05-09-2018 LECTURER IN COMMERCIAL PRACTICE

LECTURER IN COMMERCIAL PRACTICE

(NCA)POLYTECHNICS

EXAM DATE:05.09.2018

ONLINE EXAM PRACTICE NOW

1.Name the person associated with ‘Kuttamkulam Struggle’in Thrissur as a protest against untouchability.

A.P.K.Kumaran Master

B.C.Kesavan

C.K.Kelappan

D.A.K.Gopalan

Ans:A

2.Who organised Cheramar Mahajan Sabha in 1921?

A.Ayyankali

B.Dr.Ayyathan Gopalan

C.Pampady John Joseph

D.M.C.Joseph

Ans:C

3.Who translated Rabindranath Tagor’s Gitanjali into Malayalam?

A.Kumaran Asan

B.G.Sankara Kurup

C.Ponkunnam Varky

D.Kesava Dev

Ans:B

4.The President of Vakkom Moulavi Foundation Trust(VMFT).

A.Dr.N.A.Karim

B.Vakkom Majeed

C.A.Suhair

D.Dr.Muhammad Iqbal

Ans:A

5.The new Vice Chancellor of Malayalam University

A.Dr.E.Radhakrishnan

B.K.Jayakumar

C.Dr.Anil Vallathol

D.Gopinath Revindran

Ans:C

6.In the Indian Constitution,the term’Cabinet’appears only in

A.Article 358

B.Article 352

C.Article 71

D.Article 28

Ans:B

7.Name the India-Nepal joint military exercise which was conducted recently

A.Hand in-Hand

B.Lamitye

C.Surya Kiran XI

D.Al-Nagah

Ans:C

8.The Social Justice Department was established in Kerala in

A.September 1978

B.October 1980

C.October 1985

D.September 1975

Ans:D

9.The present Chairperson of Kerala State Women’s Commission is

A.K.C.Rosakutty

B.M.C.Josephine

C.Chinta Jerome

D.M.Kamalam

Ans:B

10.In which district of Kerala is The Indian Institute of Space Science and Technology located?

A.Ernakulam

B.Kozhikode

C.Thiruvanathapuram

D.Malappuram

Ans:C

11.Nair Service Society(NSS)was formed in

A.October 1924

B.September 1916

C.November 1927

D.October 1914

Ans:D

12.By which among the following Amendments of the Constitution of India was Delhi designated as the National capital territory?

A.69^th Amendment Act

B.63^rd Amendment Act

C.75^th Amendment Act

D.16^th Amendment Act

Ans:A

13.Who among the following started Lokamanayan news paper?

A.T.R.Krishnaswamy Iyer

B.K.Kelappan

C.Kurur Neelakandan Namboodiripad

D.C.V.Kunjiraman

Ans:C

14.The headquarters of Kerala Sangeetha Nataka Academy in

A.Thiruvanathapuram

B.Thrissur

C.Malappuram

D.Ernakulam

Ans:B

15.Who wrote the book “Old History,New Geography,Bifurcating Andra Pradesh”?

A.Jayaram Ramesh

B.M.C.Joseph

C.Subramanya Swami

D.Manohar Parikkar

Ans:A

16.The National Disaster Management Authority of India is chaired by

A.The President of India

B.Prime Minister of India

C.Home Minister of India

D.None of the above

Ans:B

17.Which one of the following was a re-curving cyclone that affected the Arabian sea coast of the Indian Peninsula in 2017?

A.Phailin

B.Mora

C.Ockhi

D.Irma

Ans:C

18.Identify the wrong statement about ozone gas

A.The ozone layer of the atmosphere protects us from harmful UV radiation from the sun

B.Release of Chloro Fluro Carbons(CFCs) were responsible for the thinning and damage to ozone layer

C.Inhalation of Ozone is harmful to human beings

D.Ozone in the atmosphere is found at ground level only

Ans:D

19.Minamata disease is associated with poisoning due to

A.Bacteria

B.Mercury

C.Sulphur

D.Argon

Ans:B

20.The Monazite sands of Kerala are a potential reserve of

A.Coal

B.Plutonium

C.Uranium

D.Thorium

Ans:D

21.”The amount of carbon dioxide released into the atmosphere as a result of the activities of a particular individual,organization or community”is called

A.Carbon footprint

B.Ecological footprint

C.Per capita emission

D.Carbon balance

Ans:A

22.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?

A.Increase in dissolved oxygen levels

B.Decrease in dissolved oxygen levels

C.No effect on dissolved oxygen levels

D.None of the above

Ans:B

23.Which is the only Genetically Modified(GM) crop that is being cultivated in India on a commercial scale?

A.Bt Cotton

B.Bt Brinjal

C.GM Mustard

D.GM Tomato

Ans:A

24.In 2016,India’s first Liquefied Natural Gas(LNG)powered bus was launched in

A.Maharashtra

B.New Delhi

C.Gujarat

D.Kerala

Ans:D

25.The two primary scales used to measure intensity of earthquakes are

A.Doppler and Richter

B.Beaufort and Richter

C.Richter and Mercalli

D.Doppler and Mercalli

Ans:C

26.”The proprietor of a business is treated as a creditor.”Which accounting concept is based on this assumption?

A.Cost concept

B.Accounting period concept

C.Business entity concept

D.Going concern concept

Ans:C

27.Among the following which one is not a fictitious asset?

A.P and L account debit balance

B.Patents

C.Organisation expenses

D.Discount on issue of shares

Ans:B

28.How do you treat the item of depreciation while preparing final accounts if it appears in Trial Balance?

A.Debited to P and L account only

B.Deducted from the asset concerned in the Balance Sheet

C.Both (A)and (B)

D.None of these

Ans:A

29.Heavy advertisement expenses incurred to launch a new product is treated as

A.Capital expenditure

B.Revenue expenditure

C.Deferred revenue expenditure

D.All of these

Ans:C

30.Which of the following statements is a false one?

A.Single entry method is an incomplete record  of transactions

B.A trial balance cannot be prepared under single entry system

C.Books maintained under single entry are not reliable with that of double entry system

D.All accounts are maintained under single entry system

Ans:D

31. 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 rati?

A.(7)/(16),(7)/(24),(7)/(48),(1)/(8)

B.(7)/(24),(7)/(48),(1)/(8)

C.(2)/(8),(7)/(16),(7)/(24),(1)/(8)

D.(2)/(8),(7)/(48),(7)/(24),(1)/(8)

Ans:A

32.At the time of admission of a new parner,when goodwill is raised at full value in which ration the same is credited to capital accounts of partners?

A.Sacrificing ratio

B.Old profit sharing ratio

C.New profit sharing ratio

D.None of these

Ans:B

33.When an existing company takes over the business of one or more existing companies,it is the case of

A.Amalgamation

B.Internal reconstruction

C.External reconstruction

D.Absorption

Ans:D

34.A company may utilise the premium received on issue of shares/debentures for

A.Payment of dividends

B.Writing off discount on issue of debentures

C.Writing off any capital loss

D.Writing off any revenue loss

Ans:B

35.The aggregate of the cost of indirect material,indirect labour and indirect expenses is called

A.Overheads

B.Cost

C.Prime cost

D.Works cost

Ans:A

36.Among the following,which one is not an expense excluded from cost accounts?

A.Capital losses

B.Income tax

C.Dividend

D.Distibution expenses

Ans:D

37.The time lag between indenting and receiving of materials is know as

A.Re order level

B.Danger level

C.Lead time

D.EQQ

Ans:C

38.Re apportionment of service department costs to production department is called

A.Secondary distribution

B.Allotment

C.Primary distribution

D.Absorption

Ans:A

39.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:

A.30%

B.50%

C.40%

D.None of these

Ans:B

40.Which of the following is not a method of absorbing factory overheads?

A.Machine hour rate

B.Dual hour rate

C.Direct labour hour rate

D.Marginal cost rate

Ans:D

41.Policy formulation and objective determination are the main focus of

A.Management

B.Administration

C.Middle level management

D.None of these

Ans:B

42.Which one of the following roles does not constitute management roles as proposed by Henry Minizberg?

A.Training role

B.Interpersonal role

C.Decision role

D.Informational role

Ans:A

43.------------refers to those social interactions which do not have consciously coordinated joint purpose

A.Communication

B.Supervision

C.Informal communication

D.Formal communication

Ans:C

44.Which of the following is a quantitative technique of decision making in management?

A.Consensus mapping

B.Brainstorming

C.Delphi technique

D.Game theory

Ans:D

45.The approach of Scientific Management was developed by:

A.Henry Fayol

B.Elton Mayo

C.F.W.Taylor

D.George R.Terry

Ans:C

46.Which of the following is not a source of short term finance for business?

A.Commercial banks

B.Retained earnings

C.Public deposits

D.Trade credits

Ans:B

47.Which of the following statement is not applicable to financial planning?

A.Determining the duties of finance manager

B.Determining the amount of capital required

C.Determination of capital structure

D.Laying down of policies regarding cash control,borrowing and lending

Ans:A

48.The type of layout suitable for mass production of products in continuous industries is

A.Process layout

B.Fixed position layout

C.Product layout

D.None of these

Ans:C

49.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

A.Penetration pricing

B.Skimming princing

C.Bait pricing

D.Full princing

Ans:B

50.360 degree method in HRM is related to:

A.Employee motivation

B.Employee morale

C.Employee selection

D.Employee performance appraisal

Ans:D

51.The first stock exchange in India was set up in:

A.New Delhi

B.Chennai

C.Mumbai

D.Kolkata

Ans:C

52.---------is the regulatory authority in the field of capital market.

A.Banking Regulation Act

B.SEBI

C.RBI

D.None of these

Ans:B

53.FDI stands for

A.Foreign Derivatives Investment

B.Foreign Disposable Investment

C.Foreign Derived Investment

D.Foreign Direct Investment

Ans:D

54.Which one of the following is not a type of derivatives?

A.Mutual funds

B.Futures

C.Options

D.Forwards

Ans:A

55.The market where securities that have already been issued are traded is called………….

A.Primary market

B.Secondary market

C.Tertiary market

D.All of these

Ans:B

56.The branch of business dealing with production of goods is known as-----

A.Commerce

B.Trade

C.Industry

D.Marketing

Ans:C

57.Which one of the following is not a form of business organisation?

A.Company

B.Sole trader

C.Partnership

D.Government Department

Ans:D

58.The minimum number of directors in the case of a Public Ltd.Company is:

A.4

B.3

C.2

D.5

Ans:B

59.Debentures Payable to a holder of certificate is called---------

A.Bearer debentures

B.Secured debentures

C.Unregistered debentures

D.Convertible debentures

Ans:A

60.Rights issue refers to the shared issued to:

A.Existing directors

B.Employees

C.Public

D.Existing shareholders

Ans:B

61.Auditors of a company have to report to the:

A.Institutional investors

B.Board of directors

C.Shareholders at the annual general meeting

D.Managing director

Ans:C

62.EXIM Bank is a-------

A.Non-banking non-financial company

B.Non-banking financial company

C.Scheduld bank

D.Commercial bank

Ans:B

63.In life insurance,the insured can recover the loss only if the loss is due to the nearest cause.This principle is called

A.Subrogation
B.Indemnity

C.Insurable interest

D.Causa proxima

Ans:D

64.The method of transferring the rights of the insured in respect of life insurance policy to another party is known as:

A.Surrender

B.Assignment

C.Nomination

D.None of these

Ans:B

65.Which of the following is an essential component of intranet?

A.PAD

B.LAN with a minimum 5 PCs

C.Computer with server software

D.CRM

Ans:C

66.Digital products are best suited for B-(2)C e-commerce.Because ------------

A.They can be mass-customized and personalised

B.They are commodity like products

C.They can be delivered at the time of purchase

D.All of the above

Ans:A

67.Which type of communication is based on social relationship among the members?

A.Upward communication

B.Downward communication

C.Formal communication
D.Informal communication
Ans:D

68.Which one of the following documents attests the fact that goods of specified quantity,value and desciption are entering the boundary of the country?

A.Documentary bill

B.Bill of entry

C.Bill of lading

D.Consular invoice

Ans:B

69.Under which principle,all the rights of an insured are transferred to insurance company after making payment of claim?

A.Contribution

B.Average clause

C.Subrogation

D.Indemnity

Ans:C

70.Which of the following is an example of company incorporated by a Special Act of Parliament?

A.Indian Oil Corporation Ltd.
B.LIC of India

C.State Trading Corporation of India

D.Bharath Heavy Electricals Ltd.

Ans:B

71.Which one of the following is not an instrument of credit control  under banking system?

A.Tax rates

B.Cash reserve ratio

C.Bank rate

D.Moral suasion

Ans:A

72.The Act which is applicable for the registration of NBFC is

A.SBI Act

B.RBI Act

C.Companies Act

D.None of these

Ans:C

73.---------is known as “the soft loan window”of the World Bank.

A.IFC

B.IMF

C.IBA

D.IDA

Ans:D

74.In India,the custodian of monetary reserves of the country is

A.NABARD

B.RBI

C.SBI

D.IDBI

Ans:B

75.The “scheme of lead bank”was introduced in India in the year

A.1969

B.1971

C.1980

D.1991

Ans:A

76.The system of Unit Banking is originated in

A.U.K

B.Hongkong

C.U.S.A

D.India

Ans:C

77.”No man must grow rich out of another person’s loss”.Which type of contract is based on this principle?

A.Express contract

B.Implied contract

C.Executed contract

D.Quasi contract

Ans:D

78.A contract which is dependent on the happening or non-happening of some event is called---------

A.Absolute contract

B.Contingent contract

C.Wagering contract

D.None of these

Ans:B

79.In India,the Factories Act was passed in the year---------

A.1939

B.1947

C.1948

D.1951

Ans:C

80.Which one of the following is not a negotiable instrument?

A.Bill of exchange

B.Promissory note

C.Cheque

D.Hundi

Ans:D

81.Which one of the following is not a form of e-banking?

A.Cheque book

B.ATM

C.Smart card

D.Tele Banking

Ans:A

82.RTGS stands for

A.Rigid Time Gross Settlement

B.Real Time Gross Settlement

C.Real Tune Gross Settlement

D.Reserve Time Gross Settlement

Ans:B

83.The Act contains the provisions for health and safety measures of employees is

A.Employee Compensation Act,1923

B.Industrial Dispute Act,1947

C.Trade Union Act,1926

D.None of these

Ans:D

84.Which one of the following is not a right of an unpaid seller against the goods sold as per sale of Goods Act?

A.Right for interest

B.Right of lien

C.Right of stopping the goods in transit

D.Right of re sale

Ans:A

85.Which of the following statement is incorrect?

A.E-banking is virtual banking

B.E-banking services include phone banking and home banking

C.Debit-cards are known as check cards

D.ATM is one of the major channels used for electronic banking

Ans:C

86.Which of the following is related with the question”Do higher interest rates slow the economy and lower inflation?”

A.Deductive Method

B.Inductive Method

C.Normative Economics

D.Positive Economics

Ans:D

87.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?

A.There will be a movement along the demand curve

B.No change in demand curve

C.Shift the demand curve for cigarettes to the left

D.Shift the demand curve for cigarettes to the right

Ans:C

88.Which among the following is a factor affecting supply curve of a commodity?

A.Internet shopping and auctions allow consumers to compare the prices of different dealers more easily and driveshigh cost sellers out of business

B.Increase in tariff on imported automobiles increases total automobile supply

C.If truck prices goes up,the supply of cars rises

D.Computerised manufacturing lowers production costs and decreases supply

Ans:A

89.Which of the following is the effect of imperfect competition?

A.The low price and too high output

B.It leads to price that rise above cost and to consumer purchases that are reduced below efficient levels

C.Increase in economic efficiency

D.None of the above

Ans:B

90.When the oligopolists find it profitable to sell in each other’s territory markets,then this act is known as

A.Phantom freight

B.Pittsburgh-plus princing system

C.Cross-hauling

D.Both(A)and (B)

Ans:C

91.Spending money in socially unproductive efforts to acquire,maintain or exercise monopoly is called

A.Price regulation

B.Rent seeking

C.Deadweight loss

D.Marginal expenditure

Ans:B

92.Why economic profit is smaller than accounting profit?
A.Economic profit is total revenue minus total cost including both explicit and implicit costs

B.Accounting profit is the total revenue minus total explicit cost

C.Economic cost include all opportunity cost when analysing a firm,whereas accounting cost measure only explicit cost

D.All the above

Ans:D

93.Real GDP is calculated by using the formula

A.Nominal GDP-:Real GDP

B.Nominal GDP-Real GDP

C.Nominal GDP-:GDP Deflator

D.GDP Deflator/GNP

Ans:C

94.The price support policy in India aims at:

A.Maximum production of essential commodities

B.Increasing the prices of rice,wheat,jute,cotton,sugarcane etc.so that producer’s of those goods can receive higher incomes

C.Market regulation

D.None of the above

Ans:B

95.The statistical method which connects an old index number series with a revised series in order to make the series continuous is called

A.Splicing

B.Deflating

C.Fixed base method

D.Chain base method

Ans:A

96.If the data set contains even number of items,then median is:

A.Average of two middle items

B.Middle item of the array

C.Most often repeated value in the data set

D.Sum of values of all observations

Ans:A

97.Which among the following is the property of regression coefficient?

A.Arithmetic mean of regression coefficients is lower than the coefficients of correlation

B.Correlation coefficient is the geometric mean of the two regression coefficients

C.If one regression coefficient is greater than one,then other regression coefficient would also be greater than one

D.All the above

Ans:B

98.Which among the following is a type of non-random sampling design?

A.Shopping-Mall intercept sampling

B.Snowball sampling

C.Both(A) and (B)

D.Cluster sampling

Ans:C

99.Which among the following is a feature of correlation coefficients?
A.A high numerical value of ‘r’that is value close  to +1 or 1 represents a strong linear relation

B.A value of ‘r’ close to zero means that the linear association is very weak

C.The magnitude of ‘r’ indicates the strength of linear relation,whereas its sign indicates the direction

D.All the above

Ans:D

100.If the Lorenz curve is nearer to the line of equal distribution,the dispersion is

A.Zero

B.Greater

C.Smaller

D.Equal to one

Ans:C

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