| Post Name | Assistant Manager - Kerala Financial Corporation |
|---|---|
| Question Paper Code | 068/2024 |
| Category Code | 091/2023 |
| Date of Test | 12 June 2024 |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
A promise is
Answer
C. An accepted offer
2
An approach of tender to supply specific period it becomes
Answer
C. A standing offer
3
A void agreement
Answer
B. is unenforceable by law
4
The presentment for acceptance is required in case of a
Answer
A. Bill of Exchange
5
Hundi when paid up and cancelled is then called
Answer
C. Khoka
6
Preference shares are entitled to vote on every resolution placed before the company
at any meeting if the dividend due on such shares are in arrears for a period of
__________or more.
Answer
C. 2 years
7
Under the PF Act, 1952 “Insurance Fund” means
Answer
B. deposit linked Insurance Fund
8
Shareholders Section 162 is not applicable to
Answer
D. Both
9
Payment of Gratuity Act, 1972 is applicable to every shop or establishment within the
meaning of any law for the time being in force in relation to shops and establishment
in a State, in which ________ persons are or were employed on any day in the
preceding 12 months.
Answer
A. 10 or more
10
On what grounds an employee will be disqualified from getting bonus ?
i. Fraud
ii. Riotous or violent behaviour while on the premises
iii. Theft, misappropriation or sabotage of any property of the establishment
Answer
D. All of the above
11
The document which provides information regarding the progress of each job at each
operation is known as
Answer
Question Cancelled
12
Work certified at the end of the accounting year is valued at
Answer
Question Cancelled
13
The differences between fixed and variable cost has a special significances in the
preparation of
Answer
A. Flexible Budget
14
The stage when joint products are separated from each other is known as
Answer
C. Split off point
15
mine “A” and “B” are at a distance of 10 kilometers and 15 kilometers from the factory.
The cost per tonne-kilometer in the case of A is Rs. 3, while it is Rs. 2.5 in the case
of mine B. The factory should procure coal from
Answer
A. mine A only
16
When profit volume ratio is 40%, sales value Rs. 10,000, the variable cost will be
Answer
B. Rs. 6,000
17
Opportunity cost helps in
Answer
C. making managerial decision
18
Time and motion study is conducted by
Answer
D. Work Study and Engineering department
19
In the case of Weighted average price method, the need for calculating a new issue
price arises every time when
Answer
A. A new purchase is made
20
Absorption means
Answer
B. Charging overhead to cost units
21
The ‘Bird-in-the-hand argument’ was given by
Answer
C. Gordon model
22
The risk-free rate of return of Alpha Traders is 6% and its market risk premium
rate is 10%. If the company has an equity Beta of 75%, what will be the cost of the
company’s equity as per CAPM ?
Answer
Question Cancelled
23
Which among the following statements are true as per Net Operating Income approach
to capital structure decisions ?
Answer
B. Overall cost of capital (ko) and cost of debt (ki) are constant and cost of equity (ke)
will increase by use of more debt capital
24
BCG Ltd. expects annual sales of 4000 units and the firm buy the product at
Rs. 20 per unit. The ordering cost per order is Rs. 40 and the carrying cost as a
percentage of inventory value has been estimated at 10%. What is the Economic ordering
quantity ?
Answer
D. 400 units
25
Read the following statements regarding working capital and select the right answer
from the given alternatives.
Statement – I : With the increase in length of the production cycle, the need for
working capital increases.
Statement – II : The term ‘Financing mix of working capital’ involves the proportion
of long-term or short-term sources of finance to invest in current assets.
Answer
C. Both statements are true
26
Which of the following statements are true ?
Statement – I : PB method determines the number of years required to recover initial
investment.
Statement – II : The interpolation technique is used to calculate IRR.
Statement – III : NPV method is used to evaluate varying-sized projects.
Statement – IV : PI method is used to evaluate mutually exclusive projects.
Answer
B. Only statements I and II are true
27
According to Walter model, share value will be maximum at 100% dividend payout
ratio, if
Answer
B. Rate of return is less than cost of capital (r < k)
28
Which among the following is not a ‘short cost’ in cash management decisions ?
Answer
D. Opportunity cost
29
Which of the following is not a part of credit terms during receivables management
decisions ?
Answer
B. Collection policy
30
Which of the following are the assumptions of MM approach to dividend decision ?
i. There is perfect capital market
ii. Investors are rational
iii. There is no floatation cost
iv. There is no corporate tax
Answer
D. All statements are true
31
A Resident Individual is planning to file his Income Tax Return for the financial year
2023 – 2024 on 10-07-2024. Which of the following is correct ?
Answer
B. Previous year is 2023 – 2024 and Assessment year is 2024 – 2025
32
A resident individual having a salary income of ` 10,00,000 and income from other
sources of ` 50,000. Eligible standard deduction is ` 50,000 and deductions under
Sec. 80 C is ` 1,50,000.
Which of the following statements are correct, based on the above data ?
i. Gross Total Income is ` 10,00,000
ii. Gross Total Income is ` 10,50,000
iii. Total Income is ` 8,50,000
iv. Total Income is ` 10,50,000
Answer
A. Statements i and iii are correct
33
Which of the following is not an exempted income ?
Answer
D. Bonus received by employees
34
Which of the following statement is incorrect with regard to the deductions under the
old regime of Income Tax ?
i. maximum amount allowed as deduction of interest on housing loan for an
individual assessee is ` 2,00,000.
ii. maximum amount allowed as deduction under Sec. 80 C is ` 1,50,000.
iii. Voluntary contribution to NPS up to ` 1,00,000 are deductible under
Sec. 80 CCd1(
Answer
C. Statement iii is incorrect
35
Which of the following statements are true with respect to the direct tax in India ?
i. The levy and collection of direct tax is entrusted to the CBdT.
ii. The rate and slabs of income tax will be fixed and amended as per the
Finance Act.
iii. Progressive system of taxation is followed for the Income Tax.
iv. Income Tax Act was passed in the year 1971.
Answer
D. Statements i, ii and iii are true
36
Which of the following is the correct response with respect to the Residential status
of an individual as a Resident in India ?
Answer
B. Resides in India for a minimum of 60 days in the relevant previous year and
resided in India not less than 365 days in the immediately preceding four years
37
Which of the following is wrong with regard to the Income Tax Return 1 (Shahaj) ?
Answer
A. ITR 1 is applicable for persons having business income
38
Which of the following statements are true with regard to the deductions under
Chapter VI-A ?
i. deductions under Sec. 80 E deals with the interest on Education loan.
ii. Health Insurance premium up to ` 25,000 is allowed under Sec. 80 d.
iii. Sec. 80 G provides for the deduction of donation paid in cash up to
` 2,00,000.
Answer
C. Statements i and ii are true
39
Identify the wrong statement from the following.
Answer
Question Cancelled
40
Which of the following is incorrect with respect to the Long Term Capital Gain ?
Answer
D. Unlisted shares requires a holding period of more than 12 months for
considering it as long term capital assets
41
Which Article of the Indian Constitution gives power to levy and make laws related
to the Goods and Service Tax ?
Answer
B. Article 246 A
42
Which of the following statements are true with regard to the GST ?
i. GST is a destination based consumption tax.
ii. Producing States will be more benefited by way of increased revenue.
iii. In India, we follow the dual GST model.
iv. Under the dual GST model, both the Central and State governments levy tax
simultaneously.
Answer
C. Statements i, iii and iv are true
43
Identify the incorrect statement from the following.
i. IGST collected is fully entitled to the central government.
ii. CGST collected is fully available to the central government.
iii. IGST is levied on inter-state supply.
iv. CGST and SGST are levied on intra-state supply.
Answer
A. Statement i is incorrect
44
Which of the following statement is false ?
Answer
D. Essential goods of regular consumption such as unpacked food grains, salt,
fresh milk, etc. are taxed at 5% of GST
45
Which of the following is not a condition for claiming ITC ?
Answer
B. must have paid the invoice amount to the supplier within 240 days
46
Which of the following is not applicable to the composition scheme under GST ?
Answer
Question Cancelled
47
Identify the correct statements from the following.
i. GSTR 1 is used for declaring the outward supply.
ii. GSTR 2A/2B is an auto-populated statement indicating the inward supply and
ITC.
iii. GSTR 3B is a summary return used to settle tax liability and make payment of
tax.
iv. GSTR 9 is quarterly return filed by taxpayers.
Answer
A. Statements i, ii and iii are correct
48
Identify the correct statements from the following.
i. Time of supply is relevant for determining the due date of tax payment.
ii. Place of supply is relevant for determining the type of GST payable (IGST or
CGST and SGST).
iii. Value of supply is crucial for determining the amount of GST.
iv. Nature and type of supply is crucial for the determination of applicable tax
rates.
Answer
D. Statements i, ii, iii and iv are correct
49
Which of the following statements are true ?
i. GST Council advices the Government on the GST rates and thresholds.
ii. HSN Codes are used to classify Service and fix tax rates.
iii. E-Way bills are required for the movement of goods worth ` 50,000 or more.
iv. Every registered taxpayer will be granted a GSTIN.
Answer
B. Statements i, iii and iv are true
50
Which of the following is a false statement ?
Answer
D. Registered E-Commerce Operators are required to collect TdS
51
Identify the difference between Auditing and Accounting.
a. Accounting is done with inductive reasoning and Auditing is done with
deductive reasoning.
b. Accounting work is done continuously throughout the year whereas auditing is
normally done at the end of the year or periodically.
Answer
B. Only statement b is true
52
Which of the following statement/s is/are true relating to statutory audit ?
a. Statutory audit is an external audit.
b. Statutory audit may be a partial audit.
Answer
A. Only statement a is true
53
__________ is a continuous and systematic review of the accounting, financial and
other operations of a concern by the staff specially appointed for the purpose.
Answer
C. Internal audit
54
Identify the difference between Government Audit and Commercial Audit.
a. Government Audit is optional whereas Commercial Audit is compulsory.
b. There is a preliminary audit in case of Commercial Audit whereas no such audit
in Government Audit.
Answer
D. Neither statement a nor statement b is true
55
__________ is an audit carried out after the preparation of financial statement.
Answer
D. All of the above
56
_________ is a type of partial audit which is undertaken for only cash receipts and
cash payment.
Answer
A. Cash Audit
57
Auditing Assurance Standards
Answer
A. AS) 5 deals with
58
__________ means the examination of the selected items in depth or in detail from
the origin of the transactions to fair conclusions.
Answer
C. Auditing in depth
59
Which of the following can become a Voucher ?
Answer
D. All of the above
60
Identify the true statement/s.
a. Comply with Auditing standards is the duty of the Auditor.
b. To get technical and legal advice is also the duty of the Auditor.
Answer
A. Only statement a is true
61
Which of the following transactions will increase the Bank balance in a Cash Book ?
Transaction
Answer
D. None of the above
62
Pick out the most accurate statement from the following.
Answer
B. Bank balance may have either debit or credit balance
63
Sales ledger is maintained for
a. Writing sales account.
b. Preparing return outward account.
Answer
D. none of the above
64
Identify the hierarchy of items in Balance Sheet in the order of liquidity.
1. Debtors
2. Bill receivable
3. Prepaid expenses
4. Stock
Answer
D. None of these
65
Identify the true impact in relating to ‘Adjusted Purchase’.
Impact
Answer
B. Closing stock appears in Balance Sheet and in Trial Balance.
66
Which of the following items will create at 100% level accuracy ?
Answer
Question Cancelled
67
Inferred Goodwill means
Answer
B. Hidden Goodwill
68
If the Goodwill is raised in the books of the firm and later written off during admission,
the net goodwill credited to old partners capital account is equal to
Answer
A. Sacrificing ratio
69
distinguish between revaluation account and realization account.
Answer
C. Both
70
Sacrificing ratio and old ratio will be equal when
Answer
A. New partner will get a share of total profit
71
Identify odd one/which of the following is not correct with regard to principles of
business ethics ?
Answer
D. driven from the lower levels
72
The word ‘ethics’ has originated from
Answer
D. All of these
73
Consumer rights in India not include
Answer
B. Security
74
Arguments for social responsibility includes
Answer
A. Changing social values
75
Principles of Corporate Governance includes
a. Internal control
b. Rights of shareholders
c. Compensation
d. Protection of interest of stakeholders
Choose most appropriate answer from the given below.
Answer
C. b and d only
76
Which of the following is not correct with regard to consumer exploitation ?
Answer
B. Promoting consumer awareness
77
Economic ill effects of advertising includes
Answer
D. All of these
78
Key areas of CSR cannot be identified through
Answer
C. Corruptions
79
Which of the following are correct with regard to arguments against social
responsibility ?
a. High cost
b. Welfare state
c. Against profit maximisation principle
d. Long run benefits
e. Difficult to measure
Choose the correct answers from the options given below.
Answer
D. a, c and e only
80
Corporate Governance theories does not includes
Answer
B. Need-hierarchy theory
81
Oral communication takes place through
Answer
B. voice-mail
82
Barriers of listening includes
Answer
D. All of these
83
___________ is the official record of business transacted, discussions held and
decisions taken.
Answer
C. minutes
84
Choose odd one with regard to starting a speech.
Answer
C. Building up a climax
85
most desirable type of listening is
Answer
C. Active listening
86
______________ is a proposition or proposal put before a meeting for discussion
and decisions.
Answer
D. motion
87
Stages of group development does not include
Answer
D. Commanding
88
Given below are two statements, one is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A) : Essential for effective communication be clear about your target
audience.
reason (r) : The intended message can not bring about the desired result unless
it reaches the right person or group of persons.
In the light of the above statements, choose the correct answer from the options
given below.
A) Both
Answer
B. are true, but
89
match list – I with list – II (Personality Traits).
List – I (Primary Traits) List – II
Answer
A. a – iii, b – v, c – iv, d – i, e – ii
90
match list – I with list – II.
List – I (Theory) List – II (Inventor)
a. Contingency model i. Blake and mouton
b. Path-goal leadership theory ii. Robert House
c. Trait theory iii. Fred E. Fiedler
d. managerial grid iv. Kelly
Choose correct answer from the options given below.
Answer
A. a – iii, b – ii, c – iv, d – i
91
Enterprise Resource Planning supports ____________ currency value.
Answer
A. multiple
92
Which among the following is at the heart of any ERP system ?
Answer
D. database
93
Statement – 1 : An ERP system centralises an organization’s data.
Statement – 2 : The processes ERP system enforces are the processes the
organization adopts.
Answer
C. Both statements are correct
94
Assertion
Answer
B. systems optimize the flow of
goods and services from suppliers to customers.
reason
95
___________ is an approach both historically preceded and inspired BPm.
Answer
B. Total Quality management
96
Which among the following is not a critical enabler for a high-performance business
process; without them, a process will be unable to operate on a sustained basis ?
Answer
D. Process Hour
97
Which among the following statements is/are incorrect about SCM ?
i. A supply chain is a network of supplier, manufacturing, assembly, distribution
and logistics facilities.
ii. SCm is utilized to facilitate the coordination with outside business entities, or in
the scope of extended enterprise.
iii. The cost of participation in a public business to business exchange SCm is
significantly higher than implementing our own SCM system.
iv. Suppliers, manufacturers and distributors are generally involved in a supply
chain.
Answer
C. Only iii
98
Which is the correct order of processes in implementation phase of Business Process
Automation ?
i. Blue printing
ii. Realisation
iii. Project preparation
iv. Go live and support
v. Final preparation
Answer
C. iii, i, ii, v, iv
99
___________ allows for the creation of a consolidated view of the customer from
multiple customer data stores.
Answer
B. Customer data Integration
100
Among the following which is not a key aspect of Core Banking System ?
i. Information flow
ii. Customer centric
iii. Regulatory compliance
iv. Resource optimization
v. Relationship management
Answer
B. Only v
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