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Name of the Organisation : The Institute of Company Secretaries of India ICSI
Name of the Exam : International Company Secretaries Olympiad
Document Type : Sample Question Paper
Category : classes 11 and 12
Website : http://www.csolympiad.info
Download Question Paper :
CLASS 11 : https://www.pdfquestion.in/uploads/22810-Class-11.pdf
CLASS 12 : https://www.pdfquestion.in/uploads/22810-Class-12.pdf

CSO ICSI Company Secretaries Olympiad

** The International Company Secretaries Olympiad is open to the students of classes 11 and 12. Students from Science, Commerce & Humanities stream may participate in the ICSO.

Related : Delhi Public School Noida International Environment Olympiad Class XII Sample Paper : www.pdfquestion.in/22806.html

** Prospectus containing the Registration forms are sent to all schools registered with SOF. Schools not registered may also request for prospectus by sending an e-mail at info AT sofworld.org

Question Pattern

The International Company Secretaries Olympiad is a single level exam :
The test is organized in the respective schools of the participants during school hours.
(i) The Olympiad is a written objective-type test of 60 minutes duration comprising 50 objective-type (Multiple Choice) questions for class11 & class 12.
(ii) The question paper consists of :

(iii) There are separate question papers for each class.
(iv) The medium of the test is English.

ICSO Sample Papers

Class XI

Quantitative aptitude & reasoning :
1. In a group of 80 employees, the number of employees who are engineers is twice that of the employees who are MBAs. The number of employees who are not engineers is 32 and that of those who are not MBAs is 56. The number of employees who are both engineers andMBAs is twice that of the employees who are only MBAs. How many employees are neither engineer (B. Tech) nor MBAs?
(A) 24
(B) 38
(C) 36
(D) 22

2. In a lottery of 100 tickets numbered 1 to 100, two tickets are drawn simultaneously. Find the probability that both the tickets drawn have prime numbers.
(A) 2/33
(B) 7/50
(C) 7/20
(D) 5/66

3. P, Q, R, S and T competed at the Delhi half marathon, and ranked first through fifth. The following is the conversation recorded after the marathon:
P : “I was not last”
Q : “R got the bronze”
R : “P ended behind T”
S : “T got silver”
T : “S didn’t get gold”
It is also given that the 1st, 2nd and 3rd rankers won the Gold, Silver and Bronze medals respectively. The gold and silver medalists lied, but the other three told the truth. Who among the following won the gold medal?
(A) P
(B) Q
(C) T
(D) Can’t be determined

Economics :
4. In 1991, the share of foreign equity participation was increased and in many activities 100 per cent Foreign Direct Investment (FDI) was permitted. Identify the reform.
(A) Liberalisation
(B) Privatisation
(C) Globalisation
(D) Both A & C

5. The mean of 9 observations is 16. One more observation is included and the new mean becomes 17. The 10th observation is
(A) 18
(B) 26
(C) 30
(D) 7

6. Which policy was associated in increasing the interest of the cultivators to earn more incentive?
(A) Tillers to the land
(B) Incentives of the land
(C) Land to the tillers
(D) Incentives to the cultivators

Business Studies :
7. A, B and C started business in partnership. They also have a partnership deed, but it is not registered. They sold goods worth ` 5000 to Mr. D on 30 days credit. Even after passing 90 days, D has not paid the amount due. What may be the consequences?
(A) In case of dispute, A cannot file a suit against B and C.
(B) The firm cannot file a suit against Mr. D.
(C) Both (A) and (B)
(D) None of these

8. Which of the following tea brand does not belong to Unilever Group?
(A) Brookbond
(B) Tetley
(C) Lipton
(D) Red Label

9. Which of the following is not the characteristic of a public company?
(A) Separate legal entity
(B) Perpetual succession
(C) Non-transferable shares
(D) A common seal

Accountancy :
10. Furniture of the book value of ` 10,000 were sold off at ` 2500 and new furniture of the value of ` 6000 were acquired. Cartage on purchase of furniture is ` 50. Identify the nature of this transaction.
(A) Capital expenditure
(B) Revenue expenditure
(C) Capital and revenue expenditure
(D) None of these

11. The opening balance of Prize Fund was ` 32,800. During the year, donations received towards this fund amounted to ` 15,400, amount spent on prizes was ` 12,300 and interest received on prize fund investment was ` 4,000. The closing balance of prize fund will be
(A) ` 39,900
(B) ` 31,900
(C) ` 64,500
(D) ` 56,500.

12. Which of the following pairs are correctly matched?
1. Provision for doubtful debts-Prudence concept.
2. Business entity-Accounting standard
3. Going concern-Assumption
4. Capital-Drawings
Select the correct answer using the codes below.
(A) 1, 2, 3
(B) 2, 3, 4
(C) 1, 2, 4
(D) 1, 3, 4

Achievers Section :
13. Which of the following statements is true?
(A) Accounting encompasses all the functions of accountancy and book keeping.
(B) Book keeping encompasses all the functions of accounting and accounting principles.
(C) Accountancy encompasses all of the functions of accounting and book keeping.
(D) None of these

14. Which of the following is not a business activity?
(A) Sale/purchase of timer
(B) Cultivating land
(C) Publishing
(D) Worshipping God

15. What do you mean by globalisation?
(A) Integration of the various economies of the world leading towards the emergence of a cohesive global economy.
(B) Involves an increased level of interaction and interdependence among the various nations of the global economy
(C) Both (A) and (B)
(D) None of these

Answers :
ICSO :
1. (A)
2. (A)
3. (B)
4. (D)
5. (B)
6. (C)
7. (C)
8. (B)
9. (C)
10. (C)
11. (B)
12. (D)
13. (C)
14. (D)
15. (C)

Class XII

Quantitative Aptitude & Reasoning :
1. A die is thrown twice and the sum of the numbers appearing is observed to be 9. What is the conditional probability that the number 4 has appeared atleast once?
(A) 1/2
(B) 2/3
(C) 3/4
(D) None of these

2. Divide 20 into four parts which are in A.P. and such that the product of the first and fourth is to the product of the second and third in the ratio 2:3. Find the product of the first and fourth terms of the A.P.
(A) 12
(B) 16
(C) 20
(D) 25

3. Mehul went to the market and bought a few apples, mangoes and bananas. He bought a total of 42 fruits. The details of the fruitspurchased is as follows :
(i) The number of bananas is less than half the number of apples.
(ii) The number of mangoes is more than 1/3rd the number of apples.
(iii) The number of mangoes is less then 3/4th the number of bananas.
How many apples and mangoes did Mehul buy?
(A) 17
(B) 21
(C) 26
(D) None of these

Economics :
4. A consumer buys 17 units of a good at a price ` 10 per unit. When price falls to ` 8 per unit, the consumer buys 23 units. Using the expenditureapproach, what will you say about price elasticity of demand of the good?
(A) More than unit elastic
(B) Less than unit elastic
(C) Unit elastic
(D) Perfectly elastic

5. Why externalities are a limitation of taking GDP as an index of welfare?
(A) It helps GDP to rise.
(B) GDP fails to value the cost of such factors.
(C) It results in a decrease in GDP.
(D) It will have no effect on GDP.

6. From the following data about government, find revenue deficit, fiscal deficit and primary deficit :
Plan capital expenditure = 120
Revenue expenditure = 100
Non plan capital expenditure = 80
Revenue receipts = 70
Capital receipts net of borrowings = 140
Interest payments = 30
(A) Revenue deficit = 40, fiscal deficit = 90, primary deficit = 60
(B) Revenue deficit = 30, fiscal deficit = 90, primary deficit = 60
(C) Revenue deficit = 40, fiscal deficit = 60, primary deficit = 30
(D) Revenue deficit = 30, fiscal deficit = 60, Primary deficit = 30

Business Studies :
7. Management is a process of
(A) getting things done
(B) achieving goals effectively
(C) achieving goals efficiently
(D) all of the above

8. The principles of management are significant because of
(A) increase in efficiency
(B) initiative
(C) optimum utilization of resources
(D) adaptation to changing technology

9. Planning may not guarantee success because
(A) top level plans and middle level management implements
(B) dynamics of business, environment may change
(C) planning is futuristic
(D) all of the above

Accountancy :
10. X, Y and Z are partners sharing profit in the ratio of 5 : 3 : 2. They decide to share future profits in the ratio of 2 : 3 : 5 with effect from 1st April, 2016. They also decide to record the effect of following revaluations without affecting the book values of assets and liabilities, by passing single
adjusting entry :
Book Revised Figure (in `) Figure (in `)
Land and Building 3,00,000 4,50,000
Plant and Machinery 4,50,000 4,20,000
Trade Creditors 1,50,000 1,35,000
Outstanding Rent 1,35,000 1,80,000
The necessary single adjusting entry will be :
(A) Dr. Z and Cr. X by ` 27,000
(B) Dr. X and Cr. Z by ` 27,000
(C) Dr. Y and Cr. X by ` 27,000
(D) Dr. X and Cr. Y by ` 27,000

11. M Ltd issued 10,000 shares of ` 50 each. The amount of share was payable as follows : `
15, on application, ` 10 on allotment and balance of first and final call. Applications for 15,000 shares were received and allotment was made to all the applicants of pro-rata basis. Directors decided to adjust excess application money towards allotment. Calculate the amount transferred to Share Allotment.
(A) ` 60,000
(B) ` 70,000
(C) ` 85,000
(D) None of these

12. Depreciation is charged on
(A) Current Assets
(B) Fixed Assets
(C) Both Current and Fixed Assets
(D) None of these

Achievers Section :
13. From the following information, calculate return on investment (or return on capital employed) :
Particulars `
Share Capital 5,00,000
Reserves and Surplus 2,50,000
Net Fixed Assets 22,52,000
Non-current Trade Investments 2,50,000
Current Assets 11,00,000
10% Long-term Borrowings 20,00,000
Current Liabilities 8,50,000
Long-term Provisions NiL
Net Profit before Tax is ` 6,00,000.
(A) 29.09%
(B) 39.09%
(C) 49.09%
(D) 9.09%

14. Liberalisation means
(A) Integration among economies
(B) Reduced government controls and restrictions
(C) Policy of planned Disinvestments
(D) None of these

15. Explain how the production possibility curve is affected when resources are inefficiently employed in an economy?
(A) PPC will shift downward.
(B) PPC will shift upward.
(C) No change in PPC.
(D) Will move from one point to another on the same PPC.

Answers  :
ICSO :
1. (A)
2. (B)
3. (D)
4. (A)
5. (B)
6. (D)
7. (D)
8. (A)
9. (B)
10. (C)
11. (D)
12. (B)
13. (A)
14. (B)
15. (C)