Thursday, 22 September 2016

Chief General Manager Exam 27-01-2015 Category Code: 296/2011 - Part 10

91.       The term ‘credit’ derived from the Latin word
(A) Credre                     (B) Creditum
(C) Creditmn                 (D) Croditum
Answer: A
92.       Mr.A, Mr.B are partners. Their old profit sharing ratio was 3:1. Mr. A surrendered 1/32 of his share and Mr. B surrendered 3/32 of his share in favor of Mr.C. Calculate Sacrificing ratio of A & B.
(A) 3/128:3/128                        (B) 93/128:29/128
(C) 3/128:5/128            (D) 5/128:3/128
Answer: A
93.       As per section 128 of the Companies Act, managerial remuneration is
(A) 11 % of Net Profit
(B) 5 % of Net Profit
(C) 10% of Net Profit
(D) 4 % of Net Profit
Answer: A
94.       Green Limited had total purchases of Rs. 80,000 during the year. The opening and closing balance of creditors were Rs.20,000 and 30,000 respectively. Payments made to creditors during the year were Rs 60,000. Discount received was Rs 2,000. The credit purchases during the year …………..
(A) 82,000         (B) 72,000
(C) 86,200         (D) 86,400
Answer: B
95.       The RBI appointed a committee under the chairmanship of K.B Chore in April …………. to review the working of cash credit system.
(A) 1981                        (B) 1979
(C) 1982                        (D) 1974
Answer: B

96.       Irrelevance theory of capital structure, assumptions does not include
(A) No corporate tax
(B) Cost of debt is constant
(C) Cost of debt is lower than cost of equity
(D) None of these
Answer: D
97.       A company expects a net income of Rs 80,000. It has Rs 2,00,000 debentures of 8% rate of interest. The equity capitalization rate of the company is 10 %. Compute overall capitalization rate according to Net Income Approach, ignoring income tax.
(A) 9 %               (B) 8.3%
(C) 8.52%          (D) 9.52%
Answer: D
98.       A ‘Yen note’ floated in Germany is an example of
(A) Euro bond                          (B) Yen bond
(C) Floating rate yen bond     (D) Euro commercial paper
Answer: A
99.       Research and Development expenditure is an example of
(A) Capital expenditure                      (B) Revenue expenditure
(C) Deferred revenue expenditure   (D) None of these
Answer: C
100.    Section …………. for buy back of shares as per Companies Act 1956
(A) 78                 (B) 79
(C) 77                 (D) 81
Answer: C


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