WRITTEN EXAMINATION FOR MANAGEMENT TRAINEE (ACCOUNTS) TIME ALLOWED : 3 HOURS INSTRUCTION FOR CANDIDATES: 1.

Answers are to be marked / written with ball pen/ink pen on the separate answer sheets provided for this purpose. Use of calculator and other electronic gazettes is not permitted. Question paper contains IV Parts, questions in Part-I to Part-III are objective type for which write the correct alternative from the options provided. Questions in Part-IV are descriptive. The questions in Part-I to Part-III carry 1 mark each and questions in Part-IV carry different marks as stated with each question. Candidates shall write the name, roll number and category only on provided fly leaf. Candidates should not write his/her name, roll number, signatures or make any other mark or indication showing, directly or indirectly, his/her identity on the question paper and answer sheets. Such an action will make his/her candidature liable to cancellation. Question paper and answer sheets should be returned to the invigilator at the end of examination. Candidates found adopting unfair means will be disqualified. MAXIMUM MARKS : 170

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PART I 1. According to Accounting Standard -6, depreciation is to be provided on the basis of a) Historical cost of the Assets b) Market price of the Assets c) Replacement cost of the Assets d) None of above 2. Sale of inventory for cash will cause the current ratio to a) Increase b) Decrease c) Remain unchanged d) None of above Issue of Share Capital in consideration to purchase of Plant & Machinery result a) b) c) d) Source of funds Application of funds No flow of funds None of above of the following option do not pose a burden on the finance of the Public deposit Debentures Loans from Financial Institutions Retained Earnings None of above

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4. Which Company a) b) c) d) e)

5. The limited review report by the auditors has to be provided within : a)One month from the end of quarter b)Two months from the end of the quarter c)One and half months from the end of the quarter d)Three months from the end of the quarter e) None of above 6.The effective income tax rate on the corporate dividend distribution at present is : a)16.5 b)16.995 c)11 d)11.30 e) None of above

7. The certificate for compliance of Corporate Governance requirements is issued under which clause of listing agreement : a)Clause-41 b) Clause-46 c)Clause-49 d)Clause-50 e) None of above

8.When an amount of Rs.10,00,000 as initial outflow in a project by company has resulted in an inflow of Rs.1,21,0000 after two years, what is the IRR of this project: a)21% b)10% c)10.50% d)9.5% e) None of above

9. Three copies of the accounts of the company are to be filed with the registrar of companies within from the date of their approval in the AGM : a)15 days b) 60 days c)45 days d)30 days e) None of above

10. How may zeros are there in a billion : (1)8 (2)9 (3)10 (4)11 (5)12

11. Fixed Deposit are shown in the Balance Sheet of a Company under the head:a)Secured Loan b)Unsecured Loan c)Current Liability d)Contingent Liability e) None of above 12. a) c) e) Record date declared by a company is basically for the purpose of Declaration of dividend b) Board of directors meeting Repayment of loan d) Appointment of Managing Director None of above

13. The accounts of a company has to be filed with the registrar of companies within 30 days from the date of : a) Its approval by Board of directors b)Submission of Auditors report c) Its approval in Annual General Meeting d) Signing of Accounts e) None of above 14. a) c) The report of the Statutory Auditors in a Government Company is addressed to : Board of Directors b) Chairman of Company C&AG of India d) Shareholders e) None of above

15. The accounting standard related to cash flow statement is : a)AS-4 b) AS-10 c)AS-3 d)AS-7 e) None of above

16. The AS-15 issued by ICAI is related to : a)Accounting for Amalgamations b)Accounting for investment c)Employee Benefits d)Borrowing Cost e) None of above 17. The rate of income tax on the long term capital gain earned on the sale of equity shares listed with stock exchanges during Assessment year 2008-09 is : a)20% b)10% c)5% d)25% e) None of above

18. In CARO for internal audit purpose the amount of paid up share capital and reserves exceeding . has been specified :

a)Rs.5 crore b)Rs.2 crore c)Rs.1 crore d)Rs.0.50 crore e) None of above 19. Under Companies Act, 1956 every public company having paid up share capital of not less than Rs.. crore shall constitute a committee of board called audit committee : a)Rs.10 crore b)Rs.7.50 crore c)Rs.5 crore d)Rs.2 crore (5) None of above

20. In case of a company the directors responsibility statement under Section 217 of the Companies Act, 1956 is to be stated in : a)Notes on Accounts b)Directors Report c)Memorandum and Articles of Association d)Corporate Governance Report e) none PART II 1. The currency of North Korea is : a. Yuan c. Yen e. None of above b. Won d. Kip

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The invention and discovery of dynamite is related to the name of : a. Alfred Nobel b. Faraday c. Edison d. Volta e. None of above The Union Minister of Commerce and Industry is a. P. Chidambaram b. Kamal Nath c. Sharad Pawar d. None of these e. None of above

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4. Indias anti tank missile is : a) Akash b) Nag c) Agni d) Prithvi e) None of above 5. The currency of Indonesia is : a) Dollar b) Rapiah c) Lira d) Rupee e) None of above

6. Who won the Wimbledon mens singles in 2007? a) Rafal Nadal b) Mike Bryan c) Roger Federer d) Fabrice Santro e) None of above 7. Lumbini is a sacred place of the a) Muslims b) Buddhists c) Christians d) Sikhs e) None of above 8. Firing in Jallin Wala Bagh was ordered by a) ODwyer b) Rowlatt c) Curzon Wyllie d) Lord Simon e) None of above 9. The layer of atmosphere close to Earths surface is called a) Exosphere b) Ionosphere c) Stratosphere d) Troposphere e) None of above

10. Earth quakes are caused by a) Earths rotation b) Denudation c) Tectonism d) Earth revolution e) None 11. Helsinki is the Capital of a) Finland b) Norway c) Denmark d) Sweden e) None of above 12. Light year is related to a) Energy b) Distance c) Speed d) Intensity e) None of above 13. A.D. stands for a) After Christ b) Anno Domini c) Aide-de d) None of above 14. The first General Election were held in India in a)1951-52 b) 1950-51 c)1949d)1948-49 e) None of above When it is 5.30 p.m. in India, it is in London a) 12.00 noon b) 5.00 a.m. c) 10.00 a.m. d) 11.00 p.m. e) None of above The highest percentage in the atmosphere is of a) Oxygen b) Nitrogen c) Carbon dioxide d) Helium e) None of above Who wrote Jungle Book? a) Mohd Salim b) Rudyard Kipling

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c) Sibhu d) Rajender Prasad e) None of above 18. 15th August is Independence day of India and a) South Korea b) Indonesia c) China d) Pakistan e) None of above When is the World AIDS Day observed all over the world? a) 1st October b) 12th December c) 1st December d) 13th November e) None of above The second women of India Origin to go into space after Kalpna Chawla is : a) Anita Williams b) Sunita Williams c) Anoushah Ansari d) Radhika Sharma e) None of above PART III Directions (Qs. 1 to 4): Answer these questions following the passage on the basis of what is stated or implied in the passage: Sir, as I have traveled round the Union I have found everywhere, as I expected, a deep preoccupation with what is happening in the rest of the African continent. I understand and sympathise with your interest in these events, and your anxiety about them. Ever since the break-up of the Roman Empire one of the constant facts of political life in Europe has been the emergence of independent nations. They have come into existence over the centuries in different forms, with different kinds of government, but all have been inspired by a deep, keen feeling of nationalism, which has grown as the nations have grown. In the twentieth century, and especially since the end of the war, the processes which gave birth to the nation states of Europe have been repeated all over the world. We have seen the awakening of national consciousness in people who have for centuries lived in dependence upon some other power. Fifteen years ago this movement spread through Asia. Many countries there of different races and civilizations pressed their claim to an independent national life. Today the same thing is happening in Africa, and the most striking of all the impressions I have formed since I left London a month ago is of the strength of this African national consciousness. In different places it takes different forms, but it is happening everywhere. The wind of change is blowing through this continent, and, whether we like it or not, this growth of national consciousness is a political fact. We must all accept it as a fact, and our national policies must take account of it.. 1. As per the speaker, where did the national consciousness first emerge ?

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(a) Rome

(b)Europe

(c)Asia

(d) Africa (e) None of above

2. The speaker believes (a) Africa can be isolated from the worldwide emergence of national consciousness (b) Africa is already witnessing the emergence of national consciousness (c ) That the political system must get ready to oppress the emergence of national consciousness (d) None of the above 3. The tone of this speech is (a) Retaliatory (b) Explanatory (c) Conciliatory (d) None of the above 4. A suitable title for the above passage would be

(a) Winds of change (b) Emergence of nationalism (c)Shaping of policies (d) None of the above Directions (Qs. 5 to 9): For the following verbal analogies pick the pair that exhibits the most similar relationship to the given analogy. 5. Fire : Ashes a) b) c) d) e) Movie : Queues Accident : Wreckage Surim : Wet clothes Wood : Splinters None of above

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Plaintiff : Defendant a) Court : Law b) Judge : Jury c) Injured : Accused d) Explosive : Volcano e) None of above

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Winter : Snow a) b) c) d) e)

Summer : Heat Monsoon : Rain Autumn : Trees Field : Grass None of above

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Government ; Exile a) Police : arrest b) Judge : Convict c) Constitution : Amendment d) Church : excommunicate e) None of above Tax ; exemption a) Fine : Payment b) Disease : immunity c) Trial : forfeit e) Crime : punishment f) None of above

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Directions (Qs. 10 to 14) : Each question below consists of word(s), followed by four word. Choose the word that is most nearly same in meaning to the word in the question. 10. HUNKY DORY (a) Persuade (e) None of above RESCIND (a) Cancel (d )Receive COLLATERAL (a) Pathetic (d) Magnanimous (b) Forgo (c) Disagree (d) All right

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(b) Enjoy (e) None of above (b) Tiresome (e) None of above

(c )Praise

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(c) Guarantee

13. Adept (a) Versatile (d) Effortless 14. Limpid (a) Moist (d) flimsy

(b) Skilful (e) None (b) dear (e) None

(c) Smart

(c) Drooping

Directions (Qs. 15 to 19): Each question below consist word, followed by four words. Chose the word that is most opposite in meaning to the word in the question. 15. SAGE (a) Miser (b) Fool (c) Traitor (d) Tyrant

(e) None of above 16. ANIMATED (a) Penetrating (e) None of above 17. ILLUSIVE (a) Not brilliant (e) None of above 18. Proximate (a) Distant above (b) Modern (c) Dull (d) Similarity

(b) Not coherent

(c) Not deceptive

(d)Not obvious

(b) Near

(c) Non-Transferable (d)Insincere

(e) None of

19. Sycophancy (a) Frankness (b) Explain (e) None of above

(c) Wicked

(d) Covetous

Directions (Qs. 20 to 24): From the alternatives provided, choose the one that best fills the blanks 20. (a) (b) (c) (d) (e) In her . she followed the .course of action ignorance, wrong agony, fury bewilderment, appropriate hurry, diversified None of above

21. Sujatas ..in athletics reaped rich.. for she finally bagged a gold medal. (a)performance, money (b)defeat, resources (c)behaviour, result (d)excellence, dividends (e) None of above 22. Aarathi is hardly the young lady to do to her husband (a)credit (b)harm (c)damage (d)reputation (e) None of above 23. Tony enjoys the school boys playing in the playground (a)looking to (b)looking about (c)looking at (d) looking on (e) None of above

24. To the dismay of all the students, the class monitor was _____ berated by the Principal at a school assembly. (a) critically (b) ignominiously (c) prudently (d) fortuitously (e) None of above (Q.25-27) Choose the word best expresses the meaning of the given idiom/phrase 25. Beat about the bush a) approach a subject slowly b) sincerely c) to be ignored d) make clear e) None of above At the eleventh hour a) in danger b) just in time c) straight forward d) before time e) None of above By hook or crook a) by fair means b) by fair or foul means c) for ever d) straight forward e) None of above

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(Q.28-30)Choose the word to complete the proverb 28. Half a loaf is better than no_____ a) meat b) water c) milk d) bread e) None of above

29. Example is better than. a) percept b) theory c) experience d) thesis e) None of above

30. Diamond cuts a) iron b) silver c) gold d) diamond e) None of above PART-IV 1. Write short note on the following : a) Working Capital b) Debt Service Coverage ratio c) Cost of capital d) MAT 2. Answer the following questions : a) b) c) ( 5 marks each)

( 8 Marks each)

Provisions of Listing agreement for publishing un-audited quarterly results Prior Period Adjustments and its treatment in accounts Audit Committee requirements for Indian Companies

3. What are the various methods that can be adopted by a company for evaluation of a new project. (8 Marks ) 4. What are the provisions of Companies Act for preparation of accounts of a company. (8 Marks) 5. Differentiate between a) b) c) d) : (10 Marks Each)

Internal and Statutory audit Current tax and deferred tax Operating and Financial Leverage Funds flow and Cash flow statement