MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
In India, most of the unemployment isn_____ |
| A. | Disguised |
| B. | Open |
| C. | Cyclical |
| D. | Urban |
| Answer» D. Urban | |
| 2. |
National Bank for agriculture and rural development (NABARD) is _____ |
| A. | a commercial bank |
| B. | a co-operative bank |
| C. | an apex bank set up for rural u0026 agriculturecredit |
| D. | a subsidiary of SBI |
| Answer» D. a subsidiary of SBI | |
| 3. |
Personal disposable income is _______ |
| A. | Personal Income – net indirect taxes |
| B. | Personal Income – Indirect taxes |
| C. | Personal Income – personal taxes |
| D. | none of these |
| Answer» D. none of these | |
| 4. |
The main reason behind the implementation of economic reforms in the year 1991 is ____ |
| A. | Indication from world bank |
| B. | Failure of economic policies of presentgovernment |
| C. | low foreign exchange reserves |
| D. | none of these |
| Answer» D. none of these | |
| 5. |
National Income is measured by _____ |
| A. | Ministry of finance |
| B. | CSO |
| C. | RBI |
| D. | SBI |
| Answer» C. RBI | |
| 6. |
Which of the following related to financial reforms _____ |
| A. | Banking |
| B. | Insurance |
| C. | Capital |
| D. | All of these |
| Answer» E. | |
| 7. |
The difference between narrow money and broad money is _____ |
| A. | Time deposits |
| B. | Saving deposits |
| C. | Post office saving deposits |
| D. | none of these |
| Answer» B. Saving deposits | |
| 8. |
The first stage of law of variable proportions is known as _____ |
| A. | increasing returns |
| B. | diminishing returns |
| C. | constant returns |
| D. | none |
| Answer» B. diminishing returns | |
| 9. |
FindnAFC of 2 units by using the table given below: Output 0 1 2 TC 580 690 850 |
| A. | 105 |
| B. | 135 |
| C. | 290 |
| D. | 161 |
| Answer» D. 161 | |
| 10. |
Which is the regulatory authority of telecom in India |
| A. | BSNL |
| B. | MTNL |
| C. | SEBI |
| D. | TRAI |
| Answer» E. | |
| 11. |
If the total utility of a commodity is 5 and marginal utility is 1, a person consumes 3 units. What is consumer’s surplus? |
| A. | 6 |
| B. | 8 |
| C. | 2 |
| D. | 3 |
| Answer» D. 3 | |
| 12. |
The IRDP was started in ____ plan |
| A. | 5th |
| B. | 6th |
| C. | 7th |
| D. | 8th |
| Answer» C. 7th | |
| 13. |
Average revenue curve is also known as ___ |
| A. | profit curve |
| B. | demand curve |
| C. | supply curve |
| D. | none of these |
| Answer» C. supply curve | |
| 14. |
Which of the following statements is in correct? |
| A. | Competitive firms are price takers and notprice makers |
| B. | Price discrimination is possible inmonopoly only |
| C. | Duopoly may lead to monopoly |
| D. | Competitive firms always try todiscriminate prices |
| Answer» E. | |
| 15. |
When the income increases, then demand decreases for ____ |
| A. | veblen goods |
| B. | conspicuous goods |
| C. | normal goods |
| D. | inferior goods |
| Answer» E. | |
| 16. |
When supply curve takes a rightward shift, then supply ____ |
| A. | decreases |
| B. | contracts |
| C. | expands |
| D. | increases |
| Answer» E. | |
| 17. |
AR u0026 MR are same in ____ market |
| A. | oligopoly |
| B. | monopoly |
| C. | perfect competition |
| D. | none |
| Answer» D. none | |
| 18. |
An increase in demand with unchanged supply leads to ____ |
| A. | rise in price |
| B. | fall in price |
| C. | no change in price |
| D. | an increase in supply |
| Answer» B. fall in price | |
| 19. |
In monopoly when price elasticity is 1, then the MR is___ |
| A. | 1 |
| B. | 0 |
| C. | negative |
| D. | positive |
| Answer» C. negative | |
| 20. |
Amount paid to the outside factors of production are known as ___ |
| A. | implicit costs |
| B. | explicit costs |
| C. | traceable costs |
| D. | opportunity costs |
| Answer» C. traceable costs | |
| 21. |
Long run price is also known as ____ |
| A. | administered price |
| B. | market price |
| C. | normal price |
| D. | none |
| Answer» D. none | |
| 22. |
OPEC is an example for |
| A. | monopoly |
| B. | monopolistic competition |
| C. | perfect competition |
| D. | oligopoly |
| Answer» E. | |
| 23. |
The firms AFC is Rs.200 for 10 units. What will be the average fixed costs at 20 units? |
| A. | 500 |
| B. | 100 |
| C. | 150 |
| D. | 300 |
| Answer» C. 150 | |
| 24. |
Direct costs are also known as ____ |
| A. | traceable costs |
| B. | indirect costs |
| C. | opportunity costs |
| D. | none of these |
| Answer» B. indirect costs | |
| 25. |
Toothpaste industry is an example for ____ |
| A. | monopoly |
| B. | monopolistic competition |
| C. | oligopoly |
| D. | perfect competition |
| Answer» C. oligopoly | |
| 26. |
The implied warranty of contract of sale |
| A. | The goods should satisfy buyer purpose |
| B. | The right of the seller to sell the goods |
| C. | Seller can get back his goods at any time |
| D. | none of these |
| Answer» B. The right of the seller to sell the goods | |
| 27. |
Micro Economics is connected with ____ |
| A. | Consumer’s Behaviour |
| B. | Product pricing |
| C. | Factor pricing |
| D. | all of these |
| Answer» E. | |
| 28. |
Fixed costs are also called ____ |
| A. | direct costs |
| B. | prime costs |
| C. | supplementary costs |
| D. | opportunity costs |
| Answer» D. opportunity costs | |
| 29. |
If the goods are “perishable goods” then seller resales the goods then the buyer gets |
| A. | good title |
| B. | partied goods |
| C. | no title |
| D. | none |
| Answer» B. partied goods | |
| 30. |
Allocation of resources is the subject matter of _____ |
| A. | Micro economics |
| B. | Macro economics |
| C. | Development economics |
| D. | Welfare economics |
| Answer» B. Macro economics | |
| 31. |
A partner in an dangerous situation can act as a person who is in ____ |
| A. | ordinary situation |
| B. | as an agent of the firm |
| C. | as an major in the firm |
| D. | all of the above |
| Answer» E. | |
| 32. |
In case of _____ sale, it is subjected to be complete at reserve price |
| A. | Sale of sample |
| B. | Sale of description |
| C. | Sale of auction |
| D. | Reissue of shares |
| Answer» D. Reissue of shares | |
| 33. |
A invites B to attend to his son’s Birthday party and arranged everything but B failed then |
| A. | Here there is no contract |
| B. | There is no intention to create relationship |
| C. | both of the above |
| D. | none of the above |
| Answer» C. both of the above | |
| 34. |
Under the Indian contract act 1872, the age of the person to enter into the contract is |
| A. | 21 years |
| B. | 16 years |
| C. | less than one day of 18 years |
| D. | 1 day more than 18 years |
| Answer» E. | |
| 35. |
The transactions collateral to illegal agreements is ____ |
| A. | valid |
| B. | voidable at the option of plaintiff |
| C. | also illegal u0026 not enforceable by law |
| D. | none of these |
| Answer» D. none of these | |
| 36. |
A sleeping partner is ____ |
| A. | not take active part in the firm |
| B. | take only salary from the firm |
| C. | not contribute capital to the firm |
| D. | none of these |
| Answer» B. take only salary from the firm | |
| 37. |
Counter offer is a ____ |
| A. | change in the original offer |
| B. | rejection of original offer |
| C. | same as original offer |
| D. | not a offer at all |
| Answer» B. rejection of original offer | |
| 38. |
An unpaid seller’s right of storage of goods in nntransit can be excised only the buyer is nninsolvent |
| A. | true |
| B. | partly true |
| C. | false |
| D. | none |
| Answer» B. partly true | |
| 39. |
Partnership agreement between persons arise from |
| A. | the states of person |
| B. | operation of law |
| C. | the contract of those person |
| D. | none of these |
| Answer» D. none of these | |
| 40. |
A agrees to sell B smuggled goods for Rs.1000 per unit. The agreement is void due to |
| A. | uncertainty |
| B. | illegality |
| C. | impossibility |
| D. | immortality |
| Answer» C. impossibility | |
| 41. |
Rosa paid Rs.1,200 on 1-7-09 towards yearly nnsubscription (July 1, 2009 to June 30, 2010) nnof a newspaper. It means she has to make nnadjustment of _____ expenses for finalisation nnof a/cnfor the year ended 31-3-10 |
| A. | Rs.300 as prepaid |
| B. | Rs.300 as outstanding |
| C. | Rs.200 as prepaid |
| D. | Rs.200 as outstanding |
| Answer» B. Rs.300 as outstanding | |
| 42. |
At the end of financial year, accounts nnreceivable has a balance of Rs.1 lakh u0026 nnprovision for bad u0026 doubtful debts provided nnamounting to Rs.7,000. The expected of net nnrealisable value of A/c receivable is Rs.____ |
| A. | ) 7,000 |
| B. | 1,07,000 |
| C. | 93,000 |
| D. | 1,00,000 |
| Answer» D. 1,00,000 | |
| 43. |
Reserve price is considered in ____ |
| A. | sale by sample |
| B. | sale by description |
| C. | sale by auction |
| D. | all of the above |
| Answer» D. all of the above | |
| 44. |
A owned Rs. 25,000 to B. A is insolvent. B nngot A’s computer valuing Rs. 11,500 in full nnsettlement.nPass the Journal entry in the nnbooks of B. |
| A. | Purchases a/c Dr 11,500To A a/c11,500 |
| B. | ) Computer a/cDr11,500Bad debts a/cDr.13,500 |
| C. | Computer a/cDr25,000To A a/c25,000 |
| D. | Computer A/cDr11,500To A a/c11,500 |
| Answer» C. Computer a/cDr25,000To A a/c25,000 | |
| 45. |
Cost of goods sold Rs.10,000, Opening stock nnRs.2,000 and Closing stock Rs. 3,000. Find nnthe amount of purchases _____ |
| A. | Rs.10,000 |
| B. | Rs.11,000 |
| C. | Rs.15,000 |
| D. | Rs.9,000 |
| Answer» C. Rs.15,000 | |
| 46. |
A company forfeited 2000 shares of Rs. 1o each held by Mr. John for non payment of allotment money of Rs. 4 per share. The called up value per share was Rs. 9 on forfeiture. The amount debited to share capital will be Rs._____ |
| A. | 10,000 |
| B. | 8,000 |
| C. | 2,000 |
| D. | 18,000 |
| Answer» E. | |
| 47. |
An amount of Rs. 8765 paid to M was nndebited to N |
| A. | increase in net profit |
| B. | Decrease in net profit |
| C. | increase in asset |
| D. | no effect on net profit |
| Answer» E. | |
| 48. |
A sold goods to B on credit for Rs. 10,000 but debited to C instead of B. What will be effected ? |
| A. | trail balance |
| B. | individual account |
| C. | balance sheet |
| D. | total debtors |
| Answer» C. balance sheet | |
| 49. |
A purchased a computer on 1-4-06 for Rs.60,000 and another on 1-10-07 for Rs.40, 000. He charged depreciation @ 20% p.a under straight line method. What will be the balance as on 31-03-09 ? |
| A. | Rs.40,000 |
| B. | Rs.64,000 |
| C. | Rs.52,000 |
| D. | Rs.48,000 |
| Answer» D. Rs.48,000 | |
| 50. |
On 31-3-09 the balance of the cash book is rs. 7074 (credit) and balance as per bank statement is Rs. 3159 (debit). On scrutiny it was found that the difference was due to cheque issued but not yet presented for payment.The bank balance as on 31-3-09will be shown in bank statement as ____ |
| A. | as bank overdraft Rs. 3159 |
| B. | as cash at bank Rs. 7074 |
| C. | as bank overdraft Rs. 7074 |
| D. | as cash at bank Rs. 3159 |
| Answer» B. as cash at bank Rs. 7074 | |