*2706* 2706 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 When money is withdrawn from the bank, the bank debits the account of a) The bank account c) The cash account b) The customer account d) None of these P.T.O. 2706 -2- *2706* Do re He rite t W No 4. The accounting concept which separates the business from its proprietor a) Business entity concept c) Dual aspect 8. 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. A bill of exchange payable after certain period is known as a) Time bill c) Foreign bill 6. Trial Balance is the list of a) Books c) Ledger account balances b) Accounts d) Assets and Liabilities 5. Parties to a joint venture are called a) Partners c) Consignees b) Conventurers d) Consignors b) Realization concept d) Going concern . 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. Characteristic of 670 a) 3 c) 4 b) 2 d) 0 b) Marshall d) Boddington 13.*2706* 9. it is called a) Two-fold classification c) Manifold classification b) Quantitative classification d) None of these . Non trading institutions prepare -3- 2706 a) Income and expenditure accounts b) Trading and Profit and Loss account c) Profit and Loss account d) Receipts and Payments account 10. a) Bovly c) Croxton 12. 4 repetition of digits being allowed ? a) 350 c) 1024 b) 54 d) 2430 15. Name the person who defined the statistics as “the estimates and probabilities”. How many numbers greater than 1000 but not greater than 4000 can be formed with the digits 0. 1. Where the Universe is classified on the basis of more than one attribute. 3. Purchases book records a) All types of purchases c) Cash purchases only b) Credit purchases only d) Both cash and credit purchases 11. 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 .2706 16. 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. Promotion mix consists of a) Advertising c) Publicity -4- *2706* b) 4 d) 5 b) Personal selling program d) Direct marketing b) Sales promotion d) All of these 19. “Lobbying” is a method of a) Public relations c) Dealer marketing programme 18. The stages of Product life cycle are a) 2 c) 6 17. 50. When the fixed cost is Rs.000 and P/v ratio is 25%.00. One of the oldest stock exchanges in India a) Calcutta stock exchange c) Bombay stock exchange b) Hyderabad stock exchange d) Chennai stock exchange 29.000 25.000 b) Rs. 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.*2706* -5- 2706 23. 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. 50.00. 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. Bombay stock exchange is also known as a) Bills range c) Lyons range b) NASDAQ d) Dalal street . 2. Which of the following is a service department in a manufacturing concern ? a) Machining department c) Finishing department b) Refining department d) Receiving department 24.500 c) Rs. 1. 12.000 d) Rs. the BEP will be a) Rs. The creator of “Innovative Entrepreneur” a) F. Taylor c) Schumpeter b) Galbrieth d) P. 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 National Institute for Entrepreneurship and Small Business Development (NIESBUD) is located at a) Chennai c) New Delhi b) Bangalore d) Calcutta . 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 institutions fostering entrepreneurial development in India a) SIDO c) SIDBI b) SIET d) All of these 36.2706 -6- *2706* 30. Financial derivatives are mainly used for a) Speculative purposes c) Hedging risks 31. W. F. The District Industries Programme is launched in a) 1978 c) 1947 b) 1980 d) 1952 b) Creating more risk d) Earning income 33. The sale of goods Act came into force in a) 1972 c) 1932 b) 1930 d) 1947 43. Seasonal un-employment mainly refers to a) Agriculture c) Public sector b) Private sector d) Cooperative sector 41. The Consumer Protection Act came into force in a) 1952 c) 1991 b) 1980 d) 1872 . Small Industries Service Institute (SISI) is located at a) Cochin c) Trichur b) Thiruvananthapuram d) Kollam 38. The management of a company is vested in the hands of a) Directors c) Creditors b) Board of Directors d) Debtors 44. 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. Decline of Khadi and Village Industries was due to a) Heavy taxation c) Industrial revolution 39.*2706* -7- 2706 37. An agreement not enforceable by law is said to be a) Void c) Voidable b) Valid d) Illegal 42. The internal Auditor can be removed by a) The management c) The statutory auditor 49. Under. 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. 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. General Insurance. An auditor of a company is appointed for a period of a) 1 year c) 3 years b) 2 years d) 5 years —————————— . Insurance policies are generally issued for a) Six months c) 5 years b) One year d) For any number of years 46.2706 -8- *2706* 45. Auditing to express an opinion on the financial statements is a) Object of audit c) Character of audit 47. *2706* -9- 2706 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 . 4. What are the social responsibilities of business ? P. What is product mix ? 13. Distinguish money market and capital market. What are the functions of RBI ? 9. 15. Differentiate vouching and verification. Each question carries 5 marks. 8. What are the features of options ? 11. 10. Write a note on Banking Ombudsman scheme.O. What is lead bank scheme ? 7. Each answer shall not exceed five sentences. What is conversion method ? 5.T. . What are non-profit seeking concerns ? 6. 12. Define Entrepreneur.*2706* -11- 2706 COMMERCE PART – B Answer any ten of the following. Distinguish between consignment and Joint venture. What do you mean by going concern concept ? 3. What are Accounting Standards ? 2. What are the functions of wholesaler ? 14. 1.