Food Corporation Of India General Awareness Model Questions

Food Corporation Of India Solved Questions

Management Trainee General Awareness Model Papers

1.Cash account will not be affected by—

• Cash paid to creditors
• Discount received
• Cash sales
• Cash received from debtors

2.Maximum standard Deduction for employees getting gross salary not more than Rs.100000 is allowed—

• Rs. 20000
• Rs. 25000
• Rs. 30000
• Rs. 33000

3.Tax audit is compulsory in case of a person carrying on business whose gross receipt) turnover/sales and exceeds—

• Rs. 50 Lakhs
• Rs. 40 Lakhs
• Rs. l0 Lakhs
• Rs. 25 Lakhs

4.Mr. Rastogi of Meerut was declared insolvent. One of his liabilities related to one months rent due to his landlorThis liability will be treated as—

• Preferential Creditor
• Partly Secured Creditor
• Fully Secured Creditor
• Unsecured Creditor

5.When two or more companies liquidate to form a new company. It is called—

• Amalgamation
• Absorption
• Reconstruction
• Purchase of Business

6.A, B and C are partners in a firm. If D is to be admitted to the firm as a new partner—

• Old firm has to be dissolved
• Old partnership has to be dissolved
• Both the old firm and the old partnership have to be dissolved
• No need to dissolve either firm or the partnership

7.Remington sold one typewriter to Ramesh Chandra under installment purchase system on 1st January 1996, payment for which was to be made as under—
On 01.01.1996 - Rs. 3000
On 31.12.1996 - Rs. 1700
On 31.12.1997 - Rs. 3600
On 31.12.1998 - Rs. 2300
On 31.12.1999 - Rs. 1100
Interest at 10% p.is included in each installment. The total interest charged amount to-

• Rs.2100
• Rs. 1950
• Rs. 1800
• Rs. 1700

8.The liquidator of a company is entit1edio a remuneration of 2% on assets realized, and 3% on the amount distributed to unsecured creditors. The assets realized Rs. 100000 including cash balance of Rs. 3000. Amount available for distribution to unsecured creditors before paying liquidators remui4eration was Rs. 46350 liquidator’s remuneration will be—

• Rs.3100
• Rs. 3290
• Rs.3140
• Rs. 3350

9.Exim Bank was established on—

• 1st Dec 1984
• 1st June 1985
• 1st Jan 1982
• 1st July 1980

10.For capital gain being long term capital gain, an assesses should retain the assets for a period of—

• 40 months
• 36 months
• More than 36 months
• Less than 36 months

11.The salary received by a member of parliament is—

• Exempt from Tax
• Taxable under the head of salary
• Taxable under the head of other sources
• Taxable under the lead of business

12.For the purpose of income tax it is necessary for agriculture income that—

• Land should be used for agricultural activities
• Land should be used for godown
• Land should be used for irrigation
• None of above

13.Depreciation is allowed on—

• Tangible Assets
• Current Assets
• Fixed Assets
• Intangible Assets

14.When shares are forfeited, the share capital account is debited by—

• Nominal value of forfeited shares
• Paid up amount of forfeited shares
• Called up amount on forfeited shares
• Forfeited amount of shares

15.The term ‘POIM’ for the four functions of management. Planning, organization, integration and measuring was given by.—

• F.W. Taylor
• Harold Smiddy
• Tanon Brown
• Peter F. Drucker

16.Jal durg is situated at

• Ajmer
• Aamer
• Siwana
• Gangron

17.Azolla-Anabaena Bio-fertilizer is used for crop

• Wheat
• Rice
• Mustard
• Cotton

18."Bani Thani" Painting is related to

• Bundi school
• Kishangarh School
• Chavand school
• Jaipur School

19.Which group of district has highest forest area

• Baran-udaipur, chittorgarh
• Bharatpur, jhalawar,kota
• Karauli, sirohi, dungarpur
• Banswara,dholpur,rajsamand

20.By which process the sea water can be converted into pure water

• Deliquescence
• Efflorescence
• Electric separation
• Reverse Osmosis

21.Maximum production of KHAS comes from

• Sawaimadhopur, tonk, bharatpur
• Ganganagar, dausa, alawar
• Jhalawar, Kota-Bundi
• Dungarpur-Banswara-Udaipur

22.Who represented Congress in 2nd Round table conference

• Jawaharlal nehru
• Motilal nehru
• Abdul kalam azad
• Mahatma gandhi

23.Author of "VANSA BHASKAR":

• Bankidas
• Gauri shankar ojha
• Shyamaldas
• Surajmal Mishran

24."MAITRI EXPRESS" train is introduced between

• Kolkata and dhaka
• Amritsar and lahore
• Delhi and srinagar
• Lucknow and kathmandu

25.Baxa tiger project is located at

• MP
• Rajasthan
• Gujarat
• West Bengal