F.Y.B.Com Accountancy And Financial Management

F.Y.B.COM

F.Y.B.COM. SEMESTER – II BUSINESS COMMUNICATION,Q – 3

surajp47263 / February 25, 2025

Q.3 Explain Interview Styles and Format of Interviews. ANS: 1. Directional: This interview style is extremely structured. The interviewer asks specific, direct questions in a pre – set order. One reason for using this format may be the need to maintain consistency across candidates throughout the interview and to make the selection process easier and fairer. This style may also be used for recruitment at lower levels by large organisations that receive too many applications in response to their recruitment drive. 2. Non-Directional: This style is used mainly for higher level recruitment and is more like a conversation than a question-answer session. The interviewer uses open- ended questions to draw out responses from the candidate. 3. Behavioral: This style is used by the interviewer to judge the performance of the candidate in the same/similar role in the previous company. In this style, candidates are expected to answer questions with specific examples of how they have tackled problems, handled various situations, etc. 4. Presentation : This is again used at higher levels where candidates are expected to make a presentation before a panel. One must remember, however, that none of these styles will be used in isolation. An interview will consist of a combination of these styles. Format of Interviews: 1. Pre-Interview Tests : This format is used when an unusually large number of candidates has applied for a few posts. It is generally in the form of a written test which tests both general and specific technical skills. This is common in IT jobs, government jobs, etc. In case of jobs requiring strenuous physical activity and alertness of mind e.g. armed forces, security personnel, bodyguards, etc. there may be physical and mental tests as well. Group Discussions may also be treated as part of the pre-interview test. Other methods could include case study, role-play, etc. 2. Individual : This is an interview where a single interviewer meets the candidate. Generally, the HR department is involved in this task where, from the stack of applications, potential candidates are screened for the main interview. In this stage, the focus is not on the technical know-how of the candidate but more on commitment and adaptability. The questions will be based on the candidate‘s previous jobs, reasons for leaving, salary, CTC, perks and allowances, salary expectations, etc. Later, the candidate may meet the prospective boss, head of the department, etc for similar one-on-one interviews where subject knowledge, technical skills will be tested. 3. Panel Interviews : Here, two or more people form a panel to interview the candidate at the same time. Generally, the panel consists of the head of the department, one member of the HR department, and a third person. There may be an internal/external expert on the panel, if required. The structure of the interview will be the same, the only difference being that the questions will be asked by all the panelists, with each of them performing a different role on the panel.

F.Y.B.COM, Financial Account, Financial Management, Question Bank

F.Y.B.Com Accountancy And Financial Management MCQ PDF

surajp47263 / January 22, 2022

Accountancy And Financial Management MCQ PDF 1) If the rate of gross profit is 25% on cost it will be equal to a) 20% on sales b) 20% on cost c) 1/3 on sales d) 1/5 on cost 2) Fire insurance provides cover for a) Tangible assets b) Intangible assets c) Fictitious assets d) None of these 3) The average clause in a loss of profit protects the a) Insurer b) Insured c) Workers d) None of these 4) Fire insurance policy is taken up to indemnify a) Capital losses to tangible property b) Revenue losses to tangible property c) Capital losses to tangible property d) None of these 5) Claim to be lodged with insurance company is for a) Closing stock +salvaged good b) Closing stock on the date of fire – salvaged goods c) Policy amount – salvaged goods d) None of these 6) Goods recovered in good condition at the time of fire accident is called a) Salvaged goods b) Saved goods c) Damaged goods d) None of these 7) If del- credere commission is allowed for bad debt, consignee will debt the bad debt amount to a) Commission earned A/C b) Consignor A/C c) Debtors A/C d) General profit & loss A/C 8) If del- credere commission is not allowed for bad debt, consignee will debt the bad debt amount to a) Commission earned A/C b) Consignor A/C c) Debtors A/C d) General profit & loss A/C 9) If del- credere commission is allowed by consignee to consignee the bad debt (in the books of consignor) a) Will not be recorded in consignor’s books b) Will be debited in consignment A/C c) Will be charged to general P/L A/C d) Will be debited to the consignee’s A/C 10) Under stock and debtors method, branch stock account helps to a) ascertain net profit/loss of branch b) ascertain gross profit/loss of branch c) ascertain closing stock at the branch d) ascertain cost of goods sent to the branch 11) which of the following item is not credited to consignment account ? a) cash sales made by consignee b) credit sales made by consignee c) consignment stock d) stock reserve on closing stock 12) which of the following expenses of consignee will be considered as non-selling expenses? a) Advertisement b) Insurance c) Selling expenses d) None of these 13) With reference to consignment, loading is the difference between a) Selling price and cost price b) Selling price and invoice price c) Invoice price and cost price d) Invoice price and net realizable value 14) Out of the given option which cannot be treated as part of cost of purchase for valuing stock on hand. a) Packaging b) Octroi c) Delivery charges d) Freight 15) On receipt of advance from consignee in books of consignor which account should be credited. a) Consignee b) Cash / bank c) Bills receivable d) Consignment 16) As per average clause insurance company pays compensation a) Proportionately b) More than the loss c) Less than the loss 17) Which valuing closing stock consignment, the ______expenses incurred by consignor are added to the cost of stock. a) Full b) half c) Proportionate d) Nil 18) In consignment the goods are despatched on the basis that the goods will be sold on behalf of, at the expense and at the risk of a) Consignor b) Consignee c) Transporter d) None of these 19) To lodge claim for the loss of stock by fire, the value of _______ on the date of fire has to be estimated. a) Opening stock in trade b) Closing stock in trade c) Sales d) Claim 20) With reference to consignment, which of the following is correct ? a) Sales account is sent by the consignor b) Sales account is sent by the consignee c) an account sales is sent by the consignor d) an account sales is sent by the consignee 21) In consignment accounting, to consign means ______ a) to receive b) to purchase c) to send d) to transfer 22) In consignment accounting consignor is _______ a) principal b) agent c) debtor of the consignee d) none of them 23) In consignment accounting, consignment is _______ a) real A/C b) personal A/C c) nominal A/C d) none them 24) In consignment accounting, consignee account is _______ a) real A/C b) personal A/C c) nominal A/C d) none them 25) In consignment accounting, if discount is treated as “consignment expenses” if is debited to _______ a) Consignment A/C b) Profit and loss A/C c) Consignee A/C d) Consignor A/C

F.Y.B.COM, Financial Management, Question Bank

F.Y.B.COM ACCOUNTING AND FINANCIAL MANAGEMENT MCQ

surajp47263 / July 2, 2021

1. Usually, in a single entry system _____________. A. Only manual accounts are maintained B. Only cash and personal accounts are maintained C. Only real accounts are maintained D. Only nominal accounts are maintained ANS: B 2. Profit can be ascertained from the incomplete records under Single entry by using ____________. A. Only Statement of affairs method B. Only Conversion method C. Either Statement of affairs or conversion method D. Neither Statement of affairs nor conversion method ANS: C 3. If books are kept under single entry system, Credit sales are ascertained by preparing __________. A. Total Creditors A/c B. Credit sales A/c C. Trading A/c D. Total Debtos A/c ANS: D 4. If books are kept under single entry system, Credit purchases are ascertained by preparing __________. A. Total Creditors A/c B. Credit sales A/c C. Trading A/c D. Total Debtos A/c ANS: A 5. If books are kept under single entry system, opening stock is ascertained by preparing ___________. A. Opening stock A/c B. Stock register C. Memorandum Trading A/c D. Opening statement of Affairs ANS: C 6. Under stock and Debtors method, Branch stock account helps to ___________. A. Ascertain net profit / loss of the branch B. Ascertain cost of goods sent to the branch C. Ascertain closing stock at the branch D. Ascertain Gross profit/loss of the branch ANS: B 7. Branch Adjustment Account is opened __________. A. Under debtors method, when goods are sent by HO to branch at cost B. Under stock and debtors method, when goods are sent by HO to branch at cost C. Under debtors method, when goods are sent by HO to branch at invoice price D. Under stock and debtors method, when goods are sent by HO to branch at invoice price ANS: D 8. Branch Account under debtors system is a __________. A. Real A/c B. Nominal A/c C. Personal A/c D. Representative personal A/c ANS: B 9. When Branch ‘A’ sends goods to Branch ‘B’ in the books of Branch ‘A’ debit is given to A. Sales return A/c B. Branch B A/c C. Head office A/c D. Purchase return A/c ANS: C 10. The cash and credit sales of a branch are Rs.5,000 and Rs.10,000 respectively. The amount collected from debtors is Rs.10,000. Under Debtors system the amount credited to branch will be _____ A. Rs.20,000 B. Rs.15,000 C. Rs.25,000 D. Rs.10,000 ANS: B 11. Cash received from debtors needed for the construction of cash account can be ascertained from ___________. A. Total Creditors A/c B. Total Debtors A/c C. Analysis of cash book D. Balance sheet ANS: B 12. Closing balance of trade creditors can be ascertained from ___________. A. Total Creditors A/c B. Total Debtors A/c C. Bills Payable A/c D. Cash A/c ANS: A 13. An estimate of assets and liabilities as on a date is called __________. A. Balance sheet B. Statement of affairs C. Statement of Capital D. Trial Balance ANS: B 14. Bills Payable dishonoured are debited to ________ Account. A. Bills Receivables B. Bills Payable C. Sundry Debtors D. Sundry Creditors ANS: B 15. With the available information a trader need to convert the incomplete records into complete records, it is known as _________. A. Complete records method B. Statement of affairs method C. Conversion method D. Random method ANS: C 16. Goods are sent to the Branch at 20% margin on selling price. When Branch stocks disclose a surplus of Rs.2,000 the amount to be credited to Branch Adjustement A/c will be ________. A. Rs.2,000 B. Rs.333 C. Rs.1,600 D. Rs.400 ANS: D 17. In Branch Accounts, Depreciation on branch assets under debtors system is ___________. A. Not shown separately in branch A/c B. Shown in Branch A/c C. Not accounted D. Shown in the Profit & loss A/c of head office ANS: A 18. Stock reserve in relation to cloaing stock appears ___________. A. On the credit side of branch A/c B. On the debit side of branch A/c C. On the debit side of Profit & loss A/c D. On the credit side of profit & loss A/c ANS: B 19. Which of the following statement is True ? A. The income, expenses, assets and liabilities of an independent branch can be ascertained only by HO B. Purchase of fixed assets by branch on credit will be recorded in the branch A/c kept under the Debtor method C. Receipts from branch debtors are not recorded in the Branch account kept under the Debtor method. D. Under stock and debtors method, branch stock A/c is opened in order to ascertain net profit/loss of branch ANS: C 20. Which of the following statement is False A. Consignor is the owner of the consignment A/c B. Del-credere commission is allowed by consignor to protect himself for bad debt C. Proportionate consignor’s expenses is added up with consignment stock D. All proportioante consignee’s expenses will be added up for valuation of consignment stock ANS: D 21. If total stock is Rs.50,000; the value of policy is Rs.70,000 and the entire stock is lost, the claim will be for _________. A. Rs. 70,000 B. Rs. 35,714 C. Rs. 50,000 D. Rs. 60,000 ANS: C 22. The Balancing figure in Memorandum Trading A/c prepared by a trader who has lost goods in fire indicates ___________. A. Gross profit on stock lost B. Estimated closing stock as on date of fire C. Value of fire insurance policy D. Amount of claim to be made from Insurance company ANS: B 23. If there are any damaged or obsolete items in stock lost by fire, the Memorandum Trading A/c _____________. A. Should show only the normal items B. should have two amount columns on each side for Normal items and Abnormal items C. Should show only the abnormal items D. should have only one amount columns on either side for Normal items and Abnormal items ANS: B 24. If there are damaged or absolete items in stock lost by fire, the amount

F.Y.B.Com Accountancy And Financial Management

F.Y.B.COM. SEMESTER – II BUSINESS COMMUNICATION,Q – 3

F.Y.B.Com Accountancy And Financial Management MCQ PDF

F.Y.B.COM ACCOUNTING AND FINANCIAL MANAGEMENT MCQ

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