100 ചോദ്യങ്ങള്‍ ഉത്തരങ്ങള്‍

Rajesh P.V.

  1. The safest loan in a PACS is:

(A)Agricultural Loan            (B)Gold Loan

(C)Ordinary Loan     (D)Trade Loan

  1. ECS means:

(A)Electronic Cheque Clearance (B)Electronic Customer Service

(C)Electronic Consumer Service  (D)Electronic Clearing Service

  1. Which one of the following ratios is likely to be affected the most on account of price level changes?

(A)Current Ratio       (B)Inventory Turnover Ratio

(C)Debtors Turnover Ratio (D)Fixed Asset Turnover Ratio

  1. The book entitled “The System of Agricultural Credit and Insurance” is written by:

(A)Luis Tardy            (B)Edward Maclagan

(C)M L Darling          (D)Dr. M S Swaminathan

  1. Madras Co-operative Societies Act was enacted in the year:

(A)1913          (B)1914

(C)1932          (D)1956

  1. The drawer of the cheque is always:

(A)Banker      (B)Debtor

(C)Customer (D)Payee

  1. Which of the following is debit to the business?

(A)Decrease in Asset          (B)Increase in Income

(C)Decrease in Liability      (D)Increase in Capital

  1. NDDB was established during whose tenure as prime minister?

(A)Jawaharlal Nehru           (B)Rajiv Gandhi

(C)Lal Bahadur Sasthri       (D)None of these

  1. The year of payment of bonus act is:

(A)1972          (B)1965

(C)1962          (D)1963

  1. Current audit file consist of matters of:

(A)Future Importance          (B)Past Year

(C)The Year of Audit           (D)None of these

  1. Called-up capital minus calls in arrears is ________ capital.

(A)Authorized           (B)Issued

(C)Pending   (D)Paid-up

  1. Cash Credit account is:

(A)Working Capital Finance          (B)Project Finance

(C)Long term loans for acquiring fixed assets    (D)None of these


  1. Which section of KCS Act empowers the government to exempt any co-operative societies from the payment of certain taxes, fees and duties?

(A)Section 38            (B)Section 39

(C)Section 40           (D)Section 41

  1. The Kaira district milk producers union was formed in the year:

(A)1912          (B)1915

(C)1946          (D)1950

  1. When cheque deposited into bank dishonoured, the account debited is:

(A)Bank         (B)Cash

(C)Personal  (D)Creditors

  1. Investment banks are originated in:

(A)India          (B)UK

(C)USA          (D)Germany

  1. The Danish egg export society was founded in the year:

(A)1865          (B)1875

(C)1885          (D)1895

  1. Total claims against the assets of a business is called:

(A)Equity       (B)Liability

(C)Capital      (D)Assets

  1. Clayton’s rule is related to bankers right to:

(A)Set-off       (B)Appropriate

(C)Lien           (D)Special Charge

  1. ___________ is the health care product of matsyafed.

(A)Nutrifish   (B)Vyasa

(C)Matsyaneethi      (D)Chriton

  1. The DICGC was setup in:

(A)1949          (B)1978

(C)1969          (D)1975

  1. Excess of assets over liabilities is:

(A)Loss          (B)Profit

(C)Capital      (D)Drawings

  1. Noting Charges is an expense to the:

(A)Acceptor   (B)Drawer

(C)Payee       (D)Drawee

  1. Section ___ of KCS Act deals with transfer of shares of members.

(A)Section 18            (B)Section 22

(C)Section 21           (D)Section 23

  1. Audit certificate should be issued by DCA within ___ months after the completion of the audit.

(A)1     (B)2

(C)3    (D)6

  1. IDBI was setup in the year:

(A)1935          (B)1948

(C)1956          (D)1964

  1. Bad debts written off earlier and subsequently received is debited to ____ account.

(A)Bad Debts            (B)Debtors

(C)Bad Debts Recovered   (D)Cash

  1. The rate of interest of debentures issued by KSCARDB is determined by:

(A)RCS          (B)NABARD

(C)State Government          (D)RBI

  1. A dispute in connection with the election of the managing committee shall be filed within ____ from the date of election.

(A)3 Months  (B)2 Months

(C)1 Month    (D)6 Months

  1. ____ established labour co-operative societies in Italy,

(A)Luzzatti     (B)Wollenburg

(C)Massini     (D)Grudwing

  1. The first diary co-operative society in India was registered at

(A)Anand, Gujarat    (B)Allahabad, UP

(C)Aurangabad, Maharashtra       (D)Ahmadebad, Gujarat

  1. Calls in advance is a/an ____ to a company.

(A)Loss          (B)Liability

(C)Asset         (D)Super Profit

  1. In outright purchase system, the society make ____ purchase of goods from the members by offering ruling market price.

(A)Cash         (B)Credit

(C)Discount  (D)Agency

  1. Which section of BR Act 1949 explains about cash reserve of banks to be maintained?

(A)Section 61            (B)Section 56

(C)Section 22           (D)Section 18

  1. Price fluctuation fund is created by ____ co-operative societies.

(A)Labour Contract  (B)Marketing

(C)Credit        (D)None of these



  1. Collective settlement in Israel is:

(A)Moshav     (B)Shittufi

(C)Kibbutz     (D)Kolkhoz

  1. Stock is a consolidation of _______ shares.

(A)Reserve    (B)Partly Paid

(C)Uncalled  (D)Fully Paid

  1. Automatic review of operation is termed as:

(A)Internal Audit       (B)Internal Check

(C)Test Checking     (D)None of these

  1. RRB are sponsored by _____ banks.

(A)Foreign     (B)Private

(C)Nationalized        (D)None of these

  1. Premium on issue of debentures is a:

(A)Capital Loss         (B)Capital Profit

(C)Liability     (D)None of these

  1. COMARK India Coffee makers co-operative society is at:

(A)Kerala       (B)Karnataka

(C)Tamil Nadu          (D)Goa

  1. An award made under section 70 of KCS Act can be executed as per ____ of KCS Act.

(A)Section 29            (B)Section 76

(C)Section 72           (D)Section 75

  1. Rule 52 stipulates that the amount deducted from the salary or wages of the employee shall be remitted by the employer to the society with in ____ days.

(A)5     (B)30

(C)15  (D)7

  1. ‘Good to Know’ is related to:


(C)NCUI         (D)JAICA

  1. _______ was the member secretary of AIRCSC.

(A)A D Gorwala        (B)B Venkittapai

(C)Dr. R Gadgil         (D)N S R Sasthri

  1. Ends and Means of Co-operative Development was written by:

(A)Dupernix  (B)Frederic Nicholson

(C)Robert Owen       (D)S S Puri

  1. IRAC Norms in banks are recommended by ____ committee.

(A)Sarayya    (B)Narasimham

(C)CRAFICARD       (D)Madhavadas

  1. Credit balance in passbook indicates:

(A)Deposit     (B)Overdraft

(C)Liability     (D)None of these

  1. Optimum utilization of available resources is the feature of ______ system.

(A)Socialism (B)Co-operation

(C)Communism        (D)Capitalism

  1. Handloom weavers, fisheries, handicrafts and Milk co-operative societies are example of:

(A)Agro Industrial Societies           (B)Producer Societies

(C)Consumer Societies      (D)Processing Societies

  1. Section 22 of RBI Act deals with:

(A)Clearing House  (B)Fixing Margin

(C)Crossing of cheque       (D)Monopoly of note issue

  1. Limitation period of demand loan against term deposit receipt after executing DPN is:

(A)No limitation        (B)Period of term deposit receipt

(C)Three Years         (D)None of these

  1. PMJDY is not implemented or practised through:

(A)DCB’s       (B)State Co-operative Banks

(C)Private Banks      (D)Primary Service Co-operative Banks

  1. Interest on capital is:

(A)Credited to capital           (B)Debited to capital

(C)Debited to drawings       (D)Credited to drawings

  1. The first moshav ovidm was established in:

(A)1920          (B)1919

(C)1921          (D)1918

  1. The headquarters of co-operative tribunal is constituted under:

(A)Section 69A         (B)Section 71

(C)Rule 80    (D)Rule 95

  1. Who has the authority empowered to classify the society according to the financial position?

(A)Government         (B)Assistant Registrar

(C)General Body      (D)Managing Committee

  1. The National Federation of Labour Co-operatives was formed in:

(A)1956          (B)1981

(C)1976          (D)1988

  1. One of the following is not considered as payment:

(A)Share Capital Subscribed         (B)Share Capital Mobilized

(C)Disbursal of Loans         (D)Purchase of Goods


  1. The auditor should examine the various transactions involving expenditure, with the aim of ascertaining their ecomonics, necessity and reasonableness. What type of audit is this?

(A)Efficiency Audit  (B)Propriety Audit

(C)Management Audit        (D)Cost Audit

  1. To ensure effective implementation of prudential regulations and increased risks faced by banks in a liberalized environment, ______ was set up under RBI to attend exclusively the supervisory functions.

(A)Agriculture Credit Department (B)Banking Department

(C)Board of Financial Supervision           (D)Rural Planning and Credit Department

  1. Large sized credit societies are reorganized and converted as service co-operative societies in the resolution of:

(A)Gorwala Committee        (B)National Commission on Agriculture

(C)National Development Council           (D)None of these

  1. The changes in the market interest rate adversely affects a bank’s financial condition. It is called:

(A)Liquidity Risk       (B)Operational Risk

(C)Market Risk          (D)Interest Risk

  1. ‘Hantex’ was formed in the year:

(A)1961          (B)1967

(C)1965          (D)1969

  1. Total number of nationalized banks in 1969 was:

(A)16  (B)14

(C)18  (D)6

  1. The rate of interest charged under differential rate of interest scheme is:

(A)2% (B)3%

(C)5% (D)4%

  1. Indirect Material + Indirect Labour + Indirect Expense is called:

(A)Prime Cost           (B)Works Cost

(C)Overhead (D)Costs of goods sold

  1. Loan outstanding with members is shown as:

(A)Liability     (B)Asset

(C)Loss          (D)Income

  1. Sight bill is another name for:

(A)Time Bill   (B)Demand Bill

(C)Clean Bill (D)Special Bill

  1. Co-operative farming is most developed in:

(A)America    (B)Japan

(C)Russia      (D)None of these


  1. Land Development Bank issue ________ type of debentures.

(A)2     (B)3

(C)4    (D)5

  1. ________ is the maximum prescribed fee applicable to a member to exercise the right to inspect the accounts of the society.

(A)100            (B)150

(C)200            (D)50

  1. Section 123 of NI Act deals with:

(A)General Crossing           (B)Special Crossing

(C)Double Crossing            (D)None of these

  1. __________ was the chairman of Banking Commission of 1972.

(A)Saraiyya   (B)Narasimham

(C)Venkitappaih       (D)Madhavadas

  1. Profit distribution of a society is decided by:

(A)Managing Committee    (B)Auditor

(C)Registrar  (D)General Body

  1. Net profit of a proprietor is transferred to which account?

(A)Profit Account     (B)Reserve Account

(C)Capital Account  (D)Suspense Account

  1. Commercial banks to expand deposit through expending their loans and advances is known as:

(A)Credit Creation    (B)Trade Discount

(C)Deposit     (D)Bank Advances

  1. Exemption under Section 54 is available to:

(A)Individual and HUF        (B)Individuals Only

(C)Company and Individual          (D)All Assets

  1. Affiliation fee to the SCU is calculated on:

(A)Gross Profit          (B)Net Profit

(C)Reserve Fund     (D)Share Capital

  1. In which year, ICA approved the six principles?

(A)1966          (B)1937

(C)2012          (D)1995

  1. FERA was passed in the year:

(A)1947          (B)1949

(C)1956          (D)1942



  1. The chief executive shall prepare and submit the voters list duly approved by the committee to the electoral officer within ____ days prior to the date of election.

(A)20  (B)15

(C)35  (D)30

  1. An execution petition has to be filed before ____ under the KCS Act.

(A)Government         (B)Liquidator

(C)Arbitration Court (D)RCS

  1. __________ is the proportion of secondary or supplementary reserves to the total deposits maintained by the commercial banks.

(A)CRR          (B)SLR

(C)Monitory Ratio     (D)Credit Control Ratio

  1. The first collective farm organized in Bulgaria was at:

(A)Manchester          (B)Koshov

(C)Noida        (D)Rochdale

  1. _________ is registered under Multi-state Co-operative Societies Act.



  1. The person to whom the guarantee is given is called:

(A)Surety       (B)Principle Debtor

(C)Creditor    (D)Payee

  1. The procedure to conduct of election of the members in managing committee is Rule ___ of KCS Act.

(A)36  (B)35

(C)34  (D)35A

  1. Returns outward is also known as:

(A)Purchase Returns          (B)Stock Return

(C)Sales Return       (D)Return Inwards

  1. The National Stock Exchange of India was incorporated in:

(A)1948          (B)1956

(C)1982          (D)1992

  1. Subscription received in advance during an accounting year is:

(A)Asset         (B)Liability

(C)Surplus    (D)None of these

  1. Revenue receipts of a non-profit making organization are recorded in:

(A)Statement of financial Position            (B)Income and Expenditure Account

(C)Statement of Affairs       (D)Purchases Account



  1. Nordic is a co-operative consumer society in:

(A)Germany  (B)Ireland

(C)Denmark  (D)Sweden

  1. ________ accounting concept does not agree with making provision for discount receivable.

(A)Prudence (B)Business Entity

(C)Accruals   (D)Consistency

  1. Competent authority responsible for producing reports of a co-operative society for audit is:

(A)Secretary  (B)President

(C)Managing Committee    (D)Chief Accountant

  1. Rural Consumer Scheme is sponsored by:

(A)NCCF       (B)NCDC


  1. A society shall convene the first annual general body meeting within at:

(A)One year after obtaining registration  (B)One month after obtaining registration

(C)Six months after obtaining registration          (D)Three months after obtaining registration

  1. Possession of security with the banker in the case of:

(A)Pledge      (B)Mortgage

(C)Hypothecation    (D)None

  1. __________ method do we use for depreciating tools.

(A)Diminishing Balance     (B)Revaluation

(C)Straight Line        (D)Reducing Balance

  1. Under the crop loan system ‘C Component’ denotes:

(A)Kind Component            (B)Agricultural Component

(C)Additional Cash Component   (D)Agricultural Inputs















1.B      26.D    51.D    76.C

2.D      27.D    52.C    77.A

3.B      28.D    53.D    78.A.

4.A      29.C    54.A    79.D

5.C      30.C    55.C    80.A

6.C      31.B    56.D    81.A

7.C      32.B    57.A    82.C

8.C      33.A    58.B    83.D

9.B      34.D    59.B    84.B

10.C    35.B    60.C    85.B

11.D    36.C    61.C    86.C

12.A    37.D    62.C    87.B

13.C    38.B    63.D    88.D

14.C    39.C    64.A    89.A

15.C    40.B    65.B    90.D

16.D    41.B    66.D    91.B

17.D    42.B    67.C    92.B

18.A    43.D    68.B    93.C

19.B    44.A    69.B    94.A

20.D    45.D    70.C    95.A

21.B    46.D    71.B    96.B

22.C    47.B    72.A    97.D

23.A    48.A    73.A    98.A

24.D    49.D    74.A    99.B

25.C    50.B    75.D    100.C



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