Chandigarh University Common Entrance Test Sample Paper : cucet.cuchd.in

Organisation : Chandigarh University
Exam Name : CUCET Chandigarh University Common Entrance Test
Document Type : Sample Paper
Download Sample /Model Question Paper : https://cucet.cuchd.in/sample-papers.php

CUCHD CUCET Sample Paper

Wondering what a CUCET Examination seems like? The discipline-wise sample papers below will guide you with the knowledge of what to expect.

CUCHD CUCET Accountancy Sample Paper

1.Financial statements are prepared:
** Only for publicly owned business organizations.
** For corporations, but not for sole proprietorships or partnerships.
** Primarily for the benefit of persons outside of the business organization.
** In either monetary or nonmonetary terms, depending upon the need of the decision maker.

2.The basic purpose of an accounting system is to:
** Develop financial statements in conformity with generally accepted accounting principles.
** Provide as much useful information to decision makers as possible, regardless of cost.
** Record changes in the financial position of an organization by applying the concepts of double-entry accounting.
** Meet an organization’s need for accounting information as efficiently as possible.

3.Information is cost effective when:
** The information aids management in controlling costs.
** The information is based upon historical costs, rather than upon estimated market values.
** The value of the information exceeds the cost of producing it.
** The information is generated by a computer-based accounting system.

4. Although accounting information is used by a wide variety of external parties, financial reporting is primarily directed toward the information needs of:
** Investors and creditors.
** Government agencies such as the Internal Revenue Service.
** Customers.
** Trade associations and labor unions.

5.All of the following are characteristics of managerial accounting, except:
** Reports are used primarily by insiders rather than by persons outside of the business entity.
** Its purpose is to assist managers in planning and controlling business operations.
** Information must be developed in conformity with generally accepted accounting principles or with income tax regulations.
** Information may be tailored to assist in specific managerial decisions.

6.A complete set of financial statements for Hartman Company, at December 31, 1999, would include each of the following, except:
** Balance sheet as of December 31, 1999.
** Income statement for the year ended December 31, 1999.
** Statement of projected cash flows for 2000.
** Notes containing additional information that is useful in interpreting the financial statements.

7.In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is more likely to:
** Be used by decision makers outside of the business organization.
** Focus upon the operation results of the most recently completed accounting period.
** View the entire organization as the reporting entity.
** Be tailored to the specific needs of an individual decision maker.

8. The nature of an asset is best described as:
** Something with physical form that is valued at cost in the accounting records.
** An economic resource owned by a business and expected to benefit future operations.
** An economic resource representing cash or the right to receive cash in the near future.
** Something owned by a business that has a ready market value.

9. The balance sheet item that represents the resources invested by the owner is:
** Accounts receivable.
** Cash.
** Note payable.
** Owner’s equity.

10. Arguments that the cost principle is not a satisfactory basis for the valuation of assets in financial statements are usually based on:
** The lack of objective evidence to permit verification of cost data.
** Increased availability and capacity of computers.
** Stronger internal control structures.
** Continued inflation.

CUCHD CUCET Economics Sample Paper

1.The curve showing the possibilities of production of desired good is known as:
** Indifference curve
** Production possibility curve
** Revealed preference curve
** Iso-quant curve

2. Which one of the following definition of Economics is associated with the name of Lionel Robbins?
** Welfare definition
** Scarcity definition
** Growth definition
** Wealth definition

3. Which of the following embodies a more widely accepted definition of economics?
** Science of material welfare
** Science of wealth
** A study of mankind in the ordinary business of life
** Science of making choice.

4. The fundamental problem faced by an economy is one of :
** Exchange
** Decision making by the government
** Economic welfare
** Scarcity of resources and multiplicity of wants.

5. State whether Economics is :
** A positive science only
** Neither a positive science
** A science but not art
** A science or an art depending on who uses Economics and for what purpose.

6. Micro economic theory studies how a free enterprise economy determines:
** The Price of goods
** The price of services
** The price of resources
** The price of labour

7. Which of the following is incorrect?
** Microeconomics is concerned primarily with the problem of what, how and for whom to produce
** Microeconomics is concerned primarily with the economic behavior of individual decision making units when at equilibrium
** Microeconomics is concerned primarily with the time path and processes by which one equilibrium position evolves into another
** Microeconomics is concerned primarily with comparative statics rather than dynamics.

8. The meaning of the word ‘economic’ is most closely associated with the word:
** Free
** Scarce
** Unlimited
** Unrestricted

9. Microeconomics studies the decision making behaviour of:
** Society as a whole
** An individual or household
** A group of individuals
** Economy as a whole

10. The subject matter of economics is the study of:
** Wealth
** Welfare
** Scarcity
** Scarcity and Choice