MCQOPTIONS
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MCQOPTIONS
This section includes 100 Mcqs, each offering curated multiple-choice questions to sharpen your Common Proficiency Test (CPT) - ICAI knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
When the breach of condition is treated as breach of warranty, buyer has right to: |
| A. | Claim damages |
| B. | Repudiate the contract |
| C. | Reject the goods |
| D. | None of the above |
| Answer» B. Repudiate the contract | |
| 52. |
Rasheed sends gold to Adam for making an ornament. This is a _____ |
| A. | Contract of sale |
| B. | Contract of work and labour |
| C. | Hire purchase agreement |
| D. | Sale on approval basis |
| Answer» C. Hire purchase agreement | |
| 53. |
Goods sold by description but not identified or agreed upon at the time of contract of sale are |
| A. | Specific goods |
| B. | Future goods |
| C. | Existing goods |
| D. | Unascertained goods |
| Answer» E. | |
| 54. |
Right of lien can be exercised by seller when ____ |
| A. | Goods are under possession of seller |
| B. | Goods are delivered to carrier |
| C. | Goods are delivered to buyer |
| D. | Goods are not under possession of seller |
| Answer» B. Goods are delivered to carrier | |
| 55. |
Giving keys of godown to buyer is _____ delivery. |
| A. | Constructive |
| B. | Symbolic |
| C. | Actual |
| D. | None of the above |
| Answer» C. Actual | |
| 56. |
In a concluded sale, if goods are destroyed, loss is to be faced by _____ |
| A. | Seller |
| B. | buyer |
| C. | Carrier |
| D. | Seller’s agent |
| Answer» C. Carrier | |
| 57. |
Caveat emptor means: |
| A. | Let the seller beware |
| B. | Let the buyer beware |
| C. | Let the creditor beware |
| D. | None of the above |
| Answer» C. Let the creditor beware | |
| 58. |
Which of the following is not a document of title to goods? |
| A. | Bill of lading |
| B. | Railway receipt |
| C. | Dock warrant |
| D. | Proforma Invoice |
| Answer» E. | |
| 59. |
Which of the following is not the right of an unpaid seller? |
| A. | To resell the goods |
| B. | To stop the goods in transit |
| C. | To retain the goods |
| D. | To demand back the goods |
| Answer» E. | |
| 60. |
Which of the following is essential of partnership deed? |
| A. | It should be made legally |
| B. | It should be enforceable |
| C. | It should be a written agreement between two or more persons |
| D. | It should be forbidden by law |
| Answer» D. It should be forbidden by law | |
| 61. |
Where in a partnership firm, the partners are entitled to interest on their capitals, such interest is payable ____ |
| A. | Only out of capital |
| B. | Only out of cash brought in by incoming partner towards goodwill |
| C. | Only out of profits of the firm |
| D. | None of the above |
| Answer» D. None of the above | |
| 62. |
The maximum number of partners in partnership firm rs determined by _____ |
| A. | Companies Act |
| B. | Partner Act |
| C. | Limitation Act |
| D. | None o the above |
| Answer» B. Partner Act | |
| 63. |
In a partnership consent of all partners is needed in case of |
| A. | Change in nature of business |
| B. | Routine matters |
| C. | Purchase of immovable property |
| D. | Both a) and b) |
| Answer» E. | |
| 64. |
Reconstitution of firm takes place except in case of |
| A. | Admission of partner |
| B. | Retirement of partner |
| C. | Change in profit sharing ratio |
| D. | Insolvency of partner |
| Answer» D. Insolvency of partner | |
| 65. |
Who does not actually take part in business and gives his name to the firm? |
| A. | Actual partner |
| B. | Sleeping partner |
| C. | Nominal partner |
| D. | None of the above |
| Answer» B. Sleeping partner | |
| 66. |
According to Neyman’s allocation, in stratified sampling |
| A. | Sample size is proportional to the population size |
| B. | Sample size is proportional to the sample SD |
| C. | Sample size is proportional to the sample variance |
| D. | Population size is proportional to the sample variance |
| Answer» B. Sample size is proportional to the sample SD | |
| 67. |
The second & third moments of observations (-6,-4,-2,0,2,4,6) are ______ |
| A. | (12,0) |
| B. | (0,12) |
| C. | (16,0) |
| D. | (0,16) |
| Answer» D. (0,16) | |
| 68. |
______ is / are Biparametric distribution(s). |
| A. | Binominal |
| B. | Poisson |
| C. | Normal |
| D. | Both a) & b) |
| Answer» D. Both a) & b) | |
| 69. |
A bag contains 6 green and 5 red balls. One ball is drawn at random. The probability of getting a red ball is? |
| A. | 5/11 |
| B. | 6/11 |
| C. | 5/6 |
| D. | None |
| Answer» B. 6/11 | |
| 70. |
Profits made by XYZ bank in different years refers to _____ |
| A. | Attribute |
| B. | Discrete variable |
| C. | Continuous variable |
| D. | None |
| Answer» D. None | |
| 71. |
In ______ method(s) information can be gathered by the researcher humself by contacting the interviewee. |
| A. | Personal Interview |
| B. | Telephone Interview |
| C. | Both a) & b) |
| D. | Indirect oral |
| Answer» D. Indirect oral | |
| 72. |
For construction of Histogram the class intervals of frequency distribution is |
| A. | Equal |
| B. | Unequal |
| C. | Either Equal or Unequal |
| D. | None |
| Answer» D. None | |
| 73. |
Difference modes of presentation of data are ___ |
| A. | Textual |
| B. | Tabular |
| C. | Both a) & b) |
| D. | None |
| Answer» D. None | |
| 74. |
The time reversal test is satisfied by _____ index number. |
| A. | Laspeyre’s |
| B. | Paasche’s |
| C. | Fisher’s |
| D. | None |
| Answer» D. None | |
| 75. |
Regression lines are passes through the _____ points |
| A. | Mean |
| B. | Standard deviation |
| C. | Both a) & b) |
| D. | None |
| Answer» B. Standard deviation | |
| 76. |
Regression coefficient is affected by _____ |
| A. | Change of origin |
| B. | Change of Scale |
| C. | Both origin & Scale |
| D. | Neither origin nor scale |
| Answer» C. Both origin & Scale | |
| 77. |
If the sum of the square of rank differences in the marks of 10 students in two students is 44 then the coefficient of rank correlation is ______ |
| A. | 0.78 |
| B. | 0.73 |
| C. | 0.87 |
| D. | None |
| Answer» C. 0.87 | |
| 78. |
The mean of 6,4,1,5,6,10 and 3 is 5. If each number is added with 2, then the new mean is |
| A. | 7 |
| B. | 5 |
| C. | 6 |
| D. | 10 |
| Answer» B. 5 | |
| 79. |
The mean of 10 observations is 14.4. Out of these mean of 4 observations is 16.5, then find the mean of remaining observations? |
| A. | 13.6 |
| B. | 13 |
| C. | 13.8 |
| D. | 12 |
| Answer» C. 13.8 | |
| 80. |
________ is used for ordering the size of designed cloths. |
| A. | Mean |
| B. | Median |
| C. | Mode |
| D. | None |
| Answer» D. None | |
| 81. |
If the mean of data is 55.6 and the mode is 46, then the ,edian is ______ |
| A. | 50.4 |
| B. | 40.7 |
| C. | 52.4 |
| D. | None |
| Answer» D. None | |
| 82. |
The G.M of observations 40, 50 and x is 10, then find the value of x? |
| A. | 4 |
| B. | 5 |
| C. | 2 |
| D. | 1/2 |
| Answer» E. | |
| 83. |
If a person lends Rs.6,000 for 4 years and year at the rate of 4% compounded semiannually then the sum invested is |
| A. | 7,000 |
| B. | 7,500 |
| C. | 7,750 |
| D. | 8,000 |
| Answer» B. 7,500 | |
| 84. |
A bag contains 23 number of coins in form of 1 rupee, 2 rupee and 5 rupee coins. The total sum of the coins is Rs. 43. The ratio between 1 rupee & 2 rupee coins is 3:2. Then the number of 1 rupee coins |
| A. | 12 |
| B. | 8 |
| C. | 10 |
| D. | 16 |
| Answer» B. 8 | |
| 85. |
How many numbers between 1000 and 10,000 can be formed with the digits 1, 2, 3, 4, 5, 6 |
| A. | 720 |
| B. | 360 |
| C. | 120 |
| D. | 60 |
| Answer» C. 120 | |
| 86. |
Particular company produces some articles on a day. The cost of production per article is Rs.2 more than thrice the number of articles and the total cost of production is Rs.800 on a day then the number of articles is |
| A. | 16 |
| B. | 14 |
| C. | 18 |
| D. | 15 |
| Answer» B. 14 | |
| 87. |
A triangle formed by the lines y = 0, x + 2y = 3, 2x – y = 1 |
| A. | Isosceles triangle |
| B. | Equilateral triangle |
| C. | Right angled triangle |
| D. | None of these |
| Answer» D. None of these | |
| 88. |
A person received the salary for the 1st year is Rs. 5,00,000 per year and he received an increment of Rs. 15,000 per year then the sum of the salary he taken in 10 years |
| A. | Rs. 56,75,000 |
| B. | Rs. 72,75,000 |
| C. | Rs. 63,75,000 |
| D. | Rs. None of these |
| Answer» B. Rs. 72,75,000 | |
| 89. |
The number of terms of the series needed for the sum of the series 50+45+40+….. becomes zero |
| A. | 22 |
| B. | 21 |
| C. | 20 |
| D. | None |
| Answer» C. 20 | |
| 90. |
2.353535 ……….= |
| A. | 233/99 |
| B. | 234/99 |
| C. | 232/99 |
| D. | 235/99 |
| Answer» B. 234/99 | |
| 91. |
The number of subsets formed from the letters of the word “ALLAHBAD”. |
| A. | 128 |
| B. | 16 |
| C. | 32 |
| D. | None |
| Answer» D. None | |
| 92. |
Given log 2 = 0.3010 and log 3 = 0.4771 then the value of log 24 |
| A. | 1.3081 |
| B. | 1.1038 |
| C. | 1.3801 |
| D. | 1.8301 |
| Answer» D. 1.8301 | |
| 93. |
Which of the following is not included in domestic territory? |
| A. | Ships and aircrafts operated by1he residents of the country between two or more countries |
| B. | Fishing vessels, oil and natural gas rigs, and floating platforms operated by the residents of the country |
| C. | Embassies, consulates and military establishments of the country located abroad |
| D. | Personal investments by residents in abroad |
| Answer» E. | |
| 94. |
Per capital income = _____ |
| A. | NNP is divided by total population |
| B. | Population is divided by NNP |
| C. | Total capital divided by population |
| D. | None |
| Answer» B. Population is divided by NNP | |
| 95. |
Government has permitted up to ____% Foreign Direct Investment {FDI) by foreign airlines in Indian airline companies. |
| A. | 26 |
| B. | 49 |
| C. | 51 |
| D. | 74 |
| Answer» C. 51 | |
| 96. |
Which of the following is not correctly matched: |
| A. | Liberalisation – relaxation of previous government restrictions usually in areas of social and economic policies |
| B. | Privatisation – the transfer of assets or service functions from public to private ownership |
| C. | Disinvestment – disposal of private sector’s unit to public sector |
| D. | Globalisation – integrating the domestic economy with the world economy |
| Answer» D. Globalisation – integrating the domestic economy with the world economy | |
| 97. |
____ is a systematic record of all the economic transactions between one country and rest of the world. |
| A. | Balance of trade. |
| B. | Balance of transactions. |
| C. | Budget |
| D. | Balance of payments |
| Answer» E. | |
| 98. |
_____ is the difference between total receipts and total expenditure. |
| A. | Fiscal deficit |
| B. | Budget deficit |
| C. | Revenue deficit |
| D. | Capital deficit |
| Answer» C. Revenue deficit | |
| 99. |
Which of the following is not a direct tax? |
| A. | Gift tax |
| B. | Corporate income tax |
| C. | VAT |
| D. | Wealth tax |
| Answer» D. Wealth tax | |
| 100. |
Which committee recommended simplification and rationalization of tax system in India : |
| A. | Chelliah |
| B. | Bootha lingam |
| C. | Both a & b |
| D. | Urjit Patel |
| Answer» D. Urjit Patel | |