McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Cost Accounting .
| 151. |
The payment of wages Act applies to wages payable to an employed person in respect of wage period if such wages for that wage period do not exceed _____ per month. |
| A. | ` 6500/- |
| B. | ` 10000/- |
| C. | ` 18,000/- |
| D. | ` 25,000/- |
| Answer» C. ` 18,000/- | |
| 152. |
The quorum for a public company having the number of members more than 5000 is- |
| A. | 2 |
| B. | 5 |
| C. | 15 |
| D. | 30 |
| Answer» D. 30 | |
| 153. |
In the case of an adjourned meeting the company shall give not less than _____ notice to the members. |
| A. | 1 day |
| B. | 3 days |
| C. | 7 days |
| D. | None of the above. |
| Answer» B. 3 days | |
| 154. |
Ethics is a set of _________ of human conduct that govern the behavior of individuals or organizations. |
| A. | Principles |
| B. | Standards |
| C. | Principles or standards |
| D. | None of the above |
| Answer» C. Principles or standards | |
| 155. |
The society for Business Ethics was started in |
| A. | 1950 |
| B. | 1960 |
| C. | 1970 |
| D. | 1980 |
| Answer» D. 1980 | |
| 156. |
The Payment of Bonus Act 1965 extends to: |
| A. | The whole of India |
| B. | The whole of India except Jammu & Kashmir |
| C. | The whole of India except Kerala |
| D. | The whole of India except Jammu & Kashmir and Kerala |
| Answer» A. The whole of India | |
| 157. |
The minimum ceiling on gratuity as per the Payment of Gratuity Act, 1972 is: |
| A. | ` 5 lakhs |
| B. | ` 10 lakhs |
| C. | ` 15 lakhs |
| D. | ` 20 lakhs |
| Answer» B. ` 10 lakhs | |
| 158. |
The ESI Act, 1948 provides certain benefits to the employees in case of ________ |
| A. | Sickness |
| B. | Maternity |
| C. | Employment injury |
| D. | All the three |
| Answer» D. All the three | |
| 159. |
A monthly return of contribution in the prescribed form 6 is required to be filed with the Commissioner within ……… days of the close of the month as per Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. |
| A. | 15 |
| B. | 20 |
| C. | 25 |
| D. | 30 |
| Answer» C. 25 | |
| 160. |
____________ is not a negotiable instrument as per customs and usage. |
| A. | Delivery note |
| B. | Railway Receipt |
| C. | Cheque |
| D. | Government promissory note |
| Answer» C. Cheque | |
| 161. |
The minimum paid-up capital for a Public company is: |
| A. | ` 3lakhs |
| B. | ` 4lakhs |
| C. | ` 5lakhs |
| D. | None of the above |
| Answer» D. None of the above | |
| 162. |
If the agreement is made by obtaining consent by doing an act forbidden by the Indian Penal Code, the agreement would be caused by: |
| A. | Coercion |
| B. | Fraud |
| C. | Misrepresentation |
| D. | Undue influence |
| Answer» A. Coercion | |
| 163. |
Hundi’s are Indigenous instrument written in ____________ language |
| A. | Vernacular |
| B. | Hindi |
| C. | English |
| D. | Sanskrit |
| Answer» A. Vernacular | |
| 164. |
"If you contract to sell peas, you cannot oblige a party to have beans" - This statement applies to: |
| A. | an implied condition as to be description of goods |
| B. | the implied condition as to fitness of goods for a particular purpose |
| C. | implied condition as to sample |
| D. | implied condition as to title |
| Answer» A. an implied condition as to be description of goods | |
| 165. |
Who is an Adolescent as per Factories Act, 1948? |
| A. | Who has completed 17 years of age |
| B. | Who is less than 18 years |
| C. | Who has completed 15 years but less than 18 years |
| D. | None of these |
| Answer» C. Who has completed 15 years but less than 18 years | |
| 166. |
Which of these is not a negotiable instrument as per the Negotiable Instrument Act, 1881? |
| A. | Bill of exchange |
| B. | Delivery note |
| C. | Bearer Cheque |
| D. | Share Certificate |
| Answer» D. Share Certificate | |
| 167. |
A person may not become an agent if ______________ |
| A. | He is of the age maturity |
| B. | He is of unsound mind |
| C. | Either of the above |
| D. | None of the above |
| Answer» D. None of the above | |
| 168. |
In absence of a contract to the contrary, an agent is entitled to retain __________________ of the principal until amount due for commission is not received by him. |
| A. | Goods |
| B. | Papers |
| C. | Property (whether moveable or immovable) |
| D. | All of the above |
| Answer» D. All of the above | |
| 169. |
Section 122 of Companies Act, 2013 provides that which of the following provisions are not applicable to an OPC |
| A. | Section 100: Calling of EGM |
| B. | Section 101: Notice of Meeting |
| C. | Section 105: Proxies |
| D. | All of the above |
| Answer» D. All of the above | |
| 170. |
A company in which either of the Government has no paid-up share capital is called as a _________________ company |
| A. | Non-Government |
| B. | Government |
| C. | Listed |
| D. | Non-listed |
| Answer» A. Non-Government | |
| 171. |
Section 7(4) of Companies Act, 2013 provides that the company shall maintain and preserve copies of all documents and information as originally filed with the registrar till it’s ______________ under this Act. |
| A. | Incorporation |
| B. | Commencement |
| C. | Dissolution |
| D. | None of the above |
| Answer» C. Dissolution | |
| 172. |
______________ are the principles of Business Ethics. |
| A. | Avoid exploitation of consumers |
| B. | Avoid unfair trade practices |
| C. | Unfair treatment to employees |
| D. | All of the above |
| Answer» D. All of the above | |
| 173. |
In case of contractual obligations where the promisor dies before performance: |
| A. | The legal representatives of the promisor must perform the promise |
| B. | The legal representatives of the promisor must perform the promise provided it is not one dependent on the personal qualifications of the promisor |
| C. | The legal representatives may not perform the promise |
| D. | The legal representatives are not liable to pay damages for nonperformance of the promise. |
| Answer» D. The legal representatives are not liable to pay damages for nonperformance of the promise. | |
| 174. |
An anticipatory repudiation has the effect of: |
| A. | An automatic putting an end to the contract |
| B. | Putting an end to the contract only on acceptance of the repudiation by the other party |
| C. | Putting an end to the contract only on failure to perform when performance is due. |
| D. | No putting an end to the contract. |
| Answer» B. Putting an end to the contract only on acceptance of the repudiation by the other party | |
| 175. |
In pretended bidding, sale is _______________. |
| A. | Sale is voidable at the option of the seller |
| B. | Sale is voidable at the option of the buyer |
| C. | Valid |
| D. | Illegal |
| Answer» B. Sale is voidable at the option of the buyer | |
| 176. |
According to Minimum Wages Act, 1948 wage slip shall be issued by every employer to his employees |
| A. | One day prior to disbursement of wages |
| B. | On the date of disbursement of wages |
| C. | One day later to the disbursement of wages |
| D. | Anytime during the month |
| Answer» A. One day prior to disbursement of wages | |
| 177. |
All monies received on application shall be kept in a separate bank account in a ______ bank. |
| A. | Nationalised |
| B. | Scheduled |
| C. | Government |
| D. | Any of the above |
| Answer» B. Scheduled | |
| 178. |
Where a company issues shares with differential right, the _____ should be maintained under Section 88 of Companies Act, 2013. |
| A. | List of share-holders |
| B. | Register of shares |
| C. | Register of Members |
| D. | List of shares |
| Answer» C. Register of Members | |
| 179. |
Rule 34 provides that where the Tribunal has made winding up order of a LLP, the liquidator shall submit a report containing which of the following particulars: |
| A. | Debts due to the LLP |
| B. | Guarantees given by the LLP |
| C. | Existing and contingent liabilities of the LLP |
| D. | All of the above |
| Answer» D. All of the above | |
| 180. |
Every member of a company listed by shares and holding equity share capital shall have the right to _____________ on every _____________ placed before the company. |
| A. | vote; resolution |
| B. | Speak; agenda |
| C. | Speak; resolution |
| D. | Any of the above. |
| Answer» A. vote; resolution | |
| 181. |
When a professional promotes a position or opinion to such extent that some objectivity may have to be compromised, this threat is known as |
| A. | Familiarity threat |
| B. | Objectivity threat |
| C. | Advocacy threat |
| D. | Intimidation threat |
| Answer» C. Advocacy threat | |
| 182. |
The ________ of the company shall contain the regulations for management of the company. |
| A. | Articles |
| B. | Memorandum |
| C. | Both |
| D. | None of the above |
| Answer» A. Articles | |
| 183. |
The supervisory board under the German Model is known as |
| A. | Aufsichtsrat |
| B. | Kiertsu |
| C. | Vorstand |
| D. | Kyosei |
| Answer» A. Aufsichtsrat | |
| 184. |
An audit committee has four fold relationship and therefore has to interact with management, internal auditor, public and |
| A. | Cost auditor |
| B. | Statutory auditor |
| C. | Tax auditor |
| D. | Management auditor |
| Answer» B. Statutory auditor | |
| 185. |
Which of the following is a method of discharge from liability? |
| A. | By endorsement |
| B. | By promising |
| C. | By cancellation |
| D. | By registration |
| Answer» C. By cancellation | |
| 186. |
Gratuity is payable to an employee after he has rendered continuous service for not less than five years on his |
| A. | transfer |
| B. | daughter's marriage |
| C. | re-employment |
| D. | resignation |
| Answer» D. resignation | |
| 187. |
Who will not be considered as an employee? |
| A. | Canteen workers |
| B. | Casual workers |
| C. | Partners |
| D. | Part time employee |
| Answer» C. Partners | |
| 188. |
"Individual pension account" means an account of subscriber, executed by a contract setting out the terms and conditions under the |
| A. | Provident fund scheme |
| B. | National pension system |
| C. | Citizen welfare system |
| D. | Minimum wage payment scheme |
| Answer» B. National pension system | |
| 189. |
Which of the following is not a category of company? |
| A. | Inactive company |
| B. | Assistant company |
| C. | Dormant company |
| D. | Producer company |
| Answer» B. Assistant company | |
| 190. |
Section 92 of the Companies Act, 2013 requires a company to prepare and file annual return in form no. |
| A. | MGT-12 |
| B. | INC-23 |
| C. | MGT-7 |
| D. | SH-10 |
| Answer» C. MGT-7 | |
| 191. |
The main feature of e-contract is |
| A. | Cost and acceptability |
| B. | Purity and clarity |
| C. | Speed, accurate and reliable |
| D. | Perfection and attractive |
| Answer» C. Speed, accurate and reliable | |
| 192. |
Which of the following is not an unpaid seller's right against the goods? |
| A. | The right of retention |
| B. | The right of stoppage in transit |
| C. | The right of seeking claim for damage |
| D. | The right of resale |
| Answer» C. The right of seeking claim for damage | |
| 193. |
Where the endorser does not want that the endorsee or any other holder to incur any expense on his account is called |
| A. | Restrictive endorsement |
| B. | Sans frais endorsement |
| C. | Conditional endorsement |
| D. | Unwanted endorsement |
| Answer» B. Sans frais endorsement | |
| 194. |
The liability of the partners will continue for the acts done before the dissolution, even after the dissolution, until |
| A. | Public notice is given of the dissolution |
| B. | Partners are getting the final payment |
| C. | Claim is demanded by the creditors |
| D. | The death of partners |
| Answer» A. Public notice is given of the dissolution | |
| 195. |
Every employee shall be entitled to receive bonus from his employer in an accounting year if he has worked for not less than |
| A. | Ten working days |
| B. | Twenty working days |
| C. | Thirty working days |
| D. | Forty working days |
| Answer» C. Thirty working days | |
| 196. |
Under Employee's State Insurance Act, 1948, the term of the office of the members of Medical Benefit Council shall be |
| A. | 2 Years |
| B. | 4 Years |
| C. | 5 Years |
| D. | 10 Years |
| Answer» B. 4 Years | |
| 197. |
Which one cannot be transacted through postal ballot? |
| A. | Appointment of auditor |
| B. | Election of a Director |
| C. | Buy back of shares by a company |
| D. | Change in place of registered office outside the local limits of any city, town or |
| Answer» A. Appointment of auditor | |
| 198. |
The appointment of an independent director shall be approved by the |
| A. | Board meeting |
| B. | General meeting |
| C. | Registrar of Companies |
| D. | Central Government |
| Answer» B. General meeting | |
| 199. |
The sweat equity shares shall be locked in for a period of __________ years from the date of allotment. |
| A. | One |
| B. | Two |
| C. | Three |
| D. | Four |
| Answer» C. Three | |
| 200. |
The following is the disadvantage of business ethics: |
| A. | Through increasing morale and trust business can increase their market share |
| B. | Publicity due to well and ethical performance |
| C. | Acceptance of products of the company by the public |
| D. | Diversity in achievements |
| Answer» D. Diversity in achievements | |
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