- The first Indian to suggest a model for human resource valuation and accounting is:
(a) Khan and Jain
(b) S.K. Chakraborthy
(c) Kohler
(d) S.K. Bhattacharya - A change in accounting policy should be made :
(I) For compliance with an accounting standard
(II) For better presentation of financial statements
Codes :
(a) I and II both are correct
(b) I and II both are incorrect
(c) I is correct, but II is incorrect
(d) I is incorrect, but II is correct - Accounting Standards Board was set up in India in
(a) 1989
(b) 1977
(c) 1889
(d) 1997 - Which of the following should be included in general administrative expenses ?
I Interest II Advertising (a) Yes Yes (b) Yes No (c) No Yes (d) No No - AS – 6 was made mandatory from the accounting period beginning on or after
(a) 01 – 04 – 1991
(b) 01 – 04 – 2001
(c) 01 – 04 – 2004
(d) 01 – 04 – 1995 - Human Resource Accounting is :
(I) Valuation of human resources.
(III) Recording the value of human resources in the financial statements of the business.
Codes :
(a) I is correct, but II is incorrect
(b) I is incorrect, but II is correct
(c) I and II both are correct
(d) I and II both are incorrect - Match the List – I with List – II :
List – I List – II (a) Index Futures Contract 1. June 2001 Contract (b) Index Options 2. June 2000 (c) Stock Options 3. July 1992 (d) Bill Market Scheme 4. July 2001 Codes :
(a) (b) (c) (d)
(a) (a) 3 2 1 4
(b) (b) 2 1 4 3
(c) (c) 4 2 1 3
(d) (d) 2 3 1 4 - Euro issues include
(a) Foreign Currency Convertible Bonds
(b) Global Depository Receipts
(c) American Depository Receipts
(d) All the above - Provision for bad debts and doubtful debts is created in anticipation of actual bad debts on the basis of
(a) Conservatism concept
(b) Going concern concept
(c) Disclosure concept
(d) Money measurement concept - Match the following :
List – I List – II (a) Pure Growth Funds 1. Income-cum- Growth Funds (b) Money Market Mutual Funds 2. Borrowed Funds (c) Balanced Funds 3. ‘Nest Eggs’ Investments (d) Leveraged Funds 4. Money Funds Codes :
(a) (b) (c) (d)
(a) (a) 1 3 2 4
(b) (b) 3 4 1 2
(c) (c) 2 4 3 1
(d) (d) 3 2 4 1 - To achieve a reasonably objective basis, financial forecasts and projections should be prepared :
(I) in accordance with GAAP
(II) using information that is in accordance with the plans of the entity
(III) with due professional care
Codes :
(a) I, II and III
(b) I and II
(c) I and III
(d) II and III - Speculators who neither buy nor sell securities in the market, but still trade on them are called
(a) Wolves
(b) Stags
(c) Lame Ducks
(d) Bears - Securities and Exchange Board of India was set up on
(a) April 12, 1988
(b) April 12, 1978
(c) December 12, 1988
(d) December 12, 1978 - Consider the following statements :
(I) Venture capital is available for trading concern also.
(II) Venture capitalists share the risk in the business.
Codes :
(a) Statements I and II are True
(b) Statements I and II are False
(c) I is True, but II is False
(d) I is False, but II is True - Match the following exchanges with the commodity they deal :
List – I List – II (a) London Metal Exchange 1. Soyabean oil (b) Chicago Board of Trade 2. Agricultural Products (c) New York Cotton Exchange 3. Gold (d) Commodity Exchange New York(COMEX) 4. Cotton Codes :
(a) (b) (c) (d)
(a) (a) 1 3 2 4
(b) (b) 3 2 1 4
(c) (c) 4 3 1 2
(d) (d) 3 1 4 2 - Who proposed the ‘value chain’ as a tool to identify customer value ?
(a) Philip Kotler
(b) Michael Porter
(c) William J. Stanton
(d) Jha T. M. - Consider the following statements.
(I) Selling concept converts existing products in to the money.
(II) Marketing concept converts customer needs into products.
(a) I is True, but II is False
(b) I is False, but II is True
(c) I and II are True
(d) I and II are False - Match the following :
List – I (Four P’s) List – II (Four C’s) (a) Product 1. Convenience (b) Price 2. Communication (c) Place 3. Customer solution (d) Promotion 4. Customer cost Codes :
(a) (b) (c) (d)
(a) (a) 3 2 1 4
(b) (b) 1 2 3 4
(c) (c) 2 4 1 3
(d) (d) 3 4 1 2 - Assertion (A) : The marketing executive is to be responsible for the performance of the marketing department.
Reason (R) : Marketing is treated as an important profit centre in the company.
Codes :
(a) (A ) and (R) are true and (R) is the correct reason for (A)
(b) (A) and (R) are true, but (R) is not the correct reason for (A)
(c) (A) is true, but (R) is false
(d) (A) is false, but (R) is true - Introducing new product to the existing markets is an example of
(a) Concentrial Diversification
(b) Horizontal Diversification
(c) Vertical Diversification
(d) Conglomerate Diversification - Match the following :
List – I List – II (a) Undifferentiated marketing 1. Concentrated marketing (b) Differentiated marketing 2. Mass marketing (c) Niche marketing 3. Local and Individual marketing (d) Micro marketing 4. Segmented marketing Codes :
(a) (b) (c) (d)
(a) (a) 2 3 4 1
(b) (b) 2 4 1 3
(c) (c) 3 4 2 1
(d) (d) 4 2 1 3 - Consider the following statements :
(I) Unsought products are unknown to the potential consumers.
(II) Unsought products are known products that customers do not actively seek.
Codes :
(a) Statements I and II are True
(b) Statements I and II are False
(c) I is True, but II is False
(d) I is False, but II is True - Post-Test marketing options are :
(I) Abandonment of the product
(II) Additional testing
(III) Commercialisation
Codes :
(a) I, II and III
(b) I and II
(c) II and III
(d) I and III - Greater consumer control means that companies must rely more on marketing by than by
(a) Interaction ; intrusion
(b) Interruption ; involvement
(c) Iinspiration ; competition
(d) Socialisation ; information - Consider the following statements :
(I) The marketing plan is the central instrument for directing and co-ordinating the marketing effort.
(II) A mission statement has as its primary focus the product and how to make it.
Codes :
(a) Statements I and II are True
(b) Statements I and II are False
(c) Statement I is True, but II is False
(d) Statement I is False, but II is True - Match the following types of business customers with corresponding marketing implications :
List – I List – II (a) Price-oriented customers 1. Quality selling (b) Solution-oriented customers 2. Enterprise selling (c) Gold-standard customers 3. Transactional selling (d) Strategic customers 4. Consultative selling Codes :
(a) (b) (c) (d)
(a) (a) 3 1 2 4
(b) (b) 3 4 1 2
(c) (c) 2 4 3 1
(d) (d) 1 3 4 2 - The theory of ‘Cognitive Dissonance’ was propounded by
(a) Pavlov
(b) Dholakia
(c) R.D. Balckwell
(d) Festinger - Assertion (A) : Brand is much more complex, apart from attributes and benefits.
Reason (R) : The values which govern a producer are reflected by the brand.
Codes :
(a) Both (A) and (R) are correct
(b) Both (A) and (R) are incorrect
(c) (A) is correct, but (R) is incorrect
(d) (A) is incorrect, but (R) is correct - Match the following products with their brands :
List – I List – II (a) Scooters 1. Modern (b) Toothpaste 2. Facit (c) Typewriter 3. Falcon (d) Bread 4. Forhans Codes:
(a) (b) (c) (d)
(a) (a) 4 2 3 1
(b) (b) 3 2 4 1
(c) (c) 3 4 2 1
(d) (d) 1 4 2 3 - Starting with one or two areas and then adding new regions to the distribution area is called
(a) Test marketing
(b) Sprinkler strategy
(c) Rolling launch
(d) De-marketing - The success of an organisation depends on
(a) Planning and direction
(b) Training and development
(c) Commitment and Co-operation
(d) Discipline and Control - Measures that are essentially involved in rationalising business are
(a) Downsizing and delayering
(b) Expanding and delayering
(c) Reducing the volume of business
(d) Reducing the number of products - By focussing on core competencies, companies have the possibility of generating
(a) Higher profit margins
(b) Better market standing
(c) Human capital advantage
(d) Better goods and services - Statement (A) : Industrial Relation Laws are mostly related to conflict resolution and regulating the relationship between employer and employees.
Statement (B) : It is important to keep HR plans flexible to accommodate changes that take place at the top level of organisation.
(a) Statement (A) is right, (B) is wrong
(b) Statement (B) is right, (A) is wrong
(c) Both statements are right
(d) Both statements are wrong - Match the following :
(a) Intelligence tests i. Measure latent ability (b) Aptitude tests ii. Measure interest in the present job (c) Interest tests iii. Projective test (d) T.A.T. iv. Measure Comprehension and reasoning Codes :
a b c d
(a) iii iv ii i
(b) iv i ii iii
(c) ii iv iii i
(d) iv iii i ii - The greatest challenge of Human Resource Management is to
(a) Control the groups
(b) Bring in co-ordination
(c) Integrate the individual and organisational objectives
(d) Restrict group formation - A written statement of qualifications, traits and job duties is called
(a) Job specification
(b) Job analysis
(c) Job evaluation
(d) Job comparison - Role is defined as the position a person occupies as determined by expectations from significant persons including
(a) Superiors
(b) Subordinates
(c) Peers
(d) Individual himself - The need to belong and pride to belong to an organisation is accomplished through
(a) Human resource management
(b) Creating a corporate culture
(c) Motivation
(d) A fair compensation plan - Statement (A) : Hierarchy, status,authority, responsibility and accountability are structural concepts.
Statement (B) : In Indian context emotions, feelings, empathetic perceptions, impressions and the affective components have influenced people more than any thing else.
(a) Both the statements are true
(b) Both the statements are wrong
(c) Statement (A) is true and (B) is wrong
(d) Statement (A) is wrong and (B) is true - Selection method used by most of the organisations is
(a) Aptitude tests
(b) Common entrance tests
(c) Interviews
(d) References - The systematic description of an employee’s job-relevant strengths and weaknesses is called
(a) Performance appraisa
(b) Managerial appraisal
(c) Job description
(d) Organisational appraisal - Match the following :
(a) Initiative i. Conceptual subject knowledge (b) Technical skill ii. Identifying business opportunities (c) Communication iii. Display of skill enterprising attitude (d) Commercial skill iv. Ability to articulate thoughts Codes :
a b c d
(a) ii i iv iii
(b) iii i iv ii
(c) ii iv i iii
(d) ii i iii iv - The right to give orders and the power to exact obedience is
(a) Accountability
(b) Responsibility
(c) Authority
(d) Management - The test that measures whether an individual has the capacity or latent ability to learn a given job is
(a) Intelligent tests
(b) Aptitude test
(c) Psycho motor tests
(d) General knowledge tests - Foreign Direct Investment basically involves the transfer of
(a) International Financial Institutions
(b) Capital only
(c) Technology only
(d) Both Capital and Technology - Global economic integration does not occur through
(a) Foreign trade
(b) Migration
(c) Taxation
(d) Capital flows - The full form of ‘BRICS’ countries
(a) Brazil, Russia, India, China and South Africa
(b) Brazil, Romania, India, China and South Korea
(c) Brazil, Russia, India, China and South Korea
(d) Burma, Russia, India, China and South Africa - Arrange in an sequential order how the evolution of international business emerges and grows ?
(a) Ethnocentrism, Polycentrism, Regiocentrism and Geocentrism
(b) Geocentrism, Ethnocentrism, Polycentrism and Regiocentrism
(c) Regiocentrism, Ethnocentrism, Polycentrism and Geocentrism
(d) Polycentrism, Geocentrism, Ethnocentrism and Regiocentrism - Which one of the countries given below is not the member in SAARC ?
(a) India
(b) Pakistan
(c) Maldives
(d) Brazil - Match the items of List – I with items of List – II
List – I List – II (a) SAARC 1. Tokyo (b) WTO 2. Kathmandu (c) World Bank 3. Geneva (d) Asian Productivity Organisation 4. Washington Codes :
(a) (b) (c) (d)
(a) (a) 2 3 4 1
(b) (b) 3 2 1 4
(c) (c) 4 1 3 2
(d) (d) 1 4 2 3 - Non-Banking Financial Companies (NBFCs) are the Financial Intermediaries engaged primarily in the business of
(a) Accepting Deposits
(b) Lending loans and advances
(c) Leasing
(d) Hire purchasing
Codes :
(a) i and ii
(b) iii and iv
(c) i and iii
(d) i, ii, iii and iv - In which year the IMF introduced the Special Drawing Right to its member countries ?
(a) India
(b) Pakistan
(c) Maldives
(d) Brazil - Under whose chairmanship the RBI appointed a committee on Capital Account Convertibility ?
(a) S.S.Tarapore
(b) Dr. C. Rangarajan
(c) Dr. Y. Venugopal Reddy
(d) Abdul Hussain - From the following which one of the statements is wrongly stated ?
(a) Capital market deals in long-term loanable funds.
(b) Merchant bankers need not require registration with SEBI to carry out their activities.
(c) Underwriting is an important function in the Primary market .
(d) Derivatives are the Financial Instruments whose value is derived from other financial instruments. - Use of various techniques to minimise exchange risks is termed as
(a) Hedging
(b) Switch trading
(c) Speculation
(a) Foreign Exchange - Trade Related Aspects of Intellectual Property Rights (TRIPs)
(a) Uruguay Round Agreements
(b) Doha Ministerial Conference
(c) Dhaka SAARC Summit
(d) World Bank Policy Research Report - Foreign Exchange Management Act replacing FERA came into force with effect from
(a) 1st January, 2005
(b) 1st January, 2000
(c) 1st July, 2006
(d) 1st July, 1995 - Assertion (A) : There is no difference between futures and forwards excepting that the former requires a margin.
Reason (R) : Futures are standardised, marked to market and traded in organised exchanges. Forwards are tailor-made instruments and traded on the OTC market.
Codes :
(a) (A) is incorrect, but (R) is correct
(b) (R) is incorrect, but (A) is correct
(c) Both (A) and (R) are correct
(d) Both (A) and (R) are incorrect - A situation in which goods are traded for goods due to a shortage of foreign exchange is called
(a) Multinational trade
(b) Barter
(c) Offset trade
(d) Bilateral trade - Mr. Murthy was appointed on 20th August 2014 as an Assistant Professor in a college on temporary basis. He was confirmed on January 1, 2015. What would be the duration of his Previous Year for the Assessment Year 2015-16 ?
(a) 20.8.2014 to 31.3.2015
(b) 01.01.2015 to 31.3.2015
(c) 01.04.2014 to 31.3.2015
(d) 20.08.2014 to 19.08.2015 - Assessee means a person
(a) By whom tax is payable on his own income
(b) By whom tax is payable on anybody’s income
(c) By whom any tax or any other sum of money is payable under Income Tax Act
(d) Who is liable to pay any sum or in respect of whom any proceedings have been initiated under Income Tax Act - Assertion (A) : An American citizen earns Rs. 10,00,000 income from his business in India. Since he is not a citizen of India and not a resident in India this income should not be taxed.
Reason (R) : For taxing Indian Income Citizenship and residential status of an assessee is not necessary.
Codes :
(a) Both (A) and (R) are correct
(b) (A) is correct and (R) is incorrect
(c) (A) is incorrect and (R) is correct
(d) Both (A) and (R) are incorrect - Match the following :
List – A List – B (a) House Property Income i. Section 16 (b) Business Income ii. Section 24 (c) Salary Income iii. Section 57 (d) Income from other sources iv. Section 30 Codes :
a b c d
(a) i ii iii iv
(b) ii i iv iii
(c) iv ii i iii
(d) ii iv i iii - In which Section of I.T. Act, exempted incomes have been mentioned ?
(a) Section 10
(b) Section 11(C)
(c) Section 13
(da) Section 80 C - Mr. R, a resident individual sold a long- term capital asset on which he made long-term capital gain of Rs. 4,00,000. He deposited Rs. 1,00,000 into his Public Provident Fund A/c and donated Rs. 50, 000 to PM’s National Relief Fund. His tax liability for the A.Y. 2015-16 is
(a) Rs. 0
(b) Rs. 28,840
(c) Rs. 30,900
(d) Rs. 15,450 - Assertion (A) : Interest on Loan taken to construct a residential house which is let out will be deducted in full.
Reasoning (R) : Interest on Loan taken to construct a residential house is allowed to the extent of Rs. 1,50,000.
Codes :
(a) (A) is correct and (R) is incorrect
(b) Both (A) and (R) are correct
(c) (A) is incorrect and (R) is correct
(d) Both (A) and (R) are incorrect - An individual received a salary of Rs. 2,88,000 and bonus of Rs. 32,000. He contributed 15% of the salary to RPF to which his employer contributed 14 percent. He is provided with a rent-free house in Mumbai. The interest credited to his RPF is Rs. 2,000 @ 10% per annum. His income from salary for the A. Y. 2015-16 will be
(a) Rs. 3,68,000
(b) Rs. 3,63,200
(c) Rs. 3,73,860
(d) Rs. 3,73,760 - Match the following :
List – A List – B (a) Depreciation Allowance i. Section 32 AC (b) Investment Allowance w.e.f. 2014-15 ii. Section 33 AB (c) Investment Allowance w.e.f. 2016-17 iii. Section 32 (d) Tea Development Account iv. Section 32 AD Codes :
a b c d
(a) i ii iii iv
(b) iii i iv ii
(c) ii iv iii i
(d) iv iii i ii - A Ltd. has unabsorbed depreciation of Rs. 10,00,000 for the P.Y. 2014-15. This can be carried forward
(a) For a maximum period of 8 years and set-off against business income
(b) Indefinitely and set-off against business income
(c) Indefinitely and set-off against any head of income except salaries
(d) Cannot be carried forward - Assertion (A) : Family pension is not taxable.
Reason (R) : The person who receives the family pension was not an employee but dependent of the employee.
Codes :
(a) Both (A) and (R) are correct
(b) (A) is correct and (R) is incorrect
(c) Both (A) and (R) are incorrect
(d) (A) is incorrect and (R) is correct - During the previous year 2014-15 the book profits of a firm stood at Rs. 3,00,000 and the remuneration actually paid to the partners was Rs. 1,50,000. The maximum amount of remuneration allowable U/S 40 (b) is
(a) Rs. 1,50,000
(b) Rs. 2,70,000
(c) Rs. 3,00,000
(d) Rs. 1,80,000 - Match the following :
List – A List – B (a) Voluntary Return of income i. Section 139 (5) (b) Return of Loss ii. Section 139 (4) (c) Belated Return iii. Section 139 (3) (d) Revised Return iv. Section 139 (1) Codes :
a b c d
(a) ii iii iv i
(b) iii iv i ii
(c) i ii iii iv
(d) iv iii ii i - A resident individual wins a lottery of Rs. 10,00,000 during the year 2015-16. The rate at which TDS will be made is
(a) 40%
(b) 25%
(c) 30%
(d) 30.9% - Assertion (A) : Both tax planning and tax avoidance are legal and aim at reducing tax liability.
Reasoning (R) : Tax planning follows the intent of the law whereas the tax avoidance looks to the loop holes in the law to serve the purpose
Codes :
(a) Both (A) and (R) are correct
(b) (A) is correct and (R) is incorrect
(c) (A) is incorrect and (R) is correct
(d) Both (A) and (R) are incorrectAnswer Key
1 (b) 2 (a) 3 (b) 4 (d) 5 (d) 6 (c) 7 (b) 8 (d) 9 (a) 10 (b) 11 (a) 12 (b) 13 (a) 14 (d) 15 (d) 16 (b) 17 (c) 18 (d) 19 (a) 20 (b) 21 (b) 22 (a) 23 (a) 24 (a) 25 (c) 26 (b) 27 (d) 28 (a) 29 (c) 30 (c) 31 (c) 32 (a) 33 (b) 34 (a) 35 (b) 36 (c) 37 (a) 38 (d) 39 (b) 40 (a) 41 (c) 42 (a) 43 (b) 44 (c) 45 (b) 46 (d) 47 (c) 48 (a) 49 (a) 50 (d) 51 (a) 52 (b) 53 (b) 54 (a) 55 (b) 56 (a) 57 (b) 58 (#) 59 (a) 60 (c) 61 (c) 62 (d) 63 (c) 64 (d) 65 (a) 66 (a) 67 (a) 68 (c) 69 (b) 70 (c) 71 (d) 72 (b) 73 (d) 74 (c) 75 (a)