KVS 2017 – Question Paper Bifurcation
Total No. of Total : 100
| Subjects | Part of Subjects | No of Questions | Total Questions |
| Financial Accounting & Financial Statement Analysis |
Financial Accounting | 19 | 35 |
| Corporate Accounting | 9 | ||
| Cost Accounting | 4 | ||
| Advance Accounting | 3 | ||
| Business Studies & Management | Business Studies | 32 | 65 |
| Business Management & Human Resource Management | 19 | ||
| Financial Management | 10 | ||
| Marketing Management | 4 | ||
| Total | 100 | ||
KVS 2017 – Question Paper Bifurcation
Total No. of Total : 100
Financial Accounting
- Which one is true?
(a) Balance sheet is the best tools to show the financial health of a business.
(b) Profit and loss accounts considered as the tool to measure net worth of business.
(c) Dual aspect concept assume indefinite life of the entity.
(d) None of the above. - The accounting principles can be classified into
(a) Accounting concepts
(b) Accounting conventions
(c) Both (1) and (2)
(d) None of the above - Luca pacioli, who gave origin to modern accounting got published his book on principles of double entry system in
(a) 1944
(b) 1864
(c) 1494
(d) 1649 - The excess of debit in trading account is called
(a) Net loss
(b) Net profit
(c) Gross loss
(d) Gross profit - Match the following
List I
A. Equity Shares
B. Debentures
C. Public Deposits
D. Microcredit
List II
1. For impoverished borrowers
2. Provides tax benefits
3. No fix burden
4. Directly received from public
Codes
A B C D
(1) 4 2 1 3
(2) 1 2 3 4
(3) 3 1 2 4
(4) 1 3 2 4 - Which of the following statements is correct?
(a) Accounting involves only the recording of business transactions
(b) Amount owed to outsiders (other than proprietor) is called capital
(c) Debit means decrease in assets
(d) Accounting is the language of business - The net profit shown by profit and loss account is transferred to
(a) Profit and loss appropriation account
(b) Trading account
(c) Balance sheet
(d) Income statement - What is the amount of gross profit when opening stock is Rs 1,200, closing stock is Rs 750, sales is Rs 30,000, cost of goods sold is Rs 22,750?
(a) Rs 6500
(b) Rs 7700
(c) Rs 7250
(d) Rs 5300 - Net profit or net loss is shown by
(a) Trading account
(b) Balance sheet
(b) Profit and loss account
(d) All of the above - The object of preparing trial balance is
(a) To check the arithmetical accuracy of accounts
(b) To check the accounting book completely and in total nature
(c) To find the economic conditions of business
(d) To get the information of assets and liabilities - The main object of ledger is to ascertain
(a) Total sales
(b) Total purchases
(c) Profit or loss of the business
(d) Net effect of all the similar nature transactions - Which one of the following is not a part of accounting process?
(a) Recording
(b) Classification
(c) Distribution
(d) Interpretation - If a trial balance does not agree, then accountant opens
(a) Drawing account
(b) suspense account
(c) capital account
(d) nominal account - Original cost = Rs 100000, life = 5 years, expected salvage value = Rs 5000, rate of depreciation per annum = ?
(a) 20.0%
(b) 19.5%
(c) 19%
(d) 19.4% - If total assets of the business are Rs 450000 outside liabilities are Rs 200000. Calculate owner equity
(a) Rs. 2,00,000
(b) Rs. 2,50,000
(c) Rs. 3,00,000
(d) Rs. 6,50,000 - Amortisation refers to writing-off
(a) Depleting assets
(b) wasting assets
(c) intangible assets
(d) fictitious assets - X and Y share profits and losses in the ratio of 3 : 2. The admit Z for 1/6th share in profit. The new ratio of distribution of profit will be
(a) 3 : 2 : 1
(b) 3 : 2 : 2
(c) 4 : 1 : 1
(d) 3 : 2 : 3 - Receipts and payments account records receipts and payments of
(a) capital nature only
(b) revenue nature only
(c) capital and revenue nature both
(d) none of these - Which of the following is incorrect?
(a) Joint venture can be formed with minor
(b) joint venture is not based on going concern
(c) a bill of exchange is a negotiable instrument
(d) Noting charges are the expenses of drawee
Corporate Accounting
- Any balance in the share forfeiture account, after all the forfeited shares are reissued, should be
(a) added to the paid-up capital
(b) transferred to the goodwill account
(c) transferred to the capital reserve account
(d) none of these - A company issued 50,000 shares of Rs. 10 each at 20% premium payable as follows: Application Rs 3, Allotment Rs 5 (including premium) and First and Final Call Rs 4. A holder of 2,500 shares failed to pay the Firs and Final Call. His shares were forfeited. Calculated the amount to be credited to Share Forfeiture Account.
(a) Rs. 11,000
(b) Rs. 15,000
(c) Rs. 14,000
(d) None of the above - A company makes an issue of 10000 equity shares of Rs. 100 each, payable as follows
On application and allotment Rs. 50
On first call Rs. 25
On second and final call Rs. 25 Members holding 400 shares did not pay the second call and the shares were duly forfeited 300 of which are reissued as fully paid at Rs. 70 per share. Amount transferred to capital reserve will be
(a) Rs.15,000
(b) Rs. 1,000
(c) Rs. 13,500
(d) None of these - Capital redemption reserve account is available for
(a) Redemption of redeemable preference shares
(b) Redemption of redeemable debentures
(c) Re-organisation of share capital
(d) Issue of bonus shares - Items included in current ratio but excluded from liquid ratio by
(a) Inventory
(b) Prepaid expenses
(c) Both (a) and (b)
(d) None of these - Calculate total assets to debts ratio. When shareholder’s fund is Rs. 7,00,000. Total debts 8,00,000 current liabilities is Rs. 2,00,000.
(a) 2.5 : 1
(b) 2 : 1
(c) 3 : 1
(d) None - What is not correct for cash flow statement?
(a) It provides information about sources and application of cash.
(b) It helps to know liquidity position
(c) It ignores accrual concept
(d) It is superior to income statement - Which of the following techniques is used in analysis and interpretation of financial statements?
(a) Ratio analysis
(b) Cash budgeting
(c) Management analysis
(d) None of the above - Under fund flow analysis, computed value of fund from operation is shown in the
(a) Sources side of fund flow statement
(b) Application side of fund flow statement
(c) Increase side of working capital statement
(d) Decrease side of working capital statement
Cost & Management Accounting
- Prime cost can be also called…………….
(a) Indirect cost
(b) Direct cost
(c) Fixed cost
(d) Opportunity cost - One of the basic differences between marginal costing and absorption costing is regarding the treatment of
(a) Direct material
(b) variable overheads
(c) fixed overheads
(d) prime cost - The quantity of material to be ordered at one time
(a) EOQ
(b) EBQ
(c) BOQ
(d) EOB - The break-even point in units is calculated using
(a) Fixed expenses and the contribution margin ratio
(b) Variable expenses and the contribution margin ratio
(c) Fixed expenses and the unit contribution margin
(d) Variable expenses and the unit contribution margin
Advance Accounting
- The user oriented programmes designed is developed for performing certain specific tasks are called
(a) Application Software
(b) System Software
(c) Customised Software
(d) Connectivity Software - Which one of the following is the First Generation language?
(a) BASIC
(b) PASCAL
(c) COBOL
(d) Machine language - What is the measuring unit of memory?
(a) Words
(b) Bytes
(c) Watt
(d) Ampere
Business Studies
- Which one is false?
(a) A profession is something which is more than a job.
(b) Those engaged in profession are called professionals.
(c) All those activities which directly or indirectly helps in the distribution of goods to the ultimate consumer is called trade.
(d) It is a carrier for someone who is to be competent in their respective area. - Which one is false?
(a) Liability of the members is limited to the extent of capital contributed by partner.
(b) Shareholders have the right to involve in the day-to-day running at the business.
(c) In the partnership deed both verbal and non-verbal format agreement are valid.
(d) The agreement deed of partnership must subscribe to distribution of profit and loss. - What are the merits of government company?
(a) Easily formed
(b) Prevents unhealthy business practices
(c) Both of the above
(d) None of the above - Which of the following reason, best explains, the reason behind joint ventures?
1. Public service
2. Risk minimisation
3. Profit maximisation
4. Business expansion - Which of the following relates to sole proprietorship?
(a) Unlimited liability
(b) Legal existence of firm separate from owner
(c) Going concern
(d) Owner has no control over crucial business decision - What is the meaning of business environment?
(a) It is a sum total of all individuals
(b) It is a sum total of all the individuals and institution
(c) It is a sum total of all the individuals, institution and external forces
(d) It is the sum total of public and private forces - Which business organization has got its separate legal entity?
(a) Joint Venture
(b) Sole Trading
(c) Firm
(d) Joint Stock Company - Warehouse used for keeping imported goods not cleared by custom authorities is known as
(a) Special commodity ware house
(b) Bonded ware house
(c) Institutional ware house
(d) Public ware house - Which of the following is the measure of success every organisation ?
(a) Sales of products
(b) Value of the goods
(c) Growth rate
(d) Creation of customer - Buying and selling of goods and services within the boundaries of a nation are referred to as
(a) External trade
(b) Export
(c) Internal trade
(d) Import - Which type of organisation owned, managed and controlled by a single individual who bears risks and enjoys the whole profit?
(a) Private organisation
(b) Partnership
(c) Sole proprietorship
(d) None of the above - Which of the following alone can ensure effective ethics programme in a business enterprise?
(a) Publication of a code
(b) Involvement of employees
(c) Establishment of compliance mechanisms
(d) None of the above - It is network of a number of branches situated at different localities in the city or in the different parts of the country.
(a) Multiple shop
(b) Consumers co-operative store
(c) Hire purchase system
(d) Internet marketing - Assertion (A) International trade leads to over-specialisation.
Reason (R) over-specialisation may be disasterous for a country.
Codes
(a) Both A and R are true, and R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is true, but R is false
(d) A is false, but R is true - Which is not one of the elements of a company’s external micro environment that need to be assessed during situation analysis fro e-marketing?
(a) Demand analysis
(b) Supplier analysis
(c) Competitor analysis
(d) None of the above - Importance of business ethics are
(a) Improving customer’s confidence
(b) Safeguarding consumer’s rights
(c) Protecting employees and shareholders
(d) All of the above - Which of the following statements is incorrect?
(a) Firm is dissolved, partnership remains intact
(b) Partnership is dissolved, firm remains intact
(c) Partnership is dissolved, firm is also dissolved
(d) Consent of all the partners for dissolution of the firm is not necessary. - What is the feature of business ethics?
(a) Based on moral and social values
(b) Gives protection to social groups
(c) Requires education and guidance
(d) All of the above - Where is Consumer Guidance Society of India located?
(a) Mumbai
(b) Delhi
(c) Pune
(d) Kolkata - Which of the following pairs is/are not correctly matched?
(a) It is controlled and managed by a Board of Governors – IMF
(b) It began its operation in June, 1946, – World Bank
(c) It posses a somewhat static view of commercial body relation – UNCTAD
(d) All of the above - Which one is true?
(a) The term business means an enterprise or a firm involved in the trade of goods and services.
(b) The term services include intangible product, such as accounting, banking, consultancy, education etc.
(c) In the competitive world, business enterprises are much dependent on business services
(d) All of the above - Which of the following statements is incorrect?
(a) Every partner can represent the firm
(b) Every partner has unlimited liability
(c) Registration of a partnership firms is compulsory
(d) All of the above - Documents that are used in internal trade are?
(a) Performa invoice
(b) Commercial invoice
(c) Lorry receipt
(d) All of these - In external trade, how many countries are involved?
(a) 1
(b) 2
(c) 2 or more than 2
(d) None of these - When considering the role of perception in scanning the business environment, an individual
(a) Possess a limited threshold of awareness
(b) Has a shortlist of cues about the environment
(c) Has a narrow perceptual window of the environment
(d) All of the above - The minimum number of members in a public company must be
(a) 2
(b) 5
(c) 7
(d) 50 - Which of the following type of account is opened by businessman
(a) Saving account
(b) Current account
(c) Recurring deposit account
(d) None of the above - Carbon monoxide emitted by automobiles directly contributes to
(a) Water pollution
(b) Noise pollution
(c) Land pollution
(d) Air pollution - Which of the following city is known as Silicon Valley of India?
(a) Hyderabad
(b) Noida
(c) Gurgoan
(d) Bengaluru - Impact of technology on business can be seen apparently on
(a) Expansion of mobile technology
(b) Extreme customer segmentation
(c) Loss of connectivity
(d) Increasing operation cost - Which one of the following act not pertains to legal protection for consumer?
(a) The Sale of Goods Act, 1930
(b) The Trade Mark Act, 1999
(c) The Competition Act, 2002
(d) None of the above - Consumer Protection, Act is applicable to whom?
(a) Only private business
(b) Only government business
(c) All types of business dealing with goods and services
(d) None of the above
Business Management & Human Resource Management
- Which of the following management functions are closely related?
(a) Planning and organising
(b) Planning and control
(c) Staffing and control
(d) Planning and staffing - Which of the following is not types of study in management
(a) Motion study
(b) Method study
(c) Time study
(d) Research study - Staffing includes
1. Training
2. appraisal
3. placement
4. directing
Which of the options given above is/are correct?
A. 1 and 2
B. 1,2, and 3
C. 2 and 3
D. all of these - Grapevine is associated with
(a) Formal communication
(b) Informal communication
(c) Horizontal communication
(d) Vertical communication - Which of the following pairs is not correctly matched?
(a) The network or pathway of informal communication : Grapevine
(b) Integration of activities of the subordinate : Directing
(c) Profit sharing : Non-financial incentive
(d) None of the above - ‘Harmony of objectives’ is a principle of
(a) Directing
(b) Planning
(c) Controlling
(d) Organising - Which of the following statement is correct?
(a) Motivation is an inner state that energises, activates and directs behaviour towards goals
(b) Security needs related to the survival and maintenance of human life
(c) Directing abilities of manager mainly depend upon his communication skills
(d) None of the above - Two sector theory of motivation was developed by
(a) Maslow
(b) Herzberg
(c) Mcclelland
(d) Vroom - What is not correct for strategy?
(a) It is concerned with evolving a new course of action
(b) It is static
(c) It aims at deploying available resources fro achieving objectives
(d) It is confined to long-term goals and objectives - Internal sources of recruitment involves
(a) Internal advertisement
(b) Extension of services
(c) Informal search
(d) All of the above - When the tools and/or raw materials are not found at the right place in the company, management principle violated is
(a) Scalar chain
(b) Order
(c) Authority and responsibility
(d) Equity - ‘Right job for the right man’ is the principle propounded by
(a) Thomas Pikette
(b) Taylor
(c) Henry Fayol
(d) FW Riggs - Which of the following statements is/are not correctly matched?
(a) in such type of training, a master worker or a trainer is appointed who guides the worker of learner regarding the skill of job – Apprenticeship programme
(b) Training is conducted away fro the actual work place – vestibule training
(c) This kind of training involves shifting the trainee from one department to another or from one job to another – internship
(d) None of the above - Policy making is the part of
(a) Motivation
(b) Staffing
(c) Planning
(d) Direction - What is the full form of ISO?
(a) International organisation for standardization
(b) Internal subscription organisation
(c) Internation subscription organization
(d) International standardization organisation - Which one is not the feature of QC?
(a) Large size
(b) Voluntary groups
(c) Regular meeting
(d) Quality focused - Objectives of HRM includes
(a) To help organisation to reach its goals
(b) To employ the skills and abilities of the workforce efficiently
(c) To develop and maintain a quality of work life
(d) All of the above - Which of the following pairs is correctly matched?
(a) Internal source : Casual caller
(b) On-job-training : Vestible training
(c) Psychological test : Aptitude test
(d) Working skills : Development - Which one is true?
(a) ‘Harmony, not discord’ is one of the best principles of Henry Fayol
(b) Differential wage system tends to slow done the quality of work
(c) Delegation of authority refers to the upward transfer of authority from subordinate to a superior
(d) None of the above
Financial Managements
- Which market directly contributes to capital formation ?
(a) Money market
(b) Capital market
(c) Primary market
(d) Secondary market - The SENSEX has
(a) 40 stocks
(b) 30 stocks
(c) 55 stocks
(d) 60 stocks - Which of the following is the oldest depository of India?
(a) SEBI
(b) CDSL
(c) NSDL
(d) RBI - Stock exchange deals with the
(a) Second hand securities
(b) Issues of preference shares
(c) Issue of equity shares
(d) Issue of debentures - Cost of capital from all the sources of funds is called
(a) Specific cost
(b) Composite cost
(c) Implicit cost
(d) Simple average cost - Which type of bonds do not carry any interest?
(a) Corporate bonds
(b) Sovereign bonds
(c) Convertible bonds
(d) Zero-coupon bonds - Which of the following is not used to estimate cost of equity capital?
(a) External yield criterion
(b) Dividend plus growth rate
(c) Equity capitalisation approach
(d) Capital asset pricing model - Which of the following statement is incorrect?
(a) Purchase of fixed assets is a day-to-day expense
(b) Business finance means money and credit employed in business firms
(c) Without adequate finance, business may run into difficulties
(d) None of the above - The securities in which forward trading is allowed, are referred to as
(a) Specified securities
(b) Permitted securities
(c) Listed cleared securities
(d) Unspecified securities - The act of buying as asset without having to make full payment in the immediate future is known as
(a) Operating lease
(b) Sale and leaseback
(b) Hire-purchase
(d) Finance lease
Marketing Management
- Which of the following will lead to change in the marketing mix of a product?
(a) Change in corporate/competitive strategy of the firm
(b) Change in the organisation or resource level of the firm
(c) Change in the product lines of the firm
(d) All of the above - All of the following are true regarding marketing except
(a) Only those, who work in the traditional marketing department are charged with performing marketing activities
(b) Any individual inside of an organisation, who can potential win or lose customers is in marketing.
(c) Marketing is involved whenever individuals or organization have a choice to make
(d) Any set of activities attempting to influence consumer choice is marketing. - . ….……..is/are the ways to overcome marketing myopia.
(a) be customer led not product oriented
(b) market orientation should be permitted through out the organisation
(c) managers need to be proactive and visionary
(d) All of the above - Organisations must strive to alter, adopt and develop their products to keep pace with ever changing customer preferences and desire. This is important feature of
(a) Marketing concept
(b) Exchange concept
(c) Production concept
(d) None of the above