Online CA CPT Mock Test 1
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Information
Online CPT Mock Test
First session : Accounts -60 Marks. Mercantile Laws: 40 Marks
Second Session : Economics-50 Marks, Quantitative Aptitude-50 Marks
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- Answered
- Review
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Question 1 of 200
1. Question
Category: FUNDAMENTAL OF ACCOUNTINGA bill of exchange is drawn by a———-
Correct
Incorrect
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Question 2 of 200
2. Question
Category: FUNDAMENTAL OF ACCOUNTINGPremium on issue of shares can be used for——–
Correct
Incorrect
-
Question 3 of 200
3. Question
Category: FUNDAMENTAL OF ACCOUNTINGWhen a new partner brings his share of goodwill in cash, the amount is debited to ——–
Correct
Incorrect
-
Question 4 of 200
4. Question
Category: FUNDAMENTAL OF ACCOUNTINGMr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs. 40,000 and Rs. 50,000 respectively on the 1st of July, 2016.
Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on31st December, 2016. Interest on capital is
Correct
Incorrect
-
Question 5 of 200
5. Question
Category: FUNDAMENTAL OF ACCOUNTINGA purchased a computer costing Rs. 10,000. Repairing expenses Rs. 1,000 and
miscellaneous expenses Rs. 500 were incurred by him. He sold the computer at 20%
margin on selling price. The sales value will beCorrect
Incorrect
-
Question 6 of 200
6. Question
Category: FUNDAMENTAL OF ACCOUNTINGMohit, the acceptor of the bill has to honour a bill on 31st March 2016. Due to financial
crisis, he is unable to pay the amount of bill of Rs. 20,000. Therefore, he approaches
Rohit on 20th March 2016 for extension of bill for further 3 months. Rohit agrees to extend
the credit period by drawing a new bill for Rs. 20,500 together with interest of Rs. 1,000
in cash. In this case, old bill of Rs. 20,000 will be considered asCorrect
Incorrect
-
Question 7 of 200
7. Question
Category: FUNDAMENTAL OF ACCOUNTINGE Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro rata basis.
The amount payable on application is Rs.2. F applied for 420 shares. Calculate the
number of shares allotted and the amount carried forward for adjustment against
allotment money due from F.Correct
Incorrect
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Question 8 of 200
8. Question
Category: FUNDAMENTAL OF ACCOUNTINGOn 31st March 2016, Suraj has to pay to M/s Chandra and Co. Rs. 7,000 on account of
credit purchase from the later. He paid Rs. 1,800 on 30th June 2016 after availing a cash
discount of 10%. On 30th September 2016, he paid Rs. 2,850 after availing 5% cash
discount. On account of final settlement, the amount to be paid by Suraj without any
discount will beCorrect
Incorrect
-
Question 9 of 200
9. Question
Category: FUNDAMENTAL OF ACCOUNTINGOn 1.1.2017, a machine costing Rs. 10,000 and a piece of furniture costing Rs. 20,000
was purchased. Depreciation is provided @ 5% p.a. on furniture and 10% per annum on
machine. The depreciation for the year ended 31st March, 2017 should be:Correct
Incorrect
-
Question 10 of 200
10. Question
Category: FUNDAMENTAL OF ACCOUNTINGMr. A sent 250 units costing Rs. 10,000 each to Mr. B. Mr. B sold 150 units @ Rs. 14,200
per unit on credit and 75 units @ Rs. 14,000 for cash. Mr. B is entitled to a commission
Rs.500 per unit. The amount of commission will be:Correct
Incorrect
-
Question 11 of 200
11. Question
Category: FUNDAMENTAL OF ACCOUNTINGGama Ltd. issued 10,000, 10% debentures of Rs. 100 each at a discount of 10%. The
entire amount is payable on application. Application were received for 12,000
debentures. The allotment of debentures was made on 10th October, 2017. The amount
which should be credited to the debentures account on 10th October, 2017 will be:Correct
Incorrect
-
Question 12 of 200
12. Question
Category: FUNDAMENTAL OF ACCOUNTING51. On January 1, 2017 Victory Ltd., purchased a second hand machinery for Rs. 50,000 and
spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty,
Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges,
Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of
machinery is———-Correct
Incorrect
-
Question 13 of 200
13. Question
Category: FUNDAMENTAL OF ACCOUNTING3,000 shares of Rs. 10 each of Krishna were forfeited by crediting Rs. 5,000 to share
forfeiture account. Out of these, 1,800 shares were re-issued to Radhe for Rs. 9 per
share. The amount to be transferred to capital reserve account will be—————Correct
Incorrect
-
Question 14 of 200
14. Question
Category: FUNDAMENTAL OF ACCOUNTINGHe, She and Me are partners in a firm sharing profits and losses in the ratio of 5:3:2.
Firm took Separate Life Policy of Rs. 50,000, Rs.1,00,000 and Rs.1,50,000 for He, She
and Me respectively. The share of Me in the policy will be:Correct
Incorrect
-
Question 15 of 200
15. Question
Category: FUNDAMENTAL OF ACCOUNTINGOpening stock of the year is Rs. 20,000, Goods purchased during the year is
Rs. 1,00,000, Carriage Rs. 2,000 and Selling expenses Rs. 2,000. Sales during the year
is Rs. 1,50,000 and closing stock is Rs. 25,000. The gross profit will be:Correct
Incorrect
-
Question 16 of 200
16. Question
Category: FUNDAMENTAL OF ACCOUNTING18% investment of Rs. 1,00,000 and interest received on investment Rs. 15,000 have
been given in the trial balance for the period ended on 31.3.2017. The amount of interest
outstanding in the final accounts will be ———–Correct
Incorrect
-
Question 17 of 200
17. Question
Category: FUNDAMENTAL OF ACCOUNTINGA second hand car is purchased for Rs. 15000, the amount of Rs. 1000 is spent on its
repairs, Rs. 500 is incurred to get the car registered in owners name and Rs. 1200 is paid
as dealers commission. The amount debited to car account will be—————-Correct
Incorrect
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Question 18 of 200
18. Question
Category: FUNDAMENTAL OF ACCOUNTINGHarsha started business on 01.01.2017 with a capital of Rs. 20,000 and he borrowed
Rs. 3,000 from a friend. He earned a profit of Rs. 10,000 during the year and withdrew
cash Rs. 5,000 for private use. What is his capital at the end of the year?Correct
Incorrect
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Question 19 of 200
19. Question
Category: FUNDAMENTAL OF ACCOUNTINGTotal sales during the year amounted to Rs. 70,000; Cash sales Rs. 10,000; Balance of
trade receivables at the end of the year Rs. 25,000. Cash received from customers
during the year will be——–Correct
Incorrect
-
Question 20 of 200
20. Question
Category: FUNDAMENTAL OF ACCOUNTINGA trader purchased furniture on Jan 1, 2017 for Rs. 5,200. Its scrap value is 200 and life
10 years. Depreciate furniture according to fixed instalment method. Balance of furniture
a/c at the end of third year will be———-Correct
Incorrect
-
Question 21 of 200
21. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe total of debit and credit side of Mr. Hari’s Trial balance as on 31st March, 2017
were Rs. 20,000 and Rs. 10,000 respectively. The difference was transferred to
suspense A/c. On 4th April 2017, it was found that the total of sales book was carried
forward as 5,000 instead of 4,000. The balance of suspense A/c after rectification of this
error will be ———–Correct
Incorrect
-
Question 22 of 200
22. Question
Category: FUNDAMENTAL OF ACCOUNTINGGoodwill is to be calculated at one year’s purchase of the average of the last 3 years
profit. The profit of the first year was Rs. 6,000, second year twice the profit of the first
year and the third year one and half times of the profit of the second year goodwill
amount will be———-Correct
Incorrect
-
Question 23 of 200
23. Question
Category: FUNDAMENTAL OF ACCOUNTINGRegal Ltd. issued 25,000 equity shares of Rs.100 each at a premium of Rs. 15 each
payable as Rs. 25 on application, Rs. 40 on allotment and balance in the first call. The
applications were received for 75,000 equity shares but the company issued to them only
25,000 shares. Excess money was refunded to them after adjustment for further calls.
Last call on 500 shares were not received and were forfeited after due notice. The above
is the case ofCorrect
Incorrect
-
Question 24 of 200
24. Question
Category: FUNDAMENTAL OF ACCOUNTING1,000 kg of oranges are consigned to a wholesaler, the cost being Rs. 8 per kg, plus
Rs. 925 of freight. It is concluded that a loss of 15% is unavoidable. The cost per kg of
orange will be———Correct
Incorrect
-
Question 25 of 200
25. Question
Category: FUNDAMENTAL OF ACCOUNTINGMahalakshmi Ltd. issued 15,000, 15% debentures of Rs.100 each at a premium of 10%, which
are redeemable after 10 years at a premium of 20%. The amount of loss on redemption
of debentures to be written off every year is————Correct
Incorrect
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Question 26 of 200
26. Question
Category: FUNDAMENTAL OF ACCOUNTINGKarun Ltd. has issued 14% Debentures of Rs. 10,00,000 on April 01, 2014 and the
company pays interest half-yearly on June 30, and December 31, every year. On
March 31, 2016, the amount shown as “interest accrued but not due” in the Balance
Sheet will be:Correct
Incorrect
-
Question 27 of 200
27. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe plant and machinery account of a firm had a debit balance of Rs. 1,47,390 (before
charging depreciation for the year) as on 31st December, 2016. On 1st Jan., 2013 Co. started
business and has been following the practice of charging full year’s depreciation every year
on Diminishing balance method @ 15%. Cost of machinery on 01.01.2013 will be———Correct
Incorrect
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Question 28 of 200
28. Question
Category: FUNDAMENTAL OF ACCOUNTINGDouble column cash book records———-
Correct
Incorrect
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Question 29 of 200
29. Question
Category: FUNDAMENTAL OF ACCOUNTINGAll of the following have debit balance except———–
Correct
Incorrect
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Question 30 of 200
30. Question
Category: FUNDAMENTAL OF ACCOUNTINGSalary and wages is debited to——-
Correct
Incorrect
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Question 31 of 200
31. Question
Category: FUNDAMENTAL OF ACCOUNTINGFluctuating capital account is credited with———–
Correct
Incorrect
-
Question 32 of 200
32. Question
Category: FUNDAMENTAL OF ACCOUNTINGA manager gets 5% commission on net profit after charging such commission. Gross
profit Rs. 48,000 and expenses of indirect nature other than manager’s commission are
Rs. 6,000.
Commission amount will beCorrect
Incorrect
-
Question 33 of 200
33. Question
Category: FUNDAMENTAL OF ACCOUNTINGBirbal drew a three month bill on Satyapal for Rs. 5,000. On due date Satyapal
approached Birbal to renew the bill for another month @ 12% p.a. Amount of the new bill
will be———-Correct
Incorrect
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Question 34 of 200
34. Question
Category: FUNDAMENTAL OF ACCOUNTINGA limited company forfeited 100 equity shares of the face value of Rs. 10 each, for non-
payment of first call of Rs. 2 per share. The forfeited shares were subsequently reissuedas fully paid @ 7 each. Amount transferred to capital reserve will be
Correct
Incorrect
-
Question 35 of 200
35. Question
Category: FUNDAMENTAL OF ACCOUNTINGNet salary paid to employees Rs. 45,000 in cash after deducting income tax Rs. 1,000,
professional tax Rs. 200, employees provident fund Rs. 2,000, staff welfare fund Rs. 100
and recovery of loan Rs. 1,700. Salary A/c will be debited with ——–Correct
Incorrect
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Question 36 of 200
36. Question
Category: FUNDAMENTAL OF ACCOUNTINGA manager gets 5% commission on sales. Cost price of goods sold is Rs. 40,000 which
he sells at a margin of 20% on sale. Commission will be——-Correct
Incorrect
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Question 37 of 200
37. Question
Category: FUNDAMENTAL OF ACCOUNTINGCompensation paid to retrenched employee is:
Correct
Incorrect
-
Question 38 of 200
38. Question
Category: FUNDAMENTAL OF ACCOUNTINGUnexpired portion of Capital expenditure is shown in——–
Correct
Incorrect
-
Question 39 of 200
39. Question
Category: FUNDAMENTAL OF ACCOUNTINGIf the firm pays Income Tax on behalf of partners, such payment of personal income tax
should be treated as———Correct
Incorrect
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Question 40 of 200
40. Question
Category: FUNDAMENTAL OF ACCOUNTINGRent paid on 1st October, 2015 for the year to 30th September, 2016 was
Rs. 1,200 and rent paid on 1st October, 2016 for the year to 30th September, 2017 was
Rs. 1,600. Rent paid, as shown in the profit and loss account for the year ended 31st
December 2016, would be:Correct
Incorrect
-
Question 41 of 200
41. Question
Category: FUNDAMENTAL OF ACCOUNTINGA company forfeited 1,000 shares of Rs. 20 each (which were issued at par) held by
Mr. Mohan for non-payment of allotment money of Rs. 8 per share and further call
money. The called-up value per share was Rs. 18. On forfeiture, the amount debited to
share capital will be———–Correct
Incorrect
-
Question 42 of 200
42. Question
Category: FUNDAMENTAL OF ACCOUNTINGG Ltd. acquired assets worth Rs. 7,50,000 from H Ltd. by issue of shares of Rs. 100 each
at a premium of 25%. The number of shares to be issued by G Ltd. to settle the
purchase consideration of assets will be_________Correct
Incorrect
-
Question 43 of 200
43. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe subscribed share capital of S Ltd. is Rs. 80,00,000 of Rs. 100 each. There were no
calls in arrear till the final call was made. The final call made was paid on 77,500 shares.
The calls in arrear amounted to Rs. 62,500. The final call on each share will
be———-Correct
Incorrect
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Question 44 of 200
44. Question
Category: FUNDAMENTAL OF ACCOUNTINGRaghu’s acceptance to Maruthi for Rs 8,000 renewed for 3 months on the condition that
Rs. 4,000 be paid in cash immediately and the remaining amount will carry interest @
12% p.a. The amount of interest will be———–Correct
Incorrect
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Question 45 of 200
45. Question
Category: FUNDAMENTAL OF ACCOUNTINGSumith Ltd. purchased a machine on 1.1.2016 for Rs 1,20,000. Installation expenses were
Rs. 10,000. Residual value after 10 years Rs. 5,000. On 01.07.2016, expenses for
repairs were incurred to the extent of Rs. 2,000. Depreciation is provided under straight
line method. Annual Depreciation will be ________Correct
Incorrect
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Question 46 of 200
46. Question
Category: FUNDAMENTAL OF ACCOUNTINGSundry debtors on 31st March 2016 are Rs. 55,200. Further bad debts are Rs.200.
Provision for doubtful debts are to be made on debtors @ 5% and also provision of
discount is to be made on debtors @ 2%. The amount of provision of doubtful debts will be———Correct
Incorrect
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Question 47 of 200
47. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe balance of machine on 31st March 2016 is Rs. 72,900 (after charging depreciation of
the year). The machine was purchased on 1st April 2013 charging depreciation @ 10%
p.a. by diminishing balance method. The cost price of the machine as on 1st April 2013
would be————Correct
Incorrect
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Question 48 of 200
48. Question
Category: FUNDAMENTAL OF ACCOUNTINGEstimated life of an asset is 10 years and estimated scrap value is Rs. 3,200. Depreciation as per SLM is charged
at Rs. 2,500 every year on the asset. Find the cost of the asset.
Correct
Incorrect
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Question 49 of 200
49. Question
Category: FUNDAMENTAL OF ACCOUNTINGMr. A is a partner in a firm along with Mr. B. Both contributed capitals of
Rs. 40,000 and Rs. 50,000 respectively on the 1st of July, 2016. Interest on capital is to
be charged @ 10% p.a. Books of account are to be closed on
31st December, 2016. Interest on capital is——–Correct
Incorrect
-
Question 50 of 200
50. Question
Category: FUNDAMENTAL OF ACCOUNTINGWhen the shares are issued at premium and the premium has already received by the
company later on, if such shares are forfeited———Correct
Incorrect
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Question 51 of 200
51. Question
Category: FUNDAMENTAL OF ACCOUNTINGA sent some goods costing Rs. 3,500 at a profit of 25% on sale to B on sale or return
basis. B returned goods costing to A Rs. 800. At the end of the accounting period i.e. on
31st December, 2016, the remaining goods were neither returned nor were approved by
him. The stock on approval will be shown in the balance sheet at——-Correct
Incorrect
-
Question 52 of 200
52. Question
Category: FUNDAMENTAL OF ACCOUNTINGUnintentional omission or commission of amounts and accounts in the process of
recording transactions are known as——–Correct
Incorrect
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Question 53 of 200
53. Question
Category: FUNDAMENTAL OF ACCOUNTINGIn the bank reconciliation statement, when balance as per the cash book is taken as the
starting point, then direct deposits from the customer of Rs. 2,500 in the bank will be—-Correct
Incorrect
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Question 54 of 200
54. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe total cost of goods available for sale with a company during the current year is
Rs. 12,00,000 and total sales during the period is Rs. 13,00,000. If the gross profit
margin of the company is 331/3% on cost, the closing inventory during the current year is——-Correct
Incorrect
-
Question 55 of 200
55. Question
Category: FUNDAMENTAL OF ACCOUNTINGOn January 1, 2016 Victory Ltd., purchased a second hand machinery for Rs. 50,000 and
spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty,
Rs. 1,000 as carriage inwards, Rs. 500 is repair charges, Rs. 200 as installation charges,
Rs. 400 as brokerage of the middle man and Rs. 100 for an iron pad. Total cost of
machinery is———-Correct
Incorrect
-
Question 56 of 200
56. Question
Category: FUNDAMENTAL OF ACCOUNTINGIf bank balance as per cash book differs from that appearing in the current account
statement, then the balance considered for finalizing the accounts is of——–Correct
Incorrect
-
Question 57 of 200
57. Question
Category: FUNDAMENTAL OF ACCOUNTINGA company issued 1,00,000 equity shares of Rs.10 each at a premium of Rs. 2 and 5,000
10% Debentures of Rs. 100 each at 10% discount. All the shares and debentures were
subscribed and allotted by crediting 10% Debentures account with——–Correct
Incorrect
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Question 58 of 200
58. Question
Category: FUNDAMENTAL OF ACCOUNTING3,000 shares of Rs. 10 each of Krishna were forfeited by crediting Rs. 5,000 to share
forfeiture account. Out of these, 1,800 shares were re-issued to Radhe for Rs. 9 per
share. The amount to be transferred to capital reserve account will be——–Correct
Incorrect
-
Question 59 of 200
59. Question
Category: FUNDAMENTAL OF ACCOUNTINGOpening stock of the year is Rs. 20,000, Goods purchased during the year is
Rs. 1,00,000, Carriage Rs. 2,000 and Selling expenses Rs. 2,000. Sales during the year
is Rs. 1,50,000 and closing stock is Rs. 25,000. The gross profit will be:Correct
Incorrect
-
Question 60 of 200
60. Question
Category: FUNDAMENTAL OF ACCOUNTINGThe equality of debits and credits can be tested periodically by preparing a ——
Correct
Incorrect
-
Question 61 of 200
61. Question
Category: MERCANTILE LAWSGoods which are in existence at the time of the Contract of Sale is known as———-
Correct
Incorrect
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Question 62 of 200
62. Question
Category: MERCANTILE LAWSThe doctrine of Caveat Emptor does not apply, when———-
Correct
Incorrect
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Question 63 of 200
63. Question
Category: MERCANTILE LAWSWhere the goods are delivered to a carrier or wharfinger for the purpose of transmission
to the buyer, the delivery is——Correct
Incorrect
-
Question 64 of 200
64. Question
Category: MERCANTILE LAWSA agrees to pay Rs. One Lakh to B if he brings on earth a star from sky. This is a
contingent contract and———-Correct
Incorrect
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Question 65 of 200
65. Question
Category: MERCANTILE LAWSA minor’s liability for necessaries supplied to him——
Correct
Incorrect
-
Question 66 of 200
66. Question
Category: MERCANTILE LAWSWhich of the following is not the right of a partner i.e., which he cannot claim as a matter of right?
Correct
Incorrect
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Question 67 of 200
67. Question
Category: MERCANTILE LAWSIn case of illegal agreements, the collateral agreements are:
Correct
Incorrect
-
Question 68 of 200
68. Question
Category: MERCANTILE LAWSA partner may be expelled from the firm on the fulfillment of the condition that the
expulsion power is exercised.Correct
Incorrect
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Question 69 of 200
69. Question
Category: MERCANTILE LAWSOn which of the following grounds, a partner may apply to the court for dissolution of the firm?
Correct
Incorrect
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Question 70 of 200
70. Question
Category: MERCANTILE LAWSWhich of the following is not an exception to the rule- No Consideration, No contract?
Correct
Incorrect
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Question 71 of 200
71. Question
Category: MERCANTILE LAWSThe term “goods” under Sale of Goods Act, 1930 does not include——–
Correct
Incorrect
-
Question 72 of 200
72. Question
Category: MERCANTILE LAWSA contingent contract dependent on the non-happening of a future uncertain event
becomes void when such eventCorrect
Incorrect
-
Question 73 of 200
73. Question
Category: MERCANTILE LAWSA, B and C jointly promised to pay Rs. 60,000 to D. A was compelled by D to pay the
entire amount of Rs. 60,000. Here———–Correct
Incorrect
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Question 74 of 200
74. Question
Category: MERCANTILE LAWSA threatens to kill B if he does not agree to sell his scooter to him for Rs. 5,000. Here, B’s consent is obtained by:
Correct
Incorrect
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Question 75 of 200
75. Question
Category: MERCANTILE LAWSSuppose you have entered into a partnership agreement and the partnership deed
provides neither for the duration nor for the determination of our partnership. What is the
technical expression for this kind of partnership?Correct
Incorrect
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Question 76 of 200
76. Question
Category: MERCANTILE LAWSA agrees to deliver his old car valued at Rs. 80,000 to B, a car dealer, in exchange for a
new car, and agrees to pay the difference in cash it is———Correct
Incorrect
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Question 77 of 200
77. Question
Category: MERCANTILE LAWSWhen offer is made to a definite person, it is known as———-
Correct
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Question 78 of 200
78. Question
Category: MERCANTILE LAWSSelection of goods with the intention of using them in performance of the contract and
with the mutual consent of the seller and the buyer is known as————-Correct
Incorrect
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Question 79 of 200
79. Question
Category: MERCANTILE LAWSIn case of illegal agreements, the collateral agreements are:
Correct
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Question 80 of 200
80. Question
Category: MERCANTILE LAWSOn dissolution the partners remain liable till:
Correct
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Question 81 of 200
81. Question
Category: MERCANTILE LAWSWhich one of the following is/are document of title to goods?
Correct
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Question 82 of 200
82. Question
Category: MERCANTILE LAWSA partner can retire on:
Correct
Incorrect
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Question 83 of 200
83. Question
Category: MERCANTILE LAWSWhich of the following is not an implied condition in a contract of sale?
Correct
Incorrect
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Question 84 of 200
84. Question
Category: MERCANTILE LAWSThe special damages, i.e., the damages which arise due to some special or unusual
circumstances——-Correct
Incorrect
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Question 85 of 200
85. Question
Category: MERCANTILE LAWSSometimes, a party is entitled to claim compensation in proportion to the work done by
him. It is possible by a suit for———-Correct
Incorrect
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Question 86 of 200
86. Question
Category: MERCANTILE LAWSA stipulation in a contract of sale of goods whose violation by seller gives a right of
rescission to buyer, is called———-Correct
Incorrect
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Question 87 of 200
87. Question
Category: MERCANTILE LAWSSuppose the time fixed for performance of the contract has expired but the time is not essential.
What is the remedy to the promisee in the circumstances?Correct
Incorrect
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Question 88 of 200
88. Question
Category: MERCANTILE LAWSWhat is legal terminology for the doing or not doing of something which the promisor desires
to be done or not done?Correct
Incorrect
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Question 89 of 200
89. Question
Category: MERCANTILE LAWSGoods must be the same as wanted by the buyer. This is——-
Correct
Incorrect
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Question 90 of 200
90. Question
Category: MERCANTILE LAWSWhich of the following is a not document of title to goods?
Correct
Incorrect
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Question 91 of 200
91. Question
Category: MERCANTILE LAWSX and Y agree to work together as carpenters but X shall receive all profit and shall pay
wages to Y. The relation between X and Y is that———-Correct
Incorrect
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Question 92 of 200
92. Question
Category: MERCANTILE LAWSR, an optical surgeon, employs S as the assistant for a term of three years and S agrees not to
practice as a surgeon during this period. This contract is _________Correct
Incorrect
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Question 93 of 200
93. Question
Category: MERCANTILE LAWSA agrees to pay Rs. 500 to B if it rains, and B promises to pay a like amount to A if it does not
rain, this agreement is called ___________.Correct
Incorrect
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Question 94 of 200
94. Question
Category: MERCANTILE LAWSWhen the offeree offers to qualified acceptance of the offer subject to modifications and
variations he is said to have made a ___________.Correct
Incorrect
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Question 95 of 200
95. Question
Category: MERCANTILE LAWSA agrees to pay Rs. 1000 to B if a certain ship returns within a year. However, the ship sinks
within the year. In this case, the contract becomes———-Correct
Incorrect
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Question 96 of 200
96. Question
Category: MERCANTILE LAWSThe Sale of Goods Act, 1930 came into force on __________.
Correct
Incorrect
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Question 97 of 200
97. Question
Category: MERCANTILE LAWSWhere the goods are delivered to a carrier or wharfinger for the purpose of transmission to
the buyer, the delivery is __________.Correct
Incorrect
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Question 98 of 200
98. Question
Category: MERCANTILE LAWSA enquires from B, “Will you purchase my cow for Rs. 100?” B replies, “I shall purchase your
cow for Rs. 100 provided you purchase my parrot for Rs. 120.” In this case ——–Correct
Incorrect
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Question 99 of 200
99. Question
Category: MERCANTILE LAWSA sold 1000 tins of oil to B without appropriating any particular oil to the contract. B sold
600 tins out it to C and gave delivery order addressed to A. C lodged the delivery order with
A requesting him to “await” his orders. Meanwhile, B became insolvent and thus A became
the unpaid seller.Correct
Incorrect
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Question 100 of 200
100. Question
Category: MERCANTILE LAWSX fraudulently induced Y to enter into partnership with him and Y pays a premium of
Rs.5,000/- to A. Within three months the firm incurs liabilities to the extent of Rs.10,000/-.
On discovering the fraud, Y files a suit for the rescission of the contract creating partnership
and contract is rescinded. The creditors of the firm also levy attachment on Y who pays
Rs.3,000/- to them as well. Which of the following is correct?Correct
Incorrect
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Question 101 of 200
101. Question
Category: GENERAL ECONOMICSWho said “Economics is a science of dynamic growth and development”?
Correct
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Question 102 of 200
102. Question
Category: GENERAL ECONOMICSIf marginal opportunity cost is falling, the PPF would be———–
Correct
Incorrect
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Question 103 of 200
103. Question
Category: GENERAL ECONOMICSCalculate Income-elasticity for a household when the income of this household rises by
5% and the demand for buttons does not change at all.Correct
Incorrect
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Question 104 of 200
104. Question
Category: GENERAL ECONOMICSIf the goods are perfect substitutes for each other then cross elasticity is———
Correct
Incorrect
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Question 105 of 200
105. Question
Category: GENERAL ECONOMICSIndifference curve is convex to the origin due to———
Correct
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Question 106 of 200
106. Question
Category: GENERAL ECONOMICSWhich of the following is not included in the stages of capital formation?
Correct
Incorrect
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Question 107 of 200
107. Question
Category: GENERAL ECONOMICSFDI permitted in defense sector in India under automatic route ———-
Correct
Incorrect
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Question 108 of 200
108. Question
Category: GENERAL ECONOMICSEconomic Reforms in India were started in the year———-
Correct
Incorrect
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Question 109 of 200
109. Question
Category: GENERAL ECONOMICSDFEC stands far——-
Correct
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Question 110 of 200
110. Question
Category: GENERAL ECONOMICSIf any country needs funds for long term development of the nation, then the country
should approach————-Correct
Incorrect
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Question 111 of 200
111. Question
Category: GENERAL ECONOMICSIn a typical demand schedule, quantity demanded———–
Correct
Incorrect
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Question 112 of 200
112. Question
Category: GENERAL ECONOMICSWhen the perfectly competitive firm and industry are in long run equilibrium then—————-
Correct
Incorrect
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Question 113 of 200
113. Question
Category: GENERAL ECONOMICSIn monopoly, the relationship between average and marginal revenue curves is as follows—————
Correct
Incorrect
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Question 114 of 200
114. Question
Category: GENERAL ECONOMICSAll of the following are U shaped curves except the———-
Correct
Incorrect
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Question 115 of 200
115. Question
Category: GENERAL ECONOMICSFrom the national point of view which of the following indicates micro approach?
Correct
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Question 116 of 200
116. Question
Category: GENERAL ECONOMICSThe total effect of a price change of a commodity is————–
Correct
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Question 117 of 200
117. Question
Category: GENERAL ECONOMICSWhich of the following is not a part of Fiscal policy?
Correct
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Question 118 of 200
118. Question
Category: GENERAL ECONOMICSThe following are some of the costs of a clothing manufacturer. State which among them will you consider as fixed cost?
Correct
Incorrect
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Question 119 of 200
119. Question
Category: GENERAL ECONOMICSThe difference between GNP and NNP equals————
Correct
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Question 120 of 200
120. Question
Category: GENERAL ECONOMICSNational income at market prices, plus subsidies, but less indirect taxes is equal to which
one of the following?Correct
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Question 121 of 200
121. Question
Category: GENERAL ECONOMICSAll but one of the following statements are incorrect. Find the correct statement.
Correct
Incorrect
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Question 122 of 200
122. Question
Category: GENERAL ECONOMICSIn which state is the sex ratio most favourable to women?
Correct
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Question 123 of 200
123. Question
Category: GENERAL ECONOMICSAn underdeveloped economy is generally characterized by a———–
Correct
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Question 124 of 200
124. Question
Category: GENERAL ECONOMICSWhich institution is known as the “soft loan window” of World Bank?
Correct
Incorrect
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Question 125 of 200
125. Question
Category: GENERAL ECONOMICSIn order to encourage investment in the country, the RBI may————-
Correct
Incorrect
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Question 126 of 200
126. Question
Category: GENERAL ECONOMICSA strategy of heavy industry is sometimes preferred for a developing economy because it can————
Correct
Incorrect
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Question 127 of 200
127. Question
Category: GENERAL ECONOMICSThe branch of economic theory that deals with the problem of allocation of resources is———
Correct
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Question 128 of 200
128. Question
Category: GENERAL ECONOMICSProduction may be defined as an act of———-
Correct
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Question 129 of 200
129. Question
Category: GENERAL ECONOMICSThe sale of branded articles is common in a situation of———-
Correct
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Question 130 of 200
130. Question
Category: GENERAL ECONOMICS———- concept of Budget deficit has become practically redundant in India.
Correct
Incorrect
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Question 131 of 200
131. Question
Category: GENERAL ECONOMICSDemand for electricity is elastic because————
Correct
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Question 132 of 200
132. Question
Category: GENERAL ECONOMICSThe cost that firm incurs in hiring or purchasing any factor of production is referred to as———-
Correct
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Question 133 of 200
133. Question
Category: GENERAL ECONOMICSThe main security guard for International Trade is———
Correct
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Question 134 of 200
134. Question
Category: GENERAL ECONOMICSPopulation density means———–
Correct
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Question 135 of 200
135. Question
Category: GENERAL ECONOMICSNABARD is a—————
Correct
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Question 136 of 200
136. Question
Category: GENERAL ECONOMICSIf two goods were perfect substitutes of each other, it necessarily follows that
Correct
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Question 137 of 200
137. Question
Category: GENERAL ECONOMICSThe MC curve cuts the AVC and ATC curves———–
Correct
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Question 138 of 200
138. Question
Category: GENERAL ECONOMICSIn general, most of the production functions measure———–
Correct
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Question 139 of 200
139. Question
Category: GENERAL ECONOMICSWhich of the following market situations explains marginal cost equal to price for attaining
equilibrium?Correct
Incorrect
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Question 140 of 200
140. Question
Category: GENERAL ECONOMICSThe period of time in which the plant capacity can be varied is known as————-
Correct
Incorrect
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Question 141 of 200
141. Question
Category: GENERAL ECONOMICSA monopolist who is selling in two markets in which demand is not identical will be
unable to maximize his profits unless he———–Correct
Incorrect
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Question 142 of 200
142. Question
Category: GENERAL ECONOMICSWhich of the following is not microeconomic subject matter?
Correct
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Question 143 of 200
143. Question
Category: GENERAL ECONOMICSWhich of the following is a reason for the negative slope of the PPF?
Correct
Incorrect
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Question 144 of 200
144. Question
Category: GENERAL ECONOMICSOil and Natural Gas Corporation Indian Oil Corporation, Steel Authority of India, and
Bharat Heavy Electricals are all examples of———–Correct
Incorrect
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Question 145 of 200
145. Question
Category: GENERAL ECONOMICSWhich of the following statements is correct with regard to external sector in the pre-
reform period?Correct
Incorrect
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Question 146 of 200
146. Question
Category: GENERAL ECONOMICSGiffen goods are those goods—————
Correct
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Question 147 of 200
147. Question
Category: GENERAL ECONOMICSThree methods of computing national income are——————–
Correct
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Question 148 of 200
148. Question
Category: GENERAL ECONOMICSWhen AR = Rs. 10 and AC = Rs. 8 the firm makes———–
Correct
Incorrect
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Question 149 of 200
149. Question
Category: GENERAL ECONOMICSIf two goods are complements, this means that a rise in the price of one commodity will
induce—————-Correct
Incorrect
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Question 150 of 200
150. Question
Category: GENERAL ECONOMICS—————- is a systematic record of all the economic transactions between one country
and rest of the world.Correct
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Question 151 of 200
151. Question
Category: QUNTITATIVE APTITUDEA sample survey is prone to————
Correct
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Question 152 of 200
152. Question
Category: QUNTITATIVE APTITUDESimple Aggregative Method is used for computing a—————
Correct
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Question 153 of 200
153. Question
Category: QUNTITATIVE APTITUDEThe algebraic sum of deviations of a set of observations from their A.M. is————-
Correct
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Question 154 of 200
154. Question
Category: QUNTITATIVE APTITUDENumber of petals in a flower is an example of————-
Correct
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Question 155 of 200
155. Question
Category: QUNTITATIVE APTITUDEA Qualitative characteristic is known as———-
Correct
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Question 156 of 200
156. Question
Category: QUNTITATIVE APTITUDEMethods that are employed for the collection of primary data———
Correct