Model Test Paper for RVPNL Accountant/Junior Accountant Exam

Will you please provide me the model question paper of RVPNL Accountant/Junior Accountant Exam??

[Kiran Chandar]

Here I am sharing the model question paper of RVPNL Accountant/Junior Accountant Exam

1. Auditing standards differ from auditing procedures in that procedures relate to
a) Measure of performance.
b) Audit principles.
c) Acts to be performed.
d) Audit judgments.

2. The independent auditor of 1900 differs from the auditor of today in that the 1900 auditor was more concerned with the
a) Validity of the income statement.
b) Determination of fair presentation of financial statements.
c) Improvement of accounting systems.
d) Detection of irregularities.

3. The first general standard of generally accepted auditing standards which states, in part, that the examination is to be performed by a person or persons having adequate technical training, requires that an auditor have
a) Education and experience in the field of auditing.
b) Ability in the planning and supervision of the audit work.
c) Proficiency in business and financial matters.
d) Knowledge in the areas of financial accounting.

4. The first standard of field work, which states that the work is to be adequately planned, and assistants, if any, are to be properly supervised, recognizes that
a) Early appointment of the auditor is advantageous to the auditor and the client.
b) Acceptance of an audit engagement after the close of the client’s fiscal year is generally not permissible.
c) Appointment of the auditor subsequent to the physical count of inventories requires a disclaimer of opinion.
d) Performance of substantial parts of the examination is necessary at interim dates.

5. An independent audit aids in the communication of economic data because the audit
a) Assures the reader of financial statements that any fraudulent activity has been corrected.
b) Confirms the accuracy of management’s financial representations.
c) Lends credibility to the financial statements.
d) Guarantees that financial data are fairly presented.

6. A CPA is most likely to refer to one or more of the three general auditing standards in determining
a) Whether the CPA should undertake an audit engagement.
b) The nature of the CPA’s report qualification.
c) The scope of the CPA’s auditing procedures.
d) Requirements for the review of internal control.

7. The first standard of field work recognizes that early appointment of the independent auditor has many advantages to the auditor and the client. Which of the following advantages is least likely to occur as a result of early appointment of the auditor?
a) The auditor will be able to complete the audit work in less time.
b) The auditor will be able to perform the examination more efficiently.
c) The auditor will be able to better plan for the observation of the physical inventories.
d) The auditor will be able to plan the audit work so that it may be done expeditiously.

8. Which of the following best describes the reason why an independent auditor reports on financial statements?
a) A management fraud may exist and is more likely to be detected by independent auditors.
b) Different interests may exist between the company preparing the statements and the persons using the statements.
c) A misstatement of account balances may exist and is generally corrected as the result of the independent auditor’s work.
d) Poorly designed internal control may exist.

9. What is the general character of the three generally accepted auditing standard classified as general standards?
a) Criteria for content of the F/S and the auditor’s report.
b) Criteria of audit planning and supervision and evidence gathering.
c) The need to maintain an independence in mental attitude in all matters relating to the assignments.
d) Criteria for competence, independence and professional care of individuals performing the audit.

10. A CPA, while performing an audit, strives to achieve independence in appearance in order to
a) Reduce risk and liability.
b) Comply with the generally accepted standards of field work.
c) Become independent in fact.
d) Maintain public confidence in the profession.

11. The “generally accepted auditing standards” are standards which
a) Are sufficiently established so that independent auditors generally agree on their existence.
b) Are generally accepted based upon a pronouncement of the Financial Accounting Standards Board.
c) Are generally accepted in response to the changing needs of the business community.
d) Are generally accepted as a consequence of approval of the AICPA membership.

12. The primary objective of the ordinary examination of financial statement by a CPA is the expression of an opinion on
a) The competence of management in accounting matters which is implied by whether the opinion is qualified or not.
b) The conformity of the statements with the book of account.
c) The conformity of the financial statements with generally accepted auditing standards applied on a basis consistent with that of the prior year.
d) The fairness with which the financial statements present cash flows and results of operations.

13. The primary responsibility for the adequacy of disclosure in the financial statements of a publicly held company rests with the
a) Partner assigned to the engagement.
b) Auditor in charge of field work.
c) Management of the company.
d) Securities & Exchange Commission.

14. A CPA should comply with applicable GAAS on every engagement
a) Without exception.
b) Except in examinations that result in a qualified report.
c) Except in engagements where the CPA is associated with unaudited F/S.
d) Except in examinations of interim financial statements.

15. Which of the following best describes what is meant by GAAS?
a) Audit objectives generally determined on audit engagements.
b) Acts to be performed by the auditor.
c) Measures of the quality of the auditor’s performance.
d) Procedures to be used to gather evidence to support financial statements.

16. The first general standard recognizes that regardless of how capable an individual may be in other fields, the individual can not meet the requirements of the auditing standards without the proper
a) Business and finance course.
b) Quality control and peer review.
c) Education & experience in auditing.
d) Supervision and review skills.

17. The first general standard requires that the examination of F/S is to be performed by a person having adequate technical training and
a) Independence with respect to the F/S and supplementary disclosures.
b) Exercising professional care as judged by peer reviewers.
c) Proficiency as an auditor which likely has been acquired from previous experience.
d) Objectivity as an auditor as verified by proper supervision.

18. Due professional care requires
a) A critical review of the work done at every level of supervision.
b) The examination of all corroborating evidence available.
c) The exercise of error free judgment.
d) A study and review of the I/C’s that include tests of controls

19. The third general standard states that due care is to be exercised in the performance of the examination. This standard means that a CPA who undertakes an engagement assumes a duty to perform each audit
a) As a professional possessing the degree of skill commonly possessed by others in the field.
b) In conformity with generally accepted accounting principles.
c) With reasonable diligence and without fault or error.
d) To the satisfaction of governmental agencies and investors who rely upon the audit.

20. According to court decision, GAAS established by the AICPA applies
a) Only to AICPA members.
b) To all CPA’s.
c) Only to those who choose to follow them.
d) Only when conducting audits subject to the AICPA jurisdiction.

21. Which of the following best describes the reason why an independent auditor reports on financial statements?
a) A management fraud may exist and is more likely to be detected by independent auditors.
b) Different interests may exist between the company preparing the statements and the persons using the statements.
c) A misstatement of account balances may exist and is generally corrected as the result of the independent auditor’s work.
d) Poorly designed internal control may exist.
(Yes, this is the same as #8, ask me why!!!)

22. The independent audit is important to readers of F/S because it
a) Determines the future stewardship of the management of the company whose financial statements are audited.
b) Measures and communicates financial and business data in the F/S.
c) Involves the objective examination of, and reporting on, management-prepared statements.
d) Reports on the accuracy of all information in the F/S.

23. Independent auditing can best be described as
a) A branch of accounting.
b) A discipline that attests to the results of accounting and other functional operations and data.
c) A professional activity that measures and communicates financial and business data.
d) A regulatory function that prevents the issuance of improper financial information.

24. What is the meaning of the GAAS that requires the auditor to be independent?
a) The auditor must be without bias with respect to the client under audit.
b) The auditor must adopt a critical attitude during the audit.
c) The auditor’s sole obligation is to third parties.
d) The auditor may have a direct ownership interest in the client’s business if it is not material.

25. The primary purpose of a management advisory services engagement is to help the client
a) Become more profitable by relying upon the CPA’s existing personal knowledge about the client’s business.
b) Improve the use of its capabilities and resources to achieve its objectives.
c) Document and quantify its future plans without impairing the CPA’s objectivity or allowing the CPA to assume the role of management.
d) Obtain benefits that are guaranteed implicitly by the CPA.

26. Operational auditing is primarily oriented toward
a) Future improvements to accomplish the goals of management.
b) The accuracy of data reflected in management’s financial records.
c) The verification that a company’s financial statements are fairly presented.
d) Past protection provided by existing internal control.

27. Because an examination i/a/w GAAS is influenced by the possibility of material errors, the auditor should conduct the examination with an attitude of
a) Professional responsiveness.
b) Conservative advocacy.
c) Objective judgment.
d) Professional skepticism.

28. The exercise of due professional care requires that an auditor
a) Use error-free judgment.
b) Consider the internal control structure, including tests of controls.
c) Critically review the work done at every level of supervision.
d) Examine all corroborating evidence available.

29. CPA firms should establish quality control policies and procedures for personnel management in order to provide reasonable assurance that
a) Employees promoted possess the appropriate characteristics to perform competently.
b) Personnel will have the knowledge required to fulfill responsibilities assigned.
c) The extent of supervision and review in a given instance will be appropriate.
d) All of the above are reasons.

30. The least important evidence of a CPA firm’s evaluation of its system of QC would concern the CPA firm’s policies and procedures for
a) Employment (hiring).
b) Confidentiality of audit engagements.
c) Assigning personnel to audit engagements.
d) Determination of audit fees.

Hi I want to know the topics on which question paper of RVPNL Accountant/Junior Accountant Exam is based so will you tell me?

[Arun Vats]

Ok, here I am providing you the topics on which question paper of RVPNL Accountant/Junior Accountant Exam is based

RVPNL Accountant/Junior Accountant Exam question is based on the following topics-

The question paper is divided into two sections

Part A: Accounting, Auditing and Texation (Graduate Level)- 200 Marks

Part B: General Awareness and G.English- 100 Marks

Duration: 180 Minutes
Total Questions: 200
Total Marks- 300
Paper Type: MCQ Based
Negative Marking: Not Applicable

Part A: Accounting (100 Question) in that Auditing related questions will be of 60 Qs. and taxation would be of 40 Qs. Will be asked.

Topic Required to Study: Corporate A/c ing, Income Tax and Law, Cost A/c, Auditing (Both Practical Question and Theory), Management A/c ing, Advanced Cost A/c, Adv. Financial System/accounting.

Part B: The paper II or part II refereed to the General English and General Awareness/current affairs related questions

This section will carry 100 questions scoring 1 mark for each right answer.

a) General English Section (Total Questions- 50)

Passage Comprehension
Vocab
Grammar (English Language)

b) General Awareness (Total Question: 30)

GK (Focused on Rajasthan state)
General Science
Natural Resources n Geo sciences
Indian Economy
Agriculture Sector
Indian and Rajasthan History and Culture

c) Reasoning (Mental Ability)- 20 Question

Competitive level reasoning only

Contact details

Rajasthan Rajya Vidyut Utpadan Nigam
Industrial Area, Gandhi Nagar,
Jaisalmer, Rajasthan

Map location

[MAP]Rajasthan Rajya Vidyut Utpadan Nigam[/MAP]