Mb0041 Assignment Set 23


Q.1 Write the differences between Auditing and Accounting?Ans:- Difference between accounting and auditingAccounting

is process of identifying, measuring, and communicating economic information tovarious users.Accounting is defined (by the American Institute of Certified Public Accountants) (AICPA) as"the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpretingthe results thereof. Today, accounting is called "the language of business" because it is thevehicle for reporting financial information about a business entity to many different groups of  people. Accounting that concentrates on reporting to people inside the business entity iscalled management accounting and is used to provide information to employees,managers, owner-managers and auditors..Accounting requires that an accountant must have accounting knowledge while auditing work required that an auditor must have accounting as well as auditing knowledge. Accounting isconcerned with current data. It is constructive in nature. Accounting is done on a day-to-day basis in business. It is the recording of transactions, the accounting for depreciation, debt,revenue, etc., that are all a part of reporting the company's financial activities.The main goal of accounting is to provide a company with clear, comprehensive, and reliableinformation about its economic activities and status of its assets and liabilities. This informationis presented in the form of accounting reports like the balance sheet, income statement, statementof changes in equity (also called

 shareholders’ equity statement 

), and statement of cash flows(also called

cash flow statement 

). By means of accounting reports it is possible to perform thefollowing (list non-inclusive):

Understand and re-allocate internal resources of the company to ensure its financialstability

Review profitability of the company’s economic activities

Understand the company’s cash inflows and outflows

Verify conformity of a company’s economic activities to government regulationsInternal users of accounting reports are managers, owners, and employees. External users of accounting reports are investors, creditors, and government.


is independent appraisal performed by an independent expert of an activity or event. Thereare operational, technical, ecological and other types of audit. Most commonly, nevertheless, thisterm refers to audits of financial statements.Audit of financial statements is the process of examining the financial statements and theunderlying records of the company in order to render an opinion as to whether the statements are

MB0040 – Statistics for Management


1.       Merits & demerits of GM.

2.       Step by step procedure to identify the right statistics for the test.

3.       Explain five important laws of sampling theory.

4.       What are requisites of a good classification? Explain


1.       The sum of Bernouli trial follows _________ distribution.

Poisson                                                                                Geometric

Normal                                                                 Bionomial

2.       ________ is defined as, “the measure of the average relationship between two or more variables in terms of the original units of the data”.

Regression                                                         Statistics

Correlation                                                         ANOVA

3.       The probability that a bomb dropped on a bridge, will hit the bridge is 0.5. Eight bombs are dropped on the bridge. Find the probability that all bombs hit the bridge.

See Solved Problem 4 Page 270

4.       Which of the following is not a type of bar chart:

Multiple                                                               Multiple Ogive

Percentages                                                       Subdivided

5.       The mean of t-distribution is

Zero                                                                       Undefined

Less than One                                                   One

6.       State True of False:

Schedules make respondents record their answers.

A covering letter to the questionnaire brings confidence in respondents.

False, True

7.       Answer to which of the following question is not related to the planning or budgeting exercise?

Where we are?                                                 How did we reach here?

Why we reached here?                                 Where we ought to reach?

8.       The range of standard normal distribution is:

0 to ¥                                                   0 to q

-¥ to +¥                                             -¥ to 0

9.       Interval estimate is a ______of values used to estimate a population parameter.

Set                                                                         Subset

Range                                                                   Pair

10.   The origin of statistics can be traced to

State                                                                     Commerce

Economics                                                           Industry

11.   The totality of all units or individuals in a survey is called Population or Universe.

12.   The Chain Relative of current year is

(Average link relative of current year x Chain relative of previous year) /100

(Average link relative of current year – Chain relative of previous year) /100

(Average link relative of current year + Chain relative of previous year) /100

(Average link relative of current year / Chain relative of previous year) /100

13.   While throwing a die, the events A = {2, 4, 6}, B= {3, 5} and C = {1} are _______.

Dependent                                                         Independent

Equally likely                                                      Mutually exclusive

14.   ______ is an unbiased estimate of the mean of the population from which it was drawn.

Sample C.V.                                                        Sample mean

Population Variance                                       None of the above

15.   Laspeyre’s method is based on fixed weights of the _______year.

Base year                                                            base year price

Current year                                                      Current year price

16.   Which of the following statement is most appropriate:

Nature believed in statistics                        Nature created statistics

Nature believed in variation                      Nature believed in symmetrical variation

17.   ______ can’t be computed if any of the items is zero or negative

Harmonic Mean                                                                Geometric Mean

Arithmetic Mean                                              Mode

18.   The chi-square test is based on

Degrees of freedom                                       Parameters

Frequencies                                                       Number of Observations

19.   State True of False:

Price Index Number is useful to measure the change in purchasing power of currency, real income.

Price Index Number helps the government in formulating wage policy, price policy, taxation and general economic policies.

True, True

20.   State True of False:

Long term movements in time series are called Secular Trend.

Variations that occur within a year are known as Irregular Variations

True, False

21.   Non sampling error include:

Mistakes                                                              Bias

Both                                                                      None

22.   ______________ are called irregular movements:

Random variations                                          Periodic variations

Long Term Growth                                          Long Term Oscillation

23.   State True or False

Tabulation presents the data in a minimum space.

Tabulation is a process of analysis

True, False

24.   Given X= 2.14 (x bar), t=3.012, S=1.29, n=14, than the confidence interval for the population mean is

2.13.18                                                                  1.14.18

1.13.18                                                                  1.12.81

25.   Coefficient of variation in % =

S.D/Mean                                                           (S.D/Mean) x 100

Mean/S.D                                                           (Mean/S.D) x 100

26.   A graph in the form of steps is known as _____________.

27.   When testing for the independence in a contingency table with 3 rows and 4 columns, how many the degrees of freedom will the test statistic have? (Page 408)

5                                                                              6

7                                                                              12

28.   From the central limit theorem, we infer that the mean of the sampling distributions will be ______ the population mean.

Equal to                                                               less than

More than                                                          None

29.   Different method gives different averages which are known as the _________.

30.   Paasche’s price index method is based on current year’s quantities. Current year’s quantities are used as weights.

31.   ________ refers to the size of the standard error of the statistics.

Efficiency                                                            Sufficiency

Bias                                                                        Consistency

32.   _______ is a subset of the sample space.

Event                                                                    Subspace

Random Experiment                                      None

33.   The mean and variance of the “t” distribution are ______ & ________.

0, 1                                                                         0, Greater than 1

Greater than 1, Zero                                       Greater than 1, Greater than 0

34.   Algebraic sum of deviations of a set of values taken from their Arithmetic mean is

Positive                                                                                Minimum

Maximum                                                           zero

35.   Ratio Trend = (original data / trend value) x 100

36.   When the sample size ‘n’ is larger than 30 & Population Standard Deviation is known, then for testing mean the test used is ___________.

T-Test                                                                   z-test

F-Test                                                                   Chi-square test

37.   ________ is a statistical software package that was designed especially for the teaching of introductory statistics courses.

SPSS                                                                      EView

JMP                                                                       Minitab

38.   Multiple bar diagram is a type of ___________.

The diagram which is used to show percentages break down is ________.

Ogives, piechart                                                               Graph, Multiple bar diagram

Barchart, piechart                                            barchart, percentage bar diagram

39.   ________ can be used to measure the type of correlation between two variables.

40.   ________ divides the area under chi-square into two equal portion.

41.   Which of the following is true about the Chi-Square distribution?

It is a skewed distribution

Its shape depends on the number of parameters

42.   Analysis of variance is useful to test _____ equality of variance.

43.   __________ test is carried out based on the result of the earlier test.

Z                                                                              T

Post hoc                                                               Chi-Square

44.   Characteristics of Chi-Square test

Additive property is found in X2 test.

X2 test is based on frequencies and not on parameters.

True / True

45.   State True or False

Large sample size always results in minimising the standard error.

The principles of simple random sampling are the theoretical basis for statistical inference.

True, True

46.   State True or False

F-ratio is always calculated with respect to mean square error.

The F-distribution curve depends on the degrees of freedom.

True, True

47.   State True or False

Mean and standard deviation of Standard normal distribution are ‘1’ and ‘0’.

Mean, Median and Mode coincide in a Normal distribution.

False, True

48.   Mean of binomial distribution is _______

Np                                                                          npq

Np/q                                                                     nq/p

49.   If bxy=0.521 & byx=1.3.92 than r=

0.966                                                                     0.699

0.492                                                                     0.554

50.   A sample distribution is a distribution of a ________

Parameter                                                          Proportion

Mean                                                                    Statistics

51.   Calculate the harmonic mean of 9.7, 9.8, 9.5, 9.4, 9.7 (page 152)

52.   Which of the following property is not a desirable property of a point estimation:

Consistency                        Efficiency

Sufficiency                          Bias

53.   Two or more events are ____________if they have equal chance of occurrence.

Identical                                                               Independent

Equally Likely                                                    Mutually exclusive

54.   Geometric mean of 2,4,8 (Page 146)

MB0039 – Business Communication


1.       Characteristics of communication.

2.       Characteristics of non-verbal communication.

3.       Explain any four types of listening

4.       Explain different types of Corporate Advertising


1.       REDUNDANCIES refer to phrases which contain repetitive or unnecessary words to express the same meaning.

2.       PROXEMICS is the communication term for personal space and distance.

3.       Instant Messaging (IM) is a technology initially designed for having ONE-TO-ONE PERSONAL chat at workplaces.

4.       WIFM stands for WHAT’s IN IT FOR ME

5.       The word memo is a short form for memorandum, which is derived from the LATIN word.

6.       PRESENTATION is an example for oral face to face communication.

7.       Business letters are used primarily to communicate with EXTERNAL STAKEHOLDERS.

8.       seven habits of highly effective people was given by STEPHEN CONVEY

9.       Which among the following is a type of memo format? DEDUCTIVE ORGANIZATION

10.   ELEMENTS are the key words that are used to express the main ideas.

11.   RESEARCH REPORTS are the most complex and the longest of all reports.

12.   UPWARD communication may be defined as information that flows from subordinates to superiors.



1.       Define Organizational change. Identify various forces of change.

2.       Define organizing. Explain various importance of organizing.

3.       BCG Matrix.

4.       Characteristics of leading.


1.       Basic model of change has ______ steps.

2.       Reduction of costs gets ________results through  ________ input through proper planning

Minimum, Maximum                     Maximum, Minimum

Minimum, Minimum                      Maximum, Maximum

3.       People who can get things moving in a team are called

Creator Innovator                            Thruster Organizer

Explorer Promoter                          Assessor Developer

4.       Narrow span facilities close control, close supervision & faster __________

Change, growth, delegation, communication

5.       Two Key components of balanced scorecard are

Financial, Borrowers, Customer, Economy

6.       Based on importance planning can be

Proactive-Reactive, Formal-Informal, Business-Functional, Strategic-Operational

7.       Herzberg’s two factor theory, identifies two factors, they are HYEIGENE & MOTIVATOR factors.

8.       Maslow’s hierarchy of needs has FIVE levels of need hierarchy.

9.       Holland has proposed SIX themes of people & work environment within which all jobs can be classified and it is called

5, 6, 8, 10

10.   Rokeach, in his value survey proposed two set values ie. TERMINAL & INSTRUMENTAL values.

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