dpsnoida.in International Commerce Olympiad 2017 Class XII Sample Question Paper : Delhi Public School Noida
Name of the Organisation : Delhi Public School, Noida
Name of the Exam : International Commerce Olympiad – 2017
Document Type : Sample Question Paper
Category : Class XII
Website : http://dpsnoida.in/session-information/international-commerce-olympiad-2016/
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DPS Noida XII Commerce Olympiad Paper
Part – I :
Accountancy
1. If a fixed amount is withdrawn at the beginning of every two months of a calendar year, the interest on total amount of drawings will be calculated for an average period of __
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(a) 7 months
(b) 6.5 months
(c) 8 months
(d) 7.5 months
Ans : A
2. P, Q and R were partners in a firm sharing profits and losses in the ratio of 5:3:2 respectively with the capital of P-`2,50,000 , Q- `2,50,000 and R -`1,25,000. Q declared to retire from the firm and balance in reserve on that date was `25,000. If goodwill of the firm was valued at `1,00,000 and profit on revaluation was`20,000, then what amount will be transferred to the loan account of Q.
(a) `2,06,500
(b) `2,93,500
(c) `2,86,000
(d) `43,500.
Ans : B
3. Ms. Vidushi was to get 5% commission of net cash realised. All assets sold for `3,00,000, All liabilities paid`70,000, Realisation expenses paid `20,000. Following journal entry will be passed for the above:
(a) Debit Realisation A/c and Credit Vidushi`10,000
(b) Debit Realisation A/c and Credit Cash `10,000
(c) Debit Realisation A/c and Credit Vidushi`10,500
(d) Debit Vidushi and Credit Cash `10,500
Ans : C
4. Max India Ltd. was registered with an authorised capital of `1,00,00,000 divided into 1,00,000 equity shares of`100 each. The company offered for public subscription 60,000 equity shares at a premium of `10 per share. Applications for 55,000 shares were received and allotment was made to all the applicants. All calls were made and duly received except the second and final call of `20 per share on 500 shares. Out of these 250 shares are reissued at par. Calculate the amount of share capital to be shown in Balance Sheet.
(a) `54,95,000
(b) `55,00,000
(c) `54,75,000
(d) `54,50,000
Ans : A
5. When a Public limited company proposes to increase its subscribed capital, it is required to offer the shares to promoters, venture capitalists, financial institutions etc. at a pre-decided price. Such an issue is termed as:
(a) Preferential Allotment
(b) Private Placement of Shares
(c) Rights Issue
(d) Issue of Bonus shares
Ans : A
6. AB Ltd. has issued 10,000 8% debentures of `100 each on 1st July, 2014. The company decided to redeem half of its debentures at 10% premium on 30th June 2018. There was a balance of `2,40,000 in Debenture Redemption Reserve. As per SEBI guidelines how much more amount is required to be transferred to Debenture Redemption Reserve account and how much amount to be invested in Debenture Redemption Investments, assuming that company wishes to maintain the minimum criteria..
(a) DRR `10,000, DRI `75,000
(b) DRR `2,50,000, DRI `1,50,000
(c) DRR `2,60,000, DRI `75,0000
(d) DRR `2,40,000, DRI `1,50,000
Ans : A
7. Which is not a part of Inventory as per schedule III (Part -1) of Balance sheet as per Companies Act 2013?
(a) Finished Goods
(b) Capital work in progress
(c) Loose tools stores and spares
(d) Raw Material
Ans : B
8. The Interest coverage ratio from the following information will be : Capital Employed `5,00,000 Equity `3,00,000 Profit before tax `2,10,000 Company has taken long term loan @ 15% p.a. interest charge
(a) 9 Times
(b) 8 Times
(c) 7 Times
(d) 5 Times
Ans : B
9. X and Y are partners sharing profits in 3:2. Mr. Z is admitted for 1/5th share for which he brings `5,000 as premium in cash. The entire premium is credited to X capital account. The new profit sharing ratio of X, Y and Z will be:
(a) 2:2:1
(b) 3:2:1
(c) 2:1:1
(d) 5:3:2
Ans : A
10. On dissolution of a firm, all assets are transferred to realization account at ________
(a) Cost Price
(b) Market value
(c) Realisable Value
(d) Book value
Ans : D
Part – II :
Business Studies
14. During the recent visit of PM NarenderModi in Facebook?s Office, he observed that all 10,000 employees are working at the same level. Which principle of management is being violated here?
(a) Centralisation and Decentralisation
(b) Equity
(c) Scalar Chain
(d) Authority and Responsibility
Ans : C
15. Bill Gates, the founder of Microsoft empowered his subordinates to innovate in products, process, markets and always involved them in decision making. Which style of leadership does Bill Gates follow?
(a) Autocratic Leadership
(b) Democratic Leadership
(c) Laissez-faire Leadership
(d) Directive Leadership
Ans : B
16. ______(I)_________ is a statement of expected results expressed in numerical terms and ____(ii) ______ are the ends that the management seeks to achieve by its operations. Fill in the blanks as:
(a) (i) Objective and (ii) Policy
(b) (i) Budget and (ii) Objectives
(c) (i) Policy and (ii) Objectives
(d) (i) Budget and (ii) Programmes
Ans : B
17. Mr. Neeraj in a meeting said, “I am having problems with knowing the exact requirement of people in my department. I also have to coordinate with other departmental heads to know their requirements” At which level of management is Mr. Neeraj working?
(a) Supervisory level of Management
(b) Operative level of Management
(c) Middle level of Management
(d) Top level of Management
Ans : C
18. The marketing head of ABC Ltd. has been asked to report to the CEO of the company. Under which step in the process of organising, will the above act fall?
(a) Departmentalisation
(b) Identification and Division of Work
(c) Establishing Reporting Relationships
(d) Assignment of Duties
Ans : C
19. The Reserve Bank of India changes the Cash Reserve Ratio from time to time, which in turn affects the amount of funds available to be given as loans by commercial banks. Which market and the concerned security is being referred to in the above statement?
(a) Capital Market, Equity
(b) Primary Market, Debt
(c) Money Market, Call Money
(d) Secondary Market, Debt
. Ans : C
20. “He has given certain principles/ techniques which help in increasing workers? efficiency” Identify “HE” in the above statement?
(a) Philips Kotler
(b) Abraham Maslow
(c) F. W. Taylor
(d) Henri Fayol
Ans : C
Part – III
Business Awareness
28. Who among the following has been appointed as Ambassador For “SKILL INDIA” ?
(a) Amitabh Bachan
(b) Sachin Tendulkar
(c) ViratKohli
(d) Aamir Khan
Ans : B
29. Which of these companies have decided to merge with Aircel to create 4th largest telecom Services?
(a) Vodafone India
(b) Tata Teleservices
(c) Reliance Communication
(d) BhartiAirtel Ltd
Ans : C
30. Which of these famous Personalities has written the book “Citizen and Society” ?
(a) Pranab Mukherjee
(b) SushmaSwaraj
(c) Mohammad Hamid Ansari
(d) Manmohan Singh
Ans : C
31. Who is the chairperson of State Bank of India ?
(a) ShobhanaBhartia
(b) KiranMazumdar Shaw
(c) ArundhatiBhattacharya
(d) Chanda Kochhar
Ans : C
Part – IV
Logical Ability & Reasoning
32. What are the next Terms of the following series? 7, 16, 9, 15, 11, 14, ?, ?
(a) 10, 13
(b) 13, 13
(c) 12, 16
(d) 11,16
Ans. B
33. Today is Thursday. The day after 59 days will be?
(a) Sunday
(b) Monday
(c) Tuesday
(d) Wednesday
Ans. B
34. Reena is taller than Bina, but shorter than Aditi. Anu is shorter than Bina but taller than Manju. Ekta is taller than Reena but shorter than Aditi. Who among them is the tallest?
(a) Aditi
(b) Anu
(c) Bina
(d) Manju
Ans. A