HPSC Prelims Commerce 2014 PDF
HPSC Prelims Commerce 2014 PDF
HPSC Prelims Commerce 2014 PDF
2. In case of any defect - Misprint, Missing Question/ s Get the booklet changed.
No complaint shall be entertained after the examination.
3. Before you mark the answer, read the instruction on the OMR Sheet (Answer
Sheet) also before attempting the questions and fill the particulars in the
ANSWER SHEET carefully and correctly.
4. There are FOUR options to each question. Darken only one to which you think is
the right answer. There will be no Negative Marking.
6. The candidates are to ensure that the Answer Sheet is handed over to the room
invigilator only.
7. Rough work, if any, can be done on space provided at the end of the Question
Booklet itself. No extra sheet will be provided in any circumstances.
8. Write the BOOKLET SERIES in the space provided in the answer sheet, by
darkening the corresponding circles.
9. Regarding incorrect questions or answers etc. Candidates kindly see NOTE at the
last page of the Booklet.
KL-14/Comm Series-A
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1. Provision for bad and doubtful debts is created in anticipation of actual bad
debts on the basis of:
(A) Conservatism concept (B) Going concern concept
(C) Full disclosure concept (D) Industry practice
7. A, B and Care three partners sharing profits and losses in the ratio of 4:3:2, D
is admitted for 1/10 share, the new ratio will be:
(A) 5:4:3:2 (B) 4:4:3:2
(C) 4:3:2:1 (D) None ofthese
8. Sec. 3 7 of Partnership Act provides interest on the amount left by the retiring
or deceased partner at:
(A) 5% (B) 6%
(C) Bank rate (D) Prime lending rate
KL14/Comm Series- A 1
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10. On dissolution all assets are transferred to reaslisation account at :
(A) Book value (B) Market value
(C) Cost or market value, whatever is less (D) None of the above
12. Definition of a public company is given in the Indian Companies Act 1956 :
(A) Section 3 (1) (i) (B) Section 3 (1) (ii)
(C) Section 3 (1) (iii) (D) Section 3 (1) (iv)
14. On an equity share ofRs. 10, the minimum amount of share application under
the law should be:
(A) Rs. 0.50 (B) Re. 1
(C) Rs. 2 (D) Rs. 2.50
15. When shares are forfeited, called up amount on shares is debited to:
(A) Forfeiture Account (B) Capital Reserve Account
(C) General Reserve Ale (D) Capital A/c
19. The analysis by a banker for the purpose of granting cash credit is an example
of:
(A) Internal analysis (B) External analysis
(C) Criticai analysis (D) Horizontal analysis
KL14/Comm Series- A 2
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20. Vertical analysis is known as:
(A) Static analysis (B) Structural analysis
(C) Both (A) & (B) (D) Dynamic analysis
27. Generally Auditing is not necessary for small sole trading business because :
(A) Legally it is not necessary
(B) Its scope is limited
(C) Its proprietor has full control on it
(D) None ofthe above
KL14/Comm Series- A 3
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30. Whi ch of the following has a broader scope?
(B) Internal checking
(A) Internal control
(D) Non e of the above
(C) Internal audit
Series- A 4
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40. Under which of the following section of the Companies Act, shares of a
company are issued at a premium?
(A) Section 78 (B) Section 79
(C) Section 81 (D) None ofthe above
42. "A plan is a trap to capture the future". This statement is of:
(A) Newman (B) Hurley
(C) Allen (D) Terry
46. "Wrong organisation structure prevents business performance upto the extent
that it destroys it". This statement is of:
(A) Drucker (B) Terry
(C) Allen (D) Brech
47. Factor which is common to Maslow, Herzberg and McGregor is that they have
propounded theories of:
(A) Control (B) Leadership
(C) Motivation (D) Communication
KL14/Comm Series- A 5
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50. X andY Theory of motivation has been propounded by:
(A) Meslow (B) Ouchi
(C) Herzberg (D) McGregor
51. "The main reason of most business enterprises becoming unsuccessful is the
inefficient leadership." This statement is of:
(A) Koontz and O'Donnell (B) Peter F. Drucker
(C) George R. Terry (D) Mooney and Reley
I 56. The Securities and Exchange Board of India was set up in the year:
(A) 1991 (B) 1992
(C) 1981 (D) 1982
KL14/Comm Series- A 6
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60. A Government company is defined under section of Companies Act
1956.
(A) 617 (B) 617 A(l)
(C) 619 A(2) (D) 620
62. Change ofRegistered office from one state to another state requires:
(A) Ordinary resolution only
(B) Ordinary resolution and sanction of the company law board
(C) Special resolution only
(D) Special resolution and sanction of the company law board.
63. The Doctrine of Ultra Vires implies to those acts which are outside of the
ambit of:
(A) Object clause
(B) Capital clause
(C) Liability clause
(D) All ofthe above
65. Under which of the following section of the Companies Act, Self prospectus is
defined?
W6M セVP@
(C)61A (D)61B
KL14/Comm Series- A 7
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70. Disqualification of Director includes:
(I) Unsound mind (II) Undischarged insolvent
(III) Convicted by a court (IV) failed to pay any call.
(A) I and II
(B) I, II and III
(C) I, II, III and IV
(D) II, III and IV
71. After the commencement of the Companies (Amd.) Act 2000, no person can
be director of more than:
(A) 10 companies (B) 20 companies
(C) 15 companies (D) 12 companies
(A) a and b
(B) band c
(C) c and d
(D) d and a
76. How many day's written notice to every shareholder, director and auditor of
the company to call an annual general meeting is required?
(A) 14 days (B) 15 days
(C) 21 days (D) one month
KL14/Comm Series- A 8
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77. The Board meeting ofthe Directors should be held at least:
(A) 2 times a year (B) 3 times a year
(C) 4 times a year (D) 5 times a year
79. The theory of trusteeship of the business assets was pronounced by:
(A) Henry fayol (B) Mahatma Gandhi
(C) Jawaharlal Nehru (D) Karl Marx
80. In which form of combination, all the member units submit their output on
paper to the central authority which in tum allocates the output to all the
member units:
(A) Pool (B) Gentlement agreement
(C) Cartels (D) Amalgamation
81. "Delegation means assigning work to others and giving them authority to do
it." This statement is given by:
(A) Brech (B) Terry
(C) Allen (D) F.G.Moore
84. A partner who merely lends his name to the firm is called:
(A) Dormant partner (B) Nominal partner
(C) Active partner (D) Partner by holding out
KL14/Comm Series- A 9
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port is issued by: ny
87. 'B ill of lading' in ex (B) Shipping compa
nk
(A) Commercial ba (D) Exporter
ities
(C) Custom author
gins with: e
88. Import procedure be (B) Marine insuranc
(A) Indent (D) Shipping order
e
(C) M at 's Certificat
ty according to:
ea ns imposition of du s
89. Dut y ad va lo ru m m (B) N um be r of item
s ove
(A) Weight of good (D) None of the ab
(C) Value of goods
s for:
ads to higher return eholder
90. Trading on equity le (B) Preference shar
der e
(A) Equity sharehol (D) AU of th e abov
ho ld er
(C) Debenture n as :
in g to th e w ei gh t of goods, it is know
is levied accord
91. When custom duty (B) Specific duty
du ty
(A) A d valo ru m (D) General duty
(C) Excise duty
plicable to:
Pr in ci pl e of ut most good faith is ap
92.
(A) Insurer only
(B) Insured only
d insured
(C) Both insurer an r in other
e policies and insure
(D) Insured in som
t
loss due to :
po licy covers risk of ees
93. Fide lit y in su ra nc e (B) Theft by employ
er e
(A) Theft by outsid (D) All of the abov
su pp lie r
(C) Fraud by
:
ty does not apply to e
94. Principle of ln de m ni (B) Marine insuranc
(A) Life insurance nc e (D) Fire insurance
ar in e in su ra
(C) Life and m
established in:
. Bo m ba y St ock Exchange was (B) 1900
95
(A) 1887 (D) 1925
(C ) 19 12
ravaniwala is a:
In sto ck m ar ke t terminology, a Ta (B) Dealer
96. ove
(A) Broker (D) None of the ab
(C) Agent of br ok er
tive society is :
m em be rs re qu ire d to form a co-opera
ber of
97. The minimum num (B) 5
(A ) 2 (D)20
(C) 10
10
Series- A
KL14/Comm
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98. Which of the following has implied authority to bind HUF firm of his conduct
in business?
(A) Only karta
(B) Only co-parceners of the firm
(C) Karta as well as co-parceners
(D) None of the above
99. Which of the following type of organisation can be wind-up very easily?
KL14/Comm Series- A 11
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