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1) It was Sunday on Jan 1, 2006. What was the day of the week Jan 1, 2010?
A. Sunday
B. Saturday
C. Friday
D. Wednesday

Answer: C
2) . Today is Monday. After 61 days, it will be:

A. Wednesday

Answer: B
3) Which of the following is not a leap year?

4 At 5:15, if the minute hand points towards the east, then in which direction will the hour hand
point at 6:00?
(a) North (b)
South (c) East
(d) West
Answer: b
5. A clock was placed in such a way that at 3 0’ clock, the hour hand point towards the
north east then at 8 0’clock in which direction the minute hand points?
(a) North
(b) South
(c) North east
(d) North west
Answer: d
6. A compass was damaged and it’s needle turned on such a manner that the pointer, which was
showing south is now showing west. One person went towards west as per above compass in which
direction did he actually so?
(a) North
(b) East
(c) North-East
(d) West
(d) None of these
Answer: a
7. A man leaves for his office from his house. He walks towards East. After moving a distance of 20 m,
he turns South and walks 10 m. then he walks 35 m towards the west and further 5 m towards
the North. He then turns towards East and walks 15 m. what is the straight distance (in metres)
between his initial and final positions?
(a) 0 (b) 5 (c) 10 (d) Cannot be determined
Answer: b

8. Namita walks 14 metres towards West, then turns to her right and walks 14 metres and then turns
to her left and walks 10 metres. Again turning to her left she walks 14 metres. What is the
shortest distance (in metres) between her starting point and the present position?
(a) 10 (b) 24 (c) 28 (d) 38
Answer: d
9. Rohan walks a distance of 3 km towards North, then turns to his left and walks for 2 km. he again
turns left and walks for 3 km. at what point he turns to his left and walks for 3 km. how many
kilometers is he from the starting point?
(a) 1 km
(b)2 Km (c)
3 km (d) 5

10. If in a certain language, MADRAS is coded as NBESBT, how is BOMBAY coded in that code?
a)CPNCBX b) CPNCBZ c) CPOCBZ d) CQOCBZ e) None of the above.
Answer: (b).
11. In a certain code, TRIPPLE is written as SQHOOKD. How is DISPOSE written in that code?
a)CHRONRD b) DSOESPI c) ESJTPTF d) ESOPSID e) None of these

Answer: (a).
Directions (Questions 12 to 14): The number in each question below is to be codified in the
following code:
Digit 7 2 1 5 3 9 8 6 4
Letter W L M S I N D J B

12. 184632
Answer:: (d).
13. 879341
Answer: (c).
14. 64928
Answer: (a)
15. . A family has a man, his wife, their four sons and their wives. The family of every son also has
3 sons and one daughter. Find out the total number of male members on the whole family?
(a) 4 (b) 8 (c) 12 (d) 17
Answer: D
16.. A and B are brothers. C and D are sisters. A's son is D's brother. How is B related to

(a) Father (b) brother (c) Grandfather (d) Uncle

Answer: D
17. A is B's sister. C is B's mother. D is C's father, E is D's mother. Then, how is A related to D?
(a)Grandmother (b)
Grandfather (c)
(d) Grand daughter
Answer: D

18. If two events A and B are independent, the probability that both will occur is given by

(a) P( A) x P(B)

(b) P (A) + P (B)

(c) P(A) + P(B) – P(A∩B)

(d) P(A) + P(B) – P(AUB)

Answer: a

19 If p: q is the odds in favor of an event, then the probability of that event is

(a) p/q



(d) none of these

Answer: C

20. If P (A) = 4/9; then the odd against the event ‘A’ is

(a) 4:9

(b) 4:5

(c) 5:4

(d) 4:14

Answer: C

(21-25) Study the following information carefully to answer the given questions.
Ten students are A to J are sitting in a row facing west.
I. B and F are not sitting on either of the edges.
II. G is sitting left of D and H is sitting to the right of J.
III. There are four persons between E and A.
IV. I is the north of B and F is the south of D.
V. J is between A and D and G is in E and F.
VI. There are two persons between H and C.
21. Who is sitting at the seventh place counting from left?
(a) H (b) C (c) J (d) Either H or C
Answer: (d)
22. Who among the following is definitely sitting at one of the ends?
(a) C (b) H (c) E (d) Cannot be determined
Answer: ( c)
23. who are immediate neighbours of I?
(a) BC (b) BH (c) AH (d) Cannot determined
Answer: ( d)
24. Who is sitting second left of D?
(a) G (b) F (c) E (d) J
Answer: ( a)

25.If G and A interchange their positions, then who become the immediate neighbours of E?
(a) G and F (b) Only F (c) Only A (d) j and H
Answer: ( c)


1. Book-keeping is mainly concerned with

(a) Recording of financial data.
(b) Designing the systems in recording, classifying and summarizing the recorded data.
(c) Interpreting the data for internal and external users.
(d) None of the above

2. All of the following are functions of Accounting except

(a) Decision making.
(b) Measurement.
(c) Ledger posting.
(d) Forecasting.

3. Financial position of the business is ascertained on the basis of

(a) Records prepared under book-keeping process.
(b) Trial balance.
(c) Balance sheet
(d) None of the above

4. All the following items are classified as fundamental accounting assumptions except
(a) Consistency. (b) Business entity.
(c) Going concern. (d) Accrual.

5. Kanika Enterprises follows the written down value method of depreciating machinery year
after year due to
(a) Comparability (b) Convenience.
(c) Consistency. (d) Going Concern.

6. Assets are held in the business for the purpose of

(a) Resale. (b) Conversion into cash.
(c) Earning revenue. (d) None of the above.

7. Accounting Standards
(a) Harmonise accounting policies.
(b) Eliminate the non-comparability of financial statements.
(c) Improve the reliability of financial statements.
(d) All of the above.

8. It is essential to standardize the accounting principles and policies in order to ensure

(a) Transparency.
(b) Consistency.
(c) Comparability.
(d) All of the above.

9. The rent paid to landlord is credited to

(a) Landlord’s account. (b) Rent account.
(c) Cash account. (d) None of the above.

10. In case of a debt becoming bad, the amount should be credited to

(a) Trade receivables account. (b) Bad debts account.
(c) Cash account. (d) Sales account.

11. Which account is the odd one out?

(a) Office furniture & Equipment. (b) Freehold land and Buildings.
(c) Inventory of materials. (d) Plant and Machinery.
12. Under simple single entry system, only personal accounts are kept and in some cases
(a) cash book is maintained;
(b) fixed assets accounts are maintained;
(c) liabilities account are maintained.
(d) None of the above

13. MIS stands for

a) Management Information System

b) Management Information Software
c) Memory Information System
d) Management Internal System

14. Tally is

a) System made software

b) Hardware
c) Tailor made software
d) Readymade software

15. In NPO, sports fund are shown in the liabilities side but if same is invested outside it

a) Expense
b) Investment
c) Surplus
d) Liability

16 Purposes of an accounting system include all the following except

(a) Interpret and record the effects of business transaction.
(b) Classify the effects of transactions to facilitate the preparation of reports.
(c) Dictate the specific types of business enterprise transactions that the enterprises
may engage in.
(d) Summarize and communicate information to decision makers.

17. Financial statements do not consider

(a) Assets expressed in monetary terms.
(b) Liabilities expressed in monetary terms
(c) Only assets expressed in non-monetary terms.
(d) Assets and liabilities expressed in non-monetary terms

18 Two primary qualitative characteristics of financial statements are

(a) Understandability and materiality. (b) Relevance and reliability.
(c) Neutrality and understandability. (d) Materiality and reliability

19 Capital brought in by the proprietor is an example of

(a) Increase in asset and increase in liability.
(b) Increase in liability and decrease in asset.
(c) Increase in asset and decrease in liability.
(d) Increase in one asset and decrease in another asset.

20 The concept of conservatism when applied to the balance sheet results in

(a) Understatement of assets. (b) Overstatement of assets.
(c) Overstatement of capital. (d) None of the above.

21 Under-statement of closing work in progress in the period will

(a) Understate cost of goods manufactured in that period.
(b) Overstate current assets.
(c) Understate net income in that period.
(d) Overstate gross profit from sales in that period.

22 A purchased a car for Rs. 5,00,000, making a down payment of Rs. 1,00,000 and signing a
Rs. 4,00,000 bill payable due in 60 days. As a result of this transaction
(a) Total assets increased by Rs. 5,00,000.
(b) Total liabilities increased by Rs. 4,00,000.
(c) Total assets increased by Rs. 4,00,000.
(d) Total assets increased by Rs. 4,00,000 with corresponding increase in liabilities
by Rs. 4,00,000.
23 Mohan purchased goods for Rs.15,00,000 and sold 4/5 th of the goods amounting
Rs.18,00,000 and met expenses amounting Rs. 2,50,000 during the year, 2017. He counted
net profit as Rs. 3,50,000. Which of the accounting concept was followed by him?
(a) Entity. (b) Periodicity.
(c) Matching. (d) Conservatism.

24 If the trial balance do not agree after transferring the balance of all ledger accounts, then
the trial balance is tallied by transferring the difference to

a) Sales Account
b) Expenditure Account

c) Purchase Account

d) Suspense Account

25 The cash book showed an overdraft of Rs. 1,500, but the pass book made up
to the same date showed that cheques of Rs. 100, Rs. 50 and Rs. 125 respectively had not been
presented for payments; and the cheque of Rs. 400 paid into account had not been cleared .
The balance as per the pass book will be
(a) Rs. 1,100.
(b) Rs. 2,175.
(c) Rs.1,625.
(d)Rs. 1,375

Economics Question Option-A Option-B Option-C Option-D Ans

1 Who were the People who had People People who People who B
Zamindars in big fruit gardens who were ruled the were the
British Raj? the country owner of big
permanent before lakes
owner of Britishers
big area of
2 During the period Labourers with Labourers Backward Stagnant B
of Zamindars, land without classes labour
Tillers were land
reduced to the
status of :
3 The Indian Under developed Semi- Stagnant All of these D
economy on the feudal
eve of
Independence was:
4 In 1947-48,growth More than 5% More than Less than 1 More than 8 C
rate of per capita 10% % %
income in India
5 On the eve of 10% 15% 20% 26% A
Independence, the
proportion of
engaged in
industrial sector
was :
6 In 1948 the 60% 65% 70% 85% D
proportion of
engaged in primary
sector was :
7 On the eve of Primary products Finished Both option None of these A
Independence, industrial 1&2.
India was net goods
exporter of :
8 What is It is a form of It is a form It is a type It is a type of A
subsistence farming in which of of technique cultivation
agriculture? crops are raised to plantation in which which uses
provide for the machines latest
basic needs of the replace techniques of
family labourers. production
9 What does low It means low input It means It means It means low C
productivity in per hectare of low output low output output per
agriculture mean? land. per owner per hectare decimal of
of land. of land. land.
10 What facilitated Indian Navy Indian Indian Air Indian army B
the movement of Railways force
food grains in India
11 Indian handicrafts Mughal time British time Dutch time None of the B
were destructed three
during ----------
12 The year 1921 was Great wall Great Great Divide Great Rights C
known as -------- Divine
13 When was the After Just before During After 1970 A
Zamindari system Independence Independe British rule
abolished in India? nce
14 Who is Dadabhai A notable Indian A notable A notable A notable B
Naoriji Scientist Indian British British
political Philosopher Economist
and social
15 In which situation With the When When MNCs When colonial B
the Indian introduction of MNCs stopped exploitation
handicrafts were in British rule in India started producing started in
stiff competition? producing machine India
machine made
made products
products in
16 Which were two Paddy & Cotton & Cotton & Jute & iron C
primary products vegetables salt jute ore
of India during
British raj?
17 Drain of Indian Brain drain by the Huge Indian A huge B
wealth during British ruler from expenses artifacts administrative
colonial rule India incurred by were sent to Buildings were
means: the British other established by
Govt. to countries. Indian
establish exchequer.
m through
18 At the eve of Backward, non – In top form In a None of the A
Independence, vibrant & needed of its flourishing three
India’s agricultural immediate productivit condition
sector was : attention y which
19 When was India’s 1872 1880 1865 1881 D
first official census
operation was
20 What legacy the A legacy of A legacy of A legacy of A legacy of C
British Raj left for adorable a bulky an efficient huge
the Indian education system system of system of participation
politicians& scientific administrati of sports
planners research on.
21 What economy we A backward & A stable & A highly None of the A
inherited from the stagnant moving developed three
British? With poverty economy economy
stricken economy
22 What is economic It refers to Central It refers It means A process D
planning? planning the developmen through which
authority. planning of t in the targets are
agricultural seller’s being
production market achieved as
per need &
means of the
23 Which one is the Agriculture, Education, Education Scientific B
social sphere of industry & health & health & discovery &
planning? transportation housing. productivity housing
24 What is Where social body Where Where Where private C
comprehensive itself participates NGO Govt. itself parties
planning? in growth & participate participates participate in
development in growth& in growth & growth &
process developme developmen development
nt process t process process
25 What is the merit It promotes self- It leads It leads to None of the A
of Capitalism? interest & economic equitable three
economic growth balance in distribution
the country of wealth


1. Which of the following does not characterise business activity?

(a) Production of goods
(b) Presence of risk and services
(c) Sale or exchange
(d) Salary or wages

Answer: (d)

2. Which of the broad categories of industries covers oil refinery and sugar mills?
(a) Primary
(b) Secondary
(c) Tertiary
(d) None of them

Answer: (b)

3. Which of the following cannot be classified as an auxiliary to trade?

(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport

Answer (a)

4. The occupation in which people work for others and get remunerated in return is known as
(a) Business
(b) Employment
(c) Profession
(d) None of them

Answer: (b)

5. The industries which provide support services to other industries are known as
(a) Primary industries
(b) Secondary industries
(c) Commercial industries
(d) Tertiary industries

Answer: (d)

6. Which of the following cannot be classified as an objective of business?

(a) Investment
(b) Productivity
(c) Innovation
(d) Profit earning

Answer: (a)

7. Business risk is not likely to arise due to

(a) Changes in government policy
(b) Good management
(c) Employee's dishonesty
(d) Power failure

Answer: (b)

8. The economic activity in which specialised knowledge is required is

(a) Business
(b) Employment
(c) Profession
(d) None of them

Answer: (c)

9. The reward a businessman gets for bearing the risks is called

(a) Remuneration
(b) Commission
(c) Bonus
(d) Profit

Answer: (d)

10. Fishing' is what type of industry?

(a) Primary industry
(b) Secondary industry
(c) Commercial industry
(d) Tertiary industry

Answer: (a)

11. Businessmen earn profit for

(a) Continuity
(b) Growth
(c) Risk taking
(d) All of them

Answer: (d)

12. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship
(b) Partnership
(c) Company
(d) All business organisations

Answer: (c)

13. The Karta in Joint Hindu Family Business has

(a) Limited liability
(b) Unlimited liability
(c) No liability for debts
(d) Joint liability

Answer: (b)

14. In a cooperative society, the principle followed is

(a) One share one vote
(b) One man one vote
(c) No vote
(d) Multiple votes

Answer: (b)
15. The board of directors of a Joint stock company is elected by
(a) General public
(b) Government bodies
(c) Shareholders
(d) Employees

Answer: (c)

16 Profits do not have to be shared. This statement refers to

(a) Partnership
(b)Joint Hindu Family Business
(c) Sole proprietorship
(d) Company

Answer: (c)

17. The capital of a company is divided into number of parts, each one of which is called
(a) Dividend
(b) Profit
(c) Interest
(d) Share

Answer: (d)

18. The Head of the Hindu undivided Family Business is called

(a) Proprietor
(b) Director
(c) Karta
(d) Manager

Answer: (c)

19. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Producers' cooperative
(b) Sleeping partner
(c) Housing cooperative
(d) Credit cooperative

Answer: (c)

20. A partner whose association with the firm is unknown to the general public is called
(a) Active partner
(b) Sleeping partner
(c) Nominal partner
(d) Secret partner

Answer: (d)

21. A sole proprietor has

(a) Limited liability
(b) Unlimited liability
(c) No liability for debts
(d) Joint liability

Answer: (b)

22. Maximum number of members in a private company can be

(a) 20
(b) 10
(c) 50
(d) 200

Answer: (d)

23. Minimum number of members to form a public company is

(a) 5
(b) 12
(c) 7
(d) 21

Answer: (c)

24. Application for approval of name of a company is to be made to

(a) SEBI
(b) Registrar of Companies
(c) Government of India
(d) Government of the State in which Company is to be registered

Answer: (b)

25. A proposed name of Company is considered undesirable If

(a) It is identical with the name of some other company
(b) It resembles closely with the name of an existing company
(c) It is an emblem of Government of India, United Nations, etc.
(d) In case of any of the above
Answer: (d)