1.

Which one of the following Ind ASis related to I heEffects of Changes in

Rates"? Foreign Exchange
(N)nd AS 19 (B) Ind AS 115
(C) Ind AS 103
2.
(DY Ind AS 21
Which ofthe following is not an accounting
(A) Convention of Full Disclosure convention?
(B) Convention of Conservatisn
(C Convention ofAccrual Accounting (D) Convention of Consistency
3. When bad debt is recovered, it is credited to :
(A) Income account
(B) Cash account
(C) Bad debt account (D) Bad debt recovered account
4.
Which one of the following items is not an
(A) Interest on capital appropriation out of profits?
(B) Salary to apartner
(C) Commission to apartner
5.
(D Interest on partner's loan
IASB was established in the year
(A) 1999 (B) 1977
(C) 1972
(D 2001
6. Halo Effect is related with
A selection (B) performance appraisal
(C) wage & salary adiministration (D) transfer
7. The use of price points for reference to different levels of quality for a company's related
products is typical of which product-mix pricing strategy?
(A) Optional-product pricing (B) Captive-product pricing
(C) By-product pricing D) Product line pricing
8. Match list-I with List-II
List - I List - II
Ind AS - 16 Income Tax
b. Ind AS-38 II. Leasing
C. Ind AS - 17 III. Intangible assets
d. Ind AS -12 IV. Property, plant and equipment
(A) a.-IV, b.-III, c.-I, d.-II (B) a.-IV, b.-III, c.-II, d.-I
(C) a.-III, b.-II, c.-IV, d.-I (D) a.-V, b.-II, c.-I, d.-III
9. Iftheobservations of avariable X are, 4, -20,-30, -44 and-36, then the value of the
range willbe:
(A. 40 (B) -48
(C) - 40 (D) 48

Commerce (Code:05) 2 Contd.

10. When looking at consumer
income, marketers are most interested in:
(AY Discretionary income
(B) Deferred income
(C) Inflationary income Annual income
(D)
11. Atest interprets problems or
(A) Interest tests
situations for employees
are.
(B) Projective tests
(C) Preference tests
(D) Simulation tests
12. When an income is
received in advance the treatment in the Profit and Loss account and
balance sheet, respectively, will be:
(A) Added to the respective income on the credit side: shown on the asset side
(B) Deducted from the respective income on the credit side;
shown on the asset side
(C) Added to the respective income on the credit side; shown on the
liability side
(D) Deducted from the respective income on the credit side; shown on the
liabilities side
13. When producers,wholesalers, and retailers act as
aunified system, they comprise a
(A) Conventional marketing system (B) Power-based marketing system
(C) Horizontal marketing system (Dy Vertical marketing system
14. Ifthe rate of Gross profit on sales is 30% and the cost of goods sold is
Rs. 70,000, what is
the amount of sales?
A Rs. 1,00,000 (B) Rs. 21,000
(C) Rs. 49,000 D) Rs. 2,33,333"
15. Which of the following represents the correct sequence of tasks for
building a brand(from
left to right)?
(A) Developing marketing programs, Leverage of secondary associations, Choosing brand
elements
B) Choosing brand elements, Developing marketing programs, Leverage of
associations
secondary
(C) Choosing brand elements, Leverage of secondary associations, Developing marketing
prograns
(D) Leverage of secondary associations, choosing brand elements, Developing marketing
programs.
16. On 28th March, 2019 stock Rs. 10,000was lost by fire. The insurance
company admitted
fullcBaim. On 31 March, 2019 while preparing Final Accounts, it will be shown:
(A). Only in Trading Account
(B) Only in Profit and Loss Account
(C) Both in Trading and Profit and Loss Account
(D) Both in Trading Account and Balance Sheet

Commerce (Code: 05) 3

P.T.O.
 17.
Which management theorist is responsible for themotivation-hygiene theory?
(A) Abraham Maslow (B) Frederick Herzberg
(C) Dale Hawthorne (D) Peter Drucker
18. Revenue from sale ofproducts ordinarily is reported as apart of the earning in the period
when:
(A) The cash is collected (B) The planning takes place
(C)"The sale is made (D) The products are manufactured
19. Which ofthe following is not aprinciple of management given by Taylor?
(A) Science, not rule of the Thumb (B) Functional foremanship
(C) Maximum not restricted output (D) Harmony not discord
20.
Which ofthe following formula is corect to calculate provision on debtors to be transferred
to Proft and Loss Account?
(A) Bad Debts + New Provision + Old Provision
B Provision on Debtors +New Provision +Bad Debts -Further Bad Debts
(C* Bad Debts +Further Bad Debts + NewProvision-Old Provision
(D) New Provision on Debtors + Old Provision made for Bad Debts
21.) The term Meta marketing was first used by
(A Eugene. J. Kelly (B) N. H. Borden
(C) Wendell (D) Philip Kotler
22. Motives are those which determine where or from whom products are purchased.
(A) Product (B) Patronage
(C) Emotional (D)- Rational
23. A company's break-even point is 6,000 units per annum. The selling price is Rs. 90per unit
and the variable cost is Rs. 40 per unit. What are the company's annual fixed costs?
(A) Rs. 120 (B) Rs. 2,40,000
(C) Rs. 3,00,000 (D) Rs. 5,40,000
24. The GSTCouncilcan take a decision only ifthere is?
(A) Three-fourth majority (B) Two-third majority.
(C) 60% majority (D) Simple majority
25. Which ofthe following Sections of companies Act 2013 deals with qualification of the auditor?
(A) Section 141(1) and Section 141(2) (B) Section 224(1) and Section 224(2)
(C) Section 226(3) and Section 226(4) (D) Section 224(3) and Section 224(4)
26. Which of thefollowing Auditing Assurance Standard deals withAudit planning?
(A) AAS-7 B) AAS-8
(D) AAS-3
(C) AAS-9
4 Contd.
Commerce (Code: 05)
27. Marketing means serving a small market not Served by competitions.
AA): Niche (B) Mega
(C) Meta (D) Social
28. Theory is an important operations research technique to analyze the queuing
behaviour.
(A) Net work (B). Waitingline
(C) Decision (D) Simulation
29. The cost of retained earnings is equal to:
(A) the return on new common stock
(B) the return on preferred stock
(C) the expected return on existing common stock
(D) It does not have a cost
30. Operating leverage may be defined as:
(A) the degree to which debt is used in financing the firm
(B) the diference between price and variable costs
(C the extent to which capital assets and fixed costs are utilized
(D) the difference between fixed costs and the contribution margin
31. From Dec. 1,2022 which bodyhandles all complaints related to Proiteering under Goods
and Services Tax (GST)?
(A) National Anti-Profiteering Authority (NAA) (B) NITIAayog
(CY Competition Commission of India (CCI) (D) GST Council
32. Profitability ratios measure:
(A) the speed at which the firm is turning over its assets
B) the ability of the firm to earn an adequate return on sales, total assets, and invested
capital
(C) the fim's ability to pay off short tem obligations as they are due
(D) the debt position of thefim in light of its assets and earning power
33. Calculate fixed cost from the details given: sales- Rs. 4,80,000, Direct materials - Rs.
,6o,00
I,60,000, Direct labour- Rs. 1,00,000,Variable OH-Rs. 40,000&Profit-Rs. 1,00,000. 40, W
(A) Rs. 3,00,000 (B) Rs. 3,80,000 3,, m

(C) Rs. 1,80,000 (D), Rs. 80,000

34. Which of the following is not apreferential creditor:
(A) All sum due to employee from a provident fund, pension fund, gratuity fund or any
other fund maintain for welfare of employee.
(B) Compensation under workmen's compensation act.
(C) Amount due under employee's state insurance act for 12 months previous to the winding up.
(D) Amount due to employee under amalgamation or reconstruction.

Commerce (Code : 05) 5 P.T.O.

 35. Payment of GratuityAct came into force in
(A) 1973 (B) 1980
(C) 1991 (D) 1972
36. What are the taxes levied on an intra-State supply?
(A) CGST (B) SGST
(C).CGST and SGST (D) IGST
37, Ifamalgamation is in the ,theGeneral Reserve or Profit and Loss A/cbalance
willnot be shown in the balance sheet.
(A) Form ofMerger B) Form ofpurchase
(C) Net assets method (D) Consideration method
38. Under the payback period :
(A) we compute the time required to recoup the original
investment
(B) there is no consideration ofinflows after the cutoff period
(C) the time value ofmoney is ignored
(D) (a), (b)and (c) are correct
decisions be handled by
39. Which management concept suggests that low-importance
subordinates, so that managers can focus on high-importance decisions?
(A) management by objective (B) management by exception
(C) participatory management (D) inclusionary management
40. Who is the person was well known for the "Hawthorne
Studies"?
(A) Elton Mayo (B) Max-Weber
(C) Chester Barnard (D) Mary Parker Follet
41. For amalgamation in the nature of merger, the shareholders holding at
least or more

shareholders of thetransferee
of theequity shares ofthetransferor company becomes the equity
company.
(A) S1% B} 90%
(C) 99% (D) 100%
42. Amount of securitypremium may be utilized for:
(A) Payment of dividend (B) Writing offpreliminary expenses
(C) Meeting routine expenses (D) Purchases offixed asset
43. the purpose ofemployment, he must stay in India in
Acitizen ofIndia who goes abroad for days to become a resident.
the previous year for at least
(A) 90days (B) 162 days
(C) 180 days D) 182 days
44. The decision-making model consists of four styles: directive, analytic,
behavioural and
(A) Conceptual (B) Intuitive
(C) Group interaction (D) Laggard
45. Director's remuneration shallnot exceed %of the net profits.
A) 10% (B) 5%
(C) 159% (D) 2%

Commerce (Code :05) Contd.

46. Underthe Du Pont method of analysis, return on total assets is:
(A) profit margin times assets turnover
(B) net profit available to Equity shareholders/total assets
(C) income before interest and taxes (EBIT/total assets
(D) net income/sales
47. when errors are rectified in the books of accounts. in
which subsidiary book it is recorded :
(A) Journal proper (B) Accounts Receivable book
(C) Cash Book (D) Purchase book
A8. Which subsidiary book is journal as wellas ledger:
(A) Purchase book (B) Sales book
(C) Bills Receivable book (D)- Cash book
49.
Mr. Ramesh, a citizen ofIndia, is employed in the Indian embassy in Australia. He is a non
resident for A. Y. 2023-24. He received salary and allowances in Australia from the
Government of India for the year ended 31.03.2023 for services rendered by him inAustralia.
In addition, he was allowed perquisites by the Government. Which ofthe following statements
are correct?
(A)· Salary, allowances and perquisites received outside India are not taxable in the hands
ofMr. Ramesh, since he is non-resident.
(B) Salary, allowances and perquisites received outside India by Mr. Ramesh are taxable
in India since they are deemed to accrue or arise in India.
(C) Salary received by Mr. Ramesh is taxable in Inia but allowances and perquisites are
exempt.
(D) Salary received by Mr. Ramesh is exempt in India but allowances and perquisites are
taxable.
50.
of which forms
Anirudh stays in New Delhi. His basic salary is Rs. 10,000 p.m., D.A. (60% commission
entitled to a of
part of pay)is Rs. 6,000 p.m., HRA is Rs. 5,000 p.m. and he is turnover
1% on the turnover achieved by him. Anirudh pays a rent of Rs. 5,500 p.m. The under
achieved by him during the current year is Rs. 12 lakhs. The amount ofHRA exempt
section 10(13A) is -
(A} Rs. 48,480 (B) Rs. 45,600
(C) Rs.49,680 (D) Rs. 46,800
tax treatment for A.Y.
51. Mr. Raghav has three houses for self-occupation. What would be the
2023-24 in respect ofincome from house property?
self-occupied. The other
(A) One house, at the option of Mr. Raghav, would be treated as
two houses would be deemed to be let out.
(B) Two houses,at the option of Mr. Raghav, would be treated as self-occupied. The
out.
other house would be deemed to be let
would be treated as self-occupied, The
(C) One house, et the option ofAssessing Officer,
let out.
other two houses would be deemed to be
(D) Two houses, at the option of Assessing Officer, would be treated as self- occupied.
out.
let
The other house would be deemed to be

7 P.T.O.
Commerce (Code : 05)
 S2. Mr.Shiva donated Rs. 50,000 to PM Cares Fund and Rs. 20,000 to Rajiv Gandhí Foundation
by cheque. He made acash donation of Rs. 10,000 to apublic charitable trust registered under
Section 80G The deduction allowable to him under Section 80G for A. Y. 2023-24 is :
(A). Rs. 80,000 (B) Rs. 70,000
(C) Rs. 60,000 (D) Rs. 35,000
53. In which ofthe following transactions, quoting of PAN is mandatory by the person entering
into the said transaction?
Opening a Basic savings bank deposit account with a bank.
II. Applying to abank for issue of acredit card.
II. Payment of Rs. 40,000 to mutual fund for purchase of its units.
IV. Cash deposit with apost office of Rs. 1,00,000 during a day.
V. Afixed deposit ofRs. 30,000 with aNBFC registered with RBl aggregating the total
deposits to Rs. 3,50,000 for the F.Y up to the date of this deposit made.
VI. Sale of shares of an unlisted company for an amount of Rs.60,000.
Choose the correct answer:
A) II,IV (B) II, II, IV
(C) I,II, II, V, VI (D) II, IV, VI
54. Teaming and Lading is an example of:
(A) Comnpensating Errors (B} Misappropriation of cash
(C)·Errors of Duplication (D) Misappropriation of Goods
55. The board of directors shall appoint first auditor of a company
(A) within 60days of completion of capital subscription state of the company
(B) within 90 days ofincorporation of the company
(C) within 30 of the commencement of thebusiness ofthe company
(D) within 30 days ofincorporation ofthecompany
56. Avacancy caused by resignation ofan auditor is filled by
(A) board of directors (B) managing director
( general meeting (D) central government
57. When at an annualgeneral meeting of a company no auditor is appointed or reappointed. In
that case
(A) the central government appointsa person to fillthe vacancy
(B) the board of directors appoints a person to fillthe vacancy
(C) the managing director of thecompany appoints aperson to fill the vacancy
(D) no auditor is appointed till the next AGM
58. Intermal AuditingStandards are issued by the:
(A) International Accounting Standard Board
(B) Financial Accounting Standard Board
(C) International Audit&Assurance Standard Board
(D) Auditing Practices Board

Commerce (Code :05) 8

Contd.
59. Professional scepticism requires that the auditor assume that management is
(A) reasonably honest (B) neither honest nor dishonest
(C) not necessarily honest (D) dishonest unless proved otherwise
60. Ais entitled to children education allowance @Rs. 80 p.m. per child for 3children amounting
Rs.240 p.m. It will be exempt to the extent of:
(A) Rs.200 p.m. (B) Rs.160 p.m.
(C) Rs. 240 p.m. (D) Rs. 120 p.m.
61. Statement 1 : The critical path in PERT represents the shortest path in aproject network.
Statement 2: Activities on the critical path have zero slack time.
(A) Statement 1 is true, and statement 2 is true
(B) Statement 1 is true, but statement 2 is false
(CY Statement 1 is false, but statement 2 is true
(D) Statement 1is false, and statement 2 is false
62. Sequence correctly the following steps in PERT/CPM analysis :
(a) Identify the critical path
(b) Draw the network diagram
(c) Establish dependencies across activities
(d) Estimate the completion time of an activity
(e) Define the activities in the network
(A) (b), (c), (d), (e), (a) (B (e), (c), (b), (d), (a)
(C) (c), (b), (e), (a), (d) (D) (a), (b), (d), (e), (c)
63. Profit or Loss on depreciation fund investment is transferred to :
(A) Depreciation fund account (B) Profit and loss account
(C) Assets account (D) Provision for depreciation account
64. Expired cost is:
(4} Expense (B) Asset
(C) Liablity (D) Income
65. The order cost per order ofan inventory is Rs. 400with an annual carrying cost of Rs. 10per
unit. The Economic Order Quantity (EO) for an annual demand of2000 units is:
(A) 400 (B) 440
(C) 480 (D) s00
66. Ina bag, there are 8red balls, 7blue balls, and 6 green balls. One ball is picked up randomly.
What is the probability that it is neither red nor green?
2
3
(A) (B) 7
7

(C) 3

Commerce (Code:05) 9 PTO.

 67. Statement | : isher's method is bascd on exact weights.
curTent
Statement 2 : Fisher's method takes into consideration the price andquaritity of the
year and base year.
(A) Both are correct
(B) Both are incorrect
(C) Statement 1 is correct and statement 2 is incorrect
(D) Statement 1is incorrect and statement 2 is correct
68. Inmoderately skewed distribution:
(A) ArithmeticMean > Geometric Mean> Harmonic Mean
(B) Arithmetic Mean < Geometric Mean <Harmonic Mean
(C) ArithmeticMean> Harmonic Mean > Geometric Mean
(D) Geometric Mean > Harmonic Mean>Arithmetic Mean
69. Ifmode ofa grouped data is 10 and mean is 4, then median will be :
(A) 1 (B) 4 (0 3M

(C) 6 (D) 8
70.
Ifthe mode ofthe follówing data is 7, then thevalue ofk in the data set:3, 8, 6, 7, 6, 10, 6,
7, 2k +5,9,7 and 13 is :
(A) 3 (B) 7
(C) 4 D). 1
71. Arandom sample of 24 people is classified in the following table according to their ages :
Age 10-20 20-30 30-40 40-50 50-60
Frequency 4 6 4
What is the mean age of this group of people?
(A) 25 B)* 33.33
(C) 16.67 (D) 54.54
72. What is the mean offirst 99 natural numbers?
(A) s0.5 (B) 49.5
(ÇY 50 (D) 100
73. The sum of the squares of deviationsof 10 observations taken from mean 50is 250, soC.V.
in percentage is
(A 10 250
(B) 15
(C) 13 (D) 20
74. Mean deviation is the least when deviations are taken from
(A) Mode (B) Arithmetic Mean
(C) Geometric Mean (D) Median

Commerce (Code : 05) 10

Contd.
75. The interquartile range excludes ofthe values.
(A) 90% (B) 75%
(C) S0% (D) 25%
76. Adistribution with a kurtosis less than 3 is known as :
(A} Platykurtic (B) Mesokurtic
(C) Leptokurtic (D) Hyperkurtic
77. Escalation clause is inserted in the contract for the benefits of:
(A) Contractee (B) Customer
(C) Both contractor and contactee (D) Contractor
78. What is the rule for the earliest start time?

(A) Itcompares the activity's start time to that of asuccessor activity.

B Itcompares the activity's end time to that of aprevious activity.
(C) It specifies when aproject may begin.
(D) It establishes the start date for a project.
79. The minimum value ofZ=3x +5y subjected to constraints x+3y>3, x+y>2, X, y>0 is :
(A) 5 (B) 7
(C) 10 Dy 11
80. What is the formula for measuring skewness in a dataset?
(A) Mean-Median (B) Mode-Median
(© Mean - Mode (D) (Mean-Mode) / Standard Deviation
81. The realisable value of abnormal gain is debited to :
(A). Costing and profitLoss account (B) Process account
(C) Normal loss account D) Abnormal gain account
82. Xpays asum of moneyto Ybelieving him to be his creditor, while as amater of fact he was
not, he is bound to return the money to Xon the assumption that the above sum was given to
him by the way of loan. It is called as
(A) Executory Contract (B) Parole Contract
(C) Click Contract ) . QuasiContract

Commerce (Code : 05) 11 P.T.O.

 83.
Xand Ymake a contract under the impression that aparticular debt is barred by law of
limitation. The contract is:
(A) Valid due to mistake of gencral law of the
country
(B) Void due to mistake of general law of the
country
(C) Valid due to mistake offoreign law
(D) Void due to mistake of privaterights ofa relating
party to propery
84.
Aminorgirlwho lost her parents lived with her uncle who was in the position of her parents.
She executed an unconscionable gift deed in his favour. The gift deed can be
set aside on
grounds of:

(A) Mistake
(B) Coercion
(C) Misrepresentation
(D) Undue Influence
85. Mpromises to painta picture for N.N later forbids him to do so. M is no longer
bound to
perform the promise due to :
(A) Novation (B) Rescission
(C) Waiver (D) Remission
86. Which of thefollowing is not à form of delivery?
(A) Constructive delivery (B) Structured delivery
(C) Actual delivery (D). Symbolic delivery
87. Which of the following is not an implied condition in a contract of sale?
(A) Conditiòn as to quality or fitness

(B) Condition as to description

(C) Condition as to free from encumbrance

(D) Condition as to sample

Commerce (Code: 05) 12

Contd.
88. The authority of a partner to bind the firm for his acts as
Partnership Act is known as: contained in section 19 of the.

(A) Express authority

(B) Legal authority
(C) Implied authority
(D) Managerial authority
89. The Companies Act, 2013 consists of
(A), 471Sections, 27 Chapters and 9
Schedules
(B) 658Sections, 39 Chapters and 7
Schedules
(C) S68Sections, 27 Chapters and 9
Schedules
(D) 470 Sections, 29 Chapters and 7Schedules
90. The role ofNFRA as per Companies Act, 2013
is:
(A)· Toinvestigate frauds relatingto a
company
B) Tomonitor the compliance of accounting standards by a
(C) Tocontrol the administration of Companies Act
company
(D) To impose fines and penalties under various provisions of companies act
91. The application form toobtain certificate of incorporation is filed withROCin Form No.
for OPC.
(A) INC. 9 (B) INC. 7
(C) INC. 3 (D) IN(C) 2
92. Any person aggrieved by an order ofNCLT may prefer an appeal to the Appellate Tribunal
within a period of from the date on which a copy of the order of the Tribunal is
made available to the person aggrieved.
(A) 120 days (B) 60 days
(C) 45 days (D) 30 days

93. ANidhi shall not accept deposit exceeding times of its Net Owned Funds as per
its last audited financial statements.
(A) Ten times (B) Fifteen times
C) Twenty times (D) Twenty-five times
94. As per SEBI (1CDR) Regulations, 2009 in case of Initial Public Offer/P0, the minimum
Promoters' contribution should not be:
(A) less than 15% ofthe post issue capital (B) less than 20% of the post issue capital
(C) less than 25% of thepost issue capital (D) less than 30% of thepost issue capital
13
Commerce (Code :05) P.T.O.
 95.
Every listed Public Company sh¡llhave Independent
(A) 1/3 rd of the total number of Directors (B) 2/3Directors' ofat number
rd of the total least . of Directors
(C) 1/4 th of the total numberrof Director (D) 2/4 th ofthe total number of Directors
96.
Amemorandum containing such salient features of a
Securities and Exchange Board by making reoulation prospectus
as may be speieuy ae
in this behalfis known as:
(A) Red Hering Prospectus
(B) Abridged Prospectus
(C) Shelf Prospectus
97. (D) Deemed Prospectus
Where a contract could not be performed because ofthe default by a third person on
work the promisor relied, it : whose
(A) Isnot discharged (B) Is discharged
(C) Becomes void
98. A bailee has:
(D) Becomes voidable

(A) Aright of general lien over the goods

bailed
B) Aight of particularlien over goods
bailed
(C) A right of particular lien over goods till the debt ofthe bailor
becomes time barred
(D) Aright ofboth particular and general lien
over goods
99. When the contract is caused by a false statement without any
as a:
intention to deceive, it is called
(A) Valid Contract (B) Void Contract
() Voidable Contract (D) VoidAgreement
100. Which of thefollowing is not included in term "Goods" under sale
ofgoods act :
(A) Stock and shares (B) Personal use goods
(C) Bils Receivable (D) Growing crops and Grass

Commerce (Code : 05) 14

Contd.