| Post Name | Manager Grade IV - Kerala State Financial Enterprises Limited |
|---|---|
| Question Paper Code | 008/2025/OL |
| Category Code | 720/2023 |
| Date of Test | 31 January 2025 |
| Exam Type | Online Examination |
| Total Questions | 100 |
1
XYZ Ltd. purchased machinery worth Rs.10,00,000 and paid Rs. 20,000 as installation charges. However, the accountant recorded only Rs. 10,00,000 under Machinery Account. What accounting principle has the accountant violated ?
Answer
B. Historical Cost Principle
2
Which of the following statement is/are correct regarding a Trial Balance ? 1. A Trial Balance ensures that the financial statements are accurate. 2. A Trial Balance confirms the arithmetical accuracy of ledger accounts. 3. Errors of omission are revealed through a Trial Balance.
Answer
B. Only 2 is correct
3
Match the following types of errors with their examples List -I List -II a) Error of Omission i) Recording sales as purchases b) Error of Principle ii) Forgetting to record an expense c) Compensating Error iii) Over-debiting one account and over-crediting another d) Error of Commission iv) Recording an entry in the wrong ledger account
Answer
A. a-ii, b-i, c-iii, d-iv
4
A company prepares its final accounts. The following adjustments are noted. 1. Rent of Rs. 10,000 is outstanding. 2. Insurance premium of Rs. 5,000 is prepaid. 3. Provision for doubtful debts is increased by Rs. 2000. How will these adjustments affect the Profit & Loss Account ?
Answer
D. Subtract Rs. 7,000 from net profit
5
A company prepares its Trading Account and finds that the closing stock has been overvalued by Rs. 50,000. What will be the immediate impact of this error on the financial statement ?
Answer
A. Net profit will be overstated
6
Assertion (A) : Errors in a Trial Balance can always be detected easily. Reason (R) : The Trial Balance ensures arithmetical accuracy but not the absence of errors.
Answer
D. A is false, but R is true
7
In the context of grouping and marshalling, liabilities are generally arranged in the Balance Sheet in the order of
Answer
A. Maturity
8
What is a Ledger ?
Answer
B. A collection of all accounts where transactions are recorded
9
A company recorded the following transactions. 1. Purchased goods worth Rs. 20,000 on credit. 2. Paid Rs. 5,000 to creditors. 3. Received Rs. 10,000 from debtors. What is the impact on the Cash Account after these transactions ?
Answer
C. Rs. 5,000 increase
10
Statement I : Deferred revenue expenditure is amortized over several accounting periods. Statement II : This is an example of the Prudence concept. Which of the following is correct ?
Answer
C. Statement I is correct, but statement II is incorrect
11
Which of the following is included within the definition of ''revenue'' according to Accounting Standard (AS) 9, 'Revenue Recognition', issued by the Institute of Chartered Accountants of India (ICAI) ?
Answer
D. The use by others of enterprise resources yielding interest, royalties and dividends
12
Consider the following statement regarding AS-1, Disclosure of Accounting Policies i. All significant accounting policies adopted in the preparation and presentation financial statement should be disclosed. ii. The disclosure of the significant accounting policies as such should not be form part of the financial statements. iii. The significant accounting policies should normally be disclosed in one place. Which of the above statements is/are not correct ?
Answer
B. Statement ii only
13
Which among the following are correct statements about International Accounting Standards Board ? i. IASB members are appointed by the Trustees of the IFRS Foundation. ii. IASB members are responsible for the development and publication of IFRS Accounting Standards. iii. IASB is not responsible for approving interpretations of IFRS Accounting Standards as developed by the IFRS Interpretations Committee. Choose the most appropriate answer from the options given below.
Answer
A. Statement i and ii only
14
Match List I with List II and choose the correct answer from the option given below List I List II i. Profit and Loss Adjustment A/C a. Prepared to show the distribution of profits among partners. ii. Realisation A/C b. It is prepared when the partners decide to give effect to the revaluation of assets and liabilities without affecting the existing amounts of assets and liabilities. iii. Profit and Loss Appropriation A/C c. Prepared to incorporate all such changes that are made in various assets and liabilities. iv. Memorandum Revaluation A/C d. A nominal account prepared to find out the profit or loss on the sale of assets and payment of liabilities on dissolution of a partnership firm.
Answer
D. i-c, ii-d, iii-a, iv-b
15
Under Fixed Capital Accounts method, the withdrawal of capital by a partner is
Answer
C. Debited in Partners' Capital Account
16
Which of the following statements regarding the policy for recognition of income of Banking Company is correct ?
Answer
D. Interest on advances against term deposits may be taken to Income Account on the due date, provided adequate margin is available in the accounts
17
Consider the following statement regarding the preparation of Revenue Account of General Insurance Company. i. Claims incurred but not reported should not be included in the amount for outstanding claims. ii. The surveyor fees, legal and other expenses shall be included in the claim cost. iii. Claims includes management expenses but not specific claims settlement cost. Which of the above statements is/are correct ?
Answer
B. Statement ii only
18
Which of the following is not an Accounting Software ?
Answer
A. SPSS
19
The journal entry for issue of 1000, 5% Debentures of Rs. 100 each at a discount of 5% and Redeemable at a premium of 5% is
Answer
C. Bank A/C ........... Dr. Rs. 95,000 Loss on issue of Debentures A/C ....... Dr. Rs. 10,000 To 5% Debentures Rs. 1,00,000 To Premium on Redemption of Debentures A/C Rs. 5,000
20
X Ltd. Forfeited 200 shares of Rs. 10 each for non-payment of final call of Rs. 4. Out of these forfeited shares, 120 shares were re-issued at par as fully paid-up. The mount transferred to Capital Reserve Account is
Answer
B. Rs. 720
21
Following statements are on Common Size Financial Statements, Except one. Identify it.
Answer
D. In this analysis a historical year is taken as base year
22
Consider the following statements on 'q ratio' proposed by James Tobin. Identify the wrong statement.
Answer
D. A firm will have incentive to invest till 'q' is less than 1
23
Following assertions are related to 'Cash Flow Statement'. Read it carefully and identify the wrong assertion.
Answer
B. Whatever method is used, the net cash flows will be same and is always equal to net income
24
What is Break-even Quantity of a company with following information. Selling Price Rs. 9/unit; variable cost : Rs. 5/unit; Fixed Operating Expense : Rs. 1,00,000/year; Interest on borrowed capital: Rs. 5000/month.
Answer
B. 40,000 units
25
Which of the following Functional Budget is prepared first ?
Answer
A. Sales Budget
26
Following statements are related to depreciation and 'fund flow statement'. You are requested to find out correct assertion.
Answer
A. Depreciation is a non-fund item
27
The inflation Accounting method or system, which is specific to a firm or an industry, is
Answer
C. Current cost accounting method
28
In forensic accounting, while doing analysis, different symbols and tools are used by investigator. A rectangle is often used to symbolise which of the following relations ?
Answer
C. A group or organisation
29
Which of the following is not a mobile app for budgeting ?
Answer
Question Cancelled
30
Given below are the various valuation concept in Human Resource Accounting and it proposers. identify the option that correctly matches. HR Valuation Concept Proposer i. Opportunity Cost Method 1. Lav and Schwartz ii. Economic Valuation Method 2. Rensis Likert and Eric G. Flamholtz (Present value of Future Earnings method) iii. Replacement cost 3. Heckiman and Jones
Answer
C. i-3, ii-1, iii-2
31
The ratio of the present value of project's future net cash flows to the projects initial cash outflow is called
Answer
A. Profitability Index
32
The __________ is called a situation where a budget ceiling or constraint is placed on the total size of capital expenditure during a particular period.
Answer
D. Capital Rationing
33
Planning the operations of a business enterprise in such a way to earn maximum profit or maintain a specified level of profit is called
Answer
C. Profit planning
34
If the present value of cash inflows from a project for a period of 3 years is Rs. 68,520 and the total initial investment of the project is Rs. 60,000, the profitability index will be
Answer
D. 1.14
35
A __________ is a short term unsecured promissory note issued by firms for its working capital financing.
Answer
B. Commercial Paper
36
Which among is the following is not a method of working capital financing ?
Answer
C. Issue of Equity share capital
37
In financial Planning, which among the following inventory valuation model is best suitable in times of inflation ?
Answer
C. LIFO method
38
____________ is a graphical display of relationship between a present decision and a possible future event, future decision and their consequences.
Answer
B. Decision Tree
39
The difference between an investment project's net cash flows and the project's initial cash out flow is called
Answer
B. Net Present Value
40
Trade credit as a source of working capital finance refers to
Answer
D. Deferred payment terms offered by suppliers
41
Which of the following statement are incorrect with respect to the marketing ? i. It is a truism that marketing begins and ends with consumers. ii. The 5Ps of marketing mix consists of 4Ps of marketing and people as the fifth P. iii. The Marketing Mantra CCDVTP is popularised by Peter Drucker
Answer
B. Statement iii alone is incorrect
42
Identify the correct statements from the following with regard to the concepts/stages in marketing. i. Mass production of goods is a characteristic of production Oriented Stage (Concept). ii. Selling Oriented Stage (Concept) focus on inducing and influencing consumers to buy products. iii. Customers or Consumer Oriented Stage (Concept) considers Consumers as the ''king'' in marketing.
Answer
D. Statements i, ii and iii are correct
43
Find the incorrect statement from the following. i. In marketing, ''Packing'' means the essential wrapper forming part of a product which is done by the producer at the time of its production. ii. The correct order of stages in Product Life Cycle is introduction, Maturity, Growth and Decline. iii. Brand Equity consist of elements such as Brand Awareness, Perceived Value (Quality), Brand Association and Brand Loyalty.
Answer
C. Statements i and ii are incorrect
44
Find the correct statements from the following. i. Augmented Product in the Customer Value Hierarchy means the additional benefits or services offered with a product which are not related to the original purpose. ii. Demand of industrial goods are primary in nature and are not depended on the demand of consumer goods. iii. Impulse goods are purchased immediately to fill an urgent need.
Answer
A. Statement i alone is correct
45
Identify the false statements from the following. i. moving average, least squares and trend projection methods are the examples of statistical methods of demand forecasting. ii. Delphi method of demand forecasting involves taking opinion survey from the sale force. iii. Barometric method of demand forecasting adopts the methodologies similar to weather forecasting
Answer
B. Statement ii alone is false
46
Identify the true statement from the following i. CRM typically involves the four stages such as customer acquisition, customer retention, customer expansion and customer reactivation. ii. Database marketing involves a systematic approach to gather, consolidate and process consumer data to create personalised communication for the promotion of products or services. iii. CRM aims at immediate sales improvement and has only narrow scope of short term results.
Answer
A. Statements i and ii alone are true
47
Identify the wrong statement from the following i. Niche marketing a new concept in marketing which considers the entire market as a single unit without any segmentation. ii. De-marketing is adopted when the supply of goods exceeds its potential demand. iii. Remarketing is adopted when there is possible decline in the potential demand for a product in the market.
Answer
C. Statements i and ii alone are wrong
48
Which of the following is not true with respect to Rural Marketing ? i. Goods are generally sold in small packets or in small quantities. ii. Market Segmentation is relatively easy and positioning is effortless. iii. High degree of price sensitivity
Answer
B. Statement ii alone is not true
49
Which of the following is true with regard to Digital Marketing ? i. Pay Per Click (PPC) is a popular revenue sharing model in digital marketing. ii. Search Engine Optimisation technique is largely used in digital marketing. iii. Social Media marketing is largely used for better reach and increased conversion rate.
Answer
D. Statements i, ii and iii are true
50
Find the wrong statements from the following related to the content marketing. i. Content Marketing is an effective way to reach prospective customers and drive the sales revenue. ii. Social Media is a beneficial form of content marketing channel. iii. Content Marketing focuses on creating relevant educational contents for the benefit of targeted audience (current and potential)
Answer
A. None of the statements are wrong
51
According to peter Senge, which of the following is not a discipline of a learning organization ?
Answer
C. Transactional Leadership
52
Which of the following is a key concept in the Theory of Constraints (TOC) ?
Answer
B. Continuous identification and resolution of bottlenecks
53
Match the following. Column A Column B 1. Theory of Constraints A. Bottlenecks in process improvement 2. Peter Senge B. Organizational Learing 3. Michael Porter C. Competitive Strategy 4. Wernerfelt D. Resource -Based View(RBV)
Answer
A. 1-D, 2-A, 3-C, 4-B
54
What is the main assumption of the Resource-Based View(RBV) of the firm ?
Answer
B. Unique internal resources are the source of sustained competitive advantage
55
Which leadership style is most closely associated with high concern for people and low concern for production in Blake and Mouton's Managerial Grid ?
Answer
A. Country Club Management
56
According to Vroom's Expectancy Theory, motivation is determined by three factors. Which of the following is not one of them ?
Answer
D. Equity
57
Which of the following statements aligns with Fiedler's Contingency Model of Leadership ?
Answer
B. Leadership effectiveness depends on the leader's style and the situation's favorableness
58
What is the primary focus of situational leadership theory by Hersey and Blanchard ?
Answer
A. Matching leadership style to employee development level
59
The balanced scorecard approach in controlling evaluates performance based on
Answer
B. Both financial and non financial metrics
60
Which motivational theory suggests that morale can improve when employees perceive fairness in the workplace ?
Answer
C. Equity theory
61
Audit of Govt Department and office is carried out by
Answer
A. CAG and his staff
62
Sec 233 B of Companies Act 1956 deals with
Answer
B. Some Companies that should engage cost Audit
63
Which of the following entries are recorded in Journal proper ? i. Dishonour and renewal of bills. ii. Allotment of shares. iii. Forfeiture and reissue of forfeited shares. iv. Purchase and sale of assets on credit
Answer
D. All
64
Which of the following statement is wrong ? i. Inherent risk - risk of material error in the accounts if controls were not there. ii. Control risk - risk that material error in accounts will escape the controls. iii. Detection risk - risk of material error escaping the substantive audit procedure.
Answer
D. None
65
Which Indian Company has been pioneer in issuing social audit document ?
Answer
D. Tata Steel Ltd.
66
Weakness Letter is concerned with evaluation of
Answer
C. Internal Control
67
A Company Auditor addresses his audit report to the
Answer
B. Members
68
Which of the following statement is true ?
Answer
B. Auditor should ensure that the audit evidence in electronic form is safely stored and can be retrieved when needed.
69
Which of the following does not fall under outstanding liability ?
Answer
D. Deferred revenue expense
70
Approving of transactions by someone other than the person authorised to do so is
Answer
A. Procedural error
71
What does the term ''network topology'' refer to ?
Answer
B. The physical and logical arrangement of computers in a network
72
Which of the following is not true for a hybrid topology ?
Answer
C. It is always cost-effective to implement
73
Which of the following is a cyberspace-related organization ?
Answer
A. ICANN
74
Which cryptographic algorithm is based on the concept of a public and private key pair ?
Answer
B. Asymmetric Key Cryptography
75
Which protocol is used for secure and encrypted remote login ?
Answer
B. SSH
76
Which of the following is a message access protocol for retrieving email from a mail server ?
Answer
C. POP3
77
What type of communication is supported by newsgroups ?
Answer
B. Asynchronous group discussions and message posting
78
Which of the following is a supplementary protocol that allows non- ASCII data to be sent through e-mail ?
Answer
C. MIME
79
Which type of firewall examines the header information of each packet ?
Answer
B. Packet-filtering firewall
80
Which of the following verify the authenticity and integrity of digital data using cryptographic algorithms ?
Answer
C. Digital Signatures
81
Which of the following statements correctly describes ''Web Jacking'' under the Information Technology Act, 2000 ?
Answer
D. Hijacking the domain name of a website and redirecting users to another fraudulent website
82
Which statement correctly identifies an "e-contract" under the IT Act, 2000 ?
Answer
B. Contracts formed through electronic communication and digital signatures
83
A multinational company's server in Mumbai was accessed by an employee in Delhi who downloaded confidential client data. While downloading, they accidentally triggered a security protocol that corrupted data on connected servers in Singapore and Dubai. Under the IT Act, 2000
Answer
C. Indian authorities have jurisdiction over the entire act and its consequences globally
84
An e-commerce platform's payment gateway was compromised through a sophisticated attack that : First made micro-transactions of Rupee 1 (Salami attack) Then redirected users to a fake payment page (web jacking) Finally defaced then original website with fake offers Which statement best describes the legal implications ?
Answer
D. It's a composite cyber-crime requiring integrated investigation under multiple sections
85
A hacker gained unauthorized access to a bank's network but instead of stealing data : identified critical security vulnerabilities Documented the findings informed the bank's management published the methodology (Without specific vulnerability details) on a security forum Under the IT Act, what is the legal position?
Answer
B. Offense under Section 43 regardless of intent
86
Regarding the scope of cyber laws in India, which statement is accurate
Answer
B. They cover both civil and criminal aspects of cyberspace
87
Which statement is accurate regarding cyber contraventions under the IT Act, 2000 ?
Answer
B. Cyber contraventions are civil wrongs punishable with compensation
88
Which statement correctly describes "Salami Attacks" in cyber law ?
Answer
B. Multiple small fraudulent transactions that go unnoticed
89
Which statement is correct about denying access to authorized persons under the IT Act ?
Answer
C. Any act preventing authorized access is punishable
90
Which statement correctly describes "Web Defacement" under cyber law ?
Answer
A. Changing or modifying the content of a website without authorization
91
Choose the most appropriate answer Benefits of Core Banking are i. Reliable centralized data recovery ii. Data warehousing and data mining technologies iii. Integrated customer centric services iv. None of the above
Answer
A. i, ii and iii
92
Which type of card offers credit facility to customers ?
Answer
C. Credit Card
93
Choose the most appropriate answers Cheque truncation can be done by i. Using MICR data ii. Using image processing iii. Sending Cheque by speed post iv. All of the above
Answer
B. i and ii Only
94
Choose the most appropriate answer. What are the services offered through mobile banking ? i. Fund transfer and Bill payment ii. Placing a stop payment on a cheque iii.Requesting an account statement iv. Cash withdrawal
Answer
D. i, ii and iii
95
Which type of card allows the holder to spend only what is in his account ?
Answer
A. Debit Card
96
Choose the most appropriate answer. The services of CORE banking includes i. To deposit a cheque for collection into the account ii. To deposit cash into account iii. To obtain statement of account iv. To transfer of fund
Answer
D. i, ii, iii, iv
97
Which mechanism allows banks to transfer of fund from one bank to another bank on a 'real time' and on 'gross basis ?
Answer
B. RTGS
98
Choose the correct answer Banking Sector Reforms includes i. Prudential accounting standards ii. Income Recognition iii. Asset Classification iv. Provisioning Requirements
Answer
D. i, ii, iii, iv
99
Choose the most appropriate answer. Computer audit Covers i. Asset Safeguarding ii. Data integrity iii. System effectiveness and efficiency iv. All of the above
Answer
D. iv Only
100
What is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players
Answer
C. Financial Inclusion
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