Monday, May 9, 2011

BEd Entrance Exam previous questions Commerce group

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BEd Entrance Exam previous questions Commerce group

BEd Entrance Exam previous questions Commerce group
B.Ed. Entrance Question Bank
BEd Exam online Solved Paper prepare for BEd Entrance by Answering old and previous Questions
1. According to the concept of conservation, the stock in trade is valued at—
(A) Cost price
(B) Market price
(C) Cost or market price which ever is higher
(D) Cost or market price which ever is lower
Ans. (D)
2. The concept of conservation will have the effect of—
(A) Over statement of assets
(B) Understatement of assets
(C) Understatement of liabilities
(D) Understatement of provision for bad and doubtful debts
Ans. (B)
3. Non-financial information is not recorded in accounts due to—
(A) Accrual concept
(B) Entity concept
(C) Dual aspect concept
(D) Money measurement concept
Ans. (D)
4. Balance in ‘Nazrana a/c’ in the books of lessee is shown in—
(A) Landlords a/c
(B) P & L a/c
(C) Balance sheet assets side
(D) Balance sheet liabilities side
Ans. (C)
5. The hire-buyer charges depreciation on —
(A) Cash price of the asset
(B) Hire purchase price of the asset
(C) Higher of the two
(D) Lower of the two
Ans. (A)
6. In hire-purchase system, hire-buyer can maintain his accounts under—
(A) Asset accrued method
(B) Total cash price method
(C) Any of the two methods
(D) None of these
Ans. (C)
7. If the rate of gross profit for department X is 25% of cost, the amount of gross profit on sales of Rs. 100000 will be-—
(A) Rs. 16667
(B) Rs. 20000
(C) Rs. 25000
(D) Rs. 33333
Ans. (B)
8. Provision for bad debts of a foreign branch is converted at—
(A) Opening rate of exchange
(B) Closing rate of exchange
(C) Average rate of exchange
(D) Rate applicable to debtors
Ans. (B)
9. If goods are transferred from ‘X’ department to ‘Y’ department at cost + 25%, the amount of stock reserve on closing stock of Rs. 20000 in ‘Y’ department will be—
(A) Rs. 4000
(B) Rs. 5000
(C) Rs. 6000
(D) Rs. 3333
Ans. (A)
10. If out of the bills of Rs. 10000 discounted by the insolvent bills of Rs. 4000 are likely be dishonored, unsecured creditors will include in respect of them an amount of—
(A) Rs. 10000
(B) Rs.6000
(C) Rs. 4000
(D) None of the above
Ans. (C)
11. Partnership firm engaged in banking business can have maximum—
(A) 5 partners
(B) 10 partners
(C) 20 partners
(D) Any number of partners
Ans. (B)
12. Suppose, the partnership deed provides for a salary of Rs. 5000 p.m. to partner ‘X’. If ‘X’ withdraws only Rs. 3000 in a month, the remaining Rs. 2000 will be—
(A) Debited to his capital a/c
(B) Credited to his drawing a/c
(C) Credited to his current a/c
(D) Credited to P & L adjustment a/c
Ans. (A)
13. In absence of any provisions in the partnership agreement, partners can charge on the loans given by them to the firm—
(A) Interest at 6% p.a.
(B) Interest at 12% p.a.
(C) Interest at 15% p.a.
(D) No interest
Ans. (A)
14. A, B and C are partners sharing profits and losses in the ratio 4 : 3 : 2 D is admitted for 1/10th share, the new ratio will be—
(A) 4: 4: 3: 2
(B) 4: 3: 2: 1
(C) 5: 4: 3: 2
(D) None of the above
Ans. (B)
15. A and B shared profit in the ratio of 3: 2 C was admitted as a partner for 1/5th share. He acquires 3/20th from A and 1/20th from B. The new profit sharing ratio would be—
(A) 10:6:4
(B) 6:10:4
(C) 8:8:4
(D) 9:7:4
Ans. (D)
16. Goodwill of a firm of A and B is valued at Rs. 60,000. Goodwill appears in the books at Rs. 24,000. C is admitted for 1/4th share. He will be required to bring for goodwill—
(A) Rs.21, 000
(B) Rs.9, 000
(C) Rs. 15,000
(D) Rs. 6,000
Ans. (D)
17. A plant worth Rs. 800000 has been insured for Rs. 600000. The loss on account of fire is Rs. 500000. The insurance company under average clause will bear the loss to extent of—
(A) Rs. 500000
(B) Rs.600000
(C) Rs. 800000
(D) Rs. 375000
Ans. (A)
18. It is not an item of Income with reference to a voyage a/c—
(A) Passage money
(B) Freight
(C) Primage
(D) Address commission
Ans. (D)
19. The formats of the profit and loss account and Balance sheet in the case of a banking
company have been revised w.e.f.—
(A) 1st April 1949
(B) 1st April 1991
(C) 1st April 1992
(D) 1st April 1956
Ans. (C)
20. If accrued outstanding premium is given in• the trial balance of a general insurance company, then it will be shown in—
(A) Revenue Account
(B) Balance Sheet
(C) Both revenue Account & Balance Sheet
(D) None of the above
Ans. (B)

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