LD Clerk in various department (Kozhikode and Alappuzhadistrict) will be held on 18-1-2014 you can download hall ticket from onetime registrion window in PSC Website.

Thursday, January 2, 2014

Last Grade Servant 2014 applications invited

PSC Invited Application for the post of last grade servant in varios department ,you can submit Application through one time registration window ,psc did not start to receive applications .


Tuesday, October 29, 2013


Syllabus: An Objective Type Test (OMR Valuation) based on the
qualification prescribed for the post.
Main Topics:-
Part I – Simple Arithmetic and Mental Ability
Part II – General Knowledge & Current Affairs
Part III – General English
Part IV - Regional Language (Malayalam/Tamil/Kannada)
(Maximum Marks : 100)
(Duration: 1 hour 15 minutes)
( Medium of Questions: Malayalam/Tamil/Kannada)

Saturday, September 28, 2013

junior Co-op inspector solved question -test held on 28-09-2013

Junior Co-op Inspector /Auditor of co-op Societies in Co-op department test held on 28-9-2013

1-All societies in kerala are :
(A) Single functional (B) Double functional
(C) Multifunctional (D) None of these
Ans: (C) Multifunctional

2-Limited Liability means that the liability of the members are :
(A) Limited to their paid up capital (B) Limited to their subscribed capital
(C) Limited to the debts of society (D) None of these
Ans: (A) Limited to their paid up capital

3-Trade Union is :
(A) Business organization (B) Production organization
(C) Factory organization (D) Does not involve in Business
Ans: (D) Does not involve in Business

4-One man one vote is the principles of :
(A) Oligopoly (B) Monopoly
(C) Democracy (D) None of these
Ans: (C) Democracy

5-Imposition of an organization model is :
(A) Blue print (B) Green house
(C) Univalent (D) None of these
Ans : (A) Blue print

6-The basic idea behind Co-operation is :
(A) Each for all and all for all (B) Each for all and all for each
(C) Each for himself (D) Each for everybody
Ans : (B) Each for all and all for each

7-Voting principle of a Co-operative society is :
(A) One share one vote (B) One man one vote
(C) Two head one vote (D) None of these
Ans: (B) One man one vote

8---- is the father of Co-operation
(A) Michal Owen (B) Robert Owen
(C) Roach Dale (D) Karve
Ans: B) Robert Owen

9- Iliability  of a Sole trader is :
 (A) Limited by Guarantee (B) Limited by Shares
(C) Unlimited (D) None of these
Ans: (C) Unlimited

10-Partnership is an association of :
(A) Persons (B) Firms
(C) Company (D) None of these
Ans: (A) Persons

11-The Co-operative principles were developed in :
(A) Two stages (B) Three stages
(C) Four stages (D) Five stages
Ans: (C) Four stages

12-The Roach Dale Equitable pioneer society was set up in the year:
(A) 1844 (B) 1944
(C) 1771 (D) 1786
Ans: (A) 1844

13-On registering a society it should be affiliated to a Co-operative union within:
(A) 4 months (B) 6 months
(C) 8 months (D) 12 months
Ans: (B) 6 months

14-ATM stands for :
(A) Any time money (B) Account transfer money
(C) Accurate Teller Machine (D) Automated Teller Machine
Ans: (D) Automated Teller Machine

15-A Co-operative society cannot admit members within ______ days before the election
agenda general body
(A) 40  (B) 50
(C) 60 (D) 80
Ans: (C) 60

16-NPA means :
(A) Net Present Asset (B) Net Profit on Asset
 (C) Net Profit Analysis (D)  Non Performing Asset:
Ans:(D)  Non Performing Asset:

17- _______ started the first Co-operative credit societies in the world:
(A) Britain (B) France
(C) Germany (D) India
Ans: (C) Germany

18-Minimum number of members required to Start an industrial Co-operative Society is:
(A) Two (B) Seven.
(C) Ten (D) Twenty
Ans: (C) Ten

19-The Consumer fed was organised in the Year:
(A) 1955 (B) 1965
(C) 1975 (D) 1985
Ans: (B) 1965

20-Robert Owen was born in the year :
(A) 1969 (B) 1971
(C) 1973 (D) 1771
Ans: (D) 1771

21 ----------the owned funds of state Co-operative Banks :
(A) Share Capital  (B) Statutory reserve
(C) Debenture Capital  (D) Deposits
Ans: (A) Share Capital 

22-Medium term loans are given for a period of :
(A) 2 years (B) 3 years
(C) 5 years (D) 7 years
Ans: (C) 5 years

23-The 1st Non Agricultural Credit society was established at :
(A) Agra (B) Calcutta
(C) Baroda (D) Madras
Ans : (C) Baroda

24-The NAC was formed in the year :
(A) 1986 (B) 1996
(C) 1976 (D) 1966
Ans : (C) 1976

25-The NDDB was established in the year :
 (A) 1945
(C) 1965
(B) 1955
(D) 1975
Ans : (C) 1965

26-The first Co-operative housing  society was established in the year ----
(A) 1950, Bombay (B) 1940, Madras
(C) 1960, Agfa (D)  1965,A11ahabad
Ans :   1905 , Bombay

27-Co-operative Societies creates Statutory reserve fund from :
(A) Gross profit (B) Net profit
(C) Deposits (D) Share Capital
Ans: B) Net profit

28-Banca popularie was formed by : ~
Mazzini (B) Raiffeise
Luzzati  (D) Reggio
Ans : (B) Luzzati

29-Under Capitalism the entire means of production and distribution of goods and services are vested in the hands of:
(A) The Govt. (B) The state
(C) The Public enterprises (D) The Private individuals
Ans : (D) The Private individuals

30-Socialism is a system where in all means of production and distribution is owned and
controlled by :
(A) The State (B) The Businessman
(C) The Private (D) None of these
Ans: (A) The State

31-The Communist Manifesto was published in :
(A) 1838 (B) 1848
(C) 1858 (D) 1868
Ans: (B) 1848

32-The Apex body responsible for C0-operative training and education in India is:
Ans: (D) NCUI

33-Vaikuntu Mehta National Institute for Co-operative managements was constituted in:
(A) 1964 (B) 1965
(C) 1966 (D) 1967
Ans : (D) 1967

34-In 1953 ________ constituted a central committee for co-operative training:
(A) SBI (B) SCB `
Ans: (C) RBI

35-SCU is a statutory body established by the Govt. of Kerala as per ________ of 
Co-operative Societies Act 1969 :
(A) Section 80 (B) Section 86
(C) Section 88 (D) Section 89
Ans: (D) Section 89

36-The Management of State Co-operative Union has a general body and a :
(A) Managing agent (B) Manager
(C) Secretary (D) Managing Committee
Ans: (D) Managing Committee

37-The first Co-operative Society came into being in :
(A) 1750 (B) 1760
(C) 1770 (D) 1730
Ans: (B) 1760

38-The first persons to formulate definite practical rules and demonstrate the possibilities
Co-operative actions were the : . ~
(A) Robert Owen (B) Roach Dale Pioneers
(C) Dr. Willing King (D) None of these
Ans: (B) Roach Dale Pioneers

39-Co-operative principles by ICA in 1995 was the________ in which the principles we
developed: `
(A) First stage (B) Second stage
(C) Third stage (D) Final stage
Ans: (D) Final stage

40-ICA means :
(A) Indian C0-operative Alliance (B) International Co~0perative Alliance
(C) Industrial Co-operative Alliance (D) None of these
Ans: (B) International Co~0perative Alliance

41-A scheme of ‘Co-operative Colony’ was organized by :
(A) Dr. William King (B) Robert Owen
(C) Roach dale Pioneers (D) None of these
Ans: (B) Robert Owen

42-In a socialist economy the surplus goes to :
(A) The Individual (B) The Company
C) The State (D) The Entrepreneur
Ans: C) The State

43- Co-operation favours the ____________in the economic affairs :
(A) Centralisation (B) Decentralisation
(C) Delegation (D) None ofthese
Ans : (B) Decentralisation

44-The idea of Co-operative common Wealth was first given by :
(A) Dr. Gadgil (B) Owen '
(C) Roach Dale (D) None of these
Ans: (A) Dr. Gadgil

45-The writer’s co-operatives was started in the year :
(A) 1937 (B) 1945
(C) 1947 (D) 1950
Ans: (B) 1945

46-The Head quartersof CAMPCO is at : _
(A) Bangalore (B) Mangalore
(C) Madras (D) Pune
Ans : (B) Mangalore

47-The rainbow emblem was suggested by :
(A) E. Bernardot (B) E. Fernandas
(C) E. Behrothra (D) None of these
Ans: (A) E. Bernardot

48-In India we celebrate Co-operative week from ______ to ______every year:
( A) 7th   to 13th  November _ (B) 14th  to 20th  November
(C) 21st  to 27th  November (D) None of these
Ans; (B) 14th   to 20th  November

49-The Head Office of ILO is located at ;
(A) UK (B) USA
(C) USSR (D) Switzerland
Ans: (D) Switzerland

50-FAO was formed in the year :
  (A) 1940 (B) 1943
(C) 1945   (D) 1947
Ans; (B) 1943

51-Robert Owen was born at :
(A) London (B) New York
(C) Newton V (D) Washington
Ans: (C) Newton

52-In England, the _________ was known as a period of a Hungry forties:
(A) 1840 (B) 1940
(C) 1740 (D) 1640
Ans: (A) 1840

53- ________ was a Mayor in Germany :
(A) Delitzsch (B) Schulze
(C) Raiffeisen, (D) Robert Owen
Ans: (B) Schulze

54-Which country is known as the Dairy farm of Europe?
(A) Germany (B) Switzerland
(C) France (D) Denmark
Ans: (D) Denmark

55-The process of separation of cream from milk was introduced by
(A) Nixson ` (B) Nelson
(C) Newton D ` (D) Niloser
Ans : (B) Nelson

56-UNICOOP JAPAN was established in :
(A) 1951 (B) 1941
(C) 1961 (D) 197 1
Ans: (C) 1961

57-The Russian Revolution was in the year :
(A) 1914 (B) 1915
(C) 1916 (D) 1917
Ans: (D) 1917

58-Dr. Wollemborg did for __________ what Raiffeisen did for Germany:
(A) Italy (B) Denmark
(C) France (D) Britain `
Ans: (A) Italy

59-The Soviet leaders a opted the system of collective farming known as:
(A) Kolkoz (B) Kolkor
(Cl Kolkon (D) Kolkom
Ans: (A) Kolkoz

60-The RRB’s Act was passed in the year 1
(A) 1974 (B) 1976
(C) 1978 (D) None of these

61-The first Land Mortgage Bank was registered on 30th  June 1920 in:
(A) Bihar (B) Kerala
(C) Bengal (D) Punjab
Ans: (B) Kerala

62-The headquarters of KSCARDB is at :
(A) Kozhikode (B) Kasarkode
(C) Thrissur (D) Thiruvananthapuram
Ans: (D) Thiruvananthapuram

63- _________ is the apex institution of the marketing co-operatives in Kerala:

64-The NAFED has its headquarters at :
(A) Bombay (B) New Delhi
(C) Madras (D) Calcutta
Ans: (B) New Delhi

65-The NCDC was established in : ~
(A) 1953 , (B) 1963
(C) 1973 (D) 1983
Ans: (B) 1963

66-The special type of accounting procedure followed by District wholesale co-operative stores is :
(A) Single Account System (B) Double Account System
(C) Double Compartmental System (D) None of these
Ans: (C) Double Compartmental System

67-The Apex level institution of the consumer movement in the state is :
(A) CAMPCO (B) Consumer fed
(C) Consumer Co-operatives (D) Central Co-operative bank
Ans: (B) Consumer fed

68-The biggest departmental store is :
(A) Bombay Super Market (B) Calcutta Super Market
(C) Madras Super Market (D) Delhi Super Market
Ans: (D) Delhi Super Market

69-ANAND is a place in KAIRA district of : -
(A) Rajastan (B) Bihar
(C) Gujarat (D) UP
Ans: (C) Gujarat

70-White revolution was introduced and Operated under the able guidance of
(A) PJ kurian (B) Dr. V. Kurian
(C) PJ Francis (D) Dr. V. Francis
Ans: (B) Dr. V. Kurian

71-The Kerala state Co-operative housing federation wash organized with headquarters at:
(A) Thiruvananthapuram (B) Cochin
(C) Kozhikode (D) Thrissur
Ans: (B) Cochin

72- _________ is a fund constituted by the govt. by collecting levy of additional excise duty
on mill made cloths :
(A) Cess Fund (B) Levy Fund
(C) Reserve Fund (D) Sinking Fund
Ans; (A) Cess Fund

73-NABARD is managed by a Board consisting of -l-l- members
(A) 10 (B) 15
(C) 20 (D) 25
Ans: (B) 15

74-The Swarozgar credit card scheme was introduced by ;
(A) RBI  (B) SBI
Ans: _(B) SBI

75-The pattern of organisation of consumer C0~operative stores in the country represents a
________ tire structure :
(A) 4 (B) 3
(C) 2 (D) 1
Ans: (A) 4

76-All  business transactions are firstly recorded in the :
(A) Journal (B) Ledger
(C) Trial Balance (D) Posting
Ans: (A) Journal

77-The Keystone of co-operative movement in kerala is ;
Ans: (D) SCB

78-The Employees credit societies have got a &____--~ structure :
(A) Unitary (B) Quasi
(C) Federal (D) Quasi federal
Ans: (A) Unitary

79-The apex body of  Labour co~operative movement in India is :
Ans: (D) NLCF

80------- was the first producer oriented Dairy Co-operative formed in India:
(A) Amulya (B) Kera
(C) Amul (D) Horlicks
Ans: (C) Amul

81-The short coming of the co-operative Societies Act of 1904 was removed by another Act in the year :
(A) 1910 (B) 1911
(C) 1912 (D) 1913
Ans: (C) 1912

82-Mirdha committee gave a new orientation to :
(A) Indian Co-operation (B) Foreign Co-operation
(C) Co-operative principles (D) Co-operative 1aw
Ans: (A) Indian Co-operation

83-Multi state Co-operative Societies Act was enacted in :
(A) 2010 ` (B) 2012
(C) 2002 (D) 2008
Ans: (C) 2002

84-Mehta Committee report states that the Cadre of Registrar should not be below:
(A) IFS ofEcer (B) ICS officer
(C) IAS ofiicer (D) None of these
Ans: (C) IAS ofiicer

85-Days of Grace is generally allowed in the Case of :
(A) Cheque  (B) Bill of exchange
(C) Hundies (D) Bonds
Ans: (B) Bill of exchange

86-The biggest commercial bank in India iS :
(C) SBT (D) None ofthese
Ans: (B) SBI

87-A co-operative society can give donations from the :
(A) Reserves (B) Profit '
(C) Capital (D) Common goods fund
Ans: (D) Common goods fund

88-Who can open a crossed cheque?
(A) Drawer (B) Banker
(C) Drawee (D) Payee
Ans: (A) Drawer

89-The amendments to the bye-laws of a society can be made by :
(A) Managing committee (B) General body
(C) Secretary (D) Registrar
Ans: B) General body

90-The currency notes of India is issued by :
(A)~ State Co-operative Bank (B) SBI
(C) Central Co-operative Bank (D) RBI
Ans: (D) RBI

91-Books and Registers of Co-operative societies are maintained as per rule:
(A) Rule 14   (B) Rule 20
(C) Rule 29  (D)  Rule 26
Ans: (C) Rule 29

92-Trial Balance is a :
(A) Account (B) Entry
(C) Cash Book (D) Statement
Ans: (D) Statement

93-While preparing  final accounts of a co-operative society, overdue interest shall  be shown on the :
(A) Income side of P & L A/c (B) Expense side
(C) Asset side (D) Liability side
Ans: (C) Asset side

94-Co-operative audit is done by :
(A) Chartered Accountant (B) C0St ACC0UI1taI1f
(C) Department auditors (D) Registrar
Ans: (C) Department auditors

95-Examination of transactions with the help of documentary evidence is called:
(A) Verification (B) Voucher
(C) Vouching (D) Auditing
Ans: (C) Vouching

96-Reserve fund is created out of :
(A) Share capital (B) Admission fees
(C) Savings bank deposit (D) Net profit
Ans : (D) Net profit

97------ is the amount given by Government which need not be repaid:
(A) Subsidy (B) Loan
(C) Advance (D) Grant
Ans: (D) Grant

98-The Co-operative department is headed by :
(A) The secretary `(B) The Registry
(C) The Auditor (D) The Managing Director
Ans: (B) The Registry

99-The Registrar of Co-operative societies is appointed by :
(A) The Co-operative bank (B) The Urban bank
(C) The State Co-operative bank (D) The  Government
Ans: (D) The  Government

100-Team Audit was introduced in the year;
 (A) 1988 (B) 1978
(C) 1998 (D) 2008
Ans: (A) 1988

Saturday, September 21, 2013

junior Co-op inspector Solved question test held on 12-05-2007

1- The rent paid by lanlord be credited to :
A ) Landlord's A/C
B ) P and L A/C
C ) Rent A/C
D ) Cash A/C
Ans: D ) Cash A/C

2-Income tax paid by a sole proprietor on his business income should be :
A ) Debited to Trading A/C
B ) Debited to P and L A/C
C ) Debited to Capital A/C
D ) Debited to Miscellaneous A/C
Ans: C ) Debited to Capital A/C

3 preliminary expenses are example of :
A ) Revenue expenditure
B ) Capital expenditure
C ) Deferred Revenue expenditure
Ans: C ) Deferred Revenue expenditure

4-The process of transferring the debt debt and credit items from a journal to their respective accounts in the ledger is called :
A ) Posting
B ) Transferring
C ) Balancing
D ) Recording
Ans: A ) Posting

5-A--------is sent to a customer when he returns the goods .
A ) Debit note
B ) Credit note
C ) Invoice
D ) Quotation
Ans: B ) Credit note

6--------------is considered as the birth place of co-operation .
A ) India
B ) Sri Lanka
C ) Pakistan
D ) England
Ans: D ) England

7-The ------of a meeting are a written record of the proceedings of the meeting.
A ) Agenda
B ) Proxy
C ) Quorum
D ) Minutes
Ans: D ) Minutes

8-Every society having a net profit of Rs 1000and above shall shall set apart a sum of -------------of the net profit to the Co-operative Education Fund subject to a maximum of Rs 40000.
A ) 10 %
B ) 15 %
C ) 2 %
D ) 5 %
Ans: D ) 5 %

9-The ------------is the items to be transacted in the meeting.
A ) Minutes
B ) Quorum
C ) Proxy
D ) Agenda
Ans: D ) Agenda

10-The President and Office -bearers of the society are to be elected within ---------from the data of election.
A ) 14 days
B ) 5 days
C ) 30 days
D ) 7 days
Ans: D ) 7 days

11-The -------------is the head of administrative management of a Co-operative Society .
A ) President
B ) Registrar
C ) Secretary
D ) None of these
Ans: A ) President

12-The President of a Society is elected by the -----------from among themselves.
A ) Members
B ) Shareholders
C ) General Body
D ) Managing Committee
Ans: D ) Managing Committee

13-The chief executive of a Co-operative Society is :
A ) President
C ) Chief Accountant
D ) Secretary
Ans: D ) Secretary

14-Day to day administration and management of Society is vested with the :
A ) President
B ) Members
C ) Registrar
D ) Secretary
Ans: D ) Secretary

15-A Co-operative Society should transfer an amount not less than ---------of net profit to the reserve fund.
A ) 10 %
B ) 5 %
C ) 15 %
D ) 20 %
Ans; C ) 15 %

16-A district Co-operative Bank can appropriate an amount not exceeding ----------of the paid up capital for dividend.
A ) 30 %
B) 40 %
C ) 35 %
D ) 25 %
Ans: D ) 25 %

17-The primary credit societies are to pay the audit fees calculated on the basis of :
A ) Gross Income
B ) Total Capital
C ) Total Sales
D ) Working Capital
Ans: D ) Working Capital

18-Which of the following type of societies were exempted from the payment of audit fees ?
A ) Credit Societies
B ) Transport Societies
C ) Farming Societies
D ) Housing societies
Ans: C ) Farming Societies

19-The minimum age to become a member in a Co-operative Society is :
A ) 18 years
B ) 21 years
C ) 25 years
D ) 30 years
Ans: A ) 18 years

20-A decision on an application for membership has to be taken within --------------of its receipt .
A ) 2 months
B ) 15 days
C ) 3 months
D 30days
Ans: A ) 2 months

21-A nominal member in a society is also known as :
A ) Associate member
B ) Full -fledged member
C ) Ex-officio member
D ) None of these
Ans: A ) Associate member

22- The old name of Kerala State Co-operative Agriculture and Rural Development Bank was:
A ) Kerala Co-operative Central Land Mortgage Bank
B ) Kerala State Co-operative Consumer Federation
C ) Kerala State Co-operative Bank
D ) None of these
Ans: A ) Kerala Co-operative Central Land Mortgage Bank

23-Integrated Co-operative Development Project was launched by:
Ans: B) NCDC

24-In India Co-operation is a :
A) Central Subject
B ) State Subject
C ) National Subject
D ) None of these
Ans: B ) State Subject

25-Who is the present Minister for Co-operation in Kerala :
A) K. Sudhakaran
B ) G. Sudhakaran
C ) C. Divakaran
D ) C. N Balakrishnan
 Ans :. D) C. N. Balakrishnan
26-Who developed Double Entry Principle?
A ) Peter Drucker
B ) Kautily
C ) F.W.Taylor
D ) Luco Pacioli
Ans : D ) Luco Pacioli

27-Which of the following is an example of real account ?
A ) Salaries Paid
B) Capital Account
C ) Darwings Account
D ) Cash Account
Ans : D ) Cash Account

28-Preliminary expences is an example of :
A) Fixed Asset
B ) Ficticious Asset
C ) Current Asset
D ) Real Asset
Ans : B ) Ficticious Asset

29--------------- is called Book of Prime entry.
A) Journal
B) Ledger
C ) Trial Balalace
D ) Cash Book
Ans : A) Journal

30-Contra entries appears in :
A ) Journal
B ) Ledger
C ) Cash Book
D ) Balance sheet
Ans; C ) Cash Book

31-Which of the following errors are not disclosed by a Trial Balance ?

A ) Posting errors
B ) Casting errors
C ) Compensating errors
D ) Clerical errors
Ans: C ) Compensating errors

32-Which of the following is an example of deferred revenue expenditure ?
A ) Rent paid
B ) Carriage paid
C ) Wages paid
D ) Advertising for launching a product
Ans: D ) Advertising for launching a product

33-Statement of affairs are prepared in connection with :
A ) Single entry
B ) Double entry
C ) Company accounts
D ) Co-operative accounting
Ans: A ) Single entry

34-Wages paid in connection with installation of an asset is :
A ) Revenue Expense
B ) Capital expenditure
C ) Deferred revenue expense
D ) None of these
Ans : B ) Capital expenditure

35-Carriage outwards will appear :
A ) on the debit side of Trading A/C
B) on the debit side of Pand L A/C
C ) on the credit side of Pand L A/C
D ) on the asset side of Balance Sheet
Ans: B) on the debit side of Pand L A/C

36-opening and closing entries are passed through :
A ) Cash Book
B ) Purchases Book
C ) Sales Book
D ) Journal Proper
Ans: D ) Journal Proper

37-Bad debts recovered is :
A ) debited to P and L A/C
B ) credited to Pand L A/C
C ) debited to trading A/C
D ) shown in the Balance Sheet
Ans: B ) credited to Pand L A/C

38-Trade expenses is :
A ) debited to trading A/C
B ) debited to P and L A/C
C ) credited to trading A/C
D ) credited to Pand L A/C
Ans: B ) debited to P and L A/C

39-Revaluation method of depreciation is suitable for :
A ) Building
B ) Plant and Machinery
C ) Loose tools
D ) Furniture
Ans: C ) Loose tools

40-Which of the following asset is not subject to depreciation ?
A ) Land
B ) Plant and Machinery
C ) Computers
D ) Equipments
Ans: A ) Land

41-Payment of a bill before the due date by the acceptor is known as :
A ) Discounting
B ) Endorsing
C ) Dishonouring
D ) Retiring
Ans: D ) Retiring

42-if cost of good sold is Rs 80000 and GP.ratio is 20 % on sales ,then the sales will be :
A ) Rs 96000
B ) Rs 100000
C ) Rs 120000
D ) can not be calculated
Ans: B ) Rs 100000

43- Income received in advance will appears in the Balance Sheet :
(A) as an asset
(B) added to capita]
C ) as a liability
D ) deducted from Capital
Ans : C ) as a liability

44. Single entry system is not followed by :
A) Joint stock companies
(B) Sole traders
C ) Partnership
D ) Hindu undivided family
Ans : A) Joint stock companies

45. An error committed due to lack of knowledge of accounting is known as :
(A) casting error
(B) posting error
`C) error of principle
(D) compensating errors
Ans: C) error of principle

46. Which of the following is an example of wasting assets?
(A) Stock
(B) Patents
(C) Mines and quarries
(D) Plant and machinery
Ans: (C) Mines and quarries

47. Interest on Drawings is __________to business.
(A) an income
(B) a expense
(C) a liability
(D) none of these
Ans; (A) an income

48- Balance Sheet is :
(A) An account
(B) A statement
(C) A book
(D) None of these
Ans: (B) A statement

49-Share premium is :
A)credited to P and L A/c
B)debited to P and L A/c
C)shown on the liability side of a Balance Sheet
D)appears on the asset side of the Balance Sheet
Ans: C)shown on the liability side of a Balance Sheet

50. Bank overdraft is :
 (A) An asset
(B) Au expense
(C) An income
(D) A liability
Ans: (D) A liability

51. Difference between current assets and current liability is :
(A) owners fund
(B) working capital
(C) networth
(D) capital
Ans: B) working capital

52. Sales less cost of goods sold equal to :
(A) Net profit
(B) Gross profit
(C) Working capital
(D) Closing stock
Ans: (B) Gross profit

53- “Narration” is associated with :
(A) Balance Sheet
B) Journal
 (C) Ledger
(D) Trading Account
Ans B) Journal

54. Generally Petty Cash is maintained under :
(A) Single entry
(B) Double accounts
43) Imprest system
(D) None of these
Ans: 43) Imprest system

55. Sales Day Book contains only :
(A) Cash sales  
(B) Credit sales
(C) Consignment sales
(D) Exports
Ans: (B) Credit sales

56. Cash discount is allowed for :
(A) Prompt repayment
(B) Bulk purchases
(C) Frequent purchases
(D) None of these
Ans : (A) Prompt repayment

57. Cash in hand always shows  --------- balance.
(A) credit
(B) debit
(C) either credit or debit
(D) none of these
Ans: (B) debit

58-Closing stock is valued at :
A) Cost price
B)market price
C)average price
D)cost price or market price whichever is lower
Ans: D)cost price or market price whichever is lower

59-Nominal accounts are also known as :
(A) Real Accounts
(B) Personal Accounts
(C) Fictitious Accounts
C) None of these
Ans : (C) Fictitious Accounts

60. A cheque issued with a future date is called --------- cheque:
(A) Ante-dated
(B) Stale
(C) Mutilated
(D) Post-dated
Ans: (D) Post-dated

61--------is prepared to know the trading results of a business.
(A) Manufacturing A/c
(B) P and L A/c
C)) Trading A/c
(D) P and L Appropriation A/C
Ans: (B) P and L A/c

62. Indirect expenses are shown in the :
(A) P and L A/c
(B) Trading A/c
(C) Balance Sheet
(D) P and L Appropriation A/c
Ans: (A) P and L A/c

63. Wages and salaries are shown in :
(A) P and L A/C
B)Trading A/C
(C) P and L Appropriation A/c
(D) Balance Sheet
Ans: B)Trading A/C

64. Carriage is debited to :
(A) P and L A/c
(B) Sales A/c
(C) P and L Appropriation A/c
D) Trading A/c:

65. Reserve for discount on debtors is :
(A) credited to P and L A/c “
B) debited to P and L
(C) debited to Trading A/c
(D) credited to Trading A/C
Ans: B) debited to P and L

66----------- is the motto of co-operatives.
(A) profit
B) service
(C) wealth
(D) none of these
Ans: B) service

67. The first marketing co-operative in India was organised at :
(A) New Delhi
(B) Chennai
 (C) Kolkotta
D)  Hubli
Ans: D)  Hubli

68- -----------acts as the nodal marketing agency in the Co-operative Sector at national
Ans: (A) NAFED

69-The overall in charge of Planning and co-ordination  of the entire co-operative training 
programmes in the country is entrusted with :
Ans: (A) NCCT

71. Madras Co-operative Societies Act was enacted in the year :
(A) 1913
(B) 1956
(C) 1932
D) 1914
Ans: (C) 1932

72. Cochin Co-operative Societies Act was enacted in the year :
A) 1932
(C) 1926
(D) 1913
Ans: (D) 1913

73. Kerala Co-operative Societies Act was enacted in the year :
(A) 1956
(B) 1969
(C) 1972
(D) 1975
Ans : (B) 1969

74---------------- control is the principle of Co-operation.
(A) Centralised
(B) Democratic
(C) Autocratic
(D) None of these
Ans: (B) Democratic

75  --------- is called as the ‘Father of Co-operation :
(A) Robert owen
(B) Rajfeisen
(C) H. Plunkett
(D) H. Calvert
Ans : (A) Robert owen

76. In Kerala Co-operative Societies Act, the maximum dividend is fixed at:
(A) 10%
(B) 15%
(C) 25%
(D) 20%
Ans : (C) 25%

77. A minimum of ---  members is required for the formation of a co-operative
(A) Seven
(B) Ten
(C) Two
(D) Twenty five
Ans: (D) Twenty five

78. The members of Co-operative Society having :
(A) limited liability
(C) joint liability
(B) unlimited liability
(D) joint and several liability
Ans ; (A) limited liability

79. A co-operative society is a :
A) union of persons
(B) union of capital
(C) union of money
(D) union of entrepreneurs
Ans : A) union of persons

80. In a co~operative society  ________ is never allowed.
(A) meeting
B) proxy
(C) voting
(D) audit
Ans : B) proxy

81.Which of the following is established for promoting inter-cooperative trade at the
international level?
Ans : (C) ICA

82. Apex Society means :
(A) State level society
B) District level society
(C) Village level society
(D) National level Society
Ans : (A) State level society

83. Which of the following is a supreme authority of a co-operative society?
(A) Managing Committee
(B) General Body
(C) Ad-hoc Committee
(D) Board of Directors
Ans : (B) General Body

84-The maximum period of a Managing Committee is :
(A) three years
(B) four years
C) five years
(D) six years

85-The maximum number of members in a managing committee in the case of aprimary society is :
(A) 10
(B) 15
(C) 20
(D) 25
Ans : (B) 15

86. The maximum number of members of managing committee in the case of societies other than primary societies is :
(A) 10
(B) 15
(C) 20
(D) 25
Ans : (D) 25

87. The Ad-hoc Committee will be in power for a period of ________from  the ‘date of
registration of societies.
(A) 2months
(B) 6months
(C) 3 months
(D) 9 months
Ans : (C) 3 months

88. According to by-laws of the societies the quorum for general body is usually
(A) 1/3
(B ) 2/3
( C) 1/5
( D) 2/5
Ans : (A) 1/3

89. Responsibility to conduct the audit of all co-operatives 1s vested with the :
( A) Government
( B ) Reserve Bank of India
( C) Registrar of Co~operative Societies
( D) Comptroller and Auditor General of India
Ans: ( C) Registrar of Co~operative Societies

90. Kerala Co-operative Milk Marketing Federation was established in the year :
(A) 1956
(B) 1980
(C) 1991
(D) 1985
Ans : (B) 1980

91. A DCC Bank is a federal society of all primary societies in a :
(A) Panchayat
(B) Taluk
( C)  District 
( D) State
Ans: ( C)  District 

92. The International “Co-operative day” is celebrated on :
(A) lst Saturday of July
(B) 3rd Saturday of June
(C) lst Saturday of August
(D) 3rd Saturday of August
Ans : (A) lst Saturday of July

93. In India, we celebrate the “Co-operative Week” :
(A) From 14th to 20th November
(B) From 14th to 20th July
 (C) From 14th to 20th December
(D) From 14th to 20th January
Ans: (A) From 14th to 20th November

94- ___________ is a monthly publication brought out by the State Cmoperative Union
(A) The Kerala Co~operative Journal
(B) Co-operation Kerala
C) Co-operate
(D) None of these
Ans: (A) The Kerala Co~operative Journal

95-  is the National Bank to regulate and control the rural credit in India:
(B) Co-operative Banks
(D) Urban banks
Ans : ( C) NABARD

96. Accumulated depreciation account is shown on 1
A) the liability side of balance sheet
(B) debit side of P and L A/c
(C) credit side of P and L A/c
(D) Debit side of Trading A/c
Ans : A) the liability side of balance sheet

97. The preparation of Trial Balance helps in locating :
(A) Compensating errors
(B) Error of principle
(C) Error of partial omission
(D) Error of total omission
Ans : (C) Error of partial omission

98. Debit what comes in and credit what goes out is applicable to :
(A) Personal Account
(B) Real Account
(C) Nominal Account
(D) None of these
Ans : (B) Real Account

99. The oldest form of business organisation is :
( A)  sole proprietorship
(B) partnership
(C) companies
(D) co-operatives
Ans: ( A)  sole proprietorship

100. Which of the following is a revenue expenditure?
(A) Asset purchased
(B) Installation wages
(C) Weekly wages paid
(D) Expenditure on acquisition of goodwiAll