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Old 19th August 2014, 12:55 PM
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Default Institute of Cost Accountants of India Foundation exam previous year question papers

Will you please share with me the Institute of Cost Accountants of India Foundation exam previous year question papers?
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Old 19th August 2014, 02:39 PM
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Default Re: Institute of Cost Accountants of India Foundation exam previous year question pap

As you want to get the Institute of Cost Accountants of India Foundation exam previous year question papers so here it is for you:

Section A: Fundamentals of Economics [50 marks]

Q1. Micro economics theory deals with
(a)Economic behavior of individual economic decision making units
(b)Economy as a whole
(c)Trade relations
(d)Economic growth of the society

Q2. Normative economic theory deals with
(a)What is or how the economic problem facing the society are solved
(b)How the problem should be solved
(c)What to Produce
(d)How to produce

Q3. Market equilibrium of a commodity is determined by
(a) Balancing of demand and supply position
(b) Aggregate demand
(c) Aggregate supply
(d) Government intervention

Q4. Economic resources are
(a)Unlimited
(b)Limited in supply and use
(c)Limited in supply but have alternative uses
(d)Unproductive

Q5. Which of these is not land in economics
(a)Tehri Dam
(b)Forest reserves of Assam
(c)Fish reserves in the Bay of Bengal
(d)Herbal plant of Uttaranchal

Q6. Capital in economics means
(a)Factor of production
(b)Fund brought in by the entrepreneur
(c)Investment in shares, bank deposits
(d)All the above.

Q7. A perfectly elastic supply curve will be
(a)Parallel to Y axis or a vertical line
(b) Parallel to X axis
(c)U shaped
(d)Downward sloping.

Q8. When the Demand curve of a pure monopoly firm is elastic, MR will be
(a)Negative
(b)Positive
(c)Zero
(d)Any of the above

Q9. Oligopoly market is known for ……………..
(a)Price flexibility
(b)Price rigidity
(c)Price discrimination
(d)All the above.

Q10. In a competitive market ……………….. is the price taker
(a)Firm
(b)Industry
(c)Consumer
(d)Trade association.

Q11. National income is the ………of all the goods and services produced by a country during a period of year
(a)Physical quantity
(b)Money value
(c)`Value
(d)All the above.

Q12. Choose the correct statement
(a)GPD at fc = GPD mp - IT + S
(b)GPD at fc = GDP mp - IT – S
(c)GDP at fc = GDP mp + IT + S
(d)GDP at fc = GDP mp + IT - S.

Q13. Which of these items are excluded in the computation of National Income under value added method?
(a)Own acquired fixed assets by the Government enterprises, Govt. and household
(b)Production for self-consumption
(c)Imputed rent for own occupied house
(d)All the above.

Q14. In agricultural sector net value added is estimated by
(a)Income method
(b)Expenditure method
(c)Production method
(d)All the above.

Q15. In a closed economy
(a) GDP=GNP
(b) GDP>GNP
(c) GDP<GNP
(d) All the above three are possible.

Q16. Which is the apex bank for agricultural credit in India?
(a)RBI
(b)SIDBI
(c)NABARD
(d)IDBI.

Q17. Which of the following is near money?
(a)Bill of exchange
(b)Saving bonds
(c)Gilt edged securities
(d)All the three.

Q18. If the country is passing through recession, the RBI would
(a)Buy bonds
(b)Reduce CRR
(c)Ease out bank rate
(d)All or any of the above three.

Q19. Which of these affects the demand for money?
(a)Real income
(b)Price level
(c)Rate of interest
(d)All the above.

Q20. If someone keeps some money for bad days, this demand for money is known by ……. motive of money
(a)Speculative
(b)Transaction
(c)Precautionary
(d)Store

Q21. Which of the following is not a characteristic of Indian Economy?
(a)Low per capita income
(b) Equal distribution of wealth
(c)Population pressure
(d)Low level of technology.

Q22. Barren land covers -----------% of total reporting area.
(a) 22
(b) 35
(c)14
(d) 41.

Q23. EXIM Bank was established in
(a)Jan. 1982
(b)March 1984
(c)Feb. 2001
(d)August 1975.

Q24. RBI was nationalized in
(a)June 1947
(b)Jan. 1949
(c)March 1954
(d)April 1936.

Q25. Which of these is not the function of IMF?
(a)It provides mechanism for orderly adjustment of exchange rate
(b)It provides mechanism for international consultation
(c)It provides forum for settlement of international trade disputes
(d)It is a reservoir of the currencies of all the member countries

Section B: Fundamentals of Management [50 marks]

Q26. Who is a person who advanced early scientific management principles?
(a)Weber
(b)Taylor
(c)Vest
(d)Fayol

Q27. ________ is the study of how to create an organizational structure that leads to high efficiency and
effectiveness.
(a)Scientific management
(b)Job specialization
(c)Administrative management
(d)Allocation management
Q28. The management process functions consist of
(a) Planning, organising, staffing and directing
(b) Planning, organising, leading and directing
(c) Planning, organising, leading and staffing
(d) Planning, organizing, leading and controlling.

Q29. Planning is based on:
(a) Decision-making,
(b) Forecasting,
(c) Staffing,
(d) Organizing.

Q30. Forecasts
(a)Become more accurate with longer time horizons
(b)Are rarely perfect
(c)Are more accurate for individual items than for groups of items
(d)All of the above.

Q31. Line organization is also known as _____________ organization.
(a) Scalar
(b) Chain
(c) Matrix
(d) Project.

Q32. Staffing needs:
(a) Man power planning,
(b) Authority,
(c) Communication,
(d) Coordination.

Q33. The characteristics of direction include:
(a) Guiding,
(b) Motivating,
(c) Planning,
(d) Performance appraisal.

Q35. Which of the following is an example of a nonverbal message?
(a) Eye contact
(b) Yelling
(c) Mumbling
(d) Jargon.

Q36. Effective control requires:
(a) Flexibility
(b) Rigidity
(c) High cost
(d) High time.

Q37. Leadership has a lot of characteristics and a leader must not maintain this trait in his behaviour:
(a) Coexistence,
(b) Taking responsibility,
(c) Avoiding responsibility,
(d) All of the above.

Q38. Which step in Maslow's Hierarchy of Needs Theory deals with achieving one's potential?
(a) Esteem
(b) Physiological
(c) Self-actualization
(d) Social.

Q39. Role _________________ is a conflict between the role an individual has outside the group and the role he or
she is expected to have in the group.
(a) Collision
(b) Transition
(c) Confusion
(d) Incompatibility.

Q40. Which one of the following characteristics is not necessarily true about groups?
(a) Group members are interdependent
(b) Groups have two or more members
(c) Groups have assigned goals
(d) Groups interact.

Q41. When do informal groups appear?
(a) in response to the need for social contact
(b) in reaction to formal groups
(c) as a result of social needs
(d) most frequently in bureaucracies

Q42. A suitable basis of departmentation is decided considering
(a)Specialization of work
(b)Customers
(c)Control
(d)Top management.

Q43. Minority influence can
(a)Never sway the majority of the group members to the other point of view.
(b)Steer other group members who hold the majority view over to the minority point of view.
(c)Decrease creativity.
(d)Increase superficiality.

Q44. Leadership is the process whose important ingredient is the _____________ exercised by the leaders on the
group members.
(a)Friendship
(b)Loyalty
(c)Trust
(d)Influence.

Q45. Employee walk-ins is a type of
(a)Internal source of recruitment
(b)External source of recruitment
(c)Both of the above
(d)None of the above.

Q46. PODSCORB stands for
(a)Planning, organising, staffing, directing ,controlling ,reporting ,budgeting
(b)Planning, organising, staffing, directing ,controlling ,rectifying, budgeting
(c)Planning, ordering, staffing, directing ,controlling ,reporting ,budgeting
(d)Planning, organising ,staffing ,directing ,controlling ,recruiting ,budgeting.

Q47. Who among the following proposed the concept of functional authority?
(a)Chris Argyris
(b)Max Weber
(c)F. W Taylor
(d)Elton Mayo.

Q48. The situational theory is also known as ………………..
(a)Trait theory
(b)Transactional theory
(c)Contingency theory
(d)Behavioural theory.

Q49. Who among the following is regarded as the Father of motion study?
(a)Lillian Gilbreth
(b)Charles Babbage
(c)Henry Grant
(d)Frank Gilbreth.

Q50. Managers refer to strategic plans as..................
(a)Goal setting.
(b)Organisational planning.
(c)Functional planning.
(d)Action plans.

Contact Details:
The Institute of Cost Accountants of India
Patrakar Puram Rd,
Vikas Khand 1,
Vikas Khand,
Gomti Nagar,
Lucknow,
Uttar Pradesh 226010 ‎
India

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