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Objective Questions

Latest PSPCL Revenue Accountant Exam Question (Objective Questions), MCQ in English

Subjects : Degree Level Finance and Accounts, General Knowledge, General English, Reasoning and Numerical Aptitude

Question Bank PSPCL Revenue Accountant Exam - English
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Degree Level Finance and Accounts

Question 1Single Answer
Who is Father of Scientific Management ?
  1. A
    Henry Fayol
  2. B
    Elton Mayo
  3. C
    Chester Bernard
  4. D
    F. W. Taylor
Question 2Single Answer
Appointment of a Company Secretary is made by –
  1. A
    Promoters
  2. B
    Board of Directors
  3. C
    Debenture holders
  4. D
    Government
Question 3Single Answer
Bonus Shares are issued to –
  1. A
    Equity Shareholders
  2. B
    Preference Shareholders
  3. C
    Debenture Holders
  4. D
    Secured Creditors
Question 4Single Answer
Under which principle, all the rights of an insured are transferred to insurance company after making payment of claim ?
  1. A
    Subrogation
  2. B
    Utmost good faith
  3. C
    Contribution
  4. D
    Average clause
Question 5Single Answer
Rs. 10,000 spent on the replacement of worn out parts of an electronic machinery is treated as –
  1. A
    Capital expenditure
  2. B
    Revenue expenditure
  3. C
    Deferred revenue expenditure
  4. D
    Capital loss
Question 6Single Answer
EPS is calculated as –
  1. A
    EBIT / Equity shares
  2. B
    EBIT – Preference Dividend / Equity shares
  3. C
    EAT / Equity shares
  4. D
    EAT – Preference Dividend / Equity shares
Question 7Single Answer
Which is the oldest form of organisation ?
  1. A
    Line
  2. B
    Line and staff
  3. C
    Functional
  4. D
    Matrix
Question 8Single Answer
In ‘Direction’ who is given importance ?
  1. A
    To machines
  2. B
    To paper work
  3. C
    To man
  4. D
    To production
Question 9Single Answer
Standard costing is a technique of –
  1. A
    Planning
  2. B
    Organising
  3. C
    Coordination
  4. D
    Control
Question 10Single Answer
‘Table A’ is an alternative to –
  1. A
    Prospectus
  2. B
    Articles of Association
  3. C
    Memorandum of Association
  4. D
    None of the above
Question 11Single Answer
FEMA stands for –
  1. A
    Foreign Exchange Management Act
  2. B
    Funds Exchange Management Act
  3. C
    Finance Enhancement Monetary Act
  4. D
    Future Exchange Management Act
Question 12Single Answer
What of the following is false about W.T.O. ?
  1. A
    It is the main organ for implementing the Multilateral Trade Agreement
  2. B
    It is global in its membership
  3. C
    It has far wider scope than GATT
  4. D
    Only countries having more than prescribed level of total GDP can become its member
Question 13Single Answer
……........… has been founded to act as permanent watchdog on the international trade .
  1. A
    ISRD
  2. B
    ADS
  3. C
    WTO
  4. D
    DIMF
Question 14Single Answer
Which of the following statement is correct ?
  1. A
    The disinvestment programme has been successfully carried out in India
  2. B
    Privatisation up to 100% has been carried out in all the PSU in India
  3. C
    Under strategic sale method of disinvestment, the government sells a major share to a strategic partner
  4. D
    None of the above
Question 15Single Answer
Advance Income-tax is shown in the –
  1. A
    Debit side of Profit and Loss Account
  2. B
    Liability side of the Balance Sheet
  3. C
    Credit side of Profit and Loss Account
  4. D
    Assets side of the Balance Sheet
Question 16Single Answer
In the absence of a Partnership Deed, the rate of interest allowed on the partner’s loan to the firm is –
  1. A
    5%
  2. B
    6%
  3. C
    10%
  4. D
    None of the above
Question 17Single Answer
Interim Dividend is shown –
  1. A
    In Profit and Loss Account
  2. B
    In Profit and Loss Appropriation Account
  3. C
    On Asset side of Balance Sheet
  4. D
    On Liabilities side of Balance Sheet
Question 18Single Answer
Memorandum of Association contains –
  1. A
    Objective clause
  2. B
    Name clause
  3. C
    Capital clause
  4. D
    All of the above
Question 19Single Answer
If a cheque presented through the Clearing House is returned unpaid for any reason, the banker has to enclose the cheque to a Returning Memo while returning the instrument to the customer. This provision has been prescribed under:
  1. A
    Negotiable Instruments Act, 1881
  2. B
    Reserve Bank of India Act, 1934
  3. C
    Banking Regulation Act, 1949
  4. D
    RBI Clearing House Rules
Question 20Single Answer
By which of the following methods a Company Secretary can be removed from his post ?
  1. A
    By passing a resolution in Board Meeting
  2. B
    By order of Registrar of Companies
  3. C
    By passing a resolution in Annual General Meeting
  4. D
    None of the above
Question 21Single Answer
Which one of the following statements is correct in respect of Duty Drawback Scheme ?
  1. A
    Relieving export goods of duties paid for components used for manufacturing the export goods
  2. B
    Providing cash incentives to exporters to compensate the duty paid by them in foreign countries
  3. C
    Compensating importers to the extent of import duty paid by them for importing life-saving drugs
  4. D
    Providing a facility for withdrawing the duty paid by exporters if their exports are rejected in foreign countries
Question 22Single Answer
In foreign trade, what is the price quoted by a supplier which includes all charges incurred up to door delivery of goods to the buyer, called ?
  1. A
    Loco price
  2. B
    C.I.F. price
  3. C
    Franco price
  4. D
    Landed price
Question 23Single Answer
If the cost of goods sold is Rs. 1,00,000, the value of opening stock is Rs. 20,000 and the value of closing stock is Rs. 80,000, then the stock turnover ratio would be –
  1. A
    5 Times
  2. B
    4 Times
  3. C
    2 Times
  4. D
    1 Time
Question 24Single Answer
If profit made during the year is Rs. 10,000; increase and decrease in the current assets is Rs. 5,000 and Rs. 4,000 respectively, then the cash from operation equals –
  1. A
    Rs. 9,000
  2. B
    Rs. 10,000
  3. C
    Rs. 11,000
  4. D
    Rs. 19,000
Question 25Single Answer
Commercial paper is a –
  1. A
    long-term corporate security meant for small investors
  2. B
    medium-term corporate security meant for institutional investors
  3. C
    treasury paper meant for corporate investors
  4. D
    short-term corporate security meant for large-scale investors
Question 26Single Answer
A cartel is a combination of firms –
  1. A
    which are functioning in a particular industry
  2. B
    whose combined assets are worth more than 90% of total assets of the industry
  3. C
    who control major chunk of the market
  4. D
    whose combined profits are enormous
Question 27Single Answer
One of the major difficulties improving the industrial efficiency in enterprises is –
  1. A
    low investment
  2. B
    low productivity
  3. C
    ineffective marketing
  4. D
    poor inventory control
Question 28Single Answer
Exam Bank of India provides financial assistance to exporters and importers in India :
  1. A
    in foreign currency only
  2. B
    both in Indian currency and foreign currencies
  3. C
    as zero-interest loans
  4. D
    as subsidies
Question 29Single Answer
‘Object Clause’ of a Memorandum of Association can be altered by –
  1. A
    Ordinary resolution
  2. B
    Special resolution
  3. C
    Special resolution and confirmation by Registrar of Companies
  4. D
    Special resolution and confirmation by Company Law Board
Question 30Single Answer
The takeover of a company in which most of the purchase price is paid with borrowed money is referred to as –
  1. A
    hostile takeover
  2. B
    illegal takeover
  3. C
    leveraged buy-out
  4. D
    management buy-out
Question 31Single Answer
What Is The Shortcut Key For Calculator Area?
  1. A
    Ctrl+A
  2. B
    Ctrl+N
  3. C
    Ctrl+M
  4. D
    Ctrl+C
Question 32Single Answer
What Is The Shortcut Key To Change Period?
  1. A
    Ctrl+C
  2. B
    Ctrl+F2
  3. C
    Alt+F1
  4. D
    Alt+F2
Question 33Single Answer
Which Shortcut Key Is Used To Alter The Company Info?
  1. A
    Alt+F1
  2. B
    Alt+F2
  3. C
    Alt+F3
  4. D
    Ctrl+F1
Question 34Single Answer
"Day Book" Option In Tally Available In?
  1. A
    Multi Accounting Printing
  2. B
    Display
  3. C
    Ratio Analysis
  4. D
    Balance Sheet
Question 35Single Answer
For The Internal Transaction Of Account We Use?
  1. A
    Contra Voucher
  2. B
    Payment Voucher
  3. C
    Debit Note
  4. D
    Journal Entry
Question 36Single Answer
What Is The Shortcut Key Of Payment Entry?
  1. A
    F5
  2. B
    F6
  3. C
    F7
  4. D
    F8
Question 37Single Answer
Shortcut Key Of Print Is?
  1. A
    Alt+P
  2. B
    Ctrl+P
  3. C
    Alt+Ctrl+P
  4. D
    None Of These
Question 38Single Answer
Transfer Of Material Option Present In?
  1. A
    Accounting Voucher
  2. B
    Journal Entry
  3. C
    Inventry Voucher
  4. D
    None Of These
Question 39Single Answer
Shortcut Key For "Company Configuration" Is?
  1. A
    F11
  2. B
    F12
  3. C
    F10
  4. D
    F10
  5. E
    F3
Question 40Single Answer
Which One Of The Following Is A Fixed Asset?
  1. A
    Cash
  2. B
    Machinery
  3. C
    Bank
  4. D
    None Of These
Question 41Single Answer
Companies Act is governed by
  1. A
    RBI
  2. B
    SEBI
  3. C
    Partnership Act
  4. D
    Ministry of Corporate Affairs
Question 42Single Answer
Own shares purchased by a company with a view to reduce its capital is called
  1. A
    sale
  2. B
    Purchase
  3. C
    buy-back
  4. D
    Private placement
Question 43Single Answer
A company in which there is only one member is called
  1. A
    one member company
  2. B
    one person company
  3. C
    single company
  4. D
    Individual company
Question 44Single Answer
Shares which have preferential rights are called
  1. A
    Equity share
  2. B
    Preference share
  3. C
    Debenture
  4. D
    Bond
Question 45Single Answer
Which of the following is the registered capital of the company ?
  1. A
    Nominal capital
  2. B
    Authorised capital
  3. C
    Share capital
  4. D
    Both (a) and (b)
Question 46Single Answer
Capital which is called only at the time of winding-up of the company is called
  1. A
    Capital reserve
  2. B
    Reserve capital
  3. C
    Secure capital
  4. D
    Authorised capital
Question 47Single Answer
Which kind of preference share entitIes its holders to receive arrear of dividends of previous years ?
  1. A
    Cumulative preference share
  2. B
    Non-cumulative preference share
  3. C
    Convertible preference share
  4. D
    Non-convertible dividend share
Question 48Single Answer
Which document is an invitation offer to public to subscribe for company’s share ?
  1. A
    Red herring prospectus
  2. B
    Prospectus
  3. C
    In lieu of prospectus
  4. D
    None of the above
Question 49Single Answer
The balance of share forfeiture account can be used to
  1. A
    Provide for discount given at the time of reissue
  2. B
    Write-off preliminary expenses
  3. C
    Write-off bad debts
  4. D
    None of the above
Question 50Single 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. A
    6 : 7
  2. B
    7: 5
  3. C
    5 : 7
  4. D
    7 : 6
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