SEBI Grade A Commerce & Accountancy Practice Question
SEBI Grade A Commerce & Accountancy Practice Question

SEBI Grade A Commerce & Accountancy Practice Question

Practice Questions Set for SEBI Grade-A 2022. SEBI Grade A Commerce & Accountancy Practice Question Set with answers Phase I & Phase II (General Stream). SEBI Grade A Study Material, Books, PDFs, Free Notes, and Mock Test for of Commerce Accountancy. As we all know that The Security Exchange Board of India (SEBI) has released the SEBI Grade A 2022 Notification for the recruitment of 120+ Assistant Managers across the country.

If you are preparing for SEBI Grade A 2022, you will come across a section on “Commerce & Accountancy”. In this post, you will get sample questions for SEBI Grade A Commerce & Accountancy section. If you prepare this thoroughly, you can very easily crack SEBI Grade A 2022.

SEBI Grade A 2022: Commerce & Accountancy Practice Question | Set-1


1. The debts which are to be repaid within a short period (year or less) are known as-

A. Contingent liabilities

B. Fixed liabilities

C. Current liabilities

D. All of the above

E. None of these

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Correct Answer –C. Current liabilities

Explanation: The debts which are to be repaid within a short period (year or less) are known as Current liabilities. Current liabilities are a company’s debts or obligations that are due within one year or within a normal operating cycle.

2. Patents, Copyrights, and Trademarks are-

A. Intanible Assests

B. Fixed Assests

C. Investment

D. Current Assests

E. None of these

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Correct Answer –A. Intanible Assests

Explanation: Patents, Copyrights and Trademarks are Intangible assets. An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.

3. The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as-

A. Intanible Assests

B. Fixed Assests

C. Investment

D. Current Assests

E. None of these

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Correct Answer –D. Current Assests

Explanation: The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as Current assets. Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.

4. The long term assets that have no physical existence but are rights that have value is known as-

A. Intanible Assests

B. Fixed Assests

C. Investment

D. Current Assests

E. None of these

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Correct Answer – A. Intanible Assests

Explanation: The long term assets that have no physical existence but are rights that have value is known as Intangible assets. An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.

5. Accounting provides information on-

A. Financial conditions of an institutions

B. Company’s tax liability for a particular year

C. Cost and income for managers

D. All of the above

E. None of these

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Correct Answer – D. All of the above

Explanation: Accounting provides information on Cost and income for managers, Company’s tax liability for a particular year and Financial conditions of an institutions.

6. In Journal, the business transaction is recorded-

A. Once in a month

B. Once in a week

C. Next Day

D. Same day

E. None of these

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 Correct Answer – D. Same day

Explanation: In Journal, the business transaction is recorded Same day. A journal, which is also known as a book of original entry, is the first place that a transaction is written in accounting records.

7. Real account records-

A. Gains and losses

B. Dealings in commodities

C. Dealings with creditors or debtors

D. All of the above

E. None of these

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Correct Answer – B. Dealings in commodities

Explanation: Real account records Dealings in commodities.

8. The account that records expenses, gains and losses is-

A. Nominal account

B. Real account

C. Personal account

D. Both A & B

E. None of the above

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Correct Answer – A. Nominal account

Explanation: The account that records expenses, gains and losses is Nominal account. A nominal account is an account in which accounting transactions are stored for one fiscal year.

9. Any written evidence in support of a business transaction is called-

A. Voucher

B. Ledger posting

C. Ledger

D. Journal

E. None of the above

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Correct Answer –A. Voucher

Explanation: Any written evidence in support of a business transaction is called Voucher. Vouchers are the primary evidence of business transactions having taken place.

10. The sales income (Credit and Cash) of a business during a given period is called-

A. Purchase Returns

B. Turnover

C. Sales Return

D. Transactions

E. None of these

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Correct Answer – B. Turnover

Explanation: The sales income (Credit and Cash) of a business during a given period is called Turnover. In the investment industry, turnover is defined as the percentage of a portfolio that is sold in a particular month or year.

SEBI Grade A (Assistant Manager) 2022 Preparation Book (VOL. I) of Commerce & Accountancy, Management, and Finance

Best Book for SEBI Grade A 2022 - Commerce & Accountancy, Management, and Finance
Best Book for SEBI Grade A 2022 – Commerce & Accountancy, Management, and Finance

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SEBI Grade A Officer Exam 2022 – Important Links

Official Notification Exam Pattern and Syllabus Preparation Tips & Tricks
Previous Year Paper PDF Best Preparation Books Exam Date
Admit Card SEBI Result Complete Study Material
SEBI Grade A Complete Book (VOL. I) of Commerce Accountancy, Management, and Finance
SEBI Grade A Complete Book (VOL. II) of Costing, Companies Act and Economics