1. -œAuditor is not an insurer." In which of the following cases the decision has been given ?

2. Indian Accounting Standard -“ 28 is related to-”

3. The first Stock Exchange in India was established in-”

4. Which of the following statement is correct ?

5. 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.

6. In Balance Sheet Audit Accounts are audited-”

7. The number of subordinates a superior can effectively handle is called-”

8. The Section 80A of the Companies-™ Act is related with the redemption of-”

9. The present World Economic Depression first of all started from which country ?

10. Principle of -˜Unity of Command-™ means-”

11. 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-”

12. Increase in fixed asset due to purchase is-”

13. According to ownership Government Company means -¦-¦-¦ share.

14. Audit adopted by banking company is-”

15. Which institution is known as the -˜Soft Loan Window-™ of World Bank ?

16. Consider the following information pertaining to K Ltd. on September 4 2005 the company issued 12000 7% debentures having a face value of Rs. 100 each at a discount of 2-¢5%. On September 12 the company issued 25000 preference shares of Rs. 100 each. On September 29 the company redeemed 30000 preference shares of Rs. 100 each at a premium of 5% together with one month dividend @ 6% p.a. thereon. Bank balance on August 31 2005 was Rs. 3000000. After effecting the above transaction the Bank Balance as on September 30 2005 will be-”

17. A meeting of the shareholders held only once during the life time of the company is known as-”

18. Auditor shall be punished with imprisonment for a maximum period of -¦-¦-¦ under Section 539 for falsification in the books of accounts.

19. If the goods purchased are in transit then the Journal Entry at the end of the period will be-”

20. It is given that cost of stock is Rs. 100. However its market price is Rs. 98 (buying) and Rs. 140 (selling). If the market price is interpreted as the replacement cost then the stock should be valued at-”

21. The following figures are presented to you-” Year Sales Profit/Loss 1999 Rs. 100000 Rs. 10000 (Loss) 2000 Rs. 250000 Rs. 20000 (Profit) Calculate Profit Volume Ratio.

22. A manufacturer is operating at 50% of its capacity due to competition. The following are the details. Raw materials Rs. 6 per unit Direct Labour Rs. 4 per unit. variable overhead - Rs. 3 per unit fixed overhead - Rs. 2 per unit output 15000 units total cost Rs. 225000 sales value Rs. 210000 loss Rs. 15000. A foreign customer wants to buy 6000 units at Rs. 13-¢50 per unit and the company does not know whether to accept or not as it is suffering losses at the current level. Advise what he should do ?

23. Share premium account can be used for-”

24. In order to reduce the risk of heavy insurance the insurer passes on some business to the other company it is called-”

25. In -˜Direction-™ who is given importance ?