NAT-ICOM Online Exam for Commerce Group

The cost which has already been incurred and cannot be recovered is:

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Your Answer:

Sunk Cost Sunk Cost
Opportunity Cost Opportunity Cost
Marginal Cost Marginal Cost
Imputed Cost Imputed Cost

The Lorenz Curve measures:

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Your Answer:

Income Inequality Income Inequality
Inflation Inflation
Unemployment Unemployment
Poverty Poverty

CLOCK : TIME ::

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Your Answer:

Ruler : Height Ruler : Height
Compass : Direction Compass : Direction
Thermometer : Temperature Thermometer : Temperature
Car : Speed Car : Speed

Indirect material and indirect labor are part of:

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Your Answer:

Prime Cost Prime Cost
Factory Overhead Factory Overhead
Admin Expenses Admin Expenses
Selling Expenses Selling Expenses

If $x + y = 10$ and $x - y = 2$, then $x = ?$

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Your Answer:

4 4
6 6
5 5
8 8

Solution set of $|x| = 5$:

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Your Answer:

$\{5\}$ $\{5\}$
$\{-5\}$ $\{-5\}$
$\{-5, 5\}$ $\{-5, 5\}$
$\{25\}$ $\{25\}$

Series: 5, 10, 13, 26, 29, ?

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Your Answer:

52 52
58 58
60 60
32 32

Which business organization has the longest life?

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Your Answer:

Sole Proprietorship Sole Proprietorship
Partnership Partnership
Joint Stock Company Joint Stock Company
Joint Venture Joint Venture

Which document contains the rules and regulations for the internal management of a company?

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Your Answer:

Memorandum of Association Memorandum of Association
Articles of Association Articles of Association
Prospectus Prospectus
Certificate of Incorporation Certificate of Incorporation

Analogy: BACTERIA : ILLNESS ::

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Medicine : Germs Medicine : Germs
Fire : Heat Fire : Heat
Cloud : Rain Cloud : Rain
Knife : Cut Knife : Cut

Synonym of EAGER:

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Your Answer:

Keen Keen
Lazy Lazy
Slow Slow
Bored Bored

In perfect competition, the demand curve for an individual firm is:

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Your Answer:

Downward sloping Downward sloping
Perfectly elastic Perfectly elastic
Vertical Vertical
Upward sloping Upward sloping

Series: 240, 120, 40, 10, ?

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Your Answer:

2 2
5 5
4 4
1 1

A market with only two sellers is called:

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Your Answer:

Duopoly Duopoly
Monopoly Monopoly
Oligopoly Oligopoly
Monopsony Monopsony

Comprehension: "The car cost an arm and a leg." Meaning:

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Your Answer:

Cheap Cheap
Painful Painful
Accident Accident
Expensive Expensive

We should ______ by the rules of the institution.

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Your Answer:

Abide Abide
Follow Follow
Stick Stick
Adhere Adhere

Antonym of ACQUIT:

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Your Answer:

Convict Convict
Evict Evict
Forgive Forgive
Clear Clear

Analogy: WAITER : RESTAURANT ::

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Your Answer:

Teacher : School Teacher : School
Actor : Role Actor : Role
Driver : Car Driver : Car
Author : Library Author : Library

Logical: Pointing to a man, a woman said, "His mother is the only daughter of my mother." How is the man related to the woman?

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Your Answer:

Brother Brother
Son Son
Uncle Uncle
Father Father

I cannot ______ this insult.

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Your Answer:

Bare Bare
Bear Bear
Beer Beer
Bar Bar

If A:B = 2:3 and B:C = 4:5, what is A:C?

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Your Answer:

0.34375 0.34375
0.086805555555556 0.086805555555556
0.26041666666667 0.26041666666667
0.34722222222222 0.34722222222222

Analogy: CALENDAR : DATES ::

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Your Answer:

Dictionary : Words Dictionary : Words
Clock : Time Clock : Time
Map : City Map : City
Book : Pages Book : Pages

Series: 2, 6, 12, 20, 30, ?

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Your Answer:

40 40
36 36
42 42
48 48

Which is largest? $0.1, 0.01, 0.001, 0.11$

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Your Answer:

0.1 0.1
0.01 0.01
0.001 0.001
0.11 0.11

Expand $(a-b)(a+b)$.

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Your Answer:

$a^2 - b^2$ $a^2 - b^2$
$a^2 + b^2$ $a^2 + b^2$
$a^2 - 2ab + b^2$ $a^2 - 2ab + b^2$
$a-b$ $a-b$

Arithmetic Mean of $x$ and $y$ is:

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Your Answer:

$xy$ $xy$
$x-y$ $x-y$
$(x+y)/2$ $(x+y)/2$
$\sqrt{xy}$ $\sqrt{xy}$

Average of first 5 prime numbers is:

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Your Answer:

5 5
5.6 5.6
6 6
5.4 5.4

Scenario: A, B, C, D, E sit on a bench. A is next to B. C is next to D. D is not next to E. E is on the left end of the bench. C is in the second position from the right. A is to the right of B and E. Question: Who is at the extreme right?

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Your Answer:

A A
B B
C C
D D

The most important clause of the Memorandum of Association is:

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Your Answer:

Name Clause Name Clause
Capital Clause Capital Clause
Object Clause Object Clause
Liability Clause Liability Clause

Antonym of OBSCURE:

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Your Answer:

Distinct Distinct
Vague Vague
Confusing Confusing
Hidden Hidden

If $f(x) = 2x + 1$, then $f(3) = ?$

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Your Answer:

6 6
7 7
8 8
9 9

Reciprocal of 2/5 is:

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Your Answer:

45693 45693
=-2/5 =-2/5
1 1
0.4 0.4

Series: Z, X, V, T, ?

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Your Answer:

S S
R R
Q Q
P P

SCALPEL : SURGEON ::

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Your Answer:

Pen : Reader Pen : Reader
Chisel : Sculptor Chisel : Sculptor
Brush : Painter Brush : Painter
Knife : Butcher Knife : Butcher

Isoquant curve shows combinations of inputs yielding same:

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Your Answer:

Cost Cost
Output Output
Profit Profit
Utility Utility

Comprehension: "The child played in the park until sunset." Inference: The child played...

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Your Answer:

For a few minutes For a few minutes
For a long duration For a long duration
At night At night
In the morning only In the morning only

Code: If APPLE is coded as ETTPI, what is DELHI?

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Your Answer:

HIPLM HIPLM
HIKLM HIKLM
HIPNM HIPNM
GIPLM GIPLM

She is quite ______ of the fact that she has no money.

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Your Answer:

Conscience Conscience
Conscious Conscious
Conscientious Conscientious
Cautious Cautious

What is the HCF of 12, 15, and 18?

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Your Answer:

6 6
3 3
1 1
12 12

Product of -2, -3, -4 is:

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Your Answer:

24 24
-24 -24
12 12
-12 -12

If $3^x = 81$, then $x = ?$

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Your Answer:

3 3
4 4
5 5
27 27

The "Diamond-Water Paradox" is explained by:

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Your Answer:

Total Utility Total Utility
Cost of Production Cost of Production
Marginal Utility Marginal Utility
Scarcity Scarcity

Original price 500, Discount 10%. Sale Price?

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Your Answer:

400 400
450 450
490 490
550 550

In the short run, a firm shuts down if Price is less than:

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Your Answer:

AC AC
AVC AVC
MC MC
AFC AFC

Gini Coefficient ranges from:

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Your Answer:

-1 to 1 -1 to 1
0 to 1 0 to 1
1 to 100 1 to 100
0 to Infinity 0 to Infinity

OPTIMIST : CHEERFUL ::

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Your Answer:

Pessimist : Gloomy Pessimist : Gloomy
Doctor : Patient Doctor : Patient
Teacher : Student Teacher : Student
Driver : Car Driver : Car

Which is not a prime number?

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Your Answer:

2 2
3 3
5 5
9 9

In a class of 50, 20 are girls. Percentage of boys?

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Your Answer:

0.4 0.4
0.5 0.5
0.6 0.6
0.7 0.7

A Joint Stock Company is a:

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Your Answer:

Natural Person Natural Person
Citizen Citizen
Artificial Person Artificial Person
Government Body Government Body

Which statement helps to identify how profit is used?

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Your Answer:

Balance Sheet Balance Sheet
Income Statement Income Statement
Statement of Retained Earnings Statement of Retained Earnings
Cash Flow Statement Cash Flow Statement

Salary increased by 10% then decreased by 10%. Net change?

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Your Answer:

No change No change
1% Decrease 1% Decrease
1% Increase 1% Increase
20% Change 20% Change

BIRD : FLOCK ::

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Your Answer:

Wolf : Pack Wolf : Pack
Lion : Pride Lion : Pride
Sheep : Herd Sheep : Herd
Fish : School Fish : School

Listing of securities is done at:

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Your Answer:

Stock Exchange Stock Exchange
Central Bank Central Bank
Chamber of Commerce Chamber of Commerce
SECP SECP

Elasticity of demand equal to 1 is called:

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Your Answer:

Elastic Elastic
Inelastic Inelastic
Unitary Elastic Unitary Elastic
Perfectly Elastic Perfectly Elastic

Statement: "All mangoes are golden." "No golden thing is cheap." Conclusion: Mangoes are not cheap.

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Your Answer:

1 1
Option 2 Option 2
Uncertain Uncertain
Invalid Invalid

Perfectly elastic supply curve is:

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Your Answer:

Vertical Vertical
Horizontal Horizontal
Upward sloping Upward sloping
Downward sloping Downward sloping

Comprehension: "He has a green thumb." Meaning:

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Your Answer:

Good at gardening Good at gardening
Sick Sick
Envious Envious
Painter Painter

Analogy: DOCTOR : STETHOSCOPE ::

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Your Answer:

Author : Book Author : Book
Painter : Brush Painter : Brush
Teacher : School Teacher : School
Mechanic : Car Mechanic : Car

Vouching implies:

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Your Answer:

Checking assets Checking assets
Examining documents Examining documents
Preparing report Preparing report
Checking cash Checking cash

Common Seal of a company acts as its:

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Your Answer:

Asset Asset
Signature Signature
Liability Liability
Address Address

Difference between smallest 3-digit number and largest 2-digit number:

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Your Answer:

10 10
100 100
1 1
9 9

Logical: If A+B=10 and A-B=4, then A*B=?

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Your Answer:

21 21
20 20
24 24
12 12

The document inviting the public to subscribe for shares is called:

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Your Answer:

Prospectus Prospectus
Memorandum Memorandum
Articles Articles
Balance Sheet Balance Sheet

Job costing is used for:

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Your Answer:

Cement Industry Cement Industry
Printing Press Printing Press
Sugar Mill Sugar Mill
Refinery Refinery

The manager was ______ of the employee's honesty.

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Your Answer:

Confident Confident
Skeptical Skeptical
Sure Sure
Aware Aware

Registration of a partnership firm is:

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Your Answer:

Compulsory Compulsory
Optional Optional
Illegal Illegal
Banned Banned

The cost of direct materials is classified as a:

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Your Answer:

Period cost Period cost
Product cost Product cost
Operating cost Operating cost
Admin cost Admin cost

Standard Costing involves:

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Your Answer:

Comparison with standards Comparison with standards
Historical costing Historical costing
Estimating future costs Estimating future costs
Random costing Random costing

A partner who invests capital but does not participate in management is:

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Your Answer:

Sleeping Partner Sleeping Partner
Active Partner Active Partner
Nominal Partner Nominal Partner
Minor Partner Minor Partner

Scenario: 7 tasks (Same conditions). Question: Which task is performed immediately after T5?

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Your Answer:

T3 T3
T2 T2
T1 T1
T6 T6

Consumer surplus is the difference between:

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Your Answer:

Willing to pay - Actual price Willing to pay - Actual price
Total utility - Price Total utility - Price
Income - Expenditure Income - Expenditure
Demand - Supply Demand - Supply

Antonym of DILIGENT:

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Your Answer:

Intelligent Intelligent
Lazy Lazy
Active Active
Energetic Energetic

The building was ______ by the fire.

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Your Answer:

Raised Raised
Risen Risen
Razed Razed
Erased Erased

Series: 4, 9, 19, 39, ?

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Your Answer:

69 69
79 79
89 89
59 59

Statement: Some books are pens. No pen is a pencil. Conclusion: Some books are pencils.

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Your Answer:

1 1
Option 2 Option 2
Uncertain Uncertain
Valid Valid

Antonym of BARBAROUS:

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Your Answer:

Cruel Cruel
Wild Wild
Civilized Civilized
Ancient Ancient

A number divisible by 2 and 3 is divisible by:

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Your Answer:

5 5
4 4
6 6
8 8

Work done = ?

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Your Answer:

Force $\times$ Distance Force $\times$ Distance
Force / Distance Force / Distance
Force + Distance Force + Distance
Speed $\times$ Time Speed $\times$ Time

Series: 3, 7, 15, 31, 63, ?

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Your Answer:

127 127
120 120
96 96
100 100

Cooperative Societies are formed primarily for:

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Your Answer:

Profit Maximization Profit Maximization
Service to members Service to members
Monopoly Monopoly
Export Export

Synonym of FABRICATE:

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Your Answer:

Demolish Demolish
Construct Construct
Wear Wear
Wash Wash

Audit of a company is compulsory under:

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Your Answer:

Partnership Act Partnership Act
Companies Act Companies Act
Income Tax Ord Income Tax Ord
Sales Tax Act Sales Tax Act

Conversion Cost is:

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Your Answer:

DM + DL DM + DL
DM + FOH DM + FOH
DL + FOH DL + FOH
Prime Cost + FOH Prime Cost + FOH

Scenario: 5 friends (Same conditions). Question: Who sits in the center?

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Your Answer:

A A
B B
C C
D D

The mode of 1, 2, 2, 3, 4 is:

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Your Answer:

1 1
2 2
3 3
4 4

Comprehension: "The factory smoke turned the sky grey." Effect: This implies...

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Your Answer:

It was raining It was raining
It was night It was night
Pollution Pollution
The factory was painting the sky The factory was painting the sky

Which method results in lowest inventory value during deflation?

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Your Answer:

Weighted Average Weighted Average
HIFO HIFO
LIFO LIFO
FIFO FIFO

The chemical warfare was ______ by the international community.

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Your Answer:

Commended Commended
Condemned Condemned
Condoned Condoned
Confirmed Confirmed

Code: If CAT = 24, DOG = 26, RAT = ?

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Your Answer:

30 30
39 39
40 40
38 38

Odd one out: 8, 27, 64, 100.

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Your Answer:

8 8
27 27
64 64
100 100

Evaluating Your Answers

NAT-ICOM Online Exam for Commerce Group : Question 1 of 90