Question : In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best express the same sentence in Indirect/Direct speech.

Jack said, "Oh! It's a bad weather. I can't swim."
 

Option 1:  Jack exclaimed with sorrow that it was a bad weather and he can't swim.
 

Option 2:  Jack exclaimed with sorrow that it was a bad weather and he was not to swim.
 

Option 3:  Jack exclaimed with sorrow that it was a bad weather and he couldn't swim.
 

Option 4: Jack exclaims with sorrow that it was a bad weather and he couldn't swim.

Question : Select the most appropriate meaning of the given idiom.
Between a rock and a hard place

Option 1: Stuck between two very bad options

Option 2: Willing to do anything

Option 3: On the point of achievement

Option 4: Avoiding the main topic, not speaking directly about the issue

Question : When some companies, in order to cover up their bad financial position resort to ----------- i.e., showing a better position than the one which really exists. They change their balance sheet in such a way that the important facts and truth may be concealed.

Option 1: Book keeping 

Option 2: Accounting 

Option 3: Accountancy 

Option 4: Window dressing 

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Ambition is a vital ingredient for success. Without ambition to push us, we will not be (1)_____of great achievements. We all need that special something (2)_____ourselves to give us the willpower to reach a higher goal (3)_____we imagine ourselves capable (4)_____Yet, ambition, (5)_____money and fire, is a good servant, but a bad master.

Select the most appropriate option to fill in the blank number 5.

Option 1: as

Option 2: like

Option 3: such

Option 4: similarly

Question : Which law of economics states, "Bad money drives out good money"?

Option 1: Baxter's Law

Option 2: Ohm's Law

Option 3: Gresham's Law

Option 4: Gauss's Law

Question : Select the most appropriate meaning of the given idiom.
On the ball.

Option 1: To be alert.

Option 2: Doing a bad job.

Option 3: Doing an average job.

Option 4: To be lazy.

Question : On dissolution of a firm, debtors Rs 34,000 were shown in the Balance Sheet. Out of this Rs 4000 became bad. One debtor became insolvent. 70% were recovered from him out of 10,000. The full amount was recovered from the balance debtors. On account of this item, the loss in realisation account will be:

Option 1: 5,100

Option 2: 7,000

Option 3: 3,500

Option 4: 2,000

Question : Comprehension:

Read the following passage and answer the questions.

All foodstuffs change. Green fruits become ripe and eggs go bad or rotten. It is the enzymes naturally present in each food which bring about the complex chemical changes that lead first to ripening and then to rotting.

How does one control the activity of enzymes, bacteria, yeasts and moulds in food? All of them require air, moisture and a certain temperature, usually somewhere near the body temperature, to be active. Depriving them of one or more of these will suppress them. All microorganisms can be killed by heat sterilisation. This simply means heating the food to high enough temperatures by boiling, deep or shallow frying, roasting, baking and, for milk particularly, pasteurisation. After such sterilisation, if the food is sealed in airtight containers, it can be kept for a long time. A certain water content in food is necessary for microorganisms to be active. Drying in the sun is a simple way of bringing down the moisture level so low that the enzymes and microorganisms cannot flourish.

Some chemicals can suppress undesirable activity. The addition of salt, vinegar, spices and oil or sugar syrup are other ways of preventing foods from going bad. If heating kills, freezing inactivates the enzymes and microorganisms. This is what happens in a refrigerator, in which fruits, vegetables and milk can be kept for fairly long periods. For meat and fish, even colder temperatures, below freezing point, are necessary for preservation. All foods which are kept cold in this way, once taken out and returned to room temperature, are again subject to spoilage and change.

Question:
Boiling, frying, roasting and baking are methods of:

Option 1: sterilisation

Option 2: spoilage

Option 3: pasteurisation

Option 4: refrigeration

Question : Which of the following statements are correct with respect of the debt collection period?

Option 1: Increase in average collection period indicates the excessive blockage of funds with trade receivables which increases the chances of bad debts.

Option 2: A higher average collection period is thus, an indication of the inefficiency and negligency on the part of management.

Option 3: if there is decrease in average collection period, it indicates prompt payment by trade receivables which reduces the chances of bad debts.

Option 4: All of the above

Question : A and B are partners in a firm. Their balance sheet as at 31 st March, 2018 was as follows:

C was taken into partnership as from 1st April, 2018. C brought Rs.40,000 as his capital but he is unable to bring any amount for goodwill. New profit sharing ratio is 3: 2: 1. Following terms were agreed upon :
1. Claim on account of Workmen's Compensation is Rs.3,000.
2. To write off Bad Debts amounting to Rs.6,000.
3. Creditors are to be paid Rs.2,000 more.
4. Rs.2,000 be provided for an unforeseen liability.
5. Outstanding expenses be brought down to Rs. 1,200.
6. Goodwill is valued at $1 \frac{1}{2}$ year's purchase of the average profits of last three years. Profits of 3 years amounted to Rs.8,000; Rs. 10,000 and Rs. 18,000 .
Question:
Revaluation account debited and credited with Rs
 

Option 1: Debiting Rs 4,200

Option 2: Crediting Rs 4,200

Option 3: No profit and no loss

Option 4: None of the above