PGT Commerce Level-3 (HTEТ), Exam 2016

Total Questions: 150

131. Which of the following does not characterize business activity?

Correct Answer: D. Salary or wages

132. On receiving the returned goods from the buyer, the seller sends:

Correct Answer: D. Credit note

133. When preparing a bank reconciliation statement, if you start with an overdraft as per passbook, then "cheques deposited but not yet cleared" are:

Correct Answer: B. Deducted

134. 'Contingency Approach' to leadership was given by:

Correct Answer: A. Fiedler

135. Which of the following is not a principle of management given by Taylor?

Correct Answer: C. Maximum not restricted output

136. Which of the following items is not shown under the heading 'Reserves and Surplus'?

Correct Answer: B. Provision for the bad debts

137. When a firm maintains a cash book, it need not maintain:

Correct Answer: D. Bank and cash account in the ledger

138. Which of the following statements does not clearly distinguish between entrepreneurship and management?

Correct Answer: D. Entrepreneurship is once for all activity; management is continuous activity

139. The term opportunity cost refers to:

Correct Answer: C. The cost foregone in favour of production of another product

140. X Co. Ltd. purchased assets worth ₹ 25,80,000. It issued debentures of ₹ 100 each at a discount of four per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is:

Correct Answer: A. 30,000