Lesson-1 Certificate of Excellence IBF COMMITTED TO PROFESSIONAL EXCELLENCE IBF JAIIB- Paper 2-Accounting & Finance for Bankers mportant 100 MCOs- PART 2 -51-60 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.
Q51. A firm purchased machinery worth Rs. 2,30,o0o and spent Rs. 15,000 on its installation. Its expected useful life is 5 years, when its scrap value will be Rs. 45,000. What is the amount of annual depreciation? a) 2500o b) 33000o c) 3800<o d) 4000oo Solution: Total amount of machinery Rs 2,30,00o 15,0oo - Rs 2,45,000 - Rs 45,oo0 Scrap vale after 5 years Remaining amount Deprecation for 1 years Rs 2,00,000 Rs 2,0o,ooo/5 Rs 40,ooo
Q52. Which is not one of the approaches proposed for measurement of operational risks? a) Basic Indicator Approach b) Standardised Approach c) Advanced Measurement d) Internal Rating Based Approach Note: Internal Rating Based Approach is used for measurement of Credit Risk
Q53. Mr. A wants to receive a fixed amount for 15 years by investing Rs. 9 Lakhs at 9% interest rate. How much he will receive annually? a) Rs. 1,11,653 b) Rs. 2,22,653 c) Rs. 1,51,653 d) Rs. 251,653 Solution: Annuity PV r1(1+) R is the amount per payment period, n no. of periods, r rate per period 900000 x (0.09)/ ( 1-(1 (1+0.09)15) Rs.111653
Q54. Current Liabilities are those which are to be paid a) Within 2 years of the balance sheet. b) Within one month from the date they arise c) Within 1 year from the balance sheet date. d) None of the above.
Q55. A and B share profit in the ratio of 4/5th and 1/5th, C is admitted for share. The profit sharing ratio will be a) 5:4:1 b) 1:4:5 c) 4 5:1 d) 4 1:5 Solution: C admitted for 1/2th share. Hence the remaining 1/2th share will be divied between A and A new share: 1/2 X 4/5 = 4/10 B new share: 1/2 X 1/5-1/10 C Share :1/2 New share :4:1:5 = 5/ 10
Q56. A limited company is a/an person a) Original b) Artificial c) Duplicate d) None of the above
Q57. Which of the following can't be taken as Proof of Identity? a) Voter ID b) Aadhar Card c) Ration Card d) Driving License
Q58. A company incorporated outside India but has a place of business in India is termed as a) Statutory company b) Holding Company c) Subsidiary Company d) Foreign Company Solution: Statutory corporation are public enterprises brought into existence by a Special Act of the Parliament A holding company is acompany that owns other companies' outstanding stock. A subsidiary company is a company that is owned or controlled by another company which is called the parent company
Q60. Which of the following of the journal or ledger given under is not correct? a) Journal is a book of original entry b) Journal is a book of analytical record. c) Ledger is a book of secondary record. d) Process of recording of transaction in ledger is called posting.
Working as an SME at Accenture since Jan 2019. Completed MBA Finance from Sikkim Manipal University as distance learning course.