Description : What is C.I.F. (Cost Insurance Freight)?
Last Answer : This includes the cost of goods, insurance, freight and all charges upto to the port of import.
Description : Contents of Marine Insurance include– (A) Insurance of Cargo only (B) Insurance of Freight only (C) Insurance of Hull only (D) Insurance of Cargo, Freight & Hull
Last Answer : Answer: Insurance of Cargo, Freight Hull
Description : What is Freight?
Last Answer : The money paid to a ship owner for carrying goods by an exporter
Description : Who is Father of Scientific Management ? (A) Henry Fayol (B) Elton Mayo (C) Chester Bernard (D) F. W. Taylor
Last Answer : Answer: F. W. Taylor
Description : Who is called ‘The Father of Scientific Management’ ? (A) Elton Mayo (B) Henry Fayol (C) E. F. L. Breach (D) F. W. Taylor
Description : Hawthorne Experiments were conducted by– (A) Elton Mayo (B) Henry Fayol (C) F. W. Taylor (D) Peter F. Drucker
Last Answer : Answer: Elton Mayo
Description : Motivation - Hygiene Theory was propounded by– (A) Abraham H. Maslow (B) Fredrick Herzberg (C) Peter F. Druker (D) Argyris Chris
Last Answer : Answer: Fredrick Herzberg
Description : The principle of ‘Unity of Command’ was introduced by– (A) Elton Mayo (B) Henry Fayol (C) F. W. Taylor (D) Urwick
Last Answer : Answer: Henry Fayol
Description : Which, institution is known as the ‘Soft Loan Window’ of World Bank ? (A) I.F.C. (International Financial Corporation) (B) I.D.A. (International Development Association) (C) I.M.F. (International Monetary Fund) (D) Indian Development Forum
Last Answer : Answer: I.D.A. (International Development Association)
Description : In which State the Mitakshara form of H.U.F. business does not apply ? (A) Rajasthan (B) Gujarat (C) West Bengal (D) Kerala
Last Answer : Answer: West Bengal
Description : What is F.A.S.(Free Along Side)?
Last Answer : This includes all expenses like packing charges, delivery of goods to the side of the ship etc. But it doesn’t include charges for putting them on board.
Description : What is F.O.B (Free On Board)?
Last Answer : This includes cost of the goods and all other expenses to be incurred in placing the goods on board the ship.
Description : What is F.O.R. (Free On Rail)?
Last Answer : This indicates that the price covers the cost of goods and all other expenses till the goods are put into the railway wagon.
Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account
Last Answer : Answer: profit & loss account
Description : The capital issues of public limited companies are subject to guidelines issued by– (A) Reserve Bank of India (B) Central Government (C) Central Bank of India (D) Securities & Exchange Board of India (SEBI)
Last Answer : Answer: Securities amp; Exchange Board of India (SEBI)
Description : The following data, relates to manufacturing company for the year 2006-07- Net Profit as per P & L A/c-Rs. 2,40,000; Depreciation-Rs. 80,000; Goodwill written-off- Rs. 40,000, Profit on Sale of Fixed Assets-Rs. 16,000, ... ) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above
Last Answer : Answer: None of the above
Description : On 1st April, 2013, Y Ltd. Issued 1000, 12% debentures of Rs. 100 each at a discount of 6%. These debentures are redeemable in five equal annual instalments at the end of each year. What is the amount of discount to be written off ... & L A/c ? (A) Rs. 2000 (B) Rs. 1800 (C) Rs. 1200 (D) Rs. 600
Last Answer : Answer: Rs. 1200
Description : The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of ... will be- (A) Rs. 50,000 (B) Rs. 55,000 (C) Rs. 45,000 (D) Rs. 57,000
Last Answer : Answer: Rs. 55,000
Description : Sometimes an auditor is called upon to review the operations of an enterprise for evaluating their cost-effectiveness. What is this kind of audit generally known as ? (A) Cost Audit (B) Operations Audit (C) Tax Audit (D) Independent Financial Audit
Last Answer : Answer: Cost Audit
Description : When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000
Last Answer : Answer: Rs. 3,50,000
Description : According to the Accounting Standard (AS)-2, the inventory is to be valued at which one of the following ? (A) Actual cost or sales value, whichever is lower (B) Historical cost (C) Net realizable value (D) Historical cost or net realizable value, whichever is lower
Last Answer : Answer: Historical cost or net realizable value, whichever is lower
Description : The rate of gross profit is 20% on sales and the cost of goods sold is Rs. 1‚00‚000, the amount of gross profit will be– (A) Rs. 30‚000 (B) Rs. 25‚000 (C) Rs. 20‚000 (D) Rs. 16‚667
Last Answer : Answer: Rs. 25‚000
Description : Expenses need to be recorded in the period in which the associated revenues are recognised. This is to be ensured as per which one of the following accounting principles ? (A) Revenue recognition (B) Cost benefit (C) Matching (D) Periodicity
Last Answer : Answer: Revenue recognition
Description : At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher
Last Answer : Answer: At cost price or market price whichever is lower
Description : The Branch of Accounting which is concerned with the processing and presenting data for decision making is known as– (A) Common Dollar Accounting (B) Social Accounting (C) Cost Accounting (D) Management Accounting
Last Answer : Answer: Management Accounting
Description : Rate of Gross Profit on cost is 25%. Total sales is Rs. 1,00,000 and Average Stock is Rs. 1,60,000. Stock Turnover Ratio will be– (A) 0•5 times (B) 0•8 times (C) 0•10 times (D) 0•4 times
Last Answer : Answer: 0•5 times
Description : Share premium account can be used for– (A) Paying tax liability (B) Meeting the cost of issue of shares or debentures (C) Paying Dividend on shares (D) Meeting the loss on sale of old asset
Last Answer : Answer: Meeting the cost of issue of shares or debentures
Description : The fixed cost of producing a quantity of a good divided by the quantity produced is :
Last Answer : Average fixed cost
Description : If a retailer orders a quantity of merchandise to be delivered to his store in Dublin and is quoted a price that does not include transport costs, the retailer is paying a price called: A)F.O.B. destination. B)F.O.B. factory. C)geographic price. D)freight absorption price. E)base -point price.
Last Answer : B)F.O.B. factory.
Description : Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?
Last Answer : I worked in a grocery store that was a Franchise and that company charges a fee to have the ideal placement on the shelves, or near the cash register , knowing that some people (or most) buy on impulse. That is why adverting of a product with colorful and eye catching themes becomes very important .
Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250
Last Answer : Answer: Rs. 12,500
Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility
Last Answer : Answer: authority level principle
Description : Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian
Last Answer : Answer: thorough subordinate training scheme exists
Description : One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members
Last Answer : Answer: there is possibility of disunity of command
Description : Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange
Last Answer : Answer: National Stock Exchange
Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks
Last Answer : Answer: The RBI manages longterm liquidity through rapos
Description : The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management
Last Answer : Answer: Liquidity management
Description : Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To ... (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure
Last Answer : Answer: To strengthen the private equity infrastructure
Description : The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.
Last Answer : Answer: Audit programme
Description : Which one of the following securities cannot be issued by a Public Limited Company in India ? (A) Participating preference shares (B) Redeemable preference shares (C) Deferred shares (D) Debentures.
Last Answer : Answer: Deferred shares
Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio
Last Answer : Answer: Old profit sharing ratio
Description : When an incoming partner purchases his share from any one of the existing partners, then- (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent ... ) change in total assets of the firm will depend upon the new profit sharing ratio of the partners
Last Answer : Answer: total assets of the firm do not change
Description : Any person aggrieved by any decision or order of the National Company Law Appellate Tribunal can appeal to which one of the following and within how much period ? (A) High Court, within 30 days (B) ... Court within 60 days (C) SEBI within 90 days (D) Department of Companies Affairs within 60 days
Last Answer : Answer: Supreme Court within 60 days
Description : Which one of the following ratios is likely to be affected the most on account of price level changes ? (A) Current Ratio (B) Inventory Turnover Ratio (C) Debtors’ Turnover Ratio (D) Fixed Assets Turnover Ratio
Last Answer : Answer: Debtors’ Turnover Ratio
Description : The current ratio is 3 : 2 and the amount of current liabilities is Rs. 40,000. What is the amount of current assets ? (A) Rs. 60,000 (B) Rs. 70,000 (C) Rs. 80,000 (D) Rs. 1,00,000
Last Answer : Answer: Rs. 60,000
Description : A company forfeited 30 equity shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 and call-money of Rs. 4 per share. If these shares are reissued at Rs. 8 per share fully paid, the amount ... to capital reserve will be- (A) Rs. 300 (B) Rs. 60 (C) Rs. 90 (D) Rs. 30
Last Answer : Answer: Rs. 30
Description : A company can forfeit shares if the– (A) shareholder fails to pay the amount of the call during the stipulated time (B) shareholder pays calls in advance (C) shareholder does not pay the application money (D) shares have been issued at par
Last Answer : Answer: shareholder fails to pay the amount of the call during the stipulated time
Description : Dividend can be paid generally out of– (A) share premium account (B) capital redemption reserve account (C) current year’s profits (D) All of these
Last Answer : Answer: current year’s profits
Description : Which one of the following functions is served most by information technology ? (A) Replacement of human labour (B) Provision for a handle to the management to improve industrial relations (C) Substitution of human information processing (D) Rationalisation of office work
Last Answer : Answer: Rationalisation of office work
Description : Which one of the following is the most appropriate task of office management ? (A) Creation of profit centre (B) Creation of control centre (C) Making office supplies available (D) Supervision of production Quality Control
Last Answer : Answer: Creation of control centre