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Accounting for Managers
QUESTION 1. Which book is known as total of debit and credit
Balance sheet
Trial balance
Journal
Ledger
QUESTION 2. What is the equation of gross profit
Opening stock +Purchase +Direct expense Closing stock
Sales – Cost of goods sold
Sales returns Cost of goods sold
Sales + Cost of goods sold
QUESTION 3. Trading account is ________
Statement
Positional a/c
Capital a/c
Account
QUESTION 4. The liability of members if company is limited by guarantee
Unpaid value of shares
Guarantee amount
Unlimited liability
None of the above
QUESTION 5. For what use are preparing profit and loss a/c
To find out net profit or net loss
To find out gross profit or gross loss
To know closing stock
To determine the sales
QUESTION 6. Balance sheet show __________ and ____________ of fund
Incomes and losses
Sources and applications
Debit and Credit
Asset and liability
QUESTION 7. Outstanding expenses are those expenses which have become ________ during the accounting year
Payable
Payed
Received
Receivable
QUESTION 8. Balance sheet is known as ____________ statement
Positional
Expense
Income
Expenditure
QUESTION 9. Which of these is accounting equation?
Liability = Asset + Capital
Asset = Liability Capital
Capital = Asset + Liability
Asset = Liability +Capital
QUESTION 10. Property of the company belongs to
Company
Shareholders
Members
Promoters
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QUESTION 11. Trading and profit and loss account is known as __________statement
Income
Expense
Position
Revenue
QUESTION 12. Maximum no .of members in case of public company is
0
unlimited
50
100
QUESTION 13. Principal books of accounting is known as _____________
Journal
Profit and loss
Ledger
Balance sheet
QUESTION 14. Why use prepare trial balance
To check arithmetical accuracy of a/c
To know the financial position
To know the gross profit
To know the capital of the firm
QUESTION 15. Maximum no. of members in case of private company is
50
100
150
200
QUESTION 16. The liability of members if company is limited by shares
Unpaid value of shares
Guarantee amount
Unlimited liability
None of the above
QUESTION 17. Minimum number of members in case of public company
1
2
5
7
QUESTION 18. Debit aspect is known as____________and Credit aspect is known as_________________
Receiving and giving
Liability and asset
Expense and Gains
Income and Expenses
QUESTION 19. Minimum number of members in case of private company is
1
2
3
4
QUESTION 20. Which of the following assets does not depreciate?
Machinery and Equipment
Patents
Land
Furniture
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Economics for Managers
QUESTION 1. Contraction of demand is shown by:
Upward movement on the demand curve
Downward movement on the demand curve
Rightward shift of the demand curve
Leftward shift of the demand curve
QUESTION 2. “Demand Function, X = f (P) where X = demand of a commodity; P = Price of the commodity”
Demand is directly related to price
Price is inversely related to demand
Price is directly related to demand
None of the above
QUESTION 3. Economics is
the study of the markets for stocks and bonds
the study of choice under conditions of scarcity
exclusively the study of business firms
fundamentally the same as sociology e. applicable only when scarcity is not a problem
QUESTION 4. Which of the following statements is NOT TRUE of indifference curves?
They exhibit higher levels of utility as you move from the origin
They could intersect
They are downward sloping
They are convex to the origin
QUESTION 5. An indifference curve between two commodities where one is a bad and the other a good would:
be vertical to the axis measuring units consumed of the good
remain downward sloping
be vertical to the axis measuring units consumed of the bad
be upward sloping
QUESTION 6. Expansion of demand is shown by:
Upward movement on the demand curve
Downward movement on the demand curve
Rightward shift of the demand curve
Leftward shift of the demand curve
QUESTION 7. “In our model of decision making under different conditions, what is the difference between risk and uncertainty?”
“Under risk, there is a well defined problem; under uncertainty, the definition is unclear”
“Under risk, information is reliable; under uncertainty, it is not”
“Under risk, probabilities can be measured; under uncertainty, they cannot”
“Under risk, choices are clear and the chances of different outcomes can be measured; under uncertainty, neither applies”
QUESTION 8. An indifference curve shows combinations of two goods that:
could be available to the consumer in a given time period
would provide the consumer with the same level of satisfaction
could provide the consumer with similar levels of satisfaction
a consumer could buy with their given income.
QUESTION 9. Law of demand shows relation between:
Income and price of commodity
Price and quantity of a commodity
Income and quantity demand
Quantity demanded and quantity supplied
QUESTION 10. The situation in which limited resources are being used most effectively is called:
efficient
economic
abundant
scarce
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QUESTION 11. People and organizations have to make choices about how to allocate time and money because of
government rules and regulations
corporate control of our lives
scarcity of time and money
religious values
QUESTION 12. The three fundamental questions of economic organization are:
“when, for whom, and how”
“how, what, and for whom”
“who, how, and when”
“what, who, and why”
QUESTION 13. Coefficient of elasticity of demand is negative. It means:
Consumers sometimes buy negative units of commodity
Price and quantity demanded move in same capital
Law of demand holds
The two goods are complimentary to each other
QUESTION 14.The opportunity cost of a particular activity
is the same for everyone pursuing this activity
may include both monetary costs and forgone income
always decreases as more of that activity is pursued
usually is known with certainty e. measures the direct benefits of that activity
QUESTION 15. Increase in demand is shown by:
Upward movement on the demand curve
Downward movement on the demand curve
Rightward shift of the demand curve
Leftward shift of the demand curve
QUESTION 16. “In the case of a Giffen good, the demand curve will be:”
Horizontal
Downward-sloping to the right.
Vertical
Upward-sloping to the right
QUESTION 17. “Customers will be ready to purchase a specified quantity of a product, at a specified price, if marginal utility of further spending is equivalent to the”
Cost
opportunity cost
revenue
product cost
QUESTION 18. Tastes & first choices are determinants of
supply
demand
demand curve
elasticity
QUESTION 19. Ostentation means goods purchased not for _______ but for snob appeal.
Utility
Direct satisfaction
Demand
None of these
QUESTION 20. This is an assumption of law of demand:
Price of the commodity should not change
Quantity should not change
Supply should not change
Income of consumer should not change
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Information Technology
QUESTION 1
ALU is
Arithmetic Logic Unit
Array Logic Unit
Application Logic Unit
None of above
QUESTION 2
The best products to sell in B2C e-commerce are
Small products
Digital products
Speciality products
fresh products
QUESTION 3
A logical schema
is the entire database
is a standard way of organizing information into accessible parts
describes how data is actually stored on disk
All of the above
QUESTION 4
Which of the following is not an example of a business process?
designing a new product
hiring an employee
purchasing services
testing software
QUESTION 5
DBMS is a collection of .. that enables user to create and maintain a database.
Keys
Translators
Programs
Language activity
QUESTION 6
Which of the following provides reliable communication?
TCP
IP
UDP
All of the above
QUESTION 7
Internet access by transmitting digital data over the wires of a local telephone network is provided by
leased line
digital subscriber line
digital signal line
none of the mentioned
QUESTION 8
The ……………….. is defined as a set of activities performed across the organization creating as output of value to the customer
development process
business process
quality process
customer focus
QUESTION 9
MIS normally found in a manufacturing organization will not be suitable in the ______.
Service sector
Banking sector
Agriculture sector
All of the above
QUESTION 10
“To improve the performance of a business process, which of the following is most relevant?”
Input
Processing
Control and Feddback
Output
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QUESTION 11
What does Management information systems (MIS) do?
create and share documents that support day-today office activities
“process business transactions (e.g., time cards, payments, orders, etc.) ”
capture and reproduce the knowledge of an expert problem solver
use the transaction data to produce information needed by managers to run the business
QUESTION 12
Which one is not a recognised key skill of management?
Conceptual skills
Human skills
Technical skills
Writing skills
QUESTION 13
What encourages users of a product or service supplied by a B2C company to ask friends to join in as well?
Spam
Viral marketing
Affliated programs
none of the mentioned
QUESTION 14
Internal information for MIS may come from any one of the following department
Customers care department
HR Department
Marketing Department
Production Department
QUESTION 15
HTML is used to create
machine language program
high level program
Web Page
Web server
QUESTION 16
The topology with highest reliability is ?
Bus Topology
Star topology
Ring topology
Mesh topology
QUESTION 17
” ________ can occur at the individual, group, organizational or extra-organizational level.”
Planning
Controlling
Organizing
Scheduling
QUESTION 18
In which website Global Easy Buy is facilitated?
Ebay.com
Amazon.com
Yepme.com
None of these
QUESTION 19
At what level of an organisation does a corporate manager operate?
Functional
Operational
Middle level
Top level
QUESTION 20
“If a university sets up a web-based information system that faculty could access to record student grades and to advise students, that would be an example of a/an”
CRM
Intranet
ERP
Extranet
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Quantitative Techniques in Management
Quantitative Techniques in Management
QUESTION 1. SPSS stands for which of the following?
Statistical Package for the Social Sciences
Statistics Problems Solved Smart
Simple Package for Science Statistics
Simple Program for Statistics and Science
QUESTION 2. “The set of values of the statistic so obtained, one for each sample, constitutes what is called:”
Sampling distribution
Systematic sampling
Stratified sampling
Cluster sampling
QUESTION 3. “When an investigator uses the data which has already been collected by others, such data is called ________.”
Primary data
Collected data
Processed data
Secondary data
QUESTION 4. Arithmetic mean is 25 and all sum of observations is 350 then number of observations are
25
70
14
75
QUESTION 5. Which of the following statements are true?
“The larger the sample size, the greater the sampling error”
“The more categories or breakdowns you want to make in your data analysis, the larger the sample needed.”
“The fewer categories or breakdowns you want to make in your data analysis, the larger the sample needed.”
“As sample size decreases, so does the size of the confidence interval”
QUESTION 6. Branches of statistics includes
applied statistics
mathematical statistics
industry statistics
both a and b
QUESTION 7. For any discrete distribution standard deviation is not less than
Mean deviation from mean
Mean deviation from median
Mode
None of these
QUESTION 8. “Find the variance and standard deviation for the data:57, 64, 43, 67, 49, 59, 44, 47, 61, 59”
8.13
4.2
6.8
8.89
QUESTION 9. Mean or average used to measure central tendency is called
sample mean
arithmetic mean
negative mean
population mean
QUESTION 10. The need for inferential statistical methods derives from the need for ______________.
Population
Association
Sampling
Probability
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QUESTION 11. “A population, in statistical terms, is the totality of things under consideration. It is the collection of all values of the _____ that is under study.”
Instance
Variable
Amount
Measure
QUESTION 12. Method used to compute average or central value of collected data is considered as
measures of positive variation
measures of central tendency
measures of negative skewness
measures of negative variation
QUESTION 13. Sampling is simply a process of learning about the ___on the basis of a sample drawn from it.
Census
Population
Group
Area
QUESTION 14. Diagrams such as cubes and cylinders are classified as
one dimension diagrams
two dimension diagram
three dimensional diagrams
dispersion diagrams
QUESTION 15. “Value of }fx is 180, A= 22, and width of class interval is 5, arithmetic mean is 120 then observations are”
59
30
39.5
49.5
QUESTION 16. “Find the range for the following data:14, 16, 16, 14, 22, 13, 15, 24, 12, 23, 14, 20, 17, 21, 22, 18, 18, 19, 20, 17, 16, 15, 11, 12, 21, 20, 17, 18, 19, 23”
13
12
14
16
QUESTION 17. “Find the mode in following numbers:- 9,8,15,8,20”
15
8
9
20
QUESTION 18. The sampling errors arise due to drawing faulty inferences about the ____ based upon the results of the samples.
Sample
Survey
Population
Census
QUESTION 19. ___________ is one which is collected by the investigator himself for the purpose of a specific inquiry or study.
Secondary data
Primary data
Statistical data
Published data
QUESTION 20. “In two units of company, employees in unit one are 650 and monthly salary is INR 2750, employees in unit two are 700 and monthly salary is INR 2500 then combined arithmetic mean is”
“INR 2,620”
“INR 2,520”
“INR 2,420”
“INR 2,320”
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