NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 12 of 99)
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- Match List I with List II and select the correct answer:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 12 of 99) List-I List-II - Holding Company
- Government Company
- Public Company
- Private Company
- Maximum of 50 Members
- Minimum of 7 Members
- Partly Public
- Business Combination
- A
- B
- C
- D
- 2
- 1
- 4
- 3
- 4
- 1
- 2
- 3
- 2
- 3
- 4
- 1
- 4
- 3
- 2
- 1
- The Balance Sheet of M/s ABC as on 31 December is The liquidity Ratio is
- 2: 5
- 9: 20
- 1: 2
- 1: 1
- Four important acts performed by an Auditor in. Connection with an audit work are
- verification of assets and checking valuation of the same
- checking of Annual Accounts and Balance Sheet
- preparation of an audit programme
- test checking of financial, transactions
- The correct sequence in which these acts are performed by the Auditor is
- 2,1, 3,4
- 2,3, 4,1
- 3,1, 4,2
- 3,4, 1,2
- The type of control that provides a means for taking corrective action even after viability of the programme is known as
- pre-action control
- post-action control
- screening control
- steering control
- The Mechanistic Model of organizational design achieves high levels of production and efficiency because:
- of its de-emphasis of specialization and its emphasis on increasing job range
- it is highly decentralized and informal
- of both a and b above
- it is highly complex, centralized and formalized
- Match List I with List II and select the correct answer:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 12 of 99) List-I (Concepts of Accounting) List-II (Suitability of the Accounting Concepts) - Money measurement concept
- Business entity concept
- Cost concept
- Dual aspect concept
- Applicable to all forms of business organizations
- Basic accounting
- Original purchase price of assets
- Applicable to those trans actions/events which are of financial nature in accounting
- A
- B
- C
- D
- 4
- 2
- 3
- 1
- 3
- 1
- 4
- 2
- 4
- 1
- 3
- 2
- 3
- 2
- 4
- 1
- Which of the following may be included in Audit Working Papers?
- Audit notebook
- Audit programmes
- Schedules of sundry debtors and sundry creditors
- Audit manuals
- Select the correct answer using the codes given below:
- 1 and 4
- 1 and 2
- 2,3 and 4
- 1,2 and 3
- Consider the following statements: An ‘Internal Control System’ may include
- interim audit
- internal audit
- financial controls
- Which of these statements are correct?
- 1,2 and 3
- 1 and 2
- 2 and 3
- 1 and 3
- For a firm Opening Stock- ₹ 32,000 Closing Stock- ₹ 34,000 Sales- ₹ 4,40, 000 Gross Profit Ratio-25% on sales The stock turnover ratio of the firm is
- 8.0
- 8.5
- 9.0
- 10.0
- The traditional concept is that authority flows from top to bottom. But a new concept of authority has been developed. This is known as acceptance theory. Who is the exponent of this view?
- Herbert A Simon
- Douglas McGregor
- Chester Barnard
- Keith Davis
- The principle that a natural and unbroken series of event is responsible for a loss or damage, is known as
- principle of subrogation
- principle of mitigation of loss
- principle of contribution
- principle of causa proxima
- Match List I (Different Types of Shares/Events) with List II (Transaction by the Company) and select-the correct answer:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 12 of 99) List-I List-II - Sweat equity shares.
- Bonus shares
- Right shares
- Buy-back of shares
- A company gives its shares to the shareholders in the form of extra dividend
- Shares issued by the company at a discount
- A company provides an opportunity to the existing shareholders to purchase subsequent issue of shares on priority basis
- A company exercises its call option to buy shares from the shareholders
- A
- B
- C
- D
- 3
- 1
- 2
- 4
- 2
- 4
- 3
- 1
- 3
- 4
- 2
- 1
- 2
- 1
- 3
- 4
- If net profits are ₹ 30,000 and expenses not resulting in the application of fund are ₹ 10,000, then the funds from operation will be
- ₹ 30,000
- ₹ 40,000
- ₹ 10,000
- ₹ 20,000
- Premium Method is used for good will treatment in the case of
- retirement of partner
- admission of partner
- dissolution of partnership firm
- sale of partnership to a company
- Compatibility of technology refers to suitability of technology with respect to
- consumption pattern of consumers
- skills of available human resource
- development of product line of the company
- changing taste of consumers