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

Advertisement

Q1Quantitative Aptitude & Business Economics

The average daily sales and standard deviations are: Ali (41,4.3), Atif (36,3.2), Ahmed (26,2.9), Azeem (24,2.5). Most inconsistent is:

AAliBAtifCAhmedDAzeem

Q2Business Economics & Commercial Knowledge vol.2

Which is likely to cause a decrease in aggregate supply?

Aa decrease in consumption expenditureBan increase in labor productivityCa decrease in rates of unemployment benefitDan increase in wage costs per unit of output

Q3Business & Commercial Knowledge

Management Support System (MSS) produces:

AGraphs onlyBRaw dataCRegular and special reportsDProfit-sharing plans

Q4Business Economics & Commercial Knowledge vol.2

Money which having no intrinsic value is called:

ACommodity moneyBFiat moneyCFull bodied moneyDToken money

Q5Business & Commercial Knowledge

The ideal duration of a human resource plan is:

AThree to five yearsBThree to seven yearsCBelow three yearsDOver three years

Q6Business & Commercial Knowledge

The goal of promotion is to:

AInform and influence customersBReduce product costsCManufacture goodsDManage human resources

Q7Business & 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

Q8Business & Commercial Knowledge

Most of integrated software suites in market are off-the-shelf solutions

ATrueBFalseCD

Q9Business & Commercial Knowledge

Registering a business as a limited partnership is advisable when business risk is:

AHighBLowCD

Q10Business Economics & Commercial Knowledge vol.2

Structural unemployment is best defined as unemployment caused by

Adefects in the industrial and commercial structureBa long-term decline in a particular industryCa mismatch between available jobs and the unemployedDa switch from labor-intensive to capital-Intensive production methods

Q11Business Economics & Commercial Knowledge vol.2

Which of the following factors will not cause shift in money demand curve?

AG.D.P.BFinancial innovationCRates of interestDInflation

Q12Business Economics & Commercial Knowledge vol.2

Gross domestic investment is the component of national accounting using ________.

AIncome approachBProduct approachCExpenditure approachDValue added approach

Q13Business Economics & Commercial Knowledge vol.2

A developing economy attracts additional foreign direct investment. What is likely to be the effect on its visible trade balance and on its invisibles balance?

AVisible trade balance:Improve , Invisible Balance:ImproveBVisible trade balance:Improve , Invisible Balance:WorsenCVisible trade balance:Worsen , Invisible Balance:ImproveDVisible trade balance:Worsen , Invisible Balance:Worsen

Q14Business & Commercial Knowledge

A boss who wants to develop individuals will give responsibilities and ________.

ADelegate authorityBPass ordersCSupportDGive tasks

Q15Business Economics & Commercial Knowledge vol.2

According to Keynesian liquidity preference theory, an increase in the money supply will:

ARaise the price of financial assetsBIncrease in price of bondsCLower the rate of interestDAll of above

Q16Business Economics & Commercial Knowledge vol.2

Credit creation might increase money supply in the country which may cause inflation.

ATrueBFalseCD

Q17Business Economics & Commercial Knowledge vol.2

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

AIncreaseBDecreaseCIncrease by 10%DDecrease by 10%

Q18Business & Commercial Knowledge

If bribe was offered by client to a member of audit team to overlook the double accounting and record keeping:

AMirror test failed to prove its efficacyBMirror test cannot be used after action is takenCMirror test is for moral judgementDNone of the above

Q19Fundamentals of Accounting

Hamid's inventory at December 31, 2018: Product A Cost Rs. 15,000, NRV Rs. 17,000; B Cost Rs. 12,000, NRV Rs. 10,000; C Cost Rs. 13,500, NRV Rs. 11,000; D Cost Rs. 12,600, NRV Rs. 14,000. Total Cost Rs. 53,100, Total NRV Rs. 52,000. What value should be shown in Statement of Financial Position?

ARs. 48,600BRs. 50,600CRs. 52,000DRs. 53,100

Q20Business Economics & Commercial Knowledge vol.2

If the level of real incomes of the population in Pakistan were to rise, the Pakistan's balance of payments position would worsen because:

AThe Pakistan's terms of trade would betterBExport prices would riseCImport volumes would riseDRupee would appreciate in value

Q21Business Economics & Commercial Knowledge vol.2

If all the commercial banks in a national economy operated on cash reserve ratio of 20%. How much cash would have to be deposited with the banks for the money supply to increase by Rs.300 million?

ARs.60 millionBRs.75 millionCRs.225 millionDRs.240 million

Q22Business & Commercial Knowledge

Consumer goods have:

ALimited buyersBNumerous buyersCOnly industrial useDNo branding

Q23Fundamentals of Accounting

An entity purchases a machine for Rs. 500,000. The machine has an expected residual value of Rs. 50,000 and a useful life of 5 years. What is total depreciation over 3 years using straight line method and reducing balance method?

AStraight line method Rs. 250,000; Reducing balance method Rs. 350,000BStraight line method Rs. 300,000; Reducing balance method Rs. 280,587CStraight line method Rs. 275,000; Reducing balance method Rs. 380,500DStraight line method Rs. 270,000; Reducing balance method Rs. 374,381

Q24Business Economics & Commercial Knowledge vol.2

Which of the following may cause an increase in National Income?

AA fall in investmentBA rise in exportsCAn increase in savingDA fall in consumer spending

Q25Business Economics & Commercial Knowledge vol.2

In a market economy, the allocation of resources between different productive activities is determined mainly by the:

ADecisions of the governmentBWealth of entrepreneursCPattern of consumer expenditureDSupply of factors of production

Advertisement

Q26Business Economics & Commercial Knowledge vol.2

If rise in aggregate demand is greater than increase in short run aggregate supply curve then

APrice and output level will increaseBPrice and output level will decreaseCPrice will increase and output level will decreaseDPrice will decrease and output will increase

Q27Fundamentals of Accounting

Depreciation shall start from:

ADate when advance is paid against assetBDate when asset is purchasedCDate when asset shall be available for useDDate when asset shall be used

Q28Fundamentals of Accounting

Which of the following statement(s) is/are correct? 1. The comparative figures for financial statements should be disclosed. 2. Financial statements should present financial performance, financial position and cash position on fair basis.

AStatement (1) onlyBStatement (2) onlyCBoth statements are correctDNeither of the statements is correct

Q29Business & Commercial Knowledge

Financing in marketing is necessary to:

AManage employee benefitsBFacilitate purchases of expensive productsCPromote brand imagesDConduct advertising

Q30Business & Commercial Knowledge

Manager hired one of the close relatives to do the job of factory quality control when there were more competent candidates for the job. This is an example of:

AOkay as it will help receive honest reportsBIt will provide insight in factory operation weeklyCIt will maintain disciplineDIt is a conflict of interest

Q31Fundamentals of Accounting

Entity A: PPE Cost Rs. 100M, Accumulated dep Rs. 80M. Entity B: PPE Cost Rs. 25M, Accumulated dep Rs. 5M. Both have CA of Rs. 20M. Which TWO statements are correct?

AThe details above do not provide any comparable informationBEntity A has initially invested more in non-current assets as compared to Entity BCEntity A has older assets as compared to Entity BDEntity A profitability must be higher than Entity B

Q32Business Economics & Commercial Knowledge vol.2

Macroeconomics is not concerned with.

AThe level of output of goods and services.BThe general level of pricesCThe growth of incomeDLabour productivity

Q33Fundamentals of Accounting

Sold on credit: Abid Rs. 25,000, Sajid Rs. 15,000. Cash sales to Nadir Rs. 20,000. Bought from Javed on credit Rs. 15,000. Balance of list of customers from receivable ledgers?

ARs. 75,000BRs. 60,000CRs. 55,000DRs. 40,000

Q34Fundamentals of Accounting

Receivables 330k before adjustments. Write off NM 8.5k, 100% allowance Raja 15k, general allowance 5%, opening allowance 22.1k. Corrected receivables and allowance for FP?

AReceivables 330k, allowance 9.4kBReceivables 330k, allowance 31.5kCReceivables 321.5k, allowance 30.325kDReceivables 321.5k, allowance 31.075k

Q35Fundamentals of Accounting

Per IAS-2, which TWO included in manufacturing inventory cost?

ACarriage InwardsBStorage cost of finished goodsCDepreciation of furnitureDDepreciation of plant

Q36Fundamentals of Accounting

Each receipt (other than from customers) as recorded in Cash Book is posted to:

Acredit side of individual customers' account in Receivables LedgerBcredit side of relevant account in General LedgerCdebit side of individual customers' account in Receivables LedgerDdebit side of discount allowed account in General Ledger

Q37Business Economics & Commercial Knowledge vol.2

Suppose the equilibrium output is initially $600 billion. A decrease in taxes, there will be an ________ in equilibrium output and ________ the price level.

ADecrease; leaves unchangedBLeaves unchanged; increaseCIncrease; increaseDIncrease; decrease

Q38Business & Commercial Knowledge

How can shareholders influence major business decisions?

ABy providing feedback on employee performance.BThrough voting rights.CBy managing day-to-day operations.DBy controlling the company's marketing strategy.

Q39Business & Commercial Knowledge

Special payment on achievement of targets is:

ASharesBSalaryCInsuranceDBonus

Q40Quantitative Aptitude & Business Economics

A random sample of size n from population N, with K successes and N-K failures, describes a:

ABinomial experimentBPoisson experimentCHypergeometric experimentDNone of these

Q41Fundamentals of Accounting

Errors: (i) Owner's rent Rs. 1,500 debited to business rent (ii) Stationery Rs. 500 debited to machinery, depreciation 10% (iii) Freight Rs. 150 for sold inventory debited to stationery. Profit before correction Rs. 10,500. Corrected profit?

ARs. 11,500BRs. 11,550CRs. 11,600DRs. 11,750

Q42Quantitative Aptitude & Business Economics

A three-year investment yields a return of 25% over the period. Compute the effective annual rate of return.

A8.33%B7.72%C6%D5%

Q43Fundamentals of Accounting

Which error will cause an entry in the suspense account?

AA transposition error when transferring a ledger account balance to the trial balanceBAn error of commission where the wrong account is used for a transaction, but it is the correct type of accountCAn error of omissionDAn error of principle

Q44Business Economics & Commercial Knowledge vol.2

Depreciation allowance is NOT considered while calculating

AGross National IncomeBGross Domestic IncomeCPersonal IncomeDAll of the above

Q45Business Economics & Commercial Knowledge vol.2

If reserve ratio increases from 10% to 20% then credit in the economy will be_________

Aincrease by 50%Bdecrease by 50%Cincrease by 10%Ddecrease by 5%

Q46Quantitative Aptitude & Business Economics

Fahad: Option i: invest Rs.500,000 get Rs.300,000/yr for 2 yrs. Option ii: invest Rs.500,000 get Rs.900,000 at end yr3. Internal rates of return for each are:

A18% and 21.64%B13.07% and 18.05%C14.63% and 16.35%D13.07% and 21.64%

Q47Business & Commercial Knowledge

Partnership involves ownership by:

AOne personBAt least two peopleCOnly family membersDOnly friends

Q48Fundamentals of Accounting

Mohtashim received 2-year rent Rs. 720k on 1 Mar 2022. Closed books 30 Jun 2022. Correct treatment for unearned rental income at 30 Jun 2022?

ARecognize Rs. 600k as current liabilityBRecognize Rs. 240k current, Rs. 360k non-current liabilityCRecognize Rs. 360k current, Rs. 240k non-current liabilityDRecognize Rs. 600k as non-current liability

Q49Business & Commercial Knowledge

Maturity date for repayment of principal amount is a concern for

ADebt financingBEquity financingCShare capitalDretained earnings

Q50Fundamentals of Accounting

Which statements are NOT correct regarding depreciation?

AAccumulated depreciation charged as expense in CIBDepreciation expense charged as expense in CICAccumulated depreciation recognized as asset in FPDDepreciation expense recognized as asset in FP

Advertisement

Q51Business & Commercial Knowledge

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

AFinancingBBuyingCSellingDTransporting

Q52Quantitative Aptitude & Business Economics

By comparing -5x^2 - 3x - 6 = 0 with ax^2 + bx + c = 0, the values of a, b and c are:

A-5, -3 and -6B-5, 3 and 6C5, 3 and 6D-5, 3 and -6

Q53Business & Commercial Knowledge

As a sole proprietor Moona is running her own beauty salon. She received the training from a local beautician college. Being sole owner of the business, she may have her limits in which of the following capacities:

AManagerialBTechnicalCPurchase of beauty productsDAll of above

Q54Business & Commercial Knowledge

_________________ is defined as "set of moral principles which guide organizations on what is right, wrong, and appropriate in the workplace":

AEthicsBBusiness EthicsCLegal EthicsDCorporate Social Responsibility

Q55Fundamentals of Accounting

Customer paid Rs. 80,000 but cashier entered Rs. 88,000 in cash book. Adjustment?

ARs. 8,000 will be debited in cash bookBRs. 8,000 will be credited in cash bookCRs. 16,000 will be debited in cash bookDRs. 16,000 will be credited in the cash book

Q56Business & Commercial Knowledge

The matrix structure is not suitable where:

ACulture is to obey one leaderBComplex projects are managedCCommunication is keyDInnovation is required

Q57Quantitative Aptitude & Business Economics

If each observation is divided by a constant x, variance will:

ADecrease by x timesBIncrease by x timesCDecrease by x^2 timesDNone of these

Q58Fundamentals 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

Q59Business Economics & Commercial Knowledge vol.2

The government introduces a minimum wage rate beyond the equilibrium wage rate. What effect will this have on labour market.

AUnemploymentBSurplus of labourCDecrease in labour demandDAll of the above

Q60Business Economics & Commercial Knowledge vol.2

If a government wishes to increase consumer spending, it could increase the rate of:

AIncome taxBCorporation taxCImport dutiesDSocial security payments

Q61Quantitative Aptitude & Business Economics

Which statement about perpendicular lines is correct?

APerpendicular lines have only one point of intersectionBParallel lines never intersectCGradients of two perpendicular lines are always equal but opposite in signsDAll of the above

Q62Business Economics & Commercial Knowledge vol.2

The development of money as a medium of exchange has facilitated the expansion of trade because

Aholding money increases people's wealth.Bholding money increases people's income.Cmoney eliminates the "double coincidence of wants" problem.Dno other mediums of exchange are available.

Q63Business & 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

Q64Fundamentals of Accounting

Which of the following statement(s) is/are TRUE in relation to bank reconciliation statement?

AThe purpose of bank reconciliation is to ensure that all differences in cash book balance and bank statement balances are identified.BThe balance of bank statement overdrawn shall be recorded as current liability in the statement of financial position.CThe balance of cash book before adjustment should not be shown in statement of financial position.DAll statements are true

Q65Fundamentals of Accounting

If capital expenditure wrongly charged as expense, what would occur?

AOverstatement of profit, understatement of net assetsBUnderstatement of profit, overstatement of net assetsCOverstatement of both profit and net assetsDUnderstatement of both profit and net assets

Q66Fundamentals of Accounting

Each invoice value from sales journal is posted to:

Acredit side of individual customer account in Receivables Ledger.Bdebit side of individual customer account in Receivables Ledger.Ccredit side of sales account in General Ledger.Ddebit side of sales account in General Ledger.

Q67Fundamentals of Accounting

Which of the following best illustrates the verifiability concept in accounting?

AA company uses advanced software to prepare its financial statementsBThe auditors independently provide assurance that the company's financial statements accurately represent its economic activitiesCA business adopts new accounting policies to improve efficiencyDFinancial statements are prepared promptly to meet reporting deadlines

Q68Quantitative Aptitude & Business Economics

The square of r is known as:

ACo-efficient of correlationBCo-efficient of regressionCCo-efficient of determinationDNone of these

Q69Business Economics & Commercial Knowledge vol.2

In the production possibility curve below what combination of two goods cannot be produced given current levels of resources.

AABBCCDD

Q70Business Economics & Commercial Knowledge vol.2

In the theory of the demand for money, the transactions demand for money is determined by:

AThe level of consumers' incomesBExpected changes in interest ratesCExpected changes in bond pricesDThe level of notes and coins in circulation

Q71Business Economics & Commercial Knowledge vol.2

Suppose that you purchased a ticket to a ICAP festival for Rs.100 from an online ticket broker. Once you arrived at the festival, you discovered that parking costs you an additional Rs.10. In this situation, the additional Rs.10 you pay for parking is an example of

AAn economic loss.BOpportunity cost.CMarginal cost.DAn inefficient cost.

Q72Business Economics & Commercial Knowledge vol.2

If in given period of time price index for export increased by 20% and price index of import raised by 10%, then the terms of trade will be:

A120B200C119D99

Q73Business & Commercial Knowledge

A mission statement focuses on:

APresent operationsBFuture goalsCPast achievementsDEmployee benefits

Q74Fundamentals of Accounting

On 22nd February equipment was purchased for Rs. 800,000, delivered immediately. Entity paid Rs. 500,000 immediately and remaining on 4th March. What journal entry on 22nd February?

ADebit Equipment Rs. 800,000; Credit Bank Rs. 500,000; Credit Advance Rs. 300,000BDebit Equipment Rs. 800,000; Credit Payables Rs. 500,000; Credit Bank Rs. 300,000CDebit Equipment Rs. 800,000; Credit Bank Rs. 500,000; Credit Payables Rs. 300,000DDebit Equipment Rs. 800,000; Credit Advance Rs. 500,000; Credit Payables Rs. 300,000

Q75Business & Commercial Knowledge

Organizational structures allow authority and responsibility to be used for the achievement of overall objectives such as:

AFunctional objectivesBStrategic objectivesCPersonal objectivesDAll of the above

Advertisement

Q76Quantitative Aptitude & Business Economics

Asif (age 30) deposits equal amounts every year starting today until age 40 to have Rs.5,000,000. Interest rate 11% p.a. Annual deposit required is:

ARs.255,605BRs.299,007CRs.268,905DRs.300,000

Q77Business Economics & Commercial Knowledge vol.2

NNPfc= …………?

AGNPfc+Depreciation –Indirect taxes +subsidiesBGNPmp-Depreciation – Indirect taxes +subsidiesCGNPfc+Depreciation + Indirect taxes +subsidiesDGNPfc+Depreciation + Indirect taxes -subsidies

Q78Fundamentals of Accounting

Which shall be recorded in petty cash book?

ACash received from customerBCash paid to supplierCCash purchaseDTravelling expense

Q79Fundamentals of Accounting

Insurance premium year to 31 Mar 2016 paid Apr 2015 Rs.10800. Premium year to 31 Mar 2017 paid Apr 2016 Rs.12000. Year ended 30 June 2016. P&L and SFP amounts?

AP&L Rs.11100 Prepaid Rs.9000BP&L Rs.11700 Prepaid Rs.9000CP&L Rs.11100 Accrual Rs.9000DP&L Rs.11700 Accrual Rs.9000

Q80Business & Commercial Knowledge

NoshShoes is a Private Limited company that is facing legal action from basketball players who suffered foot injuries due to poor finishing of their sportswear range. The case will be:

APlayer vs. DirectorsBPlayer vs. StakeholdersCPlayer vs. NoshShoesDPlayer vs. Management

Q81Quantitative Aptitude & Business Economics

A sum invested at CI amounts to Rs.5,280 in 2 years and Rs.5,808 in 3 years. The sum of money is:

ARs.4,363.64BRs.4,080CRs.4,750DRs.4,500

Q82Fundamentals 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

Q83Quantitative Aptitude & Business Economics

Given b=1.89, x_bar =5.75 and y̅=11. Calculate a.

A5.75B11C0.1325D0.25

Q84Business & Commercial Knowledge

Chartered accountant using outdated standards violates:

AProfessional competenceBIntegrityCObjectivityDConfidentiality

Q85Business & Commercial Knowledge

A code of conduct outlines:_____

AExpected behaviourBParty rulesCDress onlyDOffice paint colours

Q86Business Economics & Commercial Knowledge vol.2

P.P.F. is concave to the origin because of:

AIncreasing opportunity costBDecreasing opportunity costCEfficient use of resourcesDFull Employment

Q87Business & Commercial Knowledge

Liability of general partners in a limited partnership is:

AFixedBUnlimitedCNot definedDLimited to invested capital only

Q88Fundamentals of Accounting

A business has capital of Rs.10000. Which of the following asset and liability figures could appear in this business's statement of financial position? Assets (Rs.) / Liabilities (Rs.)

A6000 / 16000B6000 / 4000C10000 / 10000D14000 / 4000

Q89Business Economics & Commercial Knowledge vol.2

If the nominal rate of interest is 5% per annum and the annual rate of inflation is 10%, real rate of interest (to the nearest whole number) will be________?

A2%B-5%C5%D7%

Q90Business & Commercial Knowledge

Interest rates are typically a part of

ALoansBAccounts receivables factoringCstocksDshares issuance

Q91Business & Commercial Knowledge

Current assets are those that can be converted into cash within:

A2 yearsB5 yearsC1 yearD6 years

Q92Fundamentals of Accounting

Opening allowance overstated, wrong amount charged to P&L. Impact on net profit and net assets for current year?

AProfit understated by double amountBProfit overstated by double amountCProfit understated by single amountDProfit overstated by single amount

Q93Business & Commercial Knowledge

Database records may include:

ACustomer contact detailsBWeather forecast onlyCTV scheduleDCinema performance

Q94Fundamentals of Accounting

A businessman maintains petty cash under imprest system. Imprest amount Rs.500. Payments totalling Rs.300 were made during the month. How much will be reimbursed to restore petty cash to imprest amount?

ARs. 200BRs. 300CRs. 500DRs. 800

Q95Quantitative Aptitude & Business Economics

The last term of the series x^2, x, 1 to 31 terms is:

Ax^28B1/xC1/x^28DNone of these

Q96Business Economics & Commercial Knowledge vol.2

Sufficient condition for a firm to be in equilibrium is:

AA.R. = PriceBM. R. = M.CCM.C. = A. RDMarginal cost equal to marginal revenue while it is increasing

Q97Business & Commercial Knowledge

Which of the following is a feature of preference shares?

AMost preference shares are issued with a variable rate of annual dividendBPreference dividends are paid out of after-tax profitsCPreference shareholders will not be entitled to receive dividendsDa and c

Q98Business Economics & Commercial Knowledge vol.2

Near to full employment level the multiplier effect will be?

AlesserBgreaterCzeroDthere is no relation between multiplier and full employment level

Q99Business Economics & Commercial Knowledge vol.2

If consumption function is: C = 500 + 0.75y Value of multiplier would be:

A0.75B500C5D4

Q100Fundamentals of Accounting

Which account shall be balanced off rather than closed off?

AFurnitureBSalariesCSalesDDiscount allowed

Advertisement

Q101Fundamentals of Accounting

Correction of the following would not result in reduction of favourable balance of cash book, after adjustment?

ABank charges recorded twice in cash bookBBank charges were not recorded in cash bookCStanding order payment was omitted to be recorded in cash bookDStanding order payment was recorded on wrong side of cash book

Q102Fundamentals of Accounting

Machine Rs. 600k, residual 10% of cost, life 6 years. Reducing balance method. Depreciation rate to bring carrying value to residual at end?

A28%B29%C30%D32%

Q103Business Economics & Commercial Knowledge vol.2

An economy with no government sector has a consumption function which is thought to be (in Rs. billion) C= 100+ 0.8Y. However, of additional goods consumed, three quarters are imports. There is an increase in investment spending of Rs.20 billion. By how much will national income increase?

ARs.25 billionBRs.45 billionCRs.100 billionDRs.120 billion

Q104Business Economics & Commercial Knowledge vol.2

Change in inflationary expectations will cause

AVertical Aggregate Supply curveBPositively sloped aggregate supply curveCShift in aggregate supply curveDNone of above

Q105Business Economics & Commercial Knowledge vol.2

A Rs 5 billion increase in investment spending results in a Rs 50 billion increase in the equilibrium level of output when the MPC is 0.90 and aggregate supply is horizontal.

ATrueBFalseCD

Q106Business Economics & Commercial Knowledge vol.2

Government budget is said to be balanced when:

AGovernment expenditure exceeds tax receiptsBGovernment tax receipts exceed expenditureCGovernment spending decreases and revenues increaseDGovernment expenditure equals tax revenue

Q107Quantitative Aptitude & Business Economics

Five times the square of a number added to twice itself equals 24. Express as quadratic equation:

A5x^2+2x=24B5x^2+2x^2=24C5x^2+2x^3=24D5x+2x^2=24

Q108Business & Commercial Knowledge

Which of the following is NOT mentioned as a factor that affects an employee's stake in the business?

AJob securityBStock optionsCFair wagesDOpportunities for career progression

Q109Business & Commercial Knowledge

The life of a sole proprietorship is very:

AStableBVery Short LifeCUnstableDLong Life

Q110Fundamentals of Accounting

How is profit-sharing ratio determined in absence of agreement?

ABased on capital contributed by each partnerBEqually shared among all partnersCBased on seniority of each partnerDProportionate to the number of hours worked by each partner

Q111Business & Commercial Knowledge

H Travel tours provide various packages to northern areas travellers. Travellers can avail help from local students who help them in exploring the place. The students who help tourists get volunteer certificates along with school fee support. Travellers receive the information on this value-added service through social media. This is categorized as:

AHTravel CSRBMarketingCBrandingDSales

Q112Quantitative Aptitude & Business Economics

Company profits Rs.50,000 in year 1 increasing by Rs.5,000/year. Years to earn total profit of Rs.165,000:

A4B3C5D2

Q113Quantitative Aptitude & Business Economics

The last term of the sequence 1, -4, 16, ... to 5th term is:

A64B256C-256D-64

Q114Quantitative Aptitude & Business Economics

Contribution/unit = Rs. 75, VC/unit = Rs. 25. Compute sales revenue from 13 units:

ARs. 1,300BRs. 100CRs. 1,400DRs. 125

Q115Fundamentals of Accounting

Sale Rs. 56,000 entered in daybook as Rs. 65,000, posted to customer as Rs. 6,500. No control accounts. Journal to correct?

ADebit Trade receivables Rs. 6,500, Debit Suspense Rs. 58,500 & Credit Sales Rs. 65,000BDebit Sales Rs. 65,000, Credit Trade receivable Rs. 6,500 & Credit Suspense Rs. 58,500CDebit Trade receivables Rs. 49,500, Debit Sales 9,000 & Credit Suspense Rs. 58,500DDebit Suspense Rs. 58,500, Credit Trade receivables Rs. 49,500 & Credit Sales 9,000

Q116Quantitative Aptitude & Business Economics

Roots of (x-5)(ax-2)=0 are 5 and 1. Find a:

A4B3C2D1

Q117Business & Commercial Knowledge

Which of the following is NOT a key component of the marketing concept?:

AFocusing on customer needsBIntegrating organizational activitiesCAchieving long-term goals legally and responsiblyDManipulating consumers

Q118Quantitative Aptitude & Business Economics

Max demand for x = 400 units and y = 300 units. Represent using inequalities:

AX ≥ 0, y ≥ 0, x ≤ 400 and y ≤ 300BX ≥ 0, y ≥ 0, x ≥ 400 and y ≥ 300CX ≥ 0, y ≥ 0, x ≥ 400 and y ≤ 300DX ≥ 0, y ≥ 0, x ≤ 400 and y ≥ 300

Q119Quantitative 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

Q120Business Economics & Commercial Knowledge vol.2

Direct action taken by central bank involves:

AFine and penalty to banksBRefuse to discountingCDiscrimination of interest rate among banksDAll of above

Q121Fundamentals of Accounting

In which book of prime entry credit notes issued to customers are initially recorded?

ASales JournalBSales Return JournalCPurchase JournalDPurchase return Journal

Q122Business & Commercial Knowledge

Internal stakeholders work:

AOutside the organizationBWithin the organizationCFor the governmentDFor customers

Q123Business & Commercial Knowledge

External stakeholders include:

AManagers and directorsBEmployees and workersCGovernment and publicDShareholders and owners

Q124Quantitative Aptitude & Business Economics

Production of product a will always be 10 more than production of product b. Express as inequality:

Aa ≥ b + 10Ba ≤ b + 10Ca ≥ b − 10Da ≤ b − 10

Q125Business & Commercial Knowledge

Objectivity requires:

ABias and prejudiceBNo judgmentCUnbiased judgmentDPersonal interests

Advertisement

Q126Quantitative Aptitude & Business Economics

A firm train employee to use a statistical software package. A random sample of trainees turned in the following performance Predict the no of errors for a person with 5 hours of training.

A3.43B4C2.87D3

Q127Business & Commercial Knowledge

Products like tyres can serve:

AOnly industrial marketsBOnly consumer marketsCBoth industrial and consumer marketsDOnly digital buyers

Q128Quantitative Aptitude & Business Economics

Sum of 5 terms of AP whose last term is 17 is 65. First term and common difference are:

A9 and 2B13 and 2C11 and 7D11 and 2

Q129Quantitative Aptitude & Business Economics

A company has received an order for 228,000 units of their product, which will use all available capacity for a number of weeks. Production will be 7,200 units in the first week, 7,400 units in the second week, and 7,600 units in the third week, and so on How many weeks will it take to complete production for the order of 228,000?

A24B25C95D94

Q130Quantitative Aptitude & Business Economics

If a two year investment leads to 10% increase in first year and a 10% decrease in second year. What will be the effective gain/loss to investor over two years?

ABreak-evenBLoss of 1%CGain of 1%DCannot be determined with the information provided above

Q131Quantitative Aptitude & Business Economics

The predictor or unexplained variable is also called:

AThe independent variableBThe dependent variableCRandom variableDNone of these

Q132Business Economics & Commercial Knowledge vol.2

Monopoly power may be based on:

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

Q133Quantitative Aptitude & Business Economics

Car travels at 45 km/h for first 3 hours then 65 km/h. Total journey 590 km. Total hours:

A8 hoursB10 hoursC7 hoursD9 hours

Q134Business Economics & Commercial Knowledge vol.2

Gross investment in the national income accounts includes

APublic SavingsBPrivate SavingsCchanges in business inventories plus depreciation costDall of the above

Q135Business & Commercial Knowledge

Code of conduct is for:

AEmployeesBEmployersCBoth a and bDAll stakeholders

Q136Business & Commercial Knowledge

Sources of equity finance can include the following EXCEPT:

AProfitBLoansCCommon stockDPreferred stock

Q137Business Economics & Commercial Knowledge vol.2

Which of the following would not be counted in 2023's GDP?

AThe value of a 2018 boat you purchase from a boat dealer in 2023BThe 2023 salary of a used motorcycle salespersonCThe commissions earned by a real estate agent in selling condominiums built prior to 2023DThe value of a refrigerator manufactured in 2023 but not sold in 2023

Q138Fundamentals of Accounting

At June 30, 2017, gross receivables were Rs. 3,10,000. During the year, debts of Rs. 30,000 were written off as irrecoverable. The company maintains an allowance for doubtful debts at 2% of net receivables after write-offs. Calculate the net receivables as it would appear in the Statement of Financial Position.

ARs. 274400BRs. 280000CRs. 304400DRs. 310000

Q139Business Economics & Commercial Knowledge vol.2

Which of the following is not a feature of a mixed economy?

AWelfare payments to the long-term sickBPublic ownership of all means of productionCGovernment control of interest ratesDPrivate ownership of land

Q140Fundamentals of Accounting

Equipment ordered for Rs. 800,000 with 20% advance on 22nd Feb. Delivered on 4th March when entity paid 50% of total bill and promised remaining on 25th April. Journal entry on 4th March?

ADebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 400,000 & Payables Rs. 240,000BDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 740,000CDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 320,000 & Payables Rs. 320,000DDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Payables Rs. 640,000

Q141Quantitative Aptitude & Business Economics

______ price index tends to overstate inflation whereas ______ price index tends to understate it, because consumers react to price increases by changing what they buy.

ALaspeyre's / Paasche'sBPaasche's / Laspeyre'sCFisher's / Laspeyre'sDLaspeyre's / Fisher's

Q142Business Economics & Commercial Knowledge vol.2

Which type of unemployment arose from the worldwide decline in the demand for electronic goods beginning in the summer of 2001?

ASeasonalBVoluntaryCFrictionalDStructural

Q143Business & Commercial Knowledge

Moona, a sole proprietor beautician, may have limits in:

AManagerial capacityBTechnical capacityCPurchase of beauty productsDAll of the above

Q144Fundamentals of Accounting

Which are examples of financial business transactions?

AReceipt of loan proceedsBCash purchases of raw materialsCOrder placed for purchase of machineDGoods taken by owner for personal use

Q145Fundamentals of Accounting

Partners A and B equal profit sharing. Only B gets salary. Net profit earned. Which is correct?

ABoth partners equal profit creditedBPartner A more profit creditedCPartner B more profit creditedDPartner with higher capital gets more profit

Q146Business 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

Q147Business Economics & Commercial Knowledge vol.2

If the economy is operating on the relatively vertical segment of the aggregate supply curve, an increase in aggregate demand causes a ________ change in the price level and a ________ change in output.

ASmall; small/noBBig; bigCBig; small/noDSmall/no; big

Q148Quantitative Aptitude & Business Economics

The union forbids employing less than 2 experienced persons to each fresh person. This situation can be expressed as:

Ax≤y/2By≤x/2Cy≥x/2Dx>2y

Q149Quantitative Aptitude & Business Economics

How would the future value of an amount invested at 9% compound interest change in 8 years?

ADoubleBHalfCQuadrupleDWill remain same

Q150Business Economics & Commercial Knowledge vol.2

Which one account for cost push inflation?

AIncrease in populationBIncrease in indirect taxesCIncrease in direct taxDIncrease in imports

Advertisement

Q151Quantitative Aptitude & Business Economics

The sum of all natural numbers between 500 and 1000 divisible by 13 is:

A28,405B24,805C28,540DNone of these

Q152Business Economics & Commercial Knowledge vol.2

Which of the following cannot be termed a 'transfer payment' for the purpose of National Income accounting?

AAmount given on health cardsBSalaries paid to private sector employeesCPayments of state pensionsDSocial security payments

Q153Business & Commercial Knowledge

Which of the following is not the purpose of a job analysis?

AJob descriptionBJob specificationCAll of the aboveDNone of the above

Q154Fundamentals of Accounting

Which is/are not necessarily considered as book of prime entry in small and medium size businesses?

ACash bookBPurchase day bookCSales day bookDCash receipt book

Q155Fundamentals of Accounting

Opening receivables 100k, allowance 5k. Bad debts written off 4k, closing receivables 120k, recovered 3k. Same allowance %. Net amount to statement of CI?

ARs. 2,000 Dr.BRs. 2,000 Cr.CRs. 8,000 Dr.DRs. 8,000 Cr.

Q156Business Economics & Commercial Knowledge vol.2

Which of the following statement is correct?

AWhen average cost is constant, the marginal cost must be fallingBWhen average cost is rising, the marginal cost is lower than the average costCWhen average cost is rising, the marginal cost is higher than the average costD

Q157Business Economics & Commercial Knowledge vol.2

Price elasticity of demand for Giffen goods is always.

APositiveBNegativeCZeroDInfinity

Q158Business & Commercial Knowledge

A manager awarding contract to friend's company creates:

AEthical practiceBConflict of interestCLegal requirementDBusiness strategy

Q159Business & Commercial Knowledge

MB computers is a sole owner business producing and selling industrial computers. The business has pending payments to suppliers for a quantity of components purchased the delayed payments are completely a responsibility of:

AOwnerBLine ManagersCShareholdersDFinance Manager

Q160Business & Commercial Knowledge

The primary goal of marketing is to:

AIncrease short-term sales onlyBSystematically satisfy consumer needs and wantsCReduce product qualityDAvoid interaction with customers

Q161Quantitative Aptitude & Business Economics

Processed or published data is known as:

ASample dataBPrimary dataCSecondary dataDNone of these

Q162Fundamentals of Accounting

Rent receivable until 30 June 2013 Rs.8400 p.a. from 1 July 2013 Rs.12000 p.a. Rent paid quarterly in advance on 1 Jan Apr Jul Oct. Year end 30 Nov 2013. Rent income and SOFP?

AIncome Rs.9900 Liabilities Rs.2000BIncome Rs.9900 Liabilities Rs.1000CIncome Rs.10200 Liabilities Rs.1000DIncome Rs.9900 Assets Rs.2000

Q163Business Economics & Commercial Knowledge vol.2

The Phillips curve suggests that it may be possible to increase total tax revenue by reducing tax rates.

ATrueBFalseCD

Q164Business & Commercial Knowledge

Build Right Construction won a large government contract. The project requires coordination between architects, engineers, and construction teams. Each team has its own manager, but overall project supervision is needed. Which TWO structures are most suitable?

AFunctional StructureBMatrix StructureCProject OrganizationDVirtual Organization

Q165Quantitative Aptitude & Business Economics

First and last term of a 3-term AP are equal in magnitude but opposite in sign. Value of middle term:

A1B0C−1DCannot be determined

Q166Fundamentals of Accounting

Bank statement balance of Raja Brothers as at May 31, 2022 was 23,808 overdrawn. While reconciling the balances of cash book with bank statement, following matters were highlighted: 1. Cheques of Rs. 17,253 not yet presented for payment. 2. Online transfer (direct credit) of Rs. 33,152 was shown on bank statement only. 3. Payment of Rs. 2,200 was recorded as receipt in cash book. 4. Bank charges of Rs. 700 were recorded twice in cash book. 5. Deposit of Rs. 11,526 were not credited in bank statement. How much amount should be recognized in statement of financial position as at May 31, 2022?

ARs. 58,987 Dr.BRs. 58,987 Cr.CRs. 29,535 Dr.DRs. 29,535 Cr.

Q167Business & Commercial Knowledge

Human resource plan is an integral part of

ATactical planBOperational planCStrategic planDNone of the above

Q168Fundamentals of Accounting

Which shall not be shown in receivables ledger account?

ACredit salesBCheques collected from customersCCash sales returnsDCash sales

Q169Business Economics & Commercial Knowledge vol.2

Unemployment which arises due to increase in wage rate is called:

AStructural unemploymentBDemand Deficient UnemploymentCReal Wage UnemploymentDFrictional Unemployment

Q170Business & Commercial Knowledge

XYZ Organisation has decided to install a hand-made carpet factory in an underdeveloped locality. They plan to hire underage students as workers paying them below minimum wage. They believe it is their social responsibility to help poor students and their families. TRUE or FALSE?:

ATRUEBFALSECD

Q171Business & Commercial Knowledge

The Selling Concept assumes:

ACustomers will buy enough products without persuasionBCustomers need motivation to buy through selling and promotionCMarketing is unnecessaryDProducts sell themselves

Q172Business Economics & Commercial Knowledge vol.2

Which of the following best describes the law of diminishing returns? As more labour is added to a fixed amount of capital:

ATotal output will declineBIncrease in total output will become smaller for each additional unit of labour employedCMarginal product will riseDProduction costs will rise because higher wages will have to be paid to attract more labour

Q173Business & Commercial Knowledge

Which of the following long-term debt instruments involving two parties- the borrower (issuer) and the lender (buyer or investor).

ALoanBStocksCLeaseDBonds

Q174Business Economics & Commercial Knowledge vol.2

Which of the following would an economist classify as capital?

AA Rs.50 thousands bill payableBA corporate bondCA post office employeeDA guitar used by a musician

Q175Quantitative Aptitude & Business Economics

2000 bulbs, mean life=820hrs, SD=90hrs, normal. How many fail before 1000 hours?

A1900B820C1000D1945

Advertisement

Q176Quantitative Aptitude & Business Economics

From a deck of 52 cards, two cards are drawn in succession. The probability that both cards are spades is:

A0.0588B0.0625C0.25DNone of these

Q177Business & Commercial Knowledge

Usually the ____________ receives a larger share of the profits after the limited partners have received their initial investment back:

ALimited partnerBGeneral partnerCSpecific partnerDStandard partner

Q178Quantitative Aptitude & Business Economics

x/p + y/q = 2 and x + y = p + q are satisfied by:

Ax=p, y=qBx=q, y=pCx=1, y=1DNone of these

Q179Fundamentals of Accounting

Machine purchased 1 Oct 2020 Rs. 200k, residual 40k. WDV at 31 Dec 2022 Rs. 128k. Remaining useful life at 31 Dec 2022 using SLM?

A2.25 yearsB2.75 yearsC4 yearsD5 years

Q180Fundamentals of Accounting

In which TWO circumstances might a perpetual inventory system be more suitable?

ALarge size itemsBHigh value itemsCLow value itemsDWhere inventory movements are frequent

Q181Fundamentals of Accounting

Which best describes the purpose of sales invoice?

AIssued to customer as request for payment on due dateBIssued as request to receive stockCIssued as details of transactions during specific monthDIssued to customer as notification of payment

Q182Business & Commercial Knowledge

Networking of different computers within an organization is also known as:

AIntranetBExtranetCFreenetDClosed net

Q183Quantitative Aptitude & Business Economics

For y = 2x² + 3x + 4, find value of y when x = −5:

A39B49C59D29

Q184Business Economics & Commercial Knowledge vol.2

All of the following would tend to result in a reduction of the rate of growth in the broad money supply EXCEPT

Aan increase in the rate of interest offered on National SavingsBa reduction in the Public Sector Borrowing Requirement (PSBR)Cthe sale of long-term bonds by the government to the banking sectorDthe sale of treasury bills to the discount houses

Q185Quantitative Aptitude & Business Economics

A company borrows Rs.10,000 at 5% p.a. CI and repays in Rs.1,000 annual installments. Years to clear debt is:

A14.2 yearsB10 yearsC12 yearsD11 years

Q186Business & Commercial Knowledge

Which of the following are the typical product life cycle phases?:

AIntroduction, Growth, Peak, DeclineBIntroduction, Growth, Maturity, DeclineCIntroduction, Expansion, Maturity, DeclineDProduct, Price, Promotion, Place

Q187Business Economics & Commercial Knowledge vol.2

In a planned economy, the pattern of production is determined by:

ACentral allocationBConsumer preferenceCThe price mechanismDThe private sector

Q188Fundamentals of Accounting

Shazim Enterprise: 1 Mar opening 400 @ Rs. 100 = 40k. 8 Mar purchased 100 @ Rs. 150 = 15k. 24 Mar purchased 300 @ Rs. 200 = 60k. No sales. Cost per unit on 31 March using weighted average (perpetual)?

ARs. 110 per unitBRs. 143.75 per unitCRs. 150 per unitDRs. 187.5 per unit

Q189Quantitative Aptitude & Business Economics

The 7th term of the series 6, 12, 24 is:

A384B834C438DNone of these

Q190Business Economics & Commercial Knowledge vol.2

A record of all transactions that occur during a year between the residents of a country and overseas residents is known as:

ABalance of tradeBTerms of tradeCExchange rateDBalance of payment

Q191Business & Commercial Knowledge

Which of the following is NOT a marketing activity?

ABuyingBTransportingCAuditingDStoring

Q192Business & Commercial Knowledge

A small coffee house in city is operated by Saad. He manages all operations and ensures customers are served with satisfaction. As he is a sole proprietor, he is working in the capacity of:

ABusiness ownerBBusiness managerCBusiness employeeDAll of the above

Q193Quantitative Aptitude & Business Economics

A man pays Rs.4,500 per month for 30 months on a car loan at 18% per annum charged monthly. Present value of the car is:

ARs.108,271.27BRs.108,171.27CRs.108,671.27DRs.108,071.27

Q194Fundamentals of Accounting

Bank reconciliation shows: Overdraft per bank Rs. 6,980, Less: Outstanding cheques Rs. 10,460 = Rs. 3,480, Add: Deposits credited after date Rs. 11,800 = Cash at bank Rs. 15,280. What is correct cash book balance?

ARs. 15,280 balance at bank as statedBRs. 5,640 balance at bankCRs. 15,280 overdrawnDRs. 5,640 overdrawn

Q195Business & Commercial Knowledge

Supplies in industrial products refer to:

ALong-term machineryBIndirect consumables like paper, oil, and greaseCFinished goodsDSpecialty services

Q196Business & Commercial Knowledge

Which one of the following is not a classification of a product?

AGoodsBServiceCIdeaDRelevance

Q197Fundamentals of Accounting

In which book of prime entry the transaction of cheque dishonoured is recorded?

ASales day bookBPetty cash bookCCash bookDGeneral journal

Q198Fundamentals 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

Q199Fundamentals of Accounting

Cash book Rs. 25,000 Dr. Outstanding cheques Rs. 1,500, Uncleared lodgements Rs. 1,300, Standing order Rs. 200 (not in CB), Dividend Rs. 25 (not in CB). Balance per bank statement?

ARs. 25,025 NormalBRs. 25,025 OverdraftCRs. 24,825 NormalDRs. 24,825 Overdraft

Q200Fundamentals of Accounting

Goods with list price Rs.80000 sold with 2% trade discount and 3% of list price further discount if paid within 15 days. It is reasonably expected customer will pay within 15 days. At which amount sales should be recognised on 20th July?

ARs. 80000BRs. 78400CRs. 76048DRs. 76000

Advertisement

Q201Quantitative Aptitude & Business Economics

Hamza invested Rs. 120,000 on 1st January 2015, Rs. 150,000 on 1st January 2016 and Rs. 200,000 on 1st January 2017. These investments were kept to grow till 31st December 2019 and entire accumulated amount was withdrawn together. If interest rate is 10% per annum compounded annually, compute the total amount that was withdrawn on 31st December 2019.

ARs. 479,076BRs. 579,076CRs. 679,076DRs. 779,076

Q202Business & Commercial Knowledge

Tolerating unethical actions is:

AEthicalBUnethicalCRequiredDProfessional

Q203Business & Commercial Knowledge

Mamona is sales representative in H company. She is engaged in an argument with finance manager in a recent meeting. The argument could be about:

AThe company's Production policies as it will affect her ability to make salesBThe company's quality control policies as it will affect her ability to make salesCThe company's credit and collection policies as it will affect her ability to make salesDThe company's Marketing policies as it will affect her ability to make sales

Q204Business & Commercial Knowledge

TRUE or FALSE: The size and complexity of the entity influence the extent to which decision-making, planning, and control are centralized or decentralized.

ATRUEBFALSECD

Q205Business Economics & Commercial Knowledge vol.2

According to Rostow, which one in hierarchy of stages in growth: i. Pre-take of stage ii. Drive to maturity iii. Age of mass consumption iv. Take of stage

AI, II, III, IVBIV, II, III, ICI, IV, II, IIIDII, I, III, IV