| Post Name | VOCATIONAL TEACHER IN ACCOUNTANCY AND AUDITING |
|---|---|
| Department | KVHSE |
| Question Paper Code | 003/2016 |
| Date of Test | 6 January 2016 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Charging low price in the international market and high price in the home market is called :
Answer
B. Dumping
2
The assets bought for long term use are termed as
-assets.
Answer
D. Fixed
3
Notary Public is a
appointed by the Government.
Answer
A. Legal Practitioner
4
Subscription received in advance during the year is :
|
Answer
C. Liability
5
Exim Bank was established in the year :
Answer
D. 1982
6
Who among the following is popularly known as Father of Co-Operative movement?
Answer
B. Robert Owen
7
Abank Draft is drawn by:
Answer
C. Bank
8
Which of the following is the Capital Market Regulator?
Answer
A. SEBI
9
According to Basel I, The capital adequacy ratio for Banks is :
Answer
A. 8%
10
Interest on Drawings is Credited to:
Answer
B. Profit and Loss Account
11
Price Discrimination is possible in which of the following market situation?
|
Answer
C. Monopoly
12
Sales Revenue is Rs. 8,00,000 and P/V Ratio is 40%. Then the amount of Contribution will be:
Answer
B. 320000
13
The Consumer Protection Act Was passed in which year?
Answer
D. 1986
14
Which of the following Companies Act was passed in India recently? |
Answer
C. Companies Act 2013
15
A single legislation to replace various Indirect Tax Legislations is the following :
Answer
A. GST
16
IFC] was started as a specialized Financial institution in India in the Year :
Answer
D. 1948
003/2016 4 | A
17
Average clause in a General insurance contract discourages :
Answer
A. Under insurance
18
Opening balance of debtors is Rs, 30,000, Cash received from debtors is Rs. 6,000, Goods sold |
to debtors is Rs. 40,000, Goods returned by debtors is 1000, What is the closing balance?
|
Answer
D. Rs. 63,000 |
19
Selling price per Unit is Rs. 12, Variable cost per unit is Rs, 5, Fixed expenses Rs. 1,40,000.
What will be the BEP?
Answer
A. 20000 units
20
Narasimham Committee Report on Financial sector Reforms was Tabled in Parliament in
which of the following years?
Answer
C. 1991
21
‘Total sales of an organization is Rs. 5,00,000 and Margin of safety is Rs. 2,00,000, Calculate |
Break Even sales :
Answer
D. Rs. 3,00,000
92, Wages paid for installing an asset is to be debited to —————— Account.
22
Wages paid for installing an asset is to be debited to -
- Account.
Answer
A. Asset
23
In Responsibility Accounting, each area of activity is treated as
Answer
Question Cancelled
24
When Imputed costs are deducted from Accounting profit, we will get :
Answer
C. Economic Profit
25
Ifa Company Issued Rs. 5,00,000 worth of Equity and Rs. 15,00,000 worth of Debt Capital,
lts Capitalization is said to be ; !
Answer
B. High Geared
26
The Life Insurance corporation of India was incorporated in which year?
Answer
D. 1956
27
——__—— enables Indian investors to make investments in foreign companies.
Answer
C. IDR
28
The rate at which The RBI provides refinance to Commercial Banks is :
Answer
A. Repo
29
Section 80 D of Indian Income tax Act deals with :
Answer
D. Medical Insurance Premium
30
Transfer of shares to legal heirs on death of shareholder is called :
Answer
C. Transmission
31
Liquidation is not required in:
Answer
B. Internal Reconstruction
32
Method of doing an activity is called :
Answer
Question Cancelled
33
—————— replaces Central Planning Commission.
Answer
D. NITIAYOG
003/2016 6 A
34
The Malayalam Novel ‘OHARI is authored by :
Answer
A. K.L, Mohanavarma
35
On winding up, the Statement of affairs is prepared by :
Answer
C. Company
36
Writing off intangible Asset is called :
Answer
A. Amortization
37
Under —————— method of stores issue, the issue price reflects the current market price.
Answer
B. LIFO
38
————— clause is included in contracta to makeup the increase in the cost of materials,
labour or other expenses. .
Answer
A. Escalation
39
Maslow’s Need hierarchy Theory is based on : |
Answer
C. Human Needs
40
In the case of New Products —————— Method of pricing is most suitable.
Answer
D. Penetration
41
Arbitraging is —————_ Activity.
Answer
C. Legal
42
Which of the following is not an offence under Income Tax act?
Answer
C. Tax avoidance
43
NIFTY is based on the value of scrips Listed in:
Answer
A. National Stock Exchange
44
Fire Insurance Contract is a contract of :
|
Answer
B. Indemnity
45
Mr. A entered in to a Contract with Mr. B for the sale of a building for Rs. 20 Lakhs. Before
the execution date, the building collapsed due to earth quake. Then, the contract is -
|
Answer
D. Void
46
Nephew of Mr. X is missing. He gave a public promise that any one who can find the missing
nephew and informing him will be paid an amount of Rs. 10,000. Mr. Y the servant of Mr. X,
without knowing the promise, fetch the boy and handed over to Mr. X. Then, Mr. X refuses to
pay the promised amount. In this case which of the following statement is correct?
Answer
A. Mr, Y is not entitled to get the amount
47
MBP stands for :
Answer
D. Maximum Borrowing Power
48
Errors in totaling and balancing is an example of :
Answer
B. Error of Commission
49
SAP stands for :
Answer
A. Standard Auditing Practices
50
Recording transactions in the ledger is called :
Answer
C. Posting
51
Which of the following is a direct expense?
Answer
D. Wages
52
Unpaid salaries account is a ——————— Account.
Answer
A. Personal
53
Assets which loose their volume due to usage is called ——————— Assets.
Answer
A. Depleting
54
When two persons make identical offer to each other, without having knowledge of each |
other's offer, then it is case of :
Answer
D. Cross Offer
65. Consent is free when it is caused by -
55
Consent is free when it is caused by :
Answer
D. Free will
56
Mr. P agrees to pay Rs. 5,000 to Mr. S if it rains and Mr. S promise to pay Rs. 5,000 to Mr. P
if it does not rain, this agreement is an example of :
Answer
C. Wagering Agreement
57
General Offer can be accepted by :
Answer
A. Any person
58
General Lien can be exercised by :
Answer
D. Banker
cs)
59
Audit conducted by the employees of the organization is called :
Answer
B. Internal Audit
60
The first general meeting of a company is called :
Answer
A. Statutory meeting
61
——————— Company is a company created by a special Act in Parliament.
Answer
D. Statutory
62
IPO stands for:
Answer
A. Initial Public Offer -
63
The Excess money collected over the face value of shares shall be credited to :
Answer
B. Security Premium
64
The share capital account is debited with ——————- while forfeiting shares.
Answer
B. Called up capital
65
Security Premium cannot be used for:
. '
Answer
D. Redeem Preference Shares
‘66. A Qualified Report is issued by the Auditor when he is :
66
A Qunlified Report is issued by the Auditor when he is :
Answer
A. Dissatisfied with the Audit
67
Annual audit is otherwise known aa : o
Answer
D. Periodical Audit
0033/2016 10 A
68
Which of the following is a Social Network?
Answer
B. Twitter
69
List of detailed instructions that direct a computer is called :
Answer
C. Programme
70
The acronym CRT stands for :
Answer
B. Cathode Ray Tube
71
The validity of a cheque is —————— from the date of ite issue.
Answer
D. 3 months
72
The market where securities are issued for the first time is called ----——— market.
Answer
A. Primary
73
The process of converting the physical form of shares in to electronic form is called ;
Answer
B. Dematerialisaton
74
Bombay Stock Exchange was established in the year :
Answer
C. 1875
75
The first Co-Operative Act was passed in India in the year :
Answer
A. 1904
76
Trial Balance will detect:
Answer
C. Partial omission
77
Double entry system of Accounting was propounded by :
Answer
A. Luca Paciolli
78
20% profit on sales price means ec on cost,
Answer
B. 25%
79
Process costing method is used for :
Answer
Question Cancelled
80
Ratio of Net income to Number equity shares is known as:
Answer
C. Earnings per share
81
Who among the following was called The Jhansi Rani of Travancore by Mahatma Gandhi?
Answer
B. Akkamma Cheriyan
82
The Travancore State Congress was formed in the year :
Answer
A. 1938
83
One among the co-founders of Legue of Opressed People was :
Answer
C. Chembaka Raman Pillai
84
The Kerala Kaumadi news paper was started by:
Answer
D. C.V. Kunji Raman
85
The first President of Nair Service Society was :
Answer
A. K. Kelappan
86
A.B Selam was a famous :
Answer
B. Jew leader
87
The Pattini March from Kannur to Madras in 1936 was led by: .
Answer
C. A.K. Gopalan
88
Swathanthrya Gatha was written by :
Answer
D. -Kumaranasan
89
The Channar Agitation achieved its objectives in the year :
Answer
A. July 1859
90
The Church Mission Society was founded in 1821 by :
Answer
C. Benchamin Baily
91
Literary criticism in Malayalam Literature was initiated by :
Answer
D. Raja Raja Varma
92
To which of the following political parties does Tejashwi Prasad belong?
Answer
B. Rashtriya Janatha Dal
93
Which Among the following state is known as the Denmark of India?
Answer
B. Hariyana
94
Orange Book is the Official Book of which of the following Countries?
Answer
A. Netherland
95
The first Opposition leader of the Kerala Legislative Assembly was :
Answer
D. P.T. Chacko
96
The National Food Security Act 2013 became law on :
Answer
C. September 12, 2013
97
Floid MayWeatherJr, the famous Boxing Player belongs to which Country :
Answer
D. United States of America
98
The Anglo Indian Nominee to the 16th Loksabha from Kerala is :
Answer
A. Richard Hay
99
By which constitutional Amendment in 1986 was the State of Mizoram created :
Answer
C. 53"d Amendment
100
Mahakavi Vallathol established Kerala Kalamandalam at Cheruthuruthy in :
Answer
B. 1930
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