Solved Paper Superintendent (Divisional Accounts) 2019 [Part-3]- HPSSC Hamirpur

111. Naik Committee was setup for

1. SSI restrueturing
2. SSI T echnology Upgradation
3. Both a and b
4. SSI Financing

112. The legislation dealing with black money is

1. FEMA
2. Money laundering
3. Both a and b
4. None of these

113. Environment Protection Act was passed in

1. 1985
2. 1984
3. 1986
4. 1987

114. ISO-9000 series of International Quality Standard were first published in

1. 1990
2. 1989
3. 1988
4. 1987

115. Turnover rations give an idea about

1. Sales
2. Utilization of Assets
3. Utilization of Stock
4. Payment of Liability

116. Cheque received but not deposited on the same day is recorded in triple column cash book in

1. Cash
2. Bank
3. Discount
4. Both a and b

117. The requirements relating to the B/S of a company are given in

1. Part 1 of Schedule V
2. Part 2 of Schedule VI
3. Part 1 of Schedule VI
4. None of these

118. The reciprocal of the price earning ratio is

1. Earning yield ratio
2. Earning price ratio
3. Earning per share
4. None of these

119. Sale of inventory on account will cause the inventory ratio to

1. Be constant
2. Increase
3. Decrease
4. Remained unchanged

120. A and B are partners sharing profit in the ratio 7:3. C was admitted on 3/7 shares of profits. The new profit sharing ration will be

1. 14:6:15
2. 12:8:7
3. 15:15:8
4. 14:11:15

121. Zero-based budgeting was introduced in the U.S.A by

1. Jimmy Carter
2. Ronald Reagon
3. Richard Nixon
4. Abraham Lincoln

122. A debt written off as bad on subsequent recovery would constitute a

1. Loss
2. Loss averted
3. Profit
4. Bonus

123. Cost reduction is achieved through

1. Value analysis
2. Inventory control
3. Production, Planning & Control
4. All of these

124. Standard costing works on the principle of

1. Cost
2. Span of management
3. Exception
4. All of these

125. Which is the best form of Goodwill?

1. Rat Goodwill
2. Cat Goodwill
3. Rabbit Goodwill
4. Dog Goodwill

126. Calculate total sales when

Cash Sales: Rs 20,000, Cash Received from Debtors: Rs 80,000, Discount Allowed : Rs 4,000, Opening Balance of New Debtors: Rs 24,000, Closing Balance of Debtors : Rs 6,000, B/R Accepted from Debtors : 6,000

1. 84,000
2. 1,20,000
3. 10,400
4. 26,000

127. ‘Garner V/s. Murray’’ Rule is applicable in case of

1. Admission of Partner
2. Death of Partner
3. Dissolution of firm
4. Insolvency of the partner

128. Depreciation under the diminishing balance method on a machinery of Rs 20,000 at the rate of 10% p.a., during three years will be

1. 14000
2. 14580
3. 5420
4. None of these

129. The cost, volume and profit relationship is described by the equation Y=30,000+0.7X, in which X is sale revenue and Y is the total cost. The B.E.P. will be

1. 10,00,000
2. 12,00,000
3. 9,00,000
4. 8,00,000

130. Actual sales of a firm is Rs 120 lakh, the variable cost amounts to Rs 72 lakh. The firm break evens at Rs 90 lakh. The amount of profit is

1. Rs 9 lakh
2. Rs 12 lakh
3. Rs 15 lakh
4. Cannot be calculated

131. Shareholder Funds/total Assets*100 gives which ratio?

1. Liquidity
2. Profitability
3. Solvency
4. Operating

132. Directions (Q. 132-135):: Choose the answer based on the following information: Stock of Raw Material= Rs 10,000, Stock of Finished Goods = Rs20,000, Cash= Rs 80,000, S. Debtors = Rs 20,000, B/R = Rs. 20,000, S. Creditors = Rs 40,000, Provision for Tax= Rs 10,000, B/P= Rs. 60,000, Outstanding Expenses = Rs 10,000

What is the amount of assets?

1. 1,00,000
2. 8,00,000
3. 1,50,000
4. 1,20,000

133. What is the amount of current liability?

1. 1,00,000
2. 1,80,000
3. 1,50,000
4. 1,20,000

134. What is the amount of Quick Assets?

1. 1,00,000
2. 1,80,000
3. 78,000
4. 90,000

135. What is the amount of stock in Trade?

1. 30,000
2. 80,000
3. 78,000
4. 90,000

136. Fund means

1. Current Assets
2. Current Liability
3. Working Capital
4. None of these

137. The relationship between the normal rate and P.E. Ratio is

1. Inverse
2. Direct
3. Irregular
4. None of these

138. A company is having 40,000 equity shares of Rs. 15 paid. If the dividend per share is Rs. 1 and expected rate of return is 12%, the market value of share will be

1. 12Rs
2. 3Rs
3. 10Rs
4. 5Rs

139. If the share of Rs. 10, on which Rs. 6 have been paid is forfeited it can be re-issued at a minimum price of

1. 7 Rs
2. 6 Rs
3. 10 Rs
4. 4 Rs

140. Realization Account is which type of account?

1. Real
2. Personal
3. Nominal
4. None of these

141. X, Y, Z are partners in the ratio of ½, 2/5, 1/10. New ratio of Y and Z, if X retires will be

1. 13:7
2. 2:1
3. 7:13
4. 4:1

142. Unearned income account is

1. Asset
2. Liability
3. Expense
4. None of these

143. Which of the following always have a Debit Balance?

1. Bank account
2. Bill Receivable
3. Bills Payable
4. Loan Account

144. Depreciation is provided as per the concept of

1. Going concern
2. Dual concept
3. Entity concept
4. Money measurement

145. Decrease in liability at the time of retirement is credited to

1. Liability Account
2. P&L (Adjustment A/c)
3. Realization A/c
4. P&L A/c

146. Which of the following has a period cost?

1. Variable cost
2. Overhead cost
3. Prime cost
4. Fixed cost

147. The Reserve Bank of India is an example of a

1. Registered company
2. Statutory company
3. Chartered company
4. Unlimited company

148. Under which section of the Companies Act, 2013 a private company can convert into the public company?

1. 14
2. 45
3. 54
4. 64

149. Accepting of deposits from the public in case of a private company is

1. Prohibited
2. Restricted
3. Acceptable
4. None of these

150. AGM should be held at

1. Company
2. Registered office
3. Corporate office
4. None of these

151. The underwriting commission paid or agreed to be paid must not exceed

1. 2% of the issue price of shares
2. 5% of the issue price of shares
3. 5% of the issue price of shares
4. 10% of the issue price of shares

152. Contingency school of management is

1. Practice-oriented
2. Principle oriented
3. Result oriented
4. Profit &d Loss oriented

153. Management by exception is to improve

1. Control over personnel
2. Strategic management
3. Steady flow of information
4. High morale

154. In the management principle, grid refers to

1. Diverse managerial styles
2. Co-ordination
3. Communication
4. Motivation

155. ‘3-D’ model of leadership is propounded by

1. Likert Reinsis
2. Kurt Levis
3. William Ridin
4. Henry Fayol

156. Paperless office calls for

1. Minimum record keeping
2. Maximum use of telephones
3. Maximum use of computers
4. Elimination of reporting

157. The purpose of supply chain management is

1. Provide customer satisfaction
2. Improve the quality of a product
3. Integrating supply and demand management
4. Increase production

158. VMI stands for

1. Vendor material inventory
2. Vendor Managed Inventory
3. Variable Material Inventory
4. Valuable Material Inventory

159. PL stands for

1. Three Points Logistics
2. Third Party Logistics
3. Three-Point Location
4. None of these

160. Raw material and WIP can be classified under

1. Indirect material
2. Direct material
3. Finished material
4. Standard parts

161. Business cycle, price trends, national economy are

1. Micro factors
2. Macro factors
3. Controllable factors
4. None of these

162. A contract in which, under the terms of a contract, nothing remains to be done by either party is known as

1. Executed contract
2. Executory contract
3. Unilateral contract
4. None of these

163. An implied contract is one which comes into existence on account of

1. Conduct of parties
2. None-availability of a paper for writing
3. The inability of parties to write or speak
4. Direction is given by the court

164. According to enforceability, the contracts may be classified as

1. Valid contracts
2. Void contracts
3. Voidable contracts
4. All of these

165. All illegal agreements are void, but all void agreements are not illegal. This statement is

1. True
2. Partly true
3. False
4. None of these

166. A appoints B as his agent, by way of a power of attorney. This is an example of

1. Expressed contract
2. Implied contract
3. Tacit contract
4. Unlawful contract

167. Which of the following is forbidden by law?

1. Valid contract
2. Illegal agreement
3. Voidable contract
4. Unenforceable contract

168. The sale of Goods Act, 1930 contains

1. 66 Sections
2. 68 Sections
3. 70 Sections
4. None of these

169. The voluntary transfer of possession from one person to another is called?

1. Transfer
2. Change of possession
3. Delivery
4. None of these

170. The president of the District forum is appointed as the …………. Of the forum.

1. Member
2. Chairman
3. State-member
4. Secretary

Read the previous parts: ॥ Part-1 ॥ Part-2 ॥