ACCOUNTANCY- PAGE 2
1:-When shares are forfeited this share capital is debited by
A:-Calls in arrears B:-Called up value C:-Paid up value D:-None of these
Ans: B
2:-AS-26 is related with
A:-Tangible assets B:-Fixed assets C:-Intangible assets D:-Current assets
Ans: C
3:-Under departmental accounting General expenses which cannot be apportioned appear in
A:-Balance sheet B:-General P/L account C:-Columnar trading account D:-None of these
Ans: B
4:-If goods are invoiced to branch at 25% on cost price, it will be at __________ at on selling price.
A:-20% B:-25% C:-33 1/3 D:-50%
Ans: A
5:-Goods sent by Head Office to Branch is credited in Head Office books to ___________ account.
A:-Goods in transit B:-Branch Account C:-Goods sent to Branch D:-None of these
Ans: C
6:-A fund flow statement is prepared to disclose
A:-the result of operation B:-the changes in financial position C:-the financial position D:-none of these
Ans: B
7:-Excess of minimum rent over royalties is called
A:-short workings
B:-dead rent
C:-royalties
D:-none of these
Ans: A
8:-Regional rural banks are sponsored by
A:-IDBI B:-RBI C:-SEBI D:-None of these
Ans: A
9:-_________ cheque is a dead cheque.
A:-Multilated cheque B:-Crossed cheque C:-Stale cheque D:-Post dated cheque
Ans: C
10:-RTGS stands for
A:-Real Time General Settlement B:-Real Time Gross Settlement
C:-Real Time Gross Scheme D:-None of the above
Ans: B
11:-EFT was introduced by the RBI in
A:-1993 B:-1994 C:-1995 D:-1996
Ans: D
12:-The principle of subrogation is introduced to protect the interest of
A:-insured B:-agents C:-insurer D:-all of the above
Ans: C
13:-IRDA Act was passed in
A:-1938 B:-1956 C:-1999 D:-2001
Ans: C
14:-Which among the following is specifically set up to boost overall rural development in India?
A:-RBI B:-IDBI C:-NABARD D:-SEBI
Ans: C
15:-Note issue is the major function of
A:-Central Bank of India B:-Central Bank C:-Imperial Bank D:-None of these
Ans: B
16:-Which of the following is NOT money market instrument?
A:-Treasury Bills B:-Commercial Paper C:-Certificate of Deposit D:-FD receipt
Ans: D
17:-The Sensex has
A:-25 stocks B:-30 stocks
C:-50 stocks D:-20 stocks
Ans: B
18:-Venture capital funds are regulated by
A:-SEBI B:-RBI C:-IDBI D:-SBI
Ans: A
19:-Mutual funds invests in
A:-Stock only B:-Bonds only C:-Stocks and bonds D:-Stocks, bonds and cash instruments
Ans: D
20:-The NSE - Nifty's base period is
A:-1992 B:-1993 C:-1994 D:-1995
Ans: D
21:-_________ keyword allows a child class to inherit properties from its parent class in Java.
A:-Inherit B:-Extends C:-(1) and (2) D:-None
Ans: B
22:-Which memory allocation strategy places a program in the largest available partition in the main memory?
A:-Worst fit B:-Last fit C:-First fit D:-Best fit
Ans: A
23:-Which of the following has the lowest access time?
A:-Cache B:-RAM C:-Magnetic disc D:-Registers
Ans: D
24:-________ operator in C can only be used with integers.
A:-Addition B:-Modulus C:-Sizeof D:-Conditional
Ans: B
25:-URL stands for ________.
A:-Uniform Registry Locator B:-Universal Resource List C:-Uniform Resource Locator D:-Universal Registry List
Ans: C
26:-____________ is the diagnostic testing sequence that BIOS runs to determine if the hardware components are working properly when the computer is turned on.
A:-DOT B:-CMOS C:-POST D:-PING
Ans: C
27:-A quadbit is also known as __________.
A:-Nibble B:-Bit C:-Byte D:-Petabyte
Ans: A
28:-The output of a lexical analyzer is __________.
A:-Program B:-Machine code C:-Object code D:-Stream of tokens
Ans: D
29:-The amount of vertical space between lines of text in a document is called _________.
A:-Word spacing B:-Line spacing C:-Multi-line D:-Single line
Ans: B
30:-The communication between computers in network is governed by a set of rules and regulations known as _______________. A:-Protocols B:-Standard rules C:-System rules D:-None of the above
Ans: A
31:-The SQL CREATE TABLE command is a ____________.
A:-DCL command B:-TCL command C:-DML command D:-DDL command
Ans: D
32:-The ____________ file system is always mounted.
A:-Directory B:-Root C:-CatchFS D:-None of the above
Ans: B
33:-____________ were designed to be a reliable mechanism for websites to remember stateful information or to record the user's browsing activity.
A:-Browsers B:-Cookies C:-Pug-ins D:-Scripts
Ans: B
34:-A ____________ is someone who seeks to beach defenses and exploit weaknesses in a computer system or network.
A:-Blocker B:-Robber C:-Hacker D:-Scripts
Ans: C
35:-A _________ is a field or collection of fields in a relational database table that provides a link between data in two tables.
A:-Primary key B:-Master key C:-Collection key D:-Foreign key
Ans: D
36:-The base of an octal number system is ___________.
A:-8 B:-16 C:-2 D:-10
Ans: A
37:-The '#' symbol at the beginning of a statement in a C/C++ program indicates that it is a _____________.
A:-Comment B:-Object directive C:-Preprocessor directive D:-String
Ans: C
38:-Hardware/Software designed to guard against unauthorized access to a computer network is known as ___________.
A:-Netwall B:-Wallblock C:-Bouncer D:-Firewall
Ans: D
39:-A row in a relational table is also referred to as __________.
A:-Value B:-Field C:-Tuple D:-Attribute
Ans: C
40:-The program that converts high level code to low level code is called ____________.
A:-Processor B:-Compiler C:-Emulator D:-Converter
Ans: B
41:-When shares are forfeited this share capital is debited by
A:-Calls in arrears B:-Called up value C:-Paid up value D:-None of these
Ans: B
42:-AS-26 is related with
A:-Tangible assets B:-Fixed assets C:-Intangible assets D:-Current assets
Ans: C
43:-Under departmental accounting General expenses which cannot be apportioned appear in
A:-Balance sheet B:-General P/L account C:-Columnar trading account D:-None of these
Ans: B
44:-If goods are invoiced to branch at 25% on cost price, it will be at __________ at on selling price.
A:-20% B:-25% C:-33 1/3 D:-50%
Ans: A
45:-Goods sent by Head Office to Branch is credited in Head Office books to ___________ account.
A:-Goods in transit B:-Branch Account C:-Goods sent to Branch D:-None of these
Ans: C
46:-A fund flow statement is prepared to disclose
A:-the result of operation B:-the changes in financial position C:-the financial position D:-none of these
Ans: B
47:-Excess of minimum rent over royalties is called
A:-short workings B:-dead rent C:-royalties D:-none of these
Ans: A
48:-Regional rural banks are sponsored by
A:-IDBI B:-RBI C:-SEBI D:-None of these
Ans: D
49:-_________ cheque is a dead cheque.
A:-Multilated cheque B:-Crossed cheque C:-Stale cheque D:-Post dated cheque
Ans: C
50:-RTGS stands for
A:-Real Time General Settlement B:-Real Time Gross Settlement C:-Real Time Gross Scheme D:-None of the above
Ans: B
A:-Calls in arrears B:-Called up value C:-Paid up value D:-None of these
Ans: B
2:-AS-26 is related with
A:-Tangible assets B:-Fixed assets C:-Intangible assets D:-Current assets
Ans: C
3:-Under departmental accounting General expenses which cannot be apportioned appear in
A:-Balance sheet B:-General P/L account C:-Columnar trading account D:-None of these
Ans: B
4:-If goods are invoiced to branch at 25% on cost price, it will be at __________ at on selling price.
A:-20% B:-25% C:-33 1/3 D:-50%
Ans: A
5:-Goods sent by Head Office to Branch is credited in Head Office books to ___________ account.
A:-Goods in transit B:-Branch Account C:-Goods sent to Branch D:-None of these
Ans: C
6:-A fund flow statement is prepared to disclose
A:-the result of operation B:-the changes in financial position C:-the financial position D:-none of these
Ans: B
7:-Excess of minimum rent over royalties is called
A:-short workings
B:-dead rent
C:-royalties
D:-none of these
Ans: A
8:-Regional rural banks are sponsored by
A:-IDBI B:-RBI C:-SEBI D:-None of these
Ans: A
9:-_________ cheque is a dead cheque.
A:-Multilated cheque B:-Crossed cheque C:-Stale cheque D:-Post dated cheque
Ans: C
10:-RTGS stands for
A:-Real Time General Settlement B:-Real Time Gross Settlement
C:-Real Time Gross Scheme D:-None of the above
Ans: B
11:-EFT was introduced by the RBI in
A:-1993 B:-1994 C:-1995 D:-1996
Ans: D
12:-The principle of subrogation is introduced to protect the interest of
A:-insured B:-agents C:-insurer D:-all of the above
Ans: C
13:-IRDA Act was passed in
A:-1938 B:-1956 C:-1999 D:-2001
Ans: C
14:-Which among the following is specifically set up to boost overall rural development in India?
A:-RBI B:-IDBI C:-NABARD D:-SEBI
Ans: C
15:-Note issue is the major function of
A:-Central Bank of India B:-Central Bank C:-Imperial Bank D:-None of these
Ans: B
16:-Which of the following is NOT money market instrument?
A:-Treasury Bills B:-Commercial Paper C:-Certificate of Deposit D:-FD receipt
Ans: D
17:-The Sensex has
A:-25 stocks B:-30 stocks
C:-50 stocks D:-20 stocks
Ans: B
18:-Venture capital funds are regulated by
A:-SEBI B:-RBI C:-IDBI D:-SBI
Ans: A
19:-Mutual funds invests in
A:-Stock only B:-Bonds only C:-Stocks and bonds D:-Stocks, bonds and cash instruments
Ans: D
20:-The NSE - Nifty's base period is
A:-1992 B:-1993 C:-1994 D:-1995
Ans: D
21:-_________ keyword allows a child class to inherit properties from its parent class in Java.
A:-Inherit B:-Extends C:-(1) and (2) D:-None
Ans: B
22:-Which memory allocation strategy places a program in the largest available partition in the main memory?
A:-Worst fit B:-Last fit C:-First fit D:-Best fit
Ans: A
23:-Which of the following has the lowest access time?
A:-Cache B:-RAM C:-Magnetic disc D:-Registers
Ans: D
24:-________ operator in C can only be used with integers.
A:-Addition B:-Modulus C:-Sizeof D:-Conditional
Ans: B
25:-URL stands for ________.
A:-Uniform Registry Locator B:-Universal Resource List C:-Uniform Resource Locator D:-Universal Registry List
Ans: C
26:-____________ is the diagnostic testing sequence that BIOS runs to determine if the hardware components are working properly when the computer is turned on.
A:-DOT B:-CMOS C:-POST D:-PING
Ans: C
27:-A quadbit is also known as __________.
A:-Nibble B:-Bit C:-Byte D:-Petabyte
Ans: A
28:-The output of a lexical analyzer is __________.
A:-Program B:-Machine code C:-Object code D:-Stream of tokens
Ans: D
29:-The amount of vertical space between lines of text in a document is called _________.
A:-Word spacing B:-Line spacing C:-Multi-line D:-Single line
Ans: B
30:-The communication between computers in network is governed by a set of rules and regulations known as _______________. A:-Protocols B:-Standard rules C:-System rules D:-None of the above
Ans: A
31:-The SQL CREATE TABLE command is a ____________.
A:-DCL command B:-TCL command C:-DML command D:-DDL command
Ans: D
32:-The ____________ file system is always mounted.
A:-Directory B:-Root C:-CatchFS D:-None of the above
Ans: B
33:-____________ were designed to be a reliable mechanism for websites to remember stateful information or to record the user's browsing activity.
A:-Browsers B:-Cookies C:-Pug-ins D:-Scripts
Ans: B
34:-A ____________ is someone who seeks to beach defenses and exploit weaknesses in a computer system or network.
A:-Blocker B:-Robber C:-Hacker D:-Scripts
Ans: C
35:-A _________ is a field or collection of fields in a relational database table that provides a link between data in two tables.
A:-Primary key B:-Master key C:-Collection key D:-Foreign key
Ans: D
36:-The base of an octal number system is ___________.
A:-8 B:-16 C:-2 D:-10
Ans: A
37:-The '#' symbol at the beginning of a statement in a C/C++ program indicates that it is a _____________.
A:-Comment B:-Object directive C:-Preprocessor directive D:-String
Ans: C
38:-Hardware/Software designed to guard against unauthorized access to a computer network is known as ___________.
A:-Netwall B:-Wallblock C:-Bouncer D:-Firewall
Ans: D
39:-A row in a relational table is also referred to as __________.
A:-Value B:-Field C:-Tuple D:-Attribute
Ans: C
40:-The program that converts high level code to low level code is called ____________.
A:-Processor B:-Compiler C:-Emulator D:-Converter
Ans: B
41:-When shares are forfeited this share capital is debited by
A:-Calls in arrears B:-Called up value C:-Paid up value D:-None of these
Ans: B
42:-AS-26 is related with
A:-Tangible assets B:-Fixed assets C:-Intangible assets D:-Current assets
Ans: C
43:-Under departmental accounting General expenses which cannot be apportioned appear in
A:-Balance sheet B:-General P/L account C:-Columnar trading account D:-None of these
Ans: B
44:-If goods are invoiced to branch at 25% on cost price, it will be at __________ at on selling price.
A:-20% B:-25% C:-33 1/3 D:-50%
Ans: A
45:-Goods sent by Head Office to Branch is credited in Head Office books to ___________ account.
A:-Goods in transit B:-Branch Account C:-Goods sent to Branch D:-None of these
Ans: C
46:-A fund flow statement is prepared to disclose
A:-the result of operation B:-the changes in financial position C:-the financial position D:-none of these
Ans: B
47:-Excess of minimum rent over royalties is called
A:-short workings B:-dead rent C:-royalties D:-none of these
Ans: A
48:-Regional rural banks are sponsored by
A:-IDBI B:-RBI C:-SEBI D:-None of these
Ans: D
49:-_________ cheque is a dead cheque.
A:-Multilated cheque B:-Crossed cheque C:-Stale cheque D:-Post dated cheque
Ans: C
50:-RTGS stands for
A:-Real Time General Settlement B:-Real Time Gross Settlement C:-Real Time Gross Scheme D:-None of the above
Ans: B
51:-EFT was introduced by the RBI in
A:-1993 B:-1994 C:-1995 D:-1996
Ans: D
52:-The principle of subrogation is introduced to protect the interest of
A:-insured B:-agents C:-insurer D:-all of the above
Ans: C
53:-IRDA Act was passed in
A:-1938 B:-1956 C:-1999 D:-2001
Ans: C
54:-Which among the following is specifically set up to boost overall rural development in India?
A:-RBI B:-IDBI C:-NABARD D:-SEBI
Ans: C
55:-Note issue is the major function of
A:-Central Bank of India B:-Central Bank C:-Imperial Bank D:-None of these
Ans: B
56:-Which of the following is NOT money market instrument?
A:-Treasury Bills B:-Commercial Paper C:-Certificate of Deposit D:-FD receipt
Ans: D
57:-The Sensex has
A:-25 stocks B:-30 stocks C:-50 stocks D:-20 stocks
Ans: B
58:-Venture capital funds are regulated by
A:-SEBI B:-RBI C:-IDBI D:-SBI
Ans: A
59:-Mutual funds invests in
A:-Stock only B:-Bonds only C:-Stocks and bonds D:-Stocks, bonds and cash instruments
Ans: D
60:-The NSE - Nifty's base period is
A:-1992 B:-1993 C:-1994 D:-1995
Ans: D
61:-The first stock exchange in India to have a screen based automated ring less trading screen
A:-IDBI B:-UTI C:-OTCEI D:-IFCI
Ans: C
62:-The market for a very short period loan is called
A:-Money market B:-Collateral loan market C:-Call money market D:-Bill market
Ans: C
63:-The panel at the top of MS-Word document is called
A:-Menu B:-Ribbon C:-Programme D:-Taskbar
Ans: A
64:-The combination of a column coordinate and a row co-ordinate make up a
A:-column address B:-cell address C:-row address D:-none of these
Ans: B
65:-DBMS means
A:-Data Base Maintenance System B:-Data Base Module System C:-Data Base Monitoring System D:-None of these
Ans: D
66:-What is used to retrieve specific data from a database and to answer s about the date in MS ACCESS?
A:-Tables B:-Forms C:-Queries D:-Reports
Ans: C
67:-Which one is used to transfer a webpage to user's computer?
A:-HTTP B:-FTP C:-XML D:-HLL
Ans: B
68:-The altering of data so that it is not usable unless the changes are undone is
A:-Bio-metrics B:-Encryption C:-Ergonomics D:-Compression
Ans: B
69:-VIRUS stands for
A:-Very Intelligent Result Until Source B:-Vital Information Resources Under Seize
C:-Viral Important Record User Searched D:-Very Interchanged Resource Under Search
Ans: B
70:-Which short cut key is used for calculator in Tally?
A:-CTRL + P B:-CTRL + C C:-CTRL + N D:-CTRL + A
Ans: C
71:-__________ is that which meets the tests of public interest, commonly accepted customs and standards of conduct.
A:-Propriety audit B:-Operational audit C:-Efficiency audit D:-Special audit
Ans: A
72:-Wages tribunals may order cost audit for a certain industrial unit to settle industrial disputes relating to higher wages, bonus etc. this is a type of External Audit of the form ________.
A:-Cost audit on behalf of the government B:-Cost audit on behalf of the customers or consumers
C:-Cost audit on behalf of the trade associations D:-None of the above
Ans: D
73:-The auditor _____
A:-Should distribute the audit work among his subordinates
B:-Should assign difficult and technical works to senior clerks and easy and simple jobs to junior clerks
C:-Should not distribute his work among his subordinates as it is confidential
D:-Both (1) and (2) is true
Ans: D
74:-A firm can reduce the needed cash balance if it can move the cash disbursement and cash collections into the same cash flow cycle. This is known as __________.
A:-Accelerating Cash Receipts B:-Synchronizing Cash Flows C:-Delaying Disbursements D:-All of the above
Ans: B
75:-_________ contains a copy of the audit program, audit tests, performed, a copy of trial balance, a copy of the annual final accounts. A:-Permanent file B:-Current file C:-None of the above D:-Both (1) and (2)
Ans: B
76:-____________ is a built-in part of the accounting system under which the work of one employee is automatically checked by another employee.
A:-Internal Audit B:-Internal Check
C:-Internal Control D:-External Audit
Ans: B
77:-__________ is a technical term which refers to the inspection by the auditor of documentary evidence supporting and substantiating a transaction.
A:-Vouching B:-Checking C:-Auditing D:-None of the above
Ans: A
78:-Misfeasance is a ___________ of a Company Auditor.
A:-Civil Liability B:-Criminal Liability C:-Statutory Duty D:-Contractual Duty
Ans: A
79:-Among the following statements with regard to redeemable preference shares __________ is not true.
A:-The articles of association of the company should provide for the redemption of these shares
B:-They can be redeemed only out of profits of the company which would be otherwise available for dividend
C:-Fully and partly paid shares can be redeemed
D:-Any premium paid on the redemption must be paid either out of the company's share premium account or out of the profits of the company
Ans: C
80:-When an auditor is satisfied with the affairs of the company and the fairness of the balance sheet and profit and loss account of the concern, he gives a _________ report.
A:-Unqualified Report B:-Clean Report C:-Qualified report D:-Both (1) or (2)
Ans: D
81:-Municipal taxes in the following cases are deductible from the gross annual value of a property under sec. 23
A:-Municipal taxes paid during the year for the current year B:-Municipal taxes paid during the year for the previous year C:-Municipal taxes paid during the year for the future period D:-All of the above
Ans: D
82:-When an assessee uses an asset which was earlier used for scientific research related to business, the cost of asset will be equal to A:-The amount left after reducing the cost of research
B:-The amount left after reducing the amount allowed as deduction for depreciation earlier
C:-The amount of cost including the installation cost
D:-None of the above
Ans: B
83:-The transfer of one or more undertakings or assets for a lump-sum consideration without valuing the assets and liabilities individually is known as __________.
A:-Slump Sale B:-Pooling Purchase C:-Bulk Sale D:-Both (1) and (3)
Ans: A
84:-Interest on income by way of winnings from horse race is tax deducted at source @ 30% in the following case.
A:-The person is a resident in India B:-The person is not a resident in India
C:-Any other person D:-All of the above
Ans: D
85:-By virtue of sections 60 to 65 of the income tax act, clubbing of income is not done under the following situation.
A:-Income from assets transferred with a condition of revocation B:-Income of spouse
C:-Income of daughter in law from an asset transferred to her without consideration D:-Income of physically handicapped minor Ans: D
86:-Short term capital loss can be set off against __________.
A:-Short term Capital gains B:-Long term Capital gains C:-Short term and Long term Capital gains D:-None of the above
Ans: C
87:-The following deductions are made to calculate the Gross Total Income of an assessee
A:-Sum paid to LIC under annuity plan
B:-Subscription to equity shares of a public company which is an eligible issue of capital approved by the Board
C:-Brought forward losses
D:-Both (1) and (2)
Ans: C
88:-Donations to the following cases are not fully deductible
A:-National Defence Fund B:-ZilaSakshartaSamiti C:-Swatch Bharat Kosh D:-Prime Minister's Drought Relief Fund
Ans: D
89:-The following income is fully considered as agricultural income _________.
A:-Growing and manufacturing of tea B:-Growing and manufacturing or rubber
C:-Sale of green tea leaves D:-Sale of rubber processed from own rubber plants
Ans: C
90:-The following statement is false
A:-Employer's contribution to the Recognized Provident Fund up to 12% of salary is not taxable
B:-Education Allowance is exempt up to Rs. 100 per child, maximum of two children
C:-Income on units of Mutual Fund is exempt up to 50%
D:-Donation to National Foundation for Communal Harmony is eligible for 100% deduction without limit
Ans: C
91:-Imputed costs are _______.
A:-Cost of replacing an old asset B:-Cost which can be eliminated
C:-Cost which is a past cost D:-Cost which is hypothetical
Ans: D
92:-The following are tools for implementing Kaizen Costing I. Stratification II. Pareto chart III. Cost Driver IV. All of the above
A:-I and III B:-II and III C:-I and II D:-IV
Ans: C
93:-Out of the following support activities of a company, the following can be associated with specific primary activities __________. I. Procurement II. Human Resource Management III. Firm Infrastructure IV. Technology development
A:-I, II and III B:-I, II and IV C:-II, III and IV D:-I, II, III and IV
Ans: B
94:-__________ is not a characteristic of Process costing.
A:-Production is continuous B:-Products are not distinguishable in processing stage
C:-Production is not for stock D:-Cost is ascertained at the end of cost period
Ans: C
95:-In the coke industry, the Benzol produced is a
A:-By product B:-Main product C:-Joint product D:-None of the above
Ans: A
96:-__________ can be attained under the most favourable conditions.
A:-Basic standards B:-Current standards C:-Expected standards D:-Ideal Standards
Ans: D
97:-Find labour efficiency variance. Std. hours - 3000 Std. rate of wages Rs. 200 Actual rate of wages Rs. 250 Actual hours - 2000 A:-2,00,000 B:-1,00,000 C:-(-) 1,00,000 D:-3,00,000
Ans: A
98:-Under the following plan, the worker gets wages for actual hours worked and a bonus for the time saved.
A:-Emerson's efficiency plan B:-Halsey-Weir plan C:-Rowan premium plan D:-Taylor's differential piece rate system
Ans: C
99:-__________ determines the ratio in which the total long term capital is contributed by different sources.
A:-Capitalisation B:-Capital structure C:-Financial Structure D:-All of the above
Ans: B
100:-__________ explains business risk.
A:-Operating Leverage B:-Financial Leverage
C:-Combined Leverage D:-All of the above
Ans: A
A:-1993 B:-1994 C:-1995 D:-1996
Ans: D
52:-The principle of subrogation is introduced to protect the interest of
A:-insured B:-agents C:-insurer D:-all of the above
Ans: C
53:-IRDA Act was passed in
A:-1938 B:-1956 C:-1999 D:-2001
Ans: C
54:-Which among the following is specifically set up to boost overall rural development in India?
A:-RBI B:-IDBI C:-NABARD D:-SEBI
Ans: C
55:-Note issue is the major function of
A:-Central Bank of India B:-Central Bank C:-Imperial Bank D:-None of these
Ans: B
56:-Which of the following is NOT money market instrument?
A:-Treasury Bills B:-Commercial Paper C:-Certificate of Deposit D:-FD receipt
Ans: D
57:-The Sensex has
A:-25 stocks B:-30 stocks C:-50 stocks D:-20 stocks
Ans: B
58:-Venture capital funds are regulated by
A:-SEBI B:-RBI C:-IDBI D:-SBI
Ans: A
59:-Mutual funds invests in
A:-Stock only B:-Bonds only C:-Stocks and bonds D:-Stocks, bonds and cash instruments
Ans: D
60:-The NSE - Nifty's base period is
A:-1992 B:-1993 C:-1994 D:-1995
Ans: D
61:-The first stock exchange in India to have a screen based automated ring less trading screen
A:-IDBI B:-UTI C:-OTCEI D:-IFCI
Ans: C
62:-The market for a very short period loan is called
A:-Money market B:-Collateral loan market C:-Call money market D:-Bill market
Ans: C
63:-The panel at the top of MS-Word document is called
A:-Menu B:-Ribbon C:-Programme D:-Taskbar
Ans: A
64:-The combination of a column coordinate and a row co-ordinate make up a
A:-column address B:-cell address C:-row address D:-none of these
Ans: B
65:-DBMS means
A:-Data Base Maintenance System B:-Data Base Module System C:-Data Base Monitoring System D:-None of these
Ans: D
66:-What is used to retrieve specific data from a database and to answer s about the date in MS ACCESS?
A:-Tables B:-Forms C:-Queries D:-Reports
Ans: C
67:-Which one is used to transfer a webpage to user's computer?
A:-HTTP B:-FTP C:-XML D:-HLL
Ans: B
68:-The altering of data so that it is not usable unless the changes are undone is
A:-Bio-metrics B:-Encryption C:-Ergonomics D:-Compression
Ans: B
69:-VIRUS stands for
A:-Very Intelligent Result Until Source B:-Vital Information Resources Under Seize
C:-Viral Important Record User Searched D:-Very Interchanged Resource Under Search
Ans: B
70:-Which short cut key is used for calculator in Tally?
A:-CTRL + P B:-CTRL + C C:-CTRL + N D:-CTRL + A
Ans: C
71:-__________ is that which meets the tests of public interest, commonly accepted customs and standards of conduct.
A:-Propriety audit B:-Operational audit C:-Efficiency audit D:-Special audit
Ans: A
72:-Wages tribunals may order cost audit for a certain industrial unit to settle industrial disputes relating to higher wages, bonus etc. this is a type of External Audit of the form ________.
A:-Cost audit on behalf of the government B:-Cost audit on behalf of the customers or consumers
C:-Cost audit on behalf of the trade associations D:-None of the above
Ans: D
73:-The auditor _____
A:-Should distribute the audit work among his subordinates
B:-Should assign difficult and technical works to senior clerks and easy and simple jobs to junior clerks
C:-Should not distribute his work among his subordinates as it is confidential
D:-Both (1) and (2) is true
Ans: D
74:-A firm can reduce the needed cash balance if it can move the cash disbursement and cash collections into the same cash flow cycle. This is known as __________.
A:-Accelerating Cash Receipts B:-Synchronizing Cash Flows C:-Delaying Disbursements D:-All of the above
Ans: B
75:-_________ contains a copy of the audit program, audit tests, performed, a copy of trial balance, a copy of the annual final accounts. A:-Permanent file B:-Current file C:-None of the above D:-Both (1) and (2)
Ans: B
76:-____________ is a built-in part of the accounting system under which the work of one employee is automatically checked by another employee.
A:-Internal Audit B:-Internal Check
C:-Internal Control D:-External Audit
Ans: B
77:-__________ is a technical term which refers to the inspection by the auditor of documentary evidence supporting and substantiating a transaction.
A:-Vouching B:-Checking C:-Auditing D:-None of the above
Ans: A
78:-Misfeasance is a ___________ of a Company Auditor.
A:-Civil Liability B:-Criminal Liability C:-Statutory Duty D:-Contractual Duty
Ans: A
79:-Among the following statements with regard to redeemable preference shares __________ is not true.
A:-The articles of association of the company should provide for the redemption of these shares
B:-They can be redeemed only out of profits of the company which would be otherwise available for dividend
C:-Fully and partly paid shares can be redeemed
D:-Any premium paid on the redemption must be paid either out of the company's share premium account or out of the profits of the company
Ans: C
80:-When an auditor is satisfied with the affairs of the company and the fairness of the balance sheet and profit and loss account of the concern, he gives a _________ report.
A:-Unqualified Report B:-Clean Report C:-Qualified report D:-Both (1) or (2)
Ans: D
81:-Municipal taxes in the following cases are deductible from the gross annual value of a property under sec. 23
A:-Municipal taxes paid during the year for the current year B:-Municipal taxes paid during the year for the previous year C:-Municipal taxes paid during the year for the future period D:-All of the above
Ans: D
82:-When an assessee uses an asset which was earlier used for scientific research related to business, the cost of asset will be equal to A:-The amount left after reducing the cost of research
B:-The amount left after reducing the amount allowed as deduction for depreciation earlier
C:-The amount of cost including the installation cost
D:-None of the above
Ans: B
83:-The transfer of one or more undertakings or assets for a lump-sum consideration without valuing the assets and liabilities individually is known as __________.
A:-Slump Sale B:-Pooling Purchase C:-Bulk Sale D:-Both (1) and (3)
Ans: A
84:-Interest on income by way of winnings from horse race is tax deducted at source @ 30% in the following case.
A:-The person is a resident in India B:-The person is not a resident in India
C:-Any other person D:-All of the above
Ans: D
85:-By virtue of sections 60 to 65 of the income tax act, clubbing of income is not done under the following situation.
A:-Income from assets transferred with a condition of revocation B:-Income of spouse
C:-Income of daughter in law from an asset transferred to her without consideration D:-Income of physically handicapped minor Ans: D
86:-Short term capital loss can be set off against __________.
A:-Short term Capital gains B:-Long term Capital gains C:-Short term and Long term Capital gains D:-None of the above
Ans: C
87:-The following deductions are made to calculate the Gross Total Income of an assessee
A:-Sum paid to LIC under annuity plan
B:-Subscription to equity shares of a public company which is an eligible issue of capital approved by the Board
C:-Brought forward losses
D:-Both (1) and (2)
Ans: C
88:-Donations to the following cases are not fully deductible
A:-National Defence Fund B:-ZilaSakshartaSamiti C:-Swatch Bharat Kosh D:-Prime Minister's Drought Relief Fund
Ans: D
89:-The following income is fully considered as agricultural income _________.
A:-Growing and manufacturing of tea B:-Growing and manufacturing or rubber
C:-Sale of green tea leaves D:-Sale of rubber processed from own rubber plants
Ans: C
90:-The following statement is false
A:-Employer's contribution to the Recognized Provident Fund up to 12% of salary is not taxable
B:-Education Allowance is exempt up to Rs. 100 per child, maximum of two children
C:-Income on units of Mutual Fund is exempt up to 50%
D:-Donation to National Foundation for Communal Harmony is eligible for 100% deduction without limit
Ans: C
91:-Imputed costs are _______.
A:-Cost of replacing an old asset B:-Cost which can be eliminated
C:-Cost which is a past cost D:-Cost which is hypothetical
Ans: D
92:-The following are tools for implementing Kaizen Costing I. Stratification II. Pareto chart III. Cost Driver IV. All of the above
A:-I and III B:-II and III C:-I and II D:-IV
Ans: C
93:-Out of the following support activities of a company, the following can be associated with specific primary activities __________. I. Procurement II. Human Resource Management III. Firm Infrastructure IV. Technology development
A:-I, II and III B:-I, II and IV C:-II, III and IV D:-I, II, III and IV
Ans: B
94:-__________ is not a characteristic of Process costing.
A:-Production is continuous B:-Products are not distinguishable in processing stage
C:-Production is not for stock D:-Cost is ascertained at the end of cost period
Ans: C
95:-In the coke industry, the Benzol produced is a
A:-By product B:-Main product C:-Joint product D:-None of the above
Ans: A
96:-__________ can be attained under the most favourable conditions.
A:-Basic standards B:-Current standards C:-Expected standards D:-Ideal Standards
Ans: D
97:-Find labour efficiency variance. Std. hours - 3000 Std. rate of wages Rs. 200 Actual rate of wages Rs. 250 Actual hours - 2000 A:-2,00,000 B:-1,00,000 C:-(-) 1,00,000 D:-3,00,000
Ans: A
98:-Under the following plan, the worker gets wages for actual hours worked and a bonus for the time saved.
A:-Emerson's efficiency plan B:-Halsey-Weir plan C:-Rowan premium plan D:-Taylor's differential piece rate system
Ans: C
99:-__________ determines the ratio in which the total long term capital is contributed by different sources.
A:-Capitalisation B:-Capital structure C:-Financial Structure D:-All of the above
Ans: B
100:-__________ explains business risk.
A:-Operating Leverage B:-Financial Leverage
C:-Combined Leverage D:-All of the above
Ans: A