Mock Exam: KPSC MOCK TEST KPSC QP 119 2023 OL

1

When an auditor is appointed by the Central Government, who ﬁxes the remuneration of the auditor

2

The law of demand is a

3

National Income is

4

The income method for measuring GNP considers

5

Which item is included in the capital structure of a company

6

When is the capital redemption reserve account opened

7

A company can reduce its issued capital by

8

The dividend is the portion of

9

The method of raising equity capital from existing members by offering securities on a pro-rata basis is referred to as

10

The CAPM model can be explained as a linear relationship between systematic risk and security returns. This relationship is termed as

11

Which of the following is not a diversifiable risk factor?

12

SGR stands for

13

Which is the formula for the computation of earnings per share?

14

____________ audit is compulsory for all types of joint stock companies

15

Interim audit is conducted to

16

Sales made to Mr.Ram for Rs. 10,000 recorded as Rs. 1000 from the invoice is an example of

17

Management audit is generally conducted as per the order of

18

Veriﬁcation in auditing refers to

19

Accounting of 'related party disclosure' is related to

20

An auditor in general is

21

A cost auditor submits the ﬁnal report to

22

Which of the following is not a function of an auditor?

23

Which of the following constitutes the element under performance audit?

24

According to Sec 2(24) of income T ax Act 1961 which of the following is/are included in the income of an assessee\n(i) Proﬁt and Gains\n(ii) Value of any perquisite in lien of salary\n(iii) Refund of customs or excise duty\n(iv) Consideration for issue of shares

25

Which of the following incomes are exempted from T ax according to section 10 of the Income T ax Act 1961\n(i) Income of a foreign company\n(ii) Income of a consultant\n(iii) Compensation on disaster\n(iv) Short term capital Garn

26

The following details are related to a house:\n\n| Particulars | Rs. |\n|---|---|\n| Municipal value | 1,00,000 |\n| Fair rental value | 1,20,000 |\n| Standard Rent | 1,25,000 |\n| Actual Rent | 1,15,000 |\n\nThe Gross Annual value (GAV) of the house is

27

Which of the following allowances are fully taxable as per the present income tax rules\n(i) Project Allowance\n(ii) Medical Allowance\n(iii) foreign Allowance\n(iv) marriage Allowance

28

Mr. X was retrenched from service n 31.3.2022 and he was given Rs. 6,20,000 as compensation for the same However, the compensation payable according to the industrial Dispute Act was Rs. 5,20,000. What is the taxable amount of compensation

29

Mr. X transferred as asset to Mr. Y who is Mr.Z's wife and inturn Mr.Z transfers an asset to Mr. S who is the wife of Mr. X@ This is an example of _____________

30

Which of the following services are covered under Reverse charge mechanism in GST\n(i) Legal consultancy\n(ii) Good, Transport Agency\n(iii) Manpower supply\n(iv) Rent a lab

31

Given that the cost of an article is Rs. 25,000 and CGST paid by the owner is Rs. 2,250. The rate of GST is

32

As per GST rules which of the following set oﬀ is not permitted

33

Which of the following is/are included in the deﬁnition of "Goods" as deﬁned under section 2(52) of the CGST Act 2017\n(i) Money\n(ii) Actionable claim\n(iii) security\n(iv) Growing crops

34

A ladt received gifts worth Rs. 1,00,000 from her relatives as deﬁned under the income T ax Act 1961 and Rs. 60,000 from her oﬃce colleagues in her marriage anniversary. The taxable amount of gift would be

35

After reissue of forfeited share the balance of forfeited account will be transferred to

36

Which one of the following is not correctly matched?

37

Authorized capital is the _____________ capital that can to be raised by company

38

Amount of share premium is credited to _________ account

39

Depreciation of an existing company is

40

Heavy Expenditure on advertisement is

41

Under which head share premium account is shown in company Balance sheet

42

The name and holdings of equity shareholders given the ____________ of the statement of aﬀairs of liquidated company

43

Net losses on sale or revaluation of investments gold, silver, alnd and premises of banking company may be

44

The diﬀerence between the debt side and credit side of the revenue account of an insurance company is

45

Accounting standard 14 deals with

46

International accounting standards committee came into being in

47

Share premium will be treated as

48

Discount on issue of share is a

49

The company proﬁt prior to incorporation capital proﬁt is transferred to

50

Absorption means

51

Liquidator is appointed by

52

Working capital is used to

53

The person who draws the bill is known as

54

The act of buying an asset without having to make full payment in the immediate future is known as

55

The rules for how to deal with leases and hire purchase contract are set out in which accounting standard?

56

Which of these is not part of the planning ﬁles of a production planning and contraol system?

57

Which of the following statements are correct?\n(i) Quartile deviation is 0.6745 of standard deviation\n(ii) Standard deviation and Quartile deviation is relative measure of dispersion\n(iii) Coeﬃcient of variance is a absolute measure of dispersion\n(iv) Standard deviation is always less than range

58

The average marks in English obtained by 300 students is 45. If the average marks of ﬁrst and last 100 students are 70 and 20 respectively, then what is the average marks of remaining students?

59

If each value of a series is multiplied by 10, the coeﬃcient of variation will be increased by

60

Which of the following statements are correct\n(i) The ﬁre in factory is an example of erratic variations\n(ii) Moving average method is used for measurement of trend when the trend is curvilinear

61

Which of the following statements are correct?\n(i) Regression is independent of change of origin but not of scale\n(ii) Correlation is independent of change of scale but not of origin\n(iii) Correlation is both independent of change in origin and scale\n(iv) If the sign of twp regression coeﬃcient is negative, then the sign of the correlation coeﬃcient is positive

62

Under which method of measuring seasonal variations, data for each period (quarterly or monthly) are expressed as percentages of data for the previous period?

63

A trust fund has Rs. 30,000 that must be invested in two diﬀerent types of bonds. The ﬁrst bond pays 5% interest per year and the second bond pays 7% interest per year (using matrix multiplication) determine how do divide Rs. 30,000 among the two types of bonds if teh trust must obtained an annual interest of Rs. 2,000?

64

Find limit

\lim_{x \to 3} \frac{x^4 - 81}{2x^2 - 5x - 3}

65

When the price p=25, ﬁnd elasticity of demand of the demand function is q=100-2p?

66

The marginal cost function of producing x units of a product is given by... The total cost of producing 5 times is 1000. ﬁnd the total cost of producing 2 unit?

67

What annual rate of interest compounded annually doubles an investment in 7 years? Given that

2^{1/7} = 1.10409

68

Which method of material pricing is suitable when there is rise in price?

69

Calculate the re-ordering level\nMaximum consumption = 300 units per day\nMinimum consumption = 200 units per day\nRe-order period = 8 to 10 days

70

The incentive scheme designed to give encouragement to workers to perform better than before is called

71

There are two piece workers, A and B who are paid Rs. 5 for each piece of work executed which cost Rs, 15 per piece in material. In a working day of 8 hours, A can complete 4 pieces and B only 3. If the overhead charges are Rs. 1.50 per hour, show which of teh two piece workers is useful to the ﬁrm

72

Which method of costing applicable to advertising, furniture, ship building, case making and repairs

73

A company manufacturing a single product sells it at a price Rs. 80 per unit. The variable cost per unit is Rs. 48 and the annual ﬁxed cost amounts to Rs. 18 lakhs. Find the Break even sales

74

Contract Account is a

75

A standard material required to manufacture one unit of product X is 10 kgs and at standard price per kg of material is Rs. 25. The cost account records reveals that Rs. 11500 Kgs of material costing Rs. 276000 wrer used for manufacturing 1000 units of product X. Calculate material cost variance

76

Compute EBQ for a company\nAnnual demand for the component Rs. 24,000 se-up cost per batch Rs. 120, carrying cost per unit of production Rs. 0.36

77

Which costing techniques is applied where the production is uniform and continuous aﬀair, units of output are identical

78

Rate per hour = Rs. 1.50 per hour, Time allowed for job = 20 hours, Time taken = 15 hours. calculate total earnings of the worker under the Halsey plan

79

State whether the following statements are true or false\n(i) Master budget is a consolidated summary of the various functions budgets\n(ii) Budgetary control inculcates the feeling of cost consciousness among workers

80

The schedule, document or booklet which shows, in written forms budgeting organisation and procedures is known as

81

Among the following which one is NOT the method of preparing cash budget

82

Match the following:\n(a) Transfer pricing - (i) A deterministic model for scheduling\n(b) Simulation - (ii) Value of goods transferred between related parties\n(c) Skimmed pricing - (iii) Manipulating a model of the real system\n(d) CPM - (iv) Charging high prices during introduction phase

83

Expression of actual hours as a percentage of budgeted hours

84

Contour lines on a map are examples of

85

Which of the following is NOT a method of Transfer pricing

86

Saddle point occurs when

87

State whether the following statements are true or false\n(i) The more complicated the model, the more useful it generally is\n(ii) Models are often built by teams of individual drawn from diﬀerent disciplines

88

In learning curve, amount of attempts is usually measured along

89

The method of least squares implies

90

Which of the following statements are true regarding Multiprocessing Operating System\n(i) Multiprocessing Operating System sometimes implies that more than one CPU is involved\n(ii) Preemptive and co-operative operating systems are the two basic types of operating system in multiprocessing\n(iii) Multiprocessing operating system enables several programmes to run concurrently\n(iv) Multiprocessing operating system allows diﬀerent parts of a single programme to rum concurrently

91

What do you mean by Environmental scanning?

92

The components in the business layer of business intelligence component framework includes

93

Which sequence is correct with respect to phases in strategic management\n(i) implementation of strategies\n(ii) Establishing the hierarchy of strategic Intent\n(iii) Formulation of strategies\n(iv) Performing strategic evaluation and control

94

Which among the following category of companies are exempted from ﬁling statements in Extensible Business Reporting language (XBRL)\n(I) Non-Banking Financial companies\n(II) Power sector companies\n(III) Companies having paid up capital of 5 crore rupees or above\n(IV) Insurance sector companies

95

Section 72 of the Information T echnology Act 2000 deals with

96

A programme or a set of related programmes that an attacker installs on the victim computer to allow access to the system at a later time

97

Which of the following is true with regard to management Information System (MIS)\n(I) MIS is a system which subserves managerial functions\n(II) MIS collects information systematically and routinely\n(III) MIS supports planning and control decisions\n(IV) MIS does not include ﬁles, hardware, software and operations research modules.

98

Which of the following is true regarding supply chain management?\n(I) Supply chain is the process which helps the organization to develop and deliver products\n(II) Supply chain management involved all aspects of interactions of an organization with its customers\n(III) Supply chain management manages the ﬂow between diﬀerent stages to maximize productivity and minimize stock outs and over stocking\n(IV) Supply chain management is a software application that helps the organization to integrate various functions

99

Which process can be seen as the counter part of the quote-to-cash process in the context of B2B interactions

100

Which of the following statements are correct with respect to E-commerce\n(I) E-commerce involves process of transacting business over the internet\n(II) E-commerce involves fundamental re-engineering of the business model into an internet based networked enterprise\n(III) E-commerce provides a fundamental solution to the problem of diminishing proﬁt margin\n(IV) Initial set up cost is much lower and maintenance cost is minimal in case of E-commerce

KPSC Mock Test: Finance Manager - KELPALM

KPSC Mock Test: Finance Manager - KELPALM