Lesson-1 Certificate of Excellence IBF COMMITTED TO PROFESSIONAL EXCELLENCE IBF JAIIB- Paper 2-Accounting & Finance for Bankers Important 100 MCOs- PART 1- 01-10 questions Presented By: Sahil Jain
ABOUT ME I am Presently working in State Bank of India as a Customer Associate since March 2017. Prior to SBI, I was working in Accenture India Pvt. Ltd as an Accounts Receivables am also pursuing MBA in Finance from Sikkim Manipal University as a distance education course. I completed my B.COM in 2014 from CCS University Meerut. Currently, I am preparing for Bank PO exams and other competitive exam like SSC CGL, Insurance exams etc.
Q1. According to the NPV, undertake those investments for which the NPV is: a) Positive b) Negative c) Either positive or negative d) None of these Note: NPV stands for Net Present Value
Q2. When a business earns profits these are shown in the balance sheet under which head: a) Capital b) Cash in hand c) Cash at bank d) Reserve and surplus
Q3-Loan is obtained by Mr. A for purchase of a car for Rs. 1,50,000 at 12% interest rate per annum for two years. What is the amount of weekly payment at simple rate of interest? a) 1848.51 b) 1788.46 c) 1729.06 d) 1799.06 Solution: Principal 150000 Interest(1.50 lac x 12 x 2)/ 100 = 36000 Total 1 50000 + 36000 1 86000 weekly payment: 1 86000 / 1 04 1 788.46
Q4. The depreciation method in which the depreciation is calculated on the principle that the asset loses an equal amount of value every year: a) Sum of years method b) Written down value method c) Double declining balance method d) Straight line method
Q5. A Company has a perpetual a) Profits b) Losses c) Succession d) All of the above Note: In company law, perpetual succession is the continuation of corporation's or other organization's existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or any member, or any transfer of stock etc.
Q6. Return of goods from customers of the firm should be credited to and debited to a) Customer A/c and Purchase Return A/c b) Customer A/c and Sales Return A//c c) Sales Return A/c and Customer A/c d) Purchase Return A/c and Customer A/c
Q7. Capital Account is a Account. a) Real b) Nominal c) Personal d) None of the above
Q8. Sequence of payments made at regular periods over a given time interval is called: a) Principal b) Interest c) Annuity d) None of the above
Q10. Purchase of office furniture of Rs. 2,000 has been debited to General Expenses A/c. It is: a) A Clerical error b) A mathematical error c) An error of omission d) An error of Principle
Working as an SME at Accenture since Jan 2019. Completed MBA Finance from Sikkim Manipal University as distance learning course.