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Home » IAS Sample Papers » Commerce & Accountancy Sample Papers » Commerce Practice Paper For Civil Service Examination (UPSC): SOLVED PART - 3

Commerce Practice Paper For Civil Service Examination (UPSC): SOLVED PART - 3


61. To which one of the following aspects does an established pattern of relationships among the components of an organization refer ?
(A) Organization strategy
(B) Organization structure
(C) Organization process
(D) Organization policy

62. Consider the following statements—
1. Authority in an organization is the formal or institutional right to command stemming from official delegation of position.
2. Legitimate power is the right to manage derived from delegation based on ownership or property rights.
Which of the statements given above is/are correct ?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

63. Which one of the following is not correct in respect of the Theory X?
(A) It emphasizes that most average human beings avoid to be led, want to lead
(B) According to the theory X, the Managers tend to be autocratic
(C) The theory X assumes that most human beings must be directly controlled in order to achieve organizational goals
(D) The theory X assumes that most individuals have little ambition and want security

64. When Maslow's need hierarchy is compared with Herzberg's two-factor theory of motivation, which of the following statements are correct ?
1. Maslow's psychological needs; security, safety and affiliation or acceptance represent almost the same meanings as Herzberg's maintenance factor.
2. Esteem or status is also a part of maintenance factor.
3. Self-actualization can be compared as a component of motivators as in Herzberg's theory.
Select the correct answer using the code given below—
(A) 1, 2 and 3
(B) 1 and 2 only
(C) 2 and 3 only
(D) 1 and 3 only

65. Which one of the following is not an element of direction ?
(A) Planning and organizing various resources for doing work
(B) Continuous training activity in which subordinates are instructed to carry out a particular assignment
(C) Motivation of subordinates to try to meet the expectations of manager
(D) Maintaining discipline and rewarding those who perform properly

66. Consider the following statements in respect of PERT—
1. PERT is a variation of milestone budgeting.
2. PERT employs probabilistic estimate of time required for completion of an activity.
3. PERT also includes the transfer of resources for reduction of duration of completion of a project.
Which of the statements given above are correct ?
(A) 1, 2 and 3
(B) 1 and 2 only
(C) 2 and 3 only
(D) 1 and 3 only

67. Some organizations have escalator clause in their labour agreements.
What does this clause provide for ?
(A) Automatic increase in wage/salary depending on seniority
(B) Wage increase depending on output per day by the worker
(C) Automatic increase in wage/salary depending upon increase in price index
(D) Automatic increase in wage/salary depending on increase in profits of the firm

68. What is an organization structure in which each employee reports to both a functional (or division) manager and to a project (or group) manager, known as ?
(A) Strategic business unit
(B) Departmentation by customer
(C) Matrix structure
(D) Departmentation by territory

69. According to force-field theory, every behaviour is the result of equilibrium between which of the following ?
(A) Push and pull effect
(B) Strong and weak forces
(C) Positive and negative forces
(D) Driving and restraining forces

70. Life insurance is a contract of which one of the following ?
(A) Indemnity
(B) Guarantee
(C) Contribution
(D) Subrogation

71. What is outsourcing of production and concentrating on marketing operations in international business, known as ?
(A) Licensing
(B) Franchising
(C) Contract manufacturing
(D) Joint venture

72. Which of the following is not a feature of bonds ?
(A) Par value
(B) Yield to maturity
(C) Coupon rate
(D) Maturity

73. On 1st April, 2006, Y Ltd. Issued 1000, 12% debentures of Rs. 100 each at a discount of 6%. These debentures are redeemable in five equal annual installments at the end of each year. What is the amount of discount to be written off in the first year i.e. on 31st March, 2007, through P & L A/c ?
(A) Rs. 2000
(B) Rs. 1800
(C) Rs. 1200
(D) Rs. 600

74. XYZ Ltd. issued 10,000 shares of Rs. 100 each at Rs. 120 per share with Rs. 25 on application, Rs. 45 on allotment including premium, Rs. 20 on first call and Rs. 30 on final call. Govind who held 200 shares did not pay any call money and his shares were forfeited. What is the amount to be credited to Share Forfeiture Account on forfeiture ?
(A) Rs. 14,000
(B) Rs. 10,000
(C) Rs. 9,000
(D) Rs. 4,000

75. X Ltd. purchased a car from Maruti Udyog Ltd. for Rs. 5,00,000. As per agreement Rs. 80,000 was to be paid in cash and the balance by issue of shares of Rs. 10 each at a premium of Rs. 5 per share. How many shares should X Ltd. issue to Maruti Udyog Ltd. for the car ?
(A) 30,000 shares
(B) 29,000 shares
(C) 28,500 shares
(D) 28,000 shares

76. A company has issued a 20-year bond at Rs. 1000 par value with a coupon rate of 10 per cent. The required rate of return on similar bonds is 12 per cent. What is the current value of the bond ?
(A) Rs. 905•33
(B) Rs. 850•45
(C) Rs. 833•33
(D) Rs. 820•20

77. Consider the following statements—
Current ratio is increased by
1. issue of redeemable preference shares.
2. selling of old furniture for cash.
3. cash realized from debtors.
Which of the statements given above are correct ?
(A) 1 and 2 only
(B) 2 and 3 only
(C) 1 and 3 only
(D) 1, 2 and 3

78. Which one of the following statements is correct ?
When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would
(A) improve liquidity
(B) reduce liquidity
(C) have no effect on liquidity
(D) improve financial position

Sundry Debtors — Rs.15,000
Bills Receivable (B/R) — Rs.12,500
Cash at Bank — Rs.17,500
Stock — Rs.15,000
Profit — Rs.20,000
Creditors — Rs.25,000
Bills Payable (B/P) — Rs.15,000
Sales — Rs.1,00,000
What is the Acid Test Ratio ?
(A) 1•5 : 1
(B) 1•125 : 1
(C) 16 2/3%
(D) 50%

80. Which one of the following transactions changes the current ratio ?
(A) Purchase of goods for cash
(B) Plant acquired on account
(C) Sold goods on credit
(D) Debentures converted into equity capital

81. Few items of P/L A/c of a company are—
Sales — Rs.1,60,000
Closing stock — Rs.38,000
Non-operating Expenses — Rs.800
Non-operating Income — Rs.4,800
Net Profit — Rs.28,000
What is the Operating Profit Ratio ?
(A) 18%
(B) 20%
(C) 15%
(D) 57%

82. Net profit after tax of Rs. 2,00,000 is Rs. 4,00,000. Share capital is Rs. 8,00,000 and revenue reserve is Rs. 2,00,000. What is rate of return on equity ?
(A) 40%
(B) 50%
(C) 60%
(D) 75%

83. Members of a company may apply to which one among the following for relief under the Companies Act, 1956 in cases of oppression ?
(A) Central Government
(B) High Court of Judicature
(C) National Company Law Tribunal
(D) National Company Law Appellate Tribunal

84. A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of the following ?
(A) The date of incorporation
(B) The date at which the company is entitled to commence business
(C) The date of actual receipt of certificate of incorporation
(D) The date of actual commencement of business

85. Which among the following is eligible to issue Shelf Prospectus ?
(A) Any company contemplating for public issue of securities
(B) Any public financial institution
(C) Only manufacturing companies
(D) Only foreign companies engaged in trading in India

86. Which of the following companies do not have the obligation to get its Articles of Association registered along with the Memorandum of Association ?
(A) Public Company limited by shares
(B) Unlimited companies
(C) Private companies limited by shares
(D) Companies limited by guarantee

87. What does management audit imply ?
(A) Complete audit
(B) Detailed audit
(C) Efficiency audit
(D) Interim audit

88. Which one of the following statements is correct ?
(A) Internal audit and Management audit are the same
(B) Internal audit and statutory audit are the same
(C) Internal audit is compulsory in all cases
(D) Statutory audit of company accounts is compulsory

89. Where does an auditor of a cooperative society submit the audit report ?
(A) To the managing committee of the society only
(B) To the Registrar of Cooperative Societies of the State concerned only
(C) To the State Assembly concerned
(D) To the Registrar of Cooperative Societies of the State concerned and a copy to the society

90. Which one of the following statements is correct ?
(A) Audit of an educational institution is compulsory if it is run by a charitable trust
(B) A club is treated as a commercial establishment
(C) The accounts of a charitable trust can be audited by any person who belongs to accountancy profession
(D) Audit of a charitable trust is not compulsory under law

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