Chapter 6
Accountancy and Economics
+2 college entrance (after SEE) past exam questions
Past questions and answers
20 questions set from this chapter, 10 of them more than once; 10 are most repeated (set, or a close variant set, in 3 or more exams). Most repeated first.
- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
………… is prepared to check arithmetic accuracy of accounting.
(a) Balance Sheet
(b) Journal
(c) Trial Balance
(d) all of them
Answer
(c) Trial Balance
A trial balance lists all ledger debit and credit balances; if the totals agree, the books are arithmetically accurate.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
………… is concerned with identification, recording, classifying, summarizing and analyzing financial transaction.
(a) Science
(b) Mathematics
(c) Accounting
(d) All of them
Answer
(c) Accounting
Accounting is the process of identifying, recording, classifying, summarizing and analyzing financial transactions.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
Every financial transaction has two sided effect, according to …………..
(a) Duality concept
(b) Going concern concept
(c) Cost concept
(d) Money measurement concept
Answer
(a) Duality concept
Every transaction affects at least two accounts, one debited and one credited by equal amounts. This is the dual aspect (duality) concept: Assets = Liabilities + Capital.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
Which of the following transactions is not financial transaction?
(a) Buying furniture
(b) Paying salary
(c) Depositing cash to bank
(d) Receiving phone call
Answer
(d) Receiving phone call
A financial transaction can be measured in money and changes assets, liabilities or capital. Receiving a phone call involves no money, so it is not one.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
……….. is the central bank of Nepal.
(a) Nepal Bank Limited
(b) Nepal Rastra Bank
(c) Everest Bank Limited
(d) Agricultural Development Bank
Answer
(b) Nepal Rastra Bank
Nepal Rastra Bank, established in 2013 BS (1956 AD), is the central bank of Nepal. It issues currency and regulates the banking system.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
National financial status is observed by ………..
(a) Physics
(b) Chemistry
(c) Economics
(d) Disaster Management Study
Answer
(c) Economics
Economics studies the production, distribution and consumption of wealth, and so describes a nation's financial condition.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
…………….. is not an Economist.
(a) Adam Smith
(b) Marshall
(c) Robinson
(d) Newton
Answer
(d) Newton
Adam Smith, Alfred Marshall and Joan Robinson were economists. Isaac Newton was a physicist and mathematician.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
The general price level rises during the period of ……………
(a) Inflation
(b) Deflation
(c) Political Stability
(d) Political Uncertainty
Answer
(a) Inflation
Inflation is a sustained rise in the general price level. Deflation is a fall in it.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
Car and …….. are complementary products.
(a) Motorbike
(b) Petrol
(c) Bus
(d) Television
Answer
(b) Petrol
Complementary goods are used together, so demand for one rises with the other. A car needs petrol to run. Motorbike and bus are substitutes for a car.
Answer checked by Claude Sonnet · Oct 21, 2026
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- Most repeated · 3 of 11 exams
- Asked 3 times
- 2080 · Management Model · 1 mark
- 2083 · Management Model · 1 mark
- 2081 · Management Model · 1 mark
The current economic growth rate of Nepal is ………..
(a) 2.5
(b) 6.9
(c) 7
(d) 0
Answer
(b) 6.9
Among the options, 6.9 percent is the figure the question expects as Nepal's recent growth rate. The exact figure changes with each fiscal year's official estimate.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
…………… is known as father of accounting.
(a) Luca Pacioli
(b) Sir Isaac Newton
(c) Archimedes
(d) Nil Armstron
Answer
(a) Luca Pacioli
Luca Pacioli, an Italian mathematician, published the double-entry system in 1494 and is called the father of accounting.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
……….. is known as book of primary records.
(a) Ledger
(b) Final Account
(c) Journal Entry
(d) Trial Balance
Answer
(c) Journal Entry
Transactions are first recorded in the journal in chronological order, so it is the book of original (primary) entry; the ledger is the book of secondary entry.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
Which of the following has credit balance?
(a) Capital
(b) Liabilities
(c) Income
(d) all of them
Answer
(d) all of them
Capital, liabilities and income all increase by a credit and normally have credit balances, whereas assets and expenses have debit balances.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
……… keeps the record of expenditure and income of the government.
(a) Business Accounting
(b) Government Accounting
(c) Cost Accounting
(d) None of them
Answer
(b) Government Accounting
Government accounting records the receipts (income) and expenditure of the government.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
Which of the following bank has monopoly right to issue notes and coins in Nepal?
(a) Development Bank
(b) Commercial Bank
(c) Central Bank
(d) Microfinance Enterprise
Answer
(c) Central Bank
Nepal Rastra Bank, the central bank, has the sole right to issue notes and coins in Nepal.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
…………… is an example of tangible assets.
(a) Land
(b) Goodwill
(c) Copyright
(d) Trade Mark
Answer
(a) Land
Tangible assets have physical existence and can be seen and touched; goodwill, copyright and trade mark are intangible.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
Which one of the followings is an Economist?
(a) Adam Smith
(b) Nil Armstrong
(c) Sir Isaac Newton
(d) Archimedes
Answer
(a) Adam Smith
Adam Smith, author of The Wealth of Nations, is known as the father of economics. Armstrong was an astronaut, Newton a physicist and Archimedes a mathematician.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
The price of commodities ………….. as the demand of the commodities increases.
(a) increases
(b) decreases
(c) does not change
(d) may increase or decrease
Answer
(a) increases
Other things remaining equal, a rise in demand pushes up the price of a commodity.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
Tea and ……….. are substitute products.
(a) sugar
(b) breakfast
(c) coffee
(d) meal
Answer
(c) coffee
Substitutes can be used in place of one another to satisfy the same want; sugar is a complementary good to tea.
Answer checked by Claude Sonnet · Oct 21, 2026
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- 2079 · Management and Humanities Model
…………. is responsible for preparing budget of the nation.
(a) Education Minister
(b) Prime Minister
(c) President
(d) Finance Minister
Answer
(d) Finance Minister
The Finance Minister prepares the annual budget and presents it to the Federal Parliament.
Answer checked by Claude Sonnet · Oct 21, 2026
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Questions from CCRC Entrance Model Question 2077 (Science) (College model paper for the +2 Science entrance, 100 MCQs, 2077 BS; page images posted on a student blog), CCRC Entrance Examination Model Questions 2080 (Science) (College model paper for the +2 Science entrance, 100 MCQs; linked from the CCRC model questions page (ccrc.edu.np/modelquestions/) and posted as 2080 images on a student blog), CCRC Entrance Examination Model Questions 2080 (Management) (College model paper for the +2 Management entrance, 100 MCQs, 2080 BS), CCRC Entrance Examination Model Questions (Management), current model on the admission page (Management model paper linked from ccrc.edu.np/modelquestions/ for the 2083/84 admission; same questions as the 2080 paper), CCRC Entrance Model Question 2079 (Management/Humanities) (College model paper for the +2 Management/Humanities entrance, 2079 BS), CCRC Model Question for Grade XI Admission (+2 Law) (College model paper for the +2 Law entrance (language test and 50 MCQs), posted 2022 (2079 BS)), CCRC Entrance Examination Model Questions 2081 (Science) (College model paper for the +2 Science entrance, 100 MCQs, posted June 2024 (2081 BS)), CCRC Entrance Examination Model Questions 2081 (Management) (College model paper for the +2 Management entrance, 100 MCQs, posted June 2024 (2081 BS)), CCRC Entrance Model Question 2079 (Science) (College model paper for the +2 Science entrance, 100 MCQs, 2079 BS), CCRC Entrance Model Question 2077 (Management) (College model paper for the +2 Management entrance, 75 MCQs, 2077 BS) and CCRC Entrance Examination Model Questions 2080 (Law) (College model paper for the +2 Law entrance (language test and 50 MCQs), 2080 BS). Answers are written for this site; check them against your class notes.