Previous Exams

Accountant/Jr.Accountant/Accounts Asst etc. Companies/Corporations/Boards -2016

 

Time Remaining :
1. Zero Based Budgeting is related to whom of the following?
Philip Kotler

Ronald Reagan

Jimmy Carter

Gerald Ford
2. In costing,the sum of direct material direct labour and direct over heads are known as:
Basic cost

Cost of Product

Factory Cost

Prime cost
3. Cost of abnormal idle time is:
Credited to Costing P & L Account

Debited to Costing P & L Account

Credited to Production Account

Debited to Production Account
4. Which one of the following is an uncontrollable cause of material price variance?
Change in market price

Inefficient buying

Emergence purchase

Loss of discount
5. Two or more products,with same importance,produced during a production process is known as:
Double Product

Joint Product

Two Product process

By Product
6. FIFO method is best suited when:
Prices are Falling

Prices are Fluctuating

Prices are Rising

Prices are almost Stable
7. In costing ______ analysis is used primarily for control of spare parts.
ABC

Need

VED

Cost
8. ’Which of the following is true with regards to ‘Bin Card’?
It records value only

It records value and quantity

It records quantity only

None of the above is true
9. Average Stock Level is calculated with which of the following formula:
Minimum Stock +1/2 Reorder quantity

Minimum Stock+1/4 Reorder quantity

Minimum Stock+Reorder quantity

Minimum Stock+(Reorder quantity xReorder Time)
10. What is ‘EOQ’if:Consumption per Year is 600 Units,Carrying Cost is 20%,Ordering Cost is Rs.12.00 per order and Price/Unit is Rs.20?
650 Units

750 Units

600 Units

700 Units
11. Which of the following is/are true with regards to’escalation clause’?
It is associated with contract costing

Applicable when there is a change in the price of Labour and/or Material

Not applicable when there is a Change in the utilization production factors

Both A and B above
12. Special Drawing Right(SDR)is related to which of the following institution?
IBRD

WTO

IMF

GATT
13. In which year the LIC was formed?
1962

1956

1964

1979
14. Which of the following institutions regulate Indian Money Market in India?
RBI

IRDA

SEBI

NABARD
15. Which of the following institution was formed in India with the help of World Bank?
IDBI

IFBI

ICICI

DFHI
16. Name the first mutual fund scheme offered in India:
HSBC Equity 5

UTI MF Scheme-1

SBI Magnum Equity

Unit Scheme-64
17. All,except one,given below be group.longs to a group.Find out one which does not belong to the group
International Monetary Fund

The International Development Association

The Multilateral Investment Guarantee Agency

The International Finance Corporation
18. RBI was established in which year?
1938

1935

1948

1945
19. Of the following,which was the first Development Financial Institution started in India?
IDBI

NABARD

LIC-HFL

IFCI
20. Which of the following insurance company has reinsurance business?
LIC of India

Oriental Insurance Company Ltd

GIC of India

United India Insurance Company Ltd
21. What is the meaning of the Latin word’audire’?
To hear

To find

To check

To note
22. Audit note book is maintained by whom?
Client’s clerk

Auditor

Client

Audit clerk
23. Which of the following statement is most suitable to an ‘audit report’?
It is a fault finding report of audit

It is a report of errors and frauds

It is an opinion of the Auditor

It is always a statutory report
24. As per Indian Companies Act 2013,Section 139,an individual auditor,on appointment shall hold the office for a term of:
10 years

1 year

4 years

5 years
25. On completion of an audit,Audit Working Papers are:
Returned to the Client

Retained by the Auditor

Submitted along with audit report

Destroyed immediately
26. Which of the following statement is wrong with regards to an internal auditor?
Has Statutory Powers

Appointed by the Management

Is an adviser to Management

Can be removed at any time
27. Not recording a transaction in the books of account is treated as an error of:
Duplication

Omission

Compensating

Commission
28. As per Companies Act 2013,remuneration of the first auditor of a company is fixed by whom of the following?
Registrar of companies

First general body meeting

As per rates shown in Act schedule

Board of Directors
29. Who appoint auditor in the case of a Government company or any other company owned or controlled ,directly or indirectly,by the Government as per Companies Act 2013?
Board of Directors

Respective Government

CAG of India

Regsitrar of Companies
30. Which of the following statement is wrong with regards to internal Check?
It a part of internal control

it is done by appointed auditor

It is continuous in nature

It is to eliminate errors and frauds
31. Following are the names of table of random numbers except:
Tippett’s table of random numbers

Kendall & Babington Smith numbers

Luca’s table of random numbers

Fisher and Yate’s numbers
32. Value of Probability lies between:
-1 and +1

0 and 1

0 and 1,but cannot be 1 or 0

None of the above
33. Two unbiased coins are tossed .What is the probability of getting at least one tail?
3/4

1/2

1/4

None of the above
34. Which of the following gis the correct expression of regression equation of Y on X?
YC=a-bX

YC=a-bX

YC=a+b+X

YC=a+bX
35. The value of ‘No correlation’is:
-1

0/

+1

Cannot be defined
36. Which of the following is not a property of ‘Normal Distribution’?
Coefficient of skewness is one

It is bell shaped

It is continuous curve

Mean,median and mode are equal
37. Which of the following is not a random sampling method?
Stratified sampling

Systematic sampling

Cluster sampling

Judgement sampling
38. Theory of sampling is based on:
Principle of ‘Statistical Regularity’

Principle of ‘Inertia of Large Numbers’

Both A and B above

None of the above
39. In which year the Indian Contract act was passed?
1872

1892

1912

1905
40. Which of the following is not a negotiable instrument?
Treasury Bill

Share Certificate

Share warrants

Rearer Debenture
41. Bank Draft is a:
Bill of exchange drawn by a Bank

Negotiable instrument

Not a negotiable instrument

Type of promissory note
42. Grace period for calculating maturity of a Bill of Exchange as per Act is:
3 days

4 days

5 days

10 days
43. Which of the following Indorsement is not valid under Negotiable Instruments Act 1881?
Blank Indorsement

Full Indorsement

Partial Indorsement

Restrictive Indorsement
44. The ‘Doctrine of Reputed Ownership’is related to which of the following?
Contract of Sale of Goods Act

Insolvency Acts

Workmen Compensation Act

Indian Contract Act
45. Of the following ,which is the formal certificate of dishonor issued by a Notary Public,to the holder of a Bill or Note on his demand?
Noting

Dishonour Certificate

Protest

Discharge Certificate
46. All crossings (drawing two parallel transverse lines,usually on the left hand top corner)on a cheque wih following words between parallel lines are treated as general crossing,except:
And Company

Not Negotiable

& Co.

The State Bank
47. Which of the following is true with regards to a balance sheet?
It shows changes in assets and liabilities of a business during the year

It shows position change of a business between two particular dates

It shows changes of a business for a particular year

It shows position of a business on a particular date
48. Income received but not earned is:
An Asset

A Liability

A Contingent Liability

None of the above
49. Bank Account is an example of:
Real Account

Nominal Account

Profit Account

Personal Account
50. Unclaimed dividend is shown under which heading in the balance sheet?
Current Liabilities

Provisions

Reserves and Surpluses

Miscellaneous Items
51. Surrender value of Joint life policy is shown as asset in the balance sheet when premium is treated as:
An ordinary business expense

An investment

In both cases A and B above

None of the above
52. In which year the Income Tax Act was passed?
1972

1968

1962

1961
53. Which of the following statement is false with regards to ‘income’ under Income Tax Act?
Which of the following statement is false with regards to ‘income’ under Income Tax Act?

It can be irregular or lump sum

It can be gift with clear personal element

It can be of any form
54. Which of the following is not a business expense?
Depreciation

Salaries

Wages

All the above
55. What is meant by the term ‘Adjusted Purchase’?
Opening Stock+Purchases

Purchase-Purchase Returns

Purchase-Discount received

Opening Stock+Purchases-Returns
56. Which one of the following is correct with regards to Budget?
It is a functional area of management

It is a standing plan

It is a multi use plan

It is a single use plan
57. Which of the following is not a technique of scientific management?
Scheduling

Standardisation

Time Study

Motion Study
58. Theory of human motivation(need hierarchy theory)is given by whom?
F.W.Taylor

Urwick

A.H.Maslow

Glueck
59. Who invented ‘Difference Engine’?
H.Emerson

Gilbreth

Mc.Gregor

Charles Babbage
60. Who among the following is treated as founder of ‘Human Relation School’of management?
H.A.Simon

R.Likert

Elton Mayo

C.I.Barnard
61. Which of the following is not a management function as given by H.Fayol?
Planning

Organising

Control

Staffing
62. Which of the following best explains ‘Planning Premises’?
Planning environment

Permissions available for planning

Resources available for planning

Available infrastructure facilities
63. The idea of ‘Functional Foremanship’ of supervision is given by whom?
Mary Parker Follett

F.W.Taylor

C.Argyris

H.Fayal
64. Which is the oldest form of organization?
Line and Staff

Staff

Committee

Line
65. The process that reduce the gap between planning and performance is:
Staffing

Organising

Controlling

Communicating
66. ’Order of command that runs from top to bottom’is explained by:
Scalar Chain

Unity of Command

Unity of Direction

Esprit-de-Corps
67. Accountability means what?
Doing accounting duty

Obligation for the performance of duty

Ability to answer

Willingness to perform duty
68. Which of the following primarily means to transfer authority from an individual to another?
Delegating

Sharing Responsibility

Division of Labour

Departmentalisation
69. Who issue Treasury Bills in India?
Government Treasury Department

SBI

RBI

SEBI
70. Which one of the following is not a right under Consumer Protection Act 1986?
Right to be informed

Right to protect environmen

Right to be heard

Right to consumer education
71. Which one of the following is true with regards to cash discount?
It is discount on prompt payment

It is discount on price at sales

It is discount on price at sales

It is a reduction in face value
72. Who,among the following ,is associated with the term ‘Marketing Myopia’?
Taylor

Philip Kotler

Henry Ford

Theodore Levitt
73. Which of the following pricing strategy,the marketer charge maximum price on introducing a new product?
Penetration Pricing

Skimmed Pricing

Going Rate Pricing

Full Cost Pricing
74. _________ is the set of all products and items that a seller offers to sell
Product Line

Product Mix

Product width

Product Length
75. Which of the following do not fall under ‘4Ps’ suggested by McCarthy?
Promotion

Product

Place

Perfection
76. Which of the following concept says that the consumers will favour those products that are available widely at low cost?
Production Concept

Selling Concept

Product Concept

Marketing Concept
77. In ‘ABC’ analysis of stock control,which of the following is true with regards to ‘C’ category goods?
They have strict control

They have moderate control

They have no control

They have loose control
78. Which of the following is the formula to calculate workers wage under Halsey Premium Plan?
T x R+%(S-T-R)

T x R+% S(T-R)

T x R+%(S-T)R

(T-R)x%(S-T)R
79. It said that Batch Costing is an extension of _________ Costing.
Contract

Job

Process

Operation
80. The smallest sub-unit of an organization where cost collection is attempted is:
Cost Center

Cost Element

Cost Unit

Cost Department
81. Election commission came into existence in:
1951

1954

1951

1952
82. Who was the first president of the Nair service society?
Mannath Padmanabhan

G.P.Pillai

K.Kelappan

T.K.Madhavan
83. Who has been appointed as Director General of Police,kerala?
Rishiraj Singh

Jiji Thompson

T.P.Senkumar

Jacob Punnus
84. Who started the Bachpan Bachao Andolan?
Medha Patkar

Malala

Kailash Satyarthi

Gopal hari deshmukh
85. The International Boxing Association banned which Indian Boxer for one year for not accepting her bronze medal at Asian Game 2014:
Bala Devi

Suil Chetri

Sarita Devi

Bhakthi Sharma
86. The Asian Games 2018 will be held at:
Doha

Dubai

Tokya

Jakartha
87. Founder of Travancore muslim Mahagensabha:
Makthi Thangal

Mampuram Thangal

Poikayil Yohannan

Vakkom Abdul Khadar Moulavi
88. Guruvayur satyagraha was in:
1930

1932

1933

1931
89. Siva Temple at Aruvipuram established in:
1887

1889

1880

1888
90. Sahodara Sangam was founded at:
Varkala

Perunna

Sivagiri

Cherayi
91. The first characteristic Malayalam novel is ‘Indulekha’published in:
1887

1889

1789

1888
92. Swadeshibhimani Ramakrishna Pillai was deported from Travancore is:
1911

1910

1909

1931
93. Channar agitation took place during the time:
Ayilyam Thirunal

Utharam Thirunal

Swathi Thirunal

Sreemulam Thirunal
94. ’Paschimodayam’was published by:
Father Clement

Herman Guntert

Thoma Kathanar

Gonsalvez
95. The first girls school was started at:
Kollam

Kottayam

Kochi

Thiruvanathapuram
96. ’Tatva prakasika ashram’is an educational centre started by:
Vagbhatananda

Sahodaran Ayyappan

Sree Narayana Guru

Ayyankali
97. Author of Kerala Sahitya Charithram:
Ullur S.Parameswara Iyer

Vallathol

Kumaran Asan

P.K.Narayana Pillai
98. Deshabhimani was the newspaper of:
T.K.Madhavan

Ramakrishna Pillai

Vakkom Abdul Khadar Moulavi

C.Krishnan
99. 93rd constitutional Amendment related with:
Education

Labour

Social Justice

Environment
100. The ex-officio chairman of Rajyasabha:
Vice President

President

Speaker

Prime Minister