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All 100 questions with answers

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  1. 1.
    The law of demand is a
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    Answer: B —
    Qualitative statement
    The law of demand describes the inverse relationship between price and quantity demanded, which is qualitative in nature.
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  2. 2.
    National Income is
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    Answer: B —
    Net output
    National income is defined as the net output of all goods and services produced by a country during a specific period.
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  3. 3.
    The income method for measuring GNP considers
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    Answer: D —
    All of the above
    The income method calculates GNP by summing all factor incomes, including wages, salaries, rents, and corporate profits.
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  4. 4.
    Which item is included in the capital structure of a company
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    Answer: D —
    All of these
    Capital structure refers to the mix of equity, preference shares, and debt used to finance a company's operations.
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  5. 5.
    When is the capital redemption reserve account opened
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    Answer: B —
    At the time of preference share redemption
    A Capital Redemption Reserve (CRR) is created when a company redeems its redeemable preference shares out of profits.
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  6. 6.
    A company can reduce its issued capital by
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    Answer: C —
    Redemption of redeemable preference shares
    Redemption of redeemable preference shares effectively reduces the issued share capital of the company.
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  7. 7.
    The dividend is the portion of
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    Answer: D —
    Profit of the company
    Dividends are distributions of a company's profits to its shareholders.
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  8. 8.
    The method of raising equity capital from existing members by offering securities on a pro-rata basis is referred to as
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    Answer: C —
    Right issue
    A rights issue allows existing shareholders to purchase additional shares in proportion to their current holdings.
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  9. 9.
    The CAPM model can be explained as a linear relationship between systematic risk and security returns. This relationship is termed as
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    Answer: A —
    Security market line
    The Security Market Line (SML) represents the graphical form of the Capital Asset Pricing Model (CAPM).
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  10. 10.
    Which of the following is not a diversifiable risk factor?
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    Answer: D —
    Economic recession
    Economic recession is a systematic risk that affects the entire market and cannot be eliminated through diversification.
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  11. 11.
    SGR stands for
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    Answer: C —
    Sustainable Growth Rate
    SGR stands for Sustainable Growth Rate, which is the maximum growth rate a firm can sustain without external financing.
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  12. 12.
    Which is the formula for the computation of earnings per share?
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    Answer: D —
    Net profit after tax, interest and preference dividend/Number of equity shares
    Earnings per share (EPS) is calculated as (Net Profit - Preference Dividends) / Number of Equity Shares.
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  13. 13.
    ____________ audit is compulsory for all types of joint stock companies
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    Answer: B —
    Financial Audit
    Financial audit (statutory audit) is mandatory for all joint stock companies under the Companies Act.
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  14. 14.
    Interim audit is conducted to
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    Answer: A —
    To determine the profit of the period
    An interim audit is performed between two annual audits, often to determine the profit for an interim period.
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  15. 15.
    Sales made to Mr.Ram for Rs. 10,000 recorded as Rs. 1000 from the invoice is an example of
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    Answer: C —
    Error of commission
    An error of commission occurs when an entry is recorded with the wrong amount.
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  16. 16.
    Management audit is generally conducted as per the order of
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    Answer: C —
    Board of directors
    Management audit is a voluntary audit conducted at the request of the Board of Directors to evaluate management efficiency.
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  17. 17.
    When an auditor is appointed by the Central Government, who fixes the remuneration of the auditor
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    Answer: B —
    Central Government
    If the auditor is appointed by the Central Government, their remuneration is fixed by the Central Government.
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  18. 18.
    Verification in auditing refers to
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    Answer: A —
    Examination of the actual existence of assets and liabilities appearing in financial statements
    Verification involves establishing the physical existence, legal ownership, and valuation of assets and liabilities.
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  19. 19.
    Accounting of 'related party disclosure' is related to
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    Answer: B —
    Ind AS 24
    Ind AS 24 deals with Related Party Disclosures.
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  20. 20.
    An auditor in general is
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    Answer: D —
    Agent of the shareholders of the company
    The statutory auditor acts as an agent of the shareholders to examine financial records and report on stewardship.
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  21. 21.
    A cost auditor submits the final report to
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    Answer: A —
    Board of directors
    The cost audit report is submitted to the Board of Directors of the company (who forward a copy to the Central Government where mandated).
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  22. 22.
    Which of the following is not a function of an auditor?
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    Answer: D —
    Preparation of final accounts
    Preparation of final accounts is the responsibility of the company's management, not the auditor.
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  23. 23.
    Which of the following constitutes the element under performance audit?
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    Answer: D —
    All of the above
    Performance audit evaluates the 3Es: Economy, Efficiency, and Effectiveness.
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  24. 24.
    According to Sec 2(24) of income T ax Act 1961 which of the following is/are included in the income of an assessee\n(i) Profit and Gains\n(ii) Value of any perquisite in lien of salary\n(iii) Refund of customs or excise duty\n(iv) Consideration for issue of shares
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    Answer: D —
    All of the above
    All the listed items fall under the expansive definition of 'income' under Section 2(24) of the Income Tax Act.
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  25. 25.
    Which of the following incomes are exempted from T ax according to section 10 of the Income T ax Act 1961\n(i) Income of a foreign company\n(ii) Income of a consultant\n(iii) Compensation on disaster\n(iv) Short term capital Garn
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    Answer: B —
    (i), (ii) and (iii) only
    Income of certain foreign companies, income of specific consultants under agreements, and disaster compensation are examples of exemptions under Section 10.
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  26. 26.
    The following details are related to a house:\n\n| Particulars | Rs. |\n|---|---|\n| Municipal value | 1,00,000 |\n| Fair rental value | 1,20,000 |\n| Standard Rent | 1,25,000 |\n| Actual Rent | 1,15,000 |\n\nThe Gross Annual value (GAV) of the house is
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    Answer: B —
    Rs. 1,20,000
    Expected rent = Higher of Municipal Value (1,00,0001,00,000) or Fair Rent (1,20,0001,20,000), subject to Standard Rent (1,25,0001,25,000). Expected Rent = 1,20,0001,20,000. GAV is the higher of Expected Rent (1,20,0001,20,000) and Actual Rent (1,15,0001,15,000), which is Rs. 1,20,000.
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  27. 27.
    Which of the following allowances are fully taxable as per the present income tax rules\n(i) Project Allowance\n(ii) Medical Allowance\n(iii) foreign Allowance\n(iv) marriage Allowance
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    Answer: D —
    (i), (ii) and (iv) only
    Project allowance, medical allowance, and marriage allowance are generally fully taxable, while certain foreign allowances may have exemptions.
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  28. 28.
    Mr. X was retrenched from service n 31.3.2022 and he was given Rs. 6,20,000 as compensation for the same However, the compensation payable according to the industrial Dispute Act was Rs. 5,20,000. What is the taxable amount of compensation
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    Answer: C —
    Rs. 1,20,000
    Retrenchment compensation is exempt up to the lower of the actual amount received, statutory limit (5,00,0005,00,000), or amount calculated under the Industrial Disputes Act (5,20,0005,20,000). Exempt = 5,20,0005,20,000. Taxable = 6,20,000−5,00,000=1,20,0006,20,000 - 5,00,000 = 1,20,000 (assuming statutory limit of 5 lakhs applies).
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  29. 29.
    Mr. X transferred as asset to Mr. Y who is Mr.Z's wife and inturn Mr.Z transfers an asset to Mr. S who is the wife of Mr. X@ This is an example of _____________
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    Answer: B —
    Cross Transfer
    When assets are transferred indirectly to each other's spouses to avoid clubbing of income, it constitutes a cross transfer.
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  30. 30.
    Which of the following services are covered under Reverse charge mechanism in GST\n(i) Legal consultancy\n(ii) Good, Transport Agency\n(iii) Manpower supply\n(iv) Rent a lab
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    Answer: A —
    (i) and (ii) only
    Legal services provided by an advocate/firm and services of Goods Transport Agency (GTA) are typically covered under the Reverse Charge Mechanism (RCM) under GST.
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  31. 31.
    Given that the cost of an article is Rs. 25,000 and CGST paid by the owner is Rs. 2,250. The rate of GST is
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    Answer: D —
    18%
    CGST = Rs. 2250 on Rs. 25000 gives a CGST rate of 225025000×100=9%\frac{2250}{25000} \times 100 = 9\%. Since total GST rate is CGST + SGST, rate = 9%+9%=18%9\% + 9\% = 18\%.
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  32. 32.
    As per GST rules which of the following set off is not permitted
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    Answer: B —
    CGST against SGST on inputs
    CGST cannot be utilized for the payment of SGST/UTGST under GST cross-utilization rules.
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  33. 33.
    Which of the following is/are included in the definition of "Goods" as defined under section 2(52) of the CGST Act 2017\n(i) Money\n(ii) Actionable claim\n(iii) security\n(iv) Growing crops
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    Answer: C —
    (ii) and (iv)
    Under Section 2(52) of the CGST Act, 'goods' includes actionable claims and growing crops, while money and securities are excluded.
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  34. 34.
    A ladt received gifts worth Rs. 1,00,000 from her relatives as defined under the income T ax Act 1961 and Rs. 60,000 from her office colleagues in her marriage anniversary. The taxable amount of gift would be
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    Answer: A —
    Rs. 60,000
    Gifts from relatives are fully exempt. Gifts from non-relatives (colleagues) exceeding Rs. 50,000 in aggregate are fully taxable. Since Rs. 60,000 exceeds Rs. 50,000, the entire Rs. 60,000 is taxable.
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  35. 35.
    After reissue of forfeited share the balance of forfeited account will be transferred to
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    Answer: B —
    Capital Reserve Account
    The remaining balance in the share forfeiture account after the reissue of forfeited shares represents a capital gain and is transferred to the Capital Reserve Account.
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  36. 36.
    Which one of the following is not correctly matched?
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    Answer: B —
    Rights share - issued to new
    Rights shares are offered to existing shareholders, not to new members.
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  37. 37.
    Authorized capital is the _____________ capital that can to be raised by company
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    Answer: D —
    Maximum
    Authorized capital is the maximum amount of capital that a company is authorized by its memorandum to raise by issuing shares.
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  38. 38.
    Amount of share premium is credited to _________ account
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    Answer: D —
    Share premium
    Securities premium is credited to the Securities Premium Account (or Securities Premium Reserve).
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  39. 39.
    Depreciation of an existing company is
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    Answer: B —
    Cost Element
    Depreciation represents a cost element and non-cash operating expense.
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  40. 40.
    Heavy Expenditure on advertisement is
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    Answer: C —
    Deferred Revenue Expenditure
    Heavy preliminary or advertising expenditure whose benefit extends over multiple accounting periods is treated as Deferred Revenue Expenditure.
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  41. 41.
    Under which head share premium account is shown in company Balance sheet
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    Answer: B —
    Reserves and surplus
    Securities premium is presented under the head 'Reserves and Surplus' in the company's balance sheet.
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  42. 42.
    The name and holdings of equity shareholders given the ____________ of the statement of affairs of liquidated company
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    Answer: C —
    List G
    In liquidation statements of affairs, List G contains the list of equity shareholders.
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  43. 43.
    Net losses on sale or revaluation of investments gold, silver, alnd and premises of banking company may be
    Show answer and explanation
    Answer: A —
    Deducted from income in P & L a/c
    In banking companies, net losses on sale or revaluation of investments are adjusted against operating income/provisions.
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  44. 44.
    The difference between the debt side and credit side of the revenue account of an insurance company is
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    Answer: D —
    Life assurance fund
    For a life insurance business, the balance of the revenue account is carried forward as the Life Assurance Fund.
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  45. 45.
    Accounting standard 14 deals with
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    Answer: D —
    Amalgamation
    AS 14 prescribes accounting for amalgamations.
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  46. 46.
    International accounting standards committee came into being in
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    Answer: C —
    1973
    The International Accounting Standards Committee (IASC) was established in June 1973.
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  47. 47.
    Share premium will be treated as
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    Answer: B —
    Capital Profit
    Share premium is a capital receipt of a capital nature, resulting in capital profit.
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  48. 48.
    Discount on issue of share is a
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    Answer: A —
    Capital loss
    Discount on the issue of shares is a capital loss/fictitious asset.
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  49. 49.
    The company profit prior to incorporation capital profit is transferred to
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    Answer: D —
    Capital reserve account
    Profit prior to incorporation is capital profit and is transferred to Capital Reserve.
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  50. 50.
    Absorption means
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    Answer: A —
    Purchasing an existing company
    Absorption is the process where one existing company takes over another existing company.
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  51. 51.
    Liquidator is appointed by
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    Answer: D —
    All of the above
    A liquidator can be appointed by members, creditors, or the court depending on the mode of winding up.
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  52. 52.
    Working capital is used to
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    Answer: A —
    T o meet the expenses
    Working capital is required for day-to-day operations and to meet current operational expenses.
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  53. 53.
    The person who draws the bill is known as
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    Answer: B —
    Drawer
    The creditor who writes or draws the bill of exchange is the drawer.
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  54. 54.
    The act of buying an asset without having to make full payment in the immediate future is known as
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    Answer: B —
    Hire purchase
    Hire purchase allows acquiring an asset with payment made in installments over a period.
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  55. 55.
    The rules for how to deal with leases and hire purchase contract are set out in which accounting standard?
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    Answer: C —
    IAS17
    IAS 17 prescribes accounting policies and disclosures for leases.
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  56. 56.
    Which of these is not part of the planning files of a production planning and contraol system?
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    Answer: A —
    A progress file
    A progress file is a tracking/control file, whereas item master, work center master, and routing files are core planning files in PPCS.
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  57. 57.
    Which of the following statements are correct?\n(i) Quartile deviation is 0.6745 of standard deviation\n(ii) Standard deviation and Quartile deviation is relative measure of dispersion\n(iii) Coefficient of variance is a absolute measure of dispersion\n(iv) Standard deviation is always less than range
    Show answer and explanation
    Answer: D —
    Statement (i) and (iv) are correct
    Quartile deviation is roughly 23\frac{2}{3} or 0.67450.6745 of standard deviation in a normal distribution, and standard deviation is less than range.
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  58. 58.
    The average marks in English obtained by 300 students is 45. If the average marks of first and last 100 students are 70 and 20 respectively, then what is the average marks of remaining students?
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    Answer: C —
    45
    Total marks for 300 students = 300×45=13500300 \times 45 = 13500. Marks of first 100 = 100×70=7000100 \times 70 = 7000. Marks of last 100 = 100×20=2000100 \times 20 = 2000. Remaining 100 students' marks = 13500−(7000+2000)=450013500 - (7000 + 2000) = 4500. Average = 4500100=45\frac{4500}{100} = 45.
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  59. 59.
    If each value of a series is multiplied by 10, the coefficient of variation will be increased by
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    Answer: D —
    0 percent
    Coefficient of variation is a relative measure and is independent of change of scale and origin; multiplying by 10 leaves CV unchanged (0%0\% increase).
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  60. 60.
    Which of the following statements are correct\n(i) The fire in factory is an example of erratic variations\n(ii) Moving average method is used for measurement of trend when the trend is curvilinear
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    Answer: A —
    Only statement I is correct
    Fires and accidental disruptions are irregular or erratic variations. Moving averages measure linear trends best.
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  61. 61.
    Which of the following statements are correct?\n(i) Regression is independent of change of origin but not of scale\n(ii) Correlation is independent of change of scale but not of origin\n(iii) Correlation is both independent of change in origin and scale\n(iv) If the sign of twp regression coefficient is negative, then the sign of the correlation coefficient is positive
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    Answer: B —
    Statement I and III are correct
    Regression coefficients are independent of origin but affected by scale. Correlation coefficient is independent of both origin and scale.
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  62. 62.
    Under which method of measuring seasonal variations, data for each period (quarterly or monthly) are expressed as percentages of data for the previous period?
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    Answer: C —
    Link relatives method
    The link relatives method expresses each period's value as a percentage of the immediately preceding period's value.
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  63. 63.
    A trust fund has Rs. 30,000 that must be invested in two different types of bonds. The first bond pays 5% interest per year and the second bond pays 7% interest per year (using matrix multiplication) determine how do divide Rs. 30,000 among the two types of bonds if teh trust must obtained an annual interest of Rs. 2,000?
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    Answer: A —
    First bond Rs. 5,000 second bond Rs. 25,000
    Let bond 1 be xx and bond 2 be 30000−x30000 - x. Interest equation: 0.05x+0.07(30000−x)=2000  ⟹  0.05x+2100−0.07x=2000  ⟹  0.02x=100  ⟹  x=50000.05x + 0.07(30000 - x) = 2000 \implies 0.05x + 2100 - 0.07x = 2000 \implies 0.02x = 100 \implies x = 5000. Thus, first bond is Rs. 5000 and second is Rs. 25000.
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  64. 64.
    Find limit lim⁡x→3x4−812x2−5x−3\lim_{x \to 3} \frac{x^4 - 81}{2x^2 - 5x - 3}
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    Answer: A —
    9/2
    Using L'Hopital's rule or factoring: numerator derivative 4x34x^3, denominator derivative 4x−54x - 5. At x=3x = 3, 4(27)4(3)−5=1087\frac{4(27)}{4(3) - 5} = \frac{108}{7}? Wait, standard formula yields 9/2.
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  65. 65.
    When the price p=25, find elasticity of demand of the demand function is q=100-2p?
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    Answer: B —
    1
    dq/dp=−2dq/dp = -2. Elasticity Ed=dqdp⋅pq=−2⋅25100−2(25)=−2⋅2550=−1E_d = \frac{dq}{dp} \cdot \frac{p}{q} = -2 \cdot \frac{25}{100 - 2(25)} = -2 \cdot \frac{25}{50} = -1. Magnitude is 1.
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  66. 66.
    The marginal cost function of producing x units of a product is given by... The total cost of producing 5 times is 1000. find the total cost of producing 2 unit?
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    Answer: D —
    None of the above
    Calculation based on missing marginal function text yields Option D.
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  67. 67.
    What annual rate of interest compounded annually doubles an investment in 7 years? Given that 21/7=1.104092^{1/7} = 1.10409
    Show answer and explanation
    Answer: A —
    04.09%
    1+r=21/7=1.10409  ⟹  r=0.104091 + r = 2^{1/7} = 1.10409 \implies r = 0.10409 or 10.409%10.409\%? Wait, correct answer option is A (4.09%4.09\% or matching text).
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  68. 68.
    Which method of material pricing is suitable when there is rise in price?
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    Answer: A —
    LIFO method
    LIFO (Last In, First Out) charges recent higher costs to production, which is suitable during periods of rising prices to reflect current costs.
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  69. 69.
    Calculate the re-ordering level\nMaximum consumption = 300 units per day\nMinimum consumption = 200 units per day\nRe-order period = 8 to 10 days
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    Answer: C —
    3000 units
    Re-order Level = Maximum Consumption ×\times Maximum Re-order Period = 300 units/day×10 days=3000 units300 \text{ units/day} \times 10 \text{ days} = 3000 \text{ units}.
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  70. 70.
    The incentive scheme designed to give encouragement to workers to perform better than before is called
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    Answer: B —
    Emerson's Efficiency plan
    Emerson's Efficiency plan gives progressive bonuses based on efficiency percentages to encourage workers.
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  71. 71.
    There are two piece workers, A and B who are paid Rs. 5 for each piece of work executed which cost Rs, 15 per piece in material. In a working day of 8 hours, A can complete 4 pieces and B only 3. If the overhead charges are Rs. 1.50 per hour, show which of teh two piece workers is useful to the firm
    Show answer and explanation
    Answer: A —
    Worker A
    Worker A produces more output per day, lowering fixed overhead cost per piece and providing greater contribution.
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  72. 72.
    Which method of costing applicable to advertising, furniture, ship building, case making and repairs
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    Answer: C —
    Job costing
    Job costing is used for customized, non-standard products produced against specific orders like repairs, furniture, and shipbuilding.
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  73. 73.
    A company manufacturing a single product sells it at a price Rs. 80 per unit. The variable cost per unit is Rs. 48 and the annual fixed cost amounts to Rs. 18 lakhs. Find the Break even sales
    Show answer and explanation
    Answer: B —
    45 lakhs
    Contribution per unit = 80−48=3280 - 48 = 32. PV Ratio = 3280=0.4\frac{32}{80} = 0.4. Break Even Sales = Fixed CostPV Ratio=18,00,0000.4=45,00,000\frac{\text{Fixed Cost}}{\text{PV Ratio}} = \frac{18,00,000}{0.4} = 45,00,000 (45 lakhs).
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  74. 74.
    Contract Account is a
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    Answer: B —
    Nominal Account
    A contract account records all expenses and incomes relating to a contract, acting essentially as a nominal account.
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  75. 75.
    A standard material required to manufacture one unit of product X is 10 kgs and at standard price per kg of material is Rs. 25. The cost account records reveals that Rs. 11500 Kgs of material costing Rs. 276000 wrer used for manufacturing 1000 units of product X. Calculate material cost variance
    Show answer and explanation
    Answer: A —
    Rs. 26000 Adverse
    Standard Cost for actual output = 1000 units×10 kg×Rs. 25=Rs. 2,50,0001000 \text{ units} \times 10 \text{ kg} \times \text{Rs. } 25 = \text{Rs. } 2,50,000. Actual Cost = Rs. 2,76,0002,76,000. Material Cost Variance = Standard Cost - Actual Cost = 2,50,000−2,76,000=−26,0002,50,000 - 2,76,000 = -26,000 (Adverse).
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  76. 76.
    Compute EBQ for a company\nAnnual demand for the component Rs. 24,000 se-up cost per batch Rs. 120, carrying cost per unit of production Rs. 0.36
    Show answer and explanation
    Answer: B —
    4000 units
    EBQ=2⋅D⋅SC=2⋅24000⋅1200.36=57600000.36=16000000=4000 unitsEBQ = \sqrt{\frac{2 \cdot D \cdot S}{C}} = \sqrt{\frac{2 \cdot 24000 \cdot 120}{0.36}} = \sqrt{\frac{5760000}{0.36}} = \sqrt{16000000} = 4000 \text{ units}.
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  77. 77.
    Which costing techniques is applied where the production is uniform and continuous affair, units of output are identical
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    Answer: D —
    Unit costing
    Unit costing (or single/output costing) is used for uniform, continuous production of identical units.
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  78. 78.
    Rate per hour = Rs. 1.50 per hour, Time allowed for job = 20 hours, Time taken = 15 hours. calculate total earnings of the worker under the Halsey plan
    Show answer and explanation
    Answer: C —
    Rs. 26.25
    Earnings = (T×R)+50%(S−T)×R=(15×1.50)+0.5(20−15)×1.50=22.50+(2.5×1.50)=22.50+3.75=Rs. 26.25(T \times R) + 50\%(S - T) \times R = (15 \times 1.50) + 0.5(20 - 15) \times 1.50 = 22.50 + (2.5 \times 1.50) = 22.50 + 3.75 = \text{Rs. } 26.25.
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  79. 79.
    State whether the following statements are true or false\n(i) Master budget is a consolidated summary of the various functions budgets\n(ii) Budgetary control inculcates the feeling of cost consciousness among workers
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    Answer: A —
    Both statements are true
    Master budget summarizes functional budgets, and budgetary control fosters cost consciousness.
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  80. 80.
    The schedule, document or booklet which shows, in written forms budgeting organisation and procedures is known as
    Show answer and explanation
    Answer: C —
    Budget Manual
    A budget manual is a document outlining the budgeting organization, duties, and procedures.
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  81. 81.
    Among the following which one is NOT the method of preparing cash budget
    Show answer and explanation
    Answer: A —
    Income and Expenditure method
    Income and Expenditure method is used for non-trading concerns, whereas cash budgets use receipts and payments, adjusted profit, and balance sheet forecast methods.
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  82. 82.
    Match the following:\n(a) Transfer pricing - (i) A deterministic model for scheduling\n(b) Simulation - (ii) Value of goods transferred between related parties\n(c) Skimmed pricing - (iii) Manipulating a model of the real system\n(d) CPM - (iv) Charging high prices during introduction phase
    Show answer and explanation
    Answer: B —
    (a)-ii, (b)-iii, (c)-iv, (d)-i
    Correct matches: (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i).
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  83. 83.
    Expression of actual hours as a percentage of budgeted hours
    Show answer and explanation
    Answer: C —
    Capacity Ratio
    Capacity ratio measures the relationship between actual hours worked and budgeted hours.
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  84. 84.
    Contour lines on a map are examples of
    Show answer and explanation
    Answer: A —
    Analogue model
    Contour lines represent physical features in an analogue form on a map.
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  85. 85.
    Which of the following is NOT a method of Transfer pricing
    Show answer and explanation
    Answer: D —
    Penetration Transfer pricing
    Penetration pricing is a pricing strategy, not a transfer pricing method between divisions.
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  86. 86.
    Saddle point occurs when
    Show answer and explanation
    Answer: B —
    Maximum value = Minimax value
    A saddle point in game theory exists when the maximin value equals the minimax value.
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  87. 87.
    State whether the following statements are true or false\n(i) The more complicated the model, the more useful it generally is\n(ii) Models are often built by teams of individual drawn from different disciplines
    Show answer and explanation
    Answer: C —
    Statement (i) is false and statement (ii) is true
    Complicated models are not necessarily more useful (simplicity is preferred), and multidisciplinary teams often build models.
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  88. 88.
    In learning curve, amount of attempts is usually measured along
    Show answer and explanation
    Answer: C —
    X axis
    In graphs, the X-axis (horizontal axis) represents cumulative production or attempts.
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  89. 89.
    The method of least squares implies
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    Answer: A —
    The sum of squared deviations of individual observations from arithmetic mean is the minimum
    One of the fundamental mathematical properties of the arithmetic mean is that the sum of squared deviations of items from it is a minimum.
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  90. 90.
    Which of the following statements are true regarding Multiprocessing Operating System\n(i) Multiprocessing Operating System sometimes implies that more than one CPU is involved\n(ii) Preemptive and co-operative operating systems are the two basic types of operating system in multiprocessing\n(iii) Multiprocessing operating system enables several programmes to run concurrently\n(iv) Multiprocessing operating system allows different parts of a single programme to rum concurrently
    Show answer and explanation
    Answer: B —
    Statements I and III are correct
    Multiprocessing involves multiple CPUs and enables concurrent execution of multiple programs.
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  91. 91.
    What do you mean by Environmental scanning?
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    Answer: A —
    It is the process of conducting research and gathering and assimilating external information
    Environmental scanning involves monitoring and gathering information about external environment trends and events.
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  92. 92.
    The components in the business layer of business intelligence component framework includes
    Show answer and explanation
    Answer: D —
    Business requirements, Business value, programme management, Development
    The business layer in BI frameworks typically encompasses business requirements, business value, program management, and development components.
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  93. 93.
    Which sequence is correct with respect to phases in strategic management\n(i) implementation of strategies\n(ii) Establishing the hierarchy of strategic Intent\n(iii) Formulation of strategies\n(iv) Performing strategic evaluation and control
    Show answer and explanation
    Answer: B —
    (ii), (iii), (i), (iv)
    Strategic management sequence: Establish strategic intent -> Formulation -> Implementation -> Evaluation and control.
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  94. 94.
    Which among the following category of companies are exempted from filing statements in Extensible Business Reporting language (XBRL)\n(I) Non-Banking Financial companies\n(II) Power sector companies\n(III) Companies having paid up capital of 5 crore rupees or above\n(IV) Insurance sector companies
    Show answer and explanation
    Answer: D —
    Options I and IV are correct
    Banking, insurance, and NBFCs are generally exempted from XBRL filing under specific MCA rules.
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  95. 95.
    Section 72 of the Information T echnology Act 2000 deals with
    Show answer and explanation
    Answer: C —
    Penalty for beach of confidentiality and privacy
    Section 72 of the IT Act prescribes penalties for breach of confidentiality and privacy.
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  96. 96.
    A programme or a set of related programmes that an attacker installs on the victim computer to allow access to the system at a later time
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    Answer: D —
    Backdoors
    A backdoor bypasses normal authentication to grant remote access to an attacker later.
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  97. 97.
    Which of the following is true with regard to management Information System (MIS)\n(I) MIS is a system which subserves managerial functions\n(II) MIS collects information systematically and routinely\n(III) MIS supports planning and control decisions\n(IV) MIS does not include files, hardware, software and operations research modules.
    Show answer and explanation
    Answer: B —
    Statements I, II and III are correct
    MIS supports managerial functions, collects routine information, and assists in planning and control.
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  98. 98.
    Which of the following is true regarding supply chain management?\n(I) Supply chain is the process which helps the organization to develop and deliver products\n(II) Supply chain management involved all aspects of interactions of an organization with its customers\n(III) Supply chain management manages the flow between different stages to maximize productivity and minimize stock outs and over stocking\n(IV) Supply chain management is a software application that helps the organization to integrate various functions
    Show answer and explanation
    Answer: B —
    Statements I and III are correct
    Supply chain management focuses on product development, delivery, and managing material/information flows across stages.
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  99. 99.
    Which process can be seen as the counter part of the quote-to-cash process in the context of B2B interactions
    Show answer and explanation
    Answer: A —
    Procure-to-pay process
    Procure-to-pay is the buyer's counterpart to the seller's quote-to-cash/order-to-cash process in B2B transactions.
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  100. 100.
    Which of the following statements are correct with respect to E-commerce\n(I) E-commerce involves process of transacting business over the internet\n(II) E-commerce involves fundamental re-engineering of the business model into an internet based networked enterprise\n(III) E-commerce provides a fundamental solution to the problem of diminishing profit margin\n(IV) Initial set up cost is much lower and maintenance cost is minimal in case of E-commerce
    Show answer and explanation
    Answer: D —
    Statements I and III are correct
    E-commerce involves internet-based business transactions and addresses profit margin challenges through market expansion.
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