Previous Year Question Paper for FCI Management Trainee

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FCI Management Trainee (General/Depot) Exam Paper
1. Who of the following brought the Sikh Kingdom of Punjab under direct British rule
by an official proclamation?
(A) Lord Hastings
(B) Lord Cornwallis
(C) Lord Minto
(D) Lord Dalhousie
Ans. (D)
2. India is comparatively not rich in which one of the following minerals compared to the other three?
(A) Bauxite
(B) Copper
(C) Iron
(D) Manganese
Ans. (B)
3. Among the following, which one has recorded the highest population growth rate during 1991-2001?
(A) Arunachal Pradesh
(B) Manipur
(C) Nagaland
(D) Sikkim
Ans. (C)
4. In which one of the following regions does the Indus river originate?
(A) Laddakh
(B) Lahaul
(C) Nepal
(D) Tibet
Ans. (A)
5. What is the term used to denote the temperature at which the water vapour present in the atmosphere is sufficient to saturate?
(A) Condensation point
(B) Dew point
(C) Sublimation point
(D) Saturation point
Ans. (D)
6. The earth’s reflectivity of solar radiation, termed albedo, is highest in which one of the following?
(A) Cropland
(B) Forest area
(C) Sand desert
(D) Snow area
Ans. (D)
7. Who of the following wrote the book Precepts of Jesus?
(A) Raja Rammohan Roy
(B) Devendranath Tagore
(C) Ishwarchandra Vidyasagar
(D) Keshab Chandra Sen
Ans. (A)
8. Who for the first time saw bacteria through a microscope made by himself?
(A) Anton van Leeuwenhoek
(B) Louis Pasteur
(C) Robert Hooke
(D) Robert Virchow
Ans. (A)
9. Which of the following contain enzymes for cellular respiration?
(A) Dictyosomes
(B) Endoplasmic reticula
(C) Lysosomes
(D) Mitochondria
Ans. (D)
10. To which of the following types of animals are Salamanders closely related ?
(A) Dolphins and Whales
(B) Frogs and Toads
(C) Prawns and Crabs
(D) Seals and Walruses
Ans. (B)
11. Which one of the following statements is correct?
A seed is a ripened —
(A) ovary
(B) flower
(C) gynoecium
(D) ovule
Ans. (D)
12. Historical materialism is a tenet of which one of the following political theories ?
(A) Capitalism
(B) Liberalism
(C) Fascism
(D) Marxism
Ans. (D)
13. What is ‘Look East Policy’ often in the news?
(A) Government of India’s initiative for the infrastructural development in the North Eastern States
(B) India’s search for oil and gas in its Eastern shoreline
(C) India’s collaboration with some East Asian countries in the exploration of oil and gas
(D) India’s continuing pursuit of close relations with South-East Asian countries
Ans. (D)
14. Who of the following published a famous pamphlet known as ‘Right of Mass’ and urged the people in England, America and France to fight for their liberty ?
(A) Thomas Jefferson
(B) Thomas Paine
(C) John Locke
(D) Jean Jacques Rousseau
Ans. (B)
15. Who of the following invented the cotton gin that separates the seeds from cotton three hundred times faster than by hand?
(A) Eli Whitney
(B) George Stephenson
(C) McAdam
(D) James Watt
Ans. (A)
16. Whose duty is it to recommend to the President of India on the issue of the distribution and allocation of the net proceeds of taxes in the context of Centre State fiscal relations ?
(A) Planning Commission
(B) National Development Council
(C) Union Ministry of Finance
(D) Finance Commission
Ans. (D)
17. In the Union Government, under whose charge is the Cabinet Secretariat?
(A) The Minister of Parliamentary Affairs
(B) The President of India
(C) The Prime Minister of India
(D) The Union Home Minister
Ans. (C)
18. Which Five-Year Plan had an objective of “Rapid Industrialization with particular emphasis on development of basic and heavy industries”?
(A) First
(C) Third
(B) Second
(D) Fourth
Ans. (B)
19. Which one of the following is the correct chronological order of the given rulers of ancient India?
(A) Ashoka — Kanishka — Milinda
(B) Milinda — Ashoka — Kanishka
(C) Ashoka — Milinda — Kanishka
(D) Milinda — Kanishka — Ashoka
Ans. (C)
20. Which one of the following is not a disease caused by virus?
(A) Bird-flu
(B) Chickenpox
(C) Cholera
(D) Dengue
Ans. (C)
21. In terms of the evolution of organisms, which one among the following is the most advanced?
(A) Bat
(C) Shark
(B) Pigeon
(D) Vulture
Ans. (A)
22. Which one of the following is not a genetic disorder?
(A) Colour blindness
(B) Down’s syndrome
(C) Hemophilia
(D) Xerophthalmia
Ans. (D)
23. Which one of the following is an enzyme?
(A) Gastrin
(B) Keratin
(C) Trypsin
(D) Vasopressin
Ans. (C)
24. In human body, which one of the following secretes hormones as well as digestive enzymes ?
(A) Oesophagus
(B) Pancreas
(C) Spleen
(D) Large intestine
Ans. (B)
25. In the human body, which of the following store / stores extra blood for release when
shortages occur?
(A) Liver
(B) Pancreas
(C) Spleen
(D) Lymph nodes
Ans. (C)
26. A bullet travelling horizontally hits a block kept at rest on a horizontal surface and gets embedded into it, the two together then move with a uniform velocity. Which one of the following conservation laws holds?
(A) Conservation of angular momentum
(B) Conservation of kinetic energy
(C) Conservation of linear momentum
(D) Conservation of velocity
Ans. (C)
27. Which one of the following is correct?
A negatively charged glass rod has always—
(A) less electrons than protons
(B) less electrons than neutrons
(C) less protons than electrons
(D) less neutrons than protons
Ans. (C)
28. Who among the following was sent by Lord Harding’s to South Africa to plead the cause of Indians led by the young Gandhi?
(A) B. G. Tilak
(B) G. K. Gokhale
(C) M. G. Ranade
(D) Motilal Nehru
Ans. (B)
29. Which one of the following is not a current of North Atlantic Ocean?
(A) Falkland Current
(B) Canary Current
(C) Labrador Current
(D) Gulf Stream
Ans. (A)
30. Which one of the following States does not share boundary with Jharkhand ?
(A) Chattisgarh
(B) Madhya Pradesh
(C) Orissa
(D) Uttar Pradesh
Ans. (B)
31. Through which States does Vamsadhara river flow?
(A) Andhra Pradesh and Chattisgarh only
(B) Chattisgarh and Orissa only
(C) Andhra Pradesh and Orissa only
(D) Andhra Pradesh, Chattisgarh and Orissa
Ans. (C)
32. Whose entry into India resulted in the introduction of maize crop in India?
(A) Dutch
(B) English
(C) French
(D) Portuguese
Ans. (D)
33. The efforts of who of the following led to the “Age of Consent Act, 1891”?
(A) Rabindranath Tagore
(B) M. G. Ranade
(C) Surendra Nath Bannerjee
(D) Mulbari
Ans. (D)
34. What was the name of the party formed by Subhas Chandra Bose after leaving Indian
National Congress?
(A) Congress Socialist Party
(B) Forward Bloc
(C) Indian National Conference
(D) Swaraj Party
Ans. (B)
35. Among the following who was a prominent leader of Khilafat Movement?
(A) Jawaharlal Nehru
(B) Mahatma Gandhi
(C) Rajendra Prasad
(D) Vallabhbhai Patel
Ans. (B)
36. Who was the architect of the ‘Drain Theory’ and the author of the book Poverty and Un-British Rule in India?
(A) Dadabhai Naoroji
(B) Gopal Krishna Gokhale
(C) Abul Kalam Azad
(D) Ramesh Chandra Dutt
Ans. (A)
37. The Civil Disobedience Movement started with which of the following?
(A) No-tax campaign in Bardoli district
(B) Demonstration of Akali Sikhs at Nabha
(C) Demonstration against the Simon Commission
(D) Dandi March
Ans. (D)
38. The most abundant gas in the atmosphere is—
(A) Oxygen
(B) Nitrogen
(C) Hydrogen
(D) Carbon dioxide
Ans. (B)
39. Which dance form are Birju Maharaj and Gopi Krishna renowned for?
(A) Kathak
(B) Chhau
(C) Kathakali
(D) Odissi
Ans. (A)
401. Which is the official language of the Union Territory of Lakshadweep?
(A) Tamil
(B) Marathi
(C) Malayalam
(D) Konkani
Ans. (C)
41. Who is known as the ‘Father of India’s missile programme’?
(A) A.P.J. Abdul Kalam
(B) R. Santhanam
(C) Raja Ramanna
(D) Homi Bhabha
Ans. (A)
42. The birthday of which sportsperson is celebrated as National Sports Day?
(A) Sunil Gavaskar
(B) PT. Usha
(C) Prakash Padukone
(D) Dhyan Chand
Ans. (D)
43. Who among the following holds a record of the fastest 100 test wickets taken by an Indian bowler?
(A) Erapalli Prasanna
(B) Bhagawat Chandrasekhar
(C) Bishan Singh Bedi
(D) Kapil Dev
Ans. (D)
44 In which city were the first Asian Games held?
(A) Bangkok
(B) Kuala Lumpur
(C) New Delhi
(D) Moscow
Ans. (C)
45. The First Five Year Plan covered the period—
(A) 1951-56
(B) 1952-57
(C) 1947-52
(D) 1950-55
Ans. (A)
46. The breadth of the railway broad gauge is approximately—
(A) 1.67m
(B) 1.33m
(C) 2.00m
(D) 1.83m
Ans. (A)
47. Modulation used in a GSM mobile phone is—
(A) PSK
(B) BPSK
(C) MSK
(D) GMSK
Ans. (D)
48. The light in optical fibre cable propagates due to—
(A) Refraction
(B) Diffraction
(C) Total internal reflection
(D) Interference
Ans. (C)
49. When a TV receiver is switched n, the picture comes late, Why ?
(A) Video bandwidth is large
(B) Video signal takes longer to arrive
(C) Electron emission takes time
(D) All of the above.
Ans. (C)
50. Seismograph is used in the study of—
(A) Moon
(B) Earthquake
(C) Floods
(D) Tides
Ans. (B)


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1. According to the concept of conservation, the stock in trade is valued at—
(A) Cost price
(B) Market price
(C) Cost or market price which ever is higher
(D) Cost or market price which ever is lower
Ans. (D)
2. The concept of conservation will have the effect of—
(A) Over statement of assets
(B) Understatement of assets
(C) Understatement of liabilities
(D) Understatement of provision for bad and doubtful debts
Ans. (B)
3. Non-financial information is not recorded in accounts due to—
(A) Accrual concept
(B) Entity concept
(C) Dual aspect concept
(D) Money measurement concept
Ans. (D)
4. Balance in ‘Nazrana’s a/c’ in the books of lessee is shown in—
(A) Landlords a/c
(B) P&L a/c
(C) Balance sheet assets side
(D) Balance sheet liabilities side
Ans. (C)
5. The hire-buyer charges depreciation on—
(A) Cash price of the asset
(B) Hire purchase price of the asset
(C) Higher of the two
(D) Lower of the two
Ans. (A)
6. In hire-purchase system, hire-buyer can maintain his accounts under—
(A) Asset accrued method
(B) Total cash price method
(C) Any of the two methods
(D) None of these
Ans. (C)
7. If the rate of gross profit for department X is 25% of cost, the amount of gross profit on sales of Rs. 100000 will be-—
(A) Rs. 16667
(B) Rs. 20000
(C) Rs. 25000
(D) Rs. 33333
Ans. (B)
8. Provision for bad debts of a foreign branch is converted at—
(A) Opening rate of exchange
(B) Closing rate of exchange
(C) Average rate of exchange
(D) Rate applicable to debtors
Ans. (B)
9. If goods are transferred from ‘X’ department to ‘Y’ department at cost +25%, the amount of stock reserve on closing stock of Rs. 20000 in ‘Y’ department will be—
(A) Rs. 4000
(B) Rs. 5000
(C) Rs. 6000
(D) Rs. 3333
Ans. (A)
10. If out of the bills of Rs. 10000 discounted by the insolvent bills of Rs. 4000 are likely be dishonoured, unsecured creditors will include in respect of them an amount of—
(A) Rs. 10000
(B) Rs.6000
(C) Rs. 4000
(D) None of the above
Ans. (C)
11. Partnership firm engaged in banking business can have maximum—
(A) 5 partners
(B) 10 partners
(C) 20 partners
(D) Any number of partners
Ans. (B)
12. Suppose, the partnership deed provides for a salary of Rs. 5000 p.m. to partner ‘X’. If ‘X’ withdraws only Rs. 3000 in a month, the remaining Rs. 2000 will be—
(A) Debited to his capital a/c
(B) Credited to his drawing a/c
(C) Credited to his current a/c
(D) Credited to P & L adjustment a/c
Ans. (A)
13. In absence of any provisions in the partnership agreement, partners can charge on the loans given by them to the firm—
(A) Interest at 6% p.a.
(B) Interest at 12% p.a.
(C) Interest at 15% p.a.
(D) No interest
Ans. (A)
14. A, B and C are partners sharing profits and losses in the ratio 4 : 3 : 2 D is admitted for 1/10th share, the new ratio will be—
(A) 4 : 4 : 3 : 2
(B) 4: 3 : 2: 1
(C) 5 : 4 : 3 : 2
(D) None of the above
Ans. (B)
15. A and B shared profit in the ratio of 3 : 2 C was admitted as a partner for 1/5th share. He acquires 3/20th from A and 1/20th from B. The new profit sharing ratio would be—
(A) 10:6:4
(B) 6:10:4
(C) 8:8:4
(D) 9:7:4
Ans. (D)
16. Goodwill of a firm of A and B is valued at Rs. 60000. Goodwill appears in the books at Rs. 24000. C is admitted for 1/4th share. He will be required to bring for goodwill—
(A) Rs.21000
(B) Rs.9000
(C) Rs. 15000
(D) Rs. 6000
Ans. (D)
17. A plant worth Rs. 800000 has been insured for Rs. 600000. The loss on account of fire is Rs. 500000. The insurance company under average clause will bear the loss to extent of—
(A) Rs. 500000
(C) Rs. 800000
(B) Rs.600000
(D) Rs. 375000
Ans. (A)
18. It is not an item of Income with reference to a voyage a/c—
(A) Passage money
(B) Freight
(C) Primage
(D) Address commission
Ans. (D)
19. The formats of the profit and loss account and Balance sheet in the case of a banking company have been revised w.e.f.—
(A) 1st April 1949
(B) 1st April 1991
(C) 1st April 1992
(D) 1st April 1956
Ans. (C)
20. If accured outstanding premium is given in the trial balance of a general insurance company, then it will be shown in—
(A) Revenue Account
(B) Balance Sheet
(C) Both revenue Account & Balance Sheet
(D) None of the above
Ans. (B)
21. Inventory is valued at lower of the cost or net realisable value on account of the accounting principle of—
(A) Realisation
(B) Consistency
(C) Conservatism
(D) None of the above
Ans. (A)
22. In the period of rising prices, LIFO method may result in—
(A) Lowering the profit
(B) Raising the profit
(C) Raising the tax liability
(D) None of the above
Ans. (B)
23. Given,
Total assets turnover 4
Net Profits 10%
Total Assets Rs. 50000
Net profit will be—
(A) Rs. 15000
(B) Rs. 10000
(C) Rs. 25000
(D) Rs.20000
Ans. (D)
24. A company auditor addresses his audit report to-
(A) Board of directors
(B) Members
(C) Managing director
(D) Company secretary
Ans. (B)
25. Bonus shares means shares issued to—
(A) Workers
(B) Existing equity shareholders
(C) Preferential shareholders in lieu of dividend
(D) Debenture holders in lieu of interest
Ans. (B)
26. Which of the following does not call for physical verification?
(A) Stock
(B) Plant
(C) Loose tools
(D) Goodwill
Ans. (D)
27. Cash from operations is equal to—
(A) Net profit + increase in current assets
(B) Net profit + decrease in current liabilities
(C) Profit from operation ± Adjustment of increase and decrease in current assets and liabilities
(D) Fund from operation ± Adjustment of increase and decrease in current assets and current liabilities
Ans. (C)
28. Average profit of a firm is Rs. 9000 Firm’s capital is Rs. 60000 and normal return on business is expected at 10%. The goodwill by capitalisation method will be-
(A) Rs. 30000
(B) Rs. 20000
(C) Rs. 25000
(D) Rs. 40000
Ans. (A)
29. Which of the following is not a current liability?
(A) Bank overdraft
(B) Redeemable debentures
(C) Account payable
(D) Provision for bad debts
Ans. (B)
30. Amount of under writing commission payable on the issue of debentures is limited to—
(A) 2%
(B) 2.5%
(C) 3%
(D) 5%
Ans. (B)
31. Which of the following acid test ratio can be said to be satisfactory?
(A) 2: 1
(C) 1: 1
(B) 1: 2
(D) None of these
Ans. (C)
32. The two factor theory of motivation was propounded by—
(A) Peter Drucker
(B) Herzberg
(C) McGregor
(D) Maslow
Ans. (B)
33. Which of the following leadership styles is most commonly found now a day?
(A) Autocratic
(B) Democratic
(C) Free rein
(D) Participative
Ans. (B)
34. Deciding in advance what is to be done in future is called—
(A) Management
(B) Coordination
(C) Planning
(D) Decision-making
Ans. (C)
35. The organisation structure where there is direct vertical relationship is called—
(A) Line organisation
(B) Chain organisation
(C) Command organisation
(D) All the above
Ans. (D)
36. When managers devote their attention only to those events where results are highly deviated from normal; ft is called—
(A) Management by objective
(B) Management by exception
(C) Management by crisis
(D) Management by choice
Ans. (B)
37. Under delegation of authority—
(A) Authority is given to subordinates
(B) Authority flows from top to bottom
(C) Delegator of authority is not received of accountability
(D) All the above happens
Ans. (D)
38. The process of determining by observation and study and reporting pertinent information relating to the nature of specific job is called—
(A) Job specification
(B) Job evaluation
(C) Job analysis
(D) Job description
Ans. (C)
39. In case of a private company—
(A) There is restriction on the right to transfer of shares
(B) The number of members is restricted
(C) Invitation to public for the subscription of shares is prohibited
(D) All of the above
Ans. (D)
40. A person at anyone time can not be DIRECT of more than—
(A) 1 Company
(B) 7 Companies
(C) 15 Companies
(D) 20 Companies
Ans. (C)
41. Certificate of commencement of business is not required by a—
(A) Public company
(B) Any type of company
(C) Private company
(D) Private company subsidiary to a public company
Ans. (C)
42. Henry Fayol is known for—
(A) Scientific management
(B) Rationalisation
(C) Industrial psychology
(D) Principles of managements
Ans. (D)
43. The principle of unity of command’ implies—
(A) Unity of thought and action
(B) Unity amongst subordinates
(C) Instructions from staff authority
(D) Instructions from line authority
Ans. (D)
44. A company has equity capital of Rs. 200000. Preference capital of Rs. 100000, 12% debentures of Rs. 100000, long term loan of Rs. 200000 and short term loan of Rs. 100000. The capital gearing ratio will be—
(A) 1:1
(B) 0.5: 1
(C) 0.4: 1
(D) None of the above
Ans. (C)
45. In case of a company, total assets less outside liabilities is called—
(A) Net working capital
(B) Gross working capital
(C) Deferred liabilities
(D) Net worth
Ans. (D)
46. If opening sales is Rs. 10000 purchases Rs. 30000 direct expenses Rs. 4000 and closing stock Rs. 5000 the costs of goods is sold would be—
(A) Rs. 39000
(B) Rs. 40000
(C) Rs.41000
(D) Rs. 44000
Ans. (A)
47. Premium on issue of shares is shown in balance sheet as—
(A) An asset
(B) A liability
(C) An expense
(D) A revenue
Ans. (B)
48. Which of the following is known as ‘backbone of auditing’?
(A) Verification of assets
(B) Internal check
(C) Vouching
(D) Internal audit
Ans. (C)
49. A limited company? 100 shares of Rs. 10/- cash fully called up on which Rs. 4/- per share was paid up. The company reissued 50 shares at the rates of Rs. 8/- each. The amount transferred to capital reserve will be—
(A) Rs. 500
(B) Rs.200
(C) Rs. 250
(D) Rs. 100
Ans. (D)
50. Sale of long term investments indicates—
(A) A change in current assets
(B) Application of funds
(C) Increase in working capital
(D) Source of funds
Ans. (D)
51. Net working capital refers to—
(A) Current assets
(B) Current assets minus current liabilities
(C) Equity share capital minus fixed assets
(D) Retired earnings.
Ans. (B)
52. If sales Rs. 6000 gross profit is 1/3 on cost, purchases are R. 4900 and the closing stock is Rs. 900, the opening stock will be—
(A) Rs.400
(B) Rs.500
(C) Rs. 1100
(D) Rs. 2000
Ans. (B)
53. The primary objective of audit is—
(A) Detection and prevention of frauds
(B) Detection and prevention of errors
(C) Detection of frauds and errors
(D) To ensure the final accounts and statements exhibit true and fair position of business
Ans. (D)
54. ‘An auditor is a watch dog and not a blood hound’. This was observed in case of— (A) London oil storage company
(B) Kingston cotton Mills Limited
(C) London General Bank
(D) Delightful Cigarette Company Ltd.
Ans. (B)
55. If two or more sugar mills combine together, it is known—
(A) Horizontal combination
(B) Vertical combination
(C) Lateral combination
(D) None of the above
Ans. (A)
56. Surrender value is related to—
(A) Marine insurance
(B) General insurance
(C) Life insurance
(D) Fire insurance
Ans. (C)
57. Over capitalisation refer to—
(A) Excess of capital
(B) Excess rate of dividend payment, on shares
(C) Over estimation of rate of capitalisation
(D) Raising more capital than is warranted by its earning power
Ans. (D)
58. Motivation refers to—
(A) Coordinate the people
(B) Guide the working people
(C) Terrorise the people
(D) Inducing people to work willing by
Ans. (D)
59. Which of the following is not a barrier in communication—
(A) Fear and distrust
(B) Affection
(C) Perception
(D) Noise
Ans. (B)
60. “Management is an art of getting things done through and with formally organised group.” This definition has been by—
(A) Peter Drucker
(B) Henry Fayol
(C) Harod Koontz
(D) F. W. Taylor
Ans. (C)
61. Foreign exchange for import of goods is sanctioned by—
(A) Exim Bank
(B) Reserve Bank of India
(C) State Bank
(D) Ministry of commerce
Ans. (B)
62. The cost of a machine having a span of life of 5 years is Rs. 10000. It has a scrap value of Rs. 1000. The amount of depreciation in the first year under the sum of year’s digit method will be—
(A) Rs. 1600
(B) Rs. 1800
(C) Rs. 2000
(D) Rs. 3000
Ans. (D)
63. Given:
Gross profit Rs. 60000
Gross profit ratio: 20%
Debtor’s velocity 2 months
The amount of debtors will be—
(A) Rs. 30000
(B) Rs. 50000
(C) Rs. 120000
(D) Rs.200000
Ans. (B)
64. Premium on issue of shares can be used for—
(A) Issue of Bonus shares
(B) Payment of Dividends
(C) Payment of operating expenses
(D) Redemption of debentures
Ans. (A)
65. If current ratio is 25, quick ratio (1) 5 and net working capital Rs. 15000. This value of inventory will be—
(A) Rs. 10000
(B) Rs. 15000
(C) Rs. 37500
(D) Rs. 52500
Ans. (A)
66. Unclaimed dividend is shown on the liability side of the balance sheet under the heading—
(A) Revenue and surplus
(B) Provisions
(C) Current liabilities
(D) Miscellaneous items
Ans. (C)
67. Accounting standards in India are prescribed by—
(A) Company Law Board
(B) Institute of charted accountants of India
(C) Institute of coat and works accountants of India
(D) Indian standard Board
Ans. (B)
68. Which of the following is not correct—
(A) Purchase + Opening stock—Cost of goods sold = Closing stock
(B) Opening stock + Purchases — Closing stock = Cost of goods sold
(C) Closing stock + Cost of goods sold — Purchases = Opening stock
(D) Cost of goods sold — Closing stock + Purchases = Opening stock
Ans. (D)
69. A company bought assets worth Rs. 360000 and in lieu issued debentures of Rs. 100 each at a discount of 10%. The number of debentures issued will be—
(A) 3000
(B) 3600
(C) 3960
(D) 400
Ans. (D)
70. A person got insured his goods worth Rs. 10000 for Rs. 80QO against fire. Loss by fire to him was Rs. 9000. He can claim—
(A) Rs. 8000
(B) Rs. 9000
(C) Rs. 10000
(D) Rs. 7200
Ans. (D)
71. The data obtained from a newspaper are—
(A) Primary data
(B) Secondary data
(C) Both (A) and (B)
(D) None of these
Ans. (B)
72. Current Ratio of a firm is 3: 1 and working capital is Rs. 60000. What will be the amount of current Assets—
(A) Rs. 30000
(B) Rs90000
(C) Rs. 120000
(D) Rs. 180000
Ans. (B)
73. The income from that house property is taxable under the head “Income from House property”.
(A) The assessee has ownership on that house
(B) The assessee uses that house for his business
(C) The assessee himself lives in that house
(D) The assessee has let out that house on rent for residence
Ans. (A)
74. Following is the deduction in respect of repair under the head of income from house property—
(A) 25% of Annual Value
(B) 30% of Net Annual Value
(C) 1/5 of Annual Value
(D) 1/5 of Net Annual Value
Ans. (B)
75. Single entry system can not be maintained by—
(A) Sole proprietorship
(B) Partnership concerns
(C) Joint stock company
(D) All of these
Ans. (D)
76. Cash account will not be affected by—
(A) Cash paid to creditors
(B) Discount received
(C) Cash sales
(D) Cash received from debtors
Ans. (B)
77. Maximum standard Deduction for employees getting gross salary not more than Rs.
100000 is allowed—
(A) Rs. 20000
(B) Rs. 25000
(C) Rs. 30000
(D) Rs. 33000
Ans. (C)
78. Tax audit is compulsory in case of a person carrying on business whose gross receipt) turnover/sales and exceeds—
(A) Rs. 50 Lakhs
(B) Rs. 40 Lakhs
(C) Rs. l0 Lakhs
(D) Rs. 25 Lakhs
Ans. (B)
79. Mr. Rastogi of Meerut was declared insolvent. One of his liabilities related to one months rent due to his landlord. This liability will be treated as—
(A) Preferential Creditor
(B) Partly Secured Creditor
(C) Fully Secured Creditor
(D) Unsecured Creditor
Ans. (A)
80. When two or more companies liquidate to form a new company. It is called—
(A) Amalgamation
(B) Absorption
(C) Reconstruction
(D) Purchase of Business
Ans. (A)
81. A, B and C are partners in a firm. If D is to be admitted to the firm as a new partner—
(A) Old firm has to be dissolved
(B) Old partnership has to be dissolved
(C) Both the old firm and the old partnership have to be dissolved
(D) No need to dissolve either firm or the partnership
Ans. (D)
82. Remington sold one typewriter to Ramesh Chandra under installment purchase system on 1st January 1996, payment for which was to be made as under—
On 01.01.1996 - Rs. 3000
On 31.12.1996 - Rs. 1700
On 31.12.1997 - Rs. 3600
On 31.12.1998 - Rs. 2300
On 31.12.1999 - Rs. 1100
Interest at 10% p.a. is included in each installment. The total interest charged amount to-
(A) Rs.2100
(B) Rs. 1950
(C) Rs. 1800
(D) Rs. 1700
Ans. (B)
83. The liquidator of a company is entit1edio a remuneration of 2% on assets realised, and 3% on the amount distributed to unsecured creditors. The assets realised Rs. 100000 including cash balance of Rs. 3000. Amount available for distribution to unsecured creditors before paying liquidators remui4eration was Rs. 46350 liquidator’s remuneration will be—
(A) Rs.3100
(C) Rs. 3290
(B) Rs.3140
(D) Rs. 3350
Ans. (C)
84. EXIM Bank was established on—
(A) 1st Dec 1984
(B) 1st June 1985
(C) 1st Jan 1982
(D) 1st July 1980
Ans. (C)
85. For capital gain being long term capital gain, an assessee should retain the assets for a period of—
(A) 40 months
(B) 36 months
(C) More than 36 months
(D) Less than 36 months
Ans. (C)
86. The salary received by a member of parliament is—
(A) Exempt from Tax
(B) Taxable under the head of salary
(C) Taxable under the head of other sources
(D) Taxable under the lead of business
Ans. (C)
87. For the purpose of income tax it is necessary for agriculture income that—
(A) Land should be used for agricultural activities
(B) Land should be used for godown
(C) Land should be used for irrigation
(D) None of above
Ans. (A)
88. Depreciation is allowed on—
(A) Tangible Assets
(B) Current Assets
(C) Fixed Assets
(D) Intangible Assets
Ans. (C)
89. When shares are forfeited, the share capital account is debited by—
(A) Nominal value of forfeited shares
(B) Paid up amount of forfeited shares
(C) Called up amount on forfeited shares
(D) Forfeited amount of shares
Ans. (C)
90. The term ‘POIM’ for the four functions of management. Planning, organisation, integration and measuring was given by.—
(A) F.W. Taylor
(B) Harold Smiddy
(C) Tanon Brown
(D) Peter F. Drucker
Ans. (B)

__________________
Answered By StudyChaCha Member

As you want I am here providing you sample paper of the for FCI Management Trainee .

Sample paper

1. Which of the below mentioned is a public sector company?
INFOSYS
AXIS Bank
TESCO
BHEL
2. What is the number next to cime in this series 5, 11, 18, 26, 35,____?
44
45
46
47
3. For which of the following commodity Government of India put a ban on export at the price, below the price of the same in domestic market?
Steel
Chemical Fertiliser
Wheat
Electronic goods
4. If A is the son of B's sister. B & C are brothers. How is A related to C?
Uncle
Cousin
Nephew
Sister-in-law
5. Asia Pacific Economic Cooperation Business Meet was organised in September 2007 at?
New Delhi
Tokyo
Sydney
London
6. Which of the following committee submitted its report on the Insurance Sector Reforms?
Kapadia Committee
Shiv Shankar Commitee
Mirdha Committee
Narasimhan Committee
7. Among different categories of Commercial banks in India. Which of the following is not one among them?
Private Banks
Commodity Banks
Nationalised Banks
Co-operative Banks
8. Anthropology is study related to which of the following?
Animal
Mankind
Insects
Minerals
8. On the decision if USA to award a Congressional Medal to Dalai Lama of Tibet, which of the following country felt unhappy?
India
Pakistan
China
Nepal
9. Arrange the following words according to a meaningfol sequence.

1. Family 2. Community 3. Member 4. Locality 5. Country
3, 1, 2, 4, 5
3, 1, 2, 5, 4
3, 1, 4, 2, 5
3, 1, 4, 5, 2
10. Which is the next term to this series 120, 99, 80, 63, 48,___?
35
38
39
40
11. Which among the following menu is used to perform cut, copy, and paste operations?
File
Tools
View
Edit
12. While executing a program in HTML coding _____ is used as Back-end and ____ works as front-end.
Notepad - Internet-Explorer
Internet-Explorer - Notepad
Notepad - Msn-messenger
MS-Word - Internet Explorer
13. Which of the following commands the computer how to use its components?
Hard Disk
Network
Operating system
Application program
14. When working on a document in Computer, where the Document will be saved temporarily?
RAM
ROM
The CPU
Flash memory
15. What is the term used to mention the Ms-Excel files?
Workbook
Datasheet
Spreadsheet
Spread book

__________________
Answered By StudyChaCha Member