In matching concept which of the following will be matched?
a.
Expenses with capital
b.
Assets with liabilities
c.
Capital with profit
d.
Revenues with expenses
Correct Answer
Step-by-Step AI Explanation
Verified Method
The matching concept in accounting requires matching revenues earned during a period with the expenses incurred to generate those revenues.
Q1short answer2 marks
The formula for margin of safety is ________.
Step-by-Step AI Explanation
Verified Method
Margin of safety = Actual sales - Break-even sales.
It may also be expressed as a percentage:
$$\text{Margin of Safety \%} = \frac{\text{Actual Sales} - \text{Break-even Sales}}{\text{Actual Sales}} \times 100$$
Q2mcq1 mark
When shares are forfeited, the share capital account is debited by:
a.
Paid-up capital
b.
Called-up amount
Correct Answer
c.
Calls-in-arrear
d.
Nominal value of such shares
Step-by-Step AI Explanation
Verified Method
On forfeiture, the share capital account is debited with the called-up amount on the forfeited shares, since that amount is no longer receivable from the shareholder.
Q2mcq2 marks
A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1. C retired. The new profit sharing ratio between A and B will be :
a.
3:2
b.
2:3
c.
1:1
Correct Answer
d.
2:1
Step-by-Step AI Explanation
Verified Method
Since C retires and the question gives no new sacrifice/gain details, A and B continue in the same mutual ratio as before: 2:2, which simplifies to 1:1. The printed key also marks 1:1 as correct.
Q3mcq1 mark
Balance of realization account is transferred to the capital account of the partners in:
a.
Capital ratio
b.
Profit sharing ratio
Correct Answer
c.
Interest ratio
d.
Equally
Step-by-Step AI Explanation
Verified Method
The profit or loss on realization is transferred to partners’ capital accounts in the profit-sharing ratio agreed among the partners.
Q3mcq2 marks
Zero base Budgeting refers to :
a.
Short term and Long term Budgeting
b.
Sales Budget
c.
Performance Budget
d.
Justification of every item in the budget afresh
Correct Answer
Step-by-Step AI Explanation
Verified Method
Zero-base budgeting requires every budget item to be justified from scratch rather than simply using last year's allocations. That is exactly what option D states.
Q4mcq1 mark
Amount due to outgoing partner is shown in the balance sheet as his:
a.
Reserve
b.
Asset
c.
Capital
d.
Loan
Correct Answer
Step-by-Step AI Explanation
Verified Method
The amount payable to an outgoing partner, if not immediately paid, is shown as a loan payable by the firm.
Q4mcq2 marks
A valuation Balance Sheet is prepared by a :
a.
Joint Stock Company
b.
Banking Company
c.
Life Insurance Company
Correct Answer
d.
General Insurance Company
Step-by-Step AI Explanation
Verified Method
A valuation balance sheet is used in life insurance business, where liabilities and assets are valued on actuarial principles. The printed key marks Life Insurance Company.
Q5mcq1 mark
In the case of liquidation of a company, preferential creditors are shown in the statement of affairs under:
a.
List D
b.
List C
Correct Answer
c.
List B
d.
List A
Step-by-Step AI Explanation
Verified Method
Preferential creditors are classified under List C in the statement of affairs.
Q5mcq2 marks
Which model is suitable for the firms which have uncertain cash flows ?
a.
William J. Baumol's EOQ Model
b.
Miller - Orr Cash Management Model
Correct Answer
c.
M. M. Model
d.
Thomson Model
Step-by-Step AI Explanation
Verified Method
The Miller-Orr model is designed for firms with uncertain, fluctuating cash flows because it uses upper and lower control limits for cash balances. The paper marks it as the correct alternative.
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Match the following:
(a) Abraham H. Maslow
(b) William Ouch
(c) Hezberg
(d) McGregor
(i) X and Y Theory
(ii) Two Factor Theory
(iii) Z Theory
(iv) Need Hierarchy Theory
a.
(a)-(i), (b)-(iii), (c)-(ii), (d)-(iv)
b.
(a)-(iv), (b)-(i), (c)-(ii), (d)-(iii)
c.
(a)-(iv), (b)-(iii), (c)-(ii), (d)-(i)
d.
(a)-(iii), (b)-(ii), (c)-(iv), (d)-(i)
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Assertion (A): A grievance is a specific formal dissatisfaction expressed through an identified procedure.
Reasoning (R): Poor physical conditions of work place.
a.
(A) is true ; (R) is false
b.
Both (A) and (R) are true
c.
(A) is false ; (R) is true
d.
Both (A) and (R) are false
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Match the following:
(a) Autocratic Leader
(b) Laissez Faire Leader
(c) Functional Leader
(d) Paternalistic Leader
(i) Does not exercise the formal authority of a leader.
(ii) Does not offer intellectual help.
(iii) Subordinates are under constant threat of disciplinary action.
(iv) Specialistic in a particular field of activity.
a.
(a)-(ii), (b)-(iii), (c)-(i), (d)-(iv)
b.
(a)-(iv), (b)-(i), (c)-(iii), (d)-(ii)
c.
(a)-(iv), (b)-(ii), (c)-(i), (d)-(iii)
d.
(a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)
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________ refers to the permanent financing of the firm represented primarily by long-term debt and shareholders funds but excluding all short-term credit.
a.
Capital Structure
b.
Financial Structure
c.
Trading on Equity
d.
Leverages
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Which of the following pairs of GATT rounds and the associated years are correctly matched?
(i) First Round - 1948
(ii) Kennedy Round - 1964-'67
(iii) Tokyo Round - 1973-'79
Select the correct answer using the codes given below:
a.
(i), (ii) and (iii)
b.
(i) and (ii)
c.
(ii) and (iii)
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The simultaneous buying and selling of foreign currencies with the intention of making profits from the difference between the exchange rates prevailing at the same time in the different foreign exchange markets is:
a.
Arbitrage
b.
Forward transaction
c.
Forward market
d.
Arbitrage, Forward transaction and Forward market
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The local firm obtains licence from foreign firm to use the latter's patents, trade-marks, copyright, technology, knowhow or marketing skills in consideration for fee is called:
a.
Franchising
b.
Joint-venture
c.
Wholly owned subsidiaries
d.
Contract manufacturing
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The purpose of the research should be clearly defined and common concepts be used.
b.
The procedural design of the research should be carefully planned to yield results that are as objective as possible.
c.
The researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings.
d.
The purpose of the research should be clearly defined and common concepts be used, the procedural design of the research should be carefully planned to yield results that are as objective as possible and the researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings.
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If an average of 8 ships of 10 arrive safely at a port, find the standard deviation of the number of ships arriving safely out of a total of 1,600 ships:
a.
16
b.
8
c.
18
d.
200
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The assigned role of principal institution for co-ordinating, in conformity with the national policies, the activities of the institutions engaged in financing, promoting or developing industry is termed as:
a.
IFCI
b.
ICICI
c.
IDBI
d.
SFCs
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If we type the first few letters in a cell and if a similar value exists in the same column, Excel suggests the existing value. This feature is called:
a.
Auto fill
b.
Fill series
c.
Auto complete
d.
Series complete
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The maximum amount on which income tax is not chargeable for the assessment year 2018-19 in case of a resident individual less than 60 years of old is:
a.
Rs. 2,00,000
b.
Rs. 2,50,000
c.
Rs. 3,00,000
d.
Rs. 2,40,000
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the sale and purchase of Silver related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions
b.
the sale and purchase of SDR related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions
c.
the sale and purchase of Gold related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions
d.
the sale and purchase of Silver related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions, the sale and purchase of SDR related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions and the sale and purchase of Gold related securities and other securities, bills and bonds of Government by the RBI from and to the public and financial institutions
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The Unit Trust of India (UTI) was established as a public sector institution to collect the savings of the people and make them available for productive ventures:
a.
in 1963
b.
in 1964
c.
in 1965
d.
in 1966
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Do not enter a value in the foreign key field of a child table if that value does not exist in the primary key of the parent table
b.
Do not enter a value in the primary key field of a child table if that value does not exist in the primary key of the parent table
c.
Do not enter a value in the foreign key field of a parent table if that value does not exists in the primary key of the child table
d.
Do not enter a value in the foreign key field of a child table if that value does not exist in the primary key of the parent table, do not enter a value in the primary key field of a child table if that value does not exist in the primary key of the parent table and do not enter a value in the foreign key field of a parent table if that value does not exists in the primary key of the child table
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