I previously wrote that Chapters 23, 24, 26, 27 do not exist. That was wrong — I had only the Part-1 index. Now that both parts are uploaded, the book is confirmed as two volumes:
Part 1 — Ch 1–22 (Introduction → PFMS) + its own MCQ bank and answer key
Part 2 — Ch 23–28 (page numbers restart): 23 Taxation · 24 Cost Accounting · 25 Cost Management & Budgetary Control · 26 Indian Financial Management System · 27 Developments in Accounting · 28 Additional Content on Previous Topics
The original analysis's chapter references were therefore right all along, and its 2024 question numbers (Q31–Q60) were right too. The analysis is accurate for 2024 — only its 2022 numbering is wrong.
Paper: Finance Accounts Assistant OMR Exam 2024, Set A · Accountancy = Q31–Q60.
Answers: from the answer block inside 2024-paper.md (AI-generated, not an official JKSSB key); I re-solved and they agree.
Coverage:26 / 30 fully mapped; 4 genuine gaps remain even with all 27 chapters (listed at the end).
Ch 1 — Introduction to Accounting
Q
Question
Ans
Note
34
Book Keeping is regarded as the ___ step of accounting — A) Fourth B) Secondary C) Third D) First
D
Book-keeping is the first/primary stage — routine recording. Ladder: Book-keeping → Accounting → Auditing.
Ch 3 — Basic Accounting Concepts
Q
Question
Ans
Note
36
Which concept suggests the exclusion of human resource in the balance sheet? — B) Money Measurement
B
⭐ Identical to 2022·Q105 — asked in both papers.
51
Which entities generally keep books under the single entry system? — B) Sole traders
B
Suits small sole traders; companies must use double entry. (Also Ch 17.)
Ch 4 — Accounting Equation
Q
Question
Ans
Note
35
Which is correct? — A) equity = asset + liability B) liability = asset + equity C) asset = liability + equity D) equity = liability
C
The fundamental equation: Assets = Liabilities + Capital.
Ch 6 — Voucher Approach in Accounting
Q
Question
Ans
Note
37
Procedure for preparing a voucher — A) verify date/amount/signature B) confirm authorised signatory approved C) select voucher type D) All of the above
D
All three are standard steps in the voucher approach.
38
Which business document is proof of payment? — A) Receipt B) Invoice C) Debit note D) None
A
A receipt proves money actually moved; an invoice only demands payment. (Also Ch 2.)
Ch 7 — Ledger Accounts
Q
Question
Ans
Note
33
Suppliers' personal a/c are seen in the — A) Sales Ledger B) Nominal ledger C) Purchases Ledger D) General Ledger
Transferring items from a journal into their respective ledger accounts is — A) Balancing B) Arithmetic C) Entry D) Posting
D
Journalising = record in journal; Posting = transfer to ledger.
Ch 10 — Trial Balance
Q
Question
Ans
Note
50
Trial balance helps check the accuracy of the — A) Balance sheet B) Ledger C) Journals D) Cash flow statement
B
It verifies the arithmetical accuracy of ledger posting. It cannot catch errors of principle or compensating errors.
Ch 15 — Bank Reconciliation Statement ⭐ (biggest block in 2024)
Q
Question
Ans
Note
39
In a bank statement, cash deposited is shown as — A) debit B) credit C) expense D) profit
B
From the bank's view the customer is a creditor, so deposits are credited.
40
What is "Deposit in transit" in bank reconciliation? — A) Added to Bank Balance B) Subtracted from Bank Balance C) Subtracted from Cash Book D) Added to Cash Book
A
Recorded in the cash book but not yet by the bank → add to the bank balance.
41
Cheques issued by a firm but not yet presented — A) Uncredited B) Outstanding cheques C) Uncollected D) Bounced
B
Also called unpresented cheques — a classic timing difference.
49
A bank pass book is a copy of — C) The customer account in the bank's ledger
C
⭐ Identical to 2022·Q93.
Ch 16 — Partnership Accounts
Q
Question
Ans
Note
44
What happens when interest on drawings is charged to a partner? — C) Debited to partner's capital a/c
C
Interest on drawings is a gain to the firm → debited to the partner (credited to P&L Appropriation).
45
M and N share 3:2; P admitted for 1/5th share → new ratio?
B — 12:8:5
P takes 1/5; remaining 4/5 split 3:2 → M = 4/5×3/5 = 12/25, N = 8/25, P = 5/25 → 12:8:5.
58
Goodwill valued ₹30,000, appearing in books at ₹12,000. Z admitted for 1/4 share → amount Z brings for goodwill?
C — ₹7,500
Z brings his share of the valued goodwill: 30,000 × 1/4 = 7,500. (The ₹12,000 book value is written off separately.)
Ch 17 — Cash-Based Single Entry System
Q
Question
Ans
Note
43
Statement of financial position produced from incomplete records — B) Statement of affairs
B
⭐ Identical to 2022·Q107.
Ch 18 — Financial Management
Q
Question
Ans
Note
48
Current Ratio = — A) Current assets / Current liabilities
A
⚠️ Gap: Ch 18 mentions ratio analysis but does not give the formula. Learn it externally.
53
What does financial leverage measure? — C) The sensitivity of EPS w.r.t. % change in the EBIT level
C
⚠️ Gap: not defined in Ch 18. DFL = % change in EPS ÷ % change in EBIT.
Ch 19 — Financial Audit
Q
Question
Ans
Note
47
Audit undertaken to check financial controls and irregularities — A) System B) Compliance C) Internal audit D) Statutory
C
Internal audit reviews internal controls and irregularities on management's behalf.
Ch 22 — Public Financial Management System
Q
Question
Ans
Note
42
PFMS was earlier known as — A) Central Plan Schemes Monitoring System (CPSMS)
A
⭐ Identical to 2022·Q86.(Note: the analysis labels this "PFMS Full Form" — it is actually the former name.)
Ch 23 — Taxation, Tax Laws (Direct & Indirect) ⭐ (new in 2024)
Q
Question
Ans
Note
52
GST is a consumption tax based on — D) Destination
D
GST is destination/consumption-based — revenue goes to the consuming state. ✓ Ch 23.
55
Income accruing and received outside India is taxable for — A) Resident and Ordinarily Resident
A
Only ROR is taxed on global income. ✓ Ch 23 (residential status).
59
Assertion: interest payable outside India requires TDS. Reason: if not deducted, the interest is disallowed as a business deduction.
A
Both correct and R explains A — non-deduction triggers disallowance (Sec 40(a)(i)). ✓ Ch 23 covers TDS.
57
Amount payable on closure/opting out of NPS u/s 80CCD is exempt to the extent of ___ of the total
C — 40%
⚠️ Gap: Ch 23 covers income-tax basics but not the 80CCD deduction limits. Learn externally.
56
Included in the definition of "Goods" u/s 2(52) CGST Act — B) Actionable claim
B
Sec 2(52) covers movable property including actionable claims, excluding money & securities. ⚠️ Only lightly touched (Ch 27).
Ch 24 — Cost Accounting ⭐ (new in 2024)
Q
Question
Ans
Note
31
Fixed cost is a cost — C) Which does not change in total during a given period despite changes in output
C
Fixed in total, but varies per unit (option D is the classic trap). ✓ Ch 24.
32
Prime cost from: material purchased 1,00,000 · material consumed 90,000 · direct labour 60,000 · direct expenses 20,000 · mfg overheads 30,000
C — ₹1,70,000
Prime cost = material consumed + direct labour + direct expenses = 90,000+60,000+20,000. Purchased and overheads are distractors. ✓ Ch 24.
60
Sale ₹25/unit; variable mfg ₹12; variable selling ₹3; fixed factory ₹5,00,000; fixed selling ₹3,00,000 → units to earn profit ₹1,80,000
A Finance Bill becomes the Finance Act when passed by — C) Both Houses of Parliament and signed by the President
C
✓ Ch 26 covers the Finance Bill/Act process.
(96)
Commercial Paper — unsecured money-market instrument
—
Outside the accountancy block (Economics section) but ✓ covered in Ch 26.
📊 Chapter-wise distribution — 2024 (Q31–60)
Chapter
Questions
Count
Ch 15 — Bank Reconciliation Statement
39, 40, 41, 49
4 ⭐
Ch 23 — Taxation
52, 55, 56, 57, 59
5 ⭐
Ch 16 — Partnership Accounts
44, 45, 58
3
Ch 24 — Cost Accounting
31, 32, 60
3
Ch 3 — Accounting Concepts
36, 51
2
Ch 6 — Voucher Approach
37, 38
2
Ch 7 — Ledger Accounts
33, 46
2
Ch 18 — Financial Management
48, 53
2
Ch 1 — Introduction
34
1
Ch 4 — Accounting Equation
35
1
Ch 10 — Trial Balance
50
1
Ch 17 — Single Entry
43
1
Ch 19 — Financial Audit
47
1
Ch 22 — PFMS
42
1
Ch 26 — IFMS
54
1
Total
30
⚠️ The 4 genuine gaps (even with all 27 chapters)
Q
Topic
Why it's a gap
48
Current Ratio formula
Ch 18 names ratio analysis but gives no formulas
53
Financial Leverage definition
Not defined in Ch 18
57
Sec 80CCD NPS exemption %
Ch 23 lacks Chapter VI-A deduction limits
56
"Goods" u/s 2(52) — actionable claims
Only lightly touched
Your external-study list is now very short
Just ratio formulas (current, quick, debt-equity), leverage (operating/financial/combined), and Income-Tax Chapter VI-A deductions (80C, 80CCD, 80D, 80G). Everything else in both papers is inside your notes.
🔀 2022 vs 2024 — what actually repeats
Topic
2022
2024
Verdict
Money Measurement (human resource)
Q105
Q36
⭐ Identical — memorise
PFMS earlier known as (CPSMS)
Q86
Q42
⭐ Identical — free mark
Bank pass book is a copy of
Q93
Q49
⭐ Identical — free mark
Statement of affairs
Q107
Q43
⭐ Identical — free mark
Accounting equation (Ch 4)
Q83
Q35
✅ Every year, different form
BRS (Ch 15)
2 Qs
4 Qs
📈 Growing — now the biggest block
Partnership (Ch 16)
2 Qs
3 Qs
📈 Growing
Financial Audit (Ch 19)
Q81
Q47
✅ 1 every year
Single Entry (Ch 17)
2 Qs
1 Q
✅ Steady
Taxation (Ch 23)
—
5 Qs
🚨 New & heavy
Cost Accounting (Ch 24)
—
3 Qs
🚨 New
Final Accounts (Ch 12–14)
6 Qs
0
📉 Vanished in 2024
Double Entry (Ch 5)
7 Qs
0
📉 Vanished in 2024
🎯 The single most important insight for your prep
The paper changed character between 2022 and 2024. 2022 was a fundamentals paper (Ch 2 + Ch 5 + Final Accounts = 18 of 30). 2024 shifted to applied finance (Taxation 5 + BRS 4 + Costing 3 = 12 of 30), and Ch 5 and Final Accounts disappeared entirely.
Prepare for both shapes. The safest core across the two papers: Ch 15 (BRS) · Ch 16 (Partnership) · Ch 23 (Taxation) · Ch 24 (Costing) · Ch 3/4 (Concepts & Equation) · Ch 22 (PFMS) · Ch 19 (Audit) · Ch 17 (Single Entry) — plus keep Ch 2 and Ch 5 solid in case the paper swings back to fundamentals.
