1.

A customer has been defined in – KYC Guidelines

2.Branch account under debtor’s system is a- Nominal Account

3.The Father of Scientific Management is – Frederick Winslow Taylor

4.__________ is / are empowered to levy and collect income tax – Central Government

5. According to provisions of the act the borrowings of the company do not exceed total paid up capital
and free reserves

6. RBI pays interest on CRR balances of banks at _____. Zero Percent

7. The Father of Modern Management theory is – Henry Fayol

8.AT Co makes a single product and is preparing its material usage budget for next year. Each unit of
product requires 2kg of material, and 5,000 units of product are to be produced next year.

Opening inventory of material is budgeted to be 800 kg and AT co budgets to increase material inventory at
the end of next year by 20%

The material usage budget for next year is 10,000 Kg.

9.Which of the following jobs check accounting in ledgers and financial statements? Audit

10.In which year Income Tax was levied in India for the first time? 1860

11.A profit center is a center? - Where the manager has the responsibility of generating and maximising

profits 


12.The minimum number of persons required to form a private company is 2

13.Income Tax Act was passed in the year 1961

14.The ratio between cash in hand and total assets maintained by the banks is called SLR

15.Branch account under stock and debtor’s system is a Nominal A/C

16.The Principle of Scientific Management were more concerned with the problems of Operating Levels

17.During a period 17, 500 labour hours were worked at a standard cost of Rs 6.50 per hour. The labour
efficiency variance was Rs 7,800 favourable. How many standard hours were produced? 18,700

18.CBDT is control by Central Government

19.Goods sent by the head office to the branch but not received by the branch before the close of financial
year are credited by head office to Branch A/C
20.We should keep our savings with banks because

21.Borrowings which are are beyond the powers of the company is Ultravires Borrowings

22.Communication among superiors is Horizontal

23.Responsibility Centre can be categorised into? Cost, Profit, Investment

24.When you have less amount of capital, which form do you prefer

25.Who is Tax payer? assesse

26.The process of accounting is needed to

I. Take a holiday

II. Assist in decision making

III. Invest in start-up of a business

IV. Track money spent

Ans- II,III and IV

27.In case of ultra-vires borrowings, lender has the following remedy/remedies Injunction,
Subrogation,Restitution.

28.ATM means Automated Teller Machine

29.When is a company said to have been registered? When it gets the certificate of incorporation


30.A person is said to be an ordinarily Resident when the person is satisfying Both basic and additional
conditions

31.When the decisions of the business are taken by a single person, it is Sole Proprietorship/Autocratic

32.Which of the following is not a reason for an idle time variance? Wage Rate Increase

33.Defaulter of loan means Failure to meet legal obligation of loan

34.When a branch purchases fixed assets and the asset account is to be kept in the books of head office, the

branch makes the following entry. debits head office credits bank 


35.When a group of lenders provides loan facility, then it is called as __________.Syndicated Loan

36.Which of the following describes the practical framework of bookkeeping? Classifying, Recording and
Summarising
37.Who is assessee in case of a HUF? KARTA

38.Cost Unit is defined as: (a) Unit of quantity of product, service or time in relation to which costs may

be ascertained or expressed 


39.Efficiency is

40.Which of the following is not an India based credit rating agency Countrywide

41.Education cess on tax payable is at? 2%

42.The debentures, which are payable to the registered debenture holders is Registered Debentures______.

43.During September, 300 labour hours were worked for a total cost of Rs 4800. The variable overhead
expenditure variance was Rs 600 (A). Overheads are assumed to be related to direct labour hours of active
working. Rs.14

44.Bank provides loans for

45.Effectiveness is

46.Depreciation on branch assets under debtor’s system is not shown separately in branch account 


47.Which of the following companies must file a statement in lieu of prospectus? A public company that
has not issued a prospectus .

48.Currency notes are issued by RBI

49.Which of the following principles assumes that a business will continue for a long time? Going Concern

50.The art of knowing what you want and see that they do it the best and cheapest way is Scientific
Management

51.Which of the following would explain an adverse variable production overhead efficiency variance?

1. Employees were of a lower skill level than specified in the standard

2. Unexpected idle time resulted from a series of machine breakdown

3. Poor Quality material was difficult to process 1&3

52.Agriculture Income comes u/s _2(1A)_________ of Income tax act.

53.Functional Foreman-ship follows the functions of

54.Stock reserve in relation to closing stock appears On the debit side of the branch account.
55.Coins are issued by RBI

56.A mortgage can be created on Specific Immovable Property

57.Section 10 0f Income Tax Act deals with Exempted Incomes

58.Fixed cost is a cost: Which do not change in total during a given period despise changes in output

59.The highest Administrative Authority for Income Tax in India is CBDT

60.The power of the company to borrow is exercised by its Directors/AOA.

61.Internet banking refers to

62.Goods are sent to the branch at 20% margin on selling price. When branch stock discloses a surplus
of Rs. 2,000, the amount to be credited to branch adjustment account (above the line) will be

63.Budgeted sales of X for March are 18000 units. At the end of the production process for X, 10% of
production units are scrapped as defective. Opening inventories of X for March are budgeted to be 15000
units and closing inventories will be 11,400 units. All inventories of finished goods must have successfully
passed the quality control check. The production budget for X for March, in units is: 16,000

64.One Superior and one subordinate is the case of

65.Which of the following users assesses the attractiveness of investing in a business? Financial Analyst.

66.PAN number is required for

67.The most important document of a company is its Memorandum

68.One company and one goal is the case of

69.Uncontrollable costs are the costs which be influenced by the action of a specified member of an
undertaking? Cannot Be

70.What are the exemption limit in Hostel Expenditure Allowance? 300 per month upto 2 children

71.The expenses which are not departmental

72.A chain of relationship that ensures effective communication is

73.CG Co manufactures a single product T. Budgeted production output of product T during June is 200
units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle
time. Labour is paid at a rate of Rs7 per hour. The direct labour cost budget for March is 10,500

74.TDS means Tax Deducted at SOurce

75.Registration of charges must be filed with the ROC within _____30____ days.

76.Rates of Income tax are fixed under finance act

77.Rent and rates are apportioned to different departments on the basis of

78.The share capital of a company may be reduced by a special resolution

79.The number allotted by income tax authorities to assesses for identification and which should be quoted
in all documents and correspondence is PAN

80.In Recurring Deposits

81.A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following
items would not be included in the cash budget? Depreciation on Machinery.

82.MBO is advocated by Peter. F. Drucker.

83.MBO is expanded as Management by Objectives.

84.Debenture holders are Creditors

85.Which type of deposits earns higher interest rate

86.Accountants use Generally Accepted Accounting Principles (GAAP) to make the financial information
communicated

I. Relevant

II. Reliable

III. Comparable

IV. Profitable

Relevant, Reliable and Comparable. (I,II and III)

87.BDL Ltd. is currently preparing its cash budget for the year to 31 March 2014. An extract from its sales
budget for the same year shows the following sales values.

Rs

March 60,000

April 70,000

May 55,000

June 65,000
40% of its sales are expected to be for cash. Of its credit sales, 70% are expected to pay in month after sale
and take a 2% discount. 27% are expected to pay in the second month after the sale, and the remaining 3%
are expected to be bad debts. The value of sales budget to be shown in the cash budget for May 2013 is
Rs.60,532

88.Due date of filing of return by a non business assessee is 31th JULY

89.Under the income- tax act, the incidence of taxation depends on Residential Status of the tax payer.

90.Debentures form part of the company's loan

91.Element/s of Cost of a product are Material, Labour and Expenses.

92.The turnover ratio is used for the allocation of

93.What is validity period of the cheque? 3 Months

94.MBE is expanded as Management by Exception

95.A/an Individual may become a director of a company.

96.Interest on Savings Bank Deposits is paid Quarterly

97.Residential status is determined for PREVIOUS YEAR

98.BPR is expanded as Business Process Re-engineering

99.The actual output of 162,500 units and actual fixed costs of Rs. 87000 were exactly as budgeted.
However, the actual expenditure of Rs 300,000 was Rs. 18,000 over budget. What was the budget variable
cost per unit? Rs. 1.20

100.Provision for unrealised profit with respect to stocks when transfers are affected at transfer price is to be
charged to General Profit and Loss A/c

101.How many heads of income are there to compute Gross total income. 5

102.SWOT analysis is useful for

103.One of the detailed rules used to record business transaction is Double entry book keeping

104.How many directors of a public company, unless the articles provide otherwise, must be appointed by
the company in general meeting? Two third.

105.What is RuPay Debit Card?

106.Abnormal cost is the cost: Cost not normally incurred at a given level of Output.

107.Loans from money lenders are

108.Department which provides assisting services to internal departments is classified as Support
Department

109.Analysis of internal environments help identifying our

110.The Board of Directors constitute the top administrative organ of the company.

111.Conversion cost includes cost of converting…raw materials…….into……product..

112.A citizen of India who goes abroad for the purpose of employment, he must stay in India at least for
...............182......... days to become a resident.

113.Department which directly adds value to product or service is known as Production and Operating
department.

114.CA Co manufactures a single product and has drawn up the following flexed budget for the year.

60% 70% 80%

Rs Rs Rs

Directmaterials 120,000 140,000 160,000

Directlabour 90,000 105,000 120,000

Productionoverheads 54,000 58,000 62,000

Otheroverheads 40,000 40,000 40,000

TotalCost 304,000 343,000 382,000

What would be the total cost in a budget that is prepared at the 77% level of activity? 3,70,300

115.Analysis of External Environments help exploring our

116.Persons responsible to maintain books is/ or MD,CFO and Whole time Director incharge of finance.

117.Who among the following may be “not ordinarily resident”? D. Hindu Undivided Family.


118.Who can open a bank account?

119.Copy of the financial statement is to be filed with registrar within 30 days of date of annual general
meeting.

120.Agricultural income in Pakistan is assessable for Resident

121.Analysis of Demographic Factors is a kind of

122.Which of the following highlights the correct order of the stages in the accounting cycle? Journal,
Ledger, Trial Balance and Final Accounts.

123.Account payee cheques can be paid

124. MGNREGS stands for Mahatma Gandhi National Rural Employment Guarantee Scheme

125. Reservation of Decision Making Authority Centralization

126.Maximum directors of a public ltd company are 15

127.Salary received by the manager of an agricultural farm is A Salary Income

128.Sunk costs are Irrelevant for decision making

129.Approaches to allocate costs of support department do not include Dual- Rate Cost-Allocation method
and single rate cost allocation method.

130.An ordinary partnership business can have

131.Distribution of Decision Making Authority is Decentralization.

132.What are the benefits attached to PMJDY?

133.Which of the following are statutory books?

134. When a receipt is determined as Capital Receipt or Revenue receipt.

135.Describe the method of costing to be applied in case of Nursing Home: Operating cost

136.What will be the impact on the cash reserves of commercial banks if RBI conducts a sale of securities
Decrease

137.The minimum numbers of directors of a private ltd company are 2.

138.The number of sub -ordinates is determined for control in

139.Which of the following companies has unlimited liability? Private firms- Sole Properitor and general
partnership

140.The following is not taxable as income under the head "Salaries". Remuneration received by a
partner

141.Describe the cost unit applicable to the Bicycle industry: Per Bicycle.

142.RBI provides Ways and Means Advances (WMA) to State govt or banks.
143.A ltd is a manufacturing company that has no production resource limitations for the foreseeable future.
The Managing Director has asked the company mangers to coordinate the preparation of their budgets for
the next financial year. In what order should the following budgets be prepared? 1,5,3,4,2

1. Sales budget

2. Cash budget

3. Production budget

4. Purchase budget

5. Finished goods inventory budget

144.A person can be a director of maximum of 20 companies.

145.Gratuity received by a government employee is Fully Excempted

146.Taking Corrective actions is the job of

147.A banking partnership business can have

148.RBI operates open market operation to regulate

149.Communication is the element of

150.In the absence of an agreement profit and loss are divided by partners in the ratio of Equally.

151.Capital expenditure on scientific research which cannot be absorbed on account of insufficiency of

profit in any accounting year can be carried forward for Indefinite.

152.Which of the following company must have at least one-woman director in their board? Listed

153.S produces and sells one product, P, for which the data are as follows:

Selling price Rs 28

Variable cost Rs 16

Fixed cost Rs 4.

The fixed costs are based on a budgeted production and sales level of 25,000 units for the next period. Due
to market changes both the selling price and the variable cost are expected to increase above the budgeted
level in the next period. If the selling price and variable cost per unit increase by 10% and 8% respectively,
by how much must
sales volume change, compared with the original budgeted level, in order to achieve the original
budgeted profit for the period?
154.DIN represents Director Identification Number.

155.The periodic payment of money for the past service is known as Pension

156.The Trading and Profit and Loss account is also called Income Statement

157.Which of the following is known as plastic money? Credit Cards

158.Hierarchy of needs is the basis of

159.In process costing, a joint product is a product which is produced simultaneously with other

products and is of similar value to at least one of the other products. 


160.Pension is taxable under Salary head.

161.Who is not Key managerial personnel in the company? Accountant.

162.Two - factor theory is advocated by Herzberg

163.When the rate of inflation increases, then Purchasing power of money Reduces

164.Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per
unit. Additional material at Rs 1.25 per unit was added in process. Labour and over heads were Rs 6.25
per completed unit and Rs 2.50 per unit incomplete.

If 11,750 completed units were transferred out,what was the closing inventory in Process B? Rs. 14,437.50

165. In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the
rate of 6%

166.

Calculate the prime cost from the following information:

Direct material purchased: Rs. 1,00,000

Direct material consumed: Rs. 90,000

Direct labour: Rs.60,000

Direct expenses: Rs. 20,000

Manufacturing overheads: Rs. 30,000 Ans- Rs. 1,70,000 


167. Additional director can be appointed by Board of Directors.

168.Salary received by a partner from the firm in which he is a partner is taxable under the head Profits and
gains of business or profession


169.Current accounts of the partners should be opened when the capitals are Fixed.

170.X and Y theory is founded by Douglous Mcgregor.

171.Largest shareholder (in percentage) of a Nationalised bank Govt of India.

172.Man is basically lazy is the assumption of Theory X

173.A promoter is a person who Takes Place in Companies Incorporation.

174.A process costing system for J Co used an input of 3,500Kg of materials at Rs20 per Kg and labour
hours of 2,750 at Rs25 per hour. Normal loss is 20% and losses can be sold at a scrap value of Rs5per Kg.
Output was 2,950 Kg. What is the value of the output? Rs 142,485 175.NEFT means National Electronic
Funds Transfer.

176.Which of the following is an example of fictitious assets?

177.Family pension received by the widow of a deceased employee is taxable under the head Income From
Other Sources

178.Working condition is the factor found in

179.Investment in partnership is made by introducing

180.Salary received by a Member of Parliament is taxable under the head Income from other sources.

181.In how many languages, the amount of a bank note is written on it? 17 out of 22

182.Total cost of a product: Rs. 10,000 , Profit: 25% on Selling Price

Profit is: 3333

183.When can a private company commence business? After Receiving Certificate of Incorporation

184.Interest on capital paid by the firm to its partners is allowed up to 12%

185.Who will provide DIN? Ministry of Corporate Affairs.

186.Double entry book-keeping was started by Luca Pacioli

187.In process costing, if an abnormal loss arises, the process account is generally

Credited with the full production cost of the abnormal loss unit

188.Do what I say is an example of

189.When a bank returns a cheque unpaid it is called? Dishonour of Cheque

190.A prospectus is to be issued within _______days of registration.

191.Under Income Tax Act depreciation is allowed on Written Down Value

192.Tell me your opinion is found in the leaders following

193.Partnership is formed by the partners through

194.Which of the following statements is/are correct?

1. A materials requisition note is used to record the issue of direct material to a specific job.

2. A typical job cost will contain actual costs for material, labour and production overheads, and non –
production overheads are often added as a percentage of total production cost

3. The job costing method can be applied in costing batches

1 & 3 only

195. Banking Ombudsman is appointed by RBI

196.Which financial statement is used to show what the firm owns? Balance Sheet.

197.A job is budgeted to require 3,300 productive hours after incurring 25% idle time. If the total labour
cost budgeted for the job is Rs 36,300. What is the labour cost per hour( to the nearest cent)? 8.25

198.Residential status of an assessee is ascertained as per the provisions of. Section-6

199.Everything that goes to increase the importance of sub-ordinates role is

200.All monies received with the application of shares are to be deposited_______.

201.What is the full form of SWIFT? Society for Worldwide Interbank Financial Telecommunication.

202.Underwriting means ____________.

203.What is the maximum period within which a customer can approach ombudsman?

204.The income tax rate on long term capital gains for an individual is 20%

205.A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to total
costs as a profit margin. Job number Y256 was sold for Rs1690 and incurred overheads of Rs 694. What
was the prime cost of the job? Rs. 606206.Any partner who investments in the business but does not take
active part in the business is

207.Authority and Responsibility are Complementary to each other.

208.The written agreement of partnership is called Partnership Deed

209.The place where bankers met and settle their claims and account is known as Clearing House.

210.Parental care is given in

211.Residential status of taxable entities is Can Change from year to year.

212.Calculate cost of sales from the following:

Net Works cost: Rs. 2,00,000

Office & Administration Overheads: Rs. 1,00,000

Opening stock of WIP: Rs. 10,000

Closing Stock of WIP: Rs. 20,000

Closing stock of finished goods: Rs. 30,000

There was no opening stock of finished goods.

Selling overheads: Rs. 10,000

Ans-2,80,000
213.The minimum subscription is to be received within 120 days of the offer.

214.As per the first basic condition to determine residential status, a person should have been in India during
the previous year concerned for 182 days or more

215.Which of the following is used for International Monetary Transfer?

216.According to accounting equation assets are equal to? Liabilities and Equity.

217.State which of the following are the characteristics of service costing.

1. High levels of indirect costs as a proportion of total costs

2. Use of composite cost units

3. Use of equivalent units

Ans- 1 and 2 only.

218.The private company requires conversion of a public company into a special resolution and union
governments approval

219.Human needs are unlimited according to Need Hierarchy Theory.

220.The accounting cycle represents a series of steps that a business uses

221. One of the items is not related with e-banking

222. Need for survival is Physiological

223. Calculate value of closing stock from the following:

Opening stock of finished goods (500 units) : Rs. 2,000

Cost of production (10000 units) : Rs. 50,000

Closing stock (1000 units):? 5000

224. A private company is to become a public company if its average turnover in the previous three years
exceeds 10 Crore

225. An individual who wants to be resident of India must satisfy at least One of the two basic conditions

226. The desire to become more and more than what one is

227. As per Second additional condition, a resident will be an ordinarily resident if stay in India for at least
730 days during the seven previous years preceding the relevant .

228.What is the maximum amount for which the Award can be given by Ombudsman

229. The cost concept states that all goods and services purchased should be recorded at historical and
market cost

230. Which of the following organisations should not be advised to use service costing A light engineering
Company.

231. The charter of a company refers to its MOA

232.1. What is OTP in credit card transaction?

233. A person is Non resident if he fails to fulfil At least one of the basic conditions

234. A Person ceases to be a company members when his shares are forfeited for nonpayment of call
monies

235. Grouping of activities is the case of

236. The matching principle attempts to find satisfactory bases of association between Expenses and
Revenes

237. Which of these is not a Material control technique: Maintaining Stores Ledger.

238.Salary paid by an Indian company to its employees working in one of its branches outside India is
Salary Accuring in India.

239. Calculate the most appropriate unit cost for a distribution division of a multinational company using
the following information.

Milestravelled 636,500

Tonnescarried 2,479

Numberof drivers 20

Hours workedbydrivers 35,520

Tonnesmilescarried 375,200

Costincurred 562,800

240. The Statement that shows the cause of change in the financial position of an organization is known as
Statement of Financial Position

241. Determining objectives is the foremost job of

242. AML stands for Adjustable Mortguage Loan/ Anti-Money Laundering

243.Which of the following are characteristics of a company ? It exists only in contemplation of law

244. Managing Personnel is

245. Banking ombudsman may reject the complaint

246. Out of the following, what is not the work of purchase department:

247.A company is a juristic person with a perpetual succession _____________.

248. The results of business activities are reflected in

249. Income accrued and received outside India is taxable in the hands of All assesses.


250.The process of issuing instructions is

251. Balance sheet is a statement which discloses an organization’s

252. On a share of Rs. 100 of a company, a shareholder has already paid Rs. 30.His Liability is now limited
to 70

253. The following information is available for the W hotel for the latest thirty day period.

Number of rooms available per night 40

Percentage occupancy achieved 65%

Room servicing cost incurred Rs. 3900

The room servicing cost per occupied room-night last period, to the nearest Rs, was: 5

254. Past un-taxed income brought to India is taxable in the hands of None of these

255. Expand NPA- Non Performing Assets.

256. The CII for the financial year 1981-82 is 100

257. Which one is not finance company?

258. The process of integrating people and work is

259. A private company becomes a public by process of law where not less than 25 percent of its paid-up
share capital is held by one or more bodies corporate.

260. Current liabilities need to be paid within a year

261. Bin Card is a Quantitative record of material received, issued and balance 


262. Revenue

263. The liability of a shareholder in a company limited by shares is limited to the unpaid value of shares
subscribed by him.

264. Shapeless organisation

265. A company makes a single product and incurs fixed costs of Rs. 30,000 per annum. Variable cost per
unit is Rs. 5 and each unit sells for Rs. 15. Annual sales demand is 7,000 units. The breakeven point 3000
units
266. Incomes on which Income tax is not charged are called Excempted Incomes

267. What is MSF- Marginal Standing Facility.

268. Exempted incomes are defined under section 10

269. A company manufactures a single product for which cost and selling price data are as follows: Selling
price per unit - Rs. 12

Variable cost per unit - Rs. 8

Fixed cost for a period - Rs. 98,000

Budgeted sales for a period - 30,000 units

The margin of safety, expressed as a percentage of budgeted sales,is: 20%

270. Grapevine is a kind of Informal Communication

271. Time gap between two annual general meeting should not exceed 15 months.

272. PPF means Public Provident Fund.

273. Financially, shareholders are rewarded by Dividends

274. Stores Ledger is a:

275.Allowances of MP/M.L.A / or M.L.C are Fully Excempted

276. The first AGM should be conducted within 18 months from the date of incorporation.

277. Which of the following are not current assets?

278. When a superior is overburdened he follows

279. PAN Means Permanent Account Number

280. Purchase of a car for a company is

281 21 days clear notice should be given to hold a AGM.

282 Information concerning A Ltd.'s single product is as follows:

Selling price - Rs. 6 per unit

Variable production cost - RS. 1.20 per unit

Variable selling cost - Rs. 0.40 per unit

Fixed production cost - Rs. 4 per unit

Fixed selling cost - Rs. 0.80 per unit.

Budgeted production and sales for the year are 10,000 units.

What is the company's breakeven point: 10,909

283. Who is the present Union Finance Minister of India? Arun Jaitley

284. In case of Tax free salary, Tax is to be paid by employer


285. Which of the following is a financial asset?

286. Aadhaar is

287. Re-order level is calculated as: Maximum consumption x Maximum re-order period

288. The cash flow statement consists of which of the following sections?

289. Allowances received by a government employee posted abroad are Fully Excempted.

290. Persons authorized to convene extra-ordinary general meeting is BOD, The Board on Requisition of
Members, Tribunal

291. Choosing the best from number of alternatives is called

292. Which of the following limits the power of credit creation by Commercial Bank

293. Dearness allowance is taxable in the hands of All the Employees

294. What are the contents of the notice of AGM? Place, Date and Hour, Statement of the business to be
transacted.

295. Predicting the future event is called

296. Information concerning A Ltd.'s single product is as follows:

Selling price - Rs. 6 per unit

Variable production cost - RS. 1.20 per unit

Variable selling cost - Rs. 0.40 per unit

Fixed production cost - Rs. 4 per unit

Fixed selling cost - Rs. 0.80 per unit.

Budgeted production and sales for the year are 10,000 units.

How many units must be sold if company wants to achieve a profit of Rs. 11,000 for the year? 13,409.

297. Under fixed capital methods, profit will be credited to

298. House rent allowance is Partly Taxable

299. The merger of _________and ________was the first M and A activity after liberalization

300. Economic order quantity is that quantity at which cost of holding and carrying inventory is Minimized

301. Partnership business in India is governed by partnership Act of 1932

302 Richard Cantillon applied the word entrepreneur to business for the first time.

303. The memorandum and Articles of a company are open to inspection by Everybody.

304. Motivation/Need for achievement is the drive to achieve a goal.

305. A letter of acceptance sufficiently stamped a duly addressed is put into course of transmission. There is
____________

306. ABC analysis is an inventory control technique in which:

307. Which of the following is not a long-term liability?

308. Exempted limit of HRA in metropolitan cities is 50% of Salary

309. The Cardinal Utility Approach was developed by Alfred Marshall

310. _______________ is the people who create the products and services that sellers offer to buyers

311. Information concerning A Ltd.'s single product is as follows:

Selling price - Rs. 6 per unit

Variable production cost - RS. 1.20 per unit

Variable selling cost - Rs. 0.40 per unit

Fixed production cost - Rs. 4 per unit

Fixed selling cost - Rs. 0.80 per unit.

Budgeted production and sales for the year are 10,000 units.

It is now expected that the variable production cost per unit and the selling price per unit will each increase
by 10%, and fixed production cost will rise by 25%. What will be the new break even point? 11,885

312. Technical Entrepreneurs are extremely task oriented.

313. Acceptance may be revoked by the acceptor before the communication of acceptance is complete.

314. Education allowance is exempted for a maximum of Two Children

315. The members of partnership firm are individually called as Partners

316. A company's break even point is 6,000 units per annum. The selling price is Rs. 90 per unit and the
variable cost is Rs. 40 per unit. What are the company's annual fixed costs? 3,00,000

317.An advertisement to sell a thing by auction is _____________.

318. _________________ are a connection point for transmitting data .

319.Children education allowance is exempted up to Rs.100 per month per child

320. Fabian entrepreneurs neither introduce new changes nor adopt new methods innovated by others

321. The object of partnership is to Earn Profit.

322. When does an accountant record a transaction?

323.The term intrapreneur was coined by Gifford Pinchot

324.Total Utility is maximum when marginal utility is Zero

325. On the face of the ticket for a journey the words for conditions see back are printed in a small print.
The passenger is bound by the conditions whether he takes care to read them or not

326.Which one out of the following is not an inventory valuation method?

327.Hostel expenditure allowance is exempted up to Rs. 300 Per child

328.According to Schumpeter, Is the most important function of a modern entrepreneur.

329.Liability of partners in a partnership business is

330.Capital gearing ratio is

331.Entertainment allowance to govt. employees is exempted, which is least of 20% of basic salary or actual
allowance or 5000

332.Consideration must move at the desire of _____________.

333. Online businesses attempt to reach individual consumers_____-

334.The slope of an Indifference curve shows--------------

335.An agreement not enforceable by law is said to _____________.

336.In case of rising prices (inflation), FIFO method will:

337.Social attitude is one of the important problems of a ---

338.Capital of the partners is maintained by

339.A Perk is a facility provided by employer to employee

340.Drawings of the partners are

341.The value of Interest free concessional loans to employees is determined on the basis of lending rates
of ..................... for the same purpose

342. _________ e-commerce model provides a way for consumers to sell to each other

343.After inviting tenders for supply of raw materials, two quotations are received as follows—

Supplier P Rs. 2.20 per unit, Supplier Q Rs. 2.10 per unit plus Rs. 2,000 fixed charges irrespective of the
units ordered. The order quantity for which the purchase price per unit will be the same—

344.A contract is a voluntary agreement by two or more parties, enforceable by law.

345.The Capacity to develop new ideas, concepts and processes is known as:

346.Which of the following equations represents the balance sheet?

347.Value of rent free accommodation in case of Govt. employee shall be taxable up to License fee fixed by
the Govt

348.A cost that does not affect a decision is called an Irrelevant Cost

349.In case of rising prices (inflation), LIFO will Provide lowest value of Closing stock and profit

350. Where consent is caused by fraud or misrepresentation, the contract is Voidable

351. Which one of the following risks is borne by the entrepreneur: All Risk
352. which of the following is a psychological factor affecting entrepreneurial growth: Need for
achievement
353. A partner has to pay interest on drawings. What is the entry in the personal A/c of the partner?
354. Which of the relationships raise presumption of undue influence Fiduciary Relationship.
355. Value of rent free accommodation a house owned by employer in case of non- Govt. employees with
above 25 lakhs population 15% of Salary

356. In case of joint products, the main objective of accounting of the cost is to apportion the joint costs
incurred up to the split off point. For cost apportionment one company has chosen Physical Quantity
Method. Three joint products ‘A’, ‘B’ and ‘C’ are produced in the same process. Up to the point of split off
the total production of A, B and C is 60,000 kg, out of which ‘A’ produces 30,000 kg and joint costs are Rs.
3,60,000. Joint costs allocated to product A is
357.EDI is the computer-to-computer exchange of Data/Information

358. A transport company is running five buses between two towns, which are 50 kms apart. Seating
capacity of each bus is 50 passengers. Actually passengers carried by each bus were 75% of seating
capacity. All buses ran on all days of the month. Each bus made one round trip per day. Passenger kms are:
359. When the promisee refuses to accept performance from the promisor who offers to perform, it is
360. Salary paid to partner should be
361. The entrepreneur who does not change the method of production already introduced us: Drone
Entrepreneurs
362. Interest on RPF balance is exempted up to 9.5%
363. Consumer Surplus is described as Difference Between what customers are Willing and able to pay
364. A fall in the price of a commodity leads to a fall in consumers real Income/ Shift in Demand
365. Calculate Re-order level from the following
Consumption per week: 100-200 units
Delivery period: 14-28 days Ans:800 units
366. Person who works within an organization and having entrepreneurial capabilities is Intrapreneur
367. Employers contribution to RPF is exempted up to Rs.1,50,000 or 12% of Salary.
368. Interest on capital Account
369. When a party to a contract transfers his contractual rights to another, it is known as Assignment.
370. Commuted value of pension is fully exempted in case of Government Employees
371. The cost per unit of a product manufactured in a factory amounts to Rs. 160 (75% variable) when the
production is 10,000 units. When production increases by 25%, the cost of production will be Rs. per unit.

372. If a contract contains an undertaking to perform impossibility, the contract is Void ab initio.
373. Digital signatures means certain types of Encryption to ensure Authentication
374. Which of the following describes a record of the transactions?
375. Who introduced the term intrapreneur: . Gifford Pinchot III

376. A micro enterprise is one in which the investment in plant and machinery does not exceed Rs. 25 Lakh
377. An agreement to do an act impossible in itself. Void
378. _____________________have increasing concerns about the security of their networks .
379. In ‘make or buy’ decision, it is profitable to buy from outside only when the supplier’s price is below
the firm’s own Variable Costs
380. At the time of admission of a new partner the firm is

381. Profits earned from an illegal business are Taxable

382. A small enterprise is one in which the investment in plant and machinery is more than Rs. ---- but does
not exceed Rs. 25 Lakh but does not exceed Rs. 5 Crore
383. A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is
known as Flexible Budget
384. Contribution made to an approved research association is eligible for deduction up to Weighted
Deduction up to 175/125%
385. Specific performance may be ordered by the court when Contract is breached.
386. The law which studies the direct relationship between price and supply of a commodity is Law of
Supply
387. The Four principal qualitative characteristics of useful financial statements are understandability,
relevance, reliability and comparability
388. A medium enterprise is one in which the investment in plant and machinery is more than Rs. 5 Crore
but does not exceed Rs. 10 Crore.
389. When the price of a substitute of commodity X falls, the demand for Y Rises
390. Current Ratio is also known as working capital ratio.
391. The measure of damages in case of breach of a contract is the difference between the Contract Price
and Market Price or Price and Value.
392. At the time of admission an incoming partner contributes as goodwill May or may not pay cash for
good will.
393. Medical reimbursement is exempt up to Rs.15,000 if treatment is done in a private hospital.

394. --- Units provide inputs to other industries.

395. Good will is valued as two years purchase of the average profits of three previous years are Rs. 15000,
the value of goodwill be Rs.30,000
396. Technical know-how acquired after 1.4.98 is eligible for depreciation at 25% Per Annum
397. Costs that change between alternatives are called Relevant Costs
398. The contract of indemnity is a Contingent Contract
399. Master Budget is a summary of all functional budgets in a capsule form.
400. Earnings are the result of the difference between Revenue and Expense
401. Free food provided to employees is exempted upto Rs.50 per meal.
402.Calculate EOQ (approx.) from the following details:
Annual Consumption: 24000 unit
Ordering cost: Rs. 10 per order
Purchase price: Rs. 100 per unit
Carrying cost: 5% Ans: 310

403. S and P go into a shop. S says to the shopkeeper, C let P have the goods, and if he does not pay you, I
will. This is a Contract of guarantee.
404. Provisional Registration helps the entrepreneur to take necessary steps to bring industrial units into
existence.
405. An e-business must protect itself against Unauthorized Access to computer network
406. A bailer is a _________
407.Cash Budget is a detailed budget of cash receipts and cash expenditure incorporating both revenue and
capital items
408. Value of good will agreed upon Rs. 30000 on C,S admission and allowing him ¼ share of total profit
Good will is brought in cash, the amount of good-will be as
409. Deduction for other expenses except interest in the computation of income from house property is
allowable to the extent of 30% of NAV
410. Cross elasticity demand between two perfect substitutes will be Very High
411. The MSME Development ACT came into force in 2006
412. Bad debts allowed earlier and recovered latter on is
413. Capital investment subsidy was introduced in the year 2007/1971
414. The position of a finder of lost goods is that of a Bailee.
415. Viruses are generally introduced into a computer system via Email or Unauthorized Access.
416. In which order does the journal list transactions? Chronological Order
417. Which of these is not an objective of Cost Accounting? Assisting Shareholders in Decision Making
418. Goodwill of the firm is valued Rs. 30,000. C an incoming partner purchase ¼ share of total profit Good
will be raised in the books
419. When price rises, the quantity supplied; Increases
420. In a sale, the property in goods, transferred from seller to buyer.
421. Under valuation of opening stock is opening stocks are not valued at cost price.
422. Statutory cost audit are applicable only to: Company
423. Incentive is the financial and promotional assistance provided by the Govt. to the industries for
boosting up industrial development in all regions particularly in backward areas.
424. In a sale, if the goods are destroyed, the loss falls on Seller.
425. An incoming partner pays his share of good will in cash, and profit sharing ration of old partner is
changed, Goodwill be distributed among old partners
426. For the financial year ended as on March 31, 2013 the figures extracted from the balance sheet
of Xerox Limited as under:
Opening Stock Rs. 29,000; Purchases Rs. 2,42,000; Sales Rs. 3,20,000; Gross Profit 25% of Sales. Stock
Turnover Ratio will be :-
427. If the income elasticity of demand is greater than 1, the commodity is Luxury or Superior Goods
428. An Industrial Estate is the place where the required facilities and factory accommodating are
provided by the government to the entrepreneurs to establish their industries there.
429. Under section 44AB the audit of accounts is compulsory if total sales exceed 1 Crore
430. The initial capital that is required to obtain loans from the financial institutions is called Seed Capital
431. In accounting consignment means Sending Goods to another Person, by owner for sale.
432. An e-business should put in place an effective risk management program such as Antivirus Protection
and firewall, Intruder Deduction.
433. Gifts from clients are Professional Income.
434. If credit sales for the year is Rs. 5,40,000 and Debtors at the end of year is Rs. 90,000 the Average
Collection Period will be
435. The term property as used in the Sale of Goods Act, 1930 means Ownership
436. In case of perfectly elastic supply the supply curve will be; Infinite
437. If a depreciable asset is acquired and used for less than 180 days in a financial year, depreciation
allowed on it is 50% of normal rate.
438. The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current
year of provision for taxation Rs. 50,000 and Rs. 65,000. If taxed paid during the current year amounted to
Rs. 70,000 then amount charge from Profit and Loss Account will be:
439. The doctrine of caveat-emptor applies In case of implied conditions and warranty.
440. Under the single roof of the DIC ( District Industries Centre) all the services and support required by
small and village entrepreneurs are provided.
441. At the time of admission of a new partner, general reserve is transferred to old partners capital a/c in
old ration.
442. A micro manufacturing enterprise is one in which the investment in plant and machinery doesnot
exceed 25 Lakhs
443. If a sale is by sample as well as by description, the implied condition is that the goods shall correspond
with both by sample and description.
444. The summarized balance sheet of Auto light Limited shows the balances of previous and current year
of retained earnings Rs. 25,000 and Rs. 35,000. If dividend paid during the current year amounted to Rs.
5,000 then profit earned during the year will be:
445. In the typical demand schedule, quantity demanded Varies Inversely with Price
446. To be a long term capital asset, a non financial asset should be held more than 36 Months
447. A new partner may be admitted to partnership with the consent of old partners.
448. In a sale, there is an implied condition on the part of the seller that he has right to sell it.
449. Goods sent on consignment should be debited by consignor to: Consignment A/c
450. The total number of items that the company carries within its product lines refers to the of the product
mix. Length
451. At the point where a straight line from the origin is tangent to the variable cost curve average cost is
equal to marginal cost
452. Following information is available of XYZ Limited for quarter ended June, 2013
Fixed cost Rs. 5,00,000
Variable cost Rs. 10 per unit
Selling price Rs. 15 per unit
Output level 1,50,000 units
What will be amount of profit earned during the quarter using the marginal costing technique?
453. Shares held for less than 12 months are Short term Capital Assets
454. An e-business should put in place an effective risk management program such as Antivirus
455. The P/v ratio of a company is 50% and margin of safety is 40%. If present sales is Rs. 30,00,000 then
Break Even Point in Rs. will be
456. House property held for less than 36 months is
457. A bonus or financial aid which is given by a govt. to an industry to help it compete with
other units in home market or in a foreign market is known as Bounties.
458. In the books of consignor the balance of the consignment stock account would be shown: As an asset
in the balance sheet.
459. A condition is a stipulation which is a stipulation essential to the Contract.
460. At the time of admission of a new partner, goodwill will
461. In case of breach of a warranty, the buyer can file a suit for damages only.

462. Following information is available of PQR for year ended March, 2013: 4,000 units in process,
3,800 units output, 10% of input is normal wastage, Rs. 2.50 per unit is scrap value and Rs. 46,000 incurred
towards total process cost then amount on account of abnormal gain to be transferred to Costing P&L will
be:-
463. The use of price points for reference to different levels of quality for a company's related products is
typical of which product-mix pricing strategy? Product Line Pricing
464. Indexation is applicable to Long term Capital Gains
465.When a percentage change in price results in equal change in quantity supplied, it is called; Unitary
Demand
466. Gives the buyer only a right to claim damages is known as Condition.
467. Costs which increase with an increase in output are called Variable Costs
468. What is the date on which Fair Market Value of capital assets acquired is determined?
469.Single window scheme is instituted through…………………………
470. In element-wise classification of overheads, which one of the following is not included —
471. In the revaluation account a decrease in the value of plant and machinery
472. Share allotment is a Process of Allotting Shares
473. FMV on 1.4.81 is applicable to assets.......................
474. Which of the following information forms available to the marketing manager can usually be accessed
more quickly and cheaply than other information sources? Internal databases
475. Where both the parties to an agreement are under a mistake as a matter of fact essential to the
agreement, the agreement is... Void
476. The basic step to develop the E-Commerce companies____________-
477 On the dispatch of goods, the entry in the books of consignee would be: No Entry
478. A demand schedule shows the relationship between the quantity demanded of a commodity over a
given period of time and -----------
479 Exemption u/s 54 is allowed when a residential house is sold and the investment is made in Residential
House Property

480. Calculate the value of closing stock from the following according to FIFO method:
1st January, 2014: Opening balance: 50 units @ Rs. 4
Receipts
5th January, 2014: 100 units @ Rs. 5
12th January, 2014: 200 units @ Rs. 4.50
Issues

2nd January, 2014: 30 units

18th January, 2014: 150 units Ans: Rs. 765

481. In the revaluation account an increase in the value of land and building
482. A person who is not a party to contract Third Party.
483. The advance given to cover the finance requirement during the time lag between the sanctioning and
disbursement of term loan by financial institutions is known as…………..
484. When the sales increase from Rs. 40,000 to Rs. 60,000 and profit increases by Rs. 5,000, the P/V
ratio is
485. The primary stakeholders are: Customers, Employees, Stockholders, Creditors, Suppliers
486. The partnership may come to an end due to the Death, Insolvency and by notice
487. If a company's objective were to reach masses of buyers that were geographically dispersed at a low
cost per exposure, the company would likely choose which of the following promotion forms? Advertising
488. The first thing to do before any web page is created, is to determine the ___________and ___________
489. Tax on short-term gain on sale of listed shares is................
490. Which one of the following is not an income from other sources?
491. Share Application A/c is a:
492. The consignor is:
493. The goal of corporate governance and business ethics education is to Create more ethics standards by
which corporate professionals must operate..
494. Tax on long term capital gain is.................
495. Techno crafts is assistance is provided by………………………..
496. The minimum share application money is: 5% of the Nominal Value of Shares
497. In case of retirement of a partner full goodwill is credited to the accounts of
498. Income from other sources is a residuary head of Income.
499. The corporate governance structure of a company reflects the individual companies’ : Cultural,
Economic, Legal, Business, Social, and regulatory System.
500. The intersection of a market demand curve and a market supply curve for a commodity determines the
equilibrium quantity for the commodity, the equilibrium price for the commodity, the point of neither
surplus nor shortage for the commodity.

501. All of the following are considered to be drawbacks of local marketing EXCEPT :
502. The term A/c and sale A/c are ________________ in nature.
503. Which one of the following is not an income from other sources? Profit on Sale of BUilding
504. Premium received on issue of shares A/c is shown on: Liabilities side of Balance Sheet
505. Using a successful brand name to introduce additional items in a given product category under the same
brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called an(n):
506. The internal audit function is least effective when the department:
507. When supply of a commodity decreases on a fall in its price, it is called;
508. Major Legal and Ethical Issues in E-Commerce_____________-
509. Under the _____________, both internal and external corporate governance mechanisms are intended
to induce managerial actions that maximize profit and shareholder value.
510. …………………… provides consultancy services to small and medium enterprises at reasonable cost
511. Dividends from co-operative society are Taxable/ Non Taxable
512. The premium on issue of shares can be used for: Write off Expenses or Commission paid or
Discount Allowed on an issue of share or debentures of the company
513. Revaluation account is operated to find out gain or loss at the time of Admission or Retirement or
Death of Partner
514. The rate of discount on shares cannot exceed: 10%
515. Rate of T.D.S for unlisted securities, including cesses is 10%
516. The Average Total Cost curve will be cut by the Marginal Cost curve from below as long as Marginal
costs eventually increase
517. Successful service companies focus their attention on both their customers and their employees. They
understand, which links service firm profits with employee and customer satisfaction service-profit chains
518. Partners equity is affected due to
519. One of the objectives of the Sarbanes-Oxley Act was to:
520. Is quoted as saying that "everyone lives by selling something
521. Which of the following gives the measures of price elasticity of demand?
522. Speculation Loss can be carried forward for 4Years
523. Increase the compliance burden for small companies...
524. Discount on issue of shares A/c is shown on: Asset side of B/S
525.Consignee A/c is the nature of:
526. Discount on issue of shares is a: Capital Loss
527. An independent director is one who:
528. The Head Office of KINFRA is located at Thiruvananthapuram
529. The accounting procedure at the retirement of partner is valued
530. “Any criminal activity that uses a computer either as an instrumentality, target or a means for
perpetuating further crimes comes within the ambit of cyber crime”
531. A partnership firm sold a residential house. The firm will get exemption under section 54F on capital
gains.
532. The supply of a good refers to:
533. Calculate the value of closing stock from the following according to LIFO method:
1st January, 2014: Opening balance: 50 units @ Rs. 4
Receipts:
5th January, 2014: 100 units @ Rs. 5
12th January, 2014: 200 units @ Rs. 4.50
Issues:
2nd January, 2014: 30 units
18th January, 2014: 150 units Ans Rs. 805
534. The chairperson of the board of directors and CEO should be leaders with:
535. Normal losses are due to: incurred in recurring basis
536. Cognitive dissonance occurs in which stage of the buyer decision process model?
537. Which of the following is eligible for 100% deduction ? National Sports Fund.
538. A board that is elected in a classified system is known as a: Staggered Board
539. Education cess for the A.Y is 3%
540. Anything that can be offered to a market for attention, acquisition, use, or consumption that might
satisfy a want or need is called an(n):
541. Interest on calls paid in advance has to be paid @:
542. If the remaining partner want to continue the business, after the retirement of a partner, a new
partnership agreement
543. The assumption we usually make about all firms is that they wish to
544. An account operated to ascertain the loss or gain at the death of a partner is called
545. What is meant by the phrase ‘teleolo!ical ethics’?
546. Donation is deductible u/s 80G
547. Interest @............. is charged on calls-in-arrears according to Table ‘A’ of the Companies Act:
548. Project refers to any investment opportunity which is to be exploited for profit
549. Cross elasticity of demand between two substitutes will be-------------
550. The shutdown condition for a firm is to
551. 1. That the company that overlooks new and better ways to do things will eventually lose customers
to another company that has found a better way of serving customer needs is a major tenet of:
552. What is meant by the phrase CSR? Corporate Social Responsibility
553. The main object of providing depreciation is: Create funds for replacement of fixed assets
554. When shares are forfeited, the share capital a/c is debited by:
555. Contribution to RPF is deducted u/s 80C
556. The type of sales presentation approach that requires good listening and problem- solving skills is the
Need-satisfaction approach
557. Calculate the value of closing stock from the following according to Weighted Average method:
Closing Stock- 743.75
1st January, 2014: Opening balance: 50 units @ Rs. 4
Receipts:
5th January, 2014: 100 units @ Rs. 5
12th January, 2014: 200 units @ Rs. 4.50
Issues:
2nd January, 2014: 30 units
18th January, 2014: 150 units Ans: Rs. 786
558. Depreciation arises because of: Physical wear and tear.
559. For Karl Marx where do our values come from? They are a product of the economic system
within which we live
560.Donation on PM’s National Relief Fund is deductible 100% out of the gross total income of the
assessee, under section 80G
561. Commodities which are perishable in nature have Perfectly Inelastic supply.
562. W h a t d o e s M i l t o n F r i e d m a n b e l i e v e t o b e t h e s o l e r e s p o n s i b i l i t y
o f business?
563 Amount due to outgoing partner is shown in the balance sheet as his
564. Project Identification the process of collection, compilation and analysis of economic data for the
purpose of finding out possible opportunities for investment.
565. Provision for income tax is shown in the bank accounts under the head:
566. If the firm has no competitors, the marginal revenue curve is Downward sloping
567. The maximum amount of deduction under section 80D in the case of a senior citizen is Rs.30,000-
50,000.
568. The rent fixed as per municipal valuation is called ............................
569. The production function represents;
570. W h a t , a c c o r d i n g t o A d a m S m i t h , i s t h e b e s t w a y t o p r o m o t e c o l l e c t i v e interest?
571. The loss or gain an account of revaluation at the time of retirement of a partner is shared by
572. The profit on re-issue of forfeited shares is transferred to:
573. Yahoo, Info seek, and Excite are all called Search Engines
574. Depreciation is a process of: of allocation,
575. The biggest or greatest amount of involvement in a foreign market comes through which of the
following? Direct investment
576. Any some received under key man insurance policy taken on the life of the employee shall be
577. From society's point of view the economic function of profits and losses is to Relocate Resources
578. The heading other assets does not include:
579. Income tax is a form of Direct tax
580. On the retirement of a partner any reserve should be transferred to the capital account of
581. Successfully depends on how well a company blends its people, organizational structure, decision and
reward systems, and company culture into a cohesive program that supports its strategies.
582. Cost of abnormal wastage is: Charged to the profit & loss account
583. It is the difference between total revenue and total economic cost Economic Profit
584. For Maximisation of profit in the short run, the condition is MC=MR
585. Under the straight line method of providing depreciation it:
586. If a share of Rs. 10, on which Rs. 8 has been called and Rs. 5 has been received is forfeited share
capital A/c, in this case, will be debited with:
587. A is a good offered either free or at low cost as an incentive to buy a product patronage reward
588. Section C applies on ...................
589. Wal-Mart owned Sam's club is an example of a retail form called an(n):
590.Diminishing marginal return occur when the total production function is;
591.Which of the following is not a capital asset?
592.Rights shares are those shares which are: issue of rights to a company's existing shareholders
593. Retirement or death of a partner
594. If all the partners, but one are insolvent it is
595. The process of evaluating the project ideas with a view to select the best and promising idea after
eliminating the unprofitable ideas is called Screening Of the project ideas.
596. A firm’s marginal revenue Additional Revenue
597. Demand drafts and Telegraphic transfers are shown in the Bank accounts under the head:
598. The difference between subscribed capital and called-up capital is called: Unsubscribed Capital
599. is the general term for a buying and selling process that is supported by electronic means Electronic
Commerce
600. Which of the following is considered production in economics
601. If all the partners, but one, is solvent it is Dissolution of a firm
602. Setting call objectives is done during which of the following stages of the selling process? Pre-
Approach
603. Under the fixed instalment method of providing depreciation it is calculated on:
604 The discrepancy between the values of marginal product and marginal revenue product of a factor of
production cannot arise if
605. Goodwill is: Intangible
606. The amount of depreciation charged on machinery will be debited to: Depreciation Account
607. Calculate re-order level from the following:
Safety stock: 1000 units
It takes 12 weeks to reach material from the date of
ordering Ans: 7000 units
608. Constant returns to scale refers to firm changes their inputs
609. Project formulation means process is a collection of interrelated actions and activities Study.
610. At the time of dissolution
611. When a company enters a new product category for which its current brand names are not appropriate,
it will likely follow which of the following brand strategies?
612. Goodwill is shown in company’s balance sheet under the head: Fixed Assets
613. The level of activity at which total revenues equal total costs is the Break Even Point
614. Loss on sale of plant and machinery should be written off against: Depreciation fund account
615. Perfect competition occurs in a market where there are many firms each selling an identical product.
616. Letter of Credit and Endorsement are shown in the Bank accounts under the head:
617. Pricing to cover variable costs and some fixed costs, as in the case of some automobile distributorships
that sell below total costs, is typical of which of the following pricing objectives?

618. When quantities of all factors of production are increased to study the output it is known as;
619. At the time of dissolution non – cash assets are credited with Book value
620. The value of goodwill according to the simple profit method is:
621. Input Analysis is primarily concerned with the identification, quantification andevaluation
of project resources
622. Joint venture account is
623. Online ads or Online advertisements are ads that appear while subscribers are surfing online services
or Web sites, including banners, pop-up windows, "tickers," and "roadblocks."
624. The break-even point is where TR=TC
625. Super profit is the difference between: average profits and normal profits.
626. Which one of the following does NOT occur in perfect competition?
627. If a partner takes over an asset of the firm, his capital account
628. Building acquired in satisfications of a claim and interest accrued but not due on investments are shown
in the Banks Balance sheet under the head:
629. In determining sales force size, when a company groups accounts into different size classes and then
determines the number of salespeople needed to call on them the desired number of times, it is called the:
630. In terms of special product life cycles, a is a basic and distinctive mode of expression style.
631. In which stage of production would a rational producer like to operate;
632. which of the following is true when a debtor pays his dues?
633. The average return of similar concerns should be considered as:
634. Which of the following are limitations of break-even analysis?
635. In General Insurance, the policy amount is payable:
636. Loss on realization is distributed among partners
637. ……………………………… technology refers to that technology which is suitable to
local, economic, social and cultural conditions.
638. Is products bought by individuals and organizations for further processing or for use in conducting a
business.
639. In perfect competition, a firm's marginal revenue equals its ______
640. Loss on realization is
641. From the point of view of valuation of goodwill, the term ‘capital employed’ means the funds provided
by:
642. For calculating price-earnings ratio, it is essential to know Price Per share and Earnings per share
643. Loss on machinery will be
644. There are various methods to reduce cost of production, except
645. Is a principle of enlightened marketing that requires that a company seek real product and marketing
improvements
646. The process of providing financial information to external decision makers is referred to as: Financial
Accounting
647. An isoquant represents
648. The average capital employed can be ascertained:
649. All of the following would be ways to segment within the category of psychographic
segmentation EXCEPT
650. When all partners are insolvent creditors will be will be paid after the expenses of realisation are
met
651. Under Net assets method, the value of a share depends on the amount that would be available to
652. The break even point is obtained at intersection of Total Revenue/ Sales and Total Cost
653. ………………………… is a network technique of scheduling and controlling the project where
activity times cannot be precisely estimated.
654. The law of variable proportion is first explained by;
655. Many U.S. firms have sought relief from foreign competition by demanding protectionism policies by
the U.S. government. A better way for companies to compete is to expand into foreign markets and:
656. Depreciation is charged on
657. In life insurance, the policy amount is payable
658. Financial statements generally include all but which of the following:
659. From the following information, calculate the extra cost of material by following EOQ:
Annual consumption: = 45000 units
Ordering cost per order: = Rs. 10
Carrying cost per unit per annum: = Rs. 10
Purchase price per unit = Rs. 50
Re-order quantity at present = 45000 units
There is discount of 10% per unit in case of purchase of 45000 units in bulk. Ans: Rs. 2,990

660. There is a person within a reference group who, because of special skills, knowledge, personality, or
other characteristics, exerts influence on others
661. Contribution per unit is equal to Contribution / No of Units

662. One difference between perfect competition and monopolistic competition is that ______
663. is the process of evaluating each market segment's attractiveness and selecting one or more segments to
enter.
664. Mines quarries oil fields and forest are example of Natural Resources/ Depletion Asset
665. A business had a capital of Rs. 80,000 at the end. It had earned profits of 10,000 during the year. The
average capital employed of the business will be:
666.The MRTS L,K
667.For calculating the value of equity share by intrinsic value method, it is essential to know:
668. The primary objective of the matching principle is to: Recognize expenses in the same period as the
related revenue.
669. The stage is the product life cycle that focuses on expanding market and creating product awareness
and trial is the: Introduction stage.
670. Which of the following is an abnormal cause of Idle time: Time lost between the finish of one job
and starting of next job
671.To achieve more market power, firms can
672. Describes changes in an individual's behaviour arising from experience Learning
673. The persons who have entered into a partnership business are individually called Partners
674. Depletion applies to Mines quarries oil fields and forest
675. Under which type of market structure is price rigidity (stickiness) often predicted? Oligopolistic
Market
676. It is a fact that there are 24 million left-handed people in the United States, however, most marketers do
not attempt to appeal to or design products for this group because there is little in the way of census data
about this group. Therefore, this group fails in one of the requirements for effective segmentation. Which of
the following is most likely to apply in this case? measurable
677. The bonus which is to be paid on maturity of the policy along with the policy amount it known as:
maturity benefit
678. Under Assets- Backing method, the values of equity share is calculated under the presumption that the
company would be valued on the basis of real internal value of the assets of the company
679. Which of the following is not an asset?
680. Which of the following promotional budget methods wrongly views sales as the cause of promotion
rather than as the result?
681. The rate at which one input can be exchanged for another input without altering the level of output is
called the; marginal rate of technical substitution.
682. The commission received from the re-insurer is called:
683. The fact that services are sold, produced, and consumed at the same time refers to which of the
following service characteristics? Inseparability
684. If no provision is made in agreement regarding the duration of the partnership
685. Which two of the following assumptions apply to 'kinked-demand' analysis in oligopoly markets?
686. If overtime is resorted to at the desire of the customer, then the overtime premium: should be charged
to the job directly
687. Process of becoming out of date or obsolete is termed as: Obsolescence
688. Concerns that the manufacturers of harmful products such as tobacco have influence on lawmakers to
the detriment of the public interest is used as evidence of which criticism of marketing Too much political
power
689. When isoquants are convex to the origin;
690. For calculating the value of an equity share by yield method, it is essential to know: Normal Profit
and Capital Employed
691. Factors are the most popular bases for segmenting customer groups Demographic.
692. Which of the following represents purchases?
693. Which of the following does not cause a shift in the demand curve?
694. If the field sales force has been supplied with new leads (via the telephone) that have been qualified,
they have probably been assisted by: Telemarketers.
695. Under the yield method, the value of equity share is calculated on the presumption that the company
would be a going concern
696. New product pricing strategy through which companies set lower prices to gain large market share is
classified as penetration pricing

697. A person who declares by word of mouth as partner of the firm is called Holding Out Partner
(Estoppels partner)

698. Accounting standard for Amalgamations is AS-14

699. The value of asset can be reduced to zero under this method Written down Value
700. A manufacturer has four sponsorship options. A is a brand created and owned by a reseller of a product
or service.
701 In general, a flatter demand curve is more likely to be Price elastic
702. The commission paid by the re-insurer is known as:
703. A person who receives a share of profits from one of the regular partner is called Sub-Partner
704. The Internet evolved from a network created by during the 1960s.
705. The region of upward sloping backward bending isoquants is; Uneconomic region of production
706. A series of related activities which result in some product or service is called Manufacturing or
Production
707. Which of the following is not sales?
708. Pricing strategy used to set prices of products that are must be used with main product is called captive
product pricing
709. Pooling of Interests method is used to account for Amalgamations in the Nature of Merger
710. Purchase consideration, as per AS-14, should include cash and securities agreed to be given by the
transferee company to transferor company’s shareholders
711. Which of the term is used to write off in reference to tangible fixed assets?
712. Is setting the price steps between various products in a product line based on cost differences between
the products, customer evaluations of different features, and competitors' prices.
713. If the price of a good is below the equilibrium price, quantity supplied is greater than quantity
demanded
714. Pricing strategy in which prices are set lower to actual price to trigger short term sales is classified as
promotional pricing
715. The agreement among partners which set out the terms on which they had agreed to form a partnership
is called Partnership Deed
716. When Michael Jordan and Tiger Woods use marketing to promote their careers and improve their
impact and incomes, they are using: Person marketing
717. A Valuation of Balance sheet is prepared by:
718. Rolls Royce uses which of the following distribution formats? Exclusive distribution
719. In the Cobb-Douglas production function the elasticity of substitution between factors is:
720. Labour turnover means employee retention
721. Which of the following is correct?
722. Expenses of Liquidation of Transferor company may be shown as ‘Reimbursement’ in Transferor
company’s book, if the expenses are agreed to be paid by
723. In terms of execution styles, a family seated at the dinner table enjoying the advertised product would
be an example of which of the following types of advertising? Slice of life
724. An inferior good is one for which an increase in income causes an increase in Demand
725. Every partner has a right to be consulted in all matters affecting the business of
726. Excess purchase consideration paid to the transferor company and debited to goodwill account under
the purchase method of accounting for Amalgamation should be written off within a period of 5 Years
727. 3M runs a Pollution Prevention Pays program that has led to a substantial reduction in pollution and
costs. This would be an example of responding to which of the following? The "green movement"
728. Pricing strategy in which company divides location into different sectors and charge the same price for
each sector is classified as Zone pricing
729. The main purpose of preparing a bank reconciliation statement is? to detect any discrepancies
730. In general, a steeper supply curve is more likely to be Price Inelastic
731. Is it true that trial balance total should always agree?
732. Which of the following is not an avoidable cause of labour turnover Disability, making a worker
unfit for work
733. When an international seller sells a plant, equipment, or technology to another country and agrees to
take payment in the resulting products, it is called: Buy-back.

734. In Life insurance, the profit of the business is ascertained:

735. Network represents the activities and events of a project in a logical sequence
736. For the firm interest on drawing is a Gain
737. Kind of reduction made to those buyers who buy large volumes of products is classified as quantity
discount
738. If consumers think that there are very few substitutes for a good, then Demand would tend to be price
inelastic
739. Drop shippers perform which of the following functions? Assumes title and ships coal, lumber, or
heavy equipment to a buyer
740. Net profit is calculated in the Profit and Loss Account
741. A contributory is a
742. A company must price its product to cover its costs and earn a reasonable profit in the Long Run
743. A credit balance on a partner’s current A/c is
744. A child in the United States is normally exposed to all of the following values EXCEPT : Collectivism
745.Costs associated with the labour turnover can be categorised into: Preventive Costs and Replacement
costs
746. List ‘A’ in statement of affairs gives the list of Assets
747. The element of job to be completed in a specific time is known as……………………….
748. Bank reconciliation statement is?
749.If demand is linear (a straight line), then price elasticity of demand is elastic in the upper portion and
inelastic in the lower portion.
750. A set of interdependent organizations involved in the process of making a product or
service available for use or consumption by the consumer or business user is calleda(n): Distribution
channel
751. Upon the sale of an established business its good will
752. The percentage of profit of life business to be distributed to policy holders is:
753. Companies that sell products whose prices are set by market forces are called price takers.
754. Companies that sell products whose prices are set by market forces are called price takers.
755. List ‘E’ in statement of affairs gives the list of Unsecured Creditors
756. Beliefs and values are open to some degree of change
757. Which of these best describes a Balance sheet?
758. Calculate workers left and discharged from the following:
Labour turnover rates are 20%, 10% and 6% respectively under Flux method, Replacement methodand Sep
aration method. No. of workers replaced during the quarter is 80 Ans: 48
759. Baumol’s sales maximisation theory explains that the sales maximisation output will be ____________
to the profit maximization output.
760. Has contractual authority to sell a manufacturer's entire output Selling agents.
761. Uncollected cheques are also known as? dishonoured cheques.
762. The Baumol’s sales maximisation theory assumes that to be able to pursue an independent price
policy
763. Old profit sharing ratio minus new profit sharing ratio is equal to
764. …………………….represents the start and end of an activity.
765. Secured creditors are shown in the statement of affairs under
766. Which of the following is not a book of prime entry?
767. A general insurance company carrying on two or more type of business prepares:
768. Pricing strategy in which a marketer sets a relatively high price for a product or service at first then
lowers the price over time Skimming Pricing
769. According to Engel's law, as income rises the income elasticity of demand of food is between 0 and
1
770. Preferential creditors are shown in the statement of affairs under List C
771. Suppliers personal accounts are found in Purchases Ledger
772. Node represents single data structure.
773.Penetrating pricing strategy is based on the assumption that Faster Growth
774. Calculate workers recruited and joined from the following
Labour turnover rates are 20%, 10% and 6% respectively
under Flux method, Replacement methodand Separation method. No. of
workers replaced during the quarter is 80. Ans: 48
775. A is drawing Rs. 500 regularly on the 16th of every month, he will have to pay interest in a year on Rs.
6,000 for the total period of @ given rate of interest) 6 months
776. Sellers that handle their own exports are engaged in direct exporting
777. Posting the transactions in book-keeping means:
778. The proceeds of assets not specifically pledged and the surplus of the assets specifically pledged is first
available for
779. The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate: Unfair and
deceptive acts or practices
780. Reserve for unexpired risks appearing outside the trial balance under adjustment is:
781. For any decrease in the value of liability, revalution A/c is to be
782. Path is the unbroken chain of activities from start event to end event in the network diagram.
783. Favorable balance means? Balance of Payments
784. More and more salespeople are being evaluated and compensated based on different measures than in
the past. All of the following are illustrations of those measures EXCEPT : competitive predatory pricing
performance.
785. Any sum due to an employee out of provident fund is an example of
786. Revalution A/c is a
787. Reinsurance premium paid is shown
788. In evaluating messages for advertising, telling how the product is better than the competing brands aims
at making the ad: distinctive
789. Critical path is the longest sequence of activities iin the network
790. The Liquidator’s final statement of A/c is prepared
791. Discounts received are
792. When an importing country sets limits on the amount of goods it will accept in certain product
categories it is called a(n): Non- Tariff Barriers/ Quota.

793. Calculate the labour turnover rate according to replacement method from the following: No. of
workers on the payroll:
- At the beginning of the month: 500
- At the end of the month: 600
During the month, 5 workers left, 20 workers were discharged and 75 workers were recruited. Of
these,10 workers were recruited in the vacancies of those leaving and while the rest were engaged for an
expansion scheme. Ans: 1.8181.
794. When good will is brought in cash by new partner, such a method is known as Premium Method
795. Bills were discounted to the extent of Rs. 10,000 of which bills of Rs. 4,000 are likely to be
dishonoured. Hence, the liability to rank in respect of these bills will be
796. According to the price/quality strategy matrix, when a company overprices its product in relation to its
quality it is considered to be using which type of strategy? Overcharging strategy
797. An alternative name for Sales Journal is Sales Day Book
798. . Includes practices such as overstating the product's features or performance, luring the customer to the
store for a bargain that is out of stock, or running rigged contests. Deceptive promotion
799. Expenses of management (not applicable to any particular business) are:
800. Section 37 of partnership act provided interest on the amount left by retiring or deceased partner at
801. When the sale proceeds of pledged security is not sufficient to pay off secured creditors fully, the
balance due to them should be added to
802. Which of the following is not one of the four basis financial statements?
803. Activities lying on the critical path are known as……………………..activities.
804. Is the practice of adopting policies and developing strategies that both sustain the environment and
produce profits for the company Environmental sustainability
805. A Pass Book is a copy of:
806. Calculate the labour turnover rate according to Separation method from the following: No. of
workers on the payroll: Ans: 4.5454
- At the beginning of the month: 500
- At the end of the month: 600
During the month, 5 workers left, 20 workers were discharged and 75 workers were recruited. Of these,
10 workers were recruited in the vacancies of those leaving and while the rest were engaged for an
expansion scheme.
807. Legal fees in respect of claims is:
808. When a partner dies, the firm will receive
809. The orange juice manufacturers know that orange juice is most often consumed in the mornings.
However, they would like to change this and make the drink acceptable during other time periods during the
day. Which form of segmentation would they need to work with and establish strategy reflective of their
desires? Occasion segmentation
810. A worker is allowed 60 hours to complete the job on a guaranteed wage of Rs. 10 per hour. Under
the Rowan Plan, hegets an hourly wage of Rs. 12 per hour. For the same saving in time, how much he
will get under the Halsey Plan?
811. Consistency and feedback relate most closely to which two of the following accounting concepts,
respectively?
812. Push strategy.is a promotion strategy that calls for using the sales force and trade promotion to move
the product through channels.
813. When the liquidated company has adequate cash to pay off all liabilities, the interest on liabilities
should be paid
814. Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________
(prepared by business)
815 Immediate Predecessor are activities that must be completed immediately prior to the start of another
activity - TRUE
816. At the time of dissolution all the assets of firm are transferred to the realization A/c at
817. Every banking company is required to close its accounts on 31st March
818. The typical method of retail operation used by supermarkets and catalog showrooms is
called: Self-service retailing.

819. Catastrophe Corp. has determined it is not a going concern, and will likely go bankrupt. Which basis of
accounting will Catastrophe adopt? Liquidation basis

820. Consumer goods with unique characteristics or brand identification often requiring a special purchase
effort are called: Specialty Products
821. Income tax on interest, dividend and rent should be:
822. An computerized collections of information obtained from data sources within the company Internal
databases
823. Balance of realization A/c is transferred to the capital A/c of the partners in
824. Overhead refers to: on going expense of operating a business
825. The percentage of profit to be transferred to statements reserve by the banking company is
826. Unfavorable balance means? BOP Deficit
827. Even though buying roles in the family change constantly, the has traditionally been the main
purchasing agent for the family. Wife
828. Accounting cycle includes: identifying, collecting and analyzing documents and transactions,
recording the transactions in journals, posting the journalized amounts to accounts in the general and
subsidiary ledgers, preparing an unadjusted trial balance
829. Activities that cannot be started until one or more of other activities are completed but immediately
follow are called Successor
830.Allotment of whole item of cost to a cost centre or cost unit is known as: Cost Allocation
831. A(n) is a retail store that carries a narrow product line with a deep assortment within that
line. Specialty store
832. Leasehold Ground rents are shown in:
833. When cheque is not paid by the bank, it is called?
834. The decision i Garner Vs Murray was given in
835. The purpose of strategic planning is to find ways in which the company can best: Use its strengths to
take advantage of attractive opportunities in the environment.
836. An asset which does not generate income to the banker is termed as NPA Non Performing Asset
837. Which of the following is not a method of cost absorption
838. Which of the following would not affect bank reconciliation?
839. Maximum possible time to complete an activity is ………………………
840. Which of the following is NOT one of the five stages of the buyer decision process?
841. A bank reconciliation statement is prepared by?
842. Rebate on bills discounted is
843. Estimated time required in normal conditions complete an activity is ………………
844. Which one of the following is not missing of cash book?
845. A holding company is one which holds more than:
846. Motive is a need that is sufficiently pressing to direct the person to seek satisfaction.
847. Under Hire Purchase System depreciation is charged
848. Service departments costs should be allocated to:
849. Bank Reconciliation is not a?
850. If a firm were to bid to do a "turnkey" operation where they would choose a building site, designing a
cement factory to build the plant, hire construction crews, assemble materials and equipment to run the new
factory, and turn over the finished factory ready to operate to the owners, the firm would be using which of
the following? Systems selling
851. A Non-banking asset is
852. …………shows the changes in assets, liabilities and net worth between two balance
sheet dates.
853. Most suitable basis for apportioning insurance of machine would be: Value of Machines
854. Which of the following statements are true:
855. According to the text, the most dramatic of the environments that affect marketing and appears to be
now shaping our world is the environment. Technological
856. Owned Subsidiary company in which more than 50% of shares are held by another company is
termed as:
857. Hirer charges depreciation on
858. The balance on the debit side of the bank column of cash book indicates? Bank Overdraft
859. Blanket overhead rate is: One single overhead absorption rate for the whole factory
860. The "in" suppliers are most likely to get nervous and feel pressure to put their best foot forward in
which of the following types of buying situations? Modified re-buy
861 When goods are purchased for the joint venture, the amount is debited to:
862. Profits earned by a Subsidiary company upto the date of acquisition of shares by the holding company
are called: Capital Profits
863. ……….shows movement of cash into and out of the firm and its net effect on balance sheet.
864. When bank statement shows a debit balance, it means? Bank Overdraft
865. Profits made by a subsidiary company after the date of purchase of shares by the holding company are
known as: profits of a revenue nature
866. Which of the following is not a technique of financial analysis:

867. joint bank account is opened:

868. Mathematical relationship between two figures taken from financial statements is called Ratios
869. The term ‘Minority Interest’ represents: have a little say in a company's decision-making
870. All of the following are ways that marketing plays a key role in the company's strategic planning
EXCEPT : Marketing is the only discipline that can provide a formal structure for the planning
effort.
871. The excess price paid by a holding company to acquire ‘controlling interest’ in the subsidiary company
is transferred to:
872. Hire Purchase Act was introduced in 1972
873. The checque which is deposited into bank but not cleared at the end of a particular year is called?
874. To excess of the share in equity or net assets of the subsidiary over and above the price paid for the
investment is shown as:
875. …………………… is an equilibrium point
876. What is transferred to Hirer under hire purchase system?
877. ……………………… is described as bread earning point.
878. Unrealised profit included in stock is:
879. Any loss or profit on revaluation of assets and outside liabilities is:
880. …………………..ratio establishes relationship between contribution margin and total sales
881. Expenses which cannot be identified with a particular department are called____
882. Bonus shares issued out of post-acquisition profits will increases the number of shares held by the
holding company without changing the cost of investment.
883. Garner Vs Murray’ relates to The loss on account of insolvency of a partner is a CAPITAL loss
which should be borne by the solvent partners in the ratio of their capitals standing in the balance
sheet on the date of dissolution of the firm.
884. Contribution margin ratio is better known as contribution ratio or CM Ratio
885. When the entire issue is underwritten by only one person, his liability will be equal to: to the number
of shares or debentures underwritten minus shares or debentures applied for.
886. Which one of the following is not a discounted cash flow technique:
887. Credit balance as per pass book is?
888. The difference between the total present value of a stream of cash flows of a given rate of discount and
the initial capital outlay is known as the :
889. A refrigerator is priced at Rs.10,000. A deposit of 16% on simple interest of 11% per year over 2 year
and repayments paid monthly then amount of deposit made is
890. Marked Applications refers to those application which is received by company and a mark will
show on each application which identify a specific underwriter's sale.
891. The scientific technique of evaluation of capital expenditure decisions include the following except:
892. In cash book bank charges recorded?
893. Unmarked Applications refers to: there is no any sign which shows the identity of any specific
underwriter who has sold it.
894. Profitability index shows benefits from the proposal in :
895. The difference between hire purchase price and the cash price is called
Cash price: It is a value of goods at which the goods may be purchased by the hirer for cash.
Hire Purchase Price: The hire purchase price includes the cash price and interest to be paid on the
future installment.
896. The underwriter is entitled to claim remuneration on:
897. For discounted cash flow methods, the discount rate used is:
898. If the whole of the issue of shares or Debentures is underwritten it is known as:
899. Independent Branch means when separate accounts are maintained either simple system or impress
system.
900. Which of the following item of cost is not a part of inventory
901. If a part of the issue of shares or debentures is underwritten, it is termed as: Partial Underwriting
902. The process of measuring the progress and performance of a project is called: Project Management
903. The excess of the present value over the cost of the project is Net Present Value
904. In case of Hire-Purchase the total sum payable by the hire-purchaser as per terms in order to complete
the transactions is
905. When an underwriter agrees to buy a definite number of shares in addition to unsubscribed shares, it is
termed as: Firm Undertaking
906. In case of mutually exclusive projects, the project with Net Present Value (NPV) and PI is to be
selected.
907. Salvage refers to the scrap value
908. According to section 76 of the companies Act 1956, the commission payable to underwriter for
underwriting shares should not exceed: 5%
909. Claim to be lodged with insurance company is the excess of
910. Commission for underwriting shares as per the guidelines issued by the Stock exchange division of the
Dept. of Economic Affairs, Ministry of finance (F14/1/SE/85-7-5-85) and also as per SEBI guidelines
should not exceed: 2.5%
911. Capital account is a
912. The Underwriting commission in the case of debentures as per companies Act 1956 should not exceed:
913. As per SEBI guidelines, Commission payable to underwriters for underwriting preferences shares or
Debentures UptoRs. 5 lakhs, should not exceed:
914. Goods recovered in good condition at the time of fire accident is called Salvaged Goods
915. The Underwriting Commission incase of Preference shares/ Debentures beyond Rs. 5lakhs as per SEBI
guidelines, should not exceed:
916. The average clause in a loss of profit protects the
917. Kavitha Ltd.issued shares of Rs. 1,000 each at Rs. 950. The underwriting Commission will be paid on:
918. All Direct expenses are recorded in the trading account
919. Fire insurance policy is taken up to indemnify
920. In the Balance sheet of a limited company, assets are arranged in the order of: Permenant
921. Fire insurance provides cover for the cost of replacement, reconstruction or repair beyond what is
covered by the property insurance policy
922. Dividends are usually paid on: Paid up capital
923. The premium paid on the life policy of the proprietor is debited to
924. Goodwill is shown in assets side of the company’s Balance sheet under the heading of: Permanant
925. Advance payment of tax is in the nature of: Revenue expense
926. A fire insurance policy usually includes a _________ to discourage the under insurance of stock or any
asset
927. In the liabilities side of the Company’s Balance sheet, calls in arrears is shown: By subtracting the
amount from the called up capital.

928. Small payments are entered in Petty Cash Book

929 In the assets side of company’s balance sheet, Fictitious assets like discount on issue of debentures are
shown under the heading: Miscellaneous Expenses
930. Preliminary expenses are an example of: Deferred Revenue Expenditure