McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Cost Accounting .
| 201. |
A proposal may be revoked at any time before |
| A. | the communication of acceptance |
| B. | the payment of consideration |
| C. | signing the agreement |
| D. | execution of the proposal |
| Answer» A. the communication of acceptance | |
| 202. |
Which of the following is not to be taken care while admitting a new partner? |
| A. | Computation of newprofit sharing ratio and sacrifice ratio |
| B. | Accounting treatment of goodwill |
| C. | Professional qualification of admitting partner |
| D. | Revaluation of assets and liabilities |
| Answer» C. Professional qualification of admitting partner | |
| 203. |
Where goods are delivered to the buyer and he refuses to accept them, the buyer is not bound to |
| A. | retain them with him. |
| B. | look-after the goods. |
| C. | return them to the seller. |
| D. | store them in his godown. |
| Answer» C. return them to the seller. | |
| 204. |
No child shall be allowed to work in a factory unless he has completed his |
| A. | 12th year |
| B. | 14th year |
| C. | 16th year |
| D. | 18th year |
| Answer» B. 14th year | |
| 205. |
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than |
| A. | three years |
| B. | five years |
| C. | seven years |
| D. | ten years |
| Answer» B. five years | |
| 206. |
The Employees' State Insurance Corporation is |
| A. | Hindu Undivided Family |
| B. | Local Authority |
| C. | Charitable Institution |
| D. | Body Corporate |
| Answer» D. Body Corporate | |
| 207. |
The annual return of an OPC shall be signed by the company secretary or where there is no company secretary, by the |
| A. | Senior executive of the company |
| B. | Auditor of the company |
| C. | Director of the company |
| D. | Advocate of the company |
| Answer» C. Director of the company | |
| 208. |
If there is any mis-statement in the prospectus then it would attract the liability on |
| A. | The printer |
| B. | The issuer |
| C. | The publisher |
| D. | The proof-reader |
| Answer» B. The issuer | |
| 209. |
Every company limited by shares shall keep and maintain the Register of Members in Form No. |
| A. | MGT-1 |
| B. | MGT-3 |
| C. | MGT-7 |
| D. | MGT-12 |
| Answer» A. MGT-1 | |
| 210. |
Ethics are the set of moral principles that guide a person's |
| A. | Behaviour |
| B. | Philosophy |
| C. | Religion |
| D. | Profession |
| Answer» A. Behaviour | |
| 211. |
Anu threaten to kidnap Binu's daughter if she does not sell her house worth ` 90 Lakh to her for ` 20 Lakh. This Contract is void due to — |
| A. | inadequacy of Consideration |
| B. | absence of Free Consent |
| C. | incompetence of Parties |
| D. | None of the above |
| Answer» B. absence of Free Consent | |
| 212. |
The Latin Maxim "Nemo Dat Quod non Habet" means |
| A. | no man can pass a better title than he has |
| B. | let the Buyer beware |
| C. | no consideration – No contract |
| D. | ignorance of law is no excuse |
| Answer» A. no man can pass a better title than he has | |
| 213. |
As per the RBI Act, which of the following negotiable Instruments can be payable to the bearer on demand? |
| A. | Cheque |
| B. | Hundi |
| C. | Bank Draft |
| D. | Promissory Note |
| Answer» A. Cheque | |
| 214. |
When a partnership firm is continued even after the expiry of fixed term, it is called |
| A. | Partnership at Will |
| B. | Perpetual Partnership |
| C. | Fixed Partnership |
| D. | Particular Partnership |
| Answer» A. Partnership at Will | |
| 215. |
The amount of gratuity payable to an employee shall not exceed |
| A. | Ten months’ pay |
| B. | Twelve months’ pay |
| C. | Twenty months’ pay |
| D. | Twenty-five months’ pay |
| Answer» C. Twenty months’ pay | |
| 216. |
In case of a private company, mention the number of members personally present to form the quorum of a meeting of the company. |
| A. | One member |
| B. | Two members |
| C. | Three members |
| D. | Four members |
| Answer» B. Two members | |
| 217. |
Which of the following is not a valid medium of sending notice to all shareholders? |
| A. | By registered post or speed post |
| B. | Through public advertisement |
| C. | Through registered email-id |
| D. | Through courier service |
| Answer» B. Through public advertisement | |
| 218. |
If any default is made in filing refund of money, the company and every officer, who is in default shall be liable to a penalty maximum up to |
| A. | ` 50,000 |
| B. | ` 75,000 |
| C. | ` 1,00,000 |
| D. | ` 1,25,000 |
| Answer» C. ` 1,00,000 | |
| 219. |
A person is said to be of sound mind for the purposes of making a contract if, at the time when he makes it, he is capable of |
| A. | listening it |
| B. | hearing it |
| C. | understanding it |
| D. | interpreting it |
| Answer» C. understanding it | |
| 220. |
Ankit agrees to pay Bina ₹1500 if it rains today, otherwise Bina pays Ankit ` 2000. This is a |
| A. | Gambling |
| B. | Wagering agreement |
| C. | Valid agreement |
| D. | Speculation |
| Answer» B. Wagering agreement | |
| 221. |
Writing of a person's name on the face or back of an instrument or on a slip of paper attached to it is known as |
| A. | Endorsement |
| B. | Transfer |
| C. | Negotiation |
| D. | Transmission |
| Answer» A. Endorsement | |
| 222. |
Anusua and Shrita formed a partnership to undertake a construction of a shopping complex in New Delhi. This partnership is called |
| A. | Partnership at will |
| B. | Particular partnership |
| C. | Unlimited partnership |
| D. | Partnership with undefined mission |
| Answer» B. Particular partnership | |
| 223. |
As per the Minimum Wages Act 1948, Adolescent means a person who has completed the age of 14 years but not completed the age of |
| A. | 15 |
| B. | 14 |
| C. | 21 |
| D. | 18 |
| Answer» D. 18 | |
| 224. |
Every employee shall be entitled to receive bonus from his employer in |
| A. | a financial year |
| B. | an accounting year |
| C. | a calendar year |
| D. | a manufacturing year |
| Answer» B. an accounting year | |
| 225. |
The annual return of an OPC shall be signed by |
| A. | the company secretary |
| B. | the director |
| C. | the chief accountant |
| D. | the auditor |
| Answer» A. the company secretary | |
| 226. |
The minimum age limit for appointment of managing director and the wholetime director is |
| A. | 18 years |
| B. | 21 years |
| C. | 25 years |
| D. | 30 years |
| Answer» B. 21 years | |
| 227. |
A company cannot remove a director appointed |
| A. | at the annual general meeting |
| B. | at the extra ordinary general meeting |
| C. | by the promoter |
| D. | by the tribunal |
| Answer» D. by the tribunal | |
| 228. |
Moral management requires ethical |
| A. | producer |
| B. | leadership |
| C. | market |
| D. | customer |
| Answer» B. leadership | |
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