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Appendix CA-CPT Scanner (English)

December - 2012 Examination

Paper – 1 : Fundamentals of Accounting

Chapter-1: Accounting: An Introduction

Unit-2: Accounting Concepts, Principles and Conventions

[1] The _________ concept means that similar items in a set of accounts should be given similar accounting treatment and it should be applied for one period after another :

(a) Going concern (b) Prudence (c) Consistency (d) Materiality.

Answer : (c)

[2] Matching concept means : (a) Assets equal to liabilities plus capital (b) Transactions are recorded at actual cost (c) Anticipate no profits but recognize all losses (d) Expenses should be matched with the revenue of the period.

Answer : (d)

Chapter-2: Accounting Process

Unit-1: Basic Accounting Procedures – Journal Entries [3] Debit the expenses or losses, credit all incomes and gains, is the rule for :

(a) Real Account

(b) Personal Account

(c) Nominal Account

(d) All of the above.

Answer : (c)

[4] Goods are distributed as free samples worth ` 50,000 for advertisement

purpose. Which of the following journal entry would be passed : (a) Advertisement A/c Dr 50,000

To Purchases A/c 50,000

(b) Purchases A/c Dr 50,000

To Advertisement A/c 50,000

(c) Advertisement A/c Dr 50,000

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To Sales A/c 50,000

(d) None of the above.

Answer : (a) [5] Rent of proprietor’s house paid from business account by cash will — :

(a) Decrease the profit

(b) Increase the profit

(c) Reduce the capital of business

(d) Reduce the cash as well as capital of business

Answer : (d)

Unit-2: Ledgers

[6] From the following information ascertain the closing balance of debtors :

Opening balance of debtors ` 32,600; total sales ` 1,03,000; cash collected from

debtors ` 70,000; sales return ` 1,500; discount on purchases ` 1,200; cash sales

` 43,000; bad debts ` 700 :

(a) ` 19,200

(b) ` 20,400

(c) ` 63,400

(d) ` 21,900

Answer : (b)

[7] Furniture of book value of ` 20,000 was sold for ` 6,000 and new furniture of ` 20,000 was purchased. Amount debited towards purchase of new furniture will

be :-

(a) ` 14,000

(b) ` 29,000

(c) ` 5,000

(d) ` 20,000

Answer : (d)

Unit-6: Capital and Revenue Expenditures and Receipts

[8] A new machine was purchased in Delhi and brought to Jaipur factory site for installation. The machine was damaged during transit and repair expenses were incurred amounting to ` 20,000. Such repair will be treated as :

(a) Capital expenditure (b) Revenue expenses (c) Deferred revenue expenditure (d) Reserves Answer : (b) [9] Revenue Expenditure wrongly recorded as Capital Expenditure will result in : (a) Overstatement of net profit and understatement of assets (b) Overstatement of net profit and overstatement of assets (c) Understatement of net profit and overstatement of assets

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(d) Understatement of net profit and understatement of assets

Answer : (b)

Unit-8: Rectification of Errors

[10] Goods worth ` 750 were purchased from S & Co. but while posting wrong debit was given to R & Co. The total of credit side of the trial balance was ` 43,750. Assuming that this is the only error, the total of the debit side of the trial balance was :

(a) ` 43,750 (b) ` 44,500 (c) ` 43,000 (d) ` 45,250

Answer : (d)

[11] Which type of error occurs when credit sale is wrongly posted to purchases

book?

(a) Error of commission

(b) Error of omission

(c) Compensatory Error

(d) Error of Principle

Answer : (a)

Chapter-3: Bank Reconciliation Statement

[12] On 31st March, 2011, the bank statement of M/s Smile Traders showed a credit

balance of ` 10,585. However, during the year the following entries were not

found in the cash book of the firm :

(1) The bank had debited ` 35 per month as bank charges

(2) Quarterly interest was credited to the account amounts respectively ` 25, 42,

39 and 57

The balance of bank account as per the Cash Book of the firm as on 31st March,

2011 was :

(a) ` 10,547

(b) ` 10,713

(c) ` 10,328

(d) ` 10,842

Answer : (d)

[13] Bank overdraft as per Cash Book on 31st May, 2011 was ` 8,720. Cheques

deposited on 28th May but not credited until 31st May amounted to ` 690. These

were credited on 4th June, 2011. Bank overdraft as per Pass Book is ________ :

(a) ` 8,054

(b) ` 8,030

(c) ` 9,410

(d) ` 9,366


Answer : (c)

[14] Bank column of a cash book of a trader shows a credit balance of ` 7,900, and

the bank statement shows a debit balance of ` 10,300 on a particular date after

payments made by the bank as per the standing orders. In the statement of

affairs, the bank balance will be shown on :

(a) Assets side ` 7,900

(b) Liabilities side ` 10,300

(c) Liabilities side ` 2,400

(d) Assets side ` 10,300

Answer : (b)

[15] The bank charged ` 1,000 as bank charges to a client and communicates the

same to him. The accountant records it in the bank account in books. Later on

the bank realizes that the charges were wrongly charged and reverses the

same, but forgot to communicate the same to the client. If the accountant is

starting with the bank balance as per bank account in books, what will be the

treatment in Bank Reconciliation statement to arrive at balance as per Bank

statement :

(a) Reduce ` 1,000

(b) Add ` 1,000

(c) Add ` 2,000

(d) No treatment

Answer : (b)

[16] An amount of ` 5,000 debited twice in pass book, to prepare Bank Reconciliation

Statement, when overdraft as per the cash book in the starting point :

(a) ` 5,000 will be deducted

(b) ` 5,000 will be added

(c) ` 10,000 will be deducted

(d) ` 10,000 will be added

Answer : (b)

Chapter-4: Inventories [17] Following figures have been extracted from the books for the year ended 31st

March, 2011 : (i) Cost of goods sold ` 35,000 (ii) Closing stock as on 31st March, 2011 ` 8,000 (iii) Opening stock as on 1st April, 2010 ` 10,000 (iv) Purchase Return ` 5,000 What would be the amount of gross purchases for the year ended 31st March,

2011? (a) ` 33,000 (b) ` 38,000


(c) ` 28,000 (d) ` 37,000

Answer : (b)

Chapter-5: Depreciation Accounting [18] Estimated useful life of a machinery is 5 yrs. Depreciation written off in second

year under sum of years digit method would be : (a) 4/15 (b) 3/15 (c) 2/15 (d) 1/15 Answer : (a) [19] A company purchased a machine on 1/4/00 at ` 3,10,000. Its working life is

estimated to be 15 years and the residual value is estimated as ` 10,000. The company charged depreciation on straight line basis till 31/3/10. On 1/4/10, the technology expert recommend that the asset may be used for another 10 years. Residual value of the machine remains unchanged. What would be the amount of annual depreciation from the accounting year 2010-11 following the relevant accounting standard :

(a) ` 10,000 (b) ` 20,000 (c) ` 11,000 (d) ` 21,000 Answer : (a) Chapter-6: Preparation of Final Accounts of Sole Proprietors

[20] On 31st March, 2011, the books of Ajit showed a net profit of ` 84,000. Later it was discovered that the closing stock was over valued, by ` 4,000 and the discount received of ` 1,500 was treated as an expense. What was the correct net profit of Ajit ?

(a) ` 81,500 (b) ` 83,000 (c) ` 89,500 (d) ` 91,000 Answer : (b) [21] Mr. X forgot to record following transactions while preparing his final account for

the year ended 31st March, 2011 :

Outstanding Expenses ` 20,000 Prepaid Insurance ` 2,000 Interest receivable on investment (accrued) ` 3,000 Drawings ` 6,000 The total change in his profit for the year after recording the above would be :


(a) Decreased by ` 21,000 (b) Increased by ` 21,000 (c) Increased by ` 15,000 (d) Decreased by ` 15,000 Answer : (d) [22] From the following information, calculate the cost of raw material consumed : (`) Purchase of raw material 80,000 Opening Stock :- Raw Material 5,000 Work in progress 12,000 Finished goods 8,500 Closing Stock :- Raw Material 6,350 Work in Progress 12,400 Finished goods 4,500 (a) ` 82,500 (b) ` 78,250 (c) ` 78,650 (d) ` 82,250 Answer : (c) [23] Return Inwards are deducted from _________ : (a) Purchases (b) Sales (c) Return Outwards (d) Closing Stock Answer : (b) [24] An increase in the provision for doubtful debts would result in _________ in

working capital and _________ in net profit : (a) Increase, Decrease (b) Increase, Increase (c) Decrease, Increase (d) Decrease, Decrease Answer : (d) [25] A company has paid salary amounting to ` 50,000 to Mr. A on March 25, 2011.

Mr. A deposited the cheque of salary on April 03, 2011 in his bank account.

What adjustment should be made by company at the time of preparing final

account :

(a) No entry will be passed

(b) Bank A/c, Dr

To Outstanding Salary A/c


(c) Salary A/c Dr

To Outstanding Salary A/c

(d) Bank A/c Dr

To A’s A/c

Answer : (c)

[26] The opening stock is understated by ` 20,000 and closing stock is overstated by

` 25,000. The net profit for the current year is _________ by ______ :

(a) Overstated by ` 5,000

(b) Overstated by ` 45,000

(c) Understated by ` 5,000

(d) Understated by ` 45,000

Answer : (b)

[27] The following details relate to a trading concern for the year 2010. Opening

stock ` 4,000. Purchases and Sales during the year ` 36,000 and ` 35,000

respectively. Profit on Sales is 20% uniformity throughout the year. 50% of the

closing stock was found to be obsolete and estimated to fetch only 50% of cost.

The value for the closing stock at the end of the year will be :

(a) ` 9,000

(b) ` 12,000

(c) ` 6,000

(d) ` 10,500

Answer : (a)

Chapter-7: Accounting for Special Transactions

Unit-1: Consignment

[28] Radhika sent goods worth ` 1,20,000 on consignment to Sarika. 1/8th of the

goods were lost in transit. No claim was receivable for the same. Sarika sold 2/3

of the goods received for ` 1,00,000. What was the cost of the goods lying with

Sarika?

(a) ` 29,000

(b) ` 35,000

(c) ` 29,167

(d) ` 40,000

Answer : (b)

[29] When the del-credere commission is allowed by consignor to consignee,

abnormal loss will be borne by :

(a) Consignor (b) Consignee (c) Both, consignor and consignee in equal proportion. (d) Neither consignor nor consignee.


Answer : (a)

[30] 1000 kgs of vegetables were consigned at ` 18,000 and freight expenses

amounted to ` 4,000. During the transit there is a normal loss of 40 kg. If 80 kgs were sold, what will be the value of stock at the end?

(a) ` 2,880

(b) ` 3,000

(c) ` 3,520

(d) ` 3,667 Answer : (d)

[31] Mr. X paid commission to his consignee Y, ` 25,000 which was @ 5% on sales affected by him. Goods were sold by Mr. Y at a profit of 25% on cost. Stock in

hand on 31/3/11 is ` 50,000 at cost. So, cost of goods sent by Mr. X is :

(a) ` 4,50,000

(b) ` 75,000

(c) ` 5,50,000

(d) ` 6,00,000 Answer : (a) [32] Overriding commission is given by consignor to consignee in order to

_________ : (a) To encourage the consignee to overcome bad-debts (b) To encourage the consignee to promote the sales at a price higher than the

specified selling price (c) To sell the goods sent by consignor (d) To sell and take care of goods sent by consignor to consignee Answer : (b) [33] A loss which is natural and unavoidable is called : (a) Abnormal Loss (b) Normal Loss (c) Contingent Loss (d) None of these. Answer : (b) [34] Periodical statement sent by consignee to consignor is known as _________ : (a) Performa invoice (b) Account sale

(c) Bill of exchange

(d) Hundi.

Answer : (b)

Unit-2: Joint Ventures

[35] In case of Joint Venture, a minor :

(a) Can be a co-venturer for the benefit of the venture.


(b) Can be a co-venturer if all other co-venturers agree.

(c) Can be a co-venturer if permitted by the competent authority.

(d) Cannot be a co-venturer

Answer : (d)

Unit-3: Bills of Exchange and Promissory Notes

[36] In case of “Bill at Sight”, days of grace are :

(a) One day

(b) Two days

(c) Three days

(d) Nil

Answer : (d)

[37] On 15/4/2011, Ram draws a bill on Shyam. Shyam accepts the same for 1

Month and Ram endorses the bill to Vijay. What will be the entry regarding

endorsement in the books of Shyam?

(a) Vijay A/c Dr

To Bills Payable A/c

(b) Bills Payable A/c Dr

To Vijay’s Ac

(c) Ram’s A/c Dr

To Bills Payable A/c

(d) No entry will be passed

Answer : (d)

[38] When a bill is endorsed, credit is given to :

(a) Bill Receivable A/c

(b) Endorsee’s A/c

(c) Acceptor’s A/c

(d) None of the above

Answer : (a)

Unit-4: Sale of Goods on Approval or Return Basis

[39] A trader sends out goods is customer on approval and credits them to sales amount. On 31st March, 2011, sundry debtors includes an amount of ` 5,000 for goods sent on approval basis for which no confirmation was received till year end. These goods were sent out at a cost +25%. Physical stock taken on 31st March, 2011 amounted to ` 50,000. The amount of stock appearing is Balance Sheet would be :

(a) ` 45,000 (b) ` 50,000 (c) ` 53,750 (d) ` 54,000


Answer : (d)

[40] Cash Sale of ` 50,000, Credit Sale of ` 3,50,000, Sales Return ` 25,000 out of Sales of ` 3,50,000, goods costing ` 40,000 were sent on approval for ` 50,000 which has not been approved yet. Calculate the net sales :

(a) ` 3,35,000 (b) ` 3,75,000 (c) ` 3,40,000

(d) ` 3,25,000

Answer : (d)

Chapter-8: Partnership

Unit-1: Introduction to Partnership Accounts

[41] X and Y are partners. Given below is detail of items appearing in the Appropriation Account.

Particulars X Y (` ) (` ) Interest on capital 1,600 1,800 Interest on drawing 500 400 Remuneration to partners 2,000 3,000 Share of profit after Appropriation 8,000 12,000 What was the net profit before appropriation ? (a) ` 17,500 (b) ` 22,500 (c) ` 27,500 (d) ` 29,300 Answer : (c) [42] Subject to contract between the partners, interest on capital is to be provided out

of profits only. In case of insufficient profits (i.e. net profit less than the amount of interest on capital), the amount of profit is distributed :

(a) In equal ratio (b) In profit sharing ratio (c) In capital ratio (d) Restricted to 6% of partner’s capital Answer : (c)

Unit-2: Treatment of Goodwill in Partnership Accounts

[43] Sacrificing ratio is used to distribute _________ on admission of a new partner : (a) Goodwill (b) Reserves (c) Profits on revaluation (d) Unrecorded assets Answer : (a)


[44] On the admission of a new partner, it is decided that goodwill of the firm be valued at 2 years purchase of average profits for the past 3 years which amounted to ` 8,620, ` 9,430 and ` 11,800 respectively. The value of goodwill is :

(a) ` 19,500 (b) ` 19,900 (c) ` 10,000 (d) None of the above Answer : (b) [45] X and Y are partners sharing profits and losses in the ratio of 3 : 1. They admit Z

as a partner who pays ` 4,000 a goodwill. The new profit sharing ratio being 2 : 1 : 1. The goodwill will be credited to :

(a) Y’s capital A/c by ` 4,000 (b) X’s capital A/c by ` 4,000 (c) X’s capital A/c by ` 3,000 and Y’s capital A/c by ` 1,000 (d) No adjustment will be made Answer : (b) [46] A and B together are sharing 2/3rd of the profits of the firm. C and D are sharing

profits in the ratio of 3 : 2. Find the ratio of A : B : C : D : (a) 4 : 3 : 3 : 2 (b) 7 : 7 : 6 : 4 (c) 2.5 : 2.5 : 3 : 2 (d) 5 : 5 : 3 : 2 Answer : (d) Unit-3: Admission of New Partner [47] A and B are partners sharing profit and loss in the ratio of 5 : 3. C is admitted

and on the date of admission brings in cash ` 70,000 as capital and ` 48,000 as goodwill. New profit sharing ratio of A, B and C are 7 : 5 : 4. The sacrificing ratio amongst A and B would be :

(a) 1 : 3 (b) 3 : 1 (c) 5 : 4 (d) 3 : 5 Answer : (b)

Unit-4: Retirement of a Partner

[48] A, B and C are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 respectively. The balance of capital is ` 50,000 for A and B each and ` 40,000 for C. B declares to retire from the firm. The goodwill of the firm is valued at ` 30,000 and profit on revaluation of assets is ` 5,000. The firm also has a balance in the reserve account for ` 15,000 on that date. What amount will be payable to B?


(a) ` 15,000 (b) ` 55,000 (c) ` 65,000 (d) ` 75,000

Answer : (c)

Chapter-9: Company Accounts

Unit-1: Introduction to Company Accounts

[49] Final accounts of a company are prepared according to _________ of Companies Act, 1956 :

(a) Schedule IV (b) Schedule V (c) Schedule VI (d) Schedule VII

Answer : (c)

[50] A Public Co. can have a minimum of _________ members : (a) Any number (b) Seven (c) Twenty (d) Fifty.

Answer : (b)

Unit-2: Issue, Forfeiture and Re-Issue of Shares

[51] X Limited allotted 25,000 equity shares to the applicants of 36,000 shares for ` 10 each on pro-rata basis. A applied for 1,800 equity shares. Shares allotted to him are _________ and he had paid an application money of ` 5 per share. _______ is the excess amount received that can be utilized towards allotment money :

(a) 1500 shares, ` 1,500 (b) 1350 shares, ` 2,250 (c) 1250 shares, ` 2,750 (d) 1050 shares, ` 3,750

Answer : (c)

[52] A company forfeited 1000 shares of ` 10 each on which ` 6,000 have been received. Forfeited shares were re-issued for ` 7,000. The amount of capital reserve would be:

(a) ` 1,000 (b) ` 3,000 (c) ` 4,000 (d) ` 6,000

Answer : (b)

[53] According to Companies Act, 1956, interest on calls in arrear and calls in

advance can be charged and provided, the maximum rates for which are :


(a) 4% p.a. and 5% p.a.

(b) 5% p.a. and 4% p.a.

(c) 6% p.a. and 7% p.a.

(d) 5% p.a. and 6% p.a.

Answer : (d)

[54] A company is permitted to issue shares at a discount if at least _________ must

have elapsed since the company was entitled to commence the business :

(a) Three years

(b) Two years

(c) One year

(d) Six months

Answer : (c)

[55] Discount on issue of shares is presented on the _________ side of the

company’s balance sheet under the head _________ :

(a) Assets, Fixed Assets

(b) Assets, Current Assets

(c) Liabilities, Current Liabilities

(d) Assets, Miscellaneous Expenditure

Answer : (d)

[56] Calls in arrear is shown in Balance Sheet as _________ :

(a) Deduction from called up capital

(b) Addition to paid up capital

(c) Addition to issued capital

(d) Deduction from issued capital

Answer : (a)

[57] When equity shares are issued to the promoters in consideration of their services provided by them, _________ A/c should be debited :

(a) Equity Share Capital (b) General Reserve (c) Promoters (d) Goodwill

Answer : (d)

[58] Krishi Ltd. issued 1,50,000 shares of ` 100 each at a discount of 10%. Mr Ram to whom 300 shares were allotted, failed to pay the final call of ` 30 per share and hence, all his shares were forfeited. At the time of forfeiture of shares, what amount will be transferred to shares forfeited account?

(a) ` 9,000 (b) ` 18,000 (c) ` 21,000 (d) ` 27,000


Answer : (b)

[59] Discount on re-issue of shares forfeited cannot exceed the _______ : (a) 50% of face value (b) Face value (c) 50% of amount forfeited (d) Amount forfeited

Answer : (d)

Unit-3: Redemption of Preference Shares

[60] X Ltd had 5,000 12% Redeemable Preference Shares of ` 100 each. The company decided to redeem them by issuing equity shares of ` 100 each @ a premium of 25%.

The member of equity shares to be issued are : (a) 4000 shares (b) 5000 shares (c) 4480 shares (d) 5600 shares Answer : (b)

Paper – 2 : Mercantile Laws

Chapter-1: The Indian Contract Act, 1872

Unit-1: Nature of Contracts

[1] An agreement to put a fire on a person’s car is a ____________. (a) Legal (b) Voidable (c) Valid (d) Illegal. Answer : (d) [2] A specific offer can be accepted by ____________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree. Answer : (c) [3] Implied contract even if not in writing or express words is perfectly

____________ if all the conditions are satisfied :- (a) Void (b) voidable (c) Valid (d) Illegal. Answer : (c)


[4] When an offer is made to the world at large, it is ____________ offer (a) Counter offer (b) Special offer (c) General offer (d) None of the above. Answer : (c) [5] In case of illegal agreements the collateral transactions are:- (a) Valid (b) Void (c) Voidable (d) None of the above. Answer : (b) [6] A contract is an agreement :- (a) Made by the parties who are competent to contract (b) Not enforceable by law (c) Enforceable at the option of the aggrieved party (d) Made without free consent and consideration. Answer : (a) Unit-2: Consideration [7] Which of the following statements is true? (a) There can be a stranger to a consideration (b) There can be a stranger to a contract (c) There can be a stranger to a consideration and contract (d) All of the above. Answer : (a) Unit-3: Other Essential Elements of a Valid Contract [8] ____________ involves physical threat

(a) Undue Influence

(b) Fraud

(c) Coercion


Answer : (c)

[9] Fraud may be committed by

(a) A party to the contract

(b) An agent of the party to the contract

(c) Any person in connivance with a party to contract

(d) Any of the above.

Answer : (d) [10] An agreement restraining a person from exercising a trade is (a) Valid (b) Void (c) Voidable


(d) Illegal. Answer : (b) [11] X promises to procure employment to Y and Y promises to pay ` 50,000 to X.

The agreement is ____________. (a) Valid (b) Voidable (c) Void (d) None of the above. Answer : (c) Unit-4: Performance of Contract [12] The process by which one person succeeds rights interest and benefits and

obligations of another person is termed as:- (a) Assignment (b) Succession (c) Remission (d) Recission. Answer : (b) [13] Brown promises to sell his house to Crown for ` 20,00,000. Later on both of

them agreed not to execute the deal; this is known as :- (a) Novation (b) Remission (c) Recession (d) Alteration. Answer : (c) [14] A agrees to pay ` 10,000 to B after 2 years. During this period B dies. After 2

years, B’s son C claims the amount from A. C’s claim is ____________. (a) Invalid (b) Enforceable (c) Not enforceable (d) Unlawful. Answer : (b) [15] Supervening impossibility is related to :- (a) Frustration (b) Quid Pro Quo (c) Privity of contract (d) None of the above. Answer : (a) Unit-5: Breach of Contract

[16] A fair and genuine pre-estimated sum of damages likely to result due to breach of contract is termed as

(a) Liquidated Damages (b) Ordinary damages


(c) Penalty (d) None of the above. Answer : (a) [17] Exemplary damages are otherwise called as ____________. (a) Punitive damages (b) Vindictive damages (c) Both (a) and (b) (d) None of the above. Answer : (b) [18] In case of deterioration caused due to delay in transit the damages can be

recovered, even without any notice, from ____________. (a) Carrier (b) Seller (c) Buyer (d) All the above. Answer : (a) [19] Breach of contract on the due date is known as :- (a) Anticipatory Breach (b) Actual Breach (c) Both ‘A’ and ‘B’ (d) None of the above. Answer : (b) Unit-6: Contingent and Quasi – Contracts

[20] A principle which does not allows a person to retain unjust benefit at expense of another is known as ____________.

(a) Quasi contract (b) Implied contract (c) Unenforceable contract (d) Voidable contract. Answer : (a)

Chapter-2: The Sale of Goods Act, 1930

Unit-1: Formation of Contract of Sale

[21] ____________ are goods which are already available and which are physically present with the seller

(a) Present goods (b) Existing goods

(c) Future goods (d) Contingent goods Answer : (b) [22] Under the Sale of Goods Act, 1930, delivery means voluntary transfer of

___________ from one party to the other.


(a) Property (b) Party (c) Possession (d) Place Answer : (c) [23] In a contract of sale if no price has been fixed by the parties, then the buyer is

required to pay :- (a) Maximum market price (b) Lowest market price (c) Reasonable price (d) Average price of the year

Answer : (c)

Unit-2: Conditions and Warranties

[24] In case of a breach of a condition in a contract of sale the aggrieved party

(a) Has to pay the price

(b) Can claim only damages

(c) Can refuse to accept the goods

(d) Cannot refuse to accept the goods.

Answer : (c)

Unit-3: Transfer of Ownership and Delivery of Goods

[25] When there is a sale for unascertained goods under the Sale of Goods Act,

1930

The property in the goods does not pass to the buyer until the goods are

____________.

(a) Appropriated

(b) Ascertained

(c) Identified

(d) Set apart

Answer : (b)

[26] In a contract of sale of goods, as per Sale of Goods Act, 1930, physical delivery of goods is not an essential element.

(a) False (b) Partly true (c) True

(d) None of the above. Answer : (c) Unit-4: Unpaid Seller [27] An auctioneer is :- (a) A seller (b) An unpaid seller


(c) An agent governed by law of agency (d) The principal of the seller Answer : (c) [28] At an auction sale, X makes the highest bid for a flower vase. The auctioneer

strikes the table with hammer on which flower vase was kept and it fell down and broke into several pieces. In this case, the loss will fall on ____________.

(a) The auctioneer (b) The bidder, X (c) Equally on X and the auctioneer (d) None of the above. Answer : (a) Chapter-3: The Indian Partnership Act, 1932 Unit-1: General Nature of a Partnership [29] A public company can have a maximum of ____________ member (a) Unlimited (b) 50 (c) 20 (d) 10 Answer : (a) [30] Which of the following persons may be admitted as a partner in a partnership

firm :- (a) An illiterate person of 19 years (b) A person of unsound mind (c) A convict undergoing sentence for a criminal offence (d) An insolvent person. Answer : (a) Unit-2: Relations of Partners

[31] In case of ____________, the continuing guarantee given to the partnership in

respect to the transactions of the firm, is revoked for the future transactions

(a) Dissolution of firm

(b) Insolvency of a partner

(c) Change in constitution of the firm


Answer : (c)

[32] When a partner in a firm is adjudicated as insolvent as per the Indian

partnership Act, 1932, he ceases to be a partner :-

(a) On the date of order of adjudication

(b) On the date of dissolution of the firm

(c) The date of intimation of the insolvency of the firm

(d) The date decided by the partnership firm


Answer : (a)

[33] A firm on the expulsion of a partner is ____________ under Indian Partnership

Act, 1932.

(a) Reconstituted

(b) Reorganised

(c) Dissolved

(d) Deregistered.

Answer : (a)

[34] An act of a partner for acquiring an immovable property on behalf of the firm is

within the provision of ____________ authority under the Indian Partnership Act,

1932

(a) Implied

(b) Semi Implied

(c) Restricted

(d) Express.

Answer : (d)

[35] According to the Indian Partnership Act, 1932, the term act of the firm means an

act or omission by ____________ which gives an enforceable right to or against

the firm :

(a) Any partner

(b) All the partner

(c) Agent of the firm

(d) Any of the above.

Answer : (d)

Unit-3: Registration & Dissolution of a Firm

[36] Application for registration of a Partnership Firm should be signed by

____________.

(a) 2/3rd of the total number of partners

(b) At least 3/4th of the partners

(c) Any one of the partners

(d) All the partners.

Answer : (d)

[37] When all the partners except one become insolvent, the firm is ____________.

(a) Compulsorily dissolved

(b) Not compulsorily dissolved

(c) Reconstituted

(d) Renewed.

Answer : (a)


[38] XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each

in the profits of the firm. According to X, Y and Z activities of A are not in the

interest of the partnership and thus want to expel A from the firm. Advise

whether :-

(a) X, Y and Z should seek retirement from the firm

(b) No, X, Y and Z cannot expel A from the firm

(c) Yes, X, Y and Z can expel A from the firm


Answer : (b)

[39] The surplus remaining after settlement of debts and liabilities of the firm in case

of dissolution shall be ____________.

(a) Credited to Central Revenue Account of the Government of India

(b) Credited to Reserve Bank of India

(c) Distributed among the partner equally

(d) Distributed among the partner according to their profit sharing ratio.

Answer : (d)

[40] An unregistered firm may institute a suit if the value of the suit does not exceed:-

(a) ` 100

(b) ` 1,000

(c) ` 10,000

(d) ` 1,00,000.

Answer : (a)

Paper – 3 : General Economics Chapter-1: Itroduction to Micro Economics [1] A Capitalist Economy follows the policy of :- (a) Laissez faire (b) Regulated markets (c) Promoting public sector (d) None of the above. Answer : (a) [2] ‘Economics is the science of choice making’ it implies:- (a) No choice is to be made (b) Choice to be made between alternative uses (c) Choice to be made between means and ends (d) None of the above. Answer : (b)


[3] Which of the following is a part of the subject matter of macro economics? (a) Study of firms (b) Aggregate profits of a firm (c) Market demand for a product (d) Net national product. Answer : (d) [4] The usual shape of production possibility curve is _______towards the origin. (a) Convex (b) Concave (c) Straight line (d) A rectangular hyperbola. Answer : (b) [5] What will be the shape of Production Possibility Curve (PPC) when marginal

opportunity cost is constant? (a) Concave (b) Convex (c) Backward bending (d) Straight line Answer : (d) [6] A capitalist economy is by and large ___________ (a) A closed economy (b) A free market economy (c) A centrally controlled economy (d) An economy in which a government neither collects any taxes nor incurs

any expenditure. Answer : (b)

Chapter-2: Theory of Demand and Supply

Unit-1: Theory of Demand [7] A 10% increase in the price of tea results is a 8% increase in the demand for

coffee. Cross elasticity of demand will be : (a) 0.80 (b) 1.25 (c) 1.50 (d) 1.80. Answer : (a) [8] When the total expenditure incurred by the consumers on a commodity due to a

change is its price remains the same, then the elasticity of demand for that commodity will be:-

(a) Zero (b) One (c) more than one


(d) Less than one Answer : (b) Unit-2: Theory of Consumer Behaviour [9] The convexity of indifference curve is due to ___________.

(a) Declining marginal rate of substitution (b) Rising marginal rate of substitution (c) Constant marginal rate of substitution

(d) None of the above. Answer : (a) Unit-3: Theory of Supply [10] At a price of ` 25 per kg, the supply of a commodity is 10,000 kg per week. An

increase in its price to ` 30 per kg, increases the supply of the commodity to 12,000 kg per week. The elasticity of supply will be :-

(a) 0.75 (b) 1.00 (c) 1.50 (d) 1.75 Answer : (b) Chapter-3: Theory of Production and Cost Unit-1: Theory of Production [11] Which of the following is not a characteristics of Land? (a) It is a free gift of nature (b) It is a mobile factor of production (c) It is limited in quantity (d) Its productive power is indestructible. Answer : (b) [12] A production function is defined as the relationship between _______.

(a) The quantity of physical inputs and physical output of a firm

(b) Stock of inputs and stock of output

(c) Prices of inputs and output

(d) Price and supply of a firm.

Answer : (a)

[13] Production activity in the short period is analysed with the help of

(a) Law of variable proportion

(b) Laws of returns to scale

(c) Both (a) & (b)


Answer : (a)

Unit-2: Theory of Cost

[14] A firm’s total cost is ` 200 at 5 units of output and ` 220 at 6 units of output. The

marginal cost of producing 6th unit of output will be ___________.


(a) 20

(b) 120

(c) 220

(d) 320.

Answer : (a)

[15] Consider the following data

Units of output : 0 1 2 3 4

Total Cost : 25 45 60 85 105

The Average Variable Cost (AVC) for an output of 4 units will be :-

(a) ` 20

(b) ` 30

(c) ` 25

(d) ` 26

Answer : (a)

[16] The change in total cost due to one unit change in the output is called

___________ cost.

(a) Marginal

(b) Average

(c) Average variable

(d) Average fixed

Answer : (a)

[17] When AC curve is rising, the MC curve must be ___________ to it

(a) Equal (b) Above (c) Below (d) Parallel. Answer : (b) [18] The Average fixed cost for producing on output of 6 units of a product by a firm

is ` 30. The same cost for producing an output of 4 units will be ` ___________. (a) 50 (b) 45 (c) 25 (d) 20 Answer : (b) Chapter-4: Market Unit-3: Price and Output Determination

[19] A perfect market is characterised by :- (a) Existence of large number of buyers and sellers (b) Homogenous products (c) Perfect knowledge of the market



Answer : (d)

[20] Which of the following is not a feature of oligopoly market? (a) Interdependence of the firms in decision making (b) Price rigidity (c) Group behaviour (d) Existence of large number of firms.

Answer : (d)

[21] A monopolist can fix: (a) Both price and output (b) Either price or output (c) Neither price or output (d) None of the above.

Answer : (a)

[22] In a perfectly competitive market, the demand curve of a firm is :- (a) Elastic (b) Perfectly elastic (c) Inelastic (d) Perfectly inelastic

Answer : (b)

[23] In a competitive market, if price exceeds Average Variable Cost (AVC) but remains less than Average Cost (AC) at the equilibrium, the firm is :

(a) Making a profit (b) Planning to quit (c) Experiencing loss but should continue production (d) Experiencing loss but should discontinue production. Answer : (c)

Chapter-5: Indian Economy: A Profile Unit-2: Role of Different Sectors [24] Who is the chairman of planning commission? (a) Prime minister (b) Finance minister (c) Minister of planning (d) Secretary, Ministry of Planning. Answer : (a) [25] The main object of Regional Rural Banks is to provide credit to : (a) Rural people (b) Weaker sections of the society (c) Weaker sections of the rural population (d) All the people of society. Answer : (a)


[26] Maximum contribution in India’s national income is from (a) Agriculture sector (b) Industrial sector (c) Service sector (d) None of the above. Answer : (c) [27] ___________ provides crop storage facility in India (a) IDBI (b) FCI (c) ICICI (d) IFCI Answer : (b) [28] Annual production of 250 million tones of food grains is a goal of (a) National Nutrition policy, 1993 (b) Applied Nutrition project (c) Special Nutrition programme (d) Mid Day Meal programme. Answer : (a) [29] Commercial Banks are the part of (a) Primary sector (b) Secondary sector (c) Tertiary sector (d) None of the above.

Answer : (c)

Unit-3: National Income

[30] GDP at Factor Cost = GDP at Market Price minus indirect taxes plus ___________.

(a) Income from abroad (b) Subsidies (c) Transfer payments (d) Operating surplus.

Answer : (b)

Unit-4: Tax System

[31] Corporate tax is levied on the incomes of ___________. (a) Registered companies and corporations (b) Individuals and HUFs (c) Both (a) and (b) (d) None of the above.

Answer : (a)

[32] State which of the following income is wholly exempt from the income tax? (a) Income from salary


(b) Income from house property (c) Income from business and profession

(d) Income from agriculture.

Answer : (d)

Chapter-6: Aspects of Indian Economy

Unit-1: Population

[33] Which year is known as ‘year of great divide’ for India’s population. (a) 1921 (b) 1951 (c) 1991 (d) 1981

Answer : (a)

[34] The rate of economic development is (a) Rate of capital formation (b) Technological progress (c) Capital output ratio (d) All of the above.

Answer : (d)

Unit-2: Poverty

[35] In which plan period, the Integrated Rural Development Programme (IRDP) was started in India

(a) Fifth (b) Sixth (c) Seventh (d) Eighth.

Answer : (a)

[36] Which of the following cannot remove poverty in India? (a) Population control (b) Increase in production (c) Equitable distribution (d) Government subsidies.

Answer : (d)

Unit-3: Unemployment

[37] Disguised unemployment is a common phenomenon in India especially in : (a) Industrial sector (b) Agriculture sector (c) Service sector (d) All of the above.

Answer : (b)

Unit-4: Infrastructural Challenges

[38] In order to provide access to electricity to all villages ______was launched


(a) Mahatama Gandhi Grameen Vidutikaran Programme. (b) Indira Gandhi Grameen Viduti-karan Programme. (c) Rajiv Gandhi Grameen Viduti-karan Programme. (d) Sonia Gandhi Grameen Viduti-karan Programme.

Answer : (c)

[39] Which is regulatory authority for telecom in India? (a) BSNL (b) MTNL (c) SEBI (d) TRAI

Answer : (d)

Unit-7: Balance of Payment

[40] Deficit budget is linked with : (a) Deficit is revenue account (b) Deficit is capital account (c) Both (a) and (b) (d) None of the above.

Answer : (c)

[41] A systematic record of all the transactions between one country and the rest of the world is -

(a) Balance of trade (b) Balance of transaction (c) Budget (d) Balance of payment

Answer : (d) [42] A balance of payment deficit can be removed through (a) Devaluation of currency (b) Vigorous export promotion (c) Import substitution (d) All of the above. Answer : (d) Unit-8: External Debt [43] Economic development of a country cannot be achieved without ___________ (a) Foreign aid (b) Profit making (c) Domestic savings (d) External borrowing. Answer : (c) Chapter-7: Economic Reforms in India Unit-1: Economic Reforms in India [44] Devaluation of currency stands for : (a) Increasing the value of internal currency in terms of foreign currency


(b) Reducing the value of internal currency in terms of foreign currency (c) Keeping the value of internal currency constant in terms of foreign currency (d) None of the above. Answer : (b) [45] FRBM Act stands for :- (a) Foreign Regulation and Budget Management Act (b) Fiscal Responsibility and Budget Management Act (c) Funds Reallocation and Budget management Act (d) Finance Regulation and Bond Management Act. Answer : (b) Unit-3: Globalisation [46] Globalisation is a process of increasing economic integration among

___________. (a) Nations (b) Trade organisations (c) Social institutions (d) Cultural forums. Answer : (a) [47] Which of the following organisation was replaced by World Trade Organisation

in 1995. (a) General Agreement on Trade and Tariff (b) International Monetary Fund (c) World Bank (d) OPEC

Answer : (a)

[48] As a part of globalisation process tariff rate is ___________. (a) Raised (b) Lowered (c) Not Changed (d) Abolished. Answer : (b) Chapter-8: Money and Banking Unit-3: Reserve Bank of India (RBI) [49] ___________ is the rate at which the Central Bank discounts the bill of

Commercial Banks. (a) Bank rate (b) Interest rate (c) Growth rate (d) None of the above. Answer : (a) [50] ___________ control affect indiscriminately all sectors of the economy. (a) Selective control


(b) Quantitative (c) Margin Requirements (d) None of the above. Answer : (b)

Paper – 4 : Quantitative Aptitude

Chapter-1: Ratio and Proportion, Indices and Logarithm

[1] Find the value of x, if x (x)a = (xa)x

(a) 3 (b) 4 (c) 2 (d) 6 Answer : (b) [2] Which of the following is true.

If (a) log (ab + bc + ca) = abc

(b)

(c) log (abc) = 0

(d) log (a + b + c) = 0

Answer : (d)

[3] Find two numbers such that mean proportional between them is 18 and third

proportional between them is 144

(a) 9, 36

(b) 8, 32

(c) 7, 28

(d) 6, 24

Answer : (a)

Chapter-2: Equations

[4] If log10 5 + log10 (5x +1) = log10 (x + 5) + 1 then, the value of x = _________. (a) 7 (b) 3 (c) 5 (d) 10 Answer : (b) [5] If | x – 2 | + | x– 3 | = 7 then, ‘x’ will be equal to (a) 6 (b) –1

abccabcab

1111

abccba

111log


(c) 6 and – 1 (d) None of the above. Answer : (c)

[6] Roots of equation 2x2 + 3x + 7=0 are and . The value of –1 + –1 is (a) 2 (b) 3/7 (c) 7/2 (d) - 19/14 Answer : (d)

[7] If the point (k, 3) is at a distance of 5 units from the points (2, k), the value of

‘k’ is (a) 1 (b) 4 (c) 1 and 4 both (d) None of these. Answer : (c) [8] The quadratic equation x2 – 2kx + 16 = 0 will have equal roots when the value of

‘k’ is ________. (a) ± 1 (b) ± 2 (c) ± 3 (d) ± 4 Answer : (d) Chapter-3: Inequalities

[9] On the average, experienced person does 5 units of work while a fresh one 3 units work daily but the employer have to maintain the output of at least 30 units of work per day. The situation can be expressed as.

(a) 5x + 3y 30 (b) 5x + 3y 30 (c) 5x + 3y = 30 (d) None of these. Answer : (b) Chapter-4: Simple and Compound Interest Including Annuity Applications

[10] How much investment is required to yield an Annual income of ` 420 at 7% p.a.

Simple interest.

(a) ` 6,000

(b) ` 6,420

(c) ` 5,580

(d) ` 5,000 Answer : (a)


[11] Mr. x invests ` 90,500 in post office at 7.5% p.a. simple interest. While calculating the rate was wrongly taken as 5.7% p.a. The difference in amounts

at maturity is ` 9,774. Find the period for which the sum was invested (a) 7 years (b) 5.8 years (c) 6 years

(d) 8 years

Answer : (c) Chapter-5: Basic Concepts of Permutations and Combinations [12] A man has 3 sons and 6 schools within his reach. In how many ways, he can

send them to school, if no two of his sons are to read in the same school? (a) 6P2 (b) 6P3 (c) 63 (d) 36 Answer : (b) [13] How many permutations can be formed from the letters of the word

“DRAUGHT”, if both vowels many not be separated ? (a) 720 (b) 1,440 (c) 140 (d) 1,000 Answer : (b) [14] If 13C6 + 2 13C5 + 13C4 = 15Cx then, x = ________ (a) 6 (b) 7 (c) 8 (d) 9

Answer : (a)

Chapter-6: Sequence and Series Arithmetic and Geometric Progression

[15] In an A.P., if common difference is 2, Sum of n terms is 49, 7th term is 13 then n = _________.

(a) 0 (b) 5 (c) 7 (d) 13 Answer : (c) [16] The first term of a G.P. where second term is 2 and sum of infinite term is 8 will

be (a) 6 (b) 3


(c) 4 (d) 1 Answer : (c) [17] If the sum of n terms of an A.P be 2n2 + 5n, then its ‘nth’ term is (a) 4n – 2 (b) 3n – 4 (c) 4n + 3 (d) 3n + 4 Answer : (c) Chapter-7: Sets, Functions & Relations [18] For a group of 200 persons, 100 are interested in music, 70 in photography and

40 in swimming, Further more 40 are interested in both music and photography, 30 in both music and swimming, 20 in photography and swimming and 10 in all the three. How many are interested in photography but not in music and swimming?

(a) 30 (b) 15 (c) 25 (d) 20 Answer : (d) [19] If ƒ: R R is a function, defined by ƒ(x) = 10x – 7, if g(x) = ƒ-1(x), then g(x) is equal to (a)

(b)

(c)

(d) Answer : (c)

[20] The number of elements in range of constant function is

(a) One

(b) Zero

(c) Infinite

(d) Indetermined

Answer : (c)

Chapter-8: Limits and Continuity Intuitive Approach

710

1

x

710

1

x

10

7x

10

7x


[21] is equal to

(a) 1/3

(b) -1/3

(c) 1

(d) None of these.

Answer : (b)

Chapter-9: Basic Concepts of Differential and Integral Calculus

[22] dxxxx ... 532 23 __________

(a) cxxx

)(log

..

720

532 23

(b) cxxx

)(log

..

960

532 23

(c) cxxx

)(log

..

180

532 23

(d) cxxx

)(log

..

90

532 23

Answer : (b)

[23] For the functions y = x3 − 3x, the value of 2

2

dx

ydat which

dx

dyis zero, is

(a) ± 1

(b) ± 3

(c) ± 6

(d) None of these.

Answer : (c)

[24] The equation of the tangent to the curve, ƒ = x2 – 3x + 2, at the point (2, 7) is –

(a) y = 2x – 13

(b) y = 10x

(c) y = 10x – 13

(d) y = 10

Answer : (c)

[25] If

2

2

53

45

x

xy log , then

dx

dy= __________

)(

)(

572

121

xx

xLimx


(a) xx 53

10

54

8

(b) (4x2 – 5) – (3 + 5x2)

(c) 22 53

10

54

8

x

x

x

x

(d) 8x – 10

Answer : (c)

Chapter-10: Statistical Description of Data

[26] What is a exclusive series?

(a) In which both upper and lower limit are not included in class frequency.

(b) In which lower limit is not included in class frequency.

(c) In which upper limit is not included in class frequency.


Answer : (c)

Chapter-11: Measures of Central Tendency and Dispersion

[27] If Standard deviation of x is σ, then Standard deviation of ax +b, where a, b and

c (c ± 0) are arbitrary constants, will be

(a) σ

(b) c

ba

(c) .c

a

(d) c

a

Answer (d) [28] The mean salary of a group of 50 persons is ` 5,850. Later on it is discovered

that the salary of one employee has been wrongly taken as ` 8,000 instead of ` 7,800. The corrected mean salary is

(a) ` 5,854 (b) ` 5,846 (c) ` 5,650 (d) None of the above. Answer : (b) [29] Which of the following measures of dispersion is used for calculating the

consistency between two series? (a) Quartile deviation (b) Standard Deviation


(c) Coefficient of variation (d) None of the above. Answer : (c) [30] If the mode of a data is 18 and mean is 24, then median is — (a) 18 (b) 24 (c) 22 (d) 21 Answer (c) [31] For data on frequency distribution of weights: 70, 73, 49, 57, 56, 44, 56, 71, 65, 62, 60, 50, 55, 49, 63 and 45 If we assume class length as 5, the number of class intervals would be (a) 5 (b) 6 (c) 7 (d) 8 Answer : (c) [32] The point of intersection of the “less than” and “more than” ogives correspond to (a) Mean (b) Mode (c) Median (d) 10th Percentile Answer : (c) [33] A man travels from Agra to Gwalior at an average speed of 30 km per hour and

back at an average speed of 60 km per hour. What is his average speed? (a) 38 km per hour (b) 40 km per hour (c) 45 km per hour (d) 35 km per hour

Answer : (b)

Chapter-12: Correlation and Regression

[34] In Spearman’s Correlation Coefficient, the sum of the differences of ranks between two variables shall be _________.

(a) 0 (b) 1 (c) 1 (d) None of the above. Answer : (d) [35] For certain x and y series which are correlated, the two lines of regression are 5x – 6y + 9 = 0 15x – 8y –130 = 0


The correlation coefficient is (a) 4/5 (b) 3/4 (c) 2/3 (d) 1/2 Answer : (c) [36] The Coefficient of correlation between x and y series is 0.38. The linear

relation between x & u and y & v are 3x + 5v = 3 and –8x – 7v = 44, what is the coefficient of correlation between u & v?

(a) 0.38 (b) –0.38 (c) 0.40 (d) None of the above. Answer (b) [37] If y = 18x + 5 is the regression line of y on x value of bxy is (a) 5/18 (b) 18 (c) 5 (d) 1/18

Answer : (d)

Chapter-13: Probability and Expected Value by Mathematical Expectation

[38] Two dice are thrown together. Find the probability of getting a multiple of 2 on

one dice and multiple of 3 on the other.

(a) 2/3

(b) 1/6

(c) 1/3


Answer : (b)

[39] The odds against A solving a certain problem are 4 to 3 and the odds in favour

of B solving the same problem are 7 to 5.

What is the probability that the problem will be solved if they both try ?

(a) 15/21

(b) 16/21

(c) 17/21

(d) 13/21

Answer (b)

[40] Find the expected value of the following probability distribution

x : –20 –10 30 75 80

p(x) : 3/20 1/5 1/2 1/10 1/20

(a) 20.5


(b) 21.5

(c) 22.5

(d) 24.5

Answer : (b)

[41] A bag contains 6 red balls and some blue balls. If the probability of drawing a

blue ball form the bag is twice that of a red ball, find the number of blue balls in

the bag

(a) 10

(b) 12

(c) 14

(d) 16

Answer : (b)

Chapter-14: Theoretical Distributions

[42] In a Normal Distribution

(a) The first and second quartile are equidistant from median

(b) The second and third quartiles are equidistant from the median

(c) The first and third quartiles are equidistant from the median


Answer : (c)

[43] If parameters of a binomial distribution are n and p then, this distribution tends to

a Poisson distribution when

(a) n , p 0

(b) p 0, np = λ

(c) n , np = λ

(d) n , p 0, np = λ

where ‘λ’ is a finite constant

Answer : (d)

[44] If a random variable x follows Poisson distribution such that E(x) = 30, then the

variance of the distribution is

(a) 7

(b) 5

(c) 30

(d) 20

Answer : (c)

[45] In a normal distribution quartile deviation is 6, the standard deviation will be

(a) 4

(b) 9

(c) 7.5

(d) 6


Answer : (b)

Chapter-15: Sampling Theory

[46] Sampling is a tool which helps to know the characteristics of the ________ by

examining only a small part of it.

(a) Population

(b) Data

(c) Sample

(d) All the above.

Answer : (c)

[47] The criteria for an ideal estimator are

(a) Unbiased and minimum variance

(b) Consistency and efficiency

(c) Sufficiency


Answer : (d)

[48] If N, n denote sizes of the population and its factor of finite population, correction

is given by

(a) )/()( 1 NnN

(b) )/)( nNN 1

(c) )/()( nNN 1

(d) )/()( 1 NnN

Answer : (a)

Chapter-16: Index Numbers

[49] If Fisher’s index = 150 and Paasche’s Index = 144, then Laspeyre’s index is _________.

(a) 147 (b) 156.25 (c) 104.17 (d) 138 Answer : (b) [50] Net monthly salary of an employee was ` 3,000. The consumer price index

number in 1985 is 250 with 1980 as base year. If he has to be rightly compensated then the additional dearness allowance to be paid to the employee is:

(a) ` 4,000 (b) ` 4,800 (c) ` 5,500 (d) ` 4,500


Answer : (d)

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