sybcom semester iv accountancy & financial management …
TRANSCRIPT
SYBCom SEMESTER IV – ACCOUNTANCY & FINANCIAL MANAGEMENT IV
Q
No Question A B C D
1 Which form of organisations have all
the following features of Voluntary
Association, Separate Legal Entity,
Perpetual succession, Common Seal
and Limited liability
Partnership
Firm Sole Trader
Charitable
Trust
Limited
Company
2 On the basis of liability of members, a
company may not be classified as
_______
Limited by
guarantee
Unlimited
Company
Limited by
shares
Limited by
Capital
3 The Directors of company need to
have a unique number called
_________
Director‟s
Identification
number
Permanent
account number
Aadhar
number
Directors
Invitation
number
4 Government Company is a company
in which not less than ______of the
paid-up share capital is held by central
/ state government
40% 100% 49% 51%
5 Documents that are not required for a
company
Partnership
deed Prospectus
Article of
association
Memorandum
of Association
6 The common seal of a company is
like it‟s_________ Signature
Certificate of
Incorporation
Certificate
of
Commencement
Certificate of
Name
7 Certificate of Incorporation is issued
by the _______
Commissioner
of Police
Commissioner
of Income tax
Registrar of
firms
Registrar of
Companies
8 Shares that carry a fixed rate of
dividend are called_____
Preference
shares Equity shares
Ordinary
shares Debentures
9 Section 55 of the Indian Companies
Act, 1956 lays down that a company
cannot issue _______ types of shares
Cumulative
Preference shares
Participating
Preference shares
Irredeemable
Preference shares
Redeemable
Preference shares
10 Shares given free of cost to the
existing shareholders are called
_________
Right shares Bonus shares Differential
shares Sweat shares
11
On redemption of Debentures by
conversion into equity shares the
amount of transfer to general reserve
is _______________
Face value of
debentures
redeemed
Face value of
equity shares
issued
Nil
Difference
between face
value of
debentures
redeemed and the
amount of equity
shares issued
12 A company issuing debentures is
required to create Debenture
Redemption Reserve if the maturity
period is more than __________
10 months 15 months 18 months 24 months
13 A company may redeem debentures
out of capital if the maturity period is
less than ___________
18 months 12 months 15 months 24 months
14
Premium on redemption of debentures
is ___________
Adjusted from
capital profit
Adjusted from
accumulated profit
Not adjusted
at all
Adjusted
from secured
loans
15 For redemption of debentures Sinking
fund is created out of ___________
Capital
Reserve Share Capital
Unsecured
Loans
Current year
profits
16 Premium on redemption of
Debentures till the date of redemption
appears in the Balance Sheet on
Asset side of
Balance sheet
Credit side of
Profit and Loss
A/c
Liability
side of Balance
Sheet
Debit side of
Profit and Loss
A/c
17 Profit on redemption of debentures
should be transferred to _______
Capital
Reserve
General
Reserve
Securities
Premium Goodwill
18 In case of Profits prior to
incorporation the excess consideration
paid over the net asset value taken
over is called ________
Goodwill Capital
Reserve
Securities
Premium
General
Reserve
19 The profit during Post Incorporation
period is called______ Net Profit Capital Profit
Securities
Premium
Capital
Redemption
reserve
20 In computing Profit prior to
incorporation Office expenses should
be allocated in ___________ ratio
Time Profit Sales
Pre-
incorporation
only
21 A company is a company
incorporated under the Companies
Act __________. 2010 2012 2013 2015
22 A group of persons associated for
some common purpose is known as partnership firm sole trader
co-operative
society company
23 Which of the following is not a
feature of Company? unlimited liability common seal
voluntary
association legal entity
24 A company is a continuous
organisation. This reflects which of
the feature of the company? common seal
voluntary
association legal entity
perpetual
succession
25 The minimum number of members in
a private limited company is - 1 2 3 4
26 The minimum number of members in
a public company is - 2 3 5 7
27 The maximum number of members in
a private limited company is - 50 100 200 250
28 The maximum number of members in
a public company is - 500 1000 5000 unlimited
29 ______ investments are the one for
which permission has been granted to
deal in a stock exchange.
permitted
investments
quoted
investments
non-quoted
investments
granted
investments
30 Current assets are those which can be
converted into cash within a period of
_______ months. 3 6 12 8
31 Which of the following redeemable
pref. shares of ₹10 are eligible for
redemption?
on which
application and
allotment money
of ₹5 has been
paid by cheque
on which
application and
allotment money
of ₹8 has been
paid in cash
on which
application and
allotment money
of ₹10 has been
paid
on which
application and
allotment money
of ₹6 has been
paid
32 If pref. shares are redeemed by
conversion into equity shares, then, th
amount transferred to Capital
Redemption Reserve is -
Nil equal to the face
value of pref.
shares redeemed
equal to the face
value of the
equity shares
issued
difference
between the face
value of the pref.
shares redeemed
and the equity
shares issued
33 Provisions regarding redemption of
pref. shares are given in -
section 78 of
Companies Act,
2013
section 81 of
Companies Act,
2013
section 77A of
Companies Act,
2013
section 55 of
Companies Act,
2013
34 Balance of Capital Redemption
Reserve Account is shown under
Liabilities side of the Balance Sheet
under
Share Capital Secured Loans Reserves &
Surplus
Current
Liabilities
35 Profit on forfeiture of redeemable
pref. shares is credited to
Capital Reserve
Account
Capital
Redemption
Reserve Account
Profit & Loss
Account
General Reserve
Account
36 Acompany cannot issue redeemable
cumulative pref.
shares
redeemable non-
cumulative pref.
shares
redeemable
participating
pref. shares
irredeemable
pref. shares
37 Preference shares can be redeemed Out of profits only Out of proceeds of
fresh issue only
equal to the face
value of the
equity shares
issued
Out of proceeds
of fresh issue
only and / or
profit otherwise
available for
distribution by
way of dividend
38 To the extent preference shares have
been redeemed out of profits, amount
equal to the face value of preference
shares redeemed should be transferred
to
Development
Rebate Reserve
General Reserve Sinking Fund Capital
Redemption
Reserve Account
39 X Co. Ltd. has to redeem 1,000
preference shares of ₹ 100 each at 10
percent premium. It issues 5,000
equity shares of ₹ 10 each at 10 % .
General Reserve amount transferred
to capital redemption reserve will be
₹ 1,00,000 ₹ 50,000 ₹ 55,000 ₹ 1,10,000
40 A company cannot issue redeemable
preference shares for a period
exceeding
6 years 7 years 8 years 20 years
41 A company cannot issue redeemable
preference shares
only at par only at premium only at discount only at par/ only
at premium
42 S. Ltd. issued 2,000, 10% Preference
shares of ₹ 100 each at par, which are
redeemable at a premium of 10 % .
For the purpose of redemption, the
company issued 1,500 Equity shares
of ₹ 100 each at a premium of 20 %
per share.At the time of redemption
of Preference shares, the amount to be
transferred by the company to the
Capital Redemption Resreve Account
will be
₹ 50,000 ₹ 40,000 ₹ 2,00,000 ₹ 2,20,000
43 .Light Ltd. has 10,000 5 % preference
shares of ₹ 10 each to be redeemed
after 5 years. The company forfeited
500 preference shares on which final
call of ₹ 2 has not been received after
due notice and cancelled these shares
on account of redemption. Remaining
shares were redeemed out of reserves
of the company .The amount to be
credited to capital redemption reserve
will be
₹ 1,00,000 ₹ 95,000 ₹ 99,000 ₹ 99,500
44 Indigo Ltd. has 10,000 10 %
redeemable preference shares of ₹ 10
each, fully paid up and 1,000 10%
Redeemable Preference shares of ₹ 10
each partly paid-up . The company
decided to redeem preference shares
at par by the issue of sufficient
number of equity shares of ₹ 10each
fully paid up at par . The number of
equity shares issued should be
9,000 11,000 10,000 12,000
45 Ankush Ltd. had issued 10,000 , 10
% Redeemable Preference Shares of ₹
10 each at a premium of ₹ 2 per share
as fully paid up. The amount to be
transferred to capital redemption
reserve account will be
10,00,000 12,00,000 8,00,000 Nil
46 Which of the following statements is
not true with regard to redemption of
Preference shares
Partly paid shares
cannot be
redeemed
The redemption of
preference shares
shall be taken as
reduction of
company's
authorised share
capital
Preference shares
can be redeemed
either out of the
profit or amount
of fresh issue of
shares
Fully paid
preference shares
cannot be
redeemed
47 When redeemable preference shares
are due for redemption, the entry
passed is
Debit redeemable
preference share
capital a/c ; credit
cash a/c
Debit redeemable
preference share
capital a/c ; credit
preference
shareholders a/c
Debit preference
shareholders a/c
; credit cash a/c
Debit preference
shareholders a/c
; credit capital
reduction a/c
48 Which of the following cannot be
utilized for the redemption of
preference share capital of a company
Proceed of fresh
issue of shares
General Reserve Securities
premium on
fresh issue of
shares
Dividemd
equalization
reserve
49 Which of the following statements is
false
Redeemable
preference share
can be issued, if
authorized by the
articles of
association
Capital
Redemption
Reserve cannot be
used for issue of
fully paid bonus
shares
Redeemable
preference share
can be redeemed
only when they
are fully paid
Redeemable
preference shares
can be redeemed
ot of profits of
the company
50 A Ltd. Company has to redeem
Redeemable Preference Shares of the
value of ₹1,00,000 for which the
company has issued 3,000 equity
shares of ₹10 each at a premium of
10%. The amount to be transferred to
Capital Redemption Reserve Account
will be :
₹ 1,00,000 ₹ 70,000 ₹ 1,10,000 ₹ 67,000
Advertising
1
Advertising creates employment as it
increases the volume of sales and
___________________________
Production Marketing Promotion Personal selling
2
____________ is the set of practices that
enables organisations to communicate
and engage interactively with their
audiences through any mobile device or
network.
a. Mobile marketing b. Social web
marketing.
c. Internet
marketing
d. Social media
marketing
3 The research which enables an ad agency
to better understand how consumers use a
product or service is....................
Evaluative Research Strategic research Target Research Consumer
Research
4 Following are the
advantages of Television Advertising,
Except :
Grabs attention. ... Combines sight
and sound. ...
Fosters emotion
and empathy. Changes are easy
5
The advertisement on _______ is
short lived as the commercials last for
30 seconds or less, which might be
very less to create an impact.
Newspaper TV Radio Magazine ads
6
______ cater for particular audiences
and use different formats offering
brands a great opportunity to speak
directly to the market segment they‟re
targeting.
Newspaper TV Radio Magazine ads
7
It is difficult to generate
________interest by just placing a
billboard on the side of the highway,
even if it is a high traffic area because
it is not targeted at any specific
audience
Customer Employees Shareholders Suppliers
8 Which social network is considered
the most popular for social media
marketing?
Twitter Facebook Linkedin Whats App
9 Following are the codes set by
Doordarshan ,Except
No Attack on race,
caste, color, creed,
and nationality
Not Against
constitutional
provisions
Not Promoting
intoxications
Promoting
violence
10 _________ advertising is advertising
that reaches consumers when they are
outside their homes.
Newspaper TV Radio Out of Home
11 ____is a media objective. Brand Equity Brand Image Awareness Reach
12 The letter 'G' in DAGMAR model stands
for. Gains Goals Going Grouped
13
Under___________method of preparing
Ad budget, the advertiser finalizes the
budget without considering the volume of
sales or objectives of advertising.
Profit share Arbitrary Market share Task
14 ____refers to the goals that the chosen
media need to accomplish Media Objectives Media Resources Media-mix Media Research
15 Ad campaign consists of a______ of
advertisements. Group Series Part Single
16 Media planning helps in
media__________. Identity Study Selection Controlling
17 ___________is the second
communication goal in the DAGMAR
model.
Action Awareness Research inputs According
18 Communication objectives includes
____________. Creating awareness Sales Target Market share Profit share
19 Sales objectives are framed by
___________
Communication
Department Sales Department Ad agency Advertiser
20 ____objectives are quantitative in nature. Communication Sales Company Departmental
21 _______ refers to the timing of the ad
insertion the media. Continuity Media reach Frequency
Gross Rating
Points
22
__________ refers to number of times
within the specific time period that an
average person or household is exposed
to the Ad message.
Frequency Media reach Continuity Gross Rating
Points
23 _________ refers to the goals that the
chosen media need to accomplish. Media objectives Media mix Media research Media resources
24 ________ is an element of media mix. Manufacturing Model Methodology Message
25 __________ is a measure of repetition. Frequency Continuity Reach Gross rating points
26 Advertising ________ determines the
advertising media. Image Distribution Competitor Budget
27 The letter 'P' in USP stands for
___________. Point Process Procedure Proposition
28 _________ refers to conceiving a new
idea. Flexibility Methodology Creativity Practicality
29 __________ is the last step involved in
the creative process. Analyse the ideas
Short listing of
ideas Production of ad Drafting of ad
30 The full form of TOM is _________. Type Of Media Top Of Mind Technique Of
Media Type Of Message
31
______ refers to the number of persons
or households exposed to a media
programme at least once during a specific
time period
GRPs Media Reach Frequency USP
32 _________ are special indicators of a
product. Selling points buying motives appeals Analysis
33 ____________ is the centeral idea of an
ad campaign Creative Brief Creative Pitch Message Theme Creative Team
34
Creativity in advertising is must to create
_____________ awareness. When an ads
is innovative,it creates a good impact on
the minds of the people.
Top Of the Mind Illustration Creative brief Media Reach
35
The ________ will direct the copy writers
to prepare an effective copy including the
headline, copy text, Slogan, and other
elements of copy.
Analysis of product Copy Director Production of Ad Creative Director
36 ___________ means the ability to see
images in the mind and to imagine how
an ad will look like when it is completed.
Illustration Visualisation Media Reach Target Market
37
The Salesman makes use of selling points
to overcome the sales resistance of the
customers. ____________ are the special
points pf the products.
Selling points Story Construction Brain Storming Unquie Selling
38 ____________ may reqire less time and
efforts on the part of the customers to
make a buying decision.
High Involvement Low Involvement Nature pf the
product
Price of the
product
39 ______ is a big market in india and
continues to grow bigger.
Celebrity
endorsement Professionals Loyal Customers Models
40
__________ is done using a celebrity to
endorse brands is a good differentiation
tool in to survive the threats of
competition
Repositioning of the
brand Public relations
Creates
Differentiation
Increased product
usage
41 ________ refers to signature of the
advertiser. Logo Slogan Illustrations Copy
42 _______ copy is also known as reason-
why copy in ads. body copy hard sell soft sell testimonial
43 Some advertisements have 2 headline,
one is main and other one is ________ Headline Sub headline Body copy Caption
44 __________ is the importance of
illustration To capture attention To confuse viewer
To give too much
information
To make viewer
laugh
45 _______ refers to presentation of
advertising in idea in a dramatized
manner.
Dramatization Animation Testimonials Demonstration
46 _______ is the advantage of Jingles Recall value is
greater Adds noise
Distracts the
attention of
audience
Confuses
47
A group of consumers is selected to
obtain the preference for one or two ads
out of several being considered by
advertiser is ________.
Check List Method Consumer Jury Test Sales- Area- Test Inquiry Test
48 In ______ type of copy, no reasons for
buying the product are stated. Hard Sell Copy Soft Sell Copy Descriptive Copy Institutional Copy
49 The purpose of pre-test is ________.
Find out
communication
effect
Adds noise
Distracts the
attention of
audience
Confuses
50 Copywriter must keep the message
______. Simple Confusing In depth Complex
Commerce
SR. NO.
1 ______ is the process of transforming
raw material into finished goods for
sale.
Marketing Production Selling Packaging
2 ______ is not a consumer products? Convenience
products Specialty products
Material and
parts
Shopping
products
3 In process production _____ product
type is produced. Multiple Single Combo Few
4 Mass production is an example of
_______ production system. General Continuous Intermittent Interval
5 _____ is the ratio of output to input. Quality Efficiency Effectiveness Productivity
6 ______ is an element of production
planning Dispatching Routing Followup Packaging
7 Inadequate production capacity
ultimately leads to Poor quality
Poor Customer
Service
Poor inventory
control
Good Customer
Service
8 TQM refers to __________________ Total quantity
management
Total quality
management
Total quality
marketing
Total quotient
management
9
___________ is balance between all
factors of production that gives
maximum output for the minimum
input.
Production Output Productivity Technology
10 Routing _________ scheduling in
production planning. Follows Go hand in hand
Simultaneous
with Precedes
11 __________ technique is often
reffered to as 'Always Better Control'.
CARDEX
system
ABC
Classification MAPICS Just-in-time
12 ____________ is also known as
reorder quantity.
ABC
classification
MAPICS CARDEX
system
Economic Order
Quantity
13 __________ is a process of
maintaining and monitoring the size
of inventory at appropriate level.
Quality Control Inventory Control Financial
Control
Production
Control
14 __________ control is concerned with
end result of quality. Inventory Material Quality Production
15 TQM places emphasis on __________
approach. Defect-free Corrective Defective Positive
16 _________ costs are commonly called
as inspection costs.
Internal Failure
Cost
External Failure
Cost Prevention Cost Appraisal Cost
17 Internal Failure Costs are incurred to
remove product defects during the
___________.
Produstion Before Shipment After Shipment Packing
18 __________ places emphasis on
prevention rather than rectification. Six Sigma TQM Kaizen Quality Circle
19 ____________ is a measure of
product's life. Performance Features Durability Reliability
20
__________ means formation of
small group of employees working
usually in one department of an
industrial unit.
Cost of Quality Quality Circle TQM Quality
Assurance
21
__________ technique enables the
workers to check the quality of items
before they are passed on to the next
operation.
Quality
Assurance SQC
Quality at
source Quality control
22 ISO 9000 stands for ___________. Indian System
Organisation
International
Service
Organisation
Indian Space
Organisation
International
Organisation For
Standards
23 The Six Sigma approach is adopted
through _________ phases. Multiple Single Two Three
24 The full form of CRM is _________. Consumer Rights
Management
Customer
Relationship
Management
Customer
Relation
Manager
Consumer Rights
Manager
25 The first step in the Kaizen process is
__________.
Document current
situation
Visualise the ideal
situation
Define the
problem
Define
measurement
targets
26 NSDL stands for National _________
Depository Limited. Stocks Securities Services Shares
27 _________ guarantees the minimum
subscription of shares. Subscribing Broking Underwriting Transferring
28 _________ market is also known as
inter-bank call money market. Inter money Fixed deposit
Government
deposit Call money
29 ________ are issued by listed
companies.
Commercial
paper
Certificate of
deposit Bill of listing Treasury bills
30 ________ market facilitates trading in
securities on the stock exchange. Commodities Money Primary Secondary
31 ___________ was the first credit
rating agency in India CRISIL ICRA Ltd CARE SEBI
32 ___________ acts as a clearing house
of securities SEBI Stock Exchange RBI SBI
33 ____________ is a pessimistic
Speculator Bull Bear Stag Lame Duck
34 ______________ is an advantage of
credit rating to the investor
Wider audience
for borrowing
Saving of Time
and Effort
Lower cost of
borrowing Corporate Image
35 CRISIL commenced its operations
from ___________ 1st January 1989 1st January 1987 1st January 1988 1st January 1990
36 _______________ facilitate listing of
securities Stock Exchange SEBI
Central
Government RBI
37 _____________ act as an agent of the
buyers and sellers of shares,
debentures and bonds.
Government SEBI SBI Brokers
38 __________ is not a return received
by a mutual fund investor Rent
Dividend
Payments
Capital gain
distribution Increased NAV
39 AMC stands for ____________
Assurance
Management
Company
Alliance
Management
Company
Appliance
Management
Company
Asset
Management
Company
40 ______________ is a limitation of
investing in Mutual Funds
Portoflio
Diversification
Inefficiency of
cash reserves
Low Transaction
Cost Liquidity
41
_______ is an investment vehicle
offered by mutual funds to investors,
allowing them to invest small
amounts periodically instead of
lumpsum
Flexi-Deposit Mutual Fund Life Insurance Systematic
Investment Plan
42 _______ is an example of hard corn sugar wheat crude oil
commodity
43
Under Section _______ of the Income
Tax Act, investment in Equity Linked
Saving Schemes are tax exempted
upto Rs. 1.5 lakh
80D 80C 80E 80CCC
44
A _____ is a financial instrument
whose value is derived from the value
of another asset, which is known as
the underlying
Loan Mutual fund Derivative Systematic
Investment Plan
45 Which of these is not correct for
Micro Finance and Self Help Groups?
Improvement of
Standard of living
Promotion of
Financial
Inclusion
Incremental
Social Welfare
Lack of women
empowerment
46
_______ is a flagship initiative of the
Government of India that aims to
empower Startups to grow through
innovation and design.
Digital India Cashless India Startup India Yuva India
47 Which of these statements is incorrect
for Self Help Groups?
Homogeneous
group of about 15
to 20
Every member to
save small
amounts regularly
Every member
learns
prioritization and
financial
discipline
Members should
be above 65
years of age
48 Which of these is not a function / role
of Self Help Groups? Record keeping
Training of
members
Lending to
members
No requirement
of official
registration
49
_______ is a non-standardized
contract between two parties to buy or
sell an asset at a specified future time
at a price agreed today
Forward Contract Futures Contract Oprions Swap
50 __________ is India‟s first mutual
fund UTI GIC LIC HDFC
1 The function of a government to provide goods that
cannot normally be provided by market mechanisms
between individual customers and producers, is known
as:
a) Distribution function b) Allocation function c) Stabilization d) Protection
2 What among the following is NOT an example of
'public goods'?
a) National defense b) Roads c) Cars d) National Forests
3 The function of a government to fairly share the
public's resources is known as
a) Distribution function b) Allocation function c) Stabilization d) Protection
4 The function of a government by which it seeks to seek
a balance of employment, demand-supply, and
inflation, is known as:
a) Distribution function b) Allocation function c) Stabilization d) Protection
5 Loans raised by the government from the public are
known as:
a) Corporate borrowings Common borrowings Market borrowings Private borrowings
6 The deliberate action of the government to stabilize the
economy, as opposed to the inherent automatic
stabilizing properties of the fiscal system, is known as
Forced fiscal policy Manual fiscal policy Discretionary fiscal policy Automatic fiscal policy
7 Principle of sound finance refers to
_________________.
Maximum Government
spending
Minimum Government
spending
Revenue expenditure
balanced at the minimum
level
Balance between Tax
and spending
8 The theory of fiscal policy derives from Principle of sound
finance
N.I. analysis Welfare economics Functional Finance
Principle
9 The principle of judging fiscal measures by the way
they work is called
Personal Finance Public Finance Functional Finance Local Finance
10 Private goods are characterized by _______________. Application of exclusion
principle
Nonrivalrous in
consumption
Payment of Tax Non-Excludability
11 Barriers of entry will make market ________ efficient
and ______ productive.
less; less less; more more; less more; more
12 Market failure arises whenever firms
______________.
make a loss replace machines with
workers
create externalities reduce expenditure on
research and
development
13 Market failure results in a misallocation of resources.
In some cases, this can be corrected by the government
restricting the
manufacture of goods
that generate positive
externalities
Providing public goods subsidising all loss-
making firms
placing a tax on merit
goods
14 A market failure is best described as
________________.
The idea that market
forces of supply and
demand always provide
the maximum benefit
for society
The idea that market
forces of supply and
demand do not always
provide the maximum
benefit for society
The concept that a
decision made by one
party can have negative
effects on another party
The concept that a
decision made by one
party can have positive
effects on another party
15 What is the underlying mechanism which explains why
a good does not become a private one?
Tragedy of the
Commons
Negative Externalities Positive Externalities Free Rider Problem
16 What is an example of a negative consumption
externality?
Increased standards of
education in schools
Increased research and
development into
cancer prevention
Health impacts for society
of passive tobacco
smoking
Environmental Pollution
17 "Assistance by the government to individuals or groups
or individuals, such as firms, consumers, industries or
sectors of an economy" Is the definition for
Excise Taxes Ad Valorem Taxes Indirect Taxes Subsidies
18 Public Finance is related with the income and
_____________ of Public Government.
Consumption Distribution Debt Expenditure
19 Under what condition is allocative efficiency
achieved?
Marginal private
benefits = marginal
social costs
Marginal social benefits
= marginal social costs
Marginal private benefits
> marginal social costs
Marginal social benefits
> marginal social costs
20 The principal of public finance is also called the
principal of
Maximum Social
Sacrifice
Minimum Social
Benefit
Minimum Social Sacrifice Maximum Social Benefit
21 Which of the following is not the characteristics of a
tax?
(a) compulsory payment (b) There is quid -pro-
quo
(c) Involves somesacrifice (d) Optional payment
22 Which of the following is not a non tax revenue? (a) custom duty (b) Fees (c) Penalities (d) Borrowings
23 Which of the following is not canons of taxation? (a) canon of equity (b) canon of certainty (c) canon of benefit (d) canon of elasticity
24 Which of the following is the tax rates? (a) Proporional,
progressive ,Regressive
taxation
(b) Only progressive (c) only proportional (d) only regressive
25 A degressive taxation is one in which the tax rate
increases at a diminishing rate with-
(a) The increase in tax
base
(b) The decrease in tax
base
(c) Constant tax rate (d) only increase in
income
26 A regressive tax is one in which the rate falls as
income
(a) increases (b) decreases (c) remains constant (d) is zero
27 The progressive tax is one under which tax rate goes
on increasing with
(a) increase in income (b) decrease in income (c) with zero income (d) with constant income
28 Proportional taxation is one which falls at ---- (a) same rate on all the
income
(b) Falls with rise in
income
(c) Remain constant (d) Rises with rise in
income
29 Goods and Services Tax GST was launched in India on (a) June 30th 2017 (b) July 30th 2017 (c) 28th June 2017 (d) 28th July 2017
30 GST came into effect on (a) 1st July 2017 (b) 10th July 2018 (c)2 nd July 2017 (d) 3rd July 2017
31 GST eliminatesand subsumes the previous -------
central and state indirect taxes
(a) 17 (b) 18 (c) 19 (d) 10
32 GST eliminatesand subsumes the previous 17 central
and state indirect taxes and ---- cesses.
(a) 23 (b) 24 (c) 25 (d) 10
33 GST eliminatesand subsumes the previous central and
state ----- taxes
(a) Indirect (b) Direct (c) wealth (d) property
34 Indirect taxes can bring about ------ trends in the
economy
(a) Inflationary (b) Deflationary (c) No change (d) money
35 while incurring public expenditure, the government
must avoid wasteful and unnecessary expenditure. This
is describes the canon of ________
surplus productivity economy sanction
36 According to principles of sound finance, expenditure
on________ is non-essential and should be kept to the
minimum.
infrastructure defence industry social welfare
37 According to the canon of ______ deficits in
government budget should be avoided.
surplus Productivity economy sanction
38 According to the canon of______ public expenditure
should result in maximum social advantage
neutrality benefit productivity surplus
39 It should be possible for the government to use funds
from less essential uses to meet current contingencies,
This statement applies to
canon of benefit canon of elasticity canon of surplus canon of sanction
40 The government has to take care that the effects of
public expenditure does not result in negative effects
on the economy and society. This statement applies to
canon of benefit canon of productivity canon of neutrality canon of sanction
41 Which of the following canons of public expenditure is
very difficult
to implement in developing countries?
Canon of benefit Canon of elasticity Canon of surplus Canon of sanction
42 Which of the following types of public expenditure i is
characterized
by quid-pro-quo?
Grant Interest Subsidy Purchase prices
43 Which of the following is not a characteristic of capital
expenditures?
They are used for
consumption
They create capital
assets
They are usually funded
through public debt
They are in the form of
investments
44 Expenditure on education is an example of expenditure
that confers _____
Special benefits to all Common benefits to all Direct Special benefits to
certain people
Common benefits to
certain people
45 An annual statement of the estimated receipts and
expenditure of the government over the fiscal year is
known as
Budget Income estimates Account Expenditure
46 Who presents Budget in Parliament? Prime Minister Finance minister Home Minister Railway Minister
47 _______ plan serving as a pattern for and a control
over future operations is known as budget.
Operational Financial Functional Standard
48 _________ control is the most useful technique in
implementing the objectives of the company with
minimum possible cost and maximum possible
efficiency.
Budgetary Inventory Capability Operational
49 ________ , co-ordination and control are three basis
aspects concerned with budgetary control.
Centralizing De-centralizing Planning Alloting
50 _________ is a section of the organisation of an
undertaking defined for the purpose of budgetary
control.
Cost centre Budget centre Cost Unit Policy
SYBCOM Sem IV Computer Programming
1. Which organization discusses the technical and operational problems on Internet?
a. UNO
b. ITU
c. InterNIC
d. IETF
2. The OSI model consists of how many layers?
a. 4
b. 5
c. 6
d. 7
3. The -----layer is the lowest layer of the OSI model:
a. Physical
b. Transport
c. Session
d. Network
4. If data arrives out of order or too early at the receiving end, which layer of the OSI model will attempt to correct it?
a. Transport
b. Physical
c. Session
d. Data link
5. The -----layer is the lowest layer of the OSI model:
a. Physical
b. Transport
c. Session
d. Network
6. If data arrives out of order or too early at the receiving end, which layer of the OSI model will attempt to correct it?
a. Transport
b. Physical
c. Session
d. Data link
7. The full form of the acronym IMAP is
a. Internet Mail Access Protocol
b. Intranet Mail Access Protocol
c. Internet Message Access Protocol
d. Internet Mail Availability Protocol
8. Which protocols are used for sending email?
a. SMTP and POP3
b. SMTP and MIME
c. MIME and IMAP
d. POP3 and IMAP
9. _______ is used for mapping host names onto their network addresses
a. TCP
b. FTP
c. SMTP
d. DNS
10. A search engine is a program to search
a. For information
b. Web pages
c. Web pages that match a query
d. Web pages for specified index terms
11. Which of these is a web browser
a. Microsoft Word
b. Adobe Dreamweaver
c. Chrome
d. Notepad
12. A ______ is a computer program that browses WWW and collects information.
a. Web Crawlers
b. Internet
c. Intranet
d. Browser
13. ______ is also called pull protocol
a. POP3
b. FTP
c. MIME
d. SMTP
14. Processed data is called as____
a. Knowledge
b. Data
c. Information
d. DBMS
15. The database and DBMS software together is called as____ system
a. program
b. database
c. table
d. model
16. In a relational database the columns in the table are called
a. Attributes
b. Entities
c. Instance
d. Columns
17. A collection of data that is related in some way is called
a. Data
b. DBMS
c. Columns
d. Database
18. _____ contain current as well as old historical data of the organization
a. Datawarehouses
b. Cloud Databses
c. External Databses
d. Operational Databses
19. Relational database concept was introduced by
a. FE Mark
b. ET Bond
c. EG Nodd
d. EF Codd
20. _____ are the items about which information is stored in a database.
a. Tuple
b. Entities
c. Join
d. fields
21. Management system is a collection of _____ that enables thr user to work on database.
a. Programs
b. data
c. sources
d. methods
22. A _____ is a connection between two tables with a common column where the data from them is merged creating a new virtual table
a. Merge
b. Connect
c. Contact
d. Join
23. A _____ language is used primarily for data manipulation and processing.
a. DDL
b. DCL
c. DML
d. DPL
24. A collection of data and related programs is called
a. Records
b. Columns
c. Database
d. DBMS
25. The default destination for access database is
a. My Computer
b. My Database
c. My Document
d. Microsoft website
26. Relational database concept was introduced by E. F _____
a. Modd
b. Dodd
c. Todd
d. Codd
27. Microsoft access 2007 is an application for processing
a. Image
b. Number
c. Databases
d. Documents
28. Access 2007 database cannot contain which objects:
a. Table
b. Forms
c. Queries
d. Mail merge
29. Which of these objects is a front end to an Access database ?
a. Table
b. Forms
c. Query
d. Report
30. The default destination for Access databases is
a. My Computer
b. My Databases
c. My Documents
d. Microsoft Website
31. The option to create a form are found in which of these tabs ?
a. Home
b. Create
c. Forms
d. Database Tools
32. The option to import data from an Excel spredsheet is found in which of these tabs?
a. Home
b. Create
c. External Data
d. Database Tools
33. To add or delete columns in a table, which of these tabs is used ?
a. Create
b. External Data
c. Databases
d. Database Tools
34. Which of the following is not a database object ?
a. Table
b. Query
c. Relationship
d. Reports
35. Which of the following database object produces the final output of queries
a. Table
b. Queries
c. Forms
d. Reports
36. Two Table can be Linked with relationships. Where can you find the relationship commad?
a. File menu
b. View menu
c. Database menu
d. Tools menu
37. Which of these contains pre-made table for common database application?
a. Design View
b. DataSheet View
c. Template View
d. Layout view
38. What are the different views in which table can be displayed?
a. Design and DataSheet View
b. Layout and Design View
c. Pivot Table and Layout View
d. Datasheet and layout view
39. The Search tool CANNOT be used on which major Access object?
a. Forms
b. Queries
c. Reports
d. Tables
40. In a table, (s) are displayed in the order in which they were entered. Most often this order is not useful.
a. formula
b. format
c. layout
d. record
41. The is a wild card that represents one or more characters.
a. question mark
b. asterisk
c. exclamation mark
d. dollar sign
42. Which is not an option for Filter on a text field?
a. Begins With
b. Between
c. Contains
d. End With
43. The Search tool is best used when searching for data.
a. simple
b. multiple
c. unique
d. formatted
44. Which of the following Find and Replace dialog box options finds records in which
the beginning of a field matches the Find What entry?
a. Match Case
b. Match: Whole Field
c. Match: Start of Field
d. Match: Any Part of Field
45. Which of the following functions CANNOT be used in the Totals row?
a. Average
b. Count
c. Maximum
d. Round
46. Before printing a datasheet, you can use to determine whether to change the
page orientation from portrait to vertical orientation.
a. Design View
b. Datasheet View
c. Office View
d. Print Preview
47. What is the keyboard shortcut to move to the last records in a table?
a. [Tab]
b. [Shift]+[Tab]
c. [Ctrl]+Home]
d. [Ctrl]+[End]
48. A is a major database object used to display information in an attractive, easy-to-read screen format.
a. form
b. query
c. report
d. table
49. Print options can be changed in the Print .
a. tab
b. layout mode
c. setup routine
d. dialog box
50. Which major database object stores all data?
a. Field
b. Query
c. Record
d. Table
Foundation course
1
____________ is the right that gives an opportunity to consumers to register their
complaints and grievances relating to products which they use.
A Right to chose
B Right to be heard
C Right to consumer education
D Right to safety
2
__________ is the right that enables the consumer to get compensation, if has suffered
loss or is put to inconvenience due to fault of supplier or manufacturer.
A Right to consumer education
B Right to redress
C Right to be heard
D Right to safety
3
Increased use of chemical fertilizers and pesticides in farms, our food supply is becoming
increasingly contaminated is example of violation of ____________ right of consumer.
A Right to information
B Right to safety
C Right to redress
D Right to consumer education
4
When manufacturers use selective information to promote their products, it is violation of
____________ right of consumer
A Right to information
B Right to safety
C Right to redress
D Right to consumer education
5 Indian Contract Act was passed in the year ____________.
A 1872
B 1882
C 1892
D 1862
6 The prevention of food adulteration act was passed in the year ________.
A 1956
B 1955
C 1954
D 1953
7
State Commission deals with complaints where the value of goods/services and
compensation, if any, claimed __________
A does not exceed Rs. 20 lakhs
B exceeds Rs. 20 lakhs but does not exceed Rs. 1 crore
C exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore
D exceeds Rs. 1 crore
8
National Commission deals with complaints where the value of goods/services and
compensation, if any, claimed __________
A does not exceed Rs. 20 lakhs
B exceeds Rs. 20 lakhs but does not exceed Rs. 1 crore
C exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore
D exceeds Rs. 1 crore
9
Appeal against the order of the district forum can be made to _________ within a period
of 30 days
A state commission
B national commission
C supreme court
D high court
10
appeal against the order of the district forum can be made to state commission within a
period of ___________ days
A 45
B 60
C 30
D 20
11
__________ is a social movement of consumers that comes into existence to educate and
unite consumers to fight for protection of their rights.
A Consumer awareness
B Consumer movement
C Customer protection movement
D Customer awareness movement
12 ____________ is not an objective of RTI Act.
A Greater transparency
B Informed citizenry
C Increase in corruption
D Improvement in accountability.
13 The term Ecology was coined by German biologist
A Ernst Haeckal
B Angela Merkel
C Ernst Borges
D Boris Merkel
14
_____refers to comprehensive science of the relationship of the organism with the
environment.
A Botany
B Ecology
C Environmental relationship
D Organic science
15
_____Ecology studies the flows of energy and matter through the biotic and abiotic
components of the ecosystems
A Systems
B Political
C Ecosystem
D Landscape
16
_____Ecology is the study of the relationships between Political , economic and social
factors with environmental issues and changes.
A Environmental
B Social
C Economic
D Political
17 Population Ecology studies the dynamics of population of a ______species.
A Single
B Human
C Several
D Animal
18
Community Ecology focuses on the interactions between species with an ______
community
A Social
B Ecological
C Economic
D Environmental
19
_________Ecology examines processes and relationship across multiple ecosystems or
very large Geographic areas.
A Geographic
B Evolutionary
C Landscape
D Population
20
_______ecology studies ecology in a way that explicitly considers the evolutionary
histories of species and their interactions.
A Ecosystem
B Community
C Historical
D Evolutionary
21
_______is an environmental ethics which views that the Earth and its resources exist for
human use.
A Biocentrism
B Anthropocentrism
C Ecocentrism
D Ecofeminism
22 _______is a life centered approach views animals as important living beings.
A Anthropocentrism
B Ecofeminism
C Biocentrism
D Ecocentrism
23 _____grants moral standing to all living beings.
A Biocentrism
B Anthropocentrism
C Ecocentrism
D Ecofeminism
24 _____________ is a nature centred approach.
A Anthropocentrism
B Biocentrism
C Eco-feminism
D Ecocentrism
25
The first working laser was demonstrated in ___________ by Theodore Maiman at
Hughes Research Laboratories.
A 1950
B 1960
C 1970
D 1980
26 Distances can be measured accurately using ___________.
A Laser light
B Nanotechnology
C Biotechnology
D Information and communication technology
27 ____________ is used in eye surgery.
A Nanotechnology
B Biotechnology
C Laser technology
D Satellite technology
28
A _____________ refers to any body that moves around another one in a mathematically
predictable path called an orbit.
A Laser
B Satellite
C Genetic modification
D Optical fibers
29
In india, ___________ is responsible for research, development and operations of space
systems in the areas of satellite communications, remote sensing for resources, etc.
A Indian Research Organisation.
B Indian satellite organisation
C Indian Space Research Organisation
D Indian Satellite Research Organisation
30 ______________ helps in navigation.
A Satellite technology
B Biotechnology
C Laser technology
D Nanotechnology
31
___________ is the science and practice of transmitting information by electromagnetic
means.
A Radiography
B Laser
C Telecommunication
D Biotechnology
32
_________________ is the process by which existing technologies merge into new forms
that bring together different types of media and applications
A Technological modification
B Technological mutation
C Technological convergence
D Technological engineering
33
_____________ is the study of how the genetic inheritance of an individual affects
his/her body‟s response to drugs.
A Pharmacology
B Genomics
C Pharmacogenomics
D Gene therapy
34 One nanometer is ____________ of a meter.
A One millionth
B One tenth
C One hundredth
D One billionth
35 The flat panel television or computer monitors are products of ________________.
A Biotechnology
B Gene therapy
C Nanotechnology
D Satellite technology
36
____________ are programs that attach themselves to a computer or a file and then
circulate themselves other files and affect the data by altering it or deleting it.
A Virus
B Email spoofing
C Email bombing
D Cyber bullying
37
Providing safe and permanent jobs helps in satisfying the ______________ needs as per
Maslow‟s Hierarchy theory
A Physiological needs
B Social needs
C Esteem needs
D Safety and security needs
38 There are ____________ sets of needs as per Maslow‟s theory of motivation
A 4
B 5
C 6
D 7
39
Cultural and sport activities help satisfy __________ needs as per Maslow‟s need
Hierarchy theory.
A Physiological needs
B Social needs
C Esteem needs
D Safety and security needs
40
„Appreciation from superiors‟ help satisfy ______________ needs as per Maslow‟s need
hierarchy theory.
A Physiological needs
B Social needs
C Esteem needs
D Safety and security needs
41
____________ needs lie at the highest level of the hierarchy of needs in Maslow‟s theory
of motivation.
A Physiological needs
B Self-actualisation needs
C Esteem needs
D Safety and security needs
42 In ERG theory developed by Clayton ERG stands for ____________.
A Existences, roles and growth
B Existence, relatedness and growth
C Experiment, relatedness and growth
D Experiment, roles and growth
43
__________- is an example of job dissatisfaction factor as per Herzberg‟s two factor
theory
A Salaries and wages
B Challenging tasks
C Appreciation and recognition
D Career development
44
____________ is an example of job motivation factor as per Herzberg‟s two factor
theory.
A Salaries and wages
B Working conditions
C Career development
D Job security
45 As per McGregor, ____________ is the traditional approach of managing people.
A Theory Y
B Theory Z
C Theory X
D Theory W
46
____________ motivation refers to motivation that is drives by the an interest or
enjoyment in the task itself.
A Internal
B External
C Extrinsic
D Outside
47 „Goals must be SMART‟. Here the acronym „SMART‟ stands for _____________.
A Superior, measurable, achievable, realistic, time bound
B Specific, measurable, artistic, realistic, time bound
C Specific, measurable, achievable, realistic, time bound
D Specific, monetary, artistic, realistic, time bound
48 _____________ goals are for period less than 1 year.
A Long term
B Medium term
C Mid term
D Short term
49 _____________ goals are for period ranging from 1 year to 3 years
A Long term
B Liquid term
C Medium term
D Short term
50 GRE stand for _________
A General record Examination
B Graduate record Examination
C Graduate research Examination
D General research Examination
Business Law
1. The Partnership Act came into force on______.
a. 1933
b. 1923
c. 1872
d. 1932
2. What is the object of partnership?
a. Loss
b. Profit
c. Charity
d. Maintaining culture
3. Property of partnership firm includes __________.
a. Goodwill
b. Name
c. Reputation
d. Patent
4. The real test of partnership is_____________.
a. Profit sharing
b. Business
c. Mutual Agency
d. Agency
5. Lien is____________of the partner.
a. Liability
b. powers
c. Right
d. Duty
6. Every partner is ____________of the other partners.
a) owner
b) servant
c) an agent
d) principal
7. partnership Firm has ____________.
a) no legal existence
b) legal existence
c) perpetual succession
d) no legal existence,apart from it‟s partners
8. Liability of the partners in partnership is ____________.
a) joint
b) joint & several
c) several
d) limited
9. Registration of partnership in Maharashtra is ____________.
a) optional
b) compulsory
c) voluntary
d) five yearly
10. Karta of a Joint Hindu Family firm has ____________liability.
a) unlimited
b) limited
c) flexible
d) selective
11. The maximum number of partners in a firm carrying a Banking business
can not exceed ____________.
a) 5
b) 10
c) 15
d) 25
12. The maximum number of partners in a firm carrying any other business
than banking business can not exceed ____________.
a) 10
b) 15
c) 20
d) 25
13.The position of minor in partnership is given in_______ of The partnership Act,1932 .
a)Section 20
b)Section 25
c) Section 30
d) Section 32
14. A nominal partner is liable ____________.
a) for nominal sum of money
b) five lakh rupees
c) ten lakh rupees
d) for the debts of the firm
15. No public notice is to be given in case of ____________.
a) minor attaining majority
b) retirement of a partner
c) resignation of partner
d) death of a partner
16.New partner can be admitted in the firm_______________.
a) with the consent of existing partner
b)without the consent of existing partner
c)with the consent of Directors
d)with the consent of senior partners
17. Goodwill of a business is ____________property.
a) public
b) individual
c) not partnership
d) a partnership
18. _____________ is for a fixed period.
a) particular partnership
b) Partnership at will
c) Limited partnership
d) General Partnership
19. Agreement in partnership is for distribution of ____________.
a) profit
b) loss
c) goods
d) services
20. Partnership written Agreement is known as ____________.
a) partnership contract
b) memorandum
c) Partnership Deed
d) articles
21. In partnership,partners liabilities are ____________.
a) unlimited
b) limited
c) flexible
d) five yearly
22. Interest on drawings is __________to partner‟scurrent account.
a) debited
b) credited
c) not shown
d) sometimes shown
23. What is not a feature of a partnership business?_________________.
a) Easy formation
b) Limited liability
c) Limited life
d) Mutual agency
24. After the dissolution of the firm,Goodwill of the firm ____________.
a) can‟t do anything
b) can not be sold
c) can be sold
d) can be changed
25.Minimum number of partners to form partnership is_________.
a) two
b) three
c) five
d) seven
26. Definition of word “Business” as per The partnership Act,1932 includes _______.
a) every trade
b) every occupation
c) every profession
d) all the above a),b) & c)
27. Dissolution of Firm means______________.
a) Dissolution of partnership among all the partners
b) Dissolution of Trust
c) Revocation of firm
d) Registration of Firm
28. Partnership Firm can be dissolved ______________.
a) due to Death of partners
b) when dispute arise
c) with the consent of all the partners
d) by court
29. Implied authority of partner is___________.
a) to sign the cheque
b) to create new firm
c) to dissolve the firm
d) to use Goodwill
30. Can partnership firm be dissolved by court?,___________.
a) No
b) No provision in law
c) Yes
d) Never
31. A partner can not transfer his interest without_________.
a) evidence
b) deed
c) legal proof
d) consent
32. Compulsory dissolution by order of court may take place in case of _________.
a) insanity of a partner
b) persistant breach of trust
c) transfer of interest
d) all of the above
33.Members of Hindu Undivided Family carry on the business____________.
a) is a partnership
b) is a company
c) is a firm
d) is not a partnership
34.Interest on capital of partner will be payable ____________.
a) only out of profits
b) out of loss
c) out of reserves
d) out of capital
35.Where a partner has become of unsound mind,the court may ____________.
a) not dissolve the firm
b) order the firm to continue the business
c) dissolve the firm on petition of any partner
d) give order to form a new firm
36.A partner is entitled to ______Interest on capital contributed by him.
a) 5%
b) 6%
c) 8%
d) 10%
37.A retiring partner __________a public notice of his retirement.
a)need to give
b)need not give
c)sometimes give
d) optionally give
38.An unregistered firm _____sue a third party to enforce a right arising from a contract.
a) can
b) can not
c) sometimes
d) preferably
39.A co-owner is ________the agent of the other co-owner.
a) not
b) once
c) sometimes
d) occasionally
40.A partnership ________the extension of law of agency.
a) is not
b) is
c) is sometimes
d) is occasionally
41. LLP is a ________.
a) Body corporate
b) Voluntary organisation
c) Association of person
d) Hindu undivided family
42. Every LLP should have at least ________designated partners.
a) 4
b) 3
c) 2
d) 7
43. Minimum number of persons for forming LLP are_____.
a) 3
b) 2
c) 4
d) 7
44. LLP shall be a ________.
a) Legal entity
b) perpetual succession
c) Association of person
d) Body corporate
45. LLP is not dissolved by_______.
a) death of a partner
b) retirement of a partner
c) resignation of a partner
d) all the above a),b) & C)
46. Limited liability partnerships were introduced by _______.
a) The partnership Act,1932
b) The companies Act,2013
c) Limited liability partnership Act,2008
d) Limited liability Act,2000
47. A partner is required to make contribution in LLP as per _______.
a) their partnership agreement
b) partner‟s own option
c) Memorandum of Association
d) compulsion for partners
48. LLP is incorporated at _______.
a) the Registrar of Firm office
b) the ROC office
c) BMC office
d) IPR office
49. Liability of partner in LLP is_______.
a) Unlimited
b) limited
c) for his wrong acts
d) as per his guarantee given
50.Partner in LLP can _______.
a) give loan to LLP
b) enter into business with LLP
c) not enter into business with LLP
d) b & c above
Busines Economics Question Option A Option B Option C Option D
1
The function of a government to provide goods that
cannot normally be provided by market mechanisms
between individual customers and producers, is known
as:
a) Distribution
function
b) Allocation
function c) Stabilization d) Protection
2 What among the following is NOT an example of
'public goods'?
a) National
defense b) Roads c) Cars
d) National
Forests
3 The function of a government to fairly share the public's
resources is known as
a) Distribution
function
b) Allocation
function c) Stabilization d) Protection
4
The function of a government by which it seeks to seek
a balance of employment, demand-supply, and
inflation, is known as:
a) Distribution
function
b) Allocation
function c) Stabilization d) Protection
5 Loans raised by the government from the public are
known as:
a) Corporate
borrowings
Common
borrowings
Market
borrowings
Private
borrowings
6
The deliberate action of the government to stabilize the
economy, as opposed to the inherent automatic
stabilizing properties of the fiscal system, is known as
Forced fiscal
policy
Manual fiscal
policy
Discretionary
fiscal policy
Automatic
fiscal policy
7 Principle of sound finance refers to
_________________.
Maximum
Government
spending
Minimum
Government
spending
Revenue
expenditure
balanced at the
minimum level
Balance
between Tax
and spending
8 The theory of fiscal policy derives from Principle of sound
finance N.I. analysis
Welfare
economics
Functional
Finance
Principle
9 The principle of judging fiscal measures by the way
they work is called Personal Finance Public Finance
Functional
Finance Local Finance
10 Private goods are characterized by _______________. Application of
exclusion principle
Nonrivalrous in
consumption Payment of Tax
Non-
Excludability
11 Barriers of entry will make market ________ efficient
and ______ productive. less; less less; more more; less more; more
12 Market failure arises whenever firms ______________. make a loss
replace
machines with
workers
create
externalities
reduce
expenditure
on research
and
development
13 Market failure results in a misallocation of resources. In
some cases, this can be corrected by the government
restricting the
manufacture of
goods that
generate positive
externalities
Providing public
goods
subsidising all
loss-making
firms
placing a tax
on merit
goods
14 A market failure is best described as
________________.
The idea that
market forces of
supply and
demand always
provide the
maximum benefit
for society
The idea that
market forces of
supply and
demand do not
always provide
the maximum
benefit for
society
The concept that
a decision made
by one party can
have negative
effects on
another party
The concept
that a decision
made by one
party can have
positive
effects on
another party
15 What is the underlying mechanism which explains why
a good does not become a private one?
Tragedy of the
Commons
Negative
Externalities
Positive
Externalities
Free Rider
Problem
16 What is an example of a negative consumption
externality?
Increased
standards of
education in
schools
Increased
research and
development
into cancer
prevention
Health impacts
for society of
passive tobacco
smoking
Environmental
Pollution
17
"Assistance by the government to individuals or groups
or individuals, such as firms, consumers, industries or
sectors of an economy" Is the definition for
Excise Taxes Ad Valorem
Taxes Indirect Taxes Subsidies
18 Public Finance is related with the income and
_____________ of Public Government. Consumption Distribution Debt Expenditure
19 Under what condition is allocative efficiency achieved?
Marginal private
benefits =
marginal social
costs
Marginal social
benefits =
marginal social
costs
Marginal private
benefits >
marginal social
costs
Marginal
social benefits
> marginal
social costs
20 The principal of public finance is also called the
principal of
Maximum Social
Sacrifice
Minimum Social
Benefit
Minimum Social
Sacrifice
Maximum
Social Benefit
21 Which of the following is not the characteristics of a
tax?
(a) compulsory
payment
(b) There is
quid -pro- quo
(c) Involves
somesacrifice
(d) Optional
payment
22 Which of the following is not a non tax revenue? (a) custom duty (b) Fees (c) Penalities (d)
Borrowings
23 Which of the following is not canons of taxation? (a) canon of equity (b) canon of
certainty
(c) canon of
benefit
(d) canon of
elasticity
24 Which of the following is the tax rates?
(a) Proporional,
progressive
,Regressive
taxation
(b) Only
progressive
(c) only
proportional
(d) only
regressive
25 A degressive taxation is one in which the tax rate
increases at a diminishing rate with-
(a) The increase in
tax base
(b) The decrease
in tax base
(c) Constant tax
rate
(d) only
increase in
income
26 A regressive tax is one in which the rate falls as income (a) increases (b) decreases (c) remains
constant (d) is zero
27 The progressive tax is one under which tax rate goes on
increasing with
(a) increase in
income
(b) decrease in
income
(c) with zero
income
(d) with
constant
income
28 Proportional taxation is one which falls at ----
(a) same rate on all
the income
(b) Falls with
rise in income
(c) Remain
constant
(d) Rises with
rise in income
29 Goods and Services Tax GST was launched in India on (a) June 30th 2017 (b) July 30th
2017
(c) 28th June
2017
(d) 28th July
2017
30 GST came into effect on (a) 1st July 2017 (b) 10th July (c)2 nd July (d) 3rd July
2018 2017 2017
31 GST eliminatesand subsumes the previous -------central
and state indirect taxes (a) 17 (b) 18 (c) 19 (d) 10
32 GST eliminatesand subsumes the previous 17 central
and state indirect taxes and ---- cesses. (a) 23 (b) 24 (c) 25 (d) 10
33 GST eliminatesand subsumes the previous central and
state ----- taxes (a) Indirect (b) Direct (c) wealth (d) property
34 Indirect taxes can bring about ------ trends in the
economy (a) Inflationary (b) Deflationary (c) No change (d) money
35
while incurring public expenditure, the government
must avoid wasteful and unnecessary expenditure. This
is describes the canon of ________
surplus productivity economy sanction
36
According to principles of sound finance, expenditure
on________ is non-essential and should be kept to the
minimum.
infrastructure defence industry social welfare
37 According to the canon of ______ deficits in
government budget should be avoided. surplus Productivity economy sanction
38 According to the canon of______ public expenditure
should result in maximum social advantage neutrality benefit productivity surplus
39
It should be possible for the government to use funds
from less essential uses to meet current contingencies,
This statement applies to
canon of benefit canon of
elasticity canon of surplus
canon of
sanction
40
The government has to take care that the effects of
public expenditure does not result in negative effects on
the economy and society. This statement applies to
canon of benefit canon of
productivity
canon of
neutrality
canon of
sanction
41
Which of the following canons of public expenditure is
very difficult
to implement in developing countries?
Canon of benefit Canon of
elasticity Canon of surplus
Canon of
sanction
42
Which of the following types of public expenditure i is
characterized
by quid-pro-quo?
Grant Interest Subsidy Purchase
prices
43 Which of the following is not a characteristic of capital
expenditures?
They are used for
consumption
They create
capital assets
They are usually
funded through
public debt
They are in
the form of
investments
44 Expenditure on education is an example of expenditure
that confers _____
Special benefits to
all
Common
benefits to all
Direct Special
benefits to
certain people
Common
benefits to
certain people
45
An annual statement of the estimated receipts and
expenditure of the government over the fiscal year is
known as
Budget Income
estimates Account Expenditure
46 Who presents Budget in Parliament? Prime Minister Finance minister Home Minister Railway
Minister
47 _______ plan serving as a pattern for and a control over
future operations is known as budget. Operational Financial Functional Standard
48
_________ control is the most useful technique in
implementing the objectives of the company with
minimum possible cost and maximum possible
efficiency.
Budgetary Inventory Capability Operational
49 ________ , co-ordination and control are three basis
aspects concerned with budgetary control. Centralizing De-centralizing Planning Alloting
50
_________ is a section of the organisation of an
undertaking defined for the purpose of budgetary
control.
Cost centre Budget centre Cost Unit Policy