All205Business & Commercial Knowledge60Business Economics & Commercial Knowledge vol.255Fundamentals of Accounting50Quantitative Aptitude & Business Economics40

Q1Fundamentals of Accounting

NLTL purchased van for Rs. 5M on 1 Feb 2022. Paid Rs. 2.2M same date, remaining in two equal installments on 31 March and 30 April 2022. What entry on 31 March 2022?

AAdvance Motors account Debit Rs. 1.4M; Bank account Credit Rs. 1.4MBVan account Debit Rs. 5M; Bank account Credit Rs. 5MCAdvanced Motors Debit Rs. 1.4M; Van account Credit Rs. 1.4MDVan account Debit Rs. 1.4M; Advanced Motors Credit 1.4M

Q2Business & Commercial Knowledge

A mission statement answers the question:

AWhat will we become?BWhat is our business?CHow much profit will we make?DWhere will we expand?

Q3Business & Commercial Knowledge

Succession planning ensures:_____

AKey positions have replacementsBCompany closesCEveryone resignsDMarket share increases

Q4Business & Commercial Knowledge

A key objective of human resource strategy is to:

AEnsure human resources are available as requiredBMinimise employee compensationCMaximise physical resourcesDEliminate training programs

Q5Business & Commercial Knowledge

Work specialization advantages include:

AHigher training costsBIncreased efficiencyCMore errorsDLess expertise

Q6Business & Commercial Knowledge

EIS decisions are mostly:

AStructuredBUnstructuredCRoutineDComplaint-based

Q7Business Economics & Commercial Knowledge vol.2

Which of the following is / are components of public debt? 1. Public borrowing 2. Treasury bills 3. Securities issued by central bank

A1 onlyB1 and 2C2 onlyD1, 2 and 3

Q8Fundamentals of Accounting

Any amount of write-down of inventories to net realisable value should?

ATreated as a deferred expense and written off based on the average inventory holding periodBRecognised as an expense in the period in which the write-down occursCRecognised as an expense in the subsequent period in which such write-down is warrantedDRecognized as a current liability in the statement of financial position

Q9Quantitative Aptitude & Business Economics

A line passes through (a, 2a) and (a+2, 3a) with gradient 2. Find a:

A2B3C4D6

Q10Quantitative Aptitude & Business Economics

Factory A: 3500 units at Rs. 228/unit. Factory B: 5400 units at Rs. 190/unit. Find linear cost function:

AC = −0.02x − 298BC = −0.02x + 298CC = 0.02x − 298DNone of these

Q11Business & Commercial Knowledge

CEO of T tel receive reports from functional mangers that have been compiled after supervisors' feedback. This represents:

ASpan of ControlBChain of CommandCCentralizationDDecentralization

Q12Business & Commercial Knowledge

Management team is unclear about the person specification for the new position of data analyst… This is due to lack of:

AJob AnalysisBJob DescriptionCJob appraisalDJob specification

Q13Quantitative Aptitude & Business Economics

Identify the redundant constraint

Ax + y ≤ 6B2x + y ≤ 5Cx ≤ 2Dx ≥ 0

Q14Business & Commercial Knowledge

Companies must pay income taxes on their profits. In addition, any profits (dividends) paid to shareholders are taxed as personal income. Which of the following terms explains this regulation on companies?

ADouble regulationBDouble taxationCUnlimited taxationDUnlimited liability

Q15Fundamentals of Accounting

FIFO perpetual: Apr 1 600u@20, Apr 5 400u@21, Apr 10 Sales 650u, Apr 15 400u@22, Apr 18 Return 100u@22, Apr 20 Sales 250u, Apr 30 Sales 50u. Inventory value at April end?

ARs. 7,450BRs. 7,350CRs. 7,700DRs. 7,650

Q16Business & Commercial Knowledge

A mission statement focuses on:

APresent operationsBFuture goalsCPast achievementsDEmployee benefits

Q17Business & Commercial Knowledge

General Motors with Buick, Cadillac divisions has:

AFunctional structureBProduct divisional structureCGeographic structureDMatrix structure

Q18Business & Commercial Knowledge

Departmentalization by customer type helps in:

ABetter customer serviceBLower costsCLess coordinationDMore conflicts

Q19Business & Commercial Knowledge

Long term bank loans obtained by corporations are always:

AUnsecuredBSecuredCD

Q20Business & Commercial Knowledge

Matrix organization combines:

AFunctional and product departmentalizationBOnly functionalCOnly productDOnly geographic

Q21Business & Commercial Knowledge

Many stock exchanges in the world require the firms to have:

ACSRBFinancial statements issued to international mediaCDefined professional code of ethicsDAll of the above

Q22Quantitative Aptitude & Business Economics

Number of real roots for the quadratic equation x^2 + 2x + 1 = 0 are:

AOneBTwoCThreeDFour

Q23Quantitative Aptitude & Business Economics

Any numerical value describing a characteristic of a sample is called:

ASample meanBSample varianceCStatisticDNone of these

Q24Quantitative Aptitude & Business Economics

In a scatter diagram, if the points follow clearly a straight line of negative slope, the two variables are said to have:

ANo correlationBHigh positive correlationCHigh negative correlationDNone of these

Q25Business & Commercial Knowledge

Departmentalization means grouping:

AActivities and peopleBOnly productsCOnly customersDOnly suppliers

Q26Quantitative Aptitude & Business Economics

If r = 0.9 and if 3 is added to each observation of y, then r will:

AIncrease by 3 unitsBIncrease by more than 3 unitsCRemain unchangedDNone of these

Q27Business & Commercial Knowledge

If a vision is unrealistic, it may:

AMotivate employeesBDemotivate employeesCIncrease profitDReduce costs

Q28Business Economics & Commercial Knowledge vol.2

If the amounts of two commodities purchased both increase or decrease when the price of one change, the cross elasticity of demand between them is:

ANegativeBPositiveCZeroDOne

Q29Business & Commercial Knowledge

Factors of production include:

ALand, labor, capital, entrepreneurshipBRevenue, cost, profit, lossCGoods, services, customers, suppliersDVision, mission, goals, objectives

Q30Business & Commercial Knowledge

Compensation includes all EXCEPT:_____.

ASalaryBBonusCEconomic benefitsDEmployee punishments

Q31Fundamentals of Accounting

What is the net amount an entity expects to obtain for an asset at the end of its useful life?

AResidual valueBDepreciated valueCPresent valueDFair value

Q32Business Economics & Commercial Knowledge vol.2

Which one account for cost push inflation?

AIncrease in populationBIncrease in indirect taxesCIncrease in direct taxDIncrease in imports

Q33Fundamentals of Accounting

Which TWO are examples of prepaid expense?

ARent of 12 months paid in advanceBElectricity bill of last month received and paid in following yearCAnnual insurance premium paid at time of agreementDSalaries for month paid in subsequent month

Q34Fundamentals of Accounting

Impact of interest on drawings on profit appropriation?

AIncreases the profit available for appropriationBDecreases the profit available for appropriationCNo impactDEither increases or decreases depending upon capital balance

Q35Fundamentals of Accounting

An unidentified credit of Rs. 294,000 appearing in the bank statement was accounted for in the suspense account. It was discovered that the credit was a settlement of an old outstanding balance previously written off. The amount was net of 2% bank charges. What journal entry must be recorded to correct this error?

ADEBIT: Bank Rs. 294,000 and CREDIT: Bad debts expense Rs. 294,000BDEBIT: Suspense Rs. 294,000 and CREDIT: Bad debts expense Rs. 294,000CDEBIT: Bank Rs. 294,000 & Bank Charges Rs. 6,000 and CREDIT: Bad debts expense Rs. 300,000DDEBIT: Suspense Rs. 294,000 & Bank Charges Rs. 6,000 and CREDIT: Bad debts expense Rs. 300,000

Q36Business Economics & Commercial Knowledge vol.2

The Keynesian view of inflation is associated with which of the following concepts?

ARational expectations of inflationBSupply side economicsCThe natural rate of unemploymentDThe inflationary gap

Q37Fundamentals of Accounting

Receipt vouchers are prepared:

ATo record the cash receiptsBTo record the cheque receiptsCTo record the collection in bank accountsDTo record issue of cheque to supplier

Q38Quantitative Aptitude & Business Economics

The slope of a line passing through origin and point (4, 5) will be:

A5B0C4D1.25

Q39Business & Commercial Knowledge

Management Support System (MSS) provides:

ATechnical trainingBAnalysis and decision supportCRandom suggestionsDInfrastructure planning

Q40Quantitative Aptitude & Business Economics

A sum invested at CI amounts to Rs.4,624 in 2 years and Rs.4,913 in 3 years. The sum of money is:

ARs.4,096BRs.4,260CRs.4,335DRs.4,360

Q41Business Economics & Commercial Knowledge vol.2

In command economy resources are allocated by:

AMarket forcesBEntrepreneursCGovernment decisionsDNone of above

Q42Business & Commercial Knowledge

Retained earnings dilute ownership of company

ATrueBFalseCD

Q43Business & Commercial Knowledge

Capital budgeting involves:

AInvestment evaluationBSalariesCUtilitiesDMarketing

Q44Business Economics & Commercial Knowledge vol.2

If the price of coffee falls, which one of the following outcomes would be expected to occur?

AA fall in the quantity of coffee demandedBA rise in the price of teaCA fall in the demand for drinking cupsDA fall in the demand for tea

Q45Business & Commercial Knowledge

Private and public companies are incorporated under company law, Company law is NOT designed to

AProtect stakeholders' rightsBEncourage investmentsCEnsure Ethical practicesDMaintain production efficiency

Q46Fundamentals of Accounting

"Owner withdrew cash from business for personal use" is business transaction. Which accounting concept relates to this?

AGoing concernBSeparate entity conceptCPrudence conceptDMatching concept

Q47Quantitative Aptitude & Business Economics

Clock strikes 1 at 1 o'clock, 3 at 3 o'clock, etc. How many times in 2 days?

A78B156C288D312

Q48Business Economics & Commercial Knowledge vol.2

When there is a small change in the quantity demanded of a product in response to a small change in its price. Elasticity method will be known as:

APoint elasticityBArc-elasticityCGross elasticityDNone of the above

Q49Business & Commercial Knowledge

Which of the following is the best summary of the role of a financial manager?

ATo maximize the value of the business for its shareholdersBTo organize the finance departmentCTo manage salaries and overheads of the businessDNone of the above

Q50Quantitative Aptitude & Business Economics

Lines joining (−1,1)&(2,−2) and (1,2)&(2,k) are parallel. Find k:

A1B0C−1DNone

Q51Fundamentals of Accounting

Start of year accrued Rs. 56k, end Rs. 60k. Expense charged Rs. 500k. Amount paid during year?

ARs. 496,000BRs. 500,000CRs. 504,000DRs. 616,000

Q52Business Economics & Commercial Knowledge vol.2

A stimulative fiscal policy combined with a restrictive monetary policy will necessarily cause:

AGross domestic product to increaseBGross domestic product to decreaseCInterest rate to fallDInterest rates to rise

Q53Business Economics & Commercial Knowledge vol.2

If 𝐶𝑜 = Rs.160, Y = Rs.500 and marginal propensity to consume is 0.2 then consumption will be

ARs. 360BRs. 260CRs. 160DRs. 140

Q54Quantitative Aptitude & Business Economics

Arithmetic mean of 4 positive observations is 50. What is the maximum possible value an observation can take?

AJust under 200B50C250D400

Q55Quantitative Aptitude & Business Economics

If seven coins are tossed simultaneously. All possible outcomes of the experiment are:

ANot mutually exclusiveBIndependentCNot independentDNone of these

Q56Business Economics & Commercial Knowledge vol.2

When the MPC is 0.80 and the APC is 0.95, the MPS is

A0.20 and the APS is 0.05,B0.05 and the APS is 0.20,C0.20 and the APS is 0.20,D0.05 and the APS is 0.05.

Q57Fundamentals of Accounting

Which statement is NOT true in the context of 'Chart of Accounts'?

AUnique code and heading for each account headBStructure and heading aims to result in consistent postingCAim is to ensure all transactions are recognized per business requirementsDAim is to calculate profit or loss of business

Q58Business & Commercial Knowledge

Asif ensures that funds management is always in line with _____________ of the company.

ABusiness planBMarket competitionCFinancial problemsDGoals and Objectives

Q59Business Economics & Commercial Knowledge vol.2

Which one is NOT the most relevant problem regarding calculating national income?

AUnreliable record keepingBLack of trained staffCIllegal activitiesDPoor collection procedure

Q60Business & Commercial Knowledge

Poor selection of structures in any organization results in:

ALow motivation and morale among employeesBMore productivityCMore competitivenessDGrowth and profitability

Q61Quantitative Aptitude & Business Economics

Point of intersection of 3x + 2y = 6 and 3x − y = 12 lies in:

A1st QuadrantB2nd QuadrantC3rd QuadrantD4th Quadrant

Q62Fundamentals of Accounting

A business sells Rs.100000 worth of goods. Customer pays Rs.50000 cash immediately and will pay remaining Rs.50000 in 30 days. What is the double entry in the customer's accounting records?

ADr. cash Rs.50000; Cr. payables Rs.50000; Cr. purchases Rs.50000BDr. payables Rs.50000; Dr. cash Rs.50000; Cr. purchases Rs.100000CDr. purchases Rs.100000; Cr. payables Rs.50000; Cr. cash Rs.50000DDebit purchases Rs.100000; credit cash Rs.100000

Q63Business & Commercial Knowledge

Low power, high interest stakeholders should be:

AKept informedBMonitored closelyCKept satisfiedDIgnored

Q64Business & Commercial Knowledge

TRUE OR FALSE: Tactical and operational decisions should be centralized at the local management level, particularly in a large organization.

ATRUEBFALSECD

Q65Quantitative Aptitude & Business Economics

Mr. Dawood borrows Rs.20,000 at 5% p.a. CI to be repaid in Rs.2,000 annual installments. Years to pay off debt is:

A10 yearsB12 yearsC11 yearsDNone of these

Q66Business & Commercial Knowledge

The buyers of industrial products are:

ANumerous and general consumersBLimited and business-focusedCOnly studentsDOnly government agencies

Q67Business & Commercial Knowledge

Warehousing and holding products to create time utility is known as:

ATransportingBStoringCSellingDMarketing research

Q68Business Economics & Commercial Knowledge vol.2

When diminishing returns begin to operate, the total variable cost curve will start to

Afall at an increasing rateBrise at a decreasing rateCfall at a decreasing rateDrise at an increasing rate

Q69Business & Commercial Knowledge

The profit earned by Tour and Travels for the year 2021 will be retained to expand the business. ___________ business has the discretion to use the profit in whatever way it wants.

APartnershipBLimited companyCSole proprietorshipDNGO

Q70Quantitative Aptitude & Business Economics

What are the number of values in 60s in above stem and leaf diagram

A60BNoneCOneDCannot be determined

Q71Business Economics & Commercial Knowledge vol.2

Which of the following factors might cause cost-push inflation? Factor 1. Higher wage levies in domestic industries 2. Higher consumer spending 3. Higher Import prices

AFactor 1 onlyBFactors 1 and 2 onlyCFactors 1 and 3 onlyDFactors 2 and 3 only

Q72Fundamentals of Accounting

F Limited year-end is 30 September. On 1 January 2016 the organization took out a loan of Rs. 100,000 with annual interest of 12%. The interest is payable in equal instalments on the first day of April, July, October and January in arrears. How much should be charged to P&L for the year ended 30 September 2016, and how much should be accrued on the statement of financial position?

AP&L Rs.5000 SFP Rs.24000BP&L Rs.9000 SFP Rs.3000CP&L Rs.5000 SFP Rs.1000DP&L Rs.6000 SFP Rs.5000

Q73Business Economics & Commercial Knowledge vol.2

Which of these is NOT a component of cost function of a product?

AMarket price of the productBOperating technology of the plantCOperating capacityDAll of the above

Q74Business & Commercial Knowledge

The Board of Directors are the most powerful decision-makers of a business. If this is true, what factor can influence the decision of the Board of Directors? Choose the best answer from the following:

AOpinion of customersBKnowledge of the businessCEmployee feedbackDOpinion of shareholders

Q75Business Economics & Commercial Knowledge vol.2

Which one of the following is not a source of economies of scale?

AThe introduction of specialist capital equipment .BBulk buyingCThe employment of specialist managersDNone of these.

Q76Business & Commercial Knowledge

G BANK use customer data to develop marketing strategies for various services they offer in the cities. This data is helpful in

ASatisfying the needs of the customersBAccomplishment of organisation goalsCGenerate value for the businessDAll of the above

Q77Business & Commercial Knowledge

A company should prefer to finance itself in the following order: 1ST RETAIN EARNING, 2ND DEBTS & 3RD EQUITY FINANCING.

ATRUEBFALSECD

Q78Business Economics & Commercial Knowledge vol.2

The graph of a supply schedule which has a price elasticity of supply equal to 1 will be:

Aa rectangular hyperbolaBany straight line drawn through the originCstraight line drawn through the origin at 90 degreesDa vertical line

Q79Business Economics & Commercial Knowledge vol.2

Monopoly power may be based on:

Aeconomies of large-scale productionBpatentsCcontrol of key natural resourcesDall of the above

Q80Fundamentals of Accounting

Sufyan purchased goods on credit from Aliyan. List price Rs.10000. Trade discount 2%. Settlement discount 1% on amount due if paid within 10 days. Sufyan availed the discount. Which books and amounts?

APurchase day book Rs.10000 Cash book discount column Rs.298 and payment column Rs.9702BPurchase day book Rs.9702 Cash book Rs.9702CPurchase day book Rs.9800 Cash book discount column Rs.98 and payment column Rs.9702DSales day book Rs.9800 Cash book discount column Rs.98 and receipt column Rs.9702

Q81Business & Commercial Knowledge

A Ltd (AL) is a manufacturing organization that produces homecare products. Currently AL is serving the needs of a single city only with a workforce of 50 people. Which structure suits AL the best:

AFunctionBDivisionalCEntrepreneurialDMatrix

Q82Business & Commercial Knowledge

Herzberg's theory divides motivators and _____.

AHygiene factorsBPsychological factorsCMarket factorsDPrice-related factors

Q83Business Economics & Commercial Knowledge vol.2

Spending on purchasing new intelligence system for defense is non-development expenditure. Which of the following statements is false?

AA country's exports increase when the economic activity of its major trading partners increases, ceteris paribusBA country's exports increase when its currency depreciates, ceteris paribusCA country's exports increase when it imports less, ceteris paribusDA country's exports increase when the price level of its major trading partners decreases, ceteris paribus

Q84Business & Commercial Knowledge

Sources of finance can also be classified based on time duration. TRUE or FALSE?

ATRUEBFALSECD

Q85Quantitative Aptitude & Business Economics

A person can make profit of Rs.5000 with probability 0.4 or take a loss of Rs.1500 with probability 0.8. The expected gain is:

A1200B800CCannot be determined due to wrong values of probabilitiesDNone of these

Q86Business Economics & Commercial Knowledge vol.2

Rise in discount rate by 10%, the inflation will:

AIncreaseBDecreaseCIncrease by 10%DDecrease by 10%

Q87Business Economics & Commercial Knowledge vol.2

The system in which the government keeps its hands off economic decisions is called.

AFree market economyBCapitalist economyCLaissez – faire economyDAll of above

Q88Business Economics & Commercial Knowledge vol.2

A term of trade refers:

ARatio of export price to import priceBRation of import price to export priceCNet exportsDNone of the above

Q89Business & Commercial Knowledge

HR strategies aim to:

AEnsure workforce efficiency and effectivenessBOnly hire as many people as possibleCOnly improve marketingDReduce salaries

Q90Fundamentals of Accounting

Turnover Rs.2M receivables 5% = Rs.100000. Allowance 4% of receivables makes it 1/3 higher than current. Effect on profit?

AProfit reduced by Rs.1000BProfit increased by Rs.1000CProfit reduced by Rs.1333DProfit increased by Rs.1333

Q91Business Economics & Commercial Knowledge vol.2

What is the main reason why indirect tax is thought to be unfair?

ANot everyone pays an indirect taxBThe consumer is unaware of the rate of taxCThe retailer is forced to collect the tax for the governmentDThe tax burden is greater for people of low incomes

Q92Business Economics & Commercial Knowledge vol.2

Money in which the intrinsic value is less than its face value:

AFull bodied moneyBToken moneyCConvertible moneyDNone of the above

Q93Fundamentals of Accounting

ABC receives advance rent Rs.1 million on 31 Dec for following year. Year end 31 Dec. What entry this year?

ACash Dr Rs.1M Advance rent liability Cr Rs.1MBCash Dr Rs.1M Accrued rent Cr Rs.1MCCash Dr Rs.1M Rent income Cr Rs.1MDNone

Q94Fundamentals of Accounting

The owner contributes his personal car to the business

AIncrease an asset increase a liabilityBDecrease an asset decrease a liabilityCIncrease an asset increase owner's equityDDecrease an asset decrease owner's equity

Q95Quantitative Aptitude & Business Economics

The linear relation between a dependent and an independent variable is called:

ARegression lineBRegression co-efficientCCo-efficient of correlationDNone of these

Q96Business & Commercial Knowledge

Job rotation is a type of:

AOff-the-job trainingBOn-the-job trainingCRecruitment processDPerformance appraisal

Q97Business Economics & Commercial Knowledge vol.2

According to Keynes consumption increases along increase in income but with:

ALesser proportionBGreater proportionCSame proportionDNone of above

Q98Quantitative Aptitude & Business Economics

The middle most value of an arranged set of observations is known as:

AModeBMedianCMeanDNone of these

Q99Business & Commercial Knowledge

A job specification focuses on the _____.

AIndividual performing the jobBOffice furnitureCCompany brandingDFinancial assets

Q100Fundamentals of Accounting

Which statements correct about PPE?

AResidual value is estimated sales value less disposal cost at end of useful lifeBPPE are tangible items used for more than one period, held for production, rental, administrationCAdmin cost included in initial cost of PPEDDepreciation is systematic allocation of depreciable amount over useful life

Q101Fundamentals of Accounting

Sales 750k (20% cash), receivables 60% of credit sales, specific allowance 6k, general 3%. New allowance 1.662× opening. Amount charged to CI?

ARs. 6,620BRs. 16,692CRs. 20,000DCannot be calculated

Q102Quantitative Aptitude & Business Economics

Identify whether following cost is variable or fixed

AFixed costBVariable costCSemi-variable costDNone of these

Q103Business & Commercial Knowledge

Job rotation helps employees:_____

ALearn different tasksBStay in one role onlyCAvoid responsibilityDReduce skills

Q104Fundamentals of Accounting

Javed received cheque Rs. 10,000 from customer, deposited, bank returned due to insufficient funds. Which book to record dishonour?

ASales day bookBSales return day bookCCash bookDGeneral journal

Q105Business Economics & Commercial Knowledge vol.2

Which of the following is a direct tax?

ASales taxBCapital gains taxCFederal excise dutyDValue added tax

Q106Fundamentals of Accounting

Opening stock 150k, purchases 200k, sales 240k. Markup 20%. Closing stock value?

ARs. 158,000BRs. 110,000CRs. 150,000DRs. 190,000

Q107Business Economics & Commercial Knowledge vol.2

Which one of the following is not an asset of a commercial bank?

ABalances at the central bankBMoney at callCCustomers' depositsDAdvances to customers

Q108Fundamentals of Accounting

Equipment bought 1 Jan 2018 for Rs. 4M, depreciated 10% reducing balance. On 1 Jan 2021, changed to straight line, 5 years remaining life, Rs. 500k residual. Depreciation for year ended 31 Dec 2021?

ARs. 816,097BRs. 460,000CRs. 700,000DRs. 483,200

Q109Business & Commercial Knowledge

Storage devices that use robotic mechanisms to manage media are known as ___________ devices.

ACloudBRemoteCOfflineDTertiary

Q110Business & Commercial Knowledge

Motivated employees are more likely to remain _____.

AIndifferentBWith the organisationCUnproductiveDConfused

Q111Fundamentals of Accounting

Opening accrued salaries 22.5k, closing 25k, paid during year 312.5k. Which statement(s) correct?

ASalaries expense Rs. 310k in statement of CIBSalaries expense Rs. 315k in statement of CICAccrued salaries shown as current assetDAccrued salaries shown as current liability

Q112Business Economics & Commercial Knowledge vol.2

In a given economy, of each additional £1 of income, 30% is taken in taxes, 10% is spent on imports and 40% is spent on domestically produced goods. The multiplier is:

A2.5B1.67C1.25D0.6

Q113Business Economics & Commercial Knowledge vol.2

Larger budget deficit is used as tool to overcome from liquidity trap.

ATrueBFalseCD

Q114Fundamentals of Accounting

Depreciation expense of Rs.5,000 for the year was wrongly recorded by crediting the Depreciation Expense account and debiting Accumulated Depreciation. What is the correct journal entry to rectify this error?

ADebit Depreciation Expense Rs.5,000, Credit Accumulated Depreciation Rs.5,000BDebit Depreciation Expense Rs.10,000, Credit Accumulated Depreciation Rs.5,000CDebit Depreciation Expense Rs.10,000, Credit Accumulated Depreciation Rs.10,000DDebit Depreciation Expense Rs.5,000, Credit Accumulated Depreciation Rs.10,000

Q115Business & Commercial Knowledge

Which of the following is an intangible product attribute?

AColor of packagingBBrand image or reputationCPhysical sizeDWeight

Q116Business & Commercial Knowledge

The head office of a commercial bank receives online reports from all branches. The senior managers make use of these reports for strategic decision making. The information from all branches is stored in:

ACentralised databaseBLANCDBMSDOutsourcing

Q117Business & Commercial Knowledge

Which of the following statements is true in testing ethical decision-making for a project?:

ASelect only if the mirror test is clearedBSelect without considering the mirror testCSelect if legality is not obvious but can find a consultant to fix itDSelect if the primary objective of shareholders' value maximization is certain, ignoring the mirror test

Q118Quantitative Aptitude & Business Economics

The sum of the deviations of a set of observations from their mean is always:

AZeroBLess than meanCGreater than meanDNone of these

Q119Business Economics & Commercial Knowledge vol.2

If the real rate of interest is 3% pa and the expected rate of inflation is 6% pa, the nominal interest rate will be approximately

A0.5%B2%C3%D9%

Q120Business & Commercial Knowledge

A service differs from a good because it is:

ATangibleBIntangible and consumed at the point of saleCPhysical onlyDLong-lasting

Q121Quantitative Aptitude & Business Economics

The real ________ of the mean is that it may be affected by extreme values.

AAdvantageBDisadvantageCChoiceDNone of these

Q122Business & Commercial Knowledge

A manager awarding contract to friend's company creates:

AEthical practiceBConflict of interestCLegal requirementDBusiness strategy

Q123Fundamentals of Accounting

RT Sons: 500 units at Rs. 550 (incl 10% adj sales tax). Transport Rs. 40k (incl insurance Rs. 3k, selling cost Rs. 7k). Cost per unit per IAS-2?

ARs. 616BRs. 610CRs. 566DRs. 560

Q124Business & Commercial Knowledge

A structured interview ensures:_____

ASame questions for all candidatesBRandom questionsCOnly hard questionsDNo evaluation

Q125Business Economics & Commercial Knowledge vol.2

What could explain why the terms of trade of most developing economies tend to worsen over time?

ATheir currencies are over-valued in foreign exchange markets.BThey impose higher barriers on imports than developed economies.CThey produce a narrower range of goods than developed economies.DThey produce goods with a low-income elasticity of demand.

Q126Business & Commercial Knowledge

Earning profits contributes to society by providing employment, which in turn provides money that is reinvested in the economy. In addition, profits must be earned in:

AEthical and socially responsible manner.BLocal currency onlyCStrategic mannerDCompetitive markets

Q127Quantitative Aptitude & Business Economics

Arithmetic mean of 4 positive observations is 50. Which of the following CANNOT be a possible value?

A190B200C50D250

Q128Business & Commercial Knowledge

The purpose of a business is to:

AEarn profitBAvoid profitCPay maximum taxesDEmploy maximum people

Q129Fundamentals of Accounting

The double entry for return of goods purchased from Khan Limited on account is:

ACash (debit) and purchases (credit)BAccounts payable (debit) and purchases (credit)CAccounts payable (debit) and purchases return (credit)DNone of the above

Q130Business Economics & Commercial Knowledge vol.2

In the diagram A.D curve shifts towards right as a result price level & output level both increase. What is the cause of shift in A.D curve?

AIncrease in wage rateBIncrease in government spending’sCIncrease in indirect taxesDImprovement in technology

Q131Business Economics & Commercial Knowledge vol.2

In the relationship between consumption expenditure and income, which statement is correct?

AThe average propensity to consume is constantBThe average propensity to consume is rising.CThe marginal propensity to consume is equal to the average propensity to consumeDThe marginal propensity to consume is less than the average propensity to consume

Q132Business Economics & Commercial Knowledge vol.2

Consumer sovereignty, capital accumulation, less waste of resources; refers to:

ACapitalismBMixed Economic SystemCSocialismDCommand Economy

Q133Fundamentals of Accounting

The owner took inventory costing Rs. 10,000 and having selling price of Rs. 12,000 for personal use. The accountant recorded this transaction by debiting Drawings Rs. 12,000 and crediting Cash Rs. 12,000. The entity uses perpetual inventory system. What will be the correcting journal entry?

ADebit Cash Rs. 12,000; Credit Purchase Rs. 12,000BDebit Cash Rs. 12,000; Credit Inventory Rs. 12,000CDebit Cash Rs. 12,000; Credit Drawings Rs. 2,000 and Credit Purchases Rs. 10,000DDebit Cash Rs. 12,000; Credit Drawings Rs. 2,000 and Credit Inventory Rs. 10,000

Q134Business Economics & Commercial Knowledge vol.2

A monopolist's average revenue curve always slopes downwards because:

AEconomies of scale exist in distributionBThere are allocative inefficienciesCMarket demand increases as price fallsDMarginal revenue can be negative

Q135Business Economics & Commercial Knowledge vol.2

Which of the following would reduce inflation?

AAn increase in direct taxesBAn increase in indirect taxesCIncrease in government spendingDIncrease in income

Q136Fundamentals of Accounting

Calculate cost of machinery: Purchase 750k, Sales tax 10% non-adjustable, Refundable income tax 100k, Transport 60k, Admin 40k, Installation 50k, Abnormal losses 10k.

ARs. 860,000BRs. 935,000CRs. 975,000DRs. 985,000

Q137Fundamentals of Accounting

At year-end, closing entry to close the sales account shall be:

ASales Debit, statement of financial position CreditBSales Debit, Statement of comprehensive income CreditCStatement of financial position Debit, Sales CreditDStatement of comprehensive income Debit, Sales Credit

Q138Business & Commercial Knowledge

An organisation should treat its employees fairly and with respect. The fair treatment of employees includes all except

AOffice Equipment for Personal UseBWorking ConditionsCEducation And TrainingDSalary And Compensation

Q139Fundamentals of Accounting

During the year, a business paid an electricity bill for Rs. 900,000 for the 3 months to November. The year end of the business is 30 September, what accrual or prepayment is needed at the year end?

APrepaid Rs.600000BAccrued Rs.600000CPrepaid Rs.300000DAccrued Rs.300000

Q140Quantitative Aptitude & Business Economics

Find points of intersection of y = 2x² − 2x + 5 and y = 3x² − 11x + 25:

A( 5, 45) and (3, 29)B(4, 45) and (5, 45)C(2, 29) and (3, 45)D(4, 29) and (5, 45)

Q141Business Economics & Commercial Knowledge vol.2

Under which of the following circumstances, the value of the multiplier would be higher?

AWhen both marginal propensity to consume and marginal propensity to import are lowBWhen marginal propensity to consume is low and marginal propensity to import is highCWhen marginal propensity to consume is high and marginal propensity to import is lowDWhen both marginal propensity to consume and marginal propensity to import are high

Q142Quantitative Aptitude & Business Economics

Which of the following future values will have highest present value?

ARs. 250,000 at the end of 3 years with 10% per annum compounded interestBRs. 200,000 at the end of 2 years with 12% per annum compound interestCRs. 300,000 at the end of 4 years with 15% per annum compound interestDRs. 350,000 at the end of 5 years with 12% per annum compound interest

Q143Quantitative Aptitude & Business Economics

Mr. Abrar invested Rs. 22,000 at 8% p.a. and Rs. 19,600 at 10% p.a. (both simple interest). The two sums grew till both amounted to the same figure. In how many years did this happen and what was the final amount?

A8 years and Rs. 50,000B7.5 years and Rs. 56,320C15 years and Rs. 56,120D12 years and Rs. 43,120

Q144Fundamentals of Accounting

Trade receivables Rs. 4,400. Allowance per age analysis: 50 + 90 + 106 = 246. Net receivables?

ARs. 4,154BRs. 4,180CRs. 4,230DRs. 4,400

Q145Business Economics & Commercial Knowledge vol.2

Fiscal policy that seeks to increase the rate of economic growth is known as:

AExpansionary Fiscal PolicyBContractionary Fiscal PolicyCStable PolicyDNone of the above

Q146Quantitative Aptitude & Business Economics

Which of the following is INCORRECT?

Ax^2+x-6 = (x-2)(x+3)Bx^2-6x+8 = (x-4)(x-2)Cx^2-7x+12 = (x-3)(x-4)Dx^2-6x+12 = (x-3)(x-4)

Q147Business Economics & Commercial Knowledge vol.2

An increase in the income tax rate shifts the consumption line downward and makes the consumption line more steeply sloped.

ATrueBFalseCD

Q148Quantitative Aptitude & Business Economics

Which line is parallel to y = 4x + 5?

Ay = 5x + 4By = 4x + 7Cy = −3x + 7Dy = 2x + 5

Q149Fundamentals of Accounting

Monthly interest credited in bank statement but not in cash book should be:

ARecord as receipts in cash bookBRecord as payment in cash bookCRecord in BRS as uncredited itemDInform bank to reverse the entry

Q150Business Economics & Commercial Knowledge vol.2

Which of the following describes the dominant firm model?

AThe dominant firm produces at the intersection of market demand by its MC curve.BThe small firms are price takers.CThe dominant firm's demand curve is derived by subtracting output supplied by small firms from total market demand.DII and III

Q151Business & Commercial Knowledge

Understanding stakeholders helps in:

AResource allocationBIgnoring customersCAvoiding suppliersDReducing quality

Q152Business & Commercial Knowledge

Arranging credit for products like automobiles or homes is part of which marketing activity?:

AFinancingBBuyingCSellingDTransporting

Q153Fundamentals of Accounting

Which shall NOT be part of cost of inventory?

APurchase costBTransportation inCInsurance in transitDSelling cost

Q154Business & Commercial Knowledge

Job enrichment is not same as authority for a higher level of decision-making.

ATrueBFalseCD

Q155Quantitative Aptitude & Business Economics

From a deck of 52 cards, two cards are drawn in succession. The number of elements the sample space contains is:

A2704B1326C2652DNone of these

Q156Fundamentals of Accounting

Cheque issued Rs. 4,005,000 entered in bank book as Rs. 4,050,000 (error 45,000). Bank recorded as Rs. 4,500,000 (error 495,000). Appropriate action?

AInclude Rs. 45,000 on payment side and Rs. 495,000 in BRSBInclude Rs. 45,000 on receipt side and Rs. 45,000 in BRSCInclude Rs. 45,000 on receipt side and Rs. 495,000 in BRSDInclude Rs. 495,000 on payment side and Rs. 495,000 in BRS

Q157Quantitative Aptitude & Business Economics

If r = 0.9 and if 3 is subtracted from each observation of Y, then r will:

ADecrease by 3 unitsBDecrease by less than 3 unitsCRemain unchangedDNone of these

Q158Fundamentals of Accounting

Kamran's inventory includes a clock costing Rs. 158,000. Expected repair cost Rs. 7,000, selling price after repair Rs. 260,000, replacement cost Rs. 255,000. At what value should the clock be included in inventory?

ARs. 151,000BRs. 158,000CRs. 253,000DRs. 260,000

Q159Business Economics & Commercial Knowledge vol.2

The central bank of country Y has adopted a policy of inflation targeting to help control inflation levels in the country. Currently, inflation appears to be above the target level. Which of the following would you most expect to happen as a result of this?

AThe bank will raise interest ratesBThe bank will increase the money supplyCThe budget deficit will increaseDThe bank will buy government bonds

Q160Business & Commercial Knowledge

Teachers need to know about student progress in current semester. They should be provided with

AInformationBDataCKnowledgeDFacts

Q161Business & Commercial Knowledge

Which of the following is a reason why the government has an interest in all business organizations?

ABusinesses pay tax on profits, so the government has an interest in company profitability.BGovernment wants to encourage business investments.CThe government is interested in regulating business activity.DAll of the above

Q162Business & Commercial Knowledge

A transaction between two parties where the buyer receives goods (tangible or intangible), services and/or assets in exchange for money.

AMarketingBSalesCPromotionDPlace

Q163Quantitative Aptitude & Business Economics

A distribution whose graph is a symmetric bell shaped curve extending indefinitely in both directions, with equal measures of central tendency is known as:

ANon-skewed distributionBNormal distributionCBinomial distributionDNone of these

Q164Fundamentals of Accounting

The main source(s) of Generally Accepted Accounting Principles (GAAP) is/are:

ACompany LawBInternational Finance Reporting Standards (IFRSs)CTax lawDSales Tax Act

Q165Fundamentals of Accounting

Ali had opening inventory Rs. 1,500,000, purchases Rs. 2,550,000, sales Rs. 4,500,000, closing inventory Rs. 1,000,000. Gross profit for the period was?

ARs. 1,950,000 ProfitBRs. 450,000 ProfitCRs. 1,450,000 ProfitDRs. 550,000 Loss

Q166Fundamentals of Accounting

Which one is a capital transaction?

APurchase of goodsBPayment of wagesCSale of goodsDPurchase of machinery

Q167Fundamentals of Accounting

Which of the following combination is true in relation to non-current assets?

AEquipment, Furniture and inventoryBPlant, Equipment, Furniture and ReceivablesCPlant, Furniture and delivery vehiclesDEquipment, Vehicles and inventory

Q168Business Economics & Commercial Knowledge vol.2

In following diagram supply curve shows:

ARelatively elasticBRelatively inelasticCPerfectly elasticDPerfectly inelastic

Q169Business & Commercial Knowledge

Public sector organizations achieve:

AProfit objectivesBSocial objectivesCPersonal goalsDForeign objectives

Q170Business Economics & Commercial Knowledge vol.2

Following data has been provided to the Chief Executive Officer of a monopoly firm: Marginal revenue Rs. 10 Marginal cost Rs. 11 Average revenue Rs. 16 Average cost Rs. 12 To maximize profit the firm should:

AReduce price and increase outputBReduce price and reduce outputCIncrease price and increase outputDIncrease price and reduce output

Q171Business & Commercial Knowledge

In business relations the key factor that can help sustain the relationship in future is:

AContractual termsBNorms of businessCProfessionalismDHonesty

Q172Business Economics & Commercial Knowledge vol.2

The velocity of circulation can be defined as:

AThe money stock in a given period divided by the level of pricesBThe average time in which households spend their money incomeCThe total value of transactions in a given time period divided by the average price levelDThe number of times in a given time period that a unit of money is used to purchase final output

Q173Business Economics & Commercial Knowledge vol.2

Vertical Phillips curve shows

ANo trade off between unemployment and inflationBTrade off between unemployment and inflationCFixed relation between unemployment and inflationDInfinite relation between unemployment and inflation

Q174Quantitative Aptitude & Business Economics

Following is the saving plan of an individual: If he continues as per above plan, How much will he be able to save in years 2035 and 2036 in total.

ARs.2,050,000BRs.2,550,000CRs.2,150,000DRs.2,350,000

Q175Quantitative Aptitude & Business Economics

The value of x such that 4x, 8x, 8x² will form a GP is:

A2B3C4D5

Q176Quantitative Aptitude & Business Economics

Correlation between x and y is 0.2. Find correlation between u and v where 2u + 4x + 5 = 0 and 3v - 16y = 10.

A0.2B−0.2C0.36DNone

Q177Fundamentals of Accounting

Which account should be credited for Rs.180000 when writing off the account?

AAccounts receivableBAllowance for doubtful debtsCBad debts expenseDNone of the above

Q178Quantitative Aptitude & Business Economics

The ____ in a linear programming problem can be drawn as straight lines on a graph representing a boundary of what is feasible:

AObjective functionBConstraintsCProfit maximisationDCost minimisation

Q179Business Economics & Commercial Knowledge vol.2

Which of the following Investments creates an injection into the circular flow of income?

AAn Increase by a firm in its stocks of finished goods, prior to a marketing campaignBThe purchase by a pension fund of shares in a newly-privatized companyCThe purchase of a second-hand piece of farming machinery with their savings by a farming co-operative groupDThe takeover of one company by another company

Q180Business Economics & Commercial Knowledge vol.2

The government set the price floor at Pm, which shows:

ASurplus of good QBAn expected rise in the tax on future consumptionCAn expected rise in the price of the goodDShortage of goods in market

Q181Quantitative Aptitude & Business Economics

Depositing Rs.12,500 each year starting end of year 1 to accumulate Rs.150,000 at time of nth deposit at 4% interest. Number of years is:

A9 yearsB10 yearsC12 yearsD11 years

Q182Fundamentals of Accounting

Which statement is true?

AThe debit balance accounts are closed while credit balance accounts are carried forwardBThe credit balance accounts are closed while debit balance accounts are carried forwardCIncome expenses and drawings accounts are closed while assets liabilities and capital accounts are carried forwardDIncome expenses and capital accounts are closed while assets liabilities and drawings accounts are carried forward

Q183Fundamentals of Accounting

Which shall be recognized as current liability if realization/settlement due within one year?

AAccrued incomeBUnearned incomeCAccrued expenseDPrepaid expense

Q184Fundamentals of Accounting

A debit note is issued to a:

ACustomer for return of goodsBSupplier for return of goodsCCustomer to accept the goodsDSupplier to accept the goods

Q185Fundamentals of Accounting

June 1 sales Rs.800000 terms 1/10 n/30. June 3 customer returned Rs.100000. Seller expects to receive if buyer pays June 8?

A692000B693000C694000D700000

Q186Business Economics & Commercial Knowledge vol.2

If total consumer's expenditure increases in response to price fall, demand is:

ARelatively elasticBRelatively inelasticCUnitary elasticDAll of the above

Q187Fundamentals of Accounting

Sarfaraz purchased machine 1 Apr 2022 Rs. 200k, installation 20k, life 10 years, residual 5k. Depreciation entry for year ended 31 Dec 2022 using SLM?

ADr. Depreciation 21.5k; Cr. Accumulated depreciation 21.5kBDr. Accumulated depreciation 21.5k; Cr. Depreciation 21.5kCDr. Depreciation 16.125k; Cr. Accumulated depreciation 16.125kDDr. Accumulated depreciation 16.125k; Cr. Depreciation 16.125k

Q188Quantitative Aptitude & Business Economics

If r = 0.9 and each observation of x and y is divided by 10, then r will:

ADecrease by 10 timesBDecrease by 100 timesCRemain unchangedDNone of these

Q189Fundamentals of Accounting

What does the Adjusted Trial Balance include?

AOnly closing balances of assets and liabilitiesBAll ledger account balances after adjustmentsCOnly profit and loss accountsDJust the balances of nominal accounts

Q190Business Economics & Commercial Knowledge vol.2

When a transaction has an effect that extends beyond the parties to the transaction, that effect is called externality.

ATrueBFalseCD

Q191Quantitative Aptitude & Business Economics

Future value of Rs.1,355 invested at 8% p.a. simple interest for 5 years is:

ARs.1,897BRs.1,798CRs.1,987DRs.1,789

Q192Fundamentals of Accounting

Journal entry for issuance of petty cash imprest by cheque is:

APetty cash Debit Cash CreditBPetty cash Debit Bank CreditCBank Debit Petty cash CreditDNo journal entry will be passed

Q193Business Economics & Commercial Knowledge vol.2

Which of the following should NOT be the aim of a government?

AInequality of incomesBPrice stabilityCEconomic growthDFull employment

Q194Business Economics & Commercial Knowledge vol.2

Deflation is __________ indicator.

AGoodBRecessionaryCLeadingDLagging

Q195Fundamentals of Accounting

Bank statement OD Rs. 1,490,850. Uncleared Rs. 6,460,000 includes: returned cheque Rs. 366,000 (not recorded), cheque Rs. 76,000 (with 5% discount, recorded gross). Cash book corrected. Bank balance to report?

ARs. 7,584,850 OverdraftBRs. 4,603,150 Positive balanceCRs. 7,950,850 OverdraftDRs. 4,969,150 Positive balance

Q196Fundamentals of Accounting

Cash account Rs. 1,660,000 Dr. Bank statement OD Rs. 450,000. Unpresented Rs. 520,000, Uncleared Rs. 626,000. Cash book to report?

ARs. 344,000 in current assetsBRs. 344,000 in current liabilitiesCRs. 970,000 in current assetsDRs. 970,000 in current liabilities

Q197Business & Commercial Knowledge

Lease agreement is secured against the asset. In case of non-payment, the asset may be

ASold in marketBSold to lendersCRevalued for next loanDRepossessed

Q198Business Economics & Commercial Knowledge vol.2

Microeconomic study doesn't cover

AConsumer TheoryBTheory of Firm BehaviourCTheory of UnemploymentDTheory of Market Equilibrium

Q199Business Economics & Commercial Knowledge vol.2

"The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid ought all to be clear and plain to the contributor and to every other person." is called cannon of __________.

ACertaintyBEconomyCConvenienceDEquality

Q200Business Economics & Commercial Knowledge vol.2

Which of the following measures would be most consistent with the views of Friedman and other monetarist economists, for reducing the rate of inflation or unemployment?

AThe government should impose an incomes policy to keep inflation downBThe government can achieve lower unemployment, but only by accepting high levels of inflationCThe government should control the money supply so as to keep output in the economy at a full employment levelDLower unemployment can be achieved without higher inflation if the government reduces welfare benefits for the unemployed

Q201Business Economics & Commercial Knowledge vol.2

. Demand for money moving from MD1 to MD3 is

ARise in demandBFall in demandCExtension in demandDContrition in demand

Q202Fundamentals of Accounting

Raw material Rs. 185k at cost. 30% damaged, NRV 80% of cost. Remaining NRV higher than cost. Inventory value for FP?

ARs. 185,000BRs. 173,900CRs. 159,100DRs. 148,000

Q203Quantitative Aptitude & Business Economics

If 4 coins are tossed simultaneously, the number of outcomes containing at least two tails are:

A11B15C9DNone of these

Q204Business Economics & Commercial Knowledge vol.2

Which method of financing a government deficit will leave the money supply unchanged?

Athe sale of government securities to the central bankBthe sale of government securities to the commercial banksCthe sale of government securities to domestic residentsDthe sale of government securities to overseas residents

Q205Quantitative Aptitude & Business Economics

A company earns profit of Rs 250 and Rs 375 per unit on product X and Y respectively. Find the maximum profit that the company could earn if the company is subject to the following constraints: 4x+2y ≤ 25,000 3x+2y ≤ 20,000

ARs.1,666,667BRs.2,187,500CRs.3,750,000DRs.4,687,500