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

Q1Business & Commercial Knowledge

Not-for-profit organizations are established to:

AMaximize profitBAchieve objectives other than profitCAvoid taxesDCompete with businesses

Q2Business Economics & Commercial Knowledge vol.2

In order to overcome liquidity trap following policies can be helpful.

AIncrease on government expenditureBRaise in inflationary expectationsCIncrease in money demandDAll of the above

Q3Business & Commercial Knowledge

A well-defined career path helps improve _____.

ATurnoverBEmployee retentionCConflictsDAbsenteeism

Q4Business & Commercial Knowledge

Bushra is finance manager in P Books corporations. Her core activities include

ARisk managementBTraining and developmentCProduction planningDNone of the above

Q5Business & Commercial Knowledge

Financial managers work closely with:

ASales department onlyBOperations department onlyCAll other functional managersDMarketing managers only

Q6Business & Commercial Knowledge

Long term bank loans obtained by corporations are always

AUnsecuredBSecuredCD

Q7Business & Commercial Knowledge

Factory operations are reported on media for spoiling the drinking water. This is due to factory's

AWeak plant controlsBLack of CSRCMaterial qualityDEmployees carelessness

Q8Business & Commercial Knowledge

Sales dept updates info through internal-access-only networks—this is:

AExtranetBInternetCWANDIntranet

Q9Business & Commercial Knowledge

Off-the-job training is preferred over on-the-job training when:

AThe organisation wants to minimise training costsBReal working conditions are essential for learningCSpecialised tools or facilities are required for trainingDEmployees must learn through direct experience on actual tasks

Q10Business & Commercial Knowledge

Product departmentalization groups by:

ACustomer typeBProduct linesCGeographyDFunctions

Q11Business & Commercial Knowledge

On-the-job training advantage is first-hand __________ under actual conditions.

AKnowledge & experienceBKnowledge & certificationCMotivation & experienceDSupport & motivation

Q12Business & Commercial Knowledge

Departmentalization provides framework for:

ACoordinationBConflictCIsolationDCompetition

Q13Business & Commercial Knowledge

Deputising for a manager in airport service…

ATrueBFalseCD

Q14Business & Commercial Knowledge

Gathering information to detect trends and consumer preferences is called:

ARisk takingBMarketing researchCSellingDGrading

Q15Business & Commercial Knowledge

MSS primary purpose:

AConvert data into useful informationBEnter complaintsCStore scanned copiesDGenerate errors

Q16Business & Commercial Knowledge

Departmental manager of each business function is responsible for the department's

AOperational plansBTactical plansCTask efficienciesDAll of the above

Q17Business & Commercial Knowledge

A common example of TPS in HR is:

APerformance appraisal designBPayroll systemCHiring policyDExecutive dashboard

Q18Business & Commercial Knowledge

Stakeholders can be:

AOnly individualsBOnly groupsCIndividuals, groups, or organizationsDOnly organizations

Q19Business & Commercial Knowledge

Information systems collect and process data into:

ARandom factsBMeaningful informationCPersonal opinionsDManual records

Q20Business & Commercial Knowledge

Data analyst at investment bank create various reports based on real time data from clients' banks and stock market trading data. This data is shared with the data analyst through:

AIntranetsBExtranetsCDatabasesDDBMS

Q21Business & Commercial Knowledge

Sole proprietorship may come to an end due to:

AFailureBInsanityCDeathDAll of the above

Q22Business & Commercial Knowledge

A university that aims to "provide quality education to all" demonstrates its:

AMissionBVisionCCore valueDObjective

Q23Business & Commercial Knowledge

ICAP's ethical standards promote:

APublic trustBDistrustCConfusionDUncertainty

Q24Business & Commercial Knowledge

S software house has gym at office. This is part of:

AWork life balanceBHealthy work environmentCMental wellbeingDAll of the above

Q25Quantitative Aptitude & Business Economics

Which of the following is NOT an inequality?

AX = 4BX ≤ 4CX ≥ 4DX < 4

Q26Fundamentals of Accounting

An unidentified credit of Rs. 209,000 appearing in the bank statement for the month of June 2021 was credited to the suspense account. It was discovered that the amount, net of settlement discount of 5%, was an online transfer by a customer. The revenue was earlier recognised at gross amount. What journal entry must be recorded to correct this error?

ADEBIT: Suspense Rs. 209,000 and CREDIT: Trade receivables Rs. 209,000BDEBIT: Trade receivable Rs. 209,000 and CREDIT: Suspense Rs. 209,000CDEBIT: Suspense Rs. 209,000 & Revenue Rs. 11,000 and CREDIT: Trade receivables Rs. 220,000DDEBIT: Suspense Rs. 11,000 & Revenue Rs. 209,000 and CREDIT: Trade receivables Rs. 220,000

Q27Business Economics & Commercial Knowledge vol.2

Elasticity of supply of durable goods is generally:

AUnitary elasticBMore elasticCInelasticDLess elastic

Q28Business Economics & Commercial Knowledge vol.2

System of note issue by central bank in which 100% gold requirement is mandatory:

AProportionate reserve systemBFixed fiduciary systemCDeficit financingDNone of the above

Q29Business Economics & Commercial Knowledge vol.2

If the price of tea falls, which one of the following outcomes would be expected?

AA fall in the demand of tea.BA rise in price of coffeeCA fall in the demand of coffeeDA fall in the demand of drinking cups

Q30Business Economics & Commercial Knowledge vol.2

Which one of the following would normally cause a rightward shift in the demand curve for a product?

AA fall in the price of a substitute productBA reduction in direct taxation on incomesCA reduction in price of the productDAn increase in the price of a complementary produce

Q31Business & Commercial Knowledge

Employees as stakeholders are concerned with:

AJob security and fair wagesBOnly profitCOnly revenueDOnly costs

Q32Fundamentals 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

Q33Business Economics & Commercial Knowledge vol.2

Which of the following are regarded as withdrawals from the circular flow of income?

ASaving and TaxationBExport and ImportCInvestment and SavingDGovernment Spending and Saving

Q34Quantitative Aptitude & Business Economics

Sami borrowed Rs.11,000 in 7 installments. First 6 in AP with d=Rs.500, 7th equals first. Compute 5th installment:

A2,500B3,000C500D1,000

Q35Business Economics & Commercial Knowledge vol.2

Total revenue for a firm with a downward sloping demand curve, will be maximised when

AMarginal cost = marginal revenueBMarginal cost = average revenueCAverage cost = average revenueDMarginal revenue is zero

Q36Business & Commercial Knowledge

CEO reviewing environmental impact of toy disposal is involved in:

AMaking overall plansBEnsuring contractsCFormulating strategyDFinancial management

Q37Business & Commercial Knowledge

Organizational structures should be flexible enough to

AAccommodate growthBEnsure new compliancesCFollow international practicesDAll of the above

Q38Fundamentals of Accounting

A machine price was Rs. 1,000,000 with truck fares Rs. 20,000 and installation charges Rs. 45,000. The cost of the machine is?

ARs. 1,000,000BRs. 1,020,000CRs. 1,045,000DRs. 1,065,000

Q39Business & Commercial Knowledge

A senior manager planning marketing for next year is performing:

AStrategyBResponsibilityCCrowdingDAuthority

Q40Quantitative Aptitude & Business Economics

Index numbers are used as the barometers of:

APricesBQuantitiesCInflationDNone of these

Q41Business Economics & Commercial Knowledge vol.2

An increase in aggregate demand when the economy is operating at full capacity is likely to result in

AAn increase in both output and the overall price level.BAn increase in output but no increase in the overall price level.CAn increase in the overall price level but no increase in output.DNo increase in either output or the overall price level.

Q42Fundamentals of Accounting

Turnover Rs.2M receivables 5% = Rs.100000. Allowance 4% of receivables makes it 1/3 higher than current. Effect on profit?

AProfit reduced by Rs.1000BProfit increased by Rs.1000CProfit reduced by Rs.1333DProfit increased by Rs.1333

Q43Quantitative Aptitude & Business Economics

Considering binomial distribution, the sum of probability of success and probability of failure is always:

A1B0C2DCannot be determined

Q44Quantitative Aptitude & Business Economics

Future value of Rs. 330,000 invested at 7% per annum compounded quarterly for three years is ____.

A406,375B306,375C506,375D366,375

Q45Quantitative Aptitude & Business Economics

Which of the following are correct? (1) Range = highest minus lowest observation (2) SD is positive square root of variance (3) Arithmetic mean of 7 and 9 is 8.5

A(1) and (2) onlyB(1) and (3) onlyC(2) and (3) onlyDAll three

Q46Business Economics & Commercial Knowledge vol.2

which one is NOT a reason for shifting of LRAS1 TO LRAS2:

AImprovement in labour skills.BImprovement in technologyCExploring new natural resourcesDIncrease in wage rate

Q47Fundamentals of Accounting

Receivables account shows: b/f 150k, Sales 600k, Payables contra 18k, Disc allowed 4k, Sales returns 3k on debit. Cash 150k, Bank 418k, Disc received 5k, Bad debts 19k, Increase allowance 15k, c/f 168k on credit. Corrected receivables?

ARs. 146,000BRs. 138,000CRs. 133,000DRs. 118,000

Q48Quantitative Aptitude & Business Economics

Which statement about the graph shape of a quadratic equation is correct?

AAlways U shapedBAlways inverted U shapedCCan be U shaped or inverted U shapedDCan never be inverted U shaped

Q49Quantitative Aptitude & Business Economics

If bxy = -1.93 and byx = 0.51, then r is equal to:

A−0.9843B−0.992CData is fictitiousDNone of these

Q50Business Economics & Commercial Knowledge vol.2

If aggregate demand is less than productive potential of an economy, then it is known as

ANegative output gapBPositive output gapCInflationary gapDNone of the above

Q51Business Economics & Commercial Knowledge vol.2

Which of the following is a microeconomics question?

AIs it sensible for a government to subsidize tobacco production?BWhy do some countries grow faster than others?CShould Congress and the president take action to reduce global warming?DShould the government attempt to influence the interest rate to lower inflation?

Q52Quantitative Aptitude & Business Economics

Total sales revenue and total cost are Rs. 500,000 and Rs. 600,000 today respectively. Rate of annual growth in costs is 10%. By how much must sales revenue grow every year to achieve break-even in the 5th year?

A12.09%B13.09%C14.09%D15.09%

Q53Business & Commercial Knowledge

Being a marketing manager, you have felt that your subordinates are overburdened with work. You have conducted interviews with all subordinates to determine whether there is a need to hire additional personnel in the department. This is an example of:

ARecruitmentBSelectionCJob designDJob analysis

Q54Quantitative Aptitude & Business Economics

In regression analysis, b = 2.8, indicates that the value of dependent variable:

AIncreases by 2.8 units at per unit increase in independent variableBDecreases by 2.8 units at per unit increase in independent variableCIncreases by 2.8 units at per unit decrease in independent variableDNone of these

Q55Quantitative Aptitude & Business Economics

Lines joining (−1,1)&(2,−2) and (1,2)&(2,k) are parallel. Find k:

A1B0C−1DNone

Q56Quantitative Aptitude & Business Economics

A sum lent at CI for 2 years at 20% p.a. would fetch Rs.482 more if interest was half-yearly instead of annually. The sum is:

ARs.10,000BRs.20,000CRs.40,000DRs.50,000

Q57Quantitative Aptitude & Business Economics

5x^2+(a+2)x+4 has coefficient of x^2 equal to coefficient of x. Find a:

A5B-3C-4D3

Q58Business Economics & Commercial Knowledge vol.2

Basic reason behind movement from M to N is:

Aa reduction in the real value of money balancesBa reduction in interest ratesCdomestic deflationDthe expectation of further price falls

Q59Business 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

Q60Business & Commercial Knowledge

Geographic segmentation considers:

AClimate, terrain, population densityBProduct pricingCBrand ownershipDAdvertising only

Q61Business & Commercial Knowledge

Investment in stock, goods and raw material is:

AFixed capitalBWorking capitalCOwner capitalDRetained capital

Q62Business Economics & Commercial Knowledge vol.2

Expectational inflation arises when governments raise interest rates and firms and households anticipate that prices will rise.

ATrueBFalseCD

Q63Business Economics & Commercial Knowledge vol.2

Macro-economics is also known as:

APrice TheoryBTheory of DistributionCTheory of Income & EmploymentDTheory of Production

Q64Business & Commercial Knowledge

Creditors are mainly concerned with:

AReceiving timely payments and ensuring the business is financially stableBObtaining high-quality products at fair pricesCNegotiating wages and employee working conditionsDSecuring long-term supply contracts and stable relationships

Q65Quantitative Aptitude & Business Economics

If sum of infinite terms of a GP is 2 and sum of their squares is 4/3, the series is:

A1, 1/2, 1/4B1, -1/2, 1/4C-1, -1/2, -1/4DNone of these

Q66Fundamentals of Accounting

Accrued expense 1 Jul 21: 16.5k, Expense charged during year: 125k, Prepaid expense 30 Jun 22: 19.6k. Expense paid during year?

ARs. 88,900BRs. 121,900CRs. 128,100DRs. 161,100

Q67Business Economics & Commercial Knowledge vol.2

Gross investment = Net investment + ____________.

ADepreciationBInvestment for replacementCCapital consumptionDAll of the above

Q68Business Economics & Commercial Knowledge vol.2

The diagram represents the market for a good ‘x’. Which of the following could cause an increase in price from P1 to P2?

AA rise in wage rateBA rise in indirect taxesCA rise in price of raw materialDAll of the above

Q69Quantitative Aptitude & Business Economics

y-intercept and slope of the equation 3y = 9 - 12x are:

Ay-intercept 4 slope -3By-intercept 3 slope 4Cy-intercept 3 slope -4Dy-intercept -3 slope -4

Q70Fundamentals of Accounting

The Returns Inwards Book for December has been under-casted by Rs. 100. What journal entry must be recorded to correct this error?

ADEBIT: Suspense Rs. 100 and CREDIT: Sales return Rs. 100BDEBIT: Sales return Rs. 100 and CREDIT: Suspense Rs. 100CDEBIT: Trade receivables Rs. 100 and CREDIT: Sales return Rs. 100DDEBIT: Sales return Rs. 100 and CREDIT: Trade receivables Rs. 100

Q71Business Economics & Commercial Knowledge vol.2

Complete the following statement. The accelerator principle states:

Ahow an Initial increase in a component of national income leads to much greater eventual rise in national incomeBthat a small change in investment will lead to a much greater change in the output of consumer goodsCthat a small change in the output of consumer goods will lead to a much greater change in the production of capital goodsDthat changes in investment level are the cause of trade cycles

Q72Business Economics & Commercial Knowledge vol.2

If the price of a good fell by 20% but total expenditure on the good remained the same, the demand curve could be described as

APerfectly elasticBElasticCPerfectly inelasticDUnitary elasticity

Q73Business & Commercial Knowledge

A company using complex contracts to mislead consumers:

ATakes unfair advantageBEthical practiceCLegal requirementDRecommended strategy

Q74Quantitative Aptitude & Business Economics

X ≥ 5 will have a feasible region:

ATo the left of x = 5 lineBIn the 2nd quadrantCIn the 3rd quadrantDTo the right of x = 5 line

Q75Fundamentals of Accounting

Which shall NOT be part of cost of inventory?

APurchase costBTransportation inCInsurance in transitDSelling cost

Q76Fundamentals of Accounting

Closing stock of Daniel is Rs. 130,200. Damaged items with cost Rs. 25,000 were included. Repair cost Rs. 3,500. After repair these can be sold for Rs. 18,000. What is the correct value of inventory?

ARs. 119,700BRs. 120,200CRs. 105,200DRs. 144,500

Q77Business & Commercial Knowledge

How can shareholders influence major business decisions?

ABy providing feedback on employee performanceBThrough voting rightsCBy managing day-to-day operationsDBy controlling the company's marketing strategy

Q78Business Economics & Commercial Knowledge vol.2

Technical relationship between inputs and output of firms is known as:

AInvestmentBProduction FunctionCConsumption FunctionDNone of the above

Q79Business & Commercial Knowledge

Creditors are considered:

AOwnersBOutsiders giving loansCShareholdersDGovernment

Q80Business Economics & Commercial Knowledge vol.2

If burden of tax cannot be shifted to anyone. It is said to be:

ADirect taxBIndirect taxCG.S.T.DV.A.T.

Q81Fundamentals of Accounting

Which TWO errors cannot be detected by Adjusted Trial Balance?

AOmission of a transactionBRecording an expense as an assetCErrors in addition of account balancesDRecording a transaction on the wrong side of the ledger

Q82Business & Commercial Knowledge

It is possible that something is legal but unethical.

ATrueBFalseCD

Q83Business Economics & Commercial Knowledge vol.2

Mr. Rohail earns Rs.8,000 per year and pays Rs.1,000 in income tax. Mr. Shaffan earns Rs.16,000 per year and pays Rs.2,500 in income tax. Harold earns Rs.24,000 per year and pays Rs.5,500 in income tax. The income tax system is:

ARegressiveBFlat rateCProportionalDProgressive

Q84Fundamentals of Accounting

PN opening receivables Rs.87000 allowance Rs.2500. Wrote off Rs.800 and Rs.550. Recovery Rs.350. Closing receivables Rs.90000 allowance Rs.2300. Charge to P&L?

ARs. 800BRs. 1000CRs. 1150DRs. 1550

Q85Business Economics & Commercial Knowledge vol.2

Which of the following is not an economic resource?

AAirBWaterCSulphuric AcidDBooks

Q86Business & Commercial Knowledge

Aiota Ltd (AL) is a manufacturing organization that produces homecare products. Currently, AL is serving the needs of a single city only with a workforce of 50 people. Which structure suits AL the best:

AFunctionBDivisionalCEntrepreneurialDMatrix

Q87Business Economics & Commercial Knowledge vol.2

What is most likely to cause the public to hold less cash in relation to the level of money income?

Aa fall in interest ratesBa fall in the level of outputCa greater availability of cash substitutesDa rise in the general price level

Q88Fundamentals of Accounting

Each return outwards from purchase return journal is posted to:

Acredit side of individual supplier account in Payables Ledger.Bdebit side of individual supplier account in Payables Ledger.Ccredit side of purchase return account in General Ledger.Ddebit side of purchase return account in General Ledger.

Q89Business Economics & Commercial Knowledge vol.2

If all the commercial banks in a national economy operated on a cash reserve ratio of 20%, how much cash would have to be deposited with the banks for the money supply to increase by Rs.100 million?

ARs.125 millionBRs.75 millionCRs.225 millionDRs.240 million

Q90Fundamentals of Accounting

Sorting receivables into classifications like current 1-30 days past due 31-60 days past due is known as?

ARatio analysisBTrend analysisCDebtor's analysisDAging analysis

Q91Business Economics & Commercial Knowledge vol.2

__________ economics involves ethical precepts and norms of fairness.

ANormativeBPositiveCAppliedDAll of above

Q92Business & Commercial Knowledge

Maturity date for repayment of principal amount is a concern for

ADebt financingBEquity financingCShare capitalDretained earnings

Q93Business Economics & Commercial Knowledge vol.2

AVC become U-shape, when output increases beyond a normal capacity level due to:

ADown pressure of AFC is out weightedBLaw of diminishing returnsCAverage total cost is also U-shapeDAll of these

Q94Business & Commercial Knowledge

Motorway police have one unit of paramedics who serve the commuters in time of emergency. Local hospitals have signed a contract with highway authorities for such services as and when needed. This HR arrangement comes under

AJoint ventureBOutsourcingCSub officesDConsultants

Q95Fundamentals of Accounting

Rizwan bought machine 1 Mar 2021 Rs. 150k. Dep 25% RBM. Changed to SLM from 2022, residual 18.75k after 5 years. Dep for year ended 31 Dec 2022?

ARs. 30,000BRs. 26,250CRs. 23,750DRs. 20,000

Q96Business & Commercial Knowledge

Convenience products are:

ARarely purchasedBWidely available and purchased frequentlyCPurchased after comparison of qualityDHigh-end specialty items

Q97Business Economics & Commercial Knowledge vol.2

Under perfect competition, in the long run If A.R. = M.R. = M.C = Price Firm is earning.

A(i) Normal profitB(ii) Sub normal profitC(iii) Zero accounting profitD(iv) Super normal profit

Q98Business & Commercial Knowledge

Employee absenteeism increases when:_____

AJob dissatisfaction risesBMotivation increasesCWorkload is fairDEmployees are recognised

Q99Quantitative Aptitude & Business Economics

The quadratic equation 5x^2+x+2=0 has:

ATwo distinct rootsBTwo equal rootsCNo real rootsDNone of the above

Q100Fundamentals of Accounting

The following errors have been corrected recently: An unidentified credit of Rs. 294,000 appearing in the bank statement was accounted for in the suspense account. It was discovered that the credit was a settlement of an old outstanding balance previously written off. The amount was net of 2% bank charges. Total sales of 26 December 2019 was Rs. 167,000. This was posted in trade receivable accounts as Rs. 671,000. What would be effect of correcting the above errors on net profit?

ARs. 294,000 increaseBRs. 294,000 decreaseCRs. 210,000 IncreaseDRs. 210,000 decrease

Q101Business Economics & Commercial Knowledge vol.2

All members of a cartel:

Aproduce at the same average costBproduce where their MC equals priceCadopt independent price and output policyDshare the market equally

Q102Fundamentals of Accounting

Columns in three column cash book on payment side shall be:

ACash, Bank and Discount AllowedBCash, Bank and Discount ReceivedCCash, Discount Allowed and Discount ReceivedDBank, Discount Allowed and Discount Received

Q103Business & Commercial Knowledge

JF 123 is designed and developed by Pakistan Aeronautical experts and special advisors from SC jets company. SC experts are working in horizontal fashion to provide expert support to the new project. Which of the following statement(s) characterize SC:

AThe matrix organization is also called the project management approach of organizational structure.BIt combines functional and product departmentalization from Pakistan aero, complementing their strengths and weaknesses, which brings together people from different functional areas of SC organization (such as manufacturing, finance, and marketing) to work on a special project.CEach employee has two direct supervisors: the line manager from her or his specific functional area and the project manager.DAll of the above

Q104Quantitative Aptitude & Business Economics

Animal feed: product A has 5 units vitamin C/kg at Rs.3/kg, product B has 8 units/kg at Rs.6/kg. Feed ≤ 30kg total, ≥ 180 units vitamin C. Find mix for minimum cost:

A20kg and 10kgB30kg and 20kgC10kg and 20kgD40kg and 20kg

Q105Business Economics & Commercial Knowledge vol.2

Unemployment that arises through inefficiencies in the labour market is:

AFrictional unemploymentBStructural unemploymentCVoluntary unemploymentDSeasonal unemployment

Q106Quantitative Aptitude & Business Economics

A quadratic function cuts y-axis at (0, 4). Which is a possible equation?

Ay = x² + 4x + 4By = 2x² + 4x − 4Cy = 2x² + 4x + 6Dy = 2x² + 4x + 8

Q107Quantitative Aptitude & Business Economics

Which of the following applies to discrete as well as continuous variables:

ABinomial distributionBNormal DistributionCChi Square distributionD(b) and (c)

Q108Business Economics & Commercial Knowledge vol.2

Which one of the following would not shift a country's production possibility frontier outwards?

AAn increase in exportsBTechnical progress reducing production costsCAn increase in the working populationDAn improvement in the literacy rate

Q109Business & Commercial Knowledge

Ayla is a gardening expert, she controls the entire business. She serves the customers as per their requirements. She can hire a few people to help her redesign the gardens. Which structure is appropriate for her?

AEntrepreneurial structureBFunctional structureCDivisional structureDProduct structure

Q110Quantitative Aptitude & Business Economics

Rs.30,000 deposited every six months into a retirement account at 12% p.a. compounded semi-annually. Value of account after 15 years is:

ARs.2,341,746BRs.2,371,746CRs.2,331,746DRs.2,351,746

Q111Business Economics & Commercial Knowledge vol.2

Which one of the following would cause a fall in the level of aggregate demand in an economy?

AA decrease in the level of importsBA fall in the propensity to saveCA decrease in government expenditureDA decrease in the level of income tax

Q112Quantitative Aptitude & Business Economics

A and B play four games. P(A wins) = 7/10. What is the probability that A wins three games consecutively only and loses the remaining one?

A0.1B0.2C0.14D0.24

Q113Business Economics & Commercial Knowledge vol.2

The multiple effect of government investment is likely to be greater when

Athere is excess production capacity in the private sector of industryBthere is a high marginal propensity to consumeCthe increased spending is financed by higher taxationDthere is a high level of stocks in firms

Q114Fundamentals 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

Q115Fundamentals of Accounting

Depreciable amount means:

ACost of an asset + Residual valueBCost of an asset – Residual valueCCost of an asset – Residual value / useful lifeDResidual value – Cost of an asset

Q116Business & Commercial Knowledge

Which of the following is a function of a DBMS?

AIt only stores data but does not organize itBIt acts as an interface between the user and the database, managing data and schema.CIt processes large amounts of data offline.DIt eliminates the need for any data retrieval.

Q117Fundamentals of Accounting

A sales invoice of Rs. 24,000 was debited to the debtor's account as Rs. 42,000. What journal entry must be recorded to correct this error?

ADEBIT: Suspense Rs. 18,000 and CREDIT: Receivables Rs. 18,000BDEBIT: Receivables Rs. 18,000 and CREDIT: Suspense Rs. 18,000CDEBIT: Suspense Rs. 66,000 and CREDIT: Receivables Rs. 66,000DDEBIT: Receivables Rs. 66,000 and CREDIT: Suspense Rs. 66,000

Q118Quantitative Aptitude & Business Economics

If 3x+7 ≤ 5x−3, find the range of x:

ALess than or equal to 7BGreater than or equal to 5CLess than or equal to 5DGreater than or equal to 2

Q119Business Economics & Commercial Knowledge vol.2

If government has decided to increase its spending, it will:

AReduce multiplierBIncrease the effect of multiplierCNot affect the multiplierDIt will work with other economic forces

Q120Business & Commercial Knowledge

Input device that reads data from text and converts it into an editable document is called:

AMICRBOCRCScannerDNone of the above

Q121Business Economics & Commercial Knowledge vol.2

The cooking oil industry can be an example of:

AOligopolyBMonopolistic CompetitionCPerfect CompetitionDMonopoly

Q122Business Economics & Commercial Knowledge vol.2

If S = -60 + 0.3Y, then

AMPC > MPSBMPC < MPSCMPC = MPSDMPS =APC

Q123Business Economics & Commercial Knowledge vol.2

Which of the following products is likely to have the lowest price elasticity of demand?

ASaltBCarsCHousesDApples

Q124Business & Commercial Knowledge

Bonds Creates a commitment of cash payments – interest and principal – Fixed interest rate bonds are exposed to inflationary risk.

ATrueBFalseCD

Q125Fundamentals of Accounting

Which of the following statements is not true?

AAccruals of expenses decrease profitBAccrued income decreases profitCPrepayment is assetDNone of the above is incorrect

Q126Business & Commercial Knowledge

Which of the following is generally not a reason of an employee's decision to leave?

AFinancial instability of a companyBBad relationship with managerCBad relationship with secretaryDBoring work

Q127Business & Commercial Knowledge

Initial screening includes:

AChecking competitorsBReviewing applications and short interviewsCJob rotationDInduction training

Q128Fundamentals of Accounting

Current Assets: 66,000, Current Liabilities: 16,000, Non-current Assets: 45,000, Non-current Liabilities: 32,000, Capital: 63,000. What is the total of Assets?

ARs. 127,000BRs. 111,000CRs. 79,000DRs. 63,000

Q129Business & Commercial Knowledge

Dividends on equity shares:

AMust be paidBNot compulsoryCGovernment fixedDAlways constant

Q130Fundamentals of Accounting

PPE 336k (net of accum dep 114k) at 1 Jan 2022. Addition 1 Apr 2022 Rs. 115k (incl installation 12k). Dep at 20% reducing balance. Depreciation for year ended 31 Dec 2022?

ARs. 67,200BRs. 82,650CRs. 84,450DRs. 90,200

Q131Business & Commercial Knowledge

Ethical leadership influences:

AOrganizational cultureBOnly profitsCOnly costsDOnly revenue

Q132Fundamentals 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

Q133Quantitative Aptitude & Business Economics

One root of ax^2+3x-12=0 is 2. Find a:

A4/5B2C3/2D1

Q134Business & Commercial Knowledge

Entrepreneurship involves:

ARisk-taking and innovationBOnly following rulesCOnly avoiding risksDOnly managing people

Q135Fundamentals of Accounting

Cheques Rs. 1,550,000 deposited wrongly credited in bank book. Of these, Rs. 1,050,000 cleared in July, Rs. 500,000 dishonoured 2 July. Appropriate action?

AInclude Rs. 1,550,000 on receipt, adjust uncredited Rs. 1,550,000 in BRSBInclude Rs. 3,100,000 on receipt, adjust uncredited Rs. 1,550,000 in BRSCInclude Rs. 3,100,000 on receipt and Rs. 500,000 on payment, adjust uncredited Rs. 1,550,000 in BRSDInclude Rs. 3,100,000 on receipt and Rs. 500,000 on payment, adjust uncredited Rs. 1,050,000 in BRS

Q136Business & Commercial Knowledge

A sole proprietorship has:

AComplex formationBEase of formationCMany legal formalitiesDHigh setup costs

Q137Quantitative Aptitude & Business Economics

Construct price index using Paasche formula for the following data:

A125.25B124.07C124.66D73.02

Q138Business Economics & Commercial Knowledge vol.2

The diagram shows the relationship between consumption and income in an economy which of the following statement is incorrect

AAt zero level of income consumption is zeroBAt y2 saving is zeroCAt y1 consumption is greater than incomeDAt y3 income is more than consumption

Q139Fundamentals of Accounting

Which of the following document is prepared when an item is needed in the business but it is not available in stock?

APurchase requisitionBQuotation and approvalCPurchase orderDGoods received note

Q140Business Economics & Commercial Knowledge vol.2

If M.P.C. is greater for the poor than the rich, then a redistribution of income in favour of the rich will:

AIncrease the value of multiplierBDecrease the M.P.S.CIncrease the volume of importsDRaise the level of savings

Q141Fundamentals of Accounting

KLM total receivables Rs.10000. Bad debt Rs.1000 not recorded. Increase allowance by Rs.500. Net amount to be expensed in statement of comprehensive income?

ARs. 10000BRs. 1000CRs. 11000DRs. 1500

Q142Business Economics & Commercial Knowledge vol.2

Which one is an advantage of Indirect Taxation?

ARegressiveBDecreases cost-push inflationCEvasion is difficultDNone of the above

Q143Quantitative Aptitude & Business Economics

Equation of line through intersection of 2x+3y−5=0 and 7x−5y−2=0, parallel to 2x−3y+14=0:

A2x−3y+1=0B2x−3y−1=0C3x+2y+1=0D3x+2y−1=0

Q144Business & Commercial Knowledge

Equity financing has:

ANo riskBHigher risk & higher returnCGuaranteed profitDFixed repayment

Q145Fundamentals of Accounting

Prepayments Rs. 1,290. 1 Oct 2017: 50% advance Rs. 240 for annual contract (1 Oct to 30 Sep 2018) credited to income. Services Rs. 150 rendered Dec 2017, recorded Jan 2018. Year end 31 Dec 2017. Prepayments in financial position?

ARs. 1,290BRs. 1,440CRs. 1,380DRs. 1,200

Q146Business Economics & Commercial Knowledge vol.2

All of the following shift the short-run aggregate supply curve except

AA change in the price level of finished goods.BA change in the price of oil.CA change in the price of raw material.DA change in wages as a result of a labor strike.

Q147Quantitative Aptitude & Business Economics

For the function y = 2x² + 3x + 2. Find the value of y when x = 2:

A12B14C16D18

Q148Fundamentals of Accounting

Which statement(s) is/are correct?

ACash paid to suppliers will be credited to creditors accountBCheques issued to suppliers will be debited to creditors accountCContra settlement with debtors will be credited to the creditors accountDNone

Q149Fundamentals of Accounting

Tom Limited acquired delivery truck on 1 April 2019 at cost Rs. 4,800,000 with 8 years life and nil residual value. Year end 31 Dec 2019. Depreciation charge for 2019 on straight line basis?

ARs. 600,000BRs. 800,000CRs. 450,000DRs. 500,000

Q150Business Economics & Commercial Knowledge vol.2

A country's electronics industry, which is major export industry, switches from the production of mass low-cost, low-profit margin microchips to the production of more red, high-cost, profit margin custom-built microchips. The consequence of this switch in production for the country will be

Aan improvement in the balance of tradeBa deterioration in the balance of tradeCan improvement in the terms of tradeDa worsening of the terms of trade

Q151Business & Commercial Knowledge

Which of the following statements about the informal organization is not true?

AQuick decision makingBCreative and innovativeCStrong team relationsDMore documentation

Q152Business & Commercial Knowledge

A vision statement focuses on:

APast achievementsBCurrent operationsCFuture aspirationsDEmployee benefits

Q153Business & Commercial Knowledge

Capital items in industrial products refer to:

AShort-term suppliesBLong-term assets like machineryCDigital filesDMarketing materials

Q154Business & Commercial Knowledge

Chain of command clarifies:

AWho reports to whomBCustomer needsCSupplier contractsDProduct quality

Q155Business & Commercial Knowledge

Manager finance approved high budgeted marketing sponsorship of sports event as it will create:

AProfitBCustomer baseCMarket reputationDValue addition for sales

Q156Business Economics & Commercial Knowledge vol.2

Persistent rise in general price levels and then fall in real value of money is called:

ADeflationBRecessionCInflationDDisinflation

Q157Business Economics & Commercial Knowledge vol.2

In short-run Phillips curve, what is assumed to remain constant when drawing this curve?

Athe average price levelBthe money supplyCthe exchange rateDthe natural rate of unemployment

Q158Fundamentals of Accounting

How different formats of ledgers are balanced?

AT account: periodically & Running balance account: periodicallyBT account: after each transaction & Running balance account: after each transactionCT account: periodically & Running balance account: after each transactionDT account: after each transaction & Running balance account: periodically

Q159Quantitative Aptitude & Business Economics

Product must contain at least 1 unit of x and 2 units of y. Total must not exceed 8 units. Cost per unit of x=10 and y=2. Formulate constraints and objective function:

Ax≥1; y≥2; x+y≤8; Cost=10x+2yBx≥1; y≥2; x+y≤8; Cost=2x+10yCx≥0; y≥0; x+y≤8; Cost=10x+2yDx≥1; y≥2; x+y≤2; Cost=10x+2y

Q160Business Economics & Commercial Knowledge vol.2

Cross elasticity of demand for complementary goods is always.

APositiveBNegativeCZeroDInfinity

Q161Fundamentals of Accounting

Which are covered under scope of IAS-16?

ATangible asset held for use in productionBLand and Building held for capital appreciationCBuilding held for use as factoryDTangible asset held for use in administration

Q162Quantitative Aptitude & Business Economics

Population of 8 million on Jan 1 2010 grows exponentially at 2% per year. Population on Jan 1 2015?

A8.74 millionB8.84 millionC8.64 millionD7.84 million

Q163Business Economics & Commercial Knowledge vol.2

In a closed economy, the full employment level of income is Rs.90 million, C= 2/3 Y and I = Rs. (40-3r) million, where C = consumption, Y = income, I = investment and r= the rate of interest. If planned government expenditure is Rs.20 million, what rate of interest would be required for there to be full employment?

A10% per annumB12% per annumC14% per annumD16% per annum

Q164Business Economics & Commercial Knowledge vol.2

Investment spending is positively related to the rate of interest, ceteris paribus.

ATrueBFalseCD

Q165Business Economics & Commercial Knowledge vol.2

The supply curve would shift to the left when:

APrice of good goes downBTaxes of government go downCPrices of complements go downDPrices of substitute goods go down

Q166Fundamentals of Accounting

At 30 Jun 22: accrued internet 19.8k, prepaid 23.3k. Paid during year 196.85k, charged to P&L 211.2k. If accrued at 30 Jun 21 was 16.6k, prepaid at 30 Jun 21?

ARs. 5,750BRs. 27,450CRs. 34,450DRs. 10,850

Q167Fundamentals of Accounting

At 31 Dec 2022 receivables Rs.400000 allowance Rs.50000 brought forward. Write off Rs.38000 adjust allowance to 10%. Charge to P&L?

ARs. 74200BRs. 51800CRs. 28000DRs. 24200

Q168Business 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

Q169Business & 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

Q170Business 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

Q171Fundamentals of Accounting

In which book of prime entry does debit notes received worth Rs.100000 would be recorded?

AAccounts payable bookBPurchase journalCReturn inwards journalDReturns outward journal

Q172Quantitative Aptitude & Business Economics

Select ALL qualities of good data from the following list: (a) Timely (b) Clear and understandable (c) Reliable (d) Consistent

ATimely onlyBClear and understandable onlyCReliable onlyDAll of the above: Timely, Clear, Reliable and Consistent

Q173Fundamentals of Accounting

Zamil Limited applied for an overdraft limit of Rs. 0.5 million, which was accepted by bank. Which statement is correct?

ABank will transfer Rs. 0.5 million to bank accountBBank will pay all the cheques issuedCBank will pay all cheques of amount less than 0.5 millionDBank will pay cheques provided account will not be overdrawn by more than Rs. 0.5 million

Q174Quantitative Aptitude & Business Economics

A _______ is a constant cash flow for a given number of periods.

APerpetuityBDiscounting factorCAnnuityDNet present value

Q175Business Economics & Commercial Knowledge vol.2

A country's measured national income per capital falls but its inhabitants experience a rise in consumption. What could explain this?

AA decrease in net foreign remittancesBA fall in populationCAn increase in trade deficitDA rise in negative externalities

Q176Fundamentals of Accounting

Trade receivables Rs. 4,400. Allowance per age analysis: 50 + 90 + 106 = 246. Net receivables?

ARs. 4,154BRs. 4,180CRs. 4,230DRs. 4,400

Q177Business & Commercial Knowledge

In a sole proprietorship, profits belong to:

AGovernmentBOwnerCEmployeesDCustomers

Q178Fundamentals of Accounting

What does the reliability concept in accounting emphasize?

AFinancial statements should be available promptly after the reporting periodBFinancial information should be verifiable accurate and dependable based on objective evidenceCFinancial statements should be comparable with those of other companiesDFinancial information should be concise and easy to understand

Q179Quantitative Aptitude & Business Economics

Which of the following is INCORRECT?

Ax^2+x-6 = (x-2)(x+3)Bx^2-6x+8 = (x-4)(x-2)Cx^2-7x+12 = (x-3)(x-4)Dx^2-6x+12 = (x-3)(x-4)

Q180Business Economics & Commercial Knowledge vol.2

In a closed economy with no government sector, the consumption function is thought to be C = 30,000 million+ 0.4Y Investment is Rs.30,000 million per year. Which of the following statements is correct?

AEquilibrium income is 80,000 million & Value of the multiplier = 1.67BEquilibrium income is 80,000 million & Value of the multiplier = 2.50CEquilibrium income is 100,000 million & Value of the multiplier = 1.67DEquilibrium income is 100,000 million & Value of the multiplier = 2.50

Q181Fundamentals of Accounting

Nishter received rental in advance quarterly: 1 May 21: 45k, 1 Aug 21: 45k, 1 Nov 21: 45k, 1 Feb 22: 45k, 1 May 22: 48k. Which TWO statements correct?

ARental income for year ended 30 Jun 22 was Rs. 182kBAccrued rental income at 30 Jun 22 was Rs. 48kCUnearned rental income at 1 Jul 21 was Rs. 15kDUnearned rental income at 30 Jun 22 was Rs. 48k

Q182Business Economics & Commercial Knowledge vol.2

Any monetary claim against physical or legal person can be used for the purchase of goods and services are called:

AMoneyBFiat moneyCCredit moneyDToken money

Q183Business Economics & Commercial Knowledge vol.2

That branch of economics which describes the mechanism to collect taxes for state and their spending to perform various functions is known as:

AMonetary policyBTrade policyCPublic financeDAnti-inflationary policy

Q184Fundamentals of Accounting

Cash account Rs. 1,660,000 Dr (unadjusted). Adjustments: Debit undercast Rs. 200,000, Receipts brought forward Rs. 4,275,000 instead of Rs. 2,475,000 (error 1,800,000), Cheque bounced Rs. 220,000, Bank charges Rs. 184,000, Unpresented Rs. 520,000, Uncleared Rs. 626,000. Corrected cash book for SOFP?

ARs. 344,000 in current assetsBRs. 344,000 in current liabilitiesCRs. 970,000 in current assetsDRs. 970,000 in current liabilities

Q185Quantitative Aptitude & Business Economics

Factory A: 3500 units at Rs. 228/unit. Factory B: 5400 units at Rs. 190/unit. Find linear cost function:

AC = −0.02x − 298BC = −0.02x + 298CC = 0.02x − 298DNone of these

Q186Fundamentals of Accounting

Opening receivables Rs.45000; Credit sales Rs.55000; Cash sales Rs.10000; Cash received Rs.35000; Write off Rs.2000. Allowance 2%. Entry for allowance adjustment?

ADr Bad debts Rs.360 Cr Allowance Rs.360BDr Allowance Rs.360 Cr Bad debts Rs.360CDr Bad debts Rs.360 Cr Receivables Rs.360DDr Receivables Rs.360 Cr Bad debts Rs.360

Q187Quantitative Aptitude & Business Economics

The ____ of a future cash flows is the amount that an investor would need to invest today to receive that amount in the future.

AFuture valueBPresent valueCEffective annual rateDNominal rate

Q188Quantitative Aptitude & Business Economics

An employer recruits experienced (x) and fresh workmen (y) under the condition that he cannot employ more than 9 people. x and y can be related by the inequality:

Ax+y≠9Bx+y≤9 x>0 y>0Cx+y≥9 x>0 y>0DNone of these

Q189Fundamentals of Accounting

Which statement best reflects the Consistency Concept?

ASwitching inventory valuation methods each yearBUsing the same inventory valuation method for all yearsCChanging inventory valuation methods frequentlyDApplying different accounting methods for different periods

Q190Fundamentals of Accounting

. X Ltd rents its building to Y Ltd. At 31st December 2018, Y Ltd owed Rs. 4,500 for rent, but at 31st December 2019, had paid Rs. 3,200 in advance. During the year X Ltd had received Rs. 17,100 in rental from Y Ltd. What is the rental income to be shown in the Statement of Profit or Loss of X Ltd for the year ended 31st December 2019?

ARs. 9400BRs. 9400CRs. 17100DRs. 24800

Q191Fundamentals of Accounting

How does the comparability concept benefit users of financial statements?

AIt ensures that financial statements are prepared by chartered accountantsBIt allows users to compare financial information between different periods and entitiesCIt focuses on ensuring financial statements are error-freeDIt requires companies to report all financial information in the same currency

Q192Fundamentals of Accounting

Jaffer Associates sold generator for Rs. 1,440,000 (net of Rs. 60,000 discount). Normally sells at 25% markup. Uses perpetual system. Which entry is correct to update inventory?

ADebit Cost of Sales Rs. 1,152,000 & Credit Inventory Rs. 1,152,000BDebit Cost of Sales Rs. 1,200,000 & Credit Inventory Rs. 1,200,000CDebit Cost of Sales Rs. 1,104,000 & Credit Inventory Rs. 1,104,000DDebit Inventory Rs. 1,500,000 & Credit Cost of sales Rs. 1,500,000

Q193Business Economics & Commercial Knowledge vol.2

The Demand for fashion goods is not affected by:

APrice of goods it selfBIncome of consumersCQuality of productDAge

Q194Fundamentals of Accounting

A company had cash balance Rs.18000 at start of month. Transactions: (i) Sales on credit Rs.72000 (ii) Cash from trade receivables Rs.49000 (iii) Purchases on credit Rs.33000 (iv) Payments to trade payables Rs.35000. What was the cash balance at end of month?

ARs. 14000BRs. 32000CRs. 97000DRs. 167000

Q195Quantitative Aptitude & Business Economics

A quadratic expression is one in which the degree of variable is:

AOneBTwoCThreeDFour

Q196Quantitative Aptitude & Business Economics

For 8 pairs: Σx=256, Sy=968, Σ(x-32)²=1022, Σ(y-121)²=4941, Σ(x-32)(y-121)=2212. Calculate correlation.

A0.98B0.044C0.31DNone

Q197Business & Commercial Knowledge

Capital includes:

AOnly moneyBMan-made resourcesCOnly machinesDOnly tools

Q198Fundamentals of Accounting

At 31 Dec 2020, PPE Cost Rs. 860M, Accumulated dep Rs. 260M. On 31 Aug 2021, purchased equipment Rs. 100M. Depreciation 20% p.a. reducing balance on pro rata basis. Depreciation charge for year ended 31 Dec 2021?

ARs. 192 millionBRs. 178.67 millionCRs. 140 millionDRs. 126.67 million

Q199Quantitative Aptitude & Business Economics

The purpose of classification and tabulation is to present data in:

AVisual formBEasy to understand formCFrequency distributionDNone of these

Q200Fundamentals of Accounting

Bank reconciliation statement is

APart of bank statementBPart of the cash bookCA separate statementDA sub-division of journals (day books)

Q201Fundamentals of Accounting

Receivables 1 Jan 2018 Rs.70000; Receivables 31 Dec 2018 Rs.25000; Cash received Rs.250000; Discount allowed Rs.4000. No returns or cash sales. At what amount Sales Revenue shall be reported?

ARs. 291000BRs. 250000CRs. 205000DRs. 209000

Q202Quantitative Aptitude & Business Economics

Bank A: 12.25% compounded semi-annually. Bank B: 12% compounded monthly. Which offers higher effective rate?

ABank BBBank ACBoth sameDCannot be determined

Q203Fundamentals of Accounting

Non-Current Assets: 42,000, Non-Current Liabilities: 24,000, Current Assets: 21,000, Current Liabilities: 12,000, Capital: 27,000. What is the total of Net Assets?

ARs. 66,000BRs. 63,000CRs. 36,000DRs. 27,000

Q204Quantitative Aptitude & Business Economics

For y = 5x² + 2x − 1, the y-intercept will be above x-axis:

ATrueBFalseCCannot be determinedDDepends on x

Q205Fundamentals of Accounting

Which are examples of accrued expense?

AAnnual rental paid at time of agreementBExpenses paid in arrearsCSalaries paid to employees in subsequent monthDInterest on loan paid annually