Model test paper for Dy. Manager (Law) in PNB Bank jobs

Model test paper for  Dy. Manager (Law) in PNB Bank jobs

Online MCQ paper for Punjab National Bank (PNB) Recruitment
objective Solved paper for PNB Recruitment Specialist officers / Management Trainees

Q.1.Which of the following enforcement mechanisms are provided by the Human Rights Committee, established under the Covenant on Civil and Political Rights, 1966?

1. Reporting procedure.

2. Conciliation Commission.

3. Arbitration.

4. Inter-state communication system.

Select the correct answer using the codes given below:

(a) 1,2and3

(b) 3 and 4

(c) 1, 2 and 4

(d) 1 and 4, only

Ans: (c)

Q. 2. Which one of the following is the correct statement?

The Customary International Law of Treaties was codified in the

(a) Vienna Convention, 1980

(b) Statute of the International Court of Justice

(c) Resolution of the U.N. General Assembly

(d) Vienna Declaration, 1993

Ans. (a)

Q. 3. Consider the following steps in the formation of a treaty:

1. Signatures of the accredited representatives.

2. Accession or adhesion.

3. Negotiation and Adoption.

4. Ratification or approval.

What is the correct order in which above find place with formation of a treaty?

(a) 1, 3, 2, 4

(b) 3, 4, 1, 2

(c) 2, 1, 3, 4

(d) 3, 1, 4, 2

Ans. (d)

Q. 4. The de facto recognition embodies which of the following legal consequences?

1. The de facto recognized state becomes entitled to sue in the courts of recognizing states.

2. Diplomatic relations is established as per the rules of International law.

3. A de facto recognized state is entitled to sovereign immunity.

4. The recognized state is entitled to succession and possession of the properties situated in the territory of the recognizing states.

Select the correct answer using the codes given below:

(a) 1, 2, 3 and 4

(b) 1, 3 and 4, only

(c) 1 and 2, only

(d) 3 and 4, only

Ans : (b)

Q. 5. Match List-I (Right) with List-II (Article in Universal Declaration of Human Right) and select the correct answer using the codes given below the lists

List-I (Right)                                                                  List II

Article in Universal Declaration of Human Rights)

A. Right to life,                                   1. Article 7

liberty and security of person

B. Equality before law                         2. Article 3

C. Right to seek asylum                       3. Article 15

D. Right to nationality                         4. Article 14

Codes:        A B C D

(a) 2 1 4 3

(b) 4 3 2 1

(c) 2 3 4 1

(d) 4 1 2 3

Answer: (a)

Q. 6. Consider the following sources of international law listed in the Article 38 of the Statute of the international Court of Justice:

1. International Custom.

2. General principles of law recognized by civilized nations.

3. International conventions.

4. Judicial decisions and teachings of publicists.

What is the chronological order of the above in the Statute of International Court of Justice?
(a)1,4, 3,2
(b)2, 1,3,4
(c)3,I,2,4
(d)2,4,1,3

Answer: (c) 3,1,2,4

Q. 7. Which of the following is/are of the constituent element(s) of the international customary law?

1 .Uniformity

2. Reasonable time

3. Constancy

Select the correct answer using the codes given below:

(a) 3 only

(b) 1 only

(c) 1 and 3 only

(d) 1,2 and 3

Ans. (c)

Q. 8. Consider the following statements about United Nations Commission on International Trade Law (UNCITRAL):

1. It was established by the General Assembly in1966.

2. The members of the Commission are elected for terms of six years.

3. The terms of one third members expire every three years.

Which of the statements given above is/are correct?

(a) 1 and 3, only

(b) 2 only

(c) 1 and 2, only

(d) 1, 2 and 3

Ans: (d)

Q. 9. Which one of the following statements is not correct?

The International Court of Justice is competent to decide the cases which are entrusted to it

(a) by the State Parties

(b) by virtue of the provisions of a treaty

(c) unilaterally and voluntarily though not consented by the other State

(d) under the clause ‘compulsory jurisdiction’

Ans: (a)

Q. 10. Which one of the following general principles of law is/are recognized by civilized nations?

1. Principles of municipal law.

2. Subsidiary means of determination of international law.

Select the correct answer using the codes given

below

(a) 1 only

(c) Both I and 2

(b) 2 only

(d) Neither 1 nor 2

Ans: (a)

Q. 11.Consider the following statements in respect of recognization of a government

1. There is no obligation on the part of a State to recognize a government of another State.

2. Recognition of a State necessarily implies recognition of government as well.

3. Recognition of a government once granted cannot be withdrawn

4: Recognition of a government once granted can be withdrawn.

Which of the statements given above is/are correct?

(a) 2 only

(b) 1 and 3

(c) 1, 2 and 4

(d) 2 and 3

Ans. (c)

Q. 12. Which one of the following may be regarded as a subsidiary means for determination of rules of international law?

(a) Law making treaties and treaty contracts

(b) International conventions and customs

(c) Juristic works and judicial/arbitral decisions

(d) General principles of law recognized by civilized nations

Ans. (c)

Q.13. De jure recognition will be conferred subject to fulfillment of which of the following requirements?

1. State to be recognized is capable of carrying internal and external relations independently.

2. State to be recognized is stable and willing to fulfill international obligations.

3. State to be recognized is capable of carrying diplomatic relation with recognized states.

4. State to be recognized is not stable and – incapable of carrying obligation under International Law,

Select the correct answer using the codes given below:

(a) 1 and 2 only

(b) 1, 3 and 4

(c) 1, 2 and 3

(d) 4 only

Ans. (a)

Q.14. Match List-I (Judicial Principle/Issue) with List (Judicial Decision) and select the correct answer using the codes given below the lists

List –I                                                                          List -II

(Judicial Principle/Issue)                                                 (Judicial Decision)

1. Retroactive effect does not                                           1. Civil Transport v Central

invalidate the acts of the previous government                       Air Transport

B. Legal effect of non-recognition                                      2. Tinoco Concessions

C. De facto recognition acts retroactively                           3.Luther v. Sagor

D. De facto insurgent government was given immunity     4. Arantzazu Mendi

A    B         C         D

(a) 1     2          3          4

(b) 4     3          2          1

(c) 1     3          2          4

(d) 4    2          3          1

Ans. (a)

Q. 15. Consider the following statements:

The principal of continuity of states means

1. the change in the government of a State does not affect the legal personality of the State.

2. the new government succeeds partially to rights and obligations of the predecessor government.

3: the change in the government of a State affects the legal personality of the State.

4. the new government succeeds absolutely to the rights and obligations of the predecessor government.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 and 4, only

(c) 3 only

(d) 1,2and4

Ans. (a)

Q. 16. Match List-I (Organ) with List-Il (Purpose) and select the correct answer using the codes given below the lists:

List-I                                                                  List-II

(Organ)                                                             (Purpose)

A. General Assembly                                   1. Improving the standards of living of people

B. The Economic and Social Council          2. Administrative Body

C. The Trusteeship Council                         3. Deliberative Body

D. The Secretariat                                        4. Safeguarding the areas entrusted

Codes:

A  B C D

(a)  4 2 3 1

(b)  3 2 4 2

(c)  4 1 3 2

(d)  3 2 4 1

Ans. (b)

Q. 17. Which one of the following is not included in the term ‘Aggression’ in the ‘U.N. General Assembly Resolution of December 15 1974?

(a) Use of armed forces by a State. against sovereignty of another ‘State

(b) Use of force by the people towards securing the right to self determination

(c) Blockade of the parts and coast of a State by the armed forces of another State

(d) The temporary attack by the armed forces of a State on the territory of another State

Ans. (b)

Q. 18. Who appoints the Secretary General of the U.N.?’

(a) The General Assembly

(b) The Security Council

(c) The judges of the International Court of Justice

(d) The General Assembly on the recommendations of the Security Council

Ans. (d)

Q. 19. Consider the following statements:

Principle of domestic jurisdiction implies:

1. that the U.N. cannot interfere with the mailers which are essentially within the domestic jurisdiction of a state.

2. that any matter which is regulated by International Law may not be a matter within the domestic jurisdiction of a State.

3. that the principle of domestic jurisdiction shall not prejudice the application of enforcement measures under Chapter VII of the U.N. Charter.

Which of the statements given above are correct?

(a) 1,2and 3

(b) l and 3, only

(c) 1 and 2, only

(d) 2 and 3, only

Ans: (b)

Q.20. Who out of the following is entrusted with the job of enforcement of the judgments of the International Court of Justice?

(a) The General Assembly of the U.N.

(b) The Security Council of the U.N.

(c) Both the General Assembly and the Security Council -

(d) The International Court of Justice

Ans. (b)

Q. 21. Match List-I (Subject) with List-!! (Article of ICESCR) and select the correct answer using the codes given below the lists

List-I                                                                                  List-II

(Subject)                                                                   (Article of ICESCR)

A. The right to fair conditions of employment          1. Article 3

B. The right to work                                                   2. Article 5

C. Equality between men and women                        3. Article 6

D. The right to form and join                                     4. Article 7

trade unions                                                               5. Article 8

Codes:

A    B        C           D

(a) 4     1          2          5

(b) 5     3          1          4

(c) 4     3          1          5

(d) 5    1          2          4

Ans. (c)

Q. 22. Match List-I (Agency) with     List-II (Procedure/Covenant) and select the correct

answer using the codes given below lists:

List-I                                                                        List-II

(Agency)                                                        (Procedure/Covenant)

A. Human Rights Committee                1.Country mechanisms or mandates; and thematic

mechanisms or mandates

B. U.N. Commission Human Rights     2. The Covenant on Economic, Social and

Cultural Rights, 1966

C. Economic and Social Council            3.Optional Protocol to International Covenant

on Civil and Political Rights, 1966

D. Individual Communication System   4.The international Covenant on Civil and

Political Rights, 1966

Codes:

A B C D

(a)3 2 1 4

(b)4 1 2 3

(c)3 1 2 4

(d)4 2 1 3

Ans: (b)

Q. 23. What does violation of right actionable per se

mean ?

(a) Not actionable

(b) Actionable without proof of any damage

(c) Actionable on proof of actual damage

(c Actionable against some persons only on proof of damage

Ans. (b)

Q. 24. Which one of the following statements is correct?

Grundnorm is the basis hypothesis of:

(a) H. Kelsen

(b) J. Austin

(c)H.EA. Hart

(d) H. Gray

Aim. (a)

Q. 25. Which of the following are correct combinations?

1. Bentham and natural law.7

2 Austin and positivism.

3. Roscoe Pound and sociological jurisprudence.

4. Henry Maine and philosophical school.

Select the correct answer using the codes given

below

(a)1 and 2,only

(b) 2 and 3, only

(c)3 and 4

(d) 1, 2 and 3

Ans. (b)
Directions: Below are two statements, labeled as Assertion (A) and Reason (R). In the context of the two statements, which of the following is correct ?

(a) Both A. and R are true and R is the correct explanation of A.

( b)Both A and R are true but R is not the correct explanation of A.

(c) A is true but B is false.

(d) A is false but R is true.

Q. 26. Assertion (A) : Once a decision is overruled, it loses its binding authority.

Reason (R) Precedent is a source of law.

Ans. (b)

Q, 27. Assertion (A) : Savigny was Darwinian before Darwin.

Reason (R) : Savigny applied the theory of evolution to law before the enunciation of the doctrine of evolution by Darwin.

Ans. (a)

Q. 28. Assertion (A) : Analytical school of jurisprudence believes in thread   bare analysis of the concepts like person, property, ownership, possession, right etc.

Reason (R) Analytical school of jurisprudence believes in threadbare analysis of the history of law.

Ans: (c)

Q. 29. Assertion (A) : Owner of property has a right to destroy the same.

Reason (R) Right to ownership includes the right to hold, possess, enjoy, alienate as well as destroy.

Ans. (a)

Q. 30, Which one of the following sets does not represent

tests of authority of custom ?

(a) Continuance, peaceable enjoyment

(b) Antiquity, obligator force

(c) Certainty, reasonableness

(d) Codification; moral

Ans. (d)

Q. 31. Match List-J(Source) and List (Related Matter) and select the correct answer using the codes given below the lists

List I                                                                         List I

(Source)                                                             (Related Matter)

A. Legislation                                                    1.Overruling

B. Subordinate legislation                                 2.Immemorable origin

C. Custom                                                         3.Guest control order

D. Precedent                                                      4.Indian Penal Code

5. Constitution

Codes:

A   B   C    D

(a)  4    3    2     1

(b)  2    1    5     3

(c)  4    1    2    3

(d)  2   3    5    1

Ans: (a)

Q. 32. Consider the following statements

1, Custom is a usage followed by the people and adopted by the courts.

2. Custom originates by individual technique.

3. Legislation cannot abrogate custom.

Which of the statements given above is/are correct?

(a) 1 only

(b) 1,2and3

(c) 1 and 2 only

(d) 2 and 3 only

Ans. (a)

Q. 33. Which one of the following pairs is not correctly matched?

(a) Conventional Custom: Usage

(b) Legal Custom: Binding rules of law

(c) Valid Custom: Reasonableness

(d) Usage: Common law

Ans. (d)

Q. 34. According to Salmond, which theory of punishment out of the following is in itself not a remedy for the mischief of the offence but an aggravation of it and it invites pain and suffering and is offensive to the considerations of the humanity?

(a)Retributive

(b) Deterrent

(c)Preventive

(d) Expiatory

Ans. (a)

Q. 35. Match List-I (Exponent) with List-II (School of Jurisprudence) and select the correct answer using the codes given below the lists:

List-I                                                               List-II

(Exponent)                                                         (School of Jurisprudence)

A.A.H Kelsen                                                   1. Natural

B. F. Savigny                                                    2, Pure Theory

C. J. Rawis                                                        3. Sociological

D. H. Maine                                                      4. Historical

Codes:

A  B C D

(a) 2 1 3 4

(b) 4 3 1 2

(c) 2 3 1 4

(d) 4 1 3 2

Ans: (a)

Q. 36. Consider the following statements

St. Thomas Aquinas

1. belongs to Dark Ages.

2. is a naturalist,

3. supports use of force by the Church.

4. uses rational arguments to promote the authority of the Church.

Which of the statements given above are correct?

(a) l and3

(b) 2and4

(c) 1and 4

(d) 2and3

Ans. (d)

Q. 37. Consider the following statements

Naturalists think of law in time-frame of continuum and positivists think in the time-frame of the present because:

1. law is a continuous process.

2. law and life are in a continuous process.

3. natural law is of divine origin whereas positive law is man-made.

Which of the statements given above is/are correct?

(a) 3 only

(b) 2 and 3, only

(c) l, 2and3

(d) 1 only

Ans. (a)

Q. 38. Consider the following statements

1. Imperative has to originate from normative.

2. Law is both a system of norms and a form of social control.

3. Province of jurisprudence is to observe the wants for the supply of which laws have been invented.

4. Prime junction of law is to protect ethics and morality.

Which of the statements given above are correct?

(a) 1,2and3

(b) 2,3and4

(c) 1,3and4

(d) 1,2and4

Ans. (d)

Q. 39. Who among the following propounded the theory of Volkgeist?

(a) Henry Maine

(b) Montesquieu

(c) Roscoe Pound

(d) F. Savigny AS.

Ans: (d)

Q. 40. Consider the following statements

1. Many positivists concede the existence of objectively valid moral propositions.

2. Many positivists concede that moral principles may be treated as superior to positive rules.

3. Positivists contend that laws are man-made and can be just or unjust

4. Positivists contend that natural law shall have no significance if a positive rule of law provides otherwise.

Which of the statements given above are correct?

(a) 1, 2, 3 and 4

(b) 1 and 2, only

(c) 1, 3 and 4, only

(d) 2, 3 and 4, only

Ans. (c)

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Reasoning Practice Questions Single Window Operator in PNB

Reasoning Practice Questions Single Window Operator in PNB
Punjab National Bank (PNB) Single Window Operator (SWO) Selection Practice test
PNB Single Window Operator Clerks Exam Model test

Direction (1-2) Study the information given below and answer thequestions that follow:
On the p1ay grould, Dinesh, Kunal, Nitin, Atul and Prashant it are standing as described below facing the North
(i) Kunal is 40 metres to the right of Atul
(i i)Dinesh is 30 metres to the South of Kunal
(iii) Nitin is 25 metres to the West of Atul
(iv) Prashant is 100 metres to the North of Dinesh

1. Who is to North-east of the person. who is to the left of Kunal ?
(1) Prashant
(2) Dinesh
(3) Nitin
(4) Atül
Ans:-1

2. If a boy walks from Nitin meets Atul followed by kunal, Dinesh and Prashant, how many metre has he walked if he travelled the straight distance all through?
(1) 245. metres
(2) 155 metres
(3) 155 metres
(4) 225 metres
Ans:-4

3. Roshan is taller than Rahul who is shorter than Sushil. Mirza is taller than Harry but shorter than Rahul. Sushil is shorter than Roshan. Who the the tallest?
(1) Harry
(2) Roshan
(3) Sushil
(4) Rahul.
Ans:-2

4. In previous question, who is the shortest?
(1) Roshan
(2) Harry
(3)Mirza
(4)Rahul
Ans:-2

Directioñ (5-9): Fill in the next number in the series

5. 15, 13, 10, 8, 5, 3, ______
(1)2
(2)4
(3)0
(4)1
Ans:-3

6. 2, 5, 11, 23, 47, ______
(1)59
(2)79
(3) 95
(4) 96
Ans:-3

7. 4, 10, 23, 50, ________
(1) 98
(2) 105
(3) 104
(4)100
Ans:-2

8. 27, 18, 11, 6, _______
(1)3
(2)2
(3)1
(4)0
Ans:-1

9. 3, 15, 39,. 75, _________
(1) 101
(2) 123
(3) 93
(4) 223
Ans:-2

10. Select from the given diagrams, the one that illustrates the relationship among the given three classes:

Judge, Thief, Criminal

Ans:-3

11. Which of the following sets is the best represented in the given diagram?

(1) Animals, insects, cockroaches
(2) Country, States, Districts
(3) Animals, Males, Females and Hermaphrodites
(4) States, Districts, Union Territory
Ans:-4

12. IF MINJUR is coded. as .312547 and TADA as 6898, how can MADURAI be coded?
(1) 3498178
(2) 3498871
(3) 3849781
(4) 3894781
Ans:-4

13. If MASTER is coded as 411259 then POWDER will be coded as:
(1) 7 65439
(2) 7 65439
(3) 76549
(4)765549
Ans:-3

14. If GO = 32, SHE = 49, then SOME will be equal to:
(1)56
(2)58
(3) 62
(4) 64
Ans:-3

15 A is the brother of B, is the brother of C, C is the husband of D, and E is the Father of A, then what is the relation D with B?
(1) daughter
(2) wife
(3) sister
(4) None of these
Ans:-2

Directions (15-17): In the ff lowing questions pick up the word that does not belong to the group or is different from others.

15.
(1) Breathing
(2) Whistling
(3) Singing
(4) Crying
Ans:-1

16.
(1) Gujarati
(2) Oriya
(3) Urdu
(4) Magadhi
Ans:-4

17.
(1) Eye-brow
(2) Foot
(3) Ear
(4) Nose
Ans:-2

18. A person facing north walks 5m straight. He turns 90° in anticlockwise direction and then 135° clockwise and walks another 10 m straight. Which direction is he facing now?
(1) North-West
(2) South-East
(3) North-East
(4) South-West
Ans:-3

19. If in English alphabet A replaces E, E replaces I, I replaces 0, 0 replaces U and U replaces A, then which letter will be eleventh in English alphabet?
(1)J
(2) L
(3)M
(4) K
Ans:-4

20. Arrange the following words in a logical order:
A. Constellation
B. Galaxy
C. Universe
D. Stars
D. Planets
(1) A, C, B, D, E
(2) B, C, A, D, E
(3) C, A, D, B, E
(4) C, B, A, D, E
Ans:-4

21. If A is sister of B, B is sister of C and D is mother of A, then which of the following statements is not correct?
(1) A, B and Care children of D
(2) C is brother of And B
(3) B is daughter of D
(4) A is sister of C
Ans:-2

22. In a certain code language BRINK is written as 29952. How will the word
CLOAK be written in that code language?
(1) 38612
(2)23622
(3)33612
(4) Data inadequate
Ans:-3

23. In the following number series one number is wrong. Find out that number.
3 6 7 9 11 14 15 18
(1)6
(2)9
(3) 14
(4)15
Ans:-3

24. If the following numbers are rearranged by interchanging tens and hundreds digits, what will be the middle digit of the fourth smallest number?
735, 376, 537, 786, 377
(1)7
(2)5
(3)8
(4)3
Ans:-1

25. Pick out if STARS : RANK then:
(1) STARS : FORTUNE
(2).SKY: MILKWAY
(3) RED: DANGER
(4) BLUE: BLACK
Ans:-3

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FCI General Accounting and Finance Sample Solved Questions Model Paper MT (Accounts).

FCI General Accounting and Finance Sample Solved Questions Model Paper MT (Accounts).
FCI Food Corporation of India test for MT (Accounts) consists of 90 questions on General Accounting and Finance.
FCI MT accounts practice paper

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’s 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 dishonoured, 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. 60000. Goodwill appears in the books at Rs. 24000. C is admitted for 1/4th share. He will be required to bring for goodwill—
(A) Rs.21000
(B) Rs.9000
(C) Rs. 15000
(D) Rs. 6000
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
(C) Rs. 800000
(B) Rs.600000
(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 accured 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)

21. Inventory is valued at lower of the cost or net realisable value on account of the accounting principle of—
(A) Realisation
(B) Consistency
(C) Conservatism
(D) None of the above
Ans. (A)

22. In the period of rising prices, LIFO method may result in—
(A) Lowering the profit
(B) Raising the profit
(C) Raising the tax liability
(D) None of the above
Ans. (B)

23. Given,
Total assets turnover 4
Net Profits 10%
Total Assets Rs. 50000
Net profit will be—
(A) Rs. 15000
(B) Rs. 10000
(C) Rs. 25000
(D) Rs.20000
Ans. (D)

24. A company auditor addresses his audit report to-
(A) Board of directors
(B) Members
(C) Managing director
(D) Company secretary
Ans. (B)

25. Bonus shares means shares issued to—
(A) Workers
(B) Existing equity shareholders
(C) Preferential shareholders in lieu of dividend
(D) Debenture holders in lieu of interest
Ans. (B)

26. Which of the following does not call for physical verification?
(A) Stock
(B) Plant
(C) Loose tools
(D) Goodwill
Ans. (D)

27. Cash from operations is equal to—
(A) Net profit + increase in current assets
(B) Net profit + decrease in current liabilities
(C) Profit from operation ± Adjustment of increase and decrease in current assets and liabilities
(D) Fund from operation ± Adjustment of increase and decrease in current assets and current liabilities
Ans. (C)

28. Average profit of a firm is Rs. 9000 Firm’s capital is Rs. 60000 and normal return on business is expected at 10%. The goodwill by capitalisation method will be-
(A) Rs. 30000
(B) Rs. 20000
(C) Rs. 25000
(D) Rs. 40000
Ans. (A)

29. Which of the following is not a current liability?
(A) Bank overdraft
(B) Redeemable debentures
(C) Account payable
(D) Provision for bad debts
Ans. (B)

30. Amount of under writing commission payable on the issue of debentures is limited to—
(A) 2%
(B) 2.5%
(C) 3%
(D) 5%
Ans. (B)

31. Which of the following acid test ratio can be said to be satisfactory?
(A) 2: 1
(C) 1: 1
(B) 1: 2
(D) None of these
Ans. (C)

32. The two factor theory of motivation was propounded by—
(A) Peter Drucker
(B) Herzberg
(C) McGregor
(D) Maslow
Ans. (B)

33. Which of the following leadership styles is most commonly found now a day?
(A) Autocratic
(B) Democratic
(C) Free rein
(D) Participative
Ans. (B)

34. Deciding in advance what is to be done in future is called—
(A) Management
(B) Coordination
(C) Planning
(D) Decision-making
Ans. (C)

35. The organisation structure where there is direct vertical relationship is called—
(A) Line organisation
(B) Chain organisation
(C) Command organisation
(D) All the above
Ans. (D)

36. When managers devote their attention only to those events where results are highly deviated from normal; ft is called—
(A) Management by objective
(B) Management by exception
(C) Management by crisis
(D) Management by choice
Ans. (B)

37. Under delegation of authority—
(A) Authority is given to subordinates
(B) Authority flows from top to bottom
(C) Delegator of authority is not received of accountability
(D) All the above happens
Ans. (D)

38. The process of determining by observation and study and reporting pertinent information relating to the nature of specific job is called—
(A) Job specification
(B) Job evaluation
(C) Job analysis
(D) Job description
Ans. (C)

39. In case of a private company—
(A) There is restriction on the right to transfer of shares
(B) The number of members is restricted
(C) Invitation to public for the subscription of shares is prohibited
(D) All of the above
Ans. (D)

40. A person at anyone time can not be DIRECT of more than—
(A) 1 Company
(B) 7 Companies
(C) 15 Companies
(D) 20 Companies
Ans. (C)

41. Certificate of commencement of business is not required by a—
(A) Public company
(B) Any type of company
(C) Private company
(D) Private company subsidiary to a public company
Ans. (C)

42. Henry Fayol is known for—
(A) Scientific management
(B) Rationalisation
(C) Industrial psychology
(D) Principles of managements
Ans. (D)

43. The principle of unity of command’ implies—
(A) Unity of thought and action
(B) Unity amongst subordinates
(C) Instructions from staff authority
(D) Instructions from line authority
Ans. (D)

44. A company has equity capital of Rs. 200000. Preference capital of Rs. 100000, 12% debentures of Rs. 100000, long term loan of Rs. 200000 and short term loan of Rs. 100000. The capital gearing ratio will be—
(A) 1:1
(B) 0.5: 1
(C) 0.4: 1
(D) None of the above
Ans. (C)

45. In case of a company, total assets less outside liabilities is called—
(A) Net working capital
(B) Gross working capital
(C) Deferred liabilities
(D) Net worth
Ans. (D)

46. If opening sales is Rs. 10000 purchases Rs. 30000 direct expenses Rs. 4000 and closing stock Rs. 5000 the costs of goods is sold would be—
(A) Rs. 39000
(B) Rs. 40000
(C) Rs.41000
(D) Rs. 44000
Ans. (A)

47. Premium on issue of shares is shown in balance sheet as—
(A) An asset
(B) A liability
(C) An expense
(D) A revenue
Ans. (B)

48. Which of the following is known as ‘backbone of auditing’?
(A) Verification of assets
(B) Internal check
(C) Vouching
(D) Internal audit
Ans. (C)

49. A limited company? 100 shares of Rs. 10/- cash fully called up on which Rs. 4/- per share was paid up. The company reissued 50 shares at the rates of Rs. 8/- each. The amount transferred to capital reserve will be—
(A) Rs. 500
(B) Rs.200
(C) Rs. 250
(D) Rs. 100
Ans. (D)

50. Sale of long term investments indicates—
(A) A change in current assets
(B) Application of funds
(C) Increase in working capital
(D) Source of funds
Ans. (D)

51. Net working capital refers to—
(A) Current assets
(B) Current assets minus current liabilities
(C) Equity share capital minus fixed assets
(D) Retired earnings.
Ans. (B)

52. If sales Rs. 6000 gross profit is 1/3 on cost, purchases are R. 4900 and the closing stock is Rs. 900, the opening stock will be—
(A) Rs.400
(B) Rs.500
(C) Rs. 1100
(D) Rs. 2000
Ans. (B)

53. The primary objective of audit is—
(A) Detection and prevention of frauds
(B) Detection and prevention of errors
(C) Detection of frauds and errors
(D) To ensure the final accounts and statements exhibit true and fair position of business
Ans. (D)

54. ‘An auditor is a watch dog and not a blood hound’. This was observed in case of— (A) London oil storage company
(B) Kingston cotton Mills Limited
(C) London General Bank
(D) Delightful Cigarette Company Ltd.
Ans. (B)

55. If two or more sugar mills combine together, it is known—
(A) Horizontal combination
(B) Vertical combination
(C) Lateral combination
(D) None of the above
Ans. (A)

56. Surrender value is related to—
(A) Marine insurance
(B) General insurance
(C) Life insurance
(D) Fire insurance
Ans. (C)

57. Over capitalisation refer to—
(A) Excess of capital
(B) Excess rate of dividend payment, on shares
(C) Over estimation of rate of capitalisation
(D) Raising more capital than is warranted by its earning power
Ans. (D)

58. Motivation refers to—
(A) Coordinate the people
(B) Guide the working people
(C) Terrorise the people
(D) Inducing people to work willing by
Ans. (D)

59. Which of the following is not a barrier in communication—
(A) Fear and distrust
(B) Affection
(C) Perception
(D) Noise
Ans. (B)

60. “Management is an art of getting things done through and with formally organised group.” This definition has been by—
(A) Peter Drucker
(B) Henry Fayol
(C) Harod Koontz
(D) F. W. Taylor
Ans. (C)

61. Foreign exchange for import of goods is sanctioned by—
(A) Exim Bank
(B) Reserve Bank of India
(C) State Bank
(D) Ministry of commerce
Ans. (B)

62. The cost of a machine having a span of life of 5 years is Rs. 10000. It has a scrap value of Rs. 1000. The amount of depreciation in the first year under the sum of year’s digit method will be—
(A) Rs. 1600
(B) Rs. 1800
(C) Rs. 2000
(D) Rs. 3000
Ans. (D)

63. Given:
Gross profit Rs. 60000
Gross profit ratio: 20%
Debtor’s velocity 2 months
The amount of debtors will be—
(A) Rs. 30000
(B) Rs. 50000
(C) Rs. 120000
(D) Rs.200000
Ans. (B)

64. Premium on issue of shares can be used for—
(A) Issue of Bonus shares
(B) Payment of Dividends
(C) Payment of operating expenses
(D) Redemption of debentures
Ans. (A)

65. If current ratio is 25, quick ratio (1) 5 and net working capital Rs. 15000. This value of inventory will be—
(A) Rs. 10000
(B) Rs. 15000
(C) Rs. 37500
(D) Rs. 52500
Ans. (A)

66. Unclaimed dividend is shown on the liability side of the balance sheet under the heading—
(A) Revenue and surplus
(B) Provisions
(C) Current liabilities
(D) Miscellaneous items
Ans. (C)

67. Accounting standards in India are prescribed by—
(A) Company Law Board
(B) Institute of charted accountants of India
(C) Institute of coat and works accountants of India
(D) Indian standard Board
Ans. (B)

68. Which of the following is not correct—
(A) Purchase + Opening stock—Cost of goods sold = Closing stock
(B) Opening stock + Purchases — Closing stock = Cost of goods sold
(C) Closing stock + Cost of goods sold — Purchases = Opening stock
(D) Cost of goods sold — Closing stock + Purchases = Opening stock
Ans. (D)

69. A company bought assets worth Rs. 360000 and in lieu issued debentures of Rs. 100 each at a discount of 10%. The number of debentures issued will be—
(A) 3000
(B) 3600
(C) 3960
(D) 400
Ans. (D)

70. A person got insured his goods worth Rs. 10000 for Rs. 80QO against fire. Loss by fire to him was Rs. 9000. He can claim—
(A) Rs. 8000
(B) Rs. 9000
(C) Rs. 10000
(D) Rs. 7200
Ans. (D)

71. The data obtained from a newspaper are—
(A) Primary data
(B) Secondary data
(C) Both (A) and (B)
(D) None of these
Ans. (B)

72. Current Ratio of a firm is 3: 1 and working capital is Rs. 60000. What will be the amount of current Assets—
(A) Rs. 30000
(B) Rs90000
(C) Rs. 120000
(D) Rs. 180000
Ans. (B)

73. The income from that house property is taxable under the head “Income from House property”.
(A) The assessee has ownership on that house
(B) The assessee uses that house for his business
(C) The assessee himself lives in that house
(D) The assessee has let out that house on rent for residence
Ans. (A)

74. Following is the deduction in respect of repair under the head of income from house property—
(A) 25% of Annual Value
(B) 30% of Net Annual Value
(C) 1/5 of Annual Value
(D) 1/5 of Net Annual Value
Ans. (B)

75. Single entry system can not be maintained by—
(A) Sole proprietorship
(B) Partnership concerns
(C) Joint stock company
(D) All of these
Ans. (D)

76. Cash account will not be affected by—
(A) Cash paid to creditors
(B) Discount received
(C) Cash sales
(D) Cash received from debtors
Ans. (B)

77. Maximum standard Deduction for employees getting gross salary not more than Rs.
100000 is allowed—
(A) Rs. 20000
(B) Rs. 25000
(C) Rs. 30000
(D) Rs. 33000
Ans. (C)

78. Tax audit is compulsory in case of a person carrying on business whose gross receipt) turnover/sales and exceeds—
(A) Rs. 50 Lakhs
(B) Rs. 40 Lakhs
(C) Rs. l0 Lakhs
(D) Rs. 25 Lakhs
Ans. (B)

79. Mr. Rastogi of Meerut was declared insolvent. One of his liabilities related to one months rent due to his landlord. This liability will be treated as—
(A) Preferential Creditor
(B) Partly Secured Creditor
(C) Fully Secured Creditor
(D) Unsecured Creditor
Ans. (A)

80. When two or more companies liquidate to form a new company. It is called—
(A) Amalgamation
(B) Absorption
(C) Reconstruction
(D) Purchase of Business
Ans. (A)

81. A, B and C are partners in a firm. If D is to be admitted to the firm as a new partner—
(A) Old firm has to be dissolved
(B) Old partnership has to be dissolved
(C) Both the old firm and the old partnership have to be dissolved
(D) No need to dissolve either firm or the partnership
Ans. (D)

82. Remington sold one typewriter to Ramesh Chandra under installment purchase system on 1st January 1996, payment for which was to be made as under—
On 01.01.1996 - Rs. 3000
On 31.12.1996 - Rs. 1700
On 31.12.1997 - Rs. 3600
On 31.12.1998 - Rs. 2300
On 31.12.1999 - Rs. 1100
Interest at 10% p.a. is included in each installment. The total interest charged amount to-
(A) Rs.2100
(B) Rs. 1950
(C) Rs. 1800
(D) Rs. 1700
Ans. (B)

83. The liquidator of a company is entit1edio a remuneration of 2% on assets realised, and 3% on the amount distributed to unsecured creditors. The assets realised Rs. 100000 including cash balance of Rs. 3000. Amount available for distribution to unsecured creditors before paying liquidators remui4eration was Rs. 46350 liquidator’s remuneration will be—
(A) Rs.3100
(C) Rs. 3290
(B) Rs.3140
(D) Rs. 3350
Ans. (C)

84. EXIM Bank was established on—
(A) 1st Dec 1984
(B) 1st June 1985
(C) 1st Jan 1982
(D) 1st July 1980
Ans. (C)

85. For capital gain being long term capital gain, an assessee should retain the assets for a period of—
(A) 40 months
(B) 36 months
(C) More than 36 months
(D) Less than 36 months
Ans. (C)

86. The salary received by a member of parliament is—
(A) Exempt from Tax
(B) Taxable under the head of salary
(C) Taxable under the head of other sources
(D) Taxable under the lead of business
Ans. (C)

87. For the purpose of income tax it is necessary for agriculture income that—
(A) Land should be used for agricultural activities
(B) Land should be used for godown
(C) Land should be used for irrigation
(D) None of above
Ans. (A)

88. Depreciation is allowed on—
(A) Tangible Assets
(B) Current Assets
(C) Fixed Assets
(D) Intangible Assets
Ans. (C)

89. When shares are forfeited, the share capital account is debited by—
(A) Nominal value of forfeited shares
(B) Paid up amount of forfeited shares
(C) Called up amount on forfeited shares
(D) Forfeited amount of shares
Ans. (C)

90. The term ‘POIM’ for the four functions of management. Planning, organisation, integration and measuring was given by.—
(A) F.W. Taylor
(B) Harold Smiddy
(C) Tanon Brown
(D) Peter F. Drucker
Ans. (B)

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