ACCOUNTANT JUNIOR ACCOUNTANT ACCOUNTS ASSISTANT - KERALA PSC PREVIOUS QUESTION PAPER
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.docx   ACCOUNTANT JUNIOR ACCOUNTANT ACCOUNTS ASSISTANT - VARIOUS COMPANIESCORPNSBOARDSSOCIETIES.docx (Size: 24.03 KB / Downloads: 1)
082/2016
Maximum : 100 marks
Time : 1 hour and 15 minutes



1.Which one of the following is true with regards to cash discount?
(A)It is discount on prompt payment (B) It is discount on price at sales
(C )It is a discount given in cash (D) It is a reduction in face value

2.Who, among the following, is associated with the term ‘Marketing Myopia’?
(A)Taylor (B)Philip Kotler
(C )Henry Ford (D)Theodore Levitt

3.In which of the following pricing strategy, the marketer charge maximum price on introducing a new product?
(A)Penetration Pricing (B)Going Rate Pricing
(C )Skimmed Pricing (D)Full Cost Pricing

4...... is the set of all products and items that a seller offers to sell.
(A)Product Line (B)Product Mix
(C )Product width (D)Product Length

5.Which of the following do not fall under ‘4Ps’ suggested by McCarthy?
(A)Promotion (B)Product
(C )Place (D)Perfection

6.Which of the following concept says that the consumers will favour those products that are available widely at low cost?
(A)Production Concept (B)Selling Concept
(C )Product Concept (D)Marketing Concept

.7. In ‘ABC analysis of stock control, which of the following is true with regards to ‘C’ category goods?
(A)They have strict control (B) They have moderate control
(C )They have no control        (D) They have loose control

8.Which of the following is the formula to calculate workers wage under Halsey Premium Plan?
(A)T x R + % (S-T-R) (B)TxR + %S(T-R)
(C )T x R + % (S-T) R (D)(T-R) x % (S-T) R

9.It said that Batch Costing is an extension of Costing.
(A)Contract (B)Job
(C )Process (D)Operation

10.The smallest sub-unit of an organisation where cost collection is attempted is :
(A) Cost Center  (B)Cost Element
(C )Cost Unit  (D)Cost Department

11.Zero Based Budgeting is related to whom of the following?
(A)Philip Kotler (B)Ronald Reagan
(C )Jimmy Carter        (D)Gerald Ford

12.In costing, the sum of direct material, direct labour and direct overheads are known as :
(A) Basic Cost ((B)Cost of Product
(C )Factory Cost (D)Prime Cost

13.Cost of abnormal idle time is : 
(A)Credited to Costing P&L Account (B)Debited to Costing P&L Account
(C )Credited to Production Account (D)Debited to Production Account

14.Which oneof the following is an uncontrollable cause of material price variance?
(A)Change in market price (B)Inefficient buying
(C )Emergence purchase        (D)Loss of discount

15.Two or more products, with same importance, produced during a production process is known as :
(A)Double Product (B)Joint Product
(C )Two Product process (D)By-Product

16.FIFO method is best suited when : 
(A)Prices are Falling (B)Prices are Fluctuating
(C )Prices are Rising (D)Prices are almost Stable
 
17.analysis is used primarily For control of spare parts.
(A) ABO                 (B)Need
(C ) VED                 (D) Cost

18.Which of the following is true with regards to 'Bin Card’?
(A) It records value only (B) It records value and quantity
(C )It records quantity only (D) None of the above is true

19.Average Stock Level is calculated with which of the following formula?
(A)Minimum Stock + Reorder quantity •
(B)Minimum Stock +1/4 Reorder quantity
(C )Minimum Stock + Reorder quantity
(D)Minimum Stock+ (Reorder quantity x Reorder Time)

20.What is ‘EOQ’ if: Consumption per Year is 600 Units, Carrying Cost is 20%, Ordering Cost is R8.12.00 per order and Price/Unit is Rs. 20?
(A)650 Units           (B)750 Units
(C )600 Units           (D)700 Units            

21.Which of the following is/are true with regards to 'escalation clause’?
(A)It is associated with contract costing
(B)Applicable when there is a change in the price of Labour and/or Material
(C )Not applicable when there is a Change in the utilization production factors 
(D)Both (A) and (B) above

22.Special Drawing Right (SDR) is rclated to which of the following institution?
(A)IBRD (B) WTO
(C )IMF (D) GATT

23.In which year the LlC was formed? 
(A)1962        (B) 1956
(C )1964        (D) 1979
         
24.Which of the following institutions regulate Indian Money Market in India? (A) RBI        (B) IRDA
(C ) SEBI (D) NBARD


25.Which of the following institution was formed in India with the help ofWorld Bank?
(A)IDB1        (B)IFCI 
(C )ICICI (D)DFHI 

26.Name the first mutual fund scheme offered in India :
(A)HSBC Equity 5 (B)UTI MF Scheme-1
(C ) SBI Magnum Equity (D) Unit Scheme - 64

27.All, except one, given below belongs to a group. Find out one which does not belong to the group.
(A)International Monetary Fund
(B)The International Development Association
(C )The Multilateral Investment Guarantee Agency
(D)The International Finance Corporation

28.RBI was established in which year?
(A)1938 (B)1935
(C )1948 (D)1945

29........Of the following, which was the first Development Financial Institution started in India? 
(A)IDBI   (B) NABARD
(C )LIC-HFL (D) IFCI

30.Which of the following insurance company has reinsurance business?
(A) LIC of India (B)Oriental Insurance Company Ltd
(C ) GIC of India (D)United India Insurance Company Ltd

31.What is the meaning of the Latin word 'audire’? 
(A) To hear (B) To find
(C ) To check (D) To note

32.Audit note book is maintained by whom? 
(A) Client’s clerk (B) Auditor
(C ) Client (D) Audit clerk


33. Which of the following statement is most suitable to an ‘audit report’?
(A) It is a fault finding report of audit    
(B) It is a report of errors and frauds 
(C ) It is an opinion of the Auditor . 
(D) It is always a statutory report

34.As per Indian Companies Act 2013, Section 139, an individual auditor, on appointment shall hold the office for a term of:
(A)10 years (B)1 year
(C )4 years (D)5 years

35.On completion of an audit, Audit Working Papers are :
(A)Returned to the Client         (B)Retained by the Auditor
(C )Submitted along with audit report (D)Destroyed immediately

36.Which of the following statement is wrong with regards to an internal auditor? .
(A)Has statutory Powers        (B)Appointed by the management
(C )Is an adviser to management (D)Can be removed at any time

37.Not recording a transaction in the books of account is treated as an error of:
(A)Duplication   (B)Omission
(C )Compensating   (D)Commission

38.As per Companies Act 2013, remuneration of the first auditor of a company is fixed by whom of the following?
(A)Registrar of companies        (B)First general body meeting
(C )As per rates shown in Act schedule (D)Board of Directors

39.Who appoint auditor in the case of a Government company or any other company owned or controlled, directly or indirectly, by the Government as per Companies Act 2013?
(A)Board of Directors (B)Respective Government 
(C )CAG of India        (D)Registrar of Companies

40.Which of the following statement is wrong with regards to internal check?
(A)It a part of internal control 
(B)It is done by appointed auditor 
(C )It is continuous in nature 
(D)It is to eliminate errors and frauds 

41.Following are the names of table of random numbers except:
(A)Tippett’s table of random numbers
(B)Kendall & Babington Smith numbers
(C )Luca’s table of random numbers
(D)Fisher and Yate’s numbers

42.Value of Probability lies between :
(A)-1 and+1 
(B)0 and 1 
(C )0 and 1, but cannot be 1 or 0 
(D)None of the above

48.Two unbiased coins are tossed. What is the probability of getting at least one tail? 
(A)3/4   (B) 1/2 
(C )1/4   (D)None of the above

44.Which of the following is the correct expression of regression equation of Y on X? 
(A) Ye = a • b X (B) Yc =a-bX
(C ) Yc = a ~ b + X (D) Yc = a + bX

45.The value of ‘No correlation’ is : 
(A) -1              (B) 0 .
(C ) +1              (D) Cannot be defined
   
46.Which of the following is not a property of ‘Normal Distribution’?
(A)Coefficient of skewness is one (B)It is bell shaped
(C )It is continuous curve ' (D)Mean, median and mode are equal

47.Which of the following is not a random sampling method?
(A)Stratified sampling (B)Systematic sampling 
(C )Cluster sampling (D)Judgment sampling

48.Theory of sampling is based on :
(A)Principle of 'Statistical Regularity’
(B)Principle of 'Inertia of Large Numbers'
(C )Both (A) and (B) above
(D)None of the above 

49.In which year the Indian Contract act was passed?
(A)1872
(C )1912

50.Which of the following is not a negotiable instrument?
(A) Treasury Bill ((B) Share Certificate
(C ) Share warrants (D) Bearer Debenture

51.Bank Draft is a :
(A) Bill of exchange drawn by a Bank (C ) . Not a negotiable instrument

52.Grace period for calculating maturity of a Bill of Exchange as per Act is 
(A)3 days (B)4 days 
(C )5 days (D)10 days

53.Which of the following Indorsement is not valid.under Negotiable Instruments Act 1881?
(A)Blank Indorsement (B)Full Indorsement 
(C )Partial Indorsement (D) Restrictive Indorsement

54.The 'Doctrine of Reputed Ownership' is related to which of the following?
(A)Contract of Sale of Goods Act (B)Insolvency Acta 
(C )Workmen Compensation Act        (D)Indian Contract Act

55. Of the following, which is the formal certificate of dishonour issued by a Notary Public, to the holder of a Bill or Note on his demand?
(A)Noting (B)Dishonour Certificate 
(C )Protest (D)Discharge Certificate

56.All crossings (drawing two parallel transverse lines, usually on the left hand top corner) on a cheque with following words - between parallel lines - are treated as general crossing, except:
(A) And Company          (B) Not Negotiable 
(C ) & Co                 (D) The State Bank  
    .
57.Which of the following is true with regards to a balance sheet?
(A)It shows changes in assets and liabilities of a business during the year
(B)It shows position change of a business between two particular dates
(C )It shows changes of a business for a particular year
(D)It shows position of a .business on a particular date

58.Income received but not earned is: -
(A)An Asset                (B) A Liability
(C )A Contingent Liability (D)None of the above

59.Bank Account is an example of: 
(A)Real Account       (B)Nominal Account 
(C )Profit Account (D) Personal Account


60Unclaimed dividend is shown under which heading in the balance sheet?
(A) Current Liabilities        (B) Provisions
(C ) Reserves and Surpluses (D) Miscellaneous Items

61.Surrender value of joint life policy is shown as asset in the balance sheet when premium is treated as:
(A) An ordinary business expense ((B) An investment
(C ) In both cases (A) and (B) above ((D) None of the above

62.In which year the Income Tax Act was passed?
(A) 1972 ((B) 1968
(C ) 1962 ((D) 1961

63.Which of the following statement is false with regards to ‘income' under Income Tax Act?
(A)It can be earned illegally
(B)It can be irregular or lump-sum
(C )It can be gift with clear personal element
(D)It can be of any form

64.Which of the following is not a business expense?
(A) Depreciation (B) Salaries
(C ) Wages        (D) All the above 

65.What is meant by the term ‘Adjusted Purchase’?
(A) Opening Stock + Purchases      
(B) Purchase - Purchase Returns
(C ) Purchase - Discount received      
(D) Opening Stock + Purchases — Returns

66.Which one of the following is correct with regards to Budget?
(A) It is a functional area of management 
(B) It is a standing plan 
(C ) It is a multi use plan 
(D)It is a single use plan

67.Which of the following is not a technique of scientific management?
(A)Scheduling (B)Standardisation 
(C ) Time Study (D)Motion Study

68.Theory of human motivation (need hierarchy theory) is given by whom?
(A)F.W. Taylor (B)Urwick 
(C )A.H. Maslow (D)Glueck

69.Who invented ‘Difference Engine’? 
(A) H. Emerson       (B) Gilbreth
(C ) Mc. Gregor       (D) Charles Babbage

70.Who among the following is treated as founder of 'Human Relation School’ of management?
(A)H.A. Simon (B)R. Likert 
(C )Elton Mayo (D)C.I. Barnard 

71.Which of the following is not a management function as given by H. Fayol?
(A)Planning (B)Organising 
(C )Control (D)Staffing

72.Which of the following best explains ‘Planning Premises’?
(A)Planning environment          
(B)Permissions available for planning 
(C )Resources available for planning 
(D)Available infrastructure facilities

73.The idea of 'Functional Foremanship’ of supervision is given by whom?
(A)Mary Parker Follett (B)F.W. Taylor 
(C )C. Argyris        (D)H. Fayol

74.Which is the oldest form of organisation?
(A)Line and Staff (B)Staff 
(C ) Committee .       (D) Line

75.The process that reduce the gap between planning and performance is :
(A)Staffing (B)Organising 
(C )Controlling (D)Communicating

76.‘Order of command that runs from top to bottom’ is explained by :
(A)Scalar Chain        (B)Unity of Command 
(C )Unity of Direction (D)Esprit-de-Corps

77.Accountability means what?
(A)Doing accounting duty
(B)Obligation for the performance of duty
(C )Ability to answer
(D)Willingness to perform duty

78.Which of the following primarily means to transfer authority from an individual to another?
(A)Delegating        (B)Sharing Responsibility 
(C )Division of Labour (D)Departmentalisation 

79.Who issue Treasury Bills in India? . .
(A)Government Treasury Department   (B)SBI 
(C )RBI                            (D)SEBI 

80.Which one of the following is not a right under. Consumer Protection Act 1986?
(A)Right to be informed  (B)Right to protect environment 
(C )Right to be heard  (D)Right to consumer education

81.The first characteristic Malayalam novel is ‘Indulekha’ published in : .
(A)1887 (B)1889 
(C )1789 (D)1888 

82.Swadeshibhimani Ramakrishna Pillai was deported from Travancore in :
(A)1911  (B)1910 
(C )1909  (D)1931.  

83.Channar agitation took place during the time :
  
(A) Ayilyam Thirunal (B)Utharam Thirunal 
(C ) Swathi Thirunal (D) Sreemulam Thirunal

84.‘Paschimodayam’ was published by : 
(A) Father Clement (B)Herman Guntert 
(C ). Thoma Kathanar (D)Gonsalvez

85.The first girls school was started at: •
(A) Kollam (B)Kottayam 
(C ) Kochi (D)Thiruvananthapuram

86.-‘Tatva prakasika ashram’ is an educational centre started by : ‘Tatva prakasika ashram’ is an educational centre started by :
(A) Vagbhatananda  (B)Sahodaran Ayyappan 
(C ) Sree Narayana Guru  (D)Ayyankali

87.Author of Kerala Sahitya Charithram : 
(A) Ullur S. Parameswara Iyer (B)Vallathol 
(C ) Kumaran Asan        (D)P.K. Narayana Pillai 

88.Deshabhimani was the newspaper of: 
(A) T.K. Madhavan           (B)Ramakrishna Pillai 
(C ) Vakkom Abdul Khadar Moulavi   (D)C. Krishnan

89.93rd constitutional Amendment related with : 
(A) Education         (B) Labour  
(C ) Social justice (D)Environment

90.The ex-officio chairman of Rajyasabha : 
(A) Vice president  (B) President
(C ) Speaker    (D) Prime Minister

91.Election commission came into existence in : 
(A) 1951 (B)1954
(C ) 1950 (D)1952
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