LECTURE IN COMMERCE,TECHNICAL EDUCATION(POLYTECHNIC COLLEGES) SOLVED PAPER 2015

LECTURE IN COMMERCE,TECHNICAL EDUCATION(POLYTECHNIC COLLEGES)

EXAM DATE:18-12-2015
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1.These are the cost which will be incurred even if the plant is closed down temporarily due to raw material shortage,labour problem etc.Which one?

A.Step cost

B.Imputed cost

C.Out of pocket cost

D.Shut down cost*

Ans:D

2.Cost unit of Textiles Industry:

A.Per tone

B.Per set

C.Per meter*
D.Per Kg

Ans:C

3.Bad debts is an example of--------overheads.

A.Selling overhead*

B.Distribution overheads

C.Office overheads

D.Factory overheads

Ans:A

4.Which one of the following is the technique of selective inventory control?

A.FSN Analysis

B.ABC Analysis

C.HML Analysis

D.All of the above*

Ans:D

5.Calculate total earnings of a worker under Roman Plan.Hourly rate is Rs.2,Standard time 16 hours and time taken 12 hours.

A.28

B.30*

C.32

D.34

Ans:B

6.The process of apportionment of overheads of a cost centre to its cost unit is called:

A.Cost allocation

B.Cost appointment

C.Absorption of overhead*

D.Merging of overheads

Ans:C

7.The ideal operating ratio is:

A.75% to 85%*

B.25% to 50%

C.50% to 75%

D.55% to 75%

Ans:A

8.The contribution is equal to:

A.Sales minus fixed cost

B.Fixed cost plus variable cost

C.Fixed cost minus loss*

D.None of the above

Ans:C

9.Break even points Rs.30,000.Profit Rs.1,500 and fixed cost Rs.6,000.Find out variable cost.

A.20,000

B.35,000

C.40,000

D.None of the above*

Ans:D

10.Budget manual contains---------for the preparation of various budget.

A.Planning

B.Agenda

C.Strategies

D.Guidelines*

Ans:D

11.Dividend can be declared from:

A.Revenue profit*

B.Capital Profit

C.Secret Reserve

D.All of the above

Ans:A

12.Premium on redemption of preference shares are:

A.Capital profit

B.Capital loss*

C.Revenue profit

D.Revenue loss

Ans:B

13.Which of the following is Non-trading charges?

A.Preliminary expenses written off

B.Provision for taxation

C.Loss on sale of non-current asset

D.All of the above*

Ans:D

14.After the redemption of debentures,the balance of debenture sinking fund is transferred to:

A.Debenture account

B.Profit and loss etc

C.General reserve*

D.Capital reserve

Ans:C

15.Contingent liability is shown due to convention of:

A.Conservatism

B.Materiality

C.Full disclosure*

D.Matching Concept

Ans:C

16.X.Ltd goes into liquidation and a new company Z ltd.is formed to take over the business of ‘x’Ltd is a case of:

A.Absorption

B.External reconstruction*

C.Amalgamation

D.None of these

Ans:B

17.It is given that premiums,reinsurance premiums and commissions on reinsurance ceded amounted to Rs.10,00,000.Rs.50,000 and Rs.30,000 respectively.Hence premiums will be shown in the revenue account at:

A.Rs.10,00,000

B.Rs.9,20,000

C.Rs.10,30,000

D.None of the above*

Ans:D

18.A and B are partners sharing profit and losses in the ratio of 3:2.C is admitted into business for 1/8 share of profit and loss.Their sacrificing ratio is:

A.1:1

B.2:3

C.2:1

D.None of the above*

Ans:D

19.If the cost of goods sold Rs.2 lakh.the value of opening stock Rs.40,000 and closing stock Rs.60,000,the stock turnover ratio will be equal to:

A.5 times

B.4 times*

C.6 times

D.3 times

Ans:B

20.Preference share holders details of a liquidated company are given in:

A.List E

B.List D

C.List F*

D.List G

Ans:C

21.Sensitivity Training is a function of:

A.Planning

B.Directing

C.Leadership

D.Staffing*

Ans:D

22.Gang Plank mecin:

A.Name of a place

B.Bringing gap of Management Education

C.Permits horizontal communication*
D.Vertical Communication

Ans:C

23.Strategic point control implies:

A.Middle Management control

B.Focus attention only on factors critical in performance*

C.Point to point control

D.All of the above

Ans:B

24.Functional Foremanship was introduced by:

A.Henry Fayol

B.Elton mayo

C.Peter F.Drucker

D.F.W.Taylor*

Ans:D

25.Two factor theory of motivation was developed by:

A.MC Gregor

B.Max Webber

C.Herber Simon

D.None*

Ans:D

26.”The Attributes of Excellence”Approach was developed by

A.Koontz and O’Donnel

B.Peter and Waterman*

C.Newman and Summer

D.Likert and Benjamin

Ans:B

27.These are the general statement formulated by the organization to guide managers in decision making-which one?

A.Policies*

B.Programmes

C.Rule

D.Strategies

Ans:A

28.This principle states that a number of subordinates whose work can be managed efficiently by a manager at a time.Which principle?

A.Management by exception

B.MBO

C.Span of management*

D.Scalar chain

Ans:C

29.Which one of the following strategy helps to overcome resistance to change in an organization?

A.Participation and involvement

B.Facilitation and Support

C.Negotiation and Agreement

D.All of these*

Ans:D

30.Equity Theory of Motivation was developed by:

A.J.S.Adam*

B.Herbery

C.Claton Alderfer

D.Lather Gullick

Ans:A

31.The sampling technique in which a sample is obtained by drawing every’n’ the item from a list is known as -----------sampling.

A.Systematic*

B.Random sampling

C.Purposive

D.Quota

Ans:A

32.The best sampling technique to conduct a tribal survey is:

A.Muliphase sampling

B.Cluster sampling*

C.Muli stage sampling

D.Systematic

Ans:B

33.The difference between the approximated value and the true value is technically called:

A.Standard error

B.Sampling error

C.Statistical error*

D.Chi-square

Ans:C

34.-------------hypothesis is subject to modification as the investigation proceeds.

A.Casual

B.Working*

C.Null

D.Descriptive

Ans:B

35.Which fact is true about coefficient of correlation?

A.r<1

B.r=1

C.r>1

D.All of the above*

Ans:D

36.Which test is applied,when the sample is small and population standard deviation is not known?

A.Z test

B.T-test*

C.F-test

D.Chi-square test

Ans:B

37.Calculate the standard Error from the given data.The number of random sample is 100,and population standard deviation is 1350:

A.13.5

B.100

C.12.5

D.None of these*

Ans:D

38.Simplex method of L.P.P. was formulated by:

A.George-B Dantzig*

B.Alfred Marshall

C.Ramanuja Siddardh

D.Gilford D.Adams

Ans:A

39.Any activity which does not consume either any resource and time is known as:

A.Danger activity

B.Key activity

C.Critical activity

D.Dummy Activity*

Ans:D

40.The additional cost incurred for reducing total time period of project through crashing process is known as:

A.Increment cost

B.Extra cost

C.Cost-slope*

D.Crash cost

Ans:C

41.A form of system or a set of rules and methods ,allows for definition ,creation,updation,reading,maintenance and protection of data base is called:

A.Data control

B.Data blocked system

C.Data category

D.DBMS*

Ans:D

42.Which of the following subsystems of MIS assist managers in making unstructural decisions?

A.DSS*
B.IKS

C.TPS

D.OAS

Ans:A

43.Which of the following is not a function of MIS?

A.Data capturing

B.Storage of Information

C.Data analysis*

D.Data processing

Ans:C

44.The process of dividing or factoring a system into smaller systems and dividing in to sub-sub smaller systems is known as:

A.System structuring

B.System decomposition*

C.System interface

D.System diagnosis

Ans:B

45.The right to by an asset at a specified price on or before a specified expiration date is called:

A.Call option*

B.Put option

C.Grid option

D.Ask option

Ans:A

46.-------------stocks are those companies whose earning per share is growing faster than the economy  and at a rate higher than that of an average firm in the same industry.

A.Blue chips

B.Growth stocks*

C.Stalwars

D.None of these

Ans:B

47.------------approach support that dividend decisions are relevant and affect the value of a firm.

A.MM approach

B.Walter*

C.Residential approach

D.Johusons

Ans:B

48.--------refers to a situation where a firm is not in a position to invest in all profitable projects due to the constraints on availability of funds.

A.Capital budgeting

B.Capital storing

C.Capital modeling

D.Capital rationing*

Ans:D

49.----------means reducing the par value of shares by increasing the number of shares proportionately.

A.Stock reduction

B.Stock split*

C.Bonus issue

D.Stock griding

Ans:B

50.A company should follow the policy of ---------------during inflation or boon period.

A.High gear*

B.Low gear

C.Moderate gear

D.High and Low gear

Ans:A

51.Family pension received by family members of armed force personnel killed in an action is taxed under:

A.Salary

B.Other sources

C.Capital gain

D.Not taxable*

Ans:D

52.The device or process by which a person tries to reduce tax liability or incidence of tax through dishonest,falsehood and illegal ways/

A.Tax avoidance

B.Tax evasion*

C.Tax planning

D.Tax reduction

Ans:B

53.Sales tax is an example of:

A.Indirect tax*

B.Direct tax

C.A and B

D.Excepted from tax

Ans:A

54.Mr.Arjun running  a real estate business,during the course of business,he let out properties rented income from the properties is taxes under:

A.Salary

B.House properties

C.Others sources

D.Business gain*

Ans:D

55.Share of a partner in the profits of partnership is considered as:

A.Taxable income

B.Excepted income*

C.Partly taxable income

D.Genuine income

Ans:B

56.The present rate of Education cess.In the income tax liability if an assessee:

A.3%*

B.1%

C.2%

D.5%

Ans:A

57.Salary of MP or MLA is taxed under--------head.

A.Salary

B.Profession

C.Business

D.Other sources*

Ans:D

58.The period of 12 months commencing on 1^st day of April every year is known as:

A.Accounting year

B.Previous year

C.Assessment year*

D.Financial year

Ans:C

59.Short term capital loss can be set off against:

A.Long term capital gain

B.Short term capital gain

C.A or B*

D.None of the above

Ans:C

60.Section 60 to 65 of the income tax Act deal with:

A.Clubbing of income*

B.Aggregation of income

C.Both a and b

D.Neither a nor b

Ans:A

61.E-Commerce is not suitable for:

A.Sale/Purchase of Jewelleries

B.Sale/Purchase of mobile phones

C.Sale/Purchase of branded clothes

D.Online job searching*

Ans:D

62.Director Supervision over depositories and mutual fund is undertaken by:

A.SEBI*

B.RBI

C.NBFCs

D.All the above

Ans:A

63.Who is the chairman of 13^th Finance Commission?

A.Dr.C.Rangarajan

B.Mr.Vimal Jalan

C.Mr.Vijay C.Kelkar*

D.None of the above

Ans:C

64.Which of the following software is not used for data processing?

A.PASW

B.STAR*

C.ACCESS

D.EXCEL

Ans:B

65.”Crawling peg system”means:

A.Fixed exchange rate system

B.Floating exchange system

C.Hybrid of fixed and floating exchange system*

D.None

Ans:C

66.According to recent guidelines(2013)of RBI the private sector banks are required to have a minimum paid up equlty capital of:

A.Rs.300  crore

B.Rs.500 crore*

C.Rs.200 crore

D.Rs.400 crore

Ans:B

67.Kyoto protocol pertains to:

A.Capital formation

B.Globalisation

C.Environment protection*

D.Unemployment reduction

Ans:C

68.Competition Act passed in the ----------year

A.1998

B.2000

C.2002*

D.2008

Ans:C

69.Who propounded “Theory Z”?

A.William Ouchi*

B.Peter F.Dracker

C.Mc.Gregor

D.Herbert Simon

Ans:A

70.An MNC that maintains a balance between the home market and host market oriented policies is:

A.Ethonocentric

B.Polycentric

C.Geocentric*

D.None of the above

Ans:C

71.The Article which restricts the courts to inquire into proceedings of parliament:

A.A.121

B.A.122*

C.A.123

D.A.124

Ans:B

72.Article 370 of the constitution refers to:

A.Imposition of Presidents rule

B.Financial emergency

C.Jammu and Kashmir*

D.Amendment to the constitution

Ans:C

73.Which part of the constitution has been described as the soul of the constitution?

A.Preamble

B.Fundamental rights

C.Directive principles of state policy

D.Right to constitutional remedies*

Ans:D

74.The system of Judicial review is there:

A.Only in India

B.U.K  only

C.USA only

D.USA and India*

Ans:D

75.Which schedule contains the three lists that divides the powers between the state and the centre?

A.Seventh schedule*

B.Sixth schedule

C.Eighth schedule

D.Fifth schedule

Ans:A

76.The maximum period of maternity benefits is fixed for:

A.12 weeks*

B.9 weeks

C.6 weeks

D.8 weeks

Ans:A

77.The constitutional validity of Section 10 of payment of Bonus Act was challenged in:

A.ESI Corp.V Bata Shoe Co.Ltd

B.Jalan Trading Co V Mill Mazdoor Union*

C.Rajendra Deva V hari Fertilizers

D.Madura Coats Ltd V  Workmen

Ans:B

78.The right to form association or union is elevated as a fundamental right guaranteed under:

A.A:19(1)(a)

B.A:19(1)(b)

C.A:19(1)(c)*

D.A:19(1)(d)

Ans:C

79.The right to Information Act was passed in the year:

A.2005*

B.2008

C.2010

D.2012

Ans:A

80.The term “Wages”under the ESI Act includes:

A.All remuneration paid to an employee

B.Any payment in respect of authorized leave

C.Lay-off,lock out or strike which is not illegal

D.All the above*

Ans:D

81.’ElNino’Climaticphenomenon occurred in the ocean of:

A.Atlantic

B.Pacific*

C.Indian
D.Artic

Ans:B

82.The winner of Copa America football Cup of 2015?

A.Chile*

B.Paraguay

C.Brazil
D.Argentina

Ans:A

83.Samathwa Samajam’ was the Kerala’s first social organization founded by

A.Sree Narayana Guru

B.Sahodaran Ayyappan

C.Ayyan Kali

D.Vykunda Swamikal*

Ans:D

84.Part 1 of the Indian Constitutional begins with:

A.India shall be a union of states

B.Bharat shall be a union of states

C.India shall be a federation of states

D.India,that is Bharat shall be a union of states*

Ans:D

85.Under which article of Indian Constitution can the President of India be impeached?

A.Art .76

B.Art.75

C.Art.356

D.Art.61*

Ans:D

86.The number Parliament members representing the state of Nagaland:

A.2*

B.3

C.1

D.4

Ans:A

87.National Rural Employment Guarantee Act was passed in the year:

A.2004

B.2006

C.2008

D.2005*

Ans:D

88.Operation New Dawin’s is the beginning of stability in:

A.Afghanistan

B.Iran*

C.Iraq

D.Sudan

Ans:B

89.The bodo language is spoken in the state of:

A.Mizoram

B.Tripura

C.Arunachal Pradesh

D.Assam*

Ans:D

90.The type of Planning Project introduced by the Janatha Government is:

A.One year planning

B.Rolling plan*

C.Five year plan

D.Plan holiday

Ans:B

91.The ‘Savarna Jatha’to support the Vaikkom Satyagraha was organized by:

A.K.Kelappan

B.T.K.Madhavan

C.Mannathu Padmanabhan*

D.Dr.Palpu

Ans:C

92.Who was called as the “Lincoln of Kerala fro steering socio-economically and educationally backward communities to the forefront?

A.Pandit karuppan*

B.Ayya Vaikundar

C.E.V. Ramaswamy

D.Mannathu Padmanabhan

Ans:A

93.”Vayalavaram Veedu”is related to who among the following?

A.Cherusseri Namboodiri

B.Vallathol Narayana Menon

C.Narayana Guru*

D.Kumaranasan

Ans:C

94.Who  expounded the concept of “Ananthajathi”?

A.Chattambi Swamikal

B.Vagbhadananda

C.Brhmananda Sivayogi*

D.Sree Narayana Guru

Ans:C

95.In which district is the birth place of Vakkom Moulavi?

A.Thiruvanathapuram*

B.Kollam

C.Kottayam

D.Alappuzha

Ans:A

96.India’s first earth quake warning system successfully installed in:

A.Bihar

B.Utharakhand*

C.Himachal Pradesh

D.Jharkhand

Ans:B

97.Which of the following article is dealt with the constitution of the Parliament of India?

A.72

B.73

C.79*

D.78

Ans:C

98.The inclusion of the word “fraternity” in the preamble of the Indian constitution by:

A.Jawaharlal Nehru

B.B.R.Ambedkar*

C.Mukharjee

D.Krupalani

Ans:B

99.The Falmingo festival is celebrated in:

A.Andhra Pradesh*

B.Karnataka

C.Kerala

D.Jammu and Kashmir

Ans:A

100.Kerala Varma Pazhassi Raja was popularly known as:

A.Kerala Vyasan

B.Kerala Panini

C.Kerala Simham*

D.Kerala Gandhi

Ans:C