NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 90 of 99)
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- An arrangement in which the accounting work of each individual is checked by other members is known as
- Internal audit
- external audit
- internal check
- test checking
- The most important objective of internal audit is
- early detection of errors and frauds
- facilitating final audit
- Early finalization of annual accounts
- ensuring systematic accounting
- Consider the following documents:
- Audit Notebook
- Audit Program
- Audit Report
- Audit Files
- The correct sequence. In which an auditor prepares these documents is
- 2,1, 4,3
- 1,2, 3,4
- 2,1, 3,4
- 1,2, 4,3
- Test checking reduces the
- Powers of an auditor
- expenses of audit
- Work of an auditor
- liability of an auditor
- Which one of the following clearly defines ‘organization’ as a function?
- Management of business
- Accomplishment of goals through means
- Centralized authority in the funds of an individual to achieve business goals
- Process of assigning duties to individuals to achieve specific ends effectively
- Which one of the following is NOT applicable to a Co-operative form of business organization?
- Major portion of profit is distributed to members by way dividend
- Policy decisions are taken by the members in a General Meeting
- Membership is open to all having a common interest
- It is formed generally by the artisans and consumers of Limited means
- Match List I (Forms of business organization) with List II (Distinctive characteristics) and select the correct answer:
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 90 of 99) List-I List-II - Joint Hindu Family Firm
- Public Enterprise
- Section 25 of Company
- Co-operative organization
- Association of persons for their common interests
- Ownership and control by Government
- Ownership by copartners
- Limited company formed for promoting commerce, art, science etc.
- A
- B
- C
- D
- 3
- 2
- 1
- 4
- 1
- 3
- 2
- 4
- 3
- 2
- 4
- 1
- 1
- 3
- 4
- 2
- Consider the following statements: A mutual fund helps the investor in securing
- Professional management
- Diversification of risk
- Steady appreciation
- Lower cost of operation
- Of these statements which are correct?
- 1,2, 3 and 4 are correct
- 1,2 and 4 are correct
- 2 and 3 are correct
- 3 and 4 are correct.
- Which of the following are the means of marketing new issues of securities?
- By listing of securities
- Through jobbers and brokers.
- By private placing of securities
- Through privileged subscriptions
- Of these statements which are correct?
- 1 and 2
- 1,2 and 3
- 3 and 4
- 1,2, 3 and 4
- Dow and Jones, now popularly known as ‘Dow-Jones’ in the stock market parlance were the
- first financial journalists
- First bull operators in the New York stock exchange
- first to predict the Great Depression
- Architects of shop-floor trading
- “Arbitrage” means.
- A business arrangement by which a share broker tries to take advantage of difference in ‘Spot’ and ‘Futures’ prices of a share
- a business arrangement in which a share broker tries to take advantage of difference in prices between two Stock Exchange centers on a particular share
- an arbitration proceedings that is invoked by either the buyer or the seller when the other party is unable to meet its commitment
- A compromise arrangement by which the transaction is postponed to the next settlement date
- The primary function of Stock Exchange is to
- mobilize savings from the public for long-term investment
- offer a secondary market for shares and other securities
- facilitate barter deals between buyer and seller holding different securities
- Enable Reserve Bank of India to trade in Government securities in their efforts to control money supply in the economy
- Consider the following statements:
- Foreign institutional investors have been allowed to in-vest in Mutual Funds.
- The main objective of SEBI is to protect the investors.
- Private placement is the route through which Promoters contribution is mobilized by a public company.
- RBI lays down the guidelines governing the capital market operation.
- Of these statements:
- 1 and 2 are correct
- 2,3 and 4 are correct
- 1,2 and 3 are correct
- 1,3 and 4 are correct
- Narasimha Committee has apart from other things, recommended
- expanding priority sector financing
- restricting priority sector financing
- asking new foreign and private sector banks to follow the existing norms for priority sector financing
- Total elimination of priority sector financing
- Which one of the following sets is correct with regard to liberalization in financial sector?
- Globalization, devaluation and privatization
- Deregulation, moral suasion and branch expansion
- Privatization, computerization and standardization
- Globalization, deregulation and privatization