Commerce Accounts Questions

Commerce Accounts Questions

1. Henry Fayol is known for–
(A) Scientific Management (B) Rationalisation
(C) Industrial Psychology (D) Principles of Management
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2. Unity of command implies having not more than one–
(A) Subordinate (B) Friend
(C) Boss (D) Unit
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3. ‘x’ and ‘y’ theory of Motivation has been propounded by–
(A) McGregor (B) Maslow
(C) Ouchi (D) Herzberg
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4. Coordination has the following features–
(A) Continuous (B) Vertical organisation
(C) Horizontal relationship (D) All of the above
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5. Which one of the following is not a barrier in communication ?
(A) Noise (B) Affection
(C) Fear and distrust (D) Perception
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6. A Company can reissue its forfeited shares–
(A) At a premium (B) At a face value
(C) At a discount (D) All of the above
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7. Which of the following is an example of capital expenditure ?
(A) Insurance Premium (B) Taxes and Legal expenses
(C) Depreciation (D) Custom duty on import of machinery
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8. Given :
Average profit of a firm Rs. 21,000
Normal Profit Rs. 18,000
Value of goodwill on the basis of 3 years purchases of super profit shall be–
(A) Rs. 39,000 (B) Rs. 9,000
(C) Rs. 3,000 (D) Rs. 12,000
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9. A co-operative auditor starts his work of audit from–
(A) Account Books (B) Payment Books
(C) Cash Book (D) None of the above
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10. Accounting for research and development relates to–
(A) AS-7 (B) AS-8
(C) AS-9 (D) AS-10
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11. When does a body corporate become capable forthwith of exercising all the functions of a company ?
(A) On finalizing Memorandum of Association
(B) On obtaining certificate of commencement of business
(C) On obtaining certificate of incorporation
(D) On having convened its first Annual General Meeting
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12. Pohang Steel Company (POSCO) is a company originally based in–
(A) Vietnam (B) South Korea
(C) USA (D) Italy
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13. Which one of the following is not one of the elements of the 7S McKinsey Model for analyzing and improving organizational effectiveness ?
(A) Strategy (B) Structure
(C) Shared Values (D) Standard
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14. Consider the following statements–
1. Aggregate planning implies operational planning concerned with determining a firm's production requirements and manufacturing capacity.
2. Behaviour modification is a concept of motivation totally independent of rewards for the employees.
Which of the statements given above is/are correct ?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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15. What is the correct sequence of the following steps in a strategic planning process ?
1. Inputs 2. Evaluation of alternatives
3. Execution 4. SWOT analysis
Select the correct answer using the code given below–
(A) 1 - 4 - 2 – 3 (B) 4 - 1 - 2 - 3
(C) 1 - 2 - 3 – 4 (D) 4 - 1 - 3 - 2
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16. Which one among the following is not true for Special Economic Zones?
(A) No routine examination of cargo for export/import by customs authorities
(B) No licence is required for import
(C) Manufacturing and service activities are allowed
(D) No permission for subcontracting
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17. Which one among the following industries produces the most nonbiodegradable wastes?
(A) Thermal power plants (B) Paper mills
(C) Food processing units (D) Textile mills
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18. Brent index is associated with–
(A) shipping rate index (B) crude oil prices
(C) copper future prices (D) gold future prices
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19. Which one among the following is not true of the planning Commission?
(A) It indicates the factors which tend to retard economic development
(B) It is an advisory body and makes recommendations to the cabinet
(C) It is responsible for formulation of a plan for the most effective and balanced utilisation of the country's resources
(D) It is responsible for the execution of development programmes and plans
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20. Which one of the following statements about RBI is 'True'?
(A) RBI maintains the foreign exchange reserves of India
(B) RBI is the regulator of Banks and Securities market in India
(C) RBI started functioning from 1870
(D) None of these
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