Union Bank – Accountancy MOCK TEST

Union Bank Accountancy MOCK TEST

Union Bank Accountancy MOCK TEST:- As the Internal Promotion Exams for the employees of Union Bank are going to be held on the 5th of December this year (Clerical to Officer [Scale-I]), so obviously as a Union Banks employee you would be looking for the material you can prepare the exams from. 

(We hope that you have yourself registered for the exams as the last date to file the application was the 6th of November 2021)

And if you have come here looking in search of Mock Tests for UBI Exams, then you are at the right site. Learning Sessions provides Best Study Material & Mock tests for bank promotions exams of all the banks (all Public as well as Private Sector Banks) at the lowest price in the market. You can also access or take online Free Mock Tests available on our website.

You can even download this mock test in the pdf file, the link of which is provided at the last of this article to test your conceptual clarity.

Important Topic:- UBI PROMOTION EXAM DATE 2021-2022

Set up your time to 20 minutes & then start solving the questions and then check out how you did in the test as to how much you scored in the tests. 


Below you are provided with the syllabus that has been prescribed by the Union Bank for the above-mentioned Exams of internal promotion this year:

Syllabus: Accountancy
Rules for Journalising, Adjusting, Closing, Transfer Et Rectification Entries, Trial Balance, Preparation of Trading and Profit Et Loss Account & Balance Sheet of sole trader, Accounts of non-trading concern, Bills of Exchange and the treatment thereof, Sectional system of Self-balancing Ledgers, Consignment and Joint Venture Accounts, Simple partnership Accounts, Company Accounts – Issue of Shares a Debentures


Read Also:- UNION BANK – BANK PROMOTION EXAMS Short Notes Part-3


No Questions:
1 The formula for calculating Capital employed is:

  1. Fixed Assets + Current Assets + Current Liabilities
  2. Fixed Assets + Current Assets – Current Liabilities
  3. Fixed Assets – Current Assets + Current Liabilities
  4. Fixed Assets – Current Assets – Current Liabilities
2 Which of the following standards allows expenses to be presented based on their functions or nature?

  1. US GAAP
  2. Indian GAAP
  3. IFRS
  4. Depends upon the implementation
3 Which of the given expenses should not be treated as an expense of capital nature?

  1. Legal expenses has been incurred to defend a suit related to title of patent and the suit has been lost.
  2. Cost of dismantling a building when a new building is to be constructed on the same land
  3. Expenses that are paid for the installation of a plant.
  4. The engineers fee for the construction of the plant.
4 Which of the following statement is true?

  1. Both Book-keeping & Accounting are complementary to each other as accounting starts from the point where book-keeping ends
  2. The terms: Accounting and Book- Keeping are used Synonymously
  3. Accounting starts from where the Book-Keeping ends
  4. Book-Keeping and Accounting both are Complementary to each other
5 Which is the accounting method that recognizes and records revenue and expenses when the products or services are actually sold to customers?

    1. credit system of accounting
    2. accrual system of accounting
    3. cash system of accounting
  • debit system of accounting
6 Earnings Per Share (EPS) is calculated by which of the following formula?

    1. Net Profit / No. Of Ordinary Shares Outstanding
    2. Gross Profit / No. Of Equity Shareholders
    3. Net Profit / No. Of Equity Shareholders
  • Gross Profit / No. Of Ordinary Shares Outstanding
7 Accounting entry of closing balance is recorded for which of the following

  1. Liabilities & Expenses A/Cs
  2. Incomes & Expenses A/Cs
  3. Liabilities & Owner’S Equity A/Cs
  4. Assets & Liabilities A/Cs
8 What is or are the benefit of the implementing accounting standards?

    1. They Facilitate Comparison of Financial Statements of different companies
    2. They Call For Disclosure Beyond what is Required By Law
    3. They Eliminate Altogether Confusing Variations
  • All The Above Are the Benefits
9 What is or the purposes of accounting standard?

  1. They Lower the Accounting Dissimilarities
  2. They Ensures Comparability of Financial Statements
  3. They Standardize Diverse Accounting Policies
  4. All Of The Above
10 Which of the following financial statement provides information on the profitability of a company over a period of time?

  1. Cash Flow Statement
  2. Income Statement
  3. Balance Sheet
  4. None of the above statements
11 Goodwill can be classified into which of the following categories?

  1. Purchased Goodwill
  2. Self-generated Goodwill
  3. Both of the above
  4. None of the above options
12 Which of the following statement is incorrect?

  1. A shareholder is a company agent.
  2. A company is a legal entity which is distinct (separate) from its members.
  3. A company can buy its own share
  4. Same person can be an agent and creditor of the company
13 Which of the following statement is not true?

  1. A company can raise funds beyond its Authorised or registered capital.
  2. Dividend that has been declared is classified in the balance sheet as a current liability.
  3. Dividends are usually paid as a percentage of the paid-up-capital amount.
  4. As per the companies act, preference shares that are redeemable within 20 years can be issued only.
14 Which of the following is not a statistical book of a company?

  1. Share application and allotment book
  2. Register of share warrants
  3. Register of debenture holders
  4. Register of shares and debentures that are transferred
15 Which of the following will not be recorded in the books of accounts?

  1. Paid rent for office premises Rs.17,000.00
  2. Paid commission for purchase of raw material Rs. 2500.00
  3. Purchased goods on credit Rs. 35,000.00 for resale
  4. Resignation of the manager, Mr Aman Diwan
16 Sales book records what of the following transactions?

  1. goods that are sold for cash
  2. credit sales of goods or services 
  3. all sales of goods that are dealt in
  4. all sales whether it’s of goods or assets
17 Income is measured on the basis of which of the given concepts?

  1. cost concept
  2. consistency concept
  3. matching concept
  4. None of the above concepts
18 In which of the following areas, different accounting policies can be adopted?

  1. inventory valuation 
  2. investment valuation
  3. Depreciation calculation
  4. All of the above
19 The trial balance checks what of the following?

  1. closing stock valuation
  2. arithmetical accuracy of books of accounts 
  3. valuation of liabilities
  4. valuation of assets
20 Return inwards are deducted from which of the following?

  1. purchases
  2. return outwards
  3. sales 
  4. closing stock


1 b 11 a
2 c 12 a
3 a 13 a
4 a 14 c
5 b 15 d
6 a 16 b
7 b 17 c
8 d 18 d
9 d 19 b
10 b 20 c



We also offer mock tests that are free of cost for the bank promotion exams in every bank on all scales. There are a total of 13 Free Mock Tests that you can have access to when you sign up on our website.

You can also avail multiple choice question bank for bank internal promotion exams that contain more than 2500 specially designed questions on every important topic in the banking syllabus which are also followed by answers and hints to the selected questions. 

MOCK TEST PDF: you can download the Mock Test given above from here:- DOWNLOAD PDF


You can prepare for your internal promotional exams with the help of Learning Sessions Study Material (available in the form of video lectures). This is available in a mixed Language of English & Hindi. You will also be getting access to Epdf notes so that once you are done with the lectures you can go through the video lectures. This study material will have the following contents:

Internal Promotion Study Material (Clerical to Officer [Scale-I]) includes:

    • Previous Year Questions in the form of MOCK TESTS
  • One-Liners: These are for quick revision of syllabus/topics
    • Memory Recalled Questions
  • Bank Promotion Awareness Capsule (pdf):
  • Latest Finance updates
  • Latest Rates
  • Latest Policies
  • Last 2 months financial updates
  • Compete Tests
  • Epdf notes: They will be accessible through our android app only

Prepare yourself for your exams and may you get this promotion!!


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