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

Question : The heads of two different departments at "Yamuna Ltd." are Aman and Ganga. They are effective managers who can inspire the staff in their particular departments to achieve better. The connection between the departments that Aman and Ganga are in charge of has been hampered by their desire to flourish in their individual fields rather than placing priority on the company's goals. There are frequently issues between departments, and they are now incompatible. This has shown to be detrimental to achieving organisational goals. The CEO of "Yamuna Ltd." has recruited Rahim as a consultant to help fix the situation because it has gotten so bad. After carefully examining the scenario, Rahim concluded that both Aman and Ganga's rigidity and limited viewpoint were to blame for the issue's emergence. She believes that the organisational structure that "Yamuna Ltd." has chosen is what has led to this issue. Determine the organisational structure that "Yamuna Ltd." has chosen based on the information given.

Option 1: Functional structure

Option 2: Divisional structure

Option 3: Formal Organisation Structure

Option 4: Informal Organisation Structure

Question :

In these questions some of the sentences have errors and some have none. Find out which part of a sentence has an error and indicate it corresponding to the appropriate option. If there is no error, indicate corresponding to the last option

I hope India's condition (1) may go from bad to worse (2)/ unless all necessary steps / are taken to counter poverty. (3)/ No error (4)

Option 1: I hope India's condition

Option 2: may go from bad to worse

Option 3: unless all necessary steps are taken to counter terrorism.

Option 4: No Error

Question : Comprehension:

In the following passage, some words have been deleted. Fill in the blanks with the help of the alternatives given. Select the most appropriate option for each blank.

The rain was coming down relentlessly. Even (1)______ a fast windscreen wiper, the road was (2)____ visible in the dark. Away from the noisy station we had just left, I (3)_____ the empty roads. Indeed, who would be walking (4)____ at such a late hour in the pouring rain? Shekhar was (5)____ steady driver as a rule, but we (6)____ both worried by now and he was already driving (7)______ fast. The road conditions were (8)____ from good. It was a bad ride, but we barely noticed it as we were so (9)______. The only thing I was worried about was finding my daughter, a young, (10)_______ girl alone on the streets at this hour.

Question:

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

Option 1: a

Option 2: the

Option 3: some

Option 4: little

Question : Murari and Vohra of Chandigarh were partners in a firm with capitals of Rs. 1,20,000 and Rs. 1,60,000 respectively. On 1.4.2018 they admitted their manager, Robin Gurung of Meghalaya, as a partner for one-fourth share in profits on his payment of Rs.2,00,000 as his capital and Rs. 90,000 for his one-fourth share of goodwill.

On that date the creditors of Murari and Vohra were Rs. 60,000 and Bank overdraft was Rs. 15,000. Their assets apart from cash included Stock Rs. 10,000; Debtors Rs.40,000;
Plant and Machinery Rs.80,000; Land and Building Rs.2,00,000. It was agreed that stock should be depreciated by Rs.2,000; Plant and Machinery by 20%, Rs. 5,000 should be written off as bad debts and Land and Building should be appreciated by 25%.
Question:
Value of cash will be

Option 1: Rs 25,000

Option 2: Rs 35,000

Option 3: Rs 10,000

Option 4: None of the above

Question : Identify the principal of management in the below case.
It has been seen from past 1 year that the relations between management and employees are becoming bad day by day. It was observe that employees was not given the increment and promotion for which they were being promised.
 

Option 1: Unity of direction
 

Option 2: Unity of command
 

Option 3: Discipline 
 

Option 4: Scaler chain
 

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.

Every now and then there are going to be bad days, tough days, mood swings and all things nasty that may put a (1) ______ on our happy days. At any given moment, however, we are the ones who can make a (2)______ between letting these things get in the way or pushing them right out by (3) ______ time in things or people (4) ______ make us happy. I've had this list of things that have made me happy for years now. I made it back to college to help me deal with some difficult times that I faced then. Even today, every now and then when things go (5) ______ I always go back to this, and one or more things listed here always light me up!

Question:

Select the most appropriate option to fill in the blank number 1.

Option 1: makeup

Option 2: smile

Option 3: marker

Option 4: damper

Question : Chain and Harsha were partners in a firm sharing profits in the ratio of 3: 2. On 1-4-2014 their Balance Sheet was as follows :

On the above date Vaishali was admitted for 1/4 th share in the profits of the firm on the following terms :
(a) Vaishali will bring Rs.20,000 for her capital and Rs.4,000 for her share of goodwill premium.
(b) All debtors were considered good.
(c) The market value of investments was Rs. 15,000.
(d) There was a liability of Rs.6,000 for workmen compensation.
(e) Capital accounts of Charu and Harsha are to be adjusted on the basis of Vaishali's capital by opening current accounts.
Question:
Amount distributed amongst the old partners In respect of workmen's compensation fund will be

Option 1: Crediting old partners capital Account with Rs 2,000 and Rs 1,000

Option 2: crediting the old partner's capital account with Rs 1,800 and Rs 1,200

Option 3: debiting old partner's capital account with Rs 1,800 and Rs 1,200

Option 4: None of the above