(QUESTION PAPER CODE 26/2015)
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1. Balance sheet shows:
Static financial position.
2. Cash payment as interest on debentures and loans is a ……… activity.
Financing.
3. The portion of the value of work that the architect of the contractee agrees as to have been done is :
Work certified.
4. Work on cost is otherwise called:
Works overhead.
5. In funds flow statement, fund means:
Working capital.
6. Dividend declared in between two annual general meeting is :
Interim dividend.
7. The discount on reissue of forfeited shares should not exceed:
The amount paid by the original holder.
8. Production budget is a …………budget.
Functional.
9. ………….is an application of fund.
Purchase of fixed asset.
10. ……………..cost is also known as period cost.
Fixed.
11. Piece meal distribution is in connection with:
Dissolution of firm.
12. ……………commission is given for bearing risk of bad debts.
Delcredere.
13. Debit note is prepared in connection with:
Return outwards.
14. ……………system is a method of accelerating the cash inflows.
Lock Box.
15. A buffer to meet the un anticipated increase in the usage of material is called:
Safety stock.
16. A project requires an initial investment of Rs.8,00,000 with annual cash inflow of Rs.2,00,000 for five years. Its payback period is :
4 years.
17. Assets sold by a firm in the capital market to raise fund is called:
Financial assets.
18. Capital gearing refers to the relationship between equity capital and :
Long term debts.
19. Profitability index is a method of :
Evaluation of investment projects.
20. Working capital is also known as ………..capital.
Circulating.
21. The method which recognize the time values of money by combining pay back with the net present value is :
Discounted pay back period.
22. The funds invested in total current assets is termed as:
Gross working capital.
23. The quality of management is not directly disclosed in the books of accounts because of :
Money measurement concept.
24. Amount withdrawn by the proprietor for personal use reduces both:
Assets and owners equity.
25. Cost of equity share is influenced by :
(A) Dividend growth rate (B) Growth rate of earnings.
(C)Both (A) and (B) (D) None of these.
Ans: (C)
26. ………. Represents minimum requirements for extending credit to a customer.
Credits standard.
27. The difference between the total present value of a stream of cash flow of a given rate of discount and the initial capital outlay is known as :
NPV.
28. According to ……….. approach, the total value of the firm remains constant irrespective of the debt –equity mix.
Net operating income.
29. The arbitrage process is the operational justification of :
MM hypothesis.
30. ………. refers to that EBIT level at which EPS remains the same irrespective of the Debt-Equity mix.
Point of indifference.
31. In case of ………factoring, the factor assumes the risk of bad debts.
Non recourse.
32. In case of firms having r>k, the optimum dividend policy requires …….pay out ratio.
0%.
33. …….. committee suggested inventory and receivable norms for 15 major industries.
Tandon.
34. JIT inventory system was pioneered in :
Japan.
35. Depreciation is included in costs in case of ……….method.
ARR.
36. …………..is a form of equity financing designed specially for funding high risk and high reward project?
Venture capital.
37. Operating lease is favoured by lessee in respect of assets which depreciate in value on account of :
Obsolescence.
38. Stock split is a remedy for :
Under capitalization.
39. The accept-reject result of NPV and IRR is the same if :
Projects are independent.
40. In India, the issue of commercial papers came into being after the recommendations of :
Vaghul Committee.
41. The loss incurred on an incomplete contract is transferred to ……..account.
Profit and loss.
42. ……… is a selective inventory control technique.
ABC analysis.
43. The guidance and regulation of the cost of operating by executive action is called:
Cost control.
44. ……….. is that segment of activity of a business which is responsible for both revenue and expenses.
Profit centre.
45. Bonds issued without any rate of interest is called:
Zero Coupon bond.
46. When the same transaction is recorded twice in the books of accounts, the error is called:
Error of duplication.
47. Carriage outward is an item of …………overhead.
Distribution.
48. …………refers to excess of absorbed overhead over the actual overhead.
Over absorption.
49. Operating cycle is :
Inventory conversion period plus debtors conversion period.
50. If the debentures carry interest @ 10% per annum and corporate tax rate is @ 30%, cost of debt is :
7%.
51. The essentials of a valid contract is provided under,………..of the Indian Contract Act:
Section 10.
52. A contract without consideration is :
Void.
53. A minor’s contract was held to be void in the case:
Mohoribibi V Dharmodas Ghosh.
54. Section 13(f) of the Indian Partnership Act provides for :
Indemnity in favour of the firm against a partner.
55. Which is correct about the following statements?
(1)A counter offer terminates the original offer.
(2) Quotation of price is an offer.
(3) Acceptance to an offer is like a lighted match to a train of gun powder.
Ans: (1) and (3) are correct.
56. When goods are displayed in a shop window with price tags attached to them, it amounts to :
Invitation to an offer.
57. The damages under Section 73 of the Indian Contract Act are:
Compensatory.
58. Which section of the Indian Contract Act, deals with agreement in restraints of legal proceedings?
(A)Sec 27 (B)Sec.29 (C) Sec 30 (D) None of the above.
Ans: (D) None of the above.
59. A partner has no implied authority:
To enter into partnership with other person in other business.
60. Where one of the parties under a mistake as to matter of fact, the contract is?
Void.
61. A property belonging to a partner on entering into a partnership and used for the purpose of partnership:
Remain the property of the partner.
62. Section40 of Indian Partnership Act provides for:
Dissolution by agreement.
63. Which one of the following does not amount to fraud?
(A)a Promise made without any intention of performing it.
(B)Active concealment of fact.
(C)Suggestion of a fact of that which is not true by one who does not believe it to be true.
(D)a representation made without knowing it to be false, honestly believing it to be true.
Ans:(D).
64. Which of the following is a contract?
(A) an undertaking in writing duly signed to pay the time barred debt.
(B) an agreement to do a lawful act by an unlawful means.
(C)an agreement in restraint of trade.
(D)a wagering agreement.
Ans: (A).
65. The liability of a partner:
Joint and several.
66. Section……. of sale of Goods Act, 1930, enumerates the doctrine of ‘Nemo dat quod non habet’.
Section 27.
67. The term “Mercantile agent” defined under sale of Goods Act means an agent having in the customary course of business as such agent authorised to:
(A)raise money on the security of goods.
(B)buy goods.
(C)Sell goods or consign goods for the purpose of sale.
(D)either(A)or (B) or(C).
Ans: (D)either(A)or (B) or(C).
68. A contract of sale under Section 4 of the sale of goods may be:
Either absolute or conditional.
69. The unpaid seller of goods can waive his right to lien:
Expressly or impliedly.
70. Conditions and warranties are defined in Section………… of the sale of Goods Act.
Section 12.
71. The principle of caveat emptor is enunciated under section …………of the sale of Goods Act:
Section 16.
72. The term ‘Person’ defined under the Kerala Value added Tax includes:
(A)an individual (B)a local authority (C)central government.(D)all of the above.
Ans:D.
73. The turnover on which a dealer shall be liable to pay tax after making the deductions from his total turnover is called:
Taxable turnover.
74. Every dealer whose total turnover in any year is not less than ………………should get compulsory registration.
Five lakh rupees.
75. “No tax shall be levied or collected except by authority of law”. This is provided under:
Article 265.
76. Sale under section 3 of the Central Sales Act means, any transfer of goods by one person to another:
(A) For cash alone (B) for deferred payment (c) On hire purchase (D) Either(A) or(B) or (C).
Ans:D.
77. The term goods under Section 2(d) of the Central Sales Tax Act 1956 includes:
All movable properties.
78. An Indian company is always:
Resident in India.
79. According to Section 2(34) of the Income Tax Act 1961. Previous year means, year:
April 1st to March 31st of next year.
80. The term Assessee means:
(A) a person by whom any tax or any other sum of money payable.
(B) every person who is deemed to be an assessee in default.
(C) every person who is deemed to be an assessee
(D) All of the above.
Ans: D.
81. In one of the following cases Mr.A.B.Vajpayee, before he became the Prime Minister of India, was a respondent. The case was:
(A) Hindutwa Case (B) Habeas Corpus Case (C) Fundamental Rights Case
(D) None of the above.
Ans: B.
82. In R.C.Cooper V. Union of India, the Supreme Court declared as unconstitutional one of the following Constitution (Amendment) Acts, which is :
Fourth Amendment Act.
83. What is the maximum age fixed by the Food Security Act for providing nutritional entitlements to children of school-going age?
14.
84. The maximum number of Judicial Members excluding the Chairperson Green Tribunal is :
Twenty.
85. Any man who follows a woman and contacts repeatedly despite a clear indication of disinterest by such woman is punishable under Section 354D of the Indian Penal Code for the offence of :
Stalking.
86. Disbursement of wages of a worker under the National Rural Employment Guarantee Act has to be made on:
Weekly or fortnightly basis.
87. The Wild Life Protection Act was enacted in the year:
1972.
88. The concept of basic structure was adopted from the constitution of :
Germany.
89. Two provisions in the Indian Constitution that are connected to the right to education are:
Art.21 and 51A.
90. Which of the following is not specifically mentioned as eligible for appointment as Judge of the Supreme Court under Article 124?
(A) Advocate of a High Court (B)Advocate of the Supreme Court.
(C) Judge of aHi9gh Court (D) Distinguished jurist.
Ans: (B)Advocate of the Supreme Court.
91. The most important event related to Malabar Rebellion is :
Wagon Tragedy.
92. The fourth all Kerala political conference held at Payyannur presided over by :
Jawaharlal Nehru.
93. Which among the following is “World Cancer Day”?
February 4.
94. “Vishakanyaka” is the work of :
S.K.Pottakkad.
95. The credit for taking the first tangible step towards the introduction and
diffusion of Western Education goes to :
Christian missionaries.
96. Sree Narayana Guru conducted an uncompromising crusade against:
Caste System.
97. Which among the following Gandhiji called “ a miracle of modern times”?
Temple entry proclamation.
98. The leader of “Narmada Bachao Andolan” agitation is :
Medha Padkar.
99. The head quarters of International Court of Justice is at:
Hague.
100. GSAT -14 successfully launched form Sriharikotta on :
5 January 2014.