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Past Years Commerce Questions
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Past Years Commerce Questions
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25 Questions

1. Auditor shall be punished with imprisonment for a maximum period of -¦-¦-¦ under Section 539 for falsification in the books of accounts.
2. -œAuditor is not an insurer." In which of the following cases the decision has been given ?
3. Articles of Association can be altered by passing-”
4. The object of -˜Agenda-™ is to inform-”
5. V. V. Bros. purchased a machine on 1st October 2003 at cost Rs. 270000 and spent Rs. 30000 on its installation. The firm written off depreciation 10% per annum on original cost every year. The books are closed on 31st March every year. The machine is sold on 30 September 2006 for Rs. 190000. How much amount will be transferred to P & L A/c as loss on sale of machinery ?
6. A meeting of the shareholders held only once during the life time of the company is known as-”
7. Calculate Return on Investment/ Return on Proprietor-™s fund. Gross profit of a firm is Rs. 320000 Operating expenses Rs. 100000 Taxes Rs. 20000 Owner-™s fund Rs. 500000 Debenture Interest Rs. 50000-”
8. Which of the following have lien of Company Auditor ?
9. Managerial Planning is a-”
10. 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 ?
11. Final accounts prepared in narrative style are in-”
12. The minimum paid-up share capital for a public company shall be-”
13. Convertibility of the rupee implies-”
14. When the existing companies raise additional funds by issue of shares to the existing shareholders in proportion to their existing shareholdings it is called-”
15. The first Stock Exchange in India was established in-”
16. In Balance Sheet Audit Accounts are audited-”
17. Ploughing-back of profits means-”
18. The Branch of Accounting which is concerned with the processing and presenting data for decision making is known as-”
19. The Section 80A of the Companies-™ Act is related with the redemption of-”
20. Appointment of full time Company Secretary is compulsory in all those companies whose paidup share capital is-”
21. Recording of capital contributed by the owner as liability ensures the adherence of principle of-”
22. To appoint new auditor in place of retiring auditor to adopt the procedure which section of Companies-™ Act 1956 is applicable ?
23. 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-”
24. For the purpose of preparation of fund flow statement fund means-”
25. The following data relates to manufacturing company for the year 2006-07-” Net Profit as per P & L A/c-”Rs. 240000; Depreciation-”Rs. 80000; Goodwill written-off-”Rs. 40000 Profit on Sale of Fixed Assets-”Rs. 16000 Proposed Dividend-”Rs. 96000. The fund from operation would be-”

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