Monday, January 31, 2011
COMMERCE QUESTIONS FOR PSC EXAMS
1. Unpaid calls are shown in the balance sheet of a Company:
(a) by adding it to the share capital
(b) by deducting it from the called-up share capital
(c) under the head, ‘Current assets’
(d) under the head ‘Current liabilities’
Ans. (b)
2. Part-II Schedule VI to the Companies Act, 1956, prescribes:
(a) vertical form of balance sheet
(b) requirements as to profit and loss account
(c) horizontal form of balance sheet
(d) contents of prospectus
Ans. (b)
3. X Ltd. forfeited 30 shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These shares are re-issued for Rs. 8 per share fully paid.
What is the amount to be transferred to Capital Reserve Account?
(a) Rs. 300
(b) Rs. 60
(c) Rs. 30
(d) Rs. 90
Ans. (c)
4. Right’s shares are the shares that are offered to the:
(a) directors of the company
(b) debenture holders
(c) existing shareholders
(d) creditors of the company
Ans. (c)
5. Pro-rata allotment of shares means allotment of shares:
(a) equally amongst the applicants
(b) at the discretion of the Directors
(c) to all the applicants in proportion to the shares applied for
(d) to only a few selected applicants
Ans. (c)
6. Interest on calls in arrears is charged according to Table A of Schedule I to the Companies Act 1956 at the rate of:
(a) 5% p.a.
(b) 6% p.a
(c) 12% p.a.
(d) 10% p.a.
Ans. (a)
7. The best definition of ‘Capital employed’ in calculating the rate of return on investment is:
(a) current assets + gross fixed assets
(b) current assets + net fixed assets
(c) working capital + gross fixed assets
(d) working capital + net fixed assets
Ans. (d)
8.Match list-I with list-II and select the correct answer using the Code given below the lists:
List—I List—II
A. Acid test ratio 1. Liquidity ratio
B. Gearing ratio 2. Profitability ratio
C. Working capital turnover ratio 3. Leverage ratio
D. Return on capital employed 4. Long-term solvency ratio
5. Activity ratio
Codes:
A B C D
(a) 1 3 5 2
(b) 2 5 1 3
(c) 1 5 4 2
(d) 5 3 4 1
Ans. (a)
9. Collection of sundry debtors would:
(a) increase current ratio
(b) decrease current ratio
(c) have no effect on current ratio
(d) increase debtors’ turnover
Ans. (c)
10. A company with a paid up capital of 5000 equity shares of Rs. 10 each has a turnover of four times with a margin of 8% on sales. The ROI of the company will be:
(a) 28%
(b) 32%
(c) 35%
(d) 42%
Ans. (b)
11. The ratios which measure the relative contribution of financing by owners and financing provided by outsiders are called:
(a) liquidity ratios
(b) leverage ratios
(c) activity ratios
(d) profitability ratios
Ans. (b)
12. The debt equity ratio of a company is 8: 1. It was decided to issue bonus shares in the ratio of 1: 2. The debt : equity ratio after the issue of bonus shares would be:
(a) 8: 1
(b) 4: 1
(c) 1:8
(d) 1:4
Ans. (a)
13. Which of the following transaction(s) will improve the Current Ratio?
1. Bills receivable dishonored
2. Cash collected from customers
3. Issue of new shares
4. Payment of preliminary expenses by way of equity shares
Select the correct answer using the Code given below:
Code:
(a) 1, 2 and 3
(b) 4 alone
(c) 3 alone
(d) 2 and 4
Ans. (c)
14. Which one of the following statements is NOT correct?
A high gross profit margin ratio is the result of:
(a) higher sales prices, cost of goods sold remaining constant
(b) lower cost of goods sold, sales price remaining constant.
(c) an increase in the proportionate volume of higher margin items
(d) increase in the sales return, cost of goods sold remaining the same
Ans. (d)
15. Credit sales of a company during the year are Rs. 1,20,000; Debtors Rs. 20,000 and bills receivables, Rs. 10,000. The average collection period is:
(a) 3 months
(b) 4 months
(c) 5 months
(d) 6 months
Ans. (a)
16. While calculating the net present value under
discounted cash flow method of return on investment
analysis, the c4lculations involved are:
1. Cash outflow
2. Discounted net cash flow
3. Cash inflow
4. Net present value
The correct sequence of these calculations is:
(a) 4, 1, 3, 2
(b) 1, 3, 2, 4
(c) l, 2, 3, 4
(d) 3, 1, 4, 2
Ans. (b)
17. Ajoy Ltd. makes a net profit of Rs. 1,00,000, after providing for depreciation on assets amounting to Rs. 20,000 and writing off preliminary expenses amounting to Rs. 10,000 and gain of Rs. 5,000 on sale of a piece of machinery. Funds from operation of Ajoy Ltd. would be:
(a) Rs. 1,00,000
(b) 1,20,000
(c) Rs. 1,25,000
(d) 1,35,000
Ans. (b)
18. Match List-I with List-II and select the correct answer using the Code given below the lists:
List-I List-II
A. Net loss from operations 1. Source of funds
B. Changes in working capital 2. Drain of working capital
C. Depreciation 3. Flow of Funds
D. Issue of fully paid bonus shares 4. Neither source nor application of funds
Code:
A B C D
(a) 3 2 1 4
(b) 2 3 4 1
(c) 2 3 1 4
(d) 3 2 4 1
Ans. (c)
19. Which one of the following statements is correct?
(a) A decrease iii current liabilities causes an increase in the working capital
(b) An increase in current liabilities causes a decrease in the working capital
(c) A decrease in the current assets causes an increase in the working capital
(d) An increase in the current assets causes a decrease in the working capital
Ans. (a)
20. Match List-I (Type of audit) with List-II (Purposes) and select the correct answer using the Code given below the lists:
List-I List-II
A. Continuous audit 1. To ensure efficient conduct of the business and prevent
wastage
B. Periodical audit 2. Detailed examination of the books of accounts at regular
intervals capital
C. Interim audit 3. Audit taken up at the close of the financial period
D. Internal audit 4. Audit conducted between the ends of two financial period
Codes:
A B C D
(a) 1 3 4 2
(b) 2 3 4 1
(c) 3 2 1 4
(d) 3 1 2 4
Ans. (b)
21. Match List-I (Items) with List-II (Section of Companies Act, 1956) and select the correct answer using the Code given below the lists:
List-I List-II
A. Appointment of Auditors by Central Government 1. Sec. 22 (1)
B. Qualification of Auditors 2. Sec. 224 (5)
C. Appointment of Auditors by Board of Directors 3. Sec. 224 (8)
D. Remuneration of Auditors 4. Sec. 224 (3)
Code:
A B C D
(a) 4 1 3 2
(b) 1 4 2 3
(c) 4 1 2 3
(d) 1 4 3 2
Ans. (c)
22. Special audit of the accounts of a company is directed by:
(a) shareholders of the company
(b) Comptroller and Auditor General, of India
(c) Company Law Board
(d) Central Government
Ans. (d)
23. The author of the books ‘Suma de Arithmetica ‘is:
(a) H. A. Cassel
(b) Luca Paciolli
(c) Adam Smith
(d) Batliboi
Ans. (b)
24. Vouching may be termed as:
(a) identification of the documentary evidence supporting the transaction
(b) verification of the document supporting the transaction
(c) authentication of the document supporting the transaction
(d) verification of the accuracy and authenticity of the transaction
Ans. (d)
25. Interim audit refers to n audit conducted:
(a) in two different accounting years
(b) in between two statutory annual audits within the same accounting period
(c) in between one statutory audit and an internal audit in the same accounting period
(d) in between one statutory audit, one management audit and one internal audit
Ans. (b)
26. Various plans that an organization may formulate are for—purpose or mission, objective, strategies, policies, rules and procedures, programmes or projects and budget. These can be arranged in a hierarchy because higher level plans give/generate lower level plans. -
Identify the correct order according to hierarchy of plans from amongst the following:
(a) Purpose or mission, objective, strategies, policies, rules and procedures, programmes or projects and budget
(b) Budget, objectives, policies, rules and procedures, purpose or mission, strategies and programmes or – projects
(c) Purpose or mission, objectives, policies, strategies, programmes or projects, budget, and rules and procedures
(d) Strategies, objectives, policies, purpose or mission, programmes or projects, rules and procedures, and budget
Ans. (c)
27. What is the correct sequence of the following aspects in auditing?
1. Special audit
2. Internal audit
3. Internal check
4. Annual audit
Select the correct answer using the Code given below:
Code:
(a) 1, 3, 2, 4
(b) 3, 4, 1, 2
(c) 3, 2, 4, 1
(d) 1, 2, 3, 4
Ans. (c)
28. Test checking reduces the:
(a) powers of an auditor
(b) expenses of audit
(c) work of an auditor
(d) liability of an auditor
Ans. (c)
29. Management audit refers to:
(a) examination of books and audit of accounts done by the management
(b) the periodic assessment of company’s activities by the statutory auditor
(c) periodic assessment of company’s managerial planning, organizing, actuating and controlling compared to norm of successful operation
(d) auditor’s assessment of the financial statement of the entity
Ans. (c)
30. Consider the following documents:
1. Audit Notebook
2. Audit Programme
3. Audit Report
4. Audit Files
The correct sequence, in which an auditor prepares these documents is
(a) 2, 1, 4, 3
(b) 1, 2, 3, 4
(c) 2, 1, 3, 4
(d) 1, 2, 4, 3
Ans. (a)
31. The most important objective of internal audit, is:
(a) early detection of errors and frauds
(b) facilitating final audit
(c) early finalization of annual accounts
(d) ensuring systematic accounting
Ans. (a)
32. Section 224 of the Companies Act, 1956 deals with:
(a) special audit
(b) secretarial audit
(c) cost audit
(d) appointment and remuneration of auditors
Ans. (d)
33. An arrangement in which the accounting work of each individual is checked by other members is
known as:
(a) internal audit
(b) external audit
(c) internal check
(d) test checking
Ans. (c)
34. The main purpose of an independent audit is to:
(a) check and correct frauds and errors
(b) help in detecting frauds and errors
(c) determine if the financial statements fairly represent the actual financial position and the working results of the organization
(d) help in formulating future plans
Ans. (c)
35. Consider the following statements:
I. Foreign institutional investors have been allowed to invest in Mutual Funds
2. The main objective of SEBI is to protect the investors
3. Private placement is the route through which Promoters’ contribution is mobilized by a public company
4. RBI lays down the guidelines governing the capital market operation
Of these statements:
(a) 1 and 2 are correct
(b) 2, 3 and 4 are correct
(c) 1, 2 and 3 are correct
(d) 1, 3 and 4 are correct
Ans. (b)
36. Dow and Jones, now popularly known as ‘Dow-Jones’ in the stock market parlance, were the:
(a) first financial journalists
(b) first bull operators in the New York Stock Exchange
(c) first to predict the Great Depression
(d) architects of shop-floor trading
Ans.(b)
37. The primary function of Stock Exchange is to:
(a) mobilize savings from the public for long-term investment
(b) offer a secondary market for shares and other securities
(c) facilitate barter deals between buyer and seller holding different securities -
(d) enable Reserve Bank of India to trade in Government securities in their efforts to control money supply in the economy
Ans. (b)
38. Consider the following statements:
A mutual fund helps the ‘investor in securing:
1. professional management
2. diversification of risk
3. steady appreciation
4. lower cost of operation
Of these statements:
(a) 1, 2, 3 and 4 are correct
(b) 1, 2 and 4 are correct
(c) 2 and 3 are correct
(d) 3 and 4 are correct
Ans. (a)
39. Which of the following pairs are correctly matched?
1. Cooperative movement in India : Nanavahi Committee
is breast-fed, bottle-fed and spoon-fed
2. Tax on sole proprietor and partnership : Direct Taxes, Enquiry Committee
firm’s needs rationalization
3. Capital market in India is tightly controlled : Narasimham Committee
by the Government
Select the correct answer using the Code given below:
Code:
(a) 1, 2 and 3
(b) 1 and 3
(c) 2 and 3
(d) 1 and 2
Ans. (a)
40. “Arbitrage” means:
(a) a business arrangement by which al share broker tries to take advantages of different in ‘Spot’ and ‘Futures’ prices of a share
(b) a business arrangement in which a share broker tries to take advantage of difference in prices between two Stock Exchange centers on a particular share
(c) an arbitration proceedings that is invoked by either the buyer or the seller when he other party is unable to meet its commitment
(d) a compromise arrangement by which the transaction is postponed to the next settlement date
Ans. (b)
41. Which one of the following sets is correct with regard to liberalization in financial sector?
(a) Globalization, devaluation and privatization
(b) Deregulation, moral suasion branch expansion
(c) Privatization, computerization and standardization
(d) Globalization, deregulation and privatization
Ans. (b)
42. Which of the following are the means of marketing new issues of securities?
1. By listing of securities
2. Through jobbers and brokers
3. By private placing of securities
4. Through privileged subscription
Select the correct answer using the Code given below:
Code:
(a) 1 and 2
(c) 3 and 4
(b) 1,2 and 3
(d) 1, 2, 3 and 4
Ans. (d)
43. Narasimham Committee has, apart from other things, recommended:
(a) expanding priority sector financing
(b) restricting priority sector-financing
(c) asking new foreign and private sector banks to follow the existing norms for priority Sector financing
(d) total elimination of priority sector financing
Ans. (b)
44. Prospectus issued by a company is to be vetted and approved by the SEBI. This, however, does not mean that:
(a) disclosures are adequate as per its guidelines
(b) project proposal has been presented in conformity with its guidelines
(c) disclosures are adequate to take an informed decision by investors
(d) project proposal is sound or satisfactory
45. Commercial papers represent a new financial instrument issued for the purpose of:
(a) project financing
(b) working capital
(c) leasing of plant and equipment
(d) import of capital goods
Ans. (b)
46. Match List-I (Forms of business organization) with List-II (Distinctive characteristics) and select the correct answer using the Code given below the lists:
List-I List-II
A. Joint Hindu Family Firm 1. Association of persons for their common interests
B. Public Enterprise 2. Ownership and control by Government
C. Section 25 of Company 3. Ownership by coparceners
D. Co-operative organization 4. Limited company formed for promoting
art, commerce, science etc.
Codes:
A B C D
(a) 3 2 1 4
(b) 1 3 2 4
(c) 3 2 4 1
(d) 1 3 4 2
Ans. (c)
47. Does modernization of industrial enterprises call for mechanization?
(a) Yes, because manual labour alone cannot deliver the goods
(b) Yes, because mechanization holds the key to industrial success in most developing countries
(c) No, because it is rationalization and not mechanization that holds the key to modernization and higher productivity in the industrial sector
(d) No, because it is mechanization will aggravate the unemployment situation in the country and will ultimately result in the collapse of the economy
Ans. (a)
48. In the absence of an agreement to the contrary, the partners are:
(a) entitled to 6% interest on their capitals, only when there are profits
(b) entitled to 9% interest on their capitals, only when there are profits
(c) entitled to interest on capital at the bank rate, only when there are profits
Ans. (d)
49. Match List-I (landmark case) with List-II (the legal point established by that case) and select the correct answer using the Code given below the lists:
List—I List—II
A. Solomon vs. Solomon 1. The scope and limits of the Objects
Clause
B. Ewing vs. Butter Cup Margarine Co. Ltd. 2. A company should not be registered
with a name which resembles the
name of an existing Co.
C. Ashbury Rail Carriage & Iron Co. vs. Ritchie 3. Company is a distinct entity,
different from its members
D. Royal British Bank vs. Turquand 4. Limitation to the Doctrine of
constructive notice
5. Doctrine of Indoor Management
Codes:
A B C D
(a) 2 3 1 4
(b) 3 2 4 5
(c) 3 2 1 4
(d) 2 3 4 5
Ans. (b)
50. Which one of the following is NOT applicable to a .Co-operative form of business organization?
(a) Major portion of profit is distributed to members by way of dividend
(b) Policy decisions are taken by the members in a General Meeting
(c) Membership is open to all having a common interest
(d) It is formed generally by the artisans and consumers of limited means
Ans. (d)
COMMERCE QUESTIONS FOR PSC EXAMS
1. Sree media Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was—building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 1 5000 equity shares of Rs. 10 each.
How much was the flow of funds in the above transaction?
(a) Rs. 2,30,000
(b) Rs. 1,00,000
(c) Rs. 50,000
(d) Rs. 30,000
Ans. (d)
2. What are the aspects to be considered while qualifying the audit report on the accounts of a company?
1. An item requiring specific disclosure under the Companies Act is not so disclosed
2. Where the auditor has not been able to form an opinion due to his inability to obtain sufficient, appropriate evidence information and explanation
3. An auditor realizes that items in a financial statement are misstated to such an extent that the financial statement does not give a true and fair view
Select the correct answer using the Code given below:
Code:
(a) 1 only
(b) 1 and 2
(c) 2 and 3
(d) 1, 2 and 3
Ans. (d)
3. Analytical review by an auditor mainly includes:
(a) examining vouchers and other documents
(b) physical verification of assets
(c) examining day books with ledgers
(d) study of ratios and trends
Ans. (d)
4. Statements on Standard Auditing Practices (SAPs) are important while discharging the auditing function by a member of the ICAI in case of a company, because SAPs are:
(a) prescribed by the ICAI
(b) contained in the Companies Act, 1956
(c) approved by the Department of Company Affairs
(d) approved by the Central Government in consultation with Comptroller and Auditor-General
Ans. (a)
5. Which audit is carried out during the accounting period with some interval, it is called:
(a) periodic audit
(b) partial audit
(c) continuous audit
(d) interim audit
Ans. (c)
6. Which one of the following pairs is NOT correctly matched?
(a) Suppression of invoices : Window dressing
(b) Overcharging depreciation : Secret reserves
(c) Omission of cash receipts from debtors : Understatement of sales
(d) Omission of credit sale : Understatement of debtors
Ans. (a)
7. Internal audit report is submitted to:
(a) Government
(b) Shareholders
(c) Creditors
(d) Board of Directors
Ans. (d)
8. The main purpose of auditing is to:
(a) detect accounting offences and to punish the offender
(b) prepare and authenticate the accounts
(c) prepare the accounts and authenticate their true and fair view
(d) certify the financial position of the business
Ans. (d)
9. Every auditor appointed under Section 224 (1) of the Companies Act, 1956 shall inform in writing as to whether he has accepted or refused to accept the appointment. Such an intimation shall be given by him to the
(a) company within 30 days of receipt from the company of the intimation of his appointment
(b) Company Law Board within 30 days of receipt from the company of the intimation of his appointment
(c) company within 7 days of receipt from the company of the intimation of his appointment
(d) Registrar within 30 days of receipt from the company of the intimation of his appointment
Ans. (d)
10. If an auditor does something wrongfully in the performance of his duties resulting in financial loss to the company, he will be held guilty of:
(a) civil negligence
(b) misfeasance
(c) criminal negligence
(d) financial irregularity
Ans. (b)
11. Audit Committee shall act in accordance with the terms of reference to be specified by:
(a) Statutory Auditors
(b) SEBI
(c) Board of Directors
(d) Central Government
Ans. (c)
12. The selection of items, to be included in the audit on a subjective basis without consideration of sample size of method of selection, is:
(a) probability sampling
(b) systematic sampling
(c) random sampling
(d) judgment sampling
Ans. (a)
13. The scope of audit in a partnership firm is governed by:
(a) partnership act
(b) partnership deed
(c) agreement between partnership firm and auditor
(d) number of partners of the firm
Ans. (c)
14. While establishing the statistical sampling plan, the degree of precision required is determined by:
(a) keenness of the management
(b) suitability of accounting systems and. procedures
(c) allowable margin of error the auditors are willing to accept
(d) random number table used for the purpose
Ans. (d)
15. Match List- I with List -II and select the correct answer using the Code given below the Lists:
List—I List—II
A. Inspection of books of account under 1. Central government
Section 209A of the Companies Act, 1956
B. Constitution of National Advisory Committee 2. Registrar of Companies
on Accounting Standards
C. Books of account 3. Registered office
D. Reasons for failure to buy back shares 4. The ICAI
5. Directors’ Report
Code:
A B C D
(a) 2 1 3 5
(b) 3 1 2 4
(c) 2 4 3 5
(d) 3 4 2 1
Ans. (c)
16. The scope of ‘management audit’ is determined by the:
(a) shareholders
(b) Board of Directors
(c) Comptroller and Auditor-General (C & AG)
(d) Comptroller and Auditor-General in consultation with the Central Government
Ans. (b)
17. In the case of an auditor appointed under Section 619 of the Companies Act, 1956 by the Comptroller and Auditor-General of India, the remuneration shall be fixed by the
(a) company in general meeting
(b) comptroller and Auditor-General of India
(c) comptroller and— Auditor-General of India consultation with the Central Government
(d) Company Law Board
Ans. (d)
18. Test checking reduces:
(a) the work of an auditor
(b) tie liability of an auditor
(c) both work and liability of an auditor
(d) the remuneration of an auditor
Ans. (a)
19. X is proposed to be appointed as the auditor of ABC Co. Ltd. at the ensuing AGM in place of the retiring auditor Y. This requires:
(a) a special resolution and approval of the Company Law Board
(b) a special notice
(c) an ordinary resolution and approval of the Company Law Board
(d) a special resolution and approval of Central Government
Ans. (b)
20. Test checking of entries in the audit work refers to:
(a) the internal checks
(b) the internal controls
(c) checking some sample items from a large number of similar items
(d) checking the cash flow of business
Ans. (c)
21. The First Standard Auditing Practice (SAP-I) is related to:
(a) objectives and scope of the audit of financial statements
(b) basis principles governing an audit
(c) documentation
(d) detecting fraud and error
Ans. (a)
22. Which of the following relating to Audit’ Programme is NOT correct?
(a) The auditor cannot defend himself on the basis of audit programme if there is a charge of negligence against him
(b) it is useful basis for planning the programme for ‘the subsequent year
(c) It helps in the final review before the report is signed
(d) it simplifies the allocation of work amongst the audit staff
Ans. (a)
23. Who is ‘bull’?
(a) A stock broker who deals or specializes in a few shares
(b) An investor who sells securities in anticipation of being able to re-buy them later at a lower price
(c) An investor who buys securities in anticipation of being able to sell them at a higher price
(d) An investor who expects the price of a security or of the market as a whole to fall
Ans. (c)
24. Commercial paper is a:
(a) long-term corporate security meant for small investors
(b) medium-term corporate security meant for institutional investors
(c) treasury paper meant for corporate investors
(d) short-item corporate security meant for large-scale investors
Ans. (c)
25. A cartel is a combination of firms:
(a) which are functioning in a particular industry
(b) whose combined assets are worth more than 90% of total assets of the industry
(c) who control major chunk of the market
(d) whose combined profits are enormous
Ans. (d)
26. Social responsibility of business assumes considerable importance towards:
(a) owners and workers
(b) consumers and community
(c) government and nation
(d) All the above
Ans.(d)
27. The distinctive characteristic of ‘perpetual succession’ of a joint stock company refers to:
(a) uninterrupted business in spite of continuous losses
(b) immunity from government direction for the closure of the company
(c) immunity from resolution passed in the annual general body meeting for closure of the company
(d) uninterrupted existence not affected by the death or insolvency of members of the company
Ans. (d)
28. A statutory corporation is one which comes into being
by:
(a) registration under Companies Act, 1956
(b) virtue of enactment of a Special Act
(c) registration under any enforceable Act operating in India
(d) the entrepreneurial effort of the government
Ans. (d)
29. Consider the following statements:
An unregistered partnership firm suffers from the following disabilities4.
1. A partner of such firm cannot file a suit for the dissolution of the firm
2. The firm cannot file a suit against any third party for realization of its dues
3. A partner cannot file a suit against any other partner to enforce any right arising out of partnership deed
Which of the above statements are correct?
(a) 1, 2 and 3
(b) 1 and 3
(c) 1 and 2
(d) 2 and 3
Ans. (d)
30. Exim Bank of India provides financial assistance to exporters and importers in India:
(a) in foreign currency only
(b) both in Indian currency and foreign currencies
(c) as zero-interest loans
(d) as subsidies
Ans. (d)
31. In life insurance, the risk insured is:
(a) certain to occur and also the timing of its occurrence is known
(b) certain to occur, but its timing of its occurrence is not known
(c) not certain to occur and also the timing of its occurrence is not known
(d) not likely to occur
Ans. (c)
32. The national re-insurer in India is:
(a) General Insurance Corporation of India
(b) United India Insurance Company Ltd.
(c) Insurance Regulatory and Development Authority
(d) Oriental Fire and General Insurance Company Ltd.
Ans. (a)
33. Which one of the following risks is not insured by the Export Credit and Guarantee Corporation?
(a) The risk of non-payment by the foreign buyer
(b) The risk that the importer may return the goods on the ground of lower quality
(c) The political risk that the import license may be revoked
(d)The risk of war, revolution, etc.; in the buyer’s country
Ans. (b)
34. Which one of the following indicates the correct chronological order of the ‘system’ designed for purchasing ‘office supplies’?
(a) Select sources of supply, initiate requisition, order supplies, receive supplies and pay vendor
(b) Initiate requisition, order supplies, select sources of supply, receive supplies and pay vendor
(c) Select sources of supply, initiate requisition order supplies, pay vendor and receive supplies
(d) Initiate requisition, select sources of supply, order supplies, receive supplies and pay vendor
Ans. (b)
35. Which one among the following is an instance of Participative Management?
(a) Board of Directors
(b) Trade Unions
(c) Work Committees
(d) Task Force
Ans. (c)
36. The size of an office can be measured in which of the following ways?
1. Production capacity of the organization
2. Number of employees
3. Investment in equipment and machines
4. Total administrative expenses
Select the correct answer using the Code given below:
Code:
(a) 1 and 4 are correct
(b) 1 and 2 are correct
(c) 1, 2 and 3 are correct
(d) 2, 3 and 4 are correct
Ans. (d)
37. Contingency School of Management
(a) practice-oriented
(b) principle-oriented
(c) result-oriented
(d) profit and loss-oriented
Ans. (a)
38. The term ‘organizational climate’ best represents:
(a) human environment prevailing in an organization
(b)union management relations within an organization
(c) problems introduced by faulty organizational structure
(d) socio-cultural environment in an organization
Ans. (d)
39. Which one of the following is the correct sequence in terms of the four management functions, first identified by Henry Fayol?
(a) Planning, Organizing, Leading and Controlling
(b) Planning, Organizing, Staffing and Coordinating
(c) Planning, Motivating, Directing and Reporting
(d) Planning, Staffing, Communicating and Leading
Ans. (b)
40. Match List-I (Office records) with List-II (Need of such record) and select the correct answer using the Code given below the Lists:
List-I List-II
A. File 1. Recording small and necessary expenses
B. Ledger 2. Recording transactions
C. Petty cash book 3. Keeping necessary documents
D. Office manual 4. Computerizing office system
Code:
A B C D
(a) 3 2 1 4
(b) 4 5 3 1
(c) 3 5 1 2
(d) 4 2 3 1
Ans. (a)
41. Organizations require narrow span of control if there are:
(a) mature subordinates within
(b) competent and trained managers
(c) unclear plans for non repetitive operations
(d) well defined plans for repetitive operations
Ans. (b)
42. Which one f the following traits describes properly organic or behavioral structure of organization?
(a) Wider spans of control
(b) More centralization
(c) Higher degree of specialization
(d) Taller hierarchy
Ans. (a)
43. People resist change in organization because of:
(a) fear of unemployment
(b) increase in responsibility
(c) need for new social adjustments
(d) All the above
Ans. (d)
44. When there are large number of smaller projects and the activities of those projects are to be accomplished by setting up some temporary departments, the appropriate organizational structure should be:
(a) project organization
(b) functional organization
(c) matrix organization
(d) divisional organization
Ans. (c)
45. The managerial function of organizing involves:
(a) reviewing and adjusting plan in the light of changing conditions
(b) establishing programme for the accomplishment of objectives
(c) creating a structure of functions and duties to be performed by a group
(d) getting things done through others
Ans. (c)
46. Which one of the following is the major consideration for decentralization?
(a) Organization’s environment
(b) Nature of management function
(c) Size of the organization
(d) Ability of higher-level managers
Ans. (c)
47. Which among the following is the most popular approach for accomplishing the results?
(a) Management by exception
(b) Reward system
(c) Management by objectives
(d) Mentor system
Ans. (c)
48. Which among the following is the oldest and simplest device for achieving coordination?
(a) Hierarchy
(b) Planning
(c) Incentives
(d) Rules
Ans. (b)
49. Centralizing the office work is desirable mostly because it:
(a) fixes responsibility
(b) avoids duplication
(c) permits better supervision
(d) permits better delegation
Ans. (a)
50. Match List-I with List-II and select the correct answer using the Code given below the List:
List- I List-II
A. F.W. Taylor 1. Principles of Management
B. Maslow 2. Team Work
C. Esprit de Corps 3. Scientific Management
D. V Henry Fayol 4. Theory of Human Motivation
Code:
A B C D
(a) 1 4 2 3
(b) 3 2 4 1
(c) 1 2 4 3
(d) 3 4 2 1
Ans. (d)
Saturday, January 29, 2011
World Heritage Sites
In 1972, the General Conference of UNESCO adopted a resolution with overwhelming enthusiasm creating thereby a 'Convention concerning the protection of the World Cultural and Natural Heritage'. The main objectives were to define the World Heritage in both cultural and natural aspects; to enlist Sites and Monuments from the member countries which are of exceptional interest and universal value, the protection of which is the concern of all mankind; and to promote co-operation among all Nations and people to contribute for the protection of these universal treasures intact for future generations.
The List of recorded sites on the World Heritage now stands at 812 which include both cultural and natural wonders, and endowment that is shared by all mankind and the protection of which is the concern of the entire mankind. These include 628 cultural, 160 natural and 24 mixed properties in 137 state parties. India is an active member State on the World Heritage from 1977 and has been working in close co-operation with other International agencies like ICOMOS (International Council on Monuments and Sites), IUCN (International Union for the Conservation of Nature and Natural Resources) and ICCROM (International Centre for the study of Preservation and Restoration of Cultural Property).
There are 28 World Heritage Properties in India out of which 22 are Cultural Properties and 5 are Natural Properties.
Cultural Sites
Chhatrapati Shivaji Terminus
Red Fort, Delhi
Natural Sites
GOVERNMENT RECRUITMENT DETAILS
Central Government Jobs | |
Centre for Development of Advanced Computing, Pune | |
Andhra Bank | |
Repco Bank, Chennai | |
BEML Limited | |
BEML Limited | |
BEML Limited | |
National Institute of Financial Management, Gurgaon | |
Steel Authority of India Limited | |
The Director General of Prisons, New Delhi | |
Safdarjang Hospital and VMMC, New Delhi | |
Apparel Export Promotion Council, Gurgaon | |
Electronics Corporation of India Limited | |
South Asia LPG Company Private Limited | |
Mizoram University, Aizawal | |
Navy Children School, Mumbai | |
Paradip Port Trust | |
Lal Bahadur Shastri Hospital, New Delhi | |
Ministry of Health and Family Welfare, New Delhi | |
UNICEF | |
British Deputy High Commission, Chennai | |
| |
Dredging Corporation of India Limited | |
Bharat Heavy Electricals Limited | |
Indian Institute of Management, Ahmedabad | |
NALCO | |
The Institution of Civil Engineers (India) | |
Employees State Insurance Corporation, Delhi | |
Central Council for Research in Ayurvedic Sciences | |
Archaeological Survey of India | |
Central Institute of Plastics Engineering & Technology, Chennai | |
National Institute of Technology, Jamshedpur | |
Indian Oil Corporation Limited | |
Kolkata Port Trust, Kolkata | |
National Institute of Technical Teachers Training & Research, Kolkata | |
NTPC Limited | |
The Cotton Corporation of India Limited | |
National Research Centre on Plant Biotechnology, New Delhi | |
Aeronautical Training Institute, Lucknow | |
Birbal Sahni Institute of Palaebotany, Lucknow | |
National Botanical Research Institute, Lucknow | |
Visvesvaraya Industrial & Technological Museum, Bangalore | |
Ministry of Panchayati Raj, New Delhi | |
UN Women | |
| |
Indian Air force | |
National Aerospace Laboratories, Bangalore | |
Garden Reach Shipbuilders & Engineers Ltd. | |
Ministry of Earth Sciences, New Delhi | |
National Institute of Malaria Research, New Delhi | |
Ministry of Health & Family Welfare, New Delhi | |
MACS-Agharkar Research Institute, Pune | |
National Institute of Technical Teachers Training and Research, Chandigarh | |
High Court of Punjab and Haryana, Chandigarh | |
Employees State Insurance Corporation | |
National Board of Accreditation, New Delhi | |
Mahanadi Coalfields Limited | |
The Institute of Company Secretaries of India, New Delhi | |
Union Public Service Commission | |
Himachal Pradesh University | |
National Rural Roads Development Agency, New Delhi | |
| |
Indian Space Research Organization (ISRO) | |
Ministry of Science and Technology, New Delhi | |
Sanjay Gandhi Post Graduate Institute of Memorial Sciences, Lucknow | |
Government Medical College & Hospital, Chandigarh | |
Consultancy Development Centre, New Delhi | |
Competition Commission of India, New Delhi | |
Institute for Social and Economic Change, Bangalore | |
National Institute of Agricultural Extension Management, Hyderabad | |
Airports Economic Regulatory Authority of India , New Delhi | |
Bharat Petroleum Corporation Ltd | |
| |
Indian Institute of Management Tiruchirappalli | |
National Institute of Pharmaceutical Education and Research, S.A.S. Nagar, Punjab | |
Employees’ State Insurance Corporation | |
Rural Electrification Corporation Limited | |
Indian Statistical Institute, Kolkata | |
National Brain Research Centre, Gurgaon |
Tuesday, January 25, 2011
PADMA AWARDS 2011
The President of India has approved the conferment of Padma Awards-2011. This year the President has approved 128 awards including one duo case (counted as one) and 12 in the category of Foreigners/ NRIs/ PIOs/ Posthumous. These comprise 13 Padma Vibhushan, 31 Padma Bhushan and 84 Padma Shri Awards. There are 31 ladies among the awardees.
Padma Vibhushan
Sl No. | Name | Discipline | State/ Domicile |
| Dr. (Smt.) Kapila Vatsyayan | Art - Art Administration and Promotion. | Delhi |
| Mrs. Homai Vyarawalla | Art - Photography | Gujarat |
| Shri A Nageshwara Rao | Art- Cinema | Andhra Pradesh |
| Shri Parasaran Kesava Iyengar | Public Affairs | Delhi |
| Dr. Akhlaq-ur-Rehman Kidwai | Public Affairs | Delhi |
| Shri Vijay Kelkar | Public Affairs | Delhi |
| Shri Montek Singh Ahluwalia | Public Affairs | Delhi |
| Shri Palle Rama Rao | Science and Engineering | Andhra Pradesh |
| Shri Azim Premji | Trade and Industry | Karnataka |
| Shri Brajesh Mishra | Civil Services | Madhya Pradesh |
| Prof. (Dr.) Ottaplakkal Neelakandan Velu Kurup | Literature and Education | Kerala |
| Dr. Sitakant Mahapatra | Literature and Education | Orissa |
| Late Shri L. C. Jain | Public Affairs | Delhi * |
Padma Bhushan
Sl No. | Name | Discipline | State/ Domicile |
| Shri Satyadev Dubey | Art - Theatre | Maharashtra |
| Shri Mohammed Zahur Khayyam Hashmi alias Khayyam | Art - Cinema - Music | Maharashtra |
| Shri Shashi Kapoor | Art - Cinema | Maharashtra |
| Shri Krishen Khanna | Art - Painting | Haryana |
| Shri Madavur Vasudevan Nair | Art - Dance - Kathakali | Kerala |
| Ms. Waheeda Rehman | Art - Cinema | Maharashtra |
| Shri Rudrapatna Krishna Shastry Srikantan | Art - Music-Vocal | Karnataka |
| Ms. Arpita Singh | Art - Painting | Delhi |
| Dr. Sripathi Panditharadhyula Balasubrahmanyam | Art - Playback Singing, Music Direction & acting | Tamil Nadu |
| Shri C.V. Chandrasekhar | Art - Classical Dance-Bharatanatyam | Tamil Nadu |
| Shri Dwijen Mukherjee | Art | West Bengal |
| Smt. Rajashree Birla | Social work | Maharashtra |
| Mrs. Shobhana Ranade | Social work | Maharashtra |
| Dr. Suryanarayanan Ramachandran | Science and Engineering | Tamil Nadu |
| Shri S.(Kris) Gopalakrishnan | Trade and Industry | Karnataka |
| Shri Yogesh Chander Deveshwar | Trade and Industry | West Bengal |
| Ms. Chanda Kochhar | Trade and Industry | Maharashtra |
| Dr. K. Anji Reddy | Trade and Industry- Pharmacy | Andhra Pradesh |
| Shri Analjit Singh | Trade and Industry | Delhi |
| Shri Rajendra Singh Pawar | Trade and Industry | Haryana |
| Dr. Gunapati Venkata Krishna Reddy | Trade and Industry | Andhra Pradesh |
| Shri Ajai Chowdhary | Trade and Industry | Delhi |
| Shri Surendra Singh | Civil Services | Delhi |
| Shri M. N .Buch | Civil Services | Madhya Pradesh |
| Shri Shyam Saran | Civil Services | Delhi |
| Shri Thayil Jacob Sony George | Literature and Education | Karnataka |
| Dr. Ramdas Madhava Pai | Literature and Education | Karnataka |
| Shri Sankha Ghosh | Literature and Education | West Bengal |
| Late Shri K. Raghavan Thirumulpad | Medicine - Ayurveda. | Kerala* |
| Late Dr. Keki Byramjee Grant | Medicine - Cardiology | Maharashtra * |
| Late Shri Dashrath Patel | Art | Gujarat * |
Padma Shri
Sl No. | Name | Discipline | State/ Domicile |
| Ms. Neelam Mansingh Chowdhry | Art - Theatre | Chandigarh |
| Shri Makar Dhwaja Darogha | Art- Chhau Dance | Jharkhand |
| Shri Shaji Neelakantan Karun | Art – Film Direction | Kerala |
| Shri Girish Kasaravalli | Art - Film making | Karnataka |
| Ms. Tabassum Hashmi Khan alias Tabu | Art - Cinema | Maharashtra |
| Shri Jivya Soma Mase | Art - Warli Painting | Maharashtra |
| Guru (Ms.) M.K. Saroja | Art - Dance- Bharatnatyam | Tamil Nadu |
| Shri Jayaram Subramaniam | Art - Cinema | Tamil Nadu |
| Pandit Ajoy Chakraborty | Art - Music-Indian Classical Vocal | West Bengal |
| Smt. Mahasundari Devi | Art - Mithilia/ Madhubani Painting. | Bihar |
| Shri Gajam Govardhana | Art - Handloom Weaving | Andhra Pradesh |
| Ms. Sunayana Hazarilal | Art - Dance - Kathak | Maharashtra |
| Shri S.R. Janakiraman | Art - Carnatic Vocal Music | Tamil Nadu |
| Shri Peruvanam Kuttan Marar | Art - Chenda Melam- Drum concert | Kerala |
| Smt. Kalamandalam Kshemavathy Pavithran | Art - Dance - Mohiniattam | Kerala |
| Shri Dadi Dorab Pudumjee | Art - Puppetry | Delhi |
| Shri Khangembam Mangi Singh | Art - Traditional Music of Manipur (Pena) | Manipur |
| Shri Prahlad Singh Tipaniya | Art - Folk Music | Madhya Pradesh |
| Smt. Usha Uthup | Art - Music. | West Bengal |
| Smt. Kajol | Art- Cinema | Maharashtra |
| Shri Irfan Khan | Art- Cinema | Maharashtra |
| Shri Mamraj Agrawal | Social work | West Bengal |
| Shri Jockin Arputham | Social work | Maharashtra |
| Ms. Nomita Chandy | Social work | Karnataka |
| Ms. Sheela Patel | Social work | Maharashtra |
| Ms. Anita Reddy | Social work | Karnataka |
| Shri Kanubhai Hasmukhbhai Tailor | Social work | Gujarat |
| Shri Anant Darshan Shankar | Public Affairs | Karnataka |
| Prof. M. Annamalai | Science and Engineering | Karnataka |
| Dr. Mahesh Haribhai Mehta | Science and Engineering - Agricultural Science | Gujarat |
| Shri Coimbatore Narayana Rao Raghavendran | Science and Engineering | Tamil Nadu |
| Dr. (Mrs.) Suman Sahai | Science and Engineering | Delhi |
| Prof.(Dr.) E.A. Siddiq | Science and Engineering - Agricultural Science | Andhra Pradesh |
| Shri Gopalan Nair Shankar | Science and Engineering - Architecture | Kerala |
| Shri Mecca Rafeeque Ahmed | Trade and Industry | Tamil Nadu |
| Shri Kailasam Raghavendra Rao | Trade and Industry | Tamil Nadu |
| Shri Narayan Singh Bhati
| Civil Services | Andhra Pradesh |
| Shri P K Sen | Civil Services | Bihar |
| Ms. Shital Mahajan | Sports - Adventure Sports- Para Jumping | Maharashtra |
| Ms. Nameirakpam Kunjarani Devi | Sports - Weightlifting | Manipur |
| Shri Sushil Kumar | Sports - Wrestling | Delhi |
| Shri Vangipurapu Venkata Sai Laxman | Sports - Cricket | Andhra Pradesh |
| Shri Gagan Narang | Sports - Shooting | Andhra Pradesh |
| Smt. Krishna Poonia | Sports - Discus Throw | Rajasthan |
| Shri Harbhajan Singh | Sports - Mountaineering | Punjab |
| Dr. Pukhraj Bafna | Medicine - Padeatrics | Chhattisgarh |
| Prof. Mansoor Hasan | Medicine- Cardiology | Uttar Pradesh |
| Dr. Shyama Prasad Mandal | Medicine - Orthopaedic | Delhi |
| Prof. (Dr.) Sivapatham Vittal | Medicine - Endocrinology | Tamil Nadu |
| Prof. (Dr.) Madanur Ahmed Ali | Medicine - Gastroenterology | Tamil Nadu |
| Dr. Indira Hinduja | Medicine - Obstetrics and Gynaecology. | Maharashtra |
| Dr. Jose Chacko Periappuram | Medicine - Cardio-Thoracic Surgery. | Kerala |
| Prof. (Dr.) A. Marthanda Pillai | Medicine - Neurosurgery | Kerala |
| Shri Mahim Bora | Literature and Education | Assam |
| Prof. (Dr.) Pullella Srirama Chandrudu | Literature and Education- Sanskrit | Andhra Pradesh |
| Dr. Pravin Darji | Literature and Education | Gujarat |
| Dr. Chandra Prakash Deval | Literature and Education | Rajasthan |
| Shri Balraj Komal | Literature and Education | Delhi |
| Mrs. Rajni Kumar | Literature and Education | Delhi |
| Dr. Devanooru Mahadeva | Literature and Education | Karnataka |
| Shri Barun Mazumder | Literature and Education | West Bengal |
| Dr. Avvai Natarajan | Literature and Education | Tamil Nadu |
| Shri Bhalchandra Nemade | Literature and Education | Himachal Pradesh |
| Prof. Riyaz Punjabi | Literature and Education | Jammu and Kashmir |
| Prof. Koneru Ramakrishna Rao | Literature and Education | Andhra Pradesh |
| Ms. Buangi Sailo | Literature and Education | Mizoram |
| Prof. Devi Dutt Sharma | Literature and Education | Uttarakhand |
| Shri Nilamber Dev Sharma | Literature and Education | Jammu and Kashmir |
| Ms. Urvashi Butalia # | Literature and Education | Delhi |
Ms. Ritu Menon # | Literature and Education | Delhi | |
| Prof. Krishna Kumar | Literature and Education | Delhi |
| Shri Deviprasad Dwivedi | Literature and Education | Uttar Pradesh |
| Ms. Mamang Dai | Literature and Education | Arunachal Pradesh |
| Dr. Om Prakash Agrawal | Others - Heritage Conservation | Uttar Pradesh |
| Prof. Madhukar Keshav Dhavalikar | Others - Archeology | Maharashtra |
| Ms. Shanti Teresa Lakra | Others-Nursing | Andaman & Nicobar |
| Smt. Gulshan Nanda | Others - Handicrafts promotion | Delhi |
| Dr. Azad Moopen | Social work | UAE * |
| Prof. Upendra Baxi | Public Affairs -Legal Affairs | United Kingdom * |
| Dr. Mani Lal Bhaumik | Science and Engineering | USA * |
| Dr. Subra Suresh | Science and Engineering | USA * |
| Prof. Karl Harrington Potter | Literature and Education | USA * |
| Prof. Martha Chen | Social work | USA * |
| Shri Satpal Khattar | Trade and Industry | Singapore * |
| Shri Granville Austin | Literature and Education | USA * |
Note: * indicates awardees in the category of Foreigners / NRIs/ PIOs/ Posthumous.
# indicates duo case.