BPSC Exam 2025: Integrated 70th Combined Main (Written) Competitive Examination, Optional, Commerce And Accountancy
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Serial No.
Booklet Series
02/GO/CC/M-2025 – 10
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Candidate’s Roll Number
Question Booklet
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COMMERCE AND ACCOUNTANCY
Time Allowed : 2 Hours Maximum Marks : 100
Read the following instructions carefully before you begin to answer the questions.
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1. According to Herzberg, which of the 4. Which statement is not correct about the
Cost Reduction ?
following is a maintenance factor ?
(A) It assumes existence of standards and
these standards are not challenged
(A) Salary over the period
(B) It lacks a dynamics approach as the
(B) Recognition only objective is not to exceeds the
standards
(C) Work itself
(C) It aims to adherence to and achieving
standards, that is, cost targets
(D) Responsibility
(D) None of the above
5. Strategic planning as a broad concept
2. Income of minor child is exempted
consists of
(A) 1,000 (A) Corporate strategy and business
strategy
(B) Whole income
(B) Environmental analysis and internal
(C) 1,500 analysis
(C) Strategy formulation and strategy
(D) Income of minor child or 1,500
implementation
whichever is less
(D) Inputs and outputs
3. The term mutually exclusive investments 6. The term optimal capital structure implies
mean that combination of external equity and
internal equity at which
(A) Choose only the best investments
(A) The overall cost of capital is
minimised
(B) There are no investment options
(C) Selection of one investment precludes than the overall cost of capital
the selection of an alternative (C) The overall cost of capital is
maximised
(D) The elite investment opportunities will
get chosen available minimised
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7. A new undertaking is established in 10. Concept of Maximum Permissible Bank
Special Economic Zone during the
previous year 2015-16. Deduction under
Section 10AA shall be allowed for (A) Kannan Committee
(A) 5 assessment years (B) Tandon Committee
(B) 15 assessment years (C) Chore Committee
(C) 8 assessment years (D) Nayak Committee
(D) 10 assessment years
11. Which of the following statement is True ?
8. The accumulated losses under scheme (A) The term ‘alternative proper’
of internal reconstruction are written off and ‘reduction of capital’ are
against synonymous
(B) Reconstruction necessarily
(A) Share Capital Account
involves liquidation of the company
(B) Capital Reduction Account concerned
(C) Both (A) and (B) (C) Permission of the Company Law
Tribunal is not required for increase
(D) None of the above of share capital
(D) Refunding surplus capital does not
amount to reduction of share capital
9. The attitude based on beliefs, opinion,
knowledge, or information about the
particular event which the employee 12. CAAT stands for
possesses is under ________
(A) Computer Assisted Auditing Trust
component of attitude.
(B) Computer Assisted Auditing
(A) Behavioral Technique
(B) Positive (C) Computer Accounting and Auditing
Trust
(C) Cognitive
(D) Computer Accounting and Auditing
(D) Affective Technique
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13. Baumol’s Model of Cash Management 16. Issue of bonus shares by the subsidiary
attempts to
(A) Minimise the holding cost
(A) Increase cost of control
(B) Minimization of cash balance
(C) Minimization of transaction cost (B) Have no effect on cost of control
(D) Minimization of total cost
(C) Decrease cost of control
14. Which of the following are correct about (D) None of the above
the Inventory control technique
Just-In-Time (JIT) ?
i. Zero Inventory
17. MBTI stands for
ii. Zero breakdown
iii. Zero defects (A) Myers-Briggs Test Indicator
iv. 100% on time delivery service
(A) i, ii and iv (B) Myers-Briggs Type Investigator
(B) i, ii and iii
(C) i, iii and iv (C) Myers-Briggs Test Investigator
(D) All of the above
(D) Myers-Briggs Type Indicator
15. Which of the following are correct ?
Accounts To Record Entry in 18. In which year in the Institute of Chartered
the
Accountants of India had issued a
Account
i. Assets An increase Debit guidance note on Accounting for Price
A Decrease Credit level changes but same was withdrawn
ii. Capital An increase Debit on 23rd June, 2008 ?
A Decrease Credit
(A) September 1980
iii. Liabilities An increase Credit
A Decrease Debit
(B) September 1983
(A) i, ii and iii
(B) ii and iii (C) September 1981
(C) i and ii
(D) September 1982
(D) i and iii
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19. A citizen of India who goes abroad for 22. What is Currency Deposit Ratio (CDR) ?
the purpose of employment, he must stay
(A) Ratio of money held by the public in
in India to become a resident for at least
bank deposits to that of money held
___________ if his total income (other
by public in currency
than income from foreign sources) upto
15,00,000 during the previous year. (B) Ratio of money held in demand drafts
(A) 182 Days to that of money held in treasury
bonds
(B) 60 Days
(C) 180 Days (C) Ratio of money held by the public in
currency to that of money held in bank
(D) 90 Days
deposits
(D) None of the above
20. In case of inter-company holdings, the
purchasing company, at the time of
payment of the purchase consideration, 23.
before interest, Tax and Dividend and
surrenders the shares in the vendor Capital employed is known as
company by crediting (A) Current Ratio
(A) Shares in the vendor company
account (C) Quick Ratio
(B) Share capital account (D) Return on Investment
(C) Vendor company’s account
(D) None of the above 24. Which of the following statement is
21. What would be the accounting treatment (A) Adequate examination of books
of scrap when the value of scrap is
(B) Use of reasonable skill and care
(A) Net sale proceeds of scrap should be
treated as other income (C) The generally accepted principle of
auditing have been violated
(B) No record should be maintained
(C) Net sale proceeds of scrap is deducted (D) The auditor may have received
from the material cost adequate information and explanations
(D) It should be ignored sought by him
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25. The term _________ means 28. If share issued at premium and forfeited
manipulation of accounts in a way so but amount of premium is already
received. Then, the treatment of security
as to conceal vital facts and present the
premium account is
(A) Credited
better position than what it actually is. (B) No Treatment
(A) Window dressing (C) Debited
(D) None of these
(C) Creative accounting 29.
(D) Window accounting
i. Decrease the unit selling price of
product.
26. Which of the following allowances are ii. Reducing the product unit marginal
fully exempted ? cost.
i. Sumptuary allowances to High Court iii. Decreasing the share of high
or Supreme Court Judges contribution margin products in a
ii. Per-Diem Allowance multi product company.
iii. Foreign Allowance iv. Reducing the share of low contribution
iv. Counter Insurgency Allowance margin products in total sales.
(A) ii, iii and iv (A) ii and iv
(B) i, ii and iii (B) i, ii and iii
(C) i, iii and iv (C) i and iv
(D) All of the above (D) All of the above
27. _________ contains the theories which 30.
gives an Idea about what employees (A) Weighted average cost of all debts
wants or needs.
(A) Expectancy theory should earn
(C) Rate of return expected by equity
(B) Content theory
shareholders
(C) Maslow theory (D) Average internal rate of return of the
(D) Process theory
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31. 34. What method is used by the Bank to
read code on cheque ?
(A) The Income Tax Act
(A) OCR
(B) OMR
(C) MICR
(C) The Finance Act (D) None of the above
(D) An Ordinance
35. Which of the following were purpose of
Nationalization of banks ?
32. Current cost accounting method of i. To increase the presence of banks
accounting for changing prices was across the nation.
ii. To provide banking services to
suggested by
different segments of the society.
(A) Sir Francis Sendilands iii. To change the concept of class
banking into mass banking.
(B) Sir Francis Benjamin iv. To support priority sector lending and
growth.
(C) Sir Francis Galton (A) i, ii and iii
(B) i, ii and iv
(D) None of the above (C) i, iii and iv
(D) All of the above
33. For checking that allotment of shares has
36. The cost per unit of product
been properly made, an auditor should manufactured in a factory amounts to
refer to 160 (75% variable) when production is
10,000 units, when production increases
(A) Cash book by 25% the cost of production will be
_________ per unit.
(B) Shareholders minutes book (A) 140
(B) 152
(C) Shares ledger
(C) 145
(D) Directors minutes book
(D) 150
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37. 40. Angle of Incidence represents
people to strive willingly for group (A) Larger angle of incidence is a sign of
objectives.” This statement is given by
(A) George R. Terry (B) A high margin of safety with lower
angle of incidence will represent
(B) Rensis Liker
business concern
(C) Harris Thomas A.
(C) Angle formed by the intersection of
(D) Davis, Keith total cost line and total revenue line
in a break-even chart
(D) All of the above
38. The annual value of the vacant house
property referred to in the Section 23(2)b
of Income Tax Act 1961 shall be
41. Accountability means
(A) Municipal value
(A) Responsibility
(B) Nil
(B) Power
(C) Fair Rent
(C) Authority
(D) Standard Rent
(D) None of these
39. What would be the break-even for the
train journey between Delhi-Bangalore 42. _________ is the ultimate remedy for
where cost of an engine is 10,00,000 the settlement of industrial dispute
and of a Bogie 2,00,000. Capacity of through the intervention by the third party
Bogie is 80 passengers and each ticket appointed by the government.
for the journey is 5,000. There is no
(A) Conciliation
variable cost per passenger ?
(A) 10,00,000 (B) Collective bargaining
(B) 40,00,000 (C) Voluntary arbitration
(C) 20,00,000
(D) Adjudication
(D) 30,00,000
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43. At indifference level of EBIT, different 46. To increase margin of safety, the
capitals have following measure can be taken
i. Increase in sale price.
(A) Same EBIT
ii. Increase the output
(B) Same PBT
Which of the following is/are true ?
(C) Same EPS
(A) i and ii
(D) Same PAT (B) ii and iii
(C) Only i
(D) All of the above
44. _______________ is process in which
representatives of workers and employees
are brought together before a third person
47. Unless a contingent liability is quite
or a group of person with view to come to
mutually satisfying agreement. negligible, its existence should be
(A) Conciliation disclosed by an appropriate note in the
(B) Expansion
(A) Balance sheet
(C) Merger
(B) Audit working note
(C) Audit report
(D) None of the above
45.
on several assumptions. Which of the
following is not one of these assumptions ? 48. A system for accounting which purports
(A) The sales-mix of the products is to record as built-in mechanism all
constant economic events in terms of current cost
(B) The factor prices, for example, is called
material prices and wage rates
remain unchanged
(C) Inventory quantities change during
the year (B) Current cost accounting
(D) The behaviour of both revenues and (C) Price level accounting
cost is linear throughout the relevant
range
(D) None of the above
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49. Under purchase method the difference 52. Which of the following statement is True ?
between the purchase consideration and
(A) A new company need not be formed
share capital of the transferee company in case of external reconstruction
should be adjusted to
(A) Amalgamation adjustment account transferred to realisation account in
(B) Goodwill or capital reserve case of Amalgamation of a company
with another company
(C) General reserve
(C) The term ‘trade liabilities’ includes
(D) None of the above debentures and outstanding salaries
(D) Liabilities not taken over by the new
50. Match the following :
company are generally not transferred
to the realisation account
Activity Cost Unit
a. Professional Service i. Kilogram of
yarn spun 53. Hawthorne Studies is related to which
stage of the organisational behaviour
b. Credit Control ii. Account
evolution ?
Maintained
c. Spinning iii. Customer (A) Industrial revolution
Call
(B) Human relations movement
d. Selling iv. Chargeable
Hour
(A) a – iv, b – ii, c – i, d – iii (D) Organisational behaviour
(B) a – iv, b – iii, c – i, d – ii
(C) a – iii, b – ii, c – i, d – iv 54. Which of the following should not be
considered in a make or buy decision ?
(D) None of these
(A) Potential use of manufacturing
51. Debt Financing is a cheaper source of capacity
(A) Time value of money
(C) Variable costs of protection
(B) Dividends not payable to lenders
(C) Rate of interest (D) Potential rental income from space
(D) Tax-deductibility of interest occupied by production area
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55. A company incurred capital expenditure 59. Which accounting method is suggested
of 2,00,000 during the previous year in Ind AS 103 for amalgamation ?
on promotion of family planning amongst
its employees. During the previous (A) Purchase Method
year deductions shall be allowed to the
company (B) Acquisition Method
(A) 20,000
(C) Pooling of Interest Method
(B) 2,00,000
(D) All of the above
(C) 40,000
(D) 1,00,000
60. ‘An auditor must be honest’ this
statement was stated in
56. A budget centre is
(A) Kingston Cotton Mill Case
(A) Meeting place for budget committee
(B) London Oil Storage Co. Ltd. Case
(C) London and General Bank Case
(C) Department or part of the
department (D) Lee vs Neuchatel Co. Ltd. Case
(D) None
61. Which of the following statement is
57. Which theory was given by False ?
Robert F. Hoxie ?
(A) The value of goodwill will be higher
(A) Industrial democracy/
Non revolutionary
method as compare to annuity method
(B) Anti-Capitalism/Revolutionary
(C) Social Psychological
(B) Goodwill is a rough measure of the
(D) Capitalism approach
earning power of the capital employed
by an entity
58.
concept (C) The terms capitalisation factor and
(A) Going concern multiplier are synonymous terms
(B) Cost concept
(D) Normal rate of return comprises of
(C) Money measurement
only return at zero risk level
(D) Dual aspect
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62. A company maintains a margin of safety 65. The ________ is based on the
of 25% on its current sales and earns environment. Though _______, like
30 lakhs per annum. If the thinking, expectations and perception do
exist and they are not needed to manage
of 40%, its current sales amount to
or predict behaviour.
(A) 300 lakhs
(A) Behaviouristic Approach, Cognitive
(B) 325 lakhs Processes
(C) 200 lakhs (B) C o g n i t i v e P r o c e s s e s , S o c i a l
Cognitive
(D) None of the above
(C) Cognitive Processes, Behaviouristic
Approach
63. Top authorities in income tax authorities
(D) Social Cognitive, Behaviouristic
are
Approach
(A) Finance Minister
(B) Chief Commissioner 66. Workers’ facilitation centres shall be set
up by the facilitating agency under the
(C) Finance Secretary
(A) Payment of Bonus Act, 1965
(D) Board of Direct Taxes
(B) The Unorganized Sector Worker’s
Social Security Act, 2005
64. (C) Equal Remuneration Act, 1976
(P/V) ratio is
(D) Factories Act, 1948
in Sales] × 100 67. Managerial associations are commonly
referred to as _________ and registered
(B) P/V ratio = [Sales – Variable cost /
under Trade Unions Act, 1926.
Sales] × 100
(A) Employers Association
(C) P/V ratio = [Contribution / Sales]
× 100
(D) All of the above (C) Workers Association
(D) None of these
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68. Preliminary expenses are transferred 71. Which are not the characteristics of
by the vendor company at the time of grievances ?
absorption to
(A) Factual
(A) Realisation Account
(B) Imaginary
(B) Equity Shareholders’ Account
(C) Fabricated
(C) Purchasing Company’s Account
(D) Disguised
(D) None of the above
72. When shares are forfeited the share
69. Prime cost is
capital accounts is debited by
(A) All costs incurred in manufacturing a
(A) Called-up amount
product
(B) Cost of operating a department (B) Paid-up amount
(C) Total of direct costs (C) Nominal value of shares
(D) Material cost of product (D) None of these
70. A situation where the holding and
73.
subsidiary companies own shares in
order costing ?
each other is called
(A) Job Costing
(A) Similar holding
(B) Process Costing
(B) Minority holding
(C) Unit Costing
(C) Cross holding
(D) All of the above
(D) None of the above
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74. Non-controlling interest should be 77. Match the following :
presented in Consolidated Balance Column – I Column – II
Sheet as per Ind AS 110
1. Dividend policy a. Myron Gordon
(A) Separately from liabilities and equity
has no effect on
of the parent’s shareholders
its value of assets.
(B) Not to be shown in Consolidated 2. Value of share is b. Graham and
Balance Sheet worth the present Dodd
(C) Within Equity separately from the value of its future
dividend rather
parent’s shareholders’ equity
than its earnings.
(D) Within Current Liabilities
3. Dividend policy c. John Burr
75. Which of the following are essential has an impact on Williams
pre-requisites of workers participation in
management ? share valuations.
(A) Mutual trust between parties 4. Market price of d. Modigliani and
(B) Avoidance of participation of outside share will increase Miller
trade unions
when company
(C) Fre e f low c ommun ication a nd
information declares dividend
(D) All of the above rather than when
it does not.
76. _________ advocated that humans are
(A) 1 – b, 2 – a, 3 – c, 4 – d
essentially motivated by levels of need.
(A) Maslow (B) 1 – a, 2 – b, 3 – c, 4 – d
(B) Ivon Pavlov
(C) 1 – b, 2 – d, 3 – c, 4 – a
(C) Follet
(D) 1 – b, 2 – a, 3 – d, 4 – c
(D) Elton Mayo
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78. Identify the false statement on International 81. Taking over of the business of one or
Labour Organisation. more companies by a company already
(A) International Labour Organisation is in existence is called
a tripartite body.
(A) Amalgamation
(B) International Labour Organisation
passes conventions and (B) External Reconstruction
recommendations prescribing
International Labour Standards. (C) Absorption
(C) India was not a founding member of (D) Internal Reconstruction
the International Labour Organisation
as it did not get its Independence.
82. _________ explains how and why
(D) International Labour Organisation has
three organs, namely, the International people react when they feel unfairly
Conference, the governing body and treated.
(A) Equity theory
79. A direct cost is a cost which (B) Goal setting theory
(A) Incurred as a direct consequence of
(C) Expectancy theory
a decision
(B) Is the responsibility of the board of (D) Goal attain theory
directors
the item being costed 83. Inter-company owing on account
of dividends will be shown in the
the item being costed consolidated balance sheet on
80. Which of the following is not a (A) The Liabilities side
determinant factor of industrial relations ?
(B) The Current Assets side
(A) Institutional factors
(C) The Asset side
(C) Economic factors
(D) No where
(D) Technological factors
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84. Which of the following statements are 86. _________ addresses a whole range of
true ? skills and knowledge, which contribute
to the harmonious development of a
i. The normal losses are absorbed by
worker’s personality, his role in the
the completed production.
society and the knowledge and attitudes
ii. The abnormal loss is the amount by required for such roles.
which the actual loss exceeds the
(A) Workers compensation
normal loss.
iii. The abnormal loss is treated as (B) Formal education
and Loss Account at the end of the
(D) Workers education
period.
iv. The abnormal losses are included in
87. Match the following :
the process costs.
List – I List – II
(A) i, iii and iv
Year Enactment
(B) i, ii and iii
(C) i, ii and iv i. 1948 A. Industrial
Employment
(D) All of the above
Standing Orders
Act
85. What is the accounting treatment of
Goodwill as per Ind AS 103 ? ii. 1926 B. Industrial Disputes
(A) Goodwill arising on Amalgamation in Act
the nature of purchase is amortised
over a period not exceeding five iii. 1947 C. Factories Act
years
iv. 1946 D. Trade Unions Act
(B) The goodwill is amortised but not
tested for impairment on annual basis
i ii iii iv
in accordance with Ind AS 36
(C) Goodwill arising on Amalgamation in (A) C B D A
the nature of merger is amortised over
(B) C D B A
(D) The goodwill is not amortised but (C) B D C A
tested for impairment on annual basis
in accordance with Ind AS 36 (D) C D A B
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88. Match the following : 89. The salary of a student for forgoes while
in college is an example of
Column – I Column – II (A) Opportunity cost
GGGGG GG
1. Important a. Represents a (B) Variable cost GGGGG GG
element of Capital risky situation (C) Direct costs
Budgeting is (D) Sunk cost
2. High Operating b. May affect the
and Financial size of working 90. Match the following :
Section of Deals with
Leverage capital
Companies provisions
3. A consistent c. A tool for
Act, 2013
dividend policy analysis of
1. 139 a. Auditors to attend
General Meeting
statements
4. Fund Flow d. The analysis 2. 140 b. Appointment of
Auditors
Statement is of risk and
uncertainty 3. 142 c. Removal,
Resignation of
Auditor
(A) 1 – d, 2 – a, 3 – c, 4 – b
4. 146 d. Remuneration of
(B) 1 – a, 2 – b, 3 – c, 4 – d Auditors
(A) 1 – b, 2 – c, 3 – d, 4 – a
(C) 1 – b, 2 – d, 3 – c, 4 – a
(B) 1 – a, 2 – b, 3 – c, 4 – d
(C) 1 – b, 2 – c, 3 – a, 4 – d
(D) 1 – d, 2 – a, 3 – b, 4 – c
(D) 1 – b, 2 – a, 3 – c, 4 – d
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91. Which of the following statement is true ? 93. In the following question, a statement of
Assertion (A) is followed by a statement of
(A) In case of firm underwriting the
Reason (R). Mark the correct choice as
underwriter has a right to get allotment
Assertion (A) : Motivation is the
of that number of shares which technique used to motivate people in an
organisation.
has been firmly underwritten by
Reason (R) : Negative motivation
him, though the issue has been provides rewards like increase in pay,
oversubscribed by the public promotion, recognition, etc.
(A) Both (A) and (R) are true, and (R) is
(B) A company can issue its shares the correct explanation of (A)
at a discount by passing special
(B) (A) is false, but (R) is true
resolution
(C) Both (A) and (R) are true, but (R) is
(C) A company cannot purchase its own not the correct explanation of (A)
equity shares (D) (A) is true, but (R) is false
(D) The interest rate charged on calls-in-
arrears and interest rate payable on 94. Which statements are true regarding the
calls-in-advance are the same as per margin of safety ?
provision of Table F of Schedule-I of i. Margin of safety represents the
the Companies Act, 2013 difference between sales at given
activity level and sales at break-even
point.
92. The Central Board for Workers ii. A low margin of safety usually
indicates high fixed overheads so
Education (CBWE) an autonomous
body under the Ministry of Labour and
a high level of activity to absorb the
Employment, Government of India was
started in iii. It is important that there should be a
reasonable margin of safety to shut
(A) 1957
down the operations.
(B) 1950 (A) ii and iii
(B) i, ii and iii
(C) 1958
(C) i and ii
(D) 1959 (D) All of the above
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95. According to Edward Tolman, _______ 98. Under which of the following Section/s,
the Industrial Dispute provides for a three
consists of the expectancy that a
tier system of adjudication viz. Labour
particular event will lead to a particular
Courts, Industrial Tribunals and National
consequence. Tribunals ?
(A) Section 7B
(A) Eventual
(B) Section 7A
(B) Attitude
(C) Section 7
(C) Behaviour
(D) All of the above
(D) Learning
99. Which of the following is not a
characteristic of Trade Union ?
96.
(A) Voluntary Association
indicates
(B) Individual actions
(A) Operating risk (C) Intermediary
(D) Common Goals
(B) Financial risk
(C) Total risk
100. As per ________ Behaviour is not the
(D) None of these outcome of stimulus alone, but it is
an outcome which also depends on
contingent environmental consequences
97. Section 141(3) g is related to of a behaviour.
(A) Removal of auditor (A) Behaviouristic framework
(B) Powers of company auditor (B) Behaviour theory
(C) Rotation of auditor (C) Cognitive framework
(D) Ceiling on number of audits (D) Sinner framework
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Official key not published for this paper.
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Source: Bihar Public Service Commission. Question paper published by Bihar Public Service Commission.