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Objective Questions

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

Subjects : Professional Knowledge (F&A), General Awareness, English Language, Logical Reasoning, Quantitative Aptitude

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Professional Knowledge (F&A)

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
Which of the following is the apex financial institution in India ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Pension Fund Regulatory and Development Authority of India
Question 32Single Answer
The Reserve Bank of India is responsible for :
  1. A
    Issuing currency notes
  2. B
    Regulating the banking sector
  3. C
    Maintaining the country's foreign exchange reserves
  4. D
    All of the above
Question 33Single Answer
The Securities and Exchange Board of India (SEBI) is responsible for ?
  1. A
    Regulating the securities market
  2. B
    Protecting the interests of investors
  3. C
    Promoting fair and transparent trading practices
  4. D
    All of the above
Question 34Single Answer
The Insurance Regulatory and Development Authority of India (IRDAI) is responsible for :
  1. A
    Regulating the insurance sector
  2. B
    Protecting the interests of policyholders
  3. C
    Promoting fair and transparent insurance practices
  4. D
    All of the above
Question 35Single Answer
The Pension Fund Regulatory and Development Authority of India (PFRDA) is responsible for :
  1. A
    Regulating the pension sector
  2. B
    Protecting the interests of pension subscribers
  3. C
    Promoting fair and transparent pension practices
  4. D
    All of the above
Question 36Single Answer
Which of the following is NOT a function of a financial regulatory body ?
  1. A
    Issuing licenses to financial institutions
  2. B
    Conducting inspections and audits of financial institutions
  3. C
    Investigating and prosecuting financial crimes
  4. D
    Managing the country's fiscal policy
Question 37Single Answer
Which of the following is an example of a regulatory measure that can be taken by a financial regulatory body ?
  1. A
    Raising or lowering interest rates
  2. B
    Setting limits on lending
  3. C
    Requiring financial institutions to disclose certain information
  4. D
    All of the above
Question 38Single Answer
What is the importance of financial regulation ?
  1. A
    To protect consumers
  2. B
    To promote financial stability
  3. C
    To ensure fair and transparent markets
  4. D
    All of the above
Question 39Single Answer
Which of the following is a challenge faced by financial regulators in India ?
  1. A
    The growing complexity of the financial system
  2. B
    The increasing use of technology
  3. C
    The globalization of financial markets
  4. D
    All of the above
Question 40Single Answer
What are the two main categories of taxes in India ?
  1. A
    Income tax and property tax
  2. B
    Direct taxes and indirect taxes
  3. C
    Central taxes and state taxes
  4. D
    Corporate tax and sales tax
Question 41Single Answer
Which of the following is an example of a direct tax in India ?
  1. A
    Goods and Services Tax (GST)
  2. B
    Value Added Tax (VAT)
  3. C
    Income Tax
  4. D
    Excise Duty
Question 42Single Answer
Which tax is imposed on the income earned by individuals and businesses in India ?
  1. A
    Sales Tax
  2. B
    Property Tax
  3. C
    Income Tax
  4. D
    Service Tax
Question 43Single Answer
What is the maximum rate of income tax for individuals and Hindu Undivided Families (HUFs) in India as of the knowledge cutoff date in 2021 ?
  1. A
    10 %
  2. B
    20 %
  3. C
    30 %
  4. D
    40 %
Question 44Single Answer
Which of the following taxes is considered an indirect tax in India ?
  1. A
    Property Tax
  2. B
    Goods and Services Tax (GST)
  3. C
    Income Tax
  4. D
    Wealth Tax
Question 45Single Answer
What can be done to improve financial regulation in India ?
  1. A
    Increase the resources available to financial regulators
  2. B
    Enhance coordination between different regulatory bodies
  3. C
    Strengthen the enforcement of financial regulations
  4. D
    All of the above
Question 46Single Answer
Under the GST regime in India, which entity is responsible for the collection of GST ?
  1. A
    State Governments
  2. B
    Central Government
  3. C
    Local Municipalities
  4. D
    Both Central and State Governments
Question 47Single Answer
The RBI Act, 1934 established the ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Pension Fund Regulatory and Development Authority of India
Question 48Single Answer
GST stands for :
  1. A
    Goods and Services Tax
  2. B
    General Sales Tax
  3. C
    Gross State Tax
  4. D
    Goods and Sales Tax
Question 49Single Answer
What is the main objective of the Goods and Services Tax (GST) in India ?
  1. A
    To increase the burden of taxation on businesses
  2. B
    To streamline and simplify the indirect tax system
  3. C
    To eliminate all forms of taxation
  4. D
    To reduce the rates of direct taxes
Question 50Single Answer
The SEBI Act, 1992 established the :
  1. A
    Securities and Exchange Board of India
  2. B
    Insurance Regulatory and Development Authority of India
  3. C
    Pension Fund Regulatory and Development Authority of India
  4. D
    Reserve Bank of India
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