Business Statistics Short Questions Guess Paper I Com Part 2 2016

Write down the sources of primary data. OR Explain the term primary data. OR Name the
method used for the collection of primary data.
Write down the main parts of table.
Define the word Statistics. OR Define statistics in plural sense. OR Define statistics in singular
sense. OR Write any two limitations of statistics. OR Write any two uses of statistics. OR Define
four important characteristics of statistics. OR Name main branches of Statistics. OR Briefly
describe the importance of statistics in administration. OR What is meant by a statistical
average?
What is meant by measures of central tendency?
Define Arithmetic Mean. OR Write down any two properties of Arithmetic Mean. OR Give the
formula of coding method to compute arithmetic mean. OR If E x = 450 and n = 20 find
arithmetic mean? OR Give the advantages of arithmetic mean. OR Describe any four
characteristics of arithmetic mean. OR Define the weighted arithmetic mean. OR What is meant
by cumulative frequency? OR Give two methods of calculating mean. OR Write three merits of
Arithmetic Mean. OR The sum of deviations of 15 values from 20 is 45. Find A.M.
Define median. OR Define median with formula. OR In a moderately skewed distribution mean
= 25 and mode = 28. Find the value of median. OR Calculate median from the values 32, 35, 37,
30 and 40. OR The minimum temperature in Mlyrree for the first 10 days of March was 1, 2,
0, 3, 3, 4, 3, 2, 6, I. Find Median.
State mode with an example. OR Write two demerits of mode. OR In a symmetrical distribution
mean is 10. Find the value of median. OR For a skewed distribution, median = 40 and mean =
30, find mode. OR Define the empirical relation between mean, median and mode.
What is classification? OR Write four important bases of classification of data.
Write down the formula of the angle of a sub-sector used in Pie Chart.
Differentiate between historigram and histogram.
Define index number. OR What are the important uses of Index Numbers? OR Define price
index number. OR Write any two uses of index nurnber. OR Define quantity index number. OR
Explain the difference between simple and composite index numbers. OR Name three basic
types of index number. OR Define the term weighted index. OR Describe the unweighted index
number. OR What is the formula of value index number? OR Define Fishers Ideal Index
Number. OR The mean of 100 items is 5 and that of 150 items is 4.8. Find combined mean.
If Paasches Index Number is 154.55 and Fishers Index Number is 154.83, compute Laspeyres
Index Number. OR What will be the Laspeyres price index if Passches price index and Fishers
index are 108 and 112 respectively?
Define probability. OR What is the classical definition of probability? OR What is the probability
of getting trail on a throw of coin? OR What is the probability of getting sum 7, when two dice
thrown? OR A fair die is rolled. Show that probability of getting even faces and probability of
getting odd faces are the same. OR If three coins are tossed together, what is the probability of
getting exactly two heads? OR If one card is drawn from 52 playing cards, find the Probability
that it is a King of Heart Card?
Explain the difference between population and sample.
Define discrete variable. OR Explain the difference between discrete and continuous variable.
What is an average? OR Name the important types of averages. OR When weighted average is
required?

What is frequency distribution? OR What is cumulative frequency? OR Define relative

frequency. OR What is the relative frequency distribution?
Define simple bar chart. OR What are the different types of charts used in presenting of
statistical data? OR What is difference between diagrams and graphs?
Define link relative. OR Define price relatives.
What is meant by an event? Give an example. OR Define exhaustive events. OR Define mutually
exclusive events. OR State the addition law for two not mutually exclusive events. OR
Distinguish between simple and compound events. OR Explain the term equally likely events.
OR Define sure events. OR Differentiate between independent and not-independent events.
Define continuous variable with example. OR What is qualitative variable? OR Difference
between constant and variable?
Define chain indices. OR Define chain base method.
What is the base period? OR What do you understand by Base Period?
Define sample space. OR List the sample space, when coin is tossed 3 times. OR Write the
sample space for tossing a pair of coins. OR Write sample space for toss of a fair cubical die.
Define constant.
Differentiate between ungrouped data and grouped data.
What is secondary data? OR Name the sources of secondary data. OR Name three private
sources of secondary data. OR Describe the method of direct personal investigation for collecting
data. OR Describe the method df registration through local sources for collecting data.
Define class interval. OR Define the term class mark.
Define a random experiment.
Define tabulation.
In how many ways can six different books be arranged on?
What is personal investigation method?
What is a questionnaire method?
Differentiate between box head and stub.
Explain the term trial and outcome giving examples.
What is a parameter?
What is an empty set? OR What is meant by universal set?
Explain the quantitative data.
Explain fixed base method.
What is an array?

Principles of Accounting Short Questions Guess Paper I Com Part 2 2016

Guess Paper of Principles of Accounting I.Com Important Short Questions
What is menat by honorarium?
Define receipts and payments account. OR Write down any two features of receipts and
payments account.
Define simple single entry system. OR Define pure single entry system. OR Why we prepare
single entry system? OR Define Single Entry System of bookkeeping. OR Write any three
disadvantages of single entry system. OR Why Single Entry System of Accounting is not suitable
for large scale business? OR Write down the various methods of ascertaining loss & profit under
single entry system. OR What is major difference between the single entry system of
bookkeeping and double entry system?
Define income and expenditures account.
What is statement of affairs? OR What is the difference between statement of affairs and balance
sheet? OR What is ascertained by preparing opening statement of affairs? Define it.
Define deficiency.
Define entrance fee. OR Define membership fee.
Give two examples of non-trading concern. OR Write down the major statements prepared by
non-trading concerns. OR Why donations are necessary for non-trading concerns? OR Define
non-trading organization. OR What is meant by non-trading concerns? OR Define trading
business.
What is meant by consignment? OR Define consignment stock. OR Define consignment account.
OR Define consignment commission. OR Write down two characteristics of consignment. OR
Write formula for valuation of unsold stock on consignment. OR How many parties are involved
in consignment? Write their names. OR What do you mean by Consignor and consignee in
consignment? OR What is meant by consignment inward and consignment outward? OR What is
the difference between consignment and sales?
Pass journal entry in the books of consignor for goods dispatched to consignee. OR Why
consignee is not purchaser in the eye of law? OR Why Del-credere commission is given to
consignee? OR Who is consignee? OR Define consignor. OR What is the relationship between
consignor and consignee?
What is meant by normal loss? OR What is abnormal loss?
Define partnership. OR What is partnership deed? OR Define partnership at will. OR Define
limited partnership. OR Define partnership agreement.
What is partner? OR What is limited partner? OR What is new partner? OR Define minor
partner. OR What is meant`by retirement of a partner? OR Define secret partner. OR What is
holding out partner? OR Define junior partner. OR Who is an active partner? OR Define sleeping
partner. OR Define nominal partner.
What is profit and loss appropriation account? OR Prepare a complete sketch of statement of
profit and loss.
What is co-ownership?
What is meant by goodwill? OR Write different methods of calculating goodwill. OR Pass
journal entry if goodwill account raised in books.
What is drawings? OR What is interest on drawings?
What is meant by company? OR Define private company. OR Define private limited company.
OR What is meant by company limited by guarantee? OR What is registered company? OR

What is holding company? OR Name the different kinds of company. OR What is meant by
chartered company? OR What is meant by Common Seal of Company?
Define the term depreciation. OR Write the name of four methods of depreciation. OR What is
meant by accumulated depreciation? OR What is meant by fixed instalhnent method of
depreciation? OR What is depreciation expenses? OR What is straight line method of
depreciation? OR Write two objects of depreciation. OR How yearly depreciation is calculated
under straight line method? OR Write down the formula of charging depreciation under straight
line method. OR Define diminishing balance method of depreciation.
Define the term depletion. OR What is meant by depletion?
What is debenture?
What is reserve? OR What is issued capital? OR What is reserve capital? OR What is additional
capital? OR What is capital fund? OR What is meant by fluctuating capital? OR Why fresh
capital is deducted from closing capital? OR What is registered capital? OR What will be the
capital of proprietor, if his assets are of Rs. 50,000 and liabilities are of Rs. 10,000?
Define the term Share. OR Define share holder. OR What are different kinds of shares? OR
What will be the journal entry if the share is allotted at par? OR What is maximum discount rate
for issue of shares? OR Give entry for allotment of shares at par. OR What is meant by shares
issued at par? OR Define issue of shares at premium.
What is meant by diminishing balance method?
What do you mean by residual value of assets?
What is meant by underwriter? OR What is underwriting commission?
What is endowment fund?
What is meant by legacy?
Define subscription. OR What is meant by outstanding subscription? OR Define over
subscription.
Define double entry system. OR Define double entry system of Book keeping.
What do you mean by surplus?
Define Donation.
Define balance sheet.
What is meant by account sale? OR Define sales account.
Define firm.
Who are promoters?
Differentiate between memorandum of association and articles of association. OR Define
Memorandum of Association. OR What is meant by Article of Association?
What is Prospectus? Define preliminary expenses. What is meant by deficit?
Define Personal Account. Define the term Amortization.
Define surrender value. Write down formula for determining net profit under net worth method.
Define sacrifice ratio. Define del-credere commission.
Define joint stock company. OR Write any four advantages of Joint Stock Company. OR Define
four characteristics of joint stock company. OR Define common seal of joint stock company. OR
Define promoters of joint stock company. OR Define joint stock company under the ordinance
1984.Define non-profit concerns. What is meant by ordinary commission?
Define Non-recurring Expenses. Define fixed assets. Define scrap value .Define tangible assets.
What is dividend? Define real account.What is meant by obsolescence?
Define sacrificing ratio. Define life membership.What is absolescence?
What is fluctuation?