SilverZone ISCO Sample Paper Class 11

Syllabus and Sample Questions: ISCO Class 11th ISCO (Syllabus & Sample Questions) BUSINESS STUDIES, ACCOUNTANCY, ECONOMICS AND THE ICSI The actual question paper contains 50 questions. The duration of the test paper is 60 minutes. 1. BIFR stands for: capital of the corporation is ₹75 crore and the paid-up (A) Board for Industrial and Financial Reconstruction capital as on 31 March 2005 was ₹67.52 crore. 89.9% of the paid-up equity capital of the corporation is held in the (B) Board on Institution and Financial Reconstitution name of the President of India whereas Indian Railways is (C) Board on Indian and Foreign Resolution India’s national railway system operated by the Ministry (D) Board on Indian and Forex Resolution of Railways. It manages the fourth largest railway network in the world by size, with 12,01,407 km of total track over 2. Which type of bank is primarily governed by the Indian 67,368 km route. How will you classify the above stated Banking Regulation Act 1949? undertakings as a form of public-sector enterprise? (A) Cooperative banks (A) Departmental Undertaking (B) Specialised banks (B) Government Company (C) Commercial banks (C) Statutory Corporation (D) Central bank (D) Joint Venture 3. The directors take all decisions on behalf of the 6. What does the acronym “AICPA” stand for in the field of shareholders, keeping in mind their own benefit. Identify accounting? the demerit stated here. (A) Association of International Certified Public (A) Delay in decision making Accountants (B) Numerous regulations (B) American Institute of Certified Public Accountants (C) Lack of secrecy (C) Accounting and Internal Control Practices Association (D) Oligarchic management (D) Advanced International Certification in Public 4. Which of the following statements regarding preliminary Accounting contracts is incorrect? 7. Which of the following is known as the principal book of (A) Preliminary contracts are entered into by promoters accounting? before the company’s incorporation. (A) Ledger (B) These contracts are legally binding on the company (B) Journal from the moment of incorporation. (C) Trial balance (C) A company may choose to honour preliminary contracts with the same terms after Incorporation. (D) Balance sheet (D) Promoters remain personally liable to third parties for 8. Which of the following is an example of a capital these contracts even after incorporation. expenditure? 5. The India tourism development Corporation came into (A) Wages paid for repair of building existence in October 1966 and has been the prime (B) Wages paid for white washing of the building mover in the progressive development, promotion and (C) Wages paid for the construction of the building expansion of tourism in the country. The authorised (D) Wages paid for cleaning of building 1

Syllabus and Sample Questions: ISCO 9. Consider the following statements: 12. The Arithmetic mean of 1, 3, 5, 6, x, 10 is 6. The value of Statement I: Revenue reserves are used for compliance x is: with legal requirements. (A) 11 (B) 10 Statement II: Capital reserves are used for strengthening (C) 12 (D) 13 the financial position. 13. Data collected on literacy rate from the census reports is: Which of the following options is correct? (A) Secondary data (A) Both statements are true. (B) External data (B) Statement I is true, but Statement II is false. (C) Primary data (C) Statement I is false, but Statement II is true. (D) Secondary and External data (D) Both statements are false. 14. The bow shape of the production possibilities curve 10. Purchased goods of ₹40,000; trade discount 15% and 5% illustrates cash discount on purchase price, IGST 12% and Payment (A) Law of Increasing Marginal Cost made by cheque, bank will be credited by __________ . (B) The production is inefficient (A) `38,380 (B) `36,830 (C) The production combination of the given two goods (C) `36,330 (D) `36,380 is unattainable 11. Duopoly is a type of: (D) The demand is relatively elastic (A) Perfect Competitive Market 15. Index numbers are expressed in __________. (B) Monopolistic Competition (A) ratios (C) Monopoly Market (B) percentages (D) Oligopoly Market (C) combinations (D) squares SAMPLE QUESTION’S ANSWERS 1. (A) 2. (C) 3. (D) 4. (B) 5. (D) 6. (B) 7. (A) 8. (C) 9. (D) 10. (D) 11. (D) 12. (A) 13. (D) 14. (A) 15. (B) 2