TY B. Com Sem V- Cost Accounting Sample Questions V TYBCOM SAMPLE... · 2020. 9. 21. · meter during the year ending 31st March, 2006 and sold 30000 meters @ Rs.25 per meter during

Cost Accounting

1 | P a g e

TY B. Com Sem V- Cost Accounting

Sample Questions

1. A cost center which is engaged in production activity is called _________

i) Production cost center ii) Process cost center

iii) Impersonal cost center iv) Production unit

2. Variable cost per unit remains _________

i) constant ii) flexible

iii) (i) & (ii) iv) None of the above

3. Cost which is related to capacity is called as _______

i) Fixed cost ii) Capacity cost

iii) Plant cost iv) None of the above

4. Cost which is unaffected by the change in output is called as ________

i) Fixed cost ii) Variable cost

iii) Period cost iv) None of the above

5. Variable cost is also known as ______

i) Product cost ii) Direct cost

iii) Period cost iv) Semi-fixed cost

6. In times of rising prices, the pricing of issues will be at a more recent current

market price in ______ i) FIFO ii) LIFO

iii) Weighted Average iv) Simple Average

7. When prices fluctuate widely, the method that will smooth out the effect of fluctuations is i) FIFO ii) LIFO

iii) Weighted Average iv) Simple Average

8. Cost of idle time arising due to non-availability of raw material is ______

i) Charged to costing profit & loss A/c

ii) Charged to factory overheads

iii) Covered by inflating the wage rate

iv) Ignored

9. A firm dealing in cloth has 15000 meters of cloth on April 1, 2005 valued at

Rs.1, 50,000 according to FIFO. The firm purchased 20000 meters @ Rs.12 per meter during the year ending 31st March, 2006 and sold 30000 meters @ Rs.25 per meter during the same period. As per FIFO, the closing stock will be valued at: i) Rs.60,000 ii) Rs. 1,25,000

iii) Rs. 50,000 iv) None of the above

Cost Accounting

2 | P a g e

10. A minimum quantity of stock always held as precaution against out of stock situation is

called ________

i) Zero stock ii) Base stock

iii) Risk stock iv) None of the above

11. Wages sheet is prepared by _________

i) Time keeping department ii) Personnel department

iii) Pay roll department iv) Cost accounting department

12. Productivity of labour is measured by comparing _______

i) Actual time with standard time

ii) Total output with total man hours

iii) Added value for the product with total wages cost

iv) All of the above.

13. Labour turnover is ______

i) Productivity of labour ii) Change in labour force

iii) Efficiency of labour iv) None of the above

14. How many rates are used to calculate wages under Taylor’s differential piece

rate system? i) Two ii) Three

iii) Four iv) Five

15. Pay roll accounting is concerning with

i) Computation of wages ii) Appointment of workers

iii) Termination of workers iv) All of the above

16. Selling and distribution overheads are absorbed on the basis of ______

i) Rate per unit ii) Percentage on works cost

iii) Percentage on selling cost iv) Any of these

17. Charging overheads to individual unit is known as

i) Allocation ii) Apportionment

iii) Absorption iv) Collection

18. Store keeping expenses are allocated on the basis of _______

i) No. of material requisitions ii) Area

iii) Direct labour hours iv) None of the above

19. Factory overheads should be absorbed on the basis of _______

i) Relationship to cost incurred ii) Direct labour hours

iii) Direct labour cost iv) Machine hours

Cost Accounting

3 | P a g e

20. Which of the following is service department?

i) Refining department ii) Machining department

iii) Receiving department iv) Finishing department

21. If the profit is 25% of the cost price then it is ______

i) 25% of the sales price ii) 33% of the sales price

iii) 20% of the sales price iv) 15% of the sales price

22. Prime cost + Factory overhead =

i) Fixed cost ii) Works cost

iii) Cost of production iv) Cost of goods sold

23. Research and development cost relating to an existing product

i) shall be treated as Capital Expenditure ii) shall be treated as direct Expenses

iii) shall be treated as deferred revenue expenditure iv) shall be ignored

24. Depreciation on delivery van shall form part of

i) Prime Cost ii) Works overheads

iii) Office overheads iv) Selling and Distribution Overheads

25. Donations

i) shall form part of prime cost ii) shall form part of works overheads

iii) shall form part of office overheads iv) shall be ignored

26. In Reconciliation Statement, Income shown only in Financial Accounts are

i) added to financial profit ii) deducted from financial profit

iii) ignored iv) deducted from Costing profit

27. In Reconciliation Statement, Depreciation Overcharged in Financial Accounts is


iii) ignored iv) added to Costing profit

28. In Reconciliation Statement, Overheads Over-Recovered in Cost Accounts are


iii) ignored iv) deducted from Costing profit

29. In Reconciliation Statement, Opening Stock Undervalued in financial A/cs is

i) deducted from financial profit ii) added to financial loss

iii) deducted from Costing loss iv) Any of the above

30. In Reconciliation Statement, transfers to reserves are


iii) ignored iv) added to Costing profit

Cost Accounting

4 | P a g e

31. In the cost sheet, loss due to accident/ fire shall be

i) added to cost of production ii) deducted from cost of production

iii) deducted from sales iv) ignored

32. Cost of goods manufactured will include opening and closing stock for

i) Raw materials, work in progress only ii) Work in progress only

iii) Raw materials only iv) Finished goods only

33. Margo Ltd. used in a particular year ₹ 6,00,000 of direct materials. The year-end direct

material inventory was ₹ 50,000 more than it was at the beginning of the year. Calculate

direct material purchases.

i) ₹6,00,000 ii) ₹6,50,000

iii) ₹5,50,000 iv) ₹4,00,000

34. Salary of a foreman should be classified as a

i) Semi-fixed or semi-variable overhead ii) fixed overhead

iii) variable overhead iv) None of the above

35. The least suitable basis for applying overhead is

i) materials consumed ii) direct labour cost

iii) direct labour hours iv) machine hours

36. Normal idle time

i) can be avoided ii) can be minimized

iii) cannot be avoided iv) can be controlled

37. Bonus under Rowan scheme is paid

i) as a proportion of standard time to actual time

ii) as a proportion of actual time to standard time

iii) as a proportion of time saved to standard time

iv)as a proportion of standard time to time saved

38. If the EOQ is 400 units, the ordering cost is ₹ 0.20, the carrying cost ₹20, how many

orders are placed per year?

i) 1 ii) 5

iii) 2 iv) 4

39. Continuous stock taking is a part of

i) Annual stock taking ii) Perpetual inventory

iii) ABC analysis iv) None of the above

40. If the size of inventory orders decreases, Number of orders per year will

i) Increase ii) decrease

iii) remain same iv) change depending on other factors

Cost Accounting

5 | P a g e

41. Which of the following documents is used for issuing materials to production

departments?

i) Purchase Requisition Note ii) Stores Requisition Note

iii) Goods Received Note iv) Stores Credit Note

42. A cost center is a ______

i) location for which cost is incurred ii) an organization

iii) a unit of cost iv) profit center

43. Time wages are paid ________

i)on the basis of actual time

ii) on the basis of standard time

iii) on the basis of time saved

iv) on the basis of overtime

44. The method of time booking includes ______

i) Daily time sheet ii) Attendance Register

iii) Time clock iv) None of the above

45. Office overheads are recovered as a % of _______

i) Direct materials ii) Direct wages

iii) Time clock iv) None of the above

46. When the amount of under or over absorption is significant, it should be disposed of by

________

i)Transferring to costing profit and loss account

ii) The use of supplementary rates

iii) Carrying over as a deferred charge to the next accounting year

iv) Either of the three

47. An opening stock of WIP is ₹1,70,000; closing stock of WIP is ₹1,40,000; Factory

Overheads is ₹5,20,000 and the Prime Cost is ₹ 8,40,000 what is the amount of Works

cost?

i) 13,90,000 ii) 13,60,000

iii) 13,30,000 iv) None of the above

48. Ron Enterprises manufactures desks. The beginning balance of Raw Material Inventory

was ₹7,500; raw materials consumed during the month was ₹31,500. At month end

₹9,000 of raw material was on hand. Raw material used during the month was ______

i) ₹33,000 ii) ₹34,100

iii) ₹37,300 iv) None of the above

Cost Accounting

6 | P a g e

49. Profit as per Financial Books ₹3,28,750

Factory expenses in cost Accounts ₹2,00,000

Factory expenses in Financial Accounts ₹1,93,750

Office overheads under-absorbed in cost accounts ₹2,500

Reconciliation Statement will show

i)Profit as per Cost Accounts - ₹3,37,500

ii) Profit as per Cost Accounts - ₹3,32,500

iii) Profit as per Cost Accounts- ₹3,25,000

iv)Profit as per Cost Accounts-₹ 5,20,000

50. In Reconciliation Statement, closing stock overvalued in financial Accounts is ______


iii) added to costing profit iv) ignored

Page 1 of 5

Subject: Computer Systems and Applications

Sem : V

Sample questions

1 In the transmission protocol for OSI model the transport layer is a) first layer (b) second layer (c) third layer (d) fourth layer.

2 Radio waves can travel in any direction hence they

(a) unidirectional (b) bidirectional (c) omni directional (d) all of the above.

3. Which of the following is not fundamental character of data communication?

(a) Jitter (b) Delivery (c) Accuracy (d) message

4 Which of the following is not a topology?

(a) Star (b) Bus (c) satellite (d) Ring

5 Which of the following is not component of data communication ?

(a) Medium (b) Protocol (c) Accuracy (d) sender

6 In MAN computers are generally connected with

(a) Twisted pair cable (b) Co-axial cable (c) satellite (d) Fibre–optic cable

7 LAN can work in a radial distance of

(a) 10kms (b) 20kms (c) 1km (d) 12 kms 8 Computers in the MAN must be within a radial distance of (a) 40 to 60 kms. (b) 60 to 80 kms (c) 80 to 100kms (d) 100 to120 kms

9 Speed of data transmission is

(a) 2 MBPS (b) 2 GBPS (c) 20 MBPS (d) 20 GBPS 10 Speed of WAN is measured in

(a) MBSP (b) GBSP (c) KBPS (d) none of the above

Page 2 of 5

11 In data communication while representing data ASCII codes are used for

(a) Numbers (b) Text (c) Images (d) video

12 An Elite hacker the one who has

(a) smart status (b) intelligent status (c) social status (d) none of the above 13 In which of the following data is transmitted using lively beams of light?

(a) Coaxial cable (b) Twisted Pair Cables (c) Fiber optic Cables (d) Satellite

14) Which of the following is not a network layer in osi model?

(a) Presentation (b) Application (c) Transfer (d) Session

15 Ground based microwaves are called as _________ microwaves

(a) satellite (b) Terrestrial (c) Radio (d) None of these

16) Twisted pair cable can support speed of data transfer upto

(a) 40 MBPS (b) 20 GBPS (c) 100 MBPS (d) None of these

17) A device that connects multiple devices together and filters the data packets

(a) Modem (b) Hub (c) Switch (d) Bridge

18) The server based network processing is done by:

(a) Router (b) Node (c) Data Packet (d) None of these

19) Bus topology is popularly used in :

(a) MAN netwrok (b) WAN network (c) LAN network 4) All of the above

20) A network in which computer acts as a server as well as a Node is :

(a) Bus Topology (b) Ring Topology (c) Mesh Topology (d) Star Topology

21. A Database contains one or more__________.

(a) Tables (b) rows (c) columns (d) database

22. To indicate that there should be 5 integer and 2 decimal positions , we use __________.

Page 3 of 5

(a) Decimal(5,2) (b) Decimal(7,2) (c) Decimal(2,5) (d) Decimal(2,7)

23. In the data type VARCHAR() data is stored as __________ length strings.

(a) fixed (b) long (c) short (d) variable

24. In ________data type the outcome is true or false .

(a) integer (b) date (c) boolean (d) character

25. To make database STUDENT active , we use ________.

(a) SELECT STUDENT (b) OPEN STUDENT (c) USE STUDENT (d) CHOOSE STUDENT

26. To view structure of table TYBA , we use ________.

(a) DESC TYBA (b) SHOW TYBA (c) DISPLAY TYBA (d) STRU TYBA

27. The key which helps to uniquely identify each row of the table is called ________key.

(a) Primary (b) secondary (c) foreign (d) main

28. The function used to join words in My SQL is ________.

(a) MERGE (b) MOVE (c) CONCAT (d) JOIN

29. The function used to get remainder of X divided by Y in My SQL is ________.

(a) MOD(X,Y) (b) ABS(X,Y) (c) EXP(X,Y) (d) DIV(X,Y)

30. SELECT ROUND(53.272,2) will give ________.

(a) 53.27 (b) 53 (c) 53.3 (d) 53.28

31. SELECT MONTH( ‘2005-12-04’) will give ________.

(a) December (b) 04 (c) 12 (d) 2005

32. SELECT MONTHNAME ( ‘2005-12-04’) will give ________.

(b) December (b) 04 (c) 12 (d) 2005

Page 4 of 5

33. SELECT SQRT(25) will give ________.

(a) 625 (b) 5 (c) 100 (d) 2.5

34. _________ clause is used to SORT the data .

(a) ORDER BY (b) SORT BY (c) ARRANGE BY (d) SHUFFLE BY

35. To control which rows to be displayed , we use ________clause.

(a) LIMIT (b) SELECT (c) LINE (d) CONCAT

36. To save changes made as a result of a transaction , we use ________ clause.

(a) COMMIT (b) START (c) END (d) ROLLBACK

37. When a query is written within another query , it is termed as ________.

(a) MINI QUERY (b) NET QUERY (c) SUB QUERY (d) PARTIAL QUERY

38. ________ operator is used to match string containing wild card characters.

(a) LIKE (b) DISTINCT (c) IN (d) LIMIT

39. ________ clause is used to join two tables with SIMPLE JOIN.

(a) LIKE (b) WHERE (c) HAVING (d) JOIN

40. ________ clause is used for aggregate functions.

(a) ORDER BY (b) WHERE (c) GROUP BY (d) JOIN

41. A workbook may consists of ________.

(a) Files (b) tables (c) worksheets (d) folders

42. _______ is used to access the frequently used Excel commands.

(a) Title bar (b) Status bar (c) Home tab

(d) Quick Access Tool bar

43. _________ function determines the payment needed each period to repay a loan .

(a) FV (b) PV (c) PMT (d) PAY

Page 5 of 5

44. To compute the average of the numbers , we use ________function.

(a) SUM (b) AVERAGE (c) AVG (d) MEAN

45. The result of =ROUNDDOWN( 2.9, 0) is ________.

(a) 2.9 (b) 3 (c) 2 (d) 2.5

46. The result of =FLOOR( 254.96 , 1) is ________.

(a) 254.9 (b) 254 (c) 255 (d) 254.97

47. A pivot table is a ________of data.

(a) dynamic summary (b) movable table (c) graphic representation (d) none

48. The SUBTOTAL command is a part of ________tab.

(a) Home (b) Data (c) Insert (d) Formulas

49. The cell reference which change when they are copied are known as ________cell references.

(a) Relative (b) absolute (c) mixed (d) none

50. To insert an information to be printed at the top or bottom of every page , we use ________.

(a) margins (b) page titles (c) page set up

(d) header and footer

@@@@@@@@@@

Business Economics

1 of 6

SEM V: BUSINESS ECONOMICS SAMPLE QUESTIONS

Q1) Which of the following was one of the main reasons for the Balance of Payment crisis in India before the Economic Reforms of 1991? (a) License Raj (b) Abolition of Monopolies and Restrictive Trade Practices Act (c) Gulf War (d) Lowering of SLR Q2) Who was the Prime Minister of India when the New Economic Policy 1991 was implemented? (a) Indira Gandhi (b) Narendra Modi (c) Manmohan Singh (d) P.V Narasimha Rao Q3) Which of the following reforms were not undertaken to open up the economy to foreign competition and investment (a) Current account convertibility (b) Export promotion (c) Increased Import duties and tariffs (d) Encouraged FDI and FPI Q4) Which of the following are not included in the calculation of Human Development Index (HDI)? (a) Wage rate (b) Life expectancy (c) Education (d) Per Capita Income Q5) Kasturba Gandhi Balika Vidyalaya (KGBV) was launched to set up residential schools for _______ (a) All children belonging to SC, ST, OBC and minorities (b) Girls belonging to SC, ST, OBC and minorities (c) Girls belonging to poor households (d) All children belonging to poor households Q6) AIIMS belongs to which level of Public Healthcare Infrastructure? (a Primary Level (b) Secondary Level (c) Tertiary Level (d) Pre-Primary level Q7) Which of the following is the official agency formed to promote and facilitate investments in India? (a) Foreign Investment Promotion Board (b) Invest India (c) Make in India (d) Department of Investment and Public Asset Management Q8) Sustainable Development does not include which of the following components? (a) Environmental Protection (b) Economic Development (c) Social Development (d) Philosophical Development

Business Economics

2 of 6

Q9) Which of the following programmes have not been implemented with the aim to end poverty in India? (a) Mahatma Gandhi National Rural Employment Guarantee Act (b) Sagarmala Programme (c) Atal Pension Yojana (d) National Livelihood Mission Q10) Which of the following is not a benefit of foreign investment to the host country? (a) Increase in total investment (b) development of human capital (c) increase in employment (d) increase in imports of inputs and components Q11) Acquiring control of existing businesses in foreign countries comes under which form of foreign investment? (a) Greenfield investments (b) Debt capital (c) Mergers & Acquisition (d) Depository Receipts Q12) Which Government policy encouraged the inflow of FDI in India? (a) New Industrial Policy 1991 (b)Foreign Exchange Management Act 1999 (c) FDI policy 2017 (d) Competition Act 2002 Q13) At present agriculture is contributing only about _______________ of GDP. (a) 13% (b) 14% (c) 15% (d) 16% Q14) India at present is the ________ largest producer of farm output. (a) 3rd (b) 7th (c) 2nd (d) 5th Q15) One of the important objective of New Agricultural Policy 2000 is \ (a) To achieve a growth rate of more than 7% per annum in agriculture. (b) To make agriculture more market oriented. (c) To encourage migration of farmers to urban areas. (d) To strengthen urban infrastructure. Q16) The Swaminathan Committee recommended to fix MSP at a level 50% more than the (a) Cost of production (b) market price (c) Average cost of production (d) Weighted average cost of production

Business Economics

3 of 6

Q17) Which of the following is not a feature of agricultural pricing in India? (a) Poor infrastructure (b) Uncertainty (c) Remunerative price (d) Distress sale Q18) The minimum support prices are served as a _________ price and guaranteed income. (a) ceiling (b) Maximum (c) Floor (d) Cost Q19) The time period for the short-term agricultural loans is upto (a) 12 months (b) 15 months (c) 18 months (d) 24 months Q20) Land Development Banks provide (a) only long-term finance (b) only medium-term finance (c) Only short-term finance (d) only short-term and medium-term finance Q21) RRBs are established in 1975 by the recommendation of (a) Sarkaria Committee (b) Challiah Committee (c) Narasimham Committee (d) Dr. Manmohan Singh Committee Q22) Choose the odd one out with regard to agricultural marketing. (a) Lack of organization (b) Inadequate credit (c) Stable prices (d) Distress sale Q23) The regulated market committee ensures (a) remunerative prices (b) price spread (c) variable market charges (d) non provision of storage facilities to farmers. Q24) The graded agricultural goods are stamped with the seal of the (a) NAFED (b) FCI (c) ISI (d) AGMARK Q25) The general level of industrial activity in the economy is measured by (a) FDI (b) IIP (c) HDI (d) FCI

Business Economics

4 of 6

Q26) The revival of industrial growth took place in (a) Eighth Five Year Plan (b) Ninth Five Year Plan (c) Tenth Five Year Plan (d) Eleventh Five Year Plan Q27) The objectives of the Competition Act does not include (a) Prohibition of abuse of dominant position. (b) Regulation of combinations (c) Prohibition of ant-competitive arguments (d) Non-competition advocacy Q28) The objectives of disinvestment does not include (a) raising resources (b) benefits to producers (c) raising productive efficiency (d) restructuring of public enterprises Q29) Choose the correct option with regard to the disinvestment policy of India. (a) Planned (b) No government control (c) Reduction in public sector employment (d) In consent with the people Q30) Choose the odd one out. (a) MSME SAMADHAN (b) VRS (c) SFURTI (d) ASPIRE Q31) MSMEs (a) Generate employment (b) Support to large-scale industries only (c) Support agricultural sector only (d) Do not mobilize capital Q32) The Scheme of the Government for setting up a network of technology centre and incubation centres is- (a) CLCSS (b) SFURTI (c) ASPIRE (d) CDP Q33) Choose the wrong statement from below (a) Unplanned growth of industries leads to industrial pollution. (b) Use of new technology pollute the environment. (c) Water is used in many industrial processes. (d) There is an absence of nationwide pollution tax.

Business Economics

5 of 6

Q34) Which is the most polluted Indian city? (a) New Delhi (b) Kanpur (c) Hyderabad (d) Mumbai Q35) The growth rate of service sector is _________. (a) lower than the industrial sector (b) lower than the agricultural sector (c) higher than agricultural and industrial sector (d) equal to agricultural sector Q36) The contribution of service sector in GDP is ______ . (a) equal to agricultural and industrial sectors (b) lowest (c) highest (d) equal to agricultural sector Q37) Religious tourism comes under (a) Adventure tourism (b) Medical tourism (c) Heritage tourism (d) Eco tourism Q38) Which of the following schemes was introduced by NABARD in 1998-99 to improve farmers’ access to credit? (a) Local Area Banks (b) Kisan Credit Card Scheme (c) NEFT (d) Indradhanush programme Q 39) Which of the following schemes directly transfers benefits of 26 Government schemes directly to the bank accounts of the beneficiaries? (a) Kisan Credit Card Scheme (b) Swabhiman Scheme (c) National Family Benefit Scheme (d) Direct Benefit Transfer Scheme Q40) Which of the following instruments does not permit a customer to spend over and above his cash balance in the bank? (a) Credit Card (b) PAN Card (c) Debit Card (d) Aadhar Card Q41) Which of the following defines insurance density? (a) sum of the net asset value and present value of future profits of a life insurance company (b) the ratio of premium underwritten in a given year to the total population (c) the ratio of premium underwritten in a given year to the GDP (d) strain on the business created due to inadequate premium amounts in initial years, which are insufficient to cover for the expenses, commissions and statutory reserves

Business Economics

6 of 6

Q42) When was the Insurance Regulatory and Development Authority (IRDA) formally constituted as an autonomous body? (a) January 2000 (b) April 2000 (c) May 2000 (d) July 2000 Q43) The IRDA is a member of which of the following institutions? (a) World Trade Organization (b) International Institute of Insurance Regulators (c) World Bank (d) International Association of Insurance Supervisors Q44) Which of the following is a money market instrument? (a) shares (b) debentures (c) treasury bills (d) bonds Q45) Which of the following is not a limitation of the Indian money market? (a) existence of unorganized sector (b) existence of multiple interest rates (c) inadequate credit instruments (d) provides funds for short-term needs Q46) Which of the following institutions was accredited as a Primary Dealer (PD) in February 1996? (a)Discount and Finance House of India (b) Clearing Corporation Of India (c) Reserve Bank of India (d) Export Credit Guarantee Corporation of India Q47) Who is responsible for regulating and monitoring the functioning of stock exchanges in India? (a) IRDA (b) SEBI (c) WTO (d) RBI Q48) Which of the following programs has been started by the Central Government for protection of investors in the capital market? (a) Rajiv Gandhi Equity Savings Scheme (b) Investor Education and Protection Fund (c) Grievance Redressal Forum (d) Investor Protection Scheme Q49) A Certificate of Deposit (CD) can be issued to a single investor for a minimum issue size of- (a) ₹ 25 lakh (b) ₹ 10 lakh (c) ₹ 1 lakh (d) ₹ 5 lakh Q50) Which of the following is not a type of repo? (a) RBI repos (b) Intra bank repos (c) Inter bank repos (d) Term repos

1

1. . …………………………… is an incentive available to Indian exporters.

a. Green Channel L/C

b. Red Clause L/C

c. Back to Back L/C

d. None of the above

2. MDA is available to …………………..

a. Super star Trading Houses

b. Trading Houses

c. Status Holders


3. MAI allows …………………………… subsidy.

a. transport

b. Income

c. distribution


4. ASIDE establishes and develops ___________

a. SEZs

b. EOUs

c. FTZs

5. _____________practices “Off the shelf price.”

a. MAI

b. MDA

c. IRMAC


6. Institutional assistance offered is in the turn of ______________to exporters.

a. financial services

MCQ SAMPLES –T.Y.B.COM EXPORT MARKETING

SEMESTER V

2 A _____ can be defined as anything that is offered for sale in the open market.

a. Product

b. Place

c. Price

d. Non of the above

2

b. non-financial services

c. export licenses

d. export permits

7. EPCs are______________ organizations.

a. profit making

b. non-profit making

c. loss-marketing


8. Commodity Boards look after the export promotion of____________

a. primary and traditional items

b. services sector

c. machinery

d. engineering goods

9. IIFT is basically ______________institute.

a. an academic and research

b. financial

c. export trading

d. profit making

10. Headquarters of ITPO is at_____________.

a. Mumbai

b. New Delhi

c. Ahmedabad

d. Kolkata

11. IIP was setup in____________

a. 1954

b. 1980

c. 1966

d. 1965

12. FIEO makes efforts to develop __________among exporters.

a. export culture

b. import culture

3

c. business culture

d. none of the above

13. FICCI was established on the advice of____________________.

a. Mahatma Gandhi

b. Jawaharlal Nehru

c. Narendra Modi

d. Indira Gandhi

14. EPCs help in solving problems of _______________.

a. importers

b. exporters

c. manufacturers

d. banks

15. Under EPCG scheme, import of second hand goods are_____________

a. allowed

b. disallowed

c. prohibited


16. ______________goods imported are subject to actual user conditions.

a. Manufactured

b. Capital

c. Non-capital


17. Duty Remission Scheme consists of___________

a. DBK

b. MDA

c. DEPB


4

18. Advance license is issued for ____________export.

a. service

b. deemed

c. merchant


19. Under Export Advance Authorization Scheme ___________is permitted.

a. wastage

b. scrap

c. equipment


20. Exporters can apply to fix-up __________rates.

a. interest

b. brand

c. exchange


21. IGST refund for exporters are operated through ______________options.

a. two

b. three

c. four


22. ______________enjoys the status of a deemed university.

a. IIFT

b. EPC

c. FIEO

d. ITPO

23. MEIS is expected to support_ ___________sector with special emphasis.

a. service

b. manufacturing

c. allied

d. agriculture

24. ASIDE scheme provides benefits for____________.

5

a. import of capital goods

b. infrastructure development to states

c. refund of excise duty

d. import of raw materials in bulk

25. IRMAC imports raw materials in bulk and supply to exporters at_____________

a. high prices

b. competitive prices

c. low prices


26. MDA is given to Export houses and_____________.

a. trading houses

b. small exporters

c. private exporters

d. state government

27. EPCs are basically___________ _organizations.

a. trading

b. manufacturing and exporting

c. service

d. profit making

28, FIEO acts as apex body of_____________

a. Trading organizations

b. export promotion organizations

c. service organizations


29. ______________scheme provides assistance to states for developing infrastructure for

exports.

a. ASIDE

b. MAI

c. ECGC

d. IRMAC

6

30. _____________provides training courses for foreign trade

a. IIP

b. ICA

c. IIFT

d. NCTI

31. GATT was replaced by_ ___________in 1995.

a. EU

b. WTO

c. WHO

d. IMF

32. AoA, as per WTO stands for_____________

a. Agreement on Allied Sectors

b. Agreement on Agriculture

c. Association on Agriculture

d. All of the Above

33. _____________ enjoys the status of deemed university.

a. IIFT

b. EPC

c. FIEO

d. ITPO

34. _________ acts as a publicity wing of Govt. of India for trade fairs and

exhibitions.

a. ITPO

b. NCTI

c. ICA


7

35._________ promotes the exports of software exports.

a. EHTP

b. STP

c. BTP


36.____________scheme provides assistance to states for infrastructure

development for exports.

a. IRMAC

b. ASIDE

c. ECGC

d. MAI

37 ____________ scheme assists small units in procuring raw materials for

export production

a. ASIDE

b. EPCG

c. IRMAC

d. MDA

38. There are about ______ Commodity Boards in India.

a. 17

b. 27

c. 7


8

39. ___________ promotes the exports of marine products.

a. APEDA

b. FIEO

c. MPEDA


40. __________ promotes the exports of agricultural products.

a. APEDA

b. MPEDA

c. ITPO


41. NAFTA stand for____________

a. Nuclear Arms Free trade Association

b. North American Free trade Area

c. Not Applicable free trade area

d. North American Free trade Association

42. SAARC stands for______________

a. South Association of Asian Region countries

b . South Asian Association for Regional Co operation

c. South Asian Association for Restricted collaboration

d. None of the above.

43. WTO stands for …………………….

a. Wealth trading organization

b. World trending organization

c. World Trading Organization


9

44. TRIPS stands for___________________

a. Trade Related Investment policies

b. Trade related Intellectual Property Rights

c. Terms relating to Investment and Property Rights


45. TRIMs___________________

a. Transfer related investment methods

b. Trade related investments measures

c. Technology related information methods


46. DGFT_____________

a. Director General of Foreign Trade

b. Director General of Free Trade

c. Director General of Fixed Trade


47. PAN stands for______________

a. Primary Account Number

b. Personal Account Number

c. Permanent Account Number

d . None of the above

48. The schemes NEIS and SEIS were introduced in the foreign trade

policy of_______________

a. 2000-2005

b. 2005-2010

c. 2010-2015

d. 2015-2020

10

49. Inability of an importer to pay his __________________risk

a. political risk

b. credit risk

c. commercial brisk


50. ITPO stands for______________

a. International Trade Promotion Organisation

b. Indian Trade Promotion Organisation

c. Intellectual Trade Promotion Organisation


#############################################################

Financial accounting

FINANCIAL ACCOUNTING

SAMPLE QUESTIONS FOR SEM VSR.NO. QUESTION A B C D

1

_____ resolution is to be passed by shareholders for

approval of scheme of reconstruction.ordinary Special both of a & b none of the above

2 Arrears of preference dividend is ….. contingent liability current liability secured liability long term liability

3 Bills receivable is shown under _____. current assets Short term advances Trade Receivable current liabilities

4

Damages claimed by customer but disputed in court

of law is shown is a current assets current liabilities contingent liability loans & advances

5 Dividend is calculated on _____ capital. Called up capital Issued capital paid up authorised capital

6

The capital work in progress is added to _____ in

Balance Sheet.current assets share capital fixed assets, current liabilities

7

Balance in Share issue expenses Account can be

shown as _____.loans & advances Profit and Loss A/c

Other non current

assets

miscellaneous expenditure

or reductions for reserves

8

Bills discounted but not yet matured is to be shown

as _____.loans & advances contingent liability,

Other non current

assetsNon current liability

9

Board meeting fees paid to non salaried director

should be shown as a _____ item in Profit and Loss

A/c.

Employee benefit

expensesOthere expenses Short term loans Finance cost

10Charging cost of family dinner to the company is

Misappropriation of

assets Fraudulent reporting Ethical reporting All of the above

11 Cost of investment includes purchase price plus brokerage interest profit loss

12 Cum interest price includes Interest profit loss bank charges

13

Debit balance in P&L a/c is transferred to _____

Account. General reserve security premium share capital Capital Reduction

14

Development expenditure is shown under _____

_____.current liabilities fixed assets Other Current Assets none of the above

15Dividend on shares is usually accounted when

received declared company makes profit none of the above

Page 1 of 4


16 Ex interest price excludes Interest profit loss bank charges

17 Gross block of assets indicates Original cost Depreciation Written down value additions

18

In case of secured loan, the particulars of _____

offered should be disclosedterms & conditions interest rate security all of the above

19

Interest is always calculated on _____ _____ of

securities. cost average cost market value face value

20

Interest is paid to the …………...on due date

irrespective of his period of holding. registered owner broker banker seller

21 Live stock is shown under _____ assets. investment current assets fixed assets current liabilities

22

Loans from directors should be shown under _____

_____ in balance sheet of a company.

Share application

moneysecured loans

Amount received

against share warrantsunsecured loans

23 Loose tools are classified under _____ assets. current, fixed long term loans long term investments

24 Misappropriation of assets may take place At Jr. level At Sr. level At middle level At any level

25Net Block is Gross Block less …..

Accumulated

depreciationsales price of assets

Current year

depreciationnone of the above

26 Net block of assets indicates Original cost Depreciation Written down value additions

27Principles of Accounting and Finance ethics include

Integrity

Professional

competence Professional behaviour All of the above

28 Principles of Ethical behaviour include Integrity Objectivity Confidentiality All of the above

29Reasons for unethical behaviour include

Preference on short

term results Ignoring unethical issues Economic cycles All of the above

30

Remuneration to Salaried director should be shown

as a _____ item in Profit and Loss A/c.

Employee benefit

expensesOthere expenses Short term loans Finance cost

31

Repairs to machinery is shown ………. In Profit and

Loss A/c.Other income finance cost other expenses depreciation

32 Right shares purchased are accounted at Actual cost average cost market value face value

33Rule–based accounting standards

Adds excessive

complexity

Facilitates financial

engineering

Do not reflect true and

fair view All of the above

34

Shareholders not approving scheme is called _____

shareholders. dissenting paying pay disentient shareholdersnone of the above

Page 2 of 4


35

Short term loan is the loan due for not more than

_____ months.12 6 8 24

36

The Balance Sheet prepared after implementation of

the scheme is to be prepared as per _____.Schedule IV Schedule VI Schedule II Schedule III

37

The balancing figure on debit side of Capital reduction

a/c is ……….. Capital reserve General reserve

Capital reduction

reserve

Capital redemption

reserve

38

The closing balance on Cost column of Investment

Account is Carried forward Transferred to P&L a/c

Transferred to dividend

a/c

Transferred to interest

a/c

39

The consolidation of shares does not result in _____

of capital. reduction added Compromise discount

40The dividend received for pre-acquisition period is a

Capital receipt Revenue receipt Capital Reserve General reserve

41

The expenses for Internal reconstruction scheme

should be debited to _____. General reserve Equity share holders

capital reduction

reserve capital reduction

42The increase in value of fixed asset is

debited to Capital

reduction a/c

credited to Capital

reduction a/c General reserve capital reduction reserve

43

The interest column in Investment Account is closed

by transferring balance to _____. Dividend a/c General reserve Investment A/c Profit & Loss Account

44

The interest on debentures which has accrued but not

due is shown as _____.Short term provisions current liabilities unsecured loans secured loans

45

The internal reconstruction results in proper

valuation of _____ and _____ of companies. Profit & Loss Account reserve & surplus assets and liabilities none of the above

46The loss on sale of investment is

Debited to P&L a/c Credited to P&L a/c


a/c


a/c

47The profit on sale of investment is

Debited to P&L a/c Credited to P&L a/c


a/c


a/c

48

The scheme of internal reconstruction requires

approval of _____. Shareholders Central Government NCLT all the above

Page 3 of 4


49

Uncalled amount on equity shares held as non

current investment is shown under the heading

_____.

contingent liability, Investments loans & advances Non current liability

50

When bonus shares are allotted , it is to be shown in

_____ column of investment. cost of investment face value

Not required to be

shown market value

51

Security premium can be _____ for calculating buy

back limit. excluded 50% considered included none of the above

52

The buy back of shares can be effected by purchase

from _____. directors shareholders open market none of the above

53

The buy back of share is governed by Section _____

of Companies Act. 75 78 80 68

54 Buy Back of shares is for _____ class of shares. preference shares equity both a & b none of the above

55Partly paid shares _____ be bought back.

after making fully paid

up with special resolution can not none of the above

Page 4 of 4

1

1. The ……………………. Concept of marketing balances between social welfare and

profits.

a. Product, b. Selling, c. Production, d. Societal

2. …………………………….. is an element of demographic segmentation.

a. Personality, b. Age, c. Attitude, d. None of the above

3. …………………………. acts as one component of MIS

a. Market Research, b. MIS, c. Competition, d. None of the above

4. ………………………… is one technique of building CRM

a. Data mining, b. MIS, c. Market Research, d. None of the above

5. ………………………… concept of marketing emphasizes on product excellence.

a. Selling, b. societal, c. Product, d. None of the above

6. ……………………. is a cultural factor influencing consumer behavior

a. Reference groups, b. Personality, c. Social status, d. None of the above

7. ……………………… relates to physical distribution of goods.

a. Buying, b. Marketing, c. Retailing, d. Logistics, d. None of the above

8. ……………………….. Is the essence of marketing?

a. Place, b. Time, c. Exchange, d. None of the above

9. Buying decision starts with ………………………..

a. Need identification, b. Information search, c. Evaluating options, d. None of the

above

10. Packing facilitates --------------

a. Easy handling, b. after use c. Complaints d. None of the above

11. -----------------------has incremental value.

a. Brand personally, b. Brand association, c. Brand equity, d. None of the above

12. Packaging is regarded as-------------------P.

a. First, b. Third, c. Fifth, d. None of the above

MCQ SAMPLES –T.Y.B.COM –MARKETING

SEMESTER V

2

13. Pricing methods and pricing strategies are-------------------

a. The same, b. Different, c. Opposite, d. None of the above

14. Product positioning--------------------service positioning.

a. Means, b. is different from, c. is opposite to, d. None of the above

15. A---------------level channel is one in which there no intermediaries.

a. Zero, b. One, c. Two, d. Three

16. -------------------promotional tools directed towards the intermediaries like the

wholesalers and retailers in order to motivate them to stock the manufacturers’

brand and resell it to the consumers.

a. Trade, b. Sales force. c. Consumer, d. Manufacturer

17. Promotion mix is also called-------------------mix.

a. Place, b. Communication, c. Price, d. Marketing

18. Advertising is ---------------in nature.

a. Non-personal, b. Personal, c. Special, d. Private

19. A--------------------is an assurance given about the quality of a product sold.

a. Promise, b. Warranty, c. Statement, d. Logo

20. ------------------is a component of supply chain management.

a. Inventory management, b. Warehousing, c. Return of goods, d. All of the above

21. -------------------are the components of sales management.

a. Recruiting sales people, b. Sales planning, c. Motivating sales people, d. All of

the above

22. -------------------are the skills required for effective selling.

3

a. Communication skills, b. Interpersonal skills, c. Physical qualities, d. All of the

above

23. Market-----------------has a dominant position in the market.

a. Leader, b. Challenger, c. Follower, d. Nicher

24. ------------------refers to online commerce transactions between businesses.

a. B2B, b. B2C, c. C2C, d. None of the above

25. -------------------are small firms that target small market.

a. Leaders, b. Nichers, c. Followers, d. Challengers.

26. Mobile marketing includes-------------------

a. MMS, b. APPs, c. SMS, d. All of the above

27. Zoozoos are advertisement characters promoted by----------------

a. Airtel, b. Jio c. Vodafone, d. Idea

28. According to --------------- concept, a company has to push its products in market by

undertaking selling efforts such as advertising, publicity, salesmanship, sales

promotion etc.

a. Product b. Selling c. Marketing d. Societal

29. The -----------------concept starts with determining consumer wants and end with the

satisfaction of those wants.

a. Marketing b. Segmentation c. Branding d. Pricing

30. --------------------Marketing recognizes the importance of developing long term

relationship with customers.

a. Customer Relationship b. Green c. Social d. Traditional

31. ----------------------is a cultural factor influencing consumer behavior.

a. Reference group b. Personality c. Social status d. Social class

32. A--------------------is a need that stimulates a person to act in a particular way.

a. Motive b. Market c. Segment d. Tool

4

33. Market segmentation is a------------------consuming process.

a. Place b. Segment c .Market d. Time

34. Consumers buy products with------------------buying motives.

a. Similar b. Comparable c. Equivalent d. Different

35. Process of selecting market from the entire market is termed as------------------.

a. Segmentation b. Targeting c. Positioning d. All of the above

36. --------------------is the exchange value of a product.

a. Product b. Place c. Price d. Promotion

37. An appropriate marketing mix helps in achieving---------------returns with limited

resources.

a. Minimum b. Maximum c. Marginal d. Trivial

38. During----------------stage the product is launched in the market.

a. Inception b. Growth c. Maturity d. Decline

39. Segmentation means the process of------------------the market into smaller groups or

segments.

a. Multiplying b. Dividing c. Adding d. Totaling

40. ------------------is a basis of sociographic segmentation.

a. Culture b. Income c. Gender d. Occupation

41. ---------------helps in protecting the goods from damage during transportation.

a. Packaging b. Insurance c. Branding d. None of the above

42. ------------------promotion tools are those tools which are directed towards ultimate

consumer.

a. Trade b. Sales force c. Consumer d. Intermediaries

43. --------------------involve a variety of programmes designed to promote or protect the

company’s image or its individual products.

a. Personal selling. b Sales promotion c. Direct marketing d. Public relations

44. -------------------selling is used in case of complex and expensive products and in

markets with fewer buyers.

a. Aggressive b. Forceful c. Public d. Personal

45. In------------------, companies sell their products directly to the consumers by

eliminating intermediaries from the channel of distribution.

5

a. Personal selling. b. Sales promotion c. Direct marketing d. Public relation

46. ---------------------are the elements of promotion.

a. Sales promotion. b. Direct marketing c. Advertising d. All the above

47. In------------------pricing strategy or variable pricing strategy, the manufacturer

charges different pr Market research is a systematic study of -----------------problems

and opportunities in the market.

a. General b. Universal c. Specific d Entire

48. Prices to similar customers.

a. One b. Single c. Flexible d. Odd

49. Product----------------explains the number of variants of each product in the line.

a. Width b. Length c. Depth c. Consistency

50. --------------------relates to physical distribution of goods.

a. Buying b. Marketing c. Retailing d. Logistics

ALL THE VERY BEST

##############################################################################

Psychology of human behavior at work

Semester 5-Sample Questions 1. ____________________ is a process that includes defining goals,

establishing strategy and developing plans to coordinate activities.

a. Planning b. Leading c. Controlling d. Organizing

2. _____________________ role involves monitoring activities to

ensure they are being accomplished as planned and correcting any

significant deviation. a. Decisional b. Conceptual c. Controlling d. Leading

3. _________________________function involves motivating

employees directing others, selecting the most effective communication channels and resolving conflicts.

a. Leading b. Planning c. Decision-making d.

Technical 4. Managers who are required to perform duties that are ceremonial

and symbolic in nature are called _________________. a. leaders b. negotiator c. monitor d. figure head

5. In a __________________ role, managers maintain a network of

outside contacts that provide favors and information. a. planning b. human c. technical d. liaison

6. When the manager is responsible for motivating and directing

employees he is performing a ____________________ role. a. Organizing b. controlling c. leadership d. monitor

7. When a manager serves as a nerve center of internal and external

information of the organization he is performing the role of a ________________.

a. Monitor b. planner c. leader d. disseminator

8. Managers who act as a conduit to transmit information to organizational members is performing the role of a

________________.

a. Disseminator b. Disturbance handler c. Negotiator d. Liaison

9. A manager performs the _________________ role to represent

the organization to an outsider. a. liaison’s b. disseminator’s c. spokesperson’s d.

entrepreneur’s

10. Manager who initiates and oversees new project is performing the role of _________________________.

a. entrepreneur b. monitor c. leader d. negotiator

11. When a manager plays the role of _a____________________ he takes corrective action when the organization faces unexpected

disturbances.

a. Leader b. Controller c. Disturbance healer d. Negotiator

12. In the ______________________ role the manager discusses issues and bargains with other units to get advantages for their own unit.

a. liaison b. spokesperson c. negotiator d. Figure head

13. __________________________ skills encompasses the ability to apply specialized knowledge or expertise.

a. Human b. Conceptual c. technical d. interpersonal

14.___________are evaluative statements either favourable or unfavourable about objects people or events.

a) Attitudes b) Motives c) Beliefs d) Actions

15. The ___________component of an attitude is a description of or belief in the way things are.

a)Affective b) Cognitive c) Behavioural d) Motivational

16. The emotional or feeling segment of an attitude is called its ____________component.


17. The _____________component of an attitude describes an intention

to behave in a certain way.


18.___________ describes a positive feeling about a job resulting from

an evaluation of its characteristics.

a)Job satisfaction b) Organizational commitment c) Job

engagement d) Job involvement

19.______________measures the degree to which people identify

psychologically with their job.

a)Job satisfaction b) Organizational commitment

c) Job engagement d) Job involvement

20.__________refers to employee’s beliefs in the degree to which they

influence their work environment, their competence, the meaningfulness of their job and their perceived autonomy.

a)Psychological empowerment b) Organizational commitment

c) Job engagement d) Job involvement8.In

21.___________________, an employee identifies with a particular organization and its goals and wishes to remain a member.

a)Psychological empowerment b) Organizational commitment

c) Job engagement d) Job involvement

22.____________is the degree to which employees believe the

organization values their contribution and cares about their well-

being.

a)Psychological empowerment b) Organizational commitment c)

Job engagement d) Perceived organizational support

23.________________ is the individual’s involvement with, satisfaction with and enthusiasm for the work she does.

a)Job satisfaction b) Organizational commitment

c) Employee engagement d) Job involvement

24. The ____________response directs behaviour toward leaving the

organization.

a)Exit b) Voice c) Loyalty d) Neglect

25. The ____________response includes actively and constructively

attempting to improve conditions.

a)Exit b) Voice c) Loyalty d) Neglect

26._____________ is defined as the process that account for an individual’s intensity,

direction, and persistence of effort towards attaining a goal.

a. Attitudes b. Motivation

c. Job satisfaction d. Leadership

27. The three elements in motivation are intensity, direction, and ______________.

a. persistence b. performance

c. feedback d. intensity

28.____________measures how long a person can maintain effort.

a. Aptitude b. Interest

c. Persistence d. Intensity

29.____________hypothesized that within every human being, there is a hierarchy

of needs

a. McGregor b. Abraham Maslow

c. McClelland D. Herzberg

30.____________need includes drive to become what we are capable of becoming.

a. Esteem needs b. Self-actualization

c. Safety needs d. Security needs

31.____________need is about security and protection from physical and emotional harm.

a. Physiological b. Safety

c. Social d. Financial

32. Affection, belongingness, acceptance, and friendship are elements of

__________need.

a. basic b. social c. safety d. esteem

33. Social, esteem and self-actualization are known as __________.

a. primary needs b. intermediate needs c. higher order needs d. lower order needs

34. Under ____________, managers believe employees inherently

dislike work and must therefore be directed or even coerced into performing it.

a. theory X b. theory Y c. theory Z d. two factor theory

35. Under ____________, managers assume employees can view work as being as natural as rest, and therefore the average person can

learn to accept, and even seek responsibility.

a. theory X b. theory Y c. Maslow’s theory d. Herzberg’s theory

36. Frederick Herzberg proposed the _____________.

a. hierarchy of needs b. two factor theory c. theory X and theory Y d. theory of needs

37. According to Herzberg’s theory when ___________factors are adequate, people will not be dissatisfied.

a. motivators b. primary c. hygiene d. secondary

38. A theory that relates intrinsic factors to job satisfaction and associates extrinsic factors with dissatisfaction is known as

___________.

a. two factor theory b. equity theory c. theory of needs d. goal setting theory

39. ___________________________ is defined as the ability to influence a group toward the achievement of a vision or set of goals.

(a)Motivation (b) Bossiness (c) Emotional Maturity (d) Leadership

40._______________________theories consider personal qualities and characteristics that differentiate leaders from non-leaders.

(a)Behavior (b) Trait (c) Contingency (d) Situation leadership

41._______________________ has been found to be the most important

trait of effective leaders.

(a)Conscientiousness (b) Extraversion (c) Emotional stability (d)

Agreeableness

42. A core component of Emotional intelligence is __________________.

(a) Empathy (b) Sympathy (c) Emotional stability (d) Friendliness

43.___________________ are a better predictor of the emergence of leaders.

(a) Behaviors (b) Traits (c) Educational qualifications (d) Followers

44.___________________theories propose that specific behaviors

differentiate leaders from non-leaders.

(a)Behavioral (b) Trait (c) Contingency (d) Situation leadership

45._______________________ was the behavioral dimension of

leadership identified by the Ohio State studies.

(a)Initiating structure (b) Employee oriented (c) concern for people (d) Production oriented.

46.______________________ was the behavioral dimension of leadership identified by the Ohio State studies.

(a)Consideration (b) Employee oriented (c) concern for people (d)

Production oriented.

47._______________________ was the behavioral dimension of

leadership identified by the Michigan State studies.

(a)Initiating structure (b) Employee oriented (c) concern for people (d)

Consideration.

48.______________________ was the behavioral dimension of leadership identified by the Michigan State studies.

(a)Initiating structure (b) Production oriented (c) concern for people

(d) Consideration

49. Fiedler developed the __________ questionnaire to identify the

style of leadership.

(a)CPL (b) PLC (c) LPC (d) PRL

50. Fiedler described a leader who is primarily interested in productivity

as __________________

(a)Task oriented (b) Employee oriented (c) People oriented (d)

Production oriented.

Page 1 of 9

SAMPLE QUESTIONS

Class: T.Y.B. Com `Subject : Direct Taxation

Semester – V

1. A person who is liable to pay income tax in India is called___________.

a. An assessee

b. An Indian Citizen

c. Resident Indian

d. Non – Resident

2. Assessment year is a period of 12 months commencing on

a. 1st day of April every year

b. 1st day of January every year

c. 1st day of June every year

d. Diwali every year

3. Income from agricultural land in Alibaug is ________-

a. Tax free in India

b. Taxable in India

c. Partly Taxable


4. Incomes which accrue or arise outside India but are received directly into India are

taxable in case of

a. Resident and Ordinarily a Resident (R & OR)

b. Resident but Not Ordinarily a Resident (RNOR)

c. Non – Resident

d. All of the above

5. Interest received from savings bank account in HDFC Bank account is taxable under

which head of income?

a. Income from other sources

b. Income from house property

c. Income from Capital gains

d. Income from business

Page 2 of 9

6. Uncommuted pension received by a government employee is

a. Exempt

b. Taxable

c. Partly taxable


7. Entertainment allowance in case of government employee is

a. Fully Exempt

b. Exempt upto limits mentioned in Section 16(ii)

c. First included in Gross Salary and thereafter deduction is allowed from gross

salary u/s 16( ii)

d. Fully Taxable

8. Compensation received on voluntary retirement is exempt to the maximum extent of

a. Rs.2,40,000/-

b. Rs.3,50,000/-

c. Rs.3,00,000/-

d. Rs.5,00,000/-

9. What are the deductions available to a government employee under Section 16 of the

Income Tax Act?

a. Standard Deduction

b. Entertainment Allowance

c. Profession Tax

d. All of the above

10. Mediclaim insurance premium paid by the empoyer is a taxable perquisite.

a. True

b. False

c. Partially taxable


11. Ashok has two house properties. Both are self - occupied. For the PY 2018-19, the

annual value of

a. Both the houses shall be Nil

b. One house shall be Nil

c. No house shall be Nil


12. Municipal Taxes Due but not paid are deducted from

a. Gross Annual Value

b. Net Annual Value

c. Municipal Value


Page 3 of 9

13. Standard deduction under Section 24 (a) from income from house property is

a. 1/3rd of NAV

b. 30% of NAV

c. Repairs actually incurred by the owner


14. Gift received by Ms. Anushka on the occasion of her marriage - Rs.8,00,000/- shall be

a. Fully Exempt

b. Fully Taxable

c. Exempt upto Rs.50,000/-


15. Dividend received from a co-operative bank is

a. Fully Exempt

b. Fully Taxable

c. Taxable if exceeds Rs.10,00,000/-


16. The amount of exemption under Section 10 for family pension received is

a. 1/3 rd of such amount subject to maximum of Rs.25,000/-

b. 1/3 rd of such amount or Rs.15,000/- whichever is less

c. 1/3 rd of such amount or Rs.15,000/- whichever is more


17. The payment for health insurance premium under Section 80D should be

a. In Cash

b. By any mode other than cash

c. Cash / Cheque


18. Deduction u/s 80 C is allowed to the maximum of

a. Rs.50,000/-

b. Rs.1,50,000/-

c. Rs.1,00,000/-

d. Rs.2,00,000/-

19. Deduction u/s. 80E shall be allowed for the higher education of _____.

a. Assessee himself

b. Assessee , spouse and children

c. Assesee and Dependent children


Page 4 of 9

20. Annual Interest accrued on NSCs VIII issue shall be

a. Exempt

b. Taxable only in the 6th

year

c. Taxable on the basis of annual accrual


21. Income from sale of household furniture is

a. Taxable Capital Gain

b. Not taxable as capital gain

c. Short Term Capital Gain

d. Long Term Capital gain

22. The cost inflation index for the previous year 2018-19 is

a. 280

b. 200

c. 100

d. 300

23. Capital Gain arises from transfer of

a. Any Asset

b. Any Fixed Asset

c. Any Capital Asset

d. Land and Building Only

24. To be a long term capital asset a residential house property should be held for more

than

a. 12 months

b. 24 months

c. 36 months

d. 60 months

25. The assessee is allowed to opt for market value as on 01/04/2001 in case of

a. All capital assets

b. All capital assets other than depreciable assets

c. Only house properties


26. What is charged to tax under ' profits and gains from business' is

a. Gross profits

b. Gross Receipts

c. Gross Turnover

d. Net Profits

Page 5 of 9

27. Under the head, business or profession , the method of accounting which an assessee

can follow shall be:

a. Mercantile system only

b. Cash System only

c. Mercantile or cash system

d. Hybrid system

28. Salary, bonus, commission or remuneration due to or received by a working partner

from the firm is taxable under the head

a. Income from salaries

b. Income from other sources

c. Income from capital gains

d. Income from business

29. Depreciation is allowed in case of

a. Tangible fixed assets only

b. Intangible assets only

c. Tangible and intangible assets

d. Wasting assets only

30. Which of the following tax is allowed as a deduction while computing his business

income?

a. Wealth tax

b. Income tax

c. GST


31. Mr. Mukesh Ambani is treated under Income tax laws as

a. Individual

b. Hindu Undivided Family (HUF)

c. Partnership Firm

d. Company

32. Rental income from house in Japan received in Japan is taxable in India for

a. Resident and Ordinarily a Resident

b. Resident but not ordinarily a resident (RNOR)

c. Non- Resident

d. All of the above

33. Gain on sale of property situated in Surat is taxable under which head of income?

a. Income from capital gains


c. Profits from business

d. Income from salaries

Page 6 of 9

34. Keerti who is entitled to a salary of Rs.20,000 per month, took an advance of

Rs.50,000/- against the salary in the month of March 2019. What is the gross amount

of salary taxable for PY 2018-19?

a. Rs.2,40,000/-

b. Rs. 50,000 /-

c. Rs.2,90,000/-

d. Rs.2,00,000/-

35. Mukesh has borrowed money for purchase of house from his friend Brett Lee of

Australia. Interest is paid in Australia. Such interest shall be

a. Allowed as a deduction

b. Not allowed as a deduction

c. Allowed as a deduction if tax is deducted at source

a. None of the above

36. The maximum limit of deduction under Section 24 (b) in respect of interest on loan

taken on 01/04/2017 for repairs of a self - occupied house is

a. Rs.30,000/- p.a.

b. Rs.2,00,000/- p.a.

c. No Limit

d. Nil

37. Winning from crossword puzzles, races and card games are taxable under the head

a. Income from house property

b. Income from business

c. Income from other sources

d. Not an income

38. For claiming exemption under Section 54 , the assessee should transfer

a. any house property

b. a residential house property

c. a residential house property the income of which is taxable under the head income

from house property


39. Expenditure incurred on family planning amongst the employees is allowed to

a. Any assessee

b. A company assessee

c. An assessee which is a company or a co-operative society


Page 7 of 9

40. The deduction u/s. 80 E shall be allowed for repayment of interest to the extent of

a. Rs.25,000/-

b. Rs.40,000/-

c. Rs.35,000/-

d. Any Amount

41. A new business was set up on 15/11/2019 and it commenced its business operation

from 01/01/2020 . The first previous year in this case shall be

a. 2019-20

b. 15/11/2019 to 31/03/2020

c. 01/01/2020 to 31/03/2020


42. If a person's stay in India is less than 182 days but more than 60 days and in the

preceding 4 years his stay is more than 365 days and he goes out for employment

abroad in the PY 2018-19, what is his residential status?

a. Resident and Ordinarily a Resident (ROR)


c. Non- Resident

d. Either of (a) or (b)

43. Profit from a business in Mumbai , but managed directly from America is taxable for

Income from capital gains

a. Resident and Ordinarily a Resident (ROR)


c. Non- Resident

d. All of the above

44. Salary received by a lecturer from college where he is employed is chargeable to tax

under which head of income?

a. Income from capital gains


c. Profits from business

d. Income from salaries

Page 8 of 9

45. Mrs. Meena is employed with MK Industries Pvt Ltd. She received the following

during the PY 2018-19

Basic Salary : Rs. 1,00,000/- per month

Bonus : Rs.1,20,000/-

Dearness allowance : Rs. 50,000 per month.

Advance salary for the month of April 2019 received on 29th March 2019 -

Rs.1,00,000/-

Compute the income under the head salaries for PY 2018-19Rs.2,50,000/-

a. Rs.12,00,000/-

b. Rs.20,20,000/-

c. Rs.19,20,000/-

d. Rs.19,00,000/-

46. Municipal Valuation - Rs.2,00,000/-

Fair Rent - Rs.2,40,000/-

Standard Rent - Rs.2,20,000/-

Actual Rent Receivable: Rs. 2,80,000/-

What is the Gross Annual Value?

a. Rs.2,20,000/-

b. Rs.2,40,000/-

c. Rs.2,80,000/-

d. Rs.2,00,000/-

47. Export cash assistance earned by any person from government is

a. Exempt from tax

b. Taxed as profits and gains from business

c. Taxed as income from other sources

d. Taxed as capital gains

48. Cost of long - term debentures is

a. Eligible for indexing

b. Not Eligible for indexing

c. None of these

d. All of these

Page 9 of 9

49. Income under the head income from other sources is taxable on

a. Due Basis

b. Receipts Basis

c. On the basis of method of accounting of the assessee


50. Mr. Murthy , aged 72 years , paid medical insurance premium of Rs.22,000/- by

cheque and Rs.1,000/- by cash during May, 2018 under a Medical Insurance scheme

of the General Insurance Corporation. The above sum was paid for insurance of his

own health. He would be entitled to a deduction under Section 80D of a sum of

a. Rs.22,000/-

b. Rs.20,000/-

c. Rs.20,000/-

d. Rs.50,000/-

Documents

TY B. Com Sem V- Cost Accounting Sample Questions V TYBCOM SAMPLE... · 2020. 9. 21. · meter during the year ending 31st March, 2006 and sold 30000 meters @ Rs.25 per meter during