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Past Years Commerce Questions Set - 4
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Past Years Commerce Questions Set - 4
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25 Questions

1. -œOrganisation is a Management Process by which people functions and physical factors are brought together to form a controllable unit." This definition is given by-”
2. Which of the following have lien of Company Auditor ?
3. Indian Accounting Standard -“ 28 is related to-”
4. Total sales is Rs. 760000 cash sales Rs. 30000 collection period is 25 days debtors at Balance Sheet date will be-”
5. Convertibility of the rupee implies-”
6. Depletion method of depreciation is used in case of-”
7. A company made the purchases of an item during its financial year. January 2007 200 @ Rs. 50 each May 2007 400 @ Rs. 60 each August 2007 600 @ Rs. 70 each Novem- 2007 300 @ Rs. 80 each ber Closing inventories were 500 articles. Find out the value of closing stock as per Weighted Average Method-”
8. The following information is obtained from the records of K Co. Ltd.-” Sales (100000 units) Rs. 100000 Variable cost Rs. 40000 Fixed cost Rs. 30000 Find out margin of safety.
9. The Branch of Accounting which is concerned with the processing and presenting data for decision making is known as-”
10. In Need Hierarchy Theory of Abraham H. Maslow Self Actualisation needs are at level-”
11. Final accounts prepared in narrative style are in-”
12. As per Schedule VI of the Companies-™ Act 1956 Forfeited Share Account will be-”
13. The first Stock Exchange in India was established in-”
14. -œAuditor is not an insurer." In which of the following cases the decision has been given ?
15. -¦-¦-¦ has been founded to act as permanent watchdog on the international trade.
16. -œThe position of a Company Secretary is like that of a hub in a bicycle wheel." This statement shows the-”
17. Appointment of a person who is a Director as a Secretary in the Company would require approval of the company by-”
18. A company has a separate legal existence from its members. This principle was first laid down in case of-”
19. The Section 80A of the Companies-™ Act is related with the redemption of-”
20. A company invited application for subscription of 5000 shares. The application were received for 6000 shares. The shares were allotted on pro-rata basis. If X has applied for 180 shares how many shares would be allotted to him ?
21. Rate of Gross Profit on cost is 25%. Total sales is Rs. 100000 and Average Stock is Rs. 160000. Stock Turnover Ratio will be-”
22. In common size Balance Sheet analysis we evaluate-”
23. A public company can start its business operations after getting-”
24. To appoint new auditor in place of retiring auditor to adopt the procedure which section of Companies-™ Act 1956 is applicable ?
25. The first Secretary of the company is appointed by-”

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