Jamia Question Paper 2020
- Which of the following is a nominal account?
(a) Drawing accounts
(b) Outstanding rent account
(c) Salary account
(d) Closing stock account - Rs.15,000 spent on replacement of worn out part of the machine will be charged as;
(a) Capital expenditure
(b) Revenue expenditure
(c) Deferred revenue expenditure
(d) Non-operating expenditure - According to which of the following accounting concepts even proprietor of a business is tried as a creditor of the business to the extent of his capital
(a) Money measurement concept
(b) Dual entry concept
(c) Going concern concept
(d) Separate entity concept - Which of the following statement is true?
(a) Capital = Assets + Liabilities
(b) Assets = Capital – Liabilities
(c) Assets = Capital + Liabilities
(d) Liabilities = Capital + Assets - Which of the following is an essential characteristics of an assets?
(a) The claim to an asset’s benefit is legally enforceable
(b) An asset is tangible
(c) An asset is obtained at a cost
(d) An asset provides future benefits - Nominal account having credit balance represents ____________________.
(a) Income and gain
(b) Expenses or loss
(c) Assets
(d) Liabilities - If opening stock is Rs. 75,000 purchases are Rs. 20,000, cost of goods sold is Rs.2,60,000 and sales are Rs. 3,00,000, then gross profit or loss will be;
(a) Rs.40,000
(b) Rs.30,000
(c) Rs.35,000
(d) Rs.25,000 - A draws a bill on B for Rs.2,00,000 for 3 months on 1.1.2019. The bill is discounted with banker at a charge of Rs.1,000. At maturity the bill return dishonored. In the books of A, for dishonor, the bank account will be credited by;
(a) 1,99,000
(b) 2,00,000
(c) 2,01,000
(d) 2,89,000 - Subscription received in advance during an accounting year is treated as _____________
(a) Income
(b) Asset
(c) Liability
(d)Expenses - Opening stock of Rs.20,000, Purchases Rs.1,20,000, Closing Stock Rs.60,000, Gross Profit on sales is 20%. Then the amount of sales is ________________.
(a) Rs.80,000
(b) Rs.1,00,000
(c) Rs.1,40,000
(d) Rs.1,80,000 - Find out credit purchases with the help of information given below: –
Cash Purchase Rs.5,000, Cash Sales Rs.12,000, Credit Sale Rs.18,000, Closing Stock Rs.3,500, Opening Stock Rs.2,750, Rate of Gross Profit is 20% on Cost.
(a) Rs.20,250
(b) Rs.20,750
(c) Rs.21,000
(d) Rs/21,750 - What metaphor is used to describe the competitive space where products are not yet well defined, competitors are not structured and the market is relatively unknown?
(a) Red Sea
(b)Blue Lagoon
(c) Red Ocean
(d) Blue Ocean - What is the initial step is starting a business?
(a) Raising the capital
(b) Registering a company
(c) Identifying Customer pain
(d) Doing market research - Which of the following should be the most important concern for the entrepreneur, while starting a new venture, to make an assessment of?
(a) Risk
(b) Profit
(c) Market
(d) Competitors - If an entrepreneur’s business is based on current technology, and uncontrollable risk might be:
(a) Changes in consumer tastes
(b) New technology developments
(c) The weather
(d) Fashion trends - Which of the following is NOT recognised as misconception about entrepreneurship?
(a) Entrepreneurship is only found in small business
(b) Entrepreneurship is easy
(c) Successful entrepreneurship needs a great idea
(d) Entrepreneurship can be learned - For an employee in receipt of hostel expenditure allowance for his three children, the maximum annual allowance exempt under section 10 (14) is;
(a) Rs.10,800
(b) Rs.7,200
(c) Rs.9,600
(d) Rs.3,600 - Who among the following may be “not ordinarily resident”
(a) Partnership firm
(b) Company
(c) Association of persons
(d) Hindu Undivided Family - XYZ commenced business on 31-03-2018, first previous year in case of a business would________.
(a) Start from 1st April, 2017 and end on 31st March 2018
(b) Start from 1st January, 2018 and will end on 31st March 2018
(c) Start from 1st January, 2018 and end on 31st December, 2018
(d) Start from 31st March, 2018 and will end on 31st March 2018 - Is the illegal usage of loopholes in the tax laws to one’s own advantage, to reduce the amount of tax payable.
(a) Tax Planning
(b) Tax Avoidance
(c) Tax Evasion
(d) Tax Planning - Number of total character in a PAN
(a) 9
(b) 10
(c) 11
(d) 12 - Incomes accrue/arise outside India from a Business controlled from India is taxable in case of;
(a) Resident only
(b) Not ordinarily resident only
(c) Both ordinarily resident and NOR
(d) Non resident - Which of the following section defines the duties and powers of Auditors?
(a) Section 226
(b) Section 227
(c) Section 220
(d) Section 209 - According to Section 209, companies should preserve the financial statements for; ____________.
(a) 4 Years
(b) 10 Years
(c) 7 Years
(d) 8 Years - Valuation of Inventory under IFRS is done by;
(a) LIFO
(b) FIFO
(c) Both (a) and (b)
(d) HIFO - IASB Stands for;
(a) Indian Accounting Setters Body
(b) Indian Accounting Standards Board
(c) International Accounting Standards Board
(d) International Accounting Settlement Board - A complaint not satisfied with order of the District Forum may prefer an appeal against the order before the State Commission within how much time from the date of passing the order by the district forum;
(a) 30 days
(b) 45 days
(c) 60 days
(d) 90 days - The expression ‘Nemodat quad non-habet’ means ___________________.
(a)Let the buyer beware
(b) Only the owner of the gods can transfer a title thereto
(c) One cannot give what one does not have
(d) Condition as to little may be negative by express terms - Which of the following concepts is considered as a myth?
(a) Two parties
(b) Transfer of property in goods
(c) Consideration in price
(d) Delivery of goods - When demand curve is rectangular hyperbola the elasticity of demand will be;
(a) Delivering goods for carriage
(b) Delivering goods for repair with or without remuneration
(c) Placing of ornaments in a bank locker
(d) Delivering goods to a creditor to serve as security of loan - The doctrine of ‘Constructive Consideration’ implies
(a) As long as there is a consideration for a promise, it is immaterial who has furnished it
(b) Consideration must be real and not illusory
(c) Consideration must be legal
(d) Consideration must move at the desire of the promisor - Price discrimination is profitable and possible of the two market have;
(a) Not enforceable at all
(b) Enforceable at the option of either party
(c) Enforceable at the option of aggrieved party only
(d) Enforceable at the option of the party who is not aggrieved - When a negotiable instrument is delivered conditionally or for a special purpose as a collateral security or for safe custody only, it is called;
(a) Accommodation bill
(b) Genuine trade bill
(c) Escrow
(d) Documentary bill - Probability and Linear Programming for planning and controlling activities are used by ________________.
(a) PERT
(b) CPM
(c) Transactional Analysis
(d) Zero-based budgeting - Three unbiased coins are tossed. What is the probability of getting at most two tails?
(a) 12
(b) 34
(c) 8
(d) 58 - A balance sheet is;
(a) CPM
(b) PERT
(c) Zero-based budgeting
(d) Management Audit - The data analysis technique that can give you answers to questions you did not even ask is called;
(a) Database management
(b) Data diving
(c) Data mining
(d) Data cleaning - Which of these measures are used to analyse the central tendency of data?
(a) Mean and Normal Distribution
(b) Mean, Median and Mode
(c) Standard, Deviation, Range and Mean
(d) Median, Range and Sample Space - If a car travels from point A to point B in 15 minutes, where the distance between A and B is 18 km, what is the speed with which the car travels? Assume the car travels at same speed all the time.
(a) 5 m/s
(b) 15 m/s
(c) 10 m/s
(d) 20 m/s - Find the variance and standard deviation for the following data: 57, 64, 40, 35, 67, 46, 62, 43.
(a) 149, 12.2
(b) 150, 12
(c) 148.9, 11.9
(d) 149.9, 12.6 - Which of the following is not a Principle of management given by Taylor?
(a) Science, not rule of thumb
(b) Functional foreman-ship
(c) Maximum not restricted output
(d) Harmony not discords - Management should find ‘One best way to perform a task. Which of scientific management is defined in this sentence?
(a) Time study
(b) Motion study
(c) Fatigue study
(d) Method study - The principles of management are significant because of;
(a) Increase in efficiency
(b) Initiative
(c) Optimum utilization of resources
(d) Adaption to changing technology - “Planning leads to rigidity” is a ___________________.
(a) Importance of Planning
(b) Limitation of Planning
(c) Characteristics of Planning
(d)Method of Planning - A network of social relationship that arises spontaneously due to interaction is called _________________.
(a) Informal Organisation
(b) Formal Organisation
(c) Decentralisation
(d) Delegation - For delegation to be effective it is essential that responsibility be accompanied with necessary
(a) Authority
(b) Man power
(c) Incentives
(d) Promotion - Which of the following does not follow the scalar chain?
(a) Functional Structure
(b) Divisional Structure
(c) Formal Organisation
(d) Informal Organisation - Centralisation refers to __________________
(a) Retention of decision-making authority
(b) Dispersal of decision-making authority
(c) Creating division as profit center
(d) Opening new center of branches - The doctrine of management by objective is introduced by ________________.
(a) Peter Drucker
(b) Elton Mayo
(c) Henry Fayol
(d) Mac Gregor - Taylor differential piece rate system is related to ________________.
(a) Time wage system
(b) Piece wage system
(c) Incentive wage system
(d) Non-monetary incentive system - Henry Ford is noted for his contribution to ____________________.
(a) Standardisation of parts
(b) Statistical quality control
(c) Assembly line operation
(d) Scientific management - Developmentally oriented relationship between senior and junior colleagues or peers that involves advising, role modelling, etc. is termed as _________________.
(a) Mentoring
(b) Coaching
(c) Tutoring
(d) Poaching - Generation of critical incidents is a characteristic feature of ______________.
(a) Graphic rating scale method
(b) Behaviorally anchored rating scales
(c) Balanced Scorecard
(d) MBO - Thinking and doing is clearly demarcated in __________________.
(a) Line organisation
(b) Line and staff organisation
(c) Functional organisation
(d) Matrix organisation - Matrix organisation;
(a) Eliminates problem of choice
(b) Combines functional depart mention with product or project organisation
(c) Depends too much on exports
(d) Gives direction to subordinates - An HR Manager acts in ______________.
(a) Advisory role
(b) Supervisory role
(c) Dignitary role
(d) Value added role - The type of planning that deals with planning of people in the organisation and the work they are likely to do, and how much they are likely to be paid, is called ________________.
(a) Strategic planning
(b) Tactical planning
(c) Workforce planning
(d) Operational planning - Which one is not covered by the process of human resource planning
(a) Job analysis
(b) Job description
(c) Job specification
(d) Job design - Which are the additional three elements of services marketing mix?
(a) Participants, physical evidence, products
(b) People, physical evidence, process
(c) People, product, process
(d) People, physical evidence, placement - A ______________ is a name, term, sign, symbol, or combination of them which is intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors;
(a) Trademark
(b) Patent
(c) Signature
(d) brand - ______________ occurs when imports are being sold at an “unfair” price.
(a) Price fixing
(b) Dumping
(c) Gray marketing
(d) Predatory pricing - Identify the incorrect statement regarding the product life cycle.
(a) Profits from products remain same across the different stages of the product lifecycle
(b) Products usually have a limited life
(c) Each stage of product life cycle presents different opportunities and problems to the seller
(d) At each stage, the product requires different functional strategies - When a new product can be easily duplicated, _____________ is a better alternative for introducing the new product and when the product is very distinct from competitive offerings, ________________ is the better alternative.
(a) Penetration, Skimming
(b) Skimming, Skimming
(c) Penetration, Penetration
(d) Skimming, Penetration - Car manufacturers like, Honda create several sub brands linked to the main brand like Honda City, Honda Jazz, Honda Brio etc. This is an example of:
(a) Umbrella branding
(b) Co-branding
(c) Line extension
(d) Ingredient branding - If product quality of a firm is low and the price charged is high, the firm is said to follow a;
(a) Premium Strategy
(b) High value Strategy
(c) Cheap-value Strategy
(d) Exploitative Strategy - Training service employees is a part of _________________ while advertising of the service through television is an example of ____________________.
(a) Internal marketing, external marketing
(b) Interactive marketing, external marketing
(c) Interactive marketing, internal marketing
(d) External marketing, interactive marketing - The techniques of studying the goals, strengths, shortcomings, and strategies of competitors are classified as _________________.
(a) Premium analysis
(b) Competitor analysis
(c) Brandling analysis
(d) Corporate analysis - The marketing process starts with ____________________.
(a) Segmentation
(b) Promoting a service product
(c) Pricing a service/product d
(d) Distribution planning - During the recessionary phase of a business cycle __________________.
(a) The natural rate of unemployment will increase dramatically
(b) Potential national income will exceed actual national income
(c) Actual national income will exceed potential national income
(d) The real rate of interest will exceed the nominal rate of interest - Which of the following is not included in current account?
(a) Factor income payment
(b) Goods and service
(c) FDI inflows
(d) Unilateral transfers - Given Real GDP 8.25%, Nominal GDP 11.25%, Rate of Inflation will be _______________.
(a) 2.5%
(b) 3%
(c) 4.25%
(d) 3.25% - _____________ refers to investment in foreign countries that are withdraw able at short notice (such as investment in foreign stocks and bond).
(a) Direct investment
(b) International Investment
(c) Demand investment
(d) Portfolio investment - A ______________ operation (with respect to wholly owned subsidiaries) is one which is started from scratch.
(a) Joint venture
(b) Piggyback
(c) Greenfield
(d) franchise - Which one of the following is a cash asset?
(a) Bank deposits
(b) Share
(c) Bond
(d) Post office certificate - The component a capital market is;
(a) Treasury bill market
(b) Stock Market
(c) Commercial bill market
(d) Call money market - ______________ is a marketable receipt in bearer or registered form of funds deposited in banks for a specified period at a specified rate of interest.
(a) Commercial Paper
(b) Cash Management Bill
(c) Certificate of Deposit
(d) Treasury Bill - Consider a 10 year 7% annual coupon bond with Face Value = $ 1,000 and required rate of return of 11%. Which of the following is the closest approximation to the value of the bond?
(a) $356.49
(b) $358.07
(c) $764.43
(d) $805.15 - The market which helps commercial banks to maintain their SLR requirement is called _____________.
(a) Call money market
(b) Discount market
(c) Acceptance market
(d) Commercial bill market - Bill drawn and accepted payable after three months are called;
(a) Indigenous bills
(b) Usance bills
(c) Accommodation bills
(d) Supply bills - In India, the company which actually deals the corpus of the mutual fund is called;
(a) Sponsor company
(b) Trustee company
(c) Asset management company
(d) Mutual fund company - Equilibrium relates to _________________.
(a) Market condition which oscillate
(b) Market state of falling price
(c) Market condition of rising price
(d) Market condition which once achieved tends to persist - Which of the following issue relates to micro-economics
(a) Impact of crude price hike oninflation
(b) Impact of change in bank rate on bank saving and investment
(c) Impact of Information technology on economic growth
(d) Impact of shortage of wheat production on - The opportunity cost of consumption is;
(a) Lack of capital formation for future
(b) Greater investment
(c) Full employment
(d) Deflation - The difference between Gross National Product (GNP) and Gross Domestic Product (GDP) is _______________.
(a) Excess of subsidies over indirect taxes
(b) Depreciation
(c) Net foreign income from abroad
(d) Excess of indirect taxes over subsidies - During the recessionary phase of a business cycle____.
(a) The natural rate of unemployment will increase dramatically
(b) Potential national income will exceed actual national income
(c) Actual national income will exceed potential national income
(d) The real rate of interest will exceed the nominal rate of interest - When a firm enters the law of diminishing returns to scale;
(a) TVC curve begins to fall at an increasing rate
(b) TVC curve begins to increase at an increasing rate
(c) TVC curve begins to fall at an decreasing rate
(d) TVC curve begins to increase at an decreasing rate - An increase in price will result in no change in total revenue if ______.
(a) Percentage change in price equal the percentage change in price
(b) Percentage change in demanded is more than the percentage change in price
(c) Percentage change in price is less than percentage change in demand
(d) Change in price is more than change in demand in absolute terms - If the cross elasticity between two products is positive than we can say that;
(a) The products are perfectly substitute of each other
(b) The products are complementary to each other
(c) Both the products are unrelated
(d) Both are luxury items - According to low of supply _____________.
(a) Higher the price higher the production of the product
(b) Higher the price lower the cost of production
(c) Lowe the price lower the demand the product
(d) Higher the price higher the quantity the seller is prepared to supply in market - Two commodities X and Y goods can be inferred as close substitute of each other if —
(a) Increase in price of one leads in increase in demand of other and vice-versa
(b) Increase in price of one leads to decrease in demand of other and vice-versa
(c) Fall in price of one lead to fall in demand of other one
(d) Increase in price of one leads to increase in demand of other one - Which of these is primary sector?
(a) Communication
(b) Banking
(c) Construction
(d) Poultry firming - Which of the following is not the function of World Trade Organisation?
(a) To settle border disputes of member countries
(b) To handle trade disputes
(c) To provide technical assistance and training to developing countries
(d) To provide forum for trade negotiation between the member countries - Which is the apex bank for agricultural credit in India?
(a) RBI
(b) SIDBI
(c) NABARD
(d) IDBI - Which of these is not the function of IMF?
(a) It provides mechanism for orderly adjustment of exchange rate
(b) It provides mechanism for international consultation
(c) It provides form for settlement of international trade disputes
(d) It is a reservoir of the currencies of all the member countries - Which of these is not the function of World Bank?
(a) To arbitrate on international trade disputes
(b) To help the member countries in the reconstruction and development of their countries
(c) To encourage private foreign investment and credit by guaranteeing repayment
(d) To promote long-term balanced growth of international trade - Choose the word opposite in meaning to the given word:
AMALGAMATE
(a) Convulse
(b) Coagulate
(c) Separate
(d) Withhold - Choose the word opposite in meaning to the given word:
LANGUOR
(a) Sedentariness
(b) Lassitude
(c) Vigour
(d) Tranquility - Identify the meaning of the following word;
BURGEONING
(a) Spiritual
(b) Mutation
(c) Proliferate
(d) Evidence - Architect is related to Building as Sculptor is related to ______________
(a) Stone
(b) Museum
(c) Statue
(d) Talent - Facebook is currently _______________ in a debate over its decision to allow political campaigns to push ads containing mis information;
(a) Obsolete
(b) Exculpated
(c) Embroiled
(d) Upended