List of practice Questions

State the meaning of autonomous and accommodating items, under Balance of Payments of India, with the help of an example.
“Disposition Phase of circular flow of Income involves flow of factor Income, which comprises of rent, wages, interest, and profits from firms to households.” Defend or refute the statement, giving valid reasons in support of your answer.
Estimate the value of Net National Product at Factor Cost (NNP\(_{FC}\)), using the following information: 
value of Net National Product at Factor Cos
Arrange the following in the correct sequential order, if the government of a nation is trying to curtail the situation of inflationary gap:
(i) Decrease in disposable income
(ii) Increase in taxes
(iii) Decrease in Aggregate Demand
Read the following statements carefully: 
Statement 1: Consumption and Savings are the components of National output of an economy.
Statement 2: Higher level of Income often leads to lower savings.
In the light of the given statements, choose the correct alternative from the following:
From the given table, identify that level of income, where Average Propensity to Save (APS) becomes Zero. (Choose the correct alternative.) 
verage Propensity to Save (APS) becomes Zero
Read the following statements—Assertion (A) and Reason (R). Choose one of the correct alternatives given below: 
Assertion (A): Real Gross Domestic Product is a better indicator of economic growth of a nation as compared to Nominal Gross Domestic Product.
Reason (R): Real Gross Domestic Product measures the value of goods and services at current year prices.
 
Identify the it{incorrect feature(s) of the Money Supply in an economy, from the following:}

(i) It is measured during a period of time.
(ii) It includes stock of money held by the government of a nation.
(iii) It always represents the currency held with the Central Bank of the nation.
Under the ________ Exchange Rate System, the Central Bank can control the rise/fall of foreign exchange rate in a range-bound manner. (Fill up the blank with the correct alternative.)
If a straight-line consumption function makes a positive intercept at the Y-axis, it implies that the Marginal Propensity to Consume _____ and the Average Propensity to Consume _______ as the level of income rises. (Fill up the blanks with the correct alternative.)
Identify, which of the following is not a source of demand for foreign exchange for the Indian economy? (Choose the correct alternative.)
The Central Bank can reduce the Money Supply in the economy by ______ the _______. (Fill up the blanks with the correct alternative.) 
 
Read the following statements—Assertion (A) and Reason (R). Choose one of the correct alternatives given below: 
Assertion (A): Ceteris Paribus, Devaluation of domestic currency leads to an increase in National Income of a nation. 
Reason (R): Devaluation of domestic currency refers to reduction in the value of domestic currency with respect to foreign currency, under the fixed exchange rate system. 
 
From the given ‘VLOOKUP’ syntax, find out the error and its reason using the worksheet: 
‘VLOOKUP’ syntax,
(i) = VLOOKUP(B5, C3:F10, 2, 0) 
(ii) = SQRT(VLOOKUP(B3, B3:F10, 2, 0) - 100) 
(iii) = VLOOKUP(B2, B3:F10, 5, 0) 
(iv) = VLOOKUP(B3, B3:B10, 2, 0) 
(v) = VLOOKUP(B6, B3:F10, 0, 0) 
(vi) = VLOOKUP(B6, B3:F10, 2, 0)/0 
 
Explain the steps to define ‘Print area’ using Dialog box.
List the points of nomenclature used in Excel for charts/graphs.
Explain various ‘Data tables’ used in Pivot Table.
How can \(\#DIV/0!\) error be corrected?
To safeguard assets and optimize the use of resources a business .......
Which of the following is not a limitation of the computerized accounting system?
Which chart has depth axis?
Which type of software package is suitable for an organization where the volume of accounting transactions is very low and adaptability is very high?
Depreciation is generated from which of the following Accounting information system?
“A value or function or an arithmetic expression is recorded in ........”
From the following Balance Sheet of Yogita Ltd., calculate ‘Cash flows from Investing Activities’ and ‘Cash flows from Financing Activities’. Show your working properly.
Yogita Ltd.,
Yogita Ltd.,
Additional Information: 
(i) rupee50,000 was charged as depreciation on Plant and Machinery. A machinery costing rupee60,000 (Book Value Rupees 45,000) was sold for Rupees 42,000. 
(ii) Bank loan was repaid on 1st April, 2022.