This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 5801. |
The full disclosure principle, as adopted by the accounting profession, is best described by which of the following? a) All information related to an entity's business and operating objectives is required to be disclosed in the financial statements. b) Information about each account balance appearing in the financial statements is to be included in the notes to the financial statements. c) Enough information should be disclosed in the financial statements so a person wishing to invest in the stock of the company can make a profitable decision. d) Disclosure of any financial facts significant enough to influence the judgment of an informed reader |
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Answer» d) Disclosure of any financial facts significant enough to influence the judgment of an informed reader. |
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| 5802. |
The following comments all relate to the recording process. Which of these statements is correct? a. The general ledger is a chronological record of transactions. b. The general ledger is posted from transactions recorded in the general journal. c. The trial balance provides the primary source document for recording transactions into the general journal. d. Transposition is the transfer of information from the general journal to the general ledger. |
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Answer» b. The general ledger is posted from transactions recorded in the general journal. |
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| 5803. |
The purpose of financial accounts is reporting to a) Management only b) Government only c) Investor onlyd) All of these |
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Answer» d) All of these |
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| 5804. |
Which of the following is a real (permanent) account? a. Goodwill b. Sales c. Accounts Receivable d. Both Goodwill and Accounts Receivable |
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Answer» d. Both Goodwill and Accounts Receivable |
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| 5805. |
Of the following account types, which would be increased by a debit? a. Liabilities and expenses. b. Assets and equity. c. Assets and expenses.d. Equity and revenues. |
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Answer» c. Assets and expenses. |
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| 5806. |
Which of the following statements is not an objective of financial reporting? a. Provide information that is useful in investment and credit decisions. b. Provide information regarding policy of organisation c. Provide information that is useful in assessing cash flow prospective d.None of theses |
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Answer» b. Provide information regarding policy of organisation |
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| 5807. |
The Cash account on the balance sheet should not include which of the following items?a. Travel advances to employees b. Currency c. Money orders d. Deposits in transit |
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Answer» a. Travel advances to employees |
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| 5808. |
Give the adjusting entry and closing entry for interest on loan taken by a partner from the firm, when the firm follows the Fluctuating Capital Method. |
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Answer» Adjusting entry:
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| 5809. |
In a closed economy model one of the sectors below is not to be considered which? a. Households b.Firms c.Government d.Foreign trade |
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Answer» d.Foreign trade |
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| 5810. |
What is the meaning of primary deficit? |
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Answer» Primary deficit refers to the difference between fiscal deficit of the current year and interest payments on the previous borrowings. |
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| 5811. |
Primary deficit in a budget will be zero when: (a) Revenue deficit is zero (b) Net interest payments to be made by government are zero (c) Fiscal deficit is zero (d) Any of the above |
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Answer» (b) Net interest payments to be made by government are zero |
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| 5812. |
What does zero primary deficit mean? |
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Answer» If primary deficit is zero, fiscal deficit= interest payments. It means the government has to borrow only for its interest commitments on earlier loans. |
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| 5813. |
The total income earned in any given year by the owners of productive resources is measured by a.Personal income b.Disposable income c.Gross national product d.National income |
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Answer» d.National income |
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| 5814. |
An example of double counting in national income would be A. Wages of bus and train drivers B.cotton output and cotton cloth output C.electricity output and water output D.tax receipts and earnings of Inland Revenue officials |
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Answer» B.cotton output and cotton cloth output |
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| 5815. |
Distinguish between current account and capital account of the balance of payments account on the basis of its components. |
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| 5816. |
When is a consumer said to be rational ? |
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Answer» A consumer is said to be rational when he aims at maximising his satisfaction (utility) from the consumption of the given commodity within his money income. |
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| 5817. |
The difference between GNP and GDP is equal to a.gross domestic investment b.Net foreign investment c.net imports d.NFIA |
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Answer» The difference between GNP and GDP is equal to NFIA. |
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| 5818. |
”Disposable income” does not include a.Business transfer payments b.social security benefits c.corporate dividends d.Personal income taxes |
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Answer» d.Personal income taxes |
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| 5819. |
The smallest national income accounting aggregate is usually a.Personal income b.GNP c.Personal Disposable Income d.National Income |
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Answer» c.Personal Disposable Income |
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| 5820. |
For the study of the long term growth of the economy we use a.Real GNP b.Transfer payments c.per capita income d.Disposable income |
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Answer» For the study of the long term growth of the economy we use Real GNP. |
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| 5821. |
The important leakages in the circular flow of income are as follows except one which ? a.Savings b.Imports c.Government expenditure d.Taxes |
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Answer» c.Government expenditure |
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| 5822. |
Interest on the national debt is included in a.NNP b.GNP c.Personal income d.National income |
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Answer» c.Personal income |
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| 5823. |
Depreciation is the loss of value of a. Capital assets b.stocks C.Intermediate goods D.Final goods |
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Answer» a. Capital assets |
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| 5824. |
What is a bill of exchange? |
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Answer» A bill of exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or on demand. Bills of exchange are primarily used in international trade. Their use has declined as other forms of payment have become more popular. There are three entities that may be involved with a bill of exchange transaction. They are: (i) Drawee: This party pays the amount stated on the bill of exchange to the payee. (ii) Drawer: This party requires the drawee to pay a third party (or the drawer can be paid by the drawee). (iii) Payee: This party is paid the amount specified on the bill of exchange by the drawee. |
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| 5825. |
In figure if TP and TQ are the two tangents to a circle with centre O so that ∠POQ = 110°, then find the value of ∠PTQ. |
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Answer» PT amd QT are tangents to the circle with centre O. ∴ OP ⊥ PT and OQ ⊥ QT i.e., ∠POQ = 110°, ∠OPT = 90° ∠OQT = 90° In quad OPTQ we have, ∠POQ + ∠OPT + OQT + ∠PTQ = 360° ∠PTQ = 360° – (110° + 90° + 90°) ∠PTQ = 360° – 290° ∠PTQ = 70° |
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| 5826. |
If both the zeros of the quadratic polynomial ax2 + bx + c are equal and opposite in sign, then find the value of b. |
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Answer» Let α and –α be the roots of given polynomial. Then α + (– α) = 0 ⇒ −b/a = 0 ⇒ b = 0. |
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| 5827. |
How does an oscillating charge radiate an electromagnetic wave? Give the relation between the frequency of radiated wave and the frequency of oscillating charge. |
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Answer» • Electromagnetic waves are electric and magnetic fields travelling through empty space with the speed of light c. • A charged particle oscillating about an equilibrium position is an accelerating charged particle. • If its frequency of oscillation is f, then it produces an electromagnetic wave with frequency f. |
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| 5828. |
Give reason, why high frequency carrier waves are needed for effective transmission of information signals. |
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Answer» Need for long antenna diminishes, with explanation power is inversely proportional to (wavelength)2 signals from different transmitters can be distinguished. |
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| 5829. |
The de Broglie wavelengths associated with an electron and a proton is equal. Prove that the kinetic energy of the electron is greater than that of the proton. |
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Answer» de Brogie wavelength λ = \(\frac{h}{\sqrt {2mK}}\) We get K = \(\frac{h^2}{{2mλ^2}}\) K ∝ \(\frac{1}{m}\) We know that mp > me \(\frac{K_e}{K_p} = \frac {m_p}{m_e} > 1\) Ke > Kp |
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| 5830. |
In a double slit experiment, the distance between the slits is 3 mm and the slits are 2 m away from the screen. Two interference patterns can be seen on the screen one due to light with wavelength 480 nm, and the other due to light with wavelength 600 nm. What is the separation on the screen between the fifth order bright fringes of the two interference patterns? |
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Answer» β = λ D / d 5th bright = 5β1 = 5λ1D/d = 5 x 480 x 10-9 x 2 / 3 x 10-3 = 16 x 10-4 m 5th bright = 5β2 = 5λ2D/d = 5 x 600 x 10-9 x 2 / 3 x 10-3 = 20 x 10-4 m distance between two 5th bright fringes = (20 – 16) x 10-4 = 4 x 10-4 m |
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| 5831. |
The following table gives the length of three copper wires, their diameters, and the applied potential difference across their ends. Arrange the wires in increasing order according to the following:(a) The magnitude of the electric field within them,(b) The drift speed of electrons through them, and(c) The current density within them.Wire no.LengthDiameterPotential Difference1.L3dV2.2LdV3.3L2d2V |
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Answer» (i) E1 = V/L, E2 = V/2L, E3 = 2V/3L E2 < E3 < E1 (ii) Vd α E Vd2 < Vd3 < Vd1 (iii) I = nAe Vd / J= σE J = n e Vd J2 < J3<J1 |
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| 5832. |
The nuclear forces are not coulomb forces between nucleons. Explain. |
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Answer» • The nuclear force acts between the charges and functions as the gravitational force between masses. • This is much stronger than the Coulomb force. • This is because the nuclear force needs to overpower the Coulomb repulsive force between the like-charged protons inside the nucleus. |
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| 5833. |
The motion of copper plate is damped when it is allowed to oscillate between the two poles of a magnet. What is the cause of this damping? |
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Answer» As the plate oscillate, the changing magnetic flux through the plate produces a strong eddy current in the direction, which opposes the cause. Also, copper being diamagnetic substance, it gets magnetised in the opposite direction, so the plate motion gets damped. |
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| 5834. |
Welders wear special goggles or face masks with glass windows to protect their eyes from electromagnetic radiations. Name the radiations and write the range of their frequency |
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Answer» Ultraviolet radiations |
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| 5835. |
The purchase of a new home is included in the GNP as a part of a.capital consumption allowance b.personal consumption expenditure c.Investment d.Personal saving |
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Answer» c.Investment |
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| 5836. |
NNP at market prices and NNP at factor costs will be equal when there is a.No direct tax b.No indirect tax c.No subsidy d.No indirect tax and no subsidy |
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Answer» d.No indirect tax and no subsidy |
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| 5837. |
GNP is RS 600 crores and NNP is RS 475 crores: therefore depreciation is a.RS 100 b.RS 175 c.RS 50 d. RS 125 |
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Answer» GNP is RS 600 crores and NNP is RS 475 crores: therefore depreciation is RS 125. |
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| 5838. |
Arrange Pentan-1-ol, n-butane, pentanal, ethoxyethane (Increasing boiling point) |
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Answer» n-Butane < ethoxyethane < pentanal < pentan-1-ol (Increasing Boiling point) |
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| 5839. |
Give the uses of Freon-12 & DDT. |
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Answer» Use of Freon-12 → Aerosol propellants, refrigeration and air conditioning. |
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| 5840. |
Arrange CH3COOH, CH2FCOOH, CH2ClCOOH, CH2FCH2COOH (Increasing acidic strength) |
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Answer» CH3COOH < CH2FCH2COOH < CH2ClCOOH < CH2FCOOH (Increasing Acidic , Strength) |
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| 5841. |
If negative probe of a multimeter is placed n the base of a p–n–p transistor, then ohm meter reading, with other probe placed on one of the other pins, will show(1) a low resistance(2) a high resistance (3) zero resistance(4) (1–) reading |
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Answer» Correct option: (1) a low resistance Explanation: When the negative probe of a multimeter (adjusted to work as an ohm meter) is placed on the base of a p–n–p transistor, and the other probe is placed on the of the other pins, it will show a ‘low resistance’ reading. This is so because this way, of connecting the multimeter probes, corresponds to a forward biasing of the (p–n junction) being investigated. |
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| 5842. |
A small device has a yellow colored capsule top and has 220 written on it. There is no + or – sign on it. This device is likely to be(1) Electrolyte capacitor of value 220 µF(2) Electrolyte capacitor of value 22 ρF(3) Ceramic capacitor of value 220 µF(4) Ceramic capacitor of value 22 pF |
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Answer» Correct option: (4) Ceramic capacitor of value 22 pF Explanation: The given description matches a ceramic capacitor of value 22 pF. |
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| 5843. |
The voltage drop, across a LED, when connected in forward bias configuration to a multimeter, is,(1) 0.5 to 0.7 mV(2) 1.5 to 2.2 V(3) 0.5 to 0.7 V(4) 1.5 to 2.2 mV |
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Answer» Correct option: (2) 1.5 to 2.2 V Explanation: The voltage drop, across LED, in the forward bias configuration, is in the range of 1.5 V to 2.2V. |
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| 5844. |
While checking a diode with a digital multimeter, set to its ‘diode’ symbol, a good diode is expected to show.(1) 0 V in both forward and reverse biasing(2) 0.5 V – 0.7 V in both forward and reverse biasing(3) 0.5 V – 0.7 V in only one direction of polarity(4) 1 in both forward and reverse polarity |
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Answer» Correct option: (3) 0.5 V – 0.7 V in only one direction of polarity Explanation: In forward bias, it shows voltage drop across the diode which is small, 0.5–0.7 V. In reverse bias, it shows large, overload, signifying large (∞) resistance. |
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| 5845. |
Categorize two determining factors that affect the type of underlining. |
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Answer» (a) The shape or body intended by the garment design. (b) The support needed in order to achieve that design. |
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| 5846. |
A milkman adds a very small amount of baking soda to fresh milk.(a) Why does he shift the pH of the fresh milk from 6 to slightly alkaline?(b) Why does this milk take a long time to set as curd? |
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Answer» (a) By adding a very small amount of baking soda to fresh milk, the milkman keeps the milk unspoiled for little more time than usual time. (b) On boiling, milk will become slightly bitter in taste due to the presence of baking soda. |
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| 5847. |
Examine the significance of Decentralisation. |
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| 5848. |
What was the series of majoritarian measures adopted in Sri Lanka? |
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Answer» The series of majoritarian measures adopted by the democratically elected government were as follows: (i) In 1956, an act was passed to recognise Sinhala as the official language thus disregarding Tamil. (ii) The government followed preferential policies that favoured Sinhala applicants for university positions and government jobs. (iii) A new Constitution stipulated that the state shall protect and foster Buddhism. |
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| 5849. |
What are the differences between moist deciduous and dry deciduous forests? |
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Answer» Differences between moist deciduous and dry deciduous forests are as follows:
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| 5850. |
What is an electromagnet? List any two uses. |
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