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UP PGT Commerce – 2021 Series D

1. Excess of face value over issue price of a share is called
   (a) Profit
   (b) Discount
   (c) Loss
   (d) Security premium
2. Scalar chain principle had been given by
   (a) F.W. Taylor
   (b) Henry Fayol
   (c) Elton Mayo
   (d) Max Weber
3. In what order do managers perform the managerial functions?
   (a) Planning, organizing, controlling, directing
   (b) Organising, planning, directing, controlling
   (c) Organising, directing, planning, controlling
   (d) Planning, organizing, directing, controlling
4. On dissolution of a firm, the assets of firm transferred to realization account at their
   (a) Book value
   (b) Market value
   (c) Realizable value
   (d) Agreed value among partners
5. Which of the following is not included in Agricultural Income?
   (a) Income from growing flowers
   (b) Rent of agriculture land for agriculture work
   (c) Income from purchasing of standing crop
   (d) Income from agriculture work
6. When shares are forfeited, share capital account is debited by
   (a) Face value of shares
   (b) Called up amount of shares
   (c) Paid up value of shares
   (d) Unpaid amount of shares
7. According to the Malthusian theory of population
   (a) Population increases arithmetically
   (b) Food production increases geometrically
   (c) Population increases geometrically
   (d) Both (a) and (b)
8. With the help of following information calculate provisions for bad and doubtful debts
   Debtors M : Rs. 3,200 Bad to be written of
   Debtors N : Rs. 8,000 expected to realise only 70%
   Debtors O : Rs. 6,000 expected to a realise only 60%
   Debtors P : Rs. 4,000 financial condition very poor, no recovery is likely
   (a) Rs.8,800
   (b) Rs. 12,000
   (c) Rs. 4,800
   (d) Rs. 4,000
9. On 31st March 2009, total debtors are Rs. 25,000 and bad debts are Rs.1,000, so if rate of discount on debtors is 2% and rate of provision for bad debts is 5% then the amount of discount of debtors will be
   (a) Rs. 456
   (b) Rs. 475
   (c) Rs. 480
   (d) Rs. 500
10. Collection from debtors
    (a) Decreases current ratio
    (b) Increases current ratio
    (c) Has no effect on current ratio
    (d) Improves the solvency ratio
11. 11. The form of organisation in which expert assistance is available to line manager is called
    (a) Line organisation
    (b) Committee organisation
    (c) Functional organisation
    (d) Line and Staff organisation
12. Inventory turnover ratio is
    (a) Activity Ratio
    (b) Profitability Ratio
    (c) Solvency Ratio
    (d) Liquidity Ratio
13. Which among the following is not a technique of Business Forecasting?
    (a) Time Series Analysis
    (b) Variance Analysis
    (c) Regression Analysis
    (d) Input Output Analysis
14. Security premium is a
    (a) Capital receipt
    (b) Revenue receipt
    (c) Personal receipt
    (d) Current liability
15. Break-Even Point is
    (a) Where total revenue equals total costs
    (b) Where total revenue equals total fixed cost
    (c) Where total revenue equals total variable cost
    (d) Where total revenue exceeds that total costs
16. From the following details calculate the taxable income of ‘A’ assuming that he is a ‘Not Ordinarily Resident’
    Received Rs. 1,000 in India, which accrued in England
    Rs. 6,000 was untaxed foreign income of some earlier years which was brought to India during previous year
    Rs. 2,000 earned in India but received in England
    Rs. 10,000 earned and received in Africa but brought to India
    (a) Rs.19,000
    (b) Rs.12,000
    (c) Rs.9,000
    (d) Rs.3,000
17. The cause of increases in cost per unit under process costing is
    (a) Abnormal wastage
    (b) Normal wastage
    (c) Abnormal gain
    (d) Normal gain
18. The bad debts that have been written of, if recovered subsequently then they are credited to
    (a) Debtors account
    (b) Sales account
    (c) Trading account
    (d) Profit and loss account
19. Convert the annual treat trend equation “Y = 30 + 3.6X” into monthly trend equation
    (a) Y=2.5 + 0.3X
    (b) Y=2.5 + 0.025X
    (c) Y=30 + 0.3X
    (d) Y=2.5 + 3.6X
20. The process of selecting a course of action out of alternative courses to solve a problem is known as
    (a) Planning
    (b) Decision Making
    (c) Directing
    (d) Controlling

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