QUIZCOM 2020 : ROUND 2

It is a market for short-term funds which deals in monetary assets whose period of maturity is up to one year.

• Primary market

• Secondary market

• Capital market

• Money market

A piece of land which was purchased for Rs. 1,200,000 was revalued for the 1^st time on 31.03.2017 and was revalued for the 2^nd time on 31.03.2018. The carrying amount of that piece of land after the 2^nd revaluation was 2,000,000. The revaluation gain generated from the 2^nd revaluation was Rs. 700,000.

What is the value at which this land had been revalued for the first time?

• 700,000

• 1,200,000

• 1,300,000

• 200,000

Which item does not cause any business risk?

• Breakdown of machinery

• Efficient management

• Riot

• Changing government policy

When price of a normal good increases the operation of the price effect is,

• Substitutions effect Negative

  
  

  Income effect Positive

  Price Negative

• Substitutions effect Negative

  Income effect Negative

  Price Positive

• Substitutions effect Positive

  Income effect Negative

  Price Positive

• Substitutions effect Negative

  Income effect Positive

  
  

  Price Negative

Followings are the demand and supply functions of good ‘X’?

Qs= -100+10p

Qd= 200-5p

The government has imposed a Rs.5 unit tax on materials of given product. What is the minimum average variable cost of the given product?

• 10

• 5

• 15

• 20

Sunil PLC revalued its buildings on 31.03.2018 at Rs. 800,000 which had a carrying value of Rs. 600,000 on the same date. A revaluation loss on buildings of Rs. 120,000 was recognised during the previous year.

What is the most suitable answer that depicts the entry for the above adjustment for the year ending 31.03.2018?

• Building A/C Dr. Rs. 200,000

  Revaluation A/C Cr. Rs. 200,000

• Building A/C Dr. 200,000

  Revaluation A/C Cr. 120,000

  Profit and loss A/C Cr. Rs. 80,000

• Building A/C Dr. 200,000

  Revaluation A/C Cr. Rs. 80,000

  Profit and loss A/C Cr. Rs, 120,000

• Profit and loss A/C Dr. 120,000

  Building A/C Cr. 120,000

When the quantity of a product is 20, the average variable cost is Rs. 10. Total cost is Rs. 1000. When units are increased to 30, the marginal cost is Rs. 10.

At 30 units, what should be the average variable cost.

• 15

• 12.50

• 17.50

• 10

The following is not an objective of management

• Earning projects

• Growth of the organization

• Providing employment

• Policy making

Number of members in a sports club on 31^st December 2016 were 300. Monthly subscription per member is Rs. 20.

Balance as at 01.01.2016 were, subscription in arrears- four members for two months and six members for one month and subscription received in advance- eight members for two months and six members for one month.

Balance as at 31.12.2016 were, Subscription in arrears- five members for two months and subscription received in advance- twelve members for one month.

How much is the cash received from subscription for the year ended 31.12.2016?

• 72000

• 70800

• 71880

• 72880

Which of the following is not used as a strategy of macroeconomic management?

• Monetary policy

• Income policy

• Fiscal policy

• Legal policy