| Post Name | OFFICE ASSISTANT GR.II - TRANSFORMERS AND ELECTRICALS KERALA Ltd. |
|---|---|
| Question Paper Code | 134/2023 |
| Category Code | 530/2022 |
| Date of Test | 29 July 2023 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Profit and loss account is prepared from
Answer
B. Nominal account
2
The rate of interest allowed to partners for giving loans to the firm is
Answer
C. 6%
3
del-credere commission is allowed to
Answer
B. Consignee
4
The share of goodwill brought in cash by the new partner will be credited to the old
partners in their
Answer
D. Sacrificing ratio
5
The amount of accumulated profits at the time of admission of a partner is transferred to
Answer
A. Partners’ capital account
6
In the event of dissolution of a firm, individual assets of the partners are first used
for the payment of the
Answer
B. Partners’ personal liabilities
7
Amount set aside to meet losses due to bad debts is a
Answer
C. Provision
8
Goods given as samples should be credited to
Answer
D. Purchases account
9
The conservatism concept is applied in the area were
Answer
A. Inventories are valued at cost price or market price whichever is less
10
depreciation is computed in an accounting package according to the principle laid
down in
Answer
A. Accounting standards
11
In optimum capital structure, value of the firm will be at
Answer
A. maximum
12
The process of buying securities in a market where price is low and selling where it
is high is known as
Answer
C. Arbitrage
13
_______ is a method commonly used to lower the market price of shares by increasing
the number of shares belonging to each share holder.
Answer
C. Stock split
14
_______ is the level of inventory at which total cost of inventory is minimal.
Answer
D. EOQ
15
_______ is the measure of a total risk of a firm.
Answer
C. Combined leverage
16
_______ is the intermediate approach between Net Income and Net Operating Income
approach.
Answer
D. Traditional approach
17
_______ is the cost arising out of failure of customers to pay on due time.
Answer
A. delinquency cost
18
_______ is the corporate net profits distributed among shareholders of the
company.
Answer
B. dividend
19
Which of the following statements are true about cash management ?
1. Cash management strategies are adopted to minimise the operating cash
balance requirements.
2. The higher the period of cash cycle, the higher is the cash turnover.
Answer
A. Only statement 1 is true
20
According to mm theory, the market price of the share _______ even after the payment
of dividend.
Answer
C. Unchanged
21
Read the following statements and select the correct choice given below :
i. Sunk cost is irrecoverable and is not relevant to the present decision making
ii. Period cost is also known as variable cost
Answer
A. Only statement i is correct
22
The standard labour time allowed to produce the product X is 280 hours and the
actual time taken to produce the same is 300 hours. Standard wage rate is Rs. 500
per hour and actual wage rate is Rs. 460 per hour. Find labour Rate Variance.
Answer
D. Rs. 12,000
23
The most suitable pricing method for material issues, at the time of rise in prices is
Answer
B. lIFO
24
If time allowed for a job is 20 hours and normal wage rate per hour is Rs. 50, what
will be the total earnings of a worker who complete the job in 16 hours, as per Halsey
plan ?
Answer
C. Rs. 900
25
Which of the following statement(s) about overheads are correct ?
i. Overheads cannot be directly traced to a product or service
ii. Overheads can be fixed, variable or semi-variable
iii. Rent and utilities are treated as overheads
Answer
C. All statements are correct
26
The profit-volume ratio can be improved by
Answer
C. increasing selling price per unit
27
The process of recording actual time spent by a worker on various jobs during his
period of attendance in the factory is called
Answer
B. time booking
28
Which of the following statements regarding material losses is/are true ?
i. Spoilages are units failed to reach required standard of quality and not rectified
by applying some additional cost.
ii. material scraps have small recovery value even without further processing.
iii. Defectives are imperfect products and can be rectified with additional cost.
Answer
D. All statements are true
29
If total sales amounts to Rs. 2,00,000 and Profit-Volume ratio is 30%, then the total
variable cost will be
Answer
B. Rs. 1,40,000
30
Which of the following statements are correct ?
i. Cost reduction focuses on reducing per unit cost of goods and services.
ii. Cost reduction tries to achieve temporary reduction in cost.
iii. Cost reduction is to be achieved without sacrificing quality.
Answer
D. Only statements i and iii are correct
31
Which of the following is/are not included in the functions of management suggested
by Henry Fayol ?
i. Staffing
ii. directing
iii. Co-ordinating
iv. Controlling
Answer
B. Both i and ii
32
Who among the following belongs to contributories to classical theories of
management ?
i. F.W. Taylor
ii. Henry Fayol
iii. Gilbreth
Answer
B. Both i and ii
33
The process of short circuiting ‘the chain of superiors from ultimate authority to the
lowest level in the organisation’ is referred to as
Answer
D. Gang plank
34
description of minimum knowledge, skill and abilities that are required to perform a
job in an organisation satisfactorily are termed as
Answer
C. job specification
35
In management, which among the following is not true about planning function ?
Answer
B. Planning is a one-time process
36
Rearrange the following steps in controlling process in the correct sequential order.
i. Compare actual performance with standards
ii. Find deviations from standard
iii. Establish standards
iv. measure actual performance
v. Take corrective action
Answer
D. iii, iv, i, ii, v
37
Which among the following needs is not included in the mcClelland’s three need
theory of motivation ?
Answer
A. Need for affection
38
Which of the following are the leadership styles mentioned in the managerial grid
theory of Blake and mouton ?
i. Impoverished manager
ii. middle of the road manager
iii. Country club manager
iv. Team manager
Answer
D. All of these
39
Which of the following statements about Total Quality management (TQm)
is/are correct ?
i. TQm is a customer driven initiative.
ii. TQm focuses on everyone to take responsibility for quality.
Answer
C. Both statements i and ii are correct
40
Which of the following are the On-the-job training methods ?
i. job rotation
ii. Coaching
iii. Apprenticeship
iv. Conference
Answer
A. Only i, ii and iii
41
Which among the following is/are the reason/s for inverse relation between price and
demand ?
i. Substitution effect
ii. Income effect
iii. Speculation effect
iv. Giffen goods
Answer
B. Only i and ii
42
Read the following statements and select the right alternative given below.
i. In administered pricing, prices are fixed by Board of Directors of companies.
ii. In full cost pricing, a fair amount of profit is added along with the cost price.
Answer
Question Cancelled
43
If any change in price does not affect quantity demanded, it can be due to
Answer
B. Perfectly inelastic demand
44
Which of the following statements is/are correct ?
i. Normal price refers to the long period price at which long term demand equals
to short term supply.
ii. The cost element has greater impact on the determination of long run price.
Answer
B. Only statement ii is correct
45
The internal economies of scale does not include
Answer
D. Economies of disintegration
46
Which theory of Joel Dean on advertising outlays mentions, “the more profitable and
the more liquid the financial position of the business, the more advertising should be
undertaken” ?
Answer
B. All you can afford approach
47
Which of the following statements is/are correct ?
i. marginal product is the change in total product resulting from a change in
variable input.
ii. mathematically, marginal product is the slope of the average product curve.
Answer
A. Only statement i is correct
48
The statistical methods of demand forecasting does not include
Answer
C. Opinion poll methods
49
Which of the following is not a business cycle theory ?
Answer
B. Clark’s dynamic theory
50
Read the following statements and select the correct answer from the following.
i. Cross elasticity of demand is negative for substitute goods.
ii. Cross elasticity of demand is positive for complementary goods.
Answer
D. Both statements i and ii are incorrect
51
The legal document that outlines company’s financial securities for sale known as
Answer
B. Prospectus
52
A person becomes a member when he/she
Answer
Question Cancelled
53
Which type of company can commence its business from the date of incorporation
as per Companies Act, 1956 ?
Answer
B. Private company
54
A company can change its name by passing
Answer
B. Special resolution with the approval of central govt.
55
Which among the following document explains the fundamental conditions upon
which alone company is allowed to be incorporated ?
Answer
A. memorandum of association
56
The doctrine that explains person dealing with the company is presumed to know
the contents of public documents
Answer
C. doctrine of constructive notice
57
Which among the following Section under Companies Act, 1956 explains the
provisions about statement in lieu of prospectus ?
Answer
B. Sec. 70
58
An unlisted company can issue sweat equity shares as per
Answer
A. Sec. 54 of Companies Act, 2013
59
The first annual general meeting of a company must be held
Answer
C. Within 9 months from the closing of first financial year
60
Who cannot file a petition for winding up of a company ?
Answer
C. Promoters
61
Placing of securities that are unquoted known as
Answer
B. Private placing
62
Which among the following methods, cost of raising is very high ?
Answer
A. Public issue through prospectus
63
Which among the following statement is/are correct about BSE SENSEX ?
I. It was established in 1986
II. The base year of BSE Sensex is 1980-81
III. dollex 30 is the dollar linked version of Sensex
IV. It is a free-float weighted stock market index
Answer
D. I, III and IV
64
Which among the following is to be followed for risk management by commercial
banks ?
Answer
B. Basel III norms
65
Which among the following is/are true about NSdl ?
I. It was established in july 2000
II. ‘market Ka Eklavya’ is the investor awareness programme of NSdl
III. It follows rolling settlement on T + 2 basis
IV. It holds securities in the form of physical or dematerialized format
Answer
B. II, III and IV
66
The minimum post issue paid up capital of a company for IPO listing requirement is
Answer
A. Rs. 10 crores
67
The process by which a listed company issues new shares
Answer
C. Follow on public offer
68
Which one of the following is/are not correct about SEBI ?
I. It is a quasi-judicial, quasi-executive, quasi-legislative body
II. It protects the interests of investors, intermediaries and issuers of securities
III. It was established under Securities
Answer
D. III and IV
69
Name the world’s largest derivatives exchange based on number of contracts traded
Answer
D. National stock exchange India
70
The first exchange for small companies in India
Answer
C. OTCEI
71
Which is the exception to the general rule taxation of previous year’s income during
the assessment year ?
Answer
D. Both
72
mr. A is an employee in Textiles company at a salary of rupees 36,000 per month. He is
a member of Recognised Provident Fund to which he and his employer contribute 14%
of his salary. during the year he was given a credit of rupees 10,000 as interest on the
provident balance of rupees 1,00,000. The taxable amount of Annual accretion is
Answer
B. Rs. 9,140
73
mr. Santhosh resides in Kanpur. He gets a basic salary of rupees 2,00,000 per
annum, dearness Pay of rupees 1,00,000 per annum and HRA of rupees 1,60,000
per annum. He pays a rent of rupees 1,80,000 per annum. determine the amount
of HRA chargeable to tax.
Answer
C. Rs. 40,000
74
In the case of let out house the interest on loan deductible u/s 24 taken for the purchase,
construction or repair of the house property relating to the previous year is
Answer
B. No limit
75
Which one of the following is an allowable deduction while calculating the Profits and
Gains of Business or Profession ?
Answer
A. Excise duty
76
Under Section 54 B, which one of the capital gain is exempted from tax ?
Answer
C. Capital gains arising from the transfer of agricultural land
77
mrs. X is getting a family pension of rupees 30,000 per annum. The taxable amount
of family pension is
Answer
C. Rs. 20,000
78
The deduction allowable under Section 80 GG of the Income Tax Act to an individual
having the following income : Business income rupees 2,95,000, interest on debentures
rupees 5,000. Rent paid by him for a house occupied by him for the purpose of
his residence is rupees 6,500 p.m. He deposited during the year rupees 50,000
in PPF.
Answer
D. Rs. 53,000
79
The taxable income of an individual during the P.y. 2021-22 is rupees 4,35,000. The
rebate available to him under Section 87 A is
Answer
B. Rs. 9,250
80
mr. Kumar spent an amount of rupees 1,10,000 during the P.y. 2021-2022 for
the maintenance and medical treatment of his brother who is severely disabled and
depended on him. How much is the deduction available under Section 80 dd to him ?
Answer
C. Rs. 1,25,000
81
Which one of the following is the correct combination of demographic segmentation
variables ?
Answer
B. Age, religion, sex and occupation
82
The following sub-components namely transportation, inventory control and
warehousing are included in which element of marketing mix ?
Answer
A. Place
83
The number of different product lines offered by a company in its product mix is
called
Answer
D. Width
84
mr. X purchased a new 55-inch television and after the purchase he feels that the
picture clarity is not good and the audio effect is also too bad, the mental dissatisfaction
of the consumer is called
Answer
D. All of these
85
Which one of the following is not a stage in AIdAS theory of personal selling ?
Answer
C. Attitude
86
Which one of the following is not a consumer promotion scheme ?
Answer
A. Push money
87
maruti Suzuki spends huge amounts for advertising and sales promotion for increasing
the sales of their cars, the strategy is called
Answer
B. Pull blend
88
A high quality car manufacturer adds a lower priced car to its line of prestige cars by
reducing the quality and sells the same at lower price. It is called
Answer
C. Trading down
89
When a product passes through this stage of product life cycle, competition become
severe, sales increases but at a decreasing rate and profit has started falling. This
stage is known as
Answer
B. maturity
90
The strategy of highlighting one powerful positive feature of the product in advertising
to win against competition is known as
Answer
C. Unique selling proposition
91
“An Auditor is a watch dog and not a bloodhound” This decision was observed in the
case of
Answer
D. Kingston Cotton mills Co. ltd.
92
Expenses paid for the installation of a machinery is debited to the sundry expense
account. This is an example for
Answer
B. Error of principle
93
Current file and permanent file are the part of
Answer
A. Audit working papers
94
Which one of the following is not a method for obtaining Audit Evidence ?
Answer
D. Statistical analysis
95
letter of weakness is associated with
Answer
C. Internal control
96
Accounting Standard 2 deals with
Answer
B. Valuation of inventories
97
When cash is received from mr. X, no entry is made in the cash book by the cashier
and he makes a personal use of the same. Subsequently on receipt of remittance from
mr. y the amount recorded as cash received from mr. X and this process continues.
This malpractice by the cashier is called
Answer
D. All of these
98
A casual vacancy of an auditor in a company caused by resignation of an auditor
can be filled by
Answer
A. Board of directors
99
Which one of the following is a Civil liability of an auditor of a company ?
Answer
A. liability for misfeasance
100
Investigation is compulsory in the case of
Answer
D. None of the above
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