UKPSC Lecturer 2018: Uttarakhand Special Subordinate Education (Lecturer-Group 'C') Services General/Women Branch Exam, 2nd Phase (Commerce)
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1. The policy of Liberalisation, Privatisation and Globalisation was introduced in the year
(a) 1956 (b) 1975 (c) 1991 (d) 2014
2. Which of the pairs of managerial functions are most closely related?
(a) Planning and Organising (b) Planning and Control
(c) Organising and Staffing (d) Leading and Control
3. If the value of money increases in terms of some foreign currency, such market mechanism
is called
(a) Appreciation (b) Depreciation (c) Devaluation (d) Dumping
4. Export surplus is desirable where there is
(a) Excess demand (b) No demand
(c) Deficit demand (d) All of the above
5. Which among the following is the most volatile flow of foreign exchange?
(a) F.D.I. (b) Foreign Portfolio Investment
(c) External Commercial Borrowings (d) Foreign aid from IMF
6. WTO came into existence on
(a) 1-1-1990 (b) 1-1-1991 (c) 1-1-1992 (d) 1-1-1995
7. CRR is a special mstrument of
(a) Monetary policy (b) Fiscal policy
(c) Both (a) and (b) (d) None of the above
8. NPA is a loan or advance for which the principal or interest payment remains overdue for a
period of atleast
(a) 60 days (b) 90 days (c) 120 days (d) 180 days
9. The Foreign Exchange Management Act was implemented in
(a) 1974 (b) 1996 (c) 1998 (d) 1999
10. Which of the following agencies is most closely associated with the world trade?
(a) ADB (b) IMF (c) UNO (d) UNCTAD
11. What is the full form of CBS?
(a) COre Banking Solution (b) Core Baking Software
(c) Core Banking System (d) Core Banking Services
12. The Headquarters of the IBRD is located at
(a) Brussels (b) Paris (c) London (d) Washington, DC
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13. The Head office of SIDBI is located at
(a) Dethi (b) Lucknow (c) Mumbai (d) Chennai
14. Credit Control is the main function of
(a) Commercial Banks (b) EXIM Bank
(c) R.B.I. (d) None of the above
15. The first five Regional Rural Banks were setup on
(a) 2 Oct. 1969 (b) 1st April, 1975 (c) 2'' Oct, 1975 (d) 1t April, 1977
16. Recent Demonetization in India was announced on
(a) 1-7-2014 (b) 8-11-2015 (c) 8-11-2016 (d) 1-4-2017
17. In the recent demonetization in India. which currency notes were demonetized?
(a) 500 (b) 1,000 (c) Both (a) and (b) (d) 10,000
18. The Consumer Protection Act, 1986 provides certain rights to consumers. How many are
these?
(a) 4 (b) 6 (c) 8 (d) 10
19. Under the Consumer Protection Act, 1986 provides for fine for filing frivolous complaint.
The amount of fine is
(a) upto 10,000 (b) upto 1,00,000
(c) not less than 50,000 (d) None of the above
20. Why is the total of both sides of the balance sheet is equal?
(a) Due to the assets and liabilities being equal
(b) Due to the double-entry system of accounting
(c) Due to the correctness of trial balance
(d) Due to all of the above
21. The ideal current ratio for a business entity is
(a) 1: 1 (b) 1: 2 (c) 21 (d) 3 : 1
22. Net working capital is
(a) excess of current assets over current liabilities
(b) excess of current liabilities over current assets
(c) excess of fixed assets over fixed liabilities
(d) excess of fixed liabilities over fixed assets
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23. Which of the following is shown in the Profit and Loss Appropriation Account?
(a) Provision for Income tax (b) Provision for Depreciation
(c) Provision for Doubtful debts (d) Contribution to General Reserve
24. The Premium received on issue of shares is shown in
(a) Credit side of the P & L A/c. (b) Debit side of the P & L A/c.
(c) Assets side of the Balance Sheet (d) Liabilities side of the Balance Sheet
25. The most rigorous test of liquidity is
(a) Acid test ratio (b) Current ratio
(c) Quick ratio (d) None of the above
26. Which one of the following can be used for statistical calculations and preparation of
graphs?
(a) Adobe Photoshop (b) Excel
(c) Notepad (d) PowerPoint
27. The difference between the subscribed capital and called up capital is called
(a) Calls in arrear (b) Uncalled capital
(c) Calls in advance (d) None of the above
28. Share Application Account is a
(a) Nominal Account (b) Real Account
(c) Personal Account (d) None of the above
29. Under the Hire-Purchase system, the interest for each period is to be calculated on the
balance of
(a) Cash price remaining unpaid (b) Installment price remaining unpaid
(c) Cash price minus the installment paid (d) None of the above
30. The real amount of share capital is
(a) Authorised Capital (b) Issued Capital
(c) Subscribed Capital (d) Paid up Capital
31. The balance of the Share Forfeited A/c. after the re-issue of the forfeited shares is
transferred to
(a) General Reserve Account (b) Capital Redemption Reserve Account
(c) Revenue Reserve Account (d) Capital Reserve Account
32. The Advance Income tax is shown in
(a) Assets side of the Balance Sheet (b) Debit side of the P & L A/c.
(c) Credit side of the P & L A/c. (d) Liabilities side of the Balance Sheet
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33. The inter-section of a colunm and a row on a worksheet is called
(a) Cell (b) Column (c) Address (d) Value
34. Under the Hire-Purchase system the buyer of the asset charges the depreciation on
(a) Hire-purchase price of the asset
(b) Cash price of the asset
(c) Lower of the two
(d) None of the above
35. Redeemable Preference Shares can be redeemed out of
(a) The Divisible Profits
(b) The proceeds of the fresh issue of shares
(c) Both (a) and (b)
(d) Sale proceeds of fixed assets
36. The preference shareholders of the company are
(a) the creditors of the company (b) the owners of the company
(c) Both (a) and (b) (d) None of the above
37. The 'Rights Shares' are offered to
(a) Directors of the company (b) Debenture-holders of the company
(c) Creditors of the company (d) Existing share-holders of the company
38. The long-term solvency is indicated by
(a) Current ratio (b) Debt-equity ratio
(c) Net profit ratio (d) None of the above
39. Which one of the following ratios is a leverage ratio?
(a) Debt-equity ratio (b) Quick ratio
(c) Total debt ratio (d) Interest coverage ratio
40. Which of the following securities does not create a fixed burden on the company?
(a) Equity Share (b) Preference Share
(c) Debenture (d) None of the above
41. The payout ratio is concerned with
(a) The salary and bonus, etc., paid to employees.
(b) The distribution of dividend to the share-holders
(c) The payment of interest to creditors
(d) None of the above
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42. If the bad debts are given in adjustment, it will be shown in
(a) Trading Account
(b) Profit and Loss Account
(c) Profit and Loss Account and Balance Sheet
(d) Balance Sheet
43. Prepaid Expenses A/c. is a
(a) Personal Account (b) Real Account
(c) Nominal Account (d) Noneofthe above
44. The process of taking entries from Subsidiary books to Ledger is called
(a) Joumalising (b) Posting
(c) Transferring (d) None of the above
45. The Debit Balance of a Nominal Account indicates
(a) Expenses and losses of the business
(b) Income and gains in the business
(c) Profits of the business
(d) Assets of the business
46. A book used to record small cash payments is called
(a) Petty cash book (b) Cash book
(c) Two columnar cash book (d) None of the above
47. A manager is entitled to receive commission @ 5% on net profit after charging such
commission. The gross profit of the firm is 8,000 and selling expenses amounted to
5,900. His commission will be
(a) 100 (b) 105 (c) 210 (d) 400
48. Which of the following errors is not disclosed by Trial Balance?
(a) Compensating errors (b) Errors of principles
(c) Errors of omission (d) All of the above
49. The Journal is a book of
(a) origin'l records (b) cash records
(c) secondary records (d) credit record
50. Showing contingent liabilities as a footnote in the Balance Sheet is based on which of the
following?
(a) Convention of Disclosure (b) Cost Concept
(c) Convention of Consistency (d) Convention of Conservatism
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51. The closing stock is generally valued at
(a) Cost price
(b) Market price
(c) Cost price or market price, whichever is lower
(d) Cost price or market price, whichever is higher
52. The Suspense Account is opened for the purpose of ba1ncing
(a) Personal Account (b) Real Account
(c) Nominal Account (d) Trial Balance
53. Accounting Standard-19 pertains to
(a) Valuation of Inventory
(b) Lease Accounting
(c) Net profit or loss for the period, prior period and change in accounting policies
(d) Cash flow statement
54. International Financial Reporting Standard-3 pertains to
(a) Financial Instruments (b) Business Combinations
(c) Revenue (d) Depreciation Accounting
55. If the profit is 25% on the cost price, then the profit on sales price will be
(a) 30% (b) 20% (c) 33% (d) 40%
56. The Bills Receivables Account is a
(a) Personal Account (b) Real Account
(c) Nominal Account (d) None of the above
57. The Bank Balance as per the Passbook is 20,000. Dividend of 1,000 collected by bank
but has been recorded in the Cashbook as 100. The Cashbook balance shall be
(a) 20,100 (b) 21,000 (c) 19,100 (d) 19,900
58. If the closing stock appears in the Trial Balance, then it will also appear in
(a) Trading Account (b) Profit and Loss Account
(c) Balance Sheet (d) None of the above
59. According to the Accrual Concept of Accounting, all financial transactions are recorded
when
(a) the transaction occurs (b) the profit is computed
(c) the balance sheet is prepared (d) the cash is received
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60. Which accunting concept indicates that the business transaction should be recorded
separately from the owner of the firm?
(a) The materiality concept (b) Separate business entity concept
(c) Time period concept (d) None of the above
61. The Income and Expenditure Account is based on
(a) Government Accounting (b) Management Accounting
(c) Accrual Accounting (d) Cash Accounting
62. Which of the following is recorded in the Income and Expenditure Account?
(a) Purchase of furniture (b) Renovation of building
(c) Profit on sale of fixed assets (d) None of the above
63. The capital of a non-profit organisation is generally called
(a) Cash fund (b) Financial reserve
(c) Accumulated fund (d) Equity
64. Which of the following is not a tool of fmancial analysis?
(a) Comparative statement (b) Break-even analysis
(c) Trend analysis (d) Ratio analysis
65. Workmen compensation fund is a
(a) Provision (b) Surplus
(c) Current Liabilities (d) Loan
66. The Central Govt. Scheme "UDAAN" to provide skills training and enhance the
employability of unemployed youth, is applicable to which state?
(a) J&K (b) Assam (c) Uttarakhand (d) Manipur
67. Which option is used to place data taken in pen drive to appropriate place in Tally?
(a) Split company data (b) Backup
(c) Restore (d) None of these
68. Debenture Premium cannot be used to
(a) Write off capital loss (b) Pay Dividend
(c) Write off discount on debenture (d) None of these
69. Which option is used in Tally to make changes in created company?
(a) Shut company (b) Select company (c) Alter (d) None of these
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70. Which one of the following statements is true?
(a) Marketing and selling are synonymous.
(b) Marketing is a part of selling.
(c) Selling is a part of marketing.
(d) None of the above
71. The marketing concept is
(a) Customer-oriented (b) Product-oriented
(c) Sales-oriented (d) All of the above
72. The first step in the planning process is
(a) Evaluation of alternatives (b) Establishment of objectives
(c) Selection of the best alternative (d) Forecasting
73. Which one of the following can be delegated?
(a) Accountability (b) Authority
(c) Responsibility (d) All of the above
74. The Theory "X" and Theory "Y" of motivation were propounded by
(a) Herzberg (b) A.H. Maslow (c) McGregor (d) William Ouchy
75. Which of the following is related to the power styles of leadership?
(a) Autocratic (b) Democratic (c) Free-reign (d) Supervisory
76. The major objective of Financial Management is
(a) Maximisation of Profits (b) Maximisation of Sales
(c) Maximisation of Wealth (d) None of the above
77. If the total sale is 10,000 units 10 per unit, variable cost is 6 per unit, and the fixed
cost is 20,000, the operating leverage will be
(a) 2 (b)4
(c) 10 (d) None of the above
78. Which one of the following is not a technique of capital structure analysis?
(a) Capital budgeting (b) Capital gearing
(c) Cost of capital (d) 'Trading on equity'
79. The pre-incorporation contracts of a company are entered into by
(a) Directors of the company (b) Promoters of the company
(c) Shareholders of the company (d) None of the above
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80. Memorandum of Association of a company defines the relationship between
(a) Company and its Directors (b) Company and its Promoters
(c) Company and its Shareholders (d) Company and Outsiders
81. The doctrine of Indoor Management is an exception to
(a) Doctrine of caveat emptor (b) Doctrine of 'Constructive notice'
(c) Doctrine of intra vires (d) Doctrine of ultra vires
82. Shelf prospectus is issued by a
(a) Trading company
(b) Manufacturing company
(c) Public company whose shares are listed in any Stock Exchange
(d) Public Financial Institutions or a Banking company
83. The conclusive evidence of registration of a company is
(a) certificate of commencement of business
(b) certificate of incorporation
(c) Both (a) and (b)
(d) None of the above
84. The Board of Directors of a company cannot appoint
(a) Independent Director (b) Additional Director
(c) Alternate Director (d) Director to fill a casual vacancy
85. Who can be appointed as a Director of a Company?
(a) Any body corporate (b) Any firm
(c) An individual (d) All of the above
86. The written record of the business transacted at a company's meeting is called
(a) Agenda (b) Minutes (c) Report (d) Resolution
87. The National Company Law Tribunal is a/an
(a) Administrative Body (b) Judicial Body
(c) Quasi-judicial Body (d) None of the above
88. The appeal against any order of the NCLT would lie with
(a) Company Law Board (b) NCLAT
(c) High Court (d) Supreme Court
89. Under the Companies Act, 2013, the threshold limit of net worth of a company to comply
with CSR provisions is
(a) 200 crore (b) 500 crore (c) 1000 crore (d) 2000 crore
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90. The time limit within which a consumer can file a complaint under the Consumer
Protection Act, 1986, is
(a) one year (b) two years
(c) three years (d) there is no such limit
91. Which one of the following is not a ground on which a complaint can be filed before the
District Forum?
(a) Defect in goods (b) Misleading advertising
(c) Predatory pricing (d) Restrictive trade practice
92. Which one of the following taxes is not subsumed in the GST?
(a) Entertainment Tax (b) Entry Tax
(c) Stamp Duty (d) VAT
93. GST is not payable on
(a) Educational services (b) Hotel and Restaurant services
(c) Transport services (d) Telephone services
94. How many types of need are included in the Maslow's Need hierarchy theory?
(a) 3 (b) 4 (c) 5 (d) 6
95. The concept of 4P's of marketing was introduced by
(a) E. Jerome McCarthy (b) Philip Kotler
(c) Peter F. Drucker (d) None of the above
96. Which of the following is an element of Physical Distribution System?
(a) Inventory level (b) Mode of transport
(c) Warehousing (d) All of the above
97. Promotion mix includes
(a) Advertising (b) Personal selling (c) Sales promotion (d) All of the above
98. Management is
(a) anArt (b) a Science
(c) Both (a) and (b) (d) None of the above
99. Who is called the Father of Scientific Management?
(a) Henry Fayol (b) F.W. Taylor
(c) Peter F. Drucker (d) None of the above
100. Who propounded the Fourteen Principles of Management?
(a) Henry Fayol (b) F.W. Taylor
(c) Peter F. Drucker (d) None of the above
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Source: Uttarakhand Public Service Commission. Question paper published by Uttarakhand Public Service Commission.