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UGC NET PYQ COMMERCE DEC. 2019

1. A production function expressed as

When A > 0, 0 <α< 1 and β > -1

Where L = labour, K = Capital and A, α and β are three parameters is called
1. Constant elasticity substitution function
2. Variable elasticity substitution function
3. Leontief - type function
4. Cobb - Douglas function

2. Which two of the following statements are correct?

a) In the short - run, ∆ TFC = 0, therefore ∆ TC = ∆ TVC
b) If decrease in AFC < increase in AVC, then AC decreases
c) If decrease in AFC = increase in AVC, AC remains constant
d) If decrease in AFC >- increase in AVC, then AC increases
Choose the correct answer from the options given below
1. a) and c)
2. b) and c)
3. b) and d)
4. a) and d)

3. Michael Porter proposed generic strategies that provide good starting points for
strategic thinking. Identify them from the below mentioned strategies
a) Overall cost leadership
b) Innovation
c) Focus
d) Differentiation Choose the correct answer from the options given below
1. a) and b) only
2. a), c) and d) only
3. a), b) and d) only
4. All of these

4. Which two of the following statements are true?

a) The sum of the deviations from mean (ignoring algebraic signs) is greater than the sum
of the deviations from median (ignoring algebraic signs)
b) Standard deviation is independent of change of origin and change of scale
c) In a symmetrical distribution, mean deviation equals 4/5 of standard deviation
d) In a symmetrical and bellshaped distribution, quartile deviation is 1/3 of standard
deviation
Choose the correct answer from the options given below
1. b) and d)
2. a) and c)
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3. c) and d)
4. a) and b)

5. Which of the following statements are true?

a) Transaction exposure is inherent in all foreign currencies denominated contractual
transactions
b) Translation exposure relates to the change in accounting income and balance sheet
statements caused by change in exchange rate
c) Economic exposure has an impact on the valuation of a firm
d) Operating exposure does not have any impact on the firm's future operating
revenues or future operating costs
Choose the correct option from those below:
1. a) and b) only
2. b) and c) only
3. b) and d) only
4. a), b) and c) only

6. Which two of the following statements are true?

a) Skewness studies the flatness or peakedness of the distribution
b) A positively skewed distribution curve is stretched more to the right than to the left
c) On the basis of empirical relationship between mean, mode and median for moderately
asymmetrical distribution, Karl Pearson's coefficient of skewness can be
measured by 3 (Mean -Median) divided by Standard Deviation
d) If mean <mode, the distribution is positively skewed
Choose the correct option from those below:
1. a) and b)
2. b) and c)
3. c) and d)
4. b) and d)

7. Which two of the following measures of central tendency are NOT capable of algebraic
treatment?
a) Geometric Mean
b) Median
c) Arithmetic Mean
d) Mode
e) Harmonic Mean
Choose the correct answer from the options given below:
1. a) and b)
2. d) and e)
3. b) and d)
4. c) and e)

8. Which of the following is NOT part of the process of management audit?

1. Identification of responsibility center
2. Review of performance of each responsibility center
3. Review of organizational structure

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4. Investigating the depreciation method and its application on fixed assets in the
company

9. Which of the following statements are true?

a) Pay - back period method considers all cash flows of a project
b) Pay - back period method concerns more with the recovery of cost than profitability
c) Net Present Value represents net addition to the wealth of shareholders
d) Accounting Rate of Return method incorporates risk as well as time value of money
Choose the correct option from those below:
1. a) and b)
2. a) and d)
3. b) and c)
4. b) and d)

10. The indemnity holder is NOT entitled to

1. All damages which he may be compelled to pay in any suit in respect of any matter to
which the promise applies
2. All costs that he may be compelled to bear in defending any such suit
3. All sums that he may have paid under the terms of any compromise of such suit
4. Damages for liability incurred which is not absolute

11.Quality circle is a type of

1. Problem- solving team
2. Cross-functional team
3. Self-directed team
4. Project team

12.Given below are two statements, one labelled as Assertion (A) and the other
labelled as Reason (R).
Assertion (A): Auto companies and other consumer goods companies offer cash rebates to
encourage purchase of the manufacturer's products within a specified period
Reason (R): The same product is priced differently at different times In the context of the
two statements above related to pricing strategy, which one of the following options is
correct?
1. Both (A) and (R) are correct
2. Both (A) and (R) are not correct
3. (A) is correct, but (R) is not correct
4. (A) is not correct, but (R) is correct

13.Which one of the following is a void contract?

1. Unilateral contract
2. A contract which ceases to be enforceable by law
3. Implied contract
4. Express contract

14.Which two of the following are correct in terms of rate of tax deduction at source
(TDS)?
a) Income by way of winning from horse race: @ 30%

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b) Insurance Commission: @ 10%
c) Rent of Plant & Machinery: @ 5% d) Rent of furniture: @ 5%
Choose the correct option from the following:
1. a) and b)
2. a) and c)
3. a) and d)
4. b) and c)

15.Which among the following is NOT a correct statement?

1. The Reserve Bank of India worked as Central Bank of Burma till April 1947
2. The Reserve Bank of India worked as Central Bank of Pakistan till June 1948
3. The Reserve Bank of India worked as Central Bank of Bangladesh from January 1972
to December 1975
4. The Reserve Bank of India commenced its operations on April 1, 1935

16.Choose incorrect statement from the following:

1. 28 Days T - bills were introduced in 1998
2. 364 Days T - bills were introduced in 1992
3. 182 Days T - bills were introduced in 1986
4. 273 Days T - bills were introduced in 2006
17.What are the drivers of globalization?
a) Population mobility especially of labour
b) Financial flows
c) Exporting
d) Assembly operations
Choose The correct answer from the following
1. a) and d)
2. b) and d)
3. a) and b)
4. c) and d)

18.Who are the parties to a cheque?

a) Drawer
b) Payee
c) Acceptor
d) Holder
Choose the correct answer from the following options:
1. a) and b) only
2. a), b) and d) only
3. a) and c) only
4. All of these

19.Which of the following is NOT true about web marketers?

1. Web marketers usually try to attract prospects to their site through email,
advertisements in newspapers
2. Use attractions like discounts, gifts and contests
3. Ask customers to give their personal data mandatorily
4. Give a lot of publicity to the discount schemes

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20. Which one of the following is NOT correct according to the Consumer Protection
Act?
1. District Forum shall consist of a lady social worker
2. State Commission shall consist of person who is or has been a Judge of a High Court
3. District Forum shall consist of four members
4. National Consumer Disputes Redressal Commission shall consist of a person who is
or has been a Judge of the Supreme Court

21.Arrange the steps to e-filing of Income Tax Return in correct sequence:

a) Register yourself
b) Verify ITR V
c) Select the requisite form
d) Fill form and upload
Choose the correct option from those below:
1. a) -> c) -> d) -> b)
2. a) -> b) -> c) -> d)
3. a) -> b) -> d) -> c)
4. c) -> a) -> d) -> b)

22.Which one of the following relates to warranty?

1. It is of vital importance for completion of contract
2. If there is breach, the aggrieved party can repudiate the contract
3. It is essential to the main purpose of the contract
4. In case of breach, the aggrieved party can claim only damages

23.What is the typical sequence in which the following selection devices are used by the
company?
a) Reference checks
b) Physical examination
c) Application Blank
d) Hire
e) Conditional Offers
f) More interviews
g) Screening interviews
h) Tests
Choose the correct answer from the options given below
1. c) -> g) -> h) -> f) -> a) -> e) -> b) -> d)
2. d) -> g) -> f) -> h) -> a) -> e) -> b) -> c)
3. c) -> h) -> g) -> a) -> f) -> e) -> b) -> d)
4. d) -> g) -> h) -> f) -> a) -> e) -> b) -> d)

24.The following are the two statements regarding elasticity of demand and its
measurement
Statement I: On every point on the straight line demand curve, the point elasticities are all
equal
Statement II; On every point on the rectangular hyperbola shaped demand curve, the
point elasticities are not equal

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Select the correct option for those below:
1. Both the statements are correct
2. Both the statements are not correct
3. Statement I is correct while Statement II is incorrect
4. Statement I is incorrect while Statement II is correct

25.Arrange the following financial institutions in ascending order of their year of

establishment:
a) National Housing Bank
b) Export - Import Bank of India
c) NABARD
d) Unit Trust of India
Choose the correct option from those below
1. b) —> d) —> c) —> a)
2. d) —> b) —> a) —> c)
3. d) —> b) —> c) —> a)
4. d) —> c) —> b) —> a)

26.Non - Banking Financial Companies can be classified as:

a) Asset Finance Company (AFC)
b) Investment Company (IC)
c) Loan Company (LC)
d) Foreign Trade Company (FTC)
Choose the correct answer from the options given below:
1. a), b) and c) only
2. b), c) and d) only
3. a), c) and d) only
4. a), b) and d) only

27.In the case consumers' equilibrium to be explained through an ordinal approach, when
there are two commodities with their prices given and with limited income of the
consumer, the following information is required:
a) Price line/budget line
b) Indifference map
c) Point of tangency between IC and budget line
d) Equality of the slopes of IC and budget line
Arrange the information required in the correct sequence and choose the right option
from those below
1. b)—> d) —> a) —> c)
2. b) —> a) —> d) —> c)
3. a) —> d) —> b) —> c)
4. a) —> b) —> c) —> d)

28.Which of the following laws affect business organizations?

1. Incorporation and Bankruptcy laws
2. Environmental Protection Laws
3. Occupational Health and Safety Laws
4. Competition Laws

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29.Match the following Banking Sector reform committees with their respective
purposes:
Committee Purpose
a) Y.V. Reddy Committee i) Revised method of lending in place of
cash credit system
b) Rashid Jilani Committee ii) Rationalization of interest rate on small
savings
c) S.M Kelkar Committee iii) Working capital lending norms
d) . T Vaz Committee iv) Regional Rural Banks
Choose the correct option from those given below
1. a) - i), b) - ii), c) - iii); d) - iv)
2. a) - ii); b) - i); c) - iv); d) - iii)
3. a) - iv); b) - iii); c) - ii); d) - i)
4. a) - ii); b) - iii); c) - iv); d) - i)

30.Which two of the following are the function of WTO

a) To facilitate the implementation, administration and operation of trade agreement
b) To carry out periodic reviews of the trade policies of its member countries
c) To assist in the establishment of a multilateral system of payments
d) To promote international monetary cooperation
Choose the correct option from the following:
1. a) and d)
2. b) and c)
3. c) and d)
4. a) and b)

31.On which of the following assumptions, the theory of consumer behaviour on

cardinal utility approach is NOT based?
1. Consumer is rational
2. Limited money income of the consumer
3. Maximization of total satisfaction
4. Diminishing marginal utility of money

32.In the recent years - the major gain in logistical efficiency have come from which
one of the following?
1. Advances in Information Technology
2. Reduction in petroleum prices
3. Fast order processing
4. Increase in production of commercial vehicles

33.What percentage of income from compensation on disaster is exempted from tax

liability?
1. 100%
2. 75%
3. 50%
4. 25%

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34.Given below are two statements. One is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A): In the case of short run cost behaviour, MC curve intersects AC curve at its
minimum
Reason (R): While AC continues to decrease, MC begins to rise. Also, when AC is at its
minimum, it is neither increasing nor decreasing. It is constant when AC is constant, it is
equal to MC at the point of intersection
Choose the correct option from those below
1. Both A) and R) true and R) is the correct explanation of A)
2. Both A) and R) true but R) is NOT the correct explanation of A)
3. A) is true but R) is false
4. A) is false but R) is true

35.Match List I with List II

List I List II
a) Transfer of ownership i) Negotiable Instrument
b) Sale of goodwill after dissolution ii) Contract of sale of goods
c) Buy - back of securities iii) Dissolution of partnership firm
d) Promissory Note iv) Share capital of company
Choose the correct option from those given below
1. a) - ii); b) - iii); c) - iv); d) - i)
2. a) - iii); b) - iv); c) - ii); d) - i)
3. a) - iv); b) - ii); c) - i); d) - iii)
4. a) - i); b) - ii); c) - iii); d) - iv)

36.Which of the following is the odd one out?

1. Specific goods
2. Un-ascertained goods
3. Future goods
4. Ascertained goods

37.Which of the following is an incomplete experimental research design?

1. Before and after with control group design
2. Factorial design
3. One group before-after design
4. Latin Square design

38.Which of the following statements are correct?

a) Dividend payout ratio refers to that portion of total earnings which is distributed among
equity shareholders of the company
b) 'Bird in hand' argument is given by Gordon's model
c) MM model suggest that dividend payment is very relevant for value of the firm
d) Walter's Model suggests that dividend payment does not affect the market price of the
share
1. a) and b)
2. a) and c)
3. b) and c)
4. c) and d)

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39.Which of the following sections of Companies Act 2013 facilitates amalgamation,

absorption and reconstruction of companies?
1.319
2.320
3.410
4.502

40.Given below are two statements. One is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A): Globalization refers to the free cross-border movement of goods, services,
capital, information and people
Reason (R): Countries are consistently evolving innovative marketing barriers that are
WTO compatible
In the light of the above statements, choose the correct answer from the options given
below
1. Both A) and R) true and R) is the correct explanation of A)
2. Both A) and R) true but R) is NOT the correct explanation of A)
3. A) is true but R) is false
4. A) is false but R) is true

41.Given below are two statements. One is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A): If the firm is prepared to incur increased cost on transportation, it may be
in a position to reduce its inventory cost
Reason (R): As in such a case, the firm can use the fastest mode of transport and rush the
goods/stocks to the desired warehouse, unmindful of the cost of transportation
In the context of the above two statements related to logistics management, which of
the following options is correct
1. Both A) and R) true and R) is the correct explanation of A)
2. Both A) and R) true but R) is NOT the correct explanation of A)
3. A) is true but R) is false
4. A) is false but R) is true

42.Which of the following is NOT a factor contributing to MBO program failure?

1. Altering goals to meet changes in cicumstances
2. Easy goals
3. Lack of management support
4. Setting of unrealistically difficult goals

43. TheTheories that explain the formation of 'Informal Groups' are to include which of
the following?
a) Propinquity Theory
b) Similarity (or) Balance Theory
c) Displacement Theory
d) Need for achievement Theory Choose the correct option from those given below:
1. a) and d) only
2. a) and b) only

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3. a), b) and c) only
4. a), b), c) and d)

44. Match the 'Category of Compensation' with 'Compensation Plan'

Category of Compensation Compensation Plan
a) Pay for time not worked i) Savings Plan
b) Services and Perquisites ii) Stock Option
c) Protection Programme iii) Pension
d) ncentive Pay iv) Sick Leave
e) Deferred Pay v) Low Cost Meals
Choose the correct option from those given below
1. a) - iii); b) - iv); c) - ii); d) - i); e) - v)
2. a) - iv); b) - v); c) - iii), d) - ii); e) - i)
3. a) - iv); b) - v); c) - i); d) - ii); e) - iii)
4. a) - iii); b) - v); c) - i); d) - iv); e) - ii)

45.Given below are two statements. One is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A): Indian Accounting Standards contain some 'carve outs' and for convergence
with IFRS with some changes applied in India
Reason (R): Financial statements prepared in India with Indian Accounting Standards will
not be IFRS compliant
In the light of the above two statements, choose the correct option
1. Both A) and R) are true and R) is the correct explanation of A)
2. Both A) and R) are true but R) is NOT the correct explanation of A)
3. A) is true but R) is false
4. A) is false but R) is true

46.Which two of the following are correct about the due date of issue of the TDS
certificate?
a) Form No 16 - Annual
b) Form No 16 A - Quarterly
c) Form No 16 B - Half Yearly
d) Form No 16 C - Monthly
Choose the correct option from those below:
1. a) and d)
2. a) and c)
3. a) and b)
4. c) and d)

47.Match the following theories of profit with their propounders

Category of Compensation Compensation Plan
a) Profit as Rent of Ability i) F. B. Hawley
b) Dynamic Theory of Profit ii) Joseph A Schumpeter
c) Risk Theory of Profit iii) J. B. Clark
d) Innovation Theory of Profit iv) F. A. Walker
Choose the correct option from those given below:
1. a) - iv); b) - ii); c) - iii); d) - i)

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2. a) - i); b) - ii); c) - iii); d) - iv)
3. a) - iv); b) - iii); c) - i); d) - ii)
4. a) - iii); b) - i); c) - ii); d) - iv)

48.'Maximization of firm's growth rate subject to managerial and financial constraints'

as one of the important alternative objectives of especially large business corporation
was pleaded by:
1. Milton Friedman
2. Robin Marris
3. Cyert and March
4. N.A. Simon

49.Which three of the following types of cyber attacks may occur in the process of
mobile banking?
a) Backdoor attack
b) Front door attack
c) Denial of service attack
d) Direct access attack
Choose the correct option from those given below:
1. a), b) and c)
2. b), c) and d)
3. a), b) and d)
4. a), c) and d)

50.Which of the following statements is NOT correct regarding the duties of an

auditor?
1. Physical verification of fixed assets is primarily the responsibility of the auditor
2. Ownership of fixed assets should be verified by examining the title deed by the auditor
3. Auditor should ascertain that the assets are in the possession of the client
4. The auditor should satisfy himself that the assets have been valued in the financial
statements according to the accounting principles

51.Which of the following is NOT a presumption about a negotiable instrument?

1. Date
2. Consideration
3. Stamp
4. Absolute and good title to the transferee

52.Which of the following are the methods of determining cost behaviour?

a) High and low point method
b) Least square regression method
c) Accounting or analytical approach
d) Non - parametric method Choose the correct answer from the options given below
1. a), b) and d)
2. a), c) and d)
3. b), c) and d)
4. a), b) and c)

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53.The sum total of the values of two variables 'X' and 'V' is equal for all the
observations. The value of the coefficient of correlation between 'X' and nir is:
1. + 1 (perfectly positive)
2. - 1 (perfectly negative)
3. Zero (No correlation)
4. > 0 < 1 (Imperfect correlation)

54. Functions of a first-level or front line supervisors are to include which of the
following?
a) To determine individual job assignment
b) To attend to grievances and resolve conflicts
c) To provide technical knowledge and guidance to workers
d) To supply strategic information relating to production to management
Choose the correct answer from the options given below
1. a) and b) only
2. a) and c) only
3. a), b) and c) only
4. All of them

55.Which one is odd?

1. Economic Policies
2. Economic Planning
3. Socio - cultural factors
4. Macro - economic scenario

56.Which of the following are part of Corporate Social Responsibility (CSR) to consumers?
a) Reasonable chances and proper system for accomplishment and promotion
b) To supply goods at reasonable prices even when there is seller's market
c) Improving the efficiency of the business operation
d) To provide an opportunity for being heard and redress genuine grievances
Choose the correct answer from the options given below
1. a) and b)
2. b) and d)
3. b) and c)
4. a) and c)

57.Which of the following are true about conditions according to the Sale of Goods
Act?
a) Title
b) Description
c) Quite possession
d) Encumbrances
Choose the correct answer from the following options
1. a) and d) only
2. b) and c) only
3. a), c) and d) only
4. a) and b) only

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58.Which of the following statements is false?
1. When value of correlation coefficient is one, the two regression lines coincide
2. The regression coefficients are independent of the change of origin and of scale
3. The sign of the regression coefficients are always the same
4. The square of the coefficient of correlation is called coefficient of determination

59. If the risk - free return (Rf) is 6%, Beta value (𝛽𝛽) is 1.5 and market rate of return
(Km) is 10%, the expected rate of return would be
1. 15%
2. 12%
3. 17.5%
4. 16%

60.Which among the following is a correct statement about residential status of a

company?
1. A company can be classified as "not ordinarily resident"
2. A company can never be classified as "not ordinarily resident"
3. A company can be classified as "not ordinarily resident" with the permission from
Ministry of Finance
4. A company can be classified as "not ordinarily resident" with the permission from
Ministry of Commerce

61.Under which of the following categories, a partner of partnership firm will be assessed?
1. An individual
2. HUF
3. Firm
4. Body of an Individual

62.14 Days intermediate T - bills were brought into effect from 1996 - 97 after the
abolition of which of the following?
1. 91 Days T – bills
2. 182 Days T - bills
3. 273 Days T - bills
4. 364 Days T – bills
63.Companies that are becoming skilled in Customer Relationship Management (CRM)
focus on:
1. Understanding the perceived performance and buyer's expectations
2. Giving benefits to the customers by reducing cost
3. Developing programs to attract and retain the right customers and meeting the
individual needs of valued customers
4. Giving the quality in features and characteristics of a product or service that bear on
its ability to satisfy stated or implied needs

64.Given below are two statements. One is labelled as Assertion (A) and the other is
labelled as Reason (R).
Assertion (A): Tax should not be charged on dividend income from the shareholders

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Reason (R): Some economists are of the opinion that when tax has already been paid on
the profit of the company and balance is distributed as dividend to the owners, tax need
not be levied on them
In the light of the above two statements, choose the correct answer from the options
given below
1. Both A) and R) true and R) is the correct explanation of A)
2. Both A) and R) true but R) is NOT the correct explanation of A)
3. A) is true but R) is false
4. A) is false but R) is true

65.National Housing Bank was established in 1987 as wholly owned subsidiary of which
of the following?
1. State Bank of India
2. Life Insurance Corporation of India
3. Reserve Bank of India
4. Industrial Finance Corporation of India

66.According to Sale of Goods Act, which two of the following are defined as 'goods'?
a) Moveable property
b) Growing crops
c) Actionable claims
d) Book debt
Choose the correct answer from the following options:
1. a) and d)
2. b) and c)
3. a) and b)
4. d) and b)

67.Match the following countries with the types of Double Taxation Avoidance Agreement
signed by India with them:
Country Type of Agreement
a) Austria i) Limited Agreement
b) Bahamas ii) Comprehensive Agreements
c) Lebanon iii) Comprehensive Agreements/ Limited Multilateral Agreement
d) Sri Lanka iv) Tax Information Exchange Agreement
Choose the correct option from those given below
1. a) - iv), b) - ii); c) - i); d) - iii)
2. a) - ii); b) - iv); c) - i); d) - iii)
3. a) - ii); b) - iv); c) - iii); d) - i)
4. a) - i); b) - ii); c) - iii); d) - iv)

68.Match the modes of communication in marketing and their communication platforms

Mode of Communication) Communication Platform)
a) Advertising i) Blogs
b) Sales Promotion ii) Brochures & Booklets
c) Word of mouth marketing iii) Sales meetings
d) Personal selling iv) Contests
Choose the correct option

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1. a) - ii); b) - iii); c) - iv); d) - i)
2. a) - ii); b) - iv); c) - i); d) - iii)
3. a) - iv); b) - iii); c) - ii); d) - i)
4. a) - iv); b) - iii); c) - i); d) - ii)

69.In e-commerce, one of the key design elements of an effective website – community
refers to
1. Its layout and design
2. The way site enables user to user communication
3. Site's ability to tailor itself to different users or to allow users to personalize the site
4. Degree that the site is linked to the other sites

70.Which of the following types of authorities are found in most organizations?

a) Division Authority
b) Line Authority
c) Staff Authority
d) Functional Authority
Choose the correct option from those given below:
1. a) and b) only
2. b) and c) only
3. a), b) and c) only
4. b), c) and d) only

71.ADEN Rules, 1953 is related to which of the following?

1. Tax exemption
2. Residential status
3. Double taxation relief
4. Assessment of corporate entity

72.For calculating posterior probabilities (conditional probabilities under statistical

dependence), the following information is available
a) conditional probabilities
b) original probability estimates (prior - probabilities) of mutually exclusive and
collectively exhaustive events
c) Arbitrary event with probability # 0 and for which conditional probabilities are also
known
d) Joint probabilities of prior probability and conditional probability

Given the information that the arbitrary event has occurred, arrange the above
information in a sequence of their requirement as per Baye's Theorem
Choose the correct option:
1. a) —> b) —> d) —> c)
2. c) —> b) —> a) —> d)
3. b) —> c) —> d) —> a)
4. b) —> a) —> d) —> c)

73.The informal group's communication system is called

1. Group Dynamics

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2. Grapevine
3. Exchange
4. Interaction

74.According to FEMA, foreign exchange does NOT include

1. Deposits payable in any foreign currency
2. Bills of exchange drawn in Indian currency but payable in any foreign currency
3. Travellers cheques drawn by institutions outside India but payable in Indian currency
4. Drafts drawn by banks outside India and payable in foreign currency

75.Match List I with List II

List I) List II)
a) Qualified Report i) Auditor Duty
b) Examine Valuation and Disclosure ii) Auditor Liabilities
c) Access to records of Company and its iii) Auditor Report
subsidiaries
d) Mis-statement in prospectus in company iv) Auditor Right
issue of capital
Choose the correct option from those given below
1. a) - ii); b) - i); c) - iv); d) - iii)
2. a) - iii); b) - i); c) - iv); d) - ii)
3. a) - iii); b) - i); c) - ii); d) - iv)
4. a) - iv); b) - ii); c) - iii); d) - i)

76.Which two of the following are correct about TDS Certificates?

a) TDS on non-salary payment - Form 16
b) TDS on salary payment - Form 16 A
c) TDS on sale of property - Form 16 B
d) TDS on rent - Form 16 C
Choose the correct option from those given below
1. a) and b)
2. c) and d)
3. a) and d)
4. b) and c)

77.Match the tests with suitable situations of their application for hypothesis-testing:
Test Situation Situation
a) z-test i) Comparing the differences in the mean values of more
than two sample groups (Parametric data)
b) ANOVA ii) Testing the significance of the difference between
averages of two arge sized sample groups (Parametric data)
c) Chi-Square Test iii) Comparing the differences in the mean values of more
than two sample groups (Non - parametric data)
d) Kruskal - Wallis Test iv) Testing the significance of the association between two
attributes
Choose the correct option from those given below
1. a) - i); b) - ii); c) - iii); d) - iv)
2. a) - ii); b) - i); c) - iv); d) - iii)
3. a) - ii); b) - iii); c) - i); d) - iv)

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4. a) - i); b) - iv); c) - ii); d) - iii)

78.Match List I with List II

List I) List II)
a) Size of the market i) Globalization of business
b) Demographic environment ii) Foreign trade policy
c) Export - oriented units iii) Macro - environment
d) Multinational corporations iv) Non- economic environment
Choose the correct option from those given below
1. a) - iv); b) - ii); c) - iii); d) - i)
2. a) - ii); b) - iii); c) - i); d) - iv)
3. a) - iii); b) - ii); c) - i); d) - iv)
4. a) - iii); b) - iv); c) - ii); d) - i)

79.Which of the following is NOT a method for calculating or ascertaining the amount of
purchase consideration?
1. Net Payment Method
2. Net Assets Method
3. Gross Receipts Method
4. Share Exchange Method

80.Which of the following terms means the tendency of a supervisor to rate a subordinate
lower than his performance?
1. Horns Effect.
2. Halo Effect
3. Central Tendency
4. Pointing Tendency

81.In which of the following years, the Bretton Woods Agreement was signed by the
delegates from 44 nations which led to the establishment of the IMF?
1.1940
2.1952
3.1944
4.1957

82.Which of the following is the non - random method of selecting samples from a given
population?
1. Stratified Sampling
2. Systematic Sampling
3. Quota Sampling
4. Multi - stage Sampling

83.Which two of the following statements are true?

a) A simple monopoly firm always earns super normal profit
b) Sweezy's kinked demand curve model is the best known model explaining relatively
more satisfactory behaviour of oligopoly firm for price rigidity
c) A perfectly competitive firm is price - taker
d) Firms under monopolistic competition earn only normal profits

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Choose the correct option from those below
1. a) and d)
2. b) and d)
3. b) and c)
4. a) and c)

84.A company raises T 1,00,000 by issue of 1000, 10% debentures of T 100 each at a
discount of 2% redeemable after 10 years. If the corporate tax rate is 40%, what would be
the cost of capital?
1. 6.82%
2. 5.98%
3.6.18%
4. 5.5%

85. Following are the events which generally happen in the life of a public limited
company
a) Public issue of shares (IPO)
b) Firm Incorporation
c) Preliminary expenditures
d) Issue of equity shares to promoters of the company
Choose the correct sequence (chronological order) of the events from the options
given below:
1. a) —> b) —> c) —> d)
2. b) —> c) —> d) —> a)
3. c) —> b) —> a) —> d)
4. c) —>b) —>d) —> a)

86.Match the following methods of capital budgeting with their respective formula:
Method Formula
a) ARR method i) Present Value of Cash Inflows -Present Value of Cash
Outflows
b) Pay back Period Method ii) Present Value of Cash Inflows ÷ Present Value of
Cash Outflows
c) NPV Method iii) Average Income ÷ Average Investment
d) Probability Index iv) nvestment ÷ Annual Cash Inflows
Choose the correct option from those given below:
1. a) - iii); b) - i); c) - iv); d) - ii)
2. a) - iii); b) - iv); c) - i); d) - ii)
3. a) - i); b) - ii); c) - iii); d) - iv)
4. a) - i); b) - iv); c) - ii); d) - iii)

87.Market logistic planning has the following four steps. Arrange the steps in correct
sequence
a) Develop operational excellence in sales forecasting, warehouse management,
transportation and material management
b) Select the best channel design and network strategy for reaching the customers
c) Implement the solution with the best information systems, equipment, policies and
procedures

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d) Decide on company's value proposition to its customers
Select the correct option from those below
1. a) —> b) —> c) —> d)
2. d)—> b) —> a) —> c)
3. d) —> b) —> c)—> a)
4. d)—> c)—> b) —> a)

88.Which one of the following is the correct sequence of various stages of operating
cycle of a manufacturing company?
1. Raw material conversion period, work-in-progress conversion period, Finished goods
conversion period, Receivables conversion period
2. Raw material conversion period, work-in-progress conversion period, Creditors payment
period, Receivables conversion period
3. Creditor payment period, Raw material conversion period, Receivables conversion
period, work-in- progress conversion period
4. Raw material conversion period, Finished goods conversion period, work-in- progress
conversion period, Receivables conversion period

89.Which among the following are NOT qualified to be appointed as auditor of a

company?
a) An individual who is a Chartered Accountant and holds a Certificate of Practice as per
CA Act, 1949
b) A limited liability partnership firm, which has all partners as Chartered Accountants
c) Officer or employee of a company who is qualified Chartered Accountant degree holder
too
d) Any Chartered Accountant whose appointment will result in the person being the
auditor of more than 10 companies
Choose the most appropriate option:
1. a) and b)
2. b), c) and d)
3. c) and d)
4. a), b) and d)

90.Under which of the following approaches, the cost of equity is assumed to increase
linearly with leverage, i.e, the average cost of capital remains constant with increased use
of leverage?
1. Net Operating Income Approach
2. Net Income Approach
3. Traditional Approach
4. Walter Approach

Comprehension:
Read the passage carefully and answer the questions that follow
Life Insurance in its modern form came to India from England in the year 1818. The
Oriental Life Insurance Company started by Europeans in Calcutta was the first life
insurance company on Indian soil. All the insurance companies established during that
period were brought up with the purpose of looking after the needs of the European
community and Indian natives were not being insured by these companies. However, later

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with the efforts of eminent people like Babu muttylal Seal, foreign insurance companies
started insuring Indian lives too. But Indian lives were being treated as sub standard lives
and heavy extra premium were being charged upon them. The Bombay Mutual Life
Assurance Society heralded the birth of the first Indian life insurance company in the year
1870 and covered Indian lives at normal rates. Starting as an Indian enterprise with
highly patriotic motives, insurance companies came into existence to carry the message of
insurance and social security through insurance to various sectors of society. In 1907, the
Hindustan Cooperative Insurance Company took birth in one of the rooms of 'The
Jorsanko', house of the great poet Rabindranath Tagore in Calcutta. The Indian
Mercantile, General Assurance and Swadeshi life (later Bombay Life) were some of the
companies established during the same period. Prior to 1912, India had no legislation to
regulate the insurance business. In the year 1912, Life Insurance Companies Act and
Provident Fund Act were passed. The Life Insurance Companies Act 1912 made it
necessary that the premium rate tables and periodical valuations of companies should be
certified by an actuary. But the Act discriminated between foreign and Indian Companies
on many accounts, putting Indian Companies at a disadvantage

91.Identify the correct statement from the following

1. Initially, insurance companies used to discriminate Indian and European clients
2. There was no discrimination in Indian and European clients by the insurance
companies initially
3. Indian clients were charged lower premium by the insurance companies in the
beginning
4. Indian insurance companies charged higher premium to Europeans at a later stage

92.Which one among the following grew along with insurance business in India?
1. Pension Fund
2. Provident Fund
3. Gratuity
4. Arbitrage

93.The paragraph is about which of the following?

1. Genesis of insurance in India
2. Struggle of insurance business
3. Conflict of insurance business
4. Complications of insurance business

94.Which among the following was later renamed as Bombay Life?

1. The Indian Mercantile General Assurance
2. The Oriental Life Insurance Company
3. National Insurance
4. Swadeshi Life

95.The insurance business in India was started first by which one of the Following?
1. Americans
2. Indian merchants
3. Europeans
4. Afro-Indians

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Comprehension:
Read the given passage carefully and answer the questions that follow
Companies often define themselves in terms of products: They are in the "auto business"
or the "clothing business". 'Market definitions of a business, however, describe the
business as a customer - satisfying process. Products are transient, basic needs and
customer groups endure forever. Transportation is a need: the horse and carriage,
automobile, railroad, airline, ship and truck are products that meet the need. Viewing
business in terms of customers can suggest additional growth opportunities.
There exists a difference between a target market definition and a strategic market
definition. To define its mission, a company should address Peter Drucker's classic
question: What is our business?

96.Which of the following is the correct combination Product Definition and Market
Definition of Xerox Company?
1.Product Definition- We sell photocopies Market Definition -We help improve office
efficiency
2. Product Definition- We make photo machines Market Definition -We improve copy
speeds.
3. Product Definition- We sell copying equipment Market Definition -We make office more
efficient
4. Product Definition - We make copying equipment Market Definition - We help improve
office productivity

97.Pepsi could define its 'target market' as:

1. Everyone who drinks carbonated soft drinks and are competitors
2. Anyone who drinks liquid
3. Everyone who drinks non-milk drinks
4. Anyone who drinks competitor's drinks.

98. Which of the following is NOT a major characteristic of a good mission statement?
1. They have very limited words
2. They focus on a limited number of goals
3. They stress the company's major competitive spheres in which company will operate
4. They have a long term view

99.Which of the following is the correct product definition of 'Blue Star'?

1. We provide climate control in homes and offices
2. We supply air conditioners
3. We make air cooling systems
4. We make air conditioners

100.Which of the following is the correct market definition of 'BPCL'?

1. We distribute oil products
2. We are the largest oil supply in India
3. We supply energy
4. Bharat's own oil distribution company

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ANSWERS
1 1 21 1 41 1 61 3 81 3
2 1 22 4 42 1 62 1 82 3
3 2 23 1 43 2 63 3 83 3
4 2 24 2 44 2 64 1 84 3
5 4 25 3 45 2 65 3 85 4
6 2 26 1 46 3 66 3 86 2
7 3 27 2 47 3 67 2 87 2
8 4 28 1 48 2 68 2 88 1
9 3 29 2 49 4 69 2 89 2
10 4 30 4 50 1 70 4 90 1
11 1 31 4 51 4 71 3 91 1
12 3 32 1 52 4 72 4 92 2
13 2 33 1 53 2 73 2 93 4
14 3 34 1 54 4 74 4 94 4
15 3 35 1 55 3 75 2 95 3
16 4 36 3 56 2 76 2 96 4
17 3 37 3 57 4 77 2 97 1
18 2 38 1 58 2 78 4 98 1
19 3 39 1 59 2 79 3 99 4
20 3 40 2 60 2 80 1 100 3

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UGC NET PYQ COMMERCE 2019 JUNE

1. Miller-O model is used in the management of
1. inventory
2. leverage
3. receivables
4. Cash Options

2. Deduction u/s 37(1) is allowed under tax laws for those expenditures which are
I. revenue
2. capital
3. both revenue and capital
4. deferred revenue expenses

3. Which is the most appropriate mode of entry in international business to an

enterprise with little experience of international markets?
I Acquisition
2. Strategic Alliance
3. Joint Venture
4. Exporting

4. Which of the following is an instance of non-conventional dumping?

1. Sporadic dumping
2. Predatory dumping
3. Reverse dumping
4. Persistent dumping

5. In which of the following commodities. when a consumer spends so much that negative
income effect overwhelms the positive substitution effect so as the underlying demand
curve is positively sloped?
I. Inferior goods
2. Superior goods
3. Giffen goods
4. Normal goods

6. Which among the following is NOT a correct statement?

I. fledge finds are not mutual finds.
2. Hedge funds can be sold to public.
3. Investors in mutual funds must pay various fees and expenses.
4. Mutual funds provide economies of scale to investment decisions.

7. Consumer behaviour does NOT consist which of the following activities?

1. Obtaining
2. Consuming
3. Disposition
4. Producing

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8. Following are the events of an organizational culture :

(a) Customer orientation and employee policies
(b) Quality orientation, ditecting and motivating styles
(c) Decision making, products and services and responsibilities to society
(d) Reaction to competitors and gratitude towards nation
(e)Role ambiguities, trade union and policies
Select the correct sequence for the above events :
1.(a), (b), (d) and (e)
2. (a), (e), (d) and (e)
3. (b). (a). (d) and (e)
4. (a), (b), (o) and (d)

9. Following are the information for a house property :

Municipal value 4,50,000 Fair rental value 5,00,000 Standard rent 4,80,000 Actual rent 2
4,20,000
What is the gross annual value of the house properly?
1. 4,80,000
2. 5,00,000
3. 4,20,000
4. 4,50,000

10. The channel alternative is NOT to be assessed on the basis of

1. economic criteria
2. control criteria
3. adaptive criteria
4. accumulation criteria

11. The social environment of the job affects people and is also affected by them and no
by management alone, is the main proposition of
1. contingency theory of organization
2. system theory of organization
3. classical theay of organization
4. Neoclassical theory of orgarization

12. Excess capacity is NOT noticed in which of the following market conditions?
1. Monopoly
2. Monopolistic competition
3. Oligopoly
4. Perfect competition

13. Currency swap is a method of

1. hedging against foreign exchange risk
2. speculating in foreign exchange
3. leverage instrument used by cooperative banks
4. mode of payment in international trade

14. Following are the steps in the activity-based cost allocation :

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(a) Identification of the main activities
(b) Collection of cost pool
(c) Determination of the activity cost drivers
(d) Calculation of activity driver rate
(e) Charging the cost of activities to products
Select the correct sequence of the above steps :
1. (a), (b), (c), (e), (d)
2. (a), (b), (e), (d), (c)
3. (a), (b), (c), (d), (e)
4. (a), (d), (c), (b), (e)

15. Assertion (A) : According to Net Income (NI) approach, capital structure decision is
relevant in the valuation of firm
Reason (R) A firm can change its total value and its overall cost of capital by change In
the degree of leverage in its capital structure.
In the context of the above two statements, which one of the following options is
coned?
1.Both (A) and (R) are correct and (R) is the tight explanation of (A)
2. Both (A) and (R) are correct and (R) is not the right explanation of (A)
3. Both (A) and (R) are incorrect
4. (A) is correct and (R) is not correct

16. The retail supply chain does NOT include

1. manufactures
2. retailers
3. wholesalers
4. regulators

17. Capital structure and leverage decisions come in the ambit of

1. investment decisions
2. distribution decisions
3. financing decisions
4. dividend decisions

18. New reform in Indian banking system include

(a) Digitisation of bank operations
(b) Banking consolidation
(c) Borrowing from Government
(d) Agency work
Choose the correct option from the following:
1. (a) and (b)
2. (c) and (d)
3. (b), (d) and (c)
4. (a) (c) and (d)

19. Doctrine of Caveat Emptor' means

1. buyer should make payment well in time
2. buyer should be beware of all aspects of buying

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3. buyer will be responsible for the whole payment
4. buyer will not be responsible at any cost

20. Under which of the following situations, economies of scale exists to the potential
and persisb?
I. When fimt is too small and too specialized
2. When finis' decision to hire inputs do not result in an increase in the input costs
3. When fine is too large and overdiversified
4. When longrun cost of producing a wit falls as the output increases

21. Building long-term mutually satisfying relations with key customers, suppliers,
distributors in order to earn and retain their, longterm peference and business is known
as
I. relationship marketing
2. social marketing
3. niche marketing
4.service marketing

22. The essence of the law of diminishing returns is

1. inelastic production
2. negative marginal production
3. declining total production
4. declining average production

23. Under which of the following situations, the decision outcome on evaluation of
investment opportunities vary, under NPV and IRR methods per se?
(a) Time disparity
(b) Cost disparity
(c) Life dispanty
(d) Volume disparity
Choose the correct combination of situations :
1. (a) and (d) only
2. (b) and (d) only
3. (a), (b) and (c) only
4. (b). (e) end (d) only

24. Assertion (A): U-shaped longrun average cost curve is based on the assumption that
economies of scale prevails at small levels of production and diseconomies of scale
prevails at larger level of production
Reason (R):Decreasing returns to scale arises primarily because as the scale of operation
increases, it becomes even more difficult to manage the firm effectively.
In the context of the above two statements, which one of the following codes is correct?
I. Roth ( A) and (R) ore correct and (R) is the right explanation of (A)
2. Roth (A) and (R) are correct and (R) is not the right explaraition of(A)
3. (A) is correct and (R) is not incorrect
4. Roth (A) and (R) are incorrect

25. Which of the following are included in digital payment system?

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(a) RTGS
(b) Demand draft
(c) NEFT
(d) Cheque
Choose the correct option from the following:
1. (a), (c) and (d)
2. (b) and (d) only
3. (a) and (c) only
4. (b), (c) and (d)

26. Which one of the following analysts is suitable for risk-return analysis in financial
decisions?
I. CAPM analysis
2. SWOT analysis
3. Capital gaging
4. EVA analysis

27. Which one of the following is used for international money transfer?
I. RTGS
2. N EFT
3. SWIFT
4. DD

28. Assertion (A):Resrve Bank of India is an important regulatory and administrative

authority to execute FEMA provisions
Reason(R) :Being monetary authority and custodian of foreign exchange, Reserve bank of
India enjoys requisite expertise of FEMA administration.
In the context of the above two statements, which one of the following option is correct?
I Both (A) and (R) are correct and (R) is the right explanation of (A)
2. Both (A) and (R) are correct but (R) is not the right explanation of (A)
3. Both (A) and (R) are incorrect
4. (A) is correct and (R) is not correct

29. Match List-I with List-II :

List I List-II
(a) Net income approach (i) Inventory management
(b) Gordan model (ii) Capital budgeting
(c) Internal rate of return (iii) Capital structure theory
(d) Reorder level (iv) Dividend theory
Choose the correct option from those given below : .
1.(a)-(ii); (b)-(Iii); (c)-(iv); (d)-(i)
2. (a)-(iii); (b)-(iv); (c)-(ii); (d)-(i)
3. (a)-(iii); (b)-(iv); (c)-(i); (d)-(ii)
4. (a)-(ii); (b)-(i); (c)-(iv); (d)-(iii)

30. Which of the following types of goodwill is considered to be the best?

1. Dog goodwill
2. Cat goodwill

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3. Rat goodwill
4. Cow goodwill

31. Which of the following characteristics are related to relationship marketing?

(a) Product feature orientation
(b) Product benefit orientation
(c) Frequent consumer contact
(d) High concern for quality
Choose the correct option from the following :
1. (b), (a) and (d)
2. (a). (b) and (c)
3. (a), (c) and (d)
4. (a), (b) and (d)

32. Assertion (A) Brainstorming technique demands generaticsi of a number of

alternatives to a problem
Reason (R): Participants generate as many alternatives as possible without evaluating
them in brainstorming Sessions
In the context of the above two statements which one of the following codes is correct?
I Statement (A) is correct and (R) is the correct explanation of (A)
2. Both (A) and (R) are correct but (R) is not the right explanation of (A)
3 Statement (A) is correct but (R) is incorrect
4 Both (A) and (R) are correct

33. Match List-I with List-II:

List-I (Objectives of business firms) List-II: (Hypothesis)
(a) Maximization of firms' growth rate (i) Baumol's hypothesis
(b) Managerial utility function (ii) Marris hypothesis
(c) Satisfying behaviour (iii) Williamson hypothesis
(d) Sales Maximization (iv) CyertMarch hypothesis
Choose the correct option from those given below :
1. (a)-(iv); (b)-(iii); (c)-(i); (d) (ii)
2. (a)-(iv); (b)-(iii); (c)-(i);(d)-(ii)
3. (a)-(iii); (b)-(i); (c)-(iv); (d)-(ii)
4. (a)-(i); (b)-(ii); (c)-(iii);(d)-(iv)

34. Statement (I) : t-test and F-test are based cc the identical assumptions
Statement (II) :t-test is used for comparison between two groups whereas F-test is used for
compahson between more than two groups.
In the context of the above two statements. which one of the following codes is correct?
I. Both the Statements (I) and (II) are correct
2 Both the Statements (I) and (II) arc incorrect
3 Statement (I) is correct but (II) is incorrect
4. Statement (II) is correct but (0 is incorrect

35. Which of the following are NOT sources of secondary data?

(a) Interview
(b) Questionnaire

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(c) Observation
(d) Unpublished thesis
(e) Annual report
Choose the correct option from the following:
1. (a), (d) and (e)
2. (b), (c) and (d)
3. (c), (d) and (e)
4. (a), (b) and (c)

36. With of the following is NOT a main stage in a customer relationship life cycle'
I. Customer acquisition
2. Customer development
3. Customer satisfaction
4. Customer annoyance

37. List out from the given statements important ethical princilpes that a business should
follow :
(a) To take the necessary action for the development of the concerned industry or business
(b) Pay taxes and discharge other obligations promptly.
(c) To ensure the best utilisation of the human resources.
(d) Refrain from secret kickbacks or pay-offs to customers, suppliers, administrators, etc.
(e) Ensure payment of fan wages and fair treatment of employees.
Choose the correct answer from the options given below :
I. (c), (d) and (e)
2. (b), (d) and (e)
3. (a), (b) and (c)
4. (a), (c) and (e)

38. SUGAM is also know as

1. ITR-1
2. 1TR-2
3. ITR-3
4. ITR-4

39. A firm commies 90000 units of a certain item of raw material in its production process
annually. It cosh: t 3 per wit, the cast per purchase order is t 300 and the inventory
carrying cost is 20% per year. What is the E0Q?
1. 9470 units
2. 9487 units
3. 9480 units
4. 9840 units

40. Which of the following committees is related to the investor protection?

1. Bhagwati Committee
2. N. K. Mitra Committee
3. I. R. Verna Committee
4. L. C. Gupta Committee

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41. Match List-I with List-II :
List-I List-II
(a) Ind AS-I6 (i) Income tax
(b) Ind AS-38 (ii) Leasing
(c) Ind AS-I 7 (iii) Intangible assets
(d) Ind AS-I 2 (iv) Property, plant and equipments
Choose the correct option from those given below :
1. (a)-(iv); (b)-(iii); (c)-(i); (d) (ii)
2. (a)-(iv); (b)-(iii); (c)-(ii;(d)-(i)
3. (a)-(iii); (b)-(ii); (c)-(iv); (d)-(i)
4. (a)-(iv); (b)-(ii); (c)-(i);(d)-(iii)

42. Arrange the following in order of their manifestations :

(a) Offer
(b) Acceptance
(c) Breach of contract
(d) Contract
Choose the correct option from the following :
1. (a), (b), (c) and (d)
2. (a), (b), (d) and (c)
3. (b), (c), (a) and (d)
4. (a), (d), (c) and (b)

43.Which among the following institutions is NOT a part of World Bank group?
1. International Development Association (IDA)
2. International Monetary Found (IMF)
3. International Finance Corporation (IFC)
4. Multilateral Investment Guarantee Agency (MIGA)

44. Redressal niacin:ism for consumer disputes Willa Section 9 of the Consumer
Protection Act envisages a
I. single4ier system
2. two-tier system
3. three-tier system
4. open system independent of Inerarchy

45.Which of the fcilowing reflects the sun of perceived tangible and intangible benefits and
costs to a custaner?
I. Customer satisfaction
2. Customer delight
3. Customer value
4. Customer expectation

46. Chalapathi Rao Committee was constituted for restructuring of

1. State Financial Corporation in India
2. Commercial Banks in India
3. Co-operative Banks in India
4. Regional Rural Banks in India

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47. A company issues 10% irredeemable preference shares. The face value per share is
100, but the isms price is t 95. What is the cost of preference share
1. 10.63%
2. 10.73%
3. 10.83%
4. 10.53%

48. Match List-I with List-II :

List-I (Theories of Profit) List-II (Economists)
(a) Risk theory of profit (i) Schumpeter
(b) Innovation theory of profit (ii) Walker
(c) Rent theory of profit (iii) Hawley
(d) Dynamic theory of profit (iv) Clark
Choose the correct option from those given below :
1. (a)-(iii); (b)-(iv); (c)-(ii); (d)-(i)
2. (a)-(iv); (b)-(ii); (c)-(iii), (d)-(i)
3. (a)-(iii); (b)-(i); (c)-(ii), (d)-(iv)
4. (a)-(iv); (b)-(i); (c)-(ii), (d)-(iii)

49. One belt, one road initiative (BRI) is NOT intended to

1. trade protectionism
2. strengthening logistic and supply chain
3. improve cost competitiveness
4. rebalance trade dominance

50.Which among the following is NOT included in negotiable instrument?

1. Cheque
2. Demand Draft
3. Promisory Note
4. Mutual Fund

51.Which of the following does not come under the definition of information as per the
Right to Information Act (RTI Act) 2005?
1. Log books
2. Data material held in electronic from
3. File noting
4. Circular
52. Which of the following are the rights of a statutory auditor?
(a) to receive renumeration
(b) to attend Board of Doctors meeting
(c) to attend General meeting
(d) to visit the branch office
Choose the correct answer from the following:
1. (a) and (b)
2. (a) (b) and (d)
3. (a) (c) and (d)
4. (a) (b) (c) and (d)

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53. Quantitative import restrictions that limit the quantity of a product being imported is
called
1. Embargo
2. Quota
3. Trade restrain
4. Import tariff

54. The current market price of a company's share is rupees 9 and the expected dividend
per next year is rupees if the dividend is expected to grow at a constant rate of 8% age the
shareholders required rate of return will be
1. 8 %
2. 25%
3. 20%
4. 13%

55. Statement (I): Though closely related, job evaluation and performance appraisal are
not the same
Statement (II): The purpose of job evaluation is to fix the renumeration and other relevant
benefits
In the context of the above two statements which one of the following codes is correct?
1. Both statements (I) and (II) are correct
2. Both the statements (I) and (II) are incorrect
3. Statement (I) is correct while statement (II) is incorrect
4. Statement (I) is incorrect while statement (II) is correct

56. The attitude based on beliefs ,opinion ,knowledge for information about the particular
event which the employees posses is
1. Behavioural attitude
2. positive attitude
3. cognitive attitude
4. affective attitude

57. The arithmetic mean of 10 items is 50. If each item is increased by 5, the new
arithmetic mean would be
1. 50
2. 55
3. 60
4. 45

58.Which among the following is not true about BASEL?

1. Initially it was named as Committee of Banking Regulations and Supervisory Practices
2. BASEL was established by the Central Bank Governors of 15 countries
3. It was established by the end of 1974
4. disturbances in international currency and banking markets were responsible for its
establishment

59. Creditworthiness score in India ranges between

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1. 300 to 600
2. 2.300 to 900
3. 3.500 to 1000
4. 900 to 1600

60. A sale and lease back arrangement is more suitable for lessee having
1. Liquidity crisis
2. surplus fund
3. high profit
4. no profit no loss

61. X is an individual of 55 years of age having gross total income 350000 rupees. What
is the tax liability for assessment year 2018 to 19?
1. 5000 rupees
2. 2500 rupees
3. 2580 rupees
4. 3000 rupees

62. Statement (I): the arithmetic mean is an all purpose average.

Statement (II): median and mode are called positional averages.
1. Both statements (I) and (II) are correct
2. Both the statements (I) and (II) are incorrect
3. Statement (I) is correct while statement (II) is incorrect
4. Statement (I) is incorrect while statement (II) is correct

63. Match List - I with List - II :

List – I List - II
(a) Fiscal, monetary and industrial policies (i) Social responsibilities
(b) Social obligations towards several (ii) Stakeholders/interest group
stakeholders
(c) Consumers, shareholders, suppliers, (iii) Business ethics
creditors etc.
(d) Moral principles that defines the light or (iv) Economic policies
wrong
Choose the correct option from given below :
1. (a) – (iii); (b) – (iv); (c) – (ii); (d) – (i)
2. (a) – (i); (b) – (ii); (c) – (iv); (d) – (iii)
3. (a) – (ii); (b) – (iv); (c) – (iii); (d) – (i)
4. (a) – (iv); (b) – (i); (c) – (ii); (d) – (iii)

64. Assertion (A):at times a business may face the situation where it has to shut down its
operations
Reason (R): if the revenue is less than its variable cost the operation should be closed
down.
In the context of the about two statements which one of the following courts is
1. (A) is correct but (R) is not correct
2. (A)and (R) both are correct and (R) is the right explanation of. (A)
3. (A)and (R) both are correct and (R) is the not right explanation of. (A)
4. Both (A) and (R) are incorrect
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65. Promoting team spirit, harmony and unity within the organisation who is the principal
of
1. Order
2. scalar chain
3. Spirit de corps
4. Equity

66. Match List - I with List - II :

List – I List – I
(a) Interbank call market (a) Interbank call market
(b)Commercial bills (b) Commercial bills
(c)Consumers, shareholders, suppliers, (c) Consumers, shareholders, suppliers,
creditors etc. creditors etc.
(d) Moral principles that defines the light or (d) Moral principles that defines the light or
wrong wrong
Choose the correct option from given below :
1. (a) – (i); (b) – (ii); (c) – (iii); (d) – (iv)
2. (a) – (iii); (b) – (i); (c) – (ii); (d) – (iv)
3. (a) – (i); (b) – (iii); (c) – (iv); (d) – (ii)
4. (a) – (iv); (b) – (iii); (c) – (ii); (d) – (i)

67. Organization structure that shows a unique combination of strategy, structure and
management process is known as
1. free- form organization
2. virtual organization
3. network organization
4. horizontal organization

68.Which one is NOT true regarding the Market Stabilization Scheme (MSS)?
1. It absorbs surplus liquidity of enduring nature arising out of large capital flows
2. It absorbs surplus liquidity through sale of short-dated government securities and
treasury bills
3. Mobilised surplus liquidity is held in the MSS account with the Reserve Bank
of India
4. MSS account liquidity can be used for normal government expenditure of
capital nature

69. Find the marginal revenue of a firm that sells a product at a price of ₹10 and the
price elasticity of demand for the product is (—) 2.
1. ₹ 5
2. ₹ 10
3. ₹ 30
4. ₹ 15

70. A statement of change in financial position typically would NOT disclose the effect of
1. share capital issued to acquire productive facilities
2. dividends on share declared

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3. cash dividend declared but not yet paid
4. purchase and retirement of treasury stock

71. Match List - I with List - II :

Choose the correct option from given below :

1. (a) – (iii); (b) – (ii); (c) – (i)
2. (a) – (iii); (b) – (i); (c) – (ii)
3. (a) – (i); (b) – (ii); (c) – (iii)
4. (a) – (ii); (b) – (i); (c) – (iii)

72. Match List - I with List - II :

List – I (Trade and Finance Institution) List – II (Headquarters)

(a) WTO (i) Brussels

(b) IMF (ii) Geneva
(c) FAO (iii) Washington
(d) EU (iv) Rome
Choose the correct option from the given below :
1. (a) – (ii); (b) – (iii); (c) – (iv); (d) – (i)
2. (a) – (i); (b) – (ii); (c) – (iii); (d) – (iv)
3. (a) – (iii); (b) – (ii); (c) – (i); (d) – (iv)
4. (a) – (i); (b) – (iii); (c) – (ii); (d) – (iv)

73. What is the probability that sum of outcomes on pair of dice is equal to 8?
1. 6/36
2. 5/36
3. 4/36
4. 3/36

74. Statement (I): If the tax liability has been reduced within the legal framework, it is tax
planning.
Statement (II): If tax liability has been reduced to get benefit of deduction available
under the income tax, it is called tax evasion.
In the context of the above two statements, which one of the following codes is correct?
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1. Both the Statements (I) and (II) are correct
2. Statement (I) is correct but (II) is incorrect
3. Both Statements (I) and (II) are incorrect
4. Statement (II) is correct but (I) is incorrect

75. Peter F. Drucker noted the relationship between selling and marketing in which of the
following terms?
1. Marketing is a subsidiary component of selling
2. The aim of marketing is to make selling superfluous
3. The aim of selling is to make marketing superfluous
4. Selling and marketing are essentially the same thing

76.Which of the following does NOT fall in the ambit of the objectives of Competition Act,
2002?
1. Encourage Competition
2. Prevent abuse of dominant position
3. Prevent monopolistic rights arising out of intellectual property
4. Regulate mergers and acquisitions

77. SIDBI was set up as a subsidiary of IDBI to

1. takeover the functions of small business financing of IDBI
2. takeover the venture capital operation of IDBI
3. reconstruct and rehabilitate the sick and closed industrial units financed by IDBI
4. facilitate, finance and promote India 's foreign trade

78. After US dollar, which of the following currencies has largest weightage in
determining the value of SDR?
1. Japanese Yen
2. Chinese Yuan (Renminbi)
3. Euro
4. British Pound

79.Which of the following is true about India Trade Policy (Export-Import), 2015—2019?
(a) Doubling the exports (both merchandise and services)
(b) Achieve 3.5% share in global exports
(c) Introduced two new schemes (MEIS and SEIS)
(d) Introduced simplified Aayat-Niryat Form
Choose the correct answer from the following :
1. (a) and (b) only
2. (a) and (c) only
3. (a), (b) and (c) only
4. All are correct

80. Redeemable preference shares of 2,00,000 are to be redeemed at par for which fresh
equity shares of 80,000 are issued at a discount of 10%. What amount should be
transferred to Capital Redemption Reserve Account?
1. ₹ 2,00,000
2. ₹ 1,20,000

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3. ₹ 1,28,000
4. ₹ 72,000

81. Match List - I with List - II :

List – I List - II
(a) Cyber Crime (i) Intellectual Property Right Act
(b) Doctrine of Caveat Emptor (ii)Negotiable Instrument Act
(c) Dishonour of Bill (iii) Sale of Goods Act
(d) Patent and Copyrights (iv) The Information Technology Act
Choose the correct option from given below :
1. (a) – (iii); (b) – (iv); (c) – (i); (d) – (ii)
2. (a) – (iii); (b) – (ii); (c) – (iv); (d) – (i)
3. (a) – (iv); (b) – (iii); (c) – (ii); (d) – (i)
4. (a) – (ii); (b) – (iv); (c) – (iii); (d) – (i)

82.Which of the following commodities is kept outside the purview of GST?

1. Tobacco products
2. Petroleum products
3. Edible oils
4. Insurance products

83. When a company distributes its products through a channel structure that includes
one or more resellers, it is known as
1. direct marketing
2. indirect marketing
3. integrated marketing
4. multi-level

84. Statement (I): Agreement without consideration is always valid.

Statement (II): All contracts are agreements but all agreements are not contracts.
In the context of the above two statements, which one of the following codes is
correct?
1. Statements (I) and (II) both are correct
2. Both Statements (I) and (II) are incorrect
3. Statement (I) is incorrect and Statement (II) is correct
4. Statement (I) is correct but Statement (II) is incorrect

85. 'Motivation-force or level of efforts is not equal to satisfaction and performance' is

propounded by
1. Porter-Lawler model
2. Vroom 's expectancy theory
3. X and Y theory
4. Adam' s equity theory

86. Product A requires 10 kg of material at the rate of 5 per kg. The actual consumption
of material for the manufacturing of product A comes to 12 kg of material at the rate
of 6 per kg. Direct material cost variance is
1. ₹ 22 (favourable)

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2. ₹ 22 (unfavourable)
3. ₹ 12 (favourable)
4. ₹ 12 (unfavourable)

87. In tax laws, donation to approved and notified association for scientific research is
allowed as
1. 125% of the donation
2. 100% Of the donation
3. 175% of the donation
4. 150% of the donation

88. In which of the following pricing policies, a firm charges higher initial price for the
product and reduces it over time as the demand at higher price is satisfied?
1. Peak load Pricing
2. Incremental pricing
3. Skimming
4. penetration pricing

89. Study the following information :

Covariance between X and Y series = -17.8
Standard deviation of X series = 6.6
Standard deviation of Y series = 4.2
No. of pairs of observation = 20
The coefficient of correlation is
1. – 0.642
2. 0.642
3. 0.253
4. – 0.253

90. Return of income is submitted under which Section of Income-tax Act?

1. Section 138 (1)
2. Section 142 (1)
3. Section 139 (1)
4. Section 129 (1)

91. Amount unutilised in capital gain account scheme for which exemption claimed u/s
54 shall be treated as long-term capital gain, if
1. 2 years have expired from the date of transfer
2. 2 years have expired from the date of deposit
3. 3 years have expired from the date of transfer
4. 3 years have expired from the date of deposit

92. Match List - I with List - II :

List – I List - II
(a) Sec 6 (i) (i) Agriculture Income
(b) Sec 10AA (ii) Leave Travel Concession
(c) Sec 10 (i) (iii) Resident
(d) Sec 10 (5) (iv) Leave Salary

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Choose the correct option from given below :
1. (a) – (i); (b) – (iv); (c) – (iii); (d) – (ii)
2. (a) – (iii); (b) – (iv); (c) – (ii); (d) – (i)
3. (a) – (iii); (b) – (ii); (c) – (iv); (d) – (i)
4. (a) – (iii); (b) – (iv); (c) – (i); (d) – (ii)

93. For a very large population the ratio between SEX and σ is 8 : 40. The Sample size n
will be
1. 5
2. 25
3. 32
4. 48

94. As per Section 52 of the companies Act, 2013, the balance in the Security Premium
Account cannot be utilized for
1. payment of dividend
2. writing off discount on issue of shares
3. issue of fully paid-up bonus share
4. capital losses

95.Which one of the following is NOT the pre-requisite of price discrimination?

1. Firm must have monopoly power
2. Product have multiple close substitutes and different uses
3. Markets are separated and segmented
4. Price elasticity of product must differ in different markets

96.Which of the following is the predecessor of the IRDA Act, 1999?

1. The Insurance Act, 1938
2. The Life Insurance Corporation Act, 1956
3. The Marine Insurance Act, 1963
4. The Public Liability Insurance Act, 1991

97. Match List - I with List - II :

List – I List - II
(a) 80 TTA (i) Deduction in respect of payment of interest on loan taken for
higher education
(b) 80 CCD (ii) Deduction in respect of interest on loan taken for residential
house property
(c) 80 E (iii) Deduction in respect of interest on deposits in savings account
(d) 80 EE (iv) Deduction in respect of contribution to national pension system
1. (a) – (iii); (b) – (iv); (c) – (i); (d) – (ii)
2. (a) – (iii); (b) – (iv); (c) – (ii); (d) – (i)
3. (a) – (iii); (b) – (i); (c) – (ii); (d) – (iv)
4. (a) – (i); (b) – (ii); (c) – (iii); (d) – (iv)

98.Which of the following are considered non-parametric tests?

(a) Mann-Whitney U test
(b) KruskaI-Wallis test

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(c) (c) F-test
(d) (d) T-test
(e) (e) Chi-square test
Choose the correct option from the following :
1. (a), (b) and (e)
2. (a), (b) and (c)
3. (a), (b), (c) and (d)
4. (a), (b), (c), (d) and (e)

99. Shopping goods have which of the following features?

(a) These products are generally durable in nature
(b) Consumers generally compare the goods of various sellers and then buy such goods
(c) Per unit price of these goods is generally high
(d) These goods are regularly and continuously in demand
(e) These goods are sold as a result of aggressive promotional efforts
Choose the right answer from the option given below :
1. (c), (d) and (e)
2. (a), (b) and (c)
3. (b), (c) and (d)
4. (a), (c) and (e)

100. If two regression coefficients are – 0.8 and – 0.2, then the value of coefficient of
correlation is
1. – 0.16
2. – 0.50
3. + 0.40
4. – 0.40

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ANSWERS
1 4 21 1 41 2 61 3 81 3
2 1 22 4 42 2 62 1 82 2
3 3 23 3 43 2 63 4 83 2
4 3 24 2 44 3 64 2 84 3
5 3 25 3 45 3 65 3 85 1
6 2 26 1 46 4 66 2 86 2
7 4 27 4 47 4 67 3 87 2
8 4 28 4 48 3 68 4 88 3
9 1 29 2 49 1 69 1 89 1
10 4 30 2 50 4 70 2 90 3
11 4 31 1 51 3 71 1 91 3
12 4 32 1 52 3 72 1 92 4
13 1 33 1 53 2 73 2 93 2
14 3 34 1 54 4 74 2 94 1
15 1 35 4 55 1 75 2 95 2
16 4 36 3 56 3 76 3 96 1
17 3 37 2 57 2 77 1 97 1
18 1 38 4 58 2 78 3 98 1
19 2 39 2 59 2 79 4 99 2
20 4 40 2 60 1 80 3 100 3

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UGC NET PYQ COMMERCE 2018 DECEMBER

1. Match the item of list I with the items of List II and choose the correct answer from the
code given below.
List – I List - II
(a) AS – 1 (i) Accounting for fixed assets
(b) AS – 3 (ii) Disclosure of accounting policies
(c) AS – 10 (iii) Leases and its accounting
(d) AS – 19 (iv) Cash flow statements

1. (a) – (iii); (b) – (i); (c) – (iv); (d) – (ii)

2. (a) – (iii); (b) – (iv); (c) – (ii); (d) – (i)
3. (a) – (iii); (b) – (ii); (c) – (i); (d) – (iv)
4. (a) – (i); (b) – (ii); (c) – (iii); (d) – (iv)

2. Cost plus pricing is considered appropriate for which combination of the following?
(i) Product Tailoring
(ii) Public Utility Pricing
(iii) Refusal Pricing
(iv) Monopoly Pricing
Choose the correct answer from the code given below : Code:
1. Only (i) and (ii)
2. Only (iii) and (iv)
3. Only (ii), (iii) and (iv)
4. Only (i), (ii) and (iii)

3. Choose the correct code for the following statements being correct or incorrect.
Statement I : Punctuality and team spirit among employees of an organization has
great contribution in enhancing profits of the business but they do not appear as an
asset in the balance sheet.
Statement II : Financial statements do not reflect the correct financial position of a
business.
Code:
1. Both the statements I and II are incorrect.
2. Statement I is correct, but II is incorrect.
3. Statement I is incorrect, but II is correct.
4. Both the statements I and II are correct.

4. "Everyone benefits when the focus is on common interest and promotion of harmony" is
the underlying assumption of which one of the following approaches to industrial
relations?
1. Unitary approach
2. Human Relations approach
3. Marxist approach
4. Pluralistic approach

5. Which one of the following statements is not true?

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1. Long-term liabilities due for payment within a year should be treated as current
liabilities.
2. Cost of sales is a better numerator than sales while calculating stock turnover.
3. Higher operating ratio indicates higher profits.
4. Conversion of debentures into preference shares will decrease debt – equity ratio

6. Given is the information related to a house :

Municipal Value (M. V.) ₹ 1,50,000
Fair Rent ₹ 1,80,000
Standard Rent ₹ 1,60,000
Actual Rent ₹ 20,000 pm
Municipal tax paid by owner is 20% of M.V. Unrealised rent ₹ 40,000 (conditions
of rule 4 satisfied). What is the annual value of the house?
1. ₹ 2,10,000
2. ₹ 1,60,000
3. ₹ 1,70,000
4. ₹ 1,50,000

7. Which Of the following are included in the international liquidity? Indicate the correct
code.
(i) Foreign exchange
(ii) Borrowing capacity of the various countries
(iii) Gold reserves
Choose the correct answer from the code given below :
Code:
1. (ii) and (iii)
2. (i) and (ii)
3. (i) and (iii)
4. (i), (ii) and (iii)

8. Which one of the following statements is not true?

1. Profits earned from non-operating activities is added to net profit while calculating
profits from operations.
2. Any transaction that increases working capital is a source of funds.
3. Major source of working capital in the long run, is profits from operations.
4. Depreciation is a source of funds.

9. Match the item of list I with the items of List II and choose the correct answer from the
code given below.
List – I (Type of Interview) List – II (Usual Application)
(a) Structured (i) A realistic approach that yields comparable answers plus
indepth insights
(b) Unstructured (ii) Useful to understand applicant's reasoning and
analytical abilities under modest stress
(c) Mixed (iii) Useful for valid results, especially when dealing with
large number of applicants
(d) Behavioural (iv)Useful when the interviewer tries to probe personal
details of the candidate to why they are not fit for the job
1. (a) – (i); (b) – (iv); (c) – (ii); (d) – (iii)

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2. (a) – (iii); (b) – (iv); (c) – (i); (d) – (ii)
3. (a) – (iv); (b) – (ii); (c) – (i); (d) – (iii)
4. (a) – (iii); (b) – (i); (c) – (ii); (d) – (iv)

10. The monopoly involves a social cost mainly due to its emphasis on which one of the
following?
1. Attempting to stall entry of other firms in the market.
2. Earning net profit in all possible situations.
3. Charging different prices from different categories of buyers of the same product.
4. Lower output at a higher cost in a normal profit situation.

11. Which one of the following demands states are adequately buying all the products put
into the marketplace?
1. Irregular demand
2. Overfull demand
3. Latent demand
4. Full demand

12. Which one of the following is not true for introducing multiple brand in a category?
1. Yielding economics of scale in advertising, sales merchandising and physical
distribution
2. Attracting consumers seeking variety who may otherwise have switched to another
brand
3. Increasing shelf presence and retailer dependence in the store
4. Decreasing interval competition within the firm

13. Match the item of list I with the items of List II and choose the correct answer from
the code given below.
List I List II
(a) Claims (i) Company car, club memberships, paid
(b) Fringe benefits (ii) Telephone/mobile allowance, internet
allowance medical allowance
(c) Perquisites (iii) Canteen, uniform, accident relief
Code:
(a) – (i), (b) – (ii), (c) – (iii)
(a) – (ii), (b) – (i), (c) – (iii)
(a) – (iii), (b) – (ii), (c) – (i)
(a) – (ii), (b) – (iii), (c) – (ii)

14. ―Skimming in e- Banking method of

1. Stealing credit card information
2. Intimating the customer about his heavy withdrawals
3. Converting Debit Card into Credit Card
4. Transferring cash from one account to another account

15. Which one of the following item is not a part of job specification ?
1. Location
2. Judgement

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3. Emotional Characteristics
4. Initiative

16. Match the item of list I with the items of List II and choose the correct answer from
the code given below.
List I List II
(a) The economy was characterised by small (i). Mass marketing
region suppliers who sold goods on local
basis
(b) Standardised, branded goods were sold (ii) Hyper-segmentation
art national level
(c) Era of market differentiation based on (iii) Segmentation
demographic, socio-economic and life style
factors
(d) Technological advancements, especially (iv) Fragmentation
in the area of digital communication, allow
marketers to communicate with individual
consumers or very small groups
Code:
1. (a) – (i); (b) – (iv); (c) – (ii); (d) – (iii)
2. (a) – (iv); (b) – (i); (c) – (ii); (d) – (iii)
3. (a) – (i); (b) – (ii); (c) – (iii); (d) – (iv)
4. (a) – (iv); (b) – (i); (c) – (iii); (d) – (ii)

17. Which one of the following statement is correct?

1. One of the objectives of setting up SEBI is to protect the interests of investors
2. SEBI is constituted from amongst the directors of various stock exchanges
3. The purpose of issuing different type of rules and regulations by SEBI is to bring
monetary gains to investors
4. SEBI has been constituted under the Securities (Contract and Regulation) Act,1956.

18.Who among the following is not an observer country of the SAARC?

1. Canada
2. USA
3. Iran
4. China

19. Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A) : Training aids in encouraging and achieving self-development and self-
confidence
Reason (R) : It helps a person handle stress, tension, frustration and conflict.
Code:
1. Both (A) and (R) are correct and (R) is the right explanation of (A).
2. Both (A) and (R) are correct and (R) is not the right explanation of (A).
3. Both (A) and (R) are incorrect.
4. (A) is correct but (R) is not correct.

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20. Choose the correct code for the following statements being correct or incorrect.
Statement I : An option which gives its holder the privilege of selling to other party a fixed
amount of some stock at a stated price on or before a predetermined date is known as call
option.
Statement II : In an option ,the holder has the privilege of purchasing from other party a
fixed amount of some stock at a stated price on or before a predetermined date is known
as put option.
Code:
1. Statement II is correct, but I is incorrect.
2. Both the Statement I and Statement II are correct.
3. Both the Statement I and Statement II are incorrect.
4. Statement I is correct, but II is incorrect.

21. A company purpose to introduce a now product in the market. The company wants
to maintain P/V ratio at 25%. If variable cost of the product is ₹ 300, what will be the
selling price?
1. ₹100
2. ₹400
3. ₹300
4. ₹200

22.Which of the following variables is not known in Internal Rate of Return method of
capital budgeting?
1. Amount of cash outflows
2. Discount rate
3. Amount of cash inflows
4. Life of the project

23. X Ltd forfeited 40 shares of ₹10 each and on which ₹ 4 per share were paid. If the
forfeited shares are reissued as ₹ 8 per share paid up, what is the minimum price the
company must charge?
1. ₹ 4 per share
2. ₹ 10 per share
3. ₹ 2 per share
4. ₹ 8 per share

24. Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A) : Among all methods of charging deprecation on fixed assets, diminishing
balance method is the best method
Reason (R) : Diminishing balance method of charging deprecation has been permitted
under the Income Tax Act,1961 for claiming deduction for depreciation.
Code:
1. Both (A) and (R) are correct and (R) is not the right explanation of (A).
2. Both (A) and (R) are correct.
3. Both (A) and (R) are correct and (R) is the right explanation of (A).
4. (A) is correct but (R) is not correct.

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25. In which One of the following forms of workers participation in management is the role
of the workers council not just advisory but the management is under a moral obligation
to acknowledge, accept and implement the unanimous decision of the council?
1. Decisive Participation
2. Administrative Participation
3. Associative Participation
4. Consultative Participation

26. The probable error of the coefficient of correlation (r) is calculated by which one of the
following formula ?

27. Which of the following statements is / are false?

(i) capital profits can never be distributed as dividend to the shareholders
(ii) dividends are paid out of profit and therefore do not affect the liquidity position of the
firm
(iii) every company should follow the policy of low dividend payment
(iv) walters model suggest that dividend payment does not affect the market price of the
share
1.(ii) (iii) and (iv)
2.(i) (ii) (iii) and(iv)
3.(i) (ii)and (iii)
4.(iii) and (iv)

28.The inverse relationship between the variation in the price and the variation in the
quantity demanded is not due to
1.Gossen‘s laws of consumption
2. Law of substitution
3. Price effect
4. entry and exit of buyers

29.Which one of the following is not the function of the reserve Bank of India?
1. Issue of banknotes
2. controller of credit
3. custodian of cash reserves of commercial banks
4. Accepting deposits and advancing loans to public

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30.Indicate the most popular route of privatisation adopted by the government of India
in recent decades
1. cross holdings
2. Strategic sale
3. Spontaneous privatization
4. Management employee buyout

31. A firm has inventory turnover of 3 e and cost of goods sold is rupees 270000.With
better inventory management the inventory turnover is increased to would result in
1. Increase in inventory by rupees 54000
2. Decrease in inventory by rupees 36000
3. decrease in inventory by rupees 90000
4. Increase in cost of goods sold by rupees 20000

32. Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List I List II
(a) Job context (i) Procedures used
(b) Job-related tangibles and intangibles (ii) Work schedule
(c) Work activities (iii) Work standards
(d) Work performance (iv) Services rendered
1. (a)-(ii), (b)-(iv), (c)-(i), (d)-(iii)
2. (a)-(i), (b)-(iv), (c)-(ii), (d)-(iii)
3. (a)-(iv), (b)-(iii), (c)-(i),(d)-(ii)
4. (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i)

33.To examine whether the company is pursuing its best opportunities with respect to
markets, products and channels is the purpose of which one of the following types of
marketing control?
1. Annual plan control
2. strategic control
3. profitability control
4. Efficiency control

34.if a perpendicular on x axis from the point of intersection of both ―less than‖ and ―more
than‖ frequency curve is drawn, it gives the value of
1. Median
2. Mode
3. Arithmetic mean
4. third quartile

35. Which one of the following is agricultural income under Income tax Act?
1. Income from the land used for storing agricultural products
2. Dividend from a company engaged in agriculture
3. Income from the sale of replanted trees where denuded parts of the forest and
subsequent operations in forestry are carried out
4. Income from dairy farm, poultry farm etc

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36.The theory suggesting that the patterns of international trade are determined by factor
endowment rather than productivity was propounded by which one of the following?
1. Michael Porter
2. David Ricardo
3. Heckscher and Bertil Ohlin
4. Adam Smith
37.which one of the following is not the correct property of normal distribution?
1. Continuous distribution
2. equality of Central values (mean , median and mode)
3. Standard deviation is the sole parameter of the distribution
4. Uni model distribution

38.Arrange the following stages of staffing in correct sequence and indicate the code of
correct sequence
(i) performance appraisal
(ii) Recruitment
(iii) Transfers
(iv) Selection
(v) Induction and orientation
Choose the correct answer from the code given below:
Code:
1. (iv) (ii) (v) (iii) (i)
2. (i) (ii) (iv) (v) (iii)
3. (ii) (i) (iv) (v) (iii)
4. (ii) (iv) (v) (i) (iii)

39.Combined leverage can be used to measure the relationship between

1. EBIT and EPS
2. Sales and EBIT
3. Sales and EPS
4. PAT and EPS

40.Which among the following is not included in seven Ps of marketing mix given by
Booms and Bitner?
1. Politics
2. Physical evidence
3. People
4. process

41. Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List I List II
(a) Behaviour referent (i) Wide ranging cultural. structural and
personnel strategies
(b) Focus of attention for interventions (ii) Manage climate and culture
(c) Conflict handling (iii) Few
(d) Job categories and grades (iv) Values/mission

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1. (a)-(iii ), (b)-(i), (c)-(ii), (d)-(iii)
2. (a)-(i), (b)-(ii), (c)-(iv), (d)-(iii)
3. (a)-(iv), (b)-(i), (c)-(ii),(d)-(iii)
4. (a)-(iv), (b)-(ii), (c)-(i), (d)-(iii)

42. on fulfilling certain conditions for an undertaking setup in special economic zones,
deduction under section 10 AA of the Income tax Act is allowed for
1. 10 years
2. Unlimited period
3. 5 years
4. 15 years

43. choose the correct code for the following statements being correct or incorrect.
Statement 1: thousands of employees died everyday in factories due to accidents
Statement 2: to make an accident free plant to cost and decrease productivity
Code:
1. Statement 1 is correct but 2 is incorrect
2. Both the statements 1 and 2 are incorrect
3. Statement 2 is correct but 1 is incorrect
4. Both statements 1 and 2 are correct

44. Given below are two statements one labelled as assertion (A) and other labelled as
reason(R). Read the statements and choose the correct answer using the code given
below.
Assertion (A):purchase decisions are not based on how customers perceive prices but on
the marketers stated price
Reason (R):customers may have a lower price threshold below which prices signal inferior
or un acceptable quality and an upper price threshold were the the product appears not
worth the money
1. Both (A) and (R) are correct but (R) is not the right explanation of (A)
2. Both (A) and (R) are incorrect
3. Both (A) and (R) are correct and (R) is write explanation of (A)
4. (A) is incorrect but (R) is correct

45. Cardinal utility analysis of consumers behaviour is based on which combination of

the following assumptions:
(i) utility is measurable in terms of Cardinal numbers
(ii) constancy of the marginal utility of money
(iii) Utilities of different goods are interdependent
(iv) Gossen's first law of consumption
Choose the correct answer from the code given below
1.Only (iii) and (iv)
2. Only (ii) (iii) and (iv)
3. Only (i) (ii) and (iv)
4. Only (i) and (ii)

46. Match the items of List I with the items of Lin II and choose the correct answer from
the code given below.

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List I List II
(a) Rival Firms (i) External Environment
(b) Technology (ii) Social and Cultural Environment
(c) Improving Quality (iii) Internal Environment
(d) Ethics in Business (iv) Global Environment

1. (a)-(iv ), (b)-(i), (c)-(ii), (d)-(iii)

2. (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)
3. (a)-(i), (b)-(ii), (c)-(iii),(d)-(iv)
4. (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)

47.Which among the following is not an internal factor of pricing decision?

1.Consumer expectation from company by past pricing
2. Consumer behaviour for given product
3. position of product in product cycle
4. Price elasticity as per sales of product

48. Banking Ombudsman scheme was introduced by RBI with effect from
1. 2005
2. 1998
3. 1995
4. 2001

49. which one of the following is not the basic function of WTO?
1. to facilitate the implementation, administration and operation of trade agreements
2.to facilitate the expansion and balanced growth of international trade
3. to carry out periodic reviews of the trade policies of its member countries
4. To settle differences and disputes among its member countries

50. Given below are two statements one labelled as assertion (A) and other labelled as
reason(R).Read the statements and choose the correct answer using the code given below.
Assertion (A): technological change and skill requirements have been made a subject of
investigation in an organisation
Reason (R): the neoclassical economic theory stated that technological changes required
a border variety of skills and higher average skills from the code given below.
Options
1. Both (A) and (R) are correct but (R) is not the right explanation of (A)
3. Both (A) and (R) are correct and (R) is write explanation of (A)
4. (A) is incorrect but (R) is correct
4. Both (A) and (R) are incorrect

51.Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List I List II
(i) Balance of trade (A) Imports and exports of goods and
services and unilateral transfer of goods
and services
(ii) Current account (B) Transactions leading to changes in the

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financial assets and liabilities of a country
(iii) Balance of payments (C) All economic transactions between a
country's residents and residents of other
countries
(iv) Capital account (D) Value of exports and imports of a county
Code :
(1) (i)-(D), (ii)-(C),(iii)-(B) (iv)-(A)
(2) (i)-(D), (ii)-(A),(iii)-(C) (iv)-(B)
(3) (i)-(C),(ii)-(B),(iii)-(D), (iv)-(A)
(4) (i)-(A), (ii)-(B), (iii)-(C),(iv)-(D)

52.Which of tho following statements is/are true ?

(i)Tax-shield on depreciation and interest is an important variable both for the lessor and
the lessee.
(ii) Lease transactions in India are governed by the lease Act.
(iii) A lessee should evaluate the lease options against the buying option.
(iv) As per AS — 19, financial lease is shown in the balance sheet of the lessee as an asset.
Choose the correct answer from the code given below :
Code:
(1) (i), (iii) and (iv)
(2) Only (ii)
(3) (ii), (iii) and (iv)
(4) (i) and (iv)

53.Banks are required to classify Non-Performing Assets into

(1) Doubtful assets, bad debts and loss assets
(2) Standard assets, and sub-standard assets
(3) Doubtful assets, and bad debts
(4) Sub-standard assets, doubtful assets, and loss assets

54. Tho companies having business in a large number of countries around the world at
present are called
(1) Global Corporations (GCs)
(2) Multinational Corporations (MNCs)
(3) Multinational Enterprises (MNEs)
(4) Transnational Corporations (TNCs)

55.Bretton Woods Conference resulted into the establishment of which of the following ?
(1) IDA and ADB
(2) IMF and IDA
(3) IMF and IBRD
(4) IBRD and IFC

56. Choose the correct code for the following statements being correct or incorrect.
Statement I : A well-chosen marketing channel must be aligned to company's marketing
strategy with respect to segmentation, targeting and positioning.
Statement II : Marketing channels are set of interdependent organizations participating
in the process of making the product available for the use of consumption.

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Code :
(1) Both the statements I and II are incorrect.
(2) Both the statements I and II are correct.
(3) Statement I is correct, but II is incorrect.
(4) Statement II is correct, but I is incorrect.

57.Choose the correct code for the following statements being correct or incorrect.
Statement I: FX Spot is an agreement between two parties to buy one currency against
selling another currency at an agreed price for settlement on the spot date.
Statement II: The date of maturity of a forward contract is more than two business days
in future.
Code :
(1) Both the statements I and II are correct.
(2) Both the statements I and II are incorrect
(3) Statement I is correct, but H is incorrect.
(4) Statement II is correct, but I is incorrect.

58. Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A): Databases assist in market segmentation, especially behavioural
segmentation such as developing loyalty segments
Reason (R) : Customer Relationship Management (CRM) databases have become an asset
for the analysis of customer behaviour.
Code :
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are incorrect.
(3) (A) is correct but (R) is not correct
(4) Both (A) and (R) are correct but (R) is not the right explanation of (A).

59. Match the items of list I with the items of List II and choose the correct answer from
the code given below.
List I (Propounder of Theory) List II (Theory of Motivation)
(i) Dr. Willian Ouchi (A) X Theory
(ii) Douglas McGregor (B) Need Hierarchy Theory
(iii) Frederick Herzberg (C) z Theory
(iv) A.H. Maslow (D) Hygiene Theory
Code :
(1) (i)-(B), (ii)-(A), (iii)-(C), (iv)-(D)
(2) (i)-(C), (ii)-(A), (iii)-(D), (iv)-(B)
(3) (i)-(D), (ii)-(A),(iii)-(C),(iv)-(B)
(4) (i)-(B), (ii)-(C), (iii)-(D), (iv)-(A)

60. Choose the correct code for the following statements being correct or incorrect.
Statement I: When the two securities returns are perfectly positively correlated, the risk of
their portfolio is just a weighted average of the individual risks of the securities. In such
case, diversification does not provide risk reduction but only risk averaging.

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Statement II : Total risk of a portfolio of two risk securities can bo completely eliminated
when their returns are perfectly negatively correlated and their proportionate holdings in
the portfolio are inversely related to the relative individual risks of the securities.
Code :
(1) Both the statements I and II are incorrect.
(2) Both the statements I and II are correct.
(3) Statement II is correct, but I is incorrect.
(4) Statement I is correct, but II is incorrect.

61. Foreign investment can be made through which of the following routes ?
(i) Foreign Direct Investment (FDI)
(ii) Foreign Portfolio Investment (FPI)
(iii) Private Equity Investment (PM)
(iv) Foreign Venture Capital Investors (FVCI)
Choose the correct answer from the code given below :
Code :
(1) (i),(ii), (iii) and (iv)
(2) (i), (iii) and (iv)
(3) (i), (ii) and (iv)
(4) (i) and (iv)

62. Which one among the following is the oldest form of organization ?
(1) Line Organization
(2) Committee Organization
(3) Functional Organization
(4) Project Organization

63. Which one of the following is not the advantage of database management system?
(1) Shared data
(2) Improved data integrity
(3) Centralized control
(4) High acquisition costs

64. Match the items of list I with the items of List II and choose the correct answer from
the code given below.
List I List II
(i) Mobile defense (A)ccupying the most desirable position in
consumers' minds, making the brand
almost impregnable.
(ii) Contraction defense (B) The leader stretches its domain over
new territories through market broadening
and market diversification.
(iii) Position defense (C) Large companies give up weaker
markets and reassign resources to stronger
ones.

(1) (i)-(A),(ii)-(B),(iii)-(C)
(2) (i)-(A),(ii)-(C),(iii)-(B)
(3) (i)-(B),(ii)-(C),(iii)-(A)

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(4) (i)-(B),(ii)-(A),(iii)-(C)

65. Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List I List II
(i) Income elasticity less than unity (A) Competitive goods
(ii) Cross elasticity less than unity (B) Inferior goods
(iii) Cross elasticity less than zero (C) Superior goods
(iv) Income elasticity less than zero (D) Complementary goods
Code :
(1) (i)-(A),(ii)-(B)-(iii)-(C), (iv)-(D)
(2) (i)-(C), (ii)-(A), (iii)-(D), (iv)-(B)
(3) (i)-(D),(ii)-(C) (iii)-(A), (iv)-(B)
(4) (i)-(D), (ii)-(A), (iii)-(B), (iv)-(C)

66. Choose the correct code for the following statements being correct or incorrect.
𝜇
Statement I : If the value of 𝛽2 , i.e, 𝜎4 of a distribution gives the value more than 3, its
4
curve is platykurtic.
Statement II : In a moderately asymmetrical distribution, the standard deviation is 1.25
times of mean deviation.
Code :
(1) Statement II is correct, but I is incorrect.
(2) Both the statements I and II are correct.
(3) Both the statements I and II are incorrect.
(4) Statement I is correct, but II is incorrect.

67. Under Sec. 194 IB of the Income Tax Act, 1961 an individual or HUF (who is not
required to get his accounts audited u/s 44 AB) who is responsible for paying to a
resident any rent, shall deduct income tax, for the use of any land and building or both,
if the rent exceeds
(1) Rs 15,000 per month
(2) Rs 25,000 per month
(3) Rs 50,000 per month
(4) Rs 40,000 per month

68. Sales of a firm are 40 lacs; variable costs 10 lacs; fixed costs 15 lacs; interest 5 lacs.
Combined leverage of the firm will be
(1) 2
(2) 3
(3) 8
(4) 2.5

69. The Industrial Policy, 1956 has been prompted by which combination of the
following developments ?
(i) Adoption of the Constitution of India.
(ii) Implementation of Economic Planning.
(iii) Acceleration of Economic Growth and Industrialisation.
(iv) Availability of Sufficient Funds for Investment in Public Sector.

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Choose the correct answer from the code given below :
Code :
(1) Only (ii) and (iv)
(2) Only (i), (ii) and (iv)
(3) Only (ii), (iii) and (iv)
(4) Only (i) and (ii)

70.Match the items of List I with the items of List II and code given below.
List I List II
(i) Compensation received by an employee (A) Exemption upto specified limit
from his employer on termination of job
(ii) Pension received by the widow of an (B) Profits in lieu of salary
employee
(iii) Foreign allowance for rendering services (C) Income from other sources
abroad
(iv) Children hostel allowance (D) Fully exempt from tax
Code :
(1) (i)-(B),(ii)-(C) (iii)-(D), (iv)-(A)
(2) (i)-(B), (ii)-(D), (iii)-(C), (iv)-(A)
(3) (i)-(C), (ii)-(D), (iii)-(B), (iv)-(A)
(4) (i)-(D),(ii)-(C), (iii)-(A), (iv)-(B)

71. Which one of the following initiatives is not the strategy for managing shortage of
employees in an organisation ?
(1) Offer incentives to postpone retirement
(2) Hire temporary employees
(3) Attempt to reduce turnover
(4) Employee training
72.Production function is based on which combination of the main characteristics of the
inputs from the following :
(i) Substitutability
(ii)Complementarity
(iii) Flexibility
(iv) Specificity
Choose the correct answer from the code given below :
Code:
(1) Only (ii), (iii) and (iv)
(2) Only (i), (ii) and (iv)
(3) Only (i) and (ii)
(4) Only (iii) and (iv)

73. Which one of the following is the main government agency responsible for
development and monitoring international trade in India ?
(1) Federation of Indian Export Organisations
(2) Department of Commerce
(3) Export Promotion Council
(4) Indian Institute of Foreign Trade

74. Which one of the following is not an advantage of external recruitment ?

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(1) Compliance with reservation policy becomes easy
(2) Benefits of new skills, new talents and new experiences to organisations are available
(3) Good performance is rewarded
(4) Scope for resentment, jealousies and heartburn are avoided

75. Choose the correct code for the following statements being correct or incorrect.
Statement I: Intellectual Property (IP) is a category of property that includes intangible
creations of the human intellect.
Statement II: IPR does not include trade secrets and moral rights.
Code:
(1) Both the statements I and II are correct.
(2) Both the statements I and II are incorrect.
(3) Statement II is correct, but I is incorrect.
(4) Statement I is correct, but II is incorrect.

76. Critical path indicates which one of the following ?

(1) Recorded time of completing a task
(2) Average time of completing a task
(3) Shortest route of completing a task
(4) Longest route of completing a task

77.In which one of the following modes of entry into foreign market are risk and profit
potential the highest ?
(1) Direct exporting
(2) Direct investment
(3) Indirect exporting
(4) Joint ventures

78. Which of the following is not a method of preparation of cash budget ?

(1) Proforma Balance Sheet method
(2) Receipts and Payments method
(3) Cash Cycle method
(4) Adjusted Net Income method

79. For the following two statements regarding infrastructural services in the country,
choose the correct code for the statements being correct or incorrect.
Statement I : Most infrastructure services are provided by public monopolies which
generally suffer with severe problems like lack of accountability, low productivity, poor
financial performance and over-employment.
Statement II: There is a need now to induce more private sector investment and
participation in provision of social overheads as it may encourage better risk sharing,
accountability, monitoring and management of infrastructure sector.
Code :
(1) Both I and II are correct.
(2) I is correct, but II is incorrect.
(3) I is incorrect, but II is correct.
(4) Both I and II are incorrect.

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80 .Which one of the following modes is not an example of Direct and Database marketing
communication ?
(1) Catalogues
(2) Social media marketing
(3) Telemarketing
(4) Mailings

81 .Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A.) The multilateral trading system is an attempt by governments to make the
business environment stable and predictable.
Reason (R) : Promising not to raise trade barriers can be as important as lowering one,
because the promise gives businesses a clearer view of their future market
opportunities.
Code :
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are incorrect.
(3) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(4) (A) is correct but (R) is incorrect.

82. Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List II List I
(i) NPA (A) The percentage of deposits to be kept
with RBI in the form of cash.
(ii) SLR (B) The rate at which RBI lends money to
commercial banks.
(iii) Repo Rate (C) Loans and advances not paid for more
than 90 days.
(iv) CRR (D) The percentage of net demand and time
liabilities to be kept in the form of liquid
assets.
Code :
(1) (i)-(C), (ii)-(D), (iii)-(B), (iv)-(A)
(2) (i)-(C),(ii)-(B), (iii)-(D), (iv)-(A)
(3) (i)-(B), (ii)-(C), (iii)-(D), (iv)-(A)
(4) (i)-(C), (ii)-(D), (iii)-(A), (iv)-(B)

83. 'Finance for exporting companies' as part of major programmes of the Exim Bank of
India does not include
(1) Post-shipment credit
(2) Term loans
(3) Overseas investment finance
(4) Working capital

84. Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given

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below.
Assertion (A) : There exists excess capacity of the production for the firms if these incur
losses.
Reason (R) : Their production level has to remain below their economic capacity level.
Code :
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) (A) is correct but (R) is incorrect.
(3) Both (A) and (10 are correct but (R) is not the right explanation of (A).
(4) (A) is incorrect but (R) is correct.

85 .Which of the following statements relating to the sampling theory are correct ?
(i) The values of the statistical measures based on the sampled units are called values of
statistic.
(ii) In the simple random sampling technique, the element of the population and the
unit of the sample are different.
(iii) Snow-ball sampling technique is a probability based sampling technique.
(iv) The law of statistical regularity' and the law of inertia of large numbers' are the main
bases of the sample to become representative of the population.
Choose the correct answer from the code given below :
Code :
(1) (i), (ii) and (iii)
(2) (i) and (iv)
(3) (ii), (iii) and (iv)
(4) (ii) and (iii)

86. For performance assessment of employees, "helping to meet legal requirements" is

the application of which one of the following ?
(1) Administrative purpose
(2) Documentation purpose
(3) Developmental purpose
(4) Organisational maintenance purpose

87. Corporations are controlled and directed by which one of the following ?
(1) Corporate ethics
(2) Corporate codes
(3) Corporate governance
(4) Corporate mechanism

88. According to Donald Kirkpatrick, training programmes can be evaluated at four

levels. Indicate the code of correct sequence from the following :
(i) Result
(ii) Reaction
(iii) Learning
(iv) Behaviour
Choose the correct answer from the code given below :
Code :
(1) (iv), (iii),(ii) ,(i)
(2) (ii), (iii), (iv), (i)

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(3) (i), (ii),(iii), (iv)
(4) (iii), (iv), (i), (ii)

89.Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A) : Consumers need to be given legal protection against certain trade
practices and business methods.
Reason (R) : Protection as per market forces and 'Caveat Emptor' is not enough as
perfectly competitive market is an economist's dream and consumer sovereignty is a
myth.
Code :
(1) (A) is incorrect but (R) is correct.
(2) (A) is correct but (R) is incorrect.
(3) Both (A) and (R) are correct and (R) is the right explanation of (A).
(4) Both (A) and (R) are correct but (R) is not the right explanation of (A).

90. Which of the following sources of finance has an implicit cost of capital ?
(1) Debentures
(2) Equity share capital
(3) Retained earnings
(4) Preference share capital

91. Given below are two statements, one labelled as Assertion (A) and the other labelled
as Reason (R). Read the statements and choose the correct answer using the code given
below.
Assertion (A) : A low debt-equity ratio is generally recommended for a newly started
business.
Reason (R) : During the initial years of the business, debt servicing will prove to be less
burdensome.
Code :
(1) Both (A) and (R) are correct but (R) is not the correct explanation of (A).
(2) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(3) (A) is correct but (R) is not correct.
(4) (A) is not correct but (R) is correct.
92. When RBI reduces CRR, it results into
(1) Increase in deposits
(2) Decrease in lendable resources
(3) Decrease in deposits
(4) Increase in lendable resources

93. Second generation reforms in our country do not comprise of which one of the
following ?
(1) Clean environment
(2) Population control measures
(3) Growing Indian transnational corporations
(4) Exploiting the knowledge based global economy

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94. Choose the correct code for the following statements being correct or incorrect.
Statement I : An identifiable group of people contributing their efforts towards attainment
of goals is called organization
Statement II : In its broadest sense, organization refers to the relationship between the
various factors present in a given endeavour.
Code :
(1) Statement H is correct, but I is incorrect.
(2) Statement I is correct, but II is incorrect.
(3) Both the statements I and II are incorrect.
(4) Both the statements I and II are correct.

95. Advertising method in which a commercial is broadcast simultaneously on several

radio stations and/or television channels is known as
(1) Exclusive drive
(2) Intensified campaign
(3) Road side
(4) Road block

96. A and B are partners in a firm sharing profits in the ratio of 3 : 2. They admit X as a
partner for 1/3 share in profits of the firm. The new profit sharing ratio of A, B and X is
(1) 3:2:1
(2) 3:2:3
(3) 6:4:5
(4) 3:2:2

97.Match the items of List I with the items of List II and choose the correct answer from
the code given below.
List I List II
(i) Direct investment overseas aimed at (B) Backward Vertical FDI
manufacturing products not manufactured
by the firm in the home country
(ii) Direct investment in a foreign country (A) Inward FDI
aimed to sell the output of the firm's
domestic production.
(iii) Direct investment overseas aimed at (C) Conglomerate F'DI
providing inputs for the firms production
process in the home country.
(iv) Foreign firms investing overseas and (D) Forward Vertical FDI
taking control over foreign assets.
Code :
(1) (i)-(D), (ii)-(C),(iii)-(B) (iv)-(A)
(2) (i)-(A), (ii)-(D), (iii)-(B), (iv)-(C)
(3) (i)-(C), (ii)-(D), (iii)-(B), (iv)-(A)
(4) (i)-(C), (ii)-(B), (iii)-(A), (iv)-(D)

98. Merger of two companies under the Board for Industrial and Financial Reconstruction
(BIFR) supervision is known as
(1) Arranged merger
(2) Negotiated merger

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(3) Offer for sale
(4) Reverse merger

99. Which one of the following is not the fund based business of commercial banks ?
(1) RTGS/NEFT transactions
(2) Overdraft facility
(3) Issuance of Letters of Credit
(4) Acceptance of deposits

100. Choose the correct code for the following statements being correct or incorrect.
Statement I : The geometric mean of the two regression coefficients of X and Y variables
gives the value of the coefficient of correlation.
Statement II : If the population distribution is not normal and a sampling distribution of
mean is prepared by taking small sized samples, the sampling distribution of mean is not
normal.
Code :
(1) Statement I is correct, but II is incorrect.
(2) Both the statements I and II are incorrect.
(3) Both the statements I and II are correct.
(4) Statement II is correct, but I is incorrect.

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ANSWERS
1 2 21 2 41 3 61 1 81 1
2 4 22 2 42 4 62 1 82 1
3 4 23 1 43 1 63 4 83 1
4 1 24 2 44 4 64 3 84 1
5 3 25 3 45 3 65 2 85 2
6 3 26 1 46 2 66 1 86 2
7 4 27 2 47 2 67 3 87 3
8 4 28 2 48 3 68 2 88 2
9 2 29 4 49 2 69 2 89 4
10 4 30 2 50 2 70 1 90 3
11 4 31 2 51 2 71 4 91 2
12 4 32 1 52 1 72 2 92 4
13 4 33 2 53 4 73 2 93 2
14 1 34 1 54 1 74 3 94 4
15 1 35 3 55 3 75 4 95 4
16 4 36 3 56 2 76 4 96 3
17 1 37 3 57 1 77 2 97 3
18 1 38 4 58 1 78 1 98 1
19 2 39 3 59 2 79 3 99 3
20 3 40 1 60 2 80 2 100 3

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UGC NET PYQ COMMERCE JULY 2018 PAPER - II

1. The central bank can significantly influence the savings, investments and consumer
spending in the economy through which of the following policy ?
(1) Fiscal Policy
(2) Monetary Policy
(3) Industrial Policy
(4) Foreign Exchange Policy

2. Which one of the following is not the characteristic of capitalism ?

(1) Individuals and associations behave with economic motive of maximising their profit
with least sacrifice or cost.
(2) The country‘s major means of production are either owned by the Government or their
use is controlled by the Government.
(3) Producers, consumers and employees compete among themselves, as the resources
and opportunities are limited.
(4) Price, the invisible hand, plays a predominant role in the flow of the factors of
production and consumption.

3. Which of the following is not the salient feature of the industrial policy developments
since 1991 ?
(1) The scope of the private sector has been enormously expanded.
(2) Public sector has been withdrawing partially or fully from several of the enterprises by
divestment.
(3) The Indian industry is increasingly exposed to foreign competition.
(4) Monopoly or dominant position for the public sector in most of the industries and
control of the commanding heights of the economy by the public sector.

4. Which of the following does not form the part of the important information to be
incorporated in the Memorandum of Association as specified in the Companies Act, 2013
?
(1) The name of the company and the state in which it is situated.
(2) The objects for which the company is proposed to be incorporated.
(3) The rules, regulations and bye-laws for the internal management of the company.
(4) The liability of the members of the company, whether limited or unlimited.

5. Assertion (A) : The volume of imports tends to be very high when there is a conjecture
of high rate of economic growth and a sharp fall in the relative price of imports and vice
versa.
Reason (R) : High rate of growth, ceteris paribus, is associated with rise in imports and
increase in the imports, ceteris paribus, is associated with a fall in the relative price of
imports.
Code :
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(3) (A) is correct but (R) is not correct.

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(4) (R) is correct but (A) is not correct.

6. Which of the following statements is not correct relating to consumerism ?

(1) Consumerism is a manifestation of the failure of the business to guarantee and ensure
consumer legitimate rights.
(2) The government does not have any role in consumer protection as it is the part of
business organisations alone.
(3) The consumers should accept consumerism as a means of asserting and enjoying their
rights.
(4) Consumerism evolution is not a set-back for marketing but rather points to the next
stage in the evolution of enlightened marketing.

7. Which one of the following is not covered in the approach adopted by ―Niti Aayog‖ ?
(1) Five year planning approach
(2) Three year action agenda
(3) Seven year strategy
(4) Fifteen year vision

8. Assertion (A) : Personal transactions of the owners of the business are not recorded in
the books.
Reasoning (R) : According to the business entity concept, each business enterprise is
considered as an accounting unit separate from owners.
Code :
(1) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the correct explanation of (A).
(3) (A) is correct but (R) is not correct.
(4) (A) is wrong but (R) is correct.

9. Which one of the following is not an example of ‗financing activities‘ with reference to
cash flow statement ?
(1) Repayment of bank loan
(2) Interest on debentures/Dividend paid
(3) Cash proceeds from public deposits
(4) Sale of fixed assets

10. Which one of the following statements is true about estimated costs and standard
costs ?
(1) Standard costs are based on scientific analysis and engineering studies while
estimated costs are based on historical basis.
(2) Standard cost emphasis is on ―what cost will be‖ while estimated cost emphasis is on
―what cost should be‖.
(3) Standard costs are more frequently revised compared to estimated cost.
(4) Estimated costs are more stable than standard costs.

11. Which one of the following statements is not true ?

(1) An expenditure intended to benefit current year is revenue expenditure.
(2) Amount paid for acquiring goodwill is capital expenditure.

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(3) Wages paid for installation of a new machine is usually debited to wages account.
(4) Revenue expenditure is not intended to benefit future period.

12. X Ltd. forfeited 20 shares of ₹ 10 each, ₹ 8 called up, on which John had paid
application and allotment money of ₹ 5 per share, of these, 15 shares were reissued to
Parker as fully paid up for ₹ 6 per share. What is the balance in the share Forfeiture
Account after the relevant
amount has been transferred to Capital Reserve Account ?
(1) NIL
(2) ₹ 5
(3) ₹ 25
(4) ₹ 100

13. X and Y sharing profits in the ratio of 7 : 3, admit Z for 3/7 share in the new firm in
which he takes 2/7 from X and 1/7 from Y. The new ratio of X, Y and Z will be :
(1) 7 : 3 : 3
(2) 4 : 2 : 3
(3) 14 : 6 : 15
(4) 29 : 11 : 30

14. Assertion (A) : A high operating ratio indicates a favourable position.

Reasoning (R) : A high operating ratio leaves a high margin to meet non operating
expenses.
Code :
(1) (A) and (R) both are correct and (R) correctly explains (A).
(2) Both (A) and (R) are correct but (R) does not explain (A).
(3) Both (A) and (R) are incorrect.
(4) (A) is correct but (R) is incorrect.

15. The following are the two statements regarding concept of profit. Indicate the correct
code of the statements being correct or incorrect.
Statement (I) : Accounting profit is a surplus of total revenue over and above all paid-out
costs, including both manufacturing and overhead expenses.
Statement (II) : Economic or pure profit is a residual left after all contractual costs have
been met, including the transfer costs of management, insurable risks, depreciation and
payments to shareholders sufficient to maintain investment at its current level.
Code :
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement (I) is correct while Statement (II) is incorrect.
(4) Statement (I) is incorrect while Statement (II) is correct.

16. Which one of the following sets is incorrect to show the inter-relationships among
price elasticity coefficient, change in price and change in total revenue ?
Price elasticity coefficient Change in price Change in Total Revenue
(1) Zero Increase Increase
Decrease Decrease
(2) Less than 1 Increase Decrease

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Decrease Increase
(3) Equal to 1 Increase No change
Decrease No change
(4) More than 1 Increase Decrease
Decrease Increase

17. Which one of the following is not the basic property of indifference curves ?
(1) Indifference curves have a negative slope.
(2) Indifference curves of imperfect substitutes are concave to the origin.
(3) Indifference curves do not intersect nor are they tangent to one another.
(4) Upper indifference curves indicate higher level of satisfaction.

18. When labour is plotted on X-axis and capital is plotted on Y-axis and an iso-quant is
prepared, then which of the following statements is/are false ?
(a) Marginal rate of technical substitution of labour for capital is equal to the slope of the
iso-quant.
(b) Marginal rate of technical substitution of labour for capital is equal to change in the
units of capital divided by the change in the units of labour.
(c) Marginal rate of technical substitution of labour for capital is the ratio of marginal
productivity of capital to marginal productivity of labour.
Code :
(1) (a) and (b) statements
(3) Only (a) statement
(2) Only (c) statement
(4) Only (b) statement

19. Match the items of List - II with the items of List - I and indicate the code of correct
matching.
The items relate to economies of scale/scope.
List - I List - II
(a) Economies of scale (i) arise with lower average costs of manufacturing a product
when two complementary products are produced by a single
firm
(b) Internal economies (ii) Mean lowering of costs of production by producing in bulk
(c) External economies (iii) Arise when cost per unit depends on size of the firm
(d) Economies of scope (iv) Arise when cost per unit depends on the size of the
industry, not the firm
Code :
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)
(2) (i) (ii) (iii) (iv)
(3) (ii) (iii) (iv) (i)
(4) (iv) (iii) (ii) (i)

20. A firm that produces highly substitute goods can adopt which one of the following
pricing strategies ?
(1) Transfer pricing
(2) Going Rate pricing
(3) Product bundling
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(4) Full cost pricing

21. In a perfectly competitive market, a firm in the long run operates at the level of output
where :
(1) AC = MC when MC is lowest
(2) MC = AR = MR when MC is lowest
(3) MR = MC
(4) AR = MR =AC = MC

22. Assignment of numerals to the objects to represent their attributes is known as :

(1) Nominal data
(2) Ordinal data
(3) Interval data
(4) Ratio data

23. A graph of a cumulative frequency distribution is called :

(1) Frequency polygon
(2) Frequency curve
(3) Ogive
(4) Pie diagram

24. In the case of classification of data, the class having its upper limit is treated as the
lower limit of its next class is called :
(1) Open ended class
(3) Exclusive class
(2) Close ended class
(4) Inclusive class

25. For a standard normal probability distribution, the mean (µ) and the standard
deviation (σ) are :
(1) µ=0, σ= 1
(3) µ=25, σ=5
(2) µ=16, σ=4
(4) µ=100, σ=10

26. Match the items of List - II with the items of List - I and select the code of correct
matching.
List - I List - II
(a) Standard error of mean (i) Ha : µ1 ≠ µ2
(b) Base of point estimate of the mean of the (ii) Values based on all the observations of
population the population
(c) Non-specific hypothesis (iii) Mean of the sampling distribution of
mean
(d) Parameter value of descriptive statistics (iv) Standard deviation of the sampling
distribution of mean

Code :
(a) (b) (c) (d)
(1) (iv) (iii) (i) (ii)
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(2) (i) (ii) (iii) (iv)
(3) (iv) (iii) (ii) (i)
(4) (iii) (iv) (i) (ii)

27. There is a very high inverse relationship between measures of ‗Overweight‘ and ‗life
expectancy‘. Which one of the following value of the coefficient of correlation is consistent
with the statement ?
(1) 0.80
(2) 0.20
(3) −0.20
(4) −0.80
(4) Ratio data

28. Match the items of List - II with the items of List - I and select the code of correct
matching.
List - I List – II
(a) Chi-square Test (i) Testing the significance of the differences of the mean values
among more than two sample groups.
(b) ANOVA (F-test) (ii) Testing the goodness of fit of a distribution
(c) Z - test (iii) Testing the significance of the difference of the mean values
between two large sized samples
(d) t - test (iv) Testing the significance of the difference of the mean values
between two small sized samples when population standard
deviation is not available
Code :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (iv) (iii) (ii) (i)
(3) (i) (ii) (iv) (iii)
(4) (ii) (i) (iii) (iv)

29. Match the items of List - II with List - I and choose the correct code :
List - I List - II
(a) Sales Executive (i) Top- middle Management
(b) Branch Manager (ii) Middle Management
(c) Foreman (iii) Lower Management
(d) Production Manager (iv) Operating Force
Code :
(a) (b) (c) (d)
(1) (iv) (ii) (iii) (i)
(2) (ii) (iii) (iv) (i)
(3) (iii) (iv) (ii) (i)
(4) (i) (ii) (iii) (iv)

30. Select the correct code of the statements being correct or incorrect.
Statement (I) It is a significant feature of human that he plans.
Statement (II) : A plan is a trap to capture the future.
Code :

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(1) Statement (I) is correct but (II) is incorrect.
(2) Statement (II) is correct but (I) is incorrect.
(3) Both the statements (I) and (II) are correct.
(4) Both the statements (I) and (II) are incorrect.

31. Assertion (A) : Management is a set of principles relating to its functions.

Reasoning (R) : Management is essential to run all types of organizations.
Code :
(1) (A) and (R) both are correct ; and (R) is the right explanation of (A).
(2) (A) and (R) both are correct ; but (R) is not the right explanation (A).
(3) Both (A) and (R) are incorrect.
(4) (A) is correct ; but (R) is incorrect.

32. Match the items of List - II with List - I ; and choose the correct code :
List – I (Critical Control Standards) List – II (Critical Points)
(a) Physical standards (i) Material cost per unit
(b) Cost standards (ii) Labour hours per unit of output
(c) Revenue standards (iii) Timing of production
(d) Program standards (iv) Average sales per customer
Code :
(a) (b) (c) (d)
(1) (ii) (i) (iv) (iii)
(2) (ii) (i) (iii) (iv)
(3) (i) (ii) (iv) (iii)
(4) (iv) (i) (iii) (ii)

33. Which among the following is not a correct statement with regard to Corporate
Governance in India ?
(1) Every company must appoint an individual or firm as auditor.
(2) The independent directors must attend at least three meetings a year.
(3) One or more women directors are recommended for certain classes of companies.
(4) The maximum number of permissible directors cannot exceed 15 in a public limited
company.

34. The popular statement, - ―if all you have is a hammer, everything looks like a nail‖, is
given by :
(1) A.H. Maslow (Hierarchy of Needs)
(2) Henry Fayol (Industrial and General Administration)
(3) F.W. Taylor (Scientific Management)
(4) Fredrick Herzberg (Hygiene Theory)

35. Functional Leadership Theory is associated with :

(1) Hackman and Walton and McGrath
(2) Bernard and Ordway Tead
(3) Koontz and O‘Donnell
(4) Alford and Beatty

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36. When two separate companies or two divisions within the same company agree to
place both of their respective brands on a particular product or enterprise, this
arrangement is termed as :
(1) Differential Branding
(2) Cobranding
(3) Dual Branding
(4) Both Cobranding and Dual Branding

37. The tangible goods for which a consumer wants to compare quality, price and perhaps
style in several stores before making a purchase are called :
(1) Convenience Goods
(3) Speciality Goods
(2) Shopping Goods
(4) Unsought Goods

38. When a company treats each single customer as a separate segment, this is called :
(1) Niche Marketing
(2) Nano Marketing
(3) Single Marketing
(4) Micro Marketing

39. Under which of the following conditions, the level of consumer‘s involvement will not
be high ?
(1) The consumer considers the amount of money involved to be large.
(2) The product is seen as having low potential for providing significant benefits.
(3) The consumer lacks information about alternatives for satisfying the need.
(4) The product has considerable social importance.

40. Statement (I) : The mindset which is commonly associated with a long - ago era when
the demand for goods generally exceeded the supply, and the primary focus in business
was to effectively produce medium quantities of products ; finding the customers was
viewed as a relatively major function.
Statement (II) : The firms with product orientation typically focus on the quality and
quantity of offerings while assuming that customers will seek out and buy reasonably
priced, well made products. From the above statements indicate the correct code of being
statements correct or incorrect
The statements relate to concepts of marketing.
(1) Both the statements (I) and (II) are not correct.
(2) Both the statements (I) and (II) are correct.
(3) Statement (I) is correct but statement (II) is not correct.
(4) Statement (I) is not correct but statement (II) is correct.

41. Match the items of List - II with List - I to identify the correct code which are related to
legal forces affecting international marketers.
List - I List - II
(a) Tariff (i) A regulation specifying the proportion of a finished product‘s
components and labour that must be provided by importing
country.

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(b) Import Quota (ii) Tax imposed on product entering a country and used to
protect domestic producers and/or raise revenue.
(c) Local-content Law (iii) A requirement that a product contain or exclude certain
ingredients or that it be tested and certified as meeting certain
restrictive standards.
(d) Local-operating Law (iv) Limiting amount of a particular product that can be brought
into a country, to protect domestic industry or broadening
access to its markets.
(e) Standards and (v) A refusal to buy products from a particular company or
Certification Certification country.
(f) Boycott (vi) A constraint on how, when or where retailing can be
conducted.
Code :
(a) (b) (c) (d) (e) (f)
(1) (iii) (iv) (ii) (i) (vi) (v)
(2) (vi) (ii) (i) (iv) (iii) (v)
(3) (ii) (iv) (i) (vi) (iii) (v)
(4) (iv) (vi) (i) (ii) (iii) (v)

42. Match the items of List - II with List - I which are related to personal selling process
and identify the correct code :
List - I List - II
(a) Prospecting (i) Attention, Interest, Desire, Action
(b) Preapproach (ii) Identifying Profiles, leads, Records and Qualifying
capability and willingness
(c) Presentation (iii) Reduce Dissonance, Build goodwill
(d) Post sales services (iv) Information, habits, preferences
Code :
(a) (b) (c) (d)
(1) (i) (iii) (iv) (ii)
(2) (iii) (iv) (ii) (i)
(3) (ii) (iv) (i) (iii)
(4) (iv) (iii) (ii) (i)

43. Which of the following is not an approach to the Capital Structure ?

(1) Gross Profit Approach
(2) Net Operating Income Approach
(3) Net Income Approach
(4) Modigliani and Miller Approach

44. Which one of the following methods of Capital Budgeting assumes that cash-inflows
are reinvested at the project‘s rate of return ?
(1) Net Present Value
(2) Accounting Rate of Return
(3) Internal Rate of Return
(4) Discounted Pay Back Period

45. Cost of Equity Share Capital is more than cost of Debt because :
(1) Equity shares are not easily saleable.

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(2) Equity shares do not provide the fixed dividend rate.
(3) Generally the face value of equity shares is less than the face value of debentures.
(4) Equity shares have high risk than debts.

46. Negative Net Working Capital implies that :

(1) Long-term funds have been used for fixed assets.
(2) Short-term funds have been used for fixed assets.
(3) Long-term funds have been used for current assets.
(4) Short-term funds have been used for current assets.

47. Which of the following is an implicit cost of increasing proportion of debt of a company
?
(1) P.E. Ratio of the company would increase.
(2) Rate of return of the company would decrease.
(3) Tax-shield would not be available on new debts.
(4) Equity shareholders would demand higher return.

48. Profitability Index of a Project is the ratio of present value of cash inflows to :
(1) Total cash inflows
(2) Total cash outflows
(3) Present value of cash outflows
(4) Initial cost minus Depreciation

49. Which one of the following statements is false ?

(1) Effective dividend policy is an important tool to achieve the goal of wealth
maximisation.
(2) According to Walter, the optimal payout ratio for a growth firm is 100%.
(3) MM model asserts that the value of the firm is not affected whether the firm pays
dividend or not.
(4) ‗Bird-in-the-hand theory‘ in reference to dividend decision has been developed by
Myron Gordon.

50. Which one of the following statements defines the correct meaning of the term
―boundary spanning‖ ?
(1) It refers to an obligation of an individual, firm or institution to account for its activities
and accept responsibility for them.
(2) It refers to the process that helps the organization and its employees to link with their
external environment through specific activities/functions.
(3) It refers to the science of morals, principles and rules of conduct.
(4) It refers to multiculturism management.

51. The VRIO framework, used in HR function in today‘s era, refers to four criteria.
Identify the
correct code which stands as correct explanation to VRIO as proposed by Barney.
(1) Valence - Recruiting - Industrial relations - Opportunities
(2) Vision - Rewards - Improvements - Options
(3) Value - Rarity - Imitability - Organization
(4) Versatile - Resource - Information - Outsourcing

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52. Assertion (A) : Induction is an informal information sharing session on miscellaneous

issues in an organization.
Reasoning (R) : The rationale of induction is to ensure effective integration of staff into or
across the organization for their mutual benefit.
Code :
(1) Assertion (A) and Reasoning (R) both are correct and (R) is correct explanation of (A).
(2) Assertion (A) and Reasoning (R) both are correct but (R) is not the correct explanation
of (A).
(3) Assertion (A) is correct statement but Reasoning (R) is an incorrect statement.
(4) Assertion (A) is an incorrect statement but Reasoning (R) is a correct statement.

53. Match the items of List - II with the items of List - I pertaining to the ranking methods
used in performance management systems ; and select the code of correct matching.
List – I (Ranking methods) List – II (Methodology)
(a) Simple ranking (i) Based on overall performance.
(b) Alternation ranking (ii) Ends up with predetermined number of people in each
group.
(c) Paired comparison (iii) Based on particular trait only for quantity/quality of
work.
(d) Forced distribution (iv) Based on a trait or a set of trait and avoids central
tendency.
Code :
(a) (b) (c) (d)
(1) (ii) (iii) (iv) (i)
(2) (i) (iv) (iii) (ii)
(3) (iv) (ii) (i) (iii)
(4) (iii) (i) (ii) (iv)

54. Assertion (A) : Compensation has two vital domains economic concept and
psychological concept.
Reasoning (R) : Compensation basically represents an employment contract.
Code :
(1) (A) is correct and (R) is right explanation of (A).
(2) (A) is correct but (R) is not the right explanation of (A).
(3) (A) is correct but (R) is incorrect.
(4) (A) is incorrect but (R) is correct.

55. Which of the following is not the primary objective of industrial relations and labour
laws ?
(1) Maintaining social equity
(2) Providing credit facilities to industries
(3) International uniformity
(4) Promoting economic growth

56. Assertion (A) : In real terms, workers‘ participation in management has failed in India.
Reasoning (R) : There is lack of attitudinal change, multiplicity of unions and absence of a
procedure to determine a sole bargaining agent in an organization.
Code :
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(1) (A) is correct and (R) is correct explanation of (A).
(2) (A) is correct but (R) is not the correct explanation of (A).
(3) (A) is correct but (R) is incorrect.
(4) (A) is incorrect but (R) is correct.

57. Which one of the following is not the function of NABARD ?

(1) To provide refinance assistance by way of short term credit to state cooperative banks
and sectoral rural banks, etc., approved by the RBI for some specific purposes.
(2) To undertake inspection of cooperative societies other than primary cooperative
societies and RRBs.
(3) To promote research in various aspects of the problems of urban development.
(4) To subscribe to share capital or invest in securities of any institution concerned with
agricultural and rural development.

58. Which one of the following financial institutions co-ordinates the functions and
operations of all the financial institutions into a single integrated financial structure so
that each may contribute to the growth of the economy ?
(1) IFCI
(2) UTI
(3) IDBI
(4) SIDBI

59. Assertion (A) : The Reserve Bank of India is entrusted with the management of the
public debt and issue of new loans and treasury bills on behalf of the central and state
Governments.
Reasoning (R) : The Governor and the Deputy Governors of Reserve Bank of India are
appointed by the Central Government.
Code :
(1) (A) is correct but (R) is not correct.
(2) (A) and (R) both are correct but (R) is not the right explanation of (A).
(3) (A) and (R) both are correct and (R) is the right explanation of (A).
(4) (A) and (R) both are not correct.

60. ____ refers to the process of removing or stripping the legal status of a currency.
(1) Digitisation
(2) Financial Inclusion
(3) Demonetisation
(4) Micro finance

61. Which one of the following is not the objective of UTI ?

(1) To mobilise savings of the community by offering savers the triple benefits of safety,
liquidity and profitability of Investments.
(2) To channelise the pooled savings into productive outlets.
(3) To provide finance under hire purchase finance and housing finance to its members.
(4) To give every one a chance to indirectly own shares and securities in a large number of
select companies.

62. Which one of the following is the main objective of IFCI ?

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(1) To offer both small and large investors the means of acquiring shares in the widening
prosperity resulting from the steady industrial growth of the country.
(2) To upgrade technology, modernization and to promote marketing of products of small
scale sector.
(3) To serve as the apex institution for term finance for industry with coordination,
regulation and supervision of the working of other financial institution.
(4) To provide medium and long term financial assistance to industrial undertakings,
particularly in those circumstances in which banking accommodation is in appropriate or
resource to capital market is impracticable.

63. Match the items of List - II with the items of List - I and indicate the correct code :
List - I List - II
(a) Term finance (i) Providing finance to new or existing industrial units for
encouraging commercial application of technology/ expansion.
(b) Refinance (ii) Delivering of banking services at affordable cost to the vast
sections of disadvantaged and low income groups.
(c) Financial (iii) Providing replenishment finance to eligible institutions for their
inclusion loans to industrial concerns.
(d) Venture capital (iv) Providing finance to the borrowers for expansion and
modernization of plant and equipment.
Code :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (i) (ii) (iv) (iii)
(3) (iv) (iii) (ii) (i)
(4) (iv) (iii) (i) (ii)

64. Assertion (A) : An export processing zone is different from free trade zone as it
promotes units primarily devoted to exports.
Reasoning (R) : Goods imported to a free trade zone may be re-exported without any
processing, in the same form. But, goods exported by units in an EPZ are expected to
have undergone some value addition by manufacturing/ processing.
Code :
(1) (A) is correct and (R) is correct explanation of (A).
(2) (A) is correct but (R) is not the correct explanation of (A).
(3) (A) is correct but (R) is incorrect.
(4) (A) is incorrect but (R) is correct.

65. Match the items of List - II with the items of List - I relating to liberalisation of
agricultural trade.
List - I List - II
(a) Tariffication (i) They have demonstrably adverse effects on other
member countries.
(b) Prohibited subsidies (ii) They act on goods which are contingent upon export
performance.
(c) Actionable subsidies (iii) Replacement of existing non-tariff restrictions.
(d) Non-actionable subsidies (iv) For industrial research in disadvantaged regions.
Code :
(a) (b) (c) (d)

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(1) (ii) (iii) (i) (iv)
(2) (iv) (i) (ii) (iii)
(3) (iii) (ii) (i) (iv)
(4) (ii) (iv) (iii) (i)

66. Match the items of List - II and with the items of List - I relating to WTO impact :
List - I List – II
(a) NAMA (i) Liberalisation of international investments.
(b) GATTS (ii) Includes industrial goods, textile, jewellery, fish and fisheries product
manufacturing industries.
(c) TRIMs (iii) Liberalisation of trade in goods and services.
(d) TRIPs (iv) Provides monopoly power to owners of intellectual property.
Code :
(a) (b) (c) (d)
(1) (ii) (i) (iv) (iii)
(2) (iv) (ii) (iii) (i)
(3) (ii) (iii) (i) (iv)
(4) (iii) (ii) (iv) (i)

67. Indicate the correct code of the following statements being correct or incorrect. The
statements relate to the type of transactions recorded in the current/capital accounts of
the Balance of Payments.
Statement (I) : The capital account consists of long-term capital transactions only.
Statement (II) : The current account includes all transactions which give rise to or use up
national income.
Code :
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement (I) is correct while Statement (II) is incorrect.
(4) Statement (I) is incorrect while Statement (II) is correct.

68. Select the correct code of the following statements being correct or incorrect.
Statement (I) : International liquidity encompasses the international reserves only.
Statement (II) : International liquidity covers only official holdings of gold, foreign
exchange, SDRs and reserve position in the IMF available for the settlement of the
international transactions.
Code :
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement (I) is correct while Statement (II) is incorrect.
(4) Statement (I) is incorrect while Statement (II) is correct.

69. Match the items of List - II with the items of List - I and select the code of correct
matching. The items relate to International Trade Theories.
List - I List - II
(a) Comparative Cost Theory (i) Adam Smith
(b) Opportunity Cost Theory (ii) Gottfried Haberler
(c) Factor Endowment Theory (iii) David Ricardo

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(d) Absolute Cost Theory (iv) Eli Heckscher and Bertil Ohlin
Code :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (iii) (ii) (iv) (i)
(3) (iv) (iii) (ii) (i)
(4) (i) (iv) (iii) (ii)

70. Which one of the following is not the guiding principle of the World Bank regarding it‘s
lending operations ?
(1) Proper assessment of the repayment prospects of loans.
(2) Lending should be only for specific projects which are economically and technically
sound and of a high priority nature.
(3) The lending should be to enable a country to meet foreign exchange content of the
project cost.
(4) The bank does expect the borrowing country to spend the loan in a particular country.

71. Total return on a security is equal to the following :

periodic cash receipts +capital gains
(1) 𝑝𝑢𝑟𝑐 ℎ𝑎𝑠𝑒 𝑝𝑟𝑖𝑐𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦
periodic cash receipt s+capital gains
(2) 𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑚𝑎𝑟𝑘𝑒𝑡 𝑝𝑟𝑖𝑐𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦
periodic cash receipts
(3) 𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑚𝑎𝑟𝑘𝑒𝑡 𝑝𝑟𝑖𝑐𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦
periodic cash receipts −capital gains
(4) 𝑝𝑢𝑟𝑐 ℎ𝑎𝑠𝑒 𝑝𝑟𝑖𝑐𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦

72. Risk of a portfolio can be minimised by which one of the following ?

(1) Combining two securities having perfect positive correlation in their expected returns.
(2) Combining two securities having perfect negative correlation in their expected returns.
(3) Combining two securities having partially positive correlation in their expected returns.
(4) Combining two securities having partially negative correlation in their expected
returns.

73. The certificate which evidences an unsecured corporate debt of short-term maturity, is
known as :
(1) Certificate of Deposit
(3) Treasury Bill
(2) Short-term loan certificate
(4) Commercial paper

74. Which of the following statements are false ? Indicate the correct code.
(a) Grey market is a market for dealing in listed securities.
(b) OTCEI is mainly intended for big investors.
(c) Insider Trading is legally permitted in the capital market.
(d) The device adopted to make profit out of the differences in prices of a security in two
different markets is called ‗arbitrage‘.
Code :
(1) (a), (b), (c)
(2) (a), (b), (d)

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(3) (a), (b), (c), (d)
(4) (b), (c), (d)

75. Which of the following statements are false ? Indicate the correct code.
(a) Share capital issued by a company for the first time is known as venture capital.
(b) All Venture Capital Funds in India are promoted by the Government.
(c) In addition to capital, venture capitalists provide managerial and technical support
also to the assisted firms.
(d) Benefits from venture capital financing can be realised in long run only.
Code :
(1) (a), (b) and (d)
(2) (a) and (b)
(3) (b), (c) and (d)
(4) (c) and (d)

76. Match the items of List - II with the items of List - I and select the correct code :
List - I List – II
(a) Liquidity Risk (i) Risk related to purchasing power of
Income.
(b) Business Risk (ii) Risk related to Firm‘s capital structure.
(c) Financial Risk (iii) Risk related to inability to pay its dues
on time.
(d) Inflation Risk (iv) Risk related to fluctuation in profits.
Code :
(a) (b) (c) (d)
(1) (ii) (iii) (iv) (i)
(2) (i) (iv) (iii) (ii)
(3) (iii) (ii) (iv) (i)
(4) (iii) (iv) (ii) (i)

77. Statement (I) : Designing a distribution system for a service (for-profit or non-business
context) involves to select the parties only through which ownership will
pass.
Statement (II) : The ownership channel for most of the services is long and quite complex
because of inseparability characteristic.
Statement (III) : Short channels usually mean more control on the part of the seller.
Identify the correct code of being the statements correct or incorrect. These statements
relate to channel strategies of products/services.
(1) Statements (I) and (II) are correct but (III) is not correct.
(2) Statements (I) and (III) are correct but (II) is not correct.
(3) Statements (I) and (II) are not correct but (III) is correct.
(4) Statements (I), (II) and (III) all are not correct.

78. An enormous collection of data on various topics from a variety of internal and
external sources, compiled by a firm for its own use or for use by its clients, is called :
(1) Data-base
(3) Data mining
(2) Data warehouse

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(4) M.I.S.

79. Statement (I) : A form of non-store retailing that uses advertising to contact
consumers who, in turn, purchase products without visiting a retail store is called Direct
selling.
Statement (II) : A form of non-store retailing in which personal contact between a sales
person and a consumer occurs away from a retail store is called Direct
Marketing.
In the light of above statements, identify the correct code of statements being correct or
incorrect.
(1) Statement (I) is correct but Statement (II) is not correct.
(2) Statement (I) is not correct but Statement (II) is correct.
(3) Both the statements are correct.
(4) Both the statements are not correct.

80. 34% of the customers who fall in one of the categories of diffusion process who are
deliberate customers to accept an innovation just before the average adopter in a social
system. Such customers who are above average in social and economic measures, rely
quite a bit on advertisements and salesmen are known as :
(1) Early Adopters
(2) Early Majority
(3) Late Majority
(4) Late Adopters

81. The G. E. Business Model is explained on which one of the following parameters ?
(1) Market Attractiveness and Business Position.
(2) Business Attractiveness and Market Position.
(3) Industry Growth rate and Company‘s Market share.
(4) Company‘s Growth rate and Industry‘s Position.

82. A reduction from the list price that is offered by a seller to buyers in payment for
marketing functions the buyers will perform is known as :
(1) Trade Discount
(3) Cash Discount
(2) Functional Discount
(4) Both Trade and Functional Discount

83. Match the items of List - II with the items of List - I relating to Personnel Management
(PM) and Human Resource Management (HRM) ; and select the code of correct matching.
List - I List - II
(a) Focus of PM (i) Development attitude by making people
contribute their best.
(b) Focus of HRM (ii) Exercising it as a functional area of
management.
(c) Philosophy of PM (iii) Exercising it as humane management.
(d) Philosophy of HRM (iv) Profit maximization by controlling
people.
Code :
(a) (b) (c) (d)
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(1) (ii) (iii) (iv) (i)
(2) (iii) (ii) (i) (iv)
(3) (iv) (i) (ii) (iii)
(4) (i) (iii) (iv) (ii)

84. Select the correct code of the following statements being correct or incorrect.
I Strategic HRM focuses on specific organizational intentions about what needs to be done
while HR strategies focus on long-term issues only.
II Strategic HRM focuses on macro concerns such as structure and culture while HR
strategy focuses on specific issues assigned.
III Human Resource strategy decisions are derived from strategic HRM.
Code :
(1) Statements I and II are correct while III is incorrect.
(2) Statements II and III are correct while I is incorrect.
(3) Statements I and III are correct while II is incorrect.
(4) All the statements are correct.

85. Which of the following code represents the full form of the term ―BARS‖ in
performance management systems ?
(1) Business Appraisal and Rating Systems.
(2) Balanced Assessment Reviewing Scorecard.
(3) Behaviourally Anchored Rating Scale.
(4) Benchmarking Appraisal Reviewing Strategy.

86. Match the items of List - II with the items of List - I relating to training, and select the
code of correct matching.
List - I List - II
(a) Andragogy (i) Strategies or styles of instructions
(b) Pedagogy (ii) Ultimate knowledge level with which
trainee leaves the training sessions
(c) Terminal behaviour (iii) Lack of commitment of management
and scarcity of resources in training
(d) Training impediments (iv) Art and Science of training the adults
Code :
(a) (b) (c) (d)
(1) (i) (iv) (iii) (ii)
(2) (ii) (iii) (i) (iv)
(3) (iv) (i) (ii) (iii)
(4) (iii) (ii) (iv) (i)

87. Which of the following statements does not stand as a principle of compensation
administration ?
(1) An enterprise should have a clear -cut plan to determine differential pay level in terms
of divergent job requirements.
(2) People and jobs should never be mingled.
(3) The compensation system should be designed with subjectivity with respect to
individual skill sets exercised from time to time.
(4) There should be established wage grievance handling procedures.

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88. Match the items of List - II with the items of List - I relating to industrial relations and
select the code of correct matching.
List - I List - II
(a) Healthy labour–management relations (i) Industrial Disputes Act
(b) Industrial Peace Law (ii) Guiding principles for a grievance
procedure
(c) Industrial Democracy (iii) Workers‘ participation in management
(d) National Commission on Labour, 1969 (iv) Voluntary arbitration and responsible
trade union
Code :
(a) (b) (c) (d)
(1) (iv) (i) (iii) (ii)
(2) (ii) (iii) (iv) (i)
(3) (iii) (i) (iv) (ii)
(4) (ii) (iv) (i) (iii)

89. In recent years which among the following countries has been the largest source of
foreign investment in India ?
(1) Australia
(2) Japan
(3) China
(4) Mauritius
90. Assertion (A) : The Government of India has been opening up domestic market to
foreign players in baby steps.
Reasoning (R) : Allowing foreign firms free play in India‘s retail sector has always been a
political hot potato.
Code :
(1) (A) and (R) both are correct ; and (R) is the right explanation of (A).
(2) (A) and (R) both are correct ; but (R) is not the right explanation of (A).
(3) (A) and (R) both are incorrect.
(4) (A) is correct ; but (R) is incorrect.

91. Select the correct code of the following statements being correct or incorrect.
Statement (I) : A Global Depositary Receipt (GDR) is a bank certificate issued in more than
one country for shares in a foreign company.
Statement (II) : A GDR is very similar to American Depositary Receipt (ADR)
Statement (III) : GDRs are called EDRs when private markets are attempting to obtain
Euros.
Code :
(1) Statements (I), (II) and (III) are correct.
(2) Statements (I) and (II) are correct but (III) is incorrect.
(3) Statements (I) and (III) are correct but (II) is incorrect.
(4) Statements (II) and (III) are correct but (I) is incorrect.

92. In December 1999, European commission members signed a treaty that committed
them to adopting a common currency known as Euro. This is better known as :
(1) Treaty of Rome

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(3) Treaty of Lisbon
(2) Treaty of Maastricht
(4) Treaty of London

93. Select the correct code of the following statements being correct or incorrect.
Statement (I) : The ‗law of one price‘ states that in competitive markets free of
transportation costs and barriers to trade, identical products sold in different countries
must sell for the same price when their price is expressed in terms of the same currency.
Statement (II) : An ‗Efficient market‘ has no impediments to the free flow of goods and
services, such as trade barriers.
Code :
(1) Statement (I) is correct but (II) is incorrect.
(2) Statement (II) is correct but (I) is incorrect.
(3) Both statements (I) and (II) are correct.
(4) Both statements (I) and (II) are incorrect.

94. Which among the following is not a correct statement regarding patent ?
(1) A patent is a legal protection granted for an invention that is new, non-obvious and
useful.
(2) The patent grants the patent holder the exclusive right to make use or sell the
patented products or process.
(3) The exclusive purpose of the patent system is to benefit the patent holder.
(4) The Indian Patent Act, 1970, was amended and made effective from January 1, 2005.

95. Which one of the following is agricultural income under the Income Tax Act, 1961 ?
(1) Interest on arrears of rent in respect of agricultural land.
(2) Interest received by a money-lender in the form of agricultural produce.
(3) Income from sale of trees of forest which are of spontaneous growth and in relation to
which forestry operations alone are performed.
(4) Interest on capital received by a partner from the firm engaged in agricultural
operations.

96. Under the Income Tax Act, 1961 ―block of assets‖ for the purpose of charging
depreciation means :
(1) Value of all the assets after depreciation
(2) Value of all tangible assets after charging depreciation
(3) Value of all those assets to which one rate of depreciation is applicable
(4) Gross value of machinery and plant less accumulated depreciation

97. The maximum amount of exemption of compensation received at the time of voluntary
retirement U/S 10(10C) of the Income Tax Act, 1961, is :
(1) ₹ 1,00,000
(2) ₹ 2,50,000
(3) ₹ 5,00,000
(4) ₹ 10,00,000

98. Which one of the following statements is not correct with reference to the assessment
of firms ?

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(1) All partnership firms formed under the Indian Partnership Act, 1932, are assessed as
firms under the Income Tax Act, 1961.
(2) Income of a firm is taxable at a flat rate of 30% without any exemption. (3) Partners‘
share in the income of a firm is not chargeable to tax in the hands of partners.
(4) Remuneration paid to partners of a firm (assessed as such) is allowed as deduction
subject to statutory limit.

99. The due date of first instalment of advance tax by assessees other than companies is :
(1) 15th April
(2) 15th June
(3) 15th September
(4) 15th December

100. Which one of the following items is not allowed as deduction while computing income
from business and profession ?
(1) Fees paid to the lawyer for drafting partnership deed
(2) Loss due to embezzlement by an employee
(3) Legal expenses paid to protect the building of the business
(4) Cost of installing a new telephone

ANSWERS
1 2 21 4 41 3 61 3 81 1
2 2 22 1 42 3 62 4 82 4
3 4 23 3 43 1 63 3 83 3
4 3 24 3 44 3 64 1 84 2
5 1 25 1 45 4 65 3 85 3
6 2 26 1 46 2 66 4 86 3
7 1 27 1 47 4 67 4 87 3
8 1 28 4 48 3 68 4 88 1
9 4 29 1 49 2 69 2 89 4
10 1 30 3 50 2 70 4 90 1
11 3 31 2 51 3 71 1 91 1
12 3 32 1 52 4 72 2 92 2
13 4 33 2 53 2 73 4 93 3
14 3 34 1 54 2 74 1 94 3
15 1 35 1 55 2 75 2 95 4
16 2 36 4 56 1 76 4 96 3
17 2 37 2 57 3 77 3 97 3
18 2 38 4 58 3 78 2 98 1
19 3 39 4 59 2 79 4 99 2
20 2 40 4 60 3 80 2 100 1

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UGC NET PYQ COMMERCE 2017 NOVEMBER

PAPER - II
1. From the following statements of Assertion (A) and Reasoning (R), indicate the correct
code :
Assertion (A) : Industrial liberalisation became an imperative condition for the growth of
forces of competition leading to high efficiency and productivity in Indian industries.
Reasoning (R) : Industrial development and curbing of poverty is only possible through
government intervention.
Code :
(1) (A) and (R) both are not correct.
(2) (A) is correct but (R) is not the correct explanation of (A).
(3) (A) is correct and (R) is correct explanation of (A).
(4) (A) is not correct but (R) is correct.

2. Which of the following statements are not correct ?

Statement (I) Sustainable development means an attempt to achieve the balance between
economic growth and conservation / protection of environment.
Statement (II) : Sustainable development means meeting the needs of industries without
compromising the needs of import - export balancing.
Statement (III) : Sustainable development means creation of sufficient surplus budgets
through stock of capital assets including land.
Code :
(1) Statements (I) and (III)
(2) Statements (II) and (III)
(3) Statements (I) and (II)
(4) Statements (I), (II) and (III)

3. Match items of List - I with List - II relating to macro environment of business and
indicate the code of correct matching :
List - I List - II
(a) Economic environment (i) Ethical issues
(b) Political and government environment (ii) Trade and transport policies
(c) Socio - cultural environment (iii) Economic stratification of population
(d) Demographic environment (iv) Judiciary powers
Code :
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)
(2) (i) (iii) (ii) (iv)
(3) (iv) (ii) (iii) (i)
(4) (iii) (i) (iv) (ii)

4. For which one of the basic reasons, the ―Structural Adjustment Programme‖ was
undertaken in India in 1991 ?
(1) Curbing competition among private sector
(2) Establishing predominant role of public sector

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(3) Establishing a free market economy
(4) Regional balancing through planning and licensing

5. Match the items of List - I with List - II and indicate the correct code of matching :
List - I List – II
(a) Micro external environment (i) Economic and political factors
(b) Macro external environment (ii) Competition among diverse products
targetting disposable income of consumers
(c) Non - price competition (iii) Input suppliers
(d) Desire competition (iv) Sponsoring of events like sports
Code :
(a) (b) (c) (d)
(1) (iii) (i) (iv) (ii)
(2) (ii) (iii) (iv) (i)
(3) (iv) (ii) (iii) (i)
(4) (iv) (i) (ii) (iii)

6. Assertion (A) : Debt - equity ratio indicates the long term solvency of a company.
Reasoning (R) : It measures the ability of the company to pay off its long term liabilities.
Select the correct answer from the code given below :
(1) Both (A) and (R) are correct and (R) is the correct reason for (A).
(2) Both (A) and (R) are correct but (R) does not explain (A) correctly.
(3) (A) is correct but (R) is wrong.
(4) (A) is wrong but (R) is correct.

7. The balance of property at cost has been ₹ 20,000 and ₹ 17,000 in 2015 and 2016,
respectively.
The profit on the sale of property of ₹ 2,000 is credited to Capital Reserve Account. New
property costing ₹ 5,000 was bought in 2016. Determine the sale proceeds from property.
(1) ₹ 3,000
(2) ₹ 7,000
(3) ₹ 10,000
(4) ₹ 15,000

8. Goodwill of a firm of X and Y is valued at ₹ 30,000. It is appearing in the books at ₹

12,000. Z is admitted for 1/4 share. What amount he is supposed to bring for goodwill ?
(1) ₹ 3,000
(2) ₹ 4,500
(3) ₹ 7,500
(4) ₹ 10,500

9. A Ltd. issued a prospectus inviting applications for 2,000 shares. Applications were
received for 3,000 shares and pro-rata allotment was made on the applications of 2,400
shares. If A has been allotted 40 shares, how many shares he must have applied for ?
(1) 40
(2) 44
(3) 48
(4) 52

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10. Which one of the following receipts is of revenue nature ?

(1) Amount realised from the sale of investments
(2) Dividend received on investment
(3) Amount borrowed from a bank
(4) Compensation received from municipal corporation for the acquisition of land for the
construction of road.

11. Statement (I) : Business decision makers deal with the complex, rather chaotic,
business conditions of the real world and have to find the way to their destination, i.e,
achieving the goal that they set for themselves
Statement (II) : Even without application of economic logic and tools of analysis, business
decisions are always rational and real and are not counter productive.
Code :
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement (I) is correct while statement (II) is incorrect.
(4) Statement (I) is incorrect while statement (II) is correct.

12. Which one of the following statements is true ?

(1) Pure profit is the return in excess of the opportunity cost
(2) Accounting profit is the excess of total revenue over and above the explicit and implicit
costs
(3) Profit maximization is the sole objective of the modern firms
(4) Profit is maximum when the difference between marginal revenue and marginal cost
is maximum

13. Which one of the following is not the assumption on which the theory of consumer
behaviour is based on the cardinal utility approach ?
(1) Rationality
(2) Constant marginal utility from successive units
(3) Constant marginal utility of money
(4) Utility is measurable

14. Statement (I) : Point price elasticity of demand in terms of marginal and average
𝐴𝑅
revenues can be measured with the following formula :
𝐴𝑅−𝑀𝑅
Statement (II) : The point price elasticity of demand is the product of the slope of the
demand function and the ratio between corresponding price and quantity.
Code :
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement (I) is correct while statement (II) is incorrect.
(4) Statement (I) is incorrect while statement (II) is correct.

15. Which one of the following is not the basic property of indifference curves ?
(1) Negative slope
(2) Indifference curves of two imperfect substitutes are concave to the point of origin
(3) The indifference curves do not intersect nor are they tangent to one another

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(4) Upper indifference curves indicate a higher levels of satisfaction

16. The scale of measurement which has no order, distance and unique origin is known
as which one of the following ?
(1) Nominal scale
(2) Ordinal scale
(3) Interval scale
(4) Ratio scale

17. The formula to determine the number of classes given by Sturge‘s Rule is which one of
the following ?

Where : K = Number of classes

N = Total number of observations
(log N) = Logarithm of the total number of observations

18. Which one of the following is not the characteristics of normal distribution ?
(1) Bell - shaped and symmetric
(2) Mean, Median and Mode of the distribution are equal
(3) The total area under the curve for the normal probability distribution is one
(4) The two tails of the distribution in both the directions touches the horizontal axis

19. Assertion (A) : A reasonably sized sample drawn randomly from large sized population
contains almost all the characteristics which exist in the population.
Reasoning (R) : The theory of sampling is based on the two important laws of statistics,
viz., Law of statistical Regularity and law of inertia of large numbers.
Code :
(1) Both (A) and (R) are correct and (R) is the complete explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the complete explanation of (A).
(3) (A) is not correct while (R) is correct.
(4) Both (A) and (R) are not correct.

20. Statement (I) : If the alternative hypothesis is as Ha : µ µ0 ; a researcher requires two -

tailed test in hypothesis - testing.
Statement (II) : The mean of the sampling distribution of mean is not equal to the
parametric value of mean.
Code :
(1) Both the statements are true.
(2) Both the statements are false.
(3) Statement (I) is true, while statement (II) is false.
(4) Statement (I) is false, while statement (II) is true.

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21. Match the items of List - I with List - II ; and choose the correct code of combination :
List – I List – II
(a) The Fundamentals of Top Management (i) Peter F. Drucker
(b) Middle Management (ii) R.C. Davis
(c) The Essence of Management (iii) E.L.F. Brech
(d) Principles and Practice of Management (iv) Mary Caushing Nile
Code :
(a) (b) (c) (d)
(1) (ii) (iv) (iii) (i)
(2) (ii) (iv) (i) (iii)
(3) (ii) (iii) (i) (iv)
(4) (iii) (iv) (i) (ii)

22. Statement (I) : Management is not just a creature of the economy; it is a creator as
well.
Statement (II) : He who can manage, can manage anything.
Code :
(1) Statement (I) is correct but (II) is incorrect.
(2) Statement (II) is correct but (I) is incorrect.
(3) Both the statements (I) and (II) are incorrect.
(4) Both the statements (I) and (II) are correct.

23. Assertion (A) : Due to these experiments (Time, Motion and Fatigue Studies ) a factory
does not remain a factory, it is converted into a laboratory.
Reasoning (R) : Management succeeds or fails as human relations in business are
intelligently or unintelligently handled.
Code :
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(3) (A) is correct but (R) is not correct.
(4) (R) is correct but (A) is not correct.

24. Who among the following is not associated with theories of motivation ?
(1) A.H. Maslow
(2) Cris Argyris
(3) Frederick Herzberg
(4) Peter F. Drucker

25. As per the Herzberg‘s Hygiene Theory of motivation, which among the following is not
a motivational factor ?
(1) Recognition
(2) Working Conditions
(3) Responsibility
(4) Achievements

26. When Walt Disney World‘s Magic kingdom lets customers visit a fairy kingdom, a
pirate ship, or a haunted house, then what is marketed in this example ?

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(1) Services
(2) Events
(3) Experiences
(4) Ideas

27. Which one of the following statements is true according to VALS framework of
psychographic segmentation ?
(1) The consumers who are primarily motivated by ideals are guided by knowledge and
principles.
(2) The consumers who are motivated by achievement look for knowledge and principles.
(3) The consumers who are motivated by self expression don‘t desire social or physical
activity, variety, and risk.
(4) The consumers who are motivated by achievement desire social or physical activity,
variety, and risk.

28. From the following two statements of Assertion (A) and Reason (R), indicate the correct
code :
Assertion (A) : A transformational appeal of communication elaborates on a non-product
related benefit or image.
Reasoning (R) : Transformational appeals often do not attempt to stir up emotions that
will motivate purchase.
Code :
(1) (A) and (R) both are correct.
(3) (A) is not correct (R) is correct.
(2) (A) is correct (R) is not correct.
(4) (A) and (R) both are incorrect.

29. Select the correct sequence for Hierarchy-of-effects model related to marketing
communication :
(1) Awareness→ Knowledge → Liking → Preference→ Conviction → Purchase
(2) Knowledge → Awareness → Liking → Conviction → Preference → Purchase
(3) Awareness → Liking → Knowledge → Conviction → Preference → Purchase
(4) Liking → Awareness → Knowledge → Preference → Conviction → Purchase

30. Match the items of List - I with the items of List - II and denote the code of correct
matching :
List - I List - II
(a) Basic Product (i) Set of attributes and conditions buyers normally expect
(b) Expected Product (ii) Possible augmentation and transformation the product
might undergo in future
(c) Augmented Product (iii) Exceed customer expectations
(d) Potential Product (iv) Converting core benefits into product
Code :
(a) (b) (c) (d)
(1) (iii) (iv) (i) (ii)
(2) (i) (iii) (iv) (ii)
(3) (i) (iv) (iii) (ii)
(4) (iv) (i) (iii) (ii)

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31. Which of the following statements is false ?

(1) The opportunity cost of an input is considered in capital budgeting
(2) Capital budgeting decisions are reversible in nature
(3) Cash flows and accounting profits are different
(4) An expansion decision is a capital budgeting decision

32. Match the items of List - I with those of List - II and indicate the correct code :
List - I List - II
(a) ABC Analysis (i) Dividend Decision
(b) Walter Model (ii) Capital Budgeting Decision
(c) Capital Rationing (iii) Capital Structure Decision
(d) Net Operating Income Approach (iv) Working Capital Management Decision
Code :
(a) (b) (c) (d)
(1) (i) (iii) (ii) (iv)
(2) (ii) (i) (iii) (iv)
(3) (iv) (i) (ii) (iii)
(4) (iii) (i) (ii) (iv)

33. Main objective of employing Financial Leverage is to :

(1) Reduce the risk associated with profits
(2) Maintain the stability in profits
(3) Decrease the cost of debt capital
(4) Magnify the return on equity share capital

34. Which one of the following is not a method of calculating cost of equity capital ?
(1) Dividend yield method
(2) Dividend yield plus growth method
(3) Yield to maturity method
(4) Earnings yield method

35. Which one of the following equates the present value of cash out flows and the present
value of expected cash inflows from a project ?
(1) Net Present Value
(2) Internal Rate of Return
(3) Pay back Period
(4) Accounting Rate of Return

36. Which one of the following is not true ?

(1) Material resources are subject to laws of mechanics and they cannot have an output
greater than the input.
(2) Human resources are capable of exponential growth and development.
(3) Human resources cannot yield an output that may be far greater than what the value
of their input warrants.
(4) In current scenario, gradually, the emphasis has shifted from muscle power to use of
mind power.

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37. The pluralistic approach of industrial conflict is based on which one of the following
basic assumption / premise ?
(1) That conflict occurs when the tendency of industrial society is to treat worker as an
isolated individual and deprive him of all control over his environment
(2) That an enterprise contain people with coalition of different interests
(3) That industrial conflict is a part of the broader social conflict between classes
(4) That no consensus is possible, in case of conflicts, because people are with different
socio - cultural backgrounds.

38. The Job Description Index (JDI) Technique is used for measuring which one of the
following ?
(1) Job attitudes
(2) Job descriptions/definitions
(3) Job analysis records
(4) Job skill requirements

39. From the following two statements of Assertion (A) and Reasoning (R) indicate the
correct
code :
Assertion (A) : Development in HRM is a short-term educational process with temporary
intervention.
Reasoning (R) : It is a educational process utilizing a systematic and organized procedure
for development of operative employees performance in current jobs.
Code :
(1) (A) is correct and (R) is correct explanation of (A).
(2) (A) is correct, but (R) is not correct explanation of (A).
(3) (A) is not correct, but (R) is correct.
(4) (A) and (R) both are not correct.

40. Match items of List - I with List - II relating to methods of performance appraisal and
indicate the correct code of matching.
List - I List - II
(a) Paired comparison method (i) Reviewing employee records and holding
interview on definite test questions.
(b) Forced choice description method (ii) Set of pair phrases or descriptive statements
(c) Critical Incidents method (iii) Differentiating between effective and non -
effective performance on basis of achievements
(d) Field review method (iv) Relative ranking method
Code :
(a) (b) (c) (d)
(1) (iv) (ii) (iii) (i)
(2) (ii) (iii) (iv) (i)
(3) (iii) (i) (iv) (ii)
(4) (ii) (iv) (i) (iii)

41. Match the following items of List - I with the items of List - II and indicate the code of
correct matching :
List – I (Name of organisation) List – II (Year of establishment)

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(a) IDBI (i) 1956
(b) ICICI (ii) 1955
(c) LIC of India (iii) 1990
(d) SIDBI (iv) 1964
Code :
(a) (b) (c) (d)
(1) (iii) (i) (ii) (iv)
(2) (iii) (i) (iv) (ii)
(3) (iv) (ii) (i) (iii)
(4) (i) (ii) (iii) (iv)

42. Statement (I) : Capital adequacy norms help banks in strengthening their capital base.
Statement (II) : Capital adequacy norms help banks in sanctioning more loans.
Code :
(1) Both the Statements (I) and (II) are correct.
(2) Both the Statements (I) and (II) are incorrect.
(3) Statement (I) is correct but (II) is incorrect.
(4) Statement (I) is incorrect but (II) is correct.

43. What is Hawala ?

(1) Tax evasion
(2) Illegal trading in stock exchanges
(3) Bank robbery
(4) Illegal transactions of foreign exchange

44. Read the following events :

(i) Capital adequacy norms for commercial banks
(ii) Establishment of IDBI
(iii) Allowing convertibility of rupee at the market rate in the current account.
(iv) Nationalisation of general insurance business
Arrange the events in the ascending order of their occurrance :
(1) (i), (ii), (iii), (iv)
(3) (iv), (ii), (i), (iii)
(2) (iv), (iii), (ii), (i)
(4) (i), (ii), (iv), (iii)

45. Assertion (A) : The future will see mostly the electronic money clearance through
satellite networking.
Reasoning (R) : RBI is encouraging e-banking.
Code :
(1) (A) is true but (R) is false.
(2) (A) is false but (R) is true.
(3) Both (A) and (R) are true and (R) is the correct explanation of (A).
(4) Both (A) and (R) are true but (R) does not support (A).

46. Statement (I) : Developing countries can borrow more than their quota under
Extended Fund Facility (EFF) of IMF.

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Statement (II) : The Extended Fund Facility (EFF) was created in 1984 to help the
developing countries over longer period upto 3 years.
Code :
(1) Statement (I) is correct but (II) is not correct.
(2) Statement (II) is correct but (I) is not correct.
(3) Both the statements (I) and (II) are correct.
(4) Both the statements (I) and (II) are not correct.

47. Match the items of List - I with those of List - II; and choose the correct code of
combination :
List - I List - II
(a) Poverty Reduction and Growth (i) 1997
Facility(PRGF)
(b) Supplemental Reserve Facility (SRF) (ii) 1974
(c) Extended Fund Facility(EFF) (iii) 1999
Code :
(a) (b) (c)
(1) (iii) (i) (ii)
(2) (iii) (ii) (i)
(3) (ii) (i) (iii)
(4) (i) (iii) (ii)

48. Who among the following has given Absolute Advantage Model of international trade ?
(1) Adam Smith
(2) David Recardo
(3) Hackscher Ohlin
(4) William Petty

49. Which among the following is not an international economic institution ?

(1) IMF
(2) IBRD
(3) ADB
(4) IFRS

50. Assertion (A) : The fall in aggregate expenditure or aggregate demand in the economy
works to reduce imports and help in solving the balance of payment problems.
Reasoning (R) : The important way to reduce imports and thereby reduce deficit in
balance of payments is to adopt monetary and fiscal policies that aims at reducing
aggregate expenditure in the economy.
Code :
(1) (A) and (R) both are correct and (R) supports (A).
(2) (A) and (R) both are correct but (R) does not support (A).
(3) (A) is correct but (R) is incorrect.
(4) (R) is correct but (A) is incorrect.

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ANSWERS
1 2 11 3 21 * 31 2 41 3
2 2 12 1 22 4 32 3 42 3
3 1 13 2 23 2 33 4 43 4
4 3 14 1 24 4 34 3 44 *
5 1 15 2 25 2 35 2 45 3
6 1 16 1 26 3 36 3 46 1
7 3 17 1 27 1 37 2 47 1
8 3 18 4 28 2 38 1 48 1
9 3 19 1 29 1 39 4 49 4
10 2 20 3 30 4 40 1 50 1

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UGC NET PYQ COMMERCE NOVEMBER 2017

PAPER - III
1. Assertion (A): Buyers, for several industries, are potential competitors-they may
integrate backwards.
Reasoning (R): They have different degrees of bargaining power.
Code:
(1) (A) and (R) are correct and (R) is the correct reasoning of (A).
(2) (A) and (R) are correct but (R) is not the correct reasoning of (A).
(3) (A) is incorrect while (R) is a correct statement.
(4) Both (A) and (R) are incorrect.

2. Which one of the following is the governing factor in deciding the type of redressal
agency which will deal with the dispute of a consumer ?
(1) Area of sale of goods and services
(2) Type of goods and services sold
(3) The choice of the consumer
(4) The value of goods and services sold

3. Match List - I with List - II relating to the roles played by government in an economy
and indicate the correct code of their matching.
List - I (Roles) List - II (Examples)
(a) Regulatory role (i) Deciding timing and usage of resources
(b) Promotional role (ii) Capital intensive projects of public
sector
(c) Enterpreneurial role (iii) Imposing of high import duty
(d) Planning role (iv) Measures to control and cover risk in
priority sectors
Code:
(a) (b) (c) (d)
(1) (iv) (ii) (i) (iii)
(2) (iii) (i) (iv) (ii)
(3) (iii) (iv) (ii) (i)
(4) (i) (iii) (iv) (ii)

Which one of the following statement is not correct relating to Competition Policy and Law
?
(1) Collusion and dominance have potential for unfair competition.
(2) The appeal against decisions of Competition Commission of India can be made to the
Competition Appellate Tribunal.
(3) State monopolies, government's business policies and functioning of Regulatory
Authorities cannot be scrutinized under this law.
(4) Abuse of dominance rather than dominance should be the key for Competition Policy/
Law.

5. Which one of the following is not correct with reference to standard costing?

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(1) Standard costing is a system where pre determined costs are used for control of entire
organisation
(2) Standard may be expressed in quantitative and monetary measures
(3) Only adverse variances are investigated intensively
(4) Standard is determined for each element of cost

6. Which one of the following is not correct?

Profit
(1) Margin of Safety= P/V ratio
Change in Contribution
(2) P / V Ratio= Change in sales
𝑋100
Fixed cost
(3) Break-even point in units = CONTRIBUTION PAR UNIT
Desired profit
(4) Required sales o earn desired profits= P/V ratio

7. Schedule III Part II of the Companies Act, 2013 deals with which one of the following?
(1) Format of Balance Sheet
(2) Format of Profit and Loss Account
(3) Format of Trading Account
(4) Format of Cash Flow

8. Which one of the following statements is not true?

(1) When there is one liquidation and one formation it is known as external construction
(2) Goodwill or Capital reserve arises only when the amalgamation is in the nature of
merger
(3) Under the pooling of interest method, the transferee company incorporates the assets
and liabilities of the transferor company at book value
(4) The vendor company transfers preliminary expenses (at the time of absorption) to
equity shareholders' account

9. Statement I: The least cost or optimal input combination of labour and capital requires
that the marginal revenue productivity ratio of the two inputs should be equal to their
price ratio.
Statement II: In a hypothetical production function of the following form
Q = - L3 + 15L2 +10L
Where, Q = Quantity of the product and L = No of variable input (labour), the marginal
physical productivity of labour is - L2 + 15 L+10.

Code:
(1) Both the statements are true.
(2) Both the statements are false.
(3) Statement - I is true while statement - II is false.
(4) Statement - I is false while statement - II is true.

10. Match the items of List - I with the items of List - II and indicate the code of correct
matching.
List - I List - II
(a) Technological advantages (i) Managerial economies

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(b) Large scale purchase of material (ii) inputs Economies in transport and
storage
(c) Specialized departments under (iii) Economies in marketing
Specialized personnel
(d) Oil companies having their own fleet of (iv) Economies in production
tankers Maifer
Code:
(a) (b) (c) (d)
(1) (iv) (iii) (i) (ii)
(2) (iii) (iv) (ii) (i)
(3) (iii) (i) (ii) (iv)
(4) (iv) (ii) (iii) (i)

11. Manufacturing of T.V. sets and refrigerators and their pricing in India belong to which
one of the following market structures?
(1) Monopolistic competition
(2) Perfect competition
(3) Monopoly
(4) Oligopoly

12. Statement I: Pricing at par with the market price of the existing brands is considered
to be the most reasonable pricing strategy for a product which is being sold in a strongly
competitive market.
Statement II: Pricing below the market price has been found to be more successful when a
seller intends to achieve a prestigious position among the sellers in the locality for selling
prestigious goods of much superior quality.
Code:
(1) Both the statements are correct
(2) Both the statements are incorrect
(3) Statement - I is correct while Statement - II is incorrect
(4) Statement - I is incorrect while Statement - II is correct

13. Which of the following statements are true? Select the correct code.
(a) The coefficient of rank correlation has the same limits as the Karl Pearson's coefficient
of correlation.
(b) The coefficient of correlation is independent of the change of origin but not of scale.

(d) bxy is called regression coefficient of X variable on Y variable.

(e) If bxy is 0.4 and byx is 1.6, coefficient of determination would be 0.8.
Code:
(1) (a), (b) and (c)
(2) (a), (c) and (d)
(3) (c), (d) and (e)
(4) (b), (c) and (e)

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14. The application of x2 - test as parametric test will be in which one of the following
situations?
(1) Test of independence of attributes
(2) Test of goodness of fit of a specific type of distribution
(3) Test for population variance on the basis of small sized sample variance
(4) Test of homogeneity of several populations with respect to some characteristic of
interest

15. In which one of the following situations is the application of t-test is most appropriate
?
(1) Testing the significance of coefficient of correlation between paired observations of
small sized sample
(2) Testing the significance of coefficient of correlation between paired observations of
large sized sample
(3) Comparing variances of two small sized samples
(4) Testing the significance of the difference among mean values of more than two samples
groups

16. Which of the following is not a logical data structure?

(1) Chain
(2) Stack
(3) List
(4) Tree

17. Match the items of List - I with those of List II; and choose the correct code of
combination:
List - II List - I
(a) A committee consist of a group of people specifically (i) C.I. Barnard
designated to perform some administrative work
(b) Staff service in organisation means the service or advice or (ii) W.H. Newman
council, as distinguished from the function of authority or
command
(c) Organisation is informal when the aggregate interpersonal (iii) McFarland
relationships are without conscious joint purpose
(d) An identifiable group of people contributing their efforts (iv) James D. Mooney
towards the attainment of goals is called organisation
Code:
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)
(2) (iv) (ii) (iii) (i)
(3) (iv) (iii) (i) (ii)
(4) (i) (ii) (iv) (iii)

18. Which among the following is not a physical barrier of communication?

(1) Poor vocabulary
(2) Noise
(3) Improper time
(4) Overload information

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19. Statement I: Management control seeks to compel events to conform to plans.
Statement II: Controlling is determining what is motivational to the employees of the
organization.
Code:
(1) Statement - I is correct but II is incorrect
(2) Statement - II is correct but I is incorrect
(3) Both the statements I and II are correct
(4) Both the statements I and II are incorrect

20. Assertion (A): Sound planning is one of the essential elements for the success of
corporate entities.
Reasoning (R): Planning is deciding in advance what is to be done. It involves the selection
of objectives, policies, procedures and programmes from among alternatives.
Code:
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(3) Both the statements (A) and (R) are incorrect.
(4) (A) is correct but (R) is incorrect.

21. Match the items of List I with List - II and denote the code of correct matching:
List - I List - II
(a) Acceptability (i) Convenience Aspect
(b) Affordability (ii) Functional and Psychological Aspects
(c) Accessibility (iii) Information and knowledge Aspects
(d) Awareness (iv) Economic and Psychological Aspects
Code:
(a) (b) (c) (d)
(1) (i) (iii) (ii) (iv)
(2) (iii) (ii) (i) (iv)
(3) (ii) (iv) (i) (iii)
(4) (iv) (ii) (i) (iii)

22. Match the items of List - I with the items of List - II which are related to dimensions of
brand personality. Denote the code of correct matching.
List - I List - II
(a) Sincerity (i) Upper class, Charming
(b) Excitement (ii) Reliable, Intelligent, Successful
(c) Competence (iii) Down to earth, Cheerful, Wholesome
(d) Sophistication (iv) Outdoors, Tough
(e) Ruggedness (v) Spirited, Imaginative, Up-to-date
Code:
(a) (b) (c) (d) (e)
(1) (v) (ii) (i) (iii) (iv)
(2) (i) (iv) (iii) (ii) (v)
(3) (iii) (v) (ii) (i) (iv)
(4) (ii) (i) (iii) (v) (iv)

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23. One of the techniques of stimulating creativity for developing new product where you
start with an idea then thinking of the next idea and link, then think of the next
association and do this with all association that come up with each new idea, is known
as:
(1) Attribute Listing
(2) Forced Relationship
(3) New Contexts
(4) Mind Mapping

24. Statement I: We are motivated to re-evaluate our beliefs, attitudes, opinions or values
occurred at two different time.
Statement II: The difference due to some intervention occurred at either point of time
motivates us to search a newer option and thus satisfies our mind/anxiety.
Code:
(1) Statement I is correct, Statement II is not correct.
(2) Statement - II is correct, Statement - I is not correct.
(3) Both statements are correct.
(4) Both statements are incorrect.

25. Operating Leverage and Financial Leverage of a firm are 3 and 2, respectively. If sales
increase by 6%, then earnings before tax will rise by:
(1) 18%
(2) 12%
(3) 36%
(4) 30%

26. Match the items of List I with those of List II and indicate the correct code:

List - I List - II
(a) Net Income Approach (i) Working Capital Management
(b) Profitability Index (ii) Over- capitalisation
(c) Concentration Banking (iii) Capital Structure Planning
(d) Lower Rate of Return (iv) Capital Budgeting Decision
Code:
(a) (b) (c) (d)
(1) (iii) (iv) (i) (ii)
(2) (iii) (iv) (ii) (i)
(3) (iv) (ii) (iii) (i)
(4) (ii) (iii) (i) (iv)

27. Statement I: In payback period method, the risk of the project is adjusted by lessening
the target payback period.
Statement II: Sensitivity Analysis helps in calculation of net present value of the proposal.
Code:
(1) Statement - I is correct, but statement - II is wrong
(2) Statement - I is wrong, but statement - II is correct
(3) Statement - I and statement II, both are correct
(4) Statement - I and statement - II, both are wrong

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28. Dividend irrelevance argument of MM Model is based on:

(1) Hedging
(2) Issue of Debentures
(3) Liquidity
(4) Arbitrage

29. Match the items of List I with List II and indicate the correct code of their matching
relating to human resource management philosophy:
List - I List - II
(a) Rational System Approach (i) F.W. Taylor
(b) The Ahmedabad Experiments to improve (ii) Max Weber's theory of bureaucracy
productivity
(c) Social System Approach (iii) A.K. Rice
(d) Functional organisation concept (iv) Hawthorne studies
Code:
(a) (b) (c) (d)
(1) (ii) (iv) (iii) (i)
(2) (iii) (ii) (iv) (i)
(3) (iv) (iii) (i) (ii)
(4) (iii) (i) (ii) (iv)

30. Which one of the following is not a method of deciding acceptable level of reliability or
Adite consistency of measurement in selection methods ?
(1) Regiocentric approach
(2) Split half method
(3) Test related method
(4) Expectancy diagrams

31. Put the following steps of discrete selection process in correct sequence and select the
correct code:
(a) Preliminary interview
(b) Completion of application blank
(c) Background investigation
(d) Physical examination
(e) Employment tests
(f) Comprehensive interview
(g) Final employment decision
Code:
(1) (b), (a), (c), (d), (e), (f), (g)
(2) (b), (a), (e), (f), (c), (d), (g)
(3) (a), (b), (e), (f), (c), (d), (g)
(4) (a), (b), (d), (c), (e), (f), (g)

32. Match List - I with List - II relating to wage theories and its propounders and indicate
the code representing correct matching:
List - I (Theory) List - II (Propounder)
(i) Karl Marx (a) Subsistence Theory

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(ii) Francis Walker (b) Surplus Value Theory
(iii) David Richardo (c) Wage Fund Theory
(iv) Adam Smith (d) Residual Claimant Theory
Code:
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)
(2) (iv) (i) (ii) (iii)
(3) (iii) (i) (iv) (ii)
(4) (iv) (ii) (iii) (i)

33. When was paper currency first started in India ?

(1) 1542
(2) 1611
(3) 1705
(4) 1705

34. 'RWA' with regard to capital adequacy stands for which one of the following?
(1) Risk Withdrawal Adjustments
(2) Risk Withdrawal Arrangements
(3) Risk Weighted Assets
(4) Risk-free Weighted Assets

35. Match the items of List I with List - II and denote the code of correct matching :
List - I List - II
(a) Future (i) Consists of purchase or sale of commodities in two different
markets with the expectations that a future change in price in one
market will be off set by an opposite change in the other market
(b) Swap (ii) A contract in which a seller agrees to deliver an asset to a buyer
at a predetermined price at some future date as privately
negotiated
(c) Hedging (iii) A contractual agreement for exchanging a steam of payments
with opposite and matching needs, to reap the benefit arising due
to market discrepancies
(d) Forward (iv) A contract covering the purchase and sale of physical
commodities or financial instruments for future delivery on a
future exchange floor
Code:
(a) (b) (c) (d)
(1) (iv) (iii) (ii) (i)
(2) (i) (ii) (iii) (iv)
(3) (ii) (i) (iii) (iv)
(4) (iv) (iii) (i) (ii)

36. Which of the following are the forms of e-banking? Select the correct code.
(a) Internet Banking
(b) Telephone Banking
(c) Electronic Cheque Conversion
(d) Electronic Bill Payment
(e) Direct Fund Transfer Through RTGS

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Code:
(1) (a), (c) and (d)
(2) (a), (b), (c) and (d)
(3) (b), (c) and (d)
(4) (a), (b), (c), (d) and (e)

37. Which one among the following has the largest share of exports from India ?
(1) Agriculture and Allied Commodity
(2) Gems and Jewellery
(3) Handicrafts
(4) Electronic Goods

38. Which one among the following is not a part of TRIPS agreement?
(1) Industrial Design
(2) Geographical Indications
(3) Interior Design
(4) Layout Designs of Integrated Circuits

39. Which one among the following is not correct?

(1) IMF's headquarters is in Washington, D.C.
(2) IMF has 198 countries as its members.
(3) IMF is an outcome of the Bretton Woods Conference.
(4) IMF was found on July 7, 1944.

40. Statement I: Served From India Scheme (SFIS) has been replaced with Service Exports
from India Scheme (SEIS).
Statement II: The rate of reward under SEIS would be based on net foreign exchange
earned.
Code:
(1) Statement - I is correct but statement - II is incorrect.
(2) Statement - II is correct but statement - I is incorrect.
(3) Both the statements I and II are incorrect.
(4) Both the statements I and II are correct.

41. Match the items of List I with those of List II and indicate the correct code:
List - I (Accounting standard) List - II (Relationship)
(a) AS-6 (i) Accounting for Consolidated Financial
Statements
(b) AS-3 (ii) Accounting For Fixed Assets
(c) AS-10 (iii) Depreciation Accounting
(d) AS-21 (iv) Accounting For Cash Flow Statement
Code:
(a) (b) (c) (d)
(1) (ii) (iv) (iii) (i)
(2) (iii) (iv) (ii) (i)
(3) (iv) (iii) (i) (ii)
(4) (i) (ii) (iii) (iv)

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42. Which of the following statements are False? Indicate the correct code.
(a) RBI has prescribed guidelines for the operations of credit rating agencies in India.
(b) All venture capital funds in India have been promoted by Government.
(c) A mutual fund can operate as venture capital fund.
(d) Credit rating is an authoritative guarantee regarding the credit position of a person.
Code:
(1) (a), (b), (c) and (d)
(2) (a), (b) and (d)
(3) (a), (b) and (c)
(4) (a) and (c)

43. Which of the following are the examples of systematic risk? Indicate the correct code.
(a) Elimination of Government Subsidy
(b) Increase in Bank Rate
(c) Labour Problem
(d) High Levered Fund
Code:
(1) (a), (b) and (c)
(2) (a), (b) and (d)
(3) (a) and (b)
(4) (a) and (d)

44. Which of the following are the benefits of responsibility accounting?

(a) It facilitates the centralisation of decision taking.
(b) It provides a system of closer control.
(c) It measures the performance of individuals in an objective manner.
(d) It develops a sense of cost consciousness among managers and their subordinates.
Code:
(1) (a), (b) and (c)
(2) (b), (c) and (d)
(3) (a), (b) and (d)
(4) (a), (c) and (d)

45. Which of the following statements are True? Indicate the correct code.
(a) Tax-shield on depreciation and interest is an important variable both for lessor and
lessee.
(b) A lessee may evaluate the lease options as against the buying option.
(c) Sale and Lease-back, and leveraged lease are types of financial lease.
(d) Lease financing is a type of capital budgeting decision from the point of view of the
lessee.
Code:
(1) (a), (b) and (d)
(2) (b), (c) and (d)
(3) (a), (c) and (d)
(4) (a), (b) and (c)

46. Which one of the following methods of Inflation Accounting has been proposed by
Sandilands Committee of U.K?

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(1) General Price Level Method
(2) Specific Price Level Method
(3) Current Cost Accounting Method
(4) Generally Accepted Accounting Principles

47. Which of the following are the motives of mergers? Indicate the correct code.
(a) To gain the economies of scale.
(b) To utilise under utilised resources.
(c) To break the monopoly.
(d) To reduce the tax liability.
Code:
(1) (a), (c) and (d)
(2) (a), (b) and (d)
(3) (b), (c) and (d)
(4) (a), (b) and (c)

48. A research technique used particularly in retailing (online and offline), in which
consumers are recruited by researchers to act as anonymous buyers in order to evaluate
customer satisfaction, service quality and customer's own evaluation of their experiences,
is known as:
(1) Consumer Jury
(2) Projective Technique
(3) Mystery Shopping
(4) Semiotic Research

49. Match the items of List I with items of List II and select the correct code of - matching:
List - I List - II
(a) Market Leader (i) Avoid hostile attacks on rivals
(b) Market Challenger (ii) Attack the market leader
(c) Market Follower (iii) Provide high level of specialisation
(d) Market Nicher (iv) Attack the market
Code:
(a) (b) (c) (d)
(1) (iv) (ii) (i) (iii)
(2) (ii) (iv) (iii) (i)
(3) (iii) (i) (iv) (ii)
(4) (i) (iii) (iv) (ii)

50. Which of the statements are correct? Select correct code.

Statement (I): Opinions can be described as the slow responses we might give to opinion
poll questions about any issue.
Statement (II): Attitudes are held with a greater degree of conviction, over longer duration
and more likely to influence behaviour.
Statement (III): Values are held more strongly than attitudes and underpin our attitudinal
behaviour.
Code:
(1) (I) and (II)
(2) (II) and (III)

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(3) (I) and (III)
(4) (I), (II) and (III)

51. Which of the following is not a major aspect of digital marketing?

(1) Jurisdiction
(2) Ownership
(3) Security
(4) Entertainment

52. Which of the following statements are correct? Select the correct code.
Statement (I): Horizontal conflict between channel members is caused due to channel
members impinge on the market territory of other intermediaries at different level.
Statement (II): Vertical conflict is caused due to intense price competition, disagreement
about promotional activities, attempts to bypass intermediary and distribute direct,
differing expectations as to channel or intermediary performance.
Statement (III): Hybrid channel conflict arises due to grey marketing. moysow so18 (
Code:
(1) (I) and (III)
(2) (1) and (II)
(3) (II) and (III)
(4) (I), (II) and (III)

53. Which of the following statements are incorrect? Indicate the correct code.
Statement (I): As consumer's income increases, the percentage of income spent for food
items decreases, for rent, fuel and light remains the same, for clothing remains the same
and for sundries increases.
Statement (II): Societal marketing period was from 1960 onwards.
Statement (III): Our debt to social anthropology decreases more and more as we use
qualitative market research approaches.
Statement (IV): The economic concepts of perfect competition and matching of supply and
demand underlie the marketing concept, particularly in relation to the concepts of the
price at which goods are sold and quantity distributed.
Code:
(1) (I) and (II)
(2) (II) and (III)
(3) (II) and (IV)
(4) (I) and (IV)

54. Which of the following statements are correct? Indicate the correct code.
Statement (I): Virtue ethics is a form of ethical approach associated with Aristotle which
stresses the importance of developing virtuous principles, 'right' character and the pursuit
of a virtuous life.
Statement (II): Utilitarianism is an ethical approach where an action is right if, and only if,
it conforms to the principle of utility, whereby utility is minimised and pain and
unhappiness minimised more than any alternative.
Statement (III): 'Deontological Ethics' is an ethical approach where rightness or wrongness
of an action or decision is not judged to be based exclusively on the consequences of that
action or decision.

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Code:
(1) (I), (II) and (III)
(2) (1) and (II)
(3) (I) and (III)
(4) (II) and (III)

55. Assertion (A): The matter of succession planning is often deferred.

Reasoning (R): The succession charts need utmost confidentiality..
Code:
(1) (A) is correct and (R) is right reasoning of it.
(2) (A) is correct but (R) is not the correct reasoning of it.
(3) (A) is correct but (R) is not correct statement.
(4) (A) is not correct while (R) is a correct statement.

56. Bethel Maine of USA was the pioneer of which one of the following Laboratory training
methods of employee training?
(1) Transactional Analysis
(2) Business Games
(3) Critical Incident Technique
(4) T-group

57. Which of the following statements relating to appraisal methods are not correct?
Indicate the correct code.
Statement (I): The MBO program is built on the assumption that individuals always need
not be responsible and self - directed and thus need to be motivated to work towards
objectives.
Statement (II): Forced distribution method was developed by Karl Marx.
Statement (III): Peer evaluation and self appraisal need to be done on well – defined
parameters in check-list method.
Statement (IV): Forced choice method consists of seven main factors on three point rating
scale.
Code:
(1) Statements (I) and (II)
(2) Statements (III) and (IV)
(3) Statements (I), (II) and (III)
(4) Statements (I), (II), (III) and (IV)

58. Match the main concerns of HRD sub-systems given in List - I with List - II and
choose the correct code of matching:

List - I (HRD subsystems) List – II (Main concerns)

(a) Individual's career (i) Competence
(b) Development of teams (ii) Power
(c) Socialisation of organisation (iii) Commitment and integration
(d) Management of organization (iv) Values
Code:
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)

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(2) (iv) (ii) (iii) (i)
(3) (iii) (i) (iv) (ii)
(4) (ii) (iii) (i) (iv)

59. Match the items of List - I with List - II and indicate the correct code of matching:
List - I (Wage Theory) List - II (Basis of determining wage)
(a) Subsistence theory (i) Capitalists first set aside predetermined
surplus income and then decide the wages
(b) Surplus value theory of wages (ii) Growth of the population brings down to
level of subsistence
(c) Wage Fund theory (iii) Balance claimed upon the output of
industry
(d) Residual Claimant theory (iv) Natural price for labour
Code:
(a) (b) (c) (d)
(1) (iv) (ii) (i) (iii)
(2) (ii) (iv) (i) (iii)
(3) (iii) (i) (ii) (iv)
(4) (i) (iii) (iv) (ii)

60. Statement (I): Selection of wrong criteria during performance appraisal can result in
serious dysfunctional consequences.
Statement (II) Generally the evaluator becomes more critical about performance evaluation
technique rather than which criteria need to be evaluated.
Code:
(1) Both the statements are correct.
(2) Both the statements are incorrect.
(3) Statement - I is correct while statement - II is incorrect.
(4) Statement - I is incorrect while statement - II is correct.

61. Which of the statements are not correct? Indicate the correct code.
Statement (I): Social assistance is financed by tripartite or bipartite contributions.
Statement (II) : Social insurance ignores the income and means of liable relation.
Statement (III): Social assistance makes the beneficiary a first charge on the liable
relations.
Statement (IV): Social assistance aims at to provide maximum subsistence to those who
can not make it on their own.
Code:
(1) (I) and (II)
(2) (II) and (III)
(3) (I) and (IV)
(4) (III) and (IV)

62. According to which one of the following theories, differences in nominal interest rates
will be eliminated in the exchange rate ?
(1) Leontief Paradox Trade Theory
(2) Fisher Effect Economic Theory
(3) Purchasing Power Parity Theory
(4) Combined Equilibrium Theory
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63. According to the Purchasing Power Parity Theory, the level of foreign exchange rate is
determined by which of the following?
(1) Domestic Price level (P) divided by foreign price level ( P* )
(2) P* - P
(3) P - P*
(4) P*/P

64. Match the items of List I with List II and choose the correct code of combination:
List - I List - II
(a) It abolishes all restrictions on trade among the (i) Common Market
members
(b) It not only eliminates all restrictions on trade among (ii) Economic Union
members but also adopts a uniform commercial policy
against the non-members
(c) It allows free movement of labour and capital within the (iii) Free Trade Area
common market
(d) It achieves some degree of harmonization of national (iv) Customs Union
economic policies, through a common central bank, unified
monetary and fiscal policy, etc.
Code:
(a) (b) (c) (d)
(1) (iv) (ii) (i) (iii)
(2) (iv) (iii) (i) (ii)
(3) (iii) (iv) (i) (ii)
(4) (ii) (i) (iv) (iii)

65. Assertion (A): Indian companies have established subsidiaries and joint ventures in a
number of countries in different manufacturing industries and service sectors.
Reasoning (R): By restricting the areas of operations and growth, the government policy
seriously constrained the potential of Indian companies to make a foray into the foreign
countries.
Code:
(1) Both (A) and (R) are correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(3) Both (A) and (R) are incorrect.
(4) (A) is correct but (R) is incorrect.

66. Statement (I): Automatic variations in the exchange rates, in accordance with the
variations in the balance of payments position, tend to automatically restore the balance
of payments equilibrium.
Statement (II): A deficiency in the balance of payments increases the exchange rate.
Code:
(1) Statement (I) is correct but (II) is incorrect.
(2) Statement (II) is correct but (I) is incorrect.
(3) Both the statements (I) and (II) are incorrect.
(4) Both the statements (I) and (II) are correct.

67. Which among the following is not a correct statement

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(1) Designated bank refers to any bank in India, which has been authorised by the RBI to
act as banker to FII.
(2) Domestic custodian includes any person carrying on the activities of providing
custodial services in respect of securities.
(3) Sub-account includes those institutions, established or incorporated in India, whether
incorporated or not, on whose behalf investments are proposed to be made in India by
FIIs.
(4) A domestic portfolio manager or domestic asset management company shall also be
eligible to be registered as FII to manage the funds of sub-accounts.

68. Identify the incorrect statement from the following:

(1) Broken-date contract is a full month forward contract.
(2) Currency arbitrage refers to making profit by buying a currency cheap in one market
and selling it dear in the other market at a particular point of time.
(3) Currency Futures Market refers to organised foreign exchange market where a fixed
amount of a currency is exchanged on a fixed maturity date in the pit.
(4) Currency Options Market refers to market for the exchange of currency where the
option buyer enjoys the privilege of not exercising the option if the rate is not favourable.

69. Dividends declared by Unit Trust of India or by mutual fund is:

(1) Fully exempt in the hands of unit holders
(2) Fully taxable in the hands of unit holders
(3) Fully exempt in the hands of individual unit holders and fully taxable in the hands of
institutional unit holders
(4) Included in the gross total income but a deduction is allowed under section 80 L

70. Match the items of List I with the items of List II and choose the correct answer from
the code given below:
List - I (Types of Income) List - II (Heads of Income)
(a) Salary, bonus, commission, etc. received (i) Income from other Sources
by a working partner from the firm
(b) Pension received by the widow of a (ii) Income from (short term) Capital Gains
government employee
(c) profits on the sale of machinery used in (iii) Income from Capital Gains
business
(d) Compensation received from the (iv) Income from Business and Profession
government on compulsory acquisition of
land and profit earned
(v) Income from Salaries
Code:
(a) (b) (c) (d)
(1) (v) (ii) (i) (iii)
(2) (iv) (ii) (iii) (v)
(3) (v) (iv) (iii) (ii)
(4) (iv) (i) (ii) (iii)

71. Which of the following will be considered as tax planning effort?

(a) Mr. A purchased a house for self residence of 80 lacs by taking a loan of 60 lacs
from SBI at 10% interest, instead of using his own funds.
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(b) Mr. A made investment in purchasing 12% redeemable debentures of TISCO worth
1.50 lac
(c) Mr. A purchased 100 gram gold biscuits of 2.5 Lac from SBI on the occasion of Diwali.
(d) Mr. A invested 1 crore in purchasing 5 acres of agricultural land in his native village in
Gaya.
Code:
(1) (a) and (b)
(2) (b) and (c)
(3) (a) and (d)
(4) (c) and (d)

72. Assertion (A): If the interest is payable outside India, tax must be deducted at source.
Reason (R): If tax has not been deducted at source, the amount paid as interest will not be
allowed as a deduction in computing business income.
Select the correct answer from the code given below :
(1) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(2) (A) and (R) both are correct but (R) is not the correct explanation of (A).
(3) (A) is correct but (R) is wrong.
(4) (A) is wrong but (R) is correct.

73. Under the Income Tax Act, 1961 the education cess of (2% + 1%) is calculated on the
amount of:
(1) Income Tax
(2) Income Tax Plus surcharge (if any)
(3) Gross total Income
(4) Taxable Income

74. Exemption, under Sec.54 F of the Income Tax Act, 1961, shall not be allowed if the
assessee, on the date of transfer owns:
(1) Any residential house
(2) A residential house which is let out
(3) A house which is self occupied
(4) More than one residential house

75. The income from the sale of a machinery used in business is treated as:
(1) Income from business and profession
(2) Short-term capital gain
(3) Long-term capital gain
(4) Income from other sources

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ANSWERS
1 1 16 1 31 3 46 3 61 3
2 4 17 1 32 3 47 2 62 2
3 3 18 1 33 * 48 3 63 1
4 3 19 1 34 3 49 1 64 3
5 3 20 1 35 4 50 2 65 2
6 4 21 3 36 4 51 4 66 1
7 2 22 3 37 2 52 3 67 3
8 2 23 4 38 3 53 4 68 1
9 3 24 1 39 2 54 3 69 1
10 2 25 3 40 4 55 2 70 4
11 1 26 1 41 2 56 4 71 3
12 3 27 1 42 2 57 4 72 1
13 2 28 4 43 3 58 3 73 2
14 3 29 1 44 2 59 1 74 4
15 1 30 1 45 4 60 1 75 2

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UGC NET COMMERCE JANUARY 2017 Paper - II

1. Assertion (A): Corporate culture is generally considered as either closed and threatening
or as open and participatory.
Reason (R): Corporate culture and style of functioning of top managers is important factor
for determining the internal environment of a company.
Codes:
(1) (A) is correct, but (R) is incorrect.
(2) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(3) Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
(4) (R) is correct, but (A) is incorrect.

2. Statement I: If the workers develop an attitude of non-cooperation with Management, a

repressive economic system may be needed to set right this industrial disorder.
Statement II: By fulfilling social responsibility towards shareholders, employees,
consumers, government and community, a business achieves economic growth and
increases public image.
Codes:
(1) Statement I is correct, but II is incorrect.
(2) Both the statements I and II are correct.
(3) Statement correct but I is incorrect.
(4) Both the statements are incorrect.

3. Match the items of List-I with List-II.

List-I List - II
a. Planning Commission i. 1993
b. Competition Act ii. 2002
C. Adrian Cadbury Committee iii. 1951
d. Rangrajan Committee on Disinvestment iv. 1991
in PSES
Codes:
ABCD
(1) ii i iii iv
(2) ii iii iv i
(3) iii iv i ii
(4) iii i iv ii

4. From which Five Year Plan "Growth with Social Justice" has received emphasis ?
(1) 5(th)
(2) 6(th)
(3) 7(th)
(4) 10(th)

5. Which of the following is not the objective of the Competition Act, 2002?
(1) Prohibition of Restrictive Trade Practices.
(2) Prohibition of Dominant Position
(3) Prohibition of Anti-competitive Agreements
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(4) Regulation of Combinations

6. Consolidated financial statements are prepared on the principle

(1) In form the companies are one entity, in substance they are separate.
(2) In form companies are separate, in substance they are one.
(3) In form and substance the companies are one entity.
(4) In form and substance the companies are separate.

7. Match the items of List-I with those of List-II and indicate the correct code:
List-I List-II
a. Acid Test Ratio i. Profitability analysis
b. Debt Service Coverage Ratio ii. Activity analysis
c. Debt Equity Ratio iii. Liquidity analysis
d. Stock Turnover Ratio iv. Long-term solvency analysis
Codes:
abcd
(1) ii i iii iv
(2) ii iii iv i
(3) iii iv i ii
(4) iii i iv ii

8. From the following two statements of Assertion (A) and Reason (R), indicate the correct
code:
Assertion (A): From the marginal costing approach point of view, the marginal cost is
compared with the purchase price.
Reason (R): If the marginal cost is less than the purchase price it should be purchased
rather than manufactured.
Codes:
(1) (A) and (R) both are correct.
(2) (A) is correct, but (R) is not correct.
(3) (A) is not correct, but (R) is correct.
(4) (A) and (R) both are incorrect.

Which one of the following statements is true about standard labour time ?
(1) Standard labour time indicates the time in hours needed for a specific process.
(2) It is standardized on the basis of past experience.
(3) In fixing standard time due allowance should not be given to fatigue and tool setting.
(4) The Production Manager does not provide any input in setting the labour time
standards.

10. Under the yield method of valuation of equity share capital, if for an equity share of
50, the normal rate of return is 10% and expected rate of return is 5% then the value of
an equity share will be
(1) ₹25
(2) ₹40
(3) ₹50
(4) ₹100

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11. Match the items of List-I with the items of List-II and denote the code of correct
matching.
List - I List - II
a. Hypothesis of Sales Revenue i. W.J. Baumol
Maximization
b. Hypothesis of Maximization of Firm's ii. Robin Marris
Growth Rate
c. Hypothesis of Maximization of Managerial iii. O.E. Williamson
Utility Function
d. Hypothesis of Satisfying Behaviour iv. Cyert and March
Codes:
abcd
(1) ii i iii iv
(2) ii iii i iv
(3) i ii iii iv
(4) i iv ii iii

12. Which of the following is not a correct matching with regard to price elasticity, change
in price and change in total revenue ?
Price elasticity coefficient Change in price Change in total revenue
Increase Increase
(1) Zero
Decrease Decrease
Increase Decrease
(2) Less than one
Decrease Increase
Increase No change
(3) Equal to one
Decease No change
Increase Decrease
(4) More than one
Decrease Increase

13. The short-run production function for a firm is as follows:

Q = - L3 + 15L2 + 10L
Where Q denotes total output in physical units and L denotes units of labour which are
homogeneous, but are not perfectly divisible and change in labour does not tend to
become zero.
Statement I: In this production function, the marginal product of 5(th) unit of labour is
Statement II: Similarly, in this production function, the average product of the 5(th) unit
of labour is 60.
Codes:
(1) Both the Statements are true.
(2) Both the Statements are false.
(3) Statement I is true, while Statement II is false.
(4) Statement I is false, but Statement II is true.

14. The Kinked demand curve model of oligopoly was developed by

(1) Augustin Cournot
(2) Stackelberg
(3) Edgeworth

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(4) Sweezy

15. For the success of the penetration price policy, which one of the following is not
desirable ?
(1) Short-run demand for the product to have elasticity greater than unity.
(2) Availability of economies of large scale production.
(3) Product to have very low cross-elasticity of demand.
(4) Easy acceptance and adoption of the product by the consumers.

16. Statement I: The absolute value of the difference between an unbiased estimate and
the corresponding population parameter is called sampling error.
Statement II: Multi-stage sampling is a restricted non-probability based sampling
technique.
Indicate the correct code:
(1) Both the Statements are correct.
(2) Both the Statements are incorrect.
(3) Statement I is correct, while Statement II is incorrect.
(4) Statement I is incorrect, while Statement II is correct.

17. Match the following items of List-l and List-II with regard to hypothesis-testing and
indicate the code of correct matching.
List-I List-II
a. The ability of test to reject the null i. Level of significance
hypothesis when it is false.
b. The probability of accepting a false null ii. Type 1 error
hypothesis. ii.
c. The probability of rejecting a true null iii. Type II error
hypothesis iii due to sampling error.
d. The probability of rejecting a true null iv. Power of a test
hypothesis.
Codes:
(a) (b) (c) (d)
(a) 4 2 1 3
(b) 4 3 1 2
(c) 1 2 3 4
(d) 2 3 1 4

18. Which one of the following is a false statement?

(1) The signs of the regression coefficients are always the same.
(2) Correlation coefficient is the geometric mean of the two regression coefficients.
(3) The co-variance between two variables divided by the product of their standard
deviations produces the value of coefficient of correlation.
(4) Coefficient of correlation is independent of origin but not of scale.

19. If the two regression coefficients are 0.8 and 0.2, then the value of coefficient of
correlation is
(1) -0.16
(2) +0.50

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(3) +0.40
(4) -0.40

20. Process of arranging data into a new order is called

(1) Manipulation of data
(2) Standardization of data
(3) Sequencing of data
(4) Standardized input

21. Developed by the Special Projects Office of the U.S. Navy; this technique was first
formally applied to the planning and control of the Polaris Weapon System in 1958 and
worked well in expediting the completion of that programme. The technique is known as
(1) Gantt Chart
(2) PERT
(3) CRM
(4) Milestone budgeting

22. Consider the following statements relating to planning and find out which of the
following are correct:
Statement I: The operating personnel should not be associated with the preparation of the
budget.
Statement II: A programme indicates the principal operations to be carried out to
accomplish a work.
Statement III: Under MBO technique, the Managers should be provided with a freehand to
laydown the objectives.
Codes:
(1) Only Statement I is correct.
(3) Only Statement III is correct.
(2) Only Statement II is correct.
(4) Only Statements I and III are correct.

23. Assertion (A): Sympathetie listening in upward communications often leads to

resentment in communicator.
Reason (R): Sympathetic listening and encouraging remarks often lead the communicator
to believe that his proposal will receive action not contemplated by superior
(communicatee).
Codes:
(1) (A) is correct and (R) is the right explanation to it.
(2) (A) is correct, but (R) is not the right explanation to it.
(3) (A) is not correct while (R) is a correct statement.
(4) Both (A) and (R) are incorrect.

24. Assertion (A): Herzberg believes that today's motivators are tomorrow's hygiene
factors.
Reason (R): Some job conditions operate primarily to dissatisfy employees when they are
absent, but their presence does not motivate them in strong way.
Codes:
(1) (A) and (R) both are correct and (R) is the right explanation of (A).

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(2) (A) and (R) both are correct, but (R) is not the right explanation of (A).
(3) (A) is not correct while (R) is a correct.
(4) Both (A) and (R) are incorrect.

25. Which of the following statements relating to Henry Fayol are correct?
Statement I: Authority and responsibility are related and former arises from latter.
Statement II: Espirit de Corps is an extension of the principle of unity of command.
Statement III: Unity of command means only one command at a time.
Statement IV: There are fourteen basic principles identified by Henry Fayol.
Codes:
(1) Statements I, II and IV
(2) Statements II and III
(3) Statements I and IV
(4) Statements II and IV

26. Match the following items of List-I (sources of competition) with List-II (examples for
these sources of competition) and indicate the code of correct matching.
List - I List-II
a. Directly similar products i. OLA Taxi and Metro Rail
b. Available substitutes ii. Mercedes and BMW
с. Unrelated products iii. PVR and Amusement park
Codes:
abc
(1) iii ii i
(2) i iii ii
(3) i ii iii
(4) ii i iii

27. The marketing task which finds ways to alter the time pattern of demand through
flexible pricing, promotion and other incentives is called Aaifer
(1) Demarketing
(2) Synchromarketing
(4) Gorilla Marketing
(3) Fleximarketing

28. Which of the following is not a reason for a firm to lose its market share to
competitors?
(1) A product/model is perceived by the target customer group as satisfying needs.
(2) Customers not being covered by the company's sales force and distribution outlets.
(3) Customers may have been lost to competitors due to poor service by the firm or its
sales personnel or product becoming obsolete or more expensive.
(4) All the above are correct reasons for given condition.

29. Match the items of List-I with List-II and denote the code of correct matching.
List - I List - II
a. Invest Strategy i. No receiving of new resources.
b. Protect Strategy ii. Well financed marketing efforts.
C. Harvest Strategy iii. Selective resource allocation

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d. Divest Strategy iv. Not warranting substantial new
resources.
Codes:
abcd
(1) ii iii iv i
(2) i iii ii iv
(3) ii i iv iii
(4) iv iii ii i

30. An elaborated version of the idea expressed in meaningful consumer term is called
(1) Product image
(2) Product idea
(3) Product concept
(4) Prototype

31. Which one of the following combination of rules stands true while preparing schedule
of changes in working capital?
A. An increase in current assets increases working capital.
B. An increase in current assets decreases working capital.
C. An increase in current liabilities decreases working capital.
D. An increase in current liabilities increases working capital.
Codes:
(1) A and D
(2) A and C
(3) B and C
(4) C and D

32. Assertion (A): The primary motive of a company in using financial leverage is to
magnify shareholders' return under favourable economic conditions.
Reason (R): To magnify shareholders' return fixed charges funds can be obtained at a cost
higher than the firm's rate of return on net assets.
Codes:
(1) (A) is correct and (R) is the correct explanation of(A) .
(2) (A) is correct, but (R) is wrong.
(3) (R) is correct, but (A) is wrong.
(4) Both (A) and (R) are wrong.

33. Debt financing is a cheaper source of finance because of

(1) Time value of money
(2) Rate of interest
(3) Tax deductibility of interest
(4) Dividends are not payable to lenders

34. Which of the following is not true with reference to capital budgeting?
(1) Capital budgeting is related to asset replacement decisions.
(2) Cost of capital is equal to minimum required rate of return.
(3) Timing of cash flows is relevant.
(4) Existing investment in a project is not treated as sunk cost.

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35. Which of the following statements is not correct?

(1) The cost of capital is required rate of return to ascertain the value of the firm.
(2) Different sources of funds have a specific cost of capital related to that source only.
(3) Cost of capital does not comprise any risk premium.
(4) Cost of capital is basic data for NPV technique.

36. Which of the following is not the quality of human resources in any organization ?
(1) Their behaviour to stimuli is often inconsistent and unpredictable.
(2) They depreciate with passage of time in terms of skills.
(3) They are heterogeneous.
(4) Retaining qualified human resources is a challenge for managers.

37. Human Resource Planning benefits to an organization are reflected in which of the
combination of the following?
a. Balance between demand and supply of human resources.
b. Non-compulsion on management to assess critically and continuously the employees
and personnel policies.
c. Duplication of efforts and conflicts are avoided.
d. Minimizing the future returns on investment in human resources.
Codes:
(1) a and b
(2) a and c
(3) a, b and c
(4) a, e and d

38. A statement containing items such as job title, location, summary, duties, materials
used, working conditions etc., is called
(1) Job specification
(2) Job evaluation
(3) Job description
(4) Job analysis

39. Match List-I with List-II relating to theory of wages.

List - I (Wage Theory) List - II (Propounder)
a. Wage Fund Theory I. John Davidson
b. Subsistence Theory ii. David Recardo
C. Residual Claimant Theory iii. Adam Smith
d. Bargaining Theory of Wages iv. Francis Walker
Codes:
abcd
(1) ii iv i iii
(2) iii ii iv i
(3) iv i iii ii
(4) ii iii iv i

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40. Which organizational analysis method is used, among the following, to develop various
efficiency indices relating to contribution of human capital in meeting the organizational
goals?
(1) Objectives analysis
(2) Resource utilization analysis
(3) Task analysis
(4) Organizational climate analysis

41. Match the items of List-I with the items of List-II regarding evaluation of project
application and suggest the correct code.
List – I List – II
a. Managerial Appraisal i. Analysis of working results.
b. Economic Appraisal ii. Disposal of factory effluents.
c. Financial Appraisal iii. Analysis about traits of an entrepreneur
d. Technical Appraisal iv. Analysis on employment potential
Codes:
abcd
(1) i ii iv iii
(2) ii i iii iv
(3) iii iv i ii
(4) iv iii ii i

42. Match the items of Column-I with the items of Column-II and suggest the correct
code.
Column - I Column - II
a. Relationship Banking i. Dealing in hundis and acceptance of
deposits.
b. Merchant Banking ii. Widening the entrepreneurial base and
assist in a rapid rate of industrial growth.
c. Indigenous Banking iii. Engaged in the business of Issue
Management.
d. Development Banking iv. Creating, maintaining and enhancing
strong relationship with customers.
Codes:
abcd
(1) iv ii i iii
(2) ii iv iii i
(3) iv iii i ii
(4) ii i iv iii

43. In which year, IFCI Act was amended in order to make it possible to provide
assistance, inter alia, for medical, health or other allied services ?
(1) 1960
(2) 1970
(3) 1973
(4) 1986

44. SIDBI was set up as a subsidiary of IDBI to

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(1) Take over the functions of small business financing of IDBI.
(2) Take over the venture capital operations of ICICI.
(3) Reconstruct and rehabilitate the sick and closed industrial units financed by IDBI.
(4) Facilitate, finance and promote India's Foreign trade.

45. Letters of credit, Guarantees, Forward Contracts etc., come under which one of the
following?
(1) Liabilities of a bank
(2) Assets of a bank
(3) Foreign exchange items of a bank
(4) Off-balance sheet items of a bank

46. Consider the following statements with regard for the "Theory of Absolute Cost
Advantage":
(i) Productive efficiency differed among different countries because of diversity in natural
and acquired resources possessed by them.
(ii) The difference in natural advantage manifests in varying climate, quality of land,
availability of minerals, water and other resources.
(iii) The difference in acquired resources manifests in different levels of technology and
skills available.
Identify the correct code from the following:
(1) Statement (i) is correct, but (ii) and (iii) are incorrect.
(2) Statements (i) and (ii) are correct, but (iii) is incorrect.
(3) All the statements (i), (ii) and (iii) are correct.
(4) None of the statements is correct.

47. Match the items of List-I with List-II and indicate the correct code.
List-I List-II
a. Absolute Cost Advantage i. The empirical evidence based on US export of
Theory labour intensive goods challenging the
factor endowment theory.
b. Comparative Cost Advantage Theory ii. A country having a direct cost advantage in
the production of a product on account of
greater efficiency.
с. Factor Endowment Theory iii. A country should produce and export a
commodity that primarily involves a factor of
production abundantly available within the
country.
d. Leontief Paradox iv. A country should specialize in the production
and export of a commodity in which it possesses
greatest relative advantage.
Codes:
abcd
(1) ii iv iii i
(2) ii iv i iii
(3) ii i iii iv
(4) i iv iii ii

48. Match the items of List-I with List-II and indicate the code of correct matching:

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List - I List - II
a. Accommodating capital flow i. Creation of international reserve assets by the IMF
and their allocation among member countries in
order to improve international liquidity.
b. Autonomous capital ii flow ii. Estimate of foreign exchange flow on account of
either variations in the collection of related figures or
unrecorded illegal transactions of foreign exchange.
c. SDR Allocation iii. Inflow of foreign exchange to meet the balance of
payments deficit, normally from the IMF.
d. Statistical discrepancy iv. Flow of loans/investments in normal course of
business.
Codes:
abcd
(1) i ii iv iii
(2) iii iv i ii
(3) iii iv ii i
(4) iii i ii iv

49. Statement I: TRIMS agreement refers to conditions or restrictions imposed on foreign

investors. operations
Statement II : TRIMS agreement specifically forbids imposing restrictions on of an
enterprise which result in protecting domestic products and making imports
disadvantageous,
Codes:
(1) Statement I is correct, but II is incorrect.
(2) Statement II is correct, but I is incorrect.
(3) Both the statements I and II are correct.
(4) Both the statements I and II are incorrect.

50. Assertion (A): Revenue from indirect taxes was the major source of tax revenue till tax
reforms were taken during nineties.
Reason (R): Traditionally India's tax regime relied heavily on indirect taxes including
customs and excise.
Codes:
(1) (A) and (R) both are correct, but (R) is not the correct explanation of (A).
(2) (A) is correct, but (R) is not correct.
(3) (A) and (R) both are correct and (R) is the correct explanation of (A).
(4) (A) and (R) both are incorrect.

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ANSWERS
1 2 11 3 21 2 31 2 41 3
2 2 12 2 22 2 32 2 42 3
3 3 13 4 23 1 33 3 43 4
4 * 14 4 24 2 34 4 44 1
5 1 15 3 25 4 35 3 45 4
6 3 16 3 26 4 36 2 46 3
7 4 17 2 27 2 37 2 47 1
8 2 18 4 28 1 38 3 48 2
9 1 19 3 29 1 39 2 49 3
10 1 20 1 30 3 40 2 50 3

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UGC NET PYQ COMMERCE JANUARY 2017 PAPER -

III
1. Put the following steps of strategic Management Process in correct sequence:
a. Scanning and Evaluation of Business Environment
b. Formulating strategies
c. Implementation of Corporate Strategy
d. Deciding about the Mission of the organisation
e. Setting Corporate Level Objective
Codes:
(1) a, b, c, d and e
(2) d, a, b, c and e
(3) d, a, e, c and b
(4) d, a, e, b and c

2. Match the items of List-I with those of List-II and indicate the code of correct matching.
List - I List - II
a. Indian Railways i. Government Company
b. Unit Trust of India ii. Department Undertaking
c. Bharat Heavy Electricals Limited iii. Statutory Corporation
Codes:
(a) (b) (c)
(a) 1 2 3
(b) 2 3 1
(c) 2 1 3
(d) 3 2 1

3. Identify the correct statement from the following:

(1) The liability of the Karta is limited.
(2) A joint Hindu family business continues to exist on the death of a co-partner.
(3) A joint Hindu family business ceases to exist on the death of the Karta.
(4) A joint Hindu family business comes into existence by Hindu law.

4. Statement I: "Working in harmony with the community and environment around us

and not cheating our customers and workers we might not gain anything in the short run
but in the long term it means greater profits and shareholders value".
Statement II: According to Mahatma Gandhi, capitalist class owns wealth or capital as
trustees of the society.
Codes:
(1) Statement I is correct, but II is incorrect.
(2) Statement II is correct, but I is incorrect.
(3) Both the statements I and II are incorrect.
(4) Both the statements I and II are correct.

5. Match the items of List-I with items of List-II and indicate the code of correct matching.
List - I List - II
a. Principle of Separate Entity i. Valuing Plant and Machinery at cost less
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depreciation.
b. Principle of Conservatism ii. Recording punctuality and honesty of
employees of an organization.
с. Principle of Money Measurement iii. Capital contributed by proprietor is
shown as liability in Balance Sheet.
d. Historical cost concept iv. Valuing inventories at cost or market
price whichever is less.
Codes:
abcd
(1) iii ii i iv
(2) iii iv ii i
(3) iv iii i ii
(4) iii i ii iv

6. Which of the following is not true?

(1) When all the forfeited shares are not reissued, the forfeited shares account will also
show as credit balance equal to gain on forfeiture of shares not yet reissued.
(2) Loss on reissue of shares cannot be more than gain on forfeiture of those shares.
(3) At the time of forfeiture of shares, securities premium is debited along with share
capital when premium has not been received.
(4) When forfeited shares are issued at premium, the premium amount is credited to
Capital Reserve Account.

7. Preparation of consolidated Balance Sheet of Holding Company and its subsidiary

company is done as per
(1) AS 11
(2) AS 21
(3) AS 22
(4) AS 23

Amount due to outgoing partner is shown in the balance sheet as his 8.

(1) Liability
(2) Asset
(3) Capital
(4) Loan

9. Match the items of List-I with items of List-II and indicate the code of their correct
matching.
List-I List-II
a. Non-price quantity relationships of i. Extension and contraction of demand.
demand.
b. Income effect of a price rise greater than ii. ordinal utility approach.
its substitution effect.
c. Transitivity and consistency of choices. iii. Increase and decrease in demand.
choices.
d. Price-quantity relationships of demand. iv. Giffen goods

Codes:
abcd

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(1) iv ii iii i
(2) ii i iv iii
(3) iii iv ii i
(4) i ii iii iv

10. The short-run cost function of a firm is as follows:

TC = 200 + 5Q + 2Q2
Where TC = Total Cost
Q=Physical units of the product of the firm
What would be the level of optimum output
(1) 05
(2) 10
(3) 12
(4) 15

11. Short-run demand and total cost functions for a monopoly firm are as under:
Demand function: Q = 100 - 0.2P
Price function P = 500 - 5O
Cost function TC = 50 + 20Q + Q2
Where Total quantity of the product in physical units. Q = P Price of the product per unit
TC = Total cost
What is the profit maximizing output of the pure monopoly firm?
(1) 20
(2) 35
(3) 40
(4) 15

12. In which one of the following market situations, the pricing above the prevailing
market price is used as a more common practice ?
(1) Markets where the selling firms face perfect competitive situations.
(2) Markets where the selling firms want to gain popularity of the products having high
cross elasticity of their demand.
(3) Markets where sellers rely on their customers high propensity to consume a
prestigious commodity.
(4) Markets where the selling firms have entered into the stages of maturity and
saturation.

13. Which one of the following statements is false regarding normal distribution ?
(1) Mean, Median and Mode always coincide.
(2) Within plus/minus 1.96 o limits from Mean value, the area under the distribution is
99 percent of the total area.
(3) The area under the normal curve represents probabilities for the normal random
variable and the total area for the normal probability distribution is one.
(4) For every pair of values of Mean and Standard deviation, the curve of the distribution
is bell-shaped and symmetric.

14. If unexplained variation between variables X and Y is 36%, what is the coefficient of

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correlation between the variables?
(1) 0.36
(2) 0.64
(3) 0.60
(4) 0.80

15. Which one of the following is the formula to calculate standard error of mean
differences of two sample groups ?

16. A researcher wants to test the significance of the difference between the average
performance of the two small sized samples when the information of the population
standard deviation is not available, which one of the following hypothesis-testing is
suitably used?
(1) Z-test
(2) Chi-square test
(3) F-test
(4) t-test

17. Which of the following statements are not correct? Indicate the correct code.
Statement I: Organizational culture means the general pattern of behaviour, belief and
values that organization members have in individuality.
Statement II: As per contingency theory of Leadership, people become leader only because
of the demand of group members.
Statement III : The group judgement can only be obtained through the formal committees.
Statement IV: Ombudsperson in communication function is a person assigned to
investigate employee concerns and providing valuable upward communication link.
Codes:
(1) Statements I, II and IV
(2) Statements I, III and IV
(3) Statements I, II and III
(4) Statements II, III and IV

18. Assertion (A): The organization is a closed system that operates within and interacts
with the external environment.
Reasoning (R): The system approach to management includes the outputs from the
external environment on the basis of interactions between management and employees.
Codes:
(1) (A) and (R) are correct and (R) is the correct reasoning of (A).

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(2) (A) and (R) are correct, but (R) is not the correct explanation of (A).
(3) (A) is incorrect while (R) is a correct statement.
(4) Both (A) and (R) are incorrect.

19. Match List-I with List-II relating to corporate ethics and indicate the code of their
correct matching.
List-I List - II
a. Utilitarian theory i. Behaviour guiding statements.
b. Code ii. Making public known about unethical
company practices.
c. Whistle blowing iii. Society with varied interest groups.
d. Pluralistic society iv. Evaluation of plans with its
consequences
Codes:
abcd
(1) i iii iv ii
(2) ii iii iv i
(3) iii i ii iv
(4) iv i ii iii

20. Find out the correct sequence of planning function of the following elements:
a. Diagnosis of opportunity
b. Establishing objectives
c. Indentifying and comparing alternatives
d. Formulating derivative plans
e. Choosing an alternative
Codes:
(1) a, c, b, e, d
(2) b, e, a, c, d
(3) a, b, c, e, d
(4) a, b, c, d, e

21. Creating the capability of making purchases directly from a firm's website is known as
(1) Electronic Networking
(2) Electronic Transactions
(3) Electronic Data Interchange
(4) Electronic Information Transfer

22. For the following two statements of Assertion (A) and Reasoning (R) indicate the
correct code:
Assertion (A): The self image could be an individual's own perceived image and actual
image based on how others perceive the individual.
Reasoning (R): Large number of products like credit cards, automobiles, readymade
garments, designer ware, cosmetics and perfumes are bought due to self image and
demographic variables like income may not be important in purchase decisions for these
products.
Codes:
(1) (A) and (R) both are not correct.

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(2) (A) is correct, but (R) is not correct.
(3) (A) is correct and (R) is correct explanation for (A).
(4) (A) is not correct, but (R) is correct.

23. Match the media factors given in List-I with examples given in List-II and indicate the
code of current matching.
List-I List-II
a. Media class i. Prime time at 9:00 PM, full page ad of
Honda City
b. Media vehicles ii. Magazine, T.V., Radio
c. Media option iii. Flighting, Pulsing
d. Scheduling & timing iv. Times of India, T.V. serial Bhabhi Ji
Ghar Pe Hain
Codes:
(a) (b) (c) (d)
(a) 2 4 1 3
(b) 3 1 4 2
(c) 1 2 4 3
(d) 4 2 3 1

24. In integrating specialist functions of product management with the line function of
sales as major challenge to top management can be achieved by which type of marketing
organization ?
(1) Functional organization
(2) Territorial organization
(3) Matrix organization
(4) None of the above

25. Assertion (A): The important aspect of dividend policy is to determine the amount of
earnings to be distributed to shareholders and the amount to be retained in the firm.
Reasoning (R): Dividend policy of the firm has its effect on both the long term financing
and the wealth of shareholders.
Codes:
(1) (A) and (R) both are correct and (R) is the correct explanation of (A).
(2) (A) and (R) both are correct, but (R) is not the correct explanation of (A).
(3) (A) is correct, but (R) is wrong.
(4) (R) is correct, but (A) is wrong.

26. Match the items in List-I with items in List-II and indicate the code of correct
matching:
List-I List-II
a. ABC Inventory Control i. Developing ancillary units around the manufacturing sites
System and supplying parts to manufacturing units.
b. Just-in-time (JIT) ii. Enables a company to easily track large items of
System inventory.
c. Out sourcing System iii. It eliminates the necessity of carrying large inventories
and saves carrying cost.
d. Computerized Inventory iv. Tends to measure the significance of each item of
Control System inventories in terms of its value.
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Codes:
(a) (b) (c) (d)
(a) 2 3 1 4
(b) 4 2 3 1
(c) 4 3 1 2
(d) 3 1 2 4

27. In certainty-equivalent approach, risk adjusted cash flows are discounted at (2)
Internal Rate of Return
(1) Accounting Rate of Return
(2) internal rate of return
(3) Hurdle Rate
(4) Risk-free Rate

28. That personal leverage can replace corporate leverage' is assumed by

(1) Traditional Approach
(2) MM Model
(3) Net Income Approach
(4) Net Operating Income Approach

29. Match the List-I with List-II relating to Human Resource Planning activities and
indicate the code of correct matching.
List-I List-II
a. Forecasting i. Optimal employment
b. Inventorying ii. Development activities
c. Anticipating manpower problems iii. Mathematical projections of industrial
trends
d. Planning programs iv. Projecting present resources into future
Codes:
(a) (b) (c) (d)
(a) 2 1 4 3
(b) 1 4 3 2
(c) 4 2 1 3
(d) 3 1 4 2

30. Which council was established in India by Government of India in the year 1966 to
promote safety consciousness among workers in industries ?
(1) Factory Advise Council
(2) National Safety Council
(3) National Industrial Council
(4) Safety Regulations Council

31. Assertion (A): Recruitment is positive while selection is negative in its application.
Reasoning (R): Recruitment aims at increasing the job seekers while selection rejects a
large number of unqualified applicants.
Codes:(1) (A) is correct, but (R) is not correct.
(2) (A) and (R) both are correct, but (R) is not the right explanation of (A).
(3) (A) and (R) both are correct and (R) is the right explanation of (A).

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(4) (A) and (R) both are incorrect.

32. Match the List-I with List-II relating to Social Security measures in India and indicate
the code of correct matching.
List-I List-II
a. Social Assistance i. Payable to workers in accidents & injuries
during employment.
b. Social Insurance ii. Covers individual risks primarily.
c. Commercial Insurance iii. Maternity benefits.
d. Workmen's Compensation iv. Provident Funds
Codes:
(a) (b) (c) (d)
(a) 3 4 2 1
(b) 4 3 2 1
(c) 4 3 1 2
(d) 2 1 3 4

33. Match the following items of List-I with the items of List-II and indicate the code of
correct matching.
List-I (Name of Bank) List - II (Year of establishment)
a. IFCI i. 1981
b. SIDBI ii. 1982
c. NABARD iii. 1948
d. EXIM Bank iv. 1990
Codes:
(a) (b) (c) (d)
(a) 3 1 2 4
(b) 4 2 3 1
(c) 4 3 2 1
(d) 3 4 2 1

34. With a view to encourage newer classes of entrepreneurs and bringing about wider
dispersal of ownership and control of industrial undertakings, IDBI operates a special
scheme for supplementing the equity contribution to projects made by small and new
entrepreneurs. This scheme is known as
(1) Bridge Loan Scheme
(2) Soft Loan Scheme for Modernisation
(3) Technical Development Fund Scheme
(4) Seed Capital Assistance Scheme

35. Which one of the following is not the objective of UTI ?

(1) To give everyone a chance to indirectly own shares and securities in a large number of
select companies.
(2) To maximise mobilisation of people's savings by making insurance linked savings
adequately attractive.
(3) To channelize the pooled savings into productive outlets.
(4) To mobilise savings of the community by offering savers the triple benefits of safety,
liquidity and profitability of investments.

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36. Under which of the following schemes, the IFCI procures equipment for an actual-user
industrial concern by making payment to the machinery/equipment supplier, and then
resells/transfers the equipment to the actual-user-industrial concern at the same cost,
subject, however, to any liability arising out of taxes and other levies, being put to the
account of the actual user industrial concern?
(1) Equipment Credit Scheme
(2) Equipment Procurement Scheme
(3) Equipment Finance Scheme
(4) Scheme of Equipment Leasing

37. Match the items of List-I with List-II and denote the code of correct matching.
List-I List-II
a. International Bank for Reconstruction i. 1945
and Development
b. International Finance Corporation ii. 1956
c. Asian Development Bank iii. 1966
d. Export-Import Bank of India iv. 1981
Codes:
abcd
(1) i ii iii iv
(2) iv iii ii i
(3) i iii ii iv
(4) ii i iv iii

38. Assertion (A) International Finance Corporation (IFC) contributes to increase

sustainable agriculture opportunities, improve health and education and increase access
to financing for micro finance and business client.
Reasoning (R): The IFC has focused on a set of development goals to ensure that its
projects are expected to achieve the target.
Codes:
(1) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
(2) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(3) (A) is correct but (R) is incorrect.
(4) Both (A) and (R) are incorrect.

39. Under TRIPS Agreement, patent is granted subject to which of the following?
a. The product or the process is new one.
b. It contains an inventive step.
C. It is capable of industrial application for 15 years from the grant of the patent.
d. It is capable of industrial application for 20 years from the grant of the patent.
Codes:
(1) Only a and b
(2) Only a, b and c
(3) Only a, b and d
(4) Only a and d

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40. Statement I: During the period of prosperity, prices of goods fall and income of people
go down. These changes in incomes of the people and prices of goods affect exports and
imports of goods and thereby influence the balance of payments.
Statement II: Secular disequilibrium in balance of payments occur because of short-run
changes in an economy.
Codes:
(1) Statement I is correct, but II is incorrect.
(2) Statement II is correct, but I is incorrect.
(3) Both the statements I and II are correct.
(4) Both the statements I and II are incorrect.

41. Which of the following correctly depicts differences between a merger and an
acquisition of stock?
(1) An acquisition of stock results in the total absorption of a firm whereas a merger does
not.
(2) In case of a merger, the firm can deal directly with the shareholders of the acquired
firm but not in the case of acquisition of stock.
(3) Shareholders of the acquired or target firm vote by their response to a tender offer in
an acquisition of stock but cast a formal vote in a merger situation.
(4) A formal vote by the acquired firm's shareholders is required for an acquisition of stock
but not for a merger.

42. Match the items of List-I with the items of List-II and indicate the correct code:
List-I List-II
a Value added Model i. It is based on the process audit thereby evaluating the corporate
social performance.
b. Bauer-Fenn Model ii. It takes into account the social benefits and costs.
c. ABT Model iii. It reflects the impact of a business enterprise on its employees,
the local communit and the public at large.
d. ESTs Model iv. It shows the value added by the value of production of socially
desirable outputs minus the value of socially undesirable effects.
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
(b) 4 1 3 2
(c) 4 3 2 1
(d) 4 1 2 3

43. You are given the following information:

X-Security Market-Security
Expected Return (%) 15 12
Standard Deviation of the 6 4
return (%)
Coefficient of Correlation 0.4
between the returns
What is the Beta-coefficient of security X to measure its systematic risk?
Codes:
(1) 1
(2) 1.5
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(3) 0.6
(4) 0.4

44. Lease which includes a third party (a lender) is known as

(1) Direct lease
(2) Sales and lease-back
(3) Leveraged lease
(4) Inverse lease

45. Which of the following activities should be shown separately in the cash flow
statement prepared as per Accounting Standard-3?
A. Cash flow from borrowing activities.
b. Cash flow from operating activities.
c. cash flow from financing activities.
d. Cash flow from investing activities.
e. Cash flow from miscellaneous activities.
Cash flow from financing activities.
Codes:
(1) a, b, c
(2) a, c, e
(3) b, c, d
(4) a, b, e

46. Which of the following statements is correct?

(1) The oldest stock exchange of India is OTCEI.
(2) Sensex is an index number of 30 scrips.
(3) In book-building process, the price of the security is announced by the company.
(4) Futures and options in shares are traded at all stock exchanges of India.

47. Match the items of List-I (Developers) with the items of List-II (Methods of measuring
human assets) and indicate the correct code:
List-I List - II
a. Hekimian and Zones i. Stochastic Rewards Valuation Model
b. Hermanson ii. Competence Bidding Method
c. R. Likert iii. Adjusted Discounted Future Wages Model
d. Flamholtz iv. Behavioural Variables Model
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
(b) 2 3 4 1
(c) 4 3 1 2
(d) 3 4 2 1

48. The concept of achieving maximum profits through increased consumer satisfaction
for raised market share focuses on
(1) Product
(2) Selling
(3) Customer

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(4) Production

49. Which of the following is not a measure for quality of service for consumer ?
(1) Responsiveness
(2) Competition
(3) Empathy
(4) Tangibility

50. Which of the following is not a targeting strategy ?

(1) Standardization
(2) Differentiation
(3) Focus
(4) All of the above

51. Match the items of List-I with items of List-II and indicate the code of correct
matching.
List - I List - II
a. Real Needs i. Expecting good service from car dealer.
b. Unstated ii. Customer expects to be seen by his friends as value-oriented savvy
Needs consumer.
c. Delight Needs iii. Customer wants car at low operational cost and not initial cost.
d. Secret Needs iv. Customer receives free insurance on purchase of car.
Codes:
(a) (b) (c) (d)
(a) 3 1 4 2
(b) 1 3 2 4
(c) 2 4 1 3
(d) 4 2 1 3

52. Statement I: The firm should "stick to its niching" but not necessarily to its niche.
Statement II: Multiple niching is not preferable to single niching.
Codes:
(1) Both the Statements are true.
(2) Both the Statements are false.
(3) Statement I is true, but Statement II is false.
(4) Statement II is true, but Statement I is false.

53. A descriptive thought that a person holds about something is called

involvement/detachment and
(1) Belief
(2) Learning
(3) Attitude
(4) Perception

54. Deferment, Autonomy of object, use of the common place, use of metaphor are
description of which of the following technique ?
(1) Brainstorming
(2) Synectics

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(3) Forced Relationship
(4) Attribute listing

55. Which of the following statements are correct? Indicate the correct combination:
A well motivated individual tends to experience a low degree of morale. a.
b. A group characterized by a high state of morale may or may not have a high degree of
motivation to perform.
c. Morale can always be built up by a combination of rewards and penalties.
d. Organizations, in general, devote more direct attention towards motivational aspects of
people's behaviour than the aspects of morale.
Codes:
(1) a, b and d
(2) e and d only
(3) a, c and d
(4) band d only

56. Assertion (A): Organizations are increasingly getting de-jobbed.

Reasoning (R): Jobs are becoming more amorphous and more difficult to define.
Codes:
(1) (A) and (R) both are correct but (R) is not the right explanation of (A).
(2) (A) and (R) both are not correct.
(3) (A) is correct, but (R) is incorrect.
(4) (A) is correct and (R) is right explanation of (A).

57. Which of the following statements relating to incentive payments is correct?

(1) In Halsey incentive plan, bonus paid to a worker is equal to 50 percent of time saved
divided by rate per hour.
(2) In Rowan incentive plan, bonus paid to employee is equal to the proportion of the time
saved to the standard time.
(3) In Taylor's differential piece rate system, a worker whose output exceeds standard
output is paid 100 per cent of piece rate and a worker whose output falls short of
standard is paid only 50 percent of piece rate.
(4) The Rowan incentive plan is the base of all other incentive, payment plans.

58. Match the most common rating errors made during performance appraisal with their
right explanations. Indicate the code of correct matching.
List – I (Common Rating Errors) List-II (Description)
a. Leniency i. Subjective assessment
b. Halo error ii. One aspect of individual's performance
influence his entire performance
c. Spillover effect iii. Past performance appraisal ratings
unjustifiably influencing current ratings.
d. Rater effect iv. Favoritism and stereotyping
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
(b) 2 3 4 1
(c) 3 4 2 1

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(d) 4 3 2 1

59. Which one of the following industrial relations approach believes in state intervention
via legislation and the creation of industrial tribunals as supporting management's
interest rather than ensuring a balance between the competing groups ?
(1) Unitary approach
(2) Pluralistic approach
(3) Marxist approach
(4) Judiciary approach

60. What is the term coined for the system of communication and consultation, either
formal or informal, by which workers of an organization are kept informed, as and when
required, about the affairs of the undertaking and through which they express their
opinion and contribute to decision-making process of management ?
(1) Collective Bargaining
(2) Empowerment
(3) Workers' participation in management
(4) Welfare state

61. Match the items of List-I with those of List-II with regard to operative functions of
HRM and indicate the code of correct matching.
List-I List-II
a. Procurement i. Performance appraisal
b. Development ii. Discipline
c. Integration iii. Induction
d. Maintenance iv. Personnel research
Codes:
(a) (b) (c) (d)
(a) 2 1 4 3
(b) 1 4 3 2
(c) 3 1 2 4
(d) 2 3 1 4

62. What is the popular term used for that type of option in Foreign Exchange Market
which provides the holder the right to purchase or sell foreign currency at the most
favorable exchange rate realized over the life of the option?
(1) Forward reversing option
(2) Preference option
(3) Look back option
(4) Basket option

63. What is the term used popularly for the situation when a speculator, being dominant
in the market, expects a drop in the value of a particular currency and he begins selling it
forward?
(1) International Fisher Effect
(2) Bandwagon Effect
(3) Interest Rate Parity Effect
(4) Relative Version Effect

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64. Identify the correct statement.

(1) The Maastricht Treaty signed in February 1992 renamed European Community (EC) as
European Economic Community (EEC).
(2) The main objective of the formation of ASEAN Free Trade Area in 1993 was to soften
the restrictions on the movement of professionals in the region and helping poorer
countries.
(3) The SAARC is a regional grouping scheme among Six South Asian Countries.
(4) The European Union, including European Monetary Union, was the biggest and most
important regional integrative scheme.

65. Match List-I with List-II relating to benefits and cost of economic integration and
identify the code representing correct matching.
List-I List-II
a. Trade creation i. Movement of production and resources in opposite directions.
b. Trade diversion ii. Become active when a member country does not augment export
but simply shifts its imports from low cost source to high cost
source.
c. Trade deflection iii. Shifting the locus of production from high cost to low cost centre
within the union.
d. Polarisation iv. Goods produced in a third country entering a free trade area
forces through a member country having lower tariff.
Codes:
(a) (b) (c) (d)
(a) 2 3 4 1
(b) 2 4 1 3
(c) 3 1 4 2
(d) 3 2 1 4

66. What is the situation referred to as, amongst the following, when intra-region trade is
duty free but there is variation in tariff structure for import from a third country?
(1) Customs Union
(2) Common Market
(3) Free Trade Area
(4) Economic Union

67. Which of the following statements is not correct relating to comparison of FDI with
trade ?
(1) Only one market can better be served with differentiated products.
(2) FDI overcomes tariff and transport cost involved in trade.
(3) It reduces financial risk through greater diversification.
(4) It creates harmonious political relations.

68. Match List-I with List-II regarding the grouping of Multi-national Corporations and
identify the code representing correct matching.
List - I (Type of MNC) List - II (Basic feature)
a. Ethnocentric firms i. Maintain a balance in home and host market oriented policy.
b. Polycentric firms ii. Seldom distinguish between domestic & global operation

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policies.
C. Geo-centric firms iii. Follow a host market policy.
Codes:
(a) (b) (c)
(a) 3 1 2
(b) 3 2 1
(c) 2 3 1
(d) 2 1 3

69. An equipment was acquired at a cost of ₹10 lacs and was put to use in Scientific
Research. After one year of research the equipment was brought into another business of
the assessee. For charging depreciation, Block of Assets shall be increased by
(1) ₹10 lacs.
(2) Market value of the equipment on the date it was brought into another business.
(3) Cost or market value of the equipment, whichever is less.
(4) NIL.

70. If an assessee is engaged in the business of growing and manufacturing tea in India,
the portion of agricultural income in that case shall be
(1) 100%
(2) 60%
(3) 50%
(4) 40%
71. Which of the following statements is not correct?
(1) X is an individual assessee. He pays a monthly rent of ₹10,000 pm. He cannot deduct
tax at source.
(2) On salaries, tax is deducted at source according to provisions of Sec. 192.
(3) No tax is deducted at source in respect of interest on securities issued by a domestic
company.
(4) Bank will deduct tax at source @ 10% if bank fixed deposit's interest credit is more
than ₹10,000 in a year.
72. X donated ₹20,000 to a charitable institution, which is eligible for deduction u/s 80 G,
during the financial year 2015-16. His total income during the period was ₹1,50,000. How
much deduction he can claims u/s ) G ?
(1) ₹7,500
(2) ₹10,000
(3) ₹15,000
(4) ₹20,000

73. X is employed in a private company at a salary of ₹70,000 per month and ₹10,000 per
month as dearness pay. He received ₹2,000 per month as house rent allowance. He paid
2,500 per month as house rent. What is the exempted portion of house rent allowance ?
(1) ₹2,500
(2) ₹2,000
(3) ₹1,000
(4) NIL
74. Surcharge is payable by an individual where the total income exceeds

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(1) 10 lacs
(2) ₹25 lacs
(3) 50 lacs
(4) ₹1 crore

75. Which one of the following statements is not correct?

(1) A person may not have assessable income but still be an assessee.
(2) In some cases, the assessment year and the previous year can be same.
(3) An Indian company is always resident assessee.
(4) Surcharge is additional tax calculated on total income.

ANSWERS
1 4 16 4 31 3 46 2 61 3
2 2 17 3 32 1 47 2 62 3
3 * 18 4 33 4 48 3 63 2
4 4 19 2 34 4 49 2 64 4
5 2 20 3 35 2 50 4 65 3
6 4 21 2 36 2 51 1 66 3
7 2 22 3 37 1 52 3 67 1
8 4 23 1 38 2 53 1 68 3
9 3 24 3 39 3 54 2 69 4
10 2 25 1 40 1 55 4 70 2
11 3 26 3 41 3 56 4 71 3
12 3 27 4 42 2 57 2 72 1
13 2 28 2 43 3 58 1 73 4
14 4 29 4 44 3 59 3 74 4
15 2 30 2 45 3 60 3 75 4

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UGC NET PYQ COMMERCE JULY 2016 Paper - II

1. For the following statements of Assertion (A) and Reasoning (R) indicate the correct
code from the alternatives given:
List - I List - II
a. Fiscal Policy i. Mitigation of National hazards
b. Technology Policy ii. Balance of Payment
C. Macro-Economic Policy iii. Fiscal Federalism
d. Monetary Policy iv. Inflation
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
(b) 3 1 2 4
(c) 4 3 1 2
(d) 2 1 4 3

2. Match the items of List - I with List II and indicate the correct code:
Assertion (A): Liberalization means corporatisation of departmental undertakings and
public undertakings.
Reasoning (R): Freedom to public sector undertakings to access capital market.
Codes:
(1) Both (A) and (R) are true and (R) is correct explanation of (A).
(2) Both (A) and (R) are true but (R) is not a correct explanation of (A).
(3) (A) is true but (R) is false.
(4) (A) is false but (R) is true.

3. Which of the following factor is not directly responsible for slowing down the growth of
infrastructure ?
(1) High level of perceived political risk.
(2) High level of sunk cost.
(3) High probability of time and cost over-run.
(4) Introduction of competition in all sectors.

4. Out of the following which is not a major component of Gross Domestic Product (GDP)?
(1) Personal Consumption Expenditure
(2) Gross Private Domestic Investment
(3) Net Personal Income
(4) Net Exports

5. Which of the following is not a forum of Consumer Dispute Redressal System?

(1) Local forum
(2) District forum
(3) State Forum (State Commission)
(4) National Commission

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6. X Ltd. purchased 70 percent of the shares of Y Ltd. at a price of 1,00,000. Share capital
of Y Ltd. was of₹70,000 and its accumulated profits amounted to 90,000. What would be
the amount of Minority Interest in the consolidated Balance Sheet?
(1) ₹25,000
(2) ₹70,000
(3) ₹1,00,000
(4) ₹40,000

7. Match the items in Column - I with the items in Column - II and indicate the correct
code:

8. Ram and Shyam are partners in a firm with capital of 4,80,000 and ₹3,10,000, 1/4 * th
respectively. They admitted Ganesh as a partner with 3,00,000 as his capital. Ganesh's
share of goodwill will be share of profit. Ganesh brings
(1) ₹1,10,000
(2) ₹27,500
(3) ₹17,500
(4) ₹70,000

9. Which of the following is a deferred revenue expenditure?

(1) Legal expenses incurred on the purchase of land.
(2) Expenses on a mega advertisement campaign while launching a new product.
(3) Expenses incurred on installation of a new machine.

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(4) Wages paid for construction of an additional room in the building.

10. The amount of depreciation charged to Profit and Loss Account varies every year
under:
(1) Fixed instalment method
(2) Annuity method
(3) Diminishing balance method
(4) Insurance policy method

11. Ordinal utility analysis of the consumer's behaviour is considered superior to the
cardinal utility analysis mainly due to
(1) assumption of the rationality of the consumer's behaviour.
(2) possibility of the derivation of the consumer's demand.
(3) bifurcation of price effects into income and substitution effects.
(4) consideration of the available limited resources for satisfying consumer's demand.

12. For the following statements of Assertion (A) and Reasoning (R) indicate the correct
code:
Assertion (A): Price reduction normally leads to an increase in the demand for a
commodity.
Reason (R) : Price reduction leads to the entry of new buyers of the commodity in the
market.
Codes:
(1) (A) is correct but (R) is not correct.
(2) (A) is not correct but (R) is correct.
(3) Both (A) and (R) are correct and (R) offers full explanation of (A).
(4) Both (A) and (R) are correct but (R) does not offer full explanation of (A).

13. The minimum Long Run Average Cost (LAC) can be determined on a
I. LAC curve for a normal production function
II. LAC curve for a linear production function
III. Planning curve
IV. Envelope curve
Codes:

14. Monopoly is not considered desirable from the point of view of the society mainly
because the monopolist endeavours to
(1) earn net revenue on sale of all goods including those involving no cost of production.
(2) earn net revenue on sale of goods in short run as well as long run.
(3) charge different prices for the same product from the different categories of buyers.
(4) produce below economic capacity level when he exhibits satisfaction with normal profit
only.

15. Product-line pricing strategy includes which combination of the following?

I. Public utility pricing
II. Complementary goods pricing
III. Spare parts pricing
IV. Load factor pricing

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Codes:

16. When the data are classified only on the basis of descriptive characteristics which
cannot be quantified is known as
(1) Geographical classification
(2) Chronological classification
(3) Qualitative classification
(4) Quantitative classification

17. Which one of the following is a false description?

(1) In a moderately asymmetrical distribution, the empirical relationship between Mean,
Mode and Median suggested by Karl Pearson is Mean-Mode= 3 (Mean-Median)
(2) Coefficient of variation is an absolute measure of dispersion.
(3) Measure of skewness indicates the direction and extent of skewness in the distribution
of numerical values in the data set.
(4) Kurtosis refers to the degree of flatness or peakedness in the region around the mode
of a frequency curve.

18. Match the items of List I with the items of List II and indicate the code of correct
matching :

19. Statement-I: When the null hypothesis is true but as per the hypothesis-testing, it is
rejected, it is known as beta type error in hypothesis testing.
Statement-II: Chi-square test is exclusively a non-parametric test.
Codes:
(1) Both the statements are true.
(2) Both the statements are false.
(3) Statement - I is true while Statement - II is false.
(4) Statement - I is false while Statement - II is true.

20. Computers that recognize data as discrete signals are called?

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(1) Analog computers
(2) Digital computers
(3) Hybrid computers
(4) Super computers

21. Herbert Simon's concept of administrative man assumes that

(a) He has satisfying approach in decision making rather than the maximising approach.
(b) He can make decisions without determining all possible alternatives.
(c) He is completely rational in decision making.
(1) (a) only
(2) (b) only
(3) Both (a) and (b)
(4) (a), (b) and (c)

22. Which of the following statement(s) is/are correct about scalar chain principle as
given by Fayol ?
(a) Each communication, going up or down, must flow through each position in the line
authority.
(b) Chain of communication cannot be broken under any circumstances.
(1) Only (a) is correct.
(2) Only (b) is correct.
(3) Neither (a) nor (b) is correct.
(4) Both (a) and (b) are correct.

23. A mission statement should be

(a) Self-explanatory
(b) Elaborate
(c) Distinctive
(d) Feasible
Codes:
(1) (a) only
(2) (a) and (b)
(3) (a), (b) and (c)
(4) (a), (c) and (d)

24. Match List-I and List II and indicate the correct code:
a. Equity theory i. Motivation depends on ratios of inputs and outcomes of
self and others.
b. Vroom's theory ii. People are motivated to achieve a goal to the extent that
they expect that certain action will help them to reach the
goal.
C. Porter and Lawler model iii. There exists a complex relationship among motivation,
performance and satisfaction.
d. Herzberg's theory iv. A challenging job that has opportunities for
achievement, recognition, responsibility and growth will
motivate employees.
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
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(b) 2 1 3 4
(c) 3 2 1 4
(d) 1 3 2 4

25. Assertion (A): 'Grapevine' tends to be more active during periods of change,
excitement, anxiety and sagging economic conditions.
Reason (R) : Employees use this communication to fill in important information gaps and
clarify management decisions.
Codes:
(1) (A) is right and (R) is wrong.
(2) (A) is wrong and (R) is right.
(3) Both (A) and (R) are right and (R) explains (A).
(4) Both (A) and (R) are right but (R) does not explain (A).

26. Which type of differentiation is used to gain competitive advantage through the way a
firm designs its distribution coverage, expertise and performance?
(1) Channel differentiation
(2) Services differentiation
(3) People differentiation
(4) Product differentiation

27. Which one of the following is the most likely result of a marketing strategy that
attempts to serve all potential customers ?
(1) All customers will be delighted.
(2) Customer-perceived value will be increased.
(3) The company will need to follow up with a demarketing campaign.
(4) Not all customers will be satisfied.

28. Which of the following is not a primary activity in Michael Porter's value chain?
(1) Inbound logistics
(2) Operations
(3) Outbound logistics
(4) Procurement

29. Which of the following represents consistency of results when the test instrument is
used repeatedly?
(1) Validity
(2) Reliability
(3) Relativity
(4) Sensitivity

30. Assertion (A): Too many stimuli make a person accommodated to those sensations.
Sensory adaptation is a problem that concerns many advertisers, which is why they try to
change their advertising campaigns regularly.
Reason (R) : To cut through advertising clutter and to ensure that consumers perceive
advertisement, marketers try to increase sensory input.
Codes:
(1) (A) is right and (R) is wrong.

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(2) (A) is wrong and (R) is right.
(3) Both (A) and (R) are right but (R) does not explain (A).
(4) Both (A) and (R) are right and (R) explains (A).

31. Which of the following is not a feature of payback period method?

(1) It is simply a method of cost recovery and not of profitability.
(2) It does not consider the time value of money.
(3) It does not consider the risk associated with the projects.
(4) It is very difficult to calculate.

32. Which of the following is not a source of credit information of prospective customers ?
(1) Letter of credit
(2) Bank Reference
(3) Trade Enquiry
(4) Credit Bureau

33. The portion of earnings which is distributed among shareholders in the form of
dividend is called
(1) Proprietary Ratio
(2) Earnings-yield Ratio
(3) Payout Ratio
(4) Retention Ratio

34. Select the correct code regarding motives for holding inventories by firms:
(a) Transaction motive
(b) Environmental motive
(c) Precautionary motive
(d) Speculative motive
(e) Competitive motive
Codes:
(1) (a), (b), (c), (d)
(2) (a), (b), (d), (e)
(3) (a), (d), (e)
(4) (a), (c), (d)

35. Which of the following formulae is related to operating leverage?

Contribution
(1) Operating Profit
Sales −Variable Cost
(2) Earnings before Interest and tax
Percentage change in EBIT
(3) Percentage change in sales
(4) All of the above

36. Which of the following is not true in case of HRM?

(1) Employees are seen as an investment to be nurtured as well as a cost to be controlled.
(2) Conflicts are dealt with by team members within their teams.
(3) Preference is for collective bargaining of pay and working conditions.
(4) Emphasis is on competitive pay and conditions to stay ahead of competitors.

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37. Which one of the following is an advantage of Magazines as a source of recruitment?

(1) Less expensive
(2) Long lead time for advertisement placement
(3) Reach a diverse audience
(4) Many unmotivated applicants

38. Examine the following statements and choose the correct code:
Assertion (A): Human Resource planning must always be seen within the strategy making
context.
Reason (R) : Human Resource planning process removed from the realities of the business
will be a waste of time.
Codes:
(1) Both (A) and (R) are correct.
(2) Both (A) and (R) are wrong.
(3) (A) is correct, but (R) is wrong.
(4) (A) is not correct, but (R) is correct.

39. Match the items of List - I with the items of List II and select the correct code:
List-I List-II
a. Golden parachutes i. The right to purchase a stated number of shares of a
company stock at today's price at some time in the future.
b. Gain sharing ii. An incentive plan that engages employees in a common
effort to achieve productivity objectives and share the gains.
c. Stock-option iii. Payments companies make in connection with a change in
ownership or control of a company
d. Annual bonus iv. Plans designed to motivate short term performance of
managers and are tried to company profitability.
Codes:
(a) (b) (c) (d)
(a) 3 1 2 4
(b) 1 2 3 4
(c) 2 3 1 4
(d) 3 2 1 4

40. Which one of the following is not a function of plant council?

(1) Recommend and improve safety, health and welfare measures.
(2) Determination of productivity schemes taking into consideration the local conditions.
(3) Planning, implementation and review of monthly targets and schedules.
(4) Review of working of shop level bodies.

41. Assertion (A): "Banks globally are facing more challenges now, and Macro
sustainability is a necessity but not sufficient for sustainable economic growth."
Reason (R) : "Putting regulations in place is only one part and their implementation is
equally important for achieving growth and sustainability."
Codes:
(1) (A) and (R) both are true and (R) is correct explanation of(A) .
(2) (A) and (R) both are true but (R) is not the correct explanation of (A).

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(3) (A) is true and (R) is false.
(4) (A) is false and (R) is true.

42. Banking on telephone service includes:

(i) Automatic balance voice out
(ii) Inquiry all term deposit account
(iii) Direct cash withdrawi
(iv) Utility bill payment
(v) Voice out last five transactions
Codes:
(1) (i), (ii), (iii) and (v)
(2) (i), (ii), (iv) and (v)
(3) (ii), (iii), (iv) and (v)
(4) All (i), (ii), (iii), (iv) and (v)

43. Which one of the following banks currently ranks number one in India in terms of
market capitalization?
(1) State Bank of India
(2) I.C.I.C.I. Bank
(3) U.T.I. Bank
(4) I.D.B.I. Bank

44. Match the items of Column - I with the items in Column - II and suggest the correct
code:
Column - I Column - II
a. Interbank call market i. Money market
b. Commercial Bills ii. Promissory note
с. Commercial paper market iii. Short-term maturity
d. Treasury bills iv. Government papers
Codes:
(a) (b) (c) (d)
(a) 1 2 4 3
(b) 3 1 2 4
(c) 1 3 4 2
(d) 4 3 2 1

45. Match the items of List - I with List - II with regard to the BASEL III norms and select
the correct code:
List-I List-II
a. Pillar 1 i. Supervisory review process
b. Pillar 2 ii. Market discipline
с. Pillar 3 iii. Minimum regulatory capital requirements based on Risk Weighted Assets
(RWAs)
Codes:
Abc
(1) i ii iii
(2) i iii ii
(3) iii ii i

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(4) iii i ii

46. Assertion (A): Comparative cost theory is static in character.

Reason (R) : Comparative cost theory is based on fixed supplies of factors of production
Codes:
(1) (A) is correct, but (R) is incorrect.
(2) (R) is correct, but (A) is incorrect.
(3) (A) and (R) both are correct, but (R) is not the correct explanation of (A).
(4) (A) and (R) both are correct and (R) is the correct explanation of (A).

i. Exporters surrender foreign exchange to the central bank.

47. Match the items of List - I with List - II with regard to Balance of Payments
equilibrium:
List - I List-II
a. Exchange control i. Exporters surrender foreign exchange to
the central bank.
b. Trade Policy Measure ii. Bank rate raised by the central bank
c. Expenditure reducing policy iii. Reduction in foreign exchange rate
d. Expenditure switching policy iv. Enhancing exports by granting subsidies
Codes:
(a) (b) (c) (d)
(a) 1 4 2 3
(b) 1 2 3 4
(c) 3 2 4 1
(d) 4 3 2 1

48. Which among the following is closely associated with intellectual property rights ?
(1) GATS
(2) TRIMS
(3) TRIPS
(4) MFN

49. What is not correct about International Development Association (IDA)?

(a) Following earthquake in 2015, IDA has helped Nepal rebuild and recover.
(b) IDA ranks as the highest performing multilateral development bank in 2016.
(c) IDA is a subsidiary bank of IBRD.
(d) India has procured highest amount of international loan from IDA.
Codes:
(1) (a) and (b)
(2) (c)
(3) (d)
(4) (a) and (c)

50. As per the Foreign Trade Policy 2015-2020, a three star export house should have:

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(1) Export performance (FOB/FOR) of US $ 100 million during current and previous two
years.
(2) Export performance (FOB/FOR) of US $ 500 million during current and previous two
years.
(3) Export performance (FOB/FOR) of US $ 1000 million during current and previous two
years.
(4) Export performance (FOB/FOR) of US $ 2000 million during current and previous two
years.
ANSWERS
1 2 11 3 21 3 31 1 41 1
2 1 12 4 22 1 32 3 42 2
3 4 13 3 23 4 33 3 43 1
4 3 14 4 24 1 34 4 44 2
5 1 15 2 25 3 35 4 45 4
6 * 16 3 26 1 36 3 46 4
7 2 17 2 27 4 37 3 47 1
8 2 18 * 28 4 38 1 48 3
9 2 19 2 29 2 39 4 49 3
10 3 20 2 30 4 40 1 50 1

UGC NET PYQ COMMERCE JULY 2016 Paper - III

1. Read the following and select the right code:

Statement 1: A custom to be valid should be proved to be immemorial but may not be
ancient.
Statement-II: The principle of judicial decision which is only authoritative is known as
'ratio decidendi'.
(1) Both the statements are true.
(2) Both the statements are false.
(3) Statement - I is true but Statement - II is false.
(4) Statement - II is true but Statement - 1 is false.

2. To become a director in a company the person must obtain

(1) Business Licence
(2) Director's Licence
(3) TIN
(4) DIN

3. Which of following is not a "Maharatna" industry in India?

(1) CIL
(2) SAIL
(3) OIL
(4) GAIL

4. Match the items of Column - I with those of Column-II: Aaifer

Column-I Column-II
a. Exchange control i. Adverse BOP

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b. Price controlc. ii. Domestic firms
c. Import control iii. Mass consumption product
d. Legislative control iv. Industrial location
Codes:
(a) (b) (c) (d)
(a) 2 1 3 4
(b) 4 2 3 1
(c) 3 2 1 4
(d) 2 3 1 4

5. Match the items of List I with those of List II and choose the correct code:
List-I List - II
a. Provision for taxation i. Current Assets
b. Live-stock ii. Unsecured loans
c. Sundry Debtors iii. Fixed Assets
d. Interest accrued on unsecured loans iv. Provisions
Codes:
(a) (b) (c) (d)
(a) 4 3 1 2
(b) 4 3 2 1
(c) 3 4 2 1
(d) 2 1 3 4

6. A, B and C are partners in a firm sharing profits and losses in the ratio of 4:3: 2. They
agreed to take D into partnership and gave him 1/8 sharing ratio ? share. What will be
their new profit
(1) 4:3:2:1
(2) 28:21:14:9
(3) 28:21:14:8
(4) 4:1:2:1

7. From the following information, find out the number of units that must be sold by the
firm to earn profit of ₹ 80,000 per year.
Sales price: ₹25 per unit
Variable manufacturing costs - ₹12 per unit
Variable selling costs - ₹3 per unit
Fixed factory overheads- ₹5,00,000
Fixed selling costs -₹3,00,000
(1) 60,000 units
(2) 88,000 units
(3) 98,000 units
(4) 1,00,000 units

8. Which of the following is not a cash inflow ?

(1) Decrease in creditors
(2) Decrease in debtors
(3) Issue of shares
(4) Sale of a fixed asset

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9. Match the items of List I with those of List II and indicate the correct code from the
following:
List-I List - II
a. Postage stamp pricing i. Equality of marginal and average cost
b. Loss leader ii. Constant average and marginal cost
c. Economic capacity iii. Product line pricing
d. Reserve capacity iv. Differential pricing
Codes:
(a) (b) (c) (d)
(a) 3 4 2 1
(b) 4 3 1 2
(c) 2 1 3 4
(d) 1 2 4 3

10. For the following two statements of Assertion (A) and Reasoning (R) indicate the
correct code:
Assertion (A): Low initial pricing for new products is regarded as the principal instrument
for entering into mass markets.
Reasoning (R) Firms generally go for production of new products with excess capacity
initially.
Codes:
(1) Assertion (A) and Reasoning (R) both are correct but (R) does not offer full explanation
for (A).
(2) Assertion (A) and Reasoning (R) both are wrong.
(3) Assertion (A) is correct but Reasoning (R) is wrong.
(4) Assertion (A) and Reasoning (R) both are correct and (R) offers full explanation for (A).

11. For the following two statements of Assertion (A) and Reasoning (R) indicate the
correct code:
Assertion (A) Gossen's first law of consumption is invariably applicable in case of
individuals' consumption behaviour.
Reasoning (R): It serves as an important determinant of demand for the goods and
services in the market.
Codes:
(1) Assertion (A) and Reasoning (R) both are correct.
(2) Assertion (A) and Reasoning (R) both are incorrect.
(3) Assertion (A) is correct but Reasoning (R) is incorrect.
(4) Assertion (A) is incorrect but Reasoning (R) is correct.

12. Production function for a product is based on certain assumptions. Indicate the
correct code from the following:
(a) Complementarity
(b) Substitutability
(c) Product elasticity
(d) Specificity
Codes:
(1) (a) (b) (c)

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(2) (b) (c) (d)
(3) (a) (c) (d)
(4) (a) (b) (d)

13. Which one of the following is not the characteristic of normal distribution?
(1) Mean, median and mode for the normal distribution are equal.
(2) The two tails of the normal curve extend to infinity in both directions but never touch
the horizontal axis.
(3) For different values of standard deviation, the height of the mean ordinate remains the
same.
(4) The number of independent constraints of normal distribution are N, X and σ.

14. Which one of the following formulae is used to calculate the standard error of
coefficient of correlation between 25 paired observations of a sample ?

15. Read the following statements and choose the correct code:
Statement I Non-parametric tests are based on some assumptions about the parent
population from which the sample has been drawn.
Statement-II: The standard deviation of the sampling distribution of mean is called
standard error of mean.
Codes:
(1) Both statements are true.
(2) Both statements are false.
(3) Statement - I is true while Statement - II is false.
(4) Statement - I is false while Statement - II is true.

16. Match the items of List I with the items of List II and indicate the code of correct
matching :

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17. Which of the following is a deterioration of mental efficiency, reality testing and moral
judgement that results from in-group pressure?
(1) Harassment
(2) Group think
(3) Group burnout
(4) Group control

18. According to Fiedler's contingency model of leadership, favourableness of situation

depends on which combination of the following?
(a) Leader-member relationship
(b) Member-member relationship
(c) Leader's position power
(d) Degree of task structure
(e) Degree of training
Codes:
(1) (a), (b) and (c)
(2) (a), (c) and (d)
(3) (c), (d) and (e)
(4) (a), (b) and (e)

19. The apex body at the highest level of the unit/division, which oversees the functioning
of quality circles, is called
(1) Facilitator
(2) Coordinator
(3) Steering committee
(4) Supervisory committee

20. Which of the following is related to the practical means of determining a moral course
of action?
(1) Meta ethics

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(2) Virtue ethics
(3) Normative ethics
(4) Applied ethics

21. Match List - I and List - II and indicate the correct code:
List-I List-II
a. Convenience goods i. Consumer purchases them frequently, immediately and with
minimal effort.
b. Shopping goods ii. Consumer compares them on the basis of suitability,
quality, price and style.
c. Speciality goods iii. These are goods with unique characteristics or brand
identification.
d. Unsought goods iv. Consumers are not aware of them and normally do not
think of buying them.
Codes:
(a) (b) (c) (d)
(a) 1 4 2 3
(b) 1 2 3 4
(c) 4 3 2 1
(d) 2 1 3 4

22. Which of the following marketing strategies is/are not used in 'growth stage' of the
product life cycle?
(1) Improving quality and adding new features.
(2) Adding new models of product.
(3) Entering new market segments.
(4) Using awareness and trial communications.

23. Who among the following take(s) both title to and possession of goods from the
preceding member(s) and channelize them to the subsequent members ?
(a) Agent intermediaries
(b) Merchant intermediaries
(1) (a) only
(2) (b) only
(3) Both (a) and (b)
(4) Neither (a) nor (b)

24. Which of the following is not a determinant of service quality?

(1) Reliability
(2) Responsiveness
(3) Sensitivity
(4) Assurance

25. Sales of a firm are 74 lakh, variable costs 40 lakh, fixed costs 8 lakh. Operating
leverage of the firm will be
(1) 1.48
(2) 1.78
(3) 1.31

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(4) 2.42

26. From the following techniques of capital budgeting decision, indicate the correct
combination of discounting techniques:
I. Profitability index
II. Net present value
III. Accounting rate of return
IV. Internal rate of return
Codes:

27. Insufficient working capital may result into which combination of the following?
I. Failures to adapt to changes.
II. Enhancement in credit-worthiness of the firm.
III. Reduced availability of trade and cash discounts.
IV. Reduced volume of sales.
Codes:
(1) I, II, III, IV
(2) I, III, IV
(3) I, II, IV
(4) I, II, III

28. Which combination of the following represents the assumptions of the Walter's
dividend model ?
I. The company has a very long or perpetual life.
II. All earnings are either reinvested internally or distributed as dividend.
III. There is no floatation cost for the company.
IV. Cost of capital of the company is constant.
Codes:
(1) I II III
(2) II III IV
(3) I II IV
(4) 1 III IV

29. Match the items of List - I with the items of List II and indicate the correct code:
List-I List-II
a. Job specifications i. The procedure for determining the duties and skill requirements
of a job and the kind of person who should be hired for it.
b. Job description ii. A list of human requirements
C. Job analysis iii. A list of job's duties, responsibilities, reporting relationships,
working conditions and supervisory responsibilities.
Codes:
abC
(1) i ii iii
(2) ii iii i
(3) iii ii i
(4) ii i iii

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30. A training technique in which trainees are first shown good management techniques
in a film, are asked to play roles in a simulated situation, and are then given feedback and
praise by their supervisor is known as.
(1) Behaviour modelling
(2) Role playing
(3) In-house development center
(4) Management game

31. Which combination of the following statements is correct about the code of discipline
in industry?
(a) It aims at preventing disputes by providing for outside agency or adjudication.
(b) It is a government imposed involuntary principle of discipline.
(c) It restrains the parties from unilateral action.
Codes:
(1) (a), (b) and (c)
(2) (b) and (c)
(3) (a) only
(4) (c) only

32. A conciliation proceeding is deemed to be pending until any combination of the

following conditions is fulfilled:
(a) a settlement is arrived at a memorandum of settlement is signed by parties to the
dispute.
(b) no settlement is arrived at, the report of conciliation officer is received by the
appropriate government.
(c) a reference is made to the court of Inquiry, Labour Court, Tribunal or National
Tribunal during the pendency of conciliation proceedings.
Codes:
(1) only (a) is correct.
(2) only (b) is correct.
(3) (a) and (c) are correct.
(4) (a), (b) and (c) are correct.

33. Identify the correct combination of statements with regard to banking in India.
(a) For many years the presidency banks had acted as quasi-central banks.
(b) The Bank of Hindustan was liquidated during 1829-32.
(c) General Bank of India was an unsuccessful bank and was dissolved in 1791.
(d) Bank of Calcutta was renamed as Bank of Bengal in 1921.
Codes:
(1) (a), (b) and (c)
(2) (b), (c) and (d)
(3) (a), (b) and (d)
(4) (a), (b), (c) and (d)

34. Which combination of the following methods indicates quantitative methods of control
of credit creation practiced by the Reserve Bank of India?
(a) Bank Rate
(b) Open Market Operations

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(c) Variable Reserve Ratios
(d) Credit Rationing
Codes:
(1) (a), (b) and (c)
(2) (a), (b) and (d)
(3) (b), (c) and (d)
(4) (a), (c) and (d)

35. Which one of the following development financial institutions in India has started the
special refinance scheme for the resettlement and rehabilitation of voluntary retired Aaifer
workers of the National Textile Corporation of India ?
(1) IDBI
(2) SIDBI
(3) ICICI
(4) None of the above

36. Read the following statements and choose the correct code:
Statement-I: Small Industry Development Bank of India (SIDBI) was set up as a wholly
owned subsidiary of RBI.
Statement-II: SIDBI has taken over the responsibility of administering small industry
development fund managed by IDBI.
Codes:
(1) only (I) is correct.
(2) Only (II) is correct.
(3) Both (I) and (II) are correct.
(4) Both (I) and (II) are wrong.

37. Under the Foreign Trade Policy 2015-2020, following additional ports are allowed for
export and import:
(a) Calicut Airport, Kerala
(b) Rajkot Airport, Gujarat
(c) Arakonam ICD, Tamil Nadu
(d) Ludhiana Airport, Punjab
Codes:
(1) (a) and (c)
(2) (a) and (d)
(3) (b) and (d)
(4) (c) and (d)

38. Assertion (A): Under FEMA, the receiver of laundered money is to be made culpable,
instead of sender/distributor.
Reasoning (R): FEMA differs from the earlier exchange regulation Act FERA with regard to
penalties and punishment in case of violation of the Act.
Codes:
(1) (A) is correct but (R) is not correct.
(2) (A) and (R) both are correct but (R) is not the right explanation of (A).
(3) (A) and (R) both are correct and (R) is the right explanation of (A).
(4) (A) and (R) both are incorrect.

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39. Match the items of List I with those of List II with regard to international monetary
fund's various schemes :
List-I List - II
a. Extended Fund Facility (EFF) i. Repayment period 4 to 10 years
b. Stan Arrangements ii. Repayment period 3 to 5 years
с. Supplemented Reserve Fund (SRF) iii. Repayment period 2 to 5 years
d. Poverty Reduction and Growth Facility iv. Repayment period 10 years
(PRGF)
Codes:
(a) (b) (c) (d)
(a) 1 2 3 4
(b) 4 3 2 1
(c) 4 2 3 1
(d) 1 4 2 3

40. Which combination of the following is correct with regard to World Trade Organization
(WTO):
(a) WTO initiates peace process among the member countries to enhance international
trade.
(b) WTO avoids the task of "Settlement of Disputes" among the member countries.
(c) WTO administers the "Trade Review Mechanism".
(d) WTO cooperates in an appropriate manner with the IMF and the World Bank.
Codes:
(1) (b), (c) and (d)
(2) (a) and (c)
(3) (c) and (d)
(4) (a), (b) and (d)

41. Choose the code representing the correct sequence of steps in a merging transaction:
(i) Screening and investigation of merger proposal.
(II) Approval of Central Government
(III) Approval of respective High Courts
(IV) Negotiation Stage
(V) Approval of proposal by Board of Directors, Shareholders and Creditors
Codes:
(1) (I) (V) -> (IV) -> (III) -> (II)
(2) (I) (IV) -> (V) -> (III) -> (II)
(3) (I) (IV) -> (III) -> (V) -> (II)
(4) (I) -> (III) -> (V) -> (II) -> (IV)

42. Which of the following are the important features of option contracts?
(I) Buyers of option have limited liability.
(II) Options have high degree of risk to option-writers.
(III) Options are exercisable only by buyers of option.
(IV) Buyers of option have all rights which are available to equity shareholders of the
concerned companies.
Codes:

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(1) (I), (II), (III)
(2) (I), (II), (III), (IV)
(3) (I), (II), (IV)
(4) (I), (III), (IV)

43. Which of the following approaches is adopted for the valuation of human resource
according to economic concept?
(1) Replacement cost approach
(2) Opportunity cost approach
(3) Historical cost approach
(4) None of the above

44. Match the items of List - I with those of List - II and select the correct code:
List - I List - II
a. High levered fund i. Market risk
b. Increase in bank rate ii. Purchasing power risk
с. Inflation iii. Financial risk
d. Political instability iv. Interest rate risk
Codes:
(a) (b) (c) (d)
(a) 3 1 2 4
(b) 1 3 4 2
(c) 3 4 2 1
(d) 2 3 1 4

45. Which of the following are the instruments of money market?

(i) Call money market
(ii) Commercial bill market
(iii) Industrial securities market
(iv) Short-term loans market
(v) Treasury bill market
Codes:
(1) (i), (ii) (iv), (v)
(2) (i), (ii), (v)
(3) (i), (ii), (iii), (iv), (v)
(4) (i), (ii), (iii), (iv)

46. Accounting Standard-6 is meant for

(1) Accounting for Fixed Assets
(2) Accounting treatment for goodwill
(3) Depreciation Accounting
(4) Disclosure of Accounting policies

47. Which of the following is not a feature of OTCEI?

(1) Quick transfer and disposal system
(2) Nationalised computerised networking
(3) Ringless trading system
(4) Fragmentation of regional stock exchanges

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48. Which of the following requires consumers to interpret ambiguous stimuli ?

(1) Focus group method
(2) Projective techniques
(3) Rejective techniques
(4) Semantic differential scales

49. Which of the following passes through the four stages of distinctiveness, emulation,
mass fashion and decline ?
(1) Style
(2) Fashion
(3) Fad
(4) Style and Fashion

50. Which of the following positioning strategies is adopted by marketers to position their
product in two categories simultaneously?
(1) Point of Difference
(2) Point of Parity
(3) Straddle Positioning
(4) Emotional Positioning

51. Statement (I): Marketing is the process by which a firm profitably translates customer
needs into revenue.
Statement (II): Marketing is the messages and/or actions that causes messages and/or
actions.
Codes:
(1) (I) is correct but (II) is not correct.
(2) (II) is correct but (1) is not correct.
(3) (I) and (II) both are correct.
(4) (1) and (II) both are incorrect.

52. Assertion (A): Odd pricing aims at maximising profit by making micro-adjustments in
pricing structure.
Reasoning (R) Odd pricing refers to a price ending in 1, 3, 5, 7, or 9. When examining a
price, the first digits carry more weight than the last ones.
Codes:
(1) (A) is right and (R) is wrong.
(2) (A) is wrong and (R) is right.
(3) Both (A) and (R) are right.
(4) Both (A) and (R) are wrong.

53. Name the process in which a buyer posts its interest in buying a certain quantity of
item and sellers compete for the business by submitting lower bid until there is only one
seller left.
(1) Internet
(2) Reverse auction
(3) B2B market place
(4) B2C market place

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54. Advertising method in which an advertisement is broadcasted simultaneously on

several radio stations and / or television channels is known as
(1) Black-out
(2) Consolidation
(3) Road-block
(4) Cornering

55. Which of the following is the mental condition or attitude of individuals and groups
which determines their willingness to cooperate ?
(1) Motivation
(2) Morale
(3) Excitement
(4) Delight

56. Which of the following is not provided under the Factories Act, 1948?
(1) The certificate of fitness is granted by a certifying surgeon on the application of any
young person or a parent or a guardian.
(2) An adolescent who has not been granted a certificate of fitness shall be deemed to be a
child for the purpose of the act.
(3) The certificate of fitness granted or renewed remains valid for a period of six months
from the date of issue.
(4) Any fee payable for the certificate of fitness shall be paid by occupier and not by the
young person or his parent or guardian.

57. Arrange the following steps of developing Behaviourally Anchored Rating Scales
(BARS) in the right sequence:
(a) Developing performance dimensions
(b) Generate critical incidents
(c) Scale the incidents
(d) Reallocate the incidents
(e) Develop the final instrument
Codes:
(1) (a), (b), (c), (d), (e)
(2) (b), (a), (d), (c), (e)
(3) (a), (b), (d), (c), (e)
(4) (a), (c), (b), (d), (e)

58. Within how much period from the close of accounting year, bonus must be paid, if
there is no dispute about the payment of bonus?
(1) Two months
(2) Six months
(3) Eight months
(4) Ten months

59. Which of the following statements is correct about Wage Boards in India?
(a) A Wage Board is a tripartite body.

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(b) Labour and management representatives on a Wage Board can be selected from
industries other than the one which is investigated.
(c) Wage Boards are always statutory in nature.
(d) Wage Boards work on the principle of living wage.
Codes:
(1) (a) only
(2) (b) and (c)
(3) (c) and (d)
(4) (a), (b), (c) and (d)

60. Who gave the surplus value theory of wage?

(1) David Ricardo
(2) Karl Marx
(3) Adam Smith
(4) F.A. Walker

61. Who gave the systems approach to industrial relations ?

(1) Beatrice Webb
(2) John Dunlop
(3) Eric Trist
(4) Henry Fayol

62. Which among the following are multinational corporations?

(a) A multinational, decentralized corporation with strong home country presence.
(b) A global, centralized corporation that acquires cost advantage through centralized
production when cheaper resources are available.
(c) An international company that builds on the parent corporations technology and R &
D.
(d) A transnational enterprise that combines the (a), (b) and (c).
Codes:
(1) (a) and (b)
(2) (b) and (c)
(3) (a), (b) and (c)
(4) (a), (b), (c) and (d)

63. Which among the following are full member countries of ASEAN?
(a) Brunei Darussalam
(b) Cambodia
(c) Vietnam
(d) Myanmar
(e) Sri Lanka
Codes:
(1) (a), (b) and (e)
(2) (a), (b), (c) and (e)
(3) (b), (c), (d) and (e)
(4) (a), (b), (c) and (d)

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64. Assertion (A): Capital Account convertibility is introduced only sometime after the
introduction of convertibility on current account when exchange rate of currency of a
country is relatively stable.
Reasoning (R) Capital Account convertibility is necessary for faster growth and
development of economy and it makes foreign exchange rate more stable.
Codes:
(1) (A) is correct but (R) is not correct.
(2) (A) and (R) both are correct and (R) is the right explanation of (A).
(3) (A) and (R) both are correct but (R) is not the right explanation of (A).
(4) Both (A) and (R) are incorrect.

65. Statement (I) WTO is only international organization which deals with the rules of
trade between organizations.
Statement (II): The limit of holding by individual foreign institutional investors in a
company has been raised from 5 to 10% of company's share while the aggregate limit has
been increased from 24 to 34%
Codes:
(1) Statement (I) is correct but Statement (II) is false.
(2) Statement (II) is correct but Statement (I) is false.
(3) Statements (I) and (II) both are correct.
(4) Statements (1) and (II) both are false.

66. In case a farmer in India buys a wheat option on future:

(a) The farmer must accept a wheat futures contract and not take physical possession of
wheat.
(b) The farmer must accept delivery of the wheat at a higher price.
(c) The farmer has the right to deliver the wheat and will do so only if the price is
favourable.
(d) The farmer must deliver the wheat at market price.
Codes:
(1) (a) and (d)
(2) (d) only
(3) (c) only
(4) (b) and (c)

67. Sector specific policy of government of India in case of B2B is when

(1) FDI is upto 100%
(2) FDI is upto 49%
(3) FDI is upto 100% subject to condition that the investment in favour of Indian public to
the tune of 20% within 5 years to be done.
(4) FDI is upto 100% subject to condition that the investment in favour of Indian public to
the tune of 26% within 10 years to be done.

68. Statement I: In India a "copyright" of an unpublished book can be registered under

copyright Act of India.
Statement II: Once granted by the European Patent Office, the proprietor has a patent
which is effective in all contracting states of the patent cooperation treaty and the
agreement on the trade related aspects of IPR.

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Codes:
(1) Statement (I) is correct and (II) is false.
(2) Statement (II) is correct and (I) is false.
(3) Statements (I) and (II) both are correct.
(4) Statements (I) and (II) both are false.

69. As per the Income Tax Act, 1961 for the assessment year 2015-16, a deduction u/s 80
QQB for authors of books of literacy, artistic or scientific nature is allowed upto 3, 0
(1) ₹1,00,000
(2) ₹2,00,000
(3) ₹2,40,000
(4) ₹3,00,000

70. Gratuity received by a government employee is

(1) exempted upto 3,50,000
(2) exempted upto 10,00,000
(3) fully exempted
(4) fully taxable

71. Match the items of the List - I with those of the List II and indicate the correct code:
List - I List - II
a. Residential status of an individual i. Section 10 (13A)
b. Agricultural income ii. Section 10 (10)
c. House rent allowance iii. Section 6
d. Gratuity iv. Section 10(1)
Codes:
(a) (b) (c) (d)
(a) 1 3 2 4
(b) 3 4 1 2
(c) 2 1 3 4
(d) 4 2 1 3

72. Match the items of the List I with List II and indicate the correct code:
List - I List-II
a. House rent allowance i. A deduction from income
b. Casual income ii. A step taken by tax authorities
c. Collection charges of interest on iii. Taxable income
securities
d. Best judgement assessment iv. Partly taxable allowance
Codes:
(a) (b) (c) (d)
(a) 4 3 2 1
(b) 4 3 1 2
(c) 3 4 1 2
(d) 2 4 1 3

73. The statutory limit for deduction u/s 80 GG of Income tax Act, 1961, for the
assessment year 2015-16 is

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(1) ₹2,000 per month
(2) ₹3,000 per month
(3) ₹2,500 per month
(4) ₹5,000 per month

74 . For the purpose of assessment under Income Tax Act, 1961, which combination of
the following represent income ?
(I) Tax-free salary from the private sector employer.
(II) Pin money received by a family member.
(III) Awards received by the sports persons.
(IV) Loss incurred by the assessee.
(V) Perquisites received by employees.
Codes:
(1) (I), (II), (III), (IV)
(2) (II), (III), (IV), (V)
(3) (I), (III), (IV), (V)
(4) (I), (II), (IV), (V)

75. Indicate the correct code for forms for filing income tax return from the following
Income Tax Return Forms:
(a) ITR-4S
(b) ITR-2
(c) ITR-2B
(d) ITR-3
Codes:
(1) (a), (b) and (c)
(2) (b), (c) and (d)
(3) (a), (b) and (d)
(4) (a), (c) and (d)

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ANSWERS
1 4 16 2 31 4 46 3 61 2
2 4 17 2 32 4 47 4 62 4
3 3 18 2 33 1 48 2 63 4
4 4 19 3 34 1 49 2 64 1
5 1 20 3 35 1 50 3 65 3
6 2 21 2 36 2 51 3 66 3
7 2 22 4 37 1 52 3 67 4
8 1 23 2 38 3 53 2 68 3
9 2 24 3 39 1 54 3 69 4
10 1 25 3 40 3 55 2 70 3
11 4 26 3 41 2 56 3 71 2
12 4 27 2 42 1 57 2 72 2
13 3 28 3 43 2 58 3 73 1
14 2 29 2 44 3 59 1 74 3
15 4 30 1 45 1 60 2 75 3

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UGC NET PYQ COMMERCE DECEMBER 2015

PAPER II
1. Environmental degeneration does not consist of:
(1) Land degeneration and soil erosion
(2) Problem of over grazing and ecological degeneration
(3) Floods
(4) None of the above

2. Which of the following is not the main objective of "Fiscal Policy of India"?
(1) To increase liquidity in economy
(2) To promote price stability
(3) To minimize the in-equality in income and wealth
(4) To promote employment opportunities

3. Liberalization means:
(1) Reducing number of reserved industries from 17 to 8
(2) Liberating the industry, trade and economy from unwanted restriction
(3) Opening up economy to the world by attaining international competitiveness
(4) Free determination of interest rate

4. Assertion (A): Industrialization of an economy is considered synonymous with growth.

Reasoning (R): The transfer of resources from agrarian to industrial may be capital or
labour or both.
Codes:
(1) Both (A) and (R) are true and (R) is correct explanation of (A).
(2) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(3) (A) is true but (R) is false.
(4) (A) is false but (R) is true.

5. Globalization is the term used to describe process of removal of restriction on which

one of the following?
(1) Foreign trade
(2) Investment
(3) Both (1) and (2)
(4) None of the above

6. Interest on loan taken for the purchase of fixed assets is a :

(1) Revenue Expenditure
(2) Capital Expenditure
(3) Deferred Revenue Expenditure
(4) Capital Loss

7. Dual Aspect Concept results in the following accounting equation :

(1) Revenue = Expenses
(2) Capital + Profits = Assets + Expenses
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(3) Capital + Liabilities = Assets
(4) Capital+Drawings = Owner's Equity

8. Match the items in Column 1 with the items in Column -2:

Column - 1 Column - 2
(a) Materiality Concept (i) The same accounting method used by a
firm from one period to another
(b) Going Concern Concept (ii) An inappropriate assumption of a firm
being bankrupt
(c) Historical Cost Concept (iii) A normal basis used for accounting
assets
(d) Consistency Concept (iv) Relates to the importance of an item or
event
Codes:
(a) (b) (c) (d)
(1) (iv ) (ii) (iii) (i)
(2) (i) (ii) (iii) (iv)
(3) (ii ) (iii) (iv) (i)
(4) (iv) (ii) (i) (iii)

9. 'X' Ltd. has a liquid ratio of 2/1 If its stock is 40,000 and its current liabilities are of 1
Lac, its current ratio will be:
(1) 1.4 times
(2) 2.4 times
(3) 1.2 times
(4) 3.4 times

10. 'Comparison of the financial statements of the current year with the performance of
previous years of the same firm', is known as:
(1) Trend Analysis
(2) Horizontal Analysis
(3) Intra firm comparison
(4) All of the above

11. The Marshallian utility analysis is based on a less valid assumption of:
(1) cardinal measurability of the utility
(2) given marginal utility of money
(3) diminishing marginal utility of the goods
(4) additivity of the utility

12. Match the items of the List I with those of the List II and indicate the correct code:
List - I List - II
(a) Convexity of the indifferences curve to (i) Indifference curve analysis
origin
(b) Quantity of certain goods sacrificed for a (ii) Consumer's equilibrium
large quantity of other goods
(c) Equality of the ratio of the marginal (iii) Substitutability/complementarity of the
utilities with that of the prices of the two two goods
goods

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(d) Separation of substitution and income (iv) Marginal rate substitution
effects from the total price effect
Codes:
(a) (b) (c) (d)
(1) (iv) (ii) (i) (iii)
(2) (iii) (iv) (ii) (i)
(3) (iii) (i) (iv) (ii)
(4) (i) (iii) (ii) (iv)

13. Firms producing and selling a large variety of goods will generally follow:
(1) Cost plus pricing
(2) Marginal pricing
(3) Skimming pricing
(4) Product line pricing

14. For the following two statements of Assertion (A) and Reasoning (R) indicate the
correct code:
Assertion (A): All firms under perfect competition in long run earn only normal profit.
Reasoning (R): All firms under perfect competition in long run operate at the minimum
average cost level.
Codes:
(1) (A) and (R) both are correct.
(2) (A) is correct but (R) is not correct.
(3) (A) is not correct but (R) is correct.
(4) (A) and (R) both are incorrect.

15. Match the items of List I with those of List II and indicate the correct code:
List - I List - II
(a) Substitute Goods (i) Negative Cross Elasticity
(b) Complementary Goods (ii) Low Price Elasticity
(c) Giffen Goods (iii) Positive Cross Elasticity
(d) High Income Group Consumption Goods (iv) Positive Price Elasticity
Codes:
(a) (b) (c) (d)
(1) (iii) (iv) (ii) (i)
(2) (iii) (i) (iv) (ii)
(3) (ii) (iii) (i) (iv)
(4) (i) (ii) (iii) (iv)

16. Which one of the following is not a method of studying association of attributes ?
(1) Concurrent Deviation Method
(2) Proportion Method
(3) Yule's Metho
(4) Coefficient of Contingency

17. Identify which of the following steps would be included in hypothesis testing:
(a) State the null and alternative hypothesis.
(b) Set the significance level before the research study.

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(c) Eliminate all outliers.
(d) Obtain the probability value using a computer program such as SPSS.
(e) Compare the probability value to the significance level and make the statistical
decision.
Codes:
(1) (a), (c) and (d)
(2) (c), (d) and (e)
(3) (a), (b), (d) and (e)
(4) (b), (c), (d) and (e)

18. Select the methods of finding out correlation from the following:
(a) Karl Pearson's Method
(b) Spearman's Rank Method
(c) Yule's Method
(d) Coefficient of Contingency
(e) Concurrent Deviation Method
Codes:
(1) (a), (b), (c)
(2) (a), (b), (c), (d)
(3) (a), (b), (e)
(4) (c), (d), (e)

19. A set of data can be distinguished from other set of data by means of:
(1) Central value and dispersion
(2) Central value, dispersion and skewness
(3) Central value, dispersion, skewness and Kurtosis
(4) None of the above

20. The advent of computers in research has led to:

(1) Limitations of options in analysis
(2) Tremendous amount of flexibility with marginal increase in cost
(3) Myopic exposure of statistics to the researcher
(4) None of the above

21. Who among the following is not related to the planning function given by Taylor ?
(1) Route clerk
(2) Time and cost clerk
(3) Inspector
(4) Disciplinarian

22. Match the following:

(Book)
(a) Functions of the Executive
(b) On the Economy of Machinery and Manufactures
(c) The Effective Executive
(d) General and Industrial Administration
Codes:
(a) (b) (c) (d)

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(1) (i) (ii) (iii) (iv)
(2) (iii) (i) (iv) (ii)
(3) (iv) (iii) (i) (ii)
(4) (iii) (iv) (i) (ii)

23. The classical organisation theory treats organisation as a/an:

(1) Open system
(2) Closed system
(3) Technical system
(4) Macro system

24. Which of the following is a systematic interactive forecasting method that relies on a
panel of experts ?
(1) Pay-off matrix
(2) Game theory‘
(3) Queing theory
(4) Delphi technique

25. According to Hersey and Blanchard's situational approach to leadership, the

'participating style' of leadership has:
(1) High task and low relationship orientation
(2) High task and high relationship orientation
(3) Low task and high relationship orientation
(4) Low task and low relationship orientation

26. Which of the following is not a reason for the failure of new products?
(1) Good idea but overestimated market size.
(2) Correctly positioned new product, not promoted effectively or overpriced.
(3) Development costs are lower than or equal to estimated or expected.
(4) Competitors fight back harder than expected.

27. Which one of the following is true for the calculation of overall market share?
(1) (Customer penetration) × (Customer loyalty) × (Price selectivity)
(2) (Customer loyalty) × (Customer selectivity) × (Price selectivity)
(3) (Customer selectivity) × (Price selectivity) × (Customer penetration)
(4) (Customer penetration) × (Customer loyalty) × (Customer selectivity) × (Price selectivity)

28. is wielded by a manufacturer that threatens to withdraw a resource or terminate a

relationship if intermediaries fail to cooperate.
(1) Coercive Power
(2) Legitimate Power
(3) Expert Power
(4) Reference Power

29. When the consumers favour those products which offer the most quality, performance
or innovative features, then it is called as:
(1) Production concept
(2) Product concept

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(3) Sales concept
(4) Marketing concept

30. Match the items of List - I with List - II where the PLC curve patterns are given for
different categories:
List - I List - II
(a) Product category (i) One of several variant shapes
(b) Product forms (ii) Longest PLC
(c) Products (iii) Standard PLC
(d) Branded Products (iv) Short or long PLC

Codes:
(a) (b) (c) (d)
(a) 3 4 2 1
(b) 1 2 4 3
(c) 4 2 1 3
(d) 2 3 1 4

31. The term 'capital structure' implies:

(1) Share Capital + Reserves + Long-Term Debts
(2) Share Capital + Long and Short-Term Debts
(3) Share Capital + Long-Term Debts
(4) Equity and Preference Share Capital

32. A company has issued 10 percent perpetual debt of 1 lac at 5 percent premium. If tax
rate is 30 percent, then the cost of debt will be:
(1) 10 percent
(2) 15 percent
(3) 6.66 percent
(4) 8.21 percent

33. "Dividend is not relevant in determining the value of the company". Who among the
following held this opinion?
(1) J.E. Walter
(2) Ezra Soloman
(3) Modigliani-Miller
(4) M.J. Gordon

34. The formula Q/2 is used to compute the :

(1) Total ordering cost
(2) Total carrying cost
(3) Opportunity cost
(4) Re-order point

35. Financial Leverage is measured by:

(1) EBIT EAT
(2) EBIT EBT

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(3) EAIT EBT
(4) C EBIT

36. Which of the following is a key role of HR Manager as defined by Ulrich et al (2009) ?
(1) Personnel Administrator
(2) Business Ally
(3) Payroll Advisor
(4) Organizational Geographer

37. Which of the following is the most serious problem that might arise due to excessive
reliance on internal recruitment ?
(1) reduced job performance
(2) high labour turnover
(3) lack of motivation
(4) internal resistance

38. Match the methods of performance appraisal given in List - I with the explanations
given in the List II:
List - I List - II
(a) Behaviourally Anchored (i) Evaluator keeps a log of critical incidents to evaluate
Rating Scale (BARS) performance
(b) Management By Objectives (ii) Evaluator indicates on a scale how often the
(MBO) appraise was actually observed engaging in the specific
behaviours already identified
(c) Critical incident method (iii) Evaluator rates on the scale described in the form
of critical incidents
(d) Behaviour observation scale (iv) Systematic and organized approach that allows
management to focus on achievable goals
Codes:
(a) (b) (c) (d)
(1) (ii) (iv) (i) (iii)
(2) (i) (iv) (ii) (iii)
(3) (iii) (iv) (i) (ii)
(4) (ii) (i) (iv) (iii)

39. The internal factors affecting the wage mix include:

(a) Relative worth of the job
(b) Area wage rates
(c) Employer's ability to pay
(d) Manpower market conditions
Codes:
(1) (a), (b) and (c)
(2) (a) and (c)
(3) (b), (c) and (d)
(4) All of the above

40. Match the items of List I with the items of List - II:
List - I List - II
(a) Giri Approach (i) The utility of non-violence as the means of conflict
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resolution.
(b) Industrial Sociology (ii) Organizations are made up of people and the success
Approach of management lies in its dealing with these people.
(c) Gandhian Approach (iii) Voluntary negotiations between employers and
employees are a means of settling disputes.
(d) Human Relations (iv) Investigating the underlying trends and patterns in
Approach the cause and effect of industrial disputes.
Codes:
(a) (b) (c) (d)
(1) (ii) (iii) (i) (iv)
(2) (iii) (iv) (i) (ii)
(3) (i) (iii) (ii) (iv)
(4) (i) (ii) (iv) (iii)

41. Assertion (A): Taking of deposits and granting of loans single out banks.
Reasoning (R): Banks act as intermediaries when they mobilize savings from surplus units
to shortage units in order to finance productive activities.
Codes:
(1) Assertion (A) is correct and Reasoning (R) is the correct explanation of (A).
(2) Both Assertion (A) and Reasoning (R) are correct but (R) is not the correct explanation
of (A).
(3) Assertion (A) is correct but Reasoning (R) is incorrect.
(4) Reasoning (R) is correct but Assertion (A) is incorrect.

42. "Skimming" in e-banking refers to:

(1) Identifying fraudsters copying vital information from credit cards
(2) Multiple transactions by one credit card
(3) Conversion of a debit card into credit card
(4) None of the above

43. Match the items of List I with List II in terms of functions of a bank:
List - I (Activities) List - II (Functions)
(a) Underwriting (i) Primary Functions
(b) Transfer of funds (ii) Granting Advances
(c) Overdraft (iii) Utility Functions
(d) Recurring Deposits (iv) Agency Functions
Codes:
(a) (b) (c) (d)
(1) (i) (ii) (iv) (iii)
(2) (iv) (iii) (ii) (i)
(3) (iii) (iv) (ii) (i)
(4) (ii) (iv) (iii) (i)

44. Which among the following is not a subsidiary of Reserve Bank of India ?
(a) Deposit Insurance and Credit Gaurantee Corporation of India.
(b) Bharatiya Reserve Bank Note Mudran Private Limited.
Codes:
(1) Only (a)
(2) Only (b)
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(3) Both (a) and (b)
(4) Neither (a) nor (b)

45. Which among the following is not associated with NABARD ?

(a) NIEAF
(b) BIRD
(c) RIDF
(d) SHPI
Codes:
(1) (a) only
(2) (b) only
(3) (b) and (c) only
(4) None of the above

46. Examine the following statements and choose the correct code:
Statement (I): Companies with Low cash reserves normally prefer Licensing mode rather
than Foreign Direct Investment.
Statement (II): Cash rich firms normally prefer Foreign Direct Investment.
Codes:
(1) Both (I) and (II) are correct
(2) Both (I) and (II) are wrong
(3) (I) is correct but (II) is wrong
(4) (I) is not correct but (II) is correct

47. Which one of the following is not a feature of Business Process Outsourcing (BPO)?
(1) It enables executives to concentrate on strategy
(2) It improves process and saves money
(3) It decreases organizational capabilities
(4) None of the above

48. The major outcome of the Bretton Woods Conference was:

(1) Establishment of IMF and IFC
(2) Establishment of IBRD and IFC
(3) Establishment of IBRD and ADB
(4) Establishment of IMF and IBRD

49. Which one of the following is an important activity of the World Bank borrowings?
(1) It borrows in the international capital market
(2) It borrows on currency on swap agreements
(3) It borrows under the discount net programme
(4) All of the above

50. Which one of the following statements is false ?

(1) IFC was established in July 1956
(2) IFC encourages the growth and development of Public Sector Enterprises in member
countries
(3) IFC is an affiliate of the World Bank
(4) IFC encourages the growth of productive private enterprises in member countries

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ANSWERS
1 4 11 2 21 3 31 1 41 1
2 1 12 2 22 2 32 * 42 1
3 3 13 4 23 2 33 3 43 2
4 2 14 1 24 4 34 2 44 4
5 3 15 2 25 3 35 1 45 4
6 2 16 1 26 3 36 2 46 1
7 3 17 3 27 4 37 4 47 3
8 1 18 3 28 1 38 3 48 4
9 2 19 3 29 2 39 2 49 4
10 4 20 2 30 4 40 2 50 2

UGC NET PYQ COMMERCE DECEMBER 2015 PAPER III

1. The method being used for Transferring Complex Technology is known as :

(1) Licensing Agreement
(2) Transfer of Technology
(3) Turnkey Contract
(4) None of the above

2. Which of the following is not a force in the Porter Five Forces Model?
(1) Buyers
(2) Suppliers
(3) Complementary produce
(4) Industry rivalry

3. LIBOR term is used for :

(1) Deposit rate in European market
(2) Interest rate in Euro currency market
(3) Deposit rate applicable to interbank loans in London
(4) Interest rate in Euro bond market

4. Which of the following characterises the early stage financial crises ?

(1) Falling the price of residential properties
(2) Excessive euphoria about the future price of certain assets
(3) Excessive pessimism about future assets price
(4) Stragnating share price

5. Assertion (A) : In 1991 Government decided to allow all foreign investments to any
industry without any restrictions.
Reason (R) : Government has enhanced the investment limit of small scale industrial
units.
Codes :
(1) Both (A) and (R) are true and (R) is the correct explanation of (A).

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(2) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(3) (A) is true but (R) is false.
(4) (A) is false but (R) is true.

6. When a business is purchased, any amount paid in excess of the total of assets, minus
the liabilities taken, is called :
(1) Share Premium
(3) Capital Employed
(2) Goodwill
(4) Working Capital

7. Indicate the correct code as regards the sources of funds for a Funds Flow Statement
from the following :
(a) Increase in working capital
(b) Decrease in working capital
(c) Writing off the intangible/fictitious assets
(d) Issuing equity shares for acquisition of a building for office
(e) Charging depreciation on fixed assets
Codes :
(1) (a), (c), (d)
(2) (b), (c), (e)
(3) (a), (d), (e)
(4) (b), (c), (d)

8. Which of the following statements are correct ?

(a) Analysis and interpretation of financial statements, is a function of accounting.
(b) Profit and Loss account is prepared for ascertaining financial position of a firm.
(c) Goodwill is a wasting asset.
(d) Balance Sheet is prepared for ascertaining financial position of a firm.
Select the correct answer using the codes given below :
Codes :
(1) (a) and (b)
(2) (a) and (c)
(3) (a) and (d)
(4) (b) and (c)

9. Match the items of List - I with those of the List - II and indicate the correct code for the
following :
List - I List - II
(a) Debtors Turnover Ratio (i) Solvency Ratio
(b) Proprietary Ratio (ii) Liquidity Ratio
(c) Operating Ratio (iii) Activity Ratio
(d) Acid Test Ratio (iv) Profitability Ratio

Codes :
(a) (b) (c) (d)
(1) (ii) (iv) (iii) (i)
(2) (iii) (ii) (i) (iv)

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(3) (iii) (i) (iv) (ii)
(4) (iv) (iii) (ii) (i)

10. For the following two statements of Assertion (A) and Reasoning (R), indicate the
correct
code :
Assertion (A) : Cash Flow Statement as per the financial statements as well is incapable in
revealing the overall financial position of a firm.
Reasoning (R) : Cash is an important constituent of the working capital based on the
recorded facts only.
Codes :
(1) (A) and (R) both are correct and (R) is an explanation of (A).
(2) (A) is correct but (R) is not correct.
(3) (A) is not correct but (R) is correct
(4) (A) and (R) both are incorrect

11. For the following two statements of Assertion (A) and Reasoning (R), indicate the
correct code :
Assertion (A) : The quantity of a commodity demanded invariably changes inversely to
changes in its price.
Reasoning (R) : The price effect is the net result of the positive substitution effect and
negative income effect.
Codes :
(1) (A) and (R) both are correct.
(2) (A) is correct but (R) is incorrect.
(3) (A) is incorrect but (R) is correct.
(4) (A) and (R) both are incorrect.

12. Economic capacity of a plant represents its :

(1) maximum physical output level
(2) average output level over a period
(3) break-even output and sales level
(4) output level that equates the average and the marginal costs

13. Match the items of List - I with those of the List - II and indicate the correct code :
List - I List - II
(a) Excess capacity of the plant (i) Cost reduction with output expansion
(b) Resorting to New Technology (ii) Constant cost with output expansion
(c) Setting up of the Training Institutions (iii) Internal economies
(d) Reserve capacity of the plant (iv) External economies
Codes :
(a) (b) (c) (d)
(1) (i) (iii) (iv) (ii)
(2) (iii) (i) (iv) (ii)
(3) (ii) (iii) (i) (iv)
(4) (iv) (ii) (iii) (i)

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14. In case the elasticity of demand on an average revenue curve is equal to unity, the
marginal revenue will be :
(1) more than unity
(2) equal to unity
(3) equal to a fraction of unity
(4) equal to zero

15. Match the items of the List - I with those of the List - II and indicate the correct code :
List - I List - II
(a) Trade Channel Discount (i) Oligopoly Pricing
(b) Loss Leadership (ii) Locational Price Differentials
(c) Pricing being non - responsive to (iii) Differential Pricing
changes in the demand and the cost

(d) Basing Point Pricing (iv) Product - Line Pricing

Codes :
(a) (b) (c) (d)
(1) (iv) (iii) (ii) (i)
(2) (iii) (iv) (i) (ii)
(3) (ii) (iii) (iv) (i)
(4) (i) (ii) (iii) (iv)

16. Statement - I : When a null hypothesis gets rejected in statistical hypothesis testing, it
is known as II type - error in hypothesis testing.
Statement - II : When a sample is small sized and parametric value of the standard
deviation is not known, z - test is the most appropriate test for hypothesis testing.
Codes :
(1) Both statements are correct
(2) Both statements are incorrect
(3) Statement - I is correct while statement - II is incorrect
(4) Statement - I is incorrect while statement - II is correct

17. The following are the estimated regression equations for x and y variables :
x50.85y
y50.89x
With this information, the value of the coefficient of correlation would be :
(1) 0.87
(2) 0.86
(3) 0.89

18. The power of the statistical hypothesis testing is denoted by :

(1) a (alpha)
(2) b (beta)
(3) 1 - a
(4) 0.75
(4) 1 – b

19. Match the items of List - I and List - II and indicate the code of correct matching of the
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20. Assertion (A) : A reasonably large sized sample drawn randomly from a given
population contains almost all the characteristics of the population.
Reason (R) :
As per the sampling theory, the assertion is based only on the Law of Inertia
of Large Numbers.
Codes :
(1) Assertion (A) is correct and Reason (R) as per the sampling theory is also fully correct.
(2) Assertion (A) is correct but the Reason (R) as per the sampling theory is not fully
correct.
(3) Both Assertion (A) and Reason (R) are incorrect.
(4) Assertion (A) is incorrect but the Reason (R) is sufficient as per the sampling theory.

21. Which of the following approaches of team building is based on the belief that each
person possesses positive and negative characteristics that must be owned up to a
permitted expression ?
(1) Process approach
(3) Role analysis approach
(2) Gestalt approach
(4) Parallel learning structure approach

22. Which of the following factors lead to group cohesiveness ?

(a) agreement on group goals
(b) high intra-group competition
(c) frequent interaction of members
(d) personal attractiveness
Codes :
(1) (a) and (b)

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(2) (a), (b) and (c)
(3) (a), (c) and (d)
(4) (a), (b) and (d)

23. Assertion (A) : ‗Uncertainty Avoidance‘ is one of the dimensions of cultural differences,
as identified by Geert Hofstede.
Reasoning (R) : ‗Uncertainty Avoidance‘ is the extent to which people feel threatened by
ambiguous situations. To avoid such situations, organisations provide greater career
stability, make more formal rules and reject deviant behaviours.
Codes :
(1) (A) is wrong (R) is right
(2) Both (A) and (R) are wrong
(3) Both (A) and (R) are right and (R) is the correct explanation of (A)
(4) Both (A) and (R) are right but (R) is not the correct explanation of (A)

24. Which of the following is the internal conflict or anxiety that occurs when people
receive information incompatible with their value systems, prior decisions and knowledge
?
(a) Polarisation
(b) Cognitive dissonance
(c) Premature evaluation
(d) Projection
Codes :
(1) (a) and (b)
(2) Only (b)
(3) Only (d)
(4) (a), (b), (c) and (d)

25. Matrix organisation structure is essentially a violation of the principle of :

(1) Unity of Command
(2) Scalar Chain
(3) Unity of Direction
(4) Division of Labour

26. Which of the following statements is not true ?

(1) One sided messages work best with audiences those are initially predisposed to
Communicator‘s position.
(2) Two sided arguments work best with audiences who are similar and not opposed.
(3) Two sided messages tend to be more effective with better educated audiences.
(4) Two sided messages tend to be more effective with audiences those are likely to be
exposed to counter propaganda.

27. In the course of converting to a marketing-oriented company, a company may face

which of the following hurdles ?
(1) Organised resistance
(3) Fast forgetting
(2) Slow learning
(4) All of the above

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28. A person‘s distinguishing psychological characteristics that lead to relatively

consistent and enduring responses to his or her environment is called :
(1) Life style
(2) Self-concept
(3) Personality
(4) Attitude

29. When electronic markets permit prices to change faster even daily as a function of
demand and supply then this practice is called :
(1) competitive pricing
(2) e-marketing pricing
(3) yield management pricing
(4) none of the above

30. Match the strategies given in List - I with the examples given in List - II :
List - I(Strategies) List – II (Examples)
(a) Differential Pricing (i) Customer lounges to sit in while waiting
for a table at service centres, etc.
(b) Complimentary Service (ii) Breakfast service by McDonald‘s and
mini vacation and weekends by hotels
(c) Reservation System (iii) Low prices for early and evening movies,
weekend discounts for car parking rentals
(d) Non-peak Demand Cultivation (iv) Airlines, Hotels and Physicians employ
extensively
Codes :
(a) (b) (c) (d)
(1) (i) (iii) (ii) (iv)
(2) (iv) (ii) (i) (iii)
(3) (ii) (i) (iv) (iii)
(4) (iii) (i) (iv) (ii)

31. From investors point of view, the cost of capital is :

(1) Interest Rate
(2) Market Value
(3) Yield of Capital Sacrifice
(4) Stock Exchange Value

32. Formula for net cash inflow of a project is :

(1) Sales2Operating Expenses2Interest2Tax
(2) Sales2Operating Expenses
(3) Net Profit after tax1Depreciation
(4) Gross Profit1Depreciation

33. Concentration Banking is a method of :

(1) Decentralised collection
(3) Direct collection
(2) Centralised collection
(4) Payment only through cheques
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34. In case, cost of capital is 10%, EPS10, IRR 8% and Retention Ratio is 60%, then the
value of equity share as per Gordon's Model will be :
(1) ₹100
(2) ₹87
(3) ₹90
(4) ₹77

35. A firm with high operating leverage has :

(1) Low fixed cost in its production process
(2) High variable cost in its production process
(3) High fixed cost in its production process
(4) Low variable cost in its production process

36. Match the items of List - I with List - II according to ‗The Harvard Framework‘
developed for HRM :
List - I List - II
(a) Stakeholder‘s interest (i) Work systems
(b) Situational factor (ii) Cost - effectiveness
(c) HRM policy choice (iii) Individual well-being
(d) HR outcome (iv) Government
(e) Long - term consequence (v) Business strategy
Codes :
(a) (b) (c) (d) (e)
(1) (iv) (i) (ii) (iii) (v)
(2) (v) (iv) (ii) (i) (iii)
(3) (iv) (v) (i) (ii) (iii)
(4) (i) (v) (ii) (iii) (iv)

37. The committees which promote worker‘s participation in management are usually
established only at the :
(1) Corporate level
(3) Shop-floor level
(2) Plant level
(4) All of the above

38. Choose the correct code for the statements given below :
Statement (I) : T-group and sensitivity training are not the same.
Statement (II) : T-group participants belong to a diverse groups and may not be familiar
with each other.
Statement (III) : T-group training sessions are well structured.
Codes :
(1) Statements (I) and (II) only are correct
(2) Only (II) and (III) statements are correct
(3) All the three statements are correct
(4) Only statement (II) is correct

39. A review is heavily influenced only by any one characteristic of the employee whose

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performance is being reviewed is known as :
(1) Recency of Events Error
(3) Logical Error
(2) Central Tendency
(4) Halo Effect

40. Which one of the following tests is not recommended for the top level positions ?
(1) Presentations
(2) Role plays
(3) Interviews
(4) Leaderless group discussions

41. Select the major principles which banks strive to incorporate in their working from the
following :
(a) Profitability
(c) Social welfare
(e) HRD
(b) Labour welfare
(d) Safety
(f) Liquidity
Codes :
(1) (a), (b), (d), (e)
(2) (a), (c), (d), (f)
(3) (c), (d), (e), (f)
(4) (a), (b), (c), (d)

42. Identify the years in which different phases of Bank Nationalisation took place in
India:
(a) 1950
(b) 1955
(c) 1969
(d) 1949
(e) 1980
Codes :
(1) (a), (b), (c), (d)
(2) (b), (c), (e)
(3) (b), (d), (e)
(4) (c), (d), (e)

43. ‗SWIFT‘ stands for :

(1) Society for Worldwide Inter-bank Fund Transfer
(2) Society for Worldwide Inter-bank Fast Transmission
(3) Society for Worldwide Inter-bank Financial Telecommunications
(4) None of the above

44. Select the techniques of monetary control adopted by RBI from the following :
(a) Cash Reserve Ratio
(b) Statutory Liquidity Ratio

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(c) Bank Rate
(d) Currency Rate
Codes :
(1) (a), (b), (c), (d)
(2) (b), (c), (d)
(3) (a), (c), (d)
(4) (a), (b), (c)

45. Which of the following is not a development banking institution ?

(1) IDBI
(2) IFCI
(3) EXIM Bank
(4) ICICI

46. Which of the following is not a characteristic of bartering internationally ?

(1) Bartering can be time - consuming.
(2) Bartering can be expensive.
(3) Bartering is a type of service export and import.
(4) Bartering can be risky.

47. Assertion (A) : International business has grown in more recent years at a faster pace
than global production.
Reason (R) : Growth through trade has increased, but growth through foreign direct
investment has not.
Codes :
(1) Both (A) and (R) are correct
(2) (A) is correct but (R) is incorrect
(3) (A) is incorrect but (R) is correct (4) Both (A) and (R) are incorrect

48. Identify the multinational corporations (MNCs) from the following :

(a) IOCL
(b) GAIL
(d) SAIL
(e) Tata Steel
(c) SBI
(f) Bharat Petroleum
Codes :
(1) (a), (b), (c), (d)
(2) (b), (c), (d), (e)
(3) (c), (d), (e), (f)
(4) (a), (c), (e), (f)

49. Statement-I : Legal agreements between two countries govern how both the countries
tax earnings.
Statement-II : International Law may determine how and whether companies can operate
in a certain locale.
Codes :
(1) Both the statements are true

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(2) Both the statements are false
(3) Statement-I is true but Statement-II is false
(4) Statement-I is false but Statement-II is true

50. Which of the following is an example of an issue for which an agreement has not been
made between two or more countries ?
(1) Restricting harmful emissions
(2) Deep-sea mining in non-coastal areas of the oceans
(3) Preserving endangered species
(4) Banning the use of certain pesticides

51. Match the items of List - I with List - II :

List - I List - II
(a) Intangible Assets (i) Ind AS 31
(b) Impairment of Assets (ii) Ind AS 34
(c) Interim Financial Reporting (iii) Ind AS 36
(d) Interests in Joint Ventures (iv) Ind AS 38
Codes :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (iv) (iii) (ii) (i)
(3) (iv) (i) (ii) (iii)
(4) (iv) (ii) (i) (iii)

52. Assertion (A) : Human Resource Accounting is the measurement of the cost and value
of people to the organization.
Reasoning (R) : Human Resource Accounting involves measuring costs incurred by the
organizations to recruit, select, hire, train and develop employees and judge
their economic value to the organization.
Codes :
(1) Assertion (A) and Reasoning (R) are correct and (R) is the right explanation of (A)
(2) Assertion (A) and Reasoning (R) are correct and (R) is not the right explanation
of (A)
(3) Assertion (A) is correct but Reasoning (R) is incorrect
(4) Both Assertion (A) and Reasoning (R) are incorrect

53. For the discharge of its functions efficiently, SEBI has been vested with the following
powers :
(a) to approve by-laws of stock exchanges
(b) to direct the stock exchanges to amend their by-laws
(c) inspect the books of accounts and call for periodical returns from recognized stock
exchanges
(d) inspect the books of accounts of financial intermediaries
(e) compel certain companies to list their shares in one or more stock exchanges
(f) registration of brokers
Codes :
(1) (a), (b), (c) and (f)
(2) (a), (c), (d) and (f)

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(3) (b), (c), (d), (e) and (f)
(4) (a), (b), (c), (d), (e) and (f)

54. Consider the following characteristics :

(a) High risk high return opportunity
(b) Small and medium size enterprise
(c) Private equity stakes in start-ups
(d) Investment fund
The above attributes are found in :
(1) Mutual Funds
(2) Venture Capital Funds
(3) Qualified Institutional Buyers
(4) Domestic Institutional Investors

55. Identify the incorrect statement(s), regarding money market, among the following :
(a) The call money market deals in short term finance repayable on demand, with a
maturity
period varying from one day to 14 days.
(b) Treasury bills are instruments of short-term borrowing by the Government of India,
issued as promissory notes under discount.
(c) A reduction in the repo rate helps banks to get money at a cheaper rate.
(d) Money market mutual funds invest money in specifically, high-quality and very short
maturity-based money market instruments.
Codes :
(1) (a) and (c)
(3) (d)
(2) (b)
(4) None of the above

56. Buyers are less price sensitive when they cannot easily compare the quality
substitutes.
Which of the following factors of price sensitivity is reflected from this statement ?
(1) Substitute - awareness effect
(3) Price quality effect
(2) Unique value effect
(4) None of the above

57. The model of decision support where there is recommendation of the type of
advertisement with humourous and slice of life kinds of appeals to use for given
marketing goals and characteristics of products, target markets and competitive
situations is known as :
(1) MEDIAC
(2) PROMOTOR
(3) ADCAD
(4) COVERSTORY

58. Which of the following statements is not true ?

(1) Marketing profitability analysis measures the profitability of different marketing

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activities.
(2) Marketing efficiency studies try to determine how various marketing activities could
be carried out more efficiently.
(3) Each company needs to reassess periodically its marketing effectiveness through a
control instrument called marketing audit.
(4) All the above are true

59. Industry boundaries are blurring at an incredible rate as companies are recognizing
that the new opportunities lie at the intersection of two or more industries, it is called :
(1) Globalization
(3) Industry convergence
(2) Customization
(4) Acquisition

60. A picture of two characters is presented, with one making a statement. Respondents
are asked to identify with the other and fill in the empty balloon.
This description belongs to which one of the following projective techniques ?
(1) Thematic Apperception Test
(2) Picture Completion Test
(3) Sentence Completion Test
(4) Story Completion Test

61. Match the items of List - I with the items of List - II :

List – I (Job Analysis) List – II (Examples)
(a) Task (i) Payroll processing
(b) Element (ii) Compensation policy administrator
(c) Duty (iii) Compensation design manager
(d) Position (iv) Compensation specialist
(e) Job (v) Preparing forms
(f) Occupation (vi) Signing pay- cheques
Codes :
(a) (b) (c) (d) (e) (f)
(1) (i) (ii) (iii) (iv) (v) (vi)
(2) (v) (vi) (i) (ii) (iii) (iv)
(3) (vi) (v) (iv) (ii) (iii) (i)
(4) (vi) (i) (ii) (iii) (iv) (v)

62. In which of the following types of collective bargaining, one party gains at the expense
of the other ?
(1) Distributive bargaining
(3) Centralized bargaining
(2) Integrative bargaining
(4) None of the above

63. Which one of the following dispute settlers cannot make a binding decision ?
(1) Arbitrator
(2) Adjudicator
(3) Conciliator

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(4) Industrial tribunal member

64. Ensuring the safety, health and welfare of the employee is the primary purpose of
which one of the following Acts ?
(1) The Factories Act, 1948
(2) The Payment of Wages Act, 1936
(3) The Equal Remuneration Act, 1976
(4) The Industrial Disputes Act, 1947

65. Match the items of List - I with the items of List - II and select the correct code :
List - I List - II
(a) Pension scheme (i) Health Care for family
(b) Personal security (ii) Severance Pay
(c) Financial assistance (iii) Provident Fund
(d) Allowance (iv) Transport Allowance
Codes :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (iii) (i) (ii) (iv)
(3) (iii) (ii) (i) (iv)
(4) (i) (iv) (ii) (iii)

66. Examine the following statements and choose the correct answer :
Statement - I : FIIs do not invest in unlisted securities. They participate only through
Stock Exchanges.
Statement - II : FIIs cannot invest at the time of initial allotment.
Codes :
(1) Both the statements are wrong
(2) Both the statements are correct
(3) Statement-I is correct but the statement-II is wrong
(4) Statement-I is wrong but the statement-II is correct

67. Which one of the following is not a member country in the Association of South-East
Asian Nations (ASEAN) ?
(1) Singapore
(2) Malaysia
(3) Thailand
(4) Vietnam

68. Match the items of List - I with the items of List - II and select the correct answer with
the codes given below :
List - I List - II
(a) SAAR (i) Philippines
(b) ASEAN (ii) Canada
(c) EU (iii) Afghanistan
(d) NAFTA (iv) Hungary
Codes :
(a) (b) (c) (d)

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(1) (ii) (iv) (i) (iii)
(2) (iv) (ii) (i) (iii)
(3) (iii) (i) (iv) (ii)
(4) (iii) (iv) (ii) (i)

69. Which among the following are criticisms given against World Trade Organization
(WTO) ?
(a) It is not a democratic and transparent institution.
(b) It has domination of international trade by rich countries for the benefit of their
individual interests.
(c) It encourages a race to the bottom‘ in wages by pitting workers against each other
rather than promoting internationally recognized labor standards.
(d) It is seeking to privatize essential public services.
Codes :
(1) (b), (c) and (d)
(2) (a), (b) and (c)
(3) (a), (b) and (d)
(4) (a), (b), (c) and (d)

70. Domestic Currency tends to depreciate owing to :

(1) Constant inflation rate
(2) Lowering of inflation rate
(3) High inflation rate
(4) ALL OF THE ABOVE

71. Consider the following conditions :

(a) An individual is in India for a period of 182 days in the financial year in which he is
getting his salary income.
(b) An individual is in India for a period of 60 days or more during financial year in which
he gets his salary and 365 days or more during 4 years immediately preceding to that
financial year.
If one of the above conditions is satisfied, as per the provisions of Income Tax Act, 1961,
he is :
(1) Resident but not ordinarily resident of India
(2) Non-resident citizen of India
(3) Resident and categorised citizen of India U/S 29
(4) Ordinary resident of India

72. Agriculture income is exempted from income tax under the following section of Income
Tax Act, 1961 :
(1) 2 (1A)
(2) 10 (1)
(3) 10 (2)
(4) 10 (4)
(4) All of the above

73. Match the items of List - I with List - II :

List - I List - II

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(a) When the assessee is in default or is (i) Section 271 (1) (c)
deemed to be in default in making payment
of tax, including the tax deducted at source
(b) Failure to pay the advance tax as (ii) Section 273 (1)
directed by the Assessing Officer
(c) Concealment of particulars of income or (iii) Section 201 (1)
furnishing of inaccurate particulars of
income
Codes :
(a) (b) (c)
(1) (i) (ii) (iii)
(2) (iii) (ii) (i)
(3) (iii) (i) (ii)
(4) (ii) (i) (iii)

74. Assertion (A) : Tax evasion is undertaken by employing unfair means. Reasoning (R) :
Payment of tax is avoided through illegal means or fraud for tax evasion. Codes :
(1) Assertion (A) is correct and Reasoning (R) is the right explanation of (A).
(2) Assertion (A) is correct but Reasoning (R) is not the right explanation of (A).
(3) Both Assertion (A) and Reasoning (R) are correct independently and (R) may be
considered as an explanation of (A).
(4) Both Assertion (A) and Reasoning (R) are incorrect.

75. Which among the following are necessary documents to file Income Tax Return for an
employed person in India ?
(a) Adhar Card
(b) PAN Card
(c) Form No. 16 issued by employer
Codes :
(1) (a) only
(2) (a) and (b)
(3) (a), (b) and (c)
(4) (b) and (c)

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ANSWERS
1 3 16 2 31 3 46 3 61 2
2 3 17 2 32 3 47 2 62 1
3 3 18 4 33 1 48 4 63 3
4 2 19 4 34 4 49 1 64 1
5 4 20 2 35 3 50 2 65 2
6 2 21 2 36 3 51 2 66 1
7 3 22 3 37 4 52 1 67 *
8 3 23 3 38 1 53 4 68 3
9 1 24 2 39 4 54 2 69 4
10 3 25 1 40 2 55 4 70 3
11 4 26 2 41 2 56 4 71 4
12 1 27 4 42 2 57 3 72 2
13 4 28 3 43 3 58 4 73 2
14 2 29 3 44 4 59 3 74 1
15 2 30 4 45 3 60 2 75 4

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UGC NET PYQ COMMERCE JUNE 2015 PAPER II

1. The worlds first electronic stock market is :
(1) KOSPI
(2) Nikkie
(3) NASDAQ
(4) Dow Jones

2. The Human Development Index (HDI) is introduced by :

(1) UNDP
(2) UNICEF
(3) IMF
(4) World bank

3. Examine the following statements and choose the correct code :

Assertion (A) : American style option, compared to European style, provides more freedom
to option holders in exercising the option.
Reason (R) : American style option can be exercised only at a specified date which is
generally the expiration date.
Codes : (1) Both (A) and (R) are correct.
(2) Both (A) and (R) are wrong. (3) (A) is correct, but (R) is wrong. (4) (A) is not correct, but
(R) is correct.

4. From the statements given below, identify the correct code :

Statement (I) : The key strategy behind acquiring a company is to create share holder
value.
Statement (II) : Conglomeration is a merger between two companies that have common
business areas.
Statement (III) : MRTP Act got replaced by the Competition Act, 2002 in India. Codes :
(1) All the three statements are correct.
(2) Statements (I) and (II) only are correct.
(3) Statements (I) and (III) only are correct.
(4) Statement (II) only is correct.

5. From the following, identify the tools of fiscal policy :

(i) Public expenditure
(ii) Open market operations
(iii) Deficit financing
(iv) Taxation
(v) Reserve requirements
Codes :
(1) (i), (iii), (iv) and (v)
(2) (i), (ii), (iv) and (v)
(3) (ii) and (v)
(4) (i), (iii) and (iv)

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6. The basic difference between a static budget and flexible budget is that :
(1) A flexible budget considers only variable costs but a static budget considers all costs.
(2) Flexible budgets allow management latitude in meeting goals, whereas static budget is
based on fixed standards.
(3) A flexible budget is applicable for a single department only but a static budget for
entire production facility.
(4) A flexible budget can be prepared for any production level within a relevant range but
a static budget is based on one specific level of production.

7. A retiring partner continues to be liable for obligations incurred after his retirement :
(1) If unpaid amount is transferred to his loan account.
(2) If he does not give public notice.
(3) If he starts a similar business elsewhere.
(4) In all the situations till he survives.

8. In what order, the following assets are shown in the balance sheet of a company ?
(i) Trade receivables
(ii) Cash
(iii) Furniture and fittings
(iv) Investment in shares and debentures
Codes :
(1) (ii), (i), (iv), (iii)
(2) (i), (ii), (iii), (iv)
(3) (iii), (iv), (i), (ii)
(4) (iv), (iii), (ii), (i)

9. When opening stock is ₹50,000, closing stock is ₹ 60,000 and the cost of goods sold is
₹ 2,20,000, the stock turnover ratio is :
(1) 2 times
(2) 3 times
(3) 4 times
(4) 5 times

10. If : Stock turnover ratio is56 times

Average stock = ₹8,000
Selling price = ₹25% above cost
What is the amount of gross profit ?
(1) ₹2,000
(2) ₹ 4,000
(3) ₹ 10,000
(4) ₹ 12,000

11. A rectangular hyperbola shaped demand curve on all its points has :
(1) Equal slopes of the price demand curve
(2) Price elasticity equal to unity
(3) Varying price elasticity
(4) Both slope and price elasticity equal

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12. In case of short-run equilibrium, a perfectly competitive firm while earning abnormal
profits operates at an output level where :
(1) Marginal cost is the minimum
(2) Average cost is the minimum
(3) Both marginal cost and average cost are equal
(4) Marginal cost is higher than average cost

13. Which one of the following statements is false ?

(1) Normally, a price demand curve slopes downward from left to right.
(2) Economies of scale and economies of scope are the same.
(3) For optimization, equality between marginal cost and marginal revenue is a necessary
condition but it is not a sufficient one.
(4) Law of variable proportions denotes input-output relationship during short-run.

14. Match the items of List-I with the items of List-II :

List-I List-II
(a) Law of diminishing marginal utility (i) Cross demand
(b) Relationship between price of one (ii) Oligopoly
commodity and demand for other
commodity
(c) Skimming the cream policy (iii) Cardinal approach
(d) Price rigidity (iv) Pioneer pricing
Codes :
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (iii) (i) (ii) (iv)
(3) (ii) (iv) (i) (iii)
(4) (iv) (iii) (ii) (i)

15. The following are the demand and supply equations in a perfectly competitive market :
P=12+0.3 QS
P=40-0.4 QD
The equilibrium market price would be :
(1) 24
(2) 10
(3) 40
(4) 20

16. Which of the following is not an accounting software package ?

(1) Quick Books
(2) Sage one
(3) Sage M
(4) Sage 50

17. Which one of the following formula is used to calculate probable error of correlation-
coefficient between two variables of n pairs of observations ?

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18. If the population is heterogeneous, which one of the following probability sampling
methods is more appropriate ?
(1) Sequential sampling
(3) Double sampling
(2) Quota sampling
(4) Stratified sampling

19. Which of the following relating to normal distribution are not correct ?
(i) Co-efficient of skewness is three.
(ii) It is mesokurtic.
2
(iii) Mean deviation for it is 𝜎
3
(iv) 𝜇 ± 2𝜎covers 95.45% area.
(v) Mean, median and mode are equal.
(vi) The standard normal variate z has mean one and SD zero.
Codes :
(1) (i), (iii) and (vi)
(2) (iii), (iv) and (v)
(3) (i), (iii) and (v)
(4) (i), (iii) and (iv)

20. Which one of the following statements is false ?

(1) Both correlation and regression co-efficients have same sign.
(2) Arithmetic mean of the regression co-efficients is always more than the correlation
co-efficient.
(3) Regression co-efficients are independent of both the origin and scale.
(4) Correlation co-efficient is the square root of two regression co-efficients.

21. Match the items of List-I with List-II :

List-I List-II
(a) He who can manage, can manage (i) Henry Fayol
anything.
(b) Due to these experiments, a factory does (ii) William
not remain a factory, it is converted into a
laboratory.
(c) Management succeeds or fails as human (iii) F.W. Taylor
relations in business are intelligently or
unintelligently handled.
(d) A place for everything, and everything in (iv) Lawrance
its place.
Codes :
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(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (i) (ii) (iv) (iii)
(3) (iv) (iii) (ii) (i)
(4) (iii) (ii) (i) (iv)

22. Assertion (A) : Management is mainly associated with economic affairs.

Reasoning (R) : Big business houses are the result of effective financial management.
Codes :
(1) (A) is correct and (R) is the right explanation of (A).
(2) Both (A) and (R) are correct but (R) is not the right explanation of (A).
(3) (A) is incorrect but (R) is correct in isolation.
(4) Both (A) and (R) are incorrect.

23. Areas of establishing objectives under MBO are :

(i) Market Standing
(ii) Innovation
(iii) Industrial Relations
(iv) Public Accountability
(v) Productivity
(vi) Industrial Policy
Codes :
(1) (iii), (iv), (v) and (vi)
(2) (i), (ii), (iv) and (v)
(3) (i), (ii), (v) and (vi)

24. Match the items of List-I with List-II :

List-I List-II
(a) Management of Tomorrow (i) Chris Argyris
(b) Motivation and Personality (ii) Fredrick Hergberg
(c) The Motivation of Work (iii) L.F. Urwick
(d) Personality and Organisation (iv) A.H. Maslow
Codes :
(a) (b) (c) (d)
(1) (i) (iv) (ii) (iii)
(2) (iii) (iv) (i) (ii)
(3) (iv) (iii) (ii) (i)
(4) (iii) (iv) (ii) (i)
(4) (ii), (iii), (iv) and (v)

25. Narayan Murthy Committee revised its recommendations on Corporate Governance as

on 29th October 2004 which diluted the following areas :
(i) Independence of Directors
(ii) Whistle Blower Policy
(iii) Performance evaluation of Non-Executive Directors
(iv) Mandatory training of Non-Executive Directors
Codes :
(1) (i), (ii) and (iii) only

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(2) (i) and (iii) only
(3) (i), (ii) and (iv) only
(4) All (i), (ii), (iii) and (iv)

26. The service marketing mix is an extended marketing mix and includes :
(i) People
(ii) Process
(iii) Service
(iv) Physical evidence
Codes :
(1) (ii), (iii) and (iv)
(2) (i), (ii) and (iii)
(3) (i), (ii) and (iv)
(4) (i), (iii) and (iv)

27. Black box model in marketing relates to :

(1) Marketing planning
(2) Marketing mix
(3) Marketing control
(4) Consumer behaviour

28. Items, considered part of the augmented product, do not include :

(1) Guarantee
(2) Warranty
(3) Complementary products
(4) Channels of distribution

29. Which of the following is not a type of direct marketing ?

(1) Direct mail marketing
(2) Retail marketing
(3) Telemarketing

30. Press release is a part of :

(1) Public relations
(3) Sales promotion
(4) Email direct marketing
(2) Advertising
(4) None of the above

31. In capital budgeting, the term capital rationing implies :

(1) that no retained earnings are available.
(2) that limited funds are available for investment.
(3) that no external funds can be raised.
(4) that no fresh investment is required in current year.

32. In certainty equivalent approach, adjusted cash flows are discounted at :

(1) Accounting Rate of Return
(2) Internal Rate of Return

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(3) Hurdle Rate
(4) Risk Free Rate

33. Combined leverage is calculated as :

(1) Operating Leverage1Financial Leverage
(2) Operating Leverage2Financial Leverage
(3) Operating Leverage3Financial Leverage
(4) Operating Leverage4Financial Leverage

34. Which of the following is not true with reference to capital budgeting ?
(1) Capital budgeting is related to asset replacement decisions.
(2) Cost of capital is equal to minimum required return.
(3) Existing investment in a project is not treated as sunk cost.
(4) Timing of cash flows is relevant.

35. What is Economic Order Quantity ?

(1) Cost of an order
(3) Reorder level
(2) Cost of stock
(4) Optimum order size

36. Which of the following is not a basic objective of HRM ?

(1) To attract HR into the organisation
(2) To develop and motivate HR for better performance
(3) To have the reward and punishment system for HR
(4) To integrate and maintain HR in the organisation

37. What is gate hiring ?

(1) To select people who approach on their own for employment in the organisation.
(2) To select people who are recommended by the employees.
(3) To select people from public employment exchanges.
(4) To select people supplied by labour contractors.

38. Matching essential managers and essential positions is a step in the process of :
(1) Career Cycle
(2) Succession Planning
(3) Career Planning
(4) Career Stages

39. The barriers to effective performance appraisal are :

(i) Psychological blocks of managers
(ii) Faulty assumptions of the parties concerned
(iii) Technical pitfalls
(iv) Faulty written communications
Codes :
(1) All are correct.
(2) Only (ii) and (iii) are correct.
(3) Only (i) and (ii) are correct.

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(4) Only (i), (ii) and (iii) are correct.

40. Who has developed the ‗Systems Approach‘ of industrial relations ?

(1) John Dunlop
(2) Garry S. Becker
(3) Michael J. Jucius
(4) Edwin B. Flippo

41. In 1992, the banking sector reforms were introduced as per :

(1) C. Rangarajan Committee Report
(2) M. Narasimham Committee Report
(3) Suresh Tandulkar Committee Report
(4) Sukhamoy Chakrabarty Committee Report

42. For the purpose of extending rural banking and agro finance, the NABARD :
(1) Directly lends and monitors the rural borrowers
(2) Refinances the banks extending rural finance
(3) Refinances the rural borrowers obtaining credit from banks
(4) Directly finances the rural borrowers and gets refinance from government

43. When RBI grants loan to commercial banks and charges interest on it, it is called :
(1) Rapo rate
(2) Reverse Rapo rate
(3) Sweep stack rate, basic rate
(4) Bank rate

44. E-banking business is essentially regulated by the Information Technology Act, 2000,
under which personal signature is replaced by :
(1) Encrypted signature
(3) Digital signature
(2) Image signature
(4) Online signature

45. In order to control inflation and ensure stability in money market :

(1) The RBI works under the direction of ministry of finance, government of India.
(2) The RBI acts independently and can refuse the government directive.
(3) The RBI acts under the board of directors.
(4) The RBI‘s board of governors shall abide by the government directive.

46. In respect of international business, a project is called a turnkey project because :

(1) The licensee agrees to construct an entire plant in his home county and hands over the
key.
(2) The licensor starts the operation and hands over the key of the operating plant to the
licensee.
(3) The licensor starts the operation and then invites the licensee and hands over the key
to complete the remaining work.
(4) The licensor and the licensee jointly carry out the project and agree to share profit
equally.

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47. Match the items in List-I with the items in List-II : List-I
List-I List-ii
(a) Bretton woods conference (i) WTO
(b) Soft loan window (ii) World Bank
(c) Geneva (iii) IFC
(d) Loan to private sector (iv) IDA
Codes :
(a) (b) (c) (d)
(1) (i) (iii) (ii) (iv)
(2) (iv) (iii) (ii) (i)
(3) (ii) (iv) (i) (iii)
(4) (iv) (ii) (iii) (i)
48.Assertion (A) : The member nations, consistently finding balance of payments crisis,
may approach the World Bank seeking financial accommodation to mitigate the cirsis.
Reasoning (R) : The member nations facing balance of payments crisis can approach the
IMF seeking redressal of the BOP crisis.
Codes :
(1) (A) is correct and (R) is correct explanation of (A).
(2) (A) is correct but (R) is wrong.
(3) (R) is correct and (A) is wrong.
(4) Both (A) and (R) are wrong.

49. In computation of balance of payments, overall balance of payments5

(1) Balance of current account1Balance of capital account1Statistical discrepancy
(2) Export of goods and invisibles2Import of goods
(3) Foreign exchange inflow2Foreign exchange outflow
(4) Export of goods and invisibles1Import of goods and invisibles

50. The instrument chosen for enhancement of international liquidity is :

(1) Society for World wide Inter bank Financial Telecommunications (SWIFT)
(2) Special Drawing Rights (SDRs)
(3) Multilateral Netting
(4) Netting of Payment
ANSWERS
1 3 11 2 21 3 31 2 41 2
2 1 12 4 22 3 32 4 42 2
3 3 13 2 23 2 33 3 43 4
4 3 14 3 24 4 34 3 44 3
5 4 15 1 25 4 35 4 45 2
6 4 16 3 26 3 36 3 46 2
7 2 17 1 27 4 37 1 47 3
8 3 18 4 28 4 38 2 48 3
9 3 19 1 29 2 39 4 49 1
10 4 20 3 30 1 40 1 50 2

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UGC NET PYQ COMMERCE JUNE 2015 PAPER III

1. GNP at market prices - Indirect taxes + subsidies is referred to as:
(1) GNP at factor cost
(2) GDP at factor cost
(3) NNP at factor cost
(4) NDP at factor cost

2. EDI system got legal recognition under which one of the following Acts ?
(1) Electronics Act, 1996
(2) Right to Data Act, 1998
(3) DGFT Act, 1999
(4) Information Technology Act, 2000

3. Following statements are related to futures contracts. Choose the statements that are
not true:
(a) Purchase of a futures contract is called short position.
(b) Currency futures are traded on an exchange in standardised form and in fixed
quantity.
(c) Default risk in futures contract is high compared to forward contract.
Codes:
(1) only (a) and (b)
(2) only (a) and (c)
(3) (a), (b) and (c)
(4) only (b)

4. From the following, identify the trading blocks in the world and choose the correct code:
(a) European Union
(b) North American Free Trade Agreements
(c) South Asian Association of Regional Co-operation
(d) Central American Common Market
(e) Central African Customs Union
Codes:
(1) (a), (b) and (c)
(2) (a), (b), (c) and (d)
(3) (a), (b), (c), (d) a and (e)
(4) (a), (b) and (e)

5. Match the items of List - I with items of List II and choose the correct code:
List - I List - II
(a) Carroll Model (i) International trade
(b) Corlett Hague Rule (ii) Interest rate
(c) Hecksher Ohlin Theorem (iii) Principles of taxation
(d) Knut Wick sell's Theory (iv) Social responsibility of business
Codes:
(a) (b) (c) (d)

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(a) 4 3 1 2
(b) 3 2 1 4
(c) 3 1 2 4
(d) 2 3 1 4

6. Labour Rate of Pay Variance can be calculated by which one of the following equations?
(1) Budgeted Labour Costs-Actual Labour Costs
(2) (Standard Hours - Actual Hours) × Actual Wage Rate
(3) (Standard Wage Rate-Actual Wage Rate) × Actual Hours Worked
(4) (Standard Wage Rate-Actual Wage Rate) × Standard Hours Worked

7. Given:

Margin of Safety ₹80,000

Profit ₹20,000
Sales ₹30,00,000

What is the amount of Fixed Cost ?

(1) ₹ 1,00,000
(2) ₹75,000
(3) ₹ 55,000
(4) ₹20,000

8. Preparation of consolidated statement of accounts as per AS - 21is

(1) Optional
(2) Mandatory for Private Ltd. Companies
(3) Mandatory for Listed Companies
(4) Mandatory for all Companies

9. Which one of the following is not true of cash Budget?

(1) The shortage or excess of cash would appear in a particular period.
(2) All inflows would arise before outflows for those periods.
(3) Only revenue nature cash flows are shown.
(4) Proceeds from issue of share capital is shown as an inflow.

10. Study the following transactions:

(a) Raising of short term loans
(b) Goods purchased for cash
(c) Payment of bonus in the form of shares
(d) Issue of shares in lieu of raw materials Flow of funds is:
(1) (a), (b), (c), and (d)
(2) (b), (c), and (d)
(3) (c) and (d)
(4) only (d)

11. When a consumer increases units of X - commodity by giving up some units of Y-

commodity and even to attain the same level of satisfaction, the marginal rate of
substitution, will be calculated by:

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(1) Change in X - Commodity divided by change in Y - Commodity
(2) Change in X - Commodity divided by marginal utility of Y - Commodity
(3) Change in Y - Commodity divided by change in X - Commodity
(4) Change in Y - Commodity divided by marginal utility of X - Commodity

12. The following is the demand function in the small market: Q = 50 - 5P Where 'Q'
denotes quantity in physical units and 'P' denotes price of the commodity. At price 5, the
point price elasticity of demand would be :
(1) Zero
(2) Equal to unity
(3) Highly elastic
(4) Highly inelastic

13. Match the items of List - I with the items of List II and find out the correct matching.
List - II Name of the shapes of returns to List - I Production functions
scale
(a) O = 10.2K0.19 L0.88 (i) Constant Returns to scale
(b) Q = 1.01L0.75 K0.25 (ii) Diminishing Returns to scale
(c) Q = 0.84L0.63 K0.3 (iii) Increasing Returns to scale
Codes:
(a) (b) (c)
(1) (i) (ii) (iii)
(2) (ii) (i) (iii)
(3) (ii) (iii) (i)
(4) (i) (iii) (ii)

14. In the short-run, when a simple monopoly firm attains equilibrium and earns only
normal profit, its level of output will correspond to:
(1) Lowest average cost
(2) Average cost above optimum level of output
(3) Average cost equals marginal cost
(4) Marginal cost much below average cost

15. Which one of the following is a false statement?

(1) Ramsey pricing rates to the methodology of pricing to situations where firms are
regulated and the maximization of allocative efficiency is the objective of pricing together
with the objective of profit maximization.
(2) Peak-load pricing is a pricing practice where price varies with time of the day.
(3) Value-pricing is the practice of pricing where the price is set based on its value to the
customer.
(4) Two part tariff refers to a price structure which has two parts a lump sum charge and
a variable charge.

16. All the properties of order, interval and zero origin are simultaneously possessed by:
(1) Nominal Data
(2) Interval Data
(3) Ratio Data
(4) Ordinal Data

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17. Under which of the following situations, chi-square test is applicable ?

(a) testing homogenity
(b) testing goodness of fit
(c) testing equality of two sample means
(d) testing equality of two sample proportions
(e) testing independence of attributes
Codes:
(1) Only (a), (b) and (c)
(2) Only (a), (b) and (e)
(3) Only (c), (d) and (e)
(4) Only (a), (c) and (e)

18. Which one of the following is not the correct statement regarding sampling
distribution of mean?
(1) Sampling distribution of mean is normally distributed for large sized samples.
(2) Sampling distribution of mean is normally distributed for small sized samples drawn
from not normally distributed population.
(3) 't' distribution is not normally distributed.
(4) Mean of the sampling distribution of mean is equal to the parametric value of mean.

19. Consider the following statements and identify the wrong statements:
Statement - I : Accepting null hypothesis, when it is false, is called a level of significance.
Statement - II : 1-𝛼 is called power of a test.
Statement III: Critical value of Z - static for two - tailed test at 5% level of significance is
1.96.
Codes:
(1) Statements I, II and III
(2) Statements I and III
(3) Statements II and III
(4) Statements I and II

20. The process of thoroughly checking the collected data to ensure optimal quality level
is referred to as:
(1) Validation
(2) Editing
(3) Classification
(4) Entry

21. Statement (I): Management is the art of knowing what you want to do and then seeing
that it is done in the best and the cheapest way.
Statement (II):Management is the process of planning and regulating the activities of an
enterprise.
(1) Statement (I) is correct, but (II) is incorrect
(2) Statement (II) is correct, but (I) is incorrect
(3) Both the statements (I) and (II) are incorrect
(4) Both the statements (I) and (II) are correct

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22. Assertion - (A): No business runs itself, even on momentum………every business
needs repeated stimulus.
Reasoning (R): The management is the dynamic, life giving element in every business,
without its leadership, the resources of production remain as resources and never become
production.
(1) Assertion (A) and Reasoning (R), both are correct, and (R) is the correct explanation of
(A).
(2) Assertion (A) and Reasoning (R), both are correct, but (R) is not the correct explanation
of (A).
(3) Assertion (A) is correct, but Reasoning (R) is incorrect.
(4) Reasoning (R) is correct, but Assertion (A) is incorrect.

23. Match the items of List - I with List - II:

List - I List – II
(a) Credit Mobilier (i) Charles Babbage
(b) Charleton Twist Company (ii) Henry Fayol
(c) Difference Engine (iii) Claud Henri Saint Simon
(d) Commentry Four Chambault (iv) Robert Owen
Codes:
(a) (b) (c) (d)
(1) (iii) (iv) (i) (ii)
(2) (iii) (i) (iv) (ii)
(3) (i) (iii) (iv) (ii)
(4) (ii) (i) (iv) (iii)

24. Find out the correct combination of statements with regards to business ethics:
(a) Business ethics is the behaviour that a business adheres to in its daily dealings.
(b) The ethics of a particular business can be diverse.
(c) Business ethics has normative and descriptive dimensions.
(1) Only (a) and (b)
(2) Only (a) and (c)
(3) Only (b) and (c)
(4) All (a), (b) and (c)

25. Which one of the following is not correct about business ethics?
(1) Business ethics reflects the philosophy of business.
(2) Business ethics is a form of applied ethics.
(3) Business ethics are governed by the Government Policies.
(4) Ethics are the standards which govern decisions on daily basis.

26. A marketing network consists of:

(1) The tasks to devise marketing activities.
(2) The tasks of hiring, training and motivating employees.
(3) The activities that help in designing and implementing the marketing programmes.
(4) The company and its supporting stakeholders with whom it has built mutually
profitable business relationships.

27. Target marketing involves which of the following activities? followir

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(a) Market positioning
(b) Market targeting
(c) Market behaviour
(d) Market segmentation
Code:
(1) (a) and (b)
(2) (b) and (d)
(3) (a), (b) and (d)
(4) (b), (c) and (d)

28. The pricing strategy which adjusts the basic price to accommodate differences in
customers, products and locations is called:
(1) Differentiated pricing
(2) Promotional pricing
(3) Geographical pricing
(4) Price discounts and allowances

29. Horizontal marketing system comprises of:

(1) the producer, wholesaler and retailer acting in a unified system.
(2) multichannel marketing.
(3) two or more marketing channels to reach one or more customer segments.
(4) two or more unrelated companies put together resources to exploit an emerging
market.

30. Match the items of List I with the items of List II:
List -I List - II
(a) Face-to-face interaction with one or more (i) sales promotion
prospective purchasers Sales promotion
(b) Any paid form of nonpersonal promotion (ii) Public relations
(c) Short-term incentives to encourage (iii) Personal selling
purchase
(d) Programmes to promote company's (iv) Advertising
image
Codes:
(a) (b) (c) (d)
(1) (iii) (iv) (ii) (i)
(2) (iii) (iv) (i) (ii)
(3) (ii) (i) (iii) (iv)
(4) (ii) (iii) (i) (iv)

31. Which of the following techniques for appraisal of investment proposals are based on
time value of money?
(a) Accounting Rate of Return
(b) Internal Rate of Return
(c) Profitability Index Method
(d) Earnings Per Share
Codes:
(1) (a) and (b)

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(2) (b) and (c)
(3) (a) and (d)
(4) (a), (b) and (d)

32. On the basis of the following information, what will be the EBIT corresponding to
financial indifference point?
Total capital outlay 60,00,000
Financing Plans
(a) 100% Equity @ 10/- per share
(b) Debt equity ratio 2: 1
Rate of interest 18% p.a., corporate tax rate 40%
(1) ₹10,00,000
(2) ₹12,00,000
(3) ₹10,80,000
(4) ₹12,80,000

33. Which one of the following assumptions is not included in the James E. Walter
Valuation model?
(1) All financing by retained earnings only
(2) No change in the key variables such as EPS and DPS
(3) The firm has finite life
(4) All earnings are either distributed as dividends or invested internally immediately

34. Match the items of List - I with the items of List II and find out the correct matching.
List - I (Formulae) List - II (Type of leverages)
(a) Contribution/EBIT (i) Financial leverage
(b) EBIT/Earnings before Tax (EBT) (ii) Super leverage
(c) Contribution/EBT (iii) Operating leverage
Codes:
(a) (b) (c)
(a) 2 3 1
(b) 1 2 3
(c) 3 2 1
(d) 2 1 3

35. Statement I: Working capital leverage measures the responsiveness of Return on

Equity for changes in current Assets.
Statement II: When the annual demand for an item is 3200 units, unit cost 6, inventory
carrying charges 25% p.a. and cost of one procurement 150, the economic ordering
quantity would be 700 units.
Codes:
(1) Both statements are correct
(2) Both statements are incorrect
(3) Statement - I is correct and Statement II is incorrect
(4) Statement I is incorrect and Statement II is correct

36. Match the items of List I with the items of List - II:
List - I Conventional HRM List - II Strategic HRM

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(a) Staff specialists (i) Fast and proactive
(b) Slow and reactive (ii) People and knowledge
(c) Capital and products (iii) Line managers
(d) Cost centre (iv) Investment centre
Codes:
(a) (b) (c) (d)
(a) 2 1 3 4
(b) 2 3 1 4
(c) 3 2 1 4
(d) 1 2 3 4

37. Which one of the following is a traditional method for selection of personnel ?
(1) Interview
(2) Selection Test
(3) Phrenology
(4) Aptitude Test

38. The method of training in crafts, trades and technical areas is known as:
(1) Vestibule training
(2) Coaching
(3) Mentoring
(4) Apprenticeship

39. Behaviourally Anchored Rating Scale is a technique used for:

(1) Selection
(2) Succession Planning
(3) Performance appraisal
(4) Recruitment

40. Which one of the following is not a mechanism of managing stress ?

(1) Rust out
(2) Cognitive therapy
(3) Job enrichment
(4) Networking

41. Interest earned by a depositor against a deposit with a commercial bank for custodial
service:
(1) is a fund based income
(2) is a fee based income
(3) is a combination of fund and fee based gain
(4) is a commitment based gain

42. Match the items in List - I with the items in List II:
List - I List - II
(a) ATM card (i) NPA
(b) Debts due for more than 30 days (ii) John Shephard Barron
(c) Micro finance (iii) State Finance Corporations Act
(d) State level finance corporations (iv) NABARD

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Codes:
(a) (b) (c) (d)
(a) 1 3 2 4
(b) 2 1 4 3
(c) 4 3 2 1
(d) 2 1 3 4

43. Assertion (A): A well developed money market is the basis for an effective monetary
policy. It is in the money market that the Central Bank comes into contact with the
financial sectors of the economy as a whole and it is through the liquidity in the market
that influence the cost and availability of credit.
Reasoning (R): A well organised money market is an essential condition for the successful
operation of the Central Banking policies, and for holding the conditions of liquidity
within the bounds of what the monetary authorities consider desirable.
(1) (A) is true but (R) is false
(2) (R) is true but (A) is false
(3) (A) is true and (R) offers correct explanation to (A)
(4) Both (A) and (R) are false

44. The operations of banks and financial institutions are regulated by:
(1) The RBI Act 1934 only
(2) The Banking Regulation Act 1949 only
(3) Information Technology Act 2000 only
(4) All of the above

45. To operationalise online, internet, mobile banking, debit card and credit card tools,
some of the essential ingredients are:
(1) Compliance with the Information Technology Act 2000
(2) Satellite connection
(3) Selection of a portal and server
(4) All of the above

46. Any country consistently facing balance of payment deficiency can approach :
(1) The World Bank
(2) The Smithsonian Institute
(3) IMF
(4) The IMF and the IBRD

47. Counter-trade means:

(1) A sort of bilateral trade where one set of goods is exchanged for another set of goods
and a seller provides a buyer with deliveries.
(2) A company takes full responsibility for making its goods available in the target market
by selling directly to the end-users.
(3) The companies in two separate sovereigns agree to exchange one set of goods for
another set of goods.
(4) A set of multilateral trade where one of goods and services may be exchanged for
another set of goods and services among the trading partners.

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48. The floating rate system is characterised by:
(1) the market forces that determine the exchange rate between two currencies.
(2) the central banking authorities of the two countries mutually agree upon the rate.
(3) help realigning the par value of major currencies.
(4) the rate of exchange mutually agreed upon between IMF and its member nations.

49. A practice of selling a commodity in a foreign market at a price lower than the
domestic price; and even at equal to the cost of production to capture foreign market is
known as:
(1) Gouging
(2) Forging
(3) Dumping
(4) Forfeiting

50. The highest percentage of export from India went to which of the following regions in
2013-14?
(1) OECD countries
(2) USA
(3) SAARC
(4) Latin America

51. Match the items of List - I with the items of List - II and select a correct code:
List - I List - II
(a) SEB (i) Exchange for small companies
(b) RBI (ii) Secondary market in treasury bills
(c) STCI (iii) Regulation of secondary market
(d) OTCEI (iv) Ad-hoc treasury bills

Codes:
(a) (b) (c) (d)
(1) (iv) (ii) (iii) (i)
(2) (iii) (iv) (ii) (i)
(3) (iii) (i) (ii) (iv)
(4) (ii) (iii) (i) (iv)

52. X Ltd. goes into liquidation and a new company Z Ltd. purchases the business of X
Ltd. It is a case of:
(1) Amalgamation
(2) Absorption
(3) Internal reconstruction
(4) External reconstruction

53. When the cost incurred on recruiting, training and developing the employees is
considered for determining the value of employees, it is called:
(1) The replacement cost approach
(2) The historical cost approach
(3) The opportunity cost approach
(4) None of the above

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54. In India, NIFTY and SENSEX are calculated on the basis of:
(1) Market capitalisation
(2) Paid up capital
(3) Free-float market capitalisation
(4) Authorized share capital

55. Financial Instruments which are issued with detachable warrants and are redeemable
after certain period is known as:
(1) Deep Discount Bonds
(2) Secured Premium Notes
(3) Bunny Bonds
(4) Junk Bonds

56. Which of the following can be used by a company as communication mix to reach the
target customers ?
(a) Advertising
(b) Sales promotion
(c) Events and experiences
(d) Public relations
(e) Direct marketing
(f) Personal selling
Codes:
(1) (a), (b), (d) and (f)
(3) (a), (b), (d), (e) and (f)
(2) (a), (b), (e) and (f)
(4) (a), (b), (c), (d), (e) and (f)

57. In addition to motivation, learning and memory, which one of the following is included
in the main psychological processes affecting consumer behaviour?
(1) Perception
(2) Life cycle
(3) Life style
(4) Social class

58. Match the items of List I with the items of List - II:
List - I List - II
(a) Geographic Segmentation (i) Gender, income, religion
(b) Demographic Segmentation (ii) Knowledge, attitude, response
(c) Psychographic Segmentation (iii) Regions, cities, neighbourhoods
(d) Behavioural Segmentation (iv) Lifestyle, personality traits, values
Codes:
(a) (b) (c) (d)
(1) (ii) (iv) (iii) (i)
(2) (ii) (iv) (i) (iii)
(3) (iv) (ii) (i) (iii)
(4) (iv) (i) (ii) (iii)

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59. Which one of the following is not a stage in the product life cycle?
(1) Introduction
(2) Growth
(3) Equilibrium
(4) Decline

60. Which one of the following is correct statement in respect of co-branding?

(1) Co-branding is an umbrella branding of goods of a company.
(2) In co-branding, two or more well-known existing brands are combined into a joint
product.
(3) Co-branding is the process of combining two brands for promoting brand equity.
(4) All of the above

61. Which one of the following is not a major punishment ?

(1) Withholding of increments
(2) Demotion
(3) Transfer
(4) Suspension

62. Assertion (A): Job evaluation is essentially a job rating process, not unlike the rating
of employees.
Reasoning (R): Job evaluation is a practice which seeks to provide a degree of objectivity in
measuring the comparative value of jobs within an organisation and among similar
organisations.
(1) Both Assertion (A) and Reasoning (R) are correct
(2) Both Assertion (A) and Reasoning (R) are incorrect
(3) Assertion (A) is correct, but Reasoning (R) is incorrect
(4) Reasoning (R) is correct, but Assertion (A) is incorrect

63. Identify the correct combinations from the following:

Skills Training and Development Target Trainees
Methods
(a) Knowledge Deliberation/Lecture Managerial Managerial
(b) Multi-skills Vestibule training Operative
(c) Decision-making skills Management game Managerial
(d) Behavioural skills Sensitivity training Supervisory

Codes:
(1) (a), (b) and (c)
(2) (a), (c) and (d)
(3) (b), (c) and (d)
(4) (a), (b) and (d)

64. Which among the following are not part of staffing process?
(a) Human Resource Planning
(b) Recruitment
(c) Selection
(d) Induction and Orientation

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(e) Training and Development
(f) Performance Appraisal
(g) Transfers
(h) Separations
Codes:
(1) (e), (f), (g) and (h)
(2) (g) and (h)
(3) (f) and (h)
(4) None of the above

65. Match the items of List I with List - II:

List - I List - II
(a) INTUC (i) 1920
(b) AITUC (ii) 1947
(c) CITU (iii) 1955
(d) BMS (iv) 1970
Codes:
(a) (b) (c) (d)
(1) (i) (ii) (iii) (iv)
(2) (ii) (i) (iv) (iii)
(3) (ii) (i) (iii) (iv)
(4) (iii) (i) (iv) (ii)

66. Assertion (A): Amended Patent Act, in compliance with WTO, provides for grant of
product patent as well as a process patent for a period of 20 years from the date of
application.
Reasoning (R): Under the Act, patent may be granted to an invention which means a new
product or process involving an inventive step and capable of industrial application, a
technical advance over existing knowledge.
(1) Both (A) and (R) are true but (R), is not correct explanation to (A).
(2) (A) is false but (R) is correct.
(3) Both (A) and (R) are true and (R), is correct explanation to (A).
(4) (A) is correct but (R) is false.

67. Which of the following have been recognised under the intellectual property eligible for
creation of rights as per WTO mandate ?
(a) Computer software, music disc, performing art
(b) Geographical indicator
(c) Global positioning system
(d) Journals, books, seeds, design, brand
Codes:
(1) (a), (b) and (c)
(3) (a), (b) and (d)
(2) (d), (c) and (a)
(4) (c), (a) and (b)

68. NAFTA came into force from January, 1994 embracing:

(1) The USA, Canada, Cuba, Trinidad and Tobago

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(2) The USA, Canada, Mexico
(3) Cuba, Mexico, USA, Havana
(4) Trinidad, The USA, Mexico

69. A common market is one where:

(1) all the trading nations agree commonly to levy a common and uniform tariff rate for all
goods.
(2) all the trading nations agree commonly to rationalise tariff and non-tariff barriers
mutually to promote intra-region trade.
(3) there is a customs union along with free intra - union movement of factors of
production.
(4) there is an economic union along with free intra-union movement of residents.

70. The Maastricht Treaty of February, 1992 renamed the European Community (EC) as:
(1) the European Union (EU)
(2) the European Economic Union (EEU)
(3) the European Monetary Union (EMU)
(4) the European Economic Community (EEC)

71. In which of the following cases, Assessing officer has the discretion to assess the
income of the previous year in the previous year or in the subsequent assessment year ?
(1) Shipping business of non-residents
(2) Association of Persons (AOP) or Body of Individuals (BOI) formed for a particular event
or purpose
(3) Assessment of persons likely to transfer property to avoid tax
(4) Discontinued business

72. Rental income received by a foreign individual, from another foreign individual, in
respect of the property situated in Delhi is taxable in the hands of:
(1) Resident and Ordinarily Resident (OR) only
(2) Ordinarily Resident (OR) and Not Ordinarily Resident (NOR) only
(3) Non Resident (NR) only
(4) Ordinarily Resident (OR), Not Ordinarily Resident (NOR) and Non Resident (NR)

73. Which of the following income is not chargeable under the head 'income from business
and profession'?
(1) Profits and Gains carried on by an assessee during the previous year.
(2) Income derived by a trade professional or similar association from specific services
performed for its members.
(3) Income from the activity of owning or owning and maintaining race horses.
(4) Salary received by a partner of a firm from the same firm.

74. Mr. A earned a capital gain of 100 lakhs on 31-2-2014 from the sale of a long term
capital asset (land) within the limits of Jaipur corporation. If he invests 60 lakhs, out of
*100 lakhs, in Rural Electricity Corporation Bonds approved under Sec. 54 EC in 20-2-
2014, what is the amount of exemption he can claim under Sec. 54 EC of Income Tax Act
for the AY 2014-15?
(1) 60 lakhs

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(2) 50 lakhs
(3) 100 lakhs
(4) 30 lakhs

75. Under which of the following situations, the Appellate Tribunal can rectify the mistake
in the order passed by it under Sec 254 (2) of Income Tax Act?
(a) If subsequent decision of the Supreme Court/High Court is available on the subject
after the Appellate Tribunal's order
(b) If an assessee apply for rectification of the Tribunal's order by raising fresh grounds
before the Tribunal
(c) If the omission or mistake is on the part of Appellate Tribunal
(d) If the order is passed by the Appellate Tribunal under an erroneous impression of fact
or law
Codes:
(1) (a), (b) and (c)
(2) (b), (c) and (d)
(3) (a), (c) and (d)
(4) only (c) and (d)

ANSWERS
1 1 16 3 31 2 46 3 61 3
2 4 17 2 32 3 47 1 62 1
3 2 18 2 33 3 48 1 63 2
4 3 19 4 34 1 49 3 64 4
5 1 20 1 35 2 50 1 65 2
6 3 21 4 36 2 51 2 66 3
7 3 22 1 37 3 52 4 67 3
8 3 23 1 38 4 53 2 68 2
9 3 24 4 39 3 54 3 69 3
10 4 25 3 40 1 55 2 70 1
11 3 26 4 41 1 56 4 71 4
12 2 27 3 42 2 57 1 72 4
13 3 28 1 43 3 58 * 73 3
14 4 29 4 44 4 59 3 74 2
15 1 30 2 45 4 60 2 75 3

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