LU M.Com Entrance Previous Year Question Paper Pattern – Model Paper Set 2 (2027) with Answers

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Q1. 'Kinked' demand curve is related with

1. (A) Oligopoly
2. (B) Discriminating monopoly
3. (C) Perfect competition
4. (D) Monopoly

Q2. Cost of capital has been defined as cut-off rate for capital expenditure by

1. (A) Milton H. Spencer
2. (B) J. J. Hampton
3. (C) M. J. Gordon
4. (D) Soloman Ezra

Q3. In which industry, units in the co-operative sector account for over half of the total production?

1. (A) petrochemical industry
2. (B) Sugar industry
3. (C) none ferrous metal
4. (D) steel industry

Q4. The determination of expenses for an accounting period is based on the principle of :

1. (A) Objectivity
2. (B) Materiality
3. (C) Matching
4. (D) Periodicity

Q5. The sale of inventory on account will cause the quick ratio to

1. (A) Increase
2. (B) Not change
3. (C) Become zero
4. (D) Decrease

Q6. Hierarchy of needs theory was propounded by :

1. (A) Peter F. Drucker
2. (B) L. W. Porter
3. (C) Me Gregor
4. (D) A. H. Maslow

Q7. Which of following is/are characteristics of Karl Pearson's coefficient of correlation

1. (A) A satisfactory measure
2. (B) Indicators of the direction
3. (C) Indication of degree
4. (D) All of the above

Q8. Quick decision is a feature of :

1. (A) Company
2. (B) Cooperative enterprise
3. (C) Sole proprietorship
4. (D) Partnership

Q9. In the case of an independent branch, the Head Office Account maintained by the branch is of the nature of a

1. (A) Real Account
2. (B) Nominal Account
3. (C) Personal Account
4. (D) None of the above

Q10. Leasehold property is generally depreciated by :

1. (A) Reducing Balance method
2. (B) Insurance Policy method
3. (C) Annuity method
4. (D) Fixed Instalment method

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Q11. Restriction on transfer of shares is related to :

1. (A) Subsidiary company
2. (B) Private company
3. (C) Holding company
4. (D) Public company

Q12. Accounting Standard Board was set up by

1. (A) Government of India
2. (B) Institute of Company Secretaries of India
3. (C) Institute of Cost and Works Accountants of India
4. (D) Institute of Chartered Accountants of India

Q13. Partnership can be brought to an end by giving notice when:

1. (A) the purpose for which it was established has come to an end
2. (B) Partnership is not for a fixed period
3. (C) Partnership is for a fixed period
4. (D) Partnership is at will

Q14. Which of the following represents a company’s effort to identify categorize groups of customers and countries according to common characteristics?

1. (A) Global marketing research
2. (B) Global positioning
3. (C) Global targeting
4. (D) Global market segmentation

Q15. Span of management is related to ;

1. (A) Organisation
2. (B) Planning
3. (C) Selecting
4. (D) Recruiting

Q16. Which of the following is not a feature of partnership?

1. (A) Mutual agency
2. (B) Agreement
3. (C) Division of profit
4. (D) Artificial person

Q17. The Law of Diminishing Returns depends on the assumption that

1. (A) The state of technical knowledge is un- changed
2. (B) Average output declines faster than marginal output
3. (C) Total output is constant
4. (D) Land is the factor kept constant

Q18. All the fully paid up shares of a company may be converted into stock if so authorised by the of a company

1. (A) Memorandum of Association
2. (B) Company Law Board
3. (C) Articles of Association
4. (D) Registrar of Companies

Q19. Example of Direct Tax is ________

1. (A) Custom Duty
2. (B) Service Tax
3. (C) Income Tax
4. (D) Excise Duty

Q20. The meeting which is convened once in the life of the company is

1. (A) Meeting of creditors
2. (B) Annual general meeting
3. (C) Extra-ordinary meeting
4. (D) Statutory meeting

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Q21. Compliance of statutory requirements is the major concern of:

1. (A) Internal Audit
2. (B) Internal Check
3. (C) External Audit
4. (D) Internal Control

Q22. Liquidity ratio indicates the ability of the company to meet its

1. (A) long-term liability
2. (B) tax obligations
3. (C) current liability
4. (D) shareholders claim

Q23. When marginal utility is negative then total utility

1. (A) decrease
2. (B) is negative
3. (C) is zero
4. (D) increase

Q24. All possible losses should be accounted for according to the

1. (A) Prudence Concept
2. (B) Money Measurement Concept
3. (C) Business Entity Concept
4. (D) Cost Concept

Q25. _____ is one in which a manager has control over costs as well as revenues.

1. (A) Both
2. (B) Cost Centre
3. (C) Revenue Centre
4. (D) Profit Centre

Q26. Which of the following accounting equation is correct?

1. (A) Capital Assets + Liabilities
2. (B) Capital + Assets = Liabilities
3. (C) Capital + Liabilities = Assets
4. (D) Capital-Liabilities = Assets

Q27. Budgets can be classified according to

1. (A) All of the above
2. (B) Flexibility
3. (C) Functions
4. (D) Time

Q28. Preference shareholder are :

1. (A) Creditors of the company
2. (B) Owners of the company
3. (C) Debetors of the company
4. (D) Customers of the company

Q29. Capital Redemption Reserve Account is available for:

1. (A) issue of bonus shares
2. (B) redemption of redeemable debentures
3. (C) redemption of red earnable preference shares
4. (D) reorganisation of share capital

Q30. Which of the following items is considered as a revenue expenditure?

1. (A) Expenditure by way of maintenance that has increased productivity
2. (B) Repair of a gearbox in a car that has enhanced its
3. (C) Complete overhaul of a machine, spending around 20% of its value
4. (D) Changing a small component of a ma- chine to

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Q31. Who is responsible for performing planning function?

1. (A) Worker
2. (B) Shareholder
3. (C) Outsider
4. (D) Manager

Q32. Which policy is concerned with raising revenue through taxation and deciding on the level and pattern of expenditure?

1. (A) Monetary policy
2. (B) None of these
3. (C) Cash policy
4. (D) Fiscal Policy

Q33. Legal expenses incurred to defend a suit for breach of a contract to supply goods will be treated as

1. (A) Capital expenditure
2. (B) Revenue expenditure
3. (C) Deferred revenue expenditure
4. (D) None of the above

Q34. Cash discount allowed to a debtor should be credited to

1. (A) Customer's Account
2. (B) Sales Returns Account
3. (C) Discount Account
4. (D) Sales Account

Q35. Section 39 of Companies Act, 2013 deals with ___________of Securities

1. (A) Allotment
2. (B) Issues
3. (C) Application
4. (D) Redemption

Q36. Who has coined the term POSDCORB for managerial functions?

1. (A) R.C. Davis
2. (B) Ernest Dale
3. (C) George R. Terry
4. (D) Luther Gulick

Q37. ____is a social movement seeking to augment the rights and powers of buyers

1. (A) Consumerism
2. (B) Consumer movement
3. (C) Flows
4. (D) None of these

Q38. Cost of air conditioning the office of the managing director is :

1. (A) Capital expenditure
2. (B) Deferred revenue expenditure
3. (C) Revenue expenditure
4. (D) None of the above

Q39. A perfectly competitive market in the short run will be in equilibrium where

1. (A) MC=MR
2. (B) MC=AC
3. (C) None of these
4. (D) MC=Zero

Q40. Micro factors of external business environment does not include

1. (A) None of these
2. (B) Customers
3. (C) Government Policy
4. (D) Competitors

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Q41. Average inventory level is reduced by

1. (A) lowering the reorder point
2. (B) increasing the usage rate
3. (C) decreasing the vendor lead time
4. (D) decreasing the order quantity

Q42. Which of the following is of capital nature?

1. (A) Cost of repairs of a truck
2. (B) Replacement of old tyres and tubes of a truck
3. (C) Purchase of a truck by a company
4. (D) All the above

Q43. is a systematic examination of the books and records or a business

1. (A) Checking
2. (B) Auditing
3. (C) Vouching
4. (D) Verification

Q44. Functions of accounting include I. Keeping systematic records II. Protecting properties of the business III. Communicating the results IV. Meeting legal requirements

1. (A) I, II, III and IV
2. (B) I and II
3. (C) I, III and IV
4. (D) I and III

Q45. is the first step in the typical internationalization process

1. (A) FDI
2. (B) License
3. (C) Export through distributor
4. (D) Sales subsidiary

Q46. The amount of deficiency is given under;

1. (A) List G
2. (B) List E
3. (C) List H
4. (D) List F

Q47. The design of a good material handling system should focus on

1. (A) The minimization of fixed investment
2. (B) The minimization of materials handling
3. (C) The maximization of profits
4. (D) The speedy movement of materials

Q48. The best definition of 'capital employed' in calculating the rate of return on investment is

1. (A) Current assets + net fixed assets
2. (B) Working capital + gross fixed assets
3. (C) Current assets + gross fixed assets
4. (D) Working capital + net fixed assets

Q49. ROI stands for?

1. (A) None of these
2. (B) Return on Investment
3. (C) Ratio of Investment
4. (D) Return of Income

Q50. Which one of the following is not the essential feature of a company?

1. (A) Separate Entity
2. (B) Limited Liability
3. (C) Perpetual Succession
4. (D) Artificial person

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Q51. Competitors, Customers and Public are the part of

1. (A) none of these
2. (B) micro environment
3. (C) business necessities
4. (D) macro environment

Q52. A graph of cumulative frequency distribution is called as

1. (A) Ogive
2. (B) Frequency polygon
3. (C) Pie diagram
4. (D) Histogram

Q53. 'Fatigue study' is an element of:

1. (A) Rationalisation
2. (B) Scientific management
3. (C) Simplification
4. (D) Mechanisation

Q54. The last function of management is :

1. (A) Directing
2. (B) Controlling
3. (C) Staffing
4. (D) Planning

Q55. In the accrual (mercantile) basis of accounting, the financial effect of a transaction is recorded

1. (A) All of the above
2. (B) As and when they occur
3. (C) On confirmation of orders but before the delivery of goods take place
4. (D) On the basis of actual receipt and payment of cash

Q56. The last installment paid under the hire purchase comprises:

1. (A) Cash price + Interest
2. (B) None of these
3. (C) Cash price only
4. (D) Interest only

Q57. If 'Tata Company' imports a product from abroad, then which tax will be levied on it?

1. (A) VAT
2. (B) Custom duty
3. (C) Income tax
4. (D) Corporation tax

Q58. Demand Analysis includes:

1. (A) Demand Differentials
2. (B) Demand Determinations
3. (C) All of the above
4. (D) Demand Forecasting

Q59. Recruitment precedes:

1. (A) Selecting
2. (B) Directing
3. (C) Motivating
4. (D) Training

Q60. Income and Expenditure Account is prepared by non-trading concerns in lieu of

1. (A) Cash book
2. (B) Manufacturing account
3. (C) Trading account
4. (D) Profit and loss account

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Q61. The equilibrium is unstable and indeterminate under

1. (A) Cournot Model
2. (B) Sweezy Model
3. (C) Pareto Model
4. (D) Edgeworth model

Q62. One of the criticisms levelled against the development strategy in India is that……should have been given greater importance than industry

1. (A) hilly sector
2. (B) public sector
3. (C) agricultural sector
4. (D) private sector

Q63. The issue of equity capital in exchange of plant and machinery will cause the return on equity capital to

1. (A) Decrease
2. (B) Remain unchanged
3. (C) Fluctuate
4. (D) Increase

Q64. Job evaluation is used for

1. (A) Study of progress of production
2. (B) Study of job composition
3. (C) Rating the merit of an employee
4. (D) Determining wage-rate differentials

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