MANAGEMENT APTITUDE

TEST
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

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 MANAGEMENT APTITUDE
TEST
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
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 WHAT IS THE AMOUNT PAYABLE BY THE
INSURANCE COMPANY?
• On 30th June 2007, due to fire a major part bf the stOcks was destroyed in
• the godown of GOTI. Stocks costing Rs. 60,000 could be salvaged but
• not the stores ledgers. A fire insurance policy was in force under which the
• sum insured was Rs. 7, 00,000.
• From the available records, the following information was retrieved:
• (i) Total sales during the period from April 2007 to June 2007 amounted to
Rs. 60,40,000. An analysis showed that goods of the value of Rs.
6,00,000 had been returned by the customers before the date of fire.
• Opening stock on 1 April 2007 was Rs. 4, 40,000 (iii) Purchases during the
period from 1” April 2007 to 30th June 2007 were Rs. . 42,00,000.
• (iv) Normal gross profit rate was 33-1/3% on sales.
• (v) A sum of Rs. 60 incurred by way of fire fighting expenses on the day of
th

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 Which type of error occurs when
credit sales is wrongly posted to
Purchase Day Book:
• (a) Error of omission
• ‘ Error of commission
• (c) Compensatory error
• (d) Error of principle
• Solution :
• Error of commission
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 Window dressing of Accounts
means:
• (a) Presenting accounts in beautiful
manner
• (b) Showing more losses to avoid Income
tax ,
• (c) Showing more profits to attract
Investment
• (d) All of the above
• Answer ©
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• Suspense Account is a:
• (a) Nominal A/c
• (b) Real A/c
• (c) Personal A/c
• (d) Any of the above
• Solution
• (d)

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Goti sent out goods costing Rs. 45,000 toY
at cost + 33 1/3 . 1/10th goods were lost in
transit. 1/2 of the goods are sold at 20%
above IP. The amount of sale value will be

• (a) Rs.54,000 .
• (b) Rs. 43,200
• (c) Rs. 60,000
• (d) Rs. 36,000
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 Solution
• 45000 + 15000 = 60000
• Now take : ½ of this : 30000
• Add 20%
• 36000 answer.

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 The credit balance of Rs. 2,000 in the bank
column of the cash book was carried forwarded
as its debit balance. When overdraft as per book
is starting point:

• (a) Rs. 2,000 will be deducted

• (b) Rs. 2,000 will be added (c) Rs. 4,000 will be
deducted
• (d) Rs. 4,000 will be added
• Solution:
• Since we are already showing Rs. 2000 as our
deposits with bank, now the bank will demand
Rs 4000 more as per our book.

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• (i) Purchased goods from Mohan for As. 30,000
but entered in sales book.
• Purchase A/c dr. 30000, sales A.c dr 30000 to
mohal 60000
• (ii) Received one bill for Rs 50,000 from Arjun
but recorded in the bill payable book.
• BP A/c dr. B R A/c dr. 50000 to Arjun 100000
• (iii) An item of Rs. 7,009 relating to prepaid rent
account was omitted to be brought forward
Prepaid Rent Ac Dr. To suspense a/c cr.
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• An item of .Rs. 4,000. in respect of purchases
return had been wrongly entered in the purchase
book.
• Suspense A/c dr. 8000 to purchase 4000 to
purchase return 4000
• Rs. 50,000 paid to Mani against our acceptance
were debited to Manish’s account.
• Mani A.c dr. 50000 to manish Ac. Credit 50000

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• Bills received from Janak for repairs done
to air conditioners Rs. 5,000 and air
conditioners supplied for Rs. 90,000 were
entered in the purchase book as 92,000.
• Air conditioner A/c Dr. 90000
• Repairs A/c dr 5000
• To Purchase A/c cr. 95000

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 underlying accounting principle
necessitating amortization of
Intangible Assets is/are
• (a) Cost Concept
• (b) Realization Concept
• .(c) Matching Concept.
• SOLUTION :
• We try to match revenues to expenses for
the period and therefore we try to amortise
the expenses and make them match with
revenues.
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 Holding gains in relation to stocks should not
be used for payment of dividend.” Which one of
the following accounting principle is involved in
this?

• (a) Consistency
(b) Cost
• (c) Materiality ,(d) Realization
• Solution: the prices of stocks keep changing therefore until we realise
the profit, we cannot give them as dividends.so answer is (d)

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 Why such a programme?
• To promote people to take up entrepreneurship
and help develop the society
• To enable people to take up franchising and
other such options to start a business / social
development project
• To enable people to take up social development
as their mission
• To enable people to promote spirituality and
positive thinking in the world

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 Who are our supporters?
• Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
• You can also support us – not necessarily
by money – but by being promotor of our
concept and our ideas.

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 About AFTERSCHO☺OL PGPSE – the
best programme for developing great
entrepreneurs
• Most flexible, adaptive but rigorous programme
• Available in distance learning mode
• Case study focused- latest cases
• Industry oriented practical curriculum
• Designed to make you entrepreneurs – not just
an employee
• Option to take up part time job – so earn while
you learn
• The only absolutely free course on internet
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 Workshops from
AFTERSCHO☺OL
• IIF, Delhi
• CIPS, Jaipur
• ICSI Hyderabad Branch
• Gyan Vihar, Jaipur
• Apex Institute of Management, Jaipur
• Aravali Institute of Management, Jodhpur
• Xavier Institute of Management, Bhubaneshwar
• Pacific Institute, Udaipur
• Engineering College, Hyderabad

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 Flexible Specialisations:
• Spiritualising business and society
• Rural development and transformation
• HRD and Education, Social Development
• NGO and voluntary work
• Investment analysis,microfinance and inclusion
• Retail sector, BPO, KPO
• Accounting & Information system (with CA / CS /CMA)
• Hospital management and Health care
• Hospitality sector and culture and heritage
• Other sectors of high growth, high technology and social
relevance

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 Salient features:
• The only programme of its kind (in the whole world)
• No publicity and low profile course
• For those who want to achieve success in life – not just a
degree
• Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend
classes
• Scholarships for those from poor economic background
• Latest and constantly changing curriculum – keeping pace
with the time
• Placement for those who are interested
• Admissions open throughout the year
• Latest and most advanced technologies, books and study
material

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 Components
• Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
• Meditation, spiritualisation, and self development
• EsGotitial softwares for business
• Business plan, Research projects
• Participation in conferences / seminars
• Workshops on leadership, team building etc.
• Written submissions of research projects/articles / papers
• Interview of entrepreneurs, writing biographies of entrepreneurs
• Editing of journals / newsletters
• Consultancy / research projects
• Assignments, communication skill workshops
• Participation in conferences and seminars
• Group discussions, mock interviews, self development diaryng
• Mind Power Training & writing workshop (by Dr. T.K.Jain)

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 Pedagogy
• Case analysis,
• Articles from Harvard Business Review
• Quiz, seminars, workshops, games,
• Visits to entrepreneurs and industrial visits
• PreGotitations, Latest audio-visuals
• Group discussions and group projects
• Periodic self assessment
• Mentoring and counselling
• Study exchange programme (with institutions out of
India)
• Rural development / Social welfare projects
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 Branches
• AFTERSCHO☺OL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these branches
– and for promoting social entrepreneurs.

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 Case Studies
• We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us to
be in touch with entrepreneurs, so that we
may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL
• Share to learn more
• Interact to develop yourself
• Fear is your worst enemy
• Make mistakes to learn
• Study & discuss in a group
• Criticism is the healthy route to mutual support
and help
• Ask fundamental questions : why, when, how &
where?
• Embrace change – and compete with yourself
only
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 www.afterschoool.tk
social entrepreneurship for better
society

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