UP TGT COMMERCE 2019 – Series B
Accounting
- 9. Which of the following is the base for preparing trial balance
(a) Journal
(b) Ledger
(c) Cash Book
(d) Balance sheet
UP TGT – 2019 - 16. Outstanding Expenses Account is :
(a) Income and Expenditure Account
(b) Nominal Account
(c) Personal Account
(d) Real Account
UP TGT – 2019 - 19. Journal is a book of :
(a) First entry
(b) Original entry
(c) Date wise entry
(d) All of the above
UP TGT – 2019 - 21. The partners of a registered firm can file a suit :
(a) Against the firm
(b) Against other partners
(c) Against third parties
(d) All of the above
UP TGT – 2019 - 22. On the admission of a new partner, the increase in the value of an asset is credited to
(a) Profit and Loss Account
(b) Asset Account
(c) Old Partners Capital Account
(d) Revaluation Account
UP TGT – 2019 - 25. In financial accounting, ledger posting is a process of :
(a) Summarising
(b) Classifying
(c) Recording
(d) Interpreting
UP TGT – 2019 - 26. Transferring entries from journal to ledger account is commonly known as
(a) Recording
(b) Transferring
(c) Posting
(d) Entering
UP TGT – 2019 - 31. When the partnership firm is dissolved, the following account is opened in the books of firm
(a) Revaluation account
(b) Profit and loss adjustment account
(c) Realisation account
(d) Profit and loss appropriation account
UP TGT – 2019 - 34. Accounting process does not include :
(a) Recording
(b) Classifying
(c) Simplifying
(d) Summarising
UP TGT – 2019 - 37. Total of the two sides of account and to find out the difference is called :
(a) Totaling
(b) Trialing
(c) Balancing
(d) Analysing
UP TGT – 2019 - 38. The accounting concept that is used to prepare the Profit and Loss Account is known as:
(a) cost
(b) Realisation
(c) Matching
(d) Disclosure
UP TGT – 2019 - 41. A journal entry, in which two or more accounts are debited/credited, is known as
(a) Double entry
(b) Multi entry
(c) Additional entry
(d) Compound entry
UP TGT – 2019 - 44. The salary paid to a clerk Ramesh should be credit to
(a) Ramesh’s Account
(b) Salary Account
(c) Cash Account
(d) Profit and Loss Account
UP TGT – 2019 - 46. The primary function of the book-keeping is to
(a) Designing the system of recording the transactions
(b) Assigning the responsibility to accountant
(c) Recording of financial data
(d) Classifying the recorded data
UP TGT – 2019 - 51. Cash discount allowed to a debtor should be credited to
(a) Discount Account
(b) Customer’s Account
(c) Sales Account
(d) Purchases Account
UP TGT – 2019 - 52. In the case of hire purchase, assets account is debited with
(a) Hire purchase price
(b) Cash price
(c) Cost price of the seller
(d) None of the above
UP TGT – 2019 - 54. The effect of surrender of shares is the same as of shares :
(a) Issue
(b) forfeiture
(c) Re- issue
(d) None of these
UP TGT – 2019 - 56. A new partner brings in cash as his share of goodwill this amount will be distributed among old partners in:
(a) Old profit sharing ratio
(b) Equal ratio
(c) Ratio of capitals
(d) Sacrifice ratio
UP TGT – 2019 - 59. The return of goods by a customer is debited to:
(a) Sales Return Account
(b) Customer’s Account
(c) Purchases Account
(d) Stock Account
UP TGT – 2019 - 60. In case of ‘installment payment system’ total interest receivable by the seller is credited to
(a) Interest Suspense Account
(b) Interest Account
(c) Sales Account
(d) None of the above
UP TGT – 2019 - 68. Cash withdrawn by the proprietor for his personal use should be debited to
(a) Sales account
(b) Capital account
(c) Drawings account
(d) Both (b) and (c)
UP TGT – 2019 - 70. A cash discount received is entered on the three column cash book on :
(a) Debit side
(b) Credit side
(c) No Entry is made
(d) Written as a note
UP TGT – 2019 - 71. Which one of the following statements is not true?
(a) In the absence of partnership deed profit and loss is distributed among partners in equal ratio.
(b) Minor partner can get his share of profit.
(c) The relation between partners are created through deed.
(d) Registration of partnership is compulsory.
UP TGT – 2019 - 74. Which one of the following statements is not true ?
(a) The job of book-keeping is analytical in nature
(b) Book-keeping is an art as well as a science of recording business transactions. (c) Transactions are recorded in a certain set of books.
(d) Book-keeping is the method of recording in account books.
UP TGT – 2019 - 76. After re-issue of forfeited shares balance of share forfeiture account is transferred to:
(a) General Reserve Account
(b) Profit and Loss Account
(c) Security Premium Account
(d) Capital Reserve Account
UP TGT – 2019 - 77. Which one of the following statements is not true?
(a) The object of trial balance is to test the accuracy of the books.
(b) Trial balance provides basis for preparation of final accounts.
(c) Errors of principals do not affect the agreement of the trial balance.
(d) Compensatory errors are also known as equalising errors.
UP TGT – 2019 - 79. M/s Stationery Mart will debit the purchase stationery to:
(a) General Expenses A/c
(b) Purchases A/c
(c) Stationery A/c
(d) None of the above
UP TGT – 2019 - 80. The main objective of Book-keeping is to :
(a) Find out profit or loss
(b) Keep correct and complete record of business transactions
(c) Show the correct position of assets and liabilities
(d) Examine the accuracy of business transactions
UP TGT – 2019 - 81. Revenue from sale of products ordinarily reported as part of earning in the period in which :
(a) The sale is made
(b) The cash is collected
(c) The order is received
(d) The cheque is received
UP TGT – 2019 - 83. Break even analysis is also known as :
(a) Cost volume profit analysis
(b) Cost benefit analysis
(c) Incremental analysis
(d) None of these
UP TGT – 2019 - 84. Which one of the following errors affect the trial balance ?
(a) A bill receivable, received from P for Rs. 1,200 was found entered in the Bills Payable Day Book as Rs. 2,100
(b) A sum of Rs. 300 received from the estate of an insolvent debtor was found credited to his account which was already written of as bad.
(c) Rs. 800 owned by a debtor was committed to be included in the schedule of debtors
(d) Old machinery sold on credit for Rs. 700, was passed through the sales book.
UP TGT – 2019 - 85. If credit side of a bank account is greater than debit side, it indicates :
(a) Bank overdraft
(b) Cash at bank
(c) Bank balance
(d) Current asset
UP TGT – 2019 - 86. Sale of furniture by a furniture dealer for cash is debited to :
(a) Cash account
(b) Sales account
(c) Furniture account
(d) None of the above
UP TGT – 2019 - 89. Shortworking means
(a) Excess of minimum rent over royalty
(b) Excess of royalty over minimum rent
(c) Surplus of royalty
(d) Excess of actual rent over minimum rent
UP TGT – 2019 - 91. Sales book is a record of :
(a) Only cash sales of goods
(b) Only sales of assets
(c) Only credit sales of goods
(d) All sales
UP TGT – 2019 - 93. The amount spent to increase the earning capacity of a business is :
(a) Capital loss
(b) Deferred revenue expenditure
(c) Revenue expenses
(d) Capital expenditure
UP TGT – 2019 - 100. Which one of the following is not a clerical error?
(a) Error of omission
(b) Error of commission
(c) Error of principal
(d) Compensating error
UP TGT – 2019 - 101. Part of capital which can be called-up at the time of winding of company is called :
(a) Reserve capital
(b) Uncalled capital
(c) Issued capital
(d) Authorised capital
UP TGT – 2019 - 105. Under Royalty Accounts, if there is strike for a certain period then :
(a) Royalty is reduced proportionally
(b) Shortworking is reduced proportionally
(c) Minimum rent is reduced proportionally
(d) All of the above
UP TGT – 2019 - 106. When subsidiary books are maintained, the entry for special discounts to customers is done in :
(a) Journal
(b) Sales book
(c) Cash book
(d) None of these
UP TGT – 2019 - 109. The surplus of deficit revealed by income and expenditure account is transferred to
(a) Receipts and payments account
(b) Profit and loss account
(c) Capital account
(d) Capital fund
UP TGT – 2019 - 111. Which one of the following error do not affect the agreement of trial balance?
(a) Casting and posting errors
(b) Amount omitted from trial balance
(c) Recording of asset as expense
(d) Omission of an entry into ladger
UP TGT – 2019 - 116. The persons who sign the Memorandum of Association of a company are called:
(a) Shareholders
(b) Directors
(c) Subscribers of Memorandum of Association
(d) Promoters
UP TGT – 2019 - 119. The purpose of ledger is to
(a) Classify the transactions
(b) Grouping the transactions
(c) Find balance in each account
(d) All of the above
UP TGT – 2019 - 120. The unfavourable balance of Profit and Loss Account should be:
(a) Added in liabilities
(b) Subtracted from assets
(c) Subtracted from capital
(d) None of the above
UP TGT – 2019 - 122. On dissolution of a firm, the balance of provision for Bad Debts Account is transferred to
(a) General Reserve Account
(b) Debtors Account
(c) Realisation Account
(d) Partner’s Capital Account
UP TGT – 2019
Auditing
- 3. An Auditor makes effort to detect mainly following types of fraud
(a) Misappropriation of cash
(b) Misappropriation of goods
(c) Frauds in books of accounts
(d) All of the above
UP TGT – 2019 - 12. Under vouching, checking is done of
(a) Books of original entry
(b) Final books of accounts
(c) Balance sheet
(d) All of the above
UP TGT – 2019 - 28. The objective of vouching is :
(a) Getting knowledge of business transactions
(b) Getting knowledge of non-business transactions
(c) (a) and (b) both
(d) None of the above
UP TGT – 2019 - 30. The process that entails a proper and rational distribution of work between the members of the staff of the organisation is called :
(a) Internal Audit
(b) Internal Check
(c) Internal Evaluation
(d) Internal Management
UP TGT – 2019 - 92. Which of the following document is not relevant for vouching cash sales?
(a) Daily cash sales summary
(b) Monthly statements sent to customers
(c) Salesmen’s statement
(d) Bank statement
UP TGT – 2019 - 98. Vouching is concerned with:
(a) Verification of authority and authenticity of transaction
(b) Validity of documentary evidences
(c) Accuracy of recorded entries and postings in books
(d) All of above
UP TGT – 2019 - 102. Latin word “audire” means
(a) To adjust
(b) To dare
(c) To hear
(d) To here - 103. Which is not the objective of Auditing ?
(a) Recording of original entries
(b) Verification of financial statements
(c) Detection of errors
(d) Detection of roads frauds - 104. In a company, internal Auditors is appointed by :
(a) Board of Directors
(b) Shareholders
(c) Government
(d) Creditors - 107. A scheme of work to be done by the auditor is called :
(a) Audit system
(b) Audit survey
(c) Audit program
(d) Audit guidelines
UP TGT – 2019 - 112. Auditor gives report on :
(a) Truthfulness of accounts
(b) Fairness of accounts
(c) Validity of accounts
(d) All of these
UP TGT – 2019 - 123. Which one of the following is not an objective of auditing
(a) Detection of errors
(b) Verification of accounts
(c) Punishment of frauds
(d) Preventions of frauds
UP TGT – 2019
Statistics
- 5. Which of the following is not a measure of dispersion ?
(a) Skewness
(b) Standard deviation
(c) Mean deviation
(d) Range
UP TGT – 2019 - 8. Classification of data may be
(a) Geographical
(b) Qualitative
(c) Quantitative
(d) All of the above
UP TGT – 2019 - 20. Classification on the basis of income, production, weight etc. is known as
(a) Geographical classification
(b) Quantitative classification
(c) Continuous classification
(d) Qualitative classification
UP TGT – 2019 - 32. Tally sheets are used to determine
(a) Class limits
(b) Frequency of each class
(c) Number of classes
(d) Continuous series
UP TGT – 2019 - 48. Which of the following averages can not be calculated with the help of graphic presentation
(a) Arithmetic mean
(b) Quartiles
(c) Median
(d) Mode
UP TGT – 2019 - 49. Sound pollution arises when sound wave exceeds
(a) 20-30 decibels
(b) 30-40 decibels
(c) 40-50 decibels
(d) None of these
UP TGT – 2019 - 66. Which one of the following is relative measure of dispersion
(a) Mean deviation
(b) Standard deviation
(c) Coefficient of variation
(d) Variance
UP TGT – 2019 - 67. With the help of Ogive curve, we can estimate:
(a) Arithmetic mean
(b) Mode
(c) Median
(d) All of the above
UP TGT – 2019 - 99. Which of the following is not a method of collecting primary data?
(a) Direct interview
(b) Indirect interview
(c) National publications
(d) Questionnaire method
UP TGT – 2019 - 108. The middle value of an ordered array of numbers is the
(a) Mode
(b) Mean
(c) Median
(d) Quartile
UP TGT – 2019 - 115. In a questionnaire, how many answers should be the there for simple alternative questions?
(a) Three
(b) Two
(c) No
(d) Many
UP TGT – 2019
Business Organization :- UP TGT Commerce 2019
- 1. The best means of increasing sale of an article is
(a) Exhibition
(b) Fairs
(c) Advertisement
(d) None of these
UP TGT – 2019 - 18. Advertising objectives do not include
(a) Informing consumers
(b) Changing attitudes
(c) Making entertainment
(d) Developing awareness
UP TGT – 2019 - 15. Every company has to file with registrar, a copy of
(a) Articles of Association
(b) Prospectus
(c) Memorandum of Association
(d) None of the above
UP TGT – 2019 - 24. Under which of the cost differences international trade would not take place ? (a) Equal
(b) Comparative
(c) Absolute
(d) All of these
UP TGT – 2019 - 27. Advertising can become life and death matter under which market structure ?
(a) Duopoly
(b) Perfect market
(c) Oligopoly
(d) Monopoly
UP TGT – 2019 - 33. Personal selling is not targeted towards
(a) Mass audiences
(b) Personal contact
(c) Two way communication
(d) Quick feedback
UP TGT – 2019 - 40. Personal selling includes :
(a) Oral communication
(b)Face to face interaction
(c) Conversation with customers
(d) All of the above
UP TGT – 2019 - 47. Section 2(36) of Companies Act is related to
(a) Memorandum
(b) Prospectus
(c) Articles
(d) Incorporation
UP TGT – 2019 - 50. Which one of the following is not a part of organised money market ?
(a) Central Bank
(b) Commercial Banks
(c) Indigenous bankers
(d) Regional Rural Banks
UP TGT – 2019 - 57. General rules and regulations for the performance of office work are specified in
(a) Organisations Manual
(b) Office Manual
(c) Organisation Chart
(d) Management Guidelines
UP TGT – 2019 - 125. Which among the following is a function of modern office ?
(a) Receiving Information
(b) Giving Information
(c) Public Relations
(d) All of the above
UP TGT – 2019
Management
- 2. The concept of management by objectives was propagated by:
(a) Herald koontz
(b) Ralph Davis
(c) H.L. Gantt
(d) Peter F Ducker
UP TGT – 2019 - 10. Selection of best alternatives is an important step in
(a) Planning
(b) Decision making
(c) Forecasting
(d) Implementation
UP TGT – 2019 - 11. Hawthome experiments was conducted by :
(a) George Elton Mayo
(b) George Elizabeth Mayo
(c) George Ezen Mayo
(d) George Mayo
UP TGT – 2019 - 14. Co-ordination involves :
(a) Forecasting
(b) Unity of purpose
(c) Selection of staff
(d) All of these
UP TGT – 2019 - 42. “Management is an organ, which can be defined only through functions” – This definition is given by :
(a) Adam Smith
(b) George terry
(c) Peter F. Drucker
(d) Henry Faylo
UP TGT – 2019 - 45. System approach is not propagated by :
(a) W.G. Scott
(b) Robert
(c) Peter Drucker
(d) J.D. Thompson
UP TGT – 2019 - 65. Which one of the following is not a part of Hawthorne experiments? (a) Illumination
(b) Mass interviewing
(c) Bank wiring observation room
(d) Mass assembly room
UP TGT – 2019 - 73. Mc Gregor has propounded
(a) Theory X
(b) Theory Y
(c) Theory ‘X’ and theory ‘Y’ both
(d) None of the above
UP TGT – 2019 - 78. Mr. ‘X’ is marketing manager of TCS. He is
(a) First level manager
(b) Middle level manager
(c) Top level manager
(d) None of the above
UP TGT – 2019 - 110. ‘Management is the function of executive leadership everywhere’- This definition is given by :
(a) P. Kotler
(b) H. Koontz
(c) R. C. Davis
(d) O Donnel
UP TGT – 2019
Economics
- 29. Exception to the law of demand is :
(a) Diminishing marginal utility
(b) Giffen paradox
(c) Different uses of products
(d) Price of substitute goods
UP TGT – 2019 - 35. The relationship between values of money and general price level is
(a) Direct
(b) Inverse
(c) Indirect
(d) Proportional
UP TGT – 2019 - 43. Restricting competition is a :
(a) Unfair trade practice
(b) Monopolistic trade practice
(c) Restrictive trade practice
(d) All of these
UP TGT – 2019 - 53. The elasticity of demand at the mid-point on a straight demand line is
(a) Zero
(b) Equal to one
(c) More than one
(d) Less than one
UP TGT – 2019 - 58. Which of the following is not an attribute of production function ?
(a) Flow concept
(b) State of technology
(c) Quantity of inputs
(d) State of inputs
UP TGT – 2019 - 72. One of the following is a feature of perfect market structure
(a) Entry barriers
(b) Interdependence
(c) Absence of selling costs
(d) Non- price competition
UP TGT – 2019 - 75. Demand of furniture is a
(a) Consumer’s demand
(b) Durable demand
(c) Producer’s demand
(d) Both (a) and (b)
UP TGT – 2019 - 82. Which one of the following is a feature of monopolistic competition ?
(a) Heavy advertisement
(b) Non-price competition
(c) Interdependent firms
(d) Price competition
UP TGT – 2019 - 88. Who is called father of Economics ?
(a) Max Muller
(b) Carl Marx
(c) Adam Smith
(d) Samuelson
UP TGT – 2019 - 95. In which market structure, the demand is perfectly elastic ?
(a) Duopoly
(b) Perfect competition
(c) Monopoly
(d) Oligopoly
UP TGT – 2019 - 97. Utility derived from consumption of an additional unit of a good is called
(a) Total utility
(b) Marginal utility
(c) Additional utility
(d) Derived utility
UP TGT – 2019 - 113. Which media is useful to for illiterate consumers ?
(a) Print media
(b) Broadcast media
(c) Posters Hoardings
(d) Transit means
UP TGT – 2019 - 114. The relationship between rate of inputs of productive services and the rate of output is known as :
(a) Production function
(b) Utility function
(c) Supply functional
(d) None of these
UP TGT – 2019 - 117. Law of Demand states that:
(a) There is always a direct relationship between price and quantity demanded
(b) There is always an inverse relationship between price and quantity demanded
(c) There is always a direct relationship between desire and demand
(d) There is no relationship between price and quantity demanded
UP TGT – 2019 - 121. The law of diminishing marginal utility was propagated by :
(a) H. H. Gossen
(b) Alfred Marshall
(c) Gossen and Marshall
(d) None of these
UP TGT – 2019 - 124. Which of the following statements is true ?
(a) When the total utility is maximum marginal utility is zero
(b) When total utility decreases, marginal utility remains constant
(c) Total utility and marginal utility are not inter related
(d) All of the above
UP TGT – 2019
Money
- 4. Which of the following is not a social evil of the money
(a) Trade cycles
(b) Fraud
(c) Murders
(d) Corruption
UP TGT – 2019 - 39. Which of the following is not a function of money
(a) Medium of exchange
(b) Storage of value
(c) Stabilisation of prices
(d) Unit of measurement
UP TGT – 2019 - 55. According to traditional approach of money is normal sense includes
(a) Currency
(b) Currency and demand deposits
(c) Currency and banks deposits
(d) All liquid assets
UP TGT – 2019 - 69. Nearness of near money depends on
(a) Legality
(b) Profitability
(c) Validity
(d) Liquidity
UP TGT – 2019 - 87. Value of money refers to
(a) Gold purchased by money
(b) General purchasing power of money
(c) Demand for money
(d) Value intrinsic in money
UP TGT – 2019 - 94. “Money is the pivot around which the economic science clusters” this statement was stated by:
(a) Adam Smith
(b) Alfred Marshal
(c) J.M. Keynes
(d) Koutilya
UP TGT – 2019 - 96. “Bad money drives good money out of circulation” The propounder of this statement was:
(a) J. M. Keynes
(b) Thomas Gresham
(c) Samuelson
(d) Crowther
UP TGT – 2019 - 118. “Money is what money does” who said this?
(a) Walker
(b) Robertson
(c) Crowther
(d) Paul Einzig
UP TGT – 2019
Banking
- 6. In India ‘lender of Last Resort’ is called
(a) Reserve Bank of India
(b) Government of India
(c) NABARD
(d) State Bank of India
UP TGT – 2019 - 36. Which of the following limits the power of credit creation by Commercial Banks ?
(a) Fiscal policy
(b) Banking Laws
(c) REPO rates
(d) Business Pessimism
UP TGT – 2019 - 62. Which statement is false with reference to dead stock of a bank?
(a) They yield no profit to bank
(b) These include furniture and buildings
(c) These are used to increase reputation
(d) These are non- performing assets
UP TGT – 2019
Indian Economy
- 7. Planning Commission of India is replaced by
(a) Finance Commission
(b) Indian planning Board
(c) NITI Aayog
(d) NITI panel
UP TGT – 2019 - 13. The full form of CIF is
(a) Cost, Insurance and Freight
(b) Cost, Insurance and Flight
(c) Company, Insurance and Freight
(d) Company, Investment and Freight
UP TGT – 2019 - 17. Which of the following statement is true in relation to Indian Agriculture?
(a) Labour productivity is low in agriculture
(b) Land holding size is big
(c) Government procures the whole agricultural produce
(d) All of the above
UP TGT – 2019 - 23. Density of population means number of persons per :
(a) Square foot
(b) Square Metre
(c) Square inch
(d) Square kilometer
UP TGT – 2019 - 61. Charter party is used
(a) in export rate trade
(b) in import trade
(c) in internal trade
(d) none of these
UP TGT – 2019 - 63. One of the problems of India’s foreign Trade is
(a) Payment of importers in rupees
(b) Increasing quantity of exports
(c) Unfavorable terms of trade
(d) None of the above
UP TGT – 2019 - 64. 1991 crisis in India economy was originated from
(a) Domestic sector
(b) External sector
(c) Both (a) and (b)
(d) None of these
UP TGT – 2019 - 90. The contribution of agriculture to Indian economy is
(a) Increasing
(b) Decreasing
(c) Constant
(d) None of these
UP TGT – 2019