The PFRDA Grade A Commerce and Accountancy Practice Quiz is a useful resource for candidates preparing for the General Stream exam. Regular practice helps candidates revise important concepts, improve accuracy, and understand the type of questions asked in the exam. The quiz covers key areas from Commerce and Accountancy and can help candidates identify topics that need more revision. Candidates can also use the free PDF for quick practice during their preparation.
Download PFRDA Grade A Commerce and Accountancy Practice Quiz PDF
The PFRDA Grade A Commerce and Accountancy Practice Quiz has been prepared to help candidates practice important questions from the General Stream syllabus. It covers topics such as accounting principles, accounting standards, financial statements, ratio analysis, cash flow statements, share capital, and other important areas.
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Attempt PFRDA Grade A Commerce and Accountancy Practice Quiz
Attempting the PFRDA Grade A Commerce and Accountancy Practice Quiz regularly can help candidates improve their understanding of important topics. It also helps them become familiar with objective-type questions and manage their time better.
1. Which of the following best defines accounting as an information system?
2. Which of the following is an internal user of accounting information?
3. The ‘Double Entry System’ of book-keeping means:
4. Which branch of accounting is primarily concerned with providing general-purpose financial statements to external stakeholders as per statutory requirements?
5. The ‘Business Entity Concept’ states that:
6. Which accounting concept requires that revenue be recognised when earned and related expenses be recognised in the same period, irrespective of the timing of cash flows?
7. Which of the following is NOT a qualitative characteristic of financial information as per the Conceptual Framework?
8. Under the accrual basis of accounting, revenue is recognised when it is:
9. As per AS-6/Ind AS 16, depreciation is best described as:
10. As per AS-2, the cost of inventories comprises:
11. Under AS-9, revenue from the sale of goods is recognised when:
12. As per AS-10 (Property, Plant and Equipment), the cost of a fixed asset includes:
13. As per AS-11, exchange differences arising on the settlement of monetary items denominated in a foreign currency are:
14. As per AS-13, current investments should be valued in the financial statements at:
15. Which method of depreciation charges a higher amount in the earlier years of an asset’s life compared to the later years?
16. Which of the following inventory valuation methods is NOT permitted under AS-2/Ind AS 2?
17. Revenue from service transactions is generally recognised under AS-9 using:
18. When a fixed asset is revalued upward, the resulting surplus is generally credited to:
19. Under AS-11, which of the following is classified as a monetary item?
20. As per AS-13, long-term investments are usually carried in the books at:
Quiz Summary
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What is the PFRDA Grade A Commerce and Accountancy syllabus?
The Commerce and Accountancy section is an important part of the PFRDA Grade A General Stream syllabus. It covers basic accounting concepts, accounting standards, financial statements, cash flow and fund flow statements, ratio analysis, and company-related accounting topics.
| Topic | Important Areas |
| Accounting as a Financial System | Basic accounting concepts and principles |
| Accounting Standards | Depreciation, inventories, revenue, fixed assets, forex, investments |
| Cash Flow & Fund Flow Statements | Cash flow, fund flow, sources and uses of funds |
| Financial Statements | Preparation and analysis of financial statements |
| Ratio Analysis | Important financial ratios and their interpretation |
| Share Capital Transactions | Bonus shares, rights shares and related transactions |
| ESOP & Buy-back | Employee Stock Options and buy-back of shares |
| Final Accounts of Companies | Company final accounts and related concepts |
What is the PFRDA Grade A Commerce and Accountancy exam pattern?
Commerce and Accountancy are part of the PFRDA Grade A General Stream Paper 2 syllabus in both Phase 1 and Phase 2. In Phase 1, Paper 2 consists of 50 MCQs carrying 100 marks, covering Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics, and the Pension Sector, with a duration of 40 minutes. In Phase 2, Paper 2 also consists of 50 MCQs carrying 100 marks and covers the same subjects.
| Phase | Paper | Subjects Covered | Maximum Marks | Questions | Duration |
| Phase 1 | Paper 2 | Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics and Pension Sector | 100 | 50 | 40 minutes |
| Phase 2 | Paper 2 | Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics and Pension Sector | 100 | 50 | 40 minutes |
Why should you attempt the PFRDA Grade A Commerce and Accountancy Practice Quiz?
Practice quizzes help candidates check their preparation and understand where they stand before the examination. The PFRDA Grade A Commerce and Accountancy Practice Quiz can be used for both revision and self-assessment. It also helps candidates practise objective questions within a limited time. Candidates should attempt quizzes regularly and revise the topics where they make mistakes.
- Helps revise important topics quickly.
- Improves accuracy and question-solving speed.
- Helps identify weak areas.
- Builds confidence for the exam.
- Supports regular revision and practice.
FAQs
Yes, Commerce and Accountancy is included in the PFRDA Grade A General Stream syllabus and is tested through Paper 2.
The syllabus includes accounting concepts, accounting standards, financial statements, ratio analysis, cash flow and fund flow statements, share capital, ESOP, buy-back, and company final accounts.
The quiz helps candidates practise important questions, revise concepts, improve accuracy, and identify topics that require more preparation.
Paper 2 consists of 50 objective-type questions carrying 100 marks.
Yes, the General Stream Paper 2 covers Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics, and the Pension Sector in both phases.
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