Co-operative Bank Examination Expected Questions - 08

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46. Narasimham Committee (1975) recommended for the formation of :
(A) Regional Rural Banks
(B) Small Farmers Development Society
(C) Co-operative Education Fund
(D) Co-operative Union
47. The year in which the National Policy on Co-operation is declared in India :
(A) 2000
(B) 2001
(C) 1999
(D) 1988
48. Expand CRAFICARD :
(A) Committee to Review Arrangements for Institutional Credit for Agricultural and Rural Development
(B) Committee to Review Aid for Institutional Credit for Agricultural and Rural
Development
(C) Committee to Review Arrangements for Institutional Credit for Agricultural and Regional Development
(D) None of these
49. The area of activities of a Circle Co-operative Society is limited :
(A) District
(B) The Entire State
(C) Interstate
(D) Taluk level
50. Vaikunt Mehta National Institute of Co-operative Management is located at :
(A) New Delhi
(B) Bengaluru
(C) Pune
(D) Ahmedabad
51. In a Co-operative society Revenue Fund is created out of
(A) Net Profit
(B) EBIT
(C) Gross Profit
(D) Divisible profit
52. Sputnik is the first Co-operative Societies Movement in
(A) India
(B) Nepal
(C) Russia
(D) China
53. During inflation the value of currency
(A) Increases
(C) Decreases
(B) Remain constant
(D) Can't say
54. Overvaluation of closing stock at the time of preparing P & L A/c will result in _____ statement of reported profit.
(A) Fair
(B) Under
(C) Over
(D) Any of these
55. Salaries outstanding of the previous year which is paid during the year is ______ to the current year.
(A) Payment Liability
(B) Asset
(C) Income
(D) Expenditure
56. An error in accounting transaction which cannot be detected by checking the trial balance as its effect is neutralised by another error, is called :
(A) Error of principle
(B) Error of Commission
(C) Compensating error
(D) Error of omission
57. A type of goodwill which is directly relate to reputation in the name of the institution is called :
(A) Stag goodwill
(B) Dog goodwill
(C) Cat goodwill
(D) Rat goodwill
58. The fixed element of working capital is called :
(A) Hard core working capital
(B) Gross working capital
(C) Positive working capital
(D) Redundant working capital
59. Expenses due but not paid is a ______ account.
(A) Real
(B) Nominal
(C) Personal
(D) Contra
60. Convention of consistency states that :
(A) All possible losses should be taken into account on accrual basis.
(B) Same accounting principles should be followed over a series of years to make the accounts comparable.
(C) All possible profits should be taken into account on accrual basis.
(D) All possible losses and should be taken into account on accrual basis.

QUESTION NUMBER	ANSWER KEY
46	A
47	B
48	A
49	D
50	C
51	A
52	D
53	C
54	C
55	A
56	C
57	C
58	A
59	C
60	B