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CCI Management Trainee (Accounts) Mock Test - 1 - Agriculture Exams MCQ


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30 Questions MCQ Test Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 - CCI Management Trainee (Accounts) Mock Test - 1

CCI Management Trainee (Accounts) Mock Test - 1 for Agriculture Exams 2024 is part of Cotton Corporation of India Management Trainee (Marketing & Accounts) Mock Test Series 2024 preparation. The CCI Management Trainee (Accounts) Mock Test - 1 questions and answers have been prepared according to the Agriculture Exams exam syllabus.The CCI Management Trainee (Accounts) Mock Test - 1 MCQs are made for Agriculture Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for CCI Management Trainee (Accounts) Mock Test - 1 below.
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CCI Management Trainee (Accounts) Mock Test - 1 - Question 1

Which of the following is an antonym for the word "solitary" used in the passage?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 1

The correct answer is 'Sociable'
Key Points

  • In the passage, the word "solitary" is used in the context: "Research has shown that the Mimic Octopus is a solitary creature..."
  • "Solitary" means living or going alone or without companions.
    • For example, "A solitary traveler may face many challenges on their journey."
  • The antonym "sociable" means willing to talk and engage in activities with other people; friendly.
    • For example, "He's a sociable guy who loves attending parties and meeting new people."
  • Therefore, "sociable" is the closest antonym to "solitary" among the given options.

Therefore, the correct answer is Option 3.
Additional Information

  • Alone: having no one else present; on one's own.
  • Individual: single; separate.
  • Lonely: sad because one has no friends or company.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 2

What is the typical diet of the Mimic Octopus?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 2

The correct answer is 'Small fish, crabs, and worms'
Key Points

  • According to the passage: "it can burrow itself for protection or to hunt for its prey, which includes small fish, crabs, and worms."
  • The Mimic Octopus does not eat large mammals, plankton, or seaweed.
  • Its prey primarily consists of small aquatic creatures like small fish, crabs, and worms.
  • The passage also highlights that it can burrow itself in the sand or mud to hunt for its prey.

Therefore, the correct answer is Option 3.

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CCI Management Trainee (Accounts) Mock Test - 1 - Question 3

Identify the segment in the sentence which contains a grammatical error.

Broadly speaking in layman’s language disability can be classified by two groups namely mental and physical.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 3

The erroneous part is '​can be classified by two groups'.

Key Points

  • The segment with the grammatical error is: "can be classified by two groups."
  • The corrected segment should be: "can be classified into two groups."
  • Here's the detailed explanation: The phrase "classified by" suggests that the action is performed by the groups themselves, which isn't the intended meaning. The correct usage is "classified into," which implies that the disability is categorized or divided by an external action or process into two groups, namely mental and physical.

So, the corrected sentence would be: "Broadly speaking in layman’s language, disability can be classified into two groups, namely mental and physical."

CCI Management Trainee (Accounts) Mock Test - 1 - Question 4

Directions: Each of the following sentences in this section has a blank space with four options. Select whichever preposition or determiner you consider the most appropriate for the blank space and indicate your response on the Answer Sheet accordingly.

His critique ___ the novel was both harsh and enlightening.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 4
The correct answer is Option 1 i.e. of.
Key Points
  • The preposition "of" is correctly used to indicate possession or relation, which fits the context of the critique pertaining to the novel.
  • The prepositions "on," "about," and "over" could be used in different contexts but are not as specific as "of" in indicating a direct critique of the novel's content or style.
  • Choosing the correct preposition is crucial for the clarity of the sentence and to accurately convey the intended meaning.
  • Understanding the use of "of" in this context helps to clarify that the critique was specifically directed at the novel itself.
Therefore, the correct answer is- of.
Additional Information
  • On is often used to indicate a subject or topic of something, but it is more general than "of" in this context.
  • About is used for talking about a subject broadly, not specifically targeting the critique of the novel's content.
  • Over can indicate discussions or arguments about something but does not specifically imply a critique or evaluation as "of" does in this context.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 5

Select the most appropriate article to fill in the blank. Select 'No article' if no article is required.

He intends to become ______ politician once he completes his education.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 5

The correct answer is "a".

Key Points

  • In this sentence, the person mentioned has a general intention of becoming a politician.
  • We're not specifying which politician, or a particular role, so we use the indefinite article 'a'.

Thus, the correct answer is "Option 1".

Therefore, the sentence should read, "He intends to become a politician once he completes his education."

CCI Management Trainee (Accounts) Mock Test - 1 - Question 6

Directions: Each item in this section consists of a sentence with an underlined word followed by four words/groups of words. Select the option that is nearest in meaning to the underlined word and mark your response on the Answer Sheet accordingly.

The team's cooperation was crucial to the project's success.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 6

The correct answer is: Option 1.

Key Points

  • The word "crucial" means extremely important or necessary for the success or functioning of something. (अत्यंत महत्वपूर्ण)
    • Example: Her role in the project was crucial for meeting the deadline.
  • "Critical" refers to something that is of great importance or essential to the outcome. (महत्वपूर्ण)
    • Example: It is critical to follow safety protocols in a laboratory.
  • Hence, we can infer that the word 'crucial' is nearest in meaning to 'critical'.

Therefore, the correct answer is: Option 1.

Additional Information

Here are the other options explained along with their Hindi meanings and example sentences:

  • Unimportant (महत्वहीन): Not significant or worthy of consideration.
    • Example: The minor errors in the report were unimportant to the overall findings.
  • Unnecessary (अनावश्यक): Not needed or required.
    • Example: Adding more details to the already comprehensive plan seemed unnecessary.
  • Trivial (तुच्छ): Of little value or importance.
    • Example: They quarreled over trivial matters, which could have been easily resolved.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 7

Study the given pie-chart and answer the question that follows.

Percentage - wise distribution of teachers in six different subjects in a school is given in the pie - chart. The total number of teachers is 600. The ratio of male and female teachers is 3 ∶ 1.

Find the ratio of teachers in English, Sanskrit and Hindi to teachers in Mathematics, Biology and Social Studies.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 7

Calculation:
Total percentage of teachers in English, Sanskrit, and Hindi = 20 + 10 + 10 = 40%
Total percentage of teachers in Mathematics, Biology, and Social Studies = 20 + 20 + 20 = 60%
Required ratio = 40 : 60 = 2 : 3

∴ The required answer is 2 : 3.

CCI Management Trainee (Accounts) Mock Test - 1 - Question 8

'A + B' means 'A is the son of B'.
'A - B' means 'A is the mother of B'.
'A × B' means 'A is the father of B'.
'A ÷ B' means 'A is sister of B'.
If J ÷ K × L + M – N, then which of the following statements is not correct?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 8

Family Chart:

Decoding the Symbols:


Given: J ÷ K × L + M - N
It means: J is the sister of K, K is the father of L, L is the son of M, M is the mother of N.

Option 1) K is father of N - True
Option 2) K is Husband of M - True
Option 3) J is mother of L - False (Because,, J is the aunt of L)
Option 4) L is Brother of N - True

Hence, the correct answer is "Option 3".

CCI Management Trainee (Accounts) Mock Test - 1 - Question 9

Two statements are given followed by two conclusions numbered I and II. Assuming the statements to be true, even if they seem to be at variance with commonly known facts, decide which of the conclusions logically follow(s) from the statements.
Statements:
Some plates are cups.
All cups are spoons.
Conclusions:
I. Some spoons are plates.
II. All spoons are plates.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 9

Statements:
Some plates are cups.
All cups are spoons.
The Venn diagram as per the given statements:

Conclusions:
I. Some spoons are plates. Follow (Because some plates are cups and all cups are spoons, which means some spoons are plates is definitely true)
II. All spoons are plates. Not follow (Because some plates are cups and all cups are spoons, which means all spoons are plates can be possible but not definitely true)

Hence, the correct answer is "Only conclusion I follow".

CCI Management Trainee (Accounts) Mock Test - 1 - Question 10

The following pie chart shows the expenditure of a country on various sports during a particular year. Study the graph and answer the question that follows.

Approximately how much percentage less is spent on Kabaddi than on Cricket?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 10

Calculation
The percentage spent on kabaddi = 9%
The percentage spent on Cricket = 22%
Less% = (22 - 9)/22 × 100
= 13/22 × 100
= 59%(approx.)
The answer is 59%.

CCI Management Trainee (Accounts) Mock Test - 1 - Question 11

Kartik started a business with an investment of Rs.54000 and after some time, Aryan joined him with an investment of Rs. 45000. At the end of the year, total profit was Rs 35700 and share of Kartik in the total profit is Rs 22950. Find after how many months Aryan has joined the business.

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 11

Given:
Investment of Kartik = Rs.54000, for 1 year
Investment of Aryan = Rs. 45000
Total profit = Rs. 35700
Kartik's profit = Rs.22950
Concept used:
Profit = Investment × Time period
Calculation:
Let Aryan invest for x months.
According to the question, Kartik's share in total profit = Rs. 45900
∴ Aryan's share = 35700 - 22950 = Rs.12750
Ratio of profit share of Kartik and Aryan = (54000 × 12)/(45000 × x) = 22950/12750
∴ 54*12/(45 × x) = 22950/12750
⇒ 54*12/(45 × x) = 153/85
⇒ x = 8
∴ Aryan joined after 12 - 8 = 4 months.
Alternate Method
Ratio of investment of Kartik and Aryan = 54000 : 45000 = 6 : 5
Ratio of time period = 12 :(12-x)
The ratio of profits of Kartik and Aryan = 22950 : 12750 = 9 : 5
Now, Time of investment = Profit/Investment
⇒ 12/(12 - X) = (9/5) ÷ (6/5)
⇒ 12/(12 - X) = 9/5 × 5/6
⇒ 12/(12 - X) = 3/2
⇒ x = 4 months
Investement period for Aryan = 12 - x = 12 - 4 = 8 months
∴ Aryan joined after 4 months.

CCI Management Trainee (Accounts) Mock Test - 1 - Question 12
On a tree, there are some parrots and pigeons in the ratio of 7 ∶ 9. After an hour 8 parrots fly and 6 pigeons and 10 sparrows come on the tree. The ratio of parrots and pigeons now is 1 ∶ 4. Now, what is the ratio of parrots to sparrows?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 12

Given:

On a tree, there are some parrots and pigeons in the ratio of 7 ∶ 9.

After an hour 8 parrots fly and 6 pigeons and 10 sparrows come on the tree. The ratio of parrots and pigeons now is 1 ∶ 4.

Calculation:

Case 1:

Number of parrots = 7x

Number of pigeons = 9x

Case 2:

Number of parrots = 7x - 8

Number of pigeons = 9x + 6

Number of sparrows = 10

According to the question,

⇒ (7x - 8)/(9x + 6) = 1/4

⇒ 28x - 32 = 9x + 6

⇒ 19x = 38

⇒ x = 2

Number of parrots in new scenario = 7x - 8 = 6

The ratio of parrot and sparrow = 6 : 10 = 3 : 5

Therefore, "3 : 5" is the required answer.

CCI Management Trainee (Accounts) Mock Test - 1 - Question 13

On Selling a watch at 4/5 of the marked price there is a loss of 10 percent. What will be the ratio of the marked price and cost price of the watch?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 13

Given:
Selling price = 4/5 of the marked price
Loss percentage = 10%
Formula:
Profit or Loss percentage = (Actual difference between the Selling price and Cost price / Cost price) x 100%
Selling price = Cost price + Profit
Calculation:
Let the marked price of the watch be M and the cost price be C.
According to the question, the selling price is 4/5 of the marked price. Therefore,
Selling price = 4/5 × M
Since there is a loss of 10%, the selling price will be 90% of the cost price. Therefore,
Selling price = 90% of Cost price
= 0.9C
Equating the above two expressions for the selling price, we get:
4/5 × M = 0.9C
Simplifying the above expression, we get:
M = (9/8) × C
The ratio of the marked price and cost price of the watch is given by:
M/C = (9/8)
Therefore, the required ratio is 9 : 8.
Alternate Method
Discount% = 20%
So
MP : SP
100 : 80
And
Loss% = 10%
SP : CP
90 : 100
So combine the ratio

9000 : 7200 : 8000
MP : CP = 9 : 8

CCI Management Trainee (Accounts) Mock Test - 1 - Question 14

The sum of cube of 3 numbers that are in the ratio 4 ∶ 5 ∶ 6 is 50625 . What are the numbers?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 14

Given:
The sum of cube of 3 numbers that are in the ratio 4 ∶ 5 ∶ 6 is 50625
Calculation:
Let, the three numbers be 4m, 5m and 6m.
According to the question,
⇒ (4m)3 + (5m)3 + (6m)3 = 50625
⇒ (64 + 125 + 216)m3 = 50625
⇒ m3 =
⇒ m3 = 125
⇒ m = 5
⇒ 4m = 2
⇒ 5m = 25
⇒ 6m = 30
∴ The numbers are 20, 25, 30.

CCI Management Trainee (Accounts) Mock Test - 1 - Question 15
Kanheri caves are located in ________.
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 15

The correct answer is Mumbai.

Key Points

  • Kanheri Caves
    • Buddhist caves are popularly known as the Kanheri Caves.
    • Kanheri, known as Krishnagiri or Kanhagiri in an ancient inscription, literally means black mountain (Krishna means black and Giri is a mountain)
    • It is mostly named after its black basaltic stone
    • Kanheri Caves are part of the Sanjaya Gandhi National Park of Mumbai
    • There is a large Vihara (prayer hall) and stupas in the caves
    • Buddhist shrines feature Buddhist paintings and carvings on them.
    • There are more than 30 unfinished paintings of Buddha.
    • The Kanheri Caves have a complex system of water harvesting, which leaves the discerning visitor awestruck.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 16

Which among the following sites of Harappan culture are located at the head of the Gulf of Cambay (Gulf of Khambhat)?

Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 16

The correct answer is Lothal

Key Points

  • ​The Indus Civilization city Lothal is in the Gujarat state of India.
  • Lothal was one of the southernmost cities of the ancient Indus Valley Civilization.
  • Lothal is located between the Sabarmati river and its tributary Bhogavo, in the Saurashtra region.
  • Lothal which is a Harappan site is located at the head of the Gulf of Cambay (Gulf of Khambhat). Hence option 3 is correct.
  • Features of Lothal:
    • ​Evidence of double burial
    • Remains of Rice Husk
    • Evidence of terracotta figurine of a horse
    • Dockyard
    • Terracotta model of a ship

CCI Management Trainee (Accounts) Mock Test - 1 - Question 17
In the context of business acquisitions, goodwill arises when the purchase price of a company exceeds the fair value of its:
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 17
Goodwill is the excess of the purchase price over the fair value of the net identifiable assets (tangible assets plus identifiable intangibles, net of liabilities).
CCI Management Trainee (Accounts) Mock Test - 1 - Question 18
Which of the following terms is used to describe the finance needed to acquire land, buildings, and other fixed assets of a business concern?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 18
Long-term financial requirement, also known as fixed capital requirement, refers to the finance needed to acquire fixed assets like land, buildings, and machinery. It is used for capital expenditures that are essential for the business's operations in the long run.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 19
Which of the following is NOT an objective of internal control?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 19
While internal control aims to prevent fraud, it cannot guarantee the prevention of all types of fraud. It focuses on minimizing the risk of fraud through control measures.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 20
What is the liability of the enriched party in a quasi-contract?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 20
In a quasi-contract, the liability of the enriched party is limited to the value of services rendered or the cost of the goods used or delivered. The concept of a quasi-contract aims to prevent unjust enrichment, so the liability is limited to the amount of benefit received.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 21
When a company issues its shares at a premium, what account is credited with the premium amount?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 21
When a company issues its shares at a premium, the premium amount received is credited to the "Securities Premium A/c." This account represents the amount received over and above the face value of the shares.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 22
What legal process is generally required when a company wishes to reduce its share capital?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 22
Reducing share capital is a sensitive issue as it affects the rights and interests of creditors. Thus, a court or tribunal's approval is generally required for such actions to ensure fair treatment to all stakeholders.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 23
Which method estimates Working Capital requirements based on the past relationship between Sales and Working Capital?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 23
The percent of sales method estimates Working Capital requirements by analyzing the historical relationship between Sales and Working Capital. By calculating the ratio of Sales to Working Capital from past data, this method provides an estimate of the Working Capital needed for future sales.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 24
What is the primary objective of an annual general meeting?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 24
The primary objective of an annual general meeting is to review the company's financial statements, discuss its financial performance, and make decisions related to its management.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 25
How does labour turnover affect production cost?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 25
Labour turnover increases the cost of production due to various reasons. It increases the cost of selecting/replacing workers, the cost of training imparted to new workers, and results in production loss due to improper execution of production planning. Additionally, it can also lead to losses due to defectives and wastage, mishandling of tools and equipment, and breakages.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 26
What is the term for a budget that remains fixed over a given period and does not change with the change in the volume of production or level of activity attained?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 26
A fixed budget is a budget that remains fixed over a given period and does not change with the change in the volume of production or level of activity attained. It does not provide for any changes in expenditure based on changes in activity levels.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 27
Which type of debenture holders have the option to convert their debentures into equity shares after a specific period?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 27
Convertible debenture holders have the option to convert their debentures into equity shares after a specific period. This allows them to potentially benefit from the company's growth and increase in share value.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 28
When is a blanket overhead rate used?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 28
A blanket overhead rate is used when only one major product is being produced continuously. In such cases, there is no need for differentiation between products or departments, and a single rate can be applied to the entire factory. Therefore, the correct answer is option B.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 29
In the case of services, when does the time of supply occur if tax is liable to be paid on a forward basis?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 29
In the case of services where tax is liable to be paid on a forward basis, the time of supply occurs at the earliest of the following dates: Date of issue of invoice by the supplier.
CCI Management Trainee (Accounts) Mock Test - 1 - Question 30
Which objective of financial statements provides information about the earning potentials of a business?
Detailed Solution for CCI Management Trainee (Accounts) Mock Test - 1 - Question 30
One of the objectives of financial statements is to provide financial information that assists in estimating the earning potentials of a business. This information helps shareholders, potential shareholders, and other interested parties to assess the profitability and future prospects of the business.
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