ACCOUNTS

1)P endorsed a bill accepted by Q to R,in settlement of his debt of 35000,and got a discount of 2%,and paid Rs.5000 immediately.What is the amount of the bill? a)30000 b)29300 c)29700 d)35000 2)Which of the following accounts will be debited when debentures are issued at 10% discount,redeemable at 15% premium? a)Loss on issue of debentures a/c b)debentures a/c c)debenture premium a/c d)premium on redemption of debentures a/c 3)Which of the given accounting concepts must be followed to ensure comparability of books of accounts over a period of time? a)disclosure b)cost c)consistency d)materiality 4)original cost of machine=15 lacs.salvage value=2lacs.depreciation for 1st year using WDV method(rate=10% pa) isa)150000 b)130000 c)20000 d)170000 5)furniture costing 18000 was damaged by fire.depreciation till the date was 2700.insurance co. admitted claim of 12000.what amount is debited to loss by fire a/c? a)18000 b)15300 c)3300 d)6000 6)loss on issue of debentures is treated asa)current liability b)current asset c)miscellaneous expenditure c)provision 7)A sold goods to B costing 50000 at 10% margin on cost.B sold the same to C at 20% margin on sales.Value of sales to C isa)68750 b)50000 c)66000 d)62500 8)an air-conditioner seller buys 2 air-conditioners and installs them in his showroom.this is what type of expense?

a)capital expenditure b)revenue expenditure c)deferred revenue expenditure d)not an expenditure 9)A dealer in furnitures sold some chairs to sunil on cash basis.account to be debited and credited respectively area)cash,fixed asset b)cash,furniture c)cash,sales d)cash,sunil 10)cost of second-hand machine=2lacs.wages for installation=2000.repairs=3000.fire insurance premium=2000.total cost debited to machine a/c will bea)200000 b)202000 c)205000 d)207000 11)cost of machine=50000.extimated production life=8000 units.production during the year=2500 units.depreciation for the year= a)400 b)15625 c)5000 d)16000 12)the right to forfeit shares lies in the hands of a)Promoters of the company b)Directors,as per the articles of association c)Shareholders d)Registrar of firms

LAW
1)a bookseller sells a book for cash.its an example ofa)unilateral contract b)bilateral contract c)executed contract d)executory contract 2)mistake by both parties as to essential fact about a contract makes contract a)void-ab-initio b)void c)voidable d)illegal 3)transfer of property is crucial to determine legal rights and liabilities of a)buyers b)sellers c)buyers and sellers d)third parties

4)legal obligation is an duty created by a)law b)society c)promisor d)promise 5)A supplies gold to a goldsmith and asks him to make the finest piece of jewellery from it.it is an example of a)contract of sale b)agreement to sell c)contract for labour d)hire-purchase 6)this condition is essential to create contractual obligations between parties concerneda)agreeing upon same thing in same sense b)giving counter offers c)stipulating each others considerations d)giving cross offers 7)A mango farmer agrees to sell all mangoes that will grow on his farm the next year.this is example of sale in ______ goods a)ascertained b)unascertained c)future d)contingent 8)a match-fixing contract between a cricketer and a bookie isa)void b)voidable c)illegal d)unenforceable 9)a coolie picks up Mr.Zs luggage on the platform without asking him.Z doesnt make any effort to stop him from doing so.If the coolie asks for his fee after carrying the luggage,Mr.Z isa)bound to pay him b)not bound to pay him c)free to pay him d)none of the above 10)A student is forced by his Guruji to sell him his bike for a very low price.the student can avoid this contract on grounds ofa)coercion b)undue influence c)fraud d)misrepresentation 11)Mr.A sues Mr.B on grounds of deceit.to support his case,hell need to prove Mr.Bs____

a)coercion b)fraud c)undue influence d)mistake 12)A sells 500 kilos of apples to B.A believes them to be of the finest quality,but they turn out to be inferior quality ones.Its clearly a case ofa)fraud b)deceit c)misrepresentation d)mistake 13)reserve price is used in relation to? a)agreement to sell b)contract for work-labour c)auction sale d)hire-purchase agreement 14)A sold a golden ring to B on sale or return basis to B.B sold it on same terms to C.C lost it.Loss shall be borne bya)A,the real owner b)B and C c)C d)A,B and C equally

ECONOMICS
1)privatization meansa)encouraging private industries b)transferring public equity to private hands c)both a and b d)none of these 2)population density of india in 2001 was a)322 b)323 c)324 d)325 3)total utility of a commodity is 5.marginal utility is 1.consumer buys 3 units.whats the consumer surplus? a)2 b)2.5 c)3 d)4 4)current account balance does not include thisa)balance of trade b)balance of services c)unrequited transfers d)private direct investments

5)dual pricing exists in? a)free-market economy b)mixed economy c)socialist economy d)all of the above 6)feature/s of mixed economy is/area)planned economy b)dual pricing c)balanced regional development d)all of these 7)million wells scheme and IRDP were merged in 1999 and came to be known asa)food for work programme b)swaranjayanti gram swarozgar yojana c)sampoorna grameen rozgar yojana d)indira awaas yojana 8)equilibrium condition for discriminating monopoly is a)AC=AR b)MR(1)=MR(2) c)MR(a)=MR(b)=MC d)TR=TC 9)the sweat,toil and labour of entrepreneur to run his enterprise is an example of? a)social cost b)implicit cost c)explicit cost d)fixed cost 10)cost of resources for a business is a ____ cost. a)implicit b)explicit c)fixed d)opportunity 11)Indian railways position is ____ in the world. a)largest b)smallest c)second smallest d)second largest 12)_____ is soft lending arm of world bank. a)IDA b)IDC c)IDF d)IDBI 13)MU is zero,when-

a)TU is maximum b)TU is zero c)TU is negative d)TU is 100 13)Indifference curve was developed by a)Hicks and Allen b)Marshall c)Sweezy d)Douglas 14)Envelop curve refers to a)Shortrun average cost curve b)Shortrun marginal cost curve c)Longrun marginal cost curve d)Longrun average cost curve 15)AR curve is also known as a)demand curve b)profit curve c)average cost curve d)indifference curve 16)The phase of retrogression and deceleration was during? a)1965-1980 b)1950-1965 c)1980-1995 d)1995-2010

Q.A.
1)Partition values are obtained froma)Histograms b)Pie charts c)Ogives d)Frequency polygons 2)An employer has 48 employees coded 1-48.He wishes to take a sample of 6 using systematic sampling.what is his sample size? a)6 b)8 c)10 d)7 3)Variance and mean of a normal distribution whose probability density function is p(X=x)=-(x-4)2/ sigma.pi a)4,1/2 b)4,1/root of 2 c)2,1/2 d)2,1/root of 2 [ANSWER WAS A)4,1/2 BUT AM UNABLE TO WORD THE QUESTION PROPERLY] 4)lim(x tends to infinity) 2+8+18+2n(square)/n(cube)

a)1/3 b)2/3 c)4/3 d)1 5)1(integral)0 dx/[ax+b(1-x)]2= a)a/b b)b/a c)ab d)1/ab 6)uncorrelated lines of regression are a)coincident b)parallel c)perpendicular d)inclined at 45degrees 7)log xy=100 and log2x=10.y= a)210 b)2100 c)21000 d)210000 8)The point formed by intersection of lines 4x-3y-1=0 and 2x+3y=5 lies on line which is parallel to line 5x+4y-15=0.Equation of the line is a) 5x+4y-10=0 b) 5x+4y-25=0 c) 5x+4y-9=0 d) 5x+4y-6=0 9)Four items are 12,35,21,22.Difference of angles formed by largest and smallest items on a pie chart is a)92o b)56o c)140o d)48o 10)t-distribution is used when sample size is a)large b)moderate c)small d)any of the above