100 ചോദ്യങ്ങള്‍ ഉത്തരങ്ങള്‍

1. The safest loan in a PACS is:

(A)Agricultural Loan            (B)Gold Loan

(C)Ordinary Loan     (D)Trade Loan

2. ECS means:

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

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

3. 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

4. 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

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

(A)1913          (B)1914

(C)1932          (D)1956

6. The drawer of the cheque is always:

(A)Banker      (B)Debtor

(C)Customer (D)Payee

7. 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

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

(A)Jawaharlal Nehru           (B)Rajiv Gandhi

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

9. The year of payment of bonus act is:

(A)1972          (B)1965

(C)1962          (D)1963

10. Current audit file consist of matters of:

(A)Future Importance          (B)Past Year

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

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

(A)Authorized           (B)Issued

(C)Pending   (D)Paid-up

12. Cash Credit account is:

(A)Working Capital Finance          (B)Project Finance

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

 

13. 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

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

(A)1912          (B)1915

(C)1946          (D)1950

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

(A)Bank         (B)Cash

(C)Personal  (D)Creditors

16. Investment banks are originated in:

(A)India          (B)UK

(C)USA          (D)Germany

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

(A)1865          (B)1875

(C)1885          (D)1895

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

(A)Equity       (B)Liability

(C)Capital      (D)Assets

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

(A)Set-off       (B)Appropriate

(C)Lien           (D)Special Charge

20. ___________ is the health care product of matsyafed.

(A)Nutrifish   (B)Vyasa

(C)Matsyaneethi      (D)Chriton

21. The DICGC was setup in:

(A)1949          (B)1978

(C)1969          (D)1975

22. Excess of assets over liabilities is:

(A)Loss          (B)Profit

(C)Capital      (D)Drawings

23. Noting Charges is an expense to the:

(A)Acceptor   (B)Drawer

(C)Payee       (D)Drawee

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

(A)Section 18            (B)Section 22

(C)Section 21           (D)Section 23

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

(A)1     (B)2

(C)3    (D)6

26. IDBI was setup in the year:

(A)1935          (B)1948

(C)1956          (D)1964

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

(A)Bad Debts            (B)Debtors

(C)Bad Debts Recovered   (D)Cash

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

(A)RCS          (B)NABARD

(C)State Government          (D)RBI

29. 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

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

(A)Luzzatti     (B)Wollenburg

(C)Massini     (D)Grudwing

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

(A)Anand, Gujarat    (B)Allahabad, UP

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

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

(A)Loss          (B)Liability

(C)Asset         (D)Super Profit

33. 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

34. 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

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

(A)Labour Contract  (B)Marketing

(C)Credit        (D)None of these

 

 

36. Collective settlement in Israel is:

(A)Moshav     (B)Shittufi

(C)Kibbutz     (D)Kolkhoz

37. Stock is a consolidation of _______ shares.

(A)Reserve    (B)Partly Paid

(C)Uncalled  (D)Fully Paid

38. Automatic review of operation is termed as:

(A)Internal Audit       (B)Internal Check

(C)Test Checking     (D)None of these

39. RRB are sponsored by _____ banks.

(A)Foreign     (B)Private

(C)Nationalized        (D)None of these

40. Premium on issue of debentures is a:

(A)Capital Loss         (B)Capital Profit

(C)Liability     (D)None of these

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

(A)Kerala       (B)Karnataka

(C)Tamil Nadu          (D)Goa

42. 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

43. 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

44. ‘Good to Know’ is related to:

(A)KF  (B)ICA

(C)NCUI         (D)JAICA

45. _______ was the member secretary of AIRCSC.

(A)A D Gorwala        (B)B Venkittapai

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

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

(A)Dupernix  (B)Frederic Nicholson

(C)Robert Owen       (D)S S Puri

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

(A)Sarayya    (B)Narasimham

(C)CRAFICARD       (D)Madhavadas

48. Credit balance in passbook indicates:

(A)Deposit     (B)Overdraft

(C)Liability     (D)None of these

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

(A)Socialism (B)Co-operation

(C)Communism        (D)Capitalism

50. 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

51. Section 22 of RBI Act deals with:

(A)Clearing House  (B)Fixing Margin

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

52. 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

53. PMJDY is not implemented or practised through:

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

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

54. Interest on capital is:

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

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

55. The first moshav ovidm was established in:

(A)1920          (B)1919

(C)1921          (D)1918

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

(A)Section 69A         (B)Section 71

(C)Rule 80    (D)Rule 95

57. 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

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

(A)1956          (B)1981

(C)1976          (D)1988

59. 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

 

60. 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

61. 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

62. 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

63. 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

64. ‘Hantex’ was formed in the year:

(A)1961          (B)1967

(C)1965          (D)1969

65. Total number of nationalized banks in 1969 was:

(A)16  (B)14

(C)18  (D)6

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

(A)2% (B)3%

(C)5% (D)4%

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

(A)Prime Cost           (B)Works Cost

(C)Overhead (D)Costs of goods sold

68. Loan outstanding with members is shown as:

(A)Liability     (B)Asset

(C)Loss          (D)Income

69. Sight bill is another name for:

(A)Time Bill   (B)Demand Bill

(C)Clean Bill (D)Special Bill

70. Co-operative farming is most developed in:

(A)America    (B)Japan

(C)Russia      (D)None of these

 

71. Land Development Bank issue ________ type of debentures.

(A)2     (B)3

(C)4    (D)5

72. ________ 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

73. Section 123 of NI Act deals with:

(A)General Crossing           (B)Special Crossing

(C)Double Crossing            (D)None of these

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

(A)Saraiyya   (B)Narasimham

(C)Venkitappaih       (D)Madhavadas

75. Profit distribution of a society is decided by:

(A)Managing Committee    (B)Auditor

(C)Registrar  (D)General Body

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

(A)Profit Account     (B)Reserve Account

(C)Capital Account  (D)Suspense Account

77. 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

78. Exemption under Section 54 is available to:

(A)Individual and HUF        (B)Individuals Only

(C)Company and Individual          (D)All Assets

79. Affiliation fee to the SCU is calculated on:

(A)Gross Profit          (B)Net Profit

(C)Reserve Fund     (D)Share Capital

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

(A)1966          (B)1937

(C)2012          (D)1995

81. FERA was passed in the year:

(A)1947          (B)1949

(C)1956          (D)1942

 

 

82. 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

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

(A)Government         (B)Liquidator

(C)Arbitration Court (D)RCS

84. __________ 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

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

(A)Manchester          (B)Koshov

(C)Noida        (D)Rochdale

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

(A)NCDC       (B)NAFSCOB

(C)NAFED     (D)NCUI

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

(A)Surety       (B)Principle Debtor

(C)Creditor    (D)Payee

88. 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

89. Returns outward is also known as:

(A)Purchase Returns          (B)Stock Return

(C)Sales Return       (D)Return Inwards

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

(A)1948          (B)1956

(C)1982          (D)1992

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

(A)Asset         (B)Liability

(C)Surplus    (D)None of these

92. 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

 

 

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

(A)Germany  (B)Ireland

(C)Denmark  (D)Sweden

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

(A)Prudence (B)Business Entity

(C)Accruals   (D)Consistency

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

(A)Secretary  (B)President

(C)Managing Committee    (D)Chief Accountant

96. Rural Consumer Scheme is sponsored by:

(A)NCCF       (B)NCDC

(C)NAFED     (D)NABARD

97. 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

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

(A)Pledge      (B)Mortgage

(C)Hypothecation    (D)None

99. __________ method do we use for depreciating tools.

(A)Diminishing Balance     (B)Revaluation

(C)Straight Line        (D)Reducing Balance

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

(A)Kind Component            (B)Agricultural Component

(C)Additional Cash Component   (D)Agricultural Inputs

 

 

 

 

 

 

 

 

 

 

 

 

 

ANSWER KEY

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