MCOM Entrance Question

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COMMERCE
Common Entrance Examination for Admission to P.G. Courses under C.S.S. 2009
Time: 2 Hours
Max. Marks: 100
Instruction Questions under all Parts are to be answered in the booklet itself.
To be filled in by the candidate Register Number
In figures In words
PART A Answer all the questions. Each question carries one mark. 1. The system of recording transactions based on dual aspect concept is called a) Double accounting system b) Single accounting system c) Double entry system d) Dual accounting system 2. Cash book is a a) Ledger c) Subsidiary journal and ledger b) Subsidiary journal d) Journal proper
3. When money is withdrawn from the bank, the bank debits the account of a) The bank account c) The cash account b) The customer account d) None of these
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4. Trial Balance is the list of a) Books c) Ledger account balances b) Accounts d) Assets and Liabilities
5. A bill of exchange payable after certain period is known as a) Time bill c) Foreign bill 6. Prepaid insurance is shown as a) An income c) An expense b) An asset d) None of these b) Inland bill d) Credit bill
7. The accounting concept which separates the business from its proprietor a) Business entity concept c) Dual aspect 8. Parties to a joint venture are called a) Partners c) Consignees b) Conventurers d) Consignors b) Realization concept d) Going concern
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a) Income and expenditure accounts b) Trading and Profit and Loss account c) Profit and Loss account d) Receipts and Payments account 10. Purchases book records a) All types of purchases c) Cash purchases only b) Credit purchases only d) Both cash and credit purchases
11. Name the person who defined the statistics as the estimates and probabilities. a) Bovly c) Croxton 12. Characteristic of 670 a) 3 c) 4 b) 2 d) 0 b) Marshall d) Boddington
13. Skewness can be measured in absolute terms by taking the difference between a) Standard deviation mean c) Mode mean b) Median standard deviation d) Mean mode
14. How many numbers greater than 1000 but not greater than 4000 can be formed with the digits 0, 1, 3, 4 repetition of digits being allowed ? a) 350 c) 1024 b) 54 d) 2430
15. Where the Universe is classified on the basis of more than one attribute, it is called a) Two-fold classification c) Manifold classification b) Quantitative classification d) None of these
2706 16. The stages of Product life cycle are a) 2 c) 6 17. Lobbying is a method of a) Public relations c) Dealer marketing programme 18. Promotion mix consists of a) Advertising c) Publicity
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b) 4 d) 5
b) Personal selling program d) Direct marketing
b) Sales promotion d) All of these
19. Penetration price strategy is advocated during a) Introduction c) Maturity 20. Celebrity advertising means a) Advertising in selective markets b) Advertising in foreign markets c) Advertising during festivals d) Advertising in the name of popular people 21. One of the most important tools in cost planning a) Direct costing c) Cost sheet b) Budget d) Marginal costing b) Growth d) Decline
22. Electricity generating concern should employ a) Operation costing c) Operating costing b) Process costing d) Unit costing
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23. Which of the following is a service department in a manufacturing concern ? a) Machining department c) Finishing department b) Refining department d) Receiving department
24. When the fixed cost is Rs. 50,000 and P/v ratio is 25%, the BEP will be a) Rs. 12,500 c) Rs. 1,00,000 b) Rs. 50,000 d) Rs. 2,00,000
25. The main purpose of standard cost may be a) Standardization of departments b) Simplification of operations c) Controlling and reducing cost d) Setting cost of manufacture 26. Functions of SEBI a) Regulating business in stock exchanges b) Regulating the working of stock exchanges c) Prohibiting fraudulent and unfair trade practices d) All of these 27. Primary market is concerned with a) Short term sources of funds c) Day-to day sources of funds b) Long term sources of funds d) None of these
28. One of the oldest stock exchanges in India a) Calcutta stock exchange c) Bombay stock exchange b) Hyderabad stock exchange d) Chennai stock exchange
29. Bombay stock exchange is also known as a) Bills range c) Lyons range b) NASDAQ d) Dalal street
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30. Financial derivatives are mainly used for a) Speculative purposes c) Hedging risks 31. Characteristics of an Entrepreneur a) Creativity and Innovation b) Resource gathering and funding of organisation c) Undertaking risk and uncertainty d) All of these 32. The District Industries Programme is launched in a) 1978 c) 1947 b) 1980 d) 1952 b) Creating more risk d) Earning income
33. The creator of Innovative Entrepreneur a) F. W. Taylor c) Schumpeter b) Galbrieth d) P. F. Drucker
34. The basic objective of Entrepreneurial Development Program a) To develop entrepreneurial qualities b) To formulate and select a project c) To acquire the basic skills of management d) All of these 35. The institutions fostering entrepreneurial development in India a) SIDO c) SIDBI b) SIET d) All of these
36. The National Institute for Entrepreneurship and Small Business Development (NIESBUD) is located at a) Chennai c) New Delhi b) Bangalore d) Calcutta
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37. Small Industries Service Institute (SISI) is located at a) Cochin c) Trichur b) Thiruvananthapuram d) Kollam
38. Decline of Khadi and Village Industries was due to a) Heavy taxation c) Industrial revolution 39. NABARD is concerned with a) Refinance c) Housing loans b) Crop loans d) Short term loans b) Severe drought d) Export of raw materials
40. Seasonal un-employment mainly refers to a) Agriculture c) Public sector b) Private sector d) Cooperative sector
41. An agreement not enforceable by law is said to be a) Void c) Voidable b) Valid d) Illegal
42. The sale of goods Act came into force in a) 1972 c) 1932 b) 1930 d) 1947
43. The management of a company is vested in the hands of a) Directors c) Creditors b) Board of Directors d) Debtors
44. The Consumer Protection Act came into force in a) 1952 c) 1991 b) 1980 d) 1872
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45. Under, General Insurance, Insurance policies are generally issued for a) Six months c) 5 years b) One year d) For any number of years
46. Auditing to express an opinion on the financial statements is a) Object of audit c) Character of audit 47. Audit note book is maintained by a) Clerk of the client c) Auditor b) Audit clerk d) Accountant b) Principle of audit d) None of these
48. The internal Auditor can be removed by a) The management c) The statutory auditor 49. Audit is compulsory in case of a) Charitable trusts c) Banking companies b) Joint stock companies d) All of these b) The shareholders d) The Government
50. An auditor of a company is appointed for a period of a) 1 year c) 3 years b) 2 years d) 5 years
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ANSWER SHEET PART A

Question number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Question number 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
Answer
Answer
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PART B Answer any ten of the following. Each question carries 5 marks. Each answer shall not exceed five sentences. 1. What are Accounting Standards ? 2. What do you mean by going concern concept ? 3. Distinguish between consignment and Joint venture. 4. What is conversion method ? 5. What are non-profit seeking concerns ? 6. What is lead bank scheme ? 7. Write a note on Banking Ombudsman scheme. 8. What are the functions of RBI ? 9. Distinguish money market and capital market. 10. What are the features of options ? 11. Differentiate vouching and verification. 12. What is product mix ? 13. What are the functions of wholesaler ? 14. Define Entrepreneur. 15. What are the social responsibilities of business ?
P.T.O.

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2706

Max. Marks: 100

2706 9. Non trading institutions prepare

b) Personal selling program d) Direct marketing

b) Sales promotion d) All of these

33. The creator of Innovative Entrepreneur a) F. W. Taylor c) Schumpeter b) Galbrieth d) P. F. Drucker

ANSWER SHEET PART A

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