SFT-C

English:

Accounting &

IBJ,CA

Logical ability

Auditing

.1. c
!)
3. 1)
4. c:
b. A
6.
'?.

/.

8. A
9. A
10. C
11. B

1?. H

13. li
14. C
1^. A
16. B
\7. A
18. C
19. C
20. C

1.
3.
4.
5.
6.
/.

D
A
A
A
B
A
B

8. B
9. B
10. D
11. C
1?_. A
13. B
14. D
15. D
16 C
17 c:
18 [i
19 B
2.0 A

1. C
2. A
3. A
4. A
5. D
6. A
7. A
8. A
9. B
10. A
11. D
12. B
13. A
14. A
15 D
16 B
17 C
18 A
19 A
20 A

1. D
2. D
3. D
4. B
5. C
6. B

ACNABIN Admission Test

09 October 2012

Father's Name:

Name:
Signature:

Date:

Time: 1 hour and 30 IVIin.

Mari<s: 90
I n s t r u c t i o n for t h e e x a m i n e e s :

E x a m i n e e s are instructed to ticl< the appropriate a n s w e r o p t i o n .

Each q u e s t i o n carries one (1) marl< unless otherwise specified beside t h e question.

A d o p t i o n of unfair m e a n s a n d side talking are strictly prohibited.

*: Scientific calculator m a y be u s e d .
< O n l y ballpoint pen c a n be u s e d .

Using cell phone at t h e e x a m time is strictly prohibited. (Cell Phone n e e d to be switched off
d u r i n g t h e e x a m time)

Descriptive answers of the relevant questions m u s t be to the point a n d precise.

E r r a n d a n d double a n s w e r question will not carry a n y mark.

Set-C

SetC

English:

20

Choose the correct answer.

1. Although research scientists had hoped that the new drug interferon

to be

cure for cancer, its application now appear to be more limited.

A. Prove
B. Had proven
C. Would prove
D. Will prove
E. Will have proven
2. A good counselor would rather that the client
his or her own decisions after
being helped to arrive at a general understanding of the alternatives.
A. makes
3.

B. making

C. will make

It is the recommendation of many psychologists

remember names.

D. made

to associate words and

A. that a learner uses mental images

B. a learner to use mental images
C. mental images are used
D. that a learner use mental images
4.

in the cultivation of forest, trees need more careful planning than any other crop
does.
A.
B.
C.
D.

5.

Because the time and area involved

For the time and area involving
Because of the time and area involved
As a cause of the time and area involved

One's fingerprints are

A. different from those of any other person
B. different from any other person
C. different any other person
D. differs from another person

Choose the incorrect word or phrase and correct it.

6.

If we were to consider all of the different kinds of motion in discussing the movement of
A
an object, jt is very confusing, because even an object at rest Is moving as the earth turns.
BC

7. The function of pain is to warn the individuals of danger so he can take action to avoid more
A
serious damage.
D

5et C

8.

Both viruses also genes are made from nucleoproteins, the essential chemicals with which
A
B
living matter duplicates itself.
C

9.

Sometime several nations become partners in larger political state, as for example, the four
A
B
C
D

nations joined the United Kingdom of Great Britain and Northern Ireland.
10. In Ground Control Approach, the air traffic controller Informs the pilot how far Is the piane
A
B
C
from the touchdown point.
D
11. Crocodiles different from alligators in that they have pointed snouts and long lower teeth that
A
B
C
stick out when their mouths are dosed
D
From the answer choices, find out the opposite word for the words in capital letters:
12. EFFRONTERY:
A.

Charity

B. Deference

13. PRODIGIOUS:
A. Implicit

C. Simplicity

D. Deceitfulness

C. Constant

D. Unnecessary

B. Slight

14. S Q U A U D :
A. Clarity

B. Premature

C. Pristine

D. Impetus

From the answer choices, find out the similar word for the Word in capital letter:
15. WANE:
A. Diminish

B. Zest C. Trudge

D. Solicit

In each of the following questions, a related pair of words or phrases is followed by four
lettered

pairs

of words, phrases.

Select the lettered pair that

best expresses

relationship similar to that expressed in the original pair.

16. Auger : Carpenter ::
A. studio: sculptor
D. cement: mason

B. awl: cobbler C. seam: seamstress

17. Expeditious :Speed ::

A. astute: wisdom

B. decorous: impropriety

C. thoughtful: inanity

D. haggard: sturdiness
18. Elusive : Capture ::
A. persuasive: convince
D. sensible: decide

B. elastic: stretch

C. headstrong: control

SetC

19. Apocryphal: Authenticity

A.

nefarious: wicl<edness

B. dogmatic: assertiveness

C. hypocritical ; integrity

D. deceptive: artifice
20. We accepted the theory that as people become more independent of one another, they begin to
feel so Isolated and lonely that freedom becomes
to

condition that most will seek

A. a permanent... postpone
D. a political ... Impose

B. a common ... enter

Accounting & Auditing:

C. a negative ... escape

20

Chowdhury Bakery produces packaged Biscuits. Recently Mr. Chowdhury is analyzing his business
process and tries to get some Insight. He found that it costs BDT 30 as the Variable cost of producing
per packet of biscuit. In addition he pays monthly Tk 25000 as production manager's salary, TK 5000
as security guard's bill, TK 10000 as factory rent and TK 5000 as gasoline charges for the two boiling
stoves. Each biscuit packet has sales value of TK 50.
1. What will be amount of sales if Mr. Chowdhury wants a monthly profit of TK 30000?
A. 1,12,500
B. 1,20,000
C. 1,85,600
D. 1,87,500
2. If Chowdhury Bakery has the highest market demand of 4000 packets per month what would
be the probable percentage change in price of per packet of biscuit if Mr. Chowdhury wants
the same level profit?
A. decrease by 6.25%
B. increase by 7.32%
C. increase by 6.25%
D. decrease by 6.12%
3. A. Ananda & Co., a firm of consultants (engineers) provides technical consultancy to different
construction contractors. The consultancy absorbs overheads on chargeable consulting hours.
Budgeted overheads were Tk. 725,000 and actual consulting hours were 42,300. Overheads
were under absorbed Tk. 47,000. If actual overheads were Tk. 755,600, what was the
budgeted overhead absorption rate per hour?
A.

Tk. 16.75

B.

Tk. 17.21

C.

Tk. 15.95

D. Tk. 15.87
4. Adjustments for unearned revenues:
A.

decrease liabilities and increase revenues

B.

have an assets and revenues account relationship

C.

increase assets and Increase revenues

D. decrease revenues and decrease assets

SetC

5.

A credit sale of Tk 750 is made on June 13. Terms 2/10 net/30. A return of Tk. 50 is granted
on June 16. The amount received as payment in full on June 23 is:
A. Tk. 700.
B. Tk. 686.
C.

Tk. 685.

D. Tk. 650.
6.

Which of the following should not be included in the physical Inventory of a company?
A.

7.

Goods held on consignment from another company.

B.

Goods shipped on consignment to another company.

C.

Goods in transit from another company shipped FOB shipping point.

D.

None of the above.

M & M Company has sales of Tk. 150, 000 and cost of goods available for sale of Tkl35, 000.
If the gross profit rate is 30%. the estimated cost of the ending inventory under the gross
profit method is:
A. Tk 15,000.
B.

Tk 30,000.

C.

Tk 45,000.

D. Tk 75,000.
8.

Ben Tex Company had net credit sales of Tk 750,000 on January 1, 2010. Allowance for
Doubtful Accounts had a credit balance of Tk 18,000. During 2010. Tk 30,000 of uncollectible
accounts receivable were writtenoff. Past experience Indicates that 3% of net credit sales
became uncollectible. What should be the adjusted balance of Allowance for Doubtful
Accounts at December 31 2010?
A. Tk. 10,050.
B.

Tk. 10.500.

C.

Tk. 22.500.

D. Tk. 40,500.
9. The guideline of IAS -8 for a change in estimated depreciation is:
A.

previous depreciation should be corrected.

B.

current and future years' depreciation should be revised

C.

only future years' depreciation should be revised.

D.

None of the above.

10. Which of the following constitute a complete set of financial statements as per BAS-1?
1.

Statementof financial position

2.

Statement of financial performance

3.

Statement of changes In equity .

4.

Statement of cash flows

5. Accounting policy and notes to the financial statements

A.

(1), (2) and (3) only

B.

(1), (2) and (4) only

C.

(1) and (2) only

D. Ail of them
11. A company has Tk. 1,000,000 - 5 % redeemable preference share in Issue. According BAS 32
Financial Instruments: where will the dividend payment be shown?
A.

Dividend paid in the statement of changes in equity

B.

Dividend paid in the statement of changes In equity

C.

Interest expense in the statement of comprehensive income

D.

Dividend paid in the statement of financial position

12. Which of the following should be included in the company's statement of financial position as
per BAS 38?
A.

Payment on account of patents

B.

Expenditure on completed research

C.

Brand developed by the company

D.

Internally-generated goodwill

J & B Limited purchased freehold land and buildings on 1 July 2000 for Tk. 380,000 including
Tk.80,000 for the land. The buildings had been depreciated at the rate of 4% per annum on cost for
each of the ten years to 30 June 2010. On 1 July 2012 the property was professionally revalued at
Tk. 800,000 Including Tk. 200,000 for the land, an amount which was reflected In the books. At 1 July
2012 it was estimated that the building had a remaining useful life of twenty years and a residual
value of Tk. 100,000.
13. In accordance with BAS 16 Property, plant and equipment what should be the surplus on
revaluation be on 1 July 2012?
A.

Tk. 420,000

B.

Tk. 540,000

C. Tk. 572,000
D. T1^. 620,000
14. What will be the carrying amount of freehold land and buildings on 30 June 2013?
A.

Ik.

760,000

B.

Tk.765,000

C.

Tk.770,000

D.

Tk.775,000

15. Which of these would cause the inventory turnover ratio to increase the most?
A.

Increasing the amount of inventory on hand.

B.

Keeping the amount of inventory on hand constant but increasing sales.

C.

Keeping the amount of inventory on hand constant but decreasing sales.

D.

Decreasing the amount of inventory on hand and increasing sales.

16. In the context of statutory audit which of the following is not an example of expectation gap?
The belief that
A.

The audit report certifies the financial statements are correct

B.

The auditor's principal duty is to detect fraud

C.

The auditor is employed by the directors

D. The auditor check all transactions

17. Which of the following best describes an attitude of processional skepticism?
The auditor should
A.

Not believe anything that management tells him

B.

Not believe anything that management tells him, without obtaining supporting
evidence

C.

Apply a questioning mind to the Information and evidence he obtains

D.

Always assume the worst outcome in case of uncertainty

18. Which of the following best describes the concept of assurance?

Assurance refers to
A.

An assurance firm's high level of satisfaction as to the reliability of an assertion being

B.

An assurance firm's satisfaction as to the reliability of an assertion being made by

made by one party for the use of another party

one another party for the use of another party

Se: C

C.

A user's satisfaction as to the reliability of an assurance being made by another party

D. An assurance firm's limited level of satisfaction as to the reliability of an assertion

being made by one party for the use of another party.
19. An audit committee Is a committee with responsibility for related matters comprised of which
of the following?
A.

Executive directors only

B.

Non-executive directors only

C.

Non executive directors and internal auditors

D.

Non executive directors and external auditors

20. Which of the following is an example of inherent risk?

A.

Directors' pay is related to company profitability

B.

Senior management regularly override the systems of control

C.

Sample sizes have been incorrectly calculated by the auditor and are too small

D. Audit staffs do not have the required skill and experience

International Business, Taxation and Corporate Affairs:

20

1. The Memorandum of Association of a company limited by shares does not include:

A.

The object of the company

B. The liability of the members

C. Powers of Directors

D. The registered office of the company

2. Alteration of Memorandum of Association of a company shall not take effect until and except
it isA.

Confirmed by the Court

B.

Bangladesh Bank

C.

Ministry of Commerce

D.

Both(A)&(B)

3. The maximum number of members of a Private Limited Company as per Companies Act 1994
is A. 50 persons
4.

B. 52 persons

C. 45 persons

D. 20 persons

A company shall be deemed to be a subsidiary of another company as per Company Act 1994
if that another company
A.

controls half of the voting power of that first mentioned company

B.

has controlling interest in operational and management policy making

C.

finance 100% of the total debt of the first company.

D. all of the above

5. In case of partnership business partners are subject to
A.

unlimited liability

B.

35% tax rates at times of individual assessment

C.

contractual relationship

D.

BothCA)&(C}

6. The legal existence of a company is formed after:

A.

receiving Certificate of Incorporation

B.

receiving Certificate of commencement

C.

approval of Memorandum of Association

D. approval of Articles of Association

SetC

7.

Which of the following is the recent example of corporate merger in Bangladesh?

A.

Bangladesh Development Bank Limited

B.

Bangladesh House Building Finance Corporation

C.

United Leasing Company Limited

D.

Dutch- Bangia Bank Limited

8.

What is the maximum limit of income tax exempted income for an individual?

9.

What is the applicable tax rate for Bank, Insurance and financial institutions?

A. Tk. 200,000 B. 180,000

A. 45%

B. 42.5%

C. 225,000
C. 37.5%

D. 165,000
D. 3 5 %

10. What Is the minimum tax applicable for companies irrespective of profit/loss?
A. Tk. 5000

B. Tk. 4000

C. Tk. 2000

(D) 0.50% of gross receipts

11. AS per ITO 1984 in respect of an income year 'Resident' means - an individual who has been
in Bangladesh for a period of, or for periods amounting in all to

days or more in that

year.
A. 180

B.175

C.150

D.182

12. What is the maximum applicable tax rate for the income of an individual as per rro
A.35%
B.25%
C.20%
D. 27.5%

1984?

13. What is the applicable rate of TDS from payment of dividends to a company as per ITO
1984?
A. 20%

B. 10%

C. 15%

D. 12%

14. T h e Value Added Tax (VAT) Act has been effected in Bangladesh from
A. 1'^ July 1991
B. I'' July 199o
C 1"* July 1992
(D) 3"^ September 1989
15. In international trade exporter receives the assurance of payment from the importer through(A) International Invoice
(B) Bill of Lading
(C) Shipping Report
(D) Letter of Credit
16. The
A.
B.
C.
D.

Acronym CDBL means:

Cost of Delivery & Billing
Central Depository Bangladesh Limited
Central Depository Bank Limited
Central Development Bank limited

17. U B O R stands for:

A.

Loan Interest Buy Out Ratio

B.

Loyd's Inter Branch Offering Rate

C.

London Inter Bank Offered Rate

D.

Loan Information Bureau Official Rating

18. The right of a bank to retain possession of goods owned by a loan taker until the bank's claim
is satisfied Is calledA. Lien

B. Hypothecation

C. Pledge

D. Bank Draft

19. Which of the following currency is issued by the Government of Peoples' Republic of
Bangladesh?
A. Two (2) taka Note

B. Five (5) taka Note

D. Hundred (100) taka Note

C. One thousand (1000) Tk. Note

SetC

20. Credit facilities provided by commercial banks against imported

goods is called:
(A) LJM
(B) LTR
(C)PAD
(D) Cash Credit

Test of Logical Ability:

6x2=12

A manager who has exactly four business projects- F, G, H and I - to undertake in a given month has
made the following determinations:
F has priority over G. H has priority over I.
If one project has priority over another, the project with priority must be started earlier than the
other one.
Answer the following questions
1.

Given only the determination each of the following Is a possible sequence in which the four
projects could be started EXCEPT

A.

F, G, H, I

B.

F, H, G, I

2.

If each of the projects equally long to complete. It must be true that

A.

F is completed before H is completed

B.

F is completed before I is completed

C.

G is completed before H is completed

D.

H Is completed before I Is completed

C. F,H, I, G

D.H, G, F, I

3. There would be exactly one order In which the four projects would have to be started if It
were determined that
A.

F has priority over H

B.

F has priority over I

C.

H has priority over G

D.

I has priority over F

4.

Which of the following pairs of additional determinations would NOT conflict with the
priorities initially determined?

A.

F has priority over H, and I has priority over F.

B.

F has priority over I, and H has priority over G.

C.

G has priority over H, and I has priority over F.

D.

G has priority over H, and I has priority over F.

5.

Advertisement: Today's customers expect high quality. Every advance in the quality of
manufactured products raises customer expectations. The company that is satisfied with the
current quality of its products will soon find that its customers are not. At MegaCorp, meeting
or exceeding customer expectation Is our goal.

Which of the following must be true on the basis of the statements in the advertisement above? 2
A.

MegaCorp's competitors will succeed in attracting customers only if those competitors adopt
MegaCorp's goal

B.

A company that does not currently anticipate the expectations of its customers is certain to
fail in advancing the quality of its products.

C.

MegaCorp's goal is possible to meet only if continuing advances in product quality are
possible.

D. If a company becomes satisfied with the quality of Its products, then the quality of its
products is sure to decline.

6.

Although aspirin has been proven to eliminate mode rate fever associated with some illness,
many doctors no longer routinely recommend its use for this purpose. A moderate fever
stimulates the activity of the body's disease-fighting white blood cell and also inhibits the
growth of many strains of disease causing bacteria. If the statements above are true, which
of the following conclusions is most strongly supported by?

A.

Aspirin an effective painkiller alleviates the pain and discomfort of many illnesses.

B.

Aspirin can prolong a patient's illness by eliminating moderate fever helpful in fighting some

C.

Aspirin inhibits the growth of white blood cell, which are necessary for some illness.

diseases.
D. The more white blood cells a patient's body produces the

Writing:

9x2=18

Discuss the extent to which you agree or disagree with the opinion stated above. Support your views
with reasons and/or specific examples from your own experience, observation or reading.

1.

"Corporation and other businesses should try to eliminate the many ranks and salary grades
that classify employees according to their experience and expertise. A 'flat' organizational
structure is more likely to encourage collegiality and cooperation among employees."

2.

"All groups and organizations should function as teams in which everyone makes decisions
and share responsibilities and duties. Giving one person central authority and responsibility
for a project or task is not an effective way to get work done."