Previous Exams

Vocational Teacher(Accountancy & Auditing),VHSE-2016

 

Time Remaining :
1. Charging low price in the international market and high price in the home market is called:
Discrimination

Dumping

Rigging

Penetrating
2. The assets bought for long term use are termed as ____________ assets.
Floating

Current

Tangible

Fixed
3. Notary public is a __________ appointed by the Government.
Legal Practitioner

Registar

Clerk

Manager
4. Subscription received in advance during the year is:
Asset

Surplus

Liability

Income
5. Exim Bank was established in the year is:
1956

1983

1991

1982
6. Who among the following is populerly known as Father of Co-Operative movement?
Jawaharlal Nehru

Robert Oven

Plato

Mahatma Gandhi
7. A bank Draft is drawn by :
Customer

Trader

Bank

RBI
8. Which of the following is the Capital Market Regulator:
SEBI

RBI

NABARD

BSE
9. According to Base II,The Capital adequancy ratio for Bank is :
8%

10%

25%

15%
10. Interest on Drawings is credited to :
Capital

Profit and Loss Account

Drawings Account

Goodwill
11. Price Discrimination is possible in which of the following market situation?
Perfect Competition

Pure Competition

Monopoly

Oligopoly
12. Sales Revenue is Rs. 8,00,000 and P/V Ratio is 40% .Then the amount of Contribusion will be :
400000

320000

600000

200000
13. The Consumer Protection Act Was passed in which year?
1956

1948

1981

1986
14. Which of the following companies Act was passed in India recently?
Companies Act 2014

Companies Act 2015

Companies Act 2013

Companies Act 1956
15. A single legislation to replace various Indirect Tax Legislation is the following:
GST

VAT

MAT

KVAT
16. IFCI was started as a specialized Financial institution in India in the Year:
1956

1947

1991

1948
17. Average clause in a General insurance contract discourages:
Under insurance

Over insurance

Un insurance

Tax evation
18. Opening balance of debtor Rs.30,000 , Cash received from Debtors is Rs. 40,000, Goods returned by debtors is 1000.What is the closing balance?
Rs. 76,000

Rs. 60,000

Rs. 71,000

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?
20000 units

25000 units

28000 units

24000 units
20. Narasimham Committee Report on Financial sector Reforms was Tabled in Parliament in which of the following years?
1992

1995

1991

1989
21. Total sales of an organization is Rs. 5,00,000 and Margin of safety is Rs. 2,00,000.Calculate Break Even sales:
Rs.7,00,000

Rs.3,50,000

Rs.2,00,000

Rs.3,00,000
22. Wages paid for installing an asset is to be debited to ___________ account.
Asset

Trading

Profit and Loss

Wages
23. In Responsibility Accounting each area of activity is treated as a :
Profit Centre

Cost centre

Revenue centre

Investment centre
24. When Imputed costs are deducted from Accounting profit,we will get:
Net Profit

Gross Profit

Economic Profit

Explicit cost
25. If a Company Issued Rs. 5,00,000 worth of Equity and Rs.15,00,000 worth of Debt Capital ,Its Capitalization is said to be:
Over capitalized

High Geared

Low Geared

Under Capitalized
26. The Life Insurance corporation of India was incorporated in which year?
1947

1948

1950

1956
27. _____________ enables Indian investors to make investments in foreign companies.
ADR

GDR

IDR

OPTION
28. The rate at which the RBI provides refinance to commercial Banks is:
Repo

Reverse Repo

CRR

SLR
29. Section 80 D of Indian Income TaxAct deals with:
Medical treatment of spouse

Investment in Government Bonds

Interest on Housing loan

Medical Insurance Premium
30. Transfer of shares to legal heirs on death of shareholder is called:
Nomination

Assignment

Transmission

Endorsement
31. Liquidation is not required in :
Merger

Internal Reconstruction

Acquisition

Amalgamation
32. Mathod of doing an activity is called:
Technology

Model

Performance

Execution
33. ___________ replaces the Central Planning Commission:
GST

IFRS

MAT

NITIAYOG
34. The Malayalam Novel 'OHARI' is authored by:
K.L. Mohanavarma

M.T. Vasudevan Nair

M. Mukundan

C.Radakrishnan
35. On winding up,Statement of affairs is prepared by:
Registar

Liquidator

Company

Court
36. Writing off intangible Asset is called:
Amortization

Depreciation

Revaluation

Elimination
37. Under _____________ method of stores issue,the issue price reflects the current market price.
FIFO

LIFO

HIFO

Average
38. ______________ clause is included in contracts to makeup the increase in the cost of materials,labour or other expenses.
Escalation

Bonus

Addition

Cancellation
39. Maslow's Need hierarchy Theory is based on:
Organisational Needs

Market Needs

Human Needs

Government Needs
40. In the case of New Products ___________ Method of pricing is most suitable
Cost Plus

Monopoly

Mark up

Penetration
41. Arbitraging is _____________ Activity
Unfair

Punishable

Legal

Unlawful
42. Which of the following is not an offence under Income Tax Act?
Tax Evasion

Income Concealment

Tax avoidance

Over charging Depreciation
43. NIFTY is based on the value of scrips Listed in:
National Stock Exchange

OTCEI

Bombay Stock Exchange

Cochin Stock Exchange
44. Fire Insurance Contract is a contract of :
Assurance

Indemnity

Loss

Wager
45. Mr. A entered into 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:
Valid

Enforceable

Voidable

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 pr
Mr.Y is not entitled to get the amount

Mr.Y is entitled to get the amount

Mr.Y can sue and get the amount

Nephew is to pay the amount
47. MBP stands for:
Member Broker Plans

Management backed Project

Multi Banking Partner

Maximum Borrowing Power
48. Errors in totalling and balancing is an example of:
Error of Omission

Error of Commission

Compensating Errors

Error of Principle
49. SAP stands for :
Standard Auditing Practises

Standard Accounting Practises

Sectional Auditing Practises

Sectional Accounting Practises
50. Recording transaction in the Ledger is called:
Book-keeping

Accounting

Posting

Balancing
51. Which of the following is a direct expense?
Rent

Salaries

Interest

Wages
52. Unpaid salaries account is a ___________ Account.
Personal

Real

Nominal

None of these
53. Assets which loose their volume due to usage is called:
Depleting

Intangible

Fictitious

Floating
54. When two persons make identical offer to each other,without having knowledge of each other's offer ,then it is case of:
General offer

Specific offer

Counter offer

Cross offer
55. Consent is free when it is caused by :
Coercion

Fraud

Undue influence

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 :
Voidable

Contigent Contract

Wagering Agreement

Quasi contract
57. General offer can be accepted by:
Any person

The promise only

The promise or his agent

None of these
58. General Lien can be exercised by :
Agent

Unpaid Seller

Finder of Lost Goods

Banker
59. Audit conducted by the employees of the organisation is called:
Interim Audit

Internal Audit

Vouching

Local Audit
60. The first general meeting of a company is called :
Statutory meeting

Annual general meeting

Extra ordinary general meeting

Board meeting
61. ____________ is a company created by a special Act in Parliament.
Government

Registered

Chartered

Statutory
62. IPO stands for:
Initial Public offer

International Public offer

Indian Public offer

Initial Private offer
63. The excess money collected over the face value of shares shall be credited to :
Reserve capital

Security Premium

Capital Reserve

Calls in advance
64. The share capital account is debited with _____________ while forfeititing shares.
Calls in arrears

Called up capital

Paid up capital

Issued capital
65. Security Premium cannot be used for:
Writting off priliminary expenses

Issuing Bonus Shares

Writting off discount on issue of shares

Redeem Preference Shares
66. A qulified Report is issued by the Auditor when he is:
Dissatisfied with the Audit

Satisfied with the Audit

Paid his remuneration

A qualified auditor
67. Annual Audit is otherwise known as:
Internal Audit

Interim Audit

Partial Audit

Periodical Audit
68. Which of the following is a Social Network:
Chrome

Twitter

Fire Fox

Internet Explorer
69. List of detailed instructions that direct a computer is called:
Execution

Control

Programme

Storage
70. The acronym CRT stands for:
Computer Radio Technology

Cathode Ray Tube

Colour Ray Tube

Computer Ray Tube
71. The validity of a cheque is ___________ from the date of its issue:
9 months

6 months

12 months

3 months
72. The market where securities are issued for the first time is called __________ market.
Primary

Secondary

Local

Grey
73. The process of converting the physical form of shares into electronic form is called:
Rematerialisation

Dematerialisation

Coding

Decoding
74. Bombay Stock Exchange was established in the year:
1785

1795

1875

1865
75. The first Co-Operative Act was passed in India in the year:
1904

1901

1961

1912
76. Trial Balance will detect:
Errors of Principle

Compensating Errors

Partial omission

Complete omission
77. Double entry system of Accounting was propounded by :
Luca Paciolli

Chanakya

Peter Drucker

Confucious
78. 20% profit on sales price means ________ on cost.
33%

25%

15%

30%
79. Process costing method is used for:
Transport services

Printing Press

Textile units

Soap making
80. Ratio of Net income to Number equity shares is known as:
Net Profit Ratio

Current Ratio

Earnings per share

Dividend per share
81. Who among the following was called The Jhancy Rani of Travancore by Mahatma Gandhi?
Ammu Swaminathan

Akkamma Cheriyan

Aruna Asif Ali

Captain Lakshmi
82. The Travancore State Congress was formed in the year:
1938

1937

1936

1939
83. One among the co-founders of Legue of Opressed People was :
Poyikayil Yohannan

Ayyankali

Chembaka Raman Pillai

Vaikom Abdul Khadar Maulavi
84. The Kerala Kaumadi news paper was started by:
Dr.Palpu

G.K. Pillai

C.Krishna Pillai

C.V. Kunji Raman
85. The first President of Nair Service Society was:
K.Kelappan

Mannath Padmanabhan

G.K. Pillai

C.Krishna Pillai
86. A.B.Selam was a famous:
Muslim leader

Jew leader

Chistian leader

Nair Leader
87. The Pattini MArch from Kannur to Madrasin 1936 was led by:
E.M.S.Nambuthiripad

P.Krishnapillai

A.K.Gopalan

G.Sankaran Nair
88. Swathanthrya Gatha was written by:
G.Sankarakuruppu

Vallathol

Ulloor

Kumaranasan
89. The Channar Agitation achieved its objectives in the year:
July 1859

November 1859

September 1859

December 1859
90. The Church Mission Society was founded in 1821 by:
Arnos Pathiri

Ringle Tab

Benchamin Baily

Hermen Gundert
91. Literacy Criticism in Malayalam Literature was initiated by :
Joseph Mundassery

M.P.Paul

P.K.Narayanapillai

Raja Raja Varma
92. To which of the following political parties does Tejashwi Prasad belong:
Bharathiya Janatha Party

Rashtiya Janatha Dal

Samajwadi Party

Biju Janatha Dal
93. Which among the following state is known as Denmark of India?
Punjab

Hariyana

Bihar

Himachal Pradesh
94. Orange Book is the official Book of which of the following countries?
Netherland

France

China

Portuguese
95. The first opposition leader of the Kerala Legislative Assembly was:
C.H.Muhammed Koya

R.Sankar

Pattom A.Thanupillai

P.T. Chacko
96. The National Food Security Act 2013 became law on:
September 9,2013

September 17,2013

September 12,2013

September 22,2013
97. Floid MAyWeatherJr,the famous Boxing Player belongs to which country:
Cuba

West Indies

Canada

United States of America
98. The Anglo Indian Nominne to the 16th Loksabha from Kerala is:
Richard Hey

George Baker

Ludy Louis

Edward Edenzhath
99. By which constitutional Amendment in 1986 was the State of Mizoram created:
63rd Amendment

57th Amendment

53rd Amendment

66th Amendment
100. Mahakavi Vallthol Established Kerala Kalamandalam at Cheruthuruthy in:
1925

1930

1932

1934