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Interpersonal communication occurs only when
an individual converses with people they have no interest in knowing.
an individual interacts with another person as a unique individual.
intimate conversation takes place.
three or more people are communicating with each other at the same time.

What is "context"?
An interference with message reception
A physical and psychological environment for conversation
Verbal and nonverbal responses to messages
Effective communication

Encoding is important because it
eliminates noise.
encourages listener feedback.
Produces messages.
guarantees that one's message will be decoded.

The accounting process involves in recording:
Quantifiable economic event
Non quantifiable economic event
All of them
None of them

Identify the correct sequence of accounting process
Communicating?Recording?Identifying
Recording?Communicating?Identifying
Identifying?communicating?recording
Identifying?recording?communicating

An asset must be _______ by the business to be shown as an asset in its "balance sheet"
Possessed
Owned
Controlled
Used

What is the basic accounting equation?
Capital+Liabilities=Assets
Assets+ liabilities =Capital
Capital+assets=liabilities
Liabilities+Capital

What is the current SLR requirements of banks?
40% of NDTL
30% of NDTL
23.5% of NDTL
22% of NDTL

State Bank of India is maintaining account in Japanese Yen with American Express Bank, Tokyo. It is known as:
Vostro Account
Nostro Account
Loro Account
Escrow Account

What is the CRR currently prescribed by RBI ?
5%
6%
4%
3%

To increase a given future value, the discount rate should be adjusted __________.
Upward
Downward
First Upward and then downwards
None of the above answers are correct; you should use PVIF.

You are considering borrowing Rs.100,000 for 30 years at a compound annual interest rate of 9 percent. The loan agreement calls for 30 equal annual payments, to be paid at the end of each of the next 30 years. (Payments include both principal and interest.) What is the annual payment that will fully amortize the loan?
Rs.3,333.33
Rs.6,400.30
Rs.9,733.63
Rs.12,333.33

Interest paid (earned) on only the original principal borrowed (lent) is often referred to as __________.
present value
simple interest
future value
compound interest

A message is a signal that serves as
stimuli for a speaker.
stimuli for a mass audience.
stimuli for a receiver.
noise reduction.

You expect to deposit the following cash flows at the end of years 1 through 5, Rs.1,000; Rs.4,000; Rs.9,000; Rs.5,000; and Rs.2,000 respectively. What is the future account value at the end of year 6 if you can earn 10% compounded annually?
15,633.62
21,000.00
25,178.10
27,695.91

He _____ from London
is
are
am
be

What is …….. dog called?
him
her
them
you

Which of the following statements is incorrect?
There is no difference in law between an offer and an invitation to treat.
An offer is a set of terms by which the offeror is willing to be bound.
In bilateral contracts the parties exchange promises.
Acceptance in contract may take effect through conduct and need not necessarily be communicated.

Where a contract does not stipulate an expiry date, it will remain open:
forever, until accepted by the offeree.
until expressly revoked by the offeror.
until a counter-offer is made.
for a reasonable time, after which it will automatically expire.

The adequacy of the consideration provided in an agreement in establishing an enforceable contract is:
assessed by reference to the 'reasonable man'.
assessed in relation to the consideration provided and an independent assessment of the value of the item being contracted for.
what the court considers is adequate.
a matter for the parties to consider at the time of making the agreement.

Which of the following is NOT effective communication of acceptance of an offer?
Deviation (which is a quicker form) from the method stipulated in the offer
Silence
Conduct of the contract
Outward evidence of the offeree's intention to accept

An intention to create legal relations will be presumed in which of the following situations?
a) Between friends and social acquaintances
Between husband and wife
Where parties in a commercial relationship have established the agreement between them is 'in honour only'
Between parties in a commercial relationship

Can partners enter into contract with the firm?
Yes
No

Which of the following instrument is negotiable?
I promise to pay P P 10,000.00 ten days after the death of his grandfather? (Sgd.M)
Pay to the order of Superman P 10, 000.00 and reimburse yourself out of money in your possession? (Sgd. D, addressed to X)
Ten days after passing the 2011 Bar Exams, I promise to pay P or order P 10,000.00? (Sgd. M)
Pay to the order of P the amount of P 10, 000.00 (Sgd. D, addressed to X or Y

Who can sue in negligence for injury caused by a defective product?
Only someone who was known to the person who supplied the product.
Only the person who bought the product.
Anyone who is injured by a defective product, as a result of someone else's negligence.

Which of these is the definition of a defective product under the Act?
'The product is not as effective in use as persons generally are entitled to expect'.
'The safety of the product is not such as persons generally are entitled to expect'.
'The product is not as hardwearing as persons generally are entitled to expect'.

A police officer took his dress uniform to a firm of dry cleaners to be cleaned. The cleaners gave him a ticket that he was to present when he came to pick up the uniform. On the ticket was a statement that the dry cleaners would not be liable for any damage arising in the course of “necessary handling for the purposes of cleaning.” The uniform was never returned. It turned out that the uniform had been sent to another firm for the cleaning to be done. Can the police officer successfully sue the dry cleaners for the uniform’s value?
Yes, because it is assumed that dry cleaners will never lose clothes.
Yes, a sub-bailment was not part of “necessary handling” and therefore the exemption clause should not apply.
Yes, a bailee cannot exempt itself from liability
No, because of the exemption clause.
No, because it is assumed that dry cleaners will periodically lose clothes.

Mary operates a small retail store. One night after closing her shop, as is her custom, she puts the day’s receipts in a bank deposit bag. She walks down the block and, using the key the bank allocated to her, puts the bag in the night depository. The next morning, before the bank opens for business, a bank employee empties the contents of the night depository on the counter in order to count it and make the appropriate deposits. At that moment, thieves break into the bank and steal the night deposit bags, including Mary’s. There is a provision in the night depository agreement that states that Mary shall use the night depository at her own risk. Who bears the liability for the loss of Mary’s deposit?
The bank. There is a creditor-debtor relationship here.
Mary. There is no bailment here as it is a creditor-debtor relationship.
The bank. There is a bailment, but the exemption clause does not exclude liability of the bank as bailee.
Mary. The bank’s exemption clause applies.
Mary. There is no creditor-debtor relationship and the exemption clause excludes liability for bailment.

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Mentor in Accounts, Finance and Commerce Subjects

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