Free Printable QUIZCOM 2020 : ROUND 2

1.

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

a)

Primary market

b)

Secondary market

c)

Capital market

d)

Money market

2.

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?

a)

700,000

b)

1,200,000

c)

1,300,000

d)

200,000

3.

Which item does not cause any business risk?

a)

Breakdown of machinery

b)

Efficient management

c)

Riot

d)

Changing government policy

4.

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

a)

Substitutions effect Negative

Income effect Positive

Price Negative

b)

Substitutions effect Negative

Income effect Negative

Price Positive

c)

Substitutions effect Positive

Income effect Negative

Price Positive

d)

Substitutions effect Negative

Income effect Positive

Price Negative

5.

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?

a)

10

b)

5

c)

15

d)

20

6.

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?

a)

Building A/C Dr. Rs. 200,000

Revaluation A/C Cr. Rs. 200,000

b)

Building A/C Dr. 200,000

Revaluation A/C Cr. 120,000

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

c)

Building A/C Dr. 200,000

Revaluation A/C Cr. Rs. 80,000

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

d)

Profit and loss A/C Dr. 120,000

Building A/C Cr. 120,000

7.

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.

a)

15

b)

12.50

c)

17.50

d)

10

8.

The following is not an objective of management

a)

Earning projects

b)

Growth of the organization

c)

Providing employment

d)

Policy making

9.

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?

a)

72000

b)

70800

c)

71880

d)

72880

10.

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

a)

Monetary policy

b)

Income policy

c)

Fiscal policy

d)

Legal policy

11.

Following information is relevant to an open economy with the government. (All values are in Rs. millions)

GDP= 5000

Gross domestic capital formation= 1800

Exports (X)= 700

Imports (M) = 1600

Savings held by government = 300

Investment = 900

Find the factor endowment and savings held by the public?

a)

a) 5700, 600

b)

a) 5900, 900

c)

a) 6600, 600

d)

a) 3400, 500

12.

Who is the father of modern management?

a)

Henri Fayol

b)

F.W. Taylor

c)

Peter. F. Drucker

d)

Elbert Einstein

13.

In Sarah’s business there was a debtor balance of Rs. 50,000 for the year ended 31.12.2019. Bad debts of Rs. 12,000 should be written off and 10% doubtful debts should be charged from the remaining balance of debtors. Provision for doubtful debts charged for the previous year was Rs. 5000. How much is the doubtful debts that should be charged to the profit and loss account for the year ended 31.12.2019?

a)

Under provision of Rs.1200

b)

Under provision of Rs. 3800

c)

Over provision of Rs. 1200

d)

Over provision of Rs. 5000

14.

Following information is related to Country ‘B”. Nominal interest rate = 18%

Price level Real GDP

2017 100 1000

2018 109 1200

Base year is 2017

What is the real interest rate of country ‘B”?

a)

3%

b)

0.9%

c)

9%

d)

4.5%

15.

Which of the following is most likely to be a barrier to effective communication between workers?

a)

De-stocking

b)

Poor customer service

c)

Pressure groups

d)

Use of jargon

16.

Which day is celebrated as the world computer literacy day?

a)

December 5

b)

December 2

c)

November 18

d)

March 23

17.

This is the slogan of which brand?

“Make Believe”

a)

Nike

b)

Microsoft

c)

Sony

d)

YouTube

18.

Which IT company is named as “The Big Blue”?

a)

Microsoft

b)

Intel

c)

Dell

d)

IBM

19.

1. While delegating, a superior delegates,

a)

Only authority

b)

Authority and responsibility

c)

Authority, responsibility and accountability

d)

Authority and responsibility but not accountability

20.

The Sri Lankan government has currently introduced a price ceiling on rice. Which of the followings will help to minimize the deadweight loss under this price control policy.

a)

Import

b)

Providing incentive for the producer

c)

Rationing

d)

Black market price

QUIZCOM 2020 : ROUND 2

Total questions: 20

Worksheet time: 30mins

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