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WRITTEN EXAMINATION FORMANAGEMENT TRAINEE (ACCOUNTS)

TIME ALLOWED : 3 HOURS MAXIMUM MARKS : 170

INSTRUCTION FOR CANDIDATES:

1. Answers are to be marked / written with ball pen/ink pen on the separateanswer sheets provided for this purpose. Use of calculator and otherelectronic gazettes is not permitted.

2. Question paper contains IV Parts, questions in Part-I to Part-III are objectivetype for which write the correct alternative from the options provided.Questions in Part-IV are descriptive.

3. The questions in Part-I to Part-III ca rry 1 mark each and questions in Part-IVcarry different marks as stated with each question.

4. Candidates shall write the name, roll number and category only on providedfly leaf. Candidates should not write his/her name, roll number, signatures ormake any other mark or indication showing, direc tly or indirectly, his/heridentity on the question paper and answer sheets. Such an action will makehis/her candidature liable to cancellation.

5. Question paper and answer sheets should be returned to the invigilator at theend of examination. Candidates found adopting unfair means will bedisqualified.


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PART I

1. According to Accounting Standard -6, depreciation is to be provided on thebasis of

a) Historical cost of the Assetsb) Market price of the Assetsc) Replacement cost of the Assetsd) None of above

2. Sale of inventory for cash will cause the current ratio toa) Increaseb) Decreasec) Remain unchangedd) None of above

3. Issue of Share Capital in consideration to purchase of Plant & Machinery resultinto

a) Source of fundsb) Application of fundsc) No flow of fundsd) None of above

4. Which of the following option do not pose a burden on the finance of theCompany

a) Public depositb) Debenturesc) Loans from Financial Institutionsd) Retained Earningse) None of above

5. The limited review report by the auditors has to be provided within :

a)One month from the end of quarter b)Two months from the end of the quarter c)Oneand half months from the end of the quarter d)Three months from the end of the quartere) None of above

6.The effective income tax rate on the corporate dividend distribution at present is :

a)16.5 b)16.995 c)11 d)11.30 e) None of above

7. The certificate for compliance of C orporate Governance requirements is issued underwhich clause of listing agreement :

a)C lause-41 b) Clause-46 c)Clause-49 d)C lause-50 e) None of above

8.When an amount of Rs.10,00,000 as initial outflow in a projec t by company has resultedin an inflow of Rs.1,21,0000 after two years, what is the IRR of this project:

a)21% b)10% c)10.50% d)9.5% e) None of above


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9. Three copies of the accounts of the company are to be filed with the registrar ofcompanies within from the date of their approval in the AGM :

a)15 days b) 60 days c)45 days d)30 days e) None of above

10. How may zeros are there in a billion :

(1)8 (2)9 (3)10 (4)11 (5)12

11. Fixed Deposit are shown in the Balance Sheet of a Company under the head:-a)Secured Loanb)Unsecured Loanc)Current Liabilityd)C ontingent Liabilitye) None of above

12. Record date declared by a company is basically for the purpose ofa) Declaration of dividend b) Board of directors meetingc) Repayment of loan d) Appointment of Managing Directore) None of above

13. The accounts of a company has to be filed with the registrar of companies within30 days from the date of :a) Its approval by Board of direc tors b)Submission of Auditors reportc) Its approval in Annual General Meeting d) Signing of Ac countse) None of above

14. The report of the Statutory Auditors in a Government Company is addressed to :

a) Board of Directors b) Chairman of Companyc) C&AG of India d) Shareholders e) None of above

15. The accounting standard related to cash flow statement is :

a)AS-4 b) AS-10 c)AS-3 d)AS-7 e) None of above

16. The AS-15 issued by ICAI is related to :

a)Accounting for Amalgamations b)Accounting for investmentc)Employee Benefits d)Borrowing Cost e) None of above

17. The rate of income tax on the long term capital gain earned on the sale of equityshares listed with stock exchanges during Assessment year 2008-09 is :

a)20% b)10% c)5% d)25% e) None of above

18. In CARO for internal audit purpose the amount of paid up share c apital and reservesexceeding . has been specified :


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4. Indias anti tank missile is :

a) Akashb) Nagc) Agnid) Prithvie) None of above

5. The currency of Indonesia is :a) Dollarb) Rapiahc) Lirad) Rupeee) None of above

6. Who won the Wimbledon mens singles in 2007?a) Rafal Nadalb) Mike Bryanc) Roger Federerd) Fabrice Santroe) None of above

7. Lumbini is a sac red place of thea) Muslimsb) Buddhistsc) Christiansd) Sikhse) None of above

8. Firing in J allin Wala Bagh was ordered bya) ODwyerb) Rowlattc) Curzon Wyllied) Lord Simone) None of above

9. The layer of atmosphere c lose to Earths surfac e is calleda) Exosphereb) Ionospherec) Stratosphered) Tropospheree) None of above


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10. Earth quakes are caused by

a) Earths rotationb) Denudationc) Tectonismd) Earth revolutione) None

11. Helsinki is the C apital ofa) Finlandb) Norwayc) Denmarkd) Swedene) None of above

12. Light year is related toa) Energyb) Distancec) Speedd) Intensitye) None of above

13. A.D. stands fora) After Christb) Anno Dominic) Aide-ded) None of above

14. The first General Elec tion were held in India ina)1951-52b) 1950-51

c)1949-d)1948-49e) None of above

15. When it is 5.30 p.m. in India, it is in Londona) 12.00 noonb) 5.00 a.m.c) 10.00 a.m.d) 11.00 p.m.e) None of above

16. The highest percentage in the atmosphere is of

a) Oxygenb) Nitrogenc) Carbon dioxided) Heliume) None of above

17. Who wrote J ungle Book?a) Mohd Salimb) Rudyard Kipling


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c) Sibhud) Rajender Prasade) None of above

18. 15thAugust is Independence day of India anda) South Koreab) Indonesiac) Chinad) Pakistane) None of above

19. When is the World AIDS Day observed all over the world?a) 1stOctoberb) 12thDecemberc) 1stDecemberd) 13thNovembere) None of above

20. The second women of India Origin to go into space after Kalpna Chawla is :a) Anita Williamsb) Sunita Williamsc) Anoushah Ansarid) Radhika Sharmae) None of above

PART III

Directions (Qs. 1 to 4): Answer these questions following the passage on the basis of whatis stated or implied in the passage:

Sir, as I have traveled round the Union I have found everywhere, as I expected, a deep

preoccupation with what is happening in the rest of the African continent. I understandand sympathise with your interest in these events, and your anxiety about them. Eversince the break-up of the Roman Empire one of the constant facts of political life inEurope has been the emergence of independent nations. They have come intoexistence over the centuries in different forms, with different kinds of government, but a llhave been inspired by a deep, keen feeling of nationalism, which has grown as thenations have grown.

In the twentieth century, and especially since the end of the war, the processes whichgave birth to the nation states of Europe have been repeated all over the world. Wehave seen the awakening of national consciousness in people who have for centurieslived in dependence upon some other power. Fifteen years ago this movement spreadthrough Asia. Many countries there of different races and civilizations pressed their claim

to an independent national life. Today the same thing is happening in Africa, and themost striking of all the impressions I have formed since I left London a month ago is of thestrength of this African national consciousness. In different places it takes different forms,but it is happening everywhere. The wind of change is blowing through this continent,and, whether we like it or not, this growth of national consciousness is a political fact. Wemust all ac cept it as a fact, and our national policies must take account of it..

1. As per the speaker, where did the national consciousness first emerge ?


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(a) Rome (b)Europe (c)Asia (d) Africa (e) None of above

2. The speaker believes(a) Africa c an be isolated from the worldwide emergence of national

consciousness(b) Africa is already witnessing the emergence of national consciousness

(c ) That the political system must get ready to oppress the emergence ofnational consciousness

(d) None of the above

3. The tone of this speech is

(a) Retaliatory (b) Explanatory (c) Conc iliatory (d) None of the above

4. A suitable title for the above passage would be

(a) Winds of change (b) Emergence of nationalism (c)Shaping of policies(d) None of the above

Directions (Qs. 5 to 9): For the following verbal analogies pick the pair that exhibits themost similar relationship to the given analogy.

5. Fire : Ashesa) Movie : Queuesb) Accident : Wreckagec) Surim : Wet c lothesd) Wood : Splinterse) None of above

6. Plaintiff : Defendanta) Court : Lawb) J udge : J uryc) Injured : Accusedd) Explosive : Volcanoe) None of above


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7. Winter : Snow

a) Summer : Heatb) Monsoon : Rainc) Autumn : Treesd) Field : Grasse) None of above

8. Government ; Exilea) Police : arrestb) J udge : Convictc) Constitution : Amendmentd) Church : excommunicatee) None of above

9. Tax ; exemptiona) Fine : Paymentb) Disease : immunityc) Trial : forfeite) Crime : punishmentf) None of above

Directions (Qs. 10 to 14) : Each question below consists of word(s), followed by four word.Choose the word that is most nearly same in meaning to the word in the question.

10. HUNKY DORY(a) Persuade (b) Forgo (c) Disagree (d) All right(e) None of above

11. RESCIND(a) Cancel (b) Enjoy (c )Praise

(d )Receive (e) None of above

12. C OLLATERAL(a) Pathetic (b) Tiresome (c) Guarantee(d) Magnanimous (e) None of above

13. Adept(a) Versatile (b) Skilful (c) Smart(d) Effortless (e) None

14. Limpid(a) Moist (b) dear (c) Drooping

(d) flimsy (e) None

Directions (Qs. 15 to 19): Each question below consist word, followed by four words. Chose theword that is most opposite in meaning to the word in the question.

15. SAGE(a) Miser (b) Fool (c) Traitor (d) Tyrant


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(e) None of above

16. ANIMATED(a) Penetrating (b) Modern (c) Dull (d) Similarity(e) None of above

17. ILLUSIVE(a) Not brilliant (b) Not coherent (c) Not deceptive (d)Not obvious(e) None of above

18. Proximate(a) Distant (b) Near (c) Non-Transferable (d)Insincere (e) None ofabove

19. Sycophancy(a) Frankness (b) Explain (c) Wicked (d) Covetous(e) None of above

Directions (Qs. 20 to 24): From the alternatives provided, choose the one that best fills theblanks

20. In her . she followed the .course of action(a) ignorance, wrong(b) agony, fury(c) bewilderment, appropriate(d) hurry, diversified(e) None of above

21. Sujatas ..in athletics reaped rich.. for she finallybagged a gold medal.

(a)performance, money (b)defeat, resources

(c)behaviour, result (d)excellence, dividends (e) None of above

22. Aarathi is hardly the young lady to do to her husband(a)credit (b)harm (c)damage (d)reputation (e) None of above

23. Tony enjoys the school boys playing in the playground(a)looking to (b)looking about (c)looking at (d) looking on(e) None of above


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30. Diamond cuts

a) ironb) silverc) goldd) diamond

e) None of above

PART-IV

1. Write short note on the following : ( 5 marks each)a) Working Capitalb) Debt Service Coverage ratioc) Cost of capitald) MAT

2. Answer the following questions : ( 8 Marks each)

a) Provisions of Listing agreement for publishing un-audited quarterly resultsb) Prior Period Adjustments and its treatment in accountsc) Audit Committee requirements for Indian Companies

3. What are the various methods that can be adopted by a company for evaluation of anew projec t. (8 Marks )

4. What are the provisions of Companies Act for preparation of ac counts of acompany. (8 Marks)

5. Differentiate between : (10 Marks Each)

a) Internal and Statutory auditb) Current tax and deferred taxc) Operating and Financial Leveraged) Funds flow and Cash flow statement

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