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Objective Questions

Latest SCI Assistant Manager Exam Question (Objective Questions), MCQ in English

Subjects : Finance, General Awareness & Current Affairs, Quantitative Aptitude, Logic & Reasoning, English Language & Reading Comprehension, Computer Knowledge

Question Bank SCI Assistant Manager (Finance) Exam - English
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General Awareness & Current Affairs

Question 1Single Answer
Yojna a weekly journal
  1. A
    Ministry of Finance        
  2. B
    Ministry of Information and Broadcastin
  3. C
    Ministry of Rural Development
  4. D
    Planning Commission
Question 2Single Answer

"Who said, 'India was a parrot unto itself'?

  1. A
    Malik Muhammad Joyce
  2. B
    Raskhan
  3. C
    Rich Khusrow
  4. D
    Rich Hasan
Question 3Single Answer
Which is the national game of Bhutan ?
  1. A
    badminton
  2. B
    basketball
  3. C
    football
  4. D
    archery
Question 4Single Answer
When was the Constituent Assembly of India formed?
  1. A
    1946
  2. B
    1947
  3. C
    1948
  4. D
    1950
Question 5Single Answer
Who is known as the "Father of the Indian Renaissance" ?
  1. A
    Raja Ram Mohan Roy
  2. B
    Swami Vivekananda
  3. C
    Rabindranath Tagore
  4. D
    Mahatma Gandhi
Question 6Single Answer
Who is known as the "Missile Man of India"?
  1. A
    Dr. Homi J. Bhabha
  2. B
    Dr. Vikram Sarabhai
  3. C
    Dr. APJ Abdul Kalam
  4. D
    Dr. Satish Dhawan
Question 7Single Answer
Which state is hosting the National SARAS Mela 2025?
  1. A
    Karnataka
  2. B
    Maharashtra
  3. C
    Kerala
  4. D
    Gujarat
Question 8Single Answer
Which ministry released the ‘UDISE Plus’ Report in 2025?
  1. A
    Ministry of Finance
  2. B
    Ministry of Education
  3. C
    Ministry of Culture
  4. D
    Ministry of Urban Development
Question 9Single Answer
Which city reported a surge in Guillain-Barré Syndrome (GBS) cases in August 2025?
  1. A
    Jerusalem
  2. B
    Gaza
  3. C
    Tehran
  4. D
    Damascus
Question 10Single Answer
Where was the maiden Exercise Aarogya Setu organized by the Indian Army?
  1. A
    Sikkim
  2. B
    Assam
  3. C
    Tripura
  4. D
    Odisha

Finance

Question 11Single 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 12Single 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 13Single Answer
Bonus Shares are issued to –
  1. A
    Equity Shareholders
  2. B
    Preference Shareholders
  3. C
    Debenture Holders
  4. D
    Secured Creditors
Question 14Single 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 15Single 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 16Single 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 17Single Answer
Which is the oldest form of organisation ?
  1. A
    Line
  2. B
    Line and staff
  3. C
    Functional
  4. D
    Matrix
Question 18Single 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 19Single Answer
Standard costing is a technique of –
  1. A
    Planning
  2. B
    Organising
  3. C
    Coordination
  4. D
    Control
Question 20Single 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 21Single Answer
What is the full form of GST ?
  1. A
    General Sales Tax
  2. B
    Goods and Service Tax
  3. C
    Government Service Tax
  4. D
    Gross Service Tax
Question 22Single Answer
In which year was GST implemented in India ?
  1. A
    2015
  2. B
    2016
  3. C
    2017
  4. D
    2018
Question 23Single Answer
Which of the following taxes were subsumed under GST ?
  1. A
    Central Excise Duty
  2. B
    State Value Added Tax (VAT)
  3. C
    Service Tax
  4. D
    All of the above
Question 24Single Answer
GST is a multi-stage tax levied on :
  1. A
    Production of goods only
  2. B
    Consumption of services only
  3. C
    Both (a) and (b)
  4. D
    Value addition at each stage
Question 25Single Answer
What are the different types of GST ?
  1. A
    Central GST (CGST) and State GST (SGST) only
  2. B
    Central GST (CGST), State GST (SGST), and Integrated GST (IGST)
  3. C
    Central GST (CGST) and Union Territory GST (UTGST)
  4. D
    National GST (NGST) and Local GST (LGST)
Question 26Single Answer
What is the primary purpose of accounting?
  1. A
    To calculate profits
  2. B
    To record financial transactions
  3. C
    To prepare financial statements
  4. D
    To calculate taxes
Question 27Single Answer
Which of the following is NOT a branch of accounting?
  1. A
    Financial accounting
  2. B
    Cost accounting
  3. C
    Management accounting
  4. D
    Taxation accounting
Question 28Single Answer
Which of the following is an international accounting standard-setting body?
  1. A
    IASC
  2. B
    ICAI
  3. C
    IASB
  4. D
    SEBI
Question 29Single Answer
What is the full form of IAS in accounting?
  1. A
    International Accounting Standards
  2. B
    Internal Accounting Standards
  3. C
    International Audit Standards
  4. D
    Indian Accounting Standards
Question 30Single Answer
What is the main difference between financial accounting and management accounting?
  1. A
    Management accounting deals with internal reporting, while financial accounting deals with external reporting.
  2. B
    Financial accounting is more detailed than management accounting.
  3. C
    Management accounting is based on auditing principles.
  4. D
    Financial accounting focuses on cost control.
Question 31Single Answer
Which of the following is the correct order of financial statements?
  1. A
    Income Statement, Balance Sheet, Cash Flow Statement
  2. B
    Cash Flow Statement, Balance Sheet, Income Statement
  3. C
    Balance Sheet, Income Statement, Cash Flow Statement
  4. D
    Balance Sheet, Cash Flow Statement, Income Statement
Question 32Single Answer
Which organization sets accounting standards in India?
  1. A
    SEBI
  2. B
    RBI
  3. C
    ICAI
  4. D
    NSE
Question 33Single Answer
Which of the following is included in the National Accounting Standards in India?
  1. A
    Ind AS
  2. B
    IFRS
  3. C
    GAAP
  4. D
    IAS
Question 34Single Answer
Which standard sets out the accounting treatment for inventory?
  1. A
    AS 1
  2. B
    AS 2
  3. C
    AS 3
  4. D
    AS 4
Question 35Single Answer
The International Financial Reporting Standards (IFRS) are intended to achieve?
  1. A
    Harmonization of accounting standards worldwide
  2. B
    Standardization of tax policies worldwide
  3. C
    Uniformity of currency exchange rates
  4. D
    Similarities in the corporate tax rates
Question 36Single Answer
What is the primary purpose of cost accounting?
  1. A
    To calculate the profit of an organization
  2. B
    To determine the cost of goods sold
  3. C
    To determine and control the cost of production
  4. D
    To assess the market value of a product
Question 37Single Answer
Which of the following is NOT an element of cost?
  1. A
    Direct materials
  2. B
    Direct labor
  3. C
    Administrative expenses
  4. D
    Factory rent
Question 38Single Answer
A 'cost unit' refers to:
  1. A
    A group of cost centers
  2. B
    A unit of product or service to which costs are assigned
  3. C
    A method of allocating indirect costs
  4. D
    A method of pricing products
Question 39Single Answer
Which of the following is an example of a 'cost center'?
  1. A
    The entire manufacturing unit
  2. B
    A specific department like production or maintenance
  3. C
    The final product
  4. D
    A product line
Question 40Single Answer
What is the role of a cost center in cost accounting?
  1. A
    To determine profit and loss
  2. B
    To accumulate costs for a specific area of responsibility
  3. C
    To calculate overheads
  4. D
    To determine the market price of products
Question 41Single Answer
Which of the following is an example of direct cost?
  1. A
    Rent of factory building
  2. B
    Salaries of sales personnel
  3. C
    Cost of raw materials used in production
  4. D
    Insurance of machinery
Question 42Single Answer
In cost accounting, indirect costs are also known as:
  1. A
    Prime costs
  2. B
    Operating costs
  3. C
    Overheads
  4. D
    Direct costs
Question 43Single Answer
Which system of cost ascertainment is most suitable for a company manufacturing a large number of standardized products?
  1. A
    Job order costing
  2. B
    Process costing
  3. C
    Contract costing
  4. D
    Activity-based costing
Question 44Single Answer
Which of the following is a method for controlling direct material costs?
  1. A
    Standard costing
  2. B
    Budgeting
  3. C
    Both a and b
  4. D
    Absorption costing
Question 45Single Answer
The cost of materials used in production is classified as:
  1. A
    Fixed cost
  2. B
    Variable cost
  3. C
    Direct cost
  4. D
    Indirect cost
Question 46Single Answer
Interest income accruing outside India but received by a resident in India is taxable in India if he is:
  1. A
    A non-resident
  2. B
    A resident but not ordinarily resident
  3. C
    A resident who is ordinarily resident
  4. D
    Any resident
Question 47Single Answer
Income from a business controlled from India is taxable in the hands of a resident who is ordinarily resident even if it accrues or arises outside India, if:
  1. A
    The whole income is taxable
  2. B
    50% of the income is taxable
  3. C
    Only the income attributable to the control in India is taxable
  4. D
    The income is exempt
Question 48Single Answer
A foreign company is said to be resident in India if its place of effective management (POEM) in the previous year is:
  1. A
    In India
  2. B
    Outside India
  3. C
    Partly in India and partly outside India
  4. D
    Irrelevant for residency
Question 49Single Answer
An individual who has been a non-resident in India for 9 out of the 10 previous years preceding the relevant previous year is a:
  1. A
    Resident
  2. B
    Resident but Not Ordinarily Resident
  3. C
    Non-resident
  4. D
    Deemed resident
Question 50Single Answer
An individual who has been in India for a period of 730 days or more during the 7 previous years preceding the relevant previous year and also satisfies the basic condition for being a resident is a:
  1. A
    Non-resident
  2. B
    Resident who is Ordinarily Resident
  3. C
    Resident but Not Ordinarily Resident
  4. D
    Deemed resident
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