Question : X, Y and Z are partners sharing profits in the ratio of 5: 3: 7. X retired from the firm. Y and Z decided to share future profits in the ratio of 2: 3. The adjusted Capital Accounts of Y and Z showed a balance of Rs. 49,500 and Rs. 1,05,750 respectively. The total amount to be paid to X is Rs .1,35,750. This amount is to be paid by Y and Z in a manner that their capital becomes proportionate to their new profit-sharing ratio. The amount to be brought or to be paid to partners will be

Option 1: Y bring Rs 66,000 and Z bring Rs 68,000

Option 2: Y bring Rs 66,900 and Z bring Rs 68,850

Option 3: Y withdrew Rs 66,900 and Z bring Rs 68,850

Option 4: Y bring Rs 66,900 and Z withdrew Rs 68,850

Question : The pension of a High Court Judge is charge on the

Option 1: Public accounts of India

Option 2: Consolidated Fund of the state

Option 3: Public accounts of the state

Option 4: Consolidated fund of India

Question : Which of the following funds accounts for flows for those transactions where the government is merely acting as a banker?

Option 1: Customs Fund

Option 2: Consolidated Fund

Option 3: Public Account Fund

Option 4: Contingency Fund

Question :  When interpreting travel accounts from the medieval period, it is important to consider:  

Option 1: The age of the traveler  

Option 2: The traveler's personal biases and perspectives 

Option 3: The color of the traveler's clothing

Option 4: The traveler's favorite foods

Question : Which of the following sentences is incorrect about the government budget?

Option 1: The government budget is a constitutional requirement in India.

Option 2: It is a statement of estimated receipts and expenditures of the government for the financial year.

Option 3: It comprises two accounts.

Option 4: It is a statement of receipts and expenditures incurred by the government.

Question : Comprehension:

Read the passage and answer the questions that follow.

The Roman Empire covered a vast stretch of territory that included most of Europe as we know it today and a large part of the Fertile Crescent and North Africa.
The Roman Empire embraced a wealth of local cultures and languages; women had a stronger legal position then than they do in many countries today; but also that much of the economy was run on slave labor, denying freedom to substantial numbers of persons. From the fifth century onwards, the empire fell apart in the west but remained intact and exceptionally prosperous in its eastern half.
Roman historians have a rich collection of sources to go on, which we can broadly divide into three groups: (a) texts, (b) documents and (c) material remains. Textual sources include letters, speeches, sermons, laws, and histories of the period written by contemporaries. These were usually called ‘Annals’ because the narrative was constructed on a year-by-year basis. Documentary sources include mainly inscriptions and papyri. Inscriptions were usually cut on stone, so a large number survived, in both Greek and Latin. The ‘papyrus’ was a reed-like plant that grew along the banks of the Nile in Egypt and was processed to produce sheets of writing material that was very widely used in everyday life. Thousands of contracts, accounts, letters, and official documents survive ‘on papyrus’ and have been published by scholars who are called ‘papyrologists’. Material remains include a very wide assortment of items that mainly archaeologists discover (for example, through excavation and field survey), for example, buildings, monuments and other kinds of structures, pottery, coins, mosaics, and even entire landscapes. Each of these sources can only tell us just so much about the past, and combining them can be a fruitful exercise, but how well this is done depends on the historian’s skill!

Question:

Documentary sources of the history of the Roman Empire include:

Option 1: inscriptions

Option 2: pottery

Option 3: sermons

Option 4: landscapes

Question : According to the data of 2011-12, Regular salaried employees accounts for __ of work force  in urban areas .
 

Option 1: 42%
 

Option 2: 15%
 

Option 3: 25%
 

Option 4: 35%
 

Question : Sharma, Verma and Goyal are partners in a firm. On 1st April 2012 the balances in their Capital Accounts were as follows:
Sharma Rs. 4,00,000; Verma Rs. 4,20,000 and Goyal Rs. 3,70,000. The firm closes its accounts every year on 31st March. Verma died on 30th September 2012. In the event of the death of any partner following are the provisions in the Partnership Deed:
(i) Interest on Capital will be calculated at the rate of 10% p.a.
(ii) The deceased partner; 's legal representative will be paid Rs. 35,000 for his share of goodwill.
(iii) The firm had a Reserve Fund of Rs. 2,10,000. The deceased partner will be paid his share in the Reserve Fund.
(iv) His share of profit till the date of death will be calculated based on sales. It is also specified that the sales during the year 2011-12 were Rs. 15,00,000. The sales from 1st April 2012 to 30th September 2012 were Rs. 3,00,000. The profit of the firm for the year ending 31st March 2012 was Rs. 3,00,000.
Question:
Amount Due to the deceased's partner's capital account will be ......

Option 1: Rs 3,66,000

Option 2: Rs 6,06,000

Option 3: Rs 5,66,000

Option 4: None of the above

Question : Show how will you deal with the following items in the final accounts of a club :Rs.

Sports Fund 15,000

Sports Fund Investments 30,000

Income from Sports Fund Investments 1500

Donations for Sports Fund 12,000

Sports Prizes awarded 7,000

Expenses on Sports events 4,000

Option 1: Liability side: Sports Fund Rs. 17,500; Assets side: Sports Fund Investments Rs. 30,000

Option 2: Liability side: Sports Fund Rs. 14,500; Assets side: Sports Fund Investments Rs. 30,000

Option 3: Liability side: Sports Fund Rs. 20,500; Assets side: Sports Fund Investments Rs. 30,000

Option 4: None of the above

Question : Comprehension:

Read the passage and answer the questions that follow.

The Roman Empire covered a vast stretch of territory that included most of Europe as we know it today and a large part of the Fertile Crescent and North Africa.
The Roman Empire embraced a wealth of local cultures and languages; women had a stronger legal position then than they do in many countries today; but also that much of the economy was run on slave labor, denying freedom to substantial numbers of persons. From the fifth century onwards, the empire fell apart in the west but remained intact and exceptionally prosperous in its eastern half.
Roman historians have a rich collection of sources to go on, which we can broadly divide into three groups: (a) texts, (b) documents and (c) material remains. Textual sources include letters, speeches, sermons, laws, and histories of the period written by contemporaries. These were usually called ‘Annals’ because the narrative was constructed on a year-by-year basis. Documentary sources include mainly inscriptions and papyri. Inscriptions were usually cut on stone, so a large number survived, in both Greek and Latin. The ‘papyrus’ was a reed-like plant that grew along the banks of the Nile in Egypt and was processed to produce sheets of writing material that was very widely used in everyday life. Thousands of contracts, accounts, letters, and official documents survive ‘on papyrus’ and have been published by scholars who are called ‘papyrologists’. Material remains include a very wide assortment of items that mainly archaeologists discover (for example, through excavation and field surveys), for example, buildings, monuments, and other kinds of structures, pottery, coins, mosaics, and even entire landscapes. Each of these sources can only tell us just so much about the past, and combining them can be a fruitful exercise, but how well this is done depends on the historian’s skill!

Question:

Much of the economy in the Roman empire was run on:

Option 1: slave labour

Option 2: scholars

Option 3: women

Option 4: archaeologists