ASSESSMENT I

Time: 45 minutes

Marks: 50

Part - A
ENGLISH
(10*1=10)
1) We_______________ at the cinema theatre when it began to rain.
a) Is

b) are

c) were

d) went

2) The rich _______________ not always happy.

a) Is

b) are

c) can

d) will

3) They ______________to play since yesterday.

a) Have wanted

b) wanted c) wanting

d) being wanted

4) It_______________cloudy tomorrow.
a) Will be

b) may

c) can

d) were

5) The cat and dog____________sitting under the tree.

a) is

b) are

c) were

d) was

6) Would you like some more to eat, No thank you I've had more enough already.
a) Food

b) plenty

c) much

d) full

7) He_____________sleep during the long lecture.

a) Fall

b) fell

c) felt

d) feel

8) Call me after you get back from the trip.

a) I am sorry to heart that
c) Ill surely do that

b) why should you call?

d) why dont you call?

9) She__________my pen yesterday.

a) Borrows

b) borrowed c) lend d) gave

10) To be so exited that you loss your control is to get.

a) Carried out

b) carried away

c) carried off d) carried in

Part - B
ACCOUNTS & BUSINESS
(Multiple Choice)
(10*1=10)
11) What is an IPO?
a) International Public Offer
b) Industrial Public Offer
c) Indian Public Offer
d) Initial Public Offer
12) What is pre-IPO?
a)
b)
c)
d)

Buying a stock in company after the company makes it Initial public offering
Buying a stock in company before the company makes it initial public offering
Buying a stock in a company
Selling or buying a stock in a company.

13) Charity, Trust organizations are examples of.

a) Business organization.
c) Non profit organization.

b) Religious corporation.
d) Government organization.

14) ___________ is a type of take over where a private company aquires a public
Company.
a) Forward take over
c) Horizontical take over

b) Reverse take over

d) Vertical take over

15) XYZ Limited purchased ABC Limited and changes the name of ABC to PQR
immediately after the purchases, what will be status of ABC ltd?
a) Subsidiary of XYZ Ltd.
c) Will become extinct.

b) Work as a private company.

d) None of above.

16) Name of the 3 activites under cash flow statement.

a) Operating, administrative and technical.
b) Technical, Managerial and operating.
c) Operating, investing and financial activities.
d) Administrative, financing and technical.
17) Name of the 4 important financial statements and organization main.
a) Balance sheet, Income statement, option activities and Business segment
b) Income statement, Balance sheet, share holders equity and cash flow
Statement.
c) Cash flow statement, Income statement, Business segment, option activities.

d) Business segment, cash flow, fund flow and option activity.

18) __________ is the decrease in the value of tangible asset (machinery and
Land)
a) Depreciation

b) Depilation

c) Amortization

d) Appreciation.

19) ______________ is the deduction of the capital expenses of the value over a
specific period of time in intangible assets (patents, copyrights)
a) Deprecation

b) depilation

c) Amortization

d) Appreciation.

20) What is LLC?

a) Limited Liability Company
c) Linked Limited company

b) Liability Limited Company

d) Limited Liability Corporation.

Part - C
ACCOUNTS & BUSINESS (Descriptive)
(20 * 1 = 20)
21) Define Working Capital.
22) What is Take-over?
23) What do you mean by deferred revenue expenditure?
24) What is a contingent Liability?
25) What is operating lease?
26) Define EPS, EBIT and EBITDA.
27) What is Green Shoe Option?
28) What is Mutual Fund?
29) What do you mean by AMC?
30) What is ADR?
31) What are Predecessor and Successor companies?
32) What is a call option?
33) What do you mean by ownership stock?
34) What is Insider Trading?

35) Mr. X is expecting to run his business fairly for a much longer term what basic
accounting concept is behind this statement?
36) Increase DO NOT NECESSARILY equal to
37) What are Unexpired Expenses?
38) What is Temporary Working Capital?
39) What is Obsolescence?
40) What is EOQ?
41) Write journal entries for the following: (1 * 5 = 5)
Outstanding expenses
Income received in advance
Provision for bad and doubtful debts
Interest on drawings
Prepaid expenses
Part D
42) Write an Essay on any of the following Topics: (1 * 5 = 5)
Is BRICs really emerging as a superpower among developing nations, when
compared with SAARC, G-8 and UNO?
What lesson do the World Nations have to learn from Japans Atomic Incident?
Do you think that the India is encouraging corruption?