All MCQs

2. Purchases + opening stock – closing stock = ?

A) Amount of sales

B) Gross profit

C) Cost of goods sold

D) Net income

✅ ANSWER: C
Purchases + opening stock – closing stock = Cost of goods sold.

1. A debit balance in the bank statement indicates

A) Cash at bank

B) Bank overdraft

C) Over payment to creditors

D) Cash in hand

✅ ANSWER: B
A debit balance in the bank statement indicates Bank overdraft. Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank.

26. Economic survey is published by

A) Ministry of Finance

B) Planning Commission

C) Government of India

D) Indian Statistical Institute

✅ ANSWER: A
The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry. It is the ministry’s view on the annual economic development of the country.

23. Xerography is a process of ___________.

A) electrical photography

B) blue printing

C) fixing stamps

D) printing address

✅ ANSWER: B
Xerography is a process of blue printing. Xerography is standard copy machine technology using toner on bond paper. When large size xerography machines became available, c. 1975, they replaced the older printing methods.

20. _______ is the first state to ratify GST bill.

A) Andhra Pradesh

B) Assam

C) Arunachal Pradesh

D) Bihar

✅ ANSWER: B

17. At the point of satiety, marginal utility is

A) Zero

B) Positive

C) Maximum

D) Negative

✅ ANSWER: B
At the point of satiety, marginal utility is positive. Goods where there is a point of satiety. This situation is common in food. To the point of satiety, the marginal utility is positive; after that point, the marginal utility is negative.

14. Stock portfolio with highest book to market ratios is considered as

A) H portfolio

B) L portfolio

C) S portfolio

D) B to M portfolio

✅ ANSWER: A
Stock portfolio with highest book to market ratios is considered as H portfolio.

11. Formula of 1 – unexplained variation / total variation is used to calculate

A) coefficient of determination

B) coefficient of index

C) coefficient of residual

D) coefficient of prediction

✅ ANSWER: A
Formula of 1 – unexplained variation / total variation is used to calculate coefficient of determination.

9. Which of the following is not a dimension of privacy?

A) Need for personal space

B) Need to feel in control of our possessions

C) Need to feel in control of our personal information

D) All of the above are dimensions of privacy

✅ ANSWER: D
Need for personal space, Need to feel in control of our possessions and Need to feel in control of our personal information all are dimension of privacy.

6. Tracking stock of company is also classified as

A) target stock

B) dividend stock

C) firm part stock

D) tied stock

✅ ANSWER: A
Tracking stock of company is also classified as target stock. Target Stock means any Target Preferred Stock and/or any Target Common Stock.