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Kerala Economics Quiz

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

Amala Joseph's family ordered a Sadya for 20 people at ₹250 per person. But 10 uninvited relatives showed up (typical Kerala family!). If they ordered 10 more Sadyas at the same rate, what's the cost per person now?

a)

₹250

b)

₹200

c)

₹166.67

d)

₹300

2.

Roshin Thomas's toddy shop has ₹5,000 in the cash box, but all customers pay through Google Pay. His accountant Gokuldas P G says he has great "liquidity." What's wrong here?

a)

Nothing, Google Pay is liquid cash

b)

Liquidity means physical cash availability, not digital payments

c)

Toddy itself is liquid, so no problem

d)

The accountant is drinking the inventory

3.

An auto driver Jithendran S. in Ernakulam bought his vehicle for ₹2 lakhs. After driving in Kerala potholes for 3 years, it's worth ₹80,000. His neighbor Preethy B Menon says, "Pwoli! Your auto depreciated faster than a politician's promise!" What's the annual depreciation rate?

a)

20%

b)

25%

c)

40%

d)

100% (it's Kerala roads!)

4.

Tushar Soubhari's tea shop buys tea powder at ₹400/kg. One kg makes 200 cups. He sells each cup at ₹10. His friend Renjith R asks, "Sahodara, where's your profit?" What's Tushar's gross profit margin?

a)

50%

b)

80%

c)

20%

d)

He's running a charity, no profit

5.

There are 12 hartals scheduled in a quarter (very conservative estimate!). Each harthal costs Sudheesh Kumar K.'s grocery shop ₹8,000 in lost sales. What's his quarterly harthal loss provision?

a)

₹96,000

b)

"Calculations vendallo, harthal und!"

c)

₹1,00,000

d)

Priceless (lost mental peace)

6.

Rajasree P S mortgaged her 50-sovereign gold at a nationalized bank. Her daughter bought a new iPhone. Her son is getting MBA admission. Her husband needs bypass surgery. Which is the REAL reason she took the loan according to her neighbors Sheeba Joseph and Neethu Jose?

a)

Medical emergency

b)

Education

c)

Show-off daughter's iPhone

d)

Probably building another floor on the house

7.

Price of coconut in January: ₹25. Price in June: ₹45. Farmer Chiranjeevi V. B. complains he's getting nothing. Trader Manohar B complains margins are thin. Consumer Denny Thomas says it's expensive. Who's lying?

a)

Chiranjeevi

b)

Manohar

c)

Denny

d)

Nobody - there are 12 middlemen we didn't count

8.

Tom Antony in Dubai sends ₹50,000 monthly. His family's monthly expenses are ₹30,000. After one year, savings should be ₹2,40,000. Actual savings: ₹20,000. His CA Remya P. D. investigates. What happened?

a)

Bank fraud

b)

Calculation error

c)

"Unexpected" festivals, weddings, medical emergencies (all relatives)

d)

His mother's "chit" investments

9.

Government employee Samna M gets Onam advance in August. She borrowed ₹50,000 from a moneylender in July at 3% monthly interest to "prepare for Onam early." She'll repay in August with her advance. Her colleague Shiny V. N. asks if this is financially smart?

a)

Yes, early bird gets the Sadya

b)

No, paying ₹1,500 interest to get advance by one month

c)

Yes, neighbors will see decorations first

d)

Financially stupid, but socially necessary

10.

Anantha Padmanaban S pays professional tax, income tax, GST, road tax, property tax, and entertainment tax. He asks his CA Thanseena Bai R, "How many more taxes can they invent?" She replies:

a)

"Don't give them ideas!"

b)

"At least 15 more potential taxes"

c)

"They're working on breathing tax"

d)

"Just be happy there's no tax on complaining yet"

11.

Sanu Varghese is reviewing Deepak Verma's accounts. Hemalatha M. prepared the trial balance. Hindhumathi A did the bank reconciliation. Meenu handled the inventory. Palak Kanojia managed receivables. Saran Manoj was the internal auditor. The accounts don't match. Who should Sanu interrogate first?

a)

Everyone - it's a team conspiracy

b)

Saran Manoj - internal auditor should have caught it

c)

Start with bank reconciliation - it's always the banks!

d)

Himself - for accepting this assignment