Question : Rohan and Mohan are two friends belonging middle class family. On 1st April, 2020 they started a business of Tyre manufacturing in the form of a partnership firm without any agreement and contribute Rs.4,00,000 and Rs.2,00.000 respectively as Capital. They know that the factory of Tyre manufacturing pollutes the environment. Therefore, there are two options available before them: (i) The factory can be opened in rural area where local residents are poor and illiterate. (ii) An advanced pollution control plant can be installed in their factory to control the pollution. They decided to choose the second option which involves an additional cost of Rs.4,00,000. On 1st July 2020 to arrange this amount, the firm took a loan of Rs.3,00,000 from ICICI Bank carrying interest @ 12% p.a. and rest Rs.1,00,000 was provided by Rohan as a loan to the firm without any agreement. During the year Rohan withdrew Rs.4,000 at the end of each quarter and Mohan withdrew Rs.12,000. Interest on drawings to be charged @ 6% p.a. At the end of first year the firm earns a net profit of Rs.1,50,000.
Interest on Rohan's loan will be:

Option 1: NIL

Option 2: Rs.12,000

Option 3: Rs.4,500

Option 4: Rs.9,000

Question : Rohan and Mohan are two friends belonging middle-class family. On 1st April, 2020 they started a business of Tyre manufacturing in the form of a partnership firm without any agreement and contributed Rs.4,00,000 and Rs.2,00.000 respectively as Capital. They know that the factory of Tyre manufacturing pollutes the environment. Therefore, there are two options available before them: (i) The factory can be opened in rural area where local residents are poor and illiterate. (ii) An advanced pollution control plant can be installed in their factory to control the pollution. They decided to choose the second option which involves an additional cost of Rs.4,00,000. On 1st July 2020 to arrange this amount, the firm took a loan of Rs.3,00,000 from ICICI Bank carrying interest @ 12% p.a. and rest Rs.1,00,000 was provided by Rohan as a loan to the firm without any agreement. During the year Rohan withdrew Rs.4,000 at the end of each quarter and Mohan withdrew Rs.12,000. Interest on drawings to be charged @ 6% p.a. At the end of first year the firm earns a net profit of Rs.1,50,000.
Drawings of Rohan will be shown on:

Option 1: Debit side of the Profit and Loss Appropriation A/c

Option 2: Debit side of the Rohan's capital A/c

Option 3: Credit side of the Profit and Loss Appropriation A/c

Option 4: Credit side of the Rohan's capital A/c

Question : Rahul decided to start a cricket academy to train the young enthusiastic players of down south. With the support and guidance of his family he started the Star cricket academy at Tirunelveli township area on 1st April 2020. Land was donated by his grandfather worth Rs.10,00,000 as per his will. His father Shankar donated Rs.5,00,000 for the construction and running the academy. He spent Rs.3,00,000 for construction of the pavilion. 200 players of Tirunelveli joined the academy and they paid yearly subscription of Rs.1,200 each. 10 players paid in advance for the next year 2021-22. Vijayashankar appointed well experienced coach for them, the coach fee amounted to Rs.1,20,000 p.a. The maintenance expenses amounted to Rs.75,000. Bats and balls purchased during the year amounted to Rs.15,000. Closing stock of bats and ball amount to Rs.1,000. Based on the above information you are required to answer the following question. The liability towards advance subscription amounted to:

Option 1: Rs.12,000

Option 2: Rs.24,000

Option 3: Rs.1,200

Option 4: Rs.1,20,000

Question : Which international trade agreement promoted trade liberalization in India?

Option 1: ASEAN Free Trade Agreement

Option 2: SAARC Preferential Trade Agreement

Option 3: South Asian Free Trade Area (SAFTA)

Option 4: Comprehensive Economic Cooperation Agreement (CECA)

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.

The Maasais live in (1)_____ very beautiful part of Africa. They live on the wide plains in southern and northern Kenya and northern Tanzania. The area (2)_____ of miles of rolling grassland, on which you can find thorny bushes and rocky hills. The people move from one place to another according to the seasons, looking for grasses and other plants (3)_____ which their cattle can graze. They have no permanent home. When they want to settle in a place for some time, they build a kind of camp called a 'Manyatta', where a few families live for a (4)_____ weeks or months. Then they move on again, taking their few belongings with them, and burning the old 'Manyatta' to the ground.

Question:

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

Option 1: with

Option 2: at

Option 3: on

Option 4: by

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.

The Maasais live in (1)_____ very beautiful part of Africa. They live on the wide plains in southern and northern Kenya and northern Tanzania. The area (2)_____of miles of rolling grassland, on which you can find thorny bushes and rocky hills. The people move from one place to another according to the seasons, looking for grasses and other plants (3)_____which their cattle can graze. They have no permanent home. When they want to settle in a place for some time, they build a kind of camp called a 'Manyatta', where a few families live for a (4)_____weeks or months. Then they move on again, taking their few belongings with them, and burning the old 'Manyatta' to the ground.

Question:

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

Option 1: that

Option 2: a

Option 3: their

Option 4: some