Ece Dept Economics For Engineers Hu 501

41 Questions | Total Attempts: 155

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Ece Dept Economics For Engineers Hu 501

Questions and Answers
  • 1. 
    An index number is comparison in respect of
    • A. 

      Prices

    • B. 

      Physical quantities

    • C. 

      Variations arising out of difference in situations like time and place changes

    • D. 

      All the above

  • 2. 
    Modern approach to accounting equation is
    • A. 

      Assets -Expenses + Losses = Capital + Liabilities

    • B. 

      Total Assets = Liabilities + Capital

    • C. 

      Incomes + Capital - Liabilities = Assets + Expenses

    • D. 

      None of thee above

  • 3. 
    Index Numbers help in
    • A. 

      Policy formation

    • B. 

      Economic barometer

    • C. 

      Measures purchasing power

    • D. 

      Current trends

    • E. 

      All of these

  • 4. 
    The following will lead to debit balance
    • A. 

      Increase in expenses /losses

    • B. 

      Decrease in Liabilities

    • C. 

      Increase in assets

    • D. 

      All the above

  • 5. 
    Normal balance of Asset account is
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Increase in Credit

    • D. 

      None of the above

  • 6. 
    The following are accounting concept except
    • A. 

      Business separate entity

    • B. 

      Accounting period

    • C. 

      Going concern

    • D. 

      Full disclosure

  • 7. 
    Opposite of Inflation is actually
    • A. 

      Deflation

    • B. 

      Reflation

    • C. 

      Disinflation

    • D. 

      All the above

  • 8. 
    Select the right statement
    • A. 

      All long term costs are variable costs

    • B. 

      Fixed costs are only for short term

    • C. 

      Increase in Total Cost resulting from increase in level of output is Marginal Cost

    • D. 

      All of these

  • 9. 
    The costs that donot involve exchange of money is _______ cost and Costs that involve exchange of money is __________ cost
  • 10. 
    All administrative expenses should be recorded in
    • A. 

      Trading account

    • B. 

      Profit & Loss Account

    • C. 

      Balance Sheet

    • D. 

      None of the above

  • 11. 
    Formula of Index Number is
    • A. 

      (Current Year/Base Year ) X 100

    • B. 

      (Base Year /Current Year ) X 100

    • C. 

      (Base Year * 100) / Current Year

    • D. 

      None of these

  • 12. 
    Select the right entry in company books : Advanced Rs 1500 for purchase of furniture
    • A. 

      Cash A/C (Dr) To Furniture A/C (Cr)

    • B. 

      Furniture A/C (Dr) To Cash A/C (Cr)

    • C. 

      Furniture A/C (Dr) To Purchase A/C (Cr)

    • D. 

      Purchase A/C (Dr) To Furniture A/C (Cr)

  • 13. 
    The wings of fiscal policy are
    • A. 

      Government revenues

    • B. 

      Government expenditure

    • C. 

      All of these

    • D. 

      None of these

  • 14. 
    Methods of Monetary policy are
    • A. 

      Manipulating bank rate

    • B. 

      Varying percentage of cash reserve held in banks

    • C. 

      Open market operations

    • D. 

      All the above

  • 15. 
    Select the right entry in company books :Paid travelling expenses by cheque to employee
    • A. 

      Bank A/C (Dr) To Travelling Expenses A/C (Cr)

    • B. 

      Travelling expenses A/C (Dr) To Bank A/C (Cr)

    • C. 

      Cash A/C (Dr) To Expenses A/C (Cr)

    • D. 

      Employee A/C (Dr) To Bank A/C (Cr)

  • 16. 
    Causes of Inflation are
    • A. 

      Increase in money supply

    • B. 

      Increase in aggregate spending

    • C. 

      Production volume falls

    • D. 

      All the above

  • 17. 
    If there is a delay in implementation of a project it would lead to cost over-run which means
    • A. 

      Decrease in profit from the project

    • B. 

      Increase in profit from the project

    • C. 

      Increase in cost of the project

    • D. 

      Decrease in cost of the project

  • 18. 
    What is the role of Engineering Economics
    • A. 

      Examine complex problem spheres

    • B. 

      Reach economic decision

    • C. 

      Careful analysis of consequences

    • D. 

      All the above

  • 19. 
    Find the true statement
    • A. 

      All inputs in short run are fixed

    • B. 

      Some inputs in the long run are fixed

    • C. 

      Cost curves in the short run are planning curves

    • D. 

      Cost curves in the long run are operating curves

    • E. 

      None of these

  • 20. 
    How to record Bills Receivable
    • A. 

      Asset side of Balance Sheet

    • B. 

      Liability side of balance Sheet

    • C. 

      Debit of Profit and Loss account

    • D. 

      Credit of Profit and Loss account

  • 21. 
    Gross Profit is equal to
    • A. 

      Net Sales + Cost of Goods Sold

    • B. 

      Net Sales - Cost of Goods Sold

    • C. 

      Net sales - net purchases

    • D. 

      Sales - Cost of goods Sold

  • 22. 
    Find the false statement
    • A. 

      Marginal Product dimisinhes and becomes zero when total product starts declining and average product continues to decline

    • B. 

      Inferior goods are those for which demand falls when income rises

    • C. 

      The input market includes land, labour and capital market.

    • D. 

      Higher income increases the demand for inferior goods

  • 23. 
    Which of the following stake holders carry the maximum risk concerning a company?
    • A. 

      Banks and creditors

    • B. 

      Debtors

    • C. 

      Ordinary shareholders

    • D. 

      None of them

  • 24. 
    Which of the following is not a criteria to determine best alternative in rational decision making process
    • A. 

      Aim to disturb businessenvironment the least

    • B. 

      Minimise expnsiture

    • C. 

      Maximise profit

    • D. 

      All the above

  • 25. 
    A rational decision making requires assembling relevant data for
    • A. 

      Minimising benefit

    • B. 

      Maximising cost

    • C. 

      Reducisng overheads

    • D. 

      None of the above

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