GK-Financial MCQ Question and Answer
GK-Financial MCQ Question and Answer
81. The following figures are presented to you—
Year Sales Profit/Loss
1999 Rs. 1,00,000 Rs. 10,000 (Loss)
2000 Rs. 2,50,000 Rs. 20,000 (Profit)
Calculate Profit Volume Ratio.
Year Sales Profit/Loss
1999 Rs. 1,00,000 Rs. 10,000 (Loss)
2000 Rs. 2,50,000 Rs. 20,000 (Profit)
Calculate Profit Volume Ratio.
- 5%
- 10%
- 15%
- 20%
82. The following particulars relate to manufacturing factory for the month of March 2008. Variable cost per unit Rs. 11; Fixed factory overhead Rs. 5,40,000; Fixed selling overhead Rs. 2,52,000; Variable selling cost Rs. 3; Sales Price per
unit Rs. 20. Find out the Break-Even Point in rupees—
unit Rs. 20. Find out the Break-Even Point in rupees—
- Rs. 26,40,000
- Rs. 30,80,000
- Rs. 25,20,000
- Rs. 27,40,000
83. The following information is obtained from the records of K Co. Ltd.—
Sales (1,00,000 units) Rs. 1,00,000
Variable cost Rs. 40,000
Fixed cost Rs. 30,000
Find out margin of safety.
Sales (1,00,000 units) Rs. 1,00,000
Variable cost Rs. 40,000
Fixed cost Rs. 30,000
Find out margin of safety.
- Rs. 20,000
- Rs. 25,000
- Rs. 30,000
- Rs. 50,000
84. A manufacturer is operating at 50% of its capacity, due to competition. The following are the details. Raw materials Rs. 6 per unit, Direct Labour Rs. 4 per unit. variable overhead - Rs. 3 per unit, fixed overhead - Rs. 2 per unit, output 15,000 units, total cost Rs. 2,25,000, sales value Rs. 2,10,000, loss Rs. 15,000. A foreign customer wants to buy 6,000 units at Rs. 13•50 per unit and the company does not know whether to accept or not as it is suffering losses at the
current level. Advise what he should do ?
current level. Advise what he should do ?
- Accept the offer
- Reject the offer
- Remains indifferent
- None of the above
85. I took the order for 5,000 units at Rs. 50 each because I got more than the cost incurred to produce them, said the
Works Manager, and produced the following figures—
Particulars Before accepting the order After accepting the order
Rs. Rs.
Variable costs 2,50,000 4,00,000
Fixed costs 7,50,000 8,51,000
Total costs 10,00,000 12,51,000
Cost/unit 40 41•70
Analyse the above figures and the decision taken.
Acceptance of this offer has—
Works Manager, and produced the following figures—
Particulars Before accepting the order After accepting the order
Rs. Rs.
Variable costs 2,50,000 4,00,000
Fixed costs 7,50,000 8,51,000
Total costs 10,00,000 12,51,000
Cost/unit 40 41•70
Analyse the above figures and the decision taken.
Acceptance of this offer has—
- Lowered his profit by Rs. 500
- Lowered his profit by Rs. 1,000
- Lowered his profit by Rs. 1,500
- Lowered his profit by Rs. 2,000
86. The following data are provided to you.
Fixed cost - Rs. 20,000; Selling price per unit - Rs. 25, Variable cost per unit - Rs. 20. Find out selling price per unit if B.E.P. is brought down to 2,000 units.
Fixed cost - Rs. 20,000; Selling price per unit - Rs. 25, Variable cost per unit - Rs. 20. Find out selling price per unit if B.E.P. is brought down to 2,000 units.
- Rs. 30
- Rs. 40
- Rs. 50
- Rs. 60
87. Among the following which is not an error of commission ?
- Wrong totalling
- Recording with wrong amount
- Wrong posting
- Escape from posting
88. Internal check means—
- Checking of accounts by cashier
- Checking of accounts by the Internal Auditor
- Checking the work of one person by another automatically
- Managerial control internally over the subordinates
90. By whom from the following, auditor can be reappointed ?
- Directors
- Shareholders
- Central Government
- All of the above