KUET 2023 Question Paper M.Com

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KUET 2023 Question Paper M.Com

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ENTRANCE TEST-2023
SCHOOL OF BUSINESS AND MANAGEMENT STUDIES

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COMMERCE

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Question Booklet Series

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Total Questions : 60

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Time Allowed : 70 Minutes Roll No. :

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Test Roll Number in the space provided at the top of this page of Question a
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Instructions for Candidates :

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1. Write your Entrance Booklet and
fill up the necessary in the spaces provided on the OMR Answer Sheet.
2. OMR Answer Sheet has an Original Copy and a Candidate’s Copy glued beneath it at the top. While making
entries in the Original Copy, candidate should ensure that the two copies are aligned properly so that the
entries made in the Original Copy against each item are exactly copied in the Candidate’s Copy.
3. All entries in the OMR Answer Sheet, including answers to questions, are to be recorded in the Original Copy
only.

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4. Choose the correct / most appropriate response for each question among the options A, B, C and D and
darken the circle of the appropriate response completely. The incomplete darkened circle is not correctly

mcircle of correct/most appropriate response. In no case
read by the OMR Scanner and no complaint to this effect shall be entertained.

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5. Use only blue/black ball point pen to darken the

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6. Do not darken more than one circle ofaoptions for any question. A question with more than one darkened
gel/ink pen or pencil should be used.

response shall be considered wrong.
7. There will be ‘Negative Marking’ for wrong answers. Each wrong answer will lead to the deduction of
0.25 marks from the total score of the candidate.
8. Only those candidates who would obtain positive score in Entrance Test Examination shall be eligible for
admission.

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9. Do not make any stray mark on the OMR sheet.

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10. Calculators and mobiles shall not be permitted inside the examination hall.

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11. Rough work, if any, should be done on the blank sheets provided with the question

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be evaluated.
13. Ensure that your OMR Answer Sheet has been signed by the Invigilator and the candidate himself/herself.
14. At the end of the examination, hand over the OMR Answer Sheet to the invigilator who will first tear off the
original OMR sheet in presence of the Candidate and hand over the Candidate’s Copy to the candidate.

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1. The concept of Human-Relation-Orientation of 6. Which of the following doesn’t fall under Herzberg’s
management, which emphasizes people and the motivation factors?
relationships among people as the focus of (A) Interpersonal relations with subordinates
management, was pioneered by ______________. (B) Advancement
(A) John. F. Mee (C) Responsibility
(B) F. W. Taylor (D) Recognition
(C) Harold Koontz 7. The __________ accomplishes results through use
of authority, fear of deprivation, punishment and other
(D) Ralph C. Davis coercive measures.
2. __________ is a system of relationships that govern (A) Democratic Leader
the activities of the people working in the organization (B) Autocratic Leader
to achieve the intended goals. (C) Charismatic Leader
(A) Directing (D) All of the above
(B) Organizational Structure 8. In order to improve a manager’s ability to lead, he
(C) Controlling needs to cultivate following attitude(s) _________.
(D) Staffing (A) Empathy
(B) Objectivity
3. Which of the following is not the principle of
Organizing? (C) Both (A) & (B)
(A) Authority should be granted to match (D) Neither (A), nor (B)
responsibility. 9. Before an income can be charged under the head
Salaries under Income Tax Act 1961, it is vital that
(B) Each person should be immediately responsible there should exist______________.
to several superiors. (A) A government recognized organization
(C) There should not be too much centralization. (B) Relationship of employer and employee
(D) There should be equitable distribution of work. (C) Both (A) & (B)
4. The basic purpose of _______ is to utilize (D) Neither (A), nor (B)
management time in the most efficient and best 10. Sujata, an actress, is employed in Chopra Films,
possible manner by involving them only when there where she is paid remuneration of Rs. 2 lacs per/
is an important deviation from the routine or normal month. She acts in different films produced by various
business results. producers. The remuneration for acting in such films
is directly paid to Chopra Films by the different
(A) Management by Exceptions producers. Thus, Rs. 2 lacs p/m constitutes as
(B) Management by Objectives _________ in the hands of Sujata.
(C) SWOT Analysis (A) Income from profession
(D) Span of Control (B) Other income
5. Which of the following is not true about Maslow’s (C) Commission
Need Hierarchy Theory? (D) Salary
(A) The needs of people are arranged according 11. Mr. Firdous is receiving Rs. 150 p/m and Rs. 70
p/m for his two sons as children education allowance.
to their perceived priority He also receives Rs. 1800 p/m as transport
(B) The human needs are divided into five allowance and Rs. 500 p/m as tribal area allowance.
categories What is his taxable allowances?
(C) Advancing towards higher-order needs means (A) Rs. 25800
more satisfaction (B) Rs. 26400
(D) People simultaneously pursue multiple order of (C) Rs. 28200
needs (D) Rs. 27000

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as 12. ___________ is a payment made by an employer ag
17. If an act of company is Ultra-Vires then it ________.
in appreciation of services rendered by the employee. (A) Is binding on a company
(A) Commuted Pension (B) Can be rectified by the members
(B) Uncommuted Pension (C) Both (A) & (B)
(C) Bonus (D) Neither (A), Nor (B)
(D) Gratuity 18. According to ______ stakeholders need not to

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13. Section 73 of Income Tax Act 1961 provides that

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enquire whether the necessary meeting was

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the losses in speculation business can be set off against convened and held properly. They are entitled to take

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the profits of _________.

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it for granted that the company had gone through all

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(A) Any business other than speculation business
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the proceedings properly.

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(B) Any business

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(A) Doctrine of Indoor Management

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(C) Speculation business only (B) Doctrine of Constructive Notice
(D) None of these (C) Doctrine of Ultra-Vires
14. Section 80C provides deduction of savings in (D) Doctrine of Intra-Vires
specified modes of investment from the Gross Total
19. According to Section 23 of Companies Act 2013, a
Income and it includes________.
private company cannot issue securities through ___.
(A) Premium paid in respect of Life Insurance
Policy (A) Private Placement
(B) Premium paid in respect of a contract for (B) Rights Issue

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(C) FPO

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deferred annuity

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(C) Contribution to PF (D) Bonus Issue

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(D) All of the above 20. In ________ the price per security and number of

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15. Under Section 24 of the Income Tax Act 1961, securities are left open to be decided post closure of
following is/are allowed as deduction from Annual
Value under the head Income from House a g the issue.
(A) Prospectus
Property_____. (B) Shelf Prospectus
(A) 30 percent of NAV (C) Red Herring Prospectus
(B) Interest on borrowed capital (D) Constructive Public Notice
(C) Both (A) & (B) 21. Section 271 of the Companies Act, 2013 lays down
(D) Neither (A), nor (B) circumstances in which Company may be wound up

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16. During the previous year 2021-22, Mr. X has by the Tribunal

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following income and brought forward losses : Short-
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(A) If the Tribunal is not of the opinion that it is just

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term capital gains Rs. 150000, Long-term capital

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and equitable that the company should be

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gains, Rs. 75000; short-term capital losses,

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wound up

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Rs. 37000 and Long-term capital losses, Rs. 96000.

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What is the taxable income of Mr. X as Capital gains (B) If the company has, by special resolution,

ag for the A. Y. 2022-23? resolved that the company be wound up by
the Tribunal
(A) Rs. 225000
(C) If the company has not acted against the
(B) Rs. 113000
interests of the sovereignty of India
(C) Rs. 92000
(D) None of the above
(D) Rs. 21000

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22. Which of the following is not objective of the Annual 27. Which of the following is true about a Contract of
General Meeting (AGM)? Sale?
(A) To discuss functioning of the business (A) Delivery of goods and payments cannot be
(B) To take steps to protect interest of the made in installments
shareholders (B) Delivery of goods can be made in installments
(C) To discuss matter of urgent importance that but not payments
cannot be postponed (C) Delivery of goods cannot be made in
(D) None of the above installments but payments can be
23. Who is/are authorized to call Annual General Meeting (D) Delivery of goods as well as payments can be
made in installments
(AGM)?
28. Goods which are in existence at the time of Contract
(A) Board of Directors
of Sale are known as
(B) Any individual director
(A) Present Goods
(C) General Manager (B) Specific Goods
(D) CEO
(C) Existing Goods
24. As per Section177 of the Companies Act, 2013, (D) None of the above
certain companies have to establish Vigil/Whistle-
blowing mechanism. However, a whistleblower can 29. Under Section 64, a Limited Liability Partnership
be (LLP)may be wound up by Tribunal, in
case___________.
(A) Within the organization
(A) LLP decides that it should be wound up by
(B) Outside the organization Tribunal
(C) Both (A) & (B) (B) LLP is unable to pay its debts
(D) Neither (A), nor (B) (C) Number of partners in LLP fall below two for
25. Rani contracted to teach dance to Shruti and received more than six months
Rs. 5000 in advance from her. Rani met with an (D) All of the above
accident and is unable to teach dance now, but she 30. Which of the following statement about Limited
has her daughter as her legal representative. Shruti Liability Partnership (LLP) is true?
can now ________.
(A) LLP has no separate personality apart from its
(A) Force her daughter to teach her dance members
(B) Rescind the contract and ask for refund of (B) A listed company cannot be converted into LLP
money
(C) The liability of each partner in LLP is unlimited
(C) Rescind the contract but cannot ask for refund
(D) Members of LLP are not taxed as partners
of money
31. A Bill of Exchange_________.
(D) Can sue Rani for non-performance of the
contract (A) Must contain an express order to pay
26. X, Y, & Z jointly promised to pay M Rs. 100,000, (B) Need not be in writing always
but Z dies before the performance of the contract. (C) Both (A) & (B)
Now, the contract _______. (D) Neither (A), nor (B)
(A) Becomes void on Z’s death 32. There are __________ parties to Cheque.
(B) Should be performed by X&Y along with Z’s (A) Two
legal representatives (B) Three
(C) Should be performed by X&Y alone (C) Four
(D) Should be renewed between X, Y, & M (D) Up to seven

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as 33. Which of the following is true about International ag
38. Under _______________ the full cash price of the
Financial Reporting Standards (IFRS)? asset is debited to the Asset Account and Credited
(A) They are considered non-principle based to the Hire Vendor Account.
standards (A) Sales Method
(B) They dictate specific treatments (B) Interest Suspense Method
(C) They establish broad rules (C) Cash Price Method
(D) All of the above (D) All of the above

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34. If an organization follows Fundamental Accounting 39. If the hire purchaser fails to pay any installment, the

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Assumptions while preparing its Financial hire vendor can take back asset in actual for and

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Statements, then_____________. __________.

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(A) Refund the earlier payments to hire purchaser
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(A) It must disclose same in the financial statements

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(B) It need not disclose same in the financial (B) Treat earlier payments as the hire charges
statements (C) Treat down-payment as hire charges and refund
(C) It may post same on its official website for the installments
public information (D) Sue hire purchaser for non-payment of rest of
(D) None of these installments
35. Following are the particulars of Mr. X: Cash 40. Which of the following is drawback of Joint-
Rs. 70000, Furniture Rs. 25000, Goods Rs. 2000, Venturing?
Mr. Y owes to Mr. X, Rs. 8000 and Mr. X owes to (A) It brings economies of scale
Mr. Z Rs. 5000. How much is the own capital of (B) Access to different markets and geographies

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Mr. X? (C) Infusion of new expertise

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(A) Rs. 105000

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(D) Cultural incompatibility

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(B) Rs. 100000

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41. Following are the particulars of Branch X: Goods

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(C) Rs. 92000

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received Rs. 50000, Furniture received beginning

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(D) Rs. 87000 Rs. 10000, Credit Sales Rs. 62000, Bad Debts
36. The principle of Consistency improves the Rs. 1000; Closing Stock Rs. 10000, Closing
comparability of financial statements through the time. Debtors, Rs. 61000, and Furniture at end Rs. 8000
However, Accounting Policy can be changed _____. (after depreciation). Find out the profit of Branch X.
(A) If required by a statue (A) Rs. 20000
(B) If required by an accounting standard (B) Rs. 19000
(C) Both (A) & (B) (C) Rs. 17000
(D) Rs. 14000

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(D) Neither (A), Nor (B)

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42. The major difference (s) between Branch Accounting

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37. Javid purchased a machine on hire purchase system.

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As per terms he is required to pay Rs. 70000 down and Departmental Accounting is/are___________.

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payment, Rs. 53000, Rs. 49000, & Rs. 55000 at (A) Conversion of foreign currency figures is

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the end of 1st , 2nd , & 3 rd years respectively. Interest necessary in Branch Accounting and not in

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is charged @ 10 Percent p.a. What is the total cash Departmental Accounting

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(A) Rs. 200000
(B) Reconciliation of head office and branch office
accounts is not necessary and in Departmental
(B) Rs. 210000 accounting it is necessary
(C) Rs. 220000 (C) Both (A) & (B)
(D) Rs. 227000 (D) Neither (A), nor (B)

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43. AS 11 classifies foreign branches as ________ 49. The amalgamation takes place through _________.
(A) Autonomous branches and non-autonomous (A) The pooling of interest method
branches
(B) The purchase method
(B) Uncontrolled and fully-controlled branches
(C) Both (A) & (B)
(C) Integral and non-integral foreign operations
(D) Neither (A), Nor (B)
(D) None of these
50. In the process of Internal Reconstruction of a
44. Under Branch trading and profit/loss account method
company, ___________.
(A) H.O. prepares profit and loss account
(A) The existing shareholders become shareholders
(B) Each branch is treated as separate entity
of new company as well
(C) Both (A) & (B)
(B) A company doesn’t need court’s interference
(D) Neither (A), nor (B)
45. Holders of preference shares are _____________. (C) The capital doesn’t get reduced
(A) Entitled to receive dividends at fixed rate (D) The capital and debt structure is changed to
(B) Paid dividends after equity shareholders are bring company back to normalcy
paid dividends 51. The accumulated losses under the scheme of internal
(C) Paid dividends even if there are no profits reconstruction are written off against __________
(D) All of the above (A) Capital Reduction Account
46. In Cash Flow Statement, which of the following is (B) Share Capital Account
the source of cash?
(C) Shareholders’ Account
(A) Purchase of Investment
(D) None of these
(B) Redemption of preference shares
52. A process of reconstruction, which is carried out
(C) Raising of long-term loan
without liquidating the company and forming a new
(D) Payment of Dividends
is called____________.
47. Which of the following does come under Financing
(A) Amalgamation
Activities in Cash Flow Statement?
(A) Cash receipts from sale of property (B) Absorption
(B) Cash receipts from sale of goods (C) Internal Reconstruction
(C) Cash receipts from royalties (D) External Reconstruction
(D) Cash payments of amount borrowed 53. In order to cost control, following step(s) should be
48. Securities Premium Account is shown on the liabilities followed:
side in the Balance Sheet under the heading: (A) No target cost should be laid down
(A) Reserves and Surplus (B) Actual performance should be measured
(B) Current Liabilities against standard
(C) Share Capital (C) Both (A) & (B)
(D) Long-Term Liabilities
(D) Neither (A), nor (B)

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A firm shows variable cost as Rs. 70000, and fixed
Accounting? cost as Rs. 20000 on existing production. The Firm
produced additional 100 units and shows total cost
(A) It uses both historical costs and predetermined
as Rs. 120000. What is the marginal cost of the firm?
costs
(A) Rs. 30000
(B) A set format is used to prepare the accounting
information (B) Rs. 50000
(C) Rs. 90000

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(C) The accounting information is prepared for the

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internal management (D) Rs. 120000

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58. On the bases of Floor Area or Volume of Department
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(D) It provides details of cost of every product

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following overhead(s) is/are allotted:

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55. Calculate the Economic Order Quantity (EOQ) from

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(A) Lighting

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the following information: Material Consumption

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(B) Heating
10000 kg/p.a, Ordering Cost, Rs. 50 per order,
Material Cost Rs. 2 per kg, Storage Cost, 8 percent (C) Fire precaution service
on average inventory. (D) All of these
(A) 1800 kg 59. Which of the following doesn’t fall under Factory
Overheads?
(B) 2000 kg
(A) Depreciation of Office Building
(C) 2500 kg
(B) Indirect Labour
(D) 2700 kg
(C) Stock Keeping Expenses

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56. Calculate inventory turnover ratio from the following
(D) Cost of Primary Packing
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information: Opening Stock Rs. 90000, Purchases

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60. Fixed overheads are costs which ____________.
during the year, Rs. 270000, and Closing Stock

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(A) Tend to vary with the volume of activity

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Rs. 110000.

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(B) Tend to vary partly with the volume of activity
(A) 1.5
(C) Tend to remain constant up to certain volume
(B) 2.5
of activity
(C) 3.5
(D) Tend to remain constant irrespective of the
(D) 4.5 volume of activity

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ROUGH WORK

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