SAMPLE QUESTIONS

CLASS :T.Y.B.COM SEM VI C7525 Subject: Financial Accounting & Auditing : Paper VIII - FinancialAccounting

Sr. No. Question Option1 Option2 Option3 Option4

1

Debentures should be shownunder Secured loans Unsecured loans Reserve fund None of the above

2

Fixed deposits should be shownunder Loans Deposits Unsecured loans Current liabilities

3

The company must destroy thecertificate after buyback within_____. 7 days of completion

10 days ofcompletion 21 days of completion 42 days of completion

4

After completion of buyback,Buyback Return must be filedwith _____.

Registrar ofcompanies SEBI Registrar and SEBI Registrar of Stock Exchange

5

To comply with the obligationsunder Buyback the companymust open _____. An escrow A/c A current A/c A savings A/c A fixed deposit A/c

6

Before buyback the companyshall file with the Registrar andSEBI _____.

A statement in lieuof prospectus A prospectus

A declaration ofinsolvency A declaration of solvency

7

Equity shares can be bought back_____.

out of profits only out of proceeds offresh issue out of capital profit only

out of free reserves / securitiespremium / proceeds of fresh issue

8

Loose tools should be disclosedunder Fixed assets Current assets Other items Misc. Expenses

9

Govt. securities purchasedshould be disclosed under Investments Current assets Other items Misc. Expenses

10

An exchange rate on the date ofBalance Sheet is known as _____. average rate closing rate non-monetary rate monetary rate

11

Non-monetary items are valuedat _____. market price current price historical cost fluctuating price

12

Reporting currency is thecurrency used in _____.

settling financialtransactions

presentingfinancialstatements

recording financialtransactions none of the above

13

Foreign currency is a currency_____.

used in recordingforeigntransactions

in presentingforeign financialstatements

other than thereporting currency none of the above

14

The exchange difference arisingdue to import of raw material istransferred to _____.

purchase trading Profit & Loss Account suppliers

15

Only ______ goodwill isaccounted. Average Profit Purchased Present benefit Super profit

16

______ is calculated on the basisof adjusted average profit. NRR FMP MP & EPs EPS

17

The Debt : Equity ratio, afterbuy-back should not exceed_____. 2:01 1:01 1:02 3:04

18

The security under Buybackcannot be issued within _____.

one year two year six months three months

19

Buyback of equity shares in anyfinancial year shall not exceed25% of its _____.

paid up equitycapital of thecompany

paid up capital andreserves

paid up capital and freereserves nominal capital and free reserves

20

Which of the following is a freereserve for the purpose ofbuyback of shares?

workmen’scompensation fund(after meetingliabilities)

capital redemptionreserve

debenture redemptionreserve Forfeited Shares Account

21

In case equity shares are boughtback out of free reserve, amountequal to face value of equityh b ht b k h ld b

General ReserveAccount

DevelopmentRebate Reserve Sinking Fund Account

Capital Redemption ReserveAccount

22

The objective of buyback ofequity shares is _____. To reduce earning

per share To increase sharecapital

To bring cash inbusiness None of the above

23

Commission on Sale allocationon the basis Post incorporation Pre Time Ratio Sales Ratio

24

Bad debts written off realized isshown under

Pre-incorporationincome

profit & LossAccount

Post-incorporationincome Revenue profit

25

Post acquisition profits aretreated as---------------. Revenue profit capital profit capital reserve revenue reserve

Exam : Rev 16 Subject : Financial Accounting and Auditing X - Cost Accounting

Class : T.Y.Bcom Semester: VI

Sr. No. Question Option1 Option2 Option3 Option4

1 Value of work certified – Rs.5,00,000, Cost of work to date –Rs. 4,00,000 Cost of work not yet

tifi d R 1 00 000 N ti l

Rs. 1,00,000 Rs. 2,00,000 Loss of Rs.1,00,000 Loss Rs. 2,00,000

2 The Difference between actualquantity and standard quantity ,multiplied by standard price isth

Labour ratevariance

LabourEfficiencyvariance

Material Usagevariance Material Price Variance

3 This is also known as "WeightedAverage cost method.________

ContributionMargin method Survey method Net Realizable value

method Average Unit cost method

4 P/V ratio 50%, BEP Sales Rs.10,00,000 fixed cost will be ___ Rs. 500,000 Rs. 600,000 Rs. 530,000 Rs. 1,000,000

5 Which cost accumulationprocedure is most applicable incontinuous mass production

f t i i t

Standard Actual Process Job order

6 The balance of work in progressacoount is equal to_______________

The total cost ofthe jobs completed

The total cost ofthe jobs

completed andld

The totalmanufacturing costincurred during the

i d

The total cost of incomplete jobs

7 _____ is the excess of actual salesover Break even sales. B.E.P. Increases BEP Margin of Safety decrease in BEP

8 To record the cost of indirectlabor, which of the followingwould be debited? ______

Work in process Manufacturingoverhead

Finished goodsinventory Wages Payable

9 Margin of safety is referred toas______

excess of salesover break-even

sales

excess of salesover fixed cost

excess of sales overvariable cost

excess of sales over budgetedsales

10 If Sales are Rs. 80,000 andvariable cost to sales is 70%,contribution is ____.

Rs. 56,000 Rs. 24,000 Rs. 70,000 Rs. 30,000

11 Value of work-certified but notpaid is known as ________. Work uncertified Retention money work certified contract price

12 The cost of any sub-contractedwork is ______

A direct expenseof a contract andis debited to the

t t t

An indirectexpense of a

contract and isd bit d t th

A direct expense of acontract and is

debited to the clientt

An indirect expense of a contractand is debited to the client

account

13 The use of indirect materialwould usually be reflected as anincrease in _____________.

Stores control Work in ProcessControl

manufacturingoverhead applied Manufacturing overhead control

14 A process givesrise,incidentally,to an item oflow value,which is called______

A joint product A by-product Scrap Waste

15 Variable cost Rs.4 contributionRs. 4, P/V ratio will be____. 40 50 30 20

16 Abnormal gain is valued at ____ Cost of input Cost of output Standard cost Market Value

17 Labour rate standard is decidedby _________. HR department Purchase

department sales department production department

18 Cost of material lost ordestroyed______.

is credited to theContract Account

is debited to theContract Account

is debited to theCosting Profit and

Loss Account

is credited to the Costing Profitand Loss Account

19 The total profit on a contract forRs. 3,00,000 is Rs. 60,000 and thecontract is 60% complete and hasb tifi d di l Th

Rs. 60000 Rs.36,000 Rs. 28,800 Rs. 48,000

20 Work certified is between 25%and 50% of the contract price.The transfer to P & L A/c will be

1/3rd of Notionalprofits, reduced inthe ratio of cash

i d t k

2/3rd of Notionalprofits

100 percent ofNotional profits 1/4th of Notional Profit

21 Sales are Rs.6,00,000, Variablecost is Rs. 3,40,000 profit is 20%on sale. Fixed cost will be____.

Rs. 140,000 Rs. 150,000 Rs. 1, 80,000 Rs. 100,000

22 Profit Rs.30,000, Variable Cost perunit Rs. 8, selling price per unitRs. 10. The Margin of Safety willb

Rs.1,40,000 Rs. 145,000 Rs. 125,000 Rs. 150,000

23 Contribution = sales – ________. Work Cost Fixed Cost Prime Cost Variable Cost

24 BEP (Rs.) = Fixed Cost / _____. Sales and fixedcost P/V Ratio Sales and Variable

cost Fixed cost + variable cost

25

If the selling price per unit is Rs.8, the unit variable cost is Rs 6and fixed costs are Rs. 30,000; thebreak-even points in units will

10,000 units 15,000 units 20,000 units 40,000 units.

TYBCOM SEM VI C7525 AUDITING

SR.NO Questions Option1 Option2 Option3 Option4

1

Audit is derived from the Latin wordwhich is______ Audir Audire Auduit Audite

2

Audit in depth is synonymous to______ Complete Audit Completed Audit Final Audit Detailed Audit

3

The accounts are said to be TRUEand_______ correct right fair good

4

The company should disclose all____ facts material good financial legal

5

_____ is an unintentional mistake infinancial statements Frauds Error Manipulation omission

6

Showing worse condition of books ofaccounts than Actual position is_____ Window dressing Secret reserve Error of Omission Error

7 Internal reports includes_____ Annual report trade journal websites publication of proff. Bodies

8 Error of Omission is ______ Error of Principle Clerical Error compensating error commission error

9

Auditor should ensure that cashreceipt are____in the bank account promptly deposited posted casted showed

10

Audit of small organization isgenerally ______ Temporary Compulsory Voluntary periodic

11

Internal auditor has ____to attend themeeting of shareholders full rights no rights responsibility duty

12

For checking the deposits in the bankaccount auditor should checkthe____slip

withdrawal pay-in Invoice purchase

13

Haphazard selection is one of the______of selecting sample items technique principle method rule

14

Auditor should ensure that salesreturns are not recorded in ___book sales purchase purchase return cash

15

The cancellation of appointment ofConcurrent auditor should bereported to RBI &______

ICAI ICSI SEBI IMA

16

Auditor should ensure that cashreceipt are____in the bank account promptly deposited posted casted showed

17

Auditor should examine the ____tostudy from it all rules and clausesaffecting or relating to the accounts ofcompany

MOA Annual report AOA legal documents

18

Acconting Control and Administrativecontrol are the categories of _____ Internal system Internal control Internal Audit Audit planning

19 SA 610 covers ______ Audit Planning Internal Audit Documentation Working Paper

20

Internal auditor is a/an ____of thecompany employee shareholder debtor creditor

21

An External auditor must an qualified_______

CharteredAccountant Lawyer Graduate from any

stream master in any stream

22

Foreign travel directors requiresanctione from____ government shareholder board of director auditor

23

__ auditing is essecially andenvironmental management tool formeasuring the effect of certainactivities on environemnt agianst set

Social Audit EnvironmentalAudit Forensic Audit HR audit

24 SA 530 defines___ Audit Planning Audit sampling test check Audit programme

25

Private company having Turnover of₹__crore should conduct InternalAudit

100 200 250 300

BUSINESS ECONOMICS C7525 SEM VI TYBCOM

SR.NO Question option 1 option 2 option 3 option 4

1

According to moderntheory,___________ is responsiblefor international trade. labour factor abundance money none of these

2

An overpopulated country willhave ________ terms of tradebecause of increased demand fori t

favourable unfavourable both a and b none of these

3 Terms of trade are expressed as_____________. cost ratio

price ratio ofexports and

imports profit ratio all of these

4 Current accountincludes____________. unilateral receipts

unilateralpayment structural discrepancy a and b

5

Reducing public expenditure tocorrect BOP disequilibrium is a_____ measure. Monetary Fiscal Special none of these

6 TRIMS deals with_________ Foreign investments Foreign Aid Services Goods

7 Vehicle currency is a______________- ternationally acceptrrency issued by IMCurrency issued by RBIrency issued by European Central Bank

8 ___ is not a function of foreign exc Transfer Credit Hedging Invetment

9 Trading in foreign exchange has bimplified procedureanced banking facil improved technology all of these

10 Equilibrium rate of exchange depe demand factors supply factors both a and b none of these

11 The limitation of purchasing powection of index numbicable to static econ applicable in long run all of these

12 FERA was replaced by____ FEMA FMCO NEER LERMS

13 According to Ricardo, internationa Absolute cost Comparative cost equal difference in cost Relative Cost

14 Ricardian theory assumes perfect within the country tween the countrien and between the coun outside countries

15 Comparative cost theory is a static

labour ishomogeneous

within thet

there is noqualitative and

quantitativeh i i t

here is no transport cos there is no qualitative

16 Ricardian theory measures compa money Supply cost of all the inputs labour days

17

An overpopulated country willhave ________ terms of tradebecause of increased demand fori t

favourable unfavourable both a and b none of these

18 External borrowing is treated as_________ in BOP. accomodative flow

autonomousflow invisible flow all of these

19

Which of the following is not acause of deficit in balance ofpayment. increase in imports fall in exports globalization capital inflows

20 Hedgers enter forward exchangemarket to _________ cover risk earn profit speculate none of these

21 Indian foreign exhange market is one tier two tier three tier four tier

22 Under flexible exchange rate syste central bank market forces government none of these

23 In most of the countries______ inte RBI Central Bank Commercial Bank IMF

24 PPP theory considers that all price Continuously uniformly up and down none of these

25 LERMS stands for ______________. d Exchange Rate Maange Rate ManagemEarnings Rate Managem all of these

MHRM PAPER SEM VI C7525 TYBCOM

Sr. No. Question Option1 Option2 Option3 Option4

1

A vacancy filled by _____ ofemployees from one department toanother.

Transfers Promotion Training Dismissal

2

Organizational development focusesattention on assuring ____________relationships throughout theorganization

Grapevine Informal Healthy Temporary

3

In _____ interviews are conducted asper rules and regulations.

Panel Stress Formal Informal

4

Under ____________ the superiorplays an active role in the training thesubordinate

Counseling Coaching Innovation Progress

5

HRD plays an important role inenhancing commitment and_______________ of the employees

System Training Morale Dedication

6

HR manager recognize the ________of employees to improve employeewelfare

Need Choices Preferences Likes

7

An organization must ________ theneed for training

Tasks Morale Develop Analyze

8

The HR manager may invite_______________ from theemployees to make training moreeffective

Complaints Suggestions Expectations Grievances

9

The Job rotation occurs mainly at___________ level positions ofmanagement

Lower Higher Lowest Parallel

10

Theory X is based on _____assumptions of human nature.

positive natural general negative

11

Management must frame effective_____________ in all functionalareas

Attitude Potential Training Strategies

12

Human Relation Approach has _____application.

special general universal ordinary

13

_____ is a written complaint filed byan employee receiving an unfairtreatment.

Respect Grievance Affidavit Contract

14

The quality of job performanceimproves due to _____

Specialization Simplification Participation Compensation

15

_____ analysis is the process ofstudying and collecting informationrelating to operations of a specific

Job Role Cost benefit Promotional

16

Transformational leaders are _____in nature.

silent reactive argumentive proactive

17

Training helps to __________knowledge and skills

Upgrade Avoid Fatigue Negative attitude

18

_____ is the gradual reduction in theworkforce through resignation,retirement and death.

Downsizing Attrition Outsourcing Employee Turnover

19

The process of dividing the job andsmaller sub-parts.

Job analysis Job identification Job specification Job simplification

20

Salary and bonus payment are _____factors of motivation.

Downsizing Attrition Outsourcing Employee Turnover

21

Motivations is the _____ ofmanagement process.

conclusion essence drawback Price

22

___________ aids in problemsolving and qualitative decisionmaking

Abilities Mentoring Functions Role

23

In _____ interviews list of questionsto be asked to the candidates isprepared well in advance

Formal Informal Unstructured Structured

24

Cordial Human relations are _____for the growth of the enterprise.

desirable undesirable dangerous not necessary

25

_________ technique of class room m Stimulation Case study Method Vestibule Machine based

Tybcom c7525 DIRECT AND INDIRECT TAXES sem 6

sr.no Question option 1 option 2 option 3 option 4

1 Service tax law extends to _______ whole of India except

Jammu and Kashmir whole of India Maharashtra all states and union territory

2 E-filling returns is ____ voluntary mandatory optional as person wish

3

goods' as defined under MVAT ,2002DOES NOT INCLUDE________ patents lottery tickets livestock trees

4

Functions performed by personsholding constitutional posts are ____

in 'service' included covered exempted not included

5

a carterer opting for consumptionscheme should apply for it in_______ FORM 4 FORM 3A FORM 1 FORM 2

6

service tax is not payable if theaggregate value of taxable service

does not exceed_____ 8,00,000 10,00,000 4,00,000 6,00,000

7

rule 7 is not applicable if payment isnot made within _______from invoice

date 6 months 9 months 30 days 45 days

8

value of taxable service______expenditure or costs incurred

by the service provider as a pureagent if all of the specified condition

excludes includes exempts deducts

9

Transfer of title means change in____ ownership custody possession name

10 Tax free goods are in____ schedule A schedule B schedule C schedule E

11 tax at 1%________ schedule A schedule B schedule C exports

12

goods as defined under MVAT doesnot include_______ money livestock plants trees

13

return of service tax has to be filled_____ monthly quarterly half yearly yearly

14

_____includes any amount that ispayable for the taxable service

provided or to be provided value tax consideration provision

15

Out of following ,_____ fall undernegative list betting gambling lottery all the three

16 VAT does not apply to______ importer retailer works contractor consumer

17

when the due date for form fillingreturn of service tax is a ____then the

return may be filed on succeedingworking day

bank holiday festival Sunday public holiday

18

Service provided on contract basis____services in course of

employment are are not can be include

19

Service tax is levied at the point of_____ construction distribution production consumption

20 the VAT rate depends upon_______ the buyer

the goods i.e.covered by which

schedule the amount of sales the seller

21

Point of taxation is relevant for thepurpose of____of service tax payment provision collection determination

22 Tax at 5%______ Central sales tax schedule B schedule C schedule E

23 value added tax is a form of_______ income tax service tax sales tax entry tax

24 Service tax is levied under _____ entry 79 entry 77 entry 97 entry 90

25

declared goods aretaxable@______% w.e.f_______ 5 , 1.4.10 5 , 1.5.10 5.5 , 1.5.11 5 , 1.4.11

TYBCOM SEM VI C7525 Computer System & Application Sample Paper

Sr. NO. Question Option 1 Option 2 Option 3 Option 4

1 Buying and selling products on th EDI E-Commerce E- Business E market

2 EDI stands for Electronic Data Info Electronic Data Int Electronic Data Interfa Electronic Data Inference.

3 The full form of B2B in E-Commer Bill to Bill Business to Busin Bill to Business Business to Bill

4 The full form of SSL in E-Commer Secure Socket Layer Secure Socket Loop Secure Socket Locket Secure Socket Liaison8.

5 _____ is part of E-Commerce. B2B C2C B2C All of these

6 The emerging market economy wh E-Commerce E-market Supermarket EDI

7 A Public Key differs from the Priv It being used only f It being used only It being shorter in Len None of the above

8 The model in E-commerce where c Sales Revenue Transaction Fee Re Advertising Revenue Affiliate Revenue

9 Sender and Receiver have same ke Symmetric Key Encr Asymmetric Key E DES PKI

10

Solver is a What-If analysis toolthat : depends on the use is an add-on produ is used for simple anal is same as goal seek.

11

Which of these tools is used toperform What-If analysis? Scenario Manager Goal Seek Solver All of these

12

A function that returns day ofthe month, a number from 1 to31 is DAY() DATE() TODAY() WEEKDAY()

13

Which of the following functionreturns the specified number ofcharacters from start of the givent i ?

LEN() RIGHT() LOWER() LEFT()

14 Which of the following function(s =RIGHT() =MID() either LEFT() or MID() None of these

15 The formula =MID("COMPUTER",2,3) returns OM OMP COM TER

16 Values used with a function are ca Arguments parameters variables None of the above

17 The ____ function gives the correla LARGE() COUNTA() COUNTBLANK(), CORREL()

18

A Scenario uses all of thefollowing except : changing cells a table area

result cells formulas

19 Visual Basic is a programming lan

procedural event driven sequential classical

20 If an object obj has a property prop obj; obj.prop; prop.obj; prop

21 VBP , a default extension seen in Visual Binary Proje Visual Basic Projec Very Basic Project; Visual Basic Parameter

22 Which of the following is appropr intMks 3MarksAccts Marks+Accts M%

23 Which of the following is a valid o txtClass txt Class txt+Class All of the above

24 In the For/Next loop, the default st

0 1 2 -1

25 Val() function is used to convert text to numeric numeric to text integer to decimal integer to currency