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JAIIB AFM Memory Based Questions
In the competitive world of professional banking, cracking the JAIIB AFM exam is a significant milestone for the career growth of banking and financial sector employees. Accounting and Financial Management Of Banking is the 3rd Paper of JAIIB. The subject is designed to equip banking professionals with a comprehensive understanding of accounting and financial concepts relevant to the banking industry. JAIIB AFM Paper cannot be qualified without practicing the questions as it provides a deep comprehension of all the topics. In this post, we have provided JAIIB AFM Memory Based Questions completely based on the revised JAIIB Syllabus.
JAIIB AFM Memory Based Recollected Questions
JAIIB AFM Memory Based Questions Free PDF is a stepping stone towards achieving professional goals for an aspirant. The free PDFs of JAIIB AFM Asked Questions provide a valuable tool for aspirants to refine their preparation strategy, gain confidence, and excel in the examination.To help candidates in their preparation for the exam, we have compiled the JAIIB AFM Memory Based Recollected Questions on the basis of JAIIB AFM Exam 2023 for the May session. By practicing these questions, aspirants can improve their time management skills, enhance their problem-solving abilities, and boost their confidence levels.
JAIIB AFM Memory Based Questions Free PDF
The link to download the JAIIB AFM Memory Based Recollected Questions Free PDF has been given below. For the sake of aspirants, we have also provided some questions for practice.
JAIIB AFM Memory Based Questions Download Free PDF
JAIIB AFM Questions For Practice
Directions (Q1-3)
XYZ Ltd. is a manufacturing company that has been in operation for the past five years. The company’s assets include plant and machinery, furniture, and fixtures, and it follows the straight-line method of depreciation. The company has the following assets with their respective original costs and estimated useful lives for the year 2022-2023:
Asset – Original Cost Estimated Useful Life
Plant and Machinery – ₹50,00,000 10 years
Furniture – ₹5,00,000 5 years
Fixtures – ₹2,00,000 2 years
The company has the following transactions during the current financial year:
(i) The company purchased a new plant and machinery for ₹10,00,000 on 1st April 2022.
(ii) The company sold the old plant and machinery costing ₹10,00,000 for ₹2,00,000 on 1st July 2022.
Based on the above information, answer the following questions:
Q1. What is the annual depreciation expense for plant and machinery?
- ₹5,00,000
- ₹4,50,000
- ₹5,50,000
- ₹4,00,000
S1. Ans. (a)
Q2. What is the total depreciation expense for the furniture for the financial year 2024-25?
- ₹5,00,000
- ₹2,00,000
- ₹1,00,000
- ₹3,00,000
S2. Ans. (d)
Q3. What is the net book value of plant and machinery as of 31st March 2023?
- ₹40,00,000
- ₹33,75,000
- ₹45,50,000
- ₹38,25,000
S3. Ans (b)
Q4. What is the purpose of reconciling control and subsidiary records in the branch level accountancy, and what is the main challenge that persists even with computerization?
- The purpose of reconciling control and subsidiary records in branch-level accountancy is to ensure that all the subsidiary ledger balances match the control account balance in the general ledger. The main challenge that persists even with computerization is the reconciliation of outstanding entries in the suspense and sundry deposit accounts.
- The purpose of reconciling control and subsidiary records in branch-level accountancy is to ensure that all the subsidiary ledger balances match the control account balance in the general ledger. The main challenge that persists even with computerization is the balancing of the books of account.
- The purpose of reconciling control and subsidiary records in branch-level accountancy is to ensure that all the subsidiary ledger balances match the control account balance in the general ledger. The main challenge that persists even with computerization is the identification of errors committed in posting/balance calculation, writing in the day book or in total, or while posting in the GL control account.
- The purpose of reconciling control and subsidiary records in branch-level accountancy is to ensure that all the subsidiary ledger balances match the control account balance in the general ledger. The main challenge that persists even with computerization is the reconciliation of entries in the sundry deposits account.
S4. Ans. (a)
Most Important Questions for JAIIB AFM
JAIIB AFM Asked Questions Features
JAIIB AFM Memory Based Questions is beneficial for candidates as it has the following features.
- Questions from various topics and subtopics of AFM
- Excellent resource for providing the exam environment
- Prioritization Of Topics
- Self-Assessment
- Enhancing Conceptual Clarity
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