| Post Name | MANAGER KHADI GRAMODYOG BHAVAN/ GODOWN KEEPER |
|---|---|
| Question Paper Code | 093/2022 |
| Category Code | 062/2020, 063/2020, 610/2021, 611/2021, 110/2022 |
| Date of Test | 25 September 2022 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
An item is valued at the exchange price at the date of acquisition and shown in the financial
statements at that value or an amortised portion of it. This is as per the principle of:
Answer
B. Cost
2
When a sole proprietor decided to use same bank account for his business as well as personal
affairs, the ————— accounting principle is violated.
Answer
B. Entity
3
—————— is the basis of maintaining accounts followed by Indian Companies.
Answer
C. Accrual basis and double entry system
4
Given Opening stock = 17600, Closing stock = 10560
Cost of goods sold = 1,83,040.
The amount of purchase will be
Answer
A. 1,76,000
5
As per the —————— concept, capital is shown in the liability side of Balance sheet.
Answer
A. Entity concept
6
Which of the following conditions is not true in case remuneration payable to partners is
allowed as a deduction of a partnership firm under Income tax Act 1961?
Answer
B. Remuneration can be paid to all partners
7
Which of the following is true with respect to Interest on Capital of partners?
Answer
C. Either
8
At the time of retirement, continuing partners acquire the share of outgoing partners in
—————— ratio.
Answer
A. Gaining ratio
9
Which of the following is not true in case of dissolution of a partnership firm?
Answer
B. Revaluation account is created
10
The proceeds from the sale of assets along with the contribution of partners at the time of
dissolution of a firm are first used to pay off:
Answer
C. External Liabilities
11
The firms cost of capital is equal to the opportunity cost of equity capital in a –––––––––––––
firm.
Answer
B. All equity financed firm
12
Companies with falling or constant profits can:
Answer
A. Avoid paying dividend during inflation
13
Maximization of the owner’s wealth/ Shareholder’s wealth is represented by which of the
following:
Answer
A. Market price of a share
14
–––––––––––– dividend amounts to capitalization of earnings and distribution of profits
among the existing shareholders without affecting the cash position of the firm.
Answer
Question Cancelled
15
Which among the following is not a determinant of dividend policy?
Answer
Question Cancelled
16
According to –––––––– whatever increase in the value of the firm results from the payment is
dividend will be exactly offset by the decline in the market price of share.
Answer
B. Modigliani and Miller
17
Which one of the following is not an assumption of Walter’s Model of dividend?
Answer
B. the investments of the firm are financed using external sources of funds
18
The cash kept aside by the investor equips him to exploit an attractive investment
opportunity. This motive is termed as:
Answer
B. Speculative motive
19
––––––––––––– approach of working capital depends more on short term funds.
Answer
A. Aggressive approach
20
Under –––––––––– technique of inventory control, inventory items are classified based on
their annual usage value in monetary terms.
Answer
D. ABC analysis
21
The basic requirement of ––––––––––––– technique is the separation of fixed and variable
cost.
Answer
A. Marginal costing
22
––––––––––––– are those cost that can be specifically and exclusively identified with a
particular cost object:
Answer
B. Direct cost
23
The predetermined or target costs that are incurred under efficient operating conditions are:
Answer
C. Standard Cost
24
–––––––––––––– is equal to the difference between the standard wage rate per hour (SR) and
the actual wage rate
Answer
C. Wage rate variance
25
The term –––––––––––––describes the situation where all business function are involved in
the process of continuous quality improvement.
Answer
D. TQM
26
Profit Volume Ratio establishes the relationship between:
Answer
A. Contribution and sales
27
––––––––––– is the aggregate amount of revenue available after variable costs to cover fixed
expenses and provide profit to the company.
Answer
B. Contribution margin
28
Time lost in the normal course of activity is known as:
Answer
A. Normal idle time
29
The margin of safety in the difference between ––––––––––––– and break-even point.
Answer
D. Actual sales
30
The combination of indirect material, indirect labour and indirect expenses are:
Answer
A. Overheads cost
31
––––––––––– is the father of modern theory of management.
Answer
B. Henry Fayol
32
––––––––––– developed the theory of motivation based on the hierarchy of needs.
Answer
B. Abraham Harold Maslow
33
Which among the following is not a technique of TQM?
Answer
A. Quality measurement
34
Who conducted the Hawthrone experiment?
Answer
C. Elton Mayo
35
The concept of MBO was introduced by:
Answer
A. Peter F. Drucker
36
The number of subordinate being efficiently and effectively managed by the individual
manager:
Answer
C. Span of control
37
––––––––––– is the oldest form of organization structure.
Answer
B. Line
38
The –––––––––––– approach of management treated organisation as a closed system.
Answer
B. Classical
39
Coaching is a method of_____________ training.
Answer
C. On the job
40
The communication pattern under which the subordinate can communicate with and through
one manager:
Answer
D. Chain
41
A New product is only an outgrowth of the existing product, depends on the –––––––––––
approach.
Answer
C. Evolutionary
42
A firm can have supernormal profits in the long run under:
Answer
A. Monopoly
43
Fixing a higher price in the initial stage is known as:
Answer
B. Market skimming
44
Predictive analysis, conjoint analysis, client intent surveys and the Delphi Method are the
methods of:
Answer
B. Demand Forecasting
45
Demand estimation process includes:
Answer
D. All the above
46
The ––––––––––––– measures the percentage change in sales for a given percentage change
in the good’s price, all other factors held constant.
Answer
A. Price elasticity of demand
47
The –––––––––––function depicts the relation between physical outputs of a production
process and factors of production.
Answer
C. Theory of production
48
When the economy experiences rapid growth, low interest rates, increase in production it is
known as
Answer
A. Expansion
49
––––––––– demand forecasting is related to the business conditions prevailing in the
economy as a whole.
Answer
B. Macro level
50
The Investments may increase when the rate of interest is –––––––––– in the economy.
Answer
Question Cancelled
51
Maximum number of members in a private company is:
Answer
D. 200
52
Annual Return filed with the ––––––––– in Form No.MGT-7 provides information about
Companies.
Answer
A. Registrar of companies
53
Which of the following statement is/are correct about general meeting of a company?
(i) Giving not less than twenty-one day’s notice either in writing or through
electronic mode is a pre-requisite before a general meeting of a company.
(ii) As per proviso to section 101 of the companies Act 2013, a general meeting may be
called after giving shorter notice than that specified in the statement (i)
(iii) The notice of every general meeting shall not be given to every director of the
company
(iv) In the case of a private company, one member personally present, shall be the
quorum for a meeting of the company.
Answer
B. Only (i) and (ii)
54
Nomination and Remuneration Committee shall be constituted from the auditors of the
company:
Answer
B. The above Statement is incorrect.
55
Two modes of Winding up as per section 270 of the Companies Act 2013 are:
Answer
D. Winding Up by National Company Law Tribunal and Voluntary winding up
093/2022 10 A
56
Overriding preferential payments as per section 326 and Preferential payments as per
section 327 of the Companies Act 2013 are applicable in the case of
Answer
A. Winding up of a company
57
Which of the following statement is/are correct as per Companies Act 2013?
(i) Minimum number of directors in public company is five
(ii) Minimum number of directors in public company is three
(iii) Minimum number of directors in private company is two
Answer
C. Only (ii) and (iii)
58
Which of the following statement is/are correct as per Companies Act 2013?
(i) Normally, independent directors are executive directors of the company
(ii) Every listed public company shall have atleast one-third of the total number of
directors as independent directors
Answer
B. Only (ii)
59
As per Section 132 of the Companies Act 2013, the Central Government can constitute
–––––––––– to provide for matters relating to accounting and auditing standards.
Answer
A. A National Financial reporting authority
60
A company which is formed for the promotion of commerce, art, science, sports, education,
research, social welfare, religion, charity, protection of environment or any such other object
is known as:
Answer
C. Section 8 Company as per the Companies Act 2013
61
The Centralized web based complaints redress system of SEBI is known as:
Answer
A. SCORES
62
Angel fund is created to invest in :
Answer
C. Start up business
63
A Company may issue bonus shares to its members out of:
(i) Its free reserves
(ii) The Securities premium account
(iii) The capital redemption reserve account
Answer
D. All of the above (i),(ii) and (iii) are correct
64
Which of the following statement is/are correct as per Companies Act 2013?
(i) A Public company can issue Right shares and bonus shares
(ii) A Private company can issue Right shares and bonus shares
Answer
B. Both (i) and (ii) are correct
65
Which of the following statement is/are correct?
(i) Financial assets are intangible assets which are expected to provide future
benefits in the form of claim to future cash
(ii) Indian financial system consists of both organized and unorganized financial
system
(iii) Money market can be divided into two namely primary segment and secondary
segment
Answer
B. Only (i) and (ii) are correct
66
Commercial banks Collect cheques, demand drafts, bills etc on behalf of their customers as
part of :
Answer
A. Agency services
67
Demutualization is the process by which member owned organization can become a
shareholder company. Demutualization is the term which is related with:
Answer
D. Stock exchanges
68
––––––––––––– as a tool which helps to curb excess volatility in the stock exchanges.
Answer
A. Circuit Breakers
69
Listed companies can file appeal against the orders of stock exchanges in the –––––––––– as
per securities Contract (Regulation) Act, 1956.
Answer
C. Securities Appellate Tribunal
70
Which of the following Statement is/ are correct?
(i) Companies have to obey Indian Companies Act 2013 for listing of shares. It is not
necessary to obey SEBI regulations to list their shares in stock exchanges.
(ii) Companies have to obey SEBI Regulations for listing of shares. It is not necessary
to obey Companies Act 2013 to list their shares in stock exchanges.
(iii) Companies have to obey both SEBI Regulations and the Indian Companies
Act 2013 to list their shares in stock exchanges.
Answer
B. Only (iii) is correct
71
Cultural factors consist of culture, subculture and:
Answer
B. Social class
72
Pick the correct option based on the statement given below:
The dimensions of product mix are
Answer
D. Consistency
73
Which of these statement is correct about investigation vs auditing?
Answer
Question Cancelled
74
Minor’s income is clubbed to:
Answer
C. Father’s income or Mother’s income whichever is greater
75
Which of the supporting voucher is needed to vouch the receipts from Bill
Receivables?
Answer
C. Debtors explanation for outstanding debts
76
Out of which income deduction u/s 80G is not allowed?
Answer
B. Short term capital Gain u/s 111A
77
Towards the end of this stage, prices of product begin to fall and profits peak. By this time
most firms have recovered their development cost and their main priority is to increase or
retain market share and to enhance profit. Which stage of product life cycle is mentioned
here:
Answer
A. Maturity
78
Which of the statement is not true about auditing working papers?
Answer
D. It only mentions the name, nature and Board of directors of company
79
A Non-speculative business discontinued in the previous year 2019-20. The brought forward
loss can be set off against income from:
Answer
D. Income from business
A 15 093/2022
80
Among the following which of these is an example of Pull Marketing strategy?
Answer
B. Media coverage
81
A super Senior Citizen shall be that individual for the purpose of Income tax whose age is
more than:
Answer
C. 80 years
82
Who has introduced the concept of Market segmentation?
Answer
C. Wendel R. Smith
83
Which one is not related to auditing?
Answer
A. Trial balance
84
Interest credited in Recognized Provident fund account is exempt upto:
Answer
B. 9.5%
85
Concealment of shortage by delaying the recording of cash receipt is known as:
Answer
C. Lapping
86
Dividing buyers into groups based on their knowledge, attitude, uses or response to a product
is called:
Answer
D. Behaviourial segmentation
87
Principles of Auditing Professional ethics are:
Answer
C. Code of conduct and professional ethics of Auditors
88
Arrears of rent received during the previous year Rs 1,00,000. From this amount deduction is
to be allowed:
Answer
C. 30,000
89
The principal objective of audit is:
Answer
B. To report to management of business whether the balance sheet exhibits a true
and fair view of the state of affairs of the business
90
From the following which is an admissible expense?
Answer
A. Expenses on assessment of income tax
91
Which of these Companies uses the tagline “Think Different”?
Answer
A. Apple
92
Audit Programme is
Answer
A. It is an action plan containing the details regards to the conduct of Particular
Audit
93
Capital Gain on depreciated assets will always be :
Answer
A. STCG
94
Which of these is not a correct statement about the features of Modern Marketing?
Answer
C. Modern Marketing is Producer oriented
95
Income from sub letting of house property is taxable under :
Answer
C. Income From Other Sources
96
Which of the following is not an element of Promotion mix?
Answer
C. Branding
97
Loan against the Security of Land and Property are verified from:
Answer
D. The Mortgage Deed
98
Which of these is true about section 80 D of Income Tax Act?
Answer
B. Medical Insurance Premium
99
Among the option given, which of these cannot be considered as a role that customers play in
a buying decision?
Answer
D. Stocker
100
Which of these cannot be considered as an objective of Internal control system?
Answer
D. Assets not be verified, mere recording is enough
————————
093/2022 18 A
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