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Accountant, Kerala Artisans Development Corporation Date of Test: 06-03-2017' Code A' Online Examination
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1. The constitutionoflndiaadopted the idea of l)irective Principles of State Policy from the constitution of (a) Canada (b) U.K (c) U.S.A (d) Ireland 2. Which is not among the Fundamental Rights? Right against Exploitation Right to property Right to constitutional remedies Right to equality 3. Who is the highest law officer of India? Attorney General Advocate General President of India Chief Justice 4. Expand KELSA Kerala Legal Service Authority Kerala State Legal Services Authority Kerala's Legal Service Association (41) Kerala Legal Studies Authority 5. First Digital State in India is Haryana Sikkim Kerala UtharPradesh 6. The International Day for the Elimination of violence against women is November10 November15 November20 November25 7. Litho printing in Kerala was introduced by the protestant missionary Johan Guttenberg kV.J.Ringletaube Father Mateer Herman Gundert 8. Name the Social Reformer who has founded Jathinashini Sabha through which he promoted inter-caste marriage in kerala Swami AnandaTheerthan K. Ayyappan Sree Narayana Guru Brahmananda Siva Yogi 9. The Temple Entry Proclamation was issued in the year 1931 1932 1936 1939 10. The Founder of Swadeshabhimani Newspaper was C. Krishnan Vakkom Ahdulkhadar Maulavi K. Ramakrishna Pillai C. Krishna Pillai 11. The novel written by C.\ Raman Pillai Marthandavarnia Bhutarayar Kerala Simham Vishakan,vaka 12. The woman, who is famous through the 'Rajadhani March' to Kaudiyar Palace Akkamma Cheriyan Anna Chandi Arya Pallam (d)A.V. KuttimaiuArnma 13. Who founded common wells called' Munthirikkinar' for people from all castes? SahodharanAyyappan S.N. Guru VaiktindaSwamikal KumaraGurudevan 14. Kallumala Agitation associated with
K.P. Karuppan &vyanka!i Lalitha Prabhu Parvathi Nenmenimangalam 15. Who is known as'Kerala Vyasa'? Kodungallur Kunhikkuttan Thampuran A.R. Raja RajaVarma Kerala Varma Valiya Koil Thampuran RamaVarmamampuran 16. 'Beti Bachao' 'Beti Padhao' scheme has been launched in Indiain April2015 March2015 January 2015 February2ol5 17. The master gland of human body is Adrenal gland Thyroid gland Thymus gland Pituitary gland 18. The European countryassociated with BREXIT Belgium Britain France Brazil 19. The Malayalam poet who bagged Asan SmarakaAward 2016 is Akkithani O.N.V. Kurup Kavalam Narayana Kurup Chemmanam Chacko 20. The 12th person among the Chief Ministers of Kerala is Sri Ummen Chandy V.S. Achuthanandan PinarayiVijayan AK. Antony 21. -are the cost of either a single process or a series of processes that simultaneously produce two or more products of significant relative sales value. Common costs Joint costs Product cost Period cost 22. costs are not traceable to any plant, department, and operation or to any individual final product. Common costs Indirect costs Both (1) and (2) None of these 23. - is the production that fails to meet quality or dimensional requirements and hence has to be disposed of without further processing. (a) Spoilage (b)Waste Scrap All are correct 24. If normal usage of raw material is 110 per day, minimum usage is 50 per day, maximum usage is 140 per day, and lead time is 25 to 35 days, the minimum stock level is (a).4200
(b) 1175 (c) 7950 (d) None of these 25. isaform of specific order costing which applies where work is undertaken to customer's special requirements and each order is of short term duration.
Batch costing Job costing
Both (1) and (2) None of the above 26. In contract costing retention money is the difference between work certified and Contract prices Cash received Work uncertified None of these 27. Process account is credited with the scrap value of Abnormal gain Abnormal loss Normal loss Normal gain 28. IJnder marginal costing, contribution is Sales-Variable cost Fixed cost + Profit Both (1) and (2)
None of these 29. Material usage variance is a combination of Mix variance and Yield variance Mix variance and Price variance Material cost variance and Yield variance None of these 30. isa method of budgeting where no reference is made to previous level of expenditure. PPBS Flexible Budget (c)ZBB (d) Fixed Budget is a subsidiary 31. objective of Auditing. Assess the system of internal control Detection and prevention of
prevails throughout the company. Statutory audit Performance audit Propriety audit Management audit 37. When the auditor is satisfied with the fairness of the balance sheet and profit and loss account, he willgivea report. Qualified report Unqualified report Adverse report None of these 38. On completion of Annual Audit the auditor's report is issued on 31st March 'Jlstl)ecember Any date later than the end of the period All of these correct is the owner of Working 39. Papers in a company audit. Company Board of Directors
Auditor None of these 40. auditsthebooksof accounts of government companies as per the Contpanies Act. (a)CAG Auditor appointed by the
Confirm existence of assets and liabilities Ascertain whether distinction has been made between capital and revenue items 32. Goods purchased for Rs. 10,000 is recorded in purchases day book as Rs. 1,000 is a type of error. Omission Commission Principle Compensating 33. Scheduling dates for interim and year end audit procedures is a goal of Audit Programme Audit Procedure Audit Planning All of these 34. Mistakes and Errors detected are
Chartered Accountant Government 41. The job of figuring out the ways and means of financing investdecision. ment projects is Capital Budgeting Capital Structure Working Capital Management
All of these 42. The proceat of
is used for calculating the Present Value of a cash flow. Compounding Annuity Reducing (41) Discounting
recorded in
-
Audit Note Book Audit Working Papers Audit evidence papers
None of these 35.
is an arrangement of duties allocated in such a way that the work of one person is automatically checked by another. Internal audit Internal control Internal check
Both ( 1) and (3) 36.
is an investigation of business from the highest level downward in order to ascertain whether sound management
43.
investors have a claim on residual cash flows of the firm.
Debt Equity
Preference (41) All of these leverage arises from the firm's fixed costs such as salaries, depreciation, insurance etc. Operating Financial (C) Both (1) and (2) (d) None of these 45. When inventories and receivables are supported by credit provided by suppliers and the customers pay in advance then afirm cash have a-- Working Capital. Zero Negative Positive Either (1) or (2) 46. is a non-discounting criteria to judge the worthwhilenessof investment projects. (a)IRR (b) NPV (c)ARR (d) None of these 47. When 'Profit alter tax' is divided by 'book value of assets', we get44.
(a)ARR
Pay back period None of these 48. A rights issue of capital to the existing shareholders through a Letter of Offer is made in the first instance to the existing sharebasis. holders on a Equal Allotment Pro rata (41) All of these 49. The reason for Equity Buy Back can be
To boost stock price To substitute for cash dividends To rationalize company's capital structure All of the above 50. Bonds that have a credit rating of BR or lower by Standard and Poor's and Ba or lower by Moody's are referred toss -
Bonds.
Inverse Junk Discount (d)Both (2)and (3) 51. As per Section 5, incidence of tax on a taxpayer depends on: His residential status. The place and time of accrual orre-
ceiptof income.
BOD
fraud
(b)IRR
Both land II Either I or II Onlyl (41) Only II 52. For anNRI, Foreign Income is 'I'axable in India Not taxable in India Partially taxable in India Taxable in India on stipulations 53. Loss under the head of 'Capital Gains' Can be set off against any other income Cannot be set off against any other income and shall be carried forward Cannot be set off against any other income and shall not be carried forward Either (I) or (2) 54. GST stands for General Sales Tax Goods and Services Tax Grouped Sales Tax None of these 55. The remuneration received by people like doctors, architects, lawyers etc. from their clients is treated under the head Salaries Income from business or profession Income from other sources An,v of the above 56. is any casual emolument fee or profit attached to an office or position in addition to salary or wages. Annuity Tax free benefits (c)Gift (41) Perquisites 57. If an asset transferred without consideration is again transferred by the transferee, the resultant gain or loss is clubbed with the income of Former transferee Later transferee
Former transferor Any of the above 58. Business losses cannot be set off against any income except Income from house property Capital gains Income from salary None of the above 59. Voluntary return is filled under
section 139(1) 142(l) 145(1) (41) None of these 60. Ex-parte assessment is also called Precautionary assessment Best Judgement assessment Income escaping assessment
None of these 61. The balance in the Shares Forfeited Account is transferred to Capital reserve (h) General reserve (c) Securities premium
(d) Free reserves 62. The Sinking Fund Account is finally closed by transferring the balance to Capital Reserve Debentures Sinking Fund InvestmentAccount General Reserve Account 63. Which of the following do not amount to appropriation of profit? Proposed l)ividend General Reserve Interim Dividend Provision for taxation 64. Any profit on realization of assets at the time of amalgamation is transferred to Transferee Company Creditors I)ebenture holders Equity shareholders 65. Depreciation account is given in (a)AS 10
AS 14 (c)AS6 (d)AS5 66. The amount set aside for unrealized profit on stock is called-. Stock Reserve General Reserve Capital Reserve (41) None of these 67. If the goods are invoiced at 25% on cost price, it means on sellingprice.
20% 25%
33 and 1/3% (41)50% 68. The creditorsturnover ratio isobtamed by dividing the Net Credit Annual Purchases by Average Trade Debtors Total Creditors Average Trade Creditors None of these 69. An increase in current liabilities the working capital. Decreases
Increases Equates None of these 70. The Accounting Standards Board (ASB) came to existence in the year
(a) 1967 (c)196l
(b) 1977 (d)1957
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go toda, (d) She asked him why lie did not go that day 38. The car was parked under the shade of the tree (Correct the sentence) The carwasparked below the shade of the tree The car was parked at i he shade of the tree The car was parked in ihe shade of the tree The car was parked to the shade of the tree 39. Person who is still learning iil who is without experience novice beginner fundamentalist (d)nude 40. Find out the compound word Didyou see the beautiful rainbowye-terday? (a) rainbow (b) yesterday (c) beautiful (d) see 41. My mother has been --------in bed all morning (a) lieing (b) laying (c) lying (d) Iyeing 42.Antonymoftheword 'clear' (a) vogue (b) vivid (c) obvious (d) vague 43. Obey your superiors, don' to....... read between the lines read at the lines read between lines read on the lines 44. Nocturnal means: usual nourishing active or functioning at night at marriage or wedding 45. He -----------his new coat and svent out for awalk (b) put out (a) put up (d) put on (c) put off
Accountant, Kerala Artisans Developnient Corporation 71. RTGS stands for— (a)RealTime Gross Serices (h) Rational Time Gross Settlement Real Time Group Settlement Real Time Gross Settlement 72. The right of the banker to retain all the properties of the debtor is called Particular Lien General Lien Gross Lien All of these 73. Which of the following is not aNationalised bank? (a) Bank ofBaroda Canara Bank Federal Bank (d) Syndicate Bank 74. CRRstandsfor (a) Credit Reserve Ratio (b) Cash Reserve Ratio (c) Credit Reversal Ratio (d) None of these 75. RB! Actcame into force in (a) 1930 (b) 1936 (c) 1934 (d) 1956 76. SPNS stands for (a) Systematic Payment Network System (b) Small Payment Network System (c) Shared Payment NetworkSystem
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(d) Secured Payment Network System 77. Which of the following is not a property insurance? Fire Insurance Aicultural tnsurance Health Insurance Livestock Insurance 78. Th e principle of Causa Proxima' in insurance business means (a) The nearest cause (h) The proximate cause (c) The immediate cause (d) All of these 79. The Life Insurance Corporation Act came into effect in the year (a) 1956 (h) 1972 (c) 1934 (d) 1961 80. Whichofthefollowingisnotafiindamental principle of insurance contract? Utmost good faith Insurable interest Indemnity Assignment 81. DDBstandsfor Debit Discount Bonds Deep Discount Bonds Derived Debt Bonds All of these 82. In the call money market, the period for which a loan is granted
shall not exceed (a) 7days (h) l5davs (c)30 days (d) 60 days 83. Which of the following is not a Money market instrument? Commercial Bills Treasut Bills Collateral loans Commercial Paper 84. Equity shares issued by a companyto itsemployeesordirectors, at a discount, for providing knowhow is called Right shares Bonus shares Preference shares Sweat equity shares 85. Security merchants dealing in shares and debentures as independent operators are called (a) Brokers (h) Jobbers (c) Sub-brokers (d) Consultants 86. Bombay Stock Exchange was established in the year (a) 1975 (6) t925 (d) 1875 (c) 1856 87. SEBI Act came into force in the year (a) 1991 (c) 1992
(b)2002 (d) 1947
88. The first stock exchange in India was setupin (a) Ahmadahad (h) Bombay (c) Calcutta (d) Delhi 89. Regulations governing Mutual Fundsarebeingissuedhv—. (a) SEBI (b) RBI (d) AMFI (c) CRISIL 90. Mutual funds attracting foreign sa\ings for investment in India is called (a) Foreign funds (b) Domestic funds (c) 0ff-shore funds (d) Fund of funds 91. TCPstandsfor (a) Transmission Control Protocol (b) Transaction Control Protocol (c) Trade Control Protocol (d)Allofthese 92. Which of the following is not an electronic fund transfer method? (h) ATMs (a) RTGS (c) NEFF (d) EVI'POS 93. Use of computers and communication technolo' for management of information is called (a)MIS (b) Office Automation (c) Office Management (d) All of these 94. Which of the following is not a
component of I)SS? Database Model base DSS software None of these 95. The technique of Group Decision Making in which there is no formal meeting of participants is called Brainstorming Nominal Group Technique l)elphi Method None of these 96. A group of cells in an Excel workbook is called (a) Range (b) Row (c) Column (d) None of these 97. Which of the following isa Database function in Excel? (a) SLN (b) DMAX (c) NP\' (d) PMT .98. DDLstandsfor (a) Data Definition Language (h) Data Decoding Language Data Describing Language All of these 99. Which of the following is not aData Mining technolo'? (a) Artificial Neural Networks (6) Decision Trees Genetic Algorithms None of these
1110. Which of the following is a tool used for arranging and storing information about data maintained in the database? 1)ataba.se files Data 1)ictionary Report Generator Interface System ANSWER KEY 1(d), 2(b), 3(a), 4(b), 5(c). 6(d). 7(d), 8.(a), .9(c), lt).(h), 11(a), 12(a), 13(c), 14(b), 15(a), 16(c), 17(d), 18(b), 19(d), 20(c), 21(b), 22(c), 23(a), 24(b), 25(b), 26(b), 27(c), 28(c), 29(a), 30(c), 31(h), 32(b), 33(c), 34(a), 35(c), 36(d), 37(b), 38(c), 39.(c), 40(a), 41(b), 42(d), 43(b), 44(a), 45(d), 46(c), 47(a), 48(c), 49(d), 50(b), 51(a), 52(b), 53(b), 54(6), 55(b), 56(d), 57(c), 58(c), 59(a), 60(b), 61(a), 62(d), 63.(d), 64(d), 65(c), 66(a), 67(a), 68.(c), 6.9(a), 70(b), 71(d), 72(b), 73(c), 74.(b), 75.(c), 76(c), 77(c), 78(d), 79(a), 80(d), 81(b), 82(a), 83(c), 84(d), 85(b), 86(d), 87(c), 88(b), 89(a), 90(c), 91(a), 92(b), 93(b), 94(d), 95(c), 96(a), 97(b), 98(a), 99(d), 100(h)
