Reading Comprehension Questions

Multiple choice

The balance-sheet is related to the income statement in the same way that:

Directions: Read the following passage and answer the given question.

Accounting is the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by the users of the information, It primarily focusses on measurement, analysis, interpretation and use of information, As an information system, accounting links an information source, a channel of communication and set of receivers. Accounting system should be designed to classify financial information on a basis suitable for decision-making purposes and to process the tremendous quantities of data efficiently and accurately. Financial accounting is concerned with providing information to external users and it is oriented towards the preparation of final statements which summarises the results of operations for selected periods of time and show the financial position of business at particular date. Management accounting is concerned with providing information to managers to carry out their responsibilities and functions such as planning, execution, control and decision- making. The end product of the financial accounting process is a set of reports called financial statement, such as, profit and loss account, balance-sheet and statement of changes in financial position. Profit & loss account shows the results of operations for a period of time, balance-sheet shows financial position on certain date and statement of changes in financial position shows where the financial resources have come and where they have gone.

  1. A point in time is related to a period of time

  2. A period of time is related to a point in time

  3. A point in time is related to another point

  4. A period of time period of time is related to another

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

As stated in the passage, the balance-sheet shows financial position at a particular date (point in time), while the profit & loss account shows results of operations for a period of time. Therefore, a balance-sheet (point in time) is related to an income statement (period of time).

Multiple choice

The properties own by a business enterprise are called:

Directions: Read the following passage and answer the given question.

Accounting is the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by the users of the information, It primarily focusses on measurement, analysis, interpretation and use of information, As an information system, accounting links an information source, a channel of communication and set of receivers. Accounting system should be designed to classify financial information on a basis suitable for decision-making purposes and to process the tremendous quantities of data efficiently and accurately. Financial accounting is concerned with providing information to external users and it is oriented towards the preparation of final statements which summarises the results of operations for selected periods of time and show the financial position of business at particular date. Management accounting is concerned with providing information to managers to carry out their responsibilities and functions such as planning, execution, control and decision- making. The end product of the financial accounting process is a set of reports called financial statement, such as, profit and loss account, balance-sheet and statement of changes in financial position. Profit & loss account shows the results of operations for a period of time, balance-sheet shows financial position on certain date and statement of changes in financial position shows where the financial resources have come and where they have gone.

  1. Assets

  2. Liabilities

  3. Capital

  4. Owner's Equity

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Assets are economic resources owned by a business enterprise that have future economic value. The passage defines balance-sheet as showing financial position, which includes assets, liabilities, and equity. Properties owned by the business are its assets.

Multiple choice
  1. they have only found themselves sinking deeper into the morass

  2. they kept learning from their mistakes

  3. they have, indeed, seen a bright past

  4. their role in the international politics has been become stronger

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

‘Limped from economic crisis to crisis’ easily helps us to identify the idea given in option (1), with the passage. There has been no reference to ideas expressed in option (2), (3) and (4). Therefore, correct answer for this question is option (1).

Multiple choice
  1. However, there is a silver lining.

  2. The role of International Pollution Control Board is interesting.

  3. Things seem to be deteriorating every day.

  4. There is a growing awareness.

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Option (1) is invalidated because nowhere in the passage has a positive point been discussed. Also, the last line gives idea opposite to that in option (4). Option (2) can be neglected on account of lack of reference to International Pollution Control Board. Only option (3) can be considered as a part of the given passage. This implies option (3) as the correct answer.

Multiple choice
  1. QSRP

  2. RPSQ

  3. PSRQ

  4. SRPQ

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option 2 is correct.

Multiple choice
  1. vitamins

  2. calcium

  3. minerals

  4. Both (1) and (3)

  5. None of these

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Fruit has been recognized as a good source of vitamins and minerals.

Multiple choice
  1. Chandigarh

  2. Shimla

  3. Haryana

  4. Rajasthan

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The summer residence of the Governor of Punjab is at Shimla.

Multiple choice
  1. region

  2. government

  3. population

  4. department

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Here, province means area or territory.

Multiple choice
  1. For Maintenance of body

  2. Prevents development of kidney stones

  3. Reduces the risk of heart disease

  4. All of these

  5. None of these

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Nutrients in fruit are vital for health and maintenance of our body. The potassium in fruit can reduce the risk of heart disease and stroke. Potassium may also reduce the risk of developing kidney stones.

Multiple choice
  1. young

  2. adult

  3. injured

  4. tall

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option 2 is correct as it's mentioned “Sometimes, its calves are attacked by leopards but adult one is difficult to kill”.  Prey means to hunt and kill for food.  

Multiple choice
  1. fields

  2. dense forests

  3. grasslands

  4. towns

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is given in the passage that “it avoids dense forest”. Hence, option 2 is the correct answer.

Multiple choice
  1. Wild animal

  2. Blue bull

  3. Ox

  4. Cow

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is mentioned in the 2nd line of the passage. 'It is also known as blue bull'.

Multiple choice
  1. Its average height is 4-5 feet.

  2. It can weigh upto 240 kgs.

  3. It can live upto maximum 21 years.

  4. It likes to live with the others of its kind.

  5. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It is given that “Its average life span is 21 years” which means it can live beyond this time. So, option 3 is the correct answer.

Multiple choice
  1. hour

  2. age

  3. time

  4. year

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The phrase 'called the ___ of the Alchemists' refers to a historical period or era. 'Age' is the correct term for a distinct historical period (e.g., 'the Age of Enlightenment', 'the Stone Age'). 'Hour', 'time', and 'year' are too specific or general for this context.

Multiple choice
  1. themselves

  2. yourself

  3. himself

  4. herself

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The passage advises people using carbon tetrachloride extinguishers to protect themselves. 'Oneself' is used in general instructions, and in this context addressing the reader directly, 'yourself' is the most appropriate replacement among the reflexive pronoun options.