ODISHA COMMERCE ASSOCIATION
COMMERCE TALENT SEARCH TEST
MODEL QUESTION PAPER
Rules and Guidelines:
• Each correct answer carries one mark (No negative marks for wrong answers)
• Mobiles or calculators are not allowed
• Write the correct answer key in the right hand box against the respective question number.
Name of Student: ___________________________________________________________
WhatsApp No.:___________________ E-mail Id: ________________________________
Name of College: ____________________________________________________________
Signature of Invigilator
Class: __________________ CTST Roll No.: 25CTST__ __ __ __ __
Name of Test Centre:___________________________________________________
1. ____ A/c is credited for receiving the money from the debtor previously written off as
bad.
(a)Bad Debt (b)Bad Debt Recovered 1
(c)Debtor (d)Cash
2. IFRS is prepared and issued by:
(a)IASB (b) ASB 2
(c)IFRSC (d) ACCA
3. The statement which is prepared to check the accuracy of accounting process is:
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(a) Balance Sheet (b) Trial Balance
(c)Statement of Profit & Loss (d) Bank Reconciliation Statement
4. Sales Book was overcast by Rs 1,000. In the trial balance, 4
(a)[Link] total exceeds by Rs.1,000 (b)[Link] total exceeds by Rs.1,000 (c)
[Link] total exceeds by Rs.2,000 (d)[Link] total exceeds by Rs.2,000
5. Total of invoices of the sales book is posted on the: 5
(a) Dr. side of Sales Account (b) Cr. side of Sales Account
(c) Dr. side of Cash Account (d) Cr. side of Capital Account
6. Long-term assets without any physical existence, but possessing a value are 6
called:
(a) Fixed assets (b) Intangible assets
(c) Investments (d) Non-current assets 7
7. Expenditure incurred to maintain the efficiency of fixed asset is:
(a)Capital expenditure (b) deferred revenue expenditure
(c) Revenue expenditure (d) none of these 8
8. Salaries paid during the year are Rs.2,50,000 and outstanding
salary are Rs.30,000. The amount shown in the Balance Sheet will be:
(a) Rs.2,50,000 (b) Rs.30,000 9
(c) Rs.2,80,000 (d) Rs.2,20,000
9. Oustanding subscription for a club is:
(a)Accrued liability (b)Prepaid expense 10
(c)Unearned revenue (d)Accrued asset
10. Depreciation is the process of allocation of _____over the useful life of non-current
tangible assets. Fill in the blank
(a)Book Value (b)Scrap Value
(c)Cost (d)Market Value
11. The balance in Error free Cash A/c may show
(a)Debit Balance (b)Credit Balance 11
(c)Debit or Credit Balance (d)Debit or Zero Balance
12. Payment of Rent of Rs,.25,000 was posted to credit side of Rent A/c as Rs.2,500. Due to
this error, the Suspense A/c will show: 12
(a) Credit Balance Rs.27,500 (b) Credit Balance Rs.22,500
(c) Debit Balance Rs.27,500 (d) Credit Balance Rs.27,500
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13. A partner withdrew @ Rs.4,000 p.m. at the end of each quarter. As per agreement interest
on drawings is chargeable @ 12% p.a. Find the interest on drawings for the year.
(a)480 (b)6,480 (c)1,440 (d)2,160 14
14. The capital employed is of Rs.30,00,000 in the firm; 10% is the normal rate of return and
average profit of the firm is Rs.4,50,000. The goodwill of the firm is:
(a)Nil (b) 10,00,000 (c) 15,00,000 (d) 12,00,000 15
15. According to which of the following principles Provision for Doubtful Debts is created?
(a) Cost (b)Accrual (c) Realisation (d)Conservatism
16. Prime Cost = Rs.30 crores and Cost of Sales = Rs.80 crores. Factory Overheads is 40% of 16
indirect costs. The amount of factory overheads is:
(a)Rs.20 crores (b)Rs.32 crores
(c)Rs.44 crores (d)Rs.12 crores 17
17. Maximum Stock Level = _____+______-(Minimum Consumption x Minimum Lead
Time). Fill in the blanks.
(a)Reorder level and Reorder quantity (b)Minimum Level and Reorder quantity 18
(c) Average Level and Reorder quantity (d) Minimum Level and Reorder Level
18. The Costs associated with labour turnover are:
(a)Preventive Cost and Retrenchment Cost (b) Preventive Cost and Replacement Cost
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(c)Employees Cost and Replacement Cost (d) Employees Cost and Preventive Cost
19. Primary Packing Materials Consumed are:
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(a)Direct Expenses (b)Selling Overhead
(c)Factory Overhead (d)Not part of Cost Sheet
20. Current Ratio is 1.8:1. If working capital is Rs.8 lakh, find the amount of current assets 21
(a)Rs.10 lakh (b)Rs.18 lakh
(c)Rs.8 lakh (d)Rs.26 lakh
21. If the price elasticity of demand for a product is greater than 1, the demand is considered: 22
(a) Elastic (b) Inelastic (c) Unit Elastic (d) Perfectly Elastic
22. When demand is perfectly inelastic, the demand curve is:
(a) Upward Sloping (b) Downward Sloping (c) Vertical (d) Horizontal 23
23. What does the law of supply state? (‘P’ for Price and ‘QS’ for Quantity Supply)
(a) As P rises, QS falls (b) As P rises, QS rises
(c) As P rises, No change in QS (d) No relation between P and QS 24
24. When Elasticity of Supply is zero then Supply is
(a)Perfectly Inelastic (b) Perfectly Elastic
(c) Unitary Elastic (d)Relatively Elastic 25
25. Market which have two firms are known as:
(a) Oligopoly (b) Duopoly (c) Monopsony (d) Oligopsony
26. MR of n th unit is given by : 26
(a) TRn /TRn-1 (b) TRn +TRn-1 (c) TRn – TRn-1 (d) All of these
27. Firms in a monopolistic market are price …………
(a) takers (b) givers (c) makers (d) acceptors 27
28. A firm will close down in the short period, if its AR is less than:
(a) AC (b) AVC (c) MC (d) AFC
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29. Demand for a firm's product when express as in percentage of an industry
demand it signifies the ____ of firm.
(a) Product share (b) Market share (c) Demand (d) Supply 29
30. An increase in Supply with unchanged demand leads to:
(a) Rise in price and fall in quantity (b) Fall in both price and quantity
(c) Rise in both price and quantity (d) Fall in price and rise in quantity 30
31. Cost of 200 units is Rs.3,000 and out of this 150 units were sold for Rs.2,700.
Find the % of profit/loss
(a)10%(Loss) (b)11.11%(Loss) (c)20%(Profit) (d)11.11% (profit)
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32. The MRP of a product is Rs.240 which is Rs.50 above cost. It is sold at a
discount of Rs.40. Find the profit. 32
(a) Rs.40 (b) Rs.50 (c) Rs.60 (d) Rs.80
33. 12%bonds of Rs.10,000 was bought for Rs.12,000. What is the half yearly 32
interest received by the investor? 33
(a) Rs.1,000 (b) Rs.1,440 (c) Rs.720 (d) Rs.600
34. The interest received at the end of 2nd year by the depositor on the deposit of
Rs.15,000 yielding 6% p.a. compounded annually is: 34
(a) Rs.1,800 (b) Rs.16,800 (c)Rs.16,854 (d)Rs.1,854
35. An endowment fund of Rs.6,00,000 @6% p.a. will yield yearly annuity of ___. 35
(a)Rs.6 crore (b)Rs.60 lakh (c)Rs.36,000 (d)Rs.3,600
36. Cartograms and pictograms are which type of diagrams?
(a)Bar (b)Pie- chart (c)Three-dimensional (d)One-dimensional 36
37. If Cov (X, Y) = 120, N= 10, SDX = 40 and SDY = 30, what is the value of ‘r’?
(a)0.1 (b)1 (c)0.01 (d)0.025
(d)It is highly affected by fluctuations in sampling 37
38. Two variable X and Y are related by Y = X+5 and each of them has 5
observations. If the mean of Y is 45, find the mean of Y. 38
(a)50 (b)5 (c)4 (d)15
39. The mean of 99 items is 100. The value of 100th item is 99 more than the mean
of 100 items. What is the value of 100th item? 39
(a)100 (b)99 (c)200 (d)250
40. The mean of 200 item was 50. Later it was discovered that two items wrongly
recorded as 92 and 8 instead of 192 and 108. Find the correct mean. 40
(a)60 (b)50.9 (c)59.8 (d)51
41. Which measure of central tendency is most suitable for open ended classes? 41
(a)Arithmetic Mean (b)Median (c)Mode (d)Harmonic Mean
42. A data distribution has the following data: Median =37.83, Mode= 32.35,
Mean = 40.57, then the data is ______. 42
(a)Positively skewed (b)Negatively skewed
(c)Symmetrical (d)None of these
43. Mean – Mode = _____ (Mean - Median) 43
(a)1/2 (b)3 (c)2 (d)3/2
44. Mean deviation is minimum when calculated from ___.
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(a)Mean (b)Median (c)Mode (d)Any of the three
45. Standard deviation is independent of ___.
(a) Origin (b) Scale (c)Both (d) Neither Scale nor Origin 45
46. Delegation of Authority is an element of:
(a)Planning (b)Organising (c)Staffing (d)Controlling 46
47. Who is regarded as the father of Scientific Management?
(a) F W Taylor (b) Max Weber (c) Elton Mayo (d) Henri Fayol
48. What is the maximum permissible number of partners in a banking partnership firm? 47
(a)10 (b)20 (c)50 (d)100
49. The risk among owners is lowest in case of
(a)Sole proprietorship (b)Partnership (c)Company (d)Joint Hindu Family 48
50. Controlling function is more closely connected with which of the following
functions:
(a)Staffing (b)Organising (c)Planning (d)Coordinating 49
51. The Contingency Approach to management suggests that:
(a) There is no one best way to manage
(b) Employees are motivated solely by money
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(c) Management practices are universally applicable
(d) Every situation requires strict adherence rules
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52. In management, what does "authority" refer to?
(a) The right to give orders and make decisions (b) The ability to perform tasks
(c) The willingness to take responsibility (d) The act of delegating tasks 52
53. Controlling involves all of the following, except:
(a) Measuring performance (b) Setting standards
(c) Motivating employees (d) Taking corrective action 53
54. The principle that advocates ‘One head and one plan’ is known as:
(a) Scalar chain (b) Principle of Order
(c) Unity of command (d)Unity of direction 54
55. The concept of 'span of control' refers to:
(a) The number of employees a manager can effectively supervise
(b) The total number of levels in an organization 55
(c) The extent of a manager's authority
(d) The budgetary limits of a department
56. Which company owns the popular online payment system "Paytm"? 56
(a)HDFC Bank (b) ICICI Bank (c)One97 Communication (d) Amazon
57. RTGS stands for
(a)Real Time Gross Settlement (b) Ready Time Gross Settlement 57
(c) Ready Time Gross Settlement d) Real Transfer Gross Settlement
58. Who is the Current Finance Minister of State of Odisha? 58
(a)Mr. Mohan Charan Majhi (b)Mrs. Pravati Parida
(c)Mr. Suresh Pujari (d)Mr. K V Singhdeo
59. PM SVANidhi Scheme is for 59
(a)Skill Development (b)Artisans (c) Street Vendors (d) Micro Enterprises
60. The Central Government Company which is working for skill developments
is: 60
(a)NSDC (b)NSE (b)DAKSH (d)UDEMY