Total No. of Questions: 100
Hours: 2 Hours
Units Covered :
| Unit No. | Name of Units | No. of Questions | Total No. of Questions Unit wise |
| Unit 1 |
Financial Accounting | 5 | 20 Questions |
| Corporate Accounting | 5 | ||
| Cost & Management Accounting | 8 | ||
| Auditing | 2 | ||
| Unit 2 |
Business Mathematics | 6 | 20 Question |
| Business Statistics | 6 | ||
| Income Tax | 6 | ||
| GST | 2 | ||
| Unit 3 |
Micro Economics | 6 | 20 Questions |
| Macro Economics | 6 | ||
| Indian Economy & Recent Development | 6 | ||
| Unit 4 | General Management & Corporate Governance and Entrepreneurship | 8 | 20 Questions |
| Business Law | 6 | ||
| Company Law | 6 | ||
| Unit 5 |
Financial Management | 5 | 20 Question |
| Human Resource Management & Marketing Management | 10 | ||
| International Business | 5 | ||
| Total Questions | 100 | 100 Questions | |
- Read the Assertion and Reasoning given and select the correct option.
Assertion (A): Capital is treated as liability
Reasoning (R): Capital is treated as a liability due to money measurement concept.
(a) Assertion (A) is false but Reason (R) is true.
(b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
(c) both assertion (A) and reasoning (R ) are true and Reason (R ) is the correct explanation of Assertion (A)
(d) Assertion (A) is true but Reason (R) is false. - In practice, a compound journal entry is not recorded when :
(a) One account is to be debited and two or more accounts are to be credited
(b) Two or more accounts are to be debited and one account is to be credited
(c) Two or more accounts are to be debited and two or more accounts are to be credited
(d) Only one account is debited and another account is credited.
Choose the correct option.
(a) Only (a) and (b)
(b) Only (a)
(c) Only (b)
(d) Only (d) - Which of the following expenditures is considered as deferred revenue expenditure?
(a) Rs. 2,000 spent on repairs of machinery
(b) Rs. 4,000 spent on dismantling, transportation and reinstalling plant and machinery to a new site
(c) Rs. 60,000 spent on construction of railway siding
(d) Rs. 20,000 spent on some major alterations to a theatre which made it more comfortable and attractive. - The errors on one side of the ledger account are compensated by errors of the same amounts on the other side or on the same side. Which error is being talked about?
(a) Compensating errors
(b) Compensatory errors
(c) Errors of commission
(d) Error of principle - Reconstituion of partnership is:
(a) To raise goodwill account by its value
(b) Change in profit sharing ratio of partners
(c) Allowing interest on capital
(d) Additional capital introduced by partner - Securities and Exchange Board of India has laid down which of the following?
(a) Maximum subscription of a company must be 60 percent of shares issued for subscription before it allots the shares .
(b) Maximum subscription of a company must be 90 percent of shares issued for subscription before it allots the shares .
(c) Minimum subscription of a company must be 60 percent of shares issued for subscription before it allots the shares .
(d) Minimum subscription of a company must be 90 percent of shares issued for subscription before it allots the shares - Which statement from the following is false?
(a) The lump sum amount can received on shares
(b) A private company doesn’t issue the prospectus
(c) The rate of dividend is fixed on equity shares
(d) During the calls in advance the bank account is debited and calls in advance account is credited - Which statement from the following is false?
(a) Mortgaged debentures are called secured debentures
(b) Company can issue debentures for consideration other than cash
(c) Bearer debentures can be transferred to any person
(d) Coupon rate debenture has fixed rate of interest - Match the items of List – II with the items of List – I and indicate the code of correct matching. The items relate to the Balance Sheet of a Company.
List I List II (a) Miscellaneous Expenditure (i) Unclaimed Dividend (b) Current Liabilities (ii) Forfeited Share Account (c) Subscribed Capital (iii) Work in Progress (d) Current Assets (iv) Discount in Issue of Shares (a) a-(iv); b-(i); c-(ii); d-(iii)
(b) a-(ii); b-(i); c-(iii); d-(iv)
(c) a-(iii); b-(iv); c-(i); d-(ii)
(d) a-(i); b-(ii); c-(iii); d-(iv) - Which of the following statements is false?
(a) Working capital is an excess of current asset over current liabilities
(b) Debt equity ratio measures the short term financial position
(c) The activity issue and turn-over ratio are same
(d) The ideal ratio between current assets and current liabilities is 2:1 - Which one is true?
(a) Incremental cost is a type of differential cost.
(b) Opportunity cost helps in ascertainment of cost.
(c) Variable cost per unit fluctuates with the volume of production
(d) Conversion cost is the sum total of direct material cost and direct wages cost - Which one is true?
(a) All future costs are not relevant costs
(b) Difference in costs between alternatives is termed as relevant cost
(c) Past costs are significant for decision making
(d) Contribution margin is also known as Net Income - Opening stock of raw material of a manufacturing concern is Rs. 10,000, purchase during the year is Rs. 2,00,000, wages Rs. 50,000, Carriage Rs. 5,000, Factory Overheads Rs. 1,25,000 and closing stock of raw material is Rs. 15,000. The amount to be transferred to :
(a) Rs. 3,75,000 to cost of goods manufactured account
(b) Rs. 3,75,000 to cost of goods sold account
(c) Rs. 3,75,000 to cost of sales account
(d) Rs. 3,75,000 to cost to company account - Which of the following is not an assumption of Economic Ordering Quantity (EOQ)?
(a) Anticipated usage of materials in units is not known.
(b) The quantity of material ordered is received immediately i.e. the lead time is zero.
(c) Ordering cost per order and carrying cost per unit are known and they are fixed.
(d) Cost per unit of the material is constant and is known as well - A job is budgeted to require 3,300 productive hours including 25% normal idle time. If the total labour cost budgeted for the job is Rs. 36,300, what is the labour cost per hour?
(a) Rs.11.00
(b) Rs.14.67
(c) Rs.8.80
(d) Rs.8.25 - The basis for allocation of ‘Salary to General Manager’ is
(a) Number of workers
(b) Time devoted by General Manager
(c) Profit of the organization
(d) Should not be apportioned - In a company, there are zero units in beginning work in progress, 7000 units stared into production and 500 units in ending work in progress 20% completed. The physical units to be accounted for are
(a) 7000
(b) 7340
(c) 7360
(d) 7500 - The difference between fixed and variable cost has a special significance in the preparation of :
(a) Flexible budget
(b) Master budget
(c) Cash budget
(d) Plant utilization budge - None of the following persons shall be qualified for the appointment as auditor of a company:
(a) A body corporate
(b) An officer or employee of the company
(c) A person who is partner or who is in the implement of an officer
(d) All of the above - When the auditor is satisfied as to the fairness of the balance sheet and P/L A/c, he will give a:
(a) Qualified report
(b) Clean and and unqualified report
(c) General report
(d) None of the above - X sets up a new business on October 1, 1987 and does not close his books on March 31,1988. What will be the period of previous year for the assessment year 1989-90?
9 months
2. 24 months
3. 18 months
4. 12 month - Which of the following statements is true?
Gratuity or Pension is partially exempted income
2. Agricultural income is totally exempted from tax
3. Incidence of tax is relatively higher of resident when compared with ‘non-resident’.
4. tax incidence is the lowest in the case of non-resident - Which income from the following is partially exempted?
Interest on certain government securities
2. Agricultural income
3. Shares from unregistered firm
4. Payment of lease rent - What percentage of tax is taxable on long-term capital gain arising from transfer of securities, bonds, units, debenture?
20 percent
2. 10 percent
3. 5 percent
4. 12 percent - What is mentioned under Sec- 44 AE of the Income Tax Act, 1961?
Expenses deductible from commission earned by insurance agents etc.
2. Special Provisions for Computing Profits and gains of small business of civil construction,etc
3. Special Provisions for Computing Profits and gains of business of plying, hiring or leasing goods carriages
4. Meaning of capital gains - Exemptions for newly established industrial undertaking in free trade zones is mentioned in which section?
Section 10(B)
2. Section 10 (BA)
3. Section 10(AA)
4. Section 10(A) - Which tax aims to subsume plethora of taxes into one single tax across the country and make goods uniformly priced across India?
Value Added Tax
2. Income tax
3. Sales tax
4. GST - Which of the following items is not exempted from GST?
Consultancy by doctors
2. Electricity and water
3. Pharmaceutical items
4. Payment of salaries - Rekha and Arjun entered into a contract where by Rekha agreed to sell Arjun Rs.1,000 worth of heroin, an illegal substance. Which type of a contract is this?
Voidable contract
2. Void contract
3. Unconstitutional contract
4. Unlawful contract - This type of contract involves a mutual agreement that comes into being after an unexpected occurrence, accident, or a natural calamity. In this type of contract both the parties have an element of risk. Identify the type of contract.
Express contract
2. Adhesion contract
3. Aleatory contract
4. Bilateral contract - Preeti is a person who is usually of unsound mind, but occasionally of sound mind. Can she make a contract?
She can always make a contract
2. No, she cannot make a contract
3. She can make a contract when she is sound mind
4. Cannot be determined - Identify which of the following statements is/are true?
There can be a stranger to a contract and consideration.
B. There can be a stranger to a contract.
C. There can be a stranger to consideration.
D. There cannot be a stranger to any contract.
1. A is true
2. D is true
3. B is true
4. C is true - Under which section of the contract act is ‘Agent’ defined?
Section 182
2. Section 172
3. Section 192
4. Section 152 - Which of the following is not an implied condition in a contract of sale ?
(a) Condition as to description
(b) Condition as to sample
(c) Condition as to undisturbed Possession
(d) Condition as to wholesomeness - Which documents contains the constitution of a company?
(a) Memorandum of Association
(b) Articles of Association
(c) Both (a) and (b)
(d) None of these - Which documents contains the regulations relating to the internal management of a company?
(a) Memorandum of Association
(b) Articles of Association
(c) Both (a) and (b)
(d) None - Which of the following are the functions of a promoter?
(a) Decides name of a company
(b) Nomination of directors
(c) Settles the details of memorandum and articles
(d) All of these - Which of the following company/companies are registered by the Companies Act, 2013?
(a) Government Company
(b) Private Company
(c) Public Company
(d) All of the above - The amount in the Unpaid Dividend Account of companies can be transferred to the Fund Investor Education and Protection Fund if it remains unpaid or unclaimed for a period of _____ years?
(a) 4
(b) 7
(c) 6
(d) 10 - The proper authority to call Extraordinary General Meeting of a Public Company
(a) Registrar of the Companies
(b) Court
(c) Board of Directors of the Company
(d) Central Government - Inside trading refers to trading in the scripts of a company by persons having access to___________ price sensitive information to make private gains or reduce losses.
Unpublished ,
2. Published
3. Analyzed
4. synthesized - Which of the following is not an individual component of systematic risk?
Market risk
2. Inflation risk
3. Interest rate risk
4. Purchasing power risk - What is the maturity term for most of the treasury bills when issued?
91 days
2. 60 days
3. 90 days
4. 81 days - Read the Assertion and Reasoning and select the correct option.
Assertion (A): The Reserve Bank of India is the apex organisation in the Indian money market.
Reasoning (R): In April, 1988, it set up the Discount and Finance House of India (DFHI) to perform the function of stablising the money market in India.
(A) and (R) both are correct ; and (R) is the right explanation of (A).
2. Both (A) and (R) are incorrect.
3. (A) is correct ; but (R) is incorrect.
4. (A) and (R) both are correct ; but (R) is not the right explanation of (A). - Determining optimum capital structure is a/an:
(a) Investment decision
(b) Financing decision
(c) Dividend decision
(d) Liquidity decision - Choose the correct statement .
GDRs is a convertible bond.
2. Portfolio investment is an investment where the foreign party does not seek control over the investment.
3. Foreign direct investment is an investment where the foreign party retains control over the investment.
4. FCCBs cannot be converted into GDRs. - The gold standard was the foundation of the International trading system because-
The gold is precious.
2. The gold is available everywhere.
3. The gold could easily be carried from one place to another.
4. The currency of the country was freely convertible into gold. - SDRs were created by IMF. What is the full form of SDR?
Special drawing rate
2. Special drawing rights
3. Standard Drawing Rates
4. Standard deviation rate - The difference between a country’s payments to foreigners and its receipts from foreigners is termed as–
Balance of supply
2. Balance of trade
3. Balance of payment
4. Balance of currency - The Heckscher – ohlin model is principally focused on what aspect of economics?
Internal Trade
2. Comparative advantages
3. International Trade
4. Demand and supply - If A is a matrix of order m × n and B is a matrix such that B’A and AB’ are both defined, then the order of matrix B is
1 m × m
2 n × n
3 n × m
4 m × n - The total cost function for a company is given by . The level of output for which MC = AC is1 15
2 12
3 10
4 6 - The marginal revenue and marginal cost functions of a firm are MR = 12 and MC = 4 + 0.08x respectively. If the fixed cost is Rs.100, the maximum profit that the firm can earn is:
1 Rs.100
2 Rs.200
3 Rs.250
4 Rs.300 - A man borrows Rs.30000 at 6% and promises to pay off the debt by making an annual payment of Rs.2615 beginning at the end of the first year. Find the number of instalments to pay off his debts.
1 19
2 20
3 21
4 22 - If interest is compounded continuously, at what annual rate will a principle of P double in 8 years?
1 3.67%
2 3.76%
3 4.6%
4 5.12% - The average height of 26 students is 158cm. If two boys of height 152cm and 164cm leave the group, the adjusted average height is:
1 150cm
2 158cm
3 160cm
4 172cm - If each and every value of a data set is increased by a constant, the variance of the resultant data set:
1 remains unchanged
2 increases proportionately
3 decreases proportionately
4 none of these - The probability based on the concept of relative frequency is called:
1 Empirical probability
2 Classical probability
3 Axiomatic Probability
4 Subjective Probability - If a random variable X follows Poisson Distribution such that P(X = 1) = P(X = 2) then the mean of the distribution is:
1 1
2 2
3 3
4 4 - When a population is heterogeneous, it is divided into groups, so that there is no homogeneity within the group and Heterogeneity between the groups, and some items are selected at random from each group it is a case of:
1 Cluster sampling
2 Chunk sampling
3 Stratified sampling
4 Multistage sampling - Let the two regression lines be 5x – 6y + 90 = 0 and 15x – 8y = 130. Then the correlation coefficient between x and y is:
1 2/3
2 4/9
3 8/15
4 5/6 - From the data given below, the chain base index for 2015 is:
Year 2013 2014 2015 2016 Fixed Base Index: 150 180 120 80 1 75
2 100
3 80
4 66.67 - The weights used in quantity index are:
1 Average prices
2 Percentage prices
3 Quantities
4 Prices - In the study of sales, a company obtained the following trend equation:
YC = 16 + 2X
[Origin: 2015; X units = one year; YC = total number of units sold]
By what year the company’s expected sales have equalled to its present capacity of 30 units?
1 2030
2 2025
3 2022
4 2020 - Strategic planning is done by the
1 Top management
2 Middle level management
3 Supervisory level management
4 All the above - Match the following :
List – I List – II
a) Three needs theory i) Mclelland
b) ERG theory ii) Clayton Alderfer
c) XY theory iii) Mc Gregor
d) Hygiene theory iv) F.Herzberg
1. a-iii, b-i, c-iv, d-ii
2. a-i, b-ii, c-iii, d-iv
3. a-ii, b-i, c-iv, d-iii
4. a-iv, b-iii, c-ii, d-i - Which is the correct sequence of needs, in hierarchy of Abraham Maslow’s needs theory? (Arrange among them in hierarchical order)
1 Self-actualisation → Social→Security→Physiological → Esteem
2 Esteem→Self-actualisation→ Social→Security→Physiological
3 Physiological → Security →Social → Esteem → Self -actualisation
4 Security→ Social→ Physiological → Esteem → Self – actualization - To safeguard this management principle of Henry Fayol gang plank method is used:
1 Unity of command
2 Unity of direction
3 Order
4 Scalar chain - The four systems of Management in terms of Leadership styles are related to
1 Blake and Mouton
2 Philip Kotler
3 Peter F. Drucker
4 Rensis Likert - When an individual is motivated to approach two or more positive but mutually exclusive goals, he is facing which one type of the following conflicts?
1 Approach – Approach Conflict
2 Approach – Avoidance Conflict
3 Avoidance – Avoidance Conflict
4 Person -Role Conflict - An entrepreneur who is neither willing to introduce new changes nor to adopt new methods is known as :
1 Adoptive Entrepreneur
2 Fabian Entrepreneur
3 Innovative Entrepreneur
4 Drone Entrepreneur - Which country has assumed the chairship of BRICS for the year 2021?
1 India
2 China
3 Brazil
4 Russia - Which body has submitted its recommendations to the Government of India for privatization of 12 public sector undertakings?
1 Planning Commission
2 NITI Aayog
3 DPIIT
4 Reserve Bank of India - As per the Budget 2021-22, what is the estimated Fiscal Deficit for the current financial year?
1 9.5%
2 7.0%
3 4.0%
4 2.0% - ‘Business Confidence Index’, which was making news recently, is released by which institution?
1 RBI
2 NABARD
3 NCAER
4 SEBI - 32. What is the name of the digital platform that would be used to track the beneficiaries for COVID vaccination in India?
1 Atmanirbhar System
2 Arogya Setu System
3 COWIN System
4 Serum System - Following is the example for convenience goods
1 Furniture
2 Soaps
3 Cars
4 LIC Policy - Which is the base for the concept of Marketing ?
1 Self-production
2 Coercion
3 Begging
4 Exchange - For cigarette marketing, which type of distribution channel is most suitable ?
1 0-level channel
2 1-level channel
3 2-level channel
4 3-level channel - ‘Skimming price’ is ideal in the following situations
i. Marketing of novel products
ii. When there are price-insensitive consumers.
iii. During the decline stage of PLC
iv. Customers are from low income group
1 i only
2 i and ii
3 i, ii and iii
4 All the above - Find the correct sequence of modern marketing
1 Targeting–Segmenting–Positioning
2 Segmenting–Positioning–Targeting
3 Segmenting–Targeting–Positioning
4 Positioning–Targeting–Segmenting - Match the following:
List – I
a. Content of a job’s duties and responsibilities
b. Movement of an employee from one job to the another
c. Adding duties and responsibilities that will provide for skill variety task identity and autonomy
d. Adding more and different tasks to a specialized job to provide greater variety
List – II
i. Job enlargement
ii. Job enrichment
iii. Job rotation
iv. Job design
1 a-i, b-ii, c-iii, d-iv
2 a-ii, b-iii, c-iv, d-i
3 a-iv, b-iii, c-ii, d-i
4 a-iii, b-ii, c-iv, d-i - Planned introduction of an employee to its job and the organization is called :
1 Training
2 Development
3 Induction
4 Promotion - An interview in which a group of interviewers questions the applicant is:
1 Mass interview
2 Panel interview
3 Situational interview
4 Computerised interview - Which of the following is not included under functions of Human Resource Management?
1 Planning
2 Organising
3 Profitability
4 Recruitment - Recruitment means:
1 Conducting interviews
2 Selecting fresh candidates
3 attracting candidates for job
4 appointing a new person - What is the degree of elasticity of demand in case the demand is represented by a straight line parallel to the y-axis:
1 e > 1
2 e = 0
3 e =
4 e < 1 - If the price consumption curve of a commodity is bending backwards, then the commodity must be
1 An inferior commodity
2 A perfectly elastic commodity
3 Normal commodity
4 Giffen goods - The slope of the iso-cost line is determined by
1 Prices of the two factors
2 Productivity of the two factors
3 Degree of substitutability of the two factors
4 None of these - AC curve keeps falling even after AVC curve reaches its minimum point because:
1 AFC is falling.
2 Rate of increase in AVC is greater than the rate of decrease in AFC.
3 Rate of increase is AVC is less than the rate of decrease in AFC.
4 None of these. - A normal profit :
1 is part of economic cost
2 has to be above economic cost in order to encourage output
3 is not a part of the economic costs that a firm incurs
4 is irrelevant to the production division of a firm - Goods X and Y are substitutes. A rise in price of good X is more likely to:
1 shift the demand curve for good X to the right
2 cause a leftward movement along the demand curve for good X
3 shift the demand curve for good X to the left
4 cause a rightward movement along the demand curve for good X. - A monopolist can decide:
1 quantity
2 price
3 either quantity or price
4 both quantity and price - When saving is greater than investment in a two-sector model,
1 Output should increase
2 Output should decrease
3 Output should not change
4 None of these - In GNP calculation which of the following should be excluded?
1 Rental incomes
2 Interest payments
3 Dividends
4 Government transfer payment - The reserve of assets maintained by the RBI to affect the money supply is called:
1 Cash reserve ratio
2 Monetary base
3 Liquidity reserves
4 Money supply - The less interest-sensitive is money demand,
1 the more effective is fiscal policy relative to monetary policy.
2 the more effective is monetary policy relative to fiscal policy.
3 the steeper is the IS curve.
4 the flatter is the LM curve. - A restrictive trade policy in a large open economy leads to no change in net exports because:
1 a reduction in imports results in an increased exchange rate which encourages imports and discourages exports.2 a reduction in imports results in a decreased exchange rate which encourages imports anddiscourages exports.
3 a reduction in imports results in an decreased exchange rate which encourages exports and discourages imports.
4 a reduction in imports results in an increased exchange rate which encourages exports and discourages imports. - In credit creation:
1 the primary deposit is the deposit made by the banks to the customer’s account
2 the secondary deposit is the deposit made by the banks to the customer’s account
3 the derivative deposit is the deposit made by the customer into his bank account
4 the demand deposits do not affect the level of credit - Suppose investment spending is not very sensitive to the interest rate. Given this information, we know that:
1 the IS curve should be relatively steep.
2 the IS curve should be relatively flat.
3 the LM curve should be relatively flat.
4 the LM curve should be relatively steep