two rupee note
b) Five rupee note
c) Ten rupee note
d) One rupee note
77. RBI is required to maintain minimum gold and foreign exchange reserves of
a) ₹ 200 crores
b) ₹ 400 crores
c) ₹ 250 crores
d) ₹ 300 crores
78. ____________ is a request by the RBI to the commercial bank to take specific measures
as per the economy's trends.
a) Fixing margin requirements
b) Credit rationing
c) Moral suasion
d) Directives
79. NABARD provides recommendations to RBI on issue of licenses to

a) Cooperative banks
b) Commercial banks
c) Industrial banks
d) EXIM bank
80. Depreciation accounting is concerned with

a) Allocation of cost
b) Valuation of assets
c) Cost of capital decision
d) Working capital decision

81. SEBI prohibits __________ trading
a) Outsider
b) domestic
c) insider
d) international
82. Government securities market is also known as the

a) Government bonds market
b) Gilt-edged Market
c) Derivative market
d) Money market
83. Inter-bank money market is also known as

a) Treasury bill market
b) Commercial bill market
c) Call money market
d) Organized money market
84. The funds mobilized by Money Market Mutual Funds are to be invested in
a) Government Bond market
b) Derivative market
c) Short term financial instruments
d) Long term financial instruments
85. Government securities market is a Sub-market of

a) Money market
b) Capital market
c) Forex market
d) Mix market
86. Which of the following is not the role of SEBI?

a) Regulatory role
b) Investors education
c) Dealer in Treasury bills
d) Market surveillance
87. Mutual Funds play an important role in Indian capital market as

a) Speculator in stock market
b) Investment avenue for small investors
c) Promoter of large-scale industries
88. Transactions of funds in the call money market are for a period
a) Up to 14 days
b) Up to 30 days
c) Up to 45 days
d) Up one year
89. RBI is operated with ________ central board of directors appointed by the Government
of India in accordance with the Reserve Bank of India Act.
a) 14 - Member
b) 21- Member
c) 23 - Member
d) 27 – Member
90. Under which option cost of debenture will be highest where interest rate is 14%.,
flotation cost is 3%and tax rate is 30%.
a) When debentures are issued at discount and redeemed at par
b) When debentures are issued at premium and redeemed at par
c) When debentures are issued at par and redeemed at redemption premium
d) When debentures are issued at discount and redeemed at redemption premium
91. Marked price of an article is 40% above its cost price and when shopkeeper allows
‘d’% discount then shopkeeper make a profit of ________% and when shopkeeper
allows ‘2d’% discount then he make a profit of ________%. Which of the following
option are possible to fill both respective blanks?
(1) (22.5, 5)
(2) (33, 26)
(3) (19, 2)
(4) (26, 12)
(5) (23.2, 6.4)
a) Only option 1, 2, 3 possible

b) Only option 2, 4 & 5 possible
c) Only option 1, 2, 4 & 5 possible
d) All of the above options are possible
92. Find the wrong number in following number series:

112, 128, 108, 132, 104, 134, 100
a) 112
b) 128
c) 134
d) 108
93. If 0 < st < 1, then which of the following is not always false?
a) s < -1 and t > 0
b) s < -1 and t < -1
c) s > -1 and t < -1
d) s > 1 and t < -1

Use the relations defined below to solve Q. No. 94.
S * T means S is the sister of T.
S + T means S is the brother of T.
S – T means S is the son of T.
S / T means S is the daughter of T.
S = T means S is the father of T.
S x T means S is the mother of T.
94. Which of the following means E and A are husband and wife?
a) D=E/A
b) D–E/A
c) ExD-A
d) E=D/A
95. If NOBLE is 48, NOVICE is 68, then what is CONSCIENTIOUSNESS?
a) 183
b) 213
c) 223
d) 243
96. Four defensive hockey players are chasing the opposing wide receiver, who has the ball.
Suresh is directly behind the ball carrier. Jonty and Bunny are side by side behind Suresh.
Zameer is behind Jonty and Bunny. Suresh tries for the tackle but misses and falls. Bunny
trips. Which defensive player tackles the receiver?
a) Suresh
b) Zameer
c) Jonty
d) Bunny
97. After completing a particular work, Suraj and Rakesh together earn Rs.4420. However, the
earnings are to be divided in the proportion of work done by each of them. After the share is
distributed, it is found that 8/5 of Suraj’s earnings is equal to 2/15 of Rakesh’s earnings.
How much did Suraj earn?
a) 340
b) 440
c) 1760
d) 2640

98. Neeraj has a collection of coins of 50p, 25p, 10p and 5p. They are present in the ratio of
1:4:4:12. He knows the total amount with him is 3300 Rs. How many more coins of 5p are
there than that of 50p?
a) 3300
b) 2200
c) 5500
d) 14520
99. It was Sunday on 1st January, 2006. What was the day of the week Jan 31, 2010?
a) Saturday
b) Sunday
c) Monday
d) Tuesday
100. When seen through a mirror, a clock shows 11 : 20. The correct time is
a)11 : 40
b)12 : 40
c)12 : 20
d) 2 : 20
101. Mahatma Gandhi surrendered his title of _____ during the Non-Cooperation Movement.
a) Mahatma
b) Kaiser-e-Hind
c) Lokamanya
d) Grand old man of India
102. Which bank acquired Citibank's consumer banking operations in India?
a) Axis Bank
b) Yes Bank
c) HDFC Bank
d) ICICI Bank
103. Which of the following represents a non-renewable energy source?
a) Biomass energy
b) Liquefied natural gas
c) Wind power
d) Solar energy

104. What is upper threshold limit for carbon dioxide concentration that is considered safe, and
above which it may be harmful for human body?
a) 100ppm for 4 hours

b) 300ppm for 8 hours
c) 700ppm for 4 hours
d) 5000ppm for 8 hours
105. Which of the following statement(s) is/are NOT correct for “Bharat QR”?
1. It is capable of accepting payments from Visa, MasterCard, RuPay Cards

2. Bharat QR code reduces cost
3. Merchants accepting the payment through Bharat QR code, receives the amount
directly in their Bank accounts
4. It uses Point of Sale (PoS) swiping machine
a) 1 and 3 only
b) 1, 2 and 3 only
c) 4 only
d) 2 and 4 only
106. Petya is
a) Encrypting malware
b) Worms
c) Virus
d) Trojan
107. _______ monitors the performance of eight crypto assets that account for more than 85%
of the entire market capitalization of crypto assets traded in Indian Rupee.
a) Crypto Rupee Index
b) Coin Switch (CRE8)
c) Crypto Exchange
d) RBI
108. Sham Singh Attariwala lead sikh army in which of the following battle?
a) Battle of Mudki
b) Battle of Ferozshahar
c) Battle of Sabraon
d) Battle of Ramnagar
109. Which of the following statements is correct about the term ‘bank run’?
a) The net balance of money a bank has in its chest at the end of the day’s business
b) A panic situation when deposit holders start withdrawing cash from the banks
c) The ratio of bank’s total deposits and its total liabilities
d) The period in which a bank creates the highest credit in the market

110. Which of the following Indian state was used by the European planters to support indigo
exports?
a) Madras
b) Punjab
c) Bengal
d) Maharashtra
111. ਦੇਸੀ ਮਹੀਨਿਆਂ ਦਾ ਨਿਹੜਾ ਕ੍ਰਮ ਸਹੀ ਹੈ:

a) ਜੇਠ, ਹਾੜ, ਚੇਤ
b) ਭਾਦੋਂ, ਅੱਸੂ, ਪੋਹ
c) ਅੱਸੂ, ਿੱਤਿ, ਮਾਘ
d) ਮਾਘ, ਫੱਗਣ, ਚੇਤ
112. ਪੰਜਾਬ ਦੇ ਮਾਝਾ ਖੇਤਰ ਨ ੱਚ ਨਿਹੜਾ ਨਿਲਾ ਿਹੀਂ ਆਉਂਦਾ:

a) ਅੰਨਮਿਤਸਰ
b) ਤਰਿਤਾਰਿ
c) ਫ਼ਾਨਿਲਿਾ
d) ਪਠਾਿਿੋਟ
113. ‘ਉਸ ਦੇ ਮੰਡੇ ਿੇ ਸਾਰਾ ਿੰਮ ਨ ਗਾੜ ਨਦੱਤਾ।’ ਦਾ ਚਿ ਬਦਲੋ :
a) ਉਿ੍ ਾਂ ਦੇ ਮੰਨਡਆਂ ਿੇ ਸਾਰੇ ਿੰਮ ਨ ਗਾੜ ਨਦੱਤੇ।
b) ਉਸ ਦੇ ਮੰਨਡਆਂ ਿੇ ਸਾਰਾ ਿੰਮ ਨ ਗਾੜ ਨਦੱਤੇ।
c) ਉਿ੍ ਾਂ ਦੇ ਮੰਡੇ ਿੇ ਸਾਰੇ ਿੰਮ ਨ ਗਾੜ ਨਦੱਤਾ।
d) ਉਿ੍ ਾਂ ਦੇ ਮੰਡੇ ਿੇ ਸਾਰੇ ਿੰਮ ਨ ਗਾੜ ਨਦੱਤੇ।
114. ‘EVk’ dw smwnwrQk Sbd hY
a) AKIr b) ivckwr c) AwrMB d) isKr
115. “ਅੱ ਗੇ ਸੱ ਪ ਤੇ ਪਪੱ ਛੇ.............”। ਹੇਠ ਪਿਖੇ ਸ਼ਬਦਾਂ ਪ ੱ ਚੇ ਸਹੀ ਸ਼ਬਦ ਚੁਣ ਕੇ ਪਿਖੇ।
a) ਅਜਗਰ b) ਮੋਰ
c) ਪਬੱ ਿੀ d) ਸ਼ੀਹ
116. ਪਕਹੜੀ ਉਪ-ਭkਸ਼k ਪੰ ਜkਬੀ ਦk ਸ਼ੁੱ ਧ ਰੂਪ ਹੈ

a) ਪੁਆਧੀ b) ਮਿ ਈ
c) ਮkਝੀ d) ਦੁਆਬੀ
117. ‘ਖੁਸ਼ਬੋ’ ਸ਼ਬਦ ਦk ਸੁੱ ਧ ਬਹੁ- ਚਨ ਚੁਣੋ

a) ਖੁਸ਼ਬੋ ਾਂ b) ਖੁਸ਼ਬੋਈ
c) ਖੁਸ਼ਬੋnK d) ਖੁਸ਼ੀਬੋਓ
118. “ਉਸ ਨੇ ਪਕਹk ਤੂੰ ਪਕੱ ਧਰ ਚੱ ਪਿਆ ਹੈਂ” kਕ ਪ ੱ ਚ ਪ ਸਰkਮ ਪਚੰ ਨਹ ਦk ਪਰਯੋਗ ਕਰਕੇ ਸੁੱ ਧ kਕ ਪਿਖੋ
a) ਉਸ ਨੇ ਪਕਹk “ਤੂੰ ਪਕੱ ਧਰ ਚੱ ਪਿਆ ਹੈਂ”
b) ਉਸ ਨੇ ਪਕਹk - ਤੂੰ ਪਕੱ ਧਰ ਚੱ ਪਿਆ ਹੈਂ’?
c) ਉਸ ਨੇ ਪਕਹk! ’ਤੂੰ ਪਕੱ ਧਰ ਚੱ ਪਿਆ ਹੈਂ”
d) ਉਸ ਨੇ ਪਕਹk, “ਤੂੰ ਪਕੱ ਧਰ ਚੱ ਪਿਆ ਹੈਂ ?”
119. ਹੇਠ ਪਿਖੇ ਸ਼ਬਦਾਂ ਪ ੱ ਚੋਂ ‘ਆਿੂ’ ਪਪਛੇਤਰ kਿk ਅਸ਼ੁੱ ਧ ਸ਼ਬਦ ਦੱ ਸੋ।
a) ਝਗੜkਿੂ b) ਪਕਰਪkਿੂ
c) ਪਦਆਿੂ d) ਕkਿੂ
120. ‘ਛਟੀnK ਦੀ ਰਸਮ’ ਹੁੰ ਦੀ ਹੈ

a) ਪ ਆਹ ਤੋਂ ਪਪਹਿk b) ਮੰ ਗਣੀ ੇਿੇ
c) ਮੁਕਿk ੇ ੇਿੇ d( ਪ ਆਹ ਤੋਂ ਬkਅਦ
******

SPACE FOR ROUGH WORK


Booklet Set
Father’s Name ____________________________________________
Date of Birth
DD MM YYYY

Booklet Series
Roll No. __________ No.
INSTRUCTIONS
Question booklet.




SECTION OFFICER-2023 B-2



a) Delhi
b) Chennai
c) Mumbai
d) Kolkata
a) INR 12,000
b) INR 2.67
c) INR 2.40
d) INR 13,350

account is known as
a) Capital budget
b) Flexible budget
c) Master budget
accounting
c) Cost accounting
d) All of these

c) avoids ambiguity
d) All of these
machine
a) 4 years
b) 5 years
c) 6.67 years
d) 4.5 years



d) None of these
d) are same

a) paid-up capital
b) net profit
c) profit after tax

b) Cash basis
c) Accrual basis
statement?
a) Operating
b) Financing
c) Investing
Walter’s model.
a) 100
b) 112
c) 96
d) 118
a) INR 1,20,000
b) INR 1,00,000
c) INR 70,000
d) INR 50,000

approach
term sources
a) Leverage ratios
b) Liquidity ratios
d) Turnover ratios
39. P/E ratio is


a) Falling prices
b) Rising prices
c) Constant prices

c) Both a) and b)


Owner’s Equity?
a) Income statement
c) Balance sheet
d) None of these


a) Production cost
b) Marginal cost
c) Total cost
d) Cost of sales
a) Solvency ratios
b) Activity ratios
c) Liquidity ratios
a) Cost of capital
d) None of these

Offer
public offer
placement

d) None of these


c) Nil
d) None of these
of money will
a) Fluctuate
b) Remain constant
c) Decline
d) Rise
a) Operating income
c) Purchase price
d) Market price

a) INR 95
b) INR 100
c) INR 90
d) INR 93
a) INR 174200
b) INR 170700
c) INR 176700
d) INR 99200


b) China
c) India
d) Italy

d) Revenue loss
a) Nominal account
c) Capital account
d) Suspense account
a) 8%
b) 10%
c) 12%
d) 16%

d) All of these
b) SLM method
c) Annuity method
d) WDV method

a) Journal
c) Ledger
d) Trial balance

a) Peter Drucker
b) Peter Pyhrr
c) Peter divas
d) Peter Thomas

a) 11,000 units
b) 10,000 unit
c) 14,000 units
d) 9334 units


a) ABC
b) FNSD
c) JIT
d) VED

a) Classifying
b) interpretation
c) Recording
d) Summarising

a) Statement
b) Account
c) Summary
d) Ledger

c) journal proper
d) purchase book
c) Revenue receipts
d) Capital Receipts

a) Rs. 5,000
b) Rs.6,400
c) Rs.7,500
d) Rs.8,000


a) Dynamic analysis

rate of interest.
a) Term loans
b) Equity
c) Savings
d) Earnings
a) Current
b) Business
c) Future
d) Risky
a) Two rupee note
b) Five rupee note
c) Ten rupee note
d) One rupee note
a) ₹ 200 crores
b) ₹ 400 crores
c) ₹ 250 crores
d) ₹ 300 crores
b) Credit rationing
c) Moral suasion
d) Directives

b) Commercial banks
c) Industrial banks
d) EXIM bank


a) Outsider
b) domestic
c) insider
d) international

d) Money market



a) Money market
b) Capital market
c) Forex market
d) Mix market

a) Regulatory role

a) Up to 14 days
b) Up to 30 days
c) Up to 45 days
d) Up one year
a) 14 - Member
b) 21- Member
c) 23 - Member
d) 27 – Member

101. Marked price of an article is 40% above its cost price and when shopkeeper allows ‘d’%
discount then shopkeeper make a profit of ________% and when shopkeeper allows ‘2d’%
discount then he make a profit of ________%. Which of the following option are possible to
fill both respective blanks?
(1) (22.5, 5)
(2) (33, 26)
(3) (19, 2)
(4) (26, 12)
(5) (23.2, 6.4)


112, 128, 108, 132, 104, 134, 100
a) 112
b) 128
c) 134
d) 108
a) s < -1 and t > 0
b) s < -1 and t < -1
c) s > -1 and t < -1
d) s > 1 and t < -1

a) D=E/A
b) D–E/A
c) ExD-A
d) E=D/A

a) 183
b) 213
c) 223
d) 243
a) Suresh
b) Zameer
c) Jonty
d) Bunny
a) 340
b) 440
c) 1760
d) 2640
a) 3300
b) 2200
c) 5500
d) 14520
a) Saturday
b) Sunday
c) Monday
d) Tuesday

a)11 : 40
b)12 : 40
c)12 : 20
d) 2 : 20
a) Mahatma
b) Kaiser-e-Hind
c) Lokamanya

a) Axis Bank
b) Yes Bank
c) HDFC Bank
d) ICICI Bank

a) Biomass energy
c) Wind power
d) Solar energy

a) 1 and 3 only
b) 1, 2 and 3 only
c) 4 only
d) 2 and 4 only

116. Petya is
b) Worms
c) Virus
d) Trojan
c) Crypto Exchange
d) RBI
a) Battle of Mudki
exports?
a) Madras
b) Punjab
c) Bengal
d) Maharashtra
******



Booklet Set
Father’s Name ____________________________________________
Date of Birth
DD MM YYYY

Booklet Series
Roll No. __________ No.
INSTRUCTIONS
Question booklet.
a) Mahatma
b) Kaiser-e-Hind
c) Lokamanya
a) Axis Bank
b) Yes Bank
c) HDFC Bank
d) ICICI Bank
a) Biomass energy
c) Wind power
d) Solar energy


a) 1 and 3 only
b) 1, 2 and 3 only
c) 4 only
d) 2 and 4 only
SECTION OFFICER-2023 C-2

6. Petya is
b) Worms
c) Virus
d) Trojan
c) Crypto Exchange
d) RBI
a) Battle of Mudki
exports?
a) Madras
b) Punjab
c) Bengal
d) Maharashtra







a) Delhi
b) Chennai
c) Mumbai
d) Kolkata
a) INR 12,000
b) INR 2.67
c) INR 2.40
d) INR 13,350
account is known as
a) Capital budget
b) Flexible budget
c) Master budget
accounting
c) Cost accounting
d) All of these

c) avoids ambiguity
d) All of these
machine
a) 4 years
b) 5 years
c) 6.67 years
d) 4.5 years


d) None of these
d) are same

a) paid-up capital
b) net profit
c) profit after tax
b) Cash basis
c) Accrual basis
statement?
a) Operating
b) Financing
c) Investing

Walter’s model.
a) 100
b) 112
c) 96
d) 118
a) INR 1,20,000
b) INR 1,00,000
c) INR 70,000
d) INR 50,000

approach
term sources
a) Leverage ratios
b) Liquidity ratios
d) Turnover ratios

49. P/E ratio is


a) Falling prices
b) Rising prices
c) Constant prices

c) Both a) and b)

Owner’s Equity?
a) Income statement
c) Balance sheet
d) None of these


a) Production cost
b) Marginal cost
c) Total cost
d) Cost of sales
a) Solvency ratios
b) Activity ratios
c) Liquidity ratios
a) Cost of capital
d) None of these

Offer
public offer
placement

d) None of these


c) Nil
d) None of these
of money will
a) Fluctuate
b) Remain constant
c) Decline
d) Rise
a) Operating income
c) Purchase price
d) Market price
a) INR 95
b) INR 100
c) INR 90
d) INR 93
a) INR 174200
b) INR 170700
c) INR 176700
d) INR 99200


b) China
c) India
d) Italy

d) Revenue loss
a) Nominal account
c) Capital account
d) Suspense account
a) 8%
b) 10%
c) 12%
d) 16%

d) All of these

b) SLM method
c) Annuity method
d) WDV method
a) Journal
c) Ledger
d) Trial balance
a) Peter Drucker
b) Peter Pyhrr
c) Peter divas
d) Peter Thomas

a) 11,000 units
b) 10,000 unit
c) 14,000 units
d) 9334 units



a) ABC
b) FNSD
c) JIT
d) VED


a) Classifying
b) interpretation
c) Recording
d) Summarising

a) Statement
b) Account
c) Summary
d) Ledger

c) journal proper
d) purchase book
c) Revenue receipts
d) Capital Receipts
a) Rs. 5,000
b) Rs.6,400
c) Rs.7,500
d) Rs.8,000


a) Dynamic analysis

rate of interest.
a) Term loans
b) Equity
c) Savings
d) Earnings
a) Current
b) Business
c) Future
d) Risky
a) Two rupee note
b) Five rupee note
c) Ten rupee note
d) One rupee note
a) ₹ 200 crores
b) ₹ 400 crores
c) ₹ 250 crores
d) ₹ 300 crores
b) Credit rationing
c) Moral suasion
d) Directives

b) Commercial banks
c) Industrial banks
d) EXIM bank


a) Outsider
b) domestic
c) insider
d) international

d) Money market


a) Money market
b) Capital market
c) Forex market
d) Mix market

a) Regulatory role


a) Up to 14 days
b) Up to 30 days
c) Up to 45 days
d) Up one year
a) 14 - Member
b) 21- Member
c) 23 - Member
d) 27 – Member
discount then shopkeeper make a profit of ________% and when shopkeeper allows
‘2d’% discount then he make a profit of ________%. Which of the following option are
possible to fill both respective blanks?
(1) (22.5, 5)
(2) (33, 26)
(3) (19, 2)
(4) (26, 12)
(5) (23.2, 6.4)


112, 128, 108, 132, 104, 134, 100
a) 112
b) 128
c) 134
d) 108
a) s < -1 and t > 0
b) s < -1 and t < -1
c) s > -1 and t < -1
d) s > 1 and t < -1

a) D=E/A
b) D–E/A
c) ExD-A
d) E=D/A
a) 183
b) 213
c) 223
d) 243
a) Suresh
b) Zameer
c) Jonty
d) Bunny

a) 340
b) 440
c) 1760
d) 2640
a) 3300
b) 2200
c) 5500
d) 14520
a) Saturday
b) Sunday
c) Monday
d) Tuesday
a)11 : 40
b)12 : 40
c)12 : 20
d) 2 : 20
******



Booklet Set
Father’s Name ____________________________________________
Date of Birth
DD MM YYYY
OMR Response Sheet No. __________________________________

Booklet Series
Roll No. __________ No.
INSTRUCTIONS
candidate can read these instructions carefully and subsequently fill the appropriate columns given above in CAPITAL letters.
The candidate may also fill the relevant boxes out of 1 to 9 of the Optical Mark Reader (OMR) response sheet, supplied
separately.
4. Each candidate is required to attempt 120 questions in 120 minutes, except for orthopedically/visually impaired candidates, who
would be given 40 extra minutes, for marking correct responses on the OMR sheet.
6. The candidates, when allowed to open the question paper booklet, must first check the entire booklet to confirm that the booklet
has complete number of pages, the pages printed correctly and there are no blank pages. In case there is any such error in
the question paper booklet then the candidate should IMMEDIATELY bring this fact to the notice of the Invigilation Staff and
obtain a new booklet of the same series as given earlier.
7. The serial number of the new Question booklet if issued for some reason should be entered in the relevant column of the OMR.
The Invigilation Staff must make necessary corrections in their record regarding the change in the serial no. of Question
booklet.
discount then shopkeeper make a profit of ________% and when shopkeeper allows
‘2d’% discount then he make a profit of ________%. Which of the following option are
possible to fill both respective blanks?
(1) (22.5, 5)
(2) (33, 26)
(3) (19, 2)
(4) (26, 12)
(5) (23.2, 6.4)


112, 128, 108, 132, 104, 134, 100
a) 112
b) 128
c) 134
d) 108

a) s < -1 and t > 0
b) s < -1 and t < -1
c) s > -1 and t < -1
d) s > 1 and t < -1

a) D=E/A
b) D–E/A
c) ExD-A
d) E=D/A
SECTION OFFICER-2023 D-2

a) 183
b) 213
c) 223
d) 243
a) Suresh
b) Zameer
c) Jonty
d) Bunny
a) 340
b) 440
c) 1760
d) 2640
a) 3300
b) 2200
c) 5500
d) 14520
a) Saturday
b) Sunday
c) Monday
d) Tuesday

a) 11 : 40
b) 12 : 40
c) 12 : 20
d) 2 : 20
a) Mahatma
b) Kaiser-e-Hind
c) Lokamanya

a) Axis Bank
b) Yes Bank
c) HDFC Bank
d) ICICI Bank

a) Biomass energy
c) Wind power
d) Solar energy
15. Which of the following statement(s) is/are NOT correct for “Bharat QR?

a) 1 and 3 only
b) 1, 2 and 3 only
c) 4 only
d) 2 and 4 only

16. Petya is
b) Worms
c) Virus
d) Trojan
c) Crypto Exchange
d) RBI
a) Battle of Mudki
exports?
a) Madras
b) Punjab
c) Bengal
d) Maharashtra







a) Delhi
b) Chennai
c) Mumbai
d) Kolkata
a) INR 12,000
b) INR 2.67
c) INR 2.40
d) INR 13,350
account is known as
a) Capital budget
b) Flexible budget
c) Master budget
accounting
c) Cost accounting
d) All of these

c) avoids ambiguity
d) All of these
machine
a) 4 years
b) 5 years
c) 6.67 years
d) 4.5 years


d) None of these
d) are same

a) paid-up capital
b) net profit
c) profit after tax
b) Cash basis
c) Accrual basis
statement?
a) Operating
b) Financing
c) Investing

Walter’s model.
a) 100
b) 112
c) 96
d) 118
a) INR 1,20,000
b) INR 1,00,000
c) INR 70,000
d) INR 50,000

approach
term sources
a) Leverage ratios
b) Liquidity ratios
d) Turnover ratios


59. P/E ratio is


a) Falling prices
b) Rising prices
c) Constant prices

c) Both a) and b)

Owner’s Equity?
a) Income statement
c) Balance sheet
d) None of these


a) Production cost
b) Marginal cost
c) Total cost
d) Cost of sales
a) Solvency ratios
b) Activity ratios
c) Liquidity ratios
a) Cost of capital
d) None of these

Offer
public offer
placement

d) None of these


c) Nil
d) None of these
of money will
a) Fluctuate
b) Remain constant
c) Decline
d) Rise
a) Operating income
c) Purchase price
d) Market price
a) INR 95
b) INR 100
c) INR 90
d) INR 93
a) INR 174200
b) INR 170700
c) INR 176700
d) INR 99200


b) China
c) India
d) Italy

d) Revenue loss
a) Nominal account
c) Capital account
d) Suspense account
a) 8%
b) 10%
c) 12%
d) 16%

d) All of these
b) SLM method
c) Annuity method
d) WDV method

a) Journal
c) Ledger
d) Trial balance
a) Peter Drucker
b) Peter Pyhrr
c) Peter divas
d) Peter Thomas

a) 11,000 units
b) 10,000 unit
c) 14,000 units
d) 9334 units



a) ABC
b) FNSD
c) JIT
d) VED


a) Classifying
b) interpretation
c) Recording
d) Summarising

a) Statement
b) Account
c) Summary
d) Ledger

c) journal proper
d) purchase book
c) Revenue receipts
d) Capital Receipts
a) Rs. 5,000
b) Rs.6,400
c) Rs.7,500
d) Rs.8,000


a) Dynamic analysis

rate of interest.
a) Term loans
b) Equity
c) Savings
d) Earnings
a) Current
b) Business
c) Future
d) Risky
a) Two rupee note
b) Five rupee note
c) Ten rupee note
d) One rupee note
a) ₹ 200 crores
b) ₹ 400 crores
c) ₹ 250 crores
d) ₹ 300 crores
108. ____________ is a request by the RBI to the commercial bank to take specific
measures as per the economy's trends.
b) Credit rationing
c) Moral suasion
d) Directives

b) Commercial banks
c) Industrial banks
d) EXIM bank


a) Outsider
b) domestic
c) insider
d) international

d) Money market


a) Money market
b) Capital market
c) Forex market
d) Mix market

a) Regulatory role

a) Up to 14 days
b) Up to 30 days
c) Up to 45 days
d) Up one year
a) 14 - Member
b) 21- Member
c) 23 - Member
d) 27 – Member
******


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PUNJAB PUBLIC SERVICE COMMISSION

Total Questions: 120

OMR Response Sheet No. ______________________________________

Candidate’s Signature (Please sign in the box)

5. The question paper booklet has 20 pages.

10. Use of Electronic/Manual Calculator is prohibited.

2. The first stock exchange to be set up in India was in

7. Wealth maximization criteria as an objective of financial management

SECTION OFFICER-2023 A-2

10. Accounting Rate of Return can be calculated as

11. Which of the following statement is false?

SECTION OFFICER-2023 A-3

SECTION OFFICER-2023 A-4

24. Which of the following statements is true?

31. First-in First-out method of inventory valuation is preferable in case of

32. In case of an ‘unpresented cheque’

33. Amount spent for inauguration of new factory building is

35. Which of the following is a capital expenditure?

36. Prime cost plus variable overheads is known as

SECTION OFFICER-2023 A-6

40. Which of the following statements is true?

41. Right shares enjoy preferential rights with respect to

42. An expired cost resulting from a productive usage of an asset is shown in

43. The cost of acquisition of bonus shares is

SECTION OFFICER-2023 A-7

50. Which of the following statements is true?

51. Double entry system was introduced in

a) United States of America

SECTION OFFICER-2023 A-8

55. Functions of the board of SEBI include

56. Under which method of depreciation opportunity cost is considered?

58. In accounting, Secondary book is

59. Who developed theory of Zero Base Budgeting?

62. Dividend equalization reserve is desirable on adoption of

63. Positive EPS can be generated when

64. Carrying cost of EOQ can be eliminated by

66. Net profit or loss will be derived at ________ stage of accounting

SECTION OFFICER-2023 A-10

68. Debit note issued are used to prepare

71. The capital of a sole trader would change as a result of

72. Comparative statement analysis is

73. Which of the following statements is correct?

a) If PI < 1, its NPV is less than zero

SECTION OFFICER-2023 A-11

79. NABARD provides recommendations to RBI on issue of licenses to

80. Depreciation accounting is concerned with

SECTION OFFICER-2023 A-12

82. Government securities market is also known as the

83. Inter-bank money market is also known as

85. Government securities market is a Sub-market of

86. Which of the following is not the role of SEBI?

87. Mutual Funds play an important role in Indian capital market as

a) Only option 1, 2, 3 possible

92. Find the wrong number in following number series:

SECTION OFFICER-2023 A-14

SECTION OFFICER-2023 A-15

102. Which bank acquired Citibank's consumer banking operations in India?

103. Which of the following represents a non-renewable energy source?