- 16. Realization account is-
(a) Personal A/c
(b) Nominal
(c) Real
(d) Suspense
UP TGT – 2016 - 17. What is the Result of Payment of creditors-
(a) Increasing total assets
(b) Decreasing total assets
(c) Increasing total liability
(d) Decreasing total liability and total assets
UP TGT – 2016 - 19. Which of the following error is not hinderence to prepare Trial Balance ?
(a) Entry in wrong side of the Account
(b) Mistake in totaling of Account
(c) Compensatory error
(d) Mistake in balancing of account
UP TGT – 2016 - 22. Income and Expenditure shows-
(a) Gross profit
(b) Net profit
(c) Financial position
(d) None of these
UP TGT – 2016 - 36. “Book-keeping is the art of accounting in the monetary form of trading and other transaction.” This definition is given by :
(a) Spicer and Pegler
(b) J.R.Batliboi
(c) Carter
(d) John mekni
UP TGT – 2016 - 37. “Double Entry System is a system of book-keeping by means of both personal and impersonal accounts.” This definition is given by :
(a) William Pickles
(b) M.J. Keller
(c) R.N. Carter
(d) None of the above
UP TGT – 2016 - 38. The person who first published the principals of Double Entry System was-
(a) Lucas Paciolii
(b) Alfred Marshall
(c) F.W. Tayler
(d) Henry fayol
UP TGT – 2016 - 39. According to which concept, financial statements must disclose all the relevant information-
(a) Materiality Concept
(b) Dual aspect Concept
(c) Full disclosure Concept
(d) Consistency Concept
UP TGT – 2016 - 40. Stock is valued at :
(a) Cost Price
(b) Market Price
(c) Cost or market price, Whichever is less
(d) Cost or market price, Whichever is more
UP TGT – 2016 - 41. Columns are made in Journal Entries :
(a) 4
(b) 5
(c) 6
(d) 8
UP TGT – 2016 - 42. Machinery purchased In this journal entry machinery account will be :
(a) Debited
(b) Credited
(c) Debited and credited both
(d) None of the above
UP TGT – 2016 - 43. How many columns are there in Ledger:
(a) 5
(b) 7
(c) 8
(d) 10
UP TGT – 2016 - 44. Columns in Trial balance are :
(a) 8
(b) 5
(c) 4
(d) 2
UP TGT – 2016 - 45. Capital Account is ……………… account
(a) Personal
(b) Real
(c) Nominal
(d) None of the above
UP TGT – 2016 - 47.For preparing trial balance generally……………….. method is used :
(a) Total
(b) Balance
(c) Total and Balance
(d) None of the above
UP TGT – 2016 - 49. As per the rule of Garner versus Murray any loss of insolvent partner should be divided among other partner’s in their-
(a) Capital ratio
(b) Profit and loss sharing ratio
(c) Average ratio
(d) None of these
UP TGT – 2016 - 50. The Assets which are purchased to improve profitability in the business not for resale are called
(a) Wasting assets
(b) Current assets
(c) Fixed assets
(d) Intangible assets
UP TGT – 2016 - 51. Current liabilities are equal to-
(a) Current Assets – Working Capital
(b) Working Capital – Current Assets
(c) Current Assets + Working Capital
(d) None of these
UP TGT – 2016 - 53. Which of the following shows the position of a certain date :
(a) Trading Account
(b) Profit-Loss Account
(c) Manufacturing Account
(d) Balance Sheet
UP TGT – 2016 - 54. Which of the following is shown in the balance sheet
(a) Real Assets
(b) Artificial Assets
(c) Both the above
(d) None of the above
UP TGT – 2016 - 55. If outstanding expense have been shown in trial Balance then it will be shown in :
(a) Trading Account
(b) Profit & Loss Account
(c) Liability side of Balance sheet
(d) Asset side of Balance sheet
UP TGT – 2016 - 56. If prepaid rent is given in trial balance then it will be shown in :
trading account
(a) Trading Account
(b) Profit & Loss Account
(c) Liability side of Balance sheet
(d) Asset side of Balance sheet
UP TGT – 2016 - 57. If closing stock is given in adjustments then it will be shown in :
(a) Trading Account
(b) Asset side of Balance Sheet
(c) Both the above
(d) None of the above
UP TGT – 2016 - 60. In the absence of partnership deed the interest on loan of partner is give @……… annually .
(a) 5%
(b) 6%
(c) 10%
(d) 12%
UP TGT – 2016 - 61. Rights share means the share which are-
(a) Issued to existing shareholders of the company .
(b) Issued to directors of the company
(c) Issued to vendors of the company
(d) Issued to promoters of the company
UP TGT – 2016 - 63. When drawings are made at the end of every month, interest on drawing is charged for……………
(a) 5 months
(b) 6 months
(c) 5.5 months
(d) 6.5 months
UP TGT – 2016 - 64. Assets and Liabilities are ……….. to determine the amount of capital.
(a) revalued
(b) distributed
(c) sacrificed
(d) All the above
UP TGT – 2016 - 65. New partner pays the amount of ……………. to get a certain part in the profit of future.
(a) Amalgamation
(b) Goodwill
(c) Sacrifice
(d) All the above
UP TGT – 2016 - 66. Double entry system was introduced in-
(a) India
(b) Italy
(c) England
(d) None of these
UP TGT – 2016 - 67. When two or more firms combine with each other, it is called…………..
(a) Amalgamation
(b) absorption
(c) Reconstruction
(d) None of these
UP TGT – 2016 - 68. Gautam and Mahaveer r partners in a firm in the ratio of 5:3. They admitted Naveen as a partner for 1/5 share. The new profit sharing ratio of partners will be :
(a) 5:3:1
(b) 5:3:2
(c) 5:3:3
(d) None of the above
UP TGT – 2016 - 70. Profit sharing ratio of A,B and C is 5:3:2, on B’s retirement, the new profit- sharing ratio of A and C will be :
(a) 5:3
(b) 5:1
(c) 5:2
(d) 3:2
UP TGT – 2016 - 72. Goodwill of the share of retiring partner will be debited in the capital account of remaining partners in……….. ratio
(a) Sacrifice
(b) Gaining
(c) Old
(d) New
UP TGT – 2016 - 73. On the dissolution of partnership firm on transfer of assets, the realisation account is………………….
(a) Debited
(b) Credit
(c) Debited or credit
(d) All of the above
UP TGT – 2016 - 74. On amount due at allotment, the share allotment account is………..
(a) debited
(b) credited
(c) debited or credit
(d) Non of the above
UP TGT – 2016 - 75. On receiving first call money the bank account is………….
(a) debited
(b) credited
(c) debited or credited
(d) All the above
UP TGT – 2016 - 76. On forfeiture of shares, share capital account is…………
(a) credited
(b) debited
(c) Both the above
(d) None of the above
UP TGT – 2016 - 77. In case of share forfeiture, share forfeiture account is credited with :
(a) Received money
(b) Due money
(c) par value
(d) None of the above
UP TGT – 2016 - 78. After re-issue of forfeited shares the balance of share forfeiture money is transferred to…………
(a) Share Capital
(b) Capital Reserve
(c) Share allotment
(d) Share I call
UP TGT – 2016 - 79. Ram has 50 shares of Rs.100 each. On these shares Rs. 80 per share has been received. At non receiving final call money the shares were forfeited. In this condition the share forfeiture account will be credited by :
(a) Rs.5000
(b) Rs.4000
(c) Rs.2000
(d) None of the above
UP TGT – 2016 - 80. If share of face value of Rs.10 is sold at Rs. 12 then Rs.2 will be treated as:
(a) Premium
(b) Discount
(c) Rebate
(d) None of the above
UP TGT – 2016 - 81. When the Company Act was enacted-
(a) 1950
(b) 1952
(c) 1956
(d) 1958
UP TGT – 2016 - 82. How the payment to landlord is calculated :
(a) Royalty- Minimum Rent
(b) Minimum Rent-Royalty
(c) Minimum Rent-S.W. recouped
(d) Royalty or Minimum Rent, whichever is more S.W. recouped.
UP TGT – 2016 - 83. Minimum Rent is determined by which of the following:
(a) Time
(b) Area
(c) Time or Area
(d) Production
UP TGT – 2016 - 84. The balance of short working is shown in
(a) Debit side of profit & loss Account
(b) Credit side of profit & loss Account
(c) Asset Side of Balance Sheet
(d) Liability Side of Balance Sheet
UP TGT – 2016 - 85. Which of the following value is highest :
(a) Cash Price
(b) Hire Purchase Price
(c) Interest
(d) Depreciation
UP TGT – 2016 - 86. If purchaser does not pay the installments the seller
(a) Can file a suit of purchaser
(b) Can get back his commodity
(c) Can get compensation from purchaser
(d) All of the above
UP TGT – 2016 - 87. When does purchaser get ownership in hire purchase system :
(a) On signing the contract
(b) On paying 1 instalment
(c) On paying final instalment
(d) When seller wants
UP TGT – 2016 - 88. Which capital could be shown in Memorandum of Association-
(a) Issued capital
(b) Called up capital
(c) Authorised capital
(d) Paid up capital
UP TGT – 2016 - 93. Under instalment payment system, Asset Account is debited with cash price of asset and……. is debited with total amount of interest in the books of Buyer.
(a) Interest Account
(b) Interest Suspense Account
(c) Vendor Account
(d) All the above
UP TGT – 2016 - 117. Where book- keeping ends, accounting starts, where accounting ends the ……………. Starts.
(a) Auditing
(b) Watching
(c) Book-keeping
(d) All of the above
UP TGT – 2016 - 118. Which of the following is not a current assets:
(a) Debtor
(b) Pre-paid Expenses
(c) Stock
(d) Purchases
UP TGT – 2016 - 119. Frauds includes the following :
(a) Defalcation of cash
(b) Defalcation of goods
(c) Manipulation of Accounts
(d) All of above
UP TGT – 2016 - 120. “A continuous audit is one where the auditor’s staff is occupied continuously on the accounts the whole year round.” This definition is given by :
(a) R.G. William
(b) Spicer and Pegler
(c) Carter
(d) J.R. Batliboi
UP TGT – 2016 - 121. “Vouching means testing the truth of the items appearing in the books of original entry. “This definition is given by :
(a) De Paula
(b) Joseph Lancaster
(c) Batliboi
(d) Marshal
UP TGT – 2016
Audit
- 29. Internal Auditor is appointed by-
(a) Management
(b) Government
(c) Shareholders
(d) Workers
UP TGT – 2016 - 34. The ‘term’ Previous year means-
(a) Financial year
(b) Calendar year
(c) Account year
(d) Financial year before assessment year
UP TGT – 2016
Statistics
- 94. Statistics implies-
(a) Only data
(b) Only statistical methods
(c) Both the above
(d) None of these
UP TGT – 2016 - 95. Statistics Studies-
(a) Numerical facts
(b) Qualitative facts
(c) Both the above
(d) None of these
UP TGT – 2016 - 96. The word statistics is used in the form of……….
(a) Singular only
(b) Plural only
(c) Both the above
(d) None of these
UP TGT – 2016 - 97. Statistics men rightly be called the science of averages. This definition is given by
(a) Bowley
(b) Boddington
(c) P.H. Karmel
(d) None of these
UP TGT – 2016 - 98. Data originally collected for an investigation are known as-
(a) Primary data
(b) Secondary data
(c) Original data
(d) None of these
UP TGT – 2016 - 99. The data obtained from Economic Times are :
(a) Primary
(b) Secondary
(c) Both the above
(d) None of these
UP TGT – 2016 - 100. Primary data are compared to secondary data are-
(a) Less reliable
(b) More reliable
(c) Equally reliable
(d) None of these
UP TGT – 2016 - 101. The heading of a row in a statistical table is known as
(a) Stab
(b) Caption
(c) Title
(d) None of these
UP TGT – 2016 - 102. In an Exclusive series-
(a) Both the class limits are considered
(b) The lower limit is excluded
(c) Both the limits are excluded
(d) The upper limit is excluded
UP TGT – 2016 - 103. When both lower and upper limit are considered, such classes are called-
(a) Exclusive
(b) Inclusive
(c) Open-end classes
(d) Cumulative
UP TGT – 2016 - 104. The grouping of relating facts into classes is called-
(a) Diagram
(b) Graph
(c) Classification
(d) Tabulation
UP TGT – 2016 - 105. One of the measure of central tendency is:
(a) Mode
(b) Measure of Dispersion
(c) Measure of skewness
(d) Mean Deviation
UP TGT – 2016 - 106. The suitable measure of central tendency of average in readymade garments is:
(a) Arithmetic mean
(b) Median
(c) Mode
(d) Geometric mean
UP TGT – 2016 - 107. How many quartiles can be calculated in a series ?
(a) 2
(b) 3
(c) 4
(d) None of these
UP TGT – 2016 - 108. The mean of 15 numbers is 15, if the two numbers are 18 and 12 are excluded then the mean of the remaining number is :
(a) 10
(b) 12
(c) 15
(d) 25
UP TGT – 2016 - 109. The arithmetic mean of 9, 17 and 91 is :
(a) 17
(b) 91
(c) 9
(d) 39
UP TGT – 2016 - 110. With the help of Median and Arithmetic Mean the formula to derive Mode is:
(a) Z=4M-X
(b) Z=2M-X
(c) Z=3M-2X
(d) Z= M-4X
UP TGT – 2016 - 111. The geometric mean of two numbers 8 and 18 will be:
(a) 12
(b) 13
(c) 14
(d) 15
UP TGT – 2016 - 112. In the case of equal size of items :
(a) XG.M.>H.M.
(c) X=G.M. = H.M.
(d) None of these
UP TGT – 2016 - 113. For measuring the dispersion, the ideal method is :
(a) Mean deviation
(b) Standard deviation
(c) Quartile deviation
(d) Moving average
UP TGT – 2016 - 114. Coefficient of range can be any one of the following:
(a) (Z_S)/(Z-S)
(b) (Z_S)/(Z-S)
(c) (Z_S)/2
(d) (Z_S)/2
UP TGT – 2016 - 115. If variance is 144 then standard deviation will be-
(a) 12
(b) 44
(c) 6
(d) 72
UP TGT – 2016 - 116. If arithmetic mean is 25 and standard deviation is 6.25 the co-efficient of variation will be :
(a) 20
(b) 25
(c) 30
(d) 50
UP TGT – 2016
Business Organization
- 15. The main function of business office is :
(a) To keep safe the letters for future
(b) To calculate the salary etc of employees
(c) To keep safe, records and letters for future
(d) None of the above
UP TGT – 2016 - 18. Foreign Bank Draft is used :
(a) In domestic trade
(b) In local trade
(c) In foreign trade
(d) All the above
UP TGT – 2016 - 20. Forms of business organization are :
(a) Sole Trade
(b) Partnership
(c) Company
(d) All of the above
UP TGT – 2016 - 21. The minimum number of members in private company is :
(a) 10
(b) 7
(c) 5
(d) 2
UP TGT – 2016 - 23. When Indian Partnership Act was made :
(a) 1930
(b) 1932
(c) 1950
(d) 1956 - 24. The minimum numbers of members of public company are———
(a) 2
(b) 3
(c) 5
(d) 7
UP TGT – 2016 - 33. The methods of advertising are :
(a) By Television
(b) By Radio
(c) By News Papers
(d) All of the above
UP TGT – 2016 - 58. At least ……. persons are essential in partnership :
(a) 3
(b) 2
(c) 10
(d) 20
UP TGT – 2016 - 59. In general partnership business the maximum number of members is ……….
(a) 5
(b) 10
(c) 20
(d) 40
UP TGT – 2016 - 62. The liability of partners are …………………
(a) Limited
(b) Unlimited
(c) Limited and unlimited both
(d) None of the above
UP TGT – 2016 - 69. Who said “profit is the gift of risk”
(a) Henry Ford
(b) Prof. Tomus
(c) Prof. Terry
(d) Prof. Diksi
UP TGT – 2016 - 71. Which form of Business organization is for secrecy-
(a) Sole Trade
(b) Company
(c) Partnership
(d) Co-operative company
UP TGT – 2016
Management
- 1. Top level Management includes :
(a) Board of Directors
(b) President and Board of Directors
(c) Managing Director
(d) All of the above
UP TGT – 2016 - 2. Management may be assumed profession because :
(a) It is a science
(b) It is an art
(c) It is for purposeful
(d) It can be received by education and training
UP TGT – 2016 - 3. Management is :
(a) Only science
(b) Only art
(c) Only Behaviour
(d) Science and art both
UP TGT – 2016 - 4. The name of specific process of establishing effective co-ordination in different parts of business is
(a) Management
(b) Business management
(c) Organisation
(d) None of the these
UP TGT – 2016 - 5. The Characteristic of Management is :
(a) Management is a process
(b) Management is a social process
(c) Management is collective process
(d) All of the above
UP TGT – 2016 - 6. The work of supervision and direction of activities of employees is in :
(a) Middle management
(b) Low level management
(c) Top level management
(d) None of these
UP TGT – 2016 - 7. Supervisor is said to those persons.
(a) Who assign the work of employees
(b) Who gives the direction to employees regarding work
(c) Who see the qualities of product
(d) All of all the above
UP TGT – 2016 - 8. For increasing the rate of capital formation in India it is essential to have…..
(a) Organisation
(b) Efficient management
(c) Unskilled management
(d) None of these
UP TGT – 2016 - 9. The base of planning is :
(a) Motivation
(b) Control
(c) Forecasting
(d) Organisation
UP TGT – 2016 - 10. The element of planning is :
(a) Authority
(b) Communication
(c) Leadership
(d) Programming
UP TGT – 2016 - 11. Control is based on :
(a) Organisation
(b) Interference
(c) Planning
(d) Coordination
UP TGT – 2016 - 12. Control is applied
(a) On low level management
(b) On middle level management
(c) On top level management
(d) On all levels of management
UP TGT – 2016 - 13. The base of Primary and Secondary functions of management :
(a) Decision- Making
(b) Organisation
(c) Planning
(d) Direction
UP TGT – 2016 - 14. The Function of Human Resource Management is :
(a) Recruitment and selection of employees
(b) Financial Panning
(c) Planning Process
(d) Market investigation
UP TGT – 2016 - 123. “Management is simply the process of planning and regulating the activities of any enterprise.” This definition is given by
(a) E.F.L. Brech
(b) Lawrence
(c) Thiyo Heman
(d) None of the above
UP TGT – 2016 - 124. “Management is simply the process of decision making and control over the action of human being for the express purpose of attaining predetermined goals.” This definition is given by
(a) James L. Landi
(b) Stanley vence
(c) Prof. Kimball & Kimball
(d) Peter F. Drucker
UP TGT – 2016 - 125. Management includes the following:
(a) Production management
(b) Financial management
(c) Purchase management
(d) All of the above
UP TGT – 2016
Economics
- 25. “Economic is the science of wealth” This definition is given by :
(a) Adam Smith
(b) Marshal
(c) Robbins
(d) None of the above
UP TGT – 2016 - 27. “Demand is an amount of a thing which a person is willing to buy at a given price.” This definition is given by……………
(a) Prof. Penson
(b) Prof. J.S.Mill
(c) Prof. Benham
(d) Prof. Mayers
UP TGT – 2016 - 28. Main factors affecting demand are :
(a) Utility of the goods
(b) Income level
(c) Price of goods
(d) All of the above
UP TGT – 2016 - 30. When there is minor change in price of commodity and a great change in demand, the demand of such a commodity is-
(a) Perfect inelastic
(b) Perfect elastic
(c) Inelastic
(d) Elastic
UP TGT – 2016 - 31. Types of Law of production are :
(a) Production Increasing Law
(b) Production constant Law
(c) Production Decreasing Law
(d) All the above
UP TGT – 2016 - 35. “Perfect competition is a market in which there are many firms selling identical products with no firm large enough relative to the entire market to be able to influence market price.” This definition is given by:
(a) Mrs. Joan Robinson
(b) Prof. Left Witch
(c) Prof. Adam Smith
(d) Prof. Marshal
UP TGT – 2016
Money
Banking
- 26. The largest bank of India –
(a) Central Bank of India
(b) State Bank of India
(c) Bank of Baroda
(d) Indian Overseas Bank
UP TGT – 2016 - 32. Which of the following works is not done by R.B.I. ?
(a) Issue of Notes
(b) Creation of credit
(c) To protect for an exchange fund
(d) Control of credit
UP TGT – 2016 - 46. Repo Rate is the rate at which-
(a) Banks take money from the RBI
(b) RBI Tex money from Banks
(c) The govt. takes money from RBI
(d) One Bank takes money from another Bank
UP TGT – 2016 - 48. Which bank’s old name was ‘imperial Bank’-
(a) Union Bank of India
(b) State Bank of India
(c) Punjab National Bank
(d) Central Bank of India
UP TGT – 2016 - 89. In India, one Rupee Note is issued by-
(a) Reserve Bank of India
(b) State Bank of India
(c) Finance Ministry of Govt. of India
(d) None of these
UP TGT – 2016 - 92. Head Quarter of Reserve Bank of India is situated in-
(a) Delhi
(b) Mumbai
(c) Kolkata
(d) Chennai
UP TGT – 2016
Indian Economy
- 52. Who is the chairman of the planning Commission-?
(a) President
(b) Vice President
(c) Finance Secretary
(d) Prime Minister
UP TGT – 2016 - 90. Which of the following class is badly affected by inflation-
(a) Higher class
(b) Lower class
(c) Investors
(d) Doctors
UP TGT – 2016 - 91. NABARD was established on-
(a) 1 July 1980
(b) 1 March 1982
(c) 12 July 1982
(d) 14 July 1983
UP TGT – 2016 - 122. Which of the following organization was established first-
(a) Industrial development Bank of India
(b) Unit trust of India
(c) Industrial finance corporation
(d) Industrial credit and investment corporation
UP TGT – 2016