Code No: 117FG Set No.

1
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
IV B.Tech. I Sem., I Mid-Term Examinations, September - 2017
MINE ECONOMICS
Objective Exam
Name: ______________________________ Hall Ticket No. A
Answer All Questions. All Questions Carry Equal Marks. Time: 20 Min. Marks: 10.

I. Choose the correct alternative:

1. Mining enterprise represents an investment with [ ]

A) finite life time B) Infinite life time C) 10 years D) 30 years

2. Type of accounting concerned with record keeping directed towards the preparation of Trial balance,
profit and loss account and balance sheet [ ]
A) Financial Accounting B)Cost Accounting C) Management Accounting D) Tax Accounting

3. The art of recording business dealings in set of books is called [ ]

A) Note B) Book Keeping C) Accounting D) Record

4. Accounting that deals with application of managerial economic concepts for decision making for the
efficient running of the business and thus in maximizing profits is [ ]
A) Financial Accounting B) Cost Accounting C) Management Accounting D) Tax Accounting

5. Rank of India in world coal production as per 2016 figures [ ]

A)First B)Second C)Fifth D) Seventh

6. How many accounting systems of keeping records are there? [ ]

A) One B) Two C)Three D) Four

7. The accounting system based on scientific principle and is used universally by most of business
organizations is [ ]
A) Single B) Quad C) Triple D) Double

8. The books used to record non-cash transactions like credit sales, credit purchases, Sales Returns,
Purchase Returns are [ ]
A) Journal B) Ledger C) Cash book D) Book

9. Things that are resources owned by a company and which have future economic value that can be
measured and can be expressed in rupees [ ]
A) Liabilities B) Assets C) Reserves D) Forex

10. The purpose of financial statements is to communicate the [ ]

A) State of the business B) assets C) Liabilities D) None

Cont..2
Code No: 117FG :2: Set No. 1

II Fill in the Blanks

11. In business or commerce, we deal with ____________________ type of interest on varying value of
money.
12. ___________________ may be defined as the process of recording, classifying, summarizing, analysing
and interpreting the financial transactions and communicating the results there of to the persons
interested in such information.

13. ______________ is the process of accounting for costs that shows classification and analysis of cost on
the basis of functions process, products etc. It also deals with cost computation, cost saving, cost
reduction etc.

14. The system of entry followed by sole proprietor, having total control on cash as well as on goods is
________________.

15. ___________ is used to record cash receipts and payments including receipts and Payments through
Bank.

16. _______________ contains a classified summary of all transactions recorded in cash book and journal.

17. A ___________ is typically an amount owed by a company to a supplier, bank, lender, or other provider
of goods, services, or loans.

18. Under _____________ of accounting entries are made only when cash is received or paid. No entry is
made when amount is due for receipts or payments.

19. Under _________________ of accounting business transactions are recorded as and when it take place
irrespectful of amount / cash received or paid. Income earned as well as expenses incurred are recorded
related to the Particular period.

20. The full form of GST is _________________.

-oOo-
Code No: 117FG Set No. 2
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
IV B.Tech. I Sem., I Mid-Term Examinations, September - 2017
MINE ECONOMICS
Objective Exam
Name: ______________________________ Hall Ticket No. A
Answer All Questions. All Questions Carry Equal Marks. Time: 20 Min. Marks: 10.

I. Choose the correct alternative:

1. Accounting that deals with application of managerial economic concepts for decision making for the
efficient running of the business and thus in maximizing profits is [ ]
A) Financial Accounting B) Cost Accounting C) Management Accounting D) Tax Accounting

2. Rank of India in world coal production as per 2016 figures [ ]

A)First B)Second C)Fifth D) Seventh

3. How many accounting systems of keeping records are there? [ ]

A) One B) Two C)Three D) Four

4. The accounting system based on scientific principle and is used universally by most of business
organizations is [ ]
A) Single B) Quad C) Triple D) Double

5. The books used to record non-cash transactions like credit sales, credit purchases, Sales Returns,
Purchase Returns are [ ]
A) Journal B) Ledger C) Cash book D) Book

6. Things that are resources owned by a company and which have future economic value that can be
measured and can be expressed in rupees [ ]
A) Liabilities B) Assets C) Reserves D) Forex

7. The purpose of financial statements is to communicate the [ ]

A) State of the business B) assets C) Liabilities D) None

8. Mining enterprise represents an investment with [ ]

A) finite life time B) Infinite life time C) 10 years D) 30 years

9. Type of accounting concerned with record keeping directed towards the preparation of Trial balance,
profit and loss account and balance sheet [ ]
A) Financial Accounting B)Cost Accounting C) Management Accounting D) Tax Accounting

10. The art of recording business dealings in set of books is called [ ]

A) Note B) Book Keeping C) Accounting D) Record

Cont..2
Code No: 117FG :2: Set No. 2

II Fill in the Blanks

11. The system of entry followed by sole proprietor, having total control on cash as well as on goods is
________________.

12. ___________ is used to record cash receipts and payments including receipts and Payments through
Bank.

13. _______________ contains a classified summary of all transactions recorded in cash book and journal.

14. A ___________ is typically an amount owed by a company to a supplier, bank, lender, or other provider
of goods, services, or loans.

15. Under _____________ of accounting entries are made only when cash is received or paid. No entry is
made when amount is due for receipts or payments.

16. Under _________________ of accounting business transactions are recorded as and when it take place
irrespectful of amount / cash received or paid. Income earned as well as expenses incurred are recorded
related to the Particular period.

17. The full form of GST is _________________.

18. In business or commerce, we deal with ____________________ type of interest on varying value of
money.
19. ___________________ may be defined as the process of recording, classifying, summarizing, analysing
and interpreting the financial transactions and communicating the results there of to the persons
interested in such information.

20. ______________ is the process of accounting for costs that shows classification and analysis of cost on
the basis of functions process, products etc. It also deals with cost computation, cost saving, cost
reduction etc.

-oOo-
Code No: 117FG Set No. 3
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
IV B.Tech. I Sem., I Mid-Term Examinations, September - 2017
MINE ECONOMICS
Objective Exam
Name: ______________________________ Hall Ticket No. A
Answer All Questions. All Questions Carry Equal Marks. Time: 20 Min. Marks: 10.

I. Choose the correct alternative:

1. How many accounting systems of keeping records are there? [ ]

A) One B) Two C)Three D) Four

2. The accounting system based on scientific principle and is used universally by most of business
organizations is [ ]
A) Single B) Quad C) Triple D) Double

3. The books used to record non-cash transactions like credit sales, credit purchases, Sales Returns,
Purchase Returns are [ ]
A) Journal B) Ledger C) Cash book D) Book

4. Things that are resources owned by a company and which have future economic value that can be
measured and can be expressed in rupees [ ]
A) Liabilities B) Assets C) Reserves D) Forex

5. The purpose of financial statements is to communicate the [ ]

A) State of the business B) assets C) Liabilities D) None

6. Mining enterprise represents an investment with [ ]

A) finite life time B) Infinite life time C) 10 years D) 30 years

7. Type of accounting concerned with record keeping directed towards the preparation of Trial balance,
profit and loss account and balance sheet [ ]
A) Financial Accounting B)Cost Accounting C) Management Accounting D) Tax Accounting

8. The art of recording business dealings in set of books is called [ ]

A) Note B) Book Keeping C) Accounting D) Record

9. Accounting that deals with application of managerial economic concepts for decision making for the
efficient running of the business and thus in maximizing profits is [ ]
A) Financial Accounting B) Cost Accounting C) Management Accounting D) Tax Accounting

10. Rank of India in world coal production as per 2016 figures [ ]

A)First B)Second C)Fifth D) Seventh

Cont..2
Code No: 117FG :2: Set No. 3

II Fill in the Blanks

11. _______________ contains a classified summary of all transactions recorded in cash book and journal.

12. A ___________ is typically an amount owed by a company to a supplier, bank, lender, or other provider
of goods, services, or loans.

13. Under _____________ of accounting entries are made only when cash is received or paid. No entry is
made when amount is due for receipts or payments.

14. Under _________________ of accounting business transactions are recorded as and when it take place
irrespectful of amount / cash received or paid. Income earned as well as expenses incurred are recorded
related to the Particular period.

15. The full form of GST is _________________.

16. In business or commerce, we deal with ____________________ type of interest on varying value of
money.
17. ___________________ may be defined as the process of recording, classifying, summarizing, analysing
and interpreting the financial transactions and communicating the results there of to the persons
interested in such information.

18. ______________ is the process of accounting for costs that shows classification and analysis of cost on
the basis of functions process, products etc. It also deals with cost computation, cost saving, cost
reduction etc.

19. The system of entry followed by sole proprietor, having total control on cash as well as on goods is
________________.

20. ___________ is used to record cash receipts and payments including receipts and Payments through
Bank.

-oOo-
Code No: 117FG Set No. 4
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
IV B.Tech. I Sem., I Mid-Term Examinations, September - 2017
MINE ECONOMICS
Objective Exam
Name: ______________________________ Hall Ticket No. A
Answer All Questions. All Questions Carry Equal Marks. Time: 20 Min. Marks: 10.

I. Choose the correct alternative:

1. The books used to record non-cash transactions like credit sales, credit purchases, Sales Returns,
Purchase Returns are [ ]
A) Journal B) Ledger C) Cash book D) Book

2. Things that are resources owned by a company and which have future economic value that can be
measured and can be expressed in rupees [ ]
A) Liabilities B) Assets C) Reserves D) Forex

3. The purpose of financial statements is to communicate the [ ]

A) State of the business B) assets C) Liabilities D) None

4. Mining enterprise represents an investment with [ ]

A) finite life time B) Infinite life time C) 10 years D) 30 years

5. Type of accounting concerned with record keeping directed towards the preparation of Trial balance,
profit and loss account and balance sheet [ ]
A) Financial Accounting B)Cost Accounting C) Management Accounting D) Tax Accounting

6. The art of recording business dealings in set of books is called [ ]

A) Note B) Book Keeping C) Accounting D) Record

7. Accounting that deals with application of managerial economic concepts for decision making for the
efficient running of the business and thus in maximizing profits is [ ]
A) Financial Accounting B) Cost Accounting C) Management Accounting D) Tax Accounting

8. Rank of India in world coal production as per 2016 figures [ ]

A)First B)Second C)Fifth D) Seventh

9. How many accounting systems of keeping records are there? [ ]

A) One B) Two C)Three D) Four

10. The accounting system based on scientific principle and is used universally by most of business
organizations is [ ]
A) Single B) Quad C) Triple D) Double

Cont..2
Code No: 117FG :2: Set No. 4

II Fill in the Blanks

11. Under _____________ of accounting entries are made only when cash is received or paid. No entry is
made when amount is due for receipts or payments.

12. Under _________________ of accounting business transactions are recorded as and when it take place
irrespectful of amount / cash received or paid. Income earned as well as expenses incurred are recorded
related to the Particular period.

13. The full form of GST is _________________.

14. In business or commerce, we deal with ____________________ type of interest on varying value of
money.
15. ___________________ may be defined as the process of recording, classifying, summarizing, analysing
and interpreting the financial transactions and communicating the results there of to the persons
interested in such information.

16. ______________ is the process of accounting for costs that shows classification and analysis of cost on
the basis of functions process, products etc. It also deals with cost computation, cost saving, cost
reduction etc.

17. The system of entry followed by sole proprietor, having total control on cash as well as on goods is
________________.

18. ___________ is used to record cash receipts and payments including receipts and Payments through
Bank.

19. _______________ contains a classified summary of all transactions recorded in cash book and journal.

20. A ___________ is typically an amount owed by a company to a supplier, bank, lender, or other provider
of goods, services, or loans.

-oOo-