McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Cost Accounting .
| 101. |
Amit tells Bharat in the presence of Chetan that Amit is agent of Chetan. Chetan maintain silence instead of denying it. Later, if Amit sells Chetan's goods to Bharat, Chetan cannot dispute Bharat's title to the goods. This is example of |
| A. | Sale by official receiver |
| B. | Sale by a finder of goods |
| C. | Sale by estoppel |
| D. | Execution of Sale |
| Answer» C. Sale by estoppel | |
| 102. |
If a minor draws, endorses, delivers or negotiates an instrument, such instrument binds |
| A. | all parties to the instrument including the minor |
| B. | only the minor and no other parties to the instrument |
| C. | all parties to the instrument except the minor |
| D. | None of the above |
| Answer» C. all parties to the instrument except the minor | |
| 103. |
In a partnership firm, the decision can be made by rule of majority when decisions relate to |
| A. | policy matters |
| B. | ordinary routine matters |
| C. | financial matters |
| D. | buying and selling of property |
| Answer» B. ordinary routine matters | |
| 104. |
Power to exempt any LLP or class of LLP for audits of accounts is with |
| A. | Inspector |
| B. | Central Government |
| C. | Any other regulatory authority |
| D. | None of the above |
| Answer» B. Central Government | |
| 105. |
Every inspector appointed under the Factories Act or Payment of Wages Act is deemed to be a |
| A. | Controlling Officer |
| B. | Labour Welfare Officer |
| C. | Honorary Magistrate |
| D. | A Public Servant |
| Answer» D. A Public Servant | |
| 106. |
No fine can be imposed on any employed person who is under the age of |
| A. | 10 |
| B. | 12 |
| C. | 15 |
| D. | 18 |
| Answer» C. 15 | |
| 107. |
In case of employee covered under the ESI, the accident report shall be sent in _______ to local office of the ESI to which the company is attached. |
| A. | Form No. 18 |
| B. | Form No. 18A |
| C. | Form No. 25 |
| D. | Form No. 16 |
| Answer» D. Form No. 16 | |
| 108. |
The first case 'doctrine of frustration' as decided by the Supreme Court of India is |
| A. | BasantiBastralaya Vs. River Steam Navigation Co. Ltd. |
| B. | Raju Dhruv Dev Chand Vs. Raja Harmohinder Singh |
| C. | Sushila Devi Vs. Hard Singh |
| D. | Satyabrata Ghosh Vs. Mugneeram |
| Answer» D. Satyabrata Ghosh Vs. Mugneeram | |
| 109. |
Application for Director Identification Number (DIN) is to be made to Central Govt. in Form |
| A. | DIN-1 |
| B. | DIN-2 |
| C. | DIN-3 |
| D. | None of the above |
| Answer» A. DIN-1 | |
| 110. |
Business ethics is based on well accepted |
| A. | Moral and Social Values |
| B. | Social Values only |
| C. | Moral Values only |
| D. | None of the above |
| Answer» A. Moral and Social Values | |
| 111. |
Out of seven principles of public life, the principle of objectivity means |
| A. | holders of public office should take decisions solely in terms of the public interest. |
| B. | in carrying out public business including making public appointments, holders of public office should make choices on merit. |
| C. | holders of public office are accountable for their decision and actions to the public. |
| D. | holders of public office should be as open as possible about all the decisions and actions that they take. |
| Answer» B. in carrying out public business including making public appointments, holders of public office should make choices on merit. | |
| 112. |
Who is responsible for ethical behavior? |
| A. | Lecturers and Supervisors |
| B. | The Psychologist |
| C. | The Participants |
| D. | The psychological Community |
| Answer» B. The Psychologist | |
| 113. |
The three C’s of business ethics are |
| A. | Commitment, Contribution and Consequences |
| B. | Compliance, Contribution and Consequences |
| C. | Compliance, Customs and Contribution |
| D. | Codes, Compliance and Contributions |
| Answer» B. Compliance, Contribution and Consequences | |
| 114. |
Cash is withdrawn by a customer of a bank from the automatic teller machine is an example of |
| A. | Express Contract |
| B. | Void Contract |
| C. | Tacit Contract |
| D. | Illegal Contract |
| Answer» C. Tacit Contract | |
| 115. |
Which of the following is not implied condition under The Sale of Goods Act, 1930? |
| A. | Sale by description |
| B. | Sale by discount price |
| C. | Sale by sample |
| D. | Quality or fitness |
| Answer» B. Sale by discount price | |
| 116. |
Occupier of every factory shall provide and maintain suitable room or rooms for the use of the children under the age of six years of women workers where the number of such women workers exceed |
| A. | 20 |
| B. | 50 |
| C. | 30 |
| D. | 150 |
| Answer» C. 30 | |
| 117. |
Examine as to which of the following payments form part of "salary" under the provisions of the Payment of Bonus Act, 1965. |
| A. | Travelling allowance |
| B. | Commission on sales |
| C. | Dearness allowance |
| D. | Overtime allowance |
| Answer» C. Dearness allowance | |
| 118. |
Under Payment of wages Act, 1963, in any factory, in which 1200 persons are employed, wages must be paid |
| A. | any time |
| B. | before the expiry of 10th day of the following month |
| C. | before the close of the month |
| D. | before the expiry of 7th day of the following month |
| Answer» B. before the expiry of 10th day of the following month | |
| 119. |
The Employees Provident Funds Act, 1952 is applicable to every establishment mentioned in schedule 1 and employed |
| A. | 10 persons or more |
| B. | 100 or more persons |
| C. | 20 or more persons |
| D. | 50 or more persons |
| Answer» C. 20 or more persons | |
| 120. |
The employer's and employee's share of contribution of ESI fund is |
| A. | 1.75% and 4.75% of wages respectively |
| B. | 4.75% and 1.75% of wages respectively |
| C. | 10% and 3.75% of wages respectively |
| D. | 11 % and 3.75% of wages respectively |
| Answer» B. 4.75% and 1.75% of wages respectively | |
| 121. |
A Formal notarial certificate attesting the dishonour of a bill or note is called |
| A. | Noting |
| B. | Protest |
| C. | Attestation of Dishonour |
| D. | Endorsement |
| Answer» B. Protest | |
| 122. |
Public notice is not required when there is |
| A. | admission of new partner |
| B. | retirement of any partner |
| C. | expulsion of any partner |
| D. | dissolution of the firm |
| Answer» A. admission of new partner | |
| 123. |
The board of directors may appoint additional directors from time to time if so authorized by |
| A. | Articles of Association |
| B. | Memorandum of Association |
| C. | A resolution passed at general meeting |
| D. | A resolution passed at board meeting |
| Answer» A. Articles of Association | |
| 124. |
Business ethics are gaining importance because of |
| A. | smooth functioning |
| B. | good image |
| C. | the growth of consumer movement |
| D. | increasing profit |
| Answer» C. the growth of consumer movement | |
| 125. |
Which of the following statement is correct about business ethics? |
| A. | Social responsibility and business ethics are considered different concepts |
| B. | Making higher profits should be the main objective of a business |
| C. | A business may sustain only if it cares for society |
| D. | Companies making ethical investments may not be able to compete |
| Answer» C. A business may sustain only if it cares for society | |
| 126. |
Holders of public office should take decision solely in terms of the public interest. This principle of public life is called |
| A. | Integrity |
| B. | Accountability |
| C. | Honesty |
| D. | Selflessness |
| Answer» D. Selflessness | |
| 127. |
To resolve the Ethical Conflict, following should not be considered. |
| A. | Relevant facts |
| B. | Alternative Course of action |
| C. | Arms Length |
| D. | Ethical issues involved |
| Answer» C. Arms Length | |
| 128. |
Which one of the following is not a quasi contract? |
| A. | Claim for necessaries supplied to person incapable of contracting, or on his account |
| B. | Reimbursement of persons paying money by another, in payment of which he is interested |
| C. | Uncertainty and futurity of the event to which it is related |
| D. | Responsibility of finder of goods. |
| Answer» C. Uncertainty and futurity of the event to which it is related | |
| 129. |
Which one of the following is the subject matter of the contract? |
| A. | Existing or future goods |
| B. | Goods perishing before making contract |
| C. | Goods perishing before sale but after agreement to sell |
| D. | Any of the above. |
| Answer» D. Any of the above. | |
| 130. |
One of the following is not a negotiable instrument. Identify the same. |
| A. | Share certificate |
| B. | Bill of Exchange |
| C. | Cheque |
| D. | Promissory note |
| Answer» A. Share certificate | |
| 131. |
Who can take active part in the management of the firm? |
| A. | Sleeping partner |
| B. | Secret partner |
| C. | Working partner |
| D. | Nominal partner. |
| Answer» C. Working partner | |
| 132. |
A new partner can be introduced as a partner into a firm- |
| A. | At the discretion of active partner |
| B. | At the decision of partners authorized in this behalf |
| C. | With the consent of all existing partners |
| D. | None of the above. |
| Answer» C. With the consent of all existing partners | |
| 133. |
Shelter rooms with suitable lunch rooms are to be provided, if more than ______ workers are employed. |
| A. | 100 |
| B. | 150 |
| C. | 500 |
| D. | 1000 |
| Answer» B. 150 | |
| 134. |
Gratuity is payable to an employee ______________. |
| A. | On his superannuation |
| B. | Retirement |
| C. | Retrenchment |
| D. | In all the above cases. |
| Answer» D. In all the above cases. | |
| 135. |
Contribution of the employer to employees’ pension scheme is- |
| A. | 8.33% |
| B. | 10% |
| C. | 12% |
| D. | None of the above. |
| Answer» A. 8.33% | |
| 136. |
Who, among the following, is not the Principal Employer? |
| A. | Occupier of the factory |
| B. | Owner of the factory |
| C. | Legal representative of the owner |
| D. | Legal representative of the contractor. |
| Answer» D. Legal representative of the contractor. | |
| 137. |
The time limit for making bonus payment is- |
| A. | Within a period of one month from the close of the accounting year |
| B. | Within a period of three months from the close of the accounting year |
| C. | Within a period of six months from the close of the accounting year |
| D. | Within a period of eight months from the close of the accounting year. |
| Answer» D. Within a period of eight months from the close of the accounting year. | |
| 138. |
Review of minimum wages is to be done at such interval not exceeding- |
| A. | 3 years |
| B. | 5 years |
| C. | 7 years |
| D. | 10 years |
| Answer» B. 5 years | |
| 139. |
The wages of employed persons in an establishment where less than 1000 persons are employed, shall be paid before- |
| A. | 7th day |
| B. | 10th day |
| C. | 15th day |
| D. | Second working day |
| Answer» A. 7th day | |
| 140. |
In case of unlisted company the duplicate share certificate shall be issued within a period of- |
| A. | 45 days |
| B. | 3 months |
| C. | 6 months |
| D. | None of the above |
| Answer» B. 3 months | |
| 141. |
Which one of the following is not a contract? |
| A. | A find B’s purse and gives it to him. B promises to give him `1,000/- |
| B. | A promises, for no consideration, to give `10,000/- |
| C. | A agrees to sell a horse worth of `1,000/- for `10/- |
| D. | A supports B’s infant son. B promises to pay A’s expenses in so doing. |
| Answer» B. A promises, for no consideration, to give `10,000/- | |
| 142. |
Holder in due course means any person- |
| A. | Drawing the instrument |
| B. | Who for consideration became the possession of a promissory note |
| C. | Named in the instrument to whom or to whom order the money is directed to be paid |
| D. | None of the above. |
| Answer» B. Who for consideration became the possession of a promissory note | |
| 143. |
Intimation of the reconstitution of change in a registered partnership is to be given to the Registrar of firms- |
| A. | No time limit |
| B. | Within 30 days |
| C. | Within 60 days |
| D. | Within 90 days. |
| Answer» A. No time limit | |
| 144. |
A firm shall not contain any name- |
| A. | King |
| B. | Queen |
| C. | Empire |
| D. | All of the above |
| Answer» D. All of the above | |
| 145. |
The fee payable for registration of LLP whose contribution exceeds `10 lakhs is |
| A. | `500/- |
| B. | ` 2000/- |
| C. | ` 4000/- |
| D. | ` 5000/- |
| Answer» D. ` 5000/- | |
| 146. |
The gratuity is payable to an employee shall not exceed- |
| A. | 12 months pay |
| B. | 16 months pay |
| C. | 20 months pay |
| D. | 24 months pay |
| Answer» C. 20 months pay | |
| 147. |
Withdrawal from PF may be allowed for – |
| A. | Marriage of the employer |
| B. | Post matriculation education of children |
| C. | For the purchase of a dwelling place |
| D. | For illness in certain cases. |
| Answer» C. For the purchase of a dwelling place | |
| 148. |
ESI Corporation is a- |
| A. | Partnership firm |
| B. | Limited Liability Partnership |
| C. | Body Corporate |
| D. | Hindu Undivided Family. |
| Answer» C. Body Corporate | |
| 149. |
Who is not eligible to get bonus? |
| A. | A temporary workman |
| B. | A dismissed employee |
| C. | A piece rated employee |
| D. | A retrenched employee. |
| Answer» B. A dismissed employee | |
| 150. |
The appropriate government may fix minimum rate of wages for- |
| A. | Time work |
| B. | Piece work |
| C. | Guarantee time rate |
| D. | All the above. |
| Answer» D. All the above. | |
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