Post: Lecturer in Commercial Practice
Department: Kerala Technical Education (Polytechnics)
Category Code: 235/17
Qualification: Master's Degree in Commerce
Date of Test: 05-09-2018
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- "The proprietor of a business is treated as a creditor." Which accounting concept is based on this assumption?
- Cost concept
- Accounting period concept
- Business entity concept
- Going concern concept
- Among the following which one is not a fictitious asset?
- P and L account debit balance
- Patents
- Organization expenses
- Discount on issue of shares
- How do you treat the item of depreciation while preparing final accounts if it appears in Trial Balance?
- Debited to P and L account only
- Deducted from the asset concerned in the Balance Sheet
- Both "Debited to P and L account only" and "Deducted from the asset concerned in the Balance Sheet"
- None of these
- Heavy advertisement expenses incurred to launch a new product is treated as
- Capital expenditure
- Revenue expenditure
- Deferred revenue expenditure
- All of these
- Which of the following statements is a false one?
- Single entry method is an incomplete record of transactions
- A trial balance cannot be prepared under single entry system
- Books maintained under single entry are not reliable with that of double entry system
- All accounts are maintained under single entry system
- A B C share profits and losses in the ratio of 1/2 ,1/3 and 1/6 respectively. D, a new partner is admitted with 1/8 share. Then, what will be new profit sharing ratio?
- 7/16, 7/24, 7/48, 1/8
- 7/24, 7/48, 7/24, 1/8
- 2/8, 7/16, 7/24, 1/8
- 2/8, 7/48, 7/24, 1/8
- At the time of admission of a new partner, when goodwill is raised at full value in which ration the same is credited to capital accounts of partners?
- Sacrificing ratio
- Old profit sharing ratio
- New profit sharing ratio
- None of these
- When an existing company takes over the business of one or more existing companies, it is the case of
- Amalgamation
- Internal reconstruction
- External reconstruction
- Absorption
- A company may utilize the premium received on issue of shares/debentures for
- Payment of dividends
- Writing off discount on issue of debentures
- Writing off any capital loss
- Writing off any revenue loss
- The aggregate of the cost of indirect material, indirect labour and indirect expenses is called
- Overheads
- Cost
- Prime cost
- Works cost
- Among the following, which one is not an expense excluded from cost accounts?
- Capital losses
- Income tax
- Dividend
- Distribution expenses
- The time lag between indenting and receiving of materials is know as
- Re order level
- Danger level
- Lead time
- EOQ
- Re apportionment of service department costs to production department is called
- Secondary distribution
- Allotment
- Primary distribution
- Absorption
- Following are the information available in respect of A Ltd.
Fixed expenses Rs. 50,000
Sales (value) Rs. 2,00,000
Profits Rs. 50,000
Then, the P/V ratio will be- 30%
- 50%
- 40%
- None of these
- Which of the following is not a method of absorbing factory overheads?
- Machine hour rate
- Dual hour rate
- Direct labour hour rate
- Marginal cost rate
- Policy formulation and objective determination are the main focus of
- Management
- Administration
- Middle level management
- None of these
- Which one of the following roles does not constitute management roles as proposed by Henry Mintzberg?
- Training role
- Interpersonal role
- Decision role
- Informational role
- ___________ refers to those social interactions which do not have consciously coordinated joint purpose.
- Communication
- Supervision
- Informal communication
- Formal communication
- Which of the following is a quantitative technique of decision making in management?
- Consensus mapping
- Brainstorming
- Delphi technique
- Game theory
- The approach of Scientific Management was developed by
- Henry Fayol
- Elton Mayo
- F. W. Taylor
- George R. Terry
- Which of the following is not a source of short term finance for business?
- Commercial banks
- Retained earnings
- Public deposits
- Trade credits
- Which of the following statement is not applicable to financial planning?
- Determining the duties of finance manager
- Determining the amount of capital required
- Determination of capital structure
- Laying down of policies regarding cash control, borrowing and lending
- The type of layout suitable for mass production of products in continuous industries is
- Process layout
- Fixed position layout
- Product layout
- None of these
- The policy of the enterprise to fix a very high price for a new product at the very outset to recover the amount of capital invested quickly is called
- Penetration pricing
- Skimming pricing
- Bait pricing
- Full pricing
- 360 degree method in HRM is related to
- Employee motivation
- Employee morale
- Employee selection
- Employee performance appraisal
- The first stock exchange in India was set up in
- New Delhi
- Chennai
- Mumbai
- Kolkatha
- __________ is the regulatory authority in the field of capital market.
- Banking Regulation Act
- SEBI
- RBI
- None of these
- FDI stands for
- Foreign Derivatives Investment
- Foreign Disposable Investment
- Foreign Derived Investment
- Foreign Direct Investment
- Which one of the following is not a type of derivatives?
- Mutual funds
- Futures
- Options
- Forwards
- The market where securities that have already been issued are traded is called __________
- Primary market
- Secondary market
- Tertiary market
- All of these
- The branch of business dealing with production of goods is known as _________
- Commerce
- Trade
- Industry
- Marketing
- Which one of the following is not a form of business organization?
- Company
- Sole trader
- Partnership
- Government Department
- The minimum number of directors in the case of a Public Ltd. Company is
- 4
- 3
- 2
- 5
- Debentures Payable to a holder of certificate is called __________
- Bearer debentures
- Secured debentures
- Unregistered debentures
- Convertible debentures
- Rights issue refers to the shared issued to
- Existing directors
- Employees
- Public
- Existing shareholders
- Auditors of a company have to report to the
- Institutional investors
- Board of directors
- Shareholders at the annual general meeting
- Managing director
- EXIM Bank is a _________
- Non-banking non-financial company
- Non-banking financial company
- Scheduled bank
- Commercial bank
- In life insurance, the insured can recover the loss only if the loss is due to the nearest cause. This principle is called
- Subrogation
- Indemnity
- Insurable interest
- Causa proxima
- The method of transferring the rights of the insured in respect of life insurance policy to another party is known as
- Surrender
- Assignment
- Nomination
- None of these
- Which of the following is an essential component of intranet?
- PAD
- LAN with a minimum 5 PCs
- Computer with server software
- CRM
- Digital products are best suited for B2C e-commerce. Because __________
- They can be mass-customized and personalised
- They are commodity like products
- They can be delivered at the time of purchase
- All of these
- Which type of communication is based on social relationship among the members?
- Upward communication
- Downward communication
- Formal communication
- Informal communication
- Which one of the following documents attests the fact that goods of specified quantity, value and description are entering the boundary of the country?
- Documentary bill
- Bill of entry
- Bill of lading
- Consular invoice
- Under which principle, all the rights of an insured are transferred to insurance company after making payment of claim?
- Contribution
- Average clause
- Subrogation
- Indemnity
- Which of the following is an example of company incorporated by a Special Act of Parliament?
- Indian Oil Corporation Ltd.
- LIC of India
- State Trading Corporation of India
- Bharath Heavy Electricals Ltd.
- Which one of the following is not an instrument of credit control under banking system?
- Tax rates
- Cash reserve ratio
- Bank rate
- Moral suasion
- The Act which is applicable for the registration of NBFCs is
- SBI Act
- RBI Act
- Companies Act
- None of these
- _________ is known as "the soft loan window" of the World Bank.
- IFC
- IMF
- IBA
- IDA
- In India, the custodian of monetary reserves of the country is
- NABARD
- RBI
- SBI
- IDBI
- The "scheme of lead bank" was introduced in India in the year
- 1969
- 1971
- 1980
- 1991
- The system of Unit Banking is originated in
- U. K.
- HongKong
- USA
- India
- "No man must grow rich out of another person's loss". Which type of contract is based on this principle?
- Express contract
- Implied contract
- Executed contract
- Quasi contract
- A contract which is dependent on the happening or non-happening of some event is called _____________
- Absolute contract
- Contingent contract
- Wagering contract
- None of these
- In India, the Factories Act was passed in the year __________
- 1939
- 1947
- 1948
- 1951
- Which one of the following is not a negotiable instrument?
- Bill of exchange
- Promissory note
- Cheque
- Hundi
- Which one of the following is not a form of e-banking?
- Cheque book
- ATM
- Smart card
- Tele Banking
- RTGS stands for
- Rigid Time Gross Settlement
- Real Time Gross Settlement
- Real Tune Gross Settlement
- Reserve Time Gross Settlement
- The Act contains the provisions for health and safety measures of employees is
- Employee Compensation Act, 1923
- Industrial Dispute Act, 1947
- Trade Union Act, 1926
- None of these
- Which one of the following is not a right of an unpaid seller against the goods sold as per sale of Goods Act?
- Right for interest
- Right of lien
- Right of stopping the goods in transit
- Right of re sale
- Which of the following statement is incorrect?
- E-banking is virtual banking
- E-banking services include phone banking and home banking
- Debit-cards are known as check cards
- ATM is one of the major channels used for electronic banking
- Which of the following is related with the question "Do higher interest rates slow the economy and lower inflation?"
- Deductive Method
- Inductive Method
- Normative Economics
- Positive Economics
- How the demand curve for cigarettes changes when there is a positive impact of public service announcements and governments' mandatory health warnings on cigarette packages?
- There will be a movement along the demand curve
- No change in demand curve
- Shift the demand curve for cigarettes to the left
- Shift the demand curve for cigarettes to the right
- Which among the following is a factor affecting supply curve of a commodity?
- Internet shopping and auctions allow consumers to compare the prices of different dealers more easily and drives high cost sellers out of business
- Increase in tariff on imported automobiles increases total automobile supply
- If truck prices goes up, the supply of cars rises
- Computerised manufacturing lowers production costs and decreases supply
- Which of the following is the effect of imperfect competition?
- Too low price and too high output
- It leads to price that rise above cost and to consumer purchases that are reduced below efficient levels
- Increase in economic efficiency
- None of these
- When the oligopolists find it profitable to sell in each other's territory markets, then this act is known as
- Phantom freight
- Pittsburgh-plus pricing system
- Cross-hauling
- Both "Phantom freight" and "Pittsburgh-plus pricing system"
- Spending money in socially unproductive efforts to acquire, maintain or exercise monopoly is called
- Price regulation
- Rent seeking
- Deadweight loss
- Marginal expenditure
- Why economic profit is smaller than accounting profit?
- Economic profit is total revenue minus total cost including both explicit and implicit costs
- Accounting profit is the total revenue minus total explicit cost
- Economic cost include all opportunity cost when analysing a firm, whereas accounting cost measure only explicit cost
- All these
- Real GDP is calculated by using the formula
- Nominal GDP -: Real GDP
- Nominal GDP − Real GDP
- Nominal GDP -: GDP Deflator
- GDP Deflator ÷ GNP
- The price support policy in India aims at
- Maximum production of essential commodities
- Increasing the prices of rice, wheat, jute, cotton, sugarcane etc. so that producers' of those goods can receive higher incomes
- Market regulation
- None of these
- The statistical method which connects an old index number series with a revised series in order to make the series continuous is called
- Splicing
- Deflating
- Fixed base method
- Chain base method
- If the data set contains even number of items, then median is
- Average of two middle items
- Middle item of the array
- Most often repeated value in the data set
- Sum of values of all observations
- Which among the following is the property of regression coefficient?
- Arithmetic mean of regression coefficients is lower than the coefficients of correlation
- Correlation coefficient is the geometric mean of the two regression coefficients
- If one regression coefficient is greater than one, then other regression coefficient would also be greater than one
- All these
- Which among the following is a type of non-random sampling design?
- Shopping-Mall intercept sampling
- Snowball sampling
- Both "Shopping-Mall intercept sampling" and "Snowball sampling"
- Cluster sampling
- Which among the following is a feature of correlation coefficients?
- A high numerical value of 'r' that is value close to +1 or –1 represents a strong linear relation
- A value of 'r' close to zero means that the linear association is very weak
- The magnitude of 'r' indicates the strength of linear relation, whereas its sign indicates the direction
- All these
- If the Lorenz curve is nearer to the line of equal distribution, the dispersion is
- Zero
- Greater
- Smaller
- Equal to one
- Name the person associated with 'Kuttamkulam Struggle' in Thrissur as a protest against untouchability.
- P. K. Kumaran Master
- C. Kesavan
- K. Kelappan
- A. K. Gopalan
- Who organised Cheramar Mahajan Sabha in 1921?
- Ayyankali
- Dr. Ayyathan Gopalan
- Pampady John Joseph
- M. C. Joseph
- Who translated Rabindranath Tagor's Gitanjali into Malayalam?
- Kumaran Asan
- G. Sankara Kurup
- Ponkunnam Varky
- Kesava Dev
- The President of Vakkom Moulavi Foundation Trust (VMFT).
- Dr. N. A. Karim
- Vakkom Majeed
- A. Suhair
- Dr. Muhammad Iqbal
- The new Vice Chancellor of Malayalam University
- Dr. E. Radhakrishnan
- K. Jayakumar
- Dr. Anil Vallathol
- Gopinath Revindran
- In the Indian Constitution, the term 'Cabinet' appears only in
- Article 358
- Article 352
- Article 71
- Article 28
- Name the India-Nepal joint military exercise which was conducted recently
- Hand-in-Hand
- Lamitye
- Surya Kiran XI
- Al-Nagah
- The Social Justice Department was established in Kerala in
- September 1978
- October 1980
- October 1985
- September 1975
- The present Chairperson of Kerala State Women's Commission is
- K. C. Rosakutty
- M. C. Josephine
- Chinta Jerome
- M. Kamalam
- In which district of Kerala is The Indian Institute of Space Science and Technology located?
- Ernakulam
- Kozhikode
- Thiruvananthapuram
- Malappuram
- Nair Service Society (NSS) was formed in
- October 1924
- September 1916
- November 1927
- October 1914
- By which among the following Amendments of the Constitution of India was Delhi designated as the National capital territory?
- 69th Amendment Act
- 63rd Amendment Act
- 75th Amendment Act
- 16th Amendment Act
- Who among the following started Lokamanayan news paper?
- T. R. Krishnaswamy Iyer
- K. Kelappan
- Kurur Neelakandan Namboodiripad
- C. V. Kunjiraman
- The headquarters of Kerala Sangeetha Nataka Academy in
- Thiruvananthapuram
- Thrissur
- Malappuram
- Ernakulam
- Who wrote the book "Old History, New Geography, Bifurcating Andra Pradesh "?
- Jayaram Ramesh
- M. C. Joseph
- Subramanya Swami
- Manohar Parikkar
- The National Disaster Management Authority of India is chaired by
- The President of India
- Prime Minister of India
- Home Minister of India
- None of these
- Which one of the following was a re-curving cyclone that affected the Arabian sea coast of the Indian Peninsula in 2017?
- Phailin
- Mora
- Ockhi
- Irma
- Identify the wrong statement about ozone gas.
- The ozone layer of the atmosphere protects us from harmful UV radiation from the sun
- Release of Chloro Fluoro Carbons (CFCs) were responsible for the thinning and damage to ozone layer
- Inhalation of Ozone is harmful to human beings
- Ozone in the atmosphere is found at ground level only
- Minamata disease is associated with poisoning due to
- Bacteria
- Mercury
- Sulphur
- Argon
- The Monazite sands of Kerala are a potential reserve of
- Coal
- Plutonium
- Uranium
- Thorium
- "The amount of carbon dioxide released into the atmosphere as a result of the activities of a particular individual, organization or community" is called
- Carbon footprint
- Ecological footprint
- Per capita emission
- Carbon balance
- Oil spills in water bodies are a man-made hazard, Which of the following is a possible effect of an oil spill in a water body?
- Increase in dissolved oxygen levels
- Decrease in dissolved oxygen levels
- No effect on dissolved oxygen levels
- None of these
- Which is the only Genetically Modified (GM) crop that is being cultivated in India on a commercial scale?
- Bt Cotton
- Bt Brinjal
- GM Mustard
- GM Tomato
- In 2016, India's first Liquefied Natural Gas (LNG) powered bus was launched in
- Maharashtra
- New Delhi
- Gujarat
- Kerala
- The two primary scales used to measure intensity of earthquakes are
- Doppler and Richter
- Beaufort and Richter
- Richter and Mercalli
- Doppler and Mercalli
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