| Post Name | ASSISTANT - KERALA FINANCIAL CORPORATION |
|---|---|
| Question Paper Code | 049/2019 |
| Category Code | 004/2019 |
| Date of Test | 19 October 2019 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Revenue received from the sale of goods Is treated as an earnings during the period in which
Answer
A. the sale is made
2
Which Accounting Standard deals with revenue recognition?
Answer
B. IAS 18
3
Which Accounting Convention states that accounting practices should remain . unchanged from time to time?
Answer
D. Consistency
4
Repairs incurred before using a second-hand van purchased recently isa a
Answer
A. Capital Expenditure
5
State the minimum percentage of profit that has to be transferred to General Reserve : by a Joint Stock Company if the dividend declared is 18%
Answer
C. 7.5%
6
Income Tex paid by a Sole Proprietor on his business income should be
Answer
D. Deducted from Capital Account in the Balance Sheet
7
The cancellation of shares at the initiative of the shareholder is termed as :
Answer
C. Surrender
8
The profit on depreciation policy is transferred to
Answer
A. Depreciation Reserve Account
9
Donations received by Non-profit-making Organizations for a special purpose will be taken to the
Answer
C. Liabitity side of the Balance Sheet
10
Under Single Entry System, the amount of opening stock can be ascertained by preparing a/an
Answer
A. Memorandum Trading Account
11
O11. If the rate of gross profit is 20% on cost of goods sold and the sales is Rs. 1,
Answer
B. Rs. 16.667
12
On seizure of goods by the hire vendor in a Hire Purchase deal, the balance in the asset account is transferred to
Answer
B. Goods Repossessed Account
13
Amount collected by a company as Security Premium should be used to
Answer
D. All of the above
14
A predetermined cost of an activity, operation or process established as a basis for control and reporting is known as
Answer
C. Standard cost
15
Dividend declared by Board of Directors in between two Annual General Body meeting is known as
Answer
D. Interim dividend
16
If vendors are issued fully paid shares of Rs. 1,00,
Answer
B. Goodwill Account
17
The balance in the Share Forfelted Account after the reissue of forfeited shares is transferred to
Answer
C. Capital Reserve
18
A right of one person to satisfy a claim against another by holding or retaining the ; possession of others property is termed as
Answer
C. Lien .
19
The balance of the Debenture Sinking Fund account after redemption of Debentures | is transferred to
Answer
D. General Reserve
20
The shares issucd as part of capitalisation of reserves
Answer
A. Bonus share
21
Loss sufferred from the date of acquisition of business to the date of incorporation should be debited to
Answer
A. Goodwill Account
22
Reduction of Share Capital requires the permission of
Answer
C. Court
23
O23. Preliminary expenses are transferred by the vendor company at the time of absorption to
Answer
B. Equity shareholders account
24
Policy maturing only on the death of the insured is termed as . :
Answer
B. Whole life policy
25
Reversionary bonus is the bonus payable by the insurance company
Answer
A. On maturity of the policy
26
. 026. Rebate on bills discounted for a banking company is
Answer
C. aliability
27
Provision for doubtful debts in case of standard asset Is to be made at
Answer
D. 0.4%
28
A reserve created by a banking company as per Section 17 of the Banking Regulation Act, 1949 .
Answer
B. Statutory Reserve
29
As per IRDA regulations, an Insurance company is required to prepare
Answer
D. All of the above
30
7 030. On replacement of an asset, any amount realised on account of sale of old materials ! is credited to
Answer
Question Cancelled
31
An irrecoverable cost which is caused by complete abandonment of a plant
Answer
C. Sunk cost
32
Per unit fixed cost
Answer
B. Decreases with increase in output . '
33
Which method of costing Is used in a refinery?
Answer
C. Process costing
34
Quantity of material to be ordered at one time is known as
Answer
B. Economic order quantity .
35
FIFO method of valuing material issues Is suitable in times of
Answer
A. Falling prices
36
Which method of valuing material issue is suitable for materials purchased for a particular work or job?
Answer
C. Specific price method
37
Wages sheet Is prepared by the ’
Answer
B. Payroll Department
38
Labour turnover is calculated by
Answer
Question Cancelled
39
Which of the following methods of wage payment is most suitable where the speed of production is beyond the control of worker?
Answer
Question Cancelled
40
Under Merrick's multiple piece rate system, 110% of ordinary piece rate is given to workers whose level of performance is between
Answer
B. 83% - 100% of standard output
41
What is the basis of apportionment of créche expenses?
Answer
C. No. of female employees
42
Expenses which are not actually incurred, but is included for taking managerial decisions are calied
Answer
D. Notional expenses
43
The costing method in which each job is treated as a cost unit to which all costs are | assigned Is
Answer
B. Job costing
44
ww 044. Where actual loss in a process is less than the anticipated loss, the difference between | the two is considered to be
Answer
C. Abnormal gain
45
The most important criterion for distinguishing between scrap, byproduct and joint products is
Answer
B. Relative sales value
46
To obtain break-even point in rupee sales value, total fixed cost is divided by
Answer
D. Profit / Volume ratio . i
47
The break-even point is the point at which
Answer
D. All of the above
48
Margin of safety is referred to as !
Answer
A. Excess of actual sales over fixed expenses
49
Make or buy decision is made by comparing purchase price outside with
Answer
B. Varlable cost
50
An unfavourable material price variance occurs because of
Answer
B. price decrease in raw materials :
51
Who introduced the concept of "Management by Objectives"?
Answer
A. Elton Mayo
52
O53. if a company has separate Production Managers, Marketing Manager and Finance Manager, what basis of departmentation is followed by that company?
Answer
B. Territory
53
O54. The very specific guide to action is called
Answer
C. Policy
54
O55. Which is the oldest form of organization?
Answer
B. Line and Staff organization
55
O56. The first women authority in management is
Answer
A. Mary Parker Follett
56
Selecting one from several alternatives is called | f
Answer
B. Decision-making
57
O58. Esprit de corps means
Answer
B. Service is our motto
58
O59. Responsibility is .
Answer
C. Getting things done
59
. O60. A person who has entrepreneur skills but works within an organization or venture that seeks dynamism
Answer
D. None of the above
60
Name the form of business in which the members are having limited liability.
Answer
B. Joint stock company
61
Motivation available at the time of performance of work:
Answer
B. Intrinsic motivation
62
Delegation creates
Answer
B. Existing work
63
A plan relating to a period of time expressed in numerical terms Is a ,
Answer
C. Programme
64
Administration deals with
Answer
A. Implementation of policy
65
O66. The number of persons reporting directly to a superior person Is called
Answer
B. Co-ordinating ,
66
When was the Indian Partnership Act enacted?
Answer
C. 1942
67
O68. “In order to market a product, just make the product avaitable in the market in plenty” | — Which concept of marketing Is expressed through this statement?
Answer
A. Selling concept _
68
The specific group of customers, who have a particular interest in your product
Answer
C. Marketing mix .
69
Dividing the customers of a product based.on their attitude towards the product, ° its usage rate and status is termed as
Answer
A. Geographical segmentation
70
O71. A paid, non-personal communication designed to create an awereness of a product or company
Answer
B. Labelling t
71
The practice of adding tasks that increase both responsibility and opportunity for growth in a job: .
Answer
C. Job Rotation
72
Collecting feedback from all directions — from supervisors, reporting subordinates, ; co-workers and even customers is termed as '
Answer
A. Upward feedback
73
The return received on investing in the shares of a company is
Answer
B. Dividend
74
The set of exclusive rights granted by a government to an investor or his assignee for a limited period of time in exchange for a public disclosure of innovation
Answer
B. Copyright
75
ZZ 076. When was the Consumer Protection Act enacted?
Answer
C. 1978
76
What is the full form of BPO?
Answer
B. Business Problems and Opportunities !
77
The buying and selling of products and services over electronic system such as internet ; and other computer networks are known as
Answer
D. BD) echatting
78
{ O80. A market where all kinds of financial instruments are bought and sold:
Answer
A. Credit market
79
Which among the following is the one and onty major fresh water lake in Kerala? r
Answer
C. Ashtamudi lake .s
80
Which is the largest western flowing river in india?
Answer
B. Sabarmati
81
What is the name of Sri Lanka's first satellite?
Answer
A. Colombo 1
82
Who among the following holds the record of longest serving member of Kerala | Legislative Assembly?
Answer
C. Oommen Chandy _
83
Which country suggested the name Fani to the cyclone which hit the State of Odisha in May 20197
Answer
B. Bangladesh
84
Chattampl Swamikal was born at .
Answer
A. Chempazhanthy
85
Who among the following authored Mokshapradeepam?
Answer
B. B) Vaikunta Swami
86
O88. Where did 'Breast-Cloth Agitation' take place in Kerala?
Answer
C. North Travancore
87
Who led the Severna Jatha in support of Vaikom Satyagrahe? .
Answer
D. T.K. Madhavan
88
1 090. In which language Vakkom Abdul Khader Moulavi published the monthly Al Isiam7
Answer
D. Persian
89
O82. Last week | Medea -cssssssssueeanuna... MY prlority.
Answer
C. studying
90
a O93. NO SOONEF ...........-.ecsesseecessresseee | Closed my eyes than | fell asieep.
Answer
B. when
91
O94, ...nerersscrsescssesessererreones IS ONG WHO Makes charitable donations intended to increase human well-being.
Answer
A. Pacifist
92
OBS. | ....cesssssesssresrsccesecerereee MM from Bengaluru a month beck.
Answer
C. had met
93
O96. Cow’ is to ‘buffalo! ag oo... ccscsssscscsscsesseseeee 18 CO ‘donkey’.
Answer
A. Jenny
94
The English idiom ‘break a leg’ means:
Answer
D. to make a situation worse
95
O98. ! prefer Coffee 20... ececsscsseee OD,
Answer
B. with
96
Which is NOT @ compound word?
Answer
A. real estate
97
I | : 097. The English Idiom 'break a leg’ means:
Answer
C. good luck
98
O98. | prefer coffee _..o... eee, COD.
Answer
D. to
99
i 099. Which is NOT a compound word? :
Answer
D. examination ‘ :
100
"Necessity is the -ss0ee OF INVEeNtion"
Answer
C. mother
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