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:
Total assets side of new firm balance sheet is

Option 1: Rs 6,55,000

Option 2: Rs 6,57,000

Option 3: Rs 6,60,000

Option 4: Rs 6,00,000

Question : Find the part of the given sentence that has an error in it. If there is no error, choose 'No Error'.

David said that statistics are his favourite subject.

Option 1: David said that

Option 2: favourite subject

Option 3: No Error

Option 4: statistics are his

Question : Comprehension:

Read the following passage and answer the questions.

On a cold, wintry Christmas day in 1998, the ice and snow were beating down upon the windows of the vehicles as we travelled to an obscure orphanage in Bosnia and Herzegovina. We battled unstable hills blanketed with two feet of snow. The narrow road forced us to drive perilously close to the edge. This would be my first Christmas away from home and family. I could imagine my wife and my two little daughters opening their gifts on Christmas day. Today, I was going to learn for the first time how it would be to spend Christmas day with other children.

Enemy activity had devastated the villages. I had heard stories and seen pictures of this particular village where we were headed. What I did not know was that it would be a camp full of destitute families and children. As we entered the village, the children lined the roads on both sides and cheered. They ran to us in excitement as we climbed out of our vehicles. Within moments, I saw my soldiers passing out sweets and chocolates and talking with the children. The adults, who were not sure if we could be trusted, kept their distance. But soon, they too were won over by my men. The soldiers unloaded 87 boxes of toys, clothes, shoes, school supplies, and candy. We were soon surrounded by the people of the village, who shook our hands and smiled shyly in thanks for our gifts and our presence.

After the two hour visit, as we rose to leave, the camp leader said to us, "Please come again, even if you have nothing to give. We enjoyed having you here." We had loved every moment we had been there. This year, we truly learned the Christmas spirit of loving and giving!

Question:

Why did the villagers want the soldiers to come back again?

Option 1: They wanted clothes and other stuff.

Option 2: They were afraid of the enemies.

Option 3: They enjoyed the soldiers’ company.

Option 4: The children appeared more cheerful.

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.

It is said that everyone lives (1) _________selling something. What you can (2) ____________from this statement is that teachers live by selling knowledge, philosophers live by selling wisdom and priests earn their living by selling spiritual comfort. Though it may be possible to measure the value of material goods in terms of money, it is extremely difficult to (3) ___________the true value of the services which people perform for us. There are times when we would (4) ____________give everything we possess to save our lives, yet we might grudge paying a surgeon a high fee for offering us precisely the same service. The (5) ___________of society are such that skills have to be paid for in the same way that goods are paid for at a shop.

Question:
Select the most appropriate option to fill in the blank number 3.

Option 1: extort

Option 2: mock

Option 3: conceal

Option 4: estimate

Question : Case Study 10:

PQR Ltd. is an established company planning to expand its global operations through strategic alliances.

Question : 

To fund its strategic alliance efforts, PQR Ltd. is evaluating short-term financing options. Which money market instrument might it use?

Option 1: Commercial paper
 

Option 2: Equity share
 

Option 3: Call money

Option 4: Corporate bond

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.

During the pandemic, remote working has kept the work going, across _____ (1) Almost every industry got shut down physically during the lockdowns, but the work-from-home model tried to ______ (2) the effect of the lockdown when it came to jobs. In the future also, many businesses across the globe, including the information technology industry, are _______ (3) continuing with the hybrid model. Remote working has replaced geography as a major hiring ________ (4), with 90 per cent of senior executives expected to work from home. As a result, 76 per cent of US organisations are more likely to _______ (5) outside the city or even state, according to a Talent Works poll of recruiting managers conducted across the US, quoted by an FE report.

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

Option 1: implement

Option 2: deploy

Option 3: execute

Option 4: employ

Question : Fill in the blanks with appropriate words.

Music has great qualities of healing a person emotionally and mentally. Music is a form of  meditation. While composing or listening to music, one tends to forget all his worries, sorrows, and pains. But, in order to (1)_____ good music, we need to cultivate our musical taste. It can be cited that in the Dwapar Yug, the Gopis would get. (2) ____with the music that flowed from Lord Krishna's flute. They would. (3)____  themselves to HIm. Also, the research has proved that the plants which listen to music grow at a faster rate in (4) ____ to the others.

Question:
Select the most appropriate option to fill in blank No. 4.

Option 1: Exceptional
 

Option 2: Exhaust
 

Option 3: Comparison
 

Option 4: Gigantic

Question : P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed years (books of accounts are closed on 31st March).
R died on 1st April, 2018. The firm's profits for the last 4 years were as follows: 2015
(Profits Rs. 1,20,000); 2016 (Profits Rs.60,000); 2017 (Losses Rs.20,000) and 2018 (Profits Rs. 80,000).
The amount that should be credited to R in respect of his share of goodwill will be

Option 1: Rs 45,000

Option 2: Rs 90,000

Option 3: Rs 40,000

Option 4: None of the above.