TRB COMMERCE Question Paper with Answers Part -2

TRB COMMERCE Questions. 

Answers are in bold letters for better understanding/reference and easy hand on answers..
11. A company is having 40,000 equity shares of Rs. 10 paid. If the dividend per share is Rs. 1.50 and the
expected rate of return is 12%, the market value of share will be
A) Rs. 12 B) Rs. 8.33
C) Rs. 10 D) Rs. 12.50.

12. If the actual profits are more than the expected normal profits, the difference is termed as
A) average profit B) superprofit
C) gross profit D) net profit.

13. The factor proportions theory was empirically tested by
A) Heckscher B) Ohlin
C) Leontief D) Becker.

14. As per the existing scheme the unit value of Special Drawing Account ( SDA ) is expressed in terms of
A) Silver B) Gold
C) Monetary value D) Both (A) and (B).

15. In September 2003, the WTO Conference was held at
A) Taha B) Mexico
C) London D) Sydney.

16. Contingent liability appears as a footnote in the balance sheet. This is in accordance with the accounting principle,
A) Consistency B) Disclosure
C) Conservatism D) Materiality.

17. The policy of ‘anticipating no profit and provide for all possible losses’ arises due to convention of
A) Consistency B) Disclosure
C) Matching D) Conservatism.

18. The salary of 4 clerks for a period of 6 months before the date of liquidation, was in arrears. If the salary of each clerk is Rs. 6,000 per month, the amount to be included in preferential creditors will be
A) Rs. 96,000 B) Rs. 1,44,000
C) Rs. 80,000 D) Rs. 72, 000.

19. The liquidator of a Company is entitled to a remuneration of 2% on assets realised and 3% on the amount distributed to unsecured creditors. The assets realized Rs. 1,00,000 including cash balance of Rs. 3,000. Amount available for distribution to unsecured creditors before paying liquidator’s remuneration was Rs. 46,350. The liquidator’s remuneration will be

A) Rs. 3,100 B) Rs. 3,140
C) Rs. 3,290 D) Rs. 3,330.

20. A business is having adjusted net profits of Rs. 1,00,000 and capital employed Rs. 6,00,000. If goodwill is taken at 3 years, purchase of superprofits and the expected rate of return is 10%, the value of goodwill will be
A) Rs. 3,00,000 B) Rs. 5,00,000
C) Rs. 1,20,000 D) Rs. 1,80,000.



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