| Post Name | Deputy Manager (Finance Accounts and Secretarial) - Travancore Sugars and Chemicals Ltd |
|---|---|
| Question Paper Code | 012/2024/OL |
| Category Code | 407/2022 |
| Date of Test | 30 January 2024 |
| Exam Type | Online Examination |
| Total Questions | 100 |
1
Given below are two statements : Statement I : Premium payable on the redemption of preference shares must be paid out of the proļ¬t only. Statement II : Amount of capital redemption reserve may be applied by the company to issue fully paid-up bonus shares to the members
Answer
D. Statement I is false and Statement II is True
2
Which among the following are correct with regard to the remedies available for secured debenture holders in case of default in payment of principal amount or interest I. To ļ¬le a suit for the sale of property charged II. To ļ¬le a suit for foreclosure III. To make an appointment of receiver
Answer
A. I, II and III
3
On the cessation of oļ¬ce of ļ¬rst auditor of the company, the subsequent auditor shall be appointed by
Answer
C. CAG
4
Based on the following statements choose the most appropriate answer : Statement I : The companies prescribed by the central government shall have atleast one women director. Statement II : Every listed company shall have at least half of the total number of directors as independent directors.
Answer
B. Statement I is correct and statement II is incorrect
5
Quorum required for a public company meeting where the number of members as on the date of meeting is between 1000 and 5000
Answer
C. 15
6
Who is authorized to give direction regarding change of name of an existing company in case the name resembles an existing company
Answer
D. None of the above
7
Form of Memorandum of Association for unlimited company having share capital
Answer
D. Table E
8
Which among the following is the most appropriate answer regarding disqualiļ¬cations to be appointed as managing director of a company I. A person who has attained the age of 70 II. A person who is an undischarged insolvent III. A person who has made a composition with his creditors
Answer
A. All of the above
9
For a company which employed a managing director or whole-time director, maximum limit of remuneration for ordinary director is
Answer
A. 1% of net proļ¬t
10
Auditor of a government company is appointed by
Answer
C. Comptroller and Auditor General
11
Which among the following are considered as valid forms of prospectus I : Red-Herring prospectus II : Shelf prospectus III : Any notice or circulars inviting oļ¬ers from public
Answer
D. I, II and III
12
Which among the following statements regarding share warrants are correct. Statement I : It can be issued only when shares are fully paid. Statement II : It can not be transferred by mere delivery.
Answer
A. I only
13
With regard to the following statements about book keeping, choose the most appropriate answer. Statement I : Job of a book keeper is basically analytical in nature. Statement II : Book keeper does not check and supervise the work of accountant.
Answer
B. Statement I is false and Statement II is true
14
Which among the following is not a modifying principle of accounting
Answer
B. Objectivity principle
15
With regard to the ascertainment of adjusted closing capital in single entry system, which among the following option is correct
Answer
C. Drawings added and additional capital deducted from closing capital
16
Which among the following statements are true about ledger Statement I : Ledger is prepared on the basis of source documents. Statement II : Ledger serves the basis for the preparation of ļ¬nal accounts.
Answer
A. Statement I is False and Statement II is True
17
Freight and insurance on a new machinery is a
Answer
C. Capital expenditure
18
Among the following choose the correct statements : I. The power to forfeit shares must be expressly given in memorandum of associated of company II. Board must pass a resolution for forfeiture of shares. III. Proļ¬t prior to incorporation can be used to create capital reserve
Answer
C. II and III only
19
Following statements relates to debenture issue. Choose the most appropriate answer. Statement I : Debentures can be issued for consideration other than cash. Statement II : Debentures can be issued as collateral security.
Answer
D. Both statements are true
20
Loss on issue of debenture can be written oļ¬ from
Answer
C. Capital proļ¬t or revenue proļ¬t
21
A company may purchase its own shares out of
Answer
D. All the above means
22
Choose the most appropriate answer with regard to the parties authorized to inspect books of accounts of a company
Answer
C. Both registrar and oļ¬cers authorized by SEBI
23
Business risk can be measured by
Answer
C. Operating Leverage
24
Marginal Cost of capital is the cost of
Answer
B. Additional Fund
25
The excess of current assets over current liabilities is called
Answer
C. Net working capital
26
IRR of a project is that rate where NPV tends to
Answer
A. Zero
27
A company's share with a face value of Rs. 10 each are quoted at Rs. 50 in the stock market. Current rate of dividend is 50% and this is expected to grow at a steady rate of 5% p.a. Calculate the cost of equity capital of the company
Answer
B. 15%
28
Financial statements of two or ļ¬rms can be made for drawing inferences is termed as
Answer
C. Interļ¬rm comparison
29
CAPM stands for
Answer
A. Capital asset pricing model
30
Which of the following helps to analysing return to equity shareholders?
Answer
B. Earnings per share
31
Dividend irrelevance argument of MM model is based on
Answer
C. Arbitrage
32
A number of checks and controls exercised in a business to ensure its eļ¬cient working is known as
Answer
A. Internal Check
33
A company auditor can be removed by
Answer
B. General Meeting
34
Before the work of audit is commenced, the auditor plans out all the audit work is known as
Answer
B. Audit program
35
The process of checking the evidence of the entries is called
Answer
D. Vouching
36
Undervaluation of stock is
Answer
C. Error of principal
37
Which of the following statement is correct?
Answer
A. Valuation is a part of veriļ¬cation
38
Qualiļ¬ed Report means
Answer
C. Auditor express an opinion with reservation of material nature but not pervasive
39
Rights and Duties of an auditor are covered under _______ of the Companies Act 2013.
Answer
B. Section 143
40
Select the correct option about the recommendation of task force of mechanism for Whistle Blowing i. Employees can report concerns about unethical behavior, actual/suspected fraud or violation of code of conduct or ethics policy. ii. Safeguarding the employees who avail of the mechanism against victimization iii. Does not allow employees, direct access to the Chairperson of audit committee
Answer
B. Only i and ii are correct
41
Select the correct option regarding the legal provisions contained in Indian Companies Act, 2013 about Corporate Governance i. Holding of a minimum of 2 meetings of the board each year. ii. Mandatory appointment of one woman director on the board of listed companies iii. Mandatory appointment of committees likes CSR committee, audit committee and so on
Answer
B. Only ii and iii are correct
42
Amendment to Clause 49 of the listing agreement by SEBI, explains about
Answer
D. All of the above
43
Select the correct option about the objectives of a regulation framework regarding merger and acquisition (M&A): i. curbing malpractices in the M&A transactions ii. protection of shareholders rights and interests iii. adequate compensation for shareholders in open oļ¬ers
Answer
A. All i, ii, iii are correct
44
Select the correct option about the Blue Ribbon Committee Recommendation on eļ¬ectiveness of Corporate Audit Committee : i. concentrates more on the independence of audit committee ii. instituting audit committee disclosures iii. mandating auditor interim ļ¬nancial review
Answer
D. All i, ii, iii are correct
45
Indian corporate governance focuses on
Answer
D. All of these
46
Select the correct option about remuneration of non-executive directors (NEDs) : i. Fixed contractual remuneration, not linked to proļ¬ts to NEDs ii. If ļ¬xed remuneration is not opted, a commission on proļ¬ts iii. If commission is paid, NEDs are eligible for stock option
Answer
B. Only i and ii are correct
47
Which of the following option is correct about index mutual funds? i. Recurring expenses are low ii. Transaction costs are low iii. Systematic risk is eliminated
Answer
B. Only i and ii
48
Time value of the option in the following case is : Market price of a share is Rs. 160; the Exercise Price of a call option on the share is Rs. 150; and the market price of the call option is Rs. 20
Answer
A. Rs. 10
49
Which option is correct about selection of ļ¬xed income securities? i. Yield to maturity ii. Default risk iii. Tax shield
Answer
D. All i, ii, iii are relevant
50
What is the periodical rate of return of a mutual fund when NAV at the beginning is Rs. 100, NAV at the closing is Rs. 110 and Dividend paid is Rs. 10?
Answer
C. 20%
51
Which is the correct option about SEBI? i. SEBI shall have a chairman ii. 2 members from Central Ministry and One member from RBI iii. 5 other members of whom atleast 2 shall be the whole time members
Answer
A. Only i and ii are correct
52
Penalty for fraudulent and unfair trade practices u/s 15 HA of SEBI Act
Answer
A. 25 Crore rupees or 3 times the amount of proļ¬ts made out of such practices, whichever is higher
53
To restrict the high volatility on daily price bands on the exchanges, which option is correct as per SEBI's surveillance mechanism? i. Imposition of a weekly cap of 25% on price band ii. Consider the previous day's closing price as the uniform reference point for the calculation of price bands iii. To have a uniform daily price band of 10%
Answer
D. All i, ii, iii are correct
54
Select the correct option about the features of primary market : i. Direct issue to investors ii. Company receives money and issues new securities iii. Company mobilizes capital by oļ¬ering already issued securities
Answer
B. Only i and ii are correct
55
Select the correct option about factors considered for IPO grading by credit rating agencies i. Business prospects and competitive position ii. Financial position of the company iii. Infrastructural facilities of the company
Answer
C. Only i and ii are correct
56
Select the correct option about SEBI's role on opinion of credit rating agency i. Credit rating agency's opinion is binding on SEBI ii. Credit rating agency's opinion is binding on investor and SEBI is liable iii. The investor is free to accept or reject the opinion of the agency and SEBI is not liable
Answer
D. Only iii is correct
57
Which among the following is a progressive tax?
Answer
D. Income Tax
58
Given below are two statements Statement 1 : Transfer of a capital asset includes compulsory acquisition Statement 2 : Previous year always starts on 1st April In the light of above statements, Choose the most appropriate answer from the options given below :
Answer
B. Statement 1 is correct but Statement 2 is incorrect
59
The rate of income tax are ļ¬xed by
Answer
D. The Finance Act
60
Who among the following may be "not ordinarily resident"?
Answer
D. Hindu Undivided Family
61
Compensation received by an employee on termination of his service is a
Answer
C. Capital Reciept
62
Which of the following is not an income taxable as income from other sources
Answer
C. Rent of land appurtenant to any building
63
Relative for the taxability of gift means : 1. Parents of the individual 2. Spouse of the individual 3. Brother or sister of the Spouse of the individual 4. Brother or sister of either of the parents of the individual.
Answer
D. All of the above
64
Which of the following statements are correct Statement 1 : Amount received from Statutory Provident Fund on retirement by a government employee is fully exempt from tax Statement 2 : Encashment of earned leave after retirement by a government employee is fully exempt from tax
Answer
C. both 1 and 2 are correct
65
The basis of income from house property is
Answer
A. Annual Value
66
The maximum rent which a person can legally recover from his tenant under the Rent Control Act is
Answer
A. Standard Rent
67
Following is an expense disallowed under Proļ¬ts and Gains from business
Answer
C. Wealth Tax
68
Capital assets includes :
Answer
D. None of the above
69
For claiming exemption u/s. 54B, the assessee should purchase an agricultural land within a period of
Answer
A. Two years of transfer
70
When a depreciable asset is sold after holding 36 months, there will be
Answer
B. Short term capital gain
71
A debit note is issued by the supplier under sec.34 when
Answer
B. The taxable value shown in the invoice is lesser than the taxable value of the supply
72
In case of reverse charge, tax is paid to the Government by
Answer
B. Buyer
73
Activities or transactions which shall be treated neither as supply of goods nor supply of services is given under which schedule of GST
Answer
C. Schedule III
74
Every taxpayer who has successfully registered under GST is issued a GST registration certiļ¬cate in Form
Answer
D. GST REG - 06
75
Which of the following manufacturer cannot opt for composition levy
Answer
D. All of the above
76
Value of supply under section 15 of CGST Act is
Answer
A. Transaction value
77
Zero rated supply includes
Answer
C. Both of the above
78
Duty imposed for the purpose of protecting the interests of any domestic industry in India aiming to make it more competitive
Answer
B. Safeguard Duty
79
Which of the following are correct about Goods and Service tax? Statement 1 : The Commissioner under Sec. 69 can authorise any Oļ¬cer to arrest a person who has committed speciļ¬ed oļ¬ences Statement 2 : Any amount payable by a taxable person shall be paid within a period of 3 months from the date of service of an order
Answer
C. Both 1 and 2
80
The document which contains the detailed information to customs about goods in the vessel or an aircraft entering a country is called as
Answer
A. Import General Manifest
81
For imported goods, the conversion in value shall be done with reference to the rate of exchange prevalent on the date of ļ¬ling of
Answer
A. Bill of entry under section 46
82
Bill of entry can be presented for
Answer
D. All of the above
83
There are ___________ elements of cost
Answer
B. Three
84
The basic objective of cost accounting is ________
Answer
A. Cost ascertainment
85
Time spend by workers to meet their personal needs is an exmaple for
Answer
B. Normal idle time
86
An increase in variable cost leads to
Answer
D. None of the above
87
Time and motion study is conducted by
Answer
C. Engineering department
88
Minimum wages are guaranteed to every worker under
Answer
B. Halsey plan
89
Preliminary expenses is an example of
Answer
A. Fictitious asset
90
Depreciation on plant and machinery is a part of
Answer
D. Factory overhead
91
If P/V ratio is 60% is sales, then the remaining 40% of sales is
Answer
B. Variable cost
92
Material price variance can be calculated by
Answer
A. (AQ*AP) - (AQ*SP)
93
Break even point is the point at which
Answer
D. All of the above
94
Bonus under Halsey plan is paid
Answer
A. at 50% of time saved
95
FDI stands for
Answer
C. Foreign Direct Investment
96
Competition Commission of India was established in
Answer
A. 14th October, 2003
97
In foreign trade, an adverse balance of trade occurs, when
Answer
A. Import exceeds export
98
As per Competition Act, 2002, _____________ is the price at which goods are sold below the cost to eliminate competition.
Answer
B. Predatory price
99
The minimum number of members to be appointed by Central Government in CCI as per Competition Act, 2002 is
Answer
A. 2
100
The competition policy aims at all
Answer
C. Promoting and sustaining competitions in markets
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