EMRS Details

EMRS PGT Commerce – 2026 Question Pattern Analysis

Total duration was 3 hours
The paper included 55 questions for 100 marks
Objective section had 40 questions for 40 marks
Descriptive section carried 60 marks with 15 questions
Final merit will be based entirely on Tier 2 performance

Financial Accounting

1. The excess of actual profit over the normal profit is termed as ———
   (a) Average profit
   (b) Super profit
   (c) Capital profit
   (d) Revenue profit
2. Identify, which of the following statement is not correct?
   (a) Net profit = Gross profit + Other incomes – Indirect expenses
   (b) Net profit = Gross profit – Other incomes + Indirect expenses
   (c) Gross profit = Sales – (Purchases +Direct expenses)
   (d) Cost of Goods Sold = Purchases + Direct expenses – Closing stock
3. Which of the following point is considered as an example of contingent liability?
   (a) Guarantee for loans
   (b) Outstanding expenses
   (c) Prepaid expenses
   (d) Sundry creditors
4. Depletion is related to:
   (a) Plant and machinery
   (b) Goodwill
   (c) Patent
   (d) Natural resources like mines etc.
5. Which of the following formula is true?
   (a) Operating profit = Net profit + Non-operating expenses – Non operating Income
   (b) Operating profit = Net profit – Non operating expenses – Non operating Income
   (c) Operating profit = Net profit + Non-operating expenses + Non-operating Income
   (d) Operating profit = Net profit – Non operating expenses + Non-operating Income
6. Which of the following item is not considered as an example of current liability?
   (a) Bills payable
   (b) Sundry creditor
   (c) Bank overdraft
   (d) Debenture
7. Which concept assumes that a business would continue to carry out its operation indefinitely?
   (a) Business Entity
   (b) Going Concern
   (c) Dual Aspect
   (d) Consistency
8. Suppose the net profit is Rs. 110 before charging commission. If the manager is entitled to a commission @ 10 % of net profit after charging such commission. The commission will be calculated as
   (a) Rs. 11
   (b) Rs. 9
   (c) Rs. 10
   (d) Rs. 12
9. Patent and copyright is an example of
   (a) Fictitious Assets
   (b) Tangible Assets
   (c) Intangible Assets
   (d) Fixed Assets
10. Ramson is a partner who withdrew Rs. 20,000 on October 1, 2025. Interest on drawings is charged 10% per annum. The amount of interest will be……………. (Interest will be calculated up to 31st December 2025)
    (a) Rs. 500
    (b) Rs. 1000
    (c) Rs. 1500
    (d) Rs. 2000
11. If the insurance premium paid Rs. 2000 and pre-paid insurance Rs. 500. The amount of insurance premium shown in profit and loss account will be:
    (a) Rs. 2000
    (b) Rs. 1500
    (c) Rs. 2500
    (d) Rs. 500

Corporate Accounting

12. Issue of share at premium is defined under section ——– of the Companies Act 2013.
    (a) 55
    (b) 52
    (c) 53
    (d) 54
13. The profit on reissue of forfeited shares is transferred so
    (a) General reserve
    (b) Capital redemption reserve
    (c) Capital reserve
    (d) Reverse reserve
14. Preference shares, which enjoy the right to accumulate unpaid dividends in the future years is known as
    (a) Participating preference share
    (b) Convertible preference share
    (c) Cumulative preference share
    (d) Non-participating preference share
15. Comparative statements are also known as:
    (a) Vertical analysis
    (b) Horizontal analysis
    (c) Dynamic analysis
    (d) Time series analysis
16. —————- is a portion of the called up capital, which has been received from the shareholder
    (a) Authorized share capital
    (b) Subscribed share capital
    (c) Paid-up share capital
    (d) Reserve share capital

Business Studies

17. A Government company is any company in which the paid up capital held the government is not less than:
    (a) 50 percent
    (b) 49 percent
    (c) 51 percent
    (d) 75 percent
18. Which of the following cannot be classified as Tertiary Industries?
    (a) Banking
    (b) Insurance
    (c) Warehousing
    (d) Breeding Farms
19. GST is not applicable on:
    (a) Automobile
    (b) Ice-cream
    (c) Soap/detergent powder
    (d) Alcohol for human consumption
20. Minimum number of members to form a public limited company is:
    (a) 5 members
    (b) 2 members
    (c) 7 members
    (d) 10 members
21. GST was implemented in the Jammu and Kashmir with effect from:
    (a) 1st July, 2017
    (b) 7th July, 2017
    (c) 8th July, 2017
    (d) 10th July, 2017
22. The Head of the Joint Hindu Family business is called as:
    (a) Proprietor
    (b) Father
    (c) Karta
    (d) Manager
23. The WTO came into existence on
    (a) January, 1995
    (b) 5th August, 2002
    (c) 10th July, 1993
    (d) 5th June 1953
24. Which of the following types of partners does not contributes capital to the firm?
    (i) Active partner
    (ii) Sleeping partner
    (iii) Secret partner
    (iv) Nominal partner
    Options:
    (a) (i) and (ii) only
    (b) (ii) and (iii) only
    (c) (iv) only
    (d) (i) only
25. The Consumer Protection Act, 2019 came into force on:
    (a) 1 Aug, 2019
    (b) 20 July, 2020
    (c) 9 July, 2019
    (d) 8 Sept, 2020

Business Management

26. Which of the following point is not considered as a characteristics of management?
    (a) Management is a goal-oriented process,
    (b) Management is all pervasive.
    (c) Management is multidimensional.
    (d) Management is a tangible.
27. ———– and ————— are inseparable twins of Management.
    (a) Planning, organising
    (b) Planning, controlling
    (c) Directing, controlling
    (d) Directing, Organising
28. The 14 principle of management propounded by
    (a) Peter Drucker
    (b) F.W. Taylor
    (c) Robinson
    (d) Henry Fayol
29. ————— refers to systematic effort to delegate to the lowest level all authority except that which can be exercised at central points.
    (a) Decentralisation
    (b) Delegation
    (c) Centralisation
    (d) Organising
30. ——— refers to the downward transfer of authority from superior to subordinate
    (a) Centralisation
    (b) Delegation
    (c) Span of management
    (d) Grapevine
31. Grapevine is
    (a) Formal communication
    (b) Informal communication
    (c) Barrier to communication
    (d) Lateral communication
32. Under which principles of Directing, a person in the organisation should receive instructions from one superior only?
    (a) Maximum individual contribution
    (b) Unity of command
    (c) Leadership
    (d) Follow through
33. Which of the following point is not considered as activities related to elements of direction?
    (a) Supervision
    (b) Motivation
    (c) Organising
    (d) Communication
34. Which of the following barriers is not considered as Psychological barriers in communication?
    (a) Lack of attention
    (b) Faulty translation
    (c) Loss by transmission and poor retention
    (d) Distrust between Communicator and Communicate
35. Who among the following developed need Hierarchy Theory of Motivation?
    (a) Scoff
    (b) Peter F. Drucker
    (c) Abraham Maslow
    (d) Fred Luthans
36. In which communication network, a subordinate is allowed to communicate with his immediate superior as well as his superior?
    (a) Circular
    (b) Free Flow
    (c) Inverted V
    (d) Wheel
37. A ————— is a statement of expected results expressed in numerical terms
    (a) Rule
    (b) Method
    (c) Programme
    (d) Budget (Annual Financial Statement)

Marketing Management

38. Which of the following is not a component of physical distribution?
    (a) Ware-housing
    (b) Order-processing
    (c) Transportation
    (d) Advertising

Financial Management

39. When Industrial Credit and Investment Corporation of India (ICICI) was established?
    (a) 1950
    (b) 1955
    (c) 1960
    (d) 1965
40. Which of the following Sources of finance is not considered as long term Sources of funds?
    (a) Equity Shares
    (b) Preference Shares
    (c) Trade Credits
    (d) Debentures

EMRS Subjective Questions

Financial Accounting

1. Define:
   (A) Capital reserve (2)
   (B) General reserve (2)
2. Bhagi Company Ltd. purchased a cold storage plant for Rs 2,50,000 on 1-1- 2015. Depreciation is to be provided annually according to straight line method. The useful life of plant is 10 years and its scrap value after 10 years is estimated to be Rs. 50,000. Calculate the rate of depreciation and the amount of depreciation to be charged every year. (4)
3. Define the following terms:
   (A) Depreciation (1)
   (B) Depletion (1)
   (C) Obsolescence (1)
   (D) Amortization (1)
4. Aman, Neeraj and Kunal are partners sharing profits in the ratio 4:3:2 Aman retires, and Neeraj and Kunal decided to share profit in future in the ratio of 5: 3 calculate gaining ratio.(4)
5. Ranu and Rashmita are partners sharing profits in the ratio 3: 2. They admitted Lina as a new partner for 3/10 shares, which Lina acquired 2/10th from Ranu and 1/10th from Rashmita Calculate the new profit sharing ratio of Ranu, Rashmita and Lina. (4)
6. (A) Compute the value of goodwill on the basis of 4 years purchase of the average profits based on the last 5 years. (2 + 2 = 4)
   The profits for the last 5 years were as follows
   Year 2021 = Rs 40,000
   Year 2022 = Rs 50,000
   Year 2023 = Rs 60,000
   Year 2024 = Rs 50,000
   Year 2025 = Rs 60,000
   (B) Briefly define the term Goodwill.

Corporate Accounting

7. (A) Calculate Liquidity Quick ratio from the following information.
   Current liabilities Rs 50,000 (2 + 2 = 4)
   Current assets Rs 80,000
   Inventory Rs 20,000
   Advance tax = Rs 5,000
   Prepaid Expense = Rs 5,000
   Fixed asset Rs 10,000
   (B) Name any four Fixed assets and four Current asset.
8. (A) From the following information, calculate stock turnover ratio. (2)
   Opening stock Rs 18,000
   Closing stock Rs 22,000
   Purchases Rs 46,000
   Wages Rs 14,000
   Sales Rs 80,000
   Carriage inwards = Rs 4,000
   (B) Name any four Quick Asset and four Current Liabilities. (2)
9. State the formula to calculate following ratio
   (A) Debt-equity ratio (1)
   (B) Current ratio (1)
   (C) Creditor turnover ratio (1)
   (D) Inventory turnover ratio (1)

Business Studies & International Business

10. Define the following:
    (A) Dormant partner (2)
    (B) Nominal partner (2)
11. (A) Name four stages of formation of the company. (2)
    (B) Define Article of association. (2)

Business Management

12. What do you mean by leadership? State any three basic style of leadership based on the use of authority. (2 + 2 = 4)
13. (A) Name any four Dimension (elements) of Business Environment. (2)
    (B) Name any eight Fayol’s Principles of Management. (2)
14. Define following consumer products.
    (A) Non-durable products (1)
    (B) Convenience products (1)
    (C) Shopping products (1)
    (D) Specialty products (1)
15. (A) State the meaning of controlling? (2)
    (B) Name various steps involved in the process of controlling. (2)

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EMRS PGT Commerce – 2023 Question Pattern Analysis

Financial Accounting

1. Raju, Jagbir and Devender are the partners sharing profits in the ratio of 7:5:4. Devender retires on June 30, 2022. It was decided to value the goodwill on the basis of three year’s Purchase of the average profits of last five years, which are 59,200; 57,400; 57,800; 48,000 and 53,600.
   Devender’s share of goodwill will be:
   (a) Rs. 55,400
   (b) Rs. 1,65,600
   (c) Rs. 54,000
   (d) Rs. 41,400
2. X and Y are partners sharing profits and losses in the ratio of 3:2. X’s capital is Rs.60,000 and Y’s capital is Rs.30,000 before adjusting revaluation loss of Rs.14,000 and General Reserve of Rs.24,000. They admitted Z and agreed to give him 1/5 share of profits, Z will bring proportionate capital. Calculate his capital.
   (a) Rs. 29,000
   (b) Rs.22,500
   (c) Rs.25,000
   (d) Rs. 24,000
3. A firm started its business on April 1, 2021. Accounting information provided by the firm for the year 2021-22 is as under:
   Purchases: Rs.1,80,000
   Carriage: Rs. 12,000
   Closing Stock: Rs. 24,000
   Sales: Rs. 2,40,000
   Calculate the Gross profit for the year 2021-22:
   (a) Rs.60,000
   (b) Rs. 84,000
   (c) Rs.76,000
   (d) Rs.72,000
4. Anil, Bijender and Charu are equal partners in a firm having capitals of Rs.60,000; Rs.40,000 and Rs.20,000 respectively on March 31, 2022. On the same day Bijender retires and took away an unrecorded computer for Rs.12,000. Calculate the balance amount shall be paid to Bijender on his retirement.
   (a) Rs.40,000
   (b) Rs.52,000
   (c) Rs.56,000
   (d) Rs. 32,000
5. A, B and C are partners sharing profit and losses in the ratio of 3:2:1. B retires and acquires Rs.40,000 from A and Rs.24,000 from C’s his share of goodwill. New profit sharing ratio of A and C will be.
   (a) 17:7
   (b) 9:4
   (c) 19:9
   (d) 8:3
6. Creditors are Rs.50,000 in the Balance Sheet of a partnership firm. Creditors worth Rs.10,000 agreed to accept an unrecorded asset of Rs. 8,000 in full settlement and remaining creditors agreed to accept 5% less amount. Calculate the amount will be paid to creditors at the time of dissolution of the firm ?
   (a) Rs. 47,500
   (b) Rs. 38,000
   (c) Rs. 35,550
   (d) Rs 57,000
7. Which of the following account has a credit balance?
   (a) Carriage Inward
   (b) Carriage Outward
   (c) Return Outward
   (d) Return Inward
8. Which convention of Accounting implies that the Accounting practices should remain the same from year-to-year?
   (a) Consistency
   (c) Disclosure
   (b) Conservatism
   (d) Materiality
9. A business transaction affects:
   (a) At least two Accounts
   (b) Maximum three Accounts
   (c) Maximum two Accounts
   (d) At least three Accounts
10. Provision for Bad Debts’ is made due to the principle of:
    (a) Full Disclosure
    (b) Materiality
    (c) Consistency
    (d) Conservatism
11. Farzana started a business on April 1, 2021 with capital of Rs.90,000. During the year 2021-22, she withdraws Rs.28,000 for her personal use. Interest on capital and interest on drawings are Rs. 4,000 and Rs. 10,000 respectively. Profit for the year is Rs. 30,000. Her capital as on March 31, 2022 is:
    (a) Rs.94,000
    (b) Rs. 86,000
    (c) Rs.1,38,000
    (d) Rs. 1,34,000
12. A and B share profits and losses in the ratio of 6:4. They admit C for 1/6th share in profit.
    The new profit sharing ratio will be:
    (a) 3:2:3
    (b) 3:2:2
    (c) 4:1:1
    (d) 3:2:1
13. In the absence of Partnership Deed, the rate of interest on capital will be:
    (a) No interest
    (b) 6%
    (c) 7%
    (d) 5%
14. Sale of Old Machinery’ is credited to Sales Account. Identify the type of error, if any.
    (a) Error of Principle
    (b) Error of Omission
    (c) Error of Commission
    (d) No error
15. Which method will show highest value of closing stock in inflationary conditions?
    (a) Average Cost Method
    (b) LIFO Method
    (c) Weighted Average Cost Method
    (d) FIFO Method
16. The debts written off as bad, if recovered subsequently, are:
    (a) Debited to Bad Debts account
    (b) Credited to Debtors Account
    (c) Debited to Profit & Loss Account
    (d) Credited to Bad Debts Recovered A/c
17. The amount payable to the retiring partner on account of ‘Adjustment of Goodwill’ is debited to the capital accounts of continuing partners in their:
    (a) Profit Sharing Ratio
    (b) Sacrificing Ratio
    (c) Gaining Ratio
    (d) Capital Ratio
18. Which of the following accounts will have a credit balance?
    (a) Carriage Outward
    (b) Bills Receivable
    (c) Rent Outstanding
    (d) Purchases
19. Additional capital, brought in by the proprietor, is an example of:
    (a) Increase in Asset and Decrease in Liability
    (b) Increase in one Asset and Decrease in another Asset
    (c) Increase in Liability and Decrease in Asset
    (d) Increase in Asset and Increase in Liability
20. Which of the following errors affect the Trial Balance?
    (a) Errors of Partial omission
    (b) Errors of Complete omission
    (c) Compensating Errors
    (d) Errors of Principle
21. Cost of Goods sold: Rs.1,61,400
    Opening Stock: Rs.11,600
    Closing Stock: Rs.12,000
    The amount of purchase will be:
    (a) Rs.1,49,800
    (b) Rs. 1,49,400
    (c) Rs.1,61,800
    (d) Rs.1,61,000
22. First of all, ‘Double Entry System of Accounting was introduced in
    (a) England
    (b) America
    (c) Italy
    (d) India
23. Which of the following is the ‘Accounting Equation?
    (a) Capital Liabilities + Assets
    (b) Capital Liabilities – Assets
    (c) Liabilities Assets – Capital
    (d) Assets Capital – Liabilities
24. Shekhar draws a bill on Vijay on June 15, 2022 for Rs.40,000 for 3 months. The bill is discounted with bank at a charge of Rs.200. Bill is dishonoured at maturity. In the books of Shekhar, for dishonour, the bank account will be credited by:
    (a) Rs.40,000
    (b) Rs.40,200
    (c) Rs.39,600
    (d) Rs.39,800
25. Balance of Tournament Fund” as on March 31, 2021: Rs.2,40,000
    (i) Donations received for Tournament during the year 2021-22: Rs.48,000
    (ii) Expenditure incurred on Tournament during the year 2021-22: Rs.54,400
    (iii) Interest received on Tournament Fund Investments during the year 2021-22: Rs.19,200
    Calculate the amount of Tournament Fund which will be shown in the Balance sheet as at March 31, 2022
    (a) Rs.2,32,000
    (b) Rs.2,88,000
    (c) Rs.2,52,800
    (d) Rs.2,94,400
26. Income and Expenditure Account is prepared by ‘Not-for-Profit organizations’ on:
    (a) Accrual Basis
    (b) Cash Basis
    (c) Accrual Cum Cash Basis
    (d) Receipt Basis

Corporate Accounting

27. Tara Motors limited’ purchased Machinery from ‘Usha and company’ for Rs.4,00,000. The consideration was paid by issue of 8% Debentures of Rs.100 each at a discount of 20% the Debentures Account will be credited with:
    (a) Rs.5,00,000
    (b) Rs.4,80,000
    (c) Rs.3,20,000
    (d) Rs.5,20,000
28. Discount on the re-issue of forfeited shares cannot exceed:
    (a) 10% of the paid up Capital
    (b) The amount received on forfeited shares
    (c) 10% of the Capital to be re-issued
    (d) The amount not received on forfeited shares
29. If 10% Debentures of Rs. 1,60,000 are issued to vendors in consideration of net assets of Rs.2,00,000; the balance of Rs.40,000 will be credited to:
    (a) Reserve Capital
    (b) Goodwill
    (c) Capital Reserve
    (d) General Reserve
30. That portion of the share capital which cannot be called up, except on the winding up of company, is known as:
    (a) Called-up Capital
    (c) Paid-up Capital
    (c) Reserve Capital
    (d) Capital Reserve
31. Securities Premium Reserve can be used for:
    (a) The payment of Remuneration of Directors
    (b) The payment of Commission to Managers
    (c) The payment of Dividend
    (d) The issue of Bonus shares
32. At the time of forfeiture of shares, the share capital account is debited with the:
    (a) Market value of Shares
    (b) Called-up value of Shares
    (c) Paid-up value of Shares
    (d) Face-value of Shares
33. Dividend is paid as a percentage of
    (a) Called-up Capital
    (b) Paid-up Capital
    (c) Reserve Capital
    (d) Registered Capital

Business Studies

34. As per the Companies Act, 2013, maximum number of partners in a partnership firm is limited up to:
    (a) 20
    (b) 50
    (c) 100
    (d) 10
35. The World Bank began its operation in:
    (a) June 194
    (b) June 1947
    (c) June 194
    (d) June 1945
36. Which of the following is the oldest form of organizing public sector enterprises?
    (a) Departmental Undertakings
    (b) Departmental Stores
    (c) Government Companies
    (d) Co-operative Societies
37. The minimum amount that can be remitted  through RTGS is
    (a) Rs.2 Lakh
    (b) Rs.5 Lakh
    (c) Rs.10 Lakh
    (d) Rs.1 Lakh
38. The ‘International Monetary Fund commenced operation in Washington on:
    (a) March 1, 1948
    (b) April 1, 1947
    (c) April 1, 1948
    (d) March 1, 1947
39. Registration of which type of partnership is compulsory?
    (a) Limited Liability Partnership
    (b) General Partnership
    (c) Partnership at will
    (d) Unlimited Liability Partnership
40. Which of the following is not a limitation of sole proprietorship?
    (a) Limited resources
    (b) Unlimited Liability
    (c) Uncertain Life of Business concern
    (d) Direct Incentive
41. Which of the following is a limitation of co-operative society?
    (a) Limited Liability
    (b) Support from Government
    (c) Government Control
    (d) Equality in voting status
42. Which of the following is not a principle of Insurance?
    (a) Insurable Interest
    (b) Assist in capital formation
    (c) Indemnity
    (d) Utmost Good Faith
43. Which of the following is not a function of Insurance?
    (a) Protection
    (b) Risk – Sharing
    (c) Providing Finance
    (d) Providing certainty
44. Which of the following is a major argument against social responsibility of business?
    (a) Long-term interest of the firm
    (b) Burden on Consumers
    (c) Avoidance of Government regulation
    (d) Justification for existence and Growth
45. Which of the following is not a characteristic of Business?
    (a) Profit Motive
    (b) Existence of Risk
    (c) Certainty of Return
    (d) Dealings in goods and services on a regular basis
46. The interval between two annual general meetings of a company shall not exceed ———
    (a) 15 Months
    (b) 18 Months
    (c) 20 Months
    (d) 12 Months
47. A company secretary is appointed in a company by the
    (a) Shareholders in Annual General Meeting
    (b) Government
    (c) Board of Directors
    (d) Institute of Company Secretaries of India
48. In a Government company, the share capital held by the Government must not be less than of the total capital.
    (a) 51%
    (b) 75%
    (c) 76%
    (d) 50%
49. The agreement of Partnership
    (a) Must be in Writing
    (b) Can be either Oral or in Writing
    (c) Must be in Writing on the Stamp paper
    (d) Must be Oral
50. Which of the following documents defines the scope of a company’s activities?
    (a) Statutory Declaration
    (b) Articles of Association
    (c) Prospectus
    (d) Memorandum of Association
51. Directors of a public company are elected by:
    (a) Government
    (b) Shareholders
    (c) Debenture holders
    (d) Public
52. The minimum number of members in a public company must be:
    (a) 5
    (b) 7
    (c) 10
    (d) 2
53. How many minimum number of meetings of ‘Board of Directors’ are required to be held by a public company during any financial year?
    (a) 3
    (b) 4
    (c) 6
    (d) 2

Business Management

54. Decentralization:
    (a) Decrease the Importance of Subordinates
    (b) Increase the Importance Subordinates of
    (c) Increase the Importance of Superiors
    (d) Decrease the Importance of Superiors
55. Functional Foremanship’ is developed by:
    (a) Henry Fayol
    (b) F.W. Taylor
    (c) Peter F. Druker
    (d) Maslow
56. The principle of management which implies that there should be ‘One Head and One Plan’ for a group of activities is:
    (a) Order
    (b) Unity of Command
    (c) Authority and Responsibility
    (d) Unity of Direction
57. Which of the following Management functions are closely related?
    (a) Planning and Controlling
    (b) Planning and Staffing
    (c) Planning and Organizing
    (d) Staffing and Controlling
58. Status comes under which type of barriers of Communication?
    (a) Organizational Barrier
    (b) Semantic Barrier
    (c) Psychological Barrier
    (d) Personal Barrier
59. Which of the following pair is correctly matched?
    (a) Promotion: Does not involve higher position, Status and responsibilities
    (b) Autocratic Leadership: Enhance Motivation
    (c) Job Enrichment: Mechanism to identify employees’ growth potentials
    (d) Feedback Interview: Conducted at the time of employee leaving the organization
60. Span of control means:
    (a) A manager can supervise only a limited number of subordinates
    (b) An organization consists of various departments
    (c) Authority of each employee is clearly defined
    (d) Every subordinate has one superior
61. The ‘Need – Hierarchy Theory of Motivation is given by:
    (a) F.W. Taylor
    (b) Henry Fayol
    (c) Herzberg
    (d) Maslow
62. Grapevine is associated with:
    (a) Vertical Communication
    (b) Horizontal Communication
    (c)Informal Communication
    (d) Formal Communication
63. Which of the following is not a type of study in scientific Management 7
    (a) Method Study
    (b) Motion study
    (c) Research Study
    (d) Time study

Business Finance

64. The First Stock Exchange was set up in Asia at:
    (a) Mumbai
    (b) Shanghai
    (c) Beijing
    (d) Tokyo
65. The maximum period for which a ‘Commercial paper can be issued is
    (1) 6 Months
    (b) 9 Months
    (c) 12 Months
    (d) 3 Months
66. Long term loan is browed @ 10% and tax rate is 30%. The cost of debt (after tax) is
    (a) 7 %
    (b) 10 %
    (c) 20 %
    (d) 3 %
67. Which source of Business Finance provides benefit in tax?
    (a) Equity Shares
    (b) Preference Shares
    (c) Retained Earnings
    (d) Debentures
68. The First Mutual Fund scheme in India was introduced by:
    (a) Government of India
    (b) Unit Trust of India
    (c) Reserve Bank of India
    (d) State Bank of India
69. A ‘long-term investment decision’ is also known as:
    (a) Dividend Decision
    (b) Financial Decision
    (c) Cash Management Decision
    (d) Capital Budgeting Decision
70. Some merits of a good source of finance are as follows:
    (i) It is a convenient and continuous source of funds.
    (ii) It needs to promote the sales of an organization.
    (iii) It does not create any charge on the assets of the firm while providing funds.
    Identify the source of finance:
    (a) Trade Credits
    (b) Factoring
    (c) Lease financing
    (d) Retained Earnings

Experiential Activity-Based Pedagogy and Case Study-Based Questions

71. Which of the following test should be conducted to identify the strength and weakness of the students in an area of study?
    (a) Achievement Test
    (b) Diagnostic Test
    (c) Aptitude Test
    (d) Reasoning Test
72. What does the drive namely “Operation Blackboard as envisaged in the National Policy of Education, 1986 imply?
    (a) To provide essential facilities to all educational institutions
    (b) To provide essential facilities to Primary schools
    (c) To provide Blackboards for Primary schools
    (d) To provide Blackboards to secondary schools
73. Which agency is proposed to be set up to catalyze and expand research and innovation across the country as per the National Education Policy, 2020 20
    (a) Higher Education Grant Council
    (b) School Education Commission
    (c) National Innovation Mission
    (d) National Research Foundation
74. Eklavya Model Residential Schools (EMRSs) are meant for:
    (a) ST students in remote areas
    (b) SC students only
    (c) SC and ST students only
    (d) SC, ST and OBC only
75. Split-Half method is used for determining which of the following characteristic of a test?
    (a) Validity
    (b) Reliability
    (c) Objectivity
    (d) Usability

National Education Policy (NEP) 2020

76. As per recommendation of National Education Policy 2020, how much percentage of GDP is to be invested in Education Sector of the country?
    (a) 6
    (b) 7
    (c) 8
    (d) 5
77. Formative assessment is conducted to
    (i) monitor student learning
    (ii) provide ongoing feedback
    (iii) improve teaching-learning process
    (iv) know the position of a student in the group
    Select the correct answer using the code given below:
    (a) (i), (iii) and (iv)
    (b) (ii), (iii) and (iv)
    (c) (i), (ii) and (iv)
    (d) (i), (ii) and (iii)
78. Which of the following is a digital storehouse, recommended by National Education Policy 2020, for digital storage of academic credits of students earned from various recognised higher educational institutions?
    (a) Credit Storehouse
    (b) Academic warehouse
    (c) Digital Bank of credit
    (d) Academic Bank of Credit
79. National Education Policy 2020 is based on how many pillars?
    (a) 4
    (b) 3
    (c) 2
    (d) 5
80. The aim of National Education Policy 2020, is to increase the percentage in Gross Enrollment in higher Education by 2035 to:
    (a) 40%
    (b)50%
    (c) 60%
    (d) 30%

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New Vacancy Rules 2025:

3.3.1 Mode of Examination

Tier-I of EMRS Staff Selection Exam (ESSE-2025) will be conducted in MCQ “OMR Based (Pen-Paper)” mode while Tier–II will be combination of descriptive questions and MCQ “OMR Based (Pen-Paper)” mode. After Tier–II, there will be interview for the post of Principal and skill test for the post of Junior Secretariat Assistant.

EMRS Eklavya Model Residential School PGT Commerce Syllabus

Accountancy

Introduction to Accounting

1. 1. • Accounting- concept, meaning, as a source of information objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.
      • Basic Accounting Terms- Business Transaction, entity, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Fixed assets (Tangible and Intangible), Expenditure (Capital and Revenue), Expense, Revenue, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)

Theory Base of Accounting

1. 1. • Fundamental accounting assumptions: GAAP: Concept
      • Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism,
        Materiality and Objectivity System of Accounting. Basis of Accounting: cash basis and accrual basis
      • Accounting Standards: Applicability in IndAS
      • Goods and Services Tax (GST): Characteristics and Advantages.

Recording of Business Transactions

1. 1. • Voucher and Transactions: Source documents and Vouchers, Preparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.
      • Recording of Transactions: Books of Original Entry- Journal
      • Special Purpose books
      • Cash Book: Simple, cash book with bank column and petty cashbook
      • Purchases book
      • Sales book
      • Purchases return book
      • Sales return book
      •  Journal Proper
      • Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts
      • Bank Reconciliation Statement:
        ➢ Need and preparation, Bank Reconciliation, Statement with Adjusted Cash Book
      • Depreciation, Provisions and Reserves
        ➢ Depreciation: Meaning, Features, Need, Causes, factors
        ➢ Other similar terms: Depletion and Amortisation
        ➢ Methods of Depreciation: i. Straight Line Method (SLM) ii. Written Down Value Method (WDV)
      • Difference between SLM and WDV;
      • Advantages of SLM and WDV Accounting treatment of depreciation
        i. Charging to asset account
        ii. Creating provision for depreciation/accumulated depreciation account
        iii. Treatment for disposal of asset
      • Provisions and Reserves: Difference
      • Types of Reserves: i. Revenue reserve ii. Capital reserve iii. General reserve iv. Specific reserve v. Secret Reserve
      • Difference between capital and revenue reserve

Trial balance and Rectification of Errors

1. 1. • Trial balance: objectives and meaning & preparation
      • Errors: types-errors of omission, commission, principles, and compensating; their effect on Trial Balance. Detection and rectification of errors; preparation of suspense account.

Financial Accounting – II

1. 1. • Financial Statements Meaning, objectives, and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure;
      • Deferred Revenue expenditure.
      • Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation.
      • Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation.
      • Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission.
      • Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.

Accounting for Partnership Firms

1. 1. • Partnership: features, Partnership Deed. Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
      • Fixed v/s fluctuating capital accounts. Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.
      • Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio). Goodwill: meaning, nature, need, factors affecting and methods of valuation – average profit, super profit and capitalization.

Accounting for Partnership firms – Reconstitution and Dissolution.

1. 1. • Change in the Profit Sharing Ratio among the existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and reassessment of liabilities and treatment of reserves, accumulated profits and losses. Preparation of revaluation account and balance sheet.
      • Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves, accumulated profits and losses, adjustment of capital accounts and preparation of capital, current account and balance sheet.

Retirement and death of a partner

1. 1. • Effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits, losses and reserves, adjustment of capital accounts and preparation of capital, current account and balance sheet. Preparation of loan account of the retiring partner.
      • Calculation of deceased partner’s share of profit till the date of death. Preparation of deceased partner’s capital account and his executor’s account.

Dissolution of a partnership firm:

1. 1. • Meaning of dissolution of partnership and partnership firm, types of dissolution of a firm. Settlement of accounts – preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).

Accounting for Share Capital•

1. 1. • Features and types of companies• Share and share capital: nature and types.
      • Accounting for share capital: issue and allotment of equity and preferences shares. Public subscription of shares – over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
      • Concept of Private Placement and Employee. Stock Option Plan (ESOP), Sweat Equity.
      • Accounting treatment of forfeiture and reissue of shares. Disclosure of share capital in the Balance Sheet of a company.

Accounting for Debentures

1. 1. • Debentures: Meaning, types, Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security-concept, interest on debentures. Writing off discount / loss on issue of debentures.

Financial statements of a Company:

1. 1. • Meaning, Nature, Uses and importance of financial Statement.
      • Statement of Profit and Loss and Balance Sheet in prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013)
      • Financial Statement Analysis: Meaning, Significance Objectives, importance and limitations.
      • Tools for Financial Statement Analysis: Cash flow analysis, ratio analysis.
      • Accounting Ratios: Meaning, Objectives, Advantages, classification and computation.
      • Liquidity Ratios: Current ratio and Quick ratio.
      • Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio. Debt to Capital Employed Ratio.
      • Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio, Fixed Asset Turnover Ratio, Net Asset Turnover Ratio and Working Capital Turnover Ratio.
      • Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.

Cash Flow Statement

1. 1. • Meaning, objectives Benefits, Cash and Cash Equivalents, Classification of Activities and preparation

B. Business Studies

Foundation of Business

1. 1. • Meaning and features

Evolution and Fundamentals of Business

History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy. Business–meaning and Characteristics, Business- profession and employment-Concept, Objectives of business Classification of business activities – Industry and Commerce, Industry-types: primary, secondary, tertiary Meaning and subgroups, Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning, Business risk-Concept

Forms of Business organizations

Sole Proprietorship-Concept, merits and limitations, Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners. Hindu Undivided Family Business: Concept. Cooperative Societies-Concept, merits, and limitations. Company – Concept, merits and limitations; Types: Private, Public and One Person Company – Concept. Formation of company – stages, important documents to be used in formation of a company. Choice of form of business organization

Public, Private and Global Enterprises

Public sector and private sector enterprises – Concept. Forms of public sector enterprises: Departmental Undertakings, Statutory. Corporations and Government Company. Global Enterprises – Feature. Public private partnership – concept

Business Services

Business services – meaning and types. Banking: Types of bank accounts – savings, current, recurring, fixed deposit and multiple option deposit account. Banking services with particular reference to Bank Draft, Bank Overdraft, Cash credit. E-Banking meaning, Types of digital payments. Insurance – Principles. Types – life, health, fire and marine insurance – concept. Postal Service-Mail, Registered Post, parcel, Speed Post, Courier-meaning

Emerging Modes of Business

E-business: concept, scope and benefits

Social Responsibility of Business and Business Ethics

Concept of social responsibility. Case of social responsibility. Responsibility towards owners, investors, consumers, employees, government and community. Role of business in environment protection. Business Ethics – Concept and Elements.

Finance and Trade-Sources of Business Finance

Concept of business finance. Owners’ funds- equity shares, preferences share, retained earnings. Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, Inter Corporate Deposits (ICD).

Small Business and Enterprises

Entrepreneurship Development (ED): Concept, Characteristics and Need. Process of Entrepreneurship Development: Start-up India Scheme, ways to fund start-up. Intellectual Property Rights and Entrepreneurship. Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act). Role of small business in India with special reference to rural areas. Government schemes and agencies for small scale industries: National Small Industries Corporation (NSIC) and District Industrial Centre (DIC) with special reference to rural, backward areas.

Internal Trade

Internal trade – meaning and types services rendered by a wholesaler and a retailer. Types of retail-trade-Itinerant and small scale fixed shops retailers. Large scale retailers-Departmental stores, chain stores – concept. GST (Goods and Services Tax): Concept and key-features.

International trade:

Concept and benefits. Export trade – Meaning and procedure. Import Trade – Meaning and procedure. Documents involved in International Trade; indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP). World Trade Organization (WTO) meaning and objectives.

Nature and Significance of Management

Management – concept, objectives, and importance. Management as Science, Art and Profession. Levels of Management. Management functions-planning, organizing, staffing, directing and controlling. Coordination- concept and importance.

Principles of Management

Principles of Management- concept and significance. Fayol’s principles of management. Taylor’s Scientific management- principles and techniques.

Business Environment

Business Environment- concept and importance Dimensions of Business Environment- Economic, Social, Technological, Political and Legal. Demonetization – concept and features.

Business Environment

Concept, importance and limitation. Planning process. Single use and standing plans. Objectives, Strategy, Policy, Procedure, method Rule, budget and Programme.

Organising

Concept and importance. Organising Process. Structure of organisation- functional and divisional concept. Formal and informal organisation- concept. Delegation: concept, elements and importance. Decentralization: concept and importance.

Organising

Concept and importance of staffing. Staffing as a part of Human Resource Management concept. Staffing process. Recruitment process. Selection – process. Training and Development – Concept and importance, Methods of training – on the job and off the job – vestibule training, apprenticeship training and internship training.

Staffing

Concept and importance. Elements of Directing. Motivation – concept, Maslow’s hierarchy of needs, Financial and non-financial incentives. Leadership – concept, styles – authoritative, democratic and laissez faire. Communication – concept, formal and informal communication; barriers to effective communication, how to overcome the barriers.

Directing

Controlling – Concept and importance. Relationship between planning and controlling. Steps in process of control.

Controlling

Concept, role and objectives of Financial Management. Financial decisions: investment, financing and dividend- Meaning and factors affecting. Financial Planning – concept and importance. Capital Structure – concept and factors affecting capital structure. Fixed and Working Capital – Concept and factors affecting their requirements.

Financial Markets

Financial Markets: Concept. Money Market: Concept. Capital market and its types (primary and secondary). Stock Exchange – Functions and trading procedure. Securities and Exchange Board of India (SEBI) – objectives and functions

Financial Markets

Marketing – Concept, functions and philosophies. Marketing Mix – Concept and elements. Product – branding, labelling and packaging – Concept. Price – Concept, Factors determining price. Physical Distribution – concept, components and channels of distribution. Promotion – Concept and elements; Advertising, Personal Selling, Sales Promotion and Public Relations

Marketing

Concept and importance of consumer protection. The Consumer Protection Act, 2019: Meaning of consumer. Rights and responsibilities of consumers Who can file a complaint? Redressal machinery Remedies available. Consumer awareness – Role of consumer organizations and Non- Governmental Organizations (NGOs)

Consumer Protection

Information Bulletin:  Link 

Syllabus: Link 

Information Bulletin:  Link 

Syllabus: Link