(M.Com.

-Honours)
1. Who suggested product, pricing, place, promotion all these in a company represents
“Market Mix”?
(A) Neil Borden (B) Neilsen (C) Philip Kotler (D) Stephen Morse

2. The goal of a pure market economy is to meet the desire of?

(A) Consumers (B) Companies (C) Workers (D) The government

3. What is the Gross National Product?

(A) The total value of Good and services manufactured in the country
(B) The total value of all the transactions in the country
(C) Reduction in the total value of goods and services produced in the country
(D) The total worth of goods and services generated in the country and net factor income
from abroad

4. Entered in the Purchases Journal are

(A) Discounts received (B) Purchases invoices
(C) Payments to suppliers (D)Trade discounts

5. X Ltd. has current ratio of 2– 1 and quick ratio of 1•5– 1. If its current liabilities are Rs.
80,000, then the value of stock would be _______.
(A) Rs. 1,60,000 (B) Rs. 1,20,000 (C) Rs. 40,000 (D) Rs. 80,000

6. Disinvestment Commission was set-up in _______.

(A) 1995 (B) 1996 (C) 1997 (D) 1998

7. Which one of the following reports deals with ‘Corporate governance’?

(A) Sabhanayagam Report (B) Kumaramangalam Birla Report
(C) Narasimhan Report (D) L.C. Gupta Report

8. Auction Rated Debentures (ARDs) are a hybrid of–

(A) Shares and Debentures
(B) Shares and Commercial Papers
(C) Commercial Papers and Debentures
(D) Zero Interest Bonds and Deep Discount Bonds

9. Which is the oldest form of organisation?

(A) Line (B) Line and staff (C) Functional (D) Matrix

10. Which is not a insurable risk?

(A) Accident Risk (B) Loss of Crops Risk
(C) The Risk of Trading in New Market (D) The Risk of Sinking of a Ship

11. The Life Insurance in India was nationalized in the year–

(A) 1870 (B) 1956 (C) 1960 (D) 1966

12. 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
13. The profit of a company (whose capital is divided into 25‚000 shares of Rs. 10 each)
for the last three years are: Rs. 50‚000; Rs. 60‚000 and Rs. 40‚000. The fair return on
investment is taken at 10% p.a. The value of company’s share will be _______.
(A) Rs. 10 (B) Rs. 20 (C) Rs. 30 (D) Rs. 40

14. Under which one of the following is the term ‘Dominant Undertaking’ defined ?
(A) MRTP Act (B) FEMA (C) Companies Act (D) SEBI

15. In ‘Direction’ who is given importance?

(A) To machines (B) To paper work (C) To man (D) To production

16. Financial year of a company shall not exceed–

(A) Calendar year
(B) 15 months
(C) 18 months with special permission of Registrar of companies
(D) 15 months with special permission of Registrar of Companies

17. An auditor is required to determine the ____ of his audit procedures according to the
requirements of Standards of Auditing.
(A) Conduct (B) Nature, timing and extent
(C) Limitation (D) Planning

18. In a contract costing most of the items of cost are _______.

(A) Indirect (B) Direct (C) Normal (D) Fixed

19. _______ is an important point to be determined in industries where batchcosting is

employed
(A) EBQ (B) EOQ (C) Re – order quantity (D) Batch

20. When the competition stage of a contract is less than ¼ , the totalexpenditure on the
contract is transferred to _______ account
(A) Work in progress (B) P/L a/c
(C) Estimated profit (D) Notional profit

21. Laspeyre's index = 110, Paasche's index = 108, then Fisher's Ideal index is equal to:
(A) 110 (B) 108 (C) 100 (D) 109

22. In the regression equation Y = 75.65 + 0.50X, the intercept is

(A) 75.65 (B) 0.5 (C) 1 (D) Intereminable

23. The coefficient of determination must be

(A) Between -1 and+1 (B) Between -1 and 0
(C) Between 0 and 1 (D) Equal to SSE/(n-2)
24. The only language which the computer understands is _______.
(A) Assembly Language (B) Binary Language
(C) BASIC (D) C Language

25. A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500.
He showed trade receivables on 31-3-2014 at Rs. 25,500. Which concept is followed
by him?
 (A) Going concern (B) Cost
(C) Accrual (D) Money measurement

26. A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after taking
into consideration the following items.(i) The cost of an asset Rs.23,000 has been taken
as an expense_new_line_(ii) The firm anticipated a profit of Rs.12,000 on the sale of
an old furniture_new_line_(iii) Salary of Rs.7,000 outstanding for the year has not been
taken into account._new_line_(iv) An asset of Rs.85,000 was purchased for Rs.75,000
and was recorded in the books at Rs.85,000._new_line_What is the correct amount of
profit to be reported in the books?
(A) Rs.1,47,000 (B) Rs. 1,51,000 (C) Rs.1,63,000 (D) Rs.1,41,000

27. Which of the following is wrong?

(A) All real and personal accounts are transferred to balance sheet
(B) Nominal accounts are transferred to P & L account
(C) Each account is opened separately in ledger
(D) Rent is a personal account, outstanding rent is nominal account

28. Which accounting concept specifies the practice of crediting closing stock to the trading
account?
(A) Cost (B) Realization (C) Going concern (D) Matching

29. If one of the cars purchased by a car dealer is used for business purpose, instead of
resale, then it should be recorded by _______.
(A) Dr Drawing A/c & Cr Purchases A/c
(B) Dr Office Expenses A/c & Cr Motor Car A/c
(C) Dr Motor Car A/c & Cr Purchases A/c
(D) Dr Motor Car & Cr Sales A/c

30. Where raw material is to pass certain stages before it is converted into finished goods,
the method of costing used is _______.
(A) Contract (B) Process (C) Unit (D) Batch

31. Cost of producing an additional unit of output is _______.

(A) Historical Cost (B) Marginal Cost (C) Fixed Cost (D) Total Cost

32. _______ has been compared to a “State within A State”

(A) State (B) Cooperation (C) Capitalism (D) Socialism

33. In _______ the state is supreme, while in _______ the individual freedom occupies the
front position
(A) Co-Operation, Capitalism (B) Capitalism, Co-Operation
(C) Socialism, Capitalism (D) Socialism, Co-Operation

34. _______ is the act of building budgets

(A) Budgeting (B) Estimating (C) Forecasting (D) ZBB

35. The job costing each job is a _______ to which all costs are assigned
(A) Profit unit (B) Cost unit (C) Expenses (D) Variable
36. What is the time limit for scrutiny assessment under section 143(3)?
(A) Within 21 months (B) Within 22 months
(C) Within 23 months (D) Within 24 months

37. As per IAS 1, Presentation of financial statement, ______ no of items would constitute
complete set of financial statements.
(A) Atleast 5 (B) Atleast 6 (C) 5 (D) 6

38. Whether financial reviews by management, environment reports and value added
financial statements are outside the scope of international financial reporting standards
(IFRSs)?
(A) Yes (B) No
(C) Not Mentioned In IFRSs (D) Still In Consideration

39. Which of the following is not a component of a Statement of Financial Position?

(A) Non-Current Assets (B) Retained Earnings
(C) Cost of Goods Sold (D) Deferred Tax

40. Under Ind AS 1 how often should financial statements be prepared?

(A) At Least Annually (B) No More Than Annually
(C) As Often As The Company Requires (D) Monthly

41. Management accounting can be viewed as __________.

(A) Marketing-oriented Accounting (B) Management-oriented Accounting
(C) Accounting-oriented Management (D) Manager-oriented Accounting

42. ________ is the language of Business which used to communicate financial

information.
(A) Accounting (B) Marketing (C) Profit (D) Pricing

43. The main objective of management accounting is _________

(A) To maintain the accounting records
(B) To know the amount due from customers and suppliers
(C) To ascertain analyse and interpret the results of business operations
(D) To record all the business transactions

44. The purpose of management accounting is to help ______ make decisions

(A) Managers (B) Investors (C) Marketers (D) Banks

45. Goodwill is one of the _______

(A) Current assets (B) Tangible assets
(C) Intangible assets (D) Liquid assets

46. Salary is one of the ________

(A) Direct expenses (B) Non-cash expenses
(C) Capital expenses (D) Revenue expenses
47. ______ mainly deals with the accounting & reporting of information to management
regarding the detail information.
(A) Cost accounting (B) Financial accounting
(C) Management accounting (D) Traditional accounting
48. ______ is responsible for financial operations of the organization.
(A) CEO (B) CMO (C) CFO (D) CA

49. _______ is the study of managerial aspects of financial accounting

(A) Cost accounting (B) Financial accounting
(C) Management accounting (D) Business accounting

50. Financial accountancy is governed by _______.

(A) Local standards only
(B) International standards
(C) Local as well as international accounting standards
(D) Company’s internal top management only

51. _________ are the basis of the business’s financial accounting.

(A) Accounting records (B) Bookkeeping
(C) Sales Volume (D) Both A & B

52. Financial accounting reports lay greater emphasis on the _______.

(A) Objectivity of data (B) Flexibility of data
(C) Relevancy of data (D) Subjectivity of data

53. The annual reports are to be prepared and published for circulation among the external
end users such as ______.
(A) Company, competitors, contributors and colleagues
(B) Customers, creators, collaborators and contractors
(C) Government, competitors, owners and top management
(D) Shareholders, investors, bankers, debenture holders and creditors

54. The term management accounting was first coined in

(A) 1950 (B) 1945 (C) 1955 (D) 1960
55. The concept of management accounting was coined by?
(A) R.N Anthony (B) J. Batty
(C) James H. Bliss (D) American Accounting Association
56. Decisions regarding usage of material, kind and changes in plant processing are a part
of
(A) Help management (B) Future management
(C) Cost management (D) Past management

57. GST is a consumption of goods and service tax based on.

(A) Development (B) Dividend (C) Duration (D) Destination

58. The market value of the shares is decided by

(A) The investment markets (B) The government
(C) Shareholders (D) The respective companies

59. CAPM stands for _________.

(A) Capital asset pricing model (B) Capital amount printing model
(C) Capital amount pricing model (D) Capital asset printing model
 60. From the below-mentioned items which are financial assets?
(A) Machines (B) Bonds
(C) Stocks (D) Both B & C

61. Contribution margin is also known as

(A) Gross profit (B) Net profit
(C) Earning before tax (D) Marginal income

62. Period cost means

(A) Variable cost (B) Fixed costs
(C) Prime cost (D) Factory cost

63. The term standard cost refers to the:

(A) Average unit cost of product produced in the previous period
(B) Budgeted unit cost of product produced in a particular period
(C) Average unit cost of product produced
(D) By other companies

64. A document that records the standard cost of a single unit of product is known as:
(A) Bill of materials (B) Bill of product
(C) Standard (D) Cost card

65. Which of the following statements regarding graphs of fixed and variable costs is true?
(A) Variable costs can be represented by a straight line where costs are the same for
each data point
(B) Fixed costs can be represented by a straight line starting at the origin and continuing
through each data point
(C) Fix
(D) Costs are zero when production is equal to zero
66. A 'direct' cost is a cost that is classified by:
(A) Behaviour (B) Traceability
(C) Controllability (D) Relevance

67. Bad debt amount should be credited to

(A) Debtors account (B) Bad debts account
(C) Sales account (D) Creditors account

68. Rent paid to landlord should be credited to

(A) Landlords account (B) Rent account
(C) Cash account (D) Expense account
69. Which of the following is NOT normally considered to be an asset?
(A) Retained earnings (B) Cash
(C) Buildings (D) Accounts receivable
70. A revenue that is collected before it has been earned is called
(A) Accrued revenue (B) Unrecorded revenue
(C) Deferred revenue (D) Unearned

71. Assets should be valued at the price paid to acquire them” is based on?
(A) Accrual concept (B) Cost concept
(C) Money measurement concept (D) Realization concept
72. A change in an individual’s behaviour prompted by information and experience refers
to which one of the following concepts?
(A) Learning (B) Role selection
(C) Perception (D) Motivation

73. MOST stands for ________.

(A) Machinery, Office, Staff, and Technology
(B) Mission, Objectives, Strategies, and Tactics
(C) Maximum Output Strategy Tools
(D) Manager, Operator, Seller, and Trader

74. Functional managers are responsible _______.

(A) For a single area of activity
(B) To the upper level of management and staff
(C) For complex organizational sub-units
(D) For obtaining copyrights and patents for newly developed processes and equipment

75. The problem-solving process begins with

(A) Clarification of the situation (B) Establishment of alternatives
(C) Identification of the difficulty (D) Isolation of the cause

76. The book “The Psychology of management” was published by

(A) William Gilbreth (B) Hendry Fayol
(C) F.W. Taylor (D) Robert Owen

77. Management satisfies ______ characteristics of a profession.

(A) Few (B) Many (C) All (D) Zero

78. Which is NOT an informational role of a manager?

(A) Monitor’s role (B) Disturbance’s role
(C) Disseminator’s role (D) Spokesman’s role

79. How are principles of management formed?

(A) By experiences of customers (B) By propagation of social scientists
(C) In a laboratory (D) By experiences of managers

80. Which of the following describes the principle of harmony, not discord?
(A) The management should properly investigate any task
(B) The management should engage in scientific enquiry
(C) The management should focus on observation and analysis
(D) The management should share the gains or profits of a company with their workers
81. The reciprocal nature of power was articulated by
(A) Barnard (B) Follett (C) Fayol (D) Taylor

82. TQM refers to

(A) Total quarterly management (B) Total qualifying management
(C) Total quality measurement (D) Total quality management
83. A study of the culture and practices in different societies is called
(A) Anthropology (B) Personality (C) Perception (D) Attitudes

84. If total number of elements with some specific characteristics is 18 from a population
of 40 and sample is drawn without replacement with size of 4 then mean of hyper
geometric probability distribution is
(A) 1.8 (B) 2.8 (C) 3.8 (D) 4.8

85. Teletypewriter terminal is an example of

(A) Input (B) Output (C) Input and Output (D) Storage

x-x-x