Commerce Dada

 181) From the following which is a loss due to fire  a) Loss of asset  b) Loss of profit  c) Both a and b  d) None  182) In which year insurance began in India  a) 1870  b) 1818  c) 1897  d) 1896  183) An insurance policy will be only if ___________is paid   a) Policy  b) Premium  c) Document  d) None  184) ___________ is the total premium that a policy holder pays  a) Gross premium  b) Average premium  c) Total premium  d) Level premium  185) The time frame for which an insurance policy provides coverage is known as___________________  a) Policy term  b) Policy loan  c) Policy mode  d) None  186) Intimation of death is the information of death to the________________  a) Beneficiary  b) Insurer  c) Both A&B  d) None  187) _________ is a form of health insurance against loss by a accidental bodily injury  a) Property in...

 161) A fire policy containing an average clause is___________________  a) Valued policy  b) Average policy  c) Specific policy  d) Floating policy  162) A policy causes loss on goods which are laying in different places  a) Specific  b) Declaration  c) Replacement  d) Floating  163) Property insurance may not include_______________  a) Burglary  b) Fidelity  c) Insolvency  d) Sickness  164) _______is a contract against injury or death resulting from accident  a) Property insurance  b) Liability Insurance  c) Personal accident insurance  d) None of these  165) Motor vehicle insurance begin in ________________  a) UK  b) USA  c) India  d) Japan  166) The person whose risk is insured is called ________________  a) Assured  b) Insured  c) Under writer  d) Both A & B  167) In marine insurance insurable interest is enough at the time o...

 141. ______ audit is the process of evaluating a firm’s various operating procedures, code of conduct, and other factors to determine its effect on the society.  a) Cost audit  b) Performance audit  c) Social audit  d) Tax audit  142. ______ is an audit based on ownership  a) Financial audit  b) Secretarial audit  c) Trust audit  d) None of the above  143. ______ is a method of obtaining audit evidence.  a) Observation  b) Inspection  c) Computation  d) All of the above  144. _______ determine whether the layout satisfies certain rules specified by the fabrication team  a) Logical Equivalence Checking  b) Design Rule Check  c) Layout Versus Schematic  d) None of the above  145. ______ is a type of voucher.  a) Template voucher  b) Adjustment voucher  c) Reversal voucher  d) All of the above  146. ______ is a method of valuing the assts on the basis of purc...

 121. Which among the following is not a function of the auditor?  a) Checking errors and frauds  b) Vouching with original documents  c) Preparing final Accounts  d) Both a&b  122. The scope of auditing does not cover.  a) Vouching  b) Checking arithmetical accuracy  c) Ledger posting  123. Which among the following is an example of intangible asset?  a) Goodwill  b) Patents  c) All of these  d) None of the above  124. Investigation is required when  a) Fraud is suspected in business  b) On acquisition of running business  c) All of them  125. Preliminary expanses not written off are treated as  a) Fixed assets  b) Intangible assets  c) Fictitious assets  d) None of the above  126. A fixed audit programme is also called a _____ programme  a) Tailor made  b) Man made  c) Auditor made  d) Skeleton   127. A progressive audit programme is...

 101. Joint audit implies  a) Audit of two concerns together  b) Audit of joint stock companies  c) Audit of joint sector companies  d) Audit by two firms of C.A  102. Systems audit implies  a) Systematic examination of accounts  b) Audit undertaken to improve auditing systems  c) Enquiring accounting and control systems  d) Checking the performance of management  103. Internal check is carried on by  a) Special staff  b) Internal auditor  c) Accountant  d) None of the above  104. Errors of omission are  a) Technical errors  b) Error of principle  c) Compensating errors  d) None of the above  105. Payment for goods purchased should be vouched with the help of   a) Creditors statement  b) Correspondence with suppliers  c) Cash memos  d) Ledger accounts  106. Investment should be vouched with the help of  a) Commission book  b) Brokers book ...

 81) Acts done honestly is called the acts done  a) Without negligence  b) Rashly  c) Mollified  d) In good faith  82) Mere signature of the payee on the reverse of the instrument is called ___________endorsement  a) Full  b) Blank  c) Conditional  d) Restrictive  83) “ Sans resource” means________________  a) I am not afraid  b) Do not touch me  c) Ask the drawer  d) Without liability to me  84) Garnishee order is issued by__________  a) Police officer  b) Revenue Authority  c) Enforcement Authority  d) Court of law  85) Mandate is-----------------  a) Stamped agreement  b) Order of the court of law  c) Memorandum of understanding  d) Stamped documents  86) Reserve bank was constituted under   a) BR act  b) RBI act  c) Companies act  d) Income Tax act  87) Banking companies are licensed by _______________  a) Reserve bank...

  B.Com 1st Semester Fundamentals of management and life skills question paper 2023