Management Aptitude Test 15 October


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Management Aptitude Test 15 October

  2. 2. ACCOUNTING FOR BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] ,
  3. 3. Is it necessary to show the value of fixed assets in the beginning and at the end of the year with all additions? <ul><li>Yes – as per AS 10 </li></ul>
  4. 4. At what exchange rate will you show your fixed assets abroad? <ul><li>Exchange rate prevailing at the date of purchase (AS 11) </li></ul>
  5. 5. At what exchange rate will you show your Monetary assets abroad? <ul><li>Closing date </li></ul>
  6. 6. How can you value your inventories? <ul><li>FIFO or Weighted average method (AS 2) </li></ul><ul><li>Absorption costing method </li></ul>
  7. 7. A,B,C are partners, B retires. How much goodwill will B get if on the date of retirement, the goodwill was valued at Rs. 30000.? <ul><li>Rs. 10000 answer </li></ul>
  8. 8. If our company does not receive minimum subscription, that what is the period within which we can refund the money? <ul><li>42 days </li></ul><ul><li>(90% minimum subscription is required). </li></ul>
  9. 9. What is the minimum number of shares that a person can apply? <ul><li>As per SEBI guidelines 27/1/2000, it is 200 shares of Rs. 10 face value each. </li></ul>
  10. 10. What is the minimum application form fees on the issue? <ul><li>25% of nominal value of securities. (as per companies amendment bill 2003 </li></ul>
  11. 11. What is the minimum period between 2 calls? <ul><li>1 month </li></ul>
  12. 12. If issue size is Rs. 200 crores, what is the maximum period in which shares can be made fully paid? <ul><li>1 year. </li></ul>
  13. 13. If the company delays in refunding the amount to the applicants (if shares are not alloted to them), what is the interest that it has to pay? <ul><li>15% </li></ul>
  14. 14. Is it necessary to disclose minimum subscription? <ul><li>Yes, it has to be disclosed in prospectus. It has to be identified on the basis of various factors. </li></ul>
  15. 15. Is the condition of minimum subscription also applicable on rights issue? <ul><li>Yes </li></ul>
  16. 16. Is the condition of minimum subscription also applicable on offer of sale of securities? <ul><li>No </li></ul>
  17. 17. We have made a 1 st call on 10000 shares for Rs. 20 each. All but owners of 100 shares didn’t make the payment. What is our closing balance in first call account? <ul><li>Debit balance of Rs. 2000 </li></ul>
  18. 18. What type of resolution is required for issue of shares on discount? <ul><li>Ordinary resolution with permission from company law board. </li></ul>
  19. 19. Can a company issue shares on discount before 1 year from commencement of year? <ul><li>No </li></ul>
  20. 20. We have issued 1000 shares at Rs. 90 (discount of Rs. 10). What is the balance in our share capital account? <ul><li>100000 answer. </li></ul>
  21. 21. For which purpose we cannot use share premium? <ul><li>Write off preliminary expenses </li></ul><ul><li>To pay dividend </li></ul><ul><li>To write off expenses on commission paid on shares </li></ul><ul><li>To pay premium on redemption </li></ul><ul><li>To pay bonus shares. </li></ul><ul><li>SOLUTION: </li></ul><ul><li>2 answer. </li></ul>
  22. 22. What are the interest rates on call in arrears and call in advance as per Table A? <ul><li>5% and 6% respectively. </li></ul>
  23. 23. We have 100 shares on which face value is 100, called up money is 50 paid up money is 25 (Rs. 25 on first call is due). They are forfeited. Which account will be debited and which account credited for how much amount? <ul><li>Share capital A/c Debit : Rs. 5000 </li></ul><ul><li>Forfeiture a/c credit Rs. 2500 </li></ul><ul><li>First call a/c credit Rs. 2500 </li></ul>
  24. 24. We are forfeiting 100 shares on which we have received Rs. 10 as premium. Now what will be the entry in premium account <ul><li>No entry required. </li></ul>
  25. 25. We are forfeiting 100 shares on which we have given a discount of Rs. 10. Now what will be the entry in discount account <ul><li>Discount account will be credited with Rs. 1000. answer. </li></ul>
  26. 26. What can be the maximum loss on reissue of forfeited shares? <ul><li>Forfeited amount. </li></ul>
  27. 27. We has a loss on forfeited shares of Rs. 10 per share, forfeited amount is Rs. 30 per shares on 100 shares. What should we do now? <ul><li>Transfer Rs. 20 per share (total Rs. 2000) to capital reserve </li></ul>
  28. 28. Where should we show forfeited amount in balance sheet? <ul><li>In balance sheet as addition to capital </li></ul>
  29. 29. If the shares are re-issued at premium, where should premium go? <ul><li>Securities premium account </li></ul>
  30. 30. If we reissue shares at a loss, where should loss go? <ul><li>Forfeited shares account. </li></ul>
  31. 31. ABOUT AFTERSCHO☺OL <ul><li>Afterschoool conducts three year integrated PGPSE (after class 12 th along with IAS / CA / CS ) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM . This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society. </li></ul>
  32. 32. Why such a programme? <ul><li>To promote people to take up entrepreneurship and help develop the society </li></ul><ul><li>To enable people to take up franchising and other such options to start a business / social development project </li></ul><ul><li>To enable people to take up social development as their mission </li></ul><ul><li>To enable people to promote spirituality and positive thinking in the world </li></ul>
  33. 33. Who are our supporters? <ul><li>Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. </li></ul><ul><li>You can also support us – not necessarily by money – but by being promotor of our concept and our ideas. </li></ul>
  34. 34. About AFTERSCHO☺OL PGPSE – the best programme for developing great entrepreneurs <ul><li>Most flexible, adaptive but rigorous programme </li></ul><ul><li>Available in distance learning mode </li></ul><ul><li>Case study focused- latest cases </li></ul><ul><li>Industry oriented practical curriculum </li></ul><ul><li>Designed to make you entrepreneurs – not just an employee </li></ul><ul><li>Option to take up part time job – so earn while you learn </li></ul><ul><li>The only absolutely free course on internet </li></ul>
  35. 35. Workshops from AFTERSCHO☺OL <ul><li>IIF, Delhi </li></ul><ul><li>CIPS, Jaipur </li></ul><ul><li>ICSI Hyderabad Branch </li></ul><ul><li>Gyan Vihar, Jaipur </li></ul><ul><li>Apex Institute of Management, Jaipur </li></ul><ul><li>Aravali Institute of Management, Jodhpur </li></ul><ul><li>Xavier Institute of Management, Bhubaneshwar </li></ul><ul><li>Pacific Institute, Udaipur </li></ul><ul><li>Engineering College, Hyderabad </li></ul>
  36. 36. Flexible Specialisations: <ul><li>Spiritualising business and society </li></ul><ul><li>Rural development and transformation </li></ul><ul><li>HRD and Education, Social Development </li></ul><ul><li>NGO and voluntary work </li></ul><ul><li>Investment analysis,microfinance and inclusion </li></ul><ul><li>Retail sector, BPO, KPO </li></ul><ul><li>Accounting & Information system (with CA / CS /CMA) </li></ul><ul><li>Hospital management and Health care </li></ul><ul><li>Hospitality sector and culture and heritage </li></ul><ul><li>Other sectors of high growth, high technology and social relevance </li></ul>
  37. 37. Salient features: <ul><li>The only programme of its kind (in the whole world) </li></ul><ul><li>No publicity and low profile course </li></ul><ul><li>For those who want to achieve success in life – not just a degree </li></ul><ul><li>Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes </li></ul><ul><li>Scholarships for those from poor economic background </li></ul><ul><li>Latest and constantly changing curriculum – keeping pace with the time </li></ul><ul><li>Placement for those who are interested </li></ul><ul><li>Admissions open throughout the year </li></ul><ul><li>Latest and most advanced technologies, books and study material </li></ul>
  38. 38. Components <ul><li>Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) </li></ul><ul><li>Meditation, spiritualisation, and self development </li></ul><ul><li>Essential softwares for business </li></ul><ul><li>Business plan, Research projects </li></ul><ul><li>Participation in conferences / seminars </li></ul><ul><li>Workshops on leadership, team building etc. </li></ul><ul><li>Written submissions of research projects/articles / papers </li></ul><ul><li>Interview of entrepreneurs, writing biographies of entrepreneurs </li></ul><ul><li>Editing of journals / newsletters </li></ul><ul><li>Consultancy / research projects </li></ul><ul><li>Assignments, communication skill workshops </li></ul><ul><li>Participation in conferences and seminars </li></ul><ul><li>Group discussions, mock interviews, self development diaryng </li></ul><ul><li>Mind Power Training & writing workshop (by Dr. T.K.Jain) </li></ul>
  39. 39. Pedagogy <ul><li>Case analysis, </li></ul><ul><li>Articles from Harvard Business Review </li></ul><ul><li>Quiz, seminars, workshops, games, </li></ul><ul><li>Visits to entrepreneurs and industrial visits </li></ul><ul><li>Presentations, Latest audio-visuals </li></ul><ul><li>Group discussions and group projects </li></ul><ul><li>Periodic self assessment </li></ul><ul><li>Mentoring and counselling </li></ul><ul><li>Study exchange programme (with institutions out of India) </li></ul><ul><li>Rural development / Social welfare projects </li></ul>
  40. 40. Branches <ul><li>AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs. </li></ul>
  41. 41. Case Studies <ul><li>We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs. </li></ul>
  42. 42. Basic values at AFTERSCHO☺OL <ul><li>Share to learn more </li></ul><ul><li>Interact to develop yourself </li></ul><ul><li>Fear is your worst enemy </li></ul><ul><li>Make mistakes to learn </li></ul><ul><li>Study & discuss in a group </li></ul><ul><li>Criticism is the healthy route to mutual support and help </li></ul><ul><li>Ask fundamental questions : why, when, how & where? </li></ul><ul><li>Embrace change – and compete with yourself only </li></ul>
  43. 43. social entrepreneurship for better society