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Objective Questions

Latest AIIMS CRE Junior Accounts Officer Exam Question (Objective Questions), MCQ in English

Subjects : Concerned Subject, General Knowledge, Quantitative Aptitude, Computer

Question Bank AIIMS CRE Junior Accounts Officer (Junior Accounts Officer/Cashier/Chief Cashier) Exam - English
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Concerned Subject

Question 1Single Answer
Companies Act is governed by
  1. ARBI
  2. BSEBI
  3. CPartnership Act
  4. DMinistry of Corporate Affairs
Question 2Single Answer
Own shares purchased by a company with a view to reduce its capital is called
  1. Asale
  2. BPurchase
  3. Cbuy-back
  4. DPrivate placement
Question 3Single Answer
A company in which there is only one member is called
  1. Aone member company
  2. Bone person company
  3. Csingle company
  4. DIndividual company
Question 4Single Answer
Shares which have preferential rights are called
  1. AEquity share
  2. BPreference share
  3. CDebenture
  4. DBond
Question 5Single Answer
Which of the following is the registered capital of the company ?
  1. ANominal capital
  2. BAuthorised capital
  3. CShare capital
  4. DBoth (a) and (b)
Question 6Single Answer
Capital which is called only at the time of winding-up of the company is called
  1. ACapital reserve
  2. BReserve capital
  3. CSecure capital
  4. DAuthorised capital
Question 7Single Answer
Which kind of preference share entitIes its holders to receive arrear of dividends of previous years ?
  1. ACumulative preference share
  2. BNon-cumulative preference share
  3. CConvertible preference share
  4. DNon-convertible dividend share
Question 8Single Answer
Which document is an invitation offer to public to subscribe for company’s share ?
  1. ARed herring prospectus
  2. BProspectus
  3. CIn lieu of prospectus
  4. DNone of the above
Question 9Single Answer
The balance of share forfeiture account can be used to
  1. AProvide for discount given at the time of reissue
  2. BWrite-off preliminary expenses
  3. CWrite-off bad debts
  4. DNone of the above
Question 10Single Answer
A company issued 25,000 shares and received applications for 35,000 shares. Company wants to allot shares to everyone who has applied. What will be the ratio for allotment ?
  1. A6 : 7
  2. B7: 5
  3. C5 : 7
  4. D7 : 6
Question 11Single Answer
A company issued 10,000 shares of Rs10 each. Amount is payable as Rs 2 on application, Rs 5 on allotment and Rs 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. After a month, he paid the due amount. What will be the amount received by company against issue of shares ?
  1. ARs 92,000
  2. BRs 90,000
  3. CRs 1,00,000
  4. DRs 8,000
Question 12Single Answer
Nominal share capital is
  1. AThat part of the authorised capital which is issued by the company
  2. BThe amount of capital which is actually applied for by the prospective shareholders
  3. CThe maximum amount of share capital which a company is authorised to issue
  4. DThe amount actually paid by the shareholders
Question 13Single Answer
Money received in advance from shareholders before it is actually called-up by the directors is
  1. AMebited to calls-in-advance account
  2. BCredited to calls-in-advance account
  3. CDebited to calls account
  4. DNone of the above
Question 14Single Answer
Shares can be forfeited
  1. AFor non-payment of call money
  2. BFor failure to attend meetings.
  3. CFor failure to repay the loan to the bank
  4. DFor which shares are pledged as a security.
Question 15Single Answer
The profit on reissue of forfeited shares is transferred to
  1. AGeneral reserve
  2. BCapital redemption reserve
  3. CCapital reserve
  4. DRevenue reserve
Question 16Single Answer
Balance of share forfeiture account is shown in the balance sheet under the item
  1. ACurrent liabilities and provisions
  2. BReserves and surpluses
  3. CShare capital
  4. DUnsecured loans
Question 17Single Answer
Amox Ltd. is registered with a capital of 10,00,000 equity shares of Rs 10 each. 6,00,000 equity shares were offered for subscription to public. Applications were received for 6,00,000 shares. All calls were made and amount was duly received except final call of Rs 2 on 80,000 shares.What Will will be the amount of share capital shown in the balance sheet ?
  1. ARs 60,00,000
  2. BRs 58,40,000
  3. CRs 5,84,000
  4. DRs 6,00,000
Question 18Single Answer
Which amongst the following shares conter voting rights on its holders ?
  1. AEquity shares
  2. BRedeemable preference shares
  3. CParticipatory preference shares
  4. DNone of the above
Question 19Single Answer
Amount payable on shares can be received in installments by the company. What is the first installment called ?
  1. AApplication money
  2. BAllotment money
  3. CFirst call money
  4. DSecond call money
Question 20Single Answer
Total capital specified in capital clause is Rs 50,00,000 which is divided in 35,000 equity shares of Rs 100 each and 15,000, 10% preference shares of Rs100 each. The company issued 10,000 equity shares and 5,000 preference shares. The public subscribed for 9,000 equity shares and 4,500 preference shares out of the issued shares. What will be the subscribed capital amount ?
  1. ARs 50,00.000
  2. BRs 50,000
  3. CRs 9,00,000
  4. DRs 13,50,000
Question 21Single Answer
Akash Ltd. registered capital is Rs 50,00,000 in shares of Rs 10 each.The company issued 2,00,000 of such shares, payable @ Rs 3 per share on allotment. What will be the amount due on allotment, if shareholder holding 20,000 shares paid all call money at the time of allotment only ?
  1. ARs 4,00,000
  2. BRs 6,00,000
  3. CRs 60,000
  4. DRs 1,50,000
Question 22Single Answer
The subscribed share capital of XYZ Ltd. is 80.00.000 divided in shares of Rs 100 each. There were no calls-in-arrears till the final call was made. The final call was paid on 77,500 shares. The calls-in-arrears amounted to Rs 62,500. Calculate the final call per share.
  1. ARs 20
  2. BRs 30
  3. CRs 25
  4. DRs 35
Question 23Single Answer
Shares for consideration other than cash can be issued at
  1. APar
  2. BPremium
  3. CDiscount
  4. DBoth (a) and (b)
Question 24Single Answer
Neton Ltd. has in its memorandum of association.Capital clause stating that it is formed with 75,000 equity shares of Rs 100 each. The company has issued the entire shares and the public has also subscribed and paid-up for the full amount on application itself. What will be the subscribed capital Rs
  1. ARs 75,00,000
  2. BRs 10,00,000
  3. CRs 1,00,000
  4. DRs 7,50,000
Question 25Single Answer
Shareholders receive ......... from the company as a benefit against their investment.
  1. AInterest
  2. BCommission
  3. CProfit
  4. DDividend
Question 26Single Answer
What is the primary purpose of cost accounting?
  1. ATo calculate the profit of an organization
  2. BTo determine the cost of goods sold
  3. CTo determine and control the cost of production
  4. DTo assess the market value of a product
Question 27Single Answer
Which of the following is NOT an element of cost?
  1. ADirect materials
  2. BDirect labor
  3. CAdministrative expenses
  4. DFactory rent
Question 28Single Answer
A 'cost unit' refers to:
  1. AA group of cost centers
  2. BA unit of product or service to which costs are assigned
  3. CA method of allocating indirect costs
  4. DA method of pricing products
Question 29Single Answer
Which of the following is an example of a 'cost center'?
  1. AThe entire manufacturing unit
  2. BA specific department like production or maintenance
  3. CThe final product
  4. DA product line
Question 30Single Answer
What is the role of a cost center in cost accounting?
  1. ATo determine profit and loss
  2. BTo accumulate costs for a specific area of responsibility
  3. CTo calculate overheads
  4. DTo determine the market price of products
Question 31Single Answer
Which of the following is an example of direct cost?
  1. ARent of factory building
  2. BSalaries of sales personnel
  3. CCost of raw materials used in production
  4. DInsurance of machinery
Question 32Single Answer
In cost accounting, indirect costs are also known as:
  1. APrime costs
  2. BOperating costs
  3. COverheads
  4. DDirect costs
Question 33Single Answer
Which system of cost ascertainment is most suitable for a company manufacturing a large number of standardized products?
  1. AJob order costing
  2. BProcess costing
  3. CContract costing
  4. DActivity-based costing
Question 34Single Answer
Which of the following is a method for controlling direct material costs?
  1. AStandard costing
  2. BBudgeting
  3. CBoth a and b
  4. DAbsorption costing
Question 35Single Answer
The cost of materials used in production is classified as:
  1. AFixed cost
  2. BVariable cost
  3. CDirect cost
  4. DIndirect cost
Question 36Single Answer
Which of the following is an overhead cost?
  1. AWages of workers in the production department
  2. BCost of raw materials
  3. CRent of the office building
  4. DCost of electricity used in manufacturing
Question 37Single Answer
Labor costs can be classified into:
  1. ADirect and indirect labor
  2. BFixed and variable labor
  3. CSkilled and unskilled labor
  4. DDirect and supervisory labor
Question 38Single Answer
Which of the following is NOT an example of fixed overhead costs?
  1. ARent of factory
  2. BSalaries of permanent staff
  3. CFactory depreciation
  4. DRaw material consumption
Question 39Single Answer
Absorption costing includes which of the following?
  1. AOnly variable production costs
  2. BOnly fixed production costs
  3. CBoth variable and fixed production costs
  4. DOnly non-manufacturing costs
Question 40Single Answer
What does 'absorption of overheads' refer to?
  1. AThe process of allocating overhead costs to products
  2. BThe absorption of costs by direct labor
  3. CThe calculation of direct costs
  4. DThe allocation of selling costs
Question 41Single Answer
Which of the following is a method of allocating overhead costs?
  1. ADirect allocation
  2. BApportionment
  3. CAbsorption costing
  4. DBoth b and c
Question 42Single Answer
Which of the following is a method of apportioning overheads?
  1. AUsing labor hours
  2. BUsing machine hours
  3. CUsing space occupied
  4. DAll of the above
Question 43Single Answer
The term "cost unit" refers to:
  1. AA unit of output for which costs are determined
  2. BA group of cost centers
  3. CThe total cost of the product
  4. DThe sum of both direct and indirect costs
Question 44Single Answer
Which of the following is an example of variable overheads?
  1. ADepreciation on machines
  2. BFactory rent
  3. CUtilities cost based on production volume
  4. DSalaries of permanent staff
Question 45Single Answer
A cost that changes with the level of production is known as:
  1. AFixed cost
  2. BVariable cost
  3. CMixed cost
  4. DSunk cost
Question 46Single Answer
Direct expenses are:
  1. AIndirect costs related to the production process
  2. BDirect costs related to specific products or services
  3. COverheads allocated to different cost centers
  4. DFixed costs unrelated to production
Question 47Single Answer
Which method of costing is most suitable for businesses producing custom-made products?
  1. AJob order costing
  2. BProcess costing
  3. CActivity-based costing
  4. DMarginal costing
Question 48Single Answer
Which of the following is included in labor costs under cost accounting?
  1. AWages for direct labor
  2. BSalaries for administrative staff
  3. CSocial security contributions for employees
  4. DBoth a and c
Question 49Single Answer
What is the purpose of a cost sheet in cost accounting?
  1. ATo determine the selling price of a product
  2. BTo calculate and analyze the cost of production
  3. CTo allocate overheads
  4. DTo measure the market value of products
Question 50Single Answer
In process costing, the cost per unit is calculated by:
  1. ADividing total cost by the total units produced
  2. BAdding the cost of direct materials only
  3. CSubtracting the fixed costs from total costs
  4. DUsing the weighted average method
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