(Instructions : From question numbers 33 to 36, attempt any 3 questions.).
Question 33
How many shares were offered to the public for subscription?
- 12,00,000
- 24,00,000
- 14,00,000
- 30,00,000
Question 34
What was the amount of money received on allotment ?
- ₹60,00,000
- ₹12,00,000
- ₹6,00,00,000
- ₹48,00,000
Question 35
The profit sharing ratio of A, B and C was :
- 9 : 20 : 7
- 8 : 21 : 7
- 10 : 19 : 7
- 7 : 22 : 7
Question 36
The profit sharing ratio of A, B, C and D was
- 45 : 105 : 30 : 36
- 45 : 100 : 35 : 36
- 45 : 105 : 30 : 36
- 40 : 100 : 40 : 36
Part - II
Section - A
(Attempt any 4 questions from question number 37 to 42).
Question 37
The ratios that analyse profits in relation to revenue from operations or funds employed in the business are called
- Profitability Ratios
- Turnover Ratios
- Turnover Ratios
- Liquidity Ratios
Question 38
Because of exclusion of non-liquid current assets which of the following ratio is considered better than current ratio as a measure of liquidity position of the business?
- Debt – Equity Ratio
- Acid Test Ratio
- Proprietary Ratio
- Interest Coverage Ratio
Question 39
Which of the following ratio establishes relationship of ‘Shareholders funds’ to ‘Net assets’?
- Return on Investment
- Interest Coverage Ratio
- Proprietary Ratio
- Debt–Equity Ratio
Question 40
Which of the following ratio establishes the relationship between ‘Credit revenue from operations’ and ‘Trade receivables’?
- Inventory Turnover Ratio
- Interest Coverage Ratio
- Trade Payables Turnover Ratio
- Trade Receivables Turnover Ratio
Question 41
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) :
Assertion (A) : Profitability ratios are calculated to analyse the earning capacity of the business.
Reason (R) : Profitability ratios are calculated to determine the ability of the business to service its debt in the long run.
In the light of the above two statements which of the following is correct:
- Both (A) and (R) are correct
- Both (A) and (R) are wrong.
- (A) is correct but (R) is wrong
- (A) is wrong but (R) is correct.
Question 42

- (i) – (e), (ii) – (d), (iii) – (c), (iv) – (b), (v) – (a)
- (i) – (a), (ii) – (b), (iii) – (c), (iv) – (d), (v) – (e)
- (i) – (b), (ii) – (c), (iii) – (a), (iv) – (d), (v) – (e)
- (i) – (a), (ii) – (b), (iii) – (e), (iv) – (d), (v) – (c).
Part - II
Section - B
(Attempt any 5 questions from question number 43 to 48. ).
Question 43
Current ratio of a company is 3 : 1. The value of its current liabilities is ₹4,00,000. Its current assets will be:
- ₹3,00,000
- ₹12,00,000
- ₹2,00,000
- ₹9,00,000
Question 44
Gross Profit Ratio or a Company is 25%. Cost of revenue from operations are of revenue from operations. If revenue from operations is ₹6,00,000, the Gross Profit of the Company will be :
- ₹25,00,000
- ₹45,00,000
- ₹15,00,000
- ₹11,25,000
Question 45
Following information has been obtained from the statement of Profit and Loss of a Company: Revenue from Operations – ₹20,00,000, cost of materials consumed – ₹8,00,000, Employees benefit expenses – ₹20,000, Finance cost – ₹5,000, Depreciation – ₹25,000. Its Profit before tax will be :
- ₹12,00,000
- ₹11,80,000
- ₹11,75,000
- ₹11,50,000
Question 46
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):
Assertion (A) : 'Sale of goods for cash' does not effect Debt-Equity ratio.
Reason (R) : 'Sale of goods on cash basis' neither affect 'Debt' nor 'Equity'
In the context of the above two statements which of the following is correct:
- Both (A) and (R) are correct and (R) is the correct reason of (A).
- Only (A) is correct
- Only (R) is correct.
- Both (A) and (R) are incorrect.
Question 47
Following are two statements, one labelled as Assertion (A) and the other labelled Reason (R):
Assertion (A) : Operating ratio is = 100 – operating profit ratio.
Reason (R) : Operating ratio is computed to reveal the operating margin on products sold.
In the context of the above two statements which of the following is correct:
- Both statements are incorrect.
- (A) is correct but (R) is incorrect.
- (A) is incorrect but (R) is correct.
- Both (A) and (R) are correct and (R) is the correct reason of (A).
Question 48
During the year ended 31.3.202 1, Soma Ltd. earned net profit after tax ₹6,00,000. The company has a long term 10% debt of ₹50,00,000. The tax rate is 40%. The interest coverage ratio of the company will be
- 2 times
- 3 times
- 1.2 times
- 1.5 times
Part - III
Section - A
(Instruction : From question number 49 to 54 attempt any 4 questions. ).
Question 49
"Hardware, software and data are some of the components of computerised accounting system." Identify the missing component from the statement:
- Procedure and people
- Timely access
- Network
- Raw facts
Question 50
Which of the following is not a feature of computerised accounting system:
- Transparency and control
- Data are prone to hacking
- Scalability
- Reliability
Question 51
A sequential code is the one which:
- range of numbers is partitioned into desired number of sub-ranges.
- consists of alphabets or abbreviations as symbols to codify a piece of information.
- enables identification of missing documents.
- sub-ranges are allotted to specific groups.
Question 52
Method of codification should be:
- An identification mark.
- Easy to understand, cryptic and leads to grouping of accounts.
- Explains a group of information.
- Such that it leads to grouping of accounts.
Question 53
Which type of software package is suitable for an organisation where the volume of accounting transactions is very low and adaptability is very high:
- Specific
- Generic
- Tailored
- (a) and (c) both
Question 54
Which of the following is not a limitation of computerised accounting system:
- Data may be lost or corrupted due to power interruptions.
- Faster obsolescence forces investment for shorter time.
- Data is not made available to everybody.
- Unprogrammed and un-specified reports cannot be generated.
Part - III
Section - B
(Instruction : From question number 55 to 60 attempt any 5 questions).
Question 55
Which of the following is not contained on formula tab on Excel ribbon:
- Page layout
- Function library
- Defined names
- Calculations
Question 56
Identify from the following what will be displayed on the screen when numeric value in the formula or function is invalid while working on excel:
- Correct a # REF! Error
- Correct a # NUM! Error
- Correct a # DIV/0! Error
- Correct a # N/A Error
Question 57
As you type a number in a cell, what mode appears in the status bar:
- Ready mode
- Edit mode
- Enter mode
- Record mode
Question 58
Which of the following is not included in calculation of 'Earning' while preparing payroll for current period?
- Basic pay
- Transport allowance
- Medical allowance
- Provident fund
Question 59
What is the outcome of an arithmetic expression or function called?
- Basic Value
- Derived Value
- Vertical Vector
- Horizontal Vector
Question 60
How is Navigation conducted from first to last filled cells of clusters when moving one cell at a time in a 'Row'?
- Home + Right arrow ()
- End + Right arrow ()
- CTRL + Right arrow () successively
- CTRL + END