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UGC NET COMMERCE 2023 SHIFT-1 13-6-2023

1. In totalitarianism, called authoritarianism, individual freedom is subordinated to the
power of the authority of a group or state. Which of the following is not a type of
totalitarianism?
A. Theocratic
B. Right Wing
C. Tribal
D. Conservative

2. The Directorate General of Foreign Trade (DGFT) facilitates and promotes foreign trade in
India and also implements the foreign trade policy of India. Which of the following union
ministry governs the DGFT?
(a) Ministry of Commerce and Industry
(b) Ministry of Science and Technology
(c) Ministry of Finance
(d) Ministry of External Affairs

3. In which of the following balance of payment accounts changes in holdings of gold and
foreign currencies by official monetary institutions are accounted for.
(a) Current Account
(b) Capital Account
(c) Official Reserves Account
(d) Foreign Exchange Account

4. Regional Economic Integration is an attempt to achieve economic gains from the free flow
of trade and investment hetween countries. One such association is NAFTA. NAFTA
comprises of the following countries:
(a) USA, Canada. Mexico
(b) USA, Canada, Brazil
(c) USA, Mexico, Brazil
(d) Comada, Mexico, Panama

5. Who was of the opinion thuat labour was "the father of wealth" and it must be included in
any estimate of national wealth?
(a) William Far
(b) Willian Petty
(c) William C. Pyle
(d) Flamholtz

6. A and B are equal partners, when partnership is dissolved, their capital are Rs. 40,000
and Rs. 50,000 respectively. After all assets are sold and liabilities pasd. there is a cash
balance of Rs. 80,000 What is the amount of profit or loss on realization?
(a) 10,000 (Profit)
(b) 20,000 (Profit)
(c) 30,000 (Profit)
(d) 10.000 (Loss)

7. From the following information you are required to compute Return on Total Capital
employed.
Net Profit Rs. 100.000
Provision for tax Rs. 100.000

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Income from Investment Rs. 10,000
Fixed Assets Rs. 450.000
Current assets Rs. 1.50,000
Interest on debenture Rs. 10,000
Reserves Rs. 100,000
(a) 30%
(b) 50%
(c) 60%
(d) 40%

8. Which of the following is not the limitation of activity based costing?

(a) It involves various support activities in the process of making products.
(b) It does not provide relevant information for decision making.
(c) All costs cannot be identified easily with a particular activity
(d) Set up cost as well as costs of running and updating the ABC system are very high.

9. Substitution effect is usually larger than the income effect in real world because_____
(a) Consumes usually spends only a small proportion of income on any one community
(b) Consumer often consumes a small number of commodities
(c) Consumer only spends small portion of income or consumption
(d) Consumers income is relatively smaller in relation to the consumption.

10. The practice of setting a price target by the firm and then developing a product that would
allow the firm to maximize total profits at that price is called_____
(a) Prestige pricing
(b) Price lining
(c) Price matching
(d) Value pricing

11. Empirical studies indicate that long run average cost (LAC) curve is_____
(a) L-shaped
(b) U-shaped
(c) S-shaped
(d) V-shaped

12. Which of the following form of market organization is the most prevalent in the
manufacturing sector?
(a) Perfect competition
(b) Monopolistic competition
(c) Oligopoly
(d) Duopoly

13. Which of the following describe an intervention currency:

(a) The currency in which exporter choose to invoice their exports
(b) The currency in which cross-border transactions are paid for and closed
(c) The currency in terms of which a domestic currency is quoted
(d) The vehicle currency

14. From the followings which is an uncommon feature of Private Equity and Venture Capital.
(a) Both invest in companies that are not able to or ready to gain capital from the public
(b) Their investment is used for financial or operating restructuring of the invester
companies
(c) They are set up an independent pools of capital contributed by institutions or the high
net worth individuals
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(d) Their activities are subject to few regulations

15. The total return for an equity stock during a year was 12.5 per cent. The rate of inflation
during that year was 3.5 per cent. The real (inflation-adjusted) return was:
(a) 9.26 per cent
(b) 16.00 per cent
(c) 7.65 per cent
(d) 8.70 per cent

16. The optimal capital budget of a firm is reflected by intersection point of

(a) Security market line and capital market line
(b) Weighted average cost of capital curve and marginal cost of capital curve
(c) Investment opportunity curve and marginal cost of capital curve
(d) Weighted average cost of capital curve and investment opportunity curve.

17. In case of two variables, the estimated regression equation is hat y = 60 + 5x . The total
sum of squares is 15730 and sum of square due to error is 1530. The estimated
regression line based on this information is a______
(a) Poorest fit
(b) Moderate fit
(c) Good fit
(d) Best fit

18. Experimental treatment in research design signifies which of the following?

(a) Selection of dependent variable
(b) Manipulating independent variable
(c) Selection of independent variable
(d) Manipulating dependent variable

19. A point estimator is said to be consistent when

(a) It has smaller standard error
2 . Its expected value is equal to the population parameter
(c) It tend to become closer to the population parameter as the sample size become larger
(d) It is based on all available information

20. A population has a mean of 200 and a standard deviation of 50. Suppose a simple
random sample of size 100 is selected then the probability that the sample mean will bc
plus/minus 5 of the population mean is
(a) 0.7523
(b) 0.6928
(c) 0.9544
(d) 0.6826

21. In the process of perception, which one of the following is not an external factor
influencing selection of stimuli?
(a) Experience
(b) Familiarity
(c) Repetition
(d) Novelty

22. Which one of the following values is not a part of OCTAPACE framework?
(a) Openness
(b) Extension
(c) Proactivity
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(d) Autonomy

23. which one of the following is the hiring related turnover cost when an employee quits an
organization?
(a) Advertising
(b) Interviewing
(c) Training
(d) Recruiter fees

24. Which one of the following normative ethical theories has "Net benefit from the decision"
as consideration in ethical decision making?
(a) Ethics of duty
(b) Theory of justice
(c) Stock holder ethics
(d) Utilitarianism

25. Which committee had recommended a comprehensive framework of reform in the

insurance sector?
(a) Ghosh Committee (1993)
(b) Sodhani Committee (1994)
(c) Malhotra Committee (1993)
(d) Kalia Committee (1994)

26. Mutual Funds in India are regulated by:

(a) Unit Trust of India.
(b) Department for Promotion of Industries and Internal trade
(c) The Securities and Exchange Board of India
(d) Department of financial Services

27. Which one of the following is a fully owned subsidiary of the R.B.I?
(a) Indian Institute of Bank Management (IBM)
(b) National Institute of Bank Management (NIBM)
(c) Indian Institute of Banking and Finance (IIBF)
(d) Indian Financial Technology and Allied Services (IFTAS)

28. Which one group of the following countries are members of ASEAN?
(a) Laos. Cambodia, Brunei
(b) Malaysia, Thailand, Taiwan
(c) Myanmar, Singapore, Hong Kong
(d) Fiji. Laos, Cambodia

29. Which one of the advertising planning strategies is suitable for cars and appliances?
(a) Informative strategy
(b) Affective strategy
(c) Habitual strategy
(d) Satisfaction strategy

30. In which of the following segmentation criteria, the predictability of consumer choice
behaviour is the highest?
(a) Psychological
(b) Demographic
(c) Behavioural
(d) Geodemographic
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31. The sales step in which a salesperson learns as much as possible about a prospective
customer before making a sales call is known as
(a) Approach
(b) Prospecting
(c) Pre-approach
(d) Presentation

32. An attacking strategy which involves introducing new products or technologies. that
rewrite the rules of competition in the market and avoid direct conflict with a rival is
known as
(a) Flanking
(b) Bypass
(c) Encirclement
(d) Guerrilla

33. A' sells a mobile phone to 'B' , a minor who pays for it by his cheque. 'A' endorses the
cheque to 'C' who takes it in good faith and for value. The cheque is dishonoured on
presentation. Can 'C' enforce payment of the cheque?
(a) C' can enforce the payment of cheque only against 'A'
(b) C' can enforce the payment of cheque either against 'A' or 'B'
(c) C' can enforce payment of cheque both against 'A' and 'B'
(d) C' can enforce the payment of cheque only against 'B'

34. The doctrine of 'Caveat emptor' applies in which of the following situations?
(a) When goods are sold by description
(b) When goods are sold by sample
(c) When goods are sold under implied conditions and warranties
(d) When the buyer does not intimate the purpose to the seller and depends upon his own
skill and judgement.

35. A letter of acceptance sufficiently stamped and duly addressed is put into course of
transmission. There is a
(a) Contract voidable at the option of acceptor
(b) Contract voidable at the option of offeror
(c) No contract at all
(d) Valid contract

36. On attaining the age of majority, a minor's agreement

(a) Can be ratified by him
(b) Cannot be ratified by him
(c) becomes void
(d) becomes valid

37. X was appointed on 1st July 2022 as a lecturer in an University. He was continued on
30th April 202(c) What would be the duration of the previous year for the assessment year
2023-24 for computation of income under the head Salary?
(a) 1 July 2022 to 30 April 2023
(b) 1 April 2022 to 31 Match 2023
(c) 1 April 2022 to 30 April 2023
(d) 1 July 2022 to 31 March 2023

38. When the income of a minor child is clubbed with the income of mother or father. how
much the deduction will be allowed to mother or father?
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(a) Rs. 1500
(b) Rs. 2000
(c) Actual income clubbed with the income of mother or father, whichever is less
(d) No deduction

39. A multinational company can use which prices to create profits in low tax regimes and
loss in high tax regimes?
(a) Divisional prices
(b) Inter-Divisional Prices
(c) Holding company prices
(d) Transfer prices

40. "It is an art of dodging tax without actually breaking the law". This is related with:
(a) Tax Management
(b) Tax Avoidance
(c) Tax Planning
(d) Tax Evasion

41. Which of the following one considered as supply factors affecting the flow of Foreign Direct
Investment (FDI):
A. Customer Access
B. Economic Priorities
C. Resource Availability
D. Avoidance of Trade Barrier
E. Logistics
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and D only
(c) C and E only
(d) A and E only

42. For customers, which are the areas of ethical and social responsibility concerns?
A. Product safety
B. Fair Price
C. Fair Wages
D. TQM
E. Proper disclosures and information
Choose the correct answer from the options given below:
(a) C and D only
(b) C. D and E only
(c) A and E only
(d) A. B and E only

43. Section 61 to 64 of the company act 2013 states 'Alteration proper which includes:
A. Cancellation of the unissued shares
B. Cancellation of issued shares
C. Increase in share capital by issue of new share
D. Decrease of share capital by redemption of shares.
E. Conversion of fully paid shares into stock and vice versa.
Choose the most appropriate answer from the options given below:
(a) B.C and D only
(b) A, C and E only
(c) C. D and E only
(d) A, B and C only
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44. From the operational point of view, which are the part of Environmental Audit
A. Environment Management System Audit
B. Social Audit
C. Compliance Audit
D. Site Property Audit
E. Energy Audit
Choose the correct answer from the options given below:
(a) C. D and E only
(b) A. C and D only
(c) B, C and D only
(d) A. D and E only

45. Which of the following cause demand of a product to increase?

A. an increase in constuner's income.
B. an increase in the prices of substitutes
C. an increase in the price of complements
D. an increase in the number of substitutes
E an increased taste for the commodity.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C. D and E only
(c) B, D and E only
(d) A. B and E only

46. According to the theory of contestable markets, vigorous competition can take place even
among few sellers if
A. Product is differentiated
B. Demand is infinitely elastic
C. Entry into the market is absolutely free
D. There are strong entry-exit barriers
E. Exit from the market is entirely costless.
Choose the correct answer from the options given below:
(a) A and D only
(b) B and E only
(c) A and C only
(d) C and E only

47. Under which of the following market structures, products are differentiated and close
substitutes?
A. Perfect competition
B. Monopolistic competition
C. Oligopoly
D. Duopoly
E. Monopoly
Choose the correct answer from the options given below:
(a) A. B and C only
(b) B. C and D only
(c) C. D and E only
(d) A. C and D only

48. Which of the following are the characteristics of the Euro Currency market?
A. the euro currency market does not have geographical limits
B. the euro currency market is unregulated
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C. the euro currency market does not have deposit insurance
D. there are no restriction on the maximun interest payable or chargeable.
E. The euro currency market does not attract CRR and SLR restrictions.
Choose the most appropriate answer from the options given below:
(a) A. B and C only
(b) B. E and D only
(c) E, C and A only
(d) D. A and E only

49. The assumptions of Purchasing Power Parity Theory includes:

A. No costs for converting one currency to another
B. No restrictions on the movement of capital between countries
C. No restrictions on the movement of commodities between countries.
D. No transaction costs for buying and selling financial security
E. No transportation costs for transporting a commodity from one country to another.
Choose the most appropriate auswer from the options given below:
(a) A. B and C only
(b) B. D and C only
(c) E. A and C only
(d) D. A and E only

50. A box-plot is a graphical summary measures of data that displays_____

A. Mean
B. Q1
C. Median
D. Q3
E. Mode
Choose the correct answer from the options given below:
(a) C and E only
(b) A. C and E only
(c) C. D and B only
(d) D. B and A only

51. In case of presence of outliers in a data set, which of the following can better measure the
central tendency?
A. Mode
B. Trimmed Mean
C. Arithmetic Mean
D. Median
E. Harmonic Mean
Choose the correct answer from the options given below:
(a) A and B only
(b) B and C only
(c) C and E only
(d) Band D only

52. To remove 'order bias' in a questionnaire, usually researcher use which of the following:
A. Pivot questions
B. Multiple grid questions
C. Funnel technique
D. Filter questions
E. Leading questions
Choose the most appropriate answer from the options given below:
(a) B. E and A only
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(b) D. E and B only
(c) E, B and C only
(d) C, D and A only

53. Which of the following are skills and capabilities related competencies?
A. Analysis
B. Intellectual curiosity
C. Organization
D. Problem solving
E. Ownership of assignments
Choose the most appropriate answer from the options given below:
(a) A. C and D only
(b) A, B and C only
(c) B, C and D only
(d) A, D and E only

54. Which of the following are the disadvantages of straight salary sales compensation plan?
A. Sales volume is emphasized over profits
B. Sales representative may overstock the customer
C. Low motivational impact
D. Difficult to attract or retain top sales performers
E. Sales representatives may focus on products that require least effort to sell
Choose the most appropriate answer from the options given below:
(a) C, D and E only
(b) A, B and C only
(c) B. D and E only
(d) A, C and D only

55. Which of the interventions can be used to manage the anxiety created by mergers and
acquisitions
A. Speed-up of the integration process
B. Articulate a new vision, common goals and organizational symbols
C. Employee counselling and stress management training
D. Disengage efforts such as termination ceremonies
E. Social support from spouse, friends, supervisors and coworkers
Choose the most appropriate answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A, C and E only
(d) A, B and E only

56. Which is the legal framework governing the Regional Rural Banks (RRBs)
A. Regional Rural Banks Act, 1976
B. Regional Rural Banks Act. 1966
C. Small Industries Development Bank of India, 1989
D. Banking Regulations Act, 1949
E. Indian Partnership Act. 1932
Choose the correct answer from the options given below:
(a) A and D only
(b) B and D only
(c) A and C only
(d) B and E only

57. Which are the RBI notified domestic accredited credit rating agencies?
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A. Brickwork ratings
B. Acvite ratings
C. CRISIL ratings
D. Standard and Poor's
E. Moody's
Choose the correct answer from the options given below:
(a) B and C only
(b) C and D only
(c) A and C only
(d) C and Eonly

58. In the context of banking sector, spread is defined as a function of the following:
A. Forex
B. Net Interest income
C. Rate Sensitive Assets
D. Asset Ratio
E. Leverage Ratio
Choose the correct answer from the options given below:
(a) C and Eonly
(b) A and C only
(c) B and D only
(d) B and E only

59. Which of the following are the reasons for manufacturers and retailers to brand their
offerings?
A. Helps to gauge the level of product quality
B. Enables premium pricing
C. Contributes to corporate identity programmes
D. Informs about the source of a product
E. Develops customer loyalty.
Choose the most appropriate answer from the options given below:
(a) A, B, C and E only
(b) B, C and E only
(c) A, B, C and D only
(d) A, D and E only

60. Which of the following are the tools for consumer promotions?
A. Price off
B. Refunds
C. Coupons
D. Event sponsorship
E. Off-invoice
Choose the correct answer from the options given below:
(a) A. B and C only
(b) B. C. D and E
(c) A. D and E only
(d) B, C and D only

61. An agent is personally liable to third parties in which of the following situations?
A. If an agent acts for an undisclosed Principal
B. Trade usage and customs makes agent personally liable
C. If an agent signs a contract in Principal's name
D. If an agent acts for the named Principal
E. If an agent works for a foreign Principal.
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Choose the correct answer from the options given below:
(a) A, B and C only
(b) A. B and E only
(c) C, D and E only
(d) B. C and D only

62. If the application for information is rejected under the Right to Information Act | 2005,
the CPIO / SPIO is obligated which of the following to furnish the person seeking the
information?
A. Power and functions of information commission
B. Reasons for such rejection
C. Obligation of public authorities
D. The particulars of the appellant authority
E. The period within which an appeal against such rejection may be preferred
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A. C and E only
(d) B. D and E only

63. The Competition (Amendment) Act, 2023 revamped the competition Act in which of the
following perspectives:
A. The CCI needs to be intimated if the value of merger and acquisition deal exceeds Rs.
2000 crores
B. The overall timeline for assessment of combination has been reduced to 150 days from
210 days
C. "Exclusive selling agreements" has been replaced with "exclusive dealing
agreement"
D. Entities who are not engaged in identical or similar trade shall also be part of an Anti-
competitive Agreement under Section 3 (3) of the Act
E. Anti-competitive conduct like "tie-up arrangements" "re-sale price
maintenance" and " exclusive distribution agreement" have been redefined.
Choose the correct answer from the options given below:
(a) A. B and C only
(b) C and Eonly
(c) A, B, C and D only
(d) A, B, C, D and E

64. Which are the appropriate tax planning perspectives in case of shut down or continue
decision under Income Tax Act. 1961?
A. Business loss and unabsorbed depreciation can be carry forward and set off against
profit and gain.
B. The loss making company and profit making company may merge to avail the tax
benefit
C. Tax benefit of deduction u/s 33 AB and 115 VT may be withdrawn and liable to tax for
the year in which business is discontinued.
D. The condition of section 80 IB / 80 IC of the Act, a deduction is allowed to such
undertaking
E. If a person has more than one business, the loss making business may not be
discontinued.
Choose the most appropriate answer from the options given below:
Objective Question 115 908115
(a) A, Cand D only
(b) B. D and E only
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(c) C, D and E only
(d) A. C and E only

65. Which of the following are correct for Agricultural Income?

A. Income from self grown grass, trees, bamboo
B. Rent and Rates derived from land
C. Income from making the produce fit for marketing
D. Income from land used for storing agriculture produce E. Income from farmhouse
Choose the correct answer from the options given below:
(a) B, C and E only
(b) B, D and E only
(c) A. C and D only
(d) C, D and E only

66. Match List I with List II

LIST I (A.T. Kearney Globalization Index) LIST II (Variables)
A. Economic Integration I. International Tourism and Travel
B. Personal Integration II. Internet users
C. Technological Integration III. Foreign Direct Investment
D. Political Integration IV. Ratification and multilateral treaties
Choose the correct answer from the options given below:
(a) A-IV. B-III, C-II, D-I
(b) A-III. B-I, C-II, D-IV
(c) A-III. B-II. C-I. D-IV
(d) A-IV, B-I, C-II. D-III

67. Match List I with List II

LIST I (Accounting Concepts ) LIST II (Purpose / Applicability)
A. Going Concern Concept I. The same accounting method used by a
firm from one period to another
B. Consistency II. Relate to the relative size or importance
of an item or event
C. Cost concept III. An inappropriate assumption for firm
undergoing bankruptcy
D. Materiality IV. The normal basis used to account for
assets
Choose the correct answer from the options given below:
(a) A-II, B-III. C-IV. D-I
(b) A-I. B-II C-III. D-IV
(c) A-I, B-II. C-IV. D-III
(d) A-III. B-I. C-IV. D-II

68. Match List I with List II

LIST I (Herfindahe Index Value) LIST II (Market Type )
A. Zero I. Oligopoly with high risk of cartels
B. 0-1,000 II. Oligopoly
C. 1,000 1,800 III. Monopolistic competition
D. 1,800 10,000 IV. Extremely competitive market
Choose the correct answer from the options given below:
(a) A-I. B-II C-III. D-IV
(b) A-IV. B-III. C-II. D-I
(c) A-II. B-I C-III. D-IV
(d) A-I, B-III, C-II. D-IV

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69. Match List I with List II

LIST-I (Technique) LIST II (Feature)
A. Pooling I. Setting up production facilities in a number of countries
B. Financial hedge II. Reduction of Foreign exchange risk through leading and
lagging
C. Natural hedge III. Simultaneous borrowing and lending in two different
currencies
D. Netting IV. Holding and managing of cash by the affiliates
Choose the correct answer from the options given below:
(a) A-I. B-IV. C-II, D-III
(b) A-IV. B-III, C-I, D-II
(c) A-IV. B-II, C-III. D-I
(d) A-I, B-II. C-III. D-IV

70. Match List I with List II

LIST I (Non-parametric test (Counterpart of LIST II (Parametric test)
parameter test)
A. Friedman Test I. One-way ANOVA
B. Mann-Whitney U Test II. t-test
C. Kriskal Wallis Test III. Paired t-test
D. Wilcoxon signed Rank Test IV. two-way ANOVA
Choose the correct answer from the options given below:
(a) A-I. B-III. C-IV. D-II
(b) A- IV. B-II. C-I. D-III
(c) A-III, B-I, C-II. D-IV
(d) A-II, B-IV, C-III. D-I

71. Match List I with List II

LIST I (Motive of human behaviour in LIST II ( Characteristic )
organizations)
A. Achievement I. Concern for others
B. Control II. Concern for self-development
C. Extension III. Concern for excellence
D. Dependency IV. Concern for orderliness
Choose the correct answer from the options given below:
(a) A-III. B-IV. C-II. D-I
(b) A-IV, B-III, C-II. D-I
(c) A-II. B-IV. C-I. D-III
(d) A-III, B-IV. C-I. D-II

72. Match List I with List II

LIST I (Consequent outcome) LIST II (Taxation Perspective)
A. The person is liable to penalty and prosecution I. Tax Management
B. Tax is reduced by taking advantage of loopholes II. Tax Avoidance
of the law
C. Main aim is compliance with legal formalities III. Tax Evasion
D. It is a guide in decision making IV Tax planning
Choose the correct answer from the options given below:
(a) A-II, B-III, C-IV, D-I
(b) A-II. B-IV. C-III. D-I
(c) A-III. B-II. C-I. D-IV
(d) A-III. B-I. C - IV. D-II

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73. Match List I with List II

LIST I (Purpose) LIST II ( Committee)
A. Study all aspects of Electronic Fund Transfer I. Rashid Jilani Committee(1992)
(EFT)
B. Working group on NBFCs II. Soduani Committee (1994)
C. Suggest alternate methods of Lending III. Malegam Committee (1995)
D. Expert group on Foreign exchange markets IV. Shere Committee (1995)
Choose the correct answer from the options given below:
(a) A-III. B-I. C-II. D-IV
(b) A-II, B-I, C-III. D-IV
(c) A-I. B-III. C-II. D-IV
(d) A - IV. B-III. C-I. D-II

74. Match List I with List II

LIST I (Retail Store Format) LIST II (Product assortment )
A. Discount I. Very narrow and deep
B. Specialty II. Broad and shallow
C. Category Killer III. Broad and deep
D. Supermarket IV. Narrow and very deep
Choose the correct answer from the options given below:
(a) A-II. B-I. C-III. D-IV
(b) A-I. B-II. C-III. D-IV
(c) A- IV. B-II, C-III. D-I
(d) A-II, B-I C-IV. D-III

75. Match List I with List II

LISTI (Schedules under the companies Act, 2013 ) LIST II (Underlying themes)
A. Schedule I I. Computation of Depreciation
B. Schedule II II. Code for Independent directors
C. Schedule III III. Memorandum of Association
D. Schedule IV IV. Preparation of Balance sheet and statement of profit and loss
Choose the correct answer from the options given below:
(a) A-II. B-I. C IV. D-III
(b) A-III. B-I, C-IV. D-II
(c) A-III. B-IV. C-I. D-II
(d) A-I. B-III, C-II. D-IV

76. The steps to be followed by a firm while strategizing to go international are as follows:
A. Deciding when to enter
B. Deciding which markets to enter
C. Deciding whether to go global
D. Choosing a mode of entry
E. Deciding how to enter the chosen market.
Choose the correct answer from the options given below:
(a) E. D. C. B. A
(b) C.A. E. D. B
(c) C. B, A, E, D
(d) A. B. C. E. D

77. Arrange the steps of process costing from beginning and ending with the work in process
inventory
A. Summarize total costs to account for work-in-process inventory

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B. Compute output in terms of equivalent unit
C. Compute cost per equivalent unit
D. Summarize the flow of physical units (of output)
E. Assign total cost to units completed and to units in ending work in process.
Choose the correct answer from the options given below:
(a) D. B, A, C, E
(b) B. C. D. A, E
(c) C. B, A. D. E
(d) E, D, A, B, C

78. Arrange the following goods and services in the increasing order of the underlying income
elasticity of demand.
A. Normal consumption goods
B. Necessities
C. Luxuries
D. Inferior goods
E. Services
Choose the correct answer from the options given below:
(a) D. B. A. E. C
(b) D. C. B. A. E
(c) C. E. B, A. D
(d) B. A. D, C, E

79. Sequence the following steps in the operational functioning of the Asset reconstruction
companies (as per SARFAESI Act 2002)
A. Charge a 2 percent management fee
B. Issue security receipts to bank
C. Make payment to bank
D. Buys loans of bank at a discount
E. Carry out the recovery
Choose the correct answer from the options given below:
(a) D. C. A. E. B
(b) D. B. E. A. C
(c) D. B, C, E, A
(d) D. A, B, E, C
80. The problem-definition process involves following steps. Arrange them in a logical
sequence.
A. Determine the unit of analysis
B. Determine the relevant variables
C. Write managerial decision statement and research objectives
D. Write research question and/or research hypothesis
E. Identify key problems
Choose the correct answer from the options given below:
(a) A. B. E. D. C
(b) C. D. A. B. E
(c) B, E, A, C, D
(d) E. C. A. B. D

81. As suggested by Collins, arrange the following leadership levels in the sequentially higher
order.
A. The leader is a competent manager
B. The leader is an executive
C. The leader is a highly capable individual
D. The leader is an effective leader
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E. The leader is a contributing team member.
Choose the correct answer from the options given below:
(a) B. C. D. A. E
(b) C. E. A. D. B
(c) C. A, E, D, B
(d) C. E. A. B. D

82. Starting from the earliest, sequence the steps taken to develop the money market in India
A. Introduction of Interest Rate Swaps (IRSs )
B. Introduction of Commercial Paper
C. Introduction of Ways and Means Advances (WMA) linked to bank rate
D. Introduction of Liquidity Adjustment Facility (LAF)
E. Implementation of Real Time Gross Settlement (RTGS)
Choose the correct answer from the options given below:
(a) C. B. D. A. E
(b) D. C. B. E. A
(c) B, D, C, A. E
(d) B. C. D. A. E

83. Arrange the following service gaps as per SERVQUAL approach in the logical sequence.
A. The gap between service quality specifications and service delivery
B. The gap between the customer's expectations end management perception
C. The gap between perceived service and expected service
D. The gap between management perception and service quality specification
E. The gap between service delivery and external communications.
Choose the correct answer from the options given below:
(a) D. A, B. E, C
(b) B. D. A. E. C
(c) A, C, B. D. E
(d) C. A. B. E. D

84. Arrange the following steps in a logical sequence in recourse to dishonouring a negotiable
instrument:
A. Noting
B. Compensation
C. Protesting
D. Notice of dishonour
E. Penalties
Choose the correct answer from the options given below:
(a) D. A. C. B. E
(b) C. D. A. B. E
(c) C. D. E. B. A
(d) A. C. D. B. E

85. Arrange the following advance payment of tax in ascending order (Section 207 to section
211) of the Income Tax Act, 1961.
A. Instalment of advance tax and due date
B. Liability for payment of Advance Tax
C. Payment of advance tax by the assessee on own record
D. Condition of liability to pay advance tax
E. Computation of advance tax
Choose the correct answer from the options given below:
(a) A, B, C, D, E
(b) B. D. E. C. A
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(c) B, D, E, A, C
(d) C, D, E, A, B

86. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R -
Assertion A: By removing barriers between national markets, trading blocks create
competition due to bigger trading area.
Reason R: Increased competition can lead to the closure of local industry and harm
domestic consumption.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is not the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

87. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A: When a partner retires, all the assets and liabilities are revalued according to
current value.
Reason R: The balance sheet should show the correct values of assets and liabilities.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is not the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

88. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Usually manufacturing companies use sale and lease back arrangement to
unlock investment in fixed assets.
Reason R: In a sale of lease back arrangement, the companies sell the asset to a leasing
company, and lease it back to enjoy the uninterrupted use of asset in their business.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is not false
(d) A is false but R is true

89. Given below are two statements:

Statement I: The only purpose of logistics management is to coordinate activities of
moving products from the factory to customers.
Statement II: Logistics management is only the responsibility of marketing function.
In the light of the above statements choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct.

90. Given below are two statements:

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Statement I: Certificate of incorporation is conclusive evidence that all the requirements of
the Companies Act have been complied with in respect of registration.
Statement II: After incorporation, if the company makes a fresh contract in terms of the
pre-incorporation contract, the liability of the promoters shall come to an end.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

Interoperability guidelines for prepaid payment instruments with United Payments

Interface (UPI) bolster the business case for digital wallets. For a loading fee on
transactions through UPI, payments banks, for instance, can widen the adoption of
wallets among customers and merchants. This increase use cases for UPI, which largely
works on a model of free peer- to- peer- merchant transactions. The opportunity provided
by the scorching growth of UPI transactions must, however, cross the hurdle of consumer
behaviour that is shaped by zero fees for payments made from their bank accounts. For
survival, payments banks - which can accept deposits but are prohibited from lending
need to be part of the UPI ecosystem. They also need to carve out a distinct business
segment where they have an advantage over full-service banks.
Those use cases are expected to grow as UPI diversifies into cross- border remittances,
introduces consumer lending through RuPay credit cards and offers currency exchange to
foreign travelers, and bill payments using standing instructions gain traction. UPI will
also have to integrate with the digital rupee that is undergoing tests for retail and
wholesale transactions. The digital payments platform will continue to play a key role in
the infrastructure that is being developed around contactless payments.

This involves building additional UPI context around digital transactions such as billing
and credit- profiling. Initial adoption has surpassed the most optimistic expectations. But
that is principally on account of the waiver of the merchant discount rate. In the next leg,
UPI will grow by providing solutions for the conduct of business. It will have to incorporate
lending at some point to become a comprehensive medium of commerce. The
infrastructure encourage fintechs to push innovation in finance. Payments banks have a
strong correlation with the growth of digital transactions. They are vital piece of the
machinery being built. The interoperability with UPI guidelines plugs them deeper.
must

91. As per the passage, why do the payment banks need to carve out a distinct business
segment for themselves?
(a) To be a part of the UPI ecosystem
(b) Because payment banks are in competition with full service banks
(c) Because payment banks are mandated to push innovation in finance
(d) In order to entitle themselves for lending

92. Given below are two statements:

Statement I: Initial UIP adoption has surpassed the most optimistic expectations on
account of the waiver of the merchant discount rate.
Statement II: The future growth of the UPI will be facilitated by providing solution for the
conduct of business and to becoming a medium of commerce.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement Iand Statement II are correct
(b) Both Statement I and Statement II are incorrect
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(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct.

93. Contactless payments infrastructure, as per the passage, will empower for:
(a) Interoperability with the UPI
(b) Innovation in finance
(c) Integration with the UPI ecosystem
(d) Integration with the full service banks

94. Which of the following use cases are expected to promotes the growth of payment basses?
A. UPI integration with the digital rupee
B. Dislocation of payment banks from digital transactions
C. UPI facilitation of cross-border remittances
D. Keeping a safe distance from the contactless payment infrastructure E. Consumer
lending through Rupay Credit Cards.
Choose the most appropriate answer from the operations given below:
(a) A, B and C only
(b) C. D and E only
(c) A, C and E only
(d) B, D and E only

95. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A: Payment banks - which can accept deposits but are prohibited from lending
need to be part of the UPI ecosystem.
Reason R: Loading fee on transactions through UPI, payment banks can widen the
adoption of wallets among customers and merchants.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is not false
(d) A is false but R is true

The proposed facility similar to the Applications Supported by Blocked Amount (ASBA) for
secondary markets has elements to protect investors while increasing their potential
earnings. The way it works now in the primary market is that money remains blocked in
investor accounts, earning interest till issues of Initial Public Offerings (IPO) accept
subscriptions. Replicating this for the secondary market is more complicated because of
the number of parties, as well as the kinds of transactions, involved. Investors place a
variety of orders over differing time horizons with or without leverage for multiple
securities in the secondary market. Incorporating all these variables for a mechanism like
ABSA involves escrow arrangements with counter parties in a dynamic environment.
The technical challenge may be considerable but not insurmountable. In this, the
Securities and Exchange Board of India (Sebi) is on the right course in its effort to provide
such a structure for investors. The Unified Payments Interface (UPI) allows money used
for trading to be transferred directly to clearing corporations, which can then settle with
brokers. This flushes out money idling with brokers, lowering risk of abuse and
containing the fallout in case of broker default. This also offers a pathway for direct
settlement, bypassing the pool accounts of intermediaries. Sebi has thus, acted on its
regulatory remit of protecting investors' cash as well as their securities.
Sebi has offered relief to brokerages that stand to lose float income on account of
upstreaming client money to clearing corporations. Brokerages have been allowed to
upstream clients' funds in the form of fixed deposit lien or mutual fund units. This should
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keep intermediation fees low while the market regulator nudges the system to clear excess
funds from the broker channel. Higher upfront brokerage fees are an improvement over
those subsidised by float income, bettering systemic oversight. This could lead to
concentration among brokerages discount players lose their advantage.

96. The money used for trading is allowed to be transferred directly to clearing corporation,
through
(a) Escrow Arrangement
(b) Unified Payments Interface
(c) E-banking
(d) credit cards

97. The Application Supported by Blocked Amount (ASBA) used in the passage refers to which
market.
(a) Primary Market
(b) Secondary Market
(c) Money Market
(d) Forex Market

98. The SEBI has acted on its regulatory remit of protecting investors cash and
(a) Securities
(b) Dividend Income
(c) Grievances of payment
(d) Public Deposits

99. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R -
Assertion A: SEBI has offered relief to brokerages that stand to lose float income on
account of upstreaming client money to clearing corporations.
Reason R: Brokerage have been allowed to upstream clients' fund in the form of fixed
deposit lien or mutual fund units.
In the light of the above statements, choose the correct answer from the options given
below
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

100. Which are reasons that make replication of ASBA for the secondary market complicated:
A. Kinds of transactions
B. Presence of large number of brokers
C. Applicability of SEBI guideline
D. Number of Parties
E. Differing time horizon
Choose the most appropriate answer from the options given below:
(a) C, D and E only
(b) A, B and C only
(c) A and D only
(d) B and C only

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

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UGC NET COMMERCE SHIFT-2 13-JUN-2023

1. Which of the following economic narratives relates the trade between any two countries to
the sign of their economics?
(a) Phillips Curve
(b) Fisher effect
(c) Gravity model
(d) Kuznets Curve

2. Brewing financial stress endangering economic stability in developed economics is the

immediate consequence of which of the followin
(a) Fiscal indispline
(b) Rising price level
(c) Over leverage
(d) Increased interest rates

3. Published by the UNDP, the HDI is summary measure of human development. It

measures the average achievements of a country in thre basic dimensions of human
development and include the following.
(a) Standard of living. Income and Occupation
(b) Education. Occupation and Health
(c) Health, Education and Standard of living
(d) Poverty, Health and Standard of living

4. A.T Kearney foreign Policy Globalization Index (2007) is a comprehensive framework to

measure globalisation. It is based in 12 variables, grouped into which the following four
baskets?
(a) Economic integration, Political integration. Knowledge Integration. Social Integration
(b) Personal Integration Technological integration. Economic integration, Political
integration
(c) Social integration, Political integration, Personal integration Technological Integration
(d) Knowledge integration, Economic integration. Political integration Technological
integration

5. Which one of the below mentioned transaction is not a non-cash transaction?

(a) The acquision of assets by assuming directly related liabilities
(b) Conversion of debt into equity
(c) Interest on dividend received from investing activities
(d) The acquisition of an enterprise by means of issue of share

6. In a situation where the holding and subsidiary companies own shares in each other is
known as-
(a) Partly owned subsidiary
(b) Cross holding
(c) Subsidiary company
(d) Wholly owned subsidiary

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7. P. R and M are Partners in a firm. They shared profit and losses in the ratio of 3:2:1 On
1st April. R retired. The goodwill of the firm wa valued at two years purchase based on the
average of last three years profits. The Profits of the last three year were as under:
2020-21 Profit Rs 2,48,000
2021-22 Loss Rs 36,000
2022-23 Profit Rs 1,48,000
It was decided that share of goodwill be adjusted in the capital Accounts of P and M. What
will be the amount of Goodwill of P and M?
(a) Rs 40,000, Rs 60,000
(b) Rs 30,000, Rs 50,000
(c) Rs 30,000, Rs 60,000
(d) Rs 40,000, Rs 70,000

8. According to which concept, the life of the business is divided into appropriate segments
for studying the results shown by the business each of the segment?
(a) Periodic Matching Cost and Revenue Concept
(b) Dual Aspect Concept
(c) Accounting Period Concept
(d) Money Measurement Concept

9. Which of the following notions objectivity define an industry?

(a) Homogeneity of products
(b) High cross price elasticity of demand
(c) Use and consumption pattern
(d) Convention and market practices

10. In order to protect domestic industries, trade restrictions are often been allowed and
justified to counteract which of the following | dumping practices?
(a) Persistant dumping
(b) Predatory dumping
(c) Sporading dumping
(d) Reverse dumping

11. Based on the relationship between marginal revenue product (MRP) and marginal
resource cost (MRC), when it pays for the firm to expand the use of variable factor input?
(a) MRP > MRC
(b) MRP < MRC
(c) MRP = MRC
(d) MRP = MRC=1

12. When technology allows many irms to operate efficiently in the markets, which market
structure represents a better use of society's resources?
(a) Perfect competition
(b) Monopoly
(c) Monopolistic Competition
(d) Oligopoly

13. A company's stock sells for ₹ 63 The company pays annual dividend of ₹3 per share and
has long established record of increasing its dividend by a context 5 % annually. For this
company, the cost of equity ( Ke) is
(a)13%
(b)14%

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(c) 10%
(d)8%

14. Which one of the following is an operational technique of hedging transaction exposure.
(a) Hedging through money market
(b) Hedging through forward
(c) Hedging through swap
(d) Hedging through leading & lagging

15. The adjusted present value model used by MNCs to evaluate capital budgeting decision is
based on
(a) Gresham's principle
(b) Value additivity approach
(c) Law of one price
(d) Multilateral Netting approach

16. The dividend-irrelevance theory of Miller and Modigliani depends on which one of the
following relationships between investment polic and dividend policy.
(a) Since dividend policy is irrelevant, there is no relationship between investment policy
and dividend policy
(b) The level of investment does not influence or matter to the dividend decision
(c) Once dividend policy is set, the investment decision are residuals
(d) The investment policy is set ahead of time and not altered by change in dividend policy

17. ___is a most useful type of non probability sampling method when individuals with the
desired characteristics experience or attitudes are difficult to identify or reach.
(a) Purposive Sampling
(b) Convenience Sampling
(c) Snowball Sampling
(d) Quota Sampling

18. Which of the following non-parametric test has no correrpanding parametric test?
(a) Sparman rank correlation test
(b) Kruskal Wallir test
(c) Mann-Whitney test
(d) Ward-Walfowitz one sample runs test

19. The coefficient of variation for a Poisson distribution with »(mean)=5 is

(a) 31.1 percent
(b) 44.7 percent
(c) 35.2 percent
(d) 58.9 percent

20. One factor Analysis of Variance (ANOVA)

(a) is a perfect generalization of the t-test for paired observations.
(b) requires that the number of observations in each group be identical
(c) has less power when the number observations in each group is not identical
(d) is extremally sensitive to slight departure from normality

21. Blake and Morten recognise four leadership styles. One of them is the autocratic task
management style. The autocratic task manager is oile who-

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(a) Concern themselves very little with either people or production and have minimum
involvement in their jobs.
(b) Display in their actions, the highest possible dedication both to people and to
production.
(c) are concerned only with developing an efficient operation who have little or no concern
for people
(d) have little or no concern for production but are concerned only for people

22. Frederic W. Taylor is acknowledged as the father of scientific management. What is his
major contribution to management.
(a) Theory of bureaucracy
(b) Identified characteristics of companies he considered excellent
(c) Application of psychology to industry and management
(d) How to raise productivity through greater efficiency in production and increased pay
for workers

23. Maslow's Hierarchy of Heeds depicts human needs in the form of hierarchy ascending
from the lowest to highest need. The correct orde is.
(a) Esteem needs. Acceptance needs. Safety needs. Physiological needs. Need for Self-
Actualisation
(b) Physiological Needs, Safety needs, Acceptance needs, Need for Self- Actualisation
(c) Safety needs, Esteem needs, Need for Self Actualisation, Physiological Needs,
Acceptance Needs
(d) Physiological needs, Acceptance needs, Safety needs, Need for Self- Actualisation,
Esteem Needs

24. Matrix structure is the realisation of two dimensional structure which emanates directly
from two dimensions of authority. From which c the two, a is martix structure is created?
(a) Functional and divisional
(b) Functional and project
(c) Functional and line
(d) Divisional and line

25. Which one of the following is concerned with Endowment Policy?

(a) The issuer has advantage of receiving money at regular intervals of the policy with a
specific sum of money at the expiry of the policy
(b) At the expiry of the policy, the insured receives the sum of insurance policy
(c) It covers the insured for the whole life. His nominee receives the assured sum with
bonus after the death of insured
(d) The premium cost is high. If the insurer dies, the nominee receives the insurance
amount

26. Which one of the following subsidiary is not owned by the Reserve Bank of India.
(a) National Housing Bank (NHB)
(b) Industrial Development Finance Corporation (IDFC)
(c) National Bank for Agriculture and Rural Development (NABARD)
(d) Deposit Insurance and Credit Guarantee Corporations of India (DICGC)

27. The coexistence and cooperation between the formal and informed financial sector is
commonly referred to as:
(a) Flexibility of operation
(b) Financial dualism

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(c) Well regulated financial system
(d) Catering the financial needs of modern economy

28. As the economy weakens, one would expect investment in

funds to increase and investment in
funds to decrease
Objective Question
(a) long term : short term
(b) equity : bond
(c) money market mutual equity
(d) municipal bonds: money market mutual funds

29. One of the key assumptions of the Boston Consulting Group Growth Share Martix is
(a) Cash flow can be equated with profitability.
(b) Market share has a positive effect on cash flow as profits are related to market share.
(c) Market share acts as a proxy to competitive strength.
(d) Market growth rate cannot be used as a proxy to market attractiveness.

30. Post-purchase consumers invariably experience cognitive dissonance which is referred to

as-
(a) A feeling of happiness with the purchase
(b) Getting angry with the firm
(c) A feeling of uncertainty about making the right decision
(d) A state of extreme satisfaction

31. The Model for Budget or "No frills" airlines was first developed in the USA by Southwest
Airlines in the 1970s. The premise of this budget airline was to get passangers to their
destination for less with an "adequate" level of service. This highly successful model has
since been copied by airlines all over the world. The competitive advantage of budget
airlines arises from the following.
(a) Sound Positioning
(b) Maintaining low operating costs while increasing revenue
(c) Effective market segmentation & Targetting
(d) Aggressive advertising

32. are the moral principles and values that guide behavior within the field of marketing and
cover issues such as product safety, truthfulness in marketing, communication, honesty
in relationships with customers distributors, pricing issue and the impact of marketin
decisions on the environment and society.
(a) Sustainable practices
(b) Marketing ethics
(c) Positioning principles
(d) Corporate social responsibility

33. In the 'Category F' which companies are classified by the SEBI ?
(a) Existing listed companies that are making a public issue
(b) New companies with less than 12 months in operation
(c) Companies having a good track record of profit
(d) Privately held companies

34. Which of the following is not an essential characteristic of negotiable instrument?

(a) Sells little to a bonafide transferor for value.

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(b) Flexibility in transfer
(c) Easy negotiability
(d) Transferor can sue in own naine without giving notice to the debtor.

35. Some bottles of soft drink were supplied by X to Y. Y got injured due to busting of one of
the bottles. Y claimed damages from X due to
(a) Condition as to fitness as quality
(b) Condition as to wholesomeness (c) Condition as to merchatability
(d) Condition in a sale by description

36. A business has been discontinued in the previous year 2021-2(b) The business loss.
(a) Can be carried forward and set off against profit gain of business and profession
(b) Can be set-off against income from business or profession or income under any other
head
(c) Can be carried forward and set off for indefinite period, whether business is carried or
discontinued
(d) Can be carried forward and set of for six years, whether business is carried or
discontinued

37. The employer has provided the facility of a 1.8 litre (c.c) car. The car is used for private
purposes also and all the expenses including the driver salary are borne by the employer.
The expenses of employer during the previous year amounted to Rs 60,000 and the
employer ha recovered Rs 1000 per month from the employee for this facility. What
amount per year shall be reduced by the employer from actual amount of expenditure.
(a) 31,400
(b)16,800
(c) 39,600
(d) 21,600

38. 'Pin Money' is used for

(a) Receipt on account of Dharmshala, Goshala etc.
(b) Women gets from her husband certain amount
(c) Income of non-residents from shipping business
(d) Income from building used for agriculture

39. When no liability for payment of tax in advance arise by an assesses on his income if tax
payable is
(a) Less than 10,000
(b) Less than 50,000
(c) Less than 5,00,000
(d) Less than 7,50,000

40. Four schedule have seen added at the end of the Limited Liability Partnership (LLP) Act,
the second schedule entertains which one of th |following?
(a) Provisions to conversion from private company into limited liability partnership
(b) Provisions regarding matters to mutual rights and duties of partners and limited
liability partnership and its partners applicable in tl absence of any agreement on such
matters
(c) Provisions relating to conversion of a firm into limited liability partnership
(d) Provisions for conversion from unlisted public company into limited liability
partnership

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41. Which of the following drive growth of international business in digitally interconnected
world?
A. Strong consumption in global south
B. Dynamic exchange, interest and inflation rates
C. Formation of trade promoting regional groups
D. Regulated capital and portfolio flows
E. Demographic dividend and low cost manufacturing
Choose the most appropriate from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) B. D and E only
(d) A, C and E only

42. The problem of persistent current account deficit can be avoided by pursuing which of the
following polices?
A. Encouraging Savings
B. Controlling fiscal deficit
C. Devaluation of the domestic currency
D. Curtailing productivity
E. Reduced dependence in costly external commercial borrowings
Choose the correct answer from the options given below:
(a) A, B, D only
(b) B, C, E only
(c) C. D. E only
(d) D, E, A only

43. The potential benefit of FDI to host countries include which of the following:
A. Access to superior technology and increased competition
B. Employment generation
C. Increase in domestic investments
D. Bridging host countries foreign exchange gaps
E. Reduction in income inequality
Choose the correct answer from the options given below:
(a) B. D. E only
(b) A, B, E only
(c) C. E. D only
(d) A, C, D only

44. Which of the following enumerates the distinctive features of Management Audit?
A. It is an appraisal of both policies and actions
B. It is preventive as well as creative check of cost accounting data
C. It is organisation oriented
D. It is dynamic and result oriented rather than simply procedure bound E. It ensures the
sound and healthy growth of business organisation
Choose the correct answer from the options given below:
(a) A, B, D only
(b) A, C, E only
(c) B. D. E only
(d) A. D. E only

45. A company can issue shares at a discount subject to which of the following conditions?

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A. Two year must have passed since the date at which the company was allowed to
commence business
B. The shares to be issued must be of a class already issued
C. Issue must take place within three month after the date of the CLB approval
D. Issue of shares must be authorised by an ordinary resolution of the company E.
Resolution must specify the maximum rate of discount
Choose the correct answer from the options given below:
(a) A, B, C only
(b) B, C, D only
(c) B. D. E only
(d) C, D, E only

46. Which of the following shapes are used to describe the long-run average cost curve?
A. S-shape
B. L-shape
C. V-shape
D. U-shape
E. W-shape
Choose the correct answer from the options given below:
(a) A and B only
(b) B and D only
(c) C and E only
(d) C and D only

47. A price ceiling below the equilibrium price leads to

A. Black marketing
B. Shortage of commodity
C. Surplus of the commodity
D. Hoarding of commodity
E. Increased in consumption
Choose the most appropriate from the options given below:
(a) A. B, and C only
(b) C, D and E only
(c) A. B and D only
(d) B. D and E only

48. Which of the following elements cause problem in application of internal rate of return
method while evaluating mutually exclusive projects?
A. Discount rate
B. Timing
C. Scale
D. Reversing flow
E. Leverage
Choose the correct answer from the options given below:
(a) A, B only
(b) D. E only
(c) B, C only
(d) A. D only

49. Which of the following are likely to lead an appreciation in the value of a country's
currency?
A. Higher real interest rate

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B. Higher nominal interest rate
C. Lower inflation
D. Higher inflation
E. Large current account deficit
Choose the correct answer from the options given below:
(a) B, C only
(b) A. C only
(c) D. B only
(d) E, A only

50. Before writing the research report (Pre-writing), a researcher usually considers
A. Purpose of study
B. Readers of report
C. Climax order of report
D. Visualization of report
E. Uses of report
Choose the correct answer from the options given below:
(a) C. D. E only
(b) A, C, Eonly
(c) E. B. A only
(d) D, B, A only

51. For the interval-scale and ratio-scale data usually which of the following measure of
association are used?
A. Kendall's tau b
B. Correlation ratio (eta)
C. Partial correlation
D. Spearman's tho
E. Product moment correlation
Choose the most appropriate answer from the options given below:
(a) A, D, Eonly
(b) B, A, E only
(c) C, B, E only
(d) D. B. E only

52. Which of the following factors influence the selection and construction of the scale?
A. Multicollinearity
B. Data properties
C. Number of dimensions
D. Level of Significance
E. Research objectives
Choose the most appropriate answer from the options given below:
(a) A. B. C only
(b) D, E, B only
(c) C. E. B only
(d) A. E. D only

53. While using a recruiting yield pyramid, the managers are aware of which of the following
while recruiting new hires?
A. The ratio of official needs to actual hires is 2 to 1
B. The ratio of places to the people called for an interview is 12 to 1
C. The ratio of offers male to new hires is 20 to 1

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D. The ratio of candidates invited for interviews to candidates interviewed is about 4 to 3
E. The ratio of candidates interviewed to offers made is 3 to 2
Choose the most appropriate from the options given below:
(a) A, D, E only
(b) B, C, D only
(c) A. C. E only
(d) B. D, E only

54. The utilitarian view of ethics is one of the few perspectives on business ethics and it
includes:
A. Respecting and protecting individual liberties and privileges
B. Imposing and enforcing rules fairly and impartially
C. Ethical decisions made soley on the basis of their outcomes or consequences
D. Encourages efficiency and productivity and is consistent with goal of profit
maximisation
E. Ethical decisions be learned on existing ethical norms in industries and communities
Choose the most appropriate from the options given below:
(a) A, E only
(b) C. Donly
(c) B. C only
(d) D. E only

55. Which of the following are considered as off balance sheet activities of a commercial Bank.
A. Leading money to a depositor
B. Borrowing from RBI
C. Purchasing a future contract
D. Issuing letter of credit
E. Engaging in Swap Contract
Choose the correct answer from the options given below:
(a) A. E. D only
(b) B, C, Eonly
(c) E. D. C only
(d) A. D, E only

56. Which are correct regulatory provisions for foreign bank operations in India?
A. They are incorporated in India and have their head office in foreign country B. Foreign
banks since 2002 have been allowed to set up their subsidiaries in India
C. The foreign banks are allowed to operate in India even it they are not financially sound
D. They have to operate according to the banking regulations in India
E. RBI approved that foreign banks which are present in India could open their branches
Choose the correct answer from the options given below:
(a) A. C. E only
(b) A, B, C only
(c) B. D. E only
(d) C, D, E only

57. What are the positive attributes of mobile banking.

A. Negative experience in European countries
B. Wireless Application Protocol (WAP)
C. Advanced Penetration of Mobile network
D. Less security
E. Faster data processing speed

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Choose the most appropriate answer from the options given below:
(a) A, C, D only
(b) B, D, E only
(c) B. C. E only
(d) C, D, E only

58. What are the different strategies firms reset to "pricing to capture
A. Challenge the cost route by ideology the inflection price point
B. Offering lower / agodesle price point
C. Penetration pricing
D. 'What the traffic can bear' pricing
E. Absorption cost pricing
Choose the most appropriate from the options given below:
(a) A and C only
(b) D and E only
(c) A and B only
(d) B and E only

59. Which of the following are necessary characteristic of modem selling?

A. Database and knowledge management
B. Brand extension
C. Customer relationship management
D. Segmentation, targeting and positioning
E. Satisfying needs and adding value
Choose the most appropriate from the options given below:
(a) A, C, E only
(b) B, C, D only
(c) C. D. E only
(d) A, D, E only

60. One or more parties to a negotiable instrument is/ are discharged from liability in which
of the following ways:
A. By giving the notice dishonour by the holder
B. By deliberately cancelling the name of party/parties
C. By taking qualified acceptance
D. By allowing drawee 24 hours to accept
E. By material alteration
Choose the most appropriate answer from the options given below:
(a) B. C. D only
(b) D, A, Conly
(c) E. C, B only
(d) A, B, C only

61. In which of the following cases, the agreement in void ab-initio

A. Mistake is caused by fraud or misreperatation
B. Mistake as to the identify of person contracted with
C. Mistake as to the nature and character of a written document
D. Bilateral mistake
E. Unilateral mistake
Choose the most appropriate answer from the options given below:
(a) C, D, E only
(b) A, C, E only

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(c) B. A. C only
(d) D, E, B only

62. Which are the conditions in which unilateral relief is granted in cases where section 90 is
not applicable in income tax?
A. Assessee should be resident of India is the previous year
B. The income should have accrued out side India
C. The assesse should not have paid the tax in such foreign country by deduction
D. The income should not accrued outside India
E. The income should be taxed both in India and a foreign country with which India has
no agreement for relief
Choose the correct answer from the options given below:
(a) A, B, E only
(b) B. C. E only
(c) A, D. E only
(d) A, C, E only

63. Which expenses are expressly disallowed under profits from Business or Profession?
A. Salary paid out of India or to a non-resident in India
B. Wealth tax
C. Payment to any Rural Development Programme
D. Expenditure incurred by companies on notified skill development project E. Interest,
royalty or fees payable outside India
Choose the correct answer from the options given below:
(a) A. D, E only
(b) A, B, C only
(c) C. D. E only
(d) A, B, E only

64. Tax planning involves which of the following features?

A. It is an inherent right of the tax payer
B. It has originated from the very existence of certain exemptions, deduction etc
C. Transaction take the form of colourable devices
D. It is legal and accepted by judiciary
E. It is based on principle of disclosure
Choose the most appropriate answer from the options given below:
(a) A. B. D only
(b) B, D, E only
(c) B. C. D only
(d) A. D. C only

65. The following are the hallmarks of an effective marketing mix:

A. The marketing mix matches customer needs
B. The marketing mix ensures high probability
C. The marketing mix contain a competitive advantage
D. The marketing mix is well blended and matches corporate resources E. The marketing
mix adheres to ethical principles
Choose the most appropriate answer from the options given below:
(a) A, B, C only
(b) A, C, D only
(c) C. D. E only
(d) B, C, D only

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66. Match List I with List II

LIST I International Trade theories LIST II Theory Propoundness
A. Factor Endowment theory I. Adam Smith
B. Product life cycle theory II. Micheal Porter
C. Absolute cost advantages theory III. Hecksher and ohlin
D. Competitive advantage theory IV. Reymond Vernon
Choose the correct answer from the options given below:
(a) A-I B-III. C-II. D-IV
(b) A-III. B-IV. C-I. D-II
(c) A-II. B-III. C-I. D-III
(d) A-IV. B-I, C-III. D-II

67. Match List I with List II

LIST I Approaches LIST II Developed/Suggested
A. Opportunity cost Approach I. David Watson
B. Replacement cost Approach II. Rensis Likert and Eric G. Flamholtz
C. Historical cost Approach III. Brummet Flamholtz and Pyle
D. Standard cost Approach IV. Hekimian and Jones
Choose the correct answer from the options given below:
(a) A-I B-II, C-III. D-IV
(b) A-II. B-III. C-I. D-IV
(c) A-I. B-IV. C-III. D-II
(d) A-IV. B-II. C-III. D-I

68. Match List I with List II

LIST I Nature of Goods LIST II Demand Elasticities
A. Inferior goods I. Positive cross price elasticity of demand (Exy>0)
B. Substitute goods II. Greater than unitary income elasticity of demand. (Ep>1
C. Complementary goods III. Negative income elasticity of demand (E1<0)
D. Luxury goods IV. Negative cross price elasticity of demands. (Exy<0)
Choose the correct answer from the options given below:
(a) A-III. B-IV, C-II. D-I
(b) A-III. B-I, C-IV, D-II
(c) A-II, B-I, C-III, D-IV
(d) A-IV, B-III, C-I, D-II

69. Match List I with List II

LIST I Capital structure theories LIST II Key components
A. MM approach I. Costs of financial distress
B. Pecking order theory II. Assymetric information
C. Trade off theory III. No target capital structure
D. Signaling theory IV. Home made Leverage
Choose the correct answer from the options given below:
(a) A-III. B-II. C-IV. D-I
(b) A-IV. B-III, C-I. D-II
(c) A-IV. B-I, C-III, D-II
(d) A-IV, B-III, C-II, D-I

70. Match List I with List II

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Choose the correct answer from the options given below:

(a) A-I. B-II C-III. D-IV
(b) A-III. B-I. C-II. D-IV
(c) A-IV, B-III, C-I, D-II
(d) A-II. B-IV. C-III. D-I

71. Match List I with List II Multiple purposes of performance assessment

LIST I General Applications LIST II Specific purpose
A. Development uses I. Identification for performance,
recognition, individual performance, salary,
promotion, termination.
B. Administrative uses/ decisions II. Critics of validity research, Helping meet
legal requirement.
C. Organisational maintained objectives III. Identification of individual needs,
strengths, performance feed back.
D. Documentation IV. HR planning. Determining organisation
trainings needs.
Choose the correct answer from the options given below:
(a) A-IV. B-I. C-II. D-III
(b) A-III. B-I. C-IV. D-II
(c) A-II, B-III. C-I. D-IV
(d) A-I, B-II C-III. D-IV

72. Match List I with List II

LIST I Committee LIST II Purpose
A. Basel committee I. India's Money market
B. Raghuram Rajan committee II. Reform for financial sector
C. Vaghal committee III. Supervision of Bank
D. Urjit Patel committee IV. Examining the monetary framework
Choose the correct answer from the options given below:
(a) A-II. B-III. C - IV. D-I
(b) A - III. B-II. C-II. D-IV
(c) A-III. B-IV. C-II. D-I
(d) A-II, B-IV, C-III. D-I

73. Match List I with List II

LIST I Stage of byers-seller relationship LIST II Characterised by the following
A. Pre-relationship stage I. Political supplies attempting to reduce
risk of change and to to shift risk.
B. Early stage II. Shared muted dependence and high
levels of commitment
C. Development stage III. Customer concers about risk of change
and its destence between validity and the

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potential supplies.
D. Long-term stage IV. Reduction, uncertainty and distance.
Choose the correct answer from the options given below:
(a) A-I. B-II, C-III. D-IV
(b) A-IV. B-I, C-II. D-III
(c) A-III. B-I. C-IV. D-II
(d) A-I. B-IV. C-III. D-II

74. Match List I with List II

LIST I Schedules of the LIST II
Companies Act,2013
A. Schedule III I. Deals with Code for independent directors
B. Schedule IV II. Corporate social responsibility activities
C. Schedule V III. Preparation of Balance sheet and statement of profit
and loss
D. Schedule VII IV. Appointment and remuneration to managerial
personnels
Choose the correct answer from the options given below:
(a) A-II, B-IV, C-III, D-I
(b) A-III. B-I, C-IV, D-II
(c) A-I. B-II, C-III. D-IV
(d) A-IV. B-III, C-I, D-II

75. Match List I with List II

LIST I Person non-resident Indian LIST II Rate for deduction of tax at source
A. On income from Dividend I. 30%
B. On income by way of short term capital II. 10%
gain referred to in section III A
C. On income by way of winning from horse III. 20%
race
D. On income by way of royalty or fees for IV. 15%
technical services payable by Government
Choose the correct answer from the options given below:
(a) A-I. B-II, C-III, D-IV
(b) A-II, B-III, C-I, D-IV
(c) A-III, B-IV. C-I. D-II
(d) A-IV. B-III, C-I, D-II

76. Sequence the conduct of following trade negotiation and facilitation rounds in
chronological order.
A. Kennedy round
B. Doha round
C. Geneva round
D. Tokyo round
E. Uruguay round
Choose the correct answer from the options given below:
(a) B, D, C, A, E
(b) C. A, D, E, B
(c) A. B. D. C. E
(d) D. C. A. E. B

77. Arrange the steps for verification and value of furniture and fixtures by an auditor.
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Ensure that the amount and rate of
A. Depreciation charged on different items is based on fair estimate of their working life
B. Check that repair to furniture if any, during the current year is debited to Profit and
loss Account
C. Verify with reference to the purchase invoice in case of the assets have been acquired
during the current accounting period
D. See that payment made on account of purchases of any item of furniture and fixture
through the invoices of the suppliers E. Check that a stock register is maintained
containing the details of the various items purchased
Choose the correct answer from the options given below:
(a) C. E. A. B.
(b) A. B. C. D.E
(c) B. C. D. A. E
(d)A. E. C. D. B

78. In order to maximise profits in oligopolistic markets, in which order firms addresses
following strategic challenges?
A. Bargaining power of buyers
B. Competitive intensity of rival firms
C. Bargaining power of suppliers
D. Threat from substitute products
E. Threat of new entry
Choose the correct answer from the options given below:
(a) B, C, E, D, A
(b) D, E, A. C. B
(c) D. E. B. C. A
(d) E, B, C. A. D

79. Sequence the following steps in the process of securitisation.

A. Special purpose vehicle (SPV) issue tradeble securities to find the purchase of pool of
assets
B. SPV subcotracts (outsource) the originator for collection of intrest and principle
payments on the pool of assets
C. SPV repay the funds to the investor or cashflow arise on the pool of assets
D. Originator maker a pool of assets and sold it to the SPV
E. SPV pays the funds the orgination for the pool of assets
Choose the correct answer from the options given below:
(a) B, D, A, C, E
(b) D, E. B, A. C
(c) D. B. A. E. C
(d) E, A, B, D, C

80. Sequence the following statistical distribution and tests in the increasing order of
symmetry
A. Z-distribution
B. Chi-square distribution
C. T-distribution
D. F-distribution
E. Uniform distribution
Choose the correct answer from the options given below:
(a) D, B, E, A, C
(b) B, C, D, AE

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(c) E. B. D. C.A
(d) C. D. E, A, B

81. Identify the correct sequence of the leadership development process as adopted by
Anderson Consulting.
A. Coach executive terms on individual leadership and effective teamwork
B. Assess organisation's direction and current strategies speed at which susneff results he
pcheved
C. Create effective commination strategical for key influences diredors shareholder
employed etc
D. coach individual exculives performed behavior along communications
E. Assess oagain setiws culture dyine required shifts and action merr leader to charge
them culture
Choose the correct answer from the options given below:
(a) C. D. B. AE
(b) E. B.A. C. D
(c) D. A. B. E. C
(d) B. E. D. A. C

82. Arrange the following legislations in primary and secondary market in ascending order of
its enactment.
A. Mutual fund regulations
B. Credit rating agencies Regulations
C. Credit rating regulations
D. SEBI intermediaries regulations
E. Sweat equity regulations
Choose the correct answer from the options given below:
(a) B, C, A, D, E
(b) C, D, E, A, B
(c) A. B. C, D, E
(d) A, B, E, D, C

83. Arrange the key steps in developing a perceptual map to determine the position of a brand
in the market place in sequence:
A. Identify set of competing brands
B. Conduct qualitative research where customers score each brand on all key attributes
C. Put brands on two dimensional maps
D. Aggregate all brands belonging to that category
E. Identify important attributes that consumers use when choosing brands using
qualitative research
Choose the correct answer from the options given below:
(a) B, C, E, D, A
(b) D. A. E. B, C
(c) A. C. D. B. E
(d) E. B, C, A, D

84. Arrange the procedure to make payment using electronic cash ledger.
A. Generation of challan Identification number (CIM) and Amount credited to electronic
cash ledger
B. Form GST PMT-07 and correction in electronic cash ledger
C. Challan of CIN (challan identification number) and mandate form payment through
NEFT or RTGS mode

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D. Generate the challan in form GST PMT-6 from portal and enter the details
E. Amount as per payment rule can be deposited by using internet banking, debit credit
card etc.
Choose the correct answer from the options given below:
(a) A. D. B. C, E
(b) A. B. C. D.E
(c) D. E. C. A. B
(d) B, C, D, E, A

85. What are the correct steps of procedures of e-filing of Income Tax Return?
A. Filing details and computation of tax
B. Generate XML file, filing income tax return and use of digital signature
C. Register and login on portal and select application return form
D. Use of ITR form V and sending ITR-V form to CPC
E. Making payment of balance tax and contain the data provided for
Choose the correct answer from the options given below:
(a) A. D. C. E. B
(b) C. A, E. B. D
(c) A. C. D. E. B
(d) A. B. C. D.E

86. Given below are two statements: one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: The return on capital invested is a concept that measures the profit which a
firm earns on investing a unit of capital
Reason R: Yield on capital is another term employed to express the idea
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

87. Given below are two statements:

Statement I: The price elasticity of demand is greater, more and better substitutes are
available for the commodity
Statement II: Normal goods (E > O) for which E > 1 are called luxuries while those normal
goods for which Er is between zero and or are considered necessities
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

88. Given below are two statements: one is labelled as Assertion A and the other is labelled as
Reason R Assertion A: Cross listing can potentially increase the stock price and lower the
cost of capital Reason R: Cross listing facilitates wider stock ownership and expands
invester base for a firm's stock In the light of the above statements, choose the correct
answer from the options Given below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true and R is NOT correct explanation of A

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(c) A is true but R is false
(d) A is false but R is true

89. Given below are two statements:

Statement I: The judgmental alltribution error is the tendency to over estimate the of
external factor and underestimate influence of external factor underestimate the influence
of internal factors when making indgements about the behavior of others
Statement II: Self-seeing bias is the tendency for individual to attribute then own success
to internal factors while pulling the blame for failures on external factors
n the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct (b) Both Statement I and Statement II
are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

90. Given below are two statements: one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: "Promise is an agreement "
Reason R: "An agreement is the sun total of offer and 'acceptance"
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

Government of India announced a medium-term fiscal deficit target of (d)5% of GDP by

2025-26, which involves a 2-percentage-point compression from current levels over the
course of three financial years. Targets for the centre and states for 2023-24 are 5.9% and
3%, respectively, with half-a-percentage point leeway to the latter for power sector
reforms. States have a steeper glide path for deficit reduction that is particularly
vulnerable to political promises of free food and energy. Gol, on its part, is committed to a
capital expenditure programme to nurse India economic recovery, and is nudging states
towards fiscal balance.
India's ability to attain its pre-pandemic fiscal targets is also influenced by its need to
keep credit flowing to small enterprises in an environment of globally high interest rates.
Broad-based investment revival depends on keeping credit costs in check by better
budgeting of government expenditure. States have additional requirement of cleaning up
off-budget liabilities accumulated through political promises such as those on free
electricity. Power distribution being the sole point of revenue injection, state utilities
inability to pay holding up investments in generation and transmission.
Apart from introducing imperfections in the market mechanism, sectarian political
targeting of welfare perpetuates inequality. Universal wealth redistribution through cash
transfers is a more robust approach. Promises to vote banks are essentially a zero-sum
game where on segment benefit at the cost of another. India has unsuccessfully
experimented with inclusive growth for much of its post-independence history. It has now
corrected course to grow through clusters accompanied by even-handed welfare delivery.
This approach has worked i steering the economy through multiple global economic
crises. A return to competitive populism will be an unnecessary throwback the | world's
fastest-growing major economy can do without.

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91. Which of the following is inferred 'zero-sum game' in the passage ?
(a) Wealth redistribution
(b) Promises to vote banks
(c) Even handed welfare delivery
(d) Balanced budget

92. What is the medium term fixed deficit target for the Govt of India for financial year 2023-
24?
(a) 4.5 per cent of GDP
(b) 3.0 per cent of GDP
(c) 5.9 per cent of GDP
(d) 6.5 per cent of GDP

93. India's roadmap to pre-pandemic level fiscal targets is primarily influenced by the
considerations of
A. Keeping competitive population in check
B. Urgency of broad-based investment revival in the economy
C. Need of universal wealth re-distribution
D. Need to maintain credit flow to small enterprises
E. Steering the economy through global economic crises
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A and C only
(d) A, B and D only

94. Secretarian political targeting of welfare, according to the passage will result into
A. Inequality
B. Market imperfections
C. Profiteering
D. Inclusive growth
E. Decentralised growth
Choose the correct answer from the options given below:
(a) A and B only
(b) B and C only
(c) C and D only
(d) D and E only

95. Which of the following apt features of course corrected India growth story?
A. Redistributive growth
B. Cluster based growth
C. Inclusive growth
D. Even handed welfare delivery
E. Competitive populism
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A and C only
(d) B and D only

The government's efforts to use technology to make ecommerce more competitive are
beginning to show up in food delivery services. Customers are reporting noticeable price

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differences in orders placed on online apps using the Open Network for Digital Commerce
(ONDC), which creates a network of interconnected e-market places that makes it easier
for small store-owners to tap demand online. Platform fees for food delivery using ONDC
are being reported at a fifth of those charged by the market leaders. This is a considerable
reduction in the cost of intermediation. This also holds out the potential to break the
dominance of Swiggy and Zomato, and eventually even that of retail platforms like
Amazon and Flipkart. ONDC has the potential to dilute market concentration by increased
consumer choice and lower entry barriers.
It could be a game-changer on the lines of the Unified Payments Interface (UPI), the
infrastructure on which digital transactions are growing in this country exponentially. On
its own, however, technology will not be a necessary and sufficient condition to make e-
commerce more competitive. UPI has exposed those limits by being dominated by PhonePe
and Google Pay, despite regulators seeking enhanced competition from among a wide field
players. ONDC, designed by the commerce ministry to democratise e-commerce, could get
around this by not being a platform, but it needs supporting regulation to break market
silos.
A proposal to revive consumer protection rules that make e-market places liable for mis-
selling by sellers could impede the progress of ONDC. Sellers should ideally be responsible
for information about products, and platforms be accountable for communicating it to
buyers. Consumer risks are, in some ways, magnified, in network of platforms ONDC
intends to create. A mushrooming of gateways to facilitate digital purchases has to be
accompanied by a set of rules that clearly delineates market risk from product risk.

96. After unified payment interface (UPI) success, which of the following government
initiatives is making headlines to democrative e- commerce these days in India?
1. Restraining e-commerce giants to follow inventory based business model
2. Decentralized e-commerce payments infrastructure
3. Proactive government facilitations of open network for digital commerce
4. Prevention of market concentration and monopolies

97. According to the passage which of the following is instrument in rapid growth of the Open
Network for Digital Commerce (ONDC)?
(a) Network of interconnected market places
(b) Decentralised payment infrastructure
(c) Unified payment interface for digital commerce
(d) Mushrooming gateways facilitating digital purchases

98. Open Network for Digital Commerce (ONDC) is getting increased traction because of
A. Strong consumer preferences and entry barriers
B. Considerable reduction in the cost of intermediation
C. A network of interconnected e-market places
D. Mushrooming growth of gateways to facilitate digital purchases
E. Proactive govt support and policy facilitation
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C. D and E only
(c) A, B, C and D only
(d) B, C and E only

99. Open Network for Digital Commerce (ONDC) is expected to

A. Lower consumer risk
B. Dilute market concentration

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C. Reduce cost of intermediation
D. Increase competition
E. Increase market failure
Choose the correct answer from the options given below:
(a) A, C, and E only
(b) B, C and D only
(c) C, D and E only
(d) A. B and C only

100. Given below are two statements:

Statement I: Technology is a necessary and sufficient conducting to make e-commerce
more competitive
Statement II: Sellers are responsible and accountable for mis-selling on digital platforms
In the light of the above statements, choose the correct answer from the options Given
below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

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

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UGC NET COMMERCE PAPER 2 PYQS 04/03/2023
SHIFT-1
1. Which one of the following non-tariff barriers is to be adequately addressed by India while
signing FTA with any country that has potential to import fruits, vegetables and other
plant based products from India?
(a) Phytosanitary regulations
(b) Sanitary regulations
(c) Complex Registrations
(d) Restrictive customs procedure

2. According to the Heckscher-Ohlin theory, which one of the following statements is

correct?
(a) Trade should take place among countries that have greater differences in their factor
endowments.
(b) A country with a relatively cheaper cost of labour would export labour-intensive
products
(c) Country benefits from international trade even if it is less efficient than other nations.
(d) Countries with the proximity of geographical locations would have greater trade
compared to the distant ones.

3. Which one of the following FTA was signed in February, 2022 and came into force in May,
2022?
(a) AI-ECTA Australia - India Economic Cooperation and Trade Agreement
(b) India-UAE Comprehensive Economic Partnership Agreement (CEPA)
(c) India-Nepal Treaty of Trade
(d) India-Singapore Comprehensive Economic Cooperation Agreement (CECA)

4. The Government of India on 27-9-22 extended the existing Foreign Trade Policy (2015-20)
upto which one of the following on account of volatile global economic and geo-political
situation and currency fluctuations?
(a) December, 2022
(b) March, 2022
(c) September, 2023
(d) December, 2023

5. Which one of the following Ind AS is related to "The Effects of Changes in Foreign
Exchange Rates"?
(a) Ind AS 19
(b) Ind AS 115
(c) Ind AS 103
(d) Ind AS 21

6. Policy of 'Playing Safe' followed by the accountant is based on which one of the following
concepts?
(a) Dual Aspect Concept
(b) Conservation Conventions
(c) Money Measurement Concept
(d) Realization Concept

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7. X and Y are partners in a firm sharing profits in the ratio 4:5. X surrenders 1/4 of his
share and Y surrenders 1/5 of his share in favour of Z, the new partner. What will be the
new profit sharing ratio of the firm's partners?"
(a) 3:4:2
(b) 55:44:81
(c) 4:5:2
(d) 44:55:81

8. Net profit after taxes of a firm is Rs.1,00,000 and its fixed interest charges on long term
debt are Rs. 20,000. What is the interest coverage ratio if the rate of income tax is 60% ?
(a) 13 times
(b) 13.5 times
(c) 12.5 times
(d) l 5 times

9. The study of unemployment is the subject matter of which one of the following
Economics?
(a) Descriptive Economics
(b) Normative Economics
(c) Micro Economics
(d) Macro Economics

10. Which one of the following commodities has the most inelastic demand?
(a) Cigarette
(b) Soap
(c) Ice-cream
(d) Salt

11. 'Sales Revenue Maximization' as an alternate objective of business firms was postulated
by whom of the following?
(a) O.E. Williamson
(b) Cyert and March
(c) WJ. Baumol
(d) K.W. Rothschild

12. Which one of the following statements is correct regarding the slope and the point
elasticity on all the points on a rectangular hyperbola shaped demand curve of a product?
(a) Slope remains the same while point elasticity goes on changing.
(b) Slope goes on changing while point elasticity remains the same
(c) Both slope and point elasticity remain the same
(d) Both slope and point elasticity go on changing

13. The current market price of a company's share is Rs.90 and the expected dividend per
share next year is Rs.4.50. If the dividends are expected to grow at a constant rate of 8
per cent, the shareholders required rate of return is:
(a) 5%
(b) 8%
(c) 13%
(d) 20%

14. The Kinked-shaped revenue curve of a firm relates to which one type of the market
structure?

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(a) Perfect Competition
(b) Oligopoly
(c) Monopoly
(d) Monopolistic Competition

15. Value-additivity principle' implies in which one of the following methods of capital
budgeting ?
(a) Pay back period method
(b) NPV method
(c) IRR method
(d) ARR method

16. The risk free rate is 6 per cent, the market risk premium is 9 per cent and the beta of
share is 1.54, then what is cost of equity
(a) 23%
(b) 19%
(c) 13%
(d) 20%

17. While averaging rates and ratios where time factor is variable and the act being performed
is constant, which one of the following measures of Central Tendency is appropriate?
(a) Arithmetic average
(b) Mode
(c) Harmonic mean
(d) Geometric mean

18. If two regression coefficients are 0.8 and 1.2, which one of the following is the value of
coefficient of correlation?
(a) 0.97
(b) 0.96
(c) 1.00
(d) 0.80

19. Which one of the following statements is true?

(a) For a symmetrical distribution \beta_{1}=0
(b) Kurtosis means 'lack of symmetry'.
(c) B2 can be negative
(d) Skewness studies the flatness or peakedness of the distribution

20. Which one of the following statements is incorrect?

(a) Algebraic sum of deviations taken from Arithmetic Mean is zero
(b) The sum of absolute deviations taken from Median is the largest
(c) Standard deviation is always less than range
(d) The sum of the squares of deviations of a given set of observations is minimum, when
taken about the arithmetic mean.

21. Which one of the following is referent source of power?

(a) Perception or belief that the manager has some special knowledge
(b) Manager's desire to identify with or imitate the subordinate
(c) Ability of the manager to reward the subordinate for obeying orders
(d) Ability of the manager to punish the subordinate for not obeying orders

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22. Which one of the following is not an advantage of the line organization?
(a) It ensures excellent discipline
(b) It fixes responsibility for the performance of tasks
(c) It is suitable for big organizations
(d) It is not expensive

23. A scale that measures a fair sample of the tasks and skills actually needed for the job in
question is known as:
(a) Test validity
(b) Criterion validity
(c) Content validity
(d) Construct validity

24. Training technique which teaches the importance of resolving matters is known as:
(a) Built-in-Tension
(b) Shadowing
(c) Tag Teams
(d) Mirroring

25. When Central Bank conducts a sale of securities, the cash reserve of commercial banks
shall:
(a) Increase at slow rate
(b) Decreases
(c) Remain constant
(d) Increase at fast rate

26. 'Average clause' in insurance is applicable for which one of the following cases?
(a) Double Insurance
(b) Re-insurance
(c) Over insurance
(d) Under insurance:

27. ABC Ventures is private equity investor considering investing 1000 million in the equity of
XYZ ltd. ABC Ventures requires a return of 30% on investment with planned holding
period of 5 years. The likely debt of XYZ ltd. will be ₹1000 million and cash balance of
₹300 million with a projected EBITDA of ₹1500 million for the year 5. The desired
ownership share of ABC Ventures in XYZ ltd.. given FVF_{0.30,5}=3.71(c) will be
(a) 37.13%
(b) 30.00%
(c) 37.90%
(d) 7.13%

28. One of the assumptions in Black-Scholes option pricing model is that underlying asset
prices are-
(a) Equi-distributed
(b) Marginally distributed
(c) log-normally distributed
(d) Normally distributed

29. In which one of the following service products, price sensitivity of the customers is low?
(a) Car rentals
(b) Transport

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(c) Medical services
(d) Retailing

30. Which one of the following is true while segmenting consumer markets on demographic
basis?
(a) Low predictability of consumer choice behaviour and high cost of measurement
(b) Low predictability of consumer choice behaviour and low cost of measurement
(c) High predictability of consumer choice behaviour and low cost of measurement
(d) High predictability of consumer choice behaviour and high cost of measurement

31. Which one of the following is not a market oriented definition of a business?
(a) We run a railroad
(b) We help improve office productivity
(c) We supply energy
(d) We distribute information

32. In which one of the following concepts, a buyer is passively involved in an exchange
transaction and he accepts whatever is offered to him by a marketer?
(a) Production concept
(b) Product concept
(c) Selling concept
(d) Marketing concept

33. If invoice discounting is not confidential in nature, the custom ers of the client are advised
to make payment directly to the factor. This facility, when offered with a non-recourse, is
known as-
(a) Agency Factoring
(b) Protected invoice discounting
(c) Full factoring
(d) Odd line factoring

34. The practice of forging a return address on an e-mail so that the recipient is fooled into
revealing private information is termed as:
(a) Hacking
(b) Cracking
(c) Dumpstordiving
(d) Spoofing

35. If any one fraudulently or dishonestly makes use of the electronic signature, password or
any other unique identification feature of any other person then under which section of IT
Act 2000, punishment shall be given?
(a) Section 63
(b) Section 66B
(c) Section 66C
(d) Section 67B

36. From Dec. 1. 2022 which body handles all complaints related to Profiteering under Goods
and Services Tax (GST) ?
(a) National Anti-Profiteering Authority (NAA)
(b) Niti-Aayog
(c) Competition Commission of India (CCI)
(d) GST Council

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37. Section 80 GGC of Income Tax Act is related with which one of the following?
(a) Deduction in respect of contribution given by any company to political parties
(b) Deduction in respect of contribution given by any person to political parties
(c) Deduction in respect of rent paid
(d) Deduction in respect of certain donation for scientific research

38. Which one of the following is not correct for Tonnage Tax System?
(a) It is a scheme of presumptive taxation
(b) It is applicable for the taxation of income derived from shipping activities
(c) It is applicable for both Indian as well as foreign companies
(d) Computation of tonnage income is covered U/S 115 VG

39. Tax on declared dividend is paid by whom?

(a) Shareholders
(b) Manager
(c) Receiver of the dividend
(d) Company

40. Which one of the following is not related to Income Tax in India?
(a) Taxpayer Identification Number (TIN)
(b) Dearness Allowance (DA)
(c) Leave Travel Allowance (L.T.A)
(d) Tax Deduction and Collection Account Number (TAN)

41. After COVID-19, which of the following are the upskilling enablers for women in India?
A. Introduction of electric vehicles
B. Flexible work opportunities
C. Work from home
D. Need to stay relevant, especially in technology
E. Willingness to return to work.
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) C and D only
(c) C, D and E only
(d) B, C, D and Eonly

42. E-commerce and large retailers in India bet big on mega consumption events on which of
the following days?
A. Republic Day
B. Independence Day
C. Black Friday
D. Cyber Monday
E. Akshya Tritiya
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) C and D only
(c) A, B and E only
(d) A, B, C, D and E

43. Which of the following are not assumptions of Marginal Costing?

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A. The total cost can be segregated into fixed and variable components.
B. Fixed costs per unit of production remains constant
C. Variable cost remains constant per unit of output
D. The selling price per unit remains unchanged.
E. Variable cost is variable per unit.
Choose the correct answer from the options given below:
(a) A and B only
(b) B and E only
(c) C and D only
(d) B and C only

44. Which of the following transactions are related to Financing Activities?

A. Share issued for cash
B. Dividend distributed to shareholders
C. Sale of machinery
D. Redemption of debentures
E. Provision for depreciation.
Choose the correct answer from the options given below:
(a) A and E only
(b) A and Conly
(c) A, B and D only
(d) A, B, C and D only

45. Which of the following statements are correct?

A. A monopolist can charge any price to maximize profits.
B. The slope of monopoly's MR curve is twice that of AR curve.
C. A necessary condition for monopoly's long-run equilibrium is AC=AR=MC=MR
D. A monopolist is in equilibrium where MC=MR
E. Equilibrium price of a monopolist is always higher than that of a competitive firm.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B. C and D only
(c) B, D and E only
(d) C, D and E only

46. Which of the following factors hinder the formation and sustainability of Cartels ?
A. Less number of firms in the industry
B. Presence of differentiated products
C. Different cost structures
D. Low frequency sales coupled with huge amounts of output.
E. Absence of monopolies and restrictive trade practices.
Choose the most appropriate answer from the options given below:
(a) B, C and D only
(b) A. D and E only
(c) C, D and E only
(d) B. C and E only

47. Which of the following factors determine the requirements of working capital of a firm?
A. Nature of Business
B. Technology and Manufacturing Policy
C. Management Skills
D. Credit Policy

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E. Market and Demand Conditions.
Choose the correct answer from the options given below:
(a) A. B. C and D only
(b) A, B, D, and E only
(c) C, D and E only
(d) A, B and E only

48. Which of the following are related to primary capital market?

A. IPO
B. Long Term Loans
C. Venture Capital
D. Letters of Credit
E. Participation Certificates
Choose the most appropriate answer from the options given below:
(a) A, B and E only
(b) C. D and E only
(c) A. B and C only
(d) A, D and E only

49. Which among the following are the measures of Central Tendency or Measures of
Location?
A. Mean
B. Range
C. Mode
D. Median
E. Variance
Choose the most appropriate answer from the options given below:
(a) A, B, C and E only
(b) C, D and E only
(c) A, C and D only
(d) B. C and D only

50. In which of the following practical situations, Poisson Distribution can be used?
A. Number of customers arriving at the super markets per hour.
B. Number of typographical errors per page in a typed material
C. Number of accidents taking place per day on a busy road.
D. Dice throwing problems.
E. Number of defective material say, blades, etc. in a packing manufactured by a good
concern.
Choose the most appropriate answer from the options given below:
(a) B. D and E only
(b) A, B, C and E only
(c) A, C, D and E only
(d) A, B, C and D only

51. Which of the following attributes are true in systems approach to performance appraisal?
A. Low degree of formality
B. Occasional appraisal frequency
C. Individual-oriented reward practices
D. Facilitative leadership practices
E. Problem solving as primary goal.
Choose the most appropriate answer from the options given below:

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(a) A, D and E only
(b) A, B and D only
(c) B, C and E only
(d) A, C, D and E only

52. Which of the following are the distinct features of the Principles of Management?
A. Flexibility
B. Universal application
C. Principles are absolute, not relative
D. Based on situation
E. Derived out of experience.
Choose the correct answer from the options given below:
(a) A, C and E only
(b) A, B and D only
(c) B. C. D and E only
(d) A, B, D and E only

53. According to Henri Fayol, which of the following are the Principles of Management?
A. Discipline
B. Decentralization
C. Unity of Command
D. Equity
E. Instability of Tenure
Choose the correct answer from the options given below:
(a) A. C. D only
(b) A, B, C, E only
(c) A, B, D only
(d) B, C, Eonly

54. Which of the following are the functions of Reserve Bank of India?
A. Issue of Currency
B. Accepting Deposits
C. Banker of Government
D. Bankers Bank
E. Credit Control.
Choose the correct answer from the options given below:
(a) B and C only
(b) A and D only
(c) A, B C and D only
(d) A, C, D, and E only

55. For ongoing maintenance of regulatory capital, which of the following risks were covered
by Pillar-1 Minimum Capital Requirement?
A. Credit Risk
B. Financial risk
C. Operation Risk
D. Market Risk
E. Reputational Risk
Choose the correct answer from the options given below:
(a) A, B and C only
(b) A, B and D only
(c) B, C and D only

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(d) A, C and D only

56. Which of the following are the advantages of Mobile Banking?

A. Insecure
B. Fraud reduction
C. Time saving
D. Separate internet required
E. Increased efficiency.
Choose the most appropriate answer from the options given below:
(a) B. C and Eonly
(b) A, B and D only
(c) C, D and E only
(d) B. D and E only

57. Which of the following are to be determined to estimate current market demand?
A. Total Market potential
B. Area Market potential
C. Analyze past sales
D. Sales force's input
E. Market share
Choose the most appropriate answer from the options given below:
(a) A, C and E only
(b) B. D and E only
(c) A. C and D only
(d) A, B and E only

58. Which of the following are social factors influencing consumer's behaviour?
A. Culture
B. Social class
C. Groups
D. Family
E. Roles and status
Choose the most appropriate answer from the options given below:
(a) A, D and E only
(b) B, C, D and E only
(c) C, D and E only
(d) B and C only

59. Which of the following are true when an organization uses intensive distribution of its
products?
A. Customers are moderate in number
B. Widespread market coverage
C. Customers are brand-conscious
D. Mass advertising
E. Pleasant shopping conditions.
Choose the most appropriate answer from the options given below:
(a) B, D and E only
(b) A, B and C only
(c) B and D only
(d) B, C and Donly

60. As per RTI Act, 2005, which of the following are exempted from disclosure [U/S 8(1)]?

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A. Information, the disclosure of which cause a breach of privilege of Parliament or the
State Legislature.
B. The monthly remuneration received by employee
C. Information received in confidence from foreign government
D. Information which relates to personal information the disclosure of which has no
relationship to any public activity or interest.
E. A statement of the categories of documents that are held by public authority or under
its control.
Choose the correct answer from the options given below:
(a) A, B and E only
(b) A, C and D only
(c) C, D and E only
(d) B, C and D only

61. An instrument is to be called 'Negotiable' as per Negotiable Instruments Act, 1881, if it

possesses which of the following characteristics?
A. Can be transferred infinitum
B. Having minimum lock-in period
C. Freely transferable
D. The holder cannot sue in his own name
E. Holder's title free from defects.
Choose the correct answer from the options given below:
(a) A. C and E only
(b) A, B and E only
(c) B, D and E only
(d) A, B, C and E only

62. Intellectual Capital of an enterprise includes its :

A. Processes
B. Designs
C. Relationships developed with its customers and suppliers
D. Internet domain names
E. Copyrights
Choose the correct answer from the options given below:
(a) A, B, C and D only
(b) B, C and E only
(c) C, D and E only
(d) A, B, C, D and E

63. Income received and accrued or arisen outside India from a business controlled in or a
profession set up in India, is taxed in the hands of which of the following?
A. Every citizen of India
B. Domicile of India
C. Ordinary Resident
D. Non-Ordinarily Resident
E. Non-Resident
Choose the correct answer from the options given below:
(a) A and C only
(b) A and B only
(c) C and D only
(d) C, D and E only

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64. Which of the following are related to tax-evasion?
A. Claiming bogus expenses and losses
B. Hiding capital nature of profits
C. Showing sales transactions
D. Showing excess transactions
E. Showing real income and expenses.
Choose the correct answer from the options given below:
(a) A and B only
(b) A, B and D only
(c) A, B and C only
(d) C and E only

65. Which of the following conditions should be fulfilled by an Assessee to avail deduction u/s
91 of Income Tax Act, 19617
A. The Assessee is a tax resident in India during the relevant previous year
B. The income accrues or arises to him/her outside India
C. There is an agreement for relief from double taxation between India and the other
country when the income has accrued or arisen.
D. The Assessee has paid tax on his/her foreign income in the foreign country
E. India does not have any agreement for relief from double taxation with the country.
Choose the most appropriate answer from the options given below:
(a) A and E only
(b) B and C only
(c) A, B, Dand Eonly
(d) A. B and E only

66. Match List I with List II

LIST I (COP 27) LIST II (COP 27 Action Plan)
A. Mitigation I. Promote climate know-how solutions
B. Capitalize II. Empowering all stakeholders to engage in climate action
C. Technology III. Phase down unabated coal power
D. Capacity Building IV. Creation of "loss and damage fund"
Choose the correct answer from the options given below
(a) A-II, B-III, C-IV, D-I
(b) A-IV, B-III, C-II, D-I
(c) A-III, B-IV, C-I, D-II
(d) A-IV, B-III, C-I, D-II

67. Match List I with List II

LIST-I (Issue) LIST II (Description)
A. Cut-off I Assets, Liabilities and Equity balances exist at the end of the period.
B. Classification II. Transactions and events have been recorded in proper accounts
C. Occurrence III. Whether all assets and liabilities are reported in the appropriate
period
D. Existence IV. Transactions recognized in the financial statements have occurred
and relate to the entity.
Choose the correct answer from the options given below:
(a) A-II, B-I, C-III, DIV
(b) A-IV, B-III, C-II, D-I
(c) A-I, B-III, C-II, DIV
(d) A-III, B-II, C- IV, D-I

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68. Match List I with List II
LIST-I LIST-II
A. Margin of Safety I. Profit x sales/PV Ratio
B. Break Even Point II Difference between total revenue and total
variable costs
C. PV Ratio III. Total Sales-Total Variable Cost / Total
Sales
D. Contribution IV Equality between contribution and total
fixed costs.
Choose the correct answer from the options given below:
(a) A-I, B-II, C-III, D-IV
(b) A-I, B-IV, C-III, D-II
(c) A-III, B-I, C-II, D-IV
(d) A-IV, B-I, C-II, D-III

69. Match List I with List II

LIST-I LIST -II
A. Finance Lease I. The lessee and the owner of the equipment are two different
entities.
B. Operating Lease II. Lessee sells an asset for cash to a prospective lessor and
then leases back the same assets
C. Sale and Lease back III.The lessor does not transfer all the risk and rewards
incidental to the ownership of the assets.
D. Direct lease IV. The lessor transfers substantially all the risks and
rewards incidental to the ownership of the assets to the
lessee.
Choose the correct answer from the options given below:
(a) A- IV, B-III, C-II, D-I
(b) A-IV, B-III, C-I, D-II
(c) A-I, B-II, C-III. D-IV
(d) A-I, B-II, C-IV, D-III

70. Match List I with List II

LIST I (Type of Test). LIST II (Subject matter of the problem)
A. Kruskal-Wallis test
B. Z-test
C. Anova test
D. Chi-square test
Choose the correct answer from the options given below:
(a) A-II, B-IV, C-I D-III
(b) A-II, B-III, C-IV. D-I
(c) A-III, B-I, C-II, DIV
(d) A-I B-II, C-III. D-IV

71. Match List I with List II

List I Characteristic List II Leadership Mode
A Source of power I. Power extension
B. Concept of power II. Empowerment
C. Dominant need III Bulding culture
D. Managing style IV. Multiplying

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Choose the correct answer from the options given below:

(a) A-II, B-IV, C-I, D-III
(b) A-IV, B-II, C-I, D-III
(c) A-II, B-IV, C-III, D-I
(d) A-II, B-III, C-I, D-IV

72. Match List I with List II

LIST-I (Application narratives) LIST-II (Statistical
distributions)
A. Time interval between successive arrival of customers in I. Pareto distribution
a queue
B. Distribution of income, property and certain human II. Poisson distribution
abilities in a capitalistic society
C. Movement of stock prices and distributing of income in III. Exponential distribution
a socialistic society Distribution of rare events ie the
probability of
D. occurrence is very small but the number of trials are IV. Lognormal distribution
very large
Choose the correct answer from the options given below:
(a) A-II, B-IV, C-III, D-I
(b) A-III. B-I, C-IV, D-II
(c) A-I, B-IV, C-II, D-III
(d) A-I, B-II, C-III, DIV

73. Match List I with List II

LIST-I (Sales Promotion Method) LIST II (Goal)
A Stock Jallowances I. To incentivize customers to try a new
product
B Premiums II. To incentivize stores to try a new product
C. Sampling III To incentivize stores to keep selling a
product
D. Advertising IV To incentivize customers to increase
their consumption
Choose the correct answer from the options given below:
(a) A-II, B-IV, C-I, D-III
(b) A-IV, B-II, C-I, D-III
(c) A-II, B-IV, C-III, D-I
(d) A-III, B-IV, C-I, D-II

74. Match List I with List II

LIST I (The sale of Goods Act, 1930) LIST II (Section)
(Condition)_
A Sale by Auction I. 15
B. Breach of Warranty II. 27
C. Sale by Description III. 13
D. Transfer of Title IV. 64
Choose the correct answer from the options given below:
(a) A-IV, B-III, C-I, D-II
(b) A-IV, B-I, C-III, D-II
(c) A-III, B-IV, C-II, D-I
(d) A-III, B-I, C-II, D-IV
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75. Match List I with List II

LIST-I (Income LIST II (Relationship with)
Tax Return)
A ITR-2 I. For a company other than a company claiming exemption under
section 11
B. ITR-6 II. For presumptive business income covered u/s 44 AD and 44 AE
C. ITR-7 III. For a person (including a company who are required to furnish return
u's 139 (4A) or 139 (4B) or 139 (4C) or 139 (4D)
D. ITR-4 IV. For individual and HUF not having income for business and
SUGAM profession.
Choose the correct answer from the options given below:
(a) A-IV, B-I, C-II, D-III
(b) A-IV, B-I, C-III, D-II
(c) A-III, B-II, C-IV, D-I
(d) A-II. B-I, C-IV, D-III

76. Sequence the following different settlement stages of the WTO dispute settlement System.
A. Retaliation
B. Implementation
C. Panel Review
D. Appellate
E. Consultations
Choose the correct answer from the options given below:
(a) D, E, A, C, B
(b) E, D, C, A, B
(c) E, C, D, B, A
(d) D, E, C, A, B

77. Arrange in proper sequence the following benefits available to Information System Auditor
who uses CATT:
A. Check susceptibility to threat. Much of the accounting is done through cloud accounts
or other online system.
B. Evaluating the system
C. Data security
D. Bolsters controls
E. Develop IT Governance
Choose the correct answer from the options given below:
(a) E, D, C, B, A
(b) C, B, A, D, E
(c) A B, C, D, E
(d) B. A. E, C, D

78. Arrange the following steps in a proper sequence to forecast the demand for a product
systematically and scientifically.
A. Making choice of method for demand forecasting
B. Estimation and interpretation of results
C. Specifying the objectives
D. Determining the time perspective
E. Collection of data and data adjustment.
Choose the correct answer from the options given below:
(a) C,A,E,D,B
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(b) C,D,A,E,B
(c) A,C,D,B,E
(d) E,D,C,A,B

79. Arrange the following steps involved in the budgeting in a proper sequence:
A. Screening the proposal
B. Evaluation of various proposals
C. Identification of Investment proposal
D. Performance review
E. Implementing the proposal.
Choose the correct answer from the options given below:
(a) A, C, B, D, E
(b) C, A, D, B.E
(c) C, A, B, E, D
(d) A, B, C, D, E

80. Arrange the following steps involved in a research process to carry out orderly and
systematic research:
A. Formulating hypothesis
B. Collection and analysis of data
C. Defining research problem
D. Prepare research design
E. Interpretation and report writing.
Choose the correct answer from the options given below:
(a) D, A, C, E, B
(b) C, A, D, B, E
(c) A, B, C, D, E
(d) C, B. A. E, D

81. Arrange the following examples of human needs in the hirearchy of their increasing
importance.
A. Insurance for accidents
B. Recognition and respect from others
C. Food and shelter provisions
D. Accomplishing distinction in chosen area by maximising potential.
E. Developing meaningful relations with others.
Choose the correct answer from the options given below:
(a) A, C, E, B, D
(b) C, A, B, E, D
(c) A, C, E, D, B
(d) C, A, E, B, D

82. Arrange the following industry verticals in the ascending order of their weightages in the
index of core industries in india.
A. Coal
B. Cement
C. Refinery Products
D. Electricity
E. Steel
Choose the correct answer from the options given below:
(a) A, C, D, B, E
(b) E, B, D, A, C

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(c) B, A, E. D, C
(d) B, E, D, C, A

83. Arrange the following stages of buying decision process in the logical sequence.
A. Comprehension
B. Adoption
C. Need recognition
D. Legitimization
E. Attitude forming.
Choose the correct answer from the options given below:
(a) A, C, D, E, B
(b) C, A, B, D, E
(c) C, A, E, D, B
(d) C, E, D, A, B

84. Arrange the Intellectual Capital Management Process Flow Stages in a proper sequential
order:
A. Index
B. Capture
C. Replicate
D. Identify
E. Store
Choose the correct answer from the options given below:
(a) B. D. A. E. C
(b) B, D, A, C, E
(c) D. B. A. E. C
(d) D, A, B, E, C

85. Computation of income from house property for let-out house, the following items are
deducted. Arrange them in a proper sequence:
A. Local taxes/Municipal Taxes
B. Standard deductions
C. Unrealized Rent
D. Interest on loan for the period the prior to previous year in which the house is
completed (in five equal annual instalments)
E. Interest on loan taken for purchase, construction or repair of the house, relating to the
previous year
Choose the correct answer from the options given below:
(a) A. B, E ,D, C
(b) C, A, B, E, D
(c) A, C, B, E, D
(d) D, A, B, E, C

86. Given below are two statements:

Statement I: Monetary policy on its own cannot influence economic growth but can only
support it by creating congenial factors.
Statement II: Monetary policy rates change get transmitted across the markets and
eventually get reflected in lending rates, mortgage rates and yields. Hence, monetary
policy can address the current inflation.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are true

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(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

87. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A : When holding company holds more than 50% ( but not whole) shares of a
company, then the holders of the rest of shares will be known as "Minority".
Reason R: Minority interest is calculated by considering proportionate shares and reserves
of Holding Company.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

88. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion-A: The theories of price determination under oligopoly are found to be
inapplicable to real life market conditions.
Reason-R: Real life oligopoly market situation is characterized by small number of sellers,
interdependence of decision making, barriers to entry, indeterminate price and output; all
leading to wide variety of situations.
In the light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is not the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

89. Given below are two statements:

Statement I: Translation exposure refers to the exchange gain or loss occurring from the
difference in the exchange rate at the beginning and the end of the accounting period.
Statement II: Transaction exposure refers to the change in the value of the firm caused by
the unexpected changes in the exchange rate.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

90. Given below are two statements:

Statement I: If a population from which a sample is to be drawn does not constitute a
homogenous group, stratified sampling technique is generally applied in order to obtain a
representative sample.
Statement II: In the case of small samples, z-test is applied even if the population
standard deviation is not available (given).
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct

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(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

The economy of India is a mixed, middle-income, developing social market economy. It is

the world's fifth-largest economy by nominal GDP and the third-largest by Purchasing
Power Parity (PPP). According to the International Monetary Fund (IMF), on a per capita
income basis, India ranked 142nd by GDP (nominal) and 125th by GDP (PPP). From
Independence in 1947 until 1991, successive governments promoted protectionist
economic policies, with extensive state intervention and economic regulation. This is
characterized as dirigisme, in the form of the Licence Raj. The end of the Cold war and an
acute balance of payments crisis in 1991 led to the adoption of a broad economic
liberalization in India. Since the start of the 21st century, annual average GDP growth has
been 6% to 7%, and from 2013 to 2018, India was the world's fastest growing major
economy, surpassing China. Economy of the Indian subcontinent was the largest in the
world for most of the recorded history until the onset of colonialism in early 19th century.
Share of Indian economy is 7.5% of world economy by PPP terms. The long-term growth
perspective of the Indian economy remains positive due to its young population and
corresponding low dependency ratio, healthy savings, and investment rates, increasing
globalization in India and integration into the global economy. Nearly 70% of India's GDP
is driven by domestic private consumption. The country remains the world's sixth-largest
consumer market. Apart from private consumption, India's GDP is also fuelled by
government spending, investments, and exports. India has been a member of the World
Trade Organization since 1 January 1995. It ranks 37th on the Ease of Doing Business
Index and 37th on the Global Competitiveness Report. Due to extreme rupee/dollar rate
fluctuations. India's nominal GDP too fluctuates significantly. With 50 crore (500 million)
workers, the Indian labour force is the world's second-largest. India has one of the world's
highest number of billionaires and extreme income inequality.
Because of several exemptions, barely 2% of Indians pay income taxes.

91. Given below are two statements:

Statement I: India has one of the world's highest number of billionaires and extreme
income inequality. Because of several exemptions, barely 5% of Indians pay income taxes.
Statement II: With 50 crore (500 million) workers, the Indian labour force is the world's
second-largest.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

92. Which of the following is not a correct statement?

(a) The economy of India is a mixed, middle-income, developing social market economy.
(b) India's GDP is also fuelled by government spending, investments, and exports.
(c) India has been a member of the World Trade Organization since 1 January 1996.
(d) Economy of the Indian subcontinent was the largest in the world for most of the
recorded history until the onset of colonialism in early 19th century.

93. Which one of the following is not a supportive factor to the Indian economy's long-term
growth perspective?
(a) Young population and corresponding low dependency ratio

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(b) Healthy savings and investment rates
(c) Increasing globalization in India and integration into the global economy
(d) Continuous increasing defence expenditure

94. Given below are two statements:

Statement I : Since the start of the 21st century, annual average GDP growth rate of India
has been 6% to 7%
Statement II: From 2013 to 2018, India was the world's fastest growing major economy,
surpassing China.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

95. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion-A: Nearly 70% of India's GDP is driven by domestic private consumption.
Reason-R: The country (India) remains the world's sixth largest consumer market.
In the light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is not the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

India began laying the foundation for a more digital economy more than a decade ago with
the launch of a national identification program called Aadhaar. The system creates
biometric IDs to establish proof of residence and has been instrumental in digitizing
financial transactions, among other benefits. This initiative is now part of India Stack, a
decentralized public utility offering a low-cost comprehensive digital identity, payment and
data management system. "IndiaStack is likely to lead to a massive change in how India
spends, borrows and accesses healthcare", says an expert. IndiaStack has broad
applications including a network for lowering credit costs, making loans more accessible
and affordable for both consumers and businesses. Credit availability is an important
component of economic growth, and "India is currently one of the most under leveraged
countries in the world", says the expert, whose team thinks the ratio of credit to GDP
could increase from 57% to 100% over the next decade. Indian consumers are also likely
to have more disposable income. India's income distribution could flip over the next
decade, and consequently overall consumption in the country could be more than double
from $2 trillion in 2022 to S 4.9 trillion by the end of the decade - with the greatest gains
going to non-grocery retail, including apparel and accessories, leisure and recreation, and
household goods and services, among other categories.

96. Which one of the following explains Aadhaar?

(a) National Identification program
(b) National Citizenship program
(c) Unified Identification program
(d) Unified census program

97. Which one of the following describes India Stack better?

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A. A decentralized public utility offering a low-cost comprehensive digital identity.
B. Payment and data-management system
C. A network for lowering credit costs
D. A trading platform
Choose the correct answer from the options given below:
(a) (A), (B) and (C) only
(b) (B), (C) and (D) only
(c) (A), (B) and (D) only
(d) (A). (C) and (D) only

98. Given below are two statements:

Statement I: Credit availability is an important component of economic growth.
Statement II: India is currently one of the most under leveraged countries in the world.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

99. "The system creates biometric IDs to establish proof of residence and has been
instrumental in digitizing financial transactions, among other benefits." The above
statement talks about which one of the following?
(a) PAN
(b) DIN
(c) Aadhaar
(d) GST

100. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A: India's income distribution could flip over the next decade.
Reason R : Overall consumption in the country could be more than double from $2 trillion
in 2022 to $ 4.9 trillion by the end of the decade.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

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

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UGC NET COMMERCE PAPER 1 PYQS 04/03/2023
SHIFT-1

The following table shows the distribution of male (M) and female (F) athletes who
participated in an Annual Sports Event from five different countries A-E over the years
2016 to 2021. Based on the data in the table, answer the question.

Year-wise Country-wise Distribution of Athletes.

Countries þ A B C D E
Years ÿ M F M F M F M F M F
2016 220 165 315 210 225 155 280 205 235 105
2017 330 210 420 310 345 165 420 315 390 260
2018 230 90 190 240 240 140 465 365 435 325
2019 480 245 570 420 330 210 630 470 445 290
2020 590 320 530 260 390 315 720 510 590 460
2021 410 260 320 360 540 345 780 605 680 490

1. The difference between the number of male and female athletes from country C was the
second highest in the year_______.
(a) 2016
(b) 2017
(c) 2019
(d) 2021

2. The average number of female athletes who participated from Country B over all the years
together was________.
(a) 300
(b) 275
(c) 310
(d) 280

3. The approximate percentage decrease in the number of male athletes who participated
from Country C in the year 2018 as compared to the previous year was________.
(a) 21%
(b) 25%
(c) 30%
(d) 35%

4. The number of female athletes who participated from country E in the year 2020 was
________% of the total number of athletes who participated from Country B in the year
2019.
(a) 60
(b) 56
(c) 50
(d) 46

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5. In the year 2017, the total number of athletes who participated in the event was the
second highest from country________.
(a) A
(b) B
(c) D
(d) E

6. The quality of one's memory can generally be judged on the basis of his/her
(a) Power of retention
(b) Analytical ability
(c) Communication skills
(d) Mathematical numeracy

7. Given below are two statements:

Statement I: Padlet is a game based platform used in educational institutions to create
quizzes, conversations and surveys.
Statement II: Seasaw is an app-based platform that allows students to work together on
texts, PDFs drawings and videos etc.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

8. Given below are two statements:

Statement I: Vygotsky emphasized the significant role played by adults and more abled
peers in children's learning.
Statement II The zone of proximal development is the area, where the child solves a
problem alone without the help of others.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

9. According to David and Johnson, which of the following are the basic elements of
cooperative learning groups?
A. Self conceptualisation
B. Individual accountability
C. Skill development
D. Positive interdependence
E. Promotive interaction.
Choose the correct answer from the options given below.
(a) A, C and D only
(b) A. B and E only
(c) B, D and E only
(d) A, B, D and E only

10. According to Kohlberg's theory the conventional level of moral development includes the
following stages:

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A. Obedience orientation
B. Being Nice/Relationships orientation
C. Social contract orientation
D. Law and Order orientation
E. Universal Ethical Principles orientation.
Choose the correct answer from the options given below:
(a) A and E only
(b) C and Donly
(c) B and D only
(d) B, C and E only

11. The tendency of researchers to subtly and inadvertently affect the behaviours of
participants in a study, obscuring the true effect of the independent variable, is called
(a) Placebo effect
(b) Experimenter Bias effect
(c) The Hawthorne effect
(d) Evaluation Apprehension effect

12. Arrange the following components of a research paper written in APA~style, in correct
order
A. Figures
B. Methods
C. Introduction
D. Tables
E. Results.
Choose the correct answer from the options given below.
(a) C, E, B, D, A
(b) C, B, E, D, A
(c) C, B, A, D, E
(d) C, B, E, A, D

13. The extent to which a measure yields the same scores across different times, groups of
people, or versions of the instrument. is called:
(a) Reliability
(b) Content validity
(c) Construct validity
(d) Predictive validity

14. Given below are two statements:

Statement I: Snowball sampling is a type of random sampling.
Statement II: Snowball sampling is helpful when participants belong to hard-to-reach
groups.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

15. In the case of negatively skewed distribution

(a) Mean< Mode < Median
(b) Mean > Mode > Median

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(c) Mean > Median Mode
(d) Mean < Median Mode

16. One of the cool media of communication is:

(a) Print
(b) Television
(c) Photograph
(d) Radio

17. In mass communication print is considered as a/an

(a) Folk medium
(b) Electronic medium
(c) Mechanical medium
(d) Ordinary medium

18. Which of the following are the characteristics of interactive communication?

A. It is decentralised.
B. It is state controlled.
C. It is highly centralized.
D. It is a two-way communication.
E. It provides universal citizenship.
Choose the correct answer from the options given below:
(a) A, B, C only
(b) B, C, D only
(c) C, D, E only
(d) A, D, E only

19. Which of the following make classroom communication interesting?

A. Many asides while speaking
B. Fruitful discussions
C. Use of relevant transitions
D. Finding out the correct context
E. Pressurising the students with authoritarian commands.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) C, D and E only
(d) A, D and E only

20. Given below are two statements:

Statement I: The new technologies have brought in 'Market Specific Communication'
Statement II: The second media age has made the interactive technologies of
communication to change the mediascape. In the light of the above statements, choose
the correct answer from the options given below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true.

21. In a certain coding language:

A. 'odo pado fao' means 'order packed food!
B. 'pado fao sa digo' means 'packed food is good"

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C. 'digo yao mao' means 'good young man'
D. "Yao mao sa sito' means 'young man is strong"

Which of the following means 'order' and 'strong, respectively in that language?
(a) 'yao' and 'mao
(b) 'digo' and 'mao'
(c) 'pado' and 'sito'
(d) 'odo' and 'sito'

22. In a competitive examination held in the year 2000, a total of 6,00,000 (6.0 lakh) students
appeared and 40% passed the examination. Forty percent (40%) of the total students were
females and the rest were males. The pass percentage among the males was 50%. Find
the pass percentage among the females.
(a) 25%
(b) 30%
(c) 35%
(d) 40%

23. What number should replace question mark (?) in the following series: 450, 473, 519,
588, 680, 795 ?
(a) 933
(b) 950
(c) 138
(d) 82

24. A businessman buys a house for 9.0 lakhs. He puts the house on rent and keeps 15% of
each month's rent separately for repairs. After paying 2106 as annual taxes on the rent,
he realizes 10% annually on his investment. Find the monthly rent of the house.
(a) 10,000
(b) 9,080
(c) 9.030
(d) 9,500

25. Sum of 3 consecutive odd mumbers and 3 consecutive even mumbers together is 23(a)
Also the smallest odd mumber is 11 less than the smallest even number. What is the sum
of the largest odd number and the largest even number?
(a) 81
(b) 73
(c) 77
(d) 79

26. "First it is staying out late, then it is not calling home, then wild parties, and before you
know it, your life will be completely out of control. Someday you will be glad that you had
a lockdown." Which informal fallacy is committed in the above argument?
(a) Red herring
(b) Slippery slope
(c) Strawman
(d) Appeal to authority

27. Which of the following statements are logically equivalent?

A. No philosophers are industrialists.
B. No industrialists are philosophers..

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C. All non-industrialists are non-philosophers.
D. All philosophers are non-industrialists.
Choose the most appropriate answer from the options given below:
(a) A, B and C only:
(b) A, B and D only
(c) A, C and D only
(d) B, C and Donly

28. Which of the following statements are logically contradictory to each other?
A. All philosophers are industrialists.
B. Some philosophers are not industrialists...
C. No philosophers are industrialists...
D. No industrialists are philosophers.
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) A, C and Donly
(c) A and C only
(d) C and D only

29. If the statement 'No philosophers are industrialists' is given as true which of the following
statements can be immediately inferred from it to be true?
(a) No philosophers are rich persons.
(b) All industrialists are philosophers..
(c) Some philosophers are industrialists.
(d) Some philosophers are not industrialists,

30. According to Nyaya (Classical Indian school of Logic) which means of knowledge
(pramana) is used in the following argument - "The world is an effect and hence it must
have an efficient cause like all objects e.g. pots, cloth etc. do. That efficient cause is God".
(a) Postulation (arthāpatti)
(b) Inference (anumāna)
(c) Comparison (Upamana)
(d) Verbal Testimony (Sabda)

31. Which one of the following acronyms matches incorrectly with their full form?
(a) ATM - Automatic Teller Machine
(b) SIM - Subscriber Identity Module
(c) GPS-Global Positioning Sensor
(d) GIS - Geographic Information System

32. Identify the correct order of the following terms A-E to complete the paragraph given below
that explains how data is sent securely over the Internet using the Transport Layer
Security (TLS) protocol:
The browser requests the to identify itself by providing its This is sent and a check is
performed to see if it is __ If it is, the sends a_back to the web server and data
transmission begins."
A. authentic
B. browser
C. certificate
D. signal
E. web server
Choose the correct answer from the options given below:

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(a) C, B, D, A, E
(b) E. C, A, B, D
(c) D, C, A, B.E
(d) B, C, A, E, D

33. Given below are two statements:

Statement I: AI is an artificially created environment used to give a feeling of 'being there',
whereas virtual reality learns from changing circumstances.
Statement II: Unlike dot matrix and inkjet printers, laser printers don't use ink when
producing documents
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true,

34. Which of the following are the main benefits of networking computers and devices rather
than using a number of stand- alone computers ?
A. Devices, such as printers, can be shared, thus reducing costs.
B. Licences to run software on networks are often far cheaper than buying licenses for an
equivalent number of stand- alone computers.
C. Users cannot share files and data.
D. Access to reliable data that comes from a central source, such as a file server.
Choose the correct answer from the options given below:
(a) A and C only
(b) B, C and D only
(c) A, B, C and D
(d) A, B and D only

35. Match List I with List II

LIST I (Computer Term) LIST II (Description)
A. Disk defragmentor I. Utility that prepares a disk to allow data files to be stored
and retrieved.
B. Disk formatter II. Storage media with no moving parts
C. Device driver III Utility that reorganises the sectors on a hard disk so that
files can be stored in contiguous data blocks.
D. Solid state drive IV. Software that communicates with OS and translates data
into a format understood by the device.
Choose the correct answer from the options given below:
(a) A-II, B-I, C-III, D-IV
(b) A-III. B-I, C-IV, D-II
(c) A-I, B-III, C-II, D-IV
(d) A-IV, B-II, C-I, D-III

36. Which of the following is measured in Dobson Units?

(a) Chloro Fluoro Carbon (CFC)
(b) Stratospheric Ozone
(c) Ultraviolet Rays
(d) Solar Radiation

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37. Photo Electro Chemical (PEC) solar cells are based on
(a) Only inorganic semiconductors
(b) Only organic semiconductors
(c) Only crystal silicon semiconductor
(d) Hybrid structure of inorganic semiconductors and an electrolyte

38. Match List I with List II

LISTI (Summit/Protocol) LIST II (Year)
A. Montreal Protocol I.1992
B. Rio Summit II. 2015
C. Kyoto Protocol III. 1987
D. Paris Agreement IV. 1997
Choose the correct answer from the options given below:
(a) A-III,B-I,C-IV,D-II
(b) A-III, B-I, C-II, D-IV
(c) A-I. B-III, C-II, D-IV
(d) A-IV, B-II, C-I, D-III

39. Thermal expansion of oceans may lead to

(a) Global warming
(b) Ozone depletion
(c) Melting of glaciers
(d) Sea level rise.

40. Waste stabilization ponds are:

A. Mainly oxidation ponds
B. Used to remove pathogen and organic contents
C. Natural treatment systems
D. Extremely quick
E. Most efficient in extremely cold weather,
Choose the correct answer from the options given below:
(a) A. B and C only
(b) B, C and D only-
(c) A. B and E only
(d) C. D and E only

41. Given below are two statements:

Statement-I: The Governor of the State is the Chancellor of deemed universities.
Statement-II: Deemed universities can design their own syllabus and course work.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false,
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true.

42. What is the full form of 'DIKSHA"?

(a) Digital Infrastructure for Knowledge Sharing
(b) District Institute for Knowledge Sharing
(c) Data Information and Knowledge Sharing
(d) Digital Institution for Knowledge Sharing

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43. Which of the following are the key ingredients of quality in-service teacher training?
A. Preparation of training material
B. Assessment of training needs
C. Development of appropriate curriculum/Modules
D. Assessment of the impact and outcome of the training.
Choose the most appropriate answer from the options given below:
(a) A and D only
(b) B and C only
(c) A. C and D only
(d) A, B, C and D

44. According to NEP 2020 more HEIS shall be established and developed in underserved
regions to ensure full
(a) Access, Equity and Inclusion
(b) Accountability, Equality and Integration
(c) Assessment, Equivalence and Identity
(d) Autonomy. Effectiveness and Implication

45. Which of the following recommendations were put forward by University Education
Commission appointed after independence by the Indian Government concerning medical
education in India?
A. Medical colleges should admit a maximum mumber of hundred students.
B. History of medicine with special reference to Indian systems should be taught in the fir
st degree course in medicine.
C. More importance should be attached to Public health. Engineering and Nursing.
D. There should be provision of ten beds per student admitted in the medical college.
Choose the correct answer from the options given below:
(a) A and B only
(b) B and C only
(c) B, C and D only
(d) A, B, C and D

Read the following passage and answer the question.

It was in this atmosphere of intense antagonism and hostility that Gokhale introduced his
Elementary Education Bill in 1910. He called it 'a small humble attempt to suggest the
first steps of a journey, which is bound to prove long and tedious, but which must be
performed, if the mass of our people are to emerge from their present condition'. Gokhale
argued :
Free and compulsory education is the first remedy of all the remedies to be
applied...without compulsion the educational developments in the last 60 years have been
hopelessly slow. The only way that the world has discovered to secure universal education
in a country has been by making it compulsory and free. Compulsion would operate
harshly on the poorer classes of the community if it is not made free.
He suggested that only those students whose family income was 25 rupees and above per
month should pay fees; for the rest, education was to be free. Out of the total expenditure
required for it, two-thirds should be borne by the state and one- third by the local bodies.
He suggested imposing an additional 8-anna tax on salt on the grounds that 'my
countrymen should eat less salt than that their children should continue to grow up in
ignorance and darkness'.

46. According to Gokhale, what percentage of the total expenditure on education should be
borne by the state?

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(a)~25%
(b) ~33%
(c) ~66%
(d)~75%

47. Given below are two statements:

Statement-I: Gokhale believed that education was necessary for the Indian masses to be
liberated from their miserable condition.
Statement-II: Gokhale faced little resistance in the introduction of his bill on elementary
education.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

48. Which of the following can be inferred from the passage?

A. The growth of education in India was very slow prior to 1910.
B. There was a need to make education compulsory for all according to Gokhale.
C. Gokhale believed that achieving education for all Indians was a distant dream.
D. Gokhale suggested that majority of expenditure for education should be met by local
bodies.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A, B and D only
(d) A. C and D only

49. Given below are two statements:

Statement-I: Gokhale believed that education should be made free for the poor people.
Statement-II: Gokhale suggested that an additional tax of 8-anna should be imposed on
salt.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

50. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R:
Assertion-A: Gokhale was not in favour of free education for the poor.
Reason R: He suggested that those students whose family income was Rs. 25 per month
or more, should pay the education fees.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A.
(b) Both A and R are correct but R is NOT the correct explanation of A.
(c) A is correct but R is not correct..
(d) A is not correct but R is correct.

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

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UGC-NET Commerce 2022 04-03-2023 shift-2
English
1. Which of the following is the right description of the "Duty Free Import Authorization
(DFIA)" Scheme?
(a) Duty free imports of inputs required for export production subject to certain export
obligations, as stipulated in the foreign trade policy.
(b) Exemption in respect of custom duty, additional duty, education cess and anti-
dumping or safeguard duties for inputs used in exports.
(c) Import of capital goods at concessional rate of duty subject to an appropriate export
obligation accepted by the importer.
(d) Grant of credit on post-export basis as specified percentage of F.o.B value of exports
made in a freely convertible currency.

2. An Indian company receiving investment from outside India for issuing shares/convertible
debentures/preference shares under the FDI Scheme should report the details of the
inflow to the RBI. What is the time limit for reporting these details to RBI?
(a) Within 10 days from the date of receipt
(b) Within 15 days from the date of receipt
(c) Within 30 days from the date of receipt
(d) Within 45 days from the date of receipt

3. Which one of the following theories of attitude change states that changes in opinions can
result in to an attitude change?
(a) Balance Theory
(b) Cognitive Consistency Theory
(c) Reinforcement Theory
(d) Cognitive Dissonance Theory

4. According to Porter's diamond, which of the following is NOT a factor of national

competitive advantage?
(a) Relating and supporting industry
(b) Firm strategy, structure and rivalry
(c) Bargaining power of buyers
(d) Demand conditions

5. X and Y are partners sharing profits and losses in the ratio of 3:(b) They admit Z as a new
partner with 1/5 share in the profits. Calculate the new profit sharing ratio of the
partners.
(a) 12:8:5
(b) 12:8:6
(c) 12:7:6
(d) 12:3:7

6. At the break-even point, contribution is equal to

(a) Variable cost
(b) Profit
(c) Fixed cost
(d) Sales

7. Which one of the following is NOT true?

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(a) Capital expenditure results in extra capacity
(b) Capital expenditure results in a benefit which will last for a long time
(c) Capital expenditure results in the acquistion of a permanent asset
(d) Heavy expenditure on advertisement campaigns in order to introduce a new product in
the market

8. As per the information given below, what is the correct material yield variance?
Standard input = 100 kg
Standard yield = 90 kg
Standard cost per kg of output = Rs.20
Actual input = 200 kg
Actual yield = 182 kg
Actual cost per kg of output = Rs.19
(a) Rs 40 (Favourable)
(b) Rs 400 (Favourable)
(c) Rs 400 (Unfavourable)
(d) Rs 38 (Favourable)

9. When the negative income effect overwhelms the positive substitution effect so much that
the demand curve is positively sloped, the commodity in consumption is described as;
(a) Normal good
(b) Inferior good
(c) Giffen good
(d) Luxury good

10. In the extreme case of perfect price discrimination, the entire consumer surplus in the
market goes:
(a) to consumers
(b) to monopoly producer
(c) as deadweight loss
(d) to capital

11. A situation, in which economic actors interacting with one another, each choose their best
strategy, given the strategies that all the other actors have chosen, is called
(a) Nash equilibrium
(b) Prisoners' dilemma
(c) Dominant strategy
(d) Predatory strategy

12. In the Cobb- Douglas production function, Q = AKL, where 'a' and 'b' are output
elasticities of capital and labour, respectively. If a + b > 1, the underlying return to scale
will be
(a) increasing
(b) decreasing
(c) constant
(d) linear

13. Which one of the following institutions is not a part of the World Bank Group?
(a) International Bank for Reconstruction and Development (IBRD)
(b) International Development Association (IDA)
(c) Multilateral Investment Guarantee Agency (MIGA)
(d) The Bank for International Settlements (BIS)

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14. According to the traditional approach, what is the effect of increase in degree of leverage
on the valuation of a firm?
(a) Increases
(b) Decreases
(c) Remains unaffected
(d) Increases first and then decreases

15. An economic enterprise requires 90,000 units of certain item annually. The cost per unit
is Rs (c) The cost per purchase order is Rs 300 and the inventory carrying cost is Rs 6 per
unit per year. What is EOQ?
(a) 3000 units
(b) 1500 units
(c) 6000 units
(d) 4500 units

16. Dell Ltd. has Rs 100 preference shares redeemable at a premium of 10% with 15 years
maturity. The coupon rate is 12%; the flotation cost is 5% and the sale price is Rs 95.
Calculate the cost of preference shares and select the correct option.
(a) 12%
(b) 12.67%
(c) 13 %
(d) 13.33%

17. Which of the following is not a characteristic of normal distribution?

(a) The mean of the normal distribution may be negative or positive
(b) For any normal random variable x P (x su) = P ( x 2 u) = 0.50
(c) For every pair of values and σ, the curve of the distribution is bell-shaped and
symmetric
(d) The kurtasis of the distribution is always less than 3

18. For a Poisson distribution P (x) = the mean value is

(a) 2
(b) 5
(c) 10
(d) 25

19. Which of the following is used to assess the relationship between two ordinal variables?
(a) Spearman's rho
(b) Phi
(c) Cramer's V
(d) Chi-square

20. A "Spurious " relationship between two variables is expressed as :

(a) An apparent relationship that is so curious that it demands further attention.
(b) A relationship that appears to be true because each variable is related to a third one.
(c) One that is so ridiculously illogical that it cannot be possibly true.
(d) One that produces a perfect negative correlation on a scatter diagram.

21. Which one of the following motives characterizes dominant organizational climate of
clubs?
(a) Extension
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(b) Affiliation
(c) Dependency
(d) Achievement

22. Which one of the following is the description of Ego Regression Mechanism?
(a) Returning to a previous stage of psyche development
(b) Avoiding unacceptable emotions by focusing on the intellectual aspects
(c) Taking out impulses on a less threatening target
(d) Pulling into the unconscious situation

23. Which one of the following is not an advantage of organization structure by product in a
manufacturing company?
(a) Places attention and effort on product line
(b) Requires less persons with general managerial abilities
(c) Improves coordination of functional activities
(d) Permits growth and diversity of products

24. Which one of the following is not an assumption under the McGregor's Theory Y?
(a) The degree of commitment to objectives is in proportion to the size of the rewards
associated with their achievement.
(b) Under the conditions of modern industrial life, the intellectual potentialities of the
average human being are only partially utilized.
(c) External control and the threat of punishment are the only means for producing effort
towards organizational objectives.
(d) Average human beings learn, under proper conditions, not only to accept responsibility
but also to seek it.

25. The minimum capital requirement for a life insurance company in India is :
(a) Rs 300 crores
(b) Rs 200 crores
(c) Rs 500 crores
(d) Rs 100 crores

26. Universal banks that function as investment banks in India are regulated by:
(a) SEBI
(b) RBI
(c) Ministry of Finance
(d) IRDA

27. When the RBI desires to restrict expansion of credit, it :

(a) increases the bank rate
(b) decreases the bank rate
(c) decreases the CRR for banks
(d) decreases the SLR for banks

28. Which of the following refers to default-risk intermediation?

(a) Borrowing short-term funds from savers and making long-term loans to borrowers
(b) Making loans to risky borrowers by attracting savings from the savers who are risk-
averse
(c) Using information gathering skills of the intermediary
(d) Pooling small amounts of savings from individuals to give loans to others

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29. The knowledge and courtesy of employees and their ability to convey trust and confidence
indicates which of the following?
(a) Responsiveness
(b) Assurance
(c) Empathy
(d) Reliability

30. Which of the following is not true about rural markets?

(a) Growth opportunities in rural markets are driving companies to them.
(b) Information and communication technology are the drivers of change in rural markets.
(c) Socioeconomic changes are yet to happen to rural markets.
(d) Rural consumers shop for grocery, apparels, consumer durables of agri-inputs in
nearby urban shops.

31. "Manufacturers of razors and cameras often price these products low and set high mark
ups on razor blades and films."
As per the above statement, manufacturers of razors and cameras are using which one of
the following?
(a) Captive-product pricing
(b) Two-part pricing
(c) Product-bundling pricing
(d) By-product pricing

32. A vertical marketing system (VMS) combining successive stages of production and
distribution under single ownership, is known as:
(a) Corporate VMS
(b) Administered VMS
(c) Contractual VMS
(d) Conventional VMS

33. The act of throwing on board cargo and other things from the ship to safeguard it from
total loss in times of peril is called:
(a) Jettisoning
(b) Moral hazards
(c) Consequential peril
(d) Reverse indemnity

34. The right to 'stoppage in transit' exercised by an unpaid seller is to

(a) recover price
(b) retain possession
(c) regain possession
(d) recover damages

35. Which one among the following is the duty of the Central Assistant Public Information
Officer or a State Assistant Public Information Officer ?
(a) To receive the applications for information or appeals under the RTI Act for forwarding
the same forthwith to the CPIO/SPIO
(b) To receive the fee for the RTI applications
(c) To assist the CPIO/SPIO in furnishing the reply to the applicant
(d) To ensure that RTI applications are replied within the prescribed period

36. The relationship between a bank and its customers is basically that of:

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(a) Debtor and Creditor
(b) Trustee and Beneficiary
(c) Principal and Agent
(d) Drawer and Payee

37. Provisions of the Vivad se Vishwas Act, 2020 does not apply in respect of tax arrears
relating to which one of the following?
(a) an assessment year in respect of which prosecution has been instituted on or before
the date of filing of declaration
(b) any income from agricultural land in India
(c) Section 10 (3) dealing with tax deductions
(d) assessments under Section 80 Gl of the Act

38. Under Section 80TTB of the Income Tax Act, which amount of benefits is available to
senior citizens on account of interest income from deposits with banks or post-office or
cooperative banks?
(a) Rs 50,000
(b) Rs. 1,00,000
(c) Rs. 75,000
(d) Rs. 1,50,000

39. Provisional Input Tax Credit can be utilised against

(a) Any tax liability
(b) Self-assessed tax liability
(c) Differential income tax gains
(d) Fine

40. Penalty for late filing of the Income Tax Return for individuals under the Income Tax Act,
1961 is up to a maximum of amount of:
(a) Rs 10,000
(b) Rs 25,00,000
(c) 10% of Gross Total Income
(d) 2% of Tax liability

41. Revenue expenditure of the Central government includes

A. Debt relief to farmers
B. Subsidy for fertilizers
C. Grants to states
D. Central plan allocations for rural development
E. Central plan allocation for irrigation and flood control
Choose the correct answer from the options given below:
(a) A, B and E only
(b) A, C and D only
(c) C, D and E only
(d) A, B and C only

42. Exchange depreciation rate of one currency in relation to another currency is,
approximately, equal to their
A. Inflation rate differential
B. Interest rate differential
C. Growth rate differential
D. Fiscal deficit differential

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E. Forex reserve differential
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A and B only
(d) D and E only

43. Which of the following activities are included under investing activities in the Cash Flow
Statement?
A. Cash receipts from disposal of fixed assets (including intangible)
B. Cash advances and loans made to third parties (other than advances and loans made
by a financial enterprise)
C. Cash receipts from repayment of advances and loans made to third parties (other than
advances and loans of a financial enterprise)
D. Cash repayments of amount borrowed
E. Cash payments to suppliers for goods and services
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) C and D only
(d) A, C and D only

44. Identify cost drivers used in Activity Based Costing from the following:
A. Volume
B. Transaction
C. Intensity
D. Currency
E. Duration
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A, C and D only
(d) B, C and E only

45. Increasing returns to scale arise because as the scale of operation increases it causes
A. more division of labour and specialisation
B. productive utilisation of machinery
C. lower procurement and logistic costs
D. more difficulties in managing firm effectively
E. more economies in advertising
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A, B, C and Donly
(d) A, B, C and E only

46. Consumer rationality implies which of the following assumptions?

A. Non-satiety of needs
B. Transitivity of preferences
C. Cardinal measurement
D. Selfish economic motive
E. Ordinal measurement

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Choose the correct answer from the options given below:
(a) A and B only
(b) C and D only
(c) A, C and E only
(d) A, B and D only

47. Which of the following relationships raise presumptions of undue influence?

A. Parent and child
B. Doctor and patient
C. Husband and wife
D. Fiance and fiancee
E. Creditor and debtor
Choose the correct answer from the options given below:
(a) A, B and C only
(b) A, B and D only
(c) A, B and E only
(d) B, C and D only

48. The Internal Rate of Return (IRR) method offer which of the following advantages?
A. It recognises the time value of money
B. It is consistent with the shareholders' profit-maximization objective also
C. It considers all cash flows occurring over the entire life of the project
D. It generally gives the same acceptance rule as the NPV method
E. It considers all positive NPV over the entire life of the project
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and E only
(c) A, B, C and D only
(d) A, D and E only

49. Which of the following are the off-balance sheet source(s) of finance?
A. Securitisation
B. Factoring
C. Forfaiting
D. Operational lease
E. Credit rating
Choose the correct answer from the options given below:
(a) A and E only
(b) B, C and E only
(c) A, B and C only
(d) A, B, C and Donly

50. Which of the following factors influence portfolio beta?

A. Portfolio size
B. Investment longevity
C. Trading volume
D. Return interval (weekly vs. monthly)
E. Portfolio leverage
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) D and E only

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(d) A, B, C and D only

51. A contract of life insurance is a/an

A. Indemnity
B. Wagering agreement
C. Contingent agreement
D. Assurance
E. Guarantee
Choose the correct answer from the options given below:
(a) A, C and E only
(b) A and D only
(c) B, C and E only
(d) C and D only

52. Which of the following statements are rightly expressed in relation to statistical testing?
A. When the expected frequencies are too small, the value of x2 will be overestimated and
will result in too many rejections of the null-hypothesis
B. Mann-Whitney test assumes that population is normal
C. Kruskal-Wallis test is similar to one-way analysis of variance
D. The homogeneity of variance means that the test is concerned with the hypothesis that
the identical means came from the same population
E. Student's t-Distribution is by definition normal
Choose the correct answer from the options given below:
(a) A, B and D only
(b) B, C and D only
(c) A, C and E only
(d) C and D only

53. Which of the following are distinctive characteristics of the Performing stage of the Group
Building Process?
A. The Group gains its identity
B. Leadership is shared
C. Disengagement from relationships
D. Group morale is high
E. Group loyalty is intense
Choose the correct answer from the options given below:
(a) A and B only
(b) B and C only
(c) A, D and E only
(d) C, D and E only

54. Which of the following are characteristic quadrants of the BCG matrix ?
A. Cash cows
B. Question mark
C. White Elephant
D. Crown Jewel
E. Dogs
Choose the correct answer from the options given below:
(a) A, B and E only
(b) A, C and D only
(c) B, C and E only
(d) C, D and E only

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55. The following tools are used for forecasting the supply of inside candidates for human
resource planning
A. Scatter Plot
B. Personnel replacement charts
C. Managerial judgement
D. Markov Analysis
E. Trend Analysis
Choose the correct answer from the options given below:
(a) A and C only
(b) C, D and E only
(c) B, C and E only
(d) B and D only

56. Which of the following statements are correct?

A. NEFT allows the customer to transfer funds with a maximum limit of Rs 3,00,000 per
day
B. IMPS allows to transfer funds in an Insta Payment Mode
C. The minimum limit to transfer funds via RTGS is Rs 2,50,000
D. Instant Real Time Payment System developed by National Payment Corporation of India
is UPI
E. For clearing of cheques under Positive Pay System (PPS), the minimum limit is Rs
50,000
Choose the correct answer from the options given below:
(a) B and D only
(b) C and E only
(c) A and B only
(d) C and D only

57. Which of the following statements are correctly expressed in relation to capital and credit
flows?
A. Theoretically, regulators of financial markets believe that increasing capital
requirements on banks could reduce the likelihood of their failure
B. Open financial markets are solely influenced by the currency rate movements
C. Financial inflow reflects the net flow of capital into one country in the form of increased
purchases of domestic assets by foreigners
D. Tier II Capital for banks include Perpetual Debt Instruments
E. Only private banks in India have implemented Basel III guidelines
Choose the correct answer from the options given below:
(a) C, D and E only
(b) B, C and E only
(c) A, C and D only
(d) A and B only

58. Holistic marketing recognizes that a broad integrated perspective is necessary. Which of
the following are the components of Holistic marketing ?
A. Direct marketing
B. Relationship marketing
C. Internal marketing
D. Socially responsible marketing
E. Green marketing
Choose the correct answer from the options given below:

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(a) B and C only
(b) B, C and D only
(c) A, B and C only
(d) C, D and E only

59. Which of the following statements are true for Direct Marketing?
A. Direct marketing is an interactive mode of marketing
B. Direct marketing model is based on Network marketing and multi-cultural marketing
C. Globalisation of markets and the internet have facilitated the growth of direct
marketing
D. Future of direct marketing in India is independent of use of debit and credit cards
E. Direct marketing activities are not location specific
Choose the correct answer from the options given below:
(a) A and B only
(b) B, C and D only
(c) A, C and E only
(d) A, C, D and E only

60. An ideal advertisement (ad) campaign would ensure that

A. The ad motivates consumers to consider purchases of the brand
B. The ad gives maximum possible product knowledge to the customer
C. The ad causes the consumer to pay attention but does not distract from the intended
message
D. The ad properly reflects the consumer's level of understanding and behaviours with the
product and the brand
E. The right consumer is exposed to the right message at the right place and at the right
time
Choose the correct answer from the options given below:
(a) A, B and E only
(b) C, D and E only
(c) A, B, C and D only
(d) A, C, D and E only

61. The Information Technology Act, 2000 in India provides legal recognition to which of the
following?
A. Electronic books of accounts in banks
B. Electronic commerce
C. Electronic negotiable instrument
D. Electronic signature
E. Electronic sale and conveyance of immovable property
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) B, D and E only
(d) A, B and D only

62. To make the resolution process faster and maximize the realisable value of assets under
Insolvency and Bankruptcy Code (IBC), the Parliamentary Standing Committee has
recommended strengthening India's insolvency resolution ecosystem by
A. A professional code of conduct for the committee of creditors
B. Constitution of specialized National Company Law Tribunals (NCLT) benches to hear
IBC matters

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C. Strengthening the role of resolution professionals
D. Digitising IBC platforms
E. Strengthening and promotion of Asset Reconstruction Companies
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) C, D and E only
(d) A, B, C and Donly

63. In which of the following methods, a contract is said to be discharged by mutual consent?
A. Novation
B. Recission
C. Remission
D. Alteration
E. Accord and Satisfaction
Choose the correct answer from the options given below:
(a) A, B and E only
(b) B, C and D only
(c) A, B, C and Donly
(d) A, B, C, D and E

64. Duties of bailor include

A. Take care of goods
B. Bear extraordinary expenses
C. Return accretion to the goods
D. Indemnify the bailee
E. Disclose known faults
Choose the correct answer from the options given below:
(a) A, B and E only
(b) A, C and D only
(c) B, C and D only
(d) B, D and E only

65. Expenses that are not deductible under Section 58 of the Indian Income Tax Act for
computing the income chargeable under the head "Income From Other Sources":
A. Personal expenses
B. Interest payable outside India on which tax has not been paid or deducted at source
C. Wealth tax
D. Commission for realizing dividend income or interest on securities
E. Expenses which are not of capital nature like repairs, depreciation on plant and
insurance premium
Choose the correct answer from the options given below:
(a) A, B and D only
(b) A, B and C only
(c) A, B, Dand E only
(d) A, B, C, D and E

66. Match List I with List II

List I Name of Theory of List II Description
International Trade
A. Heckscher-Ohlin Theory I. The ability of a nation to produce the goods more
efficiently and effectively than any other country

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B. Country Similarity Theory II. Theory stating that trade occurs between nations
economic, geography and cultural that have similar characteristics such as
characteristics
C. Theory of Mercantilism III. The theory that a nation will export the goods
whose production requires intensive use of the
nation's relatively abundant and cheap factors and
import goods when production requires intensive
use of its scarce and expensive factors
D. Absolute Advantage Theory IV. Theory that aims at accumulating financial
wealth in terms of gold by encouraging exports and
discouraging imports
Choose the correct answer from the options given below:
(a) A - IV, B - III, C-II,D-I
(b) A- IV, B-II, C-I, D-III
(c) A-III, B-II, C-IV, D-I
(d) A-III, B-II, C-I, D-IV

67. Match List I with List II

List I Ind AS List II Topic (Subjects )
A. Ind AS 37 I. Insurance contracts
B. Ind AS 104 II. Inventories
C. Ind AS 2 III. Provisions, Contingent Liabilities and
Contingent Assets
D. Ind AS 19 IV. Employee Benefits
Choose the correct answer from the options given below:
(a) A-III,B-I, C-II, D-IV
(b) A-I, B-II, C-III, D-IV
(c) A -IV,B-III,C-IID - I
(d) A-II, B-III, C-I, D-IV

68. Match List I with List II

List I Cost Concepts List II Description
A. Explicit cost I. Costs that do not require any outlay of money by the
firm
B. Implicit cost II. A cost that has already been committed and cannot be
recovered
C. Total cost III. Costs that require an outlay of money by the firm
D. Sunk cost IV. Market value of all inputs that a firm uses in
production
Choose the correct answer from the options given below:
(a) A-III, BIV, C-I, D - II
(b) A-II, B-IV, C-III, D - I
(c) A-III, BI, C-IV, D-II
(d) A-III, B - IV, C-II, D-I

69. Match List I with List II

List I Type of Bonds List II Description
A. Euro bonds I. Bonds denominated in US dollar and issued in the USA
B. Global bonds II. Bonds denominated in a foreign currency and are
offered for simultaneous placement in different countries
C. Yankee bonds III. When the bonds issued in a foreign country and are

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denominated in a currency other than the currency of the
country where the bonds are issued
D. Samurai bonds IV. Bonds denominated in Japanese Yen and issued in
Japan
Choose the correct answer from the options given below:
(a) A-III, B-II, C-I, D-IV
(b) A-IV, B-III, C-II, D-I
(c) A-III, B-IV, C-I, D-II
(d) A III, B-II, C - IV,D-I

70. Match List I with List II

List I Sampling methods List II Descriptions of situation
A. Multi-stage Sampling. I. Specified number of respondents in best
position to provide the desired information
B. Systematic Sampling II. Heterogenous sub-populations
C. Judgement Sampling III. Widely spread population and random
sampling not possible
D. Stratified Sampling IV. Elements of population arranged in
some order
Choose the correct answer from the options given below:
(a) A - II,B-IV. C3I, D-III
(b) A - III,B-IV, C-I, D-II
(c) A-I, B-II, C-III, D-IV
(d) A - II, B - III, C-I, DIV

71. Match List I with List II

List I Leadership Style List I Description
A. Impoverished management I. Work accomplished is from a committee of people with
interdependence through a common stake in
organizational purpose and with trust and respect
B. Team managers II. Exertion of minimum effort is required to get work
done and to sustain organizational morale
C. Country club management III. Efficiency results from arranging work in such a way
that human elements have little effect
D. Autocratic task managers IV. Thoughtful attention to the needs of people leads to a
friendly and comfortable organizational atmosphere and
work environment
Choose the correct answer from the options given below:
(a) A-I, B-II, C - IV, D - III
(b) A-II, B-I, C-III, D - IV
(c) A-II, B - I, C - IV. D-III
(d) A- IV, B-I, C-III, D-II

72. Match List I with List II

List I Interest rates List II Description
A. Policy Rate I. RBI lending rate to commercial banks without security
B. Repo Rate II. RBI lending rate when commercial banks borrow money by
purchasing securities issued by RBI
C. MCLR III. Internal benchmark rate for financial institutions and banks
D. Bank Rate IV. Rate established by RBI to influence the main monetary

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variables in the economy
Choose the correct answer from the options given below:
(a) A - I, B - IV, C-III, D - II
(b) A - IV, B 3 I, C-III, D - II
(c) A - IV, B - II, C-III, D-I
(d) A-II, B-IV, C-I, D-III

73. Match List I with List II

List I Market Expansion Strategies List II Description
A. Market Penetration I. New products, New markets
B. Market Development II. Existing markets, Existing products
C. Product Development III. Existing products, New markets
D. Diversification IV. Existing markets, New products
Choose the correct answer from the options given below:
(a) A-I, B-II, C-III, D - IV
(b) A-I, B - III, C - II,D - IV
(c) A - II, B - IV, C-I, D - III
(d) A - II, B - III, C - IV,D - I

74. Match List I with List II

List I Insurance contracts List I Presence (time) of insurable interest
A. Marine insurance I. Both at the time of contract as well at the
loss of subject matter
B. Life insurance II. Throughout the contract of insurance
C. Fire insurance III. At the time of loss of the subject matter
D. General insurance IV. At the time of insurance contract
effected
Choose the correct answer from the options given below:
(a) A-IV, B-II, C-III, D-I
(b) A-III, B-IV, C-I, D-II
(c) A-I, B- IV, C-II, D-III
(d) A - III, B-I, C-IV,D3II

75. Match List I with List II

List I Tax deductions List II Relevant Sections
A. Deduction in respect of rent paid II. 80GGC
B. Deduction in respect of contribution II. 80GG
given by company to political parties
C. Deduction in respect of contribution III. 80GGA
given by any person to political parties
D. Deduction in respect of certain IV. 80 GGB
donations for scientific research
Choose the correct answer from the options given below:
(a) A - III, BI, C- IV, D - II
(b) A-IV, B-II, C - III, D - I
(c) A-II, B-III, C - I, D-IV
(d) A - I, B - IV, C-II, D-III

76. In relation to the export from India, arrange the following steps of port procedure and
customs cleareance sequentially:
A. C&F agent present mate's recipt to shipping company

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B. Shipping company issues bill of lading. C&F agent dispatches bill of lading and other
documents to the importer
C. C&F agent receives documents from the exporter, takes delivery of cargo and stores
cargo in warehouse till shipment
D. Master of vessel issues mate's receipt to shed superintendent of port
E. Cargo brought to the port shed for loading
Choose the correct answer from the options given below
(a) C, E, D, B, A
(b) C, E, D, A, B
(c) E, C, D, A, B
(d) C, D, E, A, B

77. The following are contextual auditing with wider intensities

A. Special Audit
B. Internal Audit
C. Internal Check
D. Annual Audit
E. Interim Audit
Choose the correct sequence from the options given below in increasing order of
underlying intensity.
(a) C, B, E, D, A
(b) B, C, D, A,E
(c) A, B, C, D, E
(d) B, C, A, E, D

78. Sequence the following steps in the process of estimating demand equation using
regression analysis.
A. Obtaining data on each variable or its proxy
B. Estimating slope coefficients
C. Model specifications
D. Deciding on the functional form of the demand equation
E. Evaluation of regression results
Choose the correct answer from the options given below
(a) C, A, D, B, E
(b) D, C, B, A, E
(c) A, B, C, D, E
(d) D, A, C, B, E

79. Arrange the following in the logical sequence of the international arbitrage operation.
A. Identify an opportunity
B. Purchase the asset
C. Review the transaction cost
D. Pocket the profit
E. Sell the asset
Choose the correct answer from the options given below
(a) A, C, B, E, D
(b) C, A, D, B, E
(c) B, A, D, E, C
(d) B, D, A, C, E

80. Arrange the following steps in sequence for testing a statistical hypothesis
A. Test statistics

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B. Framing the hypothesis
C. Collecting the sample data
D. Level of significance
E. Obtaining results and taking decisions
Choose the correct answer from the options given below
(a) B, D, C, A, E
(b) C, B, A, D, E
(c) B, C, A, D, E
(d) A, C, B, E, D

81. Arrange the following steps of employee training in the proper sequence:
A. Familiarize the employee with equipment, materials, tools, and trade terms
B. Create interest and find out what the employee already knows about the job
C. Explain why the employee is being trained
D. Place the trainee/employee as close to the normal working position as possible
E. Explain the whole job and relate it to some other job which the employee already knows
Choose the correct answer from the options given below
(a) C, E, B, A, D
(b) C, B, E, D, A
(c) B, E, C, D, A
(d) E, A, C, D, B

82. Risk management process follows the following steps in which logical sequence?
A. Selection of appropriate risk model for analysis
B. Identification of risk variable
C. Determination of frequency and severity of risk
D. Feedback on the risk management process
E. Application of a suitable risk instrument
Choose the correct answer from the options given below
(a) E, A, B, C, D
(b) C, B, A, D, E
(c) B, C, A, E, D
(d) A, C, B, D, E

83. Arrange the following purchases made by a customer as per Maslow's hierarchy of needs
theory starting with the lower order needs.
A. Purchase of House
B. Purchase of an expensive car
C. Taking a club membership
D. Enrolling in a learn-by-yourself course
E. Purchase of bathing soap
Choose the correct answer from the options given below
(a) E, A, B, C, D
(b) A, E, C, B, D
(c) E, A, C, B, D
(d) A, E, B, C, D

84. Arrange the following decision outcomes under the Indian Consumer Protection Act, 1986
in a rising sequence of severity of offences.
A. Removal of defects
B. Impose cost on parties
C. Return of price paid

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D. Discontinuation of unfair practices
E. Compensation to consumer
Choose the correct answer from the options given below
(a) A, B, C, E, D
(b) A, C, E, D, B
(c) C, D, A, B, E
(d) D, E, B, C, A

85. Steps involved in computation of tax on agricultural income in India are followed in which
sequence?
A. Add basic exemption limit to Net agriculture income and calculate tax
B. Deduct rebate u/s 87A from the total income
C. Add Health Cess
D. Add Agricultural and Non-agriculture income and calculate tax on total income
E. Calculate difference of tax in both computations
Choose the correct answer from the options given below
(a) A, D, B, C,E
(b) A, C, D, B, E
(c) A, D, C, E, B
(d) D, A, E, B, C

86. Given below are two statements

Statement I: Thousands of small firms in developing countries have closed their shutters
because of the competition from large MNCs.
Statement II: MNCs have played a significant role in the development of poor countries by
transfer of technology, introducing best management practices and help in improving
productivity.
In light of the above statements, choose the correct answer from the options given below
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

87. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Economic profit is smaller than accounting profit.
Reason R: Accounting profit = Revenue - Explicit costs
Economic Profit = Revenue - Explicit costs - Implicit costs
In light of the above statements, choose the correct answer from the options given below
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is NOT the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

88. Given below are two statements

Statement I: The stage in the manufacturing process where joint products are separately
identifiable is called split-off point.
Statement II: The production costs incurred after the split-off point are called separable
costs.
In light of the above statements, choose the correct answer from the options given below
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false

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(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

89. Given below are two statements

Statement I: Long term capital loss can only be set off against the long term capital gains.
Statement II: Long-term capital gains exceeding Rs one lakh are subject to tax at the rate
of 10% with indexation and at 20% without indexation.
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

90. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: One of the most difficult product to sell is 'life insurance' such that one who
sells life insurance can sell anything under the Sun.
Reason R: What is sought to be marketed in life insurance is an assurance whereby
payment of money is assured upon death or the happening of any contingency depended
upon human life.
In light of the above statements, choose the correct answer from the options given below
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is NOT the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Read the passage below carefully and answer the five questions that follow
The invention of the office - from the Latin opus (work) + facere (do) = officium
(performance of work) -was necessitated by the inability of work to be done remotely. Until
very recently, the prevalent technology was simply not available or very limited to allow
work away from office. If you had to conduct stocktaking, copy documents or engage in a
brainstorming session, one had to be physically close to the tools of work and co-workers.
Even as the technology was becoming increasingly available, it was the forced disruption
of pandemic that finally showed that office, like the stock exchange trading floor, as a
shared physical-only space was no longer essential to carry out work. Today, as Covid
restrictions thankfully recede, the push that had become the shove of working from home
(WFH) is becoming a nudge for working from anywhere (WFA).
Neither can all work be conducted WFA nor to all workers prefer remote working. Several
reasons for the primacy of the "face-to-face' work model are trotted out - 'water-cooler'
engagements; ideas flying 'better' at corporeally attended meeting; company values welded
only under 'one roof, one team' norms. But studies, including pre-pandemic ones
conducted by the likes of Harvard Business School's Prithwiraj Choudhury, have shown
that WFA is a 'win-win for 'Workers, Companies and for Society'. WFA slashes time and
energy expanded in commutes; allows workers the choice of their work surroundings that
may actually improve their quantitative and qualitative output; provides less crowded
space for those who choose offices as their comfort work zone. Most importantly, for
companies, it allows HFA - hiring from anywhere, thereby breaking the talent pool
distance barrier.
The new hybrid work culture is still a work-in progress. Floor managers will have to be
trained to manage a different kind of floor. Company values will need to flourish in a
digital-deeper environment. The idea of work-life balance itself has to be rejigged. But the

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bottomline is work optimisation. For which WFA, without the stress of a pandemic
around, makes damn good pitch.

91. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Work from Anywhere is only possible in case of employees working
independently.
Reason R: Brainstorming sessions are possible in the case of Work from Anywhere.
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

92. Work from Office was preferred because of

A. 'Water cooler' engagements
B. Ideas fly better at corporeally attended meetings
C. Promotes one team norm
D. Improves work-life balance
E. Inability of work to be done remotely
Choose the most appropriate answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) A, B, C and Eonly
(d) A, B and E only

93. Given below are two statements

Statement I: Work from home concept was not initiated in the past because no one had
conceptualised it.
Statement II: It was not possible to Work from home in the past.
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

94. Which one of the following is NOT true for Work from Anywhere?
(a) It reduces time and energy expended in commuting
(b) It increases talent pool distance barrier
(c) It allows an employee to choose his work surroundings
(d) It improves quality and quantity of work output

95. Given below are two statements in relation to the passage:

Statement I: With ease in the stress of the pandemic around, the relevance of Work from
Anywhere will reduce Statement II: For the new hybrid work culture to prevail, companies
will have to invest more in technology
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect

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(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

Read the passage below carefully and answer the five questions that follow
Capital flows, exchange rates and the interest rates are causes of immediate concern to
the national economies. Central banks of various countries have been using a variety of
methods with the excessive capital inflows. Foreign portfolio investment have a direct and
indirect impact on exchange rates, valuation of traded assets and yields of various
government and corporate securities.
RBI, in the post-pandemic scenario and the recent Russia-Ukraine war situation is
working on multiple options to stabilize the exchange rates by protecting both the
exporters and importers. One way which RBI adopts to maintain a desirable level of
exchanges rates is to mop up nets foreign exchange assets from scheduled commercial
banks in exchanges of domestic currency (₹) assets. The liquidity flows are in essence,
inflationary. RBI has projected a comfortable GDP rate for the current fiscal and believes a
reasonable level of CPI inflation as 5.3%.
The retail inflation, according to the RBI governor, recently is likely to be 4.5% in 2023
fiscal. With this perspective, the repo rate and reverse repo rate remain at 4% and 3.35%,
respectively, since May 22, 2020. A balancing act between economic growth and inflation
is visible. Though the RBI rates are consistent, the burden on borrowers for the short-
term and long- term, is still unpredictable.

96. The primary purpose of the monetary policy of RBI is to maintain

(a) Wealth
(b) Exchange Rate Volatility
(c) Income Equality
(d) Stability of prices

97. The stance of a monetary policy wherein the interest rates may move either way, upwards
or downwards, is called
(a) Accommodative stance
(b) Neutral stance
(c) Calibrated stance
(d) Hawkish stance

98. An increase in investment is most likely to be caused by

(a) Decrease in marginal propensity to consume
(b) Expectations of lower GDP
(c) Lowering of interest rates
(d) Writing-off of Non-performing Assets

99. Quantitative easing by the Central bank implies

(a) Selling of assets by the Central bank
(b) Lowering of interest rates for commercial bank lending
(c) Purchase of assets by the Central bank
(d) Central bank reducing the policy rate

100. Changes in foreign portfolio investments is directly related to

(a) Money demanded
(b) Exchange rates
(c) Prices
(d) Circulation of money

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

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UGC NET COMMERCE PAPER 2 DECEMBER 2023
1. The trademarks can be broadly classified into which of the following categories?
A. Descriptive
B. Normative
C. Generic
D. Explanatory
E. Invented
Choose the most appropriate answer from the option given below.
(a) A, B and D Only
(b) D E and C Only
(c) B C and E Only
(d) C. A and E Only

2. Which of the following frameworks is considered as the Open international Standard for
Digital Bininess Reporting?
(a) CSR reporting
(b) TBL neporting
(c) XURI, reporting
(d) PPP raporting

3. Which of the following are constituents of the trilemma of international finance?

A. Fixed exchange rate
B. Independent monetary policy
C. Free mobility of capital
D. Global recessionary tendency
E Rising inflationary conditions
Choose the correct answer from the options given below:
(a) A B and C Only
(b) C, D and E Only
(c) B. C and E Only
(d) A, C and D Only

4. For Forigen Direct Investment, it is argued that a location in question attracts FDI
because it combines the unique advantage of which of the following conditions?
A. Internalisation Advantage
B. First Mover Advantage
C. Knowledge Advantage
D. Ownership Advantage
E. Location Advantage
Choose the correct answer from the options given below:
(a) E, A and C Only
(b) E, A and D Only
(c) C, B and D Only
(d) C, E and D Only

5. Match List I with List II

List I Description identifiers List II Research design
A. The time dimension I. Exploratory study
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B. The purpose of the study II. Statistical study
C. The topical scope of the study III. Descriptive study
D. The degree to which the research IV. Cross-sectional study
question has been crystallized
Chose the correct answer from the option given below:
(a) A-I, B-II, C-III, D-IV
(b) A-III, B-1, C-IV, D-II
(c) A-IV, B-III, C-II, D-I
(d) A-II, B-IV, C-1, D-III

6. Match List I with List II

List I Types of Effect List II Description
A. Veblen effect I. Conspicuous consumption
B. Snob effect II. Reduction in relative price of commodity
C. Bandwagon effect III. Negative network externality
D. Substitution effect IV. Positive network externality
Chose the correct answer from the option given below:
(a) A-I, B-II, C- III, D- IV
(b) A-IV, B-III, C-II, D-I
(c) A-II, B-III, C-IV, D-I
(d) A-I, B-III, C-IV, D-II

7. Given below are two statements one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A. A promoter, invariably is the one who has been associated with formation of
the company
Reason R A promoter is the one who undertakes to form a company with reference to a
given object and who takes the necessary steps to accomplish that purpose
In the light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

8. Honeywell Inc's move from a hierarchical management structure to a much flatter and
team-based structure is a good description of which one of the following?
(a) Contralisation
(b) Decentralisation
(c) Span of control
(d) Work specialization

9. Arrange the following steps of a well planned experiment in the sequential order.
A. Specify the treatment levels
B. Assign subject to groups and conduct pilot test
C. Choose an experimental design suited to the hypotheses
D. Control the environmental and extraneous factors
E. Select relevant variables for testing
Choose the correct answer from the option given below.
(a) C, D, E, A, B
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(b) A, C, D, E, B
(c) E, A, D, C, B
(d) D, C, B, A, E

10. Match List I with List II

List I Assets Transferred List II Exemptions of capital gains Sections
54-54 EC Income Tax Act
A. Agricultural Land I. Section 54 B
B. Residential House II. Section 54 EC
C. Land or Building or Both III. Section 54 D
D. Land and Building forming part of an IV. Section 54
industrial undertaking
Chose the correct answer from the option given below:
(a) A-III, B-II, C-I, D- IV
(b) A-1, B- IV, C-II, D-III
(c) A-IV, B-III, C- I, D- II
(d) A-III, B-I, C-IV, D-II

11. Which of the following are relavant in technological innovations?

A. Most innovations are incremental
B. Most innovations involve the commercial utilization of ideas
C. Innovations cannot be explained with isoquants
D. Introduction of innovations is not stimulated by strong domestic rivalry and geographic
concentrations
E. The risk in introducing innovations is usually high
Choose the correct answer from the options given below:
(a) B, D and E only
(b) A, C and E only
(c) A, B and E only
(d) A, B and C only

12. Which of the following are considered as the limitations of Cost-Volume-Profit analysis?
A. Constant selling price regardless of sales volume
B. Firm efficiency and productivity are constant and the costs are linear
C. Margin of safety is constant at varied levels of sales
D. Sales mix and the inventory levels are constant
E. Profit is constant at varied levels of sales price
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) C, D and E only
(d) A, B and D only

13. When a target company makes a counter bid for the stock of the bidder, the defensive
strategy in reference is called?
(a) Greenmail
(b) Poison pill
(c) Pacman defense
(d) Golden parachute

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14. Which one of the following is an exception to the doctrine of Constructive Notice.
(a) Doctrine of Subrogation
(b) Doctrine of Ultra Vires
(c) Corporate Veil
(d) Turquand Rule

15. Given below are two statements: one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A Persons with high self-esteem are less susceptible to influence, more
confident of achieving goals and more effective in social networking
Reason R: Self-esteem manifests in several behaviours. Persons with high self-esteem tend
to report fewer negative emotions than persons with low self-esteem
In the light of the above statements, choose the most appropriate answer from the options
given below.
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R arc truc but R is NOT the correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true

16. Which of the following are objectives of Immediate Payment Service (IMPS)?
A. To enable bank clients to use mobile instruments as a channel for accessing their bank
accounts and remit funds
B. To build the foundation for a full range of mobile based banking services.
C. To sub-serve the goal of Reserve Bank of India (RBI) in digital payments.
D. To make payments simpler with the mobile number of the baneficiary
E. To restrain a nation-wide payment system facilitating one-to-one funds transfer
Choose the most appropriate answer from the option given below:
(a) A, C, D and E Only
(b) A, B, C and D Only
(c) B, C, D and E Only
(d) B, A, E and D Only

17. Which one of the following statements does not support the concept of third degree price
discrimination?
(a) The firm must have monopoly power
(b) This type of price discrimination is most likely to occur in the manufacturing
industries
(c) The firm must be able to keep the two markets separate
(d) The price elasticity and demand for the commodity must be different in the two
markets

18. Arrange the following in the ascending order of applicable TDS (Tax deducted at source)
rates for the Financial Year, 2023-2(d)
A. Payment of Rs. 6,55,000 rent by an individual in a year
B. Payment of Rs 20,000 on winnings from horse races
C. Payment of Rs 8,000 as dividend by cheque
D. Payment of Rs. 35,000 to an individual contractor for repair by a university
E. Payment of Rs 38,000 as fees for professional and technical services by a call center
Choose the correct answer from the option given below:

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(a) A, B, C, D, E
(b) D, E, A, C, B
(c) E, D, C, B, A
(d) A, E, C, D, B

19. _______is a marketing term for any design to prompt an immediate response or encourage
an immediate sale.
(a) Call for Promotion
(b) Call for Activity
(c) Call to Action
(d) Call to Aspiration

20. Arrange the following steps in the investigation process of combinations by the
Competition Commission of India in the correct order.
A. Call for a report from the Director General
B. Invite any person, affected parties to file written objections
C. Direct the partics of combination to publish details of the combination
D. Call for additional information from the parties of the combination
E. Issue a notice for show-cause to the parties of the combination
Choose the correct answer from the option given below:
(a) A, B, C, D, E
(b) E, A, C, B, D
(c) B, A, C, D, E
(d) C, A, D, E, B

21. Which one of the following instruments is often used to protect the value of a foreign
currency denominated transaction?
(a) Forward contract
(b) Forward swap
(c) Forward hedge
(d) Forward premium

22. Match List I with List II

List I Features List II Remedies for breach of contract
A. Breach of promise to marry I. Suit for injuction
B. Part performance (as much as earned) II. Rescission of contract
C. Absolvation from all obligations III. Sue for quantum meruit
D. Mode of securing the specific IV. Vindictive damage
performance of negative terms of contract
Chose the correct answer from the option given below:
(a) A-IV, B- III, C-II, D-I
(b) A-I, B-II, C-III, D- IV
(c) A-III, B- IV, C-I, D-II
(d) A-II, B-I, C-IV, D-III

23. Emotional appeal is one of the types of advertising appeals, based on three ideas, namely
A. Rational appeals generally go unnoticed
B. Consumers watch all ads
C. It can capture attention and foster an attachment
D. Consumers ignore most ads
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E. Rational appeal generally gets noticed
Choose the correct answer from the options given below
(a) C, E, and D Only
(b) C, E and B Only
(c) C, A and D Only
(d) C, A and B Only

24. Mr. X is holding equity shares of ABC Ltd with voting power of 26 per cent. Mrs. X is
working in ABC Ltd at a salary of Rs. 20,000 p.m. The other income of Mr. X and Mrs. X
arc Rs. 6,00,000 and Rs. 3,00,000, respectively. The gross total income of Mr. X and Mrs.
X arc__________ respectively for the Assesment Year 2023-2(d)
(a) Rs. 6,00,000 and Rs. 5,40,000
(b) Rs. 7,90,000 and Rs. 3,00,000
(c) Rs. 5,00,000 and Rs. 4,90.000
(d) Rs. 8,40,000 and Rs. 3,00,000

25. Arrange the following SBI-sponsored RRBs in an increasing order of their existence since
formation.
A. Rajasthan Marudhara Gramin Bank
B. Telangana Gramin Bank
C. Sausashtra Gramin Bank
D. Madhyanchal Gramin Bank
E. Arunachal Pradesh Rural Bank
Choose the correct answer from the option given below:
(a) A, D, B, E, C
(b) C, E, D, A, B
(c) B, A, C, E, D
(d) D, E, A, B, C

26. Match List I with List II

List I Management Thinkers List II Approach Dimensions
A. Kurt Lewin I. Position power, Task structure, Leader
member relations
B. Fred E Fiedler II. Authority and Responsibility, Unity of
command, Scalar chain
C. Henri Fayol III. Power, Affiliation, Achievement
D. David C. McClelland IV. Unfreezing, Moving, Refreezing
Chose the correct answer from the option given below:
(a) A-I, B-II, C-III, D- IV
(b) A- IV, B-I, C-II, D-III
(c) A-IV, B- III, C-I, D-II
(d) A-II, B- IV, C-III, D-I

27. Which of following are pre-experimental designs?

A. One-group pre test-post test
B. Pre-test post-test control group
C. Quasi-experiments
D. Static group comparison
E. After-only study
Choose the correct answer from the options given below:
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(a) D, B, C Only
(b) A, D, E Only
(c) A, C, E Only
(d) E, B, D Only

28. The exporting firm is termed rider' where the other firm with an established distribution
channel in the largel country is termed as 'Carrier'. This phenomenon is known as:
(a) Counter Trado
(b) Barter
(c) Piggy Backing
(d) Switch Trading

29. takes into account a host of inputs, such as buyer's image of the product performance,
the channel deliverables, the warranty quality, customer support and sofler altribules
such as the suppliers reputation, trust worthiness and esteem
(a) Target rate-of-return pricing
(b) Auction type pricing
(c) Economic-valuc-to-customer pricing
(d) Competitive pricing

30. Which of the following factors are attributed to the weakening of Indian rupee?
A. Rupee payment for international trade
B. Rising cost of imports
C. Widening trade deficit
D. Opening of Rupee vostro accounts
E. Rupee UPI payments for overseas transactions
Choose the most appropriate answer from the options given below:
(a) A, B and C Only
(b) C, D and E Only
(c) A, D and E Only
(d) B, C and D Only

31. Arrange the following rounds for multilateral trade negotiations under GATT/WTO in a
chronological order.
A. Kennedy
B. Doha
C. Annecy
D. Torquay
E. Tokyo
Chose the correct answer from the option given below:
(a) C, D, A, E, B
(b) D, C, E, A, B
(c) B, A, E, C, D
(d) B, E, A, D, C

32. Statement I: For a given sample size and level of significance (a), the critical value of
Student's t always exceeds that of z
Statement II: For a given level of significance (a), the critical value of Student's t increases
as n increases.

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In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

33. Luxmi industries issued shares of Rs 1000 at a premium of Rs 10 per share, payable Rs
20 on application. Rs. 35 on allotment (including premium) and the balance on the first
and final call. Mr. X who held 200 shares has paid only the application money and these
shares were subsequently forfeited by the company. In this regard, by which amount
share forfeiture account will be credited?
(a) Rs. 4000
(b) Rs. 2000
(c) Rs. 3000
(d) Rs. 200

34. Which of the following ratios are critically significant for an investor
A. Debt-Equity ratio
B. Price-Earning ratio
C. Dividend yield
D. Asset turnover ratio
E. Debtor turnover ratio
Choose the correct answer from the options given below:
(a) A, B and C Only
(b) D and E Only
(c) B, C and D Only
(d) A, D and E Only

35. In order to conduct exploratory data analysis, which of following are used by a researcher
in the five number summa
A. Median
B. First quartile
C. Mean
D. Third quartile
E. Smallest and largest values
Choose the correct answer from the options given below:
(a) A, C, D and E Only
(b) A, B, D, and E Only
(c) B, C, D and E Only
(d) A, B, C and E Only

36. Which one of the following is the allowable deduction as per the Income Tax Act, 1961 in
respect of entertainment allowance paid to a government employee?
(a) Lower of one-fourth of basic salary or Rs. 5000 or entertainment allowance received.
(b) Lower of one-fifth of basic salary or Rs. 5000 or entertainment allowance received
(c) Lower of one-fifth of salary or Rs. 5000 or entertainment allowance received.
(d) Lower of one-fourth of salary or Rs. 5000 or entertainment allowance received.

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37. Which of the following will be clubbed into the income of Mr. Q whose Income from
Profession is Rs. 85,000?
A. Income from Mrs. Q's profession, Rs. 45,000
B. Mrs. Q's salary as a clerk, Rs. 66,000
C. Minor son's earned interest on deposits of money gifted to him by his uncle, Rs. 15,000
D. Minor daughter's earnings from sports, Rs 85,000
E. Minor son's winnings from lottery, Rs 1,05,000
Choose the correct answer from the options given below:
(a) A, C, D and E Only
(b) C, D and E Only
(c) C and D Only
(d) C and E Only

38. Arrange the following group member's behavior outcomes in a sequence as per the
successive stages of group building process.
A. Eager, Anxious, Gather data about similarities and differences among members and
keep things simple
B. Upsot and Depressed
C Less dissatisfied and a feeling of belongings to the group
D. Confront the differences, feel angry or frustrated, lot of competition and hostilities.
E. Inter dependence in personal relations, tendency to get involved in and problem solving
Choose the correct answer from the option given below:
(a) A, D, C, E, B
(b) A, B, C, D, E
(c) E, C, D, B, A
(d) B, C, E, A, D

39. Which of the following managerial actions are followed to reduce resistance to change?
A. Education and communication are strong tools for resistance to change
B. Allows participation to those who oppose a change to participate in decision making
C. Negotiation may become vital when resistance comes from a powerful source
D. Employee counseling does not serve the purpose
E. Coercion can be used to get support easily
Choose the correct answer from the options given below:
(a) A, B and C Only
(b) B, C and D Only
(c) B, C and E Only
(d) A, C and D Only

40. A charitable trust (registered under section 12 AB of the Income Tax Act) is registered
under GST in New Delhi. It provided yoga training to middle aged people, coaching for
Basket ball to teenagers and skill development services to persons over the age of 65 years
residing in New Delhi in the month of July. This trust is liable to pay CST on:
(a) Yoga training
(b) Skill-development services
(c) Coaching for basket-ball
(d) Coaching for basket-ball and Yoga training

41. Which one of the following is invalid for the relationship among the agent, the sub-agent
and the principal?
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(a) Sub-agent works under the control and on the directions of the agent
(b) Sub-agent is responsible to the agent only
(c) Privity of contract exists between the principle and the sub-agent
(d) Agent is responsible to the principle for the acts of the sub-agent

42. Which one of the following statements is the most relevant to the substitution effect?
(a) In the real world, substitution effect is much larger than the income effect
(b) Most of the goods are not reasonable substitutes
(c) In reality, the income effect represents its predominance over the substitution effect
(d) Substitution and income effects cannot be separated easily

43. Effective mentoring requires trust and the level of trust reflects the mentor's:
(a) Competence, consistency, communication abilities and control sharing readiness
(b) Concerned, cooperativeness, communication abilities and coordination skills
(c) Competence, consistency, complexity and communication abilities
(d) Communication abilities, competence, concerned behaviour, control sharing readiness

44. The concept of product life cycle is based on which of the following key assumptions?
A. Profits remain stable at different stages of product life cycle
B. Products have an unlimited life
C. Product sales pass through distinct stages, each posing different challenges,
opportunites and problems to the seller
D. Products require different marketing, financial, manufacturing, purchasing and human
resource strategies in each of the life cycle stages
E. Products have a limited life
Choose the most appropriate answer from the option given below:
(a) B, C and D Only
(b) A, B and C Only
(c) A, C and D Only
(d) C, D and E Only

45. Which of the following are deemed to be dividend for the purpose of computing income
chargable under the head, Income from other sources, as per the Income Tax Act, 1961?
A Payment on buy-back of shares
B. Payment to shareholders on reduction of capital
C. Distribution of debentures to shareholders
D. Loan granted to shareholders in the ordinary course of business
E. Loan granted to shareholders by a closely held company
Choose the correct answer from the options given below:
(a) B and C Only
(b) B, C and E Only
(c) A, B and C Only
(d) A and C Only

46. Place the following service differentiators in a logical sequence:

A. Speed and timing of delivery
B. Maintenance and repair
C. Returns
D. Installation, training and consulting

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E. Ease of ordering
Choose the correct answer from the option given below:
(a) E, D, B, C, A
(b) E, A, D, B, C
(c) E, D, A, C, B
(d) E, C, A, B, D

47. Which one of the following beliefs and behaviors does not characterise 'collectivism"?
(a) Relations are moral not contractual
(b) Relations take precedence over tasks
(c) Individual opinions are independent of collective opinions
(d) Maintaining harmony is highly valued
48. In one-factor ANOVA, the computed F-value will be negative:
(a) when there is no difference in the treatment of means.
(b) when there is no difference within treatments.
(c) when SST (total variance) is larger than SSE (error variance)
(d) under no circumstances

49. Given below are two statements:

Statement I: The ordinary treasury bills that are marketable and have a secondary market
are issued to the public and financial institutions Statement II Ad hoc treasury bills are
issued only in favour of the Reserve Bank of India which is authorized to issue currency
noles against them.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are truc
(b) Both Statement I and Statement il are false
(c) Statement is true but Statement II is false
(d) Statement is false but Statement II is true

50. Which are the states where every supplier of goods and/or services is required to obtain
registration if his aggregate turnover exceeds the threshold limit of Rs. 20 lakh for supply
of goods and/or services?
A. Arunachal Pradesh
B. Meghalaya
C Manipur
D. Mizoram
C. Sikkim
Choose the most appropriate answer from the option given below
(a) B, C and A Only
(b) C, D and E Only
(c) E, B and A Only
(d) A, B and D Only

51. SAFTA (South Asian Free Trade Agreement) categorises member nations as Non-Least
Developed Contracting States (NLDCS) and Least Developed Contracting States (LDCS).
Identify the NLDSC states from the following
A. Bangladesh
B. Pakistan
C. Bhutan
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D India
E. Sri Lanka
Choose the correct answer from the options given below:
(a) A, B and D Only
(b) A, C and E Only
(c) C. A and D Only
(d) E, D and B Only

52. Which one of the following committees has suggested the establishment of NBFCs'
regulatory framework?
(a) Raj Study Group (1975)
(b) Chakkravarty Committee (1985)
(c) Vaghul Committee (1987)
(d) Shah Committee (1992)

53. Which of the following are considered while avoiding conflict?

A. Conflict based on interpersonal relationships
B. All conflicts are not bad and can be taken positively
C. Conflict over content and goals of the work
D. Conflicts do not support a group's goal and improve its performance
E. Conflict over how work gets done
Choose the correct answer from the options given below:
(a) A, B and C Only
(b) A, B and E Only
(c) A, C and E Only
(d) B, C and D Only

54. Given below are two statements: one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Consumes may prefer to choose the channels based on their own shopping
goals as well as price, product assortment and convenience.
Reason R: Some consumers are unwilling to "trace-up" to retailers offering higher-end
goods, and "trade down" to discount retailers for private- label
In the light of the above statements, choose the most appropriate answer from the options
given below.
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A.
(c) A is correct but R is not correct.
(d) A is not correct but R is correct

55. In case of anti-competitive activities by a firm, the Competition Commission of India can
impose a penalty which shall be not more than
(a) Five percent of the average turnover/income of the firm of the three preceding financial
years.
(b) Ten percent of the average turnover/income of firm of the three preceding financial
years
(c) Fifteen percent of the average turnover/income of firm of the three preceding financial
years
4 Five percent of the average turnover/income of firm of the five preceding financial years

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56. The sequential stages of moral development in business organisations are characterised
by:
(a) Conceptualised disposition, consistency and harmony, principled oriented
(b) Consistency and harmony, conceptualised disposition, principled oriented
(c) Principled oriented, conventional and preconventional
(d) Preconventional, conventional, principled oriented

57. _______as defined under the Foreign Trade Policy (FTP), implemented by Director General
of Foreign Trade has the main aim to "mentor new and potential exporters on the
intricacies of foreign trade through counselling, training and outreach programmes so
that they can get into international trade.
(a) Niryat Dharat Scheme
(b) Niryat Dandhu Scheme
(c) Niryat Denefit Scheme
(d) Niryat Dorder Scheme

58. Sequentially arrange the following impacts of the evolving global monetary system on the
economies.
A. Protectionism and nationalism
B. Capital flows driving economic development
C. Increased world trade with limited capital flows
D. Expanded open economies
E. Industrial economies increasingly open and emerging nations open slowly
Choose the correct answer from the option given below:
(a) B, D, A, C, E
(b) C, A, D, E, B
(c) C, E, D, A, B
(d) E, B, D, A, C

59. Match List I with List II

List I Asset classes List II Type of Investments
A. Asset Class A I. Equity shares of companies traded in futures and options
segmenets
B. Asset Class C II. Government securities and state development loans
C. Asset Class E III. Alternate Assests
D. Asset Class G IV. Corporate bonds/debentures which are listed and rated not
below A
Chose the correct answer from the option given below:
(a) A-I, B- IV, C-II, D-III
(b) A- III, B-II, C-IV, D-I
(c) A-III, B- IV, C-I, D-II
(d) A-1, B-III, C-II, D- IV

60. By reducing the sales price from Rs. 00 per unit to Rs. 78 per unit, the sales manager has
succeeded in selling 1000 units more of a product. Which of the following decisive
conclusions can be drawn from this?
A. Sales price variance is unfavourable
B. Sales volume variance is favourable
C. Total sales varianco is unfavourablc

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D. Sales activity variance is Rs. 80000 (favourable)
C. Sales price variance is Rs. 2000 (unfavourable)
Choose the correct answer from the options given below
(a) A, B and C Only
(b) C, D and E Only
(c) A, B and D Only
(d) B, D and E Only

61. In a certain population, 22% of people are smokers, 57% of people are males and 12%
males are smokers. If a person is chosen at random from The population, what is that
probality that selected person is either a male or a smoker?
(a) 0.79
(b) 0.22
(c) 0.45
(d) 0.67

62. In International Commercial Terms (INCOTERMES), identity the one, under which the
delivery of goods to the named place of destination (discharge) takes place at the seller's
expense. Buyers assumes the cargo insurance, import custom clearance, payment of
custom duties, taxes and other costs and risk.
(a) Carriage and Insurance Paid lo (CIP)
(b) Cost, Insurance and Freight (CIF)
(c) Carriage Paid lc (CPI)
(d) Cost and Freight (CFR)

63. Which one of the following digital payment systems is developed and managed by the
National Payments Corporation of India?
(a) Paytm
(b) BharatPe
(c) Mastercard
(d) RuPay

64. Arrange the steps in the book building process for public issue of shares in India.
A. Determine issue price, market clearing price and price discovery
B. Book runner and syndicate members generate awareness, create demand and run the
order book
C. Appointment of the merchant banker and syndicate members (SEBI registerd
intermediaries) as underwriters
D. Preparation and filing of red herring propectus with the SEBI for approval
E. Allotment and listing of shares on stock exchange (s)
Chose the correct answer from the option given below:
(a) C, D, B, A, E
(b) D, C, A, B, E
(c) A, B, C, D, E
(d) B, C, D, E, A

65. Which one of the following concepts measures the amount of capital that the firm can give
up by using onc additional unit of labour and still remain on the same isoquant?
(a) Diminishing Marginal Rate of Substitution
2 Fconomit: Trade-off Region.
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(c) Diminishing Marginal Rate of Technical Substitution
(d) Diminishing Marginal Utility

66. Match List I with List II

List I Concepts (Targeting) List II Definition
A. Target Compatibility I. Reflects the ability of a market segment to
create superior value for the company
B. Tactical Targeting II. A reflection of the company's ability, to
create superior customer value
C. Target Attractiveness III. Focuses on customising company's
offerings according to the customers' needs
D. Strategic Targeting IV. Ways in which the company can reach
strategically important customers
Chose the correct answer from the option given below:
(a) A-I, B-II, C-III, D- IV
(b) A-II, B-IV, C-I, D-III
(c) A-II, B-III, C-I, D- IV
(d) A-IV, B-III, C-II, D-I

67. When a country's currency is accepted as a reserve currency, the potential conflict may
arise between which of following policy objectives?
A. Domostic monotary policy
B. Domestic fiscal policy
C. External currency policy
D. Foreign trade policy
E. Inland trade policy
Choose the correct answer from the options given below.
(a) A, B, and C Only
(b) A, C and D Only
(c) B, D and E Only
(d) C, D and E Only

68. Which one of the following are disposed to promote financial inclusion?
(a) Poor quality of services rendered
(b) High transaction costs
(c) Universal access to financial services
(d) Lack of trust in the system

69. Which one of the following consists of physical working conditions, work schedule,
incentives and the number of people with whom the employee would normally intract?
(a) Job profile
(b) Job content
(c) Job context
(d) Job specification

70. Which one of the following accounting concepts and conventions consider it reasonable to
use the historical cost to record long-lived assets?
(a) The entity concept
(b) Going concern convention
(c) Materiality convention
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(d) The periodicity convention

71. Which of the following are functions of the Reserve Bank of India?
A. Bank of issue
B. Banker's bank and lender of the last resort
C. Regulator of fiscal policy
D. Controller of credit
E. Custodian of foreign exchange reserves
Choose the most appropriate answer from the option given below:
(a) A, B, C and D Only
(b) A, B, D and E Only
(c) B, C, D and E Only
(d) A, B and D Only

72. Which of the following theories of capital structure articulates that a firm borrows up to
the point where the lax benefit from extra debl is exactly equal to the cost that comes from
the increased probability of financial distress?
(a) The static theory
(b) Net income approach
(c) Modigliani-Miller theory
4 Nel operating income approach

73. Which of the following are relevant in deciding among different courses of action, the
manager needs to consider the differential revenue and costs of alternatives?
A. Opportunity costs and economic profils
B. Fixed and Sunk Costs
C. Marginal Revenue and Marginal Cost
D. Incremental and marginal costs
C. Economies and dis-economies of scale
Choose the correct answer from the options given below
(a) A and D Only
(b) B and C Only
(c) D and E Only
(d) A and B Only

74. Which of the following are the reasons for substitution between domestic and MNC goods?
A. Increased knowledge of foreign products due to international information revolution
B. No need to conduct advertising campaigns
C. Transportation costs having fallen to very low levels for most products
D. Restricted international travel
E. Tastes are consistent at the global level
Choose the correct answer from the options given below:
(a) A and C Only
(b) D and E Only
(c) C and D Only
(d) A and B Only

75. Match List I with List II

List I Bond rates and risk List II Description

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A. Coupon rate I. The interest rate required in the market
on a bond
B. Yield to maturity II. It is obtained by dividing annual coupon
(stated interest payment) by the bond price
C. Interest rate risk III. It germinates and originates from
fluctuating interest rates
D. Current (bond) yield IV. The annual coupon (stated interest
payment) divided by the face value of a
bond
Chose the correct answer from the option given below:
(a) A-IV, B-I, C-III, D-II
(b) A-II, B- III, C-I, D- IV
(c) A-III, B-II, C-IV, D-I
(d) A-I, B- III, C-II, D- IV

76. The earning per share for Avanti corporation is Rs 40 The rate of return on investments is
16 per cent and the return required by ils shareholders is 12 percent. What will be the
price per share as per the Waller model, if the payout ratio is 40 per cent?
(a) Rs 21
(b) Rs 36
(c) Rs 40
(d) Rs 72

77. Match list I with List II

List I Activity Based Cost Centers List II Costs incurred and accounted for
A. Unit-level activity center I. Patent, trademark and copyright fees
B. Batch level activity center II. Direct material and labour costs
C. Product level activity center III. Plant depreciation and maintenance
expenses
D. Facility level activity center IV. Material handling costs
Chose the correct answer from the option given below:
(a) A-II, B- IV, C-I, D-III
(b) A-II, B- IV, C-III, D-I
(c) A-I, B-III, C-II, D- IV
(d) A- III, B-I, C- IV, D-II

78. A discrete probability distribution_

(a) is a listing of all possible values of the random variable
(b) assigns a probability to each possible value of the random variable
(c) can assume the value between -1 and +1
(d) is independent of the parameters of the distribution

79. Match List I with List II

List I Nature of Business Activity List II FDI Permitted under Automatic
Route
A. Trading in Transferable Development I. 49%
Rights (TDR)
B. Multi-Brand Retail Trading II. Prohibited
C. Satellite (Establishment and Operations) III. 51%
D. Petroleum Refining (by PSUs) IV. 100%

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Chose the correct answer from the option given below:
(a) A- IV, B-II, C-III, D-I
(b) A-II, B-III, C-IV, D-I
(c) A-1, B-III, C-II, D- IV
(d) A- IV, B- II, C-I, D-III

80. Which amongst the following methods is not a method of generating sales leads in
personal selling?
(a) Referrals
(b) Networking
(c) Coupons
(d) Cold calls

81. Identify the source of oligopoly which is also applicable to monopoly firms:
(a) Economies of scale may operate over a small range of outputs
(b) Huge capital investments and specialized inputs are required to enter the market
(c) Large firms may own a patent for the exclusive right to produce a commodity
(d) New firms have chances to win customer loyalty

82. Which of the following can become the member of an LLP?

A. Resident Indians
B. Limited Liability Partnership
C. Corporation Sole
D. Co-operative society
E. Companies (including foreign companies)
Choose the most appropriate answer from the option given below:
(a) A, B and C Only
(b) A, C and D Only
(c) A, B and D Only
(d) A, E and B Only

83. Arrange the following in a sequence with regard to price leadership sustainability:
A. Small firms in the industry are allowed to sell all they want at that price
B. Dominant firm acts as the residual supplier of the commodity
C. The dominant firm sets the price for the commodity that maximizes its profits
D. Small firms in the industry behave as price takers
E. Dominant firm then comes into fill the market
Chose the correct answer from the option given below:
(a) A, B, C, D, E
(b) E, D, C, B, A
(c) A, C, B, D, E
(d) C, A, E, B, D

84. Channel power is the ability to alter channel members' behaviour so that they take
actions they would not have taken otherwise. From the following channel powers, list the
ones which are subjective in nature:
A. Legal Power
B. Coercive Power
C. Expert Power

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D. Referent Power
E. Reward Power
Choose the correct answer from the options given below:
(a) D, A and C Only
(b) D, A and B Only
(c) A, B and E Only
(d) A, C and E Only

Q.135
85. Every seller who receives an amount exceeding______as consideration for sale of a motor
vehicle, shall collect tax @ 1% of the sale consideration from the buyer al the time of
receipt of such an amount
(a) Rs. 25 lakhs
(b) Rs. 15 lakhs
(c) Rs. 10 lakhs
(d) Rs. 50 lakhs

86. In which ratio, will the remaining partners compensate the retiring partner for a share of
goodwill?
(a) Profit-sharing ratio
(b) Sacrificing ratio
(c) Gaining ratio
(d) Capital ratio

87. Companies use________when they lack financial resources to carry out direct marketing
and when they can earn more by doing so.
(a) Intermediaries
(b) Internationalisation
(c) Influencers
(d) Innovation

88. As per the sub-section (OA) of Section 139 of the Income Tax Act, a person may furnish an
updated return of his income for the previous year relevant to such assessment year,
within
(a) 6 months
(b) 12 months
(c) 24 months
(d) 36 months

89. The present value of future profits, the individual or segment will generate over a lifetime
relationship with a brand or firm, is known as
(a) Lifelong Value
(b) Lifetime Value
(c) Longlife Value
(d) Longtorm valuc

90. The price carnings ratio for firms in a certain industry follows the normal distribution. A
firm's price-carnings ratio has a standardized value (4) = 1.0 and it is included in the
highest of firms in the industry.
(a) 99.73%
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(b) 68.27%
(c) 15.87%
(d)3(d)13%

Read the given passage and answer the questions that follow:
For most of its existence as a modern field of study since the 18th century, economics has
fared reasonably well at explaining consumer and producer behavior. It explained why
buyers choose the products they do, how firms produce them to maximize profit, and how
markets discover the most officient prices. This changed with the Great Depression, when
aggregato variables came into play that needed a better understanding than an
assumption that markets return to equilibrium after shocks. Thus came into existence
macroeconomics, the most dismal aspect of the dismal science. Economics has since
diversified into quite a few other branches, such as those employing statistics and
psychology, but most of its disrepute originates from its failure to predict financial crises.
'Macro' by its very nature dealing with GDP, employment, inflation and other important
but soporific matters and parameters is headline grabbing stuff. Governments come into
play here, as do international relations. Yet, macro eludes the scientific method of testing
hypotheses with repeated experiments: one can't conceivably wreck an economy to
establish the effects of a shock. Instead, macroeconomists can only back-test their models
against data that may be of questionable provenance. This makes prediction of the next
stock market crash forever embarrassingly less exact than the return of Halley's Comet
Microeconomics, the reputable part of the endeavor, suffers from fewer limitations to
controlled parameter experiments and delivers less equivocal insights. I he explosion of
commerce in the modern world owes itselt in no small measure to predicting actions by
the smallest economic agents: humans. Here, too, heroic assumptions are made, the
foremost being that human beings are rational and information is free. The crisis in
economic modelling arises from aggregating billions of micro truths into one macro truth
Models are improving, so are quantitative capabilitics and the qualitative judgements that
drive macro policy will become more refined.

91. Given below are two statements:

Statement I: Macroeconomists can only back-test their models against data that may be of
questionable provenance. Statement II: Macroeconomic variables elude the scientific
method of testing hypotheses with repeated experiments. In the light of the above
statements, choose the most appropriate answer from the options given below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

92. Which of the following is the reason, as per the passage, for driving more effective macro
policies?
(a) Assumption that markets return to equilibrium after shocks
(b) Improved economic models are capable to understand qualitative and quantitative
factors
(c) Economics has fared reasonably well during financial crises
(d) Every small measure is not capable to predict economic outcomes

93. Which of the following, as per the passage, are the major contribution of economics?

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A. Buyers behavior towards the products
B. Firm's behaviors for maximising profit
C. Retailers behavior to maximize sale
D. Market behavior to the most efficient prices
E. Stakeholder's behaviors to maximise wealth
Choose the correct answer from the options given below:
(a) A, B and D Only
(b) A, B and C Only
(c) B, D and E Only
(d) A, B and E Only

94. Match List 3 I with List II

List 3 I Phenomenon List - II Reasons
A. Economics defines I. Better understanding of aggregate
variables
B. Learning of Great Depression II. GDP, Employment, and Inflation
C. Macro-economic variables III. Human beings are rational and
information is free
D. Pitfalls of Micro economics IV. How markets discover the most efficient
prices
Choose the correct answer from the options given below
(a) A-I, B-II, C-III, D-IV
(b) A-II, B-III, C-I, D-IV
(c) A-III, B-IV, C-II, D-I
(d) A-IV, B-I, C-II, D - III

95. Which one of the following is the reason, as per the given passage, for crises in economic
modelling?
(a) Aggregating billions of micro truths into one macro truth
(b) Only equalization factors are considered in economic models
(c) Economic activities are not sufficient to study the macro environment
(d) Human beings behave irrationally

Read the given passage and answer the questions that follow.
Over $350 billion of private capital has been deployed over the last decade, which has
propelled more than 5,000 enterprises. These new businesses are anchored in innovative
business models combining the full potential of technology, facilitating every Indian to
fulfil their aspirations.
The big shift in the last decade is the reimagination of India as an addressable market of
300 million households, a massive shift from only 20 million households in tier-1 citics
carlior. I his has been propelled by the strong partnership between entrepreneurs and the
PE/VC ccosystem. The share of FDI funnelled into PEVC has surged to 50-60%, up from
20-30% two decades back.
Besides the tremendous focus on value creation, the PE/VC industry has brought about
multidimensional progress in the economy. The principles of responsible investing that
this industry is committed to have enabled the building of a more equitable, inclusive
economy, and one that has earned the trust of large global investors as an attractive
investment destination.

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The PE/VC ecosystem sparked a renaissance, empowering young minds to take a bold
leap. This led to a change in mindsel where entrepreneurship is now an accepted
livelihood and, indeed, a proud way of life. Today, startups and new businesses are
celebrated, and many arc giving up established carcers to follow their heart, with families
standing as stalwart supporters of entrepreneurship. The proportionality of risk and
reward has been embraced, forging a harmonious relationship between uncertainly and
achievement.
Stories at home and those that went global are a testament to the power of partnerships
between the capital provider and entrepreneurs, transforming a large democracy to be
self-reliant and elevating over a billion people to a new world of greater aspirations and
confidence.
This revolution has been largely possible because of Gol's thrust towards attracting
capital. The frameworks of alternative investment funds (AIFs), GIFT City IFSC, Startup
India programme and budget allocations, coupled with progressive amendments such as
GST and India Slack, have made India an attractive destination for investment.

96. The principles of responsible investing to which private equity and venture capital
industry is committed have resulted in which of the following outcomes for the Indian
economy?
A. Democratic decentralization
B. Balanced regional growth
C Inclusive and equitable economy
D. Larger export orientation
F Famed the trust of global investors
Choose the correct answer form the options given below:
(a) B and C Only
(b) A and D Only
(c) C and E Only
(d) B, C and D Only

97. Which of following, according to the passage, have made India an attractive destination for
investments?
A. Startup India program
B. Make in India program
C. Goods and Services Tax facilitation
D. Alternative Investment funds
E. Standup India program
Choose the most appropriate answer from the options given below:
(a) A, B and C Only
(b) A, C and D Only
(c) A, D and E Only
(d) C, D and E Only

98. Given below are two statements one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: The private equity and venture capital ecosystem has sparked a renaissance,
empowering young minds to take a bold leap. Reason R: Ioday, startups and new business
are celebrated and many are given up their established careers to follow their heart, with
families standing as stalwart supporters

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In the light of the above statements, choose the correct answer from the options given
below:
(a) Both A and R are true and R is the correct explanation of A
(b)Roth A and R are Irue bul R is NOT the coned explanation of A
(c) A is true but R is false.
(d) A is false but R is true.

99. According to the passage, which of the following is now being accepted as a way of life and
livelihood?
(a) PE/VC ecosystem
(b) Risk and uncertainty
(c) Innovation and achievement
(d) Entrepreneurship

100. In the recent years, the focus of private equity and venture capital in India, has been on
(a) Self-reliance
(b) Job creation
(c) Inclusive growth
(d) Value creation

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

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UGC NET Commerce 14 October 2022 Morning
Shift
1. Which one among the following is not a privilege or right of a holder-in-due course under
Negotiable Instruments Act?
(a) Estoppel against denying signature or capacity of prior party.
(b) Estoppel against denying original validity of the instrument.
(C) Estoppel against denying capacity of the payee to endorse.
(D) Estoppel against denying the genuineness or validity of payee9s endorsement.

2. Limited liability partnership may be wound up by which one of the following:

(a) Voluntarily
(b) By the Registrar, if the firm fails to file annual return in the prescribed form with the
Registrar of Companies within 60 days of closer of the financial year.
(c) By the Tribunal established under the Companies Act, 2013.
(d) Either voluntarily or by the tribunal established under the Companies Act, 2013.

3. Which one of the following is correct regarding the Negotiable Instruments Act in India?
(a) A cheque is always drawn on a banker.
(b) A cheque requires the acceptance by the drawee.
(c) A bill of exchange can be drawn payable to bearer on demand.
(d) A promissory note containing a conditional promise to pay is a valid promissory note.

4. Which one of the following does not fall in the ambit of the objectives of the Competitions
Act, 2002 in India?
(a) Encourage competition.
(b) Prevent abuse of dominant position.
(c) Prevent monopolistic rights arising out of intellectual property.
(d) Regulate mergers and acquisitions.

5. The profit for the year before appropriation in a partnership firm. was Rs. 50,000.
Shagun, one of the partners, receives a salary of Rs. 4,000 and interest at ten per cent per
annum on his capital of Rs. 1,00,000. Amir, the other partner, receives interest on capital
at the same rate as Shogun. Amir's capital was Rs. 89,000. They share profits and losses
equally. What was the total share of profits credited to Amir's current account?
(a) Rs. 13,550
(b) Rs. 15,350
(c) Rs. 22, 450
(d) Rs. 24,350

6. The examination of documentary evidence in support of transactions contained in the

books of accounts is termed as which one of the following?
(a) Verification
(b) Vouching
(c) Valuation
(d) Validation

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7. Which one of the following approaches of human resource accounting was suggested
by Brummet, Flamholtz and Pyle?
(a) Replacement Cost Approach
(b) Historical Cost Approach
(c) Opportunity Cost Approach
(d) Standard Cost Approach

8. The following information with respect to a company is given below: Net profit before tax =
Rs. 1,00,000
10% Preference share capital (Rs. 10 each) = Rs.
1,00,000 Equity share capital (Rs. 10 each) = Rs.
1,00,000 Taxation at 50% of Net profit.
Which one among the following is the earning per share?
(a) Zero
(b) Rs. 4
(c) Rs. 10
(d) Rs. 40

9. Who among the following Economists suggested the Sales Revenue Maximization as
an alternative objective of a business firm?
(a) K.W. Rothschild
(b) Cyert and March
(c) Robin Marris
(d) W.J. Baumol

10. Which one of the following is not the assumption for consumer behaviour based on the
cardinal utility approach?
(a) Maximization of satisfaction.
(b) Utility cardinally measurable.
(c) Diminishing marginal utility of money.
(d) Utility is additive.

11. Which one of the following relationships regarding price elasticity coefficient- with change
in price and change in total revenue is incorrect?
(a) When e=0, with increase in price we see an increase in total revenue, while with
decrease in price we see a decrease in total revenue.
(b) When e>0, with increase in price we see an increase in total revenue, while with
decrease in price we see a decrease in total revenue.
(c) When e=1, with increase in price we see an increase in total revenue, while with
decrease in price we see a decrease in total revenue.
(d) When e<1, with increase in price we see an increase in total revenue, while with
decrease in price we see a decrease in total revenue.

12. In the case of two production-inputs, which one of the following is not a property of
Isoquants (the production indifference curves)?
(a) Negative slope
(b) Concave to the point of origin.
(c) Non-intersecting and non-tangential.
(d) Upper isoquants represent higher level if output.

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13. A project requires an initial investment of Rs. 56,125 and its estimated salvage value is
Rs. 3,000. The annual estimated income after depreciation and tax for its entire life of 5
years are Rs. 3,375, Rs. 5,375, Rs. 7,375, Rs. 9,375 and Rs. 11,375 respectively. Which
one of the following is its average rate of return?
(a) 26.28%
(b) 124.74%
(c) 29.94%
(d) 60.88%

14. In comparison to domestic equity investment, foreign equity investment would be

preferred if it offers in which of the following situations?
(a) Higher dividend yield and high rate of capital appreciation.
(b) Lower dividend yield and lower rate of capital appreciation.
(c) Higher dividend yield and lower rate of capital appreciation.
(d) Lower dividend yield and high rate of capital appreciation.

15. The potential that a firm's consolidated financial statements be affected as a result of
changes in exchange rates is called as:
(a) Transaction exposure
(b) Economic exposure
(c) Translation exposure
(d) Operating exposure

16. Which one of the following is a method of converting a non-productive, inactive asset (i.e.
receivable) into a productive asset (viz, cash) by calling receivables to a company that
specializes in their collection and administration?
(a) Bills discounting
(b) Underwriting
(c) Guaranteeing
(d) Factoring

17. Which one of the following summary measures denotes the degree of lopsidedness in a
distribution?
(a) Measures of central tendency.
(b) Measures of variation.
(c) Measures of skewness.
(d) Measures of Kurtosis.

18. Which one of the following statements is true?

(a) The sum of absolute deviations measured from Median is the least.
(b) If each value in a given series is multiplied by a constant, K, the variance of the new
series would be equal to the variance of the given series.
(c) The variance is the square of the value of the standard deviation divided by mean.
(d) Z-score value of 8X9 is the ratio between 8X9 divided by mean.

19. Which one of the following statements is false?

(a) Regression coefficients are independent of change of origin but not of change of scale.
(b) Both the regression coefficients cannot assume a value (ignoring algebraic sign)
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greater than one.
(c) Regression coefficient of the two variables may have different algebraic symbols for real
life situations.
(d) Coefficient of correction of independent of the change of origin and scale of data.

20. Which one of the following measures of central tendency is not affected by the presence of
extreme values in the data of the distribution?
(a) Arithmetic average
(b) Geometric average
(c) Positional average
(d) Harmonic average

21. Which one of the following is not an advantage in case of product-based

departmentalization?
(a) It leads to continuous and undivided attention to the product.
(b) Requires less number of managerial personnel to be employed.
(c) It enables top management to compare the performances of different products.
(d) It motivates departmental head to improve his performance.

22. Through which one of the following influences of workers' participation in

management regarding 'safety and welfare and work-related' issues are resolved?
(a) Information sharing
(b) Bargaining
(c) Consultation
(d) Co-determination

23. Which one of the following is a determinant of Organisational Climate or Culture (OC)?
(a) Leadership style
(b) Decision-making
(c) Innovation and change
(d) Trust

24. Which one of the following tests measures the applicant's capacity to learn the skill
required for a job?
(a) Aptitude test
(b) Interest test
(c) Intelligence test
(d) Personality test

25. What has been the primary motive of central banks raising interest rates in recent times?
(a) Gaining competitiveness
(b) Taming inflation
(c) Raising employment levels
(d) Currency depreciation

26. Which of the following products would require intensive modification in the
international arena?
(a) Tennis racket
(b) Cosmetics
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(c) Notebook computer
(d) Camera

27. Banks are not required to deduct the TDS from depositors who have submited
declaration in which one of the following forms under the Income Tax Rule, 1962.
(a) Form 16(A)
(b) Form 16(H)
(c) Form 15(G)
(d) Form 15(A)

28. The safety margin that insurers must maintain in order to protect the interest of the
policy holders is called:
(a) Protection margin
(b) Solvency margin
(c) Profit margin
(d) Cost of risk bearing

29. If the firms are competitive and profit maximizing, the demand curve for labour is
determined by which one of the following?
(a) The opportunity cost of labour time.
(b) The value of the marginal product of labour.
(c) Offsetting income and substitution effects.
(d) The value of the marginal product of capital.

30. Which one of the following is not coordinated in the horizontal integration of
Integrated Marketing Communications?
(a) Packaging
(b) Customer Service
(c) Sales Promotion
(d) Distribution

31. Which one of the following customers are risk averse, technology shy, and price sensitive?
(a) Early adopters
(b) Early majority
(c) Late majority
(d) Laggards

32. Which one of the following is an example of hybrid service offering?

(a) Consulting
(b) Massage
(c) Restaurant meal
(d) Car with a warranty.

33. Which is the most appropriate mode of entry in international business to an enterprise
with little experience of International Markets?
(a) Acquisition
(b) Exporting
(c) Strategic Alliance
(d) Joint Venture

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34. According to FEMA foreign exchange does not include which one of the following?
(a) Deposit payable in any foreign currency.
(b) Bills of exchange drawn in India currency but payable in any foreign currency.
(c) Travellers cheques drawn by institutions outside India but payable in Indian currency.
(d) Draft drawn by banks outside India and payable in foreign currency.

35. In which one of the following modes of entry into foreign markets risk and profit potential
are the highest?
(a) Indirect exporting
(b) Joint venture
(c) Direct investment
(d) Direct exporting

36. The Central Bank can significantly influence the savings, investments and consumer
spending in the economy through which one of the following policies?
(a) Fiscal policy
(b) Monetary policy
(c) Industrial policy
(d) Foreign exchange policy

37. Residential status in. Indian Income Tax Act is determined for which one of the following?
(a) Previous year
(b) Assessment year
(c) Accounting year
(d) Both previous and assessment year.

38. Which one of the following provident funds is set up under Provident Fund Act, 1952?
(a) Statutory Provident Fund
(b) Recognised Provident Fund
(c) Public Provident Fund
(d) Unrecognised Provident Fund

39. Which one of the following is the Net Annual Value (NAV) of house for the given details?
Municipal value = Rs. 3,60,000
Fair Rental value = Rs.4,00,000
Standard Rent = Rs. 5,00,000
Actual Rent (Annual Rent) = Rs. 4,80,000
Municipal Tax = Rs. 12,000 (due but not
paid)
(a) rs. 4,00,000
(b) rs. 4,80,000
(c) rs. 4,68,000
(d) rs. 5,00,000

40. Tax audit is compulsory in the case of a person carrying on profession and whose gross
receipts exceeds which one of the following?
(a) Rs. 60 lakhs
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(b) Rs. 1 crore
(c) Rs. 40 lakhs
(d) Rs. 50 1akhs

41. The most significant and widely used country risk ratings in International Business Risks
are given by which of the following?
a. Business Environment Risk Intelligence (BERT) Index
b. Economist Intelligence Unit (EIU) Indices.
c. National Centre for Trade Information (NCTI)
d. India Trade Promotion Organisation (MO)
e. PRS Group's International Country Risk Guide .
Choose the correct answer-from the options given
below:
(a) a, c only
(b) a, b and e only
(c) a, d, e only
(d) c, d, e only

42. Quotas which are the quantitative restrictions on exports/imports intended at protecting
local industries and conserving foreign exchange, include which of the following?
a. Single stage quota
b. Absolute quota
c. Tariff quotas
d. Value added quotas
e. Voluntary quotas
Choose the correct answer from the options given below:
(a) b, c, e only
(b) a, b, c only
(c) a, d, e only
(d) b, c, d, e only

43. Heckscher-Ohlin Theory of factor endowment suggests which of the following types of
relationships?
a. Production-Marketing relationship
b. Land-Labour relationship
c. Marketing-Capital relationships
d. Labour-Capital relationships
e. Technological complexities
Choose the correct answer from the options given below:
(A) a. b only
(B) b, c only
(C) b, d, e only
(D) a, c, e only

44. Which of the following statement(s) are correct?

a. Asset liability management is a mechanism to address the risk arising due to
mismatch of assets and liabilities.
b. Non-performing Assets (NPA) must be written off as loss in the financial year in

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which NPA has been identified.
c. Undisclosed reserves are included in capital of banks (Tier II) if they represent
accumulation of post-tax profits.
d. Bank cannot accept deposits from the public for a period exceeding five years.
e. Hybrid debt capital instruments may be included in Tier II capital.
Choose the correct answer from the options given below:
(a) a, c, d only
(b) c, d, e only
(c) b, c, d only
(d) a, c, e only

45. Which of the following may be the reasons for a material usage variance?
a. Negligence in the use of materials.
b. Changes in basic prices of materials.
c. Poor or improper machine handling.
d. Wastage due to inefficient production methods.
e. Change in product design requiring usuage different from the standard.
Choose the correct answer from the options given below:
(a) a, b, c, d only
(b) b, c, d, e only
(c) a, c, d, e only
(d) a, b, d, e only

46. Which of the following statements regarding short-term theory of production and cost
analysis are true?
a. Economic rent is the same as economic profit.
b. Imputed cost is the rent of hired building.
c. When AC=MC, AC is minimum.
d. When MC is rising, AC>MC.
e. Output is optimum when AC=MC.
Choose the most appropriate answer from the options given below:
(a) a, d, e only
(b) a, c, e only
(c) b, c, d only
(d) a, b, d, e only

47. Which of the following statements are false regarding price and output determination
under perfect competition?
a. A firm is a price taker.
b. In the long run, a firm is in equilibrium when its AR=MR=LAC=LMC.
c. A firm is in equilibrium in the short run only when its AC=AR=MR=MC.
d. A firm reaches its shut-down point when price goes below its AC.
e. A firm fixes the price of its products when AR=MR.
Choose the most appropriate answer from the options given below:
(a) a, b, c only
(b) c, d, e only
(c) b, c, d only
(d) a, e only
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48. Which of the following affect the pricing of a currency option?

a. Spot exchange rate
b. Exercise rate
c. Foreign risk-free rate of return
d. Domestic risk-adjusted rate
e. Time to expiration
Choose the correct answer from the options given below:
(a) b, c, d, e only
(b) a, c, d, e only
(c) a, b, c, e only
(d) a, b, d, e only

49. A firm is exposed to translation loss if it uses current exchange rate to translate its assets
and liabilities. Which among the following are methods in use in translating assets and
liabilities?
a. Current/Non-Current method
b. Temporal method
c. Monetary/Non-monetary method
d. Current Rate method
e. Transaction/Non-transaction method
Choose the correct answer from the options given below:
(a) a, b, d, e only
(b) b, c, d, e only
(c) a, b, c, d only
(d) c, d, e only

50. Which of the following assumptions form the basis of the MM Hypothesis in stating
irrelevance of capital structure regarding weighted average cost of capital remaining
constant?
a. Perfect capital markets.
b. Heterogenous risk class.
c. Absence of taxes.
d. Full dividend payout.
e. Same expectation of firm's EBIT with which to evaluate the value of a firm .
Choose the correct answer from the options given below:
(a) b, c, d, e only
(b) a, c, d, e only
(c) a, b, c, d only
(d) a, b, d, e only

51. Which of the following are the complete experimental research designs?
a. Factorial design.
b. One group after-only design.
c. Before-after design with one experiment and two control groups.
d. Latin square design.
e. One-group before-after design.
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Choose the correct answer from the options given below:
(a) a, c, d only
(b) a, d, e only
(c) b, c, d only
(d) b, c, e only

52. Which of the following are the properties of normal distribution?

a. Maybe symmetrical or skewed.
b. Uni-modal, bell-shaped and symmetrical.
c. Asymptotic to the x-axis.
d. η and ρ are the two parameters.
e. ¼ and σ are the two parameters.
Choose the correct answer from the options given below:
(a) b, d only
(b) b, c e only
(c) a, d only
(d) a, c, e only

53. Which of the following samples are non-random or non-probability samples?

a. Systematic sample
b. Quota sample
c. Cluster or area sample
d. Purposive sample
e. Replicated sample
Choose the correct answer from the options given below:
(a) a, c only
(b) b, c, d only
(c) a, d, e only
(d) b, d only

54. Which of the following common difficulties are faced in making decisions and
implementing?
a. Non-actionable information
b. Unsupporting environment
c. Easy acceptance by subordinates
d. Ineffective communication
e. Incorrect timing
Choose the correct answer from.the options given below:
(a) a, b only
(b) c, d, e only
(c) a, b, d, e only
(d) a, b, c, d only

55. Which of the following economic identities measure degree of monopoly in an industry?
a. Stackelberg model
b. Concentration ratio
c. Diffusion index

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d. Herfindahl index
e. Elasticity reciprocal
Choose the most appropriate answer from the options given below:
(A) a, b, c only
(B) b, c, d only
(C) a, c, e only
(D) b, d, e only

56. Which of the following statements are true in case of delegation of authority?
a. It slows down decision-making.
b. It leads to better decisions.
c. It relieves the manager of his heavy work load.
d. It helps create an informal organisation structure.
e. It helps train subordinates.
Choose the correct answer from the options given below:
(a) a. d. e only
(b) a, b, c only
(c) b, c, e only
(d) b, c, d, e only

57. Which of the following measures inflation in ecosystem?

a. Phillips curve
b. Consumer Price Index
c. Misery Index
d. GDP deflator
e. Fisher effect
Choose the most appropriate answer from the options given below:
(a) a, b, e only
(b) b, c, d only
(c) b, c, e only
(d) b and d only

58. Which of the following are subsidiaries of RBI?

a. National Homing Bank (NHE)
b. National Bank for Agriculture and Rural Development (NABARD)
c. Export Import Bank (EXIM Bank)
d. Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
e. Bhartiya Reserve Bank Note Mudran Private Limited
(BRBNMPL)
Choose the correct answer from the options given below:
(a) a, b, c, d only
(b) a, b, d, e only
(c) b, c, d, e only
(d) a, c, e only

59. Which of the following are three pillars of BASEL 4II?

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a. Minimum Capital Requirements.
b. Supervisory Review
c. Leverage
d. Market Discipline
e. Capital Conservation Buffer.
Choose the correct answer from the options given below:
(a) a, c, d only
(b) a, d, e only
(c) a, b, d only
(d) b, c, e only

60. Which of the following inputs are considered while deciding economic value-to-
customer pricing?
a. Buyer's image of the product performance
b. Warranty quality
c. Desired rate of return
d. Customer demand
e. Customer support
Choose the correct answer from the options given below:
(a) a, b, e only
(b) a, c, d only
(c) b, d, e only
(d) a, b, c, d only

61. Which of the following variables are considered relevant in behavioural segmentation of
consumers?
a. Lifestyle
b. User status
c. Occasions
d. Values
e. Loyalty status
Choose the correct answer from the options given below:
(e) a, b, c only
(f) a, d, e only
(g) b, c, e only
(h) a, b, e only

62. Which of the following are the tax categories under the GST?
a. 5%
b. 10%
c. 12%
d. 20%
e. 28%
Choose the correct answer from the options given below:
(a) a, d, e only
(b) b, c, d only
(c) a, c, e only

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(d) b, d, e only

63. Which of the following issues are addressed by the Information Technology Act, 2000?
a. Legal recognition of electronic documents.
b. Redressal of grievances.
c. Offenses and contraventions.
d. Disputes settlements.
e. Justice dispensation system for cybercrimes.
Choose the correct answer from the options given below:
(a) a, c, d only
(b) c, d, e only
(c) b, d, e only
(d) a, c, e only

64. Which of the following losses are allowed to be carried forward and set off in the
subsequent assessment years?
a. House property loss
b. Business loss
c. Speculation loss
d. Capital loss
e. Loss on account of owning and maintaining race
horses.
Choose the correct answer from the options given below:
(a) a, b, c, d only
(b) b, c, d, e only
(c) a, e only
(d) a, b, c, d, e
65. According to the Stewardship Theory of Corporate Governance which of the following
statements are relevant?
a. Governance approach is sociological and psychological.
b. Behaviour pattern is trustworthy.
c. The role of management is to monitor and control.
d. Owners attitude is to take risks.
e. Interests of the managers and principals
converge.
Choose the correct answer from the options given below:
(a) a, d, e only
(b) a, b, d, e only
(c) b, c, d only
(d) a, b, c, d, e

66. Match List I with List II:

List I (Type of List II (Explanation)
Agreement)
A. NAMA I. Liberation of International Investments.
II. Includes industrial goods, textile, jewellery, fish and
B. GATTs fisheries products and manufacturing industries.

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C. TRIMs III. Liberalisation of trade in goods and services.
D. TRIPs IV. Provides monopoly power to owners of intellectual property.
Choose the correct answer from the options given below :
(a) A- II, B- I, C- IV, D- III
(b) A- IV, B- II, C- III, D- I
(c) A- II, B- III, C- I, D- IV
(d) A- III, B- II, C- IV, D- I

67. Match List I with List II:

List I (Accounting Standard) List II (Description)
A. Ind-AS: 1 I. Investments in Associates and Joint ventures
B. Ind-AS: 8 II. Presentation of Financial Statements
C. Ind-AS: 28 III. Interim Financial Reporting
D. Ind-AS: 34 IV. Accounting policies, changes in Accounting
Estimates and Errors.
Choose the correct answer from the options given below:
(a) A- II, B- III, C- I, D- IV
(b) A- II, B- IV, C- I, D- III
(c) A- III, B- II, C- IV, D- I
(d) A- III, B- IV, C- I, D- II

68. Match List I with List II:

List I (Shape of revenue curve of the firm) List II (Market structure)
A. Kinked revenue curve I. Monopolistic competition
B. Infinitely elastic straight line curve II. Perfect competition
C. Relatively less elastic curve III. Oligopoly
D. Relatively high elastic curve IV. Monopoly
Choose the correct answer from the options given below:
(a) A- III, B- II, C- IV, D- I
(b) A- IV, B- III, C- II, D- I
(c) A- I, B- II, C- IV, D- III
(d) A- III, B- II, C- I, D- IV

69. Match List I with List II:

List I (Type of lease) List II (Description)
I. Mix of operating and finance lease on full payout basis and
A. Leveraged lease provides for the purchase option to the lessee.
B. Direct lease II. Financing for servicing and fuel in the aircraft industry.
C. Wet lease III. Protects lessee against the rate of obsolescence.
IV. Involves lessor, lessee and financer, lessor provides equity
D. Update lease and major amount is provided by the financer as loan.
Choose the correct answer from the options given below:
(a) A- I, B- II, C- III, D- IV
(b) A- IV, B- I, C- II, D- III
(c) A- II, B- IV, C- I, D- III
(d) A- IV, B- III, C- I, D- II

70. Match List I with List II:

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List I (Type of test) List II (Testing situation)
a. ANOVA Test i. Testing whether a standard probability distribution fits
well to a given frequency distribution.
b. Z-test ii. Parametric test to test the hypothesis of differences in
more than two sample means.
c. Chi-square Test iii. Non-parametric test to test the hypothesis of
differences in more than two sample means.
d. Kruskal-Wallis Test Hypothesis testing for mean for large samples when σ is
known or unknown
Choose the correct answer from the options given below:
(a) A- IV, B- III, C- I, D- II
(b) A- I, B- IV, C- II, D- III
(c) A- II, B- IV, C- I, D- III
(d) A- III, B- II, C- IV, D- I

71. Match List I with List II:

List I (Management Style) List II (Approach)
A. Task Management I. Love conquers all approach.
B. Country Club Management II. One plus one can add upto three
approach.
C. Impoverished Management III. Authority-obedience approach.
D. Team Management IV. Speak no evil, hear no evil, see no evil
approach.
Choose the correct answer from the options given below:
(a) A- I, B- III, C- IV, D- II
(b) A- I, B- IV, C- II, D- III
(c) A- III, B- I, C- IV, D- II
(d) A- III, B- IV, C- II, D- I

72. Match List I with List II:

List I List II
A. Appointment of auditors by CAG. I. Section 139(5)
B. Qualifications and disqualifications of II. Section 141
auditors.
C. Powers and duties of auditors III. Section 142
D. Remuneration of auditors IV. Section 143

Choose the correct answer from the options given below:

(a) A- II, B- III, C- I, D- IV
(b) A- II, B- I, C- IV, D- III
(c) A- I, B- II, C- IV, D- III
(d) A- I, B- III, C- II, D- IV

73. Match List I with List II:

List I (PLC Stage) List II (Communication Strategy)
A. Introduction I. Stress, brand differences and benefits and encourage brand
switching.
B. Maturity II. Build awareness and interest in the mass market.
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C. Growth III. Reduce to minimal level needed to retain customers.
D. Decline IV. Build product awareness and trial among dealers.
Choose the correct answer from the options given below:
(a) A- IV, B- III, C- I, D- II
(b) A- IV, B- I, C- II, D- III
(c) A- II, B- I, C- IV, D- III
(d) A- II, B- IV, C- I, D- III

74. Match List I with List II:

List I (Mode/Delivery) List II (Explanation)
A. Actual delivery I. Seller hands over to the buyer the key of the godown
where the goods are stored.
B. Constructive delivery II. Constructive delivery by the seller to the buyer.
C. Symbolic delivery III. Voluntary transfer of possession of goods from seller
to buyer.
D. Delivery IV. Acknowledgement by third person on behalf of and at
the disposal of the buyer.
Choose the correct answer from the options given below:
(a) A- IV, B- II, C- III, D- I
(b) A- II, B- IV, C- I, D- III
(c) A- III, B- I, C- II, D- IV
(d) A- I, B- II, C- IV, D- III

75. Match List I with List II:

List I (Earnings- Valuation ratios) List II (Underlying Description(s)
A. Price- Earnings (P-E) ratio I. Stock price divided by accounting net worth.
B. Earnings Yield Ratio II. Firm's P/E ratio divided by an index P/E ratio.
C. Price- Book (P/B) ratio III. Stock price divided by the earnings per share.
D. Relative P/E ratio IV. Earning per share divided by stock price.
Choose the correct answer from the options given below:
(a) A- II, B- IV, C- I, D- III
(b) A- I, B- IV, C- III, D- II
(c) A- II, B- III, C- IV, D- I
(d) A- III, B- IV, C- I, D- II

76. Arrange the following steps in the process of concluding an export deal.
a. Confirm the export deal.
b. Receive letter of credit.
c. Identify and negotiate with importer.
d. Receive an export order.
e. Examine thoroughly and ask for amendment.
Choose the correct answer from the options given below:
(a) a, c, e, d, b
(b) c, a, d, e, b
(c) b, e, a, c, d
(d) d, a, b, c, e

77. Sequence correctly the following steps in PERT/CPM analysis:

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a. Identify the critical path.
b. Draw the network diagram.
c. Establish dependencies across activities .
d. Estimate the completion time of an activity.
e. Define the activities in the network.
Options:
(a) b, c, d, e, a
(b) e, c, b, d, a
(c) c, b, e, a, d
(d) a, b, d, e, c

78. Arrange the following processes in a proper sequence to conduct scientific research:
a. Induction
b. Making prediction.
c. Observation of facts.
d. Testing of prediction.
e. Development of explanations.
Choose the correct answer from the options given below:
(a) a, b, c, e, d
(b) c, a, e, b, d
(c) e, a, b, c, d
(d) a, d, b, c, e

79. Rearrange the steps followed in evaluating an investment proposal using NPV method:
a. Calculate the present value of cash flows .
b. Identify an appropriate discount rate.
c. Forecasting cash flows.
d. Rank the projects as per NPV.
e. Compute the net present value.
Choose the correct answer from the options given below:
(A) b, e, a, d, c
(B) a, b, c, d, e
(C) c, b, a, e, d
(D) d, a, c, b, e

80. Arrange the following pricing strategies and other practices as per the life-cycle of a
new product of which no close substitues are available.
a. Gradual rise in price.
b. Product improvement and market segmentation.
c. Gradual reduction in price to retain sales.
d. Skimming pricing.
e. Large price cuts.
Choose the correct answer from the options given below:
(a) d, a, b, e, c
(b) e, c, a, b, d
(c) b, d, c, a, e

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(d) d, a, b, c, e

81. Arrange the time spent in administration in the increasing order by the following
personnel:
a. Works Manager.
b. President
c. Foreman
d. Board of Directors.
e. General Manager.
Choose the correct answer from the options given below:
(A) c, a, e, b, d
(B) d, b, e, a, c
(C) d, e, b, a, c
(D) e, c, a, d, b

82. Arrange the following stages in successive order of new product development process.
a. Concept Development and Testing.
b. Marketing Strategy Development.
c. Idea Screening.
d. Product Development.
e. Test Marketing.
Choose the correct answer from the options given below:
(a) a. c, d, e, b
(b) c, a, b, d, e
(c) c, a, d, e, b
(d) a, c, d, b, e

83. Arrange the following steps in a proper sequence to develop successful market offering:
a. The specifics of the marketing offering.
b. Monitoring goal progress.
c. The ultimate criterion for success.
d. The logistics of creating the offering.
e. The value created in the target market.
Choose the correct answer from the options given below:
(a) a, d, e, c, b
(b) c, e, a, b, d
(c) d, a, c, e, b
(d) c, e, a, d, b

84. Arrange the following in the winding up process of a company by tribunal in

chronological sequence from the first to the last.
a. Settlement of list of contributories and application of assets.
b. Submission of report by company liquidator.
c. Petition for winding up.
d. Direction of Tribunal on report of company liquidator.
e. Appointment of company liquidator.

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Choose the correct answer from the options given below:
(a) e, b, a, c, d
(b) a, e, b, c, d
(c) c, e, b, d, a
(d) b, d, c, a, e

85. Sequence the following steps to compute tax where there is agriculture income also.
a. Add agricultural income and non-agricultural income and calculate tax on
aggregate as if such aggregate income is the total income.
b. Add agricultural income to the maximum exemption limit available in the case of
assessee and compute tax on such amount as if it is total income.
c. Deduct the amount of Income tax as computed (D) from the tax computed from (A).
d. Claim rebate u/s 87(A) if applicable.
e. Add surcharge if applicable along with the Health and Education cess @
4%.
Choose the correct answer from the options given below:
(a) b, a, c, d, e
(b) b, a, d, c, e
(c) a, b, d, c, e
(d) a, b, c, d, e

86. Given below are two statements:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): There is a change in the profit sharing ratio of the old partners when a
new partner gets his share of profit from all the partners.
Reasons (R): When a new partner is admitted into the partnership for a certain share
of profit, the combined shares of the old partners will be reduced.
In the light of the above statements, choose the most appropriate answer from the
options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is true but (R) is false.
(d) (A) is false but (R) is true.

87. Given below are two statements:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): Every perfectly competitive firm in the long run earns normal profits
only. Reasons (R): Market price gets fully adjusted, due to changes in the
demand and the supply conditions and the resultant free entry and exit of the firms
in the perfectly competitive market, so as only the normal profit persists.
In the light of the above statements, choose the most appropriate answer from the
options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is correct but (R) is not correct.

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

88. Given below are two statements:

Statement I: Distribution channels are sets of interdependent organizations
participating in the process of making a product available for consumption.
Statement II: All marketing channels have the potential for conflict and competition
resulting from goal incompatibility.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true.

89. Given below are two statements:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): 'Lien' is the right to retain possession of goods and refuse to deliver
them to the buyer until the price due in respect of them is paid or tendered.
Reasons (R: An unpaid seller in possession of goods sold is entiled to exercise his lien
on the goods where the goods have been sold without any stipulation as to credit.
In the light of the above statements, choose the most appropriate answer from the
options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is correct but (R) is not correct.
(d) (A) is not correct but (R) is correct.

90. Given below are two statements:

Statement I: Tax planning promotes professionalism and strengthens economic
and political situation of the country.
Statement II: Tax evasion is an act within the permissible range of the Act to achieve
social and economic benefits.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true.

Read the following paragraph and answer the five questions that follow:
The Cabinet approval for seven integrated mega textile and apparel parks pan-India
makes eminent sense. It would boost value addition on-site, reaping economies of scale
and scope, reduce logistical and sourcing expenses, and generally step up sector-
specific competitive advantage across the board.
The value chain in yarn, fabrics and ready-mades is scattered and quite fragmented
nation-wide. So, for instance, while cotton is grown in Gujrat and Maharashtra,

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spinning takes place in Tamil Nadu, processing gets done in Rajasthan and Gujarat,
and garment-making happens mostly in the National Capital Region, Bengaluru and
Kolkata. The proposed mega parks. spread over 1,000 acre and more, would provide
facilities for weaving, dyeing, printing, fashion designing and garment- making in one
location. They would have core infrastructure such as incubation centre, plug-and-
play facility, and skill development units so as to keep abreast of the latest trends in
textiles and apparel. The export potential in textiles is large. We need to build a
conducive and innovative ecosystem with proactive policy.
The Centre has recently announced Rs. 10,683 crore production-linked incentive
scheme for textiles. The textiles parks scheme would have an outlay of Rs. 4,445
crore, and is slated to provide support for project development in the cluster mode.
The recent move to provide export-oriented units rebate on state and central taxes
and levies would also help. But the fact remains that the share of textiles in India's
export basket has declined, and is now barely in the double digits. A recent Crisil
study says that absent free trade agreements (FTAs) hurt our export performance.
Decent work in the textile parks would gain custom, in today's world.

91. Which one of the following will not be a part of value chain in the proposed integrated mega
textile and apparel parks?
(a) Garment making
(b) Yarn weaving
(c) Cotton production
(d) Yarn spinning

92. Which of the following states does not contribute to Indian textile industry?
(a) West Bengal
(b) Rajasthan
(c) Punjab
(d) Tamil Nadu

93. Which one of the following will be the most critical to the export performance of Indian
textiles?
(a) Integrated mega textile and apparel parks.
(b) Free trade agreements.
(c) Centres production linked incentive schemes.
(d) Rebate on state and central taxes and levies to export-oriented units.

94. Given below are two statements:

Statement I: Both central and state governments want to promote the units
exporting textiles. Statement II: The performance of textiles in India9s export
basket has improved.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false.
(d) Statement I is false but Statement II is true.

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95. Given below are two statement:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): Indian textiles can regain their sheen with the setting up of integrated
mega textile and apparel parks.
Reason (R): The value chain in yarn, fabrics and ready-mades is scattered nation-wide.
In the light of the above statements, choose the most appropriate answer from the
options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is correct but (R) is not correct.
(d) (A) is not correct but (R) is correct.

Read the following paragraph and answer the five questions that follow:
Section 455 of Indian Companies Act, 2013 talks about a New Provision Calls
"DORMANT COMPANY'. This concept was not there in Companies Act, 1956.
A Dormant Company offers excellent advantage to the promoters who want to hold
an asset or intellectual property under the corporate shield for its usage at a later
stage. For instance: if a promoter wants to buy lands now for its future project at a
comparatively lesser price, he may do the same through dormant company so that he
can use the land for its future project. Thus, dormant company status is a new
phenomenon in the Companies Act 2013 and is an excellent tool for keeping assets
in the company for its future usage. A dormant company may be either a public
company or a private company or a one person company.
Certain companies, due to the nature of their business, may not be able to start any
business, for a long time from the date of incorporation as for instance any business
for creation of intellectual
property or for a future project and has no significant accounting transaction. Such a
company may be an Inactive company". Construction Companies/Real Estate
Companies/Incorporate New Companies to hold land/properties for future projects.
This concept is beneficial for them. By this concept, they can Incorporate Company
and purchase property/land in that company and get status of Dormant Company. If
a company gets status of dormant company, there are less compliance in dormant
company in comparison of active company. It will help to save cost of compliances for
inactive companies.

96. Which one of the following nature of business is suitable to a Dormant company?
(a) Shipping business
(b) Manufacturing business
(c) Real Estate business
(d) Pharmaceutical business

97. Which of the following companies do not fall under a purview of Dormant company?
a. Private company
b. One person company
c. Limited and unlimited liability companies
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d. Public company
e. Government company
Choose the most appropriate answer from the options given below:
(a) b, d, e only
(b) a, c, d only
(c) a, b, d only
(d) b, c, e only

98. Given below are two statements:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): Provision is made to obtain the status of a 'dormant company' for a
inactive company that doesn't trade.
Reasons (R): Dormant company doesn't trade but has significant accounting
transaction.
In the light of the above statements, choose the most appropriate answer from the
options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is correct but (R) is not correct.
(d) (A) is not correct but (R) is correct.

99. Dormant company offers excellent advantage to which one of the following?
(a) Bankers
(b) Creditors
(c) Shareholders
(d) Promoters

100. Given below are two statements:

One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): If a company gets status of a dormant company, then it is subject to
less compliance in comparison to active company.
Reasons (R): It will help to save of compliances for Inactive companies when they
become dormant company under section 455 of the Companies Act, 2013 as
compared to the Companies Act, 1956. In the light of the above statements, choose
the most appropriate answer from the options given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A).
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A).
(c) (A) is correct but (R) is not correct.
(d) (A) is not correct but (R) is correct.

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

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UGC NET COMMERCE Shift-II 29-10-2022

1. Which one of the following theories describes FDI flows in ecosystems?
(a) Product Life Cycle Theory
(b) Factor Endowment Theory
(c) Waterfall Theory
(d) New Trade Theory

2. Which one of the following is a Trade related entry mode in international markets?
(a) Management Contract
(b) International Licensing
(c) International Leasing
(d) Portfolio Investments

3. "If you know the enemy and know yourself, you need not fear the result of a hundred
battles."
Above statement of Sun Tzu corresponds to which one of the following components of
Porter's Five Forces Model?
(a) Threat of substitutes
(b) Threat of Competitor
(c) Bargain Power of Supplier
(d) Threat of New Entrants

4. A spot sale of a currency combined with a forward repurchase of the same currency is
called which one of the following?
(a) Forex swap
(b) Swap rate
(c) Forward rate
(d) Spot rate

5. Break-even point is not affected with the changes in which one of the following?
(a) Sale price per unit
(b) Variable cost per unit
(c) Number of units sold
(d) Total fixed costs

6. Answer the correct material usage variance from the information given below:
Standard material cost for manufacturing 1000 units of an output is 400 kgs of material
at Rs. 2.00 per kg. When 2000 units are produced, it is found that actual consumption
was of 825 kgs material at a price of Rs. 2.70 per kg.:
(a) Rs. 67.50 Favourable
(b) Rs. 67.50 Adverse
(c) Rs. 62.50 Favourable
(d) Rs. 62.50 Adverse

7. In Fund Flow Statement, which one of the following is not a valid statement?
(a) It is prepared to know the total sources and their uses in a year.
(b) Dividend received is a source of funds.
(c) Its preparation is at the discretion of the management.
(d) It is useful for external financial management.

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8. Written plan containing the details regarding the conduct of a particular audit is called:
(a) Audit Memorandum
(b) Audit Planning Procedure
(c) Audit Notebook
(d) Audit Programme

9. Total revenue of a business firm increases as long as:

(a) Ep1[Option ID 9373]
(b) Ep| = 1
(c) Ep| < 1
(d) |Ep| < 0

10. The pricing practice to extract all of the consumer surplus from consumers to maximize
thetotal revenue and profits from the sale of a particular quantity of product is called:
(a) First-degree price discrimination
(b) Second-degree price discrimination
(c) Third-degree price discrimination
(d) Penetration pricing

11. Economists' adjustment to reality limited by individual consumers' preferences,

intelligence and environmental factors is called:
(a) Rationality
(b) Homo economicus
(c) Bounded rationality
(d) Consumer sovereignity

12. When a monopolist switches from charging a single price to perfect price discrimination. it
reduces:
(a) The quantity produced
(b) The firm's profit
(c) Consumer surplus
(d) Total surplus

13. Preference share in India is issued by a company for a maximum period of:
(a) 10 years
(b) 15 years
(c) 20 years
(d) Unlimited period

14. The current market price per share of New Age Limited is Rs. 80. The dividend expected a
year from now is Rs. 4 and it is expected to grow at a constant rate of 10 percent. The
floatation (issue) cost for the new issue will be 8 percent. What is the cost of new equity?
(a) 15.43 percent
(b) 15.00 percent
(c) 5.00 percent
(d) 0.43 percent

15. From the following, select the right option with reference to the working capital:
(a) Higher net working capital leads to higher liquidity and higher proditability
(b) According to hedging approach, current assets should be financed from long-term
sources.

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(c) There is an inverse relationship between the length of operating cycle of a firm and its
working capital requirements.
(d) Trade-off plan, in general, is considered an appropriate financing strategy for working
capital.

16. Banker sale of a mortgage portfolio by setting up a mortgage pass-through securities is an

example of:
(a) Credit enhancement
(b) Unbundling
(c) Derivatives
(d) Securitisation

17. In a statistical experiment. an effect size is described as:

(a) Effective testing of hypothesis
(b) Probable success of an experimental manipulation
(c) Quantitative measurement of the magnitude of the experimental effect
(d) Standardised measure of the magnitude of the effect observed in an experiment

18. Which one of the following is not an assumption of simple linear regression model?
(a) The set of expected values of the dependent variable y for given values of independent
variable x. are normally distributed.
(b) The standard deviation and variance of expected values of the dependent variable
about the regression line are constant for all values of the independent variable x for the
set of observations in a sample.
(c) The dependent variable y is a continuous random variable.
(d) The errors in the value of y are identical in successive observations.

19. A co-efficient of correlation having a value of +0.87 implies that -

(a) Co efficient of correlation is strong and positive.
(b) Co efficient of determination is extremely weak.
(c) The relationship between two variables is weak, but positive.
(d) The relationship between two variables is strong.

20. The standard error is a statistical measure of:

(a) The normal distribution of scores around the sample mean.
(b) The extent to which a sample mean is likely to differ from the population mean.
(c) The clustering of scores at each end of a survey scale.
(d) The degree to which the sample has been accurately stratified.

21. Which one of the following tools is not used for forecasting personnel needs (Labour
Demand) by an organization?
(a) Trend Analysis
(b) Markov Analysis
(c) Ratio Analysis
(d) Scatter Plot

22. According to Herzberg's Two Factor Theory, which one of the following is not a
maintenance factor?
(a) Affiliation or Acceptance
(b) Esteem or Status
(c) Security or Safety
(d) Physiological Needs

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23. Which one of the following is not an advantage of organization structure by territory?
(a) Makes control easy for top management
(b) Places responsibility at a lower level
(c) Improves coordination in a region
(d) Takes advantage of economies of local operations

24. Which one of the following motives characterizes dominant organizational climate of
university teaching departments/scientific organizations?
(a) Affiliation
(b) Extension
(c) Expert power
(d) Achievement

25. The banks wherein a majority of depositors are non-residents are called
(a) Cross Payment Banks
(b) Currency Banks
(c) Foreign Banks
(d) Offshore Banks

26. Which one of the following is an example of Secondary Reserves?

(a) Cash in hand and balances with other banks in current account
(b) Balances with RBI for CRR
(c) Investment in Commercial Paper
(d) Investment in Government Securities for SLR

27. Under which one of the following the Basel framework places restrictions on participation
by banks in system-wide credit booms with the aim of reducing their losses in credit
bust?
(a) Catastrophic Reserve Capital
(b) Countercyclical Capital Buffer
(c) Deferred Capital
(d) Conservative Preference Capital

28. Which one of the following is false with respect to interest rate structure in the Indian
money market?
(a) A very tight liquidity position will increase the call rates while excess liquidity will give
fairly low and stable rates.
(b) If the liquidity crunch of the banks is passed on to the system. it may lead to high
volatility in the call rates.
(c) Call rates under normal liquidity conditions are the cap rate for the term money
market.
(d) In a volatile call market situation. lending will yield high return and by selling Inter-
bank participation, the bank will have more money to play in the call market.

29. Which one of the following is a myth about rural markets

(a) All villages are not equally populated.
(b) Rural buyers are a heterogenous lot.
(c) Rural buyers are able to discriminate between products and brands.
(d) Only low priced products sell in rural markets.

30. In order to maintain its market share, a market follower can employ:

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(a) Counter feiting strategy
(b) Specialization strategy
(c) Counter offensive strategy
(d) Preemptive strategy

31. "Hospital administration may think that patients want better food, but patients may be
more concerned with nurse responsiveness"
Above statement pertains to which one of the following service gaps?
(a) Gap between consumer expectation and management perception.
(b) Gap between management perception and service-quality specification.
(c) Gap between service delivery and external communication.
(d) Gap between service-quality specifications and service delivery.

32. Dimensions of VALST™ framework to include which one of the following?

(a) Consumer motivation and consumer resources
(b) Consumer personality and consumer resources
(c) Consumer motivation and consumer preferences
(d) Consumer needs and consumer resources

33. If the subject matter of insurance is the ship, the marine insurance is called:
(a) Cargo insurance
(b) Hull insurance
(c) Freight insurance
(d) Voyage insurance

34. In case of a warranty, the buyer can:

(a) Repudiate the contract
(b) Claim damages only
(c) Return the goods
(d) Refuse to pay the price

35. If the information sought has been supplied by third party or is treated as confidential by
that third party, the third party must give a representation before the PIO in reply to the
notice issued to it within how many days from the date of receipt of such notice?
(a) 5 days
(b) 15 days
(c) 10 days
(d) 7 days

36. Which one of the following is not valid as per the Limited Liability Partnership Act. 2008?
(a) LLP shall maintain its books of accounts on double entry system and on cash or
accrual basis.
(b) LLP shall prepare a Statement of Account and Solvency for each financial year.
(c) Every LLP shall file an annual return with the Registrar of Companies
(d) Every LLP is a separate legal entity independent of its partners.

37. Under the Vivad se Vishwas Act. 2020 the amount payable by the declarant U/S 3 on or
after January 1, 2021 is:
(a) Amount of disputed tax
(b) The aggregate of the amount of disputed tax and 10% of disputed tax
(c) Amount of penalty and amount computed by CBDT.
(d) Average of tax arrears for last three assessment years.

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38. Presumptive taxation involves which one of the following?

(a) The use of indirect methods to calculate tax liability, which differ from the usual sales
based on the tax payers accounts.
(b) Transfer of tax liability from State to the Centre.
(c) Calculation of short term capital gain
(d) Calculation of rebate U/S 89.

39. Arm's length price computation method under 92 (C) of the Income Tax Act, 1961 does
not include which one of the following?
(a) Comparable uncontrolled price
(b) Transaction net margin
(c) Resale price
(d) Slum sale price method

40. Tax holiday under the Income Tax Act 1961 has been used in the context of which one of
the following?
(a) Section 80 LA
(b) Section 80 D
(c) Section 80 CCC
(d) Section 10(

41. Which of the following factors favour product standardization in the international
markets?
(A) High cost of adaptation.
(B) Variations in conditions of use.
(C) Country of origin effect.
(D) Economies in R&D.
(E) Differences in technical standards.
Choose the most appropriate answer from the options given below:
(a) (A) and (E) only
(b) (A). (C) and (D) only
(c) (A), (B), (C) and (D) only
(d) (C) and (D) only

42. Why do Central banks intervene to affect exchange rates?

(A) To influence domestic production
(B) To influence trade flows
(C) To influence domestic interest rates
(D) To inject liquidity in domestic markets
(E) To smoothen fluctuations in exchange rates.
Choose the most appropriate answer from the options given below:
(a) (A). (B) and (C) only
(b) (C). (D) and (E) only
(c) (B). (C) and (D) only
(d) (A), (B) and (E) only

43. Which of the following are thinly veiled disguises that essentially restrict imports?
(A) Voluntary import restrictions
(B) Labeling requirements showing origin and contents
(C) Import tarrifs and quotas
(D) Safety regulations for automobile and electrical equipments

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(E) Health regulations for hygiene production and packaging of imported food production
Choose the most appropriate answer from the options given below:
(a) (A). (B) and (C) only
(b) (B). (C) and (D) only
(c) (C), (D) and (E) only
(d) (B). (D) and (E) only

44. As per Section 68 of the Indian Companies Act, a company may purchase its own shares
out of which of the following?
(A) Free reserves
(B) Securities premium account
(C) General reserve
(D) Proceeds of any other shares
(E) Proceeds of same kind of shares
Choose the correct answer from the options given below:
(a) (A), (B). (C) and (E) only
(b) (A), (B), (C) and (D) only
(c) (B), (C). (D) and (E) only
(d) (A), (C), (D) and (E) only

45. Which of the following are key features of prudent accounting concepts and conventions?
(A) It includes revenues and profits in the accounts when they are realised.
(B) It prevents profits from being overstated.
(C) It prevents a trader from more withdrawing from the business than is wise.
(D) Managerial efficiency and expertise.
(E) Good customer relations.
Choose the most appropriate answer from the options given below:
(a) (C). (D) and (E) only
(b) (A), (D) and (E) only
(c) (B), (C) and (D) only
(d) (A). (B) and (C) only

46. Which of the following decision choices are valid in relation to marginal costing?
(A) Costing 'special' or 'one off opportunities.
(B) Deciding whether to make or buy a product.
(C) Most appropriate technique because of application of more automation in the industry.
(D) Choosing between competing alternative actions.
(E) Employing a penetration or destroyer pricing strategy.
Choose the correct answer from the options given below:
(a) (A). (B). (D) and (E) only
(b) (A). (B), (C) and (D) only
(c) (B). (C). (D) and (E) only
(d) (A). (D) and (E) only

47. A price ceiling below the equilibrium price possibly leads to which of the following?
(A) Black marketing
(B) Commodity glut
(C) Shortage of commodity
(D) Commodity export
(E) Price decline
Choose the correct answer from the options given below:
(a) (A) and (B) only

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(b) (D) and (E) only
(c) (A) and (C) only
(d) (A), (B) and (C) only

48. A prudent financial policy suggested by Marris Hypothesis to maximize balanced growth
of the firm is based on which of following financial ratios?
(A) Return on investment ratio
(B) Debt equity ratio
(C) Return on capital employed ratio
(D) Liquidity ratio
(E) Retention ratio
Choose the most appropriate answer from the options given below:
(a) (A). (B) and (C) only
(b) (B), (C) and (D) only
(c) (A). (C) and (D) only
(d) (B). (D) and (E) only

49. The qualified characteristics determining (constituting) consumer rationality includes

which of the following?
(A) Economic selfish motives
(B) Risk return optimiser
(C) Clarity of preferences.
(D) Possession of information
(E) Non-satiation of needs
Choose the most appropriate answer from the options given below:
(a) (A). (B) and (C) only
(b) (C). (D) and (E) only
(c) (A), (B). (C) and (D) only
(d) (A). (C). (D) and (E) only

50. Which of the following are key assumptions of Gordon's Dividend Model?
(A) Ke > br
(B) r and Ke are changing
(C) The firm is not all-equity firm
(D) The firm has perpetual life
(E) The retention ratio, once decided, is constant
Choose the correct answer from the options given below:
(a) (A), (D). (E) only
(b) (B), (C). (E) only
(c) (A), (B). (D) only
(d) (C) (D), (E) only

51. Which are the major factors that lead to capital rationing?
(A) Imperfection of capital market.
(B) Reluctance to broaden the equity share-base for the fear of losing control.
(C) Inability to manage.
(D) Deficiencies in market information which might affect the availability of capital.
(E) Efficiency of Capital Market.
Choose the correct answer from the options given below:
(a) (A), (B). (D) only
(b) (C), (D), (E) only
(c) (A), (B), (C), (E) only

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(d) (A), (B). (C). (D) only

52. Which of the following statements are correct?

(A) Internal reliability is described as the consistency of a measure taken at two different
points of time.
(B) A distribution is random walk if it has a mean of 0 and variance of 1.
(C) Increase and decrease in scores measured overtime that produce a variance of less
than 50% is reliable.
(D) Normal distribution cannot be applied to real life situations.
(E) Factor Analysis supersedes multiple discriminant analysis.
Choose the most appropriate answer from the options given below:
(a) (A), (B). (E) only
(b) (C). (D), (E) only
(c) (B). (C). (D) only
(d) (B). (D). (E) only

53. Choose the correct options regarding banking:

(A) Chain banking indicates the form of bank cartel that occurs when a small group of
people control atleast three banks that are independently chartered.
(B) PAN number is required for deposits in a commercial bank for Rs.50.000 and above.
(C) Upon detection of counterfeit notes at the counter, the bank can impound the note
and issue receipt.
(D) The interest rates on bank's contribution to Rural Infrastructure Development Fund is
fixed by NABARD.
(E) RBI Act. 1934 prohibits the making or issuing of a promissory note expressed to be
payable to the bearers thereof.
Choose the most appropriate answer from the options given below:
(a) (B). (D). (E) only
(b) (B), (C) only
(c) (A). (D). (E) only
(d) (A), (B), (C) only

54. Which of the following constructs hold true for research analysis and design?
(A) Research design is a framework for every stage of the collection and analysis of data.
(B) The choice between qualitative and quantitative methods in a research experiment
depends upon Cronbach alpha.
(C) Experiments as source of data is not appropriate for a qualitative study.
(D) Plagarism is the failure of researcher to acknowledge the borrowed material in his/her
publication.
(E) Content Analysis is a method commonly used in qualitative research to aid data
collection.
Choose the most appropriate answer from the options given below:
(a) (A), (B). (E) only
(b) (B), (C). (D) only
(c) (A), (C), (D). (E) only
(d) (B). (E) only

55. As per the Agency Theory of Corporate Governance, which of the following statements are
relevant?
(A) Governance approach is materialistic.
(B) Managers are motivated by the principal's objectives.
(C) Interests of the managers and principals converge.

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(D) Behaviour pattern is opportunistic
(E) Owner's attitude is to avoid risks.
Choose the most appropriate answer from the options given below:
(a) (A). (C). (E) only
(b) (B). (C). (D) only
(c) (B). (D). (E) only
(d) (A), (D). (E) only

56. From which of the following, employees derive authority?

(A) Position
(B) Experience
(C) Moral worth
(D) Past service
(E) Intelligence
Choose the most appropriate answer from the options given below:
(a) (A), (B) only
(b) (A), (E) only
(c) (B), (C), (E) only
(d) (A), (B). (C). (D), (E)

57. Which of the following statements are correct?

(A) The difference between sample variance and population variance computation is
replaced by .
(B) Cronbach alpha value less than 0.30 indicates reliability of research instrument.
(C) The value of R2 = 1 may imply that regression is spurious.
(D) The identical observation of sample and population parameters shows that every
sample can be substituted as population.
(E) Randomise control trial is a qualitative approach to research.
Choose the correct answer from the options given below:
(a) (C). (D), (E) only
(b) (A), (B), (C), (D) only
(c) (A). (C), (D). (E) only
(d) (B). (C). (D) only

58. A contract is discharged by supervening unpossibility under which of the following

situations?
(A) Destruction of subject matter
(B) Death or disablement of parties
(C) Rescission
(D) Remission
(E) Accord and satisfaction
Choose the most appropriate answer from the options given below:
(a) (A). (C) and (D) only
(b) (A) and (B) only
(c) (A), (B) and (E) only
(d) (C) and (D) only

59. Which of the following are the main platforms for social media?
(A) Search Engines
(B) Online communities and forums
(C) Blogs
(D) Social Networks

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(E) Web 1.0
Choose the correct answer from the options given below:
(a) (B). (C) and (D) only
(b) (B) and (D) only
(c) (B), (C), (D) and (E) only
(d) (A), (B), (C) and (D) only

60. Michael Porter has identified five forces that determine the intrinsic long-term
attractiveness of a market. According to the model, which of the following are true?
(A) A segment is unattractive if it already contains numerous aggressive competitors.
(B) A segment is unattractive if it is stable or declining.
(C) A segment is unattractive if it has high entry barriers and low exit barriers.
(D) A segment is unattractive if the company's suppliers are able to raise prices.
(E) A segment is unattractive when there are actual or potent substitutes for the product.
Choose the most appropriate answer from the options given below:
(a) (A) and (B) only
(b) (B) and (C) only
(c) (A). (C) and (D) only
(d) (A). (B). (D) and (E) only

61. Who among the following are indentified as the Key managerial personnel in the Indian
Companies Act, 2013?
(A) Chief Executive Officer
(B) Whole Time Director
(C) Company Secretary
(D) Chief Risk Officer
(E) Manager
Choose the most appropriate answer from the options given below:
(a) (A), (B) and (D) only
(b) (A) and (B) only
(c) (A). (B), (C) and (D) only
(d) (A), (B), (C) and (E) only

62. Which of the following are essentially anti-competetive agreements as per the Competition
Act. 2002 in India?
(A) Exclusive distribution agreement
(B) Resale price maintenance
(C) Exclusive supply agreement
(D) Non-compete agreement
(E) Tie-in agreement
Choose the correct answer from the options given below:
(a) (A). (B) and (C) only
(b) (C), (D) and (E) only
(c) (A), (B), (C) and (D) only
(d) (A), (B). (C) and (E) only

63. Rates of Income Tax under new regime applicable for financial year 2021-22 in India are:
(A) 5%
(B) 10%
(C) 12%
(D) 15%
(E) 20%

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Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (A). (B). (D) only
(c) (A), (B). (D). (E) only
(d) (B). (C), (D). (E) only

64. Under Indian Income Tax Act. in order to claim deduction of interest on home loan for
house property, which of the following things need to be taken care of?
(A) The home loan must be used for the purchase/construction of the house property.
(B) The loan must be taken on or after 1 April, 2019.
(C) The amount of loan must be used within 10 days from the date of loan taken.
(D) The purchase or construction must be completed within 5 years from the end of
Financial Year in which the loan was taken.
(E) The rate of interest on loan cannot exceed 22%.
Choose the most appropriate answer from the options given below:
(a) (A). (B). (D) only
(b) (A). (C). (D). (E) only
(c) (B). (C). (D). (E) only
(d) (A) and (D) only

65. Under Indian Income Tax Act, allowances which are non-taxable for the individual
assessee are:
(A) Sumptuary allowances.
(B) Compensatory allowance paid to judges.
(C) Overtime allowance.
(D) Allowances paid to Govt. employees posted abroad
(E) Non-practicing allowance.
Choose the most appropriate answer from the options given below:
(a) (A), (B). (D). (E) only
(b) (A), (C), (D). (E) only
(c) (A). (B). (D) only
(d) (A), (B), (C). (D), (E)

66. Match List I with List II:

List I- International Trade Theories List II-Expounders
(A) Absolute Advantage (I) David Ricardo
(B) Factor Endowments (II) Minhas. Leontief et. al.
(C) Factor-Intensity Reversal (III) Adam Smith
(D) Comparative Advantage (IV) Heckscher - Ohlin
Choose the correct answer from the options given below:
(a) (A)-(III). (B)-(II). (C)-(IV). (D)-(I)
(b) (A)-(III). (B)-(IV), (C)-(II). (D)-(I)
(c) (A)-(I). (B)-(IV). (C)-(II). (D)-(III)
(d) (A) (III). (B)-(I). (C)- (II). (D) (IV)

67. Match List I with List II:

List II- Topic List IInd AS
(A) Ind AS 1 (I) Income Taxes
(B) Ind AS 12 (II) Related Party Disclosures
(C) Ind AS 24 (III) Intangible Assets
(D) Ind AS 38 (IV) Presentation of Financial Statements
Choose the correct answer from the options given below:
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(a) (A)-(I). (B)-(II). (C)-(III). (D)-(IV)
(b) (A)-(IV), (B)-(I). (C)-(II). (D)-(III)
(c) (A)-(IV). (B). (III), (C)-(II). (D)-(1)
(d) (А)-(I). (B)-(IV). (C)-(I). (D)-(II)

68. Match List I with List II:

List I-Nature of goods List II - Income Elasticity (Ei) of demand
(A) Normal goods. (I) E is greater than one
(B) Inferior goods (II) E is greater than zero
(C) Luxury goods (III) Ei is between zero and one
(D) Necessities (IV) Ei is less than zero
Choose the correct answer from the options given below:
(a) (A)-(II). (B)-(IV), (C)-(I). (D)-(III)
(b) (А)-(Ш). (B)-(I). (C)-(IV). (D)-(II)
(c) (A)-(II), (B)-(I). (C)-(III). (D)-(IV)
(d) (А)-(Ι). (”)-(II). (C)-(II), (D)-(IV)

69. Match List I with List II:

List I-Type of Exposure List II-Description
(A) Economic Exposure (I) Potential changes in all future cash flows of a firm that
result from unanticipated changes in exchange rates.
(B) Translation Exposure (II) It arises when items of financial statements that are
stated in foreign currencies are restated in the home
currency of an MNC.
(C) Transaction Exposure (III) It arises when a firm's contract obligations are exposed to
unanticipated changes in exchange rate.
(D) Operating Exposure (IV) When a firm's real assets are exposed to unanticipated
changes in exchange rates.
Choose the correct answer from the options given below:
(a) (A)-(III), (B)-(IV), (C)-(II). (D)-(I)
(b) (A)-(I). (B)-(II). (C)-(III), (D)-(IV)
(c) (А)-(IV). (B)-(b), (C)-(II). (D)-(I)
(d) (A)-(I), (B)-(IV). (C)-(III), (D)-(II)

70. Match List I with List II:

List I-Statistical Distribution List II-Characteristical Expression
(A) Negatively Skewed Distribution (I) Mean = Mode P(x <= mu) = 0.5
(B) Positively Skewed Distribution (II) overline x > Me * dian > Mode P > 0.5
(C) Binomial Distribution (III) overline x < Me * dian < Mode
(D) Normal Distribution (IV) overline x > Me * dian > Mode
Choose the correct answer from the options given below:
(a) (A)-(Ш). (B)-(I). (C)-(II). (D)-(IV)
(b) (“)-(Ι). (”)-(ΙΙ). (C)-(III). (D)-(IV)
(c) (А)-(a). (В)-(II). (C)-(IV). (D)-(I)
(d) (A)-(III). (B)-(IV). (C) - (II) (D)-(I)

71. Match List I with List II:

List I-Personality Factor List II Bipolar Dimension
(A) Warmth (I) Imaginative vs practical
(B) Abstractedness. (II) Controlled vs casual

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(C) Openness to change (III) Outgoing vs reserved
(D) Perfectionism (IV) Experimental vs conservative
Choose the correct answer from the options given below:
(a) (A)-(II). (B)-(I). (C) (IV). (D)-(III)
(b) (“)-(III). (”)-(I). (C)-(IV). (D)-(II)
(c) (A)-(D. (B)-(IV). (C)-(III). (D)-(II)
(d) (A)-(III). (B)-(II), (C)-(IV). (D)-(I)

72. Match List I with List II:

List I-Description List II - Conceptualisation
(A) Net Stable Funding Ratio (I) Asset Liability Management
(B) Innovative Perpetual Debt Instrument (II) Tier - I capital
(C) Time Maturity Gap (III) Tier II capital
(D) Risk Weighted Assets (IV) Basel III norms
Choose the correct answer from the options given below:
(a) (A)-(IV). (B)-(II), (C)-(I). (D)-(III)
(b) (A)-(I). (B)-(IV). (C)-(II). (D)-(II)
(c) (А)-(II). (В)-(b). (C)-(IV), (D)-(I)
(d) (A)-(IV). (”)-(III), (C)-(II), (D)-(I)

73. Match List I with List II:

List I - Promotional Campaign List II Company
(A) #StayStrong Moms (I) Pepsico India
(B) #Jeet KiOre (II) Hindustan Uniliver (HUL)
(C) # Lets unstereotypeIndia (III) Indian Tobacco Company (ITC)
(D) #Freedomtolove (IV) Brooke Bond India
Choose the correct answer from the options given below:
(a) (А)-(ΠΙ). (”)-(Ι). (C) (IV). (D)-(II)
(b) (А)-(II), (B)-(IV), (C)-(I), (D)-(III)
(c) (A)-(II). (B)-(I). (C)-(III). (D)-(IV)
(d) (A)-(I). (B)-(II). (C)-(IV). (D)-(II)

74. Match List I with List II:

List I-Legal Latin Phrase List II- Description
(A) Consensus ad idem (I) Something in return
(B) Quid pro quo (II) As much as earned
(C) Quantum meruit (III) Buyer beware
(D) Caveate emptor (IV) Meeting of minds
Choose the correct answer from the options given below:
(a) (А)-(I), (”) (II), (C) (IV), (D). (II)
(b) (A)-(IV), (B)-(I). (C)-(II). (D) (IID
(c) (A)-(II). (B)-(1). (C)-(III). (D)-(IV)
(d) (A)-(I). (B)-(IV). (C)-(II), (D)-(III)

75. Match List I with List II:

List I-Income Tax Disposition List II-Particular/Section
(A) Donation to National Defence Fund (I) Section 140 (A)
(B) Hedging of Tax (II) Tax Management
(C) Compliance with Legal Formalities (III) Tax Avoidance
(D) Permanent Account Number (PAN) (IV) 100% Deduction
List I-Income Tax Disposition List II-Particular/Section
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Choose the correct answer from the options given below:
(a) (А) (III). (B) (II), (C) (1), (D) (IV)
(b) (A)-(IV), (B)-(III). (С)-(II). (D)-(I)
(c) (“)-(II). (B)-(I). (C)-(III), (D)-(IV)
(d) (A)-(1), (B)-(IV), (C)-(II), (D)-(III)

76. Arrange the following negotiation rounds of WTO (World Trade Organisation) in reverse
chronological order:
(A) Uruguay Round
(B) Geneva Round
(C) Kennedy Round
(D) Doha Round
(E) Tokyo Round
Choose the correct answer from the options given below:
(a) (A). (C). (D), (B). (E)
(b) (D). (A). (E). (C). (B)
(c) (B). (A). (C). (E). (D)
(d) (D). (E). (A), (C), (B)

77. What will be the sequence of steps involved in Net Benefit Model of Human Resource
Accounting?
(A) The gross value of services to be rendered in future by the employee in their individual
as well as their collective capacity is determined.
(B) The excess of the value of future human resources over the value of future payments is
ascertained.
(C) The present value of the net benefit is determined by applying a pre-determined
discount rate.
(D) The value of future payments to the employees is determined.
(E) The amount calculated under 'C' will be the value of human resources to the
organisation.
Choose the correct sequence from the options given below:
(a) (A) .(D),(B).(C),(E)
(b) (A) .(B).(C),(D).(E)
(c) (A), (C). (D). (”). (Ε)
(d) (B). (A), (C). (D). (E)

78. Logically sequence the following economic entities/identities in understanding the theory
of consumer choice:
(A) Budget line
(B) Utility analysis
(C) Demand curve analysis
(D) Indifference curve analysis
(E) Consumer equilibrium
Choose the correct answer from the options given below:
(a) (D) -> (E) -> (A) -> (B) -> (C)
(b) (B) -> (D) -> (A) -> (E) -> (C)
(c) (B) (C) -> (D) -> (A) -> (E)
(d) (B) -> (D) -> (A) -> (C) -> (E)

79. Arrange the following steps in the process of GDR Issues:

(A) Registration with prescribed authority
(B) Appointment and vesting of shares with the custodian

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(C) Approval of the regulatory authorities
(D) Listing of GDR
(E) GDR allotment
Choose the correct answer from the options given below:
(a) (C), (A), (B), (E). (D)
(b) (A), (B). (C). (D). (E)
(c) (A). (C), (B). (E). (D)
(d) (B). (A), (C). (D). (E)

80. Sequentially arrange the following themes related to globalization of Indian businesses
since independence:
(A) FDI in various sectors opened along with slashing of custom duties.
(B) Partial opening of economy to external trade and de licensing of some key sectors.
(C) Govt.-led investments in large public sector units in steel, chemicals and power.
(D) Indian businesses became competitive and started to reap rewards of various phases
of development learning.
(E) Increased government involvement in industry with sustained focus on import
substitution.
Choose the correct answer from the options given below:
(a) (C), (E), (B), (D) A)
(b) (E), (C). (B). (A), (D)
(c) (C), (E). (B). (A). (D)
(d) (A), (C) (E). (B), (D)

81. Arrange the following stages of delegation in correct sequence:

(A) Establish proper controls.
(B) Select the person in light of the job to be done.
(C) Reward effective delegation and successful assumption of authority.
(D) Define assignments and delegate authority in light of results expected.
(E) Maintain open lines of communication.
Choose the correct answer from the options given below:
(a) (A), (B), (C), (E), (D)
(b) (B). (D). (E). (A), (C)
(c) (D). (B). (E). (A). (C)
(d) (C). (D). (B). (E). (A)

82. Pricing of housing loan by a commercial bank may follow the following steps in a logical
sequence:
(A) Competitive price determination
(B) Specification of spread
(C) Application of MCLR
(D) Conduct of Credit Assessment
(E) Quoting to prospective borrower
Choose the correct answer from the options given below:
(a) (C), (B), (A), (D), (E)
(b) (A) (B). (D). (C). (E)
(c) (B). (A). (D). (E). (C)
(d) (D), (C), (B). (A), (E)

83. A company should undergo a step wise process before selecting a final price. Accordingly.
arrange the following steps of pricing-policy process to help XYZ company to decide the
final price of its product.

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(A) Selecting the pricing method.
(B) Examining competitor's costs, prices and offers.
(C) Estimating the demand curve and the probable quantities company will sell at each
possible price
(D) Selecting the pricing objective of the company.
(E) Estimating costs for different levels of output. for different levels of accumulated
production experience, and for differentinted marketing offers.
Choose the correct answer from the options given below:
(a) (D) .(B).(E), (C), (A )
(b) (D). (C). (E). (B), (A)
(c) (A), (B), (C). (E). (D)
(d) (A). (D). (E), (C), (B)

84. Sequence the following in copyright ecosystem for literary creation under the Indian
Copyright Act. 1957:
(A) Public communication
(B) Copyright assignment
(C) Content development
(D) Relinquish copyright
(E) Copyright transmission
Choose the correct answer from the options given below:
(a) (A) -> (E) -> (B) -> (D) -> (C)
(b) (C) -> (A) -> (B) -> (E) -> (D)
(c) (E) -> (C) -> (B) -> (D) -> (A)
(d) (B) -> (C) -> (E) -> (A) -> (D)

85. Steps involved in computation of Book Profit under MAT regime are as follows:
(A) Arrive NP as per statement of P/L A/C of the company.
(B) Specific adjustments in case of merger.
(C) Make adjustments pertaining to OCI items.
(D) Adjust the book profit with stipulated exclusion and inclusion.
(E) Net amount of Book Profit for application of MAT rate
Choose the correct sequence from the options given below:
(a) (A) .(D).(B).(C).(E)
(b) (A), (B), (D). (C). (E)
(c) (A), (C), (B), (D), (E)
(d) (A), (B), (C), (D), (E)

86. Given below are two statements:

Statement I: Policies are guides to action, rather than to thinking.
Statement II: Policies define an area within which a decision is to be made.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorect
(d) Statement I is incorrect but Statement II is correct

87. Given below are two statements:

Statement I: Display of goods by a shopkeeper with prices marked on them, is not an offer
but an invitation to the public to make an offer to buy the goods.

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Statement II: Price quotations, catalogues and advertisements in newspaper for sale of an
article do constitute a valid offer.
In the light of the above statements. choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

88. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R):
Assertion (A): Capital structure is determined within debt capacity of a company and it
should not be exceeded.
Reason (R): Debt capacity of a company depends on its ability to generate cash flows. It
should generate cash enough to pay lenders fixed charges and principal sum.
In the light of the above Statements, choose the most appropriate answer from the options
given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(b) Rath(A) and (R) are correct but (R) is NOT the correct explanation of (A)
(c) (A) is correct but (R) is not correct
(d) (A) is not correct but (R) is correct

89. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R):
Assertion (A): Substitution effect is usually much larger than the income effect.
Reason (R): Consumer usually spends only a small portion of her/his income on any one
commodity.
In the light of the above Statements, choose the correct answer from the options given
below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A)
(b) Both (A) and (R) are true but (R) is NOT the correct explanation of (A)
(c) (A) is true but (R) is false
(d) (A) is false but (R) is true

90. Given below are two statements:

Statement I: Marketing managers must calculate customer lifetime values of their
customer base to understand their profit implications.
Statement II: Activity-based costing. an accounting technique, is very useful for
conducting customer profitability analysis.
In the light of the above Statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

1) Read the following passage and answer the question.

GOI has reaffirmed its intent in amendments to the Finance Bill to use tax as a deterrent
to speculation in virtual digital assets. The amendments disallow losses on the sale of one
crypto asset to be set off against gains on another. No deduction is permitted for any
expenditure other than the cost of acquisition for computation of income from sale of
cryptos and non-fungible tokens (NFTs). Every transfer of crypto assets will be taxed at

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the proposed 30% rate, irrespective of whether they are a capital asset or not. Only the
proposed 1% rate of tax deducted at source will apply to transactions in digital assets.
Penalties have been imposed for taxpayers who have claimed a deduction of surcharge
and cess from their taxable income, but have not, on their own accord, paid the tax and
interest on the deduction they have claimed
The inability to set off losses will skew the risk-reward profile of digital assets, and crypto
exchanges fear it could push trading activity beyond Indian jurisdiction to decentralized
exchanges and foreign platforms accessed through virtual private networks. The industry
feels not allowing tax deduction on the costs of mining cryptos will eventually force
blockchain companies and the talent they hire to operate outside the country. To the
extent that the proposed tax regime drives users from exchanges compliant with know-
your-customer (KYC) rules towards underground peer-to-peer platforms, deterrence would
be diluted.
Nirmala Sitharaman, in her statement while moving the amendments, has clarified the
tax on private digital assets does not indicate Gol's stance on their legitimacy. The
regulatory position could become clearer once the Reserve Bank of India (RBI) is ready
with its digital currency. Fiat digital currencies, which make transactions and monetary
transmission more efficient, are inevitable as the use of cash plateaus in several
countries. Speculation, and a reflex to curb it, must not draw attention away from the
inherent superiority of digital currencies. This is the future of money.

91. Which one of the following is done by the Digital Currency Regulatory Framework?
(a) Eventually force blockchain companies to operate from outside.
(b) Attract users towards exchanges which are compliant with know-your-customer rules.
(c) Motivate the operators to operate outside the country.
(d) Promote underground peer to peer crypto platforms.

92. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R):
Assertion (A): Crypto exchanges fear that the new amendments could push trading activity
beyond Indian jurisdiction to decentralized exchanges.
Reason (R): The new amendments disallow losses on the sale of new crypto asset to be set
off against gains on another.
In the light of the above Statements. choose the most appropriate answer from the options
given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
(c) (A) is correct but (R) is not correct
(d) (A) is not correct but (R) is correct

93. Government of India's intent towards virtual digital assets is which one of the following?
(a) To promote speculation
(b) To be silent on speculation
(c) To discourage speculation
(d) To stop speculation

94. Given below are two statements:

Statement I: Non-fungible tokens cannot be splitted.
Statement II: Non-fungible tokens can be replicated at convenience.
In the light of the above Statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct

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(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

95. Digital currency regulations will result into which one of the following?
(a) Scare digital currencies away.
(b) Permit deduction of any expenditure other than the cost of acquisition for computation
of income.
(c) Impose penalties for tax payers who have claimed a deduction of surcharge and cess
from their taxable income.
(d) Attract 30% tax on every transfer of crypto asset.

1) Read the given passage and answer the question.

Naik. AGM Materials, is fuming and fretting. He bumped into Kamath. GM (Materials),
threw the resignation letter on his table, shouted and walked out of the room swiftly.
Naik has reason for his sudden outburst. He has been driven to the wall. Perhaps, details
of the story will tell the reasons for Naik's bile and why he put in his papers, barely four
months after he took up his present assignment.
The year was 2021 when Naik quit the prestigious SAIL plant at Vishakapatnam. As a
manager materials. Naik enjoyed powers he could even place an order for materials worth
Rs. 25 lakh. He needed nobody's prior approval Naik joined a pulp-making plant located
at Harihar in Karnataka, as AGM Materials. The plant is a part of the multi product and
multiplant conglomerate owned by a prestigious business house in India.
Obviously, perks, designation and reputation of the conglomerate lured Naik away from
the public sector steel monolith.
When he joined the eucalyptus pulp making company. little did Naik realise that he
needed prior approval to place an order for materials worth Rs. 12 lakh. He had presumed
that he had the authority to place an order by himself worth half the amount of what he
used to do at the mega steel maker. He placed the order. materials arrived, were received.
accepted and used up in the plant.
Trouble started when the bill for Rs. 12 lakh came from the vendor. The accounts
department withheld payment for the reason that the bill was not endorsed by Kamath.
Kamath refused to sign on the bill as his approval was not taken by Naik before placing
the order.
Naik felt fumigated and cheated. A brief encounter with Kamath only aggravated the
problem. Naik was curtly told that he should have known company rules before venturing.
Naik decided to quit.

96. As per the passage. who is at fault?

(a) Mr. Naik
(b) Mr. Kamath
(c) Both Mr. Naik and Mr. Kamath
(d) Human Resource Department

97. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R);
Assertion (A): It was right on the part of accounts department to withheld payment.
Reason (R): Mr. Naik had the authority to place the order for materials worth Rs.25 lakh.
In the light of the above Statements, choose the correct answer from the options given
below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A)
(b) Both (A) and (R) are true but (R) is NOT the correct explanation of (A)

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(c) (A) is true but (R) is false
(d) (A) is false but (R) is true

98. What is the most ineffective in the organisation?

(a) Recruitment policy
(b) Selection policy
(c) Induction programme
(d) Promotion policy

99. The job of AGM materials is to

(a) Place order
(b) Receive material
(c) Inspect material
(d) Issue material

100. Given below are two statements:

Statement I: Mr. Naik's presumption that he could place an order for materials worth
Rs.25 lakh was right.
Statement II: Perks and reputation of the conglomerate were the reasons for Mr. Naik
joining the eucalyptus pulp making company.
In the light of the above Statements. choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

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

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UGC NET COMMERCE PAPER 2 2021 SHIFT-1

1. Which is the most potent driver of business transformation during Covid - 19 pandemic?
(a) Ethical consciousness
(b) Scale economies and pricing power
(c) Technology adoption and innovation
(d) Supply chain logistics and government interventions

2. Counter Vailing Duties (CVD) are often imposed on imports to offset the impact of
(a) Predatory pricing
(b) Export subsidies
(c) Dumping
(d) Low cost financing

3. To prevent opportunistic takeover of domestic firms amid Covid 19 pandemic, Foreign

Direct Investment (FDI) from countries that share borders with India is allowed through
(a) Automatic route
(b) Government route
(c) FIPB route
(d) DPIIT route

4. Factor conditions in Michael Porter's competitive advantage of Nations include

(a) Market size
(b) Demand conditions
(c) Internationally competitive suppliers
(d) Skilled labour and scientific knowledge

5. In case the purchasing company agrees to act as the agent of the vendor for collection of
the book debts, in the books of the purchasing company, the amount of debtors should be
credited to
(a) Vendor's debtors account
(b) Vendor's suspense account
(c) Debtors account
(d) Creditors account

6. When the value of "Investment in subsidiary" in the holding company's balance sheet is
more than the book value of the net assets acquired, the difference represents
(a) Capital reserve on consolidation
(b) Goodwill on consolidation
(c) Minority interest
(d) Post acquisition profit

7. The basic method of valuing human assets is

(a) Amortization
(b) Adjustment
(c) Capitalization
(d) Quasi equity

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8. X and Y are partners, sharing profits and losses in the ratio of 4: 3. They admit Z into the
partnership for th share. X and Y decide to share future profits in the ratio of 2 : 1. What
is the sacrificing ratio of X and Y?
(a) 4:3
(b) 13:8
(c) 8:13
(d) 4:17

9. The value of the firm in wealth maximisation objective is measured by

(a) Present value of all expected future cash flows
(b) All expected future cash flows
(c) Present value of all expected future profits
(d) All expected future profits

10. For a decline in price, total revenue declines if the demand of the product is
(a) Inelastic
(b) Elastic
(c) Unitary elastic
(d) Zero elastic

11. In Cobb - Douglas production function, Q = AKa Lb increasing returns to scale occurs
when
(a) a+b>1
(b) K+L>1
(c) a + b<1
(d) K+L<1

12. The extreme case of non-price competition in an Oligopoly is

(a) Formation of cartels
(b) Interdependent decision-making
(c) Attaining economies of scale
(d) Formation of duopoly

13. Pecking order theory in finance is based on the assertion of

(a) Asymmetric information between managers and investors
(b) Symmetric information between managers and investors
(c) Outside information
(d) Asymmetric information among investors only

14. If a project cost is 40.000. Its stream of earning before depreciation and tax during first
year through five years is expected to be₹10,000,12,000 14,000 16.000 and 20,000.
Assume a 50% tax rate and depreciation on straight line basis; project's ARR is
(a) 14.40%
(b) 72%
(c) 16%
(d) 55.56%

15. According to the theory of dividend, the firm should follow its investment policy of
accepting all positive NPV projects and paying out dividends if and only if. funds are
available:
(a) Bird in hand theory
(b) Investor rationality theory
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(c) 100 percent retention theory
(d) Residual theory

16. In Securitisation when no assets are acquired and the collateral is fixed for the life of the
asset, the type of a structure is called as
(a) Revolving structure
(b) Amortized structure
(c) Collateralized structure
(d) Self-liquidating strucutre

17. For a very large sample size the ratio between S E overline X and is 8/40 Determine the
sample size n:
(a) 25
(b) 5
(c) 4
(d) 16

18. For a given set of paired data, the correlation and regression coefficients have been
calculated as being equal to r, bxy and byx respectively. Now, each of the values of the x
series is divided by 5. What effect does it have on each of these coefficients?
(a) The three co-efficients remain unchanged
(b) There is no change in r but by x changes to byx / 5 and bxy changes to 5 bxy
(c) Each of the co-efficients will be reduced to one fourth of its value.
(d) There is no change in r but byx changes to 5byx and bxy changes to bxy / 5

19. Which of the following statement is correct?

(a) Co - efficientofvariance = C.V = σ/x× 100
(b) If value in a series are negative, the standard deviation is also negative
(c) If value in a series multiplied by o, the variance would be multiplied by 36
(d) Standard deviation is equal to square of variance.

20. For a poisson distribution variable X, P(X = 0) = 2P(X = 1) its standard deviation would be:
(a) sqrt(b)
(b) 0.5
(c) sqrt(0.5)
(d) 2

21. A test that contains a fair sample of the tasks and skills actually needed for the job in
question is:
(a) Construct validity
(b) Content validity
(c) Test validity
(d) Criterion validity

22. Which among the following is not a primary determinant of organizational structure?
(a) Chain and span
(b) Capacity and lower needs
(c) Power and control
(d) Differentiation and integration

23. An act in a way that results in the greatest good for the greatest number is:
(a) The golden rule

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(c) The four way test
(b) The utilitarian principle
(d) Kant's categorical imperative

24. People repeat behaviours that bring them satisfaction and pleasure and stop those that
bring them dissatisfaction or pain is known as:
(a) Law of exercise
(b) Law of redo
(c) Law of effect
(d) Law of readiness

25. Which one of the following statements is true about under the Basel I Accord, BCBS, fixed
the minimum requirement of capital fund for banks at?
(a) 8 percent of the total risk weighted assets.
(b) 9 percent of the total risk weighted assets
(c) 10 percent of the total risk weighted assets
(d) 1000 crore

26. Which of the following statements is correct relating to Indian Financial System?
(a) RBI has direct supervision over depositoriess and mutual funds.
(b) Monetary control is exercised through cash reserve ratio and statutory liquidity ratio.
(c) Primary dealers mainly deal in shares, mutual fund units.
(d) The decrease in statutory liquidity ratio contracts the credit creation.

27. Which one of the following is not one of the advantages of Derivatives market?
(a) Leveraging increases risk
(b) They enhance liquidity in the market for underlying assets
(c) They represent a form of insurance against risks
(d) They reduce price volatility

28. Which one of the following statements is not true about Indian Money Market?
(a) Non-Banking Finance Companies (NBFCs) are financial institutions that constitute
organised component of money market.
(b) Money market mutual funds are allowed to sell units to corporates and individuals.
(c) A Well - developed money market is essential for a modern economy.
(d) In the Indian Money Market, the predominant place is enjoyed by government and
semi government securities.

29. Which of the following is not true while determining length of distribution channel?
(a) The larger the market size, the longer the channel.
(b) If the average lot size is large, it is better to have a longer channel.
(c) If the product and the market require a high level of service, it is advisable to keep a
shorter channel.
(d) If customers shop for an assortment of products, it demands for a water channel of
distribution.

30. Which of the following can be categorized as people processing services?

(a) Health care
(b) Legal services
(c) Education
(d) Transportation

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31. SBUs or products that have lost their position of leadership and are in the low growth
markets, are known as
(a) Star
(b) Problem child
(c) Dog
(d) Cash cow

32. Which of the following is not a valid basis for market segmentation?
(a) Customer Based Segmentation
(b) Technology Oriented Segmentation
(c) Competition Related Segmentation
(d) Product Related Segmentation

33. Which one of the following statements is a promissory note?

(a) I promise to pay Q Rs. 7.000, 7 days after my marriage.
(b) On demand. I promise to pay B or bearer Rs. 5,000
(c) I promise to pay Rs. 5,000 on C's death provided C leaves with me enough money to
pay that sum.
(d) I acknowledge to be indebted to you for Rs. 10,000 to be paid on demand for value
received.

34. A claim for 'quantum meruit cannot succeed:

(a) When a divisible contract is partly performed.
(b) When an indivisible contract for a lumpsum is partly performed.
(c) When a contract is discovered to be unenforceable due to some technical defect.
(d) In the case of breach of contract, the aggrieved party can claim reasonable
compensation for what he has done under the contract.

35. The first offence for infringement of copyright can be for a maximum of imprisonment for
a term of
(a) 6 month and a fine of Rs. 20.000
(b) 3 years and a fine of Rs. 50.000
(c) 3 years and a fine of Rs. 2,00.000
(d) 1 year and a fine of Rs. 3.00.000

36. Which one of the following conditions does not constitute a valid agency by necessity?
(a) There should have been actual and definite commercial necessity for the agent to act
promptly.
(b) The agent should have acted bonafide and for the benefit of the principal.
(c) The agent should have adopted the most reasonable and practicable course under the
circumstances.
(d) Destruction of the subject matter of the contract of agency.

37. If assesssee is engaged in the business of growing and manufacturing tea in India, the
non-agricultural income in that case be:
(a) 40% the income from such business
(b) 25% the income from such business
(c) 60% the income from such business
(d) 75% the income from such business

38. AMT provisions are applicable on:

(a) Corporate assessee

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(b) Non Corporate assessee
(c) HUF
(d) An Individual

39. X. an employee of the private company, gets Rs.30,000 p.m. basic salary and entitled to
Rs.1.500 p.m. as entertainment allowance. What are the deductions u/s 16(ii) from gross
salary in respect of entertainment allowance?
(a) Rs.5.000
(b) Rs.18,000
(c) Rs.72.000
(d) Nil

40. Which of the following provident fund is approved by the provident fund commissioner?
(a) Statutory provident fund
(b) Recognised provident fund
(c) Unrecognised provident fund
(d) Public provident fund

41. Which of the following institutions are included in the 'World Bank Group?
(A) International Finance Corporation
(B) International Monetary Fund
(C) World Trade Organization
(D) Multilateral Investment Guarantee Agency
(E) International Development Association
Choose the correct answer from the options given below:
(a) A. B and C only
(b) A. B and D only
(c) A. B. D and E only
(d) A. D and E only

42. Corporate social responsibility is the continuing commitment by business to behave

ethically and contribute to
(A) Political awareness, social security and inclusion
(B) Public health, education and literacy
(C) Maintaining ecological balances and protecting environment
(D) Gender diversity, profiteering and market controlling
(E) Rendering. Sponsoring and donating to social and charitable activities
Choose the correct answer from the options given below:
(a) A. B and D only
(b) B. C and E only
(c) C, D and E only
(d) A. B and C only

43. Firm characteristics that help managers identify core compentencies include:
(A) Potential access to wide variety of markets
(B) Significantly contribute to the perceived customer benefits
(C) Value accretive and non competitive
(D) Distinctive and difficult for competitors to imitate
Choose the most appropriate answer from the options given below:
(a) A, B and C only

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(b) B, C and D only
(c) A. B and D only
(d) A. C and D only

44. Which of the following distinction(s) is/are not correct between public issue and rights
issue?
(A) In public issue, applications for shares are invited from the general public and in
rights issue, the shares are offered to existing shareholders.
(B) In public issue there is no question of any over-subscription and in rights issue the
shares may be under subscribed or over subscribed leading to prorata allotment.
(C) The price of public issue is generally less than the market price and in rights issue,
the price is deliberately made less than the market price.
(D) In a public issue, the communication of the issue is through prospects or
advertisements and in rights issue the communication is between the company and the
existing members of the company.
Choose the most appropriate answer from the options given below:
(a) B only
(b) D only
(c) A and C only
(d) C and D only

45. According to AS-2, which of the following costs should be included in valuing the
inventories of a manufacturing company?
(A) Freight and insurance
(B) Carriage outwards
(C) Depreciation of factory plant
(D) General administrative overheads
Choose the most appropriate answer from the options given below:
(a) A and D only
(b) A, B and D only
(c) B and C only
(d) A and C only

46. Which of the following 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
Choose the most appropriate answer from the options given below:
(a) A and C only
(b) A and D only
(c) B and D only
(d) A, B and C only

47. Characteristics constituting the core of consumers rationality includes:

(A) Homogeneous expectations
(B) Non - satiation
(C) Selfish motive
(D) Clarity of preferences
(E) Possession of information
Choose the correct answer from the options given below:

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(a) A, B and C only
(b)B, C and D only
(c) A, B, C and D only
(d) B, C, D and E only

48. Why is an indifference curve convex to the origin?

(A) Indifference curve slope downward to the right
(B) Two commodities are imprefect substitutes
(C) Declining marginal rate of substitution between commodities
(D) Diminishing marginal utilities
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) C and D only
(d) A and D only

49. Financial crises takes the form of

(A) Currency crisis
(B) Banking crisis
(C) Systematic financial crisis
(D) Foreign debt crisis
Choose the correct answer from the options given below:
(a) A, B, C only
(b) A, B, D only
(c) B, C, D only
(d) A, B, C, D only

50. Following are the problems that mar an optimal international diversification:
(A) Unfavourable exchange rate movements
(B) Frictions in international markets
(C) Manipulation of security prices
(D) Unequal access to information
Choose the most appropriate answer from the options given below:
(a) A, B, C only
(b) B, C, D only
(c) A, C, D only
(d) A, B, C, D only

51. Which of the following statement is correct about Mann-Whitney U - test?

(A) It is non parametric test
(B) It requires that samples are independent
(C) It can be used when populations involved are normally distributed
(D) It is used to test the null hypothesis that the two populations are involved are
identical.
(E) It is always a two tailed test.
Choose the correct answer from the options given below:
(a) A, B, D only
(b) A, C, D only
(c) A, D, E only
(d) A, B, E only

52. Which of the following are correct about complementary events?

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(A) Mutually exclusive
(B) Independent
(C) Such that their probabilities add up to 1.
(D) Collective exhaustive.
Choose the most appropriate answer from the options given below:
(a) A, B, C only
(b) A, B, D only
(c) B, C, D only
(d) A, C, D only

53. Which of the following statements are correct about Chi-Square test?
(A) The only parameter of a Chi Square distribution is its number of degrees of freedom.
(B) The null hypothesis in given Chi - Square test is rejected when calculated value of
variable exceed its critical value.
(C) The rejection region in a goodness of fit test lies only in the right tail of the
distribution.
(D) The Chi-Square test is a parametric test.
(E) At a=.05 and V = 1 the critical value of x2 is equal to Z-value at the same level of
significance.
Choose the most appropriate answer from the options given below :
(a) B, D, E only
(b) A, C, E only
(c) A, B, C only
(d) B, C, D only

54. The principles of management have the following distinct features:

(A) Flexibility
(B) Universal application
(C) Principles are relative, not absolute
(D) Based on situation.
Choose the most appropriate answer from the options given below:
(a) A, B only
(b) B. C only
(c) A, C, D only
(d) A, B, C, D

55. Use of interviews as a training needs assessment technique has the following advantages:
(A) Questions can be modified
(B) Easy to analyze
(C) Can explore unanticipated issues that come up
(D) Less time consuming
Choose the most appropriate answer from the options given below:
(a) A, B only
(b) B. C only
(c) A, C only
(d) B, C, D only

56. The advantages of incentive payments are

(A) Ease in the introduction of new machines
(B) Better utilization of equipment
(C) Reduced absenteeism and turnover
(D) Increased scrap

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Choose the most appropriate answer from the options given below:
(a) A, B only
(b) B. C only
(c) B, C, D only
(d) A, B, C only

57. Which of the following forms may not result in credit risk?
(A) Principle and/or interest amount may not be repaid in the case of direct lending.
(B) In case of guarantees or letter of credit, fund may not be forth coming from the
constituents upon crystallisation of the liability.
(C) Funds/Securities settlement may not be effected, in case of securities trading
business.
(D) Provide information for determining adequacy of loan loss provision.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) A, C and D only
(c) B and C only
(d) D only

58. Which of the following statements are false regarding electronic purse? Indicate the
correct code.
(A) Retinal pattern verification
(B) Visual recognition
(C) No risk of bad payment
(D) Method of accepting payments with no cash float to manage and no risk of theft.
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A and B only
(d) C and D only

59. Which of the following statements are the defects of Indian Money Market?
(A) Profitable Investment
(B) Dichotomy in Indian Money Market
(C) Financing Industry
(D) Diversity in interest rates
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B and C only
(c) A, B and D only
(d) B and D only

60. Penetration pricing strategy delivers results:

(A) Where price quality association is weak
(B) When the product is perceived as a 'high technology product
(C) When the market is characterised by intensive competition
(D) When the firm uses it as an entry strategy
Choose the most appropriate answer from the options given below:
(a) B. C only
(b) A, D only
(c) A, C, D only
(d) A, B, C only

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61. Which of the following represents traditional logistics management approach?

(A) Independent inventory management efforts
(B) Minimise firm costs
(C) Amount of information sharing and monitoring limited to current processes
(D) Small breadth of supplier base to increase coordination
Choose the correct answer from the options given below:
(a) A, B only
(b) B, C only
(c) A, C, D only
(d) B, C, D only

62. Which of the following statements are false? Indicate the correct code.
(A) No company has to file any prescribed declaration before commencement of business.
(B) A company can ratify the contract entered into by the promoters with third parties on
behalf of the company before its formation.
(C) The date mentioned in the certificate for commencement of business is taken as the
date of birth of a public company.
(D) A private company has to file a "Settlement in lieu of prospectus" with the registrar.
Choose the correct answer from the options given below:
(a) A, B and D only
(b) A and B only
(c) B, C and D only
(d) C and D only

63. Which of the following are not the objectives of competition act, 2002?
(A) Ensure freedom of trade for other participants in incidental and connected markets.
(B) Provide a reasonable level of reliability and connect operation.
(C) Adhere to generally accepted security procedures.
(D) Protect the interests of consumers.
Choose the correct answer from the options given below:
(a) A, C, D only
(b) B, C, D only
(c) A, C only
(d) B, C only

64. Which of the following persons cannot use ITR 4?-

(A) Who is director of a company
(B) Who has held any unlisted equity shares
(C) Who has any asset located outside India
(D) A firm (other than LLP) if assessee is a Resident
(E) Who has income from other sources
Choose the most appropriate answer from the options given below:
(a) A, B, C only
(b) A, B, D only
(c) B, D, E only
(d) C, D, E only

65. Which of the following losses are not deductible from business income?
(A) Loss sustained before the business is commenced.
(B) Lossess incurred in the closing down of the business.
(C) Loss incurred due to damage, destruction, etc., of capital assets.

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(D) Loss of raw material and finished goods in transit.
(E) Loss of stock - in - trade due to enemy action.
Choose the correct answer from the options given below:
(a) A, B, C only
(b) B, C, D only
(c) A, D, E only
(d) A, B, D only

66. Match List I with List II:

List I List II (International Trade Theories)
(A) David Ricardo (1817) (I) Theory of absolute advantage
(B) Michael Porter (1990) (II) Factor endowment theory
(C) Adam Smith (1776) (III) Theory of comparative advantage
(D) Heckscher (1919) - Ohlin (1933) (IV) Theory of competitive advantage
Choose the correct answer from the options given below:
A B C D
1 i ii iii iv
2 iii iv i ii
3 iv iii ii i
4 iii iv ii i

67. Match List I with List II:

List I (Method) List II (Purchase consideration)
(A) Lump-sum payment (I) Calculated by adding up the total amount (money value)
method of existing shares, preference shares and cash received
from the purchasing company for the shareholders of the
vendor company.
(B) Net Assets Method (II) On the basis of ratio in which the shares of the
transferee company are to be exchanged for the shares of
the transferor company.
(C) Net Payment Method (III) The amount to be paid by the transferee company to
transferor company for amalgamation of its business.
(D) Swap Ratio Method (IV) Arrived at by adding the agreed value of assets taken
over and deducting there from the agreed values of
liabilities.
Choose the correct answer from the options given below:
A B C D
(a) 3 2 1 4
(b) 3 4 1 2
(c) 4 1 2 3
(d) 4 3 2 1

68. Match List I with List II:

List I (Pricing Strategies) List II (Description)
(A) Ramsay pricing (I) Setting a high price when a product is first introduced and
gradually lowering price as it gains scale
(B) Price skimming (II) Firm charges lower price (than the ongoing price) to gain
market entry
(C) Cost plus pricing (III) Price deviations from marginal cost should be inversely
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proportional to price elasticity of the product
(D) Penetration pricing (IV) It is full cost pricing strategy that also includes mark up
for target return, degree of competition, price elasticity and
availability of substitutes.
Choose the correct answer from the options given below:
(a) (A) 3 (III), (B) 3 (IV), (C) 3 (I). (D) 3 (II)
(b) (A) 3 (II), (B) 3 (I), (C) 3 (III), (D) 3 (IV)
(c) (A) 3 (III), (B) 3 (I), (C) - (IV), (D) 3 (II)
(d) (A) 3 (I), (B) 3 (IV), (C) 3 (II), (D) 3 (III)

69. Match List I with List II:

List I List II
(A) Market risk (I) Associated with the efficiency with which a firm
conducts its operations within the broader environment
imposed upon it.
(B) Financial risk (II) Arises due to change in operating conditions caused by
conditions thrust upon the firm which are beyond its
control.
(C) External business risk (III) Variations in price sparked off due to real, social,
political and economic events.
(D) Internal business risk (IV) Associated with the capital structure of a firm.
Choose the correct answer from the options given below:
(a) (A) - (I), (B) (II), (C) - (III), (D) - (IV)
(b) (A) - (III), (B) - (IV), (C) - (II), (D) - (I)
(c) (A) - (III), (B) - (I), (C) - (II), (D) - (IV)
(d) (A) (IV), (B) - (III), (C) - (I), (D) - (II)

70. Logically sequence the following in the process of entering international markets outlined
in the uppsala model.
(A) Sporadic (Ad hoc) exports
(B) Foreign production and manufacturing
(C) Establishing a foreign sales subsidiary
(D) Domestic operations and production
(E) Exporting via independent representative
Choose the correct answer from the options given below:
(a) (A), (B), (C), (D) and (E)
(b) (C), (B), (D), (A) and (E)
(c) (D). (A), (E), (C) and (B)
(d) (E), (B), (D), (C) and (A)

71. Match List I with List II:

List I (Personlity dimensions) List II (Individual Traits)
(A) Extroversion (I) Calm, happy and secure
(B) Conscientiousness (II) Talkative, assertive, sociable and
outgoing
(C) Emotional stability (III) Creative, curious, intellectual,
imaginative and artistically sensitive
(D) Openess to experience (IV) Self-disciplined, hardworking,
organised, dependable and persistent.
Choose the correct answer from the options given below:
(a) (A) - (II) (B) - (TV) (C) - (III) (D) - (I)
(b) (A) - (II) (B) - (IV), (C) - (I) (D) (III)
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(c) (A) - (III) (B) - (II), (C) - (I) (D) - (IV)
(d) (A) - (IV) (B) - (I) (C) - (II) (D) - (III)

72. Match List I with List II:

List I List II
(A) Insurance Act (I) 1988
(B) Life Insurance Corporation Act (II) 1963
(C) Motor Vehicles Act (III) 1938
(D) Marine Insurance Act (IV) 1956
Choose the correct answer from the options given below:
(a) (A) (IV), (B) - (III), (C) - (I) - (D) - (II)
(b) (A) - (I), (B) (II), (C) - (III) (D) - (IV)
(c) (A) (III), (B) (IV), - (C) - (I) (D) - (II)
(d) (A) (IV), (B) - (III), - (C) - (II) (D) - (I)

73. Match List I with List II:

List I Books List II Author(s)
(A) Wealth of Nations, 1776 (I) Thomas Malthus
(B) Principles of Political Economy and (II) Karl Marx 1817
Taxation,
(C) Principle of Population, 1798 (III) Adam Smith
(D) Das Capital, 1867 (IV) David Ricardo
Choose the correct answer from the options given below:
(a) (A) - (I) (B) - (III), (C) - (TV) (D) - (II)
(b) (A) - (III) (B) - (IV), (C) - (I) (D) - (II)
(c) (A) - (II) (B) - (III), (C) - (I) (D) - (IV)
(d) (A) - (III) (B) - (I), (C) - (IV) (D) - (II)

74. Match List I with List II:

List I List II
(A) Ordinary damages (I) Never granted by way of compensation
for the loss
(B) Special damages (II) They are quite heavy in amount and are
awarded by way of punishment only
(C) Exemplary damages (III) Arise in the ordinary course of events
from the breach of contract
(D) Nominal damages (IV) The constitute indirect loss suffered by
the aggrieved party on account of breach of
contract.
Choose the correct answer from the options given below:
(a) (A) - (III), (B) - (IV), (C) - (II), (D) - (I)
(b) (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
(c) (A) (I), (B) - (II), (C) - (IV), (D) - (III)
(d) (A) (II), (B) - (I), (C) - (III), (D) - (IV)

75. Match List I with List II:

List I List II
(A) Section 35 (2AA) (I) Payment made to certain institutions for scientific research.
(B) Section 35(a) (ii a) (II) Payment made to certain institutions for research in social
sciences.
(C) Section 35(a) (iii) (III) Payment made to a company to be used for scientific

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research.
(D) Section 35(a) (ii) (IV) Payment made to Indian Institute of Technology for Scientific
Research.
Choose the correct answer from the options given below:
(a) (A) - (IV) (B) (II), (C) - (III) (D) - (I)
(b) (A) - (IV) (B) - (III) (C) - (II) (D) - (I)
(c) (A) - (I) (B) (II), (C) - (III) (D) - (IV)
(d) (B) - (II), (C) - (IV) (D) - (III) (A) - (I)

76. Sequence the following in increasing order of integration of member economies.

(A) Free Trade Area
(B) Economic Union
(C) Custom Union
(D) Preferential Trade Agreements
(E) Common Market
Choose the correct answer from the options given below:
(a) (A), (C). (E), (B). (D)
(b) (B). (E), (C), (A), (D)
(c) (D). (A), (C), (E). (B)
(d) (C). (E). (B). (D). (A)

77. The liquidator after realizing the assets of the company should distribute the proceeds
among below mentioned claimants in the following order:
(A) Legal charges
(B) Liquidators remuneration and cost of expenses of winding up
(C) Workman's dues and claims of the secured creditors
(D) Preferential creditors and creditors secured by floating charge
(E) Unsecured creditors
Choose the correct answer from the options given below:
(a) (B), (C), (A), (D). (E)
(b) (D). (C). (B). (A). (E)
(c) (A), (B), (C), (D), (E)
(d) (B). (C), (E), (A). (D)

78. Arrange the following market structures in the increasing order of pricing power to firms.
(A) Monopolistic competition
(B) Perfect competition
(C) Duopoly
(D) Monopoly
(E) Oligopoly
Choose the correct answer from the options given below:
(a) (B), (D). (A), (E). (C)
(b) (B), (A), (E), (C), (D)
(c) (A), (C), (B), (D), (E)
(d) (D). (C), (E), (A), (B)

79. Arrange the following items, i.e. stages of capital budgeting in correct sequence:
(A) Identification of potential investment opportunities
(B) Assembling of proposed investments.
(C) Decision making
(D) Implementation and performance review
(E) Preparation of capital budget and appropriations.

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Choose the correct answer from the options given below:
(a) (B). (A). (E), (C), (D)
(b) (E). (C). (A), (B). (D)
(c) (C). (E), (D), (B), (A)
(d) (A), (B), (C), (E), (D)

80. Arrange the following stages of processing of data in a correct sequence:

(A) Coding
(B) Editing
(C) Tabulation
(D) Classification
(E) Using Percentages
Choose the correct answer from the options given below:
(a) (A), (B). (C), (D). (E)
(b) (D). (A), (B). (C). (E)
(c) (C), (D), (A), (B). (E)
(d) (B), (A), (D). (C). (E)

81. Arrange the following characteristics of stages of group development in the increasing
order:
(A) Members begin to resolve differences and clarify the purpose of the group and the roles
of group members.
(B) It includes recognition for participation and achievement.
(C) Members are highly task-oriented and there is unity in the group.
(D) Conflicts start arising due to the differences of opinion among members.
(E) Members are moderately eager, have positive expectations, anxious about why they are
there, and who other members are
Choose the correct answer from the options given below:
(a) (E). (D). (A), (B) (C)
(b) (D). (E). (C), (A), (B)
(c) (E). (D), (A), (C). (B)
(d) (D). (B), (A), (E). (C)

82. Arrange the following steps in logical sequence of operation of the registration of portfolio
managers:
(A) Prior approval of the SEBI.
(B) Adequate steps for redressal of investors grievances.
(C) Maintenance of the specified capital adequacy requirements.
(D) Payment of fee.
(E) Abide by the regulations under the SEBI Act.
Choose the correct answer from the options given below:
(a) (C), (E), (A), (B). (D)
(b) (D). (A). (B). (E). (C)
(c) (A), (D), (B), (C), (E)
(d) (D). (E), (A), (C), (B)

83. Arrange the following stages of consumer decision making process in a sequential order
with regard to a young person Divya :
(A) looks for a specific colour and showroom delivery as she does not want to wait.
(B) narrows down to a dark grey car of a specific brand.
(C) belongs to an executive group and all her colleagues have their own vehicles.
(D) uses media and other social channels to collect information about different models.

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(E) feels that fuel efficiency should be the most critical factor while making a choice.
Choose the correct answer from the options given below:
(a) (A), (C), (B), (D). (E)
(b) (C), (E). (D), (A). (B)
(c) (C). (A), (D), (E). (B)
(d) (E). (C), (A), (D), (B)

84. Arrange the following stages of formation of companies in a proper sequence :

(A) Promotion stage
(B) Raising of share capital stage
(C) Incorporation stage
(D) Commencement stage
(E) Selection of name
Choose the correct answer from the options given below:
(a) (C), (A), (E), (D), (B)
(b) (B). (E). (A), (C). (D)
(c) (A), (E), (C), (B). (D)
(d) (D), (A), (B), (C), (E)

85. Sequence the steps for computing gross annual value of income from house property:
(A) Find out the rent actually received or receivable after excluding unrealised rent before
deducting loss due to vacancy.
(B) Find out the loss because of vacancy.
(C) Find out the reasonable expected rent of the property.
(D) Find out which one is the higher amount computed in (C) or (A).
(E) (D) 3 (B) is gross annual value
Choose the correct answer from the options given below:
(a) (C), (A). (D), (B). (E)
(b) (A), (D). (C), (B). (E)
(c) (D), (A), (C), (B). (E)
(d) (A), (B), (C), (D). (E)

86. Given below are two statements:

Statement I: Deferred Tax Liabilities (Net) is the amount of tax on the temporary difference
between the accounting income and taxable income. It arises when the accounting income
is more than the taxable income.
Statement II: Deferred Tax Liabilities (Net) and Deferred Tax Assets (Net) are only book
entires i.e. they are neither actual liability nor actual asset.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true.
(b) Both Statement I and Statement II are false.
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

87. Given below are two statements:

Statement I: Modified Internal rate of return is based on reinvestment assumption.
Statement II: Value - additivity principle is not applicable in NPV.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.

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(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

88. Given below are two statements:

Statement I: Delegation is an interpersonal transactions based on behaviour analysis.
Statement II: Delegation is an evolutionary and developmental process which needs
encouragement and reinforcement.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct

89. Given below are two statements:

Statement I: Only low priced products will sell in rural india.
Statement II: Rural consumers are a homogenous lot.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct.
(b) Both Statement I and Statement II are incorrect.
(c) Statement I is correct but Statement II is incorrect.
(d) Statement I is incorrect but Statement II is correct.

90. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A: ITR - 1 can be used by an individual whose total income does not exceed Rs.
1 Crore.
Reason R: ITR - 1 cannot be used by an individual who is director in a company.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

Passage
In 2019, India's ten largest trading partners were USA, China, UAE, Saudi Arabia, Hong
Kong, Iraq. Singapore, Germany, South Korea and Switzerland. In 2018 19, the Foreign
Direct Investment (FDI) in India was $64.4 billion with service sector, computer and
telecom industry remains leading sectors for FDI inflows. India has free trade agreements
with several nations, including ASEAN, SAFTA, Mercosur, South Korea, Japan and few
others which are in effect or under negotiating stage. The service sector makes up 55.6%
of GDP and remains the fastest growing sector, while the industrial sector and the
agricultural sector employs a majority of the labor force. The Bombay Stock Exchange and
National Stock Exchange are one of the World's largest stock exchanges by market
capitalisation. India is the world's sixth largest manufacturer, representing 3% of global
manufacturing output and employs over 57 million people. Nearly 66% of India's
population is rural whose primary source of livelihood is agriculture and contributes less
than 50% of India's GDP. It has the world's fifth largest foreign exchange reserves worth
38,832.21 billion (US $540 billion). India has a high national debt with 68% of GDP, while

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its fiscal deficit remained at 3.4% of GDP. However, as per 2019 CAG report, the actual
fiscal deficit is 5.85% of GDP. India's government owned banks faced mounting bad debt,
resulting in low credit growth; simultaneously the NBFC sector has been engulfed in a
liquidity crisis. India faces high unemployment, rising income inequality and major slump
in aggregate demand.

On the basis of the above passage, give answers to question

91. India has significant trading partners from which of the following regions:
(A) Europe
(B) America
(C) Asia
(D) Africa
Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (B), (C), (D) only
(c) (A). (B). (D) only
(d) (A) and (D) only

92. Which of the following sectors have significant Foreign Direct Investment (FDI) in India?
(A) Service Sector
(B) Secondary Sector
(C) Primary Sector
(D) Fisheries and Animal Husbandry
Choose the correct answer from the options given below:
(a) (A) and (B) only
(b) (B) and (C) only
(c) (C) and (D) only
(d) (A) and (D) only

93. Which among the following statements is the correct one? (Choose the most appropriate
one)?
(a) India has a better trade relations with European countries.
(b) MSE is the largest stock exchange in the world.
(c) Indian primary sector is contributing less as compared to other sectors.
(d) India attracts highest FDI from USA.

94. The Comptroller and Auditor General has reported a different estimate than of
governements, in terms of :
(a) GDP
(b) Fiscal Deficit
(c) FDI
(d) Liquidity of private banks

95. Which of the following has not been articulated in the passage?
(A) GDP Growth
(B) Currency flows
(C) Liquidity
(D) Demographics
Choose the correct answer from the options given below:
(a) (A) and (B) only
(b) (B) and (C) only

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(c) (B) only
(d) (C) and (D) only

1) Read the following passage carefully and answer the question

XYZ Ltd. funrnished you with the following information:
Budget Actual (in a particular month)
No. of working days 25 27
Production (in units) 20,000 22,000
Fixed overhead (in Rupees) 30,000 31,000
Budgeted overhead rate is 1 per unit. In a particular month the actual hours worked were
31.500.

96. What is the total overhead variance in the given month experienced by the XYZ Ltd?
(a) Rs. 4,000 (Favourable)
(b) Rs. 2,000 (Adverse)
(c) Rs. 1,000 (Adverse)
(d) Rs. 2,000 (Favourable)

97. What is the expenditure variance of XYZ Ltd as on given month?

(a) Rs. 1,000 (Adverse)
(b) Rs. 1,500 (Adverse)
(c) Rs. 2,000 (Favourable)
(d) Rs. 1,500 (Favourable)

98. From given information in the passage, what is the volume variance of XYZ Ltd in given
month?
(a) Rs. 3,000 (Favourable)
(b) Rs. 2,000 (Adverse)
(c) Rs. 1,500 (Favourable)
(d) Rs. 1,500 (Adverse)

99. Find the capacity variance for the month from the information given in the passage.
(a) Rs. 1,000 (Favourable)
(b) Rs. 900 (Adverse)
(c) Rs. 1,500 (Favourable)
(d) Rs. 1,000 (Adverse)

100. Given the information in the passage, what is the calendar variance for the month?
(a) Rs. 2,000 (Favourable)
(b) Rs. 3,000 (Adverse)
(c) Rs. 2,400 (Favourable)
(d) Rs. 1,000 (Adverse)

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

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UGC NET 2021 COMMERCE 26N SHIFT 1

1. Bretton Woods resolutions led to the formation of:
(a) WTO
(b) GATT
(c) UNCTAD
(d) IMF

2. The mode of joint venturing in international business that allows a company to conduct
business in another country whose laws discourage foreign ownership is known as:
(a) International Franchising
(b) Licensing
(c) Contract manufacturing
(d) Joint ownership

3. Fill in the blanks

The collapse of Eastern Europe in and USSR in lead to emergence of the transitory
economies.
(a) 1989, 1991
(b) 1988, 1995
(c) 1997, 1991
(d) 1980, 1987

4. The resource seeking FDI moves to a country where:

(a) Per capita income and size of the market are large
(b) Technologies are available to improve productivity
(c) Raw materials and manpower are in abundance
(d) Financial resources help MNCs improve their efficiency

5. A' , B and 'C' are partners sharing profits in the ratio of 3:2:(a) 'D' is admitted for 1/6TH
(rh) share and 'C' should retain his original share.
The sacrificing ratio of A and B will be:
(a) 1 : 2
(b) 2 : 3
(c) 3 : 2
(d) 2 : 1

6. From the following information about a firm, what will be the contribution to sales (c / s)
ratio and the profit?
Sales = ₹100000
Fixed Cost = ₹20,000
Break-even Point = ₹40,000
(a) C / S = 25% and Profit= ₹ 60000
(b) C / S = 50% and Profit= ₹ 60000
(c) C / S = 50% and Profit = ₹ 30,000
(d) C / S = 60% and Profit= ₹ 30,000

7. Which one of the following is a structured review of the systems and procedures of an
organisation in order to evaluate whether they are being conducted efficiently and
effectively?

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(a) Financial audit
(b) Safety audit
(c) Management audit
(d) Cost audit

8. Fill in the blanks

For a holding company, all pre-acquisition profits/losses of the subsidiary company are
acquisition profits/losses of the subsidiary company are while all post-
(a) revenue profits/losses, capital profits/losses
(b) capital profits, capital losses
(c) revenue profits, revenue losses
(d) capital profits/losses, revenue profit/losses

9. When the sum of exponents exceeds one (a + b > 1) in the Cobb - Douglas production
function, it causes which one of the following?
(a) Constant returns to scale
(b) Increasing returns to scale
(c) Decreasing returns to scale
(d) Variable returns to scale

10. A price ceiling below the equilibrium price often leads to a shortage of the commodity and
possibly:
(a) Commodity glut
(b) Black marketing
(c) Price manipulations
(d) Increased consumption

11. The cross-price elasticity of demand for complementary commodities is

(a) Positive
(b) Zero
(c) Greater than one
(d) Negative

12. Which market form leads to more technological change and product improvements than
alternative forms of market structure?
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly

13. The practice of delaying receipts from the foreign currency designated receivables whose
currencies are likely to appreciate and delaying foreign currency designated payables
whose currencies are likely to depreciate is known as:
(a) Leading
(b) Netting
(c) Lagging
(d) Risk hedging

14. Companies strive to stockpile internally generated cash. Such a cash reserve is called
(a) Margin of safety
(b) Financial float
3 eserve float

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(d) Financial slack

15. What is the sustainable growth rate of the company that enjoys return on equity = 30
percent and a dividend payout ratio of 40 percent?
(a) 12 per cent
(b) 18 per cent
(c) 30 per cent
(d) 40 per cent

16. Which one of the following is considered a necessary precondition by Richard Roll for
markets to become efficient?
(a) Traders who make a living by 'beating the market' through trading
(b) Free access to and flow of information
(c) Costless trading
(d) Prices approximate a random walk

17. An economy grows at 5%, 12%, and 7% over the last three years. The average annual
increase over this period would be:
(a) Equal to 8%
(b) At least 8%
(c) Less than 8%
(d) 8% or less

18. The practice of delaying receipts from the foreign currency designated receivables whose
currencies are likely to appreciate and delaying foreign currency designated payables
whose currencies are likely to depreciate is known as:
(a) Leading
(b) Netting
(c) Lagging
(d) Risk hedging

19. If each value in a given set is increased by K, it will:

(a) Increase the Pearson's coefficient of skewness value
(b) No change in Pearson's coefficient of skewness value
(c) No change in Bowley's coefficient of skewness value
(d) Reduce the value of Pearson's coefficient of skewness

20. A certain bivariate data byx and bxy have been calculated which is equal to 2.4 and 0.4,
respectively. If the value of the x series are all multiplied by 5 and all values of y series are
divided by 2, how would it affect the value of the two coefficients?
(a) Both the coefficients remains unchanged
(b) Both the coefficients get multiplied so bvx = 6 and bxv =4.0
(c) The coefficients are revised by byx = 0.24 and bxv =4.0
(d) The coefficients are revised by byx = 74 and bxy = 0.04

21. Which one of the following training methods is most suitable for developing problem-
solving skills?
(a) Lecture
(b) Case study
(c) Role playing
(d) Sensitivity training

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22. Which one of the following is the most suitable coping mechanism if 'fear of overload' is
the source of resistance to change?
(a) Participation and involvement
(b) Support of resources
(c) Role redefinition and re-orientation
(d) Role clarity and definition

23. Which one of the following is NOT true for the functional organization?
(a) It is based on the principle of unity of command
(b) The discipline tends to become loose
(c) It is useful for large-scale business
(d) Functional managers are specialists in their respective areas

24. According to Plutchik, which one of the following is NOT a secondary emotion?
(a) Hostility
(b) Insecurity
(c) Distrust
(d) Fear

25. In Banking Technologies, Star Topology involves:

(a) Each node is joined to the central node by a separate medium
(b) Devices are connected in a close loop
(c) Information is passed from one node to another in series
(d) Devices on the network are connected to a single continuous cable

26. Which one of the following statement is FALSE regarding transactions of Internet
Banking?
(a) Statement of account is for a specific period
(b) Withdrawal of cash anywhere in India
(c) Balance inquiry
(d) Transfer of funds from one account to another account

27. Which of the following is NOT the feature of the Indian capital market?
(a) Government rules and regulations
(b) Utilises intermediaries
(c) Link between savers and investment opportunities
(d) Co-promotes state-level venture funds

28. Which one of the following statements are the advantages of the Decision Support System
(DSS)?
(a) Unaware of Assumptions
(b) Generates new evidence in support of a decision
(c) Difficulty in quantifying all the data
(d) System design failure

29. Which one of the following generations is more pragmatic and individualistic?
(a) Silent generation
(b) Baby Boomers
(c) Gen X
(d) Cen Y

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30. Which one of the following vehicles is used when traffic building is the consumer
promotion objective?
(a) Discount sales
(b) Special events
(c) Coupons
(d) Catalogue offers

31. In which one of the following services price sensitivity is high?

(a) Airlines
(b) Car rentals
(c) Sea Transport
(d) Retailing

32. With reference to product hierarchy, life insurance is an example of:

(a) Product family
(b) Product class
(c) Product line
(d) Product type

33. In which of the following cases, the Doctrine of Supervening impossibility will apply?
(a) Difficulty in performance
(b) Commercial Impossibility
(c) Impossibility known to the parties at the time of making of the contract
(d) Strikes, Locks-outs, and civil disturbances

34. Which one of the following State Taxes have NOT been replaced by GST?
(a) Taxes on lotteries, betting, and gambling
(b) Special additional duty of customs
(c) Purchase Tax
(d) Luxury Tax

35. Which one of the following statements are TRUE about the contract of Bailment?
(a) Hiring of bank locker is a contract of Bailment
(b) Bailee has a right of the general lien
(c) Money deposited in fixed deposit with a bank is a contract of Bailment
(d) A contract of Bailment does not result when a person leaves some goods with his friend
for being looked after

36. Which one of the following is NOT true regarding input tax credit to avoid cascading
effect?
(a) Input Tax credits of SGST can be utilised for payment of SGST first and balance for
payment of IGST on outward supply
(b) Input Tax credit of UTGST can be utilised for payment of UTGST first and balance for
payment of IGST on outward supply
(c) Input Tax credit of SGST
(d) Input Tax credit of CGST can be utilised for payment of CGST first and balance for
payment of IGST on outward supply

37. Tax Audit is compulsory in case a person is carrying on a business whose gross turn
over/receipts exceeds:
(a) Rs. 40 lakh

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(b) Rs. 50 lakh
(c) Rs. 1 crore
(d) Rs. 60 lakh

38. The due date of the first instalment of advance tax paid by an assessee other than the
company is:
(a) 15th April
(b) 15th June
(c) 15th September
(d) 15th December

39. Section 80GGC of Income tax is:

(a) Deduction in respect of contribution given by any person to political parties
(b) Deduction in respect of contribution given by any company to political parties
(c) Deduction in respect of certain donation for scientific research
(d) Deduction in respect of rent paid

40. The partial integration of agricultural with non-agricultural income is done in case of:
(a) Firm
(b) Company
(c) Co-operative society
(d) AOP

41. Buoyancy is a basic principle of taxation which means:

A. The system should be such that cost of collection is least
B. Tax obligation of the payers should be well determined
C. The system should be such that the tax revenue has the inherent tendency to increase
as the economy grows
D. Tax base should be fairly diversified so that the tax burden is widely spread
Choose the correct answer from the options given below:
(a) A only
(b) A and B only
(c) C only
(d) D only

42. The term current account transaction is defined as a transaction other than a capital
account transaction and without prejudice to the generality of the foregoing, such
transaction includes:
A. Overseas direct investment, (ODIs) from India
B. Payment due as interest on loans and as net income from investments
C. Remittances for living expenses of parents, spouse, and children residing abroad
D. Borrowing or lending in foreign exchange and in Indian rupees
Choose the correct answer from the options given below:
(a) A and D only
(b) A and B only
(c) B and Conly
(d) D only

43. The technique of marginal costing is based upon which of the following assumptions:
A. Fixed cost will tend to remain constant or unchanged for the entire volume of
production

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B. ariabl BVariable cost remains constant per unit of output irrespective of the level of
output
C. There will not be any change in pricing policy due to change in volume, competition,
etc.
D. Operating efficiency of the firm may increase or decrease
Choose the correct answer from the options given below:
(a) A and B only
(b) A, B and D only
(c) A, B, C and D
(d) A, B, and C only

44. The sources of the Indian GAAP (IGAAP) include:

A. Indian Companies Act, 2013
B. Notifications issued by Ministry of Finance
C. Accounting standards
D. ICAI's pronouncements
Choose the correct answer from the options given below:
(a) A and C only
(b) B, C, and D only
(c) A, B, and C only
(d) A, C, and D only

45. Which among the following are generally accepted methods of accounting for price level
changes?
A. Replacement Cost Method
B. Current Purchasing Power Method
C. Opportunity Cost Method
D. Current Cost Accounting Method
E. Standard Cost Method
Choose the correct answer from the options given below:
(a) A and C only
(b) A, B and C only
(c) B and D only
(d) C, D and E only

46. Identify three conditions that a firm must meet to practice price discrimination:
A. The firm must have some control over the price and the product
B. The firm must operate in the growth phase of its product life cycle
C. The markets in which products are sold must be separable
D. Price elasticity of demand for the product must differ
E. The firm operates its plant at full capacity
Choose the correct answer from the options given below:
(a) A, B and C only
(b) A, C and D only
(c) B, D and Eonly
(d) B, C and D only

47. A U-shaped long-run average cost curve is based on the assumptions that
A. Economies of scale prevails at small levels of output
B. Diseconomies of scale prevails at larger levels of output
C. Benefits of the division of labour and specialisation accrue more at the lower scale of
production

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D. Managerial inefficiencies are prone to a higher scale of operations
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A, C, and Donly
(d) A, B, C and D

48. Cash flows are presumably reinvested in capital budgeting decisions at

A. Discount rate
B. Market rate
C. Cost of capital
D. Riskless rate
E. Internal rate of return
Choose the correct answer from the options given below:
(a) A, C and E only
(b) B, C and D only
(c) C, D and E only
(d) A, C and D only

49. The basic premise of the MM-approach is based on which of the following assumptions?
A. Asymmetrical information
B. Efficient capital markets
C. Investor rationality
D. Diverse business risk profile
E. 100% dividend payout ratio
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D, and E only
(c) A, C and E only
(d) B, C and E only

50. Identify the components of the credit policy of a business firm from the following:
A. Collection policy
B. Factoring
C. Credit rating
D. Credit analysis
E. Terms of sale
Choose the correct answer from the options given below:
(a) B, C and D only
(b) A, D and E only
(c) C, D and E only
(d) A, C and D only

51. The values in one of the series in a bivariate data set are multiplied by a constant K,
which of the following would change as a result of this?
A. Karl Pearson's coefficient of correlation
B. Standard deviation
C. Covariance between the variables
D. Rank correlation coefficient
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B and C only
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(c) A, and D only
(d) A, B, and D only

52. Which of the following statements are CORRECT?

A. The critical value of Z for two tailed test with alpha = 0.5 is 1.96
B. The critical value of Z for a two tailed test with alpha = 0.01is 2.575
C. The critical value of Z for one tailed test with alpha = 0.05 is 1.96
D. The critical value of Z for a left-tailed test with alpha = 0.01 is 2.33
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and Donly
(c) A, B and D only
(d) A and B only

53. Incentives schemes where earnings differ at different levels of output are:
A. Gantt Task System
B. Halsey Plan
C. Rowan Plan
D. Bedaux Plan
E. Emerson's Efficiency Plan
Choose the correct answer from the options given below:
(a) B and E only
(b) A, C and E only
(c) A, C and Donly
(d) A and E only

54. The functions of lower management are:

A. Executing plans in accordance with the policies and directives of the top management
B. Maintaining discipline among the workers
C. Selecting suitable operative and supervisory personnel
D. Providing training to the workers
E. Maintaining good human relations
Choose the correct answer from the options given below:
(a) A and B only
(b) C and D only
(c) B, D and E only
(d) B and C only

55. Which of the following are the limitations in the creation of credit of commercial banks?
A. The amount of cash that commercial banks possess
B. Supply of collateral security
C. Monetary policy of the central bank
D. Allied deposits scheme
E. Deposits linked with special benefits
Choose the correct answer from the options given below:
(a) A, D and E only
(b) A, C and E only
(c) C and D only
(d) D and Eonly

56. Which of the following is INCORRECT about ways, the RBI can affect the structure of
interest rates?
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A. By changing the treasury bill rate
B. Blending of leading and trading activities
C. By changing the Bank rate
D. Fixing the maximum interest on time deposits with the bank
E. Ineffective tapping and mobilization of savings
Choose the correct answer from the options given below:
(a) A and D only
(b) D and E only
(c) B and Eonly
(d) A, C, D and E only

57. Constituents of Integrated marketing are:

A. Customers
B. Sice
C. Communications
D. Products and services
E. Channels
Choose the correct answer from the options given below:
(a) A, B and C only
(b) C, D and E only
(c) B, C, D and E only
(d) A, B, D and E only

58. Factors that reduce price sensitivity are:

A. Buyers cannot store the product
B. The expenditure is a larger part of the buyer's total income
C. Buyer are aware of substitutes
D. The product is used in conjunction with assets previously bought
E. Part of the cost is borne by another party
Choose the correct answer from the options given below:
(a) A and B only
(b) A, D and E only
(c) C, D and E only
(d) B, D and E only

59. The characteristics of online and social media marketing are:

A. Personal
B. Rich
C. Timely
D. Interactive
E. Up to date
Choose the correct answer from the options given below:
(a) A, D and E only
(b) B and E only
(c) B, D and E only
(d) A, C and Donty

60. A contract is said to be discharged by rescission:

A. When terms of a contract are altered
B. When a party makes novation of a contract

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C. When an aggrieved party exercises his option to avoid the contract
D. When a party to a contract waives his rights under the contract
E. Where none of the parties has performed its part for a long time and no other party has
objected against it
Choose the correct answer from the options given below:
(a) A, D and E only
(b) B, C and E only
(c) C and E only
(d) B and D only

61. Which of the following are objectives of the Competition Act, 2002?
A. To prevent practices having an adverse effect on competition
B. To impede and torment competition in the market
C. To protect the interests of sellers
D. To ensure freedom of trade carried on by other participants in markets
Choose the correct answer from the options given below:
(a) A, B and C only
(b) B, C and D only
(c) A, B and D only
(d) A and D only

62. Which of the following statements are TRUE in a contractual capacity?

A. Law presumes that every person is competent to contract unless otherwise proved
B. That a minor can make a contract for necessities of life
C. That a person of unsound mind can enter into the family contracts
D. A convict cannot enter into a valid contract nor can sue
E. That a wife can always make valid business contracts and bind her husband
Choose the correct answer from the options given below:
(a) B, D and E only
(b) A, C and E only
(c) A and E only
(d) B and D only

63. Which of the following are required to be studied for a deep understanding of Income Tax
procedures?
A. The Income Tax Act, 1961
B. The Income Tax Rules, 1962
C. Notifications, circulars and classification issued from time to time by the CBDT.
D. Judicial decisions
E. Companies Act, 2013
Choose the correct answer from the options given below:

64. Which of the following losses are NOT deductible from business Income?
A. Loss incurred in closing down the business
B. Loss incurred due to damage destruction etc. of capital assets
C. Loss of stock-in-trade due to enemy action
D. Loss sustained before the business is commenced
E. Loss of raw material finished good-in-transit
Choose the correct answer from the options given below:
(a) A, C, D and E only
(b) A, B, C and D only

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(c) B, C, D and E only
(d) A, B and E only

65. An ITR-1 can be used by an individual having an income from

A. One house property
B. Pension
C. Intrest on Fixed Deposits in Banks
D. Winnings from lottery
Choose the correct answer from the options given below
(a) A, B and C only
(b) B, C and D only
(c) A, C and D only
(d) A, B and D only

66. Match List I with List II

List I Events List II Year
A. Bretton Woods Conference I. 1948
B. GATT established II. 1974
C. Multi-fibre Agreement III. 1944
D. WTO replaced GATT IV. 1995
Chose the correct answer from the options given below:
(a) A-III, B-I, C-IV, D-II
(b) A-IV, B-II, C-L, D-III
(c) A-lll, B-I, C-II, D-IV
(d) A-ll, B-IV, C-III, D-I

67. Match List I with List II

List I List II
A. Ind AS: 1 I. Provisions, Contingent Liabilities and
Contingent Assets
B. Ind- AS: 29 II. Consolidated Financial Statements
C. Ind-AS: 37 III. Presentation of Financial Statements
D. Ind-AS: 110 IV. Financial reporting in Hyperinflationary
Economies
Choose the correct answer from the options given below:
(a) A-IV, B-III, C-II, D-I
(b) A-III, B-IV, C-I, D -II
(c) A-III, B-I, C-II, D-IV
(d) A-IV, B-III, C-I, D-ll

68. Match List I with List II

List I Nature of commodities List II Income Elasticities of Demand
A. Normal goods I. Greater than one
B. Inferior goods II. Between zero and one
C. Luxurious commodities III. Greater than zero (positive)
D. Necessities IV. Less than zero (negative)
Choose the correct answer from the options given below:
A B C D
1 3 1 1 2
2 2 4 4 3
3 3 4 1 2

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4 2 4 1 1

69. Match List I with List II

List I Hedging Concepts List II Description
A. European option I. Option contract exercised on any date up
to maturity
B. Option premium II. When the immediate exercise of an
option yields positive value to its holder
C. In-money option III. Option contract exercised only on the
maturity date
D. American option IV. It is paid by the buyer of the options
upfront to the option seller
Choose the correct answer from the options given below:
A B C D
1 1 2 4 3
2 3 4 2 1
3 1 2 3 4
4 1 4 2 3

70. Match List I with List II

List I List II
A. Dispersion I. Involving relationship between the
median and quartile
B. Karl Pearson's measures of skewnessll II. Based on the relationship between the
averages
C. Bowley's measures of skewness III. Using percentile
D. Kelly's measure of skewness IV. Amount of variation in given data
Choose the correct answer from the options given below:
A B C D
1 4 2 1 3
2 4 1 2 3
3 4 3 2 1
4 1 2 3 4

71. Match List I with List II

List I Ego Defence Mechanism List II Description
A. Projection I. Returning to a previous stage of
development
B. Regression II. Acting out unacceptable impulses in a
socially acceptable way
C. Repression III. Placing unacceptable impulses in
yourself onto someone else
D. Sublimation IV. Pulling into the unconscious
Choose the correct answer from the options given below:
A B C D
1 3 1 4 2
2 3 4 1 2
3 1 3 2 4
4 2 1 4 3
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72. Match List I with List II

List I List II
A. Role of Commercial Bank I. Help to consumers
B. NBFC service II. Mutual saving bank
C. Non-depository Institution III. Hire purchase
D. Depository Institution IV. Mutual fund
Choose the correct answer from the options given below:
A B C D
1 2 1 3 4
2 1 3 4 2
3 4 2 1 3
4 3 4 2 1

73. Match List I with List II

List I List II
A. Value added by Channel Members-Low; Market Growth Rate- I. Introductory stage
Lowl.
B. Value added by Channel Members-High; Market Growth Rate- II. Growth stage
Lowll
C.Value added by Channel Members-Low; Market Growth Rate- III. Mature stage
High
D.Value added by Channel Members-High; Market Growth Rate- IV. Decline stage
High
Choose the correct answer from the options given below:
A B C D
1 1 4 3 2
2 2 1 3 4
3 4 1 3 2
4 3 1 4 2

74. Match List I with List II relating to The Sale of Goods Act
List I List II
A. Actionable claim I. Goods to be manufactured after the making of the contract
B. Appropriation of II. Goods owned by the seller at the time of the making of the
goods contract of sale
C. Existing goods III. Separating the goods sold from other goods so as to
determine and identify the actual goods to be delivered
D. Future goods IV. Recovered only by means of a suit or an action in a court of
law
Choose the correct answer from the options given below:
A B C D
1 3 1 4 2
2 1 2 3 4
3 2 4 1 3
4 4 3 2 1

75. Match List I with List II

List I List II
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A. Section 10 (1) I. Amount received involuntary retirement
B. Section 10 (10 C) II. Agricultural Income
C. Section 10 (13A) III. Leave Encashment
D. Section 10 (10 AA ) IV. House Rent Allowance
Choose the correct answer from the options given below:
A B C D
1 2 1 4 3
2 2 1 3 4
3 4 3 1 2
4 4 3 2 1

76. Arrange the following levels of economic integration, from least integrated to the most
integrated:
A. Customs Union
B. Free Trade Area
C. Economic Union
D. Common Market
E. Political Union
Choose the correct answer from the options given below
(a) E, D, C, A, B
(b) B, A, D, C, E
(c) D, C, A, B, E
(d) A, B, C, D, E

77. Which of the following order is followed in the issue of shares under the "Fixed Price Offer
Method"?
A. Issue of a prospectus
B. Receipt by the company of application for share
C. Selection of merchant banker
D. Issue of share certificates
E. Allotment of shares to the applicant
Choose the correct answer from the options given below
(a) A, D, E, C, B
(b) C, B, A, D, E
(c) C, A, B, E, D
(d) E, B, A, C, D

78. Logically sequence the following steps in the managerial decision-making process
A. Determining the objective
B. Selecting the best solution
C. Implementing the decision
D. Defining the problem
E. Identifing possible solutions
Choose the correct answer from the options given below
(a) D, A, C, E, B
(b) D, A, E, B, C
(c) A, E, D, B, C
(d) A, E, B, C, D

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79. Arrange the following economic regions in increasing order of FDI inflows, as per the
UNCTAD Report, 2020?
A. Developing economies
B. Transition economies
C. North America
D. Developed economies
E. Europe
Choose the correct answer from the options given below
(a) B, A, C, E, D
(b) E, B, D, C, A
(c) B, A, D, E, C
(d) A, B, C, E, D

80. Arrange the following steps in the process of hypothesis testing in proper sequence:
A. Select the level of significance
B. Setup null and alternative hypothesis
C. Establish the decision rule
D. Performance computations
E. Select test statistics
F. Draw conclusion
Choose the correct answer from the options given below
(a) A, B, C, D, E, F
(b) A, B, E, D, C, F
(c) B, A, C, D, E, F
(d) B, A, E, C, D, F

81. The characteristics of different levels of leaders are given below. Arrange these in an
increasing order of levels
A. He contributes to the achievement of group objectives and works effectively with others
in a group
B. He builds enduring greatness through a paradoxical combination of professional will
and personal humanity
C. He makes a productive contribution through talent, knowledge, skills, and good work
habits
D. He catalyses commitment to and vigorous pursuit of a clear and compelling vision and
stimulates the group to high- performance standards
E. He organises people and resources towards the effective and efficient pursuit of
predetermined objectives
Choose the correct answer from the options given below
(a) C, E, D, A, B
(b) A, E, D, B, C
(c) A, C, E, B, D
(d) C, A, E, D, B

82. Arrange the following steps in a logical sequence of the claim settlement procedure in the
Insurance
A. Scrutinisation
B. Investigation of an assessment
C. Claim form
D. Notice of loss
E. Settlement and Arbitration
Choose the correct answer from the options given below

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(a) A, B, C, D, E
(b) C, A, D, B, E
(c) C, B, A, E, D
(d) D, C, A, B, E

83. Arrange the steps of market segmentation process in the proper sequence
A. Segment "Acid Test"
B. Segment Attractiveness
C. Need Based Segmentation
D. Segment Profitability and Segment Positioning
E. Segment Identification
Choose the correct answer from the options given below
(a) C, E, B, D, A
(b) E, C, D, B, A
(c) A, E, C, D, B
(d) A, B, C, E, D

84. Arrange in the sequence, steps in the procedure for calling a statutory meeting of the
company
A. Contents of the statutory report
B. A list of members must be produced at the commencement
C. Twenty-one days notice
D. Certification of the statutory report by not less than two directors, one of whom must
be the managing director
E. A certified copy of the statutory report must be delivered to the Registrar
Choose the correct answer from the options given below
(a) B, E, C, A, D
(b) A, D, E, B, C
(c) D, C, B, A, E
(d) C, A, D, E, B
85. Arrange in sequence the steps in the procedure of e-filing of an Income Tax Return
A. Login
B. Register
C. Verification
D. e-filing
E. Downloading utility and preparing the return
Choose the correct answer from the options given below
(a) B, A, E, D, C
(b) A, B, C, D, E
(c) A, B, E, C, D
(d) A, B, C, E, D

86. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Quick ratio is a more penetrating test of liquidity than the current ratio, yet a
high quick ratio does not necessarily imply sound liquidity.
Reason R: A company with a high value of quick ratio can suffer from a shortage of funds
if it has slow-paying, doubtful and long duration outstanding debtors
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A

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(c) A is correct but R is not correct
(d) A is not correct but R is correct

87. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: Two companies with the same general earning power and same general
position in an industry, the one paying larger dividend will almost always sell at a higher
price
Reason R: The discounted value of near dividends is higher than the present worth of
distant dividends
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

88. Given below are two statements:

Statement I: The aim of marketing is to make selling superfluous
Statement II: Marketing should result in a customer who is ready to buy
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement Il are correct
(b) Both Statement I and Statement Il are incorrect
(c) Statement I is correct but Statement Il is incorrect
(d) Statement I is incorrect but Statement Il is correct

89. Given below are two statements:

Statement I: patents are defined as monopoly rights which one granted by the
government, for full disclosure of invention for a limited period of time, that is for 20 years
Statement II: The purpose of granting patents is to encourage inventions by promoting
their protection and utilization so as to contribute to the development of Industries
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement Il are correct
(b) Both Statement I and Statement Il are incorrect
(c) Statement I is correct but Statement Il is incorrect
(d) Statement I is incorrect but Statement II is correct

90. Given below are two statements:

Statement I: Assessee is always a person but a person may or may not be an assessee
Statement II: The term 'person' includes an individual, a HUF, a company, a firm, an
association of persons, local authority and every artificial juridical person
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both Statement I and Statement Il are correct
(b) Both Statement I and Statement ll are incorrect 8878(c) Statement I is correct but
Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

1) Read the given paragraph carefully and answer the questions that follow

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For a developing economic nation, its industrial policy requires regular updation to meet
the growing demands of the industry as well as to increase the share of manufacturing in
overall GDP. As India's GDP has been dominated by services rather than agriculture or
manufacturing, there are structural modifications always required so that manufacturing
activity be increased substantially to meet the global market requirements. This requires
legal amendments, with the new laws aimed to facilitate better manufacturing and
exports.

Actually, India faces two challenges, rather opportunities that the bullishness on the
Indian economy is to be export- oriented as well as to feed its ever-growing domestic
consumption. Also, no economy can only be consumption oriented as its people should
also save and invest actively. This brings to an important direction of banking system
which plays a critically important role in achieving the above two objectives. The public
sector banks require to build on to the capabilities and expertise on the due diligence
methods for the credit appraisal for the loan requirements. Worth mentioning here is the
data that the non-performing assets valuing Rs. 7.7 lakh crore (as on December 2017) as
per the latest figures of the Finance Ministry. Nevertheless, given their large structure and
geographic percolation, the public sector banks must be recognized in India's development
and that there is "no country in the world where banks have not had a problem."

91. What problem is highlighted in the above passage?

(a) Low growth in GDP
(b) Balance of payments issue
(c) Pich fiscal deficit
(d) Pole of banking sector

92. Which of the following is not a feature of the consumption economy?

(a) Increasing population with increasing consumption
(b) More contribution to indirect taxes
(c) It also prompts more exports than imports
(d) The unsold goods create problems

93. Which of the following set defines Sustainable Consumption and Production (SCP)?
A. The use of services and related products which respond to basic needs and bring a
better quality of life.
B. Minimizing the use of natural resources and toxic materials as well as the emission of
waste as pollutants.
C. Pertinent use of service or product so as not to jeopardise the needs of future
generations.
D. Planned cities with a lower cost of production minimizing the retail inflation.
Choose the correct answer from the options given below
(a) A, B and D only
(b) B, C and D only
(c) A, B and C only
(d) A, B, C and D

94. The credit appraisal process by a bank does NOT involve evaluation if the borrower on:
(a) Technical feasibility
(b) Economic viability
(c) Bank ability or credit worthiness
(d) Loan offtakes and paying ability of related companies in the geographical area

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95. The Indian banking sector requires that it:
(a) build more manpower and ICT resources
(b) be more technology dependent
(c) evaluate loan disbursals
(d) increase the frequency of change of the bank rates

1) Read the paragraph carefully and give an answer to the question

The Economic Survey cautions against extended forbearance of credit default, drawing the
lessons that extended forbearance in the wake of the 2007-08 global financial crisis led to
the build-up of bad loans and dragged down investment rates and economic growth.

If followed through, this would mean a major squeeze on company finances, as they
scramble for resources to service loans to avoid bankruptcy, and a big demand on the
government to recapitalize the banks it owns, after they recognize and provide for a mass
of bad loans

Regulatory forbearance must be an emergency medicine, not a staple diet, is sound

advice. A moratorium by banks on debt service by borrowers has been a part of the
COVID cushioning to corporates. Many of these firms would face acute liquidity problems
when the moratorium ends

Fast growth that embraces all businesses would avert a crisis. Such Goldilocks perfection
rarely materializes in real life. many companies that could survive with access to liquidity
could go under when banks think it is time to do their asset quality reviews. The solution
is to provide such companies with capital that does not need to be serviced when they do
not make a profit on equity

Companies would need a whole lot of capital, to service existing loans and to invest in new
production, to cater to the demand thrown up by economic revival. The government had
promised a fund to funds that would mobilize large volumes of capital to invest in micro,
small and medium enterprises.

This is the time to walk the talk. The equity stakes can be sold later, hopefully at a profit.
Special situation funds, private equity, and allocations from retirement savings can be
tapped for the needed capital. Managing the investment is the challenge.

96. Which could be a suitable title for the above paragraph?

(a) Forbearance and Corporate Funding in Crisis Times
(b) Funding during crisis
(c) Bad loans and Indian corporates
(d) Funding crisis and COVID-19

97. What is the theme of the paragraph narrated above?

(a) Crisis of corporate funding during crisis times
(b) Forbearance of credit default
(c) Liquidity and survival of companies
(d) Moratorium by banks on debt service

98. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: The government had promised a fund of funds that would mobilize large
volumes of capital to invest in micro, small and medium enterprises

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Reason R: Companies would need a whole lot of capital, to service existing loans and to
invest in new production, to cater to the demand thrown up by economic revival.
In light of the above statements, choose the most appropriate answer from the options
given below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct
99. Given below are two statements:
Statement I: Forbearance of credit default is a common phenomenon in Indian banking
system
Statement II: Global financial crisis influences the quantum of bad loans in India
In light of the above statements, choose the correct answer from the options given below

100. Given below are two statements, one is labelled as Assertion A and the other is labelled as
Reason R
Assertion A: A moratorium by banks on debt service by borrowers has been a part of the
COVID cushioning to corporates
Reason R: Regulatory forbearance must be an emergency medicine but not a staple diet In
light of the above statements, choose the most appropriate answer from the options given
below
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct but R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct
ANSWERS
1 D 21 B 41 C 61 D 81 D
2 B 22 D 42 C 62 D 82 D
3 A 23 A 43 D 63 B 83 A
4 C 24 D 44 D 64 B 84 D
5 C 25 A 45 C 65 A 85 A
6 C 26 B 46 B 66 C 86 A
7 C 27 D 47 D 67 B 87 A
8 D 28 B 48 A 68 C 88 A
9 B 29 C 49 D 69 B 89 A
10 B 30 B 50 B 70 A 90 A
11 D 31 A 51 B 71 A 91 C
12 D 32 C 52 C 72 B 92 C
13 C 33 C 53 D 73 C 93 A
14 D 34 B 54 C 74 D 94 A
15 B 35 A 55 D 75 A 95 A
16 A 36 C 56 C 76 B 96 A
17 C 37 C 57 C 77 C 97 A
18 C 38 B 58 B 78 B 98 A
19 B 39 A 59 C 79 B 99 A
20 C 40 D 60 C 80 D 100 A

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UGC NET 2021 Commerce 25N Shift 2

1. FDI in Indian manufacturing has largely been
(a) Resource seeking
(b) Efficiency seeking
(c) Market seeking
(d) Export-oriented

2. Occasional sale of a commodity at a lower price abroad in order to unload an unforeseen

and temporary surplus of the commodity without reducing domestic prices is called :
(a) Persistent dumping
(b) Predatory dumping
(c) Export subsidies
(d) Sporadic dumping

3. Which of the following countries / territories is not a member of the WTO?

(a) China
(b) Russia
(c) Iran
(d) Taiwan

4. Which of the following entity has recently been negotiated to replace NAFTA with effect
from July 2020?
(a) Quad group of countries
(b) USMCA
(c) Shanghai cooperation organisation
(d) Trans Atlantic organisation

5. Amalgamation adjustment account is used for recording:

(a) Capital Reserve in the books of the transferee company
(b) General Reserve in the books of the transferee company
(c) Statutory Reserve in the books of the transferee company
(d) Revenue Reserve in the books of the transferee company

6. The accounting standard AS3 (Revised) has become mandatory w.e.f. accounting periods
beginning from 01-04-2001 for which of the following enterprise?
(a) Commercial, industrial and business reporting enterprises whose turnover for the
accounting period exceeds ₹50 crores.
(b) Enterprises whose debt or equity securities are not listed on a recognised stock
exchange.
(c) All enterprises whose turnover exceeds ₹2 crores.
(d) Only banking and insurance

7. CCA method of inflation accounting is as a result of the recommendation of?

(a) Wandilands Committee
(b) Tandlelands Committee
(c) Sandilands Committee
(d) Marrylands Committee

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8. The net profits of a partnership business, after providing for income tax for the last five
years were: रぁ. 80,000; रぁ. 1,00,000; रぁ. 1,20,000; रぁ. 1,25,000 and रぁ. 2,00,000. The capital
employed in the business is रぁ. 10,00,000 and the normal rate of return is 10%. The value
of goodwill on the basis of the annuity method; taking the present value of the annuity of
Re 1 for 5 years at 10% is रぁ. 3.7907 (approx): will be
(a) रぁ. 2,500 (approx)
(b) रぁ. 79,225 (approx)
(c) रぁ. 94,770 (approx)
(d) रぁ. 2,25,000 (approx)

9. The cross elasticity of demand between the complementary products is:

(a) Positive
(b) Zero
(c) Negative
(d) Infinite

10. Income effect of a price rise is greater than its substitution effect in case of:
(a) Inferior goods
(b) Giffen goods
(c) Status symbol goods
(d) Perishable goods

11. If the scale parameter (r) is greater than one (r> 1 ) the CES production function exihibits:
(a) Decreasing returns to scale
(b) Constant returns to scale
(c) Negative returns to scale
(d) Increasing returns to scale

12. When demand is slack and market is competitive, firms follow which of the following
pricing methods?
(a) Penetration pricing
(b) Peak load pricing
(c) Marginal cost pricing
(d) Skimming pricing

13. What is the value of a levered firm "L" if it has the same EBIT as an unlevered firm "U",
(With value of ₹ 700 lac), has a debt of ₹ 200 lac, tax rate is 35% under MM approach ?
(a) ₹ 950 lac
(c) ₹ 770 lac
(b) ₹ 630 lac
(d) ₹ 525 lac

14. ______is a percentage discount rate used in capital investment appraisals which brings the
cost of a project and its future cash inflows into equality.
(a) Accounting rate of return
(b) Internal rate of return
(c) Profitability Index
(d) Net present value

15. The theory which explains the effect of devaluation on balance of trade is known as:

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(a) Phillips Curve theory
(c) J Curve Theory
(b) Mundell - Tobin Hypothesis
(d) K Curve Theory

16. The annual demand for an item is 3,200 units. The unit cost is 6 and inventory carrying
charges 25% p.a. If the cost of one procurement is 150, determine number of orders per
year:
(a) 3
(b) 4
(c) 6
(d) 800

17. If each value in a given set of data is divided by 4, how will it affect Karl Pearson's
coefficient of Skewness?
(a) It will reduce the value of co-efficient to one fourth
(b) It will increase the value of co-efficient to four times
(c) It will not affect the co-efficient of Skewness value
(d) Nothing can be said about the change

18. A coin and pair of dice are tossed together, the total number of possible outcome for an
experiment is :
(a) 12
(b) 72
(c) 36
(d) 24

19. Each of the values of a series is decreased by K. Which of the following does not hold in
the context?
(a) The quartile deviation does not change.
(b) The co-efficient of quartile deviation remain unchanged.
(c) The lower and upper quartile values each increases by K.
(d) The quartile coefficient of dispersion rises.

20. For Binomial distribution with n = 30, q=0.7, the mean and variance will be equal to:
(a) 21 and √6.3
(b) 9 and √6.3
(c) 9 and 6.3
(d) 21 and 6.3

21. A type of validity based on showing that scores on the test (Predictors) are related to job
performance is:
(a) Test validity
(b) Criterion validity
(c) Content validity
(d) Construct validity

22. Which among the following is not a characteristics of transactional leaders?

(a) Gives personal attention, treats each employee individually.
(b) Abdicates responsibilities, avoid making decisions.
(c) Intervens only when standards are not met.
(d) Contracts exchange of rewards for efforts.

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23. Stretch goals that challenge people to achieve higher levels of success in current activities
is known as:
(a) Control stretch goals
(b) Cluster stretch goals
(c) Vertical stretch goals
(d) Horizontal stretch goals

24. Usually in which one of the following performance appraisal technique, subjects self-
ratings are negatively correlated with their subsequent performance in an assessment
_center?
(a) Appraisal by subordinates
(b) 360 3 Degree feedback
(c) Self-ratings
(d) Peer Appraisals

25. Which one of the following statements is true about the risk considered for capital
requirements under Basel II?
(a) Credit risk, interest rate risk and foreign exchange risk
(b) Credit risk, market risk and operational risk
(c) Credit risk, political risk and country risk
(d) Credit risk, interest rate risk and political risk

26. Which one of the following is not the characteristics of mutual funds?
(a) Consistent Investment process
(b) Strong fund management
(c) Diversity in interest rates
(d) Differences from the benchmark

27. Which one of the following statements is false?

(a) Capital market is a market for medium and long term funds.
(b) GDR is a negotiable instrument issued by a US bank.
(c) Many publicly listed companies in India trades their shares through Bombay stock
exchange or national stock exchange.
(d) Securities that are listed on various stock exchanges are eligible for being traded there,
are called listed securities.

28. Which one of the followings is not the service provided under NBFCs?
(a) Leasing services
(b) Implementing modernisation
(d) Mutual benefit finance services bank
(c) Asset management services

29. Which of the followings can be categorised as information processing services?

(a) Legal services
(b) Health care
(c) Education
(d) Management consultancy

30. Which of the following is not true about rural markets?

(a) Print media is not necessarily impactful in rural markets.
(b) Rural customer is price sensitive.

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(c) No significant change may be required in the advertising copy.
(d) Products should be simpler, easy to use, service and maintain.

31. Which of the following is not true for supply chain mangement approach?
(a) Joint reduction in channel inventories
(b) Large breadth of supplier base to increase competition and spread risk
(c) Risks and rewards are shared over long term
(d) Companies use intermodal transportation to reach to their markets

32. Which one of the following is true for consumers?

(a) Consumers are rational and think in a linear manner
(b) Culture and society have relationship to consumers' thoughts and feelings
(c) Consumers can be motivated to believe and internalise messages the way the marketer
desires
(d) Consumers can explain their thought and behaviour

33. The amount of penalty for making a false statement to the "Competition Commission" by a
person who is a party to a combination shall be between
(a) 20 lakhs to 50 lakhs
(b) 50 lakhs to 1 crore
(c) 8 lakhs to 10 lakhs
(d) 70 lakhs to 1 crore

34. 8A' Minor takes a loan of Rs.4,000/- from 'B' during his minority, on attaining majority,
he applies to 'B' for a further loan of Rs. 3,000/- 'B' gives this loan and obtains from 'A' a
combined promissory note of Rs. 7,000/- for the two loans. This is considered as:
(a) Void Contract
(b) Valid Contract
(c) Illegal Contract
(d) Unilateral Contract

35. Which among the following essence of the information technology act is not a correct
statement?
(a) Legal Recognition of Electronic documents
(b) Any contract for the sale or conveyance of immovable property or any Interest in such
property
(c) Legal Recognition of Digital signatures
(d) Justice Dispensation system for cyber crimes

36. Which one of the followings is not included in the term “Work" under copyright Act 1957?
(a) A Cinematographic film
(b) Layout designs of integrated circuits
(c) A sound recording
(d) A dramatic work

37. Tax audit is compulsory in case of a person in a profession whose gross receipts from the
profession exceed:
(a) Rs.1 crore
(b) Rs.40 lakh
(c) Rs.60 Lakh
(d) Rs.50 Lakh

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38. Maximum tax-free limit for payment received under voluntary retirement scheme is:
(a) Rs. 4,00,000
(b) Rs. 5,00,000
(c) Rs. 8,00,000
(d) Rs. 10,00,000

39. A is Resident in India aged 60 years earned agricultural income of Rs.5,00,000 and non-
agricultural income Rs.3,00,000 during the previous year 2019-20. What is tax libaility of
A?
(a) Rs. 72,000
(b) Rs.72,100
(c) Rs.2,600
(d) Nil

40. Any planning of tax which aims at reducing tax liability in legally recognised permissible
way can be termed as an instance of:
(a) Tax planning
(b) Tax avoidance
(c) Tax evasion
(d) Tax management

41. Identify the principles of trade policy framework from the followings under the WTO:
(A) Reciprocity and transparent
(B) Benefactory and resilient
(C) Non-discriminatory
(D) Binding and enforceable commitments
(E) Protective and benevolent
Choose the correct answer from the options given below:
(a) (A), (B) and (C) only
(b) (C). (D) and (E) only
(c) (A), (C) and (D) only
(d) (B). (D) and (E) only

42. The rights of the consumer as enunciated under section 6 of the consumer protection Act,
1986 includes:
(A) To be protected against the marketing of goods and services which are hazardous to
life and property
(B) To be assured the competitive price and low cost quality products and services
(C) To be assured that consumers' interests will service the due consideration at
appropriate forums
(D) To be protected for multiple use of products, profits, diversity and equity.
(E) To be informed about the quality, potency, purity and price of goods or service
Choose the correct answer from the options given below:
(a) (A), (B) and (C) only
(b) (B). (C) and (D) only
(c) (C), (D) and (E) only
(d) (A). (C) and (E) only

43. Which of the following events after the balance sheet date would normally qualify as
adjusting events according to AS-4 (Events after balance sheet date)?
(A) The insolvency of a customer on the balance sheet date
(B) A decline in the market value of investments

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(C) The declaration of an ordinary dividend
(D) The determination of the cost of assets purchased before the balance sheet date
Choose the most appropriate answer from the options given below:
(a) (A), (C) and (D) only
(b) (A) and (B) only
(c) (B) and (C) only
(d) (A) and (D) only

44. Management According information is used for which of the following distinctive purposes
(A) Measurement
(B) Control
(C) Recording transactions
(D) Alternative choices
Choose the most appropriate answer from the options given below:
(a) (A). (B) and (C) only
(b) (B). (C) and (D) only
(c) (A), (B), and (D) only
(d) (A) and (C) only

45. A U-shaped long-run average cost curve is based on the assumptions that:
(A) Greater division of labour and specialisation accure to larger firms
(B) Minimum cost of production at various levels of output
(C) Economies of scale prevail at small levels of output
(D) It becomes more difficult to manage the firm effectively as it grows bigger
(E) Diseconomies of scale prevail at larger level of output
Choose the correct answer from the options given below:
(a) (A), (B) and (C) only
(b) (B). (C) and (D) only
(c) (B). (C), (D) and (E) only
(d) (A), (C), (D) and (E) only

46. Identify the necessary conditions for price discrimination:

(A) There should be imperfect competition in markets
(B) Markets must be separable
(C) Differentiated products and interdependence between firms
(D) Elasticity of demand must be different in different markets
Choose the most appropriate answer from the options given below:
(a) (A), (B) and (C) only
(b) (A), (C) and (D) only
(c) (B), (C) and (D) only
(d) (A), (B) and (D) only

47. Which of the following explains downward slope of an ordinary demand curve?
(A) Income effect of price change
(B) Substitution effect of price change
(C) Utility Maximising behaviour of consumer
(D) Risk averse behaviour of consumer
Choose the most appropriate answer from the options given below:
(a) (A) and (B) only
(b) (B). (C) and (D) only
(c) (A), (B) and (C) only
(d) (A), (C) and (D) only

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48. The reasons put forth for the control over the activities of the international banks are:
(A) These banks encourage inflation by adding stock of money supply through credit
creation
(B) These banks some times are responsible for bank failures that mar the interest of the
depositors
(C) They cause unmanageable indebtedness among the barrowing governments by
charging high interest rates
(D) They do not adhere to the credit allocation policy of the host government
Choose the most appropriate answer from the options given below:
(a) (A), (B), (C) only
(b) (A), (C), (D) only
(c) (B), (C), (D) only
(d) (A), (B), (C), (D)

49. A new issue debt or shares will invariably involve floatation costs in the form of:
(A) Legal fees
(B) Administrative expenses
(C) Brokerage
(D) Underwriting
(E) Risk premium
Choose the most appropriate answer from the options given below:
(a) (A), (B), (D), (E) only
(b) (A), (C) only
(c) (A), (B). (C),(D) only
(d) (A), (B), (C), (D), (E)

50. Which of the following are the reasons for raising funds via securitization?
(A) To raise capital using non-conventional sources
(B) To accelerate earnings for financial reporting purposes
(C) To diversify funding resources
(D) The potential for reducing funding cost
Choose the most appropriate answer from the options given below:
(a) (A), (C), (D) only
(b) (B), (C), (D) only
(c) (C). (D) only
(d) (A), (B). (D) only

51. Non-sampling errors may arise because of:

(A) Vague definitions used in data collection
(B) Defective method of data collection
(C) Incomplete coverage of the population
(D) Wrong entry made in the questionnaire
(E) Only a part of the population is observed and expected to avoid census study
Choose the most appropriate answer from the options given below:
(a) (A), (B), (C), (D) only
(b) (A), (C), (D). (E) only
(c) (B). (C), (D). (E) only
(d) (A). (B). (D), (E) only

52. Which of the following are the correct statements with regard to positive skewed
distribution?

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(A) Mean Median>Mode
(B) Mean Median<Mode
(C) Q3-Median Median-Q1
(D) Q3-Median>Median-Q1
(E) Mean Median-Mod
Choose the correct answer from the options given below:
(a) (A), (D) only
(b) (A), (C) only
(c) (B), (C), (D) only
(d) (B), (C), (D), (E) only

53. Use of Focus Groups and collaboration tools as a training needs assessment technique
has the following disadvantages
(A) Time consuming or organize
(B) Unuseful with complex or controversial issues that one person may be unable or
unwilling to explore
(C) Questions cannot be modified to explore unanticipated issues
(D) Group members provide only information they think you want to hear
Choose the most appropriate answer from the options given below:
(a) (A), (B) only
(b) (B), (C) only
(c) (A), (D) only
(d) (C). (D) only

54. Principles of management are important and useful on account of the following reasons:
(A) To increase managerial efficiency
(B) To attain social objectives
(C) To train managers
(D) To improve research
(E) To coordinate material and human resources
Choose the most appropriate answer from the options given below:
(a) (A), (E) only
(b) (B), (D) only
(c) (B), (C), (D) only
(d) (A), (B), (C), (D), (E)

55. Which of the followings is not an approach to the structure of Indian Financial system?
(A) A brokerage can be either full service or discount
(B) The financial system is concerned about money, credit and finance, the three terms
are intimately related yet are some what different from each other
(C) Housing finance simply refers to providing finance for venture capital
(D) Financial instruments may also be divided according to asset class, which depends on
whether they are debt-based or equity based
Choose the correct answer from the options given below:
(a) (A). (C) and (D) only
(b) (B) and (D) only
(c) (C) only
(d) (A) and (C) only

56. Which of the following statements is/are correct regarding application of data mining
techniques?
(A) Predicting future trends based on information available

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(B) Electronic data interchange
(C) Analysing demographic information about customers
(D) Credit risk analysis
Choose the correct answer from the options given below:
(a) (B) and (D) only
(b) (A), (B), (C) and (D) only
(c) (A), (B) and (D) only
(d) (A). (C) and (D) only

57. Skimming pricing strategy delivers results:

(A) When the size of the market is large and it is a growing market
(B) When the product is perceived as enhancing the customer's status in society
(C) When the firm uses it as an entry strategy
(D) Choose the most appropriate answer from the options given below:
When the target market associates quality of the products with its price
(a) (A), (B) only
(b) (B), (D) only
(c) (B), (C) only
(d) (A), (C), (D) only

58. Requirements for effective market segmentation are:

(A) Accessibility
(B) Differentiation
(C) Measurable
(D) Vioble
(E) Intensity in competition
Choose the most appropriate answer from the options given below:
(a) (A), (B) only
(b) (B), (C), (E) only
(c) (A), (C), (D) only
(d) (A), (C), (D), (E) only

59. Environmental characteristics/factors influencing distribution decisions are

(A) Government policy
(B) State of economy
(C) Social activistism
(D) Technological and infrastructure developments
(E) Statutory provisions
Choose the most appropriate answer from the options given below:
(a) (A), (D) only
(b) (B). (C). (E) only
(c) (A), (C), (D) only
(d) (A). (B), (D). (E) only

60. Which of the following statements are true regarding the objectives of Right to Information
Act? Indicate the correct code :
(A) To operationalise the fundamental right to information
(B) To set up system and mechanisms that facilitate people's easy access to information
(C) To promote transparency and accountability in governance
(D) To minimize corruption and inefficiency in public offices and ensure people
participation in governance and desicion making
Choose the correct answer from the options given below:

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(a) (B). (C) and (D) only
(b) (A). (B), (C) and (D) all
(c) (A), (B), and (C) only
(d) (A). (B) and (D) only

61. Which of the following taxes have been replaced by the GST? Indicate the correct code :
(A) Central Excise duty
(B) Service tax
(C) Taxes on advertisements
(D) Duties of Excise-Medicinal and toilet preparations
Choose the correct answer from the options given below:
(a) (A), (B), (D) only
(2)(A), (B) only
(c) (B), (C), (D) only
(d) (C). (D) only

62. On which of the following grounds, the Tribunal may order for the winding-up- of a
company or a petition submitted to it. Indicate the correct code
(A) Passing of special resolution for the winding up
(B) Conducting affairs in a fraudulent manner
(C) Reduction in membership
(D) Inability to pay debts
Choose the correct answer from the options given below:
(a) (A), (B) and (C) only
(b) (A), (B) and (D) only
(c) (A), (B). (C) and (D) only
(d) (B), (C) and (D) only

63. Which of the following income is generally chargeable under the head of income from
other sources?
(A) Income from subletting house property
(B) Director fee
(C) Ground Rent
(D) Agricultural Income from outside India
(E) Insurance commission
(F) Income from sale of securities
Choose the most appropriate answer from the options given below:
(a) (A), (B), (D), (E) only
(b) (B), (C), (D), (E), (F) only
(c) (A), (B), (C), (E), (F) only
(d) (A), (B), (C), (D). (E) only

64. Which of the followings are included in person under section 17(1)?
(A) A Hindu Undivided Family (HUF)
(B) A company
(C) A firm
(D) An individual
(E) A local authority
(F) An association of persons
Choose the most appropriate answer from the options given below:
(a) (A). (C). (D). (F) only
(b) (C). (D). (E). (F) only

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(c) (B). (D), (E). (F) only
(d) (A). (B). (C). (D) (E) and (F)

65. The exemption with respect to HRA is based upon the following factors?
(A) Rent paid
(B) Place of Residence
(C) Salary
(D) HRA Received
(E) Fair Rent
(F) Market Rent
Choose the most appropriate answer from the options given below:
(a) (A), (B), (C), (D) only
(b) (A), (C), (D), (F) only
(c) (A), (B), (C), (F) only
(d) (A), (B), (E), (F) only

66. Match List I with List II:

List I List II
(A) International finance corporation (I) 1944
(B) International Development Association (II) 1967
(C) World Intellectual property organisation (III) 1956
(D) International bame for reconstruction (IV) 1960
and Development
Choose the correct answer from the options given below:
A B C D
1 4 1 3 2
2 2 4 1 3
3 3 2 4 1
4 3 4 2 1

67. Match List I with List II:

List I List II
(A) Bonus shares (I) Invitation to existing share holders to purchase additional
new shares
(B) Demat shares (II) Issue is made to existing members free of charge
(C) Right issue (III) Shares issues by a company to its employees/directors at
a discount for providing know-how
(D) Sweat equity share (IV) Shares in electronic form
Choose the correct answer from the options given below:
A B C D
1 2 4 1 3
2 2 1 3 4
3 4 3 2 1
4 4 1 2 3

68. Match List I with List II:

List I Objectives of business firms List II Economists
(A) Long-Run Survival (I) Marris, Robin
(B) Sales Revenue maximisation (II) Williamson, D.E.
(C) Firm's Growth Rate maximisation (III) Rothschild, K.W.
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(D) Managerial utility Function (IV) Baumol. W.J.
maximisation
Choose the correct answer from the options given below:
A B C D
1 2 3 4 1
2 4 2 3 1
3 3 4 1 2
4 2 3 1 4

69. Match List I with List II:

List I (Methods of Inventory Control) List II (Explanation)
(A) JIT system (I) Divide the items into the categories in the
descending order of their usuage rate.
(B) ABC Analysis (II) Divides items into categories in the descenting
order of their critical use.
(C) FSND Analysis (III) Inventory arrive to the manufacturing sites
just few hours before they are put to use
(D) VED Analysis (IV) The items of inventory are classified according
to value of usage.
Choose the correct answer from the options given below:
A B C D
1 1 2 3 4
2 2 3 4 1
3 3 4 1 2
4 4 3 2 1

70. Match List I with List II:

List I List II
(A) Probability distribution
(B) Binomial distribution
(C) Hyper geometric distribution
(D) Uniform distribution
Choose the correct answer from the options given below:
A B C D
1 2 3 4 1
2 2 3 1 4
3 2 1 3 4
4 1 2 3 4

71. Match List I with List II:

List I (Organisational Design) List II (Features)
(A) Learning organization (I) Flexibility in the structure or Lack of structure
(B) Spaghetti organization (II) Linking of separate parts of the same organisation or
networking of separate organisations to accomplish a
common goal.
(C) Fishnet organization (III) The ability to continually change structure and
internal processes to conform to feedback with the
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environment.
(D) Network structure (IV) Flexible, adaptable, rearranges itself quickly while
retaining its inherent strength
Choose the correct answer from the options given below:
A B C D
1 3 2 4 1
2 3 1 4 2
3 1 4 3 2
4 2 1 4 4

72. Match List I with List II:

List I List II
(A) Hedgers (I) Osaka
(B) Financial derivatives in India (II) Increased volatility
(C) Arbitrageurs (III) Commercial producers
(D) Commodity future in origin (IV) Riskless profit
Choose the correct answer from the options given below:
A B C D
1 1 4 2 3
2 3 2 4 1
3 4 3 1 2
4 2 1 3 4

73. Match List I with List II:

List I (Advertising Agency in 2020) List II (Brand)
(A) O&M (Ogilvy and Mather) (I) Mastercard
(B) Mc Cann Erickson (II) Nestle
(C) Trikaya Grey (III) Cadbury
(D) JWT Hindustan Thompson Associates (IV) Proctor and Gamble
Choose the correct answer from the options given below:
A B C D
1 3 2 4 1
2 3 1 4 2
3 2 4 1 3
4 2 3 1 4

74. Match List I with List II:

List I List II
(A) Actual Delivery (I) Delivery of means of obtaining possession of goods by the
seller to the buyer
(B) Constructive Delivery (II) Physical handing over of the possession of the goods by
the seller to the buyer
(C) Symbolic Delivery (III) Voluntary transfer of possession of goods from seller to
buyer
(D) Delivery (IV) Acknowledgement by a third person in possession of
goods to hold them on behalf of and at the disposal of the
buyers.
Choose the correct answer from the options given below:
A B C D
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1 4 1 3 2
2 2 4 1 3
3 1 3 4 2
4 3 2 4 1

75. Match List I with List

II:
List I List II
(A) Section 80 EE (I) Deduction in respect of rent paid
(B) Section 80 GG (II) Deduction in respect of certain donations for scientific
researches
(C) Section 80 GGA (III) Deduction in respect of interest on loan taken for residential
house
(D) Section 80 E (IV) Deduction in respect of payment of Interest on loan taken for
Higher Education.
Choose the correct answer from the options given below:
A B C D
1 2 4 1 3
2 3 1 2 4
3 3 1 4 2
4 2 4 3 1

76. Arrange the following countries in the ascending order of their contribution to the WTO
budget 2020:
(A) China
(B) Japan
(C) Germany
(D) United states of America
(E) United Kingdom
Choose the correct answer from the options given below:
(a) (A), (B), (D). (E) and (C)
(b) (D). (A), (B). (E) and (C)
(c) (E), (B), (C). (A) and (D)
(d) (D), (A), (B). (C) and (E)

77. The assests of the Partnership firm, including any sums contributed by the partners to
make- up deficiencies of capital at the time of dissolution, shall be applied in the following
manner and order:
(A) In paying each partner rateably what is due to him for advances as distinguished from
capital.
(B) In paying to each partner rateably what is due to him on account of capital.
(C) In paying the debts of the firm to third parties
(D) Dividing among the partners in the proportion in which they were entitled to share
profits.
Choose the correct answer from the options given below:
(a) (C). (A), (B). (D)
(b) (C). (B), (A), (D)
(c) (A), (B), (C), (D)
(d) (B), (C), (A), (D)

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78. Arrange the following market structures in the increasing order of the price elasticity of
products:
(A) Perfect competition
(B) Monopoly
(C) Monopolistic competition
(D) Oligopoly
(E) Duopoly
Choose the correct answer from the options given below:
(a) (C). (D), (E), (B), (A)
(b) (B), (E), (D), (C), (A)
(c) (C), (E), (D), (A), (B)
(d) (A). (C), (D), (E), (B)

79. The cash flow approach to assessing debt capacity involves the following steps; arrange
these steps in a correct sequence:
(A) Specify the tolerance limit on the probability of default.
(B) Estimate the probability distribution of cash flows, taking into account the projected
performance of the firm.
(C) Calculate the fixed charges by way of interest payment and principal repayment
associated with various levels of debt.
(D) Estimate the debt capacity of the firm as the highest level of debt which is acceptable.
Choose the correct answer from the options given below:
(a) (D). (C), (A), (B)
(b) (A), (B), (C). (D)
(c) (B), (C). (D), (A)
(d) (D), (A), (C). (B)

80. Arrange the following steps of formulating research proposal in a logical sequential order:
(A) Defining Research problem.
(B) Formulation of Hypothesis.
(C) Review of literature.
(D) Collection of data
(E) Research design
Choose the correct answer from the options given below:
(a) (A), (B), (C), (D). (E)
(b) (A), (E), (B), (C), (D)
(c) (A), (E). (C), (D), (B)
(d) (A). (C), (B), (E), (D)

81. Arrange the following stages of the process of organizational change in the sequential
order:
(A) Detailed consideration of the proposed change
(B) Collection of detailed information and development of alternative approaches in
relation to the problem or issues
(C) Evaluation of various alternatives and framing a proposal
(D) Vocalization of the need to change
(E) Search for the main cause underlying the symptoms encountered
Choose the correct answer from the options given below:
(a) (D). (E), (B). (A), (C)
(b) (D). (A), (E). (B), (C)
(c) (A), (E). (D), (C), (B)
(d) (B). (E), (D). (A), (C)

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82. Arrange the following steps, in a logical sequence of debt recovery by financial institutions
through Debt Recovery Tribunals (DRTs)?
(A) Restrain him from dealing with/disposing of the concerned assets/properties pending
at the hearing of the application.
(B) Direct him to disclose particulars of properties other than those specified by the
applicant bank.
(C) Show cause within 30 days as to why the relief should not be granted to the bank.
Choose thе E>rrеEt answer froш =е >Dиons given below.
(a) (B), (A), (C)
(b) (A), (B), (C)
(c) (B), (C), (A)
(d) (C), (B), (A)

83. Arrange the following steps of market feasibility study in the sequential order:
(A) Based on the cost and anticipated sales revenue, calculating the break-even price and
the sales volume.
(B) Forecasting sales, based on demand estimation and competitive analysis.
(C) Estimation of demand in the target market, of different price levels.
(D) Estimating the cost of serving the market segment.
Choose the correct answer from the options given below:
(a) (B), (C), (D), (A)
(b) (C). (B), (D), (A)
(c) (B), (D), (A), (C)
(d) (C). (B), (A), (D)

84. Arrange the following procedure for the grant of patent in a proper sequence:
(A) The true and first owner shall apply in form I and legal representative of true owner
shall apply in form II
(B) A complete specification shall be filled with a fee of Rs. 50/- within 12 months from
the date of filing of application
(C) The first inventor of the work who claims to be true and first owner or his legal
representative
(D) For each invention separate application for a patent shall be made
Choose the correct answer from the options given below:
(a) (A). (D), (C), (B)
(b) (C). (D), (A), (B)
(c) (B), (A), (D), (C)
(d) (B), (D). (C), (A)

85. Sequence the steps for computing depreciation in income from Business and Profession :
(A) The written down value of each block as on the last day of previous year
(B) Find the value of each block at the beginning of each year
(C) The money received along with scrap value, if any in respect of the same blocks, which
are sold/ discarded during the year
(D) Assets required during the year in the respective blocks to which the new assets
belong
Choose the correct answer from the options given below:
(a) (A), (B), (C), (D)
(b) (B). (D), (C), (A)
(c) (A), (B), (D), (C)
(d) (D). (B). (C). (A)
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86. Given below are two statements. One is labelled as Assertion A and the other is labelled as
Reason R :
Assertion A: Foreign investment is playing an increasing role in economic development
and contributes to a significant share of the domestic investment, employment generation
and exports.
Reason R : Substantial increase in the magnitude of capital inflows have remarkably
improved the balance of payments and foreign exchange reserve position.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct and R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

87. Given below are two statements:

Statement I: If firms are disproportionately powerful, the market leader makes the first
move and captures two-thirds of the market share, while the follower firm gets only a
third of the market share.
Statement II: Oligopolist firms do better by cooperating than following its dominant
strategy.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement I and Statement II are correct
(b) Both Statement I and Statement II are incorrect
(c) Statement I is correct but Statement II is incorrect
(d) Statement I is incorrect but Statement II is correct

88. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A : Mean deviation is about 80% of Standard Deviation.
Reason R : The quartile deviation is about 2/3 of the Standard Deviation.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true and R is NOT the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

89. Given below are two statements:

Statement I : Capital market plays an important role in mobilising resources and diverting
them in productive channels.
Statement II : Capital market is a market where buyers and sellers engage in trade of
financial securities like bonds, stocks, etc.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false
(d) Statement I is false but Statement II is true

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90. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R.
Assertion A : A, the owner of a ship by fraudulently representing her to be seaworthy
induces B, on underwriter to insure the ship.
Reason R : B can obtain cancellation of the policy, as it is a fraud on account of
fraudulent misrepresentation under the contract act.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true and R is NOT the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Read the passage and answer the question

Recuperating of the impact of Covid-19. India attained 13% growth boosted by
investments in the digital sector. Infrastructure and energy deals also propped up M&A
deals in India. As a result India could achieve 13% growth in Foreign Direct Investment
(FDI) in 2020 Amidst global collapse, China is the only other country that has shown
remarkably high FDI growth.

An investment trends monitor' issued by the United Nations Conference on Trade and
Development (UNCTAD) pointed out, global FDI collapsed in 2020 by 42% to an estimated
USD 859 billion from USD 1.5 trillion in 2019. China and India were two major outliers in
a gloomy year for foreign direct investment.

India achieved positive growth (13%), boosted by investments in the digital sector where
the investments continued, particularly through acquisition. Cross border M&A grew 83%
to $27 billion. Infrastructure and energy deals also propped up M&A deals in India. India
and Turkey are attracting good numbers of deals in IT consulting and digital sectors,
including e- commerce platforms, data processing services and digital payments. In terms
of individual nations in ICT and pharmaceutical sector, China was the world's largest FDI
recipient, with flows to the Asian giant rising by 4% to $163 billion. High-tech industries
saw an increase of 11% in 2020, and cross-border M&As rose by 54%.

"Although their investment activity slowed down initially in 2020, they are now set to take
advantage of low interest rates and increasing market values to acquire assets in overseas
markets for expansion, as well as rivals and smaller innovative companies affected by the
crisis.

91. Which countryoutlined in the world in terms of FDI inflows in ICT and pharmaceutical
sector?
(a) India
(b) USA
(c) Israel
(d) China

92. The author opines in the paragraph that which of the following has helped to acquire
assets in overseas markets for expansion.
(a) Low interest rates and increasing market values
(b) low per capita incomes and high resources
(c) Attractive markets and overseas valuations
(d) Governmental support and incentivization to promote cross border trade.
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93. Annual increase /decrease in India's annual FDI inflows and Global FDI flows,
respectively are:
(a) USD 27 billion and USD 163 billion
(b) +13% and -42%
(c) -4% and +11%
(d) Data not available

94. India and Turkey are attracting record numbers of deals in

(a) Overall production
(b) IT consulting and digital sectors
(c) Pharmaceutical and allied sectors
(d) GDP and Per Capita Income

95. Which statement is not true about China?

(a) FDI inflows increase by 4%
(b) International M&A increase by 54%
(c) Highest FDI in ICT and Pharmaceutical sector
(d) USD 1.5 Trillion sized economy

1)
Read the following passage and answer question in the most appropriate manner.
Management theories help organizations to focus, communicate, and evolve. Using
management theory in the workplace allows leadership to focus on their main goals.
When a management style or theory is implemented, it automatically streamlines the top
priorities for the organization. Management theory also allows us to better communicate
with people we work with which in turn allows us to work more efficiently. By
understanding management theory, basic assumptions about management styles and
goals can be assumed and can save time during daily interactions and meetings within an
organization.
Theories can only reach so far, and management theories are no exception. There is
no such thing as a one-size-fits-all management theory. What may work for one
organization may not be relevant for another. Therefore, when one theory does not fit a
particular situation, it is important to explore the option of developing a new theory that
would lead in a new, more applicable direction. While some theories can stand the test of
time, other theories may grow to be irrelevant and new theories will develop in their place.
From the late 1700s through the early 1900s, the Industrial Revolution brought
extraordinary change to the workplace and forever transformed the way companies
operate. The Industrial Revolution brought better and faster technology allowing
companies to perform more efficiently than ever before and gave them the ability to
dramatically increase their output. In order to meet demand, company leadership had to
ensure their employees were productive.

96. Given below are two statements:

Statement I: Management is the ultimate tool for achieving business goals.
Statement II: It was management only which initiated industrial revolution.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement I and Statement II are true
(b) Both Statement I and Statement II are false
(c) Statement I is true but Statement II is false

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(d) Statement I is false but Statement II is true

97. What helps leadership to focus on their main goal?

(A) Management theories
(B) Organizational structure
(C) Inter-personal relations
(D) Effective HR policies
(E) Government Directives
Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (B). (C). (D) only
(c) (A), (B) only
(d) (A) only

98. In the paragraph, what is meant by "There is no such thing as a non-size fits all
management theory"
(A) Management theories keeps on changing
(B) There are different theories for different situations
(C) A business can't grow without management theories
(D) Management theories are non-scientific
Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (B). (C). (D) only
(c) (C). (D) only
(d) (A), (B) only

99. Given below are two statements: One is labelled as Assertion A and the other is labelled as
Reason R:
Assertion A: The industrial revolution brought better and faster technology allowing
companies to perform more efficiently than ever before and gave them ability to
dramatically increase their output.
Reason R: In order to meet demand, company leadership had to ensure their employees
were productive.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both A and R are correct and R is the correct explanation of A
(b) Both A and R are correct and R is NOT the correct explanation of A
(c) A is correct but R is not correct
(d) A is not correct but R is correct

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

(a) Industrial revolution was a turning point in Business operations.
(b) Management theories are ever changing
(c) Good management makes communication flow better
(d) Management always moves in a straight line

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

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COMMERCE 2020 PAPER 2 SHIFT-1

1. As per Section 80G maximum deduction allowed for any cash donation is upto
(a) Rs. 1.000
(b) Rs. 2,000
(c) Rs. 5,000
(d) Rs. 10,000

2. In Leontief production function, L is considered as

(a) Structural constraint in the production process
(b) Degree of Homogeneity
(c) Binding constraint in the production process
(d) Optimisation constraint in the production process

3. EPRG framework in International Business refers to

(a) Ethno, Poly, Regio, Geo Transformations
(b) Ethnocentric, Polycentric, Regiocentric and Geocentric Orientations
(c) Ethics, Policies, Regulations, Guidelines Orientations
(d) Every Person Refers Global Framework

4. Which one of the following is not a major direct selling company in India?
(a) Eureka Forbes
(c) Modicare
(b) Amway India Enterprises
(d) Hindustan Unilever Ltd.

5. Which one of the following statements is "True' in partnership?

(a) In the absence of any provision in the partnership deed, only a working partner is
entitled to remuneration.
(b) Any firm which earns normal profit has no goodwill.
(c) The business of the firm must be carried on by all the partners.
(d) Interest on loan given by a partner to the firm shall be paid if there are profits.

6. Which of the following relationships is true in a model distribution?

(a) Mean - Mode = 3 (Mean - Median)
(b) Mode = 3 Median - 2 Mean
(c) 3 Median = 2 Mean + Mode
(d) 2 Median-3 Quartile Deviation = 2 Mean

7. In continuous compounding, the time it takes to double the sum grossly follow 'Rule of
69'. If it is changed to discrete compounding, the relevant rule of thumb is
(a) Rule of 69.3
(b) Rule of 72
(c) Rule of 84
(d) Rule of 64

8. The 'going concern concept is the underlying basis for

(a) Disclosing the market value of securities
(b) Consolidating the accounts of subsidiary companies with those of parent company
(c) Depreciating fixed assets over their useful lives

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(d) Disclosing the sales and other operating information in the income statement

9. Constraint Optimisation' is closer to which of the following objectives of business firm?

(a) Sales maximisation
(b) Profit maximisation
(c) Satisfying behaviour
(d) Rent seeking behaviour

10. In a rising consumer income scenario, the preferred decision choice of business firms for
low income elastic products will be
(a) Product promotion
(c) Product repositioning
(b) Cost control
(d) Product improvement

11. If an estimated Cobb-Douglas production function is Q-10K0.610.8, what type of returns

to scale does this production function indicate?
(a) Increasing returns
(b) Decreasing returns
(c) Constant returns
(d) Negative returns

12. Pricing strategy of setting a high price when a product is introduced and gradually
lowering its price is known as
(a) Skimming
(b) Penetration pricing
(c) Peak load pricing
(d) Dumping

13. Which one of the following is not true for Mass Marketing?
(a) Provides very little scope for customisation
(b) Normally followed in case of FMCG and SMCG Goods
(c) Deals with customers directly
(d) Relies heavily on advertising

14. A manufacturing enterprise monthly consumes 1,350 units of raw material at the cost of
Rs. 20 per unit. Determine its economic order quantity given the ordering cost of Rs.
2,400 and carrying cost of inventory being 30 percent of the price paid.
(a) 3,600 units
(b) 2,400 units
(c) 4,800 units
(d) 2,700 units

15. The portfolio theory articulates diversification to reduce which of the following risks?
(a) Market risk
(b) Financial risk
(c) Unsystematic risk
(d) Business risk

16. When foreign currency assets and liabilities match in terms of amount of exposure and
timing of maturities, it is described as :
(a) Financial hedge

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(b) Natural hedge
(c) Perfect hedge
(d) Netting

17. What is the probability that a randomly choosen card from a deck of cards will either be a
King or a Spade?
(a) 0.3077
(b) 0.3269
(c) 0.0384
(d) 0.3169

18. The standard deviation of the binomial distribution is:

(a) ?@
(b) √np
(c) npq
(d) √npq

19. When sampling is done without replacement then standard error of mean is: \σ

20. Which of the following is not an example of compressed data?

(a) Data array
(b) Frequency distribution
(c) Histogram
(d) Ogive

21. The Human Relations Approach rejected the rabble hypothesis by giving which of the
following argument?
(a) The worker does not work for money only.
(b) A worker operates in a techno-economic system with no room for emotions.
(c) Authoritarian style of leadership is more productive.
(d) Individual pays attention to self-achievement irrespective of informal group norms.

22. Which of the following is not correct with respect to matrix organisation?
(a) It is a combination of functional and product organisation
(b) Functional departments are not permanent fixtures of a matrix organisation
(c) Product departments are created as the need for them arises
(d) Team members have functional home when they are not needed on a project

23. As per Carroll Model, the four levels of Corporate Social Responsibility are :
(a) Physical, economic, social and legal
(b) Physical, economic, legal and ethical
(c) Philanthropic, economic, legal and ethical
(d) Philanthropic, economic, social and ethical

24. Who coined the term 'Collective Bargaining"?

(a) Reed Richardson
(c) W.E. Deming
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(b) Kurt Lewin
(d) Sydney Webb and Beatrice Webb

25. The headquarters of the ASEAN is located in which of the following country?
(a) Indonesia
(b) Vietnam
(c) Thailand
(d) Singapore

26. What is the rate of tax deduction at source from insurance commission in case of
'Person":
(a) 2 percent
(b) 5 percent
(c) 10 percent
(d) 4 percent

27. Which of the following is a long term source of finance?

(a) Commercial Paper (CP)
(b) External Commercial Borrowings (ECB)
(c) Factoring
(d) Line of Credit (LOC)

28. What is a Repo Rate"?

(a) Is the rate at which RBI lends to State Government
(b) Is the rate at which International aid agencies lends to RBI
(c) Is the rate at which the RBI lends to Banks in case of short maturity
(d) Is the rate at which RBI borrows funds from the Commercial Banks in the country

29. In Marketing, DSA stands for

(a) Delivery Staff Agency
(b) Direct Supplier Agent
(c) Direct Selling Agent
(d) Distribution and Supply Agency

30. In which of the following stages of product life cycle a company reduces sales promotion to
take advantage of heavy consumer demand?
(a) Introduction
(b) Growth
(c) Maturity
(d) Decline

31. In which of the following price adjustment strategies, a company reduces prices to reward
customer responses such as volume purchases, paying early or promoting the product?
(a) Discount and allowance pricing
(b) Psychological pricing
(c) Promotional pricing
(d) Dynamic pricing

32. Some doctors charge patients for missed appointments because the service value existed
only at that point and disappeared when the patient did not show up, is an example of
which one of the following four service characteristics?
(a) Inseparability

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(b) Intangibility
(c) Variability
(d) Perishability

33. Which one is False as per the relevant provisions of the Indian Contract Act, 1872?
(a) A void agreement is one that is not enforceable by law
(b) Assignment is the obvious mode of discharge of a contract
(c) Where a party waives its rights under the contract, the other party is released of its
obligations under the contract
(d) Where the subject matter of a contract is destroyed for no fault of the promisor, the
contract does not become void by impossibility of performance

34. Which of the following is not an implied condition in a contract of sale?

(a) Condition as to quality or fitness
(b) Condition as to merchantable quality
(d) Condition as to free from encumbrances Condition as to wholesomeness

35. Which of the following does not come under the definition of "Information" under RTI Act,
2005?
(a) Log Books
(b) Circulars
(c) File Notings in the process
(d) Data material held in any electronic form

36. Under which section of Information Technology Act of 2000, updated in 2008, stealing any
digital asset or information is considered as cyber crime?
(a) 65
(b) 65-D
(c) 67
(d) 70

37. Which one of the following statements is true for the set off and carry forward of loss
under the head 'house property' in India?
(a) Can be carried forward for 8 years
(b) Can not be carried forward
(c) Can be carried forward for 4 years
(d) Can be carried forward infinitely

38. Surcharge of 10% (percent) is payable by an Individual where the total income exceeds :
(a) Rs. 7,50,000/-
(b) Rs. 8.50,000/-
(c) Rs.50,00,000/-
(d) Rs. 20,00,000/-

39. Mohan, has rendered his services in India and retired in 2015. He then shifted and settled
in Singapore. The pension received by him for such services would be
(a) Deemed to accure or arise outside India
(b) Deemed to accure or arise in India only when it is received in India
(c) Deemed to accure or arise in India only when it is received outside India
(d) Deemed to accure or arise in India

40. Sugam is also known as:

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(a) ITR-1
(b) ITR-2
(c) ITR-4
(d) ITR-6

41. Mercosur, a South American Trade block is a :

(a) Free Trade Area
(b) Common Market
(c) Custom Union
(d) Economic Cooperation

42. Which of the following are possible negative impacts of FDI on domestic firms in host
countries?
(A) Market monopoly
(B) Technology dependence
(C) Increased competition
(D) Profit outflow
Choose the correct answer from the options given below:
(a) (A), (B) only
(b) (B). (C) only
(c) (A), (B), (D) only
(d) (B), (C), (D) only

43. Charging different prices for the same product in different markets until the MR of last
unit sold equals the MC of the product sold in each market is described by
(A) Price discrimination of first degree
(B) Price discrimination of second degree
(C) Price discrimination of third degree
(D) Equilibrium price
(E) Price discrimination
Choose the correct answer from the options given below:
(a) (A) and (B) only
(b) (A) and (C) only
(c)(C) and (E) only
(d) (A) and (D) only

44. Arrange the following steps in logical sequence of operation of the Arbitrage Pricing Theory
(APT).
(A) Estimate the Factor Sensitivities
(B) Estimate the Risk Premium for Factor(s)
(C) Identify the Macroeconomic Factors
Choose the correct answer from the options given below:
(a) (A), (B), (C)
(b) (B), (A), (C)
(c) (C), (B). (A)
(d) (C), (A), (B)

45. Cost audit for Materials covers :

(A) Goods inward procedure.
(B) Methods of calculating standard cost variance.
(C) Classification of overhead.
(D) Accounting for scrap, wastage, materials transfers

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(E) Accounting treatment of under or over absorption
Choose the most appropriate answer from the options given below:
(a) (A), (D) only
(b) (A), (E) only
(c) (A), (B) only
(d) (E). (C) only

46. Which of the following explains the declining slope of indifference curves?
(A) Diminishing marginal utility
(B) Diminishing Marginal Rate of substitutions between the commodities
(C) Diminishing Marginal Rate of technical substitution
(D) Ordinal measurement of utilities
(E) Diminishing Marginal utility of money
Choose the most appropriate answer from the options given below:
(a) (A) and (D) only
(b) (B) and (D) only
(c) (C) and (D) only
(d) (A) and (E) only

47. Which of the following is/are condition(s) for price discrimination of product?
(A) Firm must have some monopoly power.
(B) Market must be separable or able to be segmented
(C) Price elasticities of demand for the product in different market must differ
(D) Free entry and exit of firms
Choose the correct answer from the options given below:
(a) (A) and (D) only
(b) (B). (C) and (D) only
(c) (A), (C) and (D) only
(d) (A), (B) and (C) only

48. Consumer rationality in business economics is collective manifestation of which of the

following assumptions?
(A) Non-Satiation
(B) Clarity of preferences
(C) Divisibility of goods and services
(D) Economic selfish motive
(E) Possession of information
Choose the most appropriate answer from the options given below:
(a) (A), (B) and (D) only
(b) (A), (C) and (E) only
(c) (A), (B), (C) and (D) only
(d) (A), (B), (D) and (E) only

49. Net Present Value (NPV) and Internal Rate of Return (IRR) methods yield conflicting
outcomes due to
(A) Unconventional cash flows
(B) Investment size disparity
(C) Investment life disparity
(D) Cash flow pattern disparity
Choose the most appropriate answer from the options given below:
(a) (A) and (B) only
(b) (A) and (C) only

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(c) (A), (B) and (C) only
(d) (B), (C) and (D) only

50. In which of the following situations, the payback period method is advised for evaluation
of investment opportunities?
(A) Overleveraged businesses
(B) Cash rich businesses
(C) Uncertain market conditions
(D) Stable market conditions
Choose the most appropriate answer from the options given below:
(a) (A) and (B) only
(b) (A) and (C) only
(c) (B) and (C) only
(d) (C) and (D) only

51. The Regression Coefficient is independent of the change of

(A) Scale only
(B) Origin only
(C) Both Scale and Origin
(D) Neither Scale nor Origin
Choose the most appropriate answer from the options given below:
(a) (A) only
(b) (B) only
(c) (C) only
(d) (D) only

52. Which of the following are positional averages?

(A) Arithmetic Mean
(B) Median
(C) Mode
(D) Geometric Mean
(E) Harmonic Mean
Choose the most appropriate answer from the options given below:
(a) (B), (C) only
(b) (B), (C), (D) only
(c) (B). (C), (A) only
(d) (A), (B), (C), (D) only

53. Which of following is not correct about properties of correlation coefficient?

(A) Depends on the origin.
(B) Depends on the scale.
(C) Depends on both origin and scale.
(D) Is independent with respect to origin.
(E) Is independent with respect to unit of scale.
Choose the correct answer from the options given below:
(a) (A), (D), (E) only
(b) (A). (B), (D) only
(c) (A), (B), (C) only
(d) (D). (E), (B) only

54. What type of defense mechanism is used by a person when he gets angry at his child or
spouse because he had a bad day at work?

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(A) Denial
(B) Repression
(C) Projection
(D) Displacement
(E) Regression
Choose the most appropriate answer from the options given below:
(a) (A) and (B) only
(b) (B) only
(c) (D) only
(d) (E) only

55. Out of the following statements which of them explains the difference between
enculturation and acculturation as a part of Cross-Cultural Training?
(A) Enculturation refer to the process of learning and adopting host cultural norms, and
acculturation is the process of learning our own native culture.
(B) Enculturation is a anthropological term used for socialisation like acculturation.
(C) Both terms refer to the process of Learning through social interaction.
(D) Enculturation refers to the process of learning our own culture, and acculturation
refers to the process of learning host cultural norms.
Choose the most appropriate answer from the options given below :
(a) (A), (B), (C) only
(b) (B), (D) only
(c) (B), (C), (D) only
(d) (A), (B), (C) and (D) only

56. Which of the following financial institution(s) got merged with their subsidiary?
(A) UTI
(B) IFCI
(C) ICICI
(D) IDBI
(E) Global Trust Bank
Choose the correct answer from the options given below :
(a) (A), (B) only
(b) (B). (C) only
(c) (C), (D) only
(d) (C), (E) only

57. Objectives of IMPS (Immediate Payment Service) are:

(A) To enable bank customers to use mobile instruments as a channel for accessing their
banks accounts and remit funds 24 x 7.
(B) Making payments simpler just with the mobile number of the beneficiary.
(C) To build the foundation for a full range of mobile based banking services
(D) To create competition with NEFT and RTGS
Choose the most appropriate answer from the options given below:
(a) (A), (B), (C) only
(b) (B), (C), (D) only
(c) (A), (B), (D) only
(d) (B). (D) only

58. Which among the followings are correct statements with regard to NBFC in India?
(A) All NBFCs should be registered with RBI.
(B) NBFCs cannot accept demand deposits.

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(C) NBFCs do not form part of the payment and settlement system and cannot issue
cheques drawn on itself.
(D) Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is
not available to depositors of NBFCs.
Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (A), (B), (C), (D) only
(c) (A), (B). (D) only
(d) (A), (D) only

59. Which of the following are true about delivering customer value?
(A) A company can go alone in creating customer value
(B) Company must work within a broader network of partners to accomplish customer
value.
(C) Individual companies and brands compete; their entire value delivery networks don't.
(D) Individual companies and brands don't compete; their entire value delivery networks
do.
(E) Value = Contribution/cost (offer higher contribution through product or service to
clients and lowers the cost)
Choose the most appropriate answer from the options given below :
(a) (A) and (E) only
(b) (A), (B) and (E) only
(c) (B). (C) and (E) only
(d) (B), (D) and (E) only

60. Market for automobiles needs to be segmented on the basis of:

(A) Buying behaviour
(B) Psychographics
(C) Geographics
(D) Demographics
Choose the most appropriate answer from the options given below:
(a) (A). (D) only
(b) (C), (D) only
(c) (A). (B), (D) only
(d) (A), (B), (C), (D)

61. The strategies of flanking defense, preemptive defense, mobile defense, contractor defense
and counter offensive defense is used by which market player?
(A) Market challenger
(B) Market leader
(C) Market follower
(D) Market Nicher
(E) Start up Marketer
Choose the most appropriate answer from the options given below:
(a) (A) only
(b) (B) only
(c) (C) only
(d) (B), (E) only

62. Out of the following statements, which is not correct about the RTI Act, 2005?
(A) The RTI Act come into force from October 13, 2005.
(B) Any citizen may request information from a Public Authority (Both Govt. and Private)

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(C) Reply for information asked can be given within 30 days.
(D) There is a nominal application fee that are needs to pay to get information under the
RTI application.
(E) For getting information, applicant has to pay Rs. 10/- per page of information for
Central Govt. Departments.
Choose the correct answer from the options given below:
(a) (A), (B). (E) only
(b) (B). (E) only
(c) (C), (E) only
(d) (B), (C), (D), (E) only

63. Out of the following, which are not the features of GST 2017 in India.
(A) GST is applicable on 'supply' of Goods and Services.
(B) GST is based on the principle of origin based taxation rather than principle of
destination based consumption.
(C) Import of Goods is treated as Inter-State supplies and would be subject to IGST in
addition to applicable Custom Duties.
(D) It is a dual taxation with Centre and State simultaneously levying it on a common
base.
(E) GST is applicable to all Goods and Services without any exemptions.
Choose the correct answer from the options given below:
(a) (A), (B), (E) only
(b) (B), (C), (E) only
(c) (B). (E) only
(d) (C), (D). (E) only

64. Which of the followings is correct about deduction available in respect of contribution to
various provident funds in case of salaried employees?
(A) Employer's contribution to recognised provident fund is exempted upto 12% of salary.
(B) Employer's contribution to unrecognised provident fund is exempted from tax.
(C) Employer does not contribute to Public Provident Fund.
(D) Deduction under Section 80 C is available for employer's contribution in unrecognized
provident fund.
Choose the correct answer from the options given below:
(a) (A), (B). (C) only
(b) (A), (B), (D) only
(c) (B). (C), (D) only
(d) (A). (C), (D) only

65. Which of the following expenses debited to Profit and Loss a/c but disallowed while
computing income from Business?
(A) General Expenses
(B) Personal Expenses
(C) Expenses of Income which is taxable under the other heads of income
(D) Charities and donations
Choose the correct answer from the options given below:
(a) (A), (B), (C) only
(b) (B), (C), (D) only
(c) (C), (D) only
(d) (A), (B), (C), (D) only

66. Match List I with List II

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List I Authors of Trade Theory List II Name of Theory
(A) Steffan Linder (I) Product Life Cycle Theory
(B) Raymond Vernon (II) Country Similarity Theory
(C) Hecksher-Ohlin (III) Absolute Advantage Theory
(D) Adam Smith (IV) Factor Proportion Theory
Choose the correct answer from the options given below:
(a) (A)-(IV), (B)-(III), (C)-(II), (D)-(1)
(b) (A)-(II), (B)-(I), (C)-(IV), (D)-(III)
(c) (A)-(I), (B)-(III), (C)-(IV), (D)-(II)
(d) (A)-(III), (B)-(II), (C)-(I). (D)-(IV)

67. Match List I with List II

List I List II
(A) Standard Costing (I) Financial forecasting and planning
(B) Margin of Safety (II) Sales minus break-even sales
(C) Ratio Analysis (III) Control of inventory
(D) JIT System (IV) Management by exception
Choose the correct answer from the options given below:
(a) (A)-(IV), (B)-(II), (C)-(I), (D)-(III)
(b) (A)-(III), (B)-(I), (C)-(II), (D)-(IV)
(c) (A)-(II). (B)-(III). (C)-(I). (D)-(IV)
(d) (A)-(I). (B)-(II), (C)-(IV), (D)-(III)

68. Match the market forms in the List I and the role of the selling costs in the List II
List I Market Forms List II Role of selling costs
(A) Perfect Competition (I) Sustained survival of firm
(B) Monopoly (II) Influencing buying behaviour
(C) Monopolistic Competition (III) Increasing market size
(D) Oligopoly (IV) Intimation of product or service
Choose the correct answer from the options given below:
(a) (A)-(I). (B)-(III), (C)-(IV), (D)-(II)
(b) (A)-(IV), (B)-(II). (C)-(I). (D)-(III)
(c) (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
(d) (A)-(II), (B)-(I). (C)-(III). (D)-(IV)

69. Match List I with List II

List I List II
(A) Mezzanine Capital (I) It is the speedy source of finance less regulated by the
regulatory environment of debt and capital markets.
(B) Private Equity (II) It is long term capital embraced by the high networth
and high risk appetite investors.
(C) Global Depository (III) It is an equity instrument issued in overseas markets
Receipts and is listed and traded on bourses on an OTC basis.
(D) Venture Capital (IV) It refers to subordinated debt or preferred equity that
allows firms to borrow additional capital beyond the levels
lenders are willing to finance through the bank loans.

Choose the correct answer from the options given below:

(a) (A)-(II), (B)-(IV), (C)-(I), (D)-(III)
(b) (A)-(I). (B)-(III). (C)-(IV), (D)-(II)

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(c) (A)-(IV), (B)-(I), (C)-(III), (D)-(II)
(d) (A)-(III), (B)-(II), (C)-(I), (D)-(IV)

70. Match List I with List II

List I List II
(A) Bayes' Theorem (I) PE=1-P(E)
(B) Conditional Probability (II) PEE) = P(E)+P(E2)
(C) Theorem of complementary events (III) PE2/E)= PEE) PE
(D) Theorem of addition PHOE (IV) PH/E= PE
Choose the correct answer from the options given below:
(a) (A)-(I). (B)-(IV), (C)-(III), (D)-(II)
(b) (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
(c) (A)-(III), (B)-(IV), (C)-(I), (D)-(II)
(d) (A)-(IV), (B)-(III). (C)-(I), (D)-(II)

71. Match List I with List II

List I List II
(A) I am Not OK, you are Not OK (I) Dependent
(B) I am OK, you are Not OK (II) Confronting
(C) I am OK, you are OK (III) Withdrawn
(D) I am Not OK, you are OK (IV) Task obsessive
Choose the correct answer from the options given below:
(a) (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
(b) (A)-(III), (B)-(II), (C)-(IV), (D)-(I)
(c) (A)-(I). (B)-(II), (C)-(III), (D)-(IV)
(d) (A)-(II). (B)-(I). (C)-(III). (D)-(IV)

72. Match List I with List II

List I Capital Structure Preposition(s) List II Description(s)
(A) Target Capital Structure (I) Expected yield on the equity capital is
equal to the pure equity return plus a
premium for financial risk.
(B) Optimum Capital Structure (II) It refers to the perceived costs due to
increased ratio of debt in the firm.
(C) Cost of financial distress (III) It is the debt ratio the firm strives to
achieve.
(D) MM preposition-II (IV) It is the debt-equity ratio that
maximises the value of the firm.
Choose the correct answer from the options given below:
(a) (A)-(II), (B)-(III). (C)-(I), (D)-(IV)
(b) (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
(c) (A)-(IV), (B)-(II), (C)-(III), (D)-(I)
(d) (A)-(I). (B)-(III), (C)-(II), (D)-(IV)

73. Match List I with List II

List I (Authors) List II (Ideas)
(A) Bill Bishop (I) Managing in the Market Space
(B) D. Bird (II) Commonsense Direct Marketing
(C) Daniel S. Jonal (III) Strategic Marketing for the Digital Age
(D) Jeffery F. Rayport (IV) On-line Marketing

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Choose the correct answer from the options given below:
(a) (A)-(III), (B)-(II), (C)-(IV), (D)-(I)
(b) (A)-(I). (B)-(II), (C)-(III), (D)-(IV)
(c) (A)-(II), (B)-(I), (C)-(IV), (D)-(III)
(d) (A)-(IV), (B)-(III), (C)-(II), (D)-(I)

74. Match List I with List II

List I List II
(A) Limited Liability Partnership (I) It can be formed with a minimum of two individuals
or body corporate through their nominees.
(B) Particular Partnership (II) It is formed for a specific venture or for a particular
period.
(C) Partnership (III) It is an association of two or more individuals.
(D) Mutual Agency (IV) A partner is both an agent and a principal in a
partnership firm.
Choose the correct answer from the options given below:
(a) (A)-(I). (B)-(II), (C)-(III). (D)-(IV)
(b) (A)-(II), (B)-(III), (C)-(I), (D)-(IV)
(c) (A)-(II), (B)-(I), (C)-(III), (D)-(IV)
(d) (A)-(IV). (B)-(II), (C)-(I), (D)-(III)

75. Match List I with List II

List I List II
(A) 80 GG (I) Deduction in respect of contribution
given by companies to political parties.
(B) 80 GGA (II) Deduction in respect of contribution
given by any person to political parties.
(C) 80 GGB (III) Deduction in respect of scientific
research.
(D) 80 GGC (IV) Deduction in respect of rent paid.
Choose the correct answer from the options given below:
(a) (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
(b) (A)-(III), (B)-(IV), (C)-(II). (D)-(I)
(c) (A)-(IV). (B)-(III), (C)-(II). (D)-(I)
(d) (A)-(IV). (B)-(II), (C)-(I), (D)-(III)

76. Arrange the following legal enactments in India in the chronological sequence from the
first to the last.
(A) The Mines Act
(B) The Minimum Wages Act
(C) The Payment of Gratuity Act
(D) The Child Labour (Prohibition and Regulation) Act
(E) The Apprentices Act
Choose the correct answer from the options given below :
(a) (B), (D), (C), (A), (E)
(b) (B). (A), (E), (C), (D)
(c) (A). (E), (B). (C), (D)
(d) (E), (B), (A), (C), (D)

77. Arrange in the sequence of decisions in manufacturing enterprises:

(A) Making of forecasts
(B) Determination of key factors
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(C) Consideration of alternative combination of forecasts
(D) Preparation of budgets
(E) Combination of factors
Choose the correct answer from the options given below:
(a) (A), (B), (C), (E). (D)
(b) (C), (A), (E), (B), (D)
(c) (B). (A), (C), (E). (D)
(d) (A), (C), (B). (E), (D)

78. Arrange the following products in the increasing order of price elasticities
(A) Homogeneous products
(B) Differentiated products
(C) Necessities
(D) Durable goods
Choose the correct answer from the options given below:
(a) (C), (B), (D) and (A)
(b) (A), (B), (C) and (D)
(c) (A), (C), (B) and (D)
(d) (C), (A), (B) and (D)

79. Arrange the following financing choices in order of preference suggested by the pecking
order theory
(A) Reinvestment of earnings
(B) New issue of equity
(C) Issue of debt
Choose the correct answer from the options given below:
(a) (A), (B), (C)
(b) (A), (C), (B)
(c) (B), (C), (A)
(d) (B), (A), (C)

80. Arrange the following stages of research in a proper sequence

(A) Report Writing
(B) Budgeting
(C) Data Collection
(D) Field Work
(E) Research outcomes
Choose the correct answer from the options given below:
(a) (B). (D), (C), (E), (A)
(b) (D), (A), (B), (C), (E)
(c) (D). (C), (B), (E), (A)
(d) (B). (E), (D). (C), (A)

81. Arrange the following steps of creating a market-competitive pay plan in a sequence from
the first to the last
(A) Choose benchmark jobs and select compensable factors
(B) Define each compensable factor and determine its degree in each job
(C) Establish rate changes
(D) Develop pay grades
(E) Compare and adjust current and market wage rates for jobs
Choose the correct answer from the options given below:
(a) (B). (A), (E), (D), (C)

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(b) (A), (C), (B), (D), (E)
(c) (A), (B), (E), (D), (C)
(d) (A), (B). (C), (E). (D)

82. Arrange the following initiatives taken by the Governmennt of India to tackle the Non
performing assets in their ascending order of chronology:
(A) Corporate Debt Restructuring
(B) Compromise Settlement
(C) The Debt Recovery Tribunals (DRTs)
(D) Credit Information Bureau
(E) SARFAESI Act
Choose the correct answer from the options given below:
(a) (C), (D), (A), (B), (E)
(b) (A), (B), (E), (C), (D)
(c) (C), (D), (B), (E), (A)
(d) (D). (C). (B). (E). (A)

83. Arrange the following steps of marketing process in proper sequence

(A) Construct an integrated marketing programme that delivers superior value
(B) Capture value from customers to create profits and customer equity
(C) Understand the market place and customer needs and wants
(D) Engage customers, build profitable relationships, and create customer delight
(E) Design a customer value-driven marketing strategy
Choose the correct answer from the options given below:
(a) (C), (A), (E), (D), (B)
(b) (B). (E), (A), (C), (D)
(c) (D), (A), (B). (C), (E)
(d) (C), (E). (A), (D), (B)

84. Which one is the correct sequence implied in the Indian Contract Act 1872?
(A) Offer of proposal
(B) Contract
(C) Promise
(D) Agreement
(E) Acceptance
Choose the correct answer from the options given below :
(a) (C). (E), (A), (D), (B)
(b) (D). (B), (C), (A), (E)
(c) (B), (D), (C), (E), (A)
(d) (A), (E), (C), (D), (B)

85. Arrange the following procedure of Income Tax return e-Filling in India
(A) Login
(B) Register
(C) Verification
(D) Downloading utility and preparing return
(E) e-filing Income Tax Return
Choose the correct answer from the options given below :
(a) (A), (B), (C), (D). (E)
(b) (A). (C), (B). (E). (D)
(c) (B). (A), (E), (D). (C)
(d) (B), (A), (D), (E), (C)

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86. Given below are two statements.

Statement (I): Monetary policy causes a deliberate change in government revenue and
expenditure with a view to influencing the price level and the quantum of national output.
Statement (II) Fiscal Policy regulates the money supply and the cost and availability of
credit.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both Statement (I) and Statement (II) are correct
(b) Both Statement (I) and Statement (II) are incorrect
(c) Statement (I) is correct but Statement (II) is incorrect
(d) Statement (I) is incorrect but Statement (II) is correct

87. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R).
Assertion (A): Firms opt for buying an asset if the equivalent annual cost of ownership and
operation is less than the best lease rate it can get.
Reason (R): Operating leases are attractive to equipment users if the lease payment is less
than the user's equivalent annual cost of buying the equipment.
In the light of the above statements, choose the most appropriate answer from the options
given below:
(a) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(b) Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
(c) (A) is correct but (R) is not correct
(d) (A) is not correct but (R) is correct

88. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R).
Assertion (A): According to Herzberg, preventing or reducing dissatisfaction at work is not
the same as providing satisfaction.
Reason (R): Under the two factor theory', job satisfaction and dissatisfaction are the two
different aspects of work motivation.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A)
(b) Both (A) and (R) are true but (R) is NOT the correct explanation of (A)
(c) (A) is true but (R) is false
(d) (A) is false but (R) is true

89. Given below are two statements: One is labelled as Assertion (A) and the other is labelled
as Reason (R).
Assertion (A): Trade mark registration gives exclusive proprietary rights to the trademark
owner.
Reason (R): A trademark is a recognizable sign, design or expression which identifies
products or services of a particular source from those of others, and are used to claim
exclusive proprietary rights of products or services.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A)
(b) Both (A) and (R) are true but (R) is NOT the correct explanation of (A)
(c) (A) is true but (R) is false
(d) (A) is false but (R) is true

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90. Given below are two statements.

Statement (I): Gratuity received by Government employee is exempted from tax under
Section 10(10)(i) of the Indian Income Tax Act, 1961.
Statement (II): Gratuity received by local authority employee is exempted from tax.
In the light of the above statements, choose the correct answer from the options given
below :
(a) Both Statement (I) and Statement (II) are true
(b) Both Statement (I) and Statement (II) are false
(c) Statement (I) is correct but Statement (II) is false
(d) Statement (I) is incorrect but Statement (II) is true

Answer Question No. 91 to 95 on the basis of the following passage:

Burnout is a psychological syndrome emerging as a prolonged response to chronic
interpersonal stressors on the job. The three key dimensions of this response are an
overwhelming exhaustion, feelings of cynicism and detachment from the job, and a sense
of ineffectiveness and lack of accomplishment. The significance of this three-dimensional
model is that it clearly places the individual stress experience within a social context and
involves the person's conception of both self and others.
The exhaustion dimension was also described as wearing out, loss of energy, depletion,
debilitation, and fatigue. The cynicism dimension was originally called depersonalization
(given the nature of human services occupations), but was also described as negative or
inappropriate attitudes towards clients, irritability, loss of idealism, and withdrawal. The
inefficacy dimension was originally called reduced personal accomplishment, and was also
described as reduced productivity or capability, low morale, and an inability to cope.
There have been various conceptual models about the development of burnout and its
subsequent impact. At first, the focus was on the relationship between the three
dimensions of burnout, which was often described in sequential stages. Exhaustion was
assumed to develop first, in response to high demands and overload, and then this would
precipitate detachment and negative reactions to people and the job (depersonalization or
cynicism). If this continued, then the next stage would be feelings of inadequacy and
failure (reduced personal accomplishment or professional inefficacy).
More recently, burnout models have been based on theories about job stress, and the
notion of imbalances leading to strain. Its three stages are: (a) Job stressors, (b) individual
strain, and (c) defensive coping. Subsequently, two developmental models of the demands-
resources imbalance have emerged: the Job Demands-Resources (JD-R) model and the
conservation of Resources (COR) model. The JD-R model focuses on the notion that
burnout arises when individuals experience incessant job demands and have inadequate
resources available to address and to reduce those demands. The COR model follows a
basic motivational theory assuming that burnout arises as a result of persistent threats to
available resources. A different variation of an imbalance model of burnout is the Areas of
Worklife (AW) model, which frames job stressors in terms of person-job imbalances, or
mismatches, but identifies six key areas in which these imbalances take place workload,
control, reward, community, fairness and values. Mismatches in these areas affect an
individual's level of experienced burnout, which in turn determines various outcomes,
such as job performance, social behaviors, and personal wellbeing.

91. Which of the following has the correct sequence of the stages of burnout?
(A) Fatigue due to excessive work, dislike for work, failure to achieve targets
(B) Negative feelings about work, dislike for work, effort to quit work
(C) Initial good interpersonal relations, depersonalization, loss of idealism
(D) Cynicism, inadequacy, inefficiency

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92. Given below are two statements.

Statement (I): Cynicism stage of Burnout is often experienced by employees, engaged in
production activity, due to excessive work pressure.
Statement (II) In Cynicism stage of burnout, person withdraws from others and shows
lack of interest towards them.
In the light of the above statements, choose the correct answer from the options given
below:
(a) Both Statement (I) and Statement (II) are true
(b) Both Statement (I) and Statement (II) are false
(c) Statement (I) is correct but Statement (II) is false
(d) Statement (I) is incorrect but Statement (II) is true

93. Match List I with List II

List I List II
(A) Exhaustion (I) Not able to complete work
(B) Cynicism (II) No energy for work
(C) Inefficiency (III) No interest in customer
Choose the correct answer from the options given below:
(a) (A)-(I). (B)-(II). (C)-(III)
(b) (A)-(III), (B)-(II), (C)-(I)
(c) (A)-(II), (B)-(III), (C)-(I)
(d) (A)-(II), (B)-(I). (C)-(III)

94. Which of the following is not a resource-imbalance model of Burnout?

(a) Job Demands-Resources Model
(b) Conservation of Resources Model
(c) Three Dimensional Model
(d) Areas of Worklife Model

95. Which of the following are caused by Burnout?

(A) Concern for clients
(B) Negative Social Behaviour
(C) Physical and Mental Strain
Choose the most appropriate answer from the options given below :
(a) (A) only
(b) (A) and (B) only
(c) (B) and (C) only
(d) (A) and (C) only

Answer Question No. 96 to 100 on the basis of the following passage:

It is desirable for consumers to be aware of their rights, and to exercise those rights
responsibly and intelligently. In these days of audio-video publicity on the public and
private media, it is indeed very difficult, if not impossible, to verify the exaggerated or false
claims made by producers, manufacturers, distributors and dealers of various goods and
services. The all-pervasive, exaggerated and often false claims, made for services and
goods, emphasize the imperative need for Consumer Protection Legislation and creation of
awareness about it among the general public.
In this connection, there are a number of enactments, in India such as the prevention of
Food Adulteration Act, 1954, the Essential Commodities Act, 1955, the Hire Purchases
Act, 1972, the Standards Weight and Measure Act, 1976 etc. However, the remedies
prescribed there under are time-consuming, inadequate and expensive. As in other areas

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of Judicial Processes, the offenders are hardly caught, proceeded against and rarely, if
ever, got convicted. When violators go scot-free, the victims have no remedy and gets
frustated.
Sub questions

96. Which among the following is a correct statement based on the passage?
(a) Consumers' laws are not explained well in India
(b) Indian Judiciary System needs a drastic reform to facilitate consumers' welfare
(c) Indian manufacturers are clever
(d) The Indian Consumers have no remedy and get frustated

97. Which among the following is a correct statement based on the passage?
(a) Consumers in India are aware of their rights
(b) Consumers in India exercise their rights responsibly
(c) Consumers in India are unaware of their rights and hence, they do not exercise them
(d) None of the above could be ascertained on the basis of paragraph given here above

98. Which among the following is a correct statement based on the passage?
(a) The Government of India has enacted sufficient number of laws for protection of
consumer interests
(b) The paragraph does not give comprehensive list of laws in favour of consumers
(c) Legal environment for consumers in India is not conducive
(d) Legal environment for consumers in India is conducive

99. Who among the followings could be considered at the center point in the passage?
(a) Consumers
(b) Manufacturers
(d) Judicial Process Government

100. Which among the following is a correct statement based on the passage?
(a) Producers and manufacturers are sensitive about consumers' rights.
(b) Producers and manufacturers are insensitive about consumers' rights.
(c) Producers and manufacturers are neutral about consumers' rights.
(d) Producers and manufacturers are basically governed by ethics and values.

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

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COMMERCE 2020 PAPER 2 SHIFT-2 17-10-2020

1. Meaning of unpaid seller is
(a) The person who has not paid the price
(b) The person who has sold the goods and received the price
(c) The person who has sold the goods and has not yet received the price
(d) The person who has not sold the goods

2. Swachh Bharat Abhiyan is an example of

(a) Sustainable marketing
(b) Social marketing
(c) Services marketing
(d) Relationship marketing

3. Which type of studies would be most appropriate to use in order to measure changed
opinions of consumers repeatedly?
(a) Focus group studies
(b) Shadowing studies
(c) Longitudinal studies
(d) Experimental studies

4. Which type of retailers involve in comparatively low prices as a major selling point
combined with the reduced costs of doing business?
(a) Convenience stores
(b) Discount retailers
(c) Limited line retailers
(d) Category killer stores

5. Tele - Marketing is a part of

(a) Viral marketing
(b) Social marketing
(c) Direct marketing
(d) Relationship marketing

6. After concept testing, a firm would engage in which of the following stage in developing
and marketing a new product?
(a) Test marketing
(b) Marketing strategy development
(c) Business analysis
(d) Product development

7. A marketer needs to be aware of the criteria by which the effectiveness of their

segmentation procedures can be assessed. Which of the following is NOT a criterion for
evaluating the resulting market segments?
(a) Perishability
(b) Size of the resulting segment
(c) Measurability
(d) Accessibility

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8. "Skimming" in e-banking refers to
(a) Identifying fraudsters copying vital information from credit cards
(b) Multiple transactions by one credit card
(c) Conversion of a debit card into credit card
(d) Excessive charge for online services

9. Belated return u/s 139(4) can be filled at any time

(a) Before the expiry of relevant assessment year
(b) Before the expiry of one year from relevant assessment year
(c) Before the expiry of relevant assessment year or before the assessment is complete,
whichever is earlier
(d) Before the expiry of one year from the end of the relevant assessment year or before the
assessment year, whichever is earlier

10. Tax audit is compulsory in case of a person is carring on business whose gross turnover
exceeds
(a) Rs.60 Lakhs
(b) Rs.1 Crore
(c) Rs.40 Lakhs
(d) Rs.2 Crore

11. Mr.X is entitled to transport allowance of Rs.1,800 p.m. for commuting from his residence
to office and back and he spends Rs.1,400 p.m. The exemption shall be allowed of
(a) Rs.1,800 p.m.
(b) Rs.1,400 p.m.
(c) Rs.1,600 p.m.
(d) Nil

12. Bliefs, attitudes, traditions and expectations which are shared by group members is called
(a) Group norms
(b) Group communication
(c) Group cohesiveness
(d) Group structure

13. Which of the following method of training is NOT a part of the off- the job training
method?
(a) Sensitivity training
(b) Transitional analysis
(c) Apprenticeship
(d) Conference method

14. In a moderately skewed distribution, which of following equation indicates the

relationship among mean, median and mode?
(a) Mean = 2 Mode - 3 Median
(b) Mode = 3 Median -2 Mean
(c) Median = 3 Mean - 2 Mode
(d) Mode = 3 Mean- 2 Median

15. If on an average, 2 customers arrive at shopping mall per minute, what is the probability
that in a given minute, exactly 3 customers will arrive? (e2 = 0.1353)
(a) 0.1804
(b) 0.3532

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(c) 0.2352
(d) 0.1404

16. Goodness of fit of a distribution is tested by

(a) t test
(b) F - test
(c) Chi-square test
(d) Z test

17. In a survevy people are choosed from class friends or neighbours for the purpose of
knowing their preference for a certain brand of soft drink, is an example of
(a) Convenience sampling
(b) Judgement sampling
(c) Cluster sampling
(d) Startified sampling

18. The following information is available for Ravi corporation

EPS - Rs 4
ROI - 18%
Rate of return required by shareholders - 15%
What will the price per share as per Walter model if the payout ratio is 40%?
(a) Rs. 29.87
(b) Rs. 29.33
(c) Rs. 28.80
(d) Rs. 30.63

19. Suppose that a firm has 20% debts and 80% equity in its capital structure. The cost of
debts and cost of equity are assumed to be 10% and 15% respectively, What is the overall
cost of capital?
1.11%
(b) 12%
(c) 13%
(d) 14%

20. A Ltd. has a share capital of 5,000 equity shares of Rs.100 each having a market value of
Rs. 150 per share. The company wants to raise additional funds of Rs. 1,20,000 and
offers to the existing shareholders the right to apply for a new share at Rs.120 for every
five share held. What would be the value of right?
(a) Rs.5
(b) Rs.6
(c) Rs.6.5
(d) Rs 5.5

21. Which one of the following is the most pervasive and sustaining objectives of financial
decision making?
(a) Profit maximization
(b) Earnings maximization
(c) Value maximization
(d) Cost minimization

22. Political risk management comes in the ambit of which of the following financial
decisions?

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(a) Non conventional capital budgeting
(b) International currency arbitrage
(c) Foreign exchange market
(d) Multinational capital budgeting

23. A company purchased a machinery on 01-01-2015 for a sum of Rs.60,000. The retail
price index on that date was 150. What is the value of machinery according to CPP
method on 31st December 2015, When the price index was 200.
(a) Rs. 1,00,000
(b) Rs. 90,000
(c) Rs. 80,000
(d) Rs. 70,000

24. X and Y are partners in a business sharing profit and losses in the ratio of 3:(b) They
admit Z as a new partner with 1/5 share in the profits. Calculate the new profit sharing
ratio of the partners.
(a) 12:8:5
(b) 12:8:6
(c) 12:7:6
(d) 12:3:7

25. If Activity Ratio of a firm is 80% and capacity ratio is 120%, find out its efficiency ratio.
(a) 150%
(b) 100%
(c) 80%
(d) 66.67%

26. When current ratio is 2:1 and if equal increase in current assets and current liabilities
would result in
(a) No change in current ratio
(b) Increase in current ratio
(c) Decrease in current ratio
(d) Current ratio will double

27. Which one of the following is a correct equation?

(a) Opening capital = Closing capital + Additional capital - Drawings – Profit
(b) Opening capital = Closing capital + Drawings - Additional capital - Losses
(c) Opening capital = Closing capital + Drawings - Additional capital - Profit
(d) Opening capital = Closing capital - Drawings - Additional capital - Profit

28. In penetration pricing a business firm seeks to access deeper market penetration by
keeping prices
(a) Higher
(b) Competitive
(c) Low
(d) Flexible

29. Sub - optimal allocation of resources under monopoly to cause social welfare loss is
often inferred as
(a) Deadweight loss
(b) Allocation drift
(c) Monopoly loss
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(d) Opportunity loss

30. Which of the following is the first order conditions to profit maximisation?
(a) TR - TC
(b) MR = MC
(c) MR cuts MC from below
(d) Slope of MC curve must be higher than that of MR curve

31. A price ceiling below the equilibrium price often leads to

(a) Commodity glut
(b) Tax burdon on consumer
(c) Shortage of the commodity and black marketing
(d) Export of commodity

32. For a decline in price, Total Revenue (TR) increases if demand is

(a) Elastic
(b) Inelastic
(c) Unitary elastic
(d) Zero elastic

33. When consumers seeks to be different and exclusive by demanding less of a commodity
as more people consumes it. This phenomenon is known as
(a) Bandwagen effect
(b) Snob effect
(c) Substitution effect
(d) Price effect

34. Which of the following policy has lost its sheen consequent to implementation of the GST
Laws in India?
(a) Monetary policy
(b) Fiscal policy
(c) Trade policy
(d) Exim policy

35. Reverse Repo Rate is a tool used by the Reserve Bank of India primarily to
(a) Inject liquidity
(b) Absorb liquidity
(c) Protect bank credit
(d) Build reserve

36. A multinational firm is the one which

(a) Source supplies from multiple countries
(b) Exports production to multiple countries
(c) Control and operates production facilities in multiple countries
(d) Has consular access in multiple countries

37. Grouping of countries commited to remove all barriers to the free flow of goods and
services between themselves and also pursue independent external trade policies is called
(a) Free trade area
(b) Custom union
(c) Common market
(d) Economic union

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38. Intellectual Property Rights (IPRs) protect the use of information and ideas that are of
(a) Social value
(b) Moral value
(c) Commercial value
(d) Ethical value

39. Uppasala model for internationalisation of business operations is not valid for
(a) Manufacturing organisations
(b) Services organisations
(c) Agribusiness enterprises
(d) Trading enterprises

40. Who coined the metaphor "Invisible hand" in the Theory of Moral Sentiments?
(a) Milton Friedman
(b) David Ricardo
(c) Michael Porter
(d) Adam Smith

41. The defenders of the sustainability approach toward Corporate Social Responsibility (CSR)
point out that
A. All economic activity exists within a biosphere that support all life
B. The success of business must be judged only against profitability
C. People have a strong ethical duty to cause no harm and only a prime facie duty to
prevent harm
D. Business sole responsiblity is to fulfil the economic functions they were designed to
serve
E. Customer service is most important
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B,C,D only
(c) A and C only
(d) A only

42. Objective of energy management and audit invariably includes which of the following in
a business enterprises?
A. Minimising cost of energy consumption
B. Minimising waste in energy consumption
C. Scaling harmful impacts of pollution on health of the natives
D. Minimising environmental degradation
Choose the most appropriate answer from the options given below:
(a) A,B and C only
(b) B,C and D only
(c) A, B and D only
(d) A, B, C and D only

43. Which of the following aptly aims to alleviate financial stress of the borrowers at bottom
of the pyramid by reducing their cost of credit in new of covid - 19 pandemic?
A. A generic loan moratorium to the borrowers
B. Two percent interest subvention on Sishu loans under the Pradhan Mantri Mudra
Yojana

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C. Provisioning Rs.1,500 Crore for Animal Husbandry Infrastructure Fund (AHIDF) to help
investment in diaring, meat processing and animal feed plants.
D. Financiall incentives to Farmer Producer Organisations (FPOs) and Micro, Small and
Medium Enterprises (MSMEs)
Choose the most appropriate answer from the options given below:
(a) A, B and C only
(b) A, B and D only
(c) B and C only
(d) D only

44. Organizational socialization is one very important aspect of orientation, the introduction
of new employee to the enterprise. Which of the following is/are not designed for the
socialization of new managers?
A. Acquisition of work skills and ability
B. Adoption of appropriate role behaviour
C. Adjustment to the norm and values of the work group
D. Filling a vacant position
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) C and D only
(d) D only

45. Which of the following are true of the Goods and Services Tax (GST) introduced in India in
recent times?
A. It is a destination tax
B. It benefits producing states more
C. It benefits consuming states more
D. It is a progressive taxation
E. It is an umbrella tax to improve ease of doing business
Choose the most appropriate answer from the options given below:
(a) B,D and E only
(b) A, C and D only
(c) A,D and E only
(d) A,C and E only

46. Which of the following truly describe govt. intervention in the MSME space in view of
Covid-19 pandemic?
A. Provisioning of collateral free automatic loans worth Rs. 3 lakh crores
B. Provision of 100% credit guarantee coverage to banks and NBFCs on principal and
interest for loans to NBFCs
C. Redefined MSMEs to include both investment and turnover criteria
D. Created a war chest of Rs.3,00,000 crores for the MSME loans and employment
protection
E. Allocated Rs.3,00,000 crores for MSME loan moratorium and waiver
Choose the correct answer from the options given below:
(a) A,B and C
(b) B,C and D
(c) C,D and E
(d) A, C and D

47. The consumer's price sensitivity is/are influenced by

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A. Who bears the cost
B. What percentage of total expenditure does the product represent
C. Who bears the cost and type of retailer from where customer purchases
D. Consumption of product by the customer
E. Knowledge about the product
Choose the most appropriate answer from the options given below:
(a) A, B, E only
(b) B and D only
(c) A,B,D only
(d) A, B, D, E only

48. Which of these are readily accepted distinguishing characteristics of the services that
create unique strategic challenges?
A. Inflexibility
B. Perishibility
C. Inseparability
D. Intangibility
E. Inscrutability
Choose the most appropriate answer from the options given below:
(a) B,C,D only
(b) A,B,C,D only
(c) C,D,E only
(d) B and D only

49. Suppose a customer who purchases only two goods is making a utility maximizing
choice and then the price of one of the goods decreases. What will happen?
A. The consumer's purchasing power will increase
B. The consumer's total utility will increase
C. The consumer's money income will increase
Choose the most appropriate answer from the options given below:
(a) A and C only
(b) A and B only
(c) B and C only
(d) A, B and C only

50. Which of the following could be problems with consumer interviews?

A. A non-random sample
B. The identification problem
C. Response bias
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) A and C only
(d) B only

51. Process Costing is appropriate for which of the following firms?

A. Logistic and Transportation firms
B. Pharmaceutical and healthcare firms
C. Tourism and hospitality firms
D. Oil refining firms
Choose the correct answer from the options given below:
(a) A and C

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(b) B and C
(c) A,B and C
(d) D only

52. In order to calculate capital adequacy ratio, the banks are required to take into
consideration, which of the following risks?
A. Credit risk
B. Market risk
C. Operational risk
Choose the most appropriate answer from the options given below:
(a) A and C only
(b) A and B only
(c) B and C only
(d) A, B and C only

53. Identify on which of the three mutually reinforcing pillars Basel-III capital regulations are
based?
A. Minimum capital standards
B. Supervisory review of capital adequacy
C. Credit risk management
D. Market decipline
E. Management control
Choose the most appropriate answer from the options given below:
(a) A, B and C only
(b) A, B and D only
(c) C, D and E only
(d) A, C and D only

54. Which of the following are sufficient to determine shutdown point of multi commodity firm
in the short - run?
A. Variable cost of operations
B. Marginal revenue received
C. Average variable cost of operations
D. Average marginal revenue received
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) C and D only
(c) A, B and C only
(d) B, C and D only

55. Survey instruments used to assess customer perception of service quality are called
A. CETSCALE
B. SERVQUAL
C. SERVPREF
D. DINESERV
E. RSQS
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) A, B, C and D only
(d) B, C, D and E only

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56. Channel conflicts can be
A. Vertical
B. Horizontal
C. Diagonal
D. Circular
E. Triangular
Choose the most appropriate answer from the options given below:
(a) A and C only
(b) B and C only
(c) A and B only
(d) A, B and C only

57. Which of the following retail analytic applications involve(s) the use of search techniques
to gain insights into customer's buying pattern?
A. Factor analysis
B. Regression analysis
C. Data mining
D. Data scrapping
E. Data cloning
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) A, C and D only
(d) C only

58. Which of the following narratives describe Fisher (Irving) effect?

A. Nominal, interest rate is equal to a real interest rate plus an expected interest rate B.
Real interest rate is equal to nominal interest rate minus expected rate of inflation C.
Exchange rate differential between two currencies is explained by interest - inflation rate
differential
D. Exchange rate differential between two currencies is explained by comparative cost
advantage and purchasing power parity
Choose the most appropriate answer from the options given below:
(a) A, B and C only
(b) A and B only
(c) C and D only
(d) B, C and D only

59. Which of the following include problems in forecasting?

A. estimates becoming more reliable the further you forecast into the future
B. specification error
C. cyclical variation
D. stationarity in data series
E. consistency in data series
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B,C and D only
(c) B and C only
(d) A and C only

60. Which one of the following is/are hold(s) true to successfully practice price discrimination
?

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A. The firm must be a pure monopoly
B. The firm must possess market power
C. It must be difficult for consumers in one market to sell to consumers in the other
market
Choose the most appropriate answer from the options given below:
(a) A and B only
(b) B and C only
(c) A and C only
(d) C only

61. In a monopolistically competitive market, which of the following hold true?

A. firms are small relative to the total market
B. no firm has any market power
C. there is easy entry and exit in the market
D. few firms have market power
E. there is no easy entry and exit in the market
Choose the most appropriate answer from the options given below:
(a) A, C and E only
(b) B and C only
(c) A and B only
(d) A and Conly

62. Span of management is determined by

(i) manager's training
(ii) manager's personal qualities
(iii) subordinates training
(iv) trade union
(a) (ii), (iii) and (iv)
(b) (i), (ii) and (iii)
(c) (i), (iii) and (iv)
(d) (i), (ii) and (iv)

63. The shut down refers to complete cessation or closing down of the business. It involves
which of the following?
(i) No buying or selling
(ii) No manufacturing
(iii) Shifting of business from one place to another place
(iv) Assets to be sold or disposed off.
(v) Returning capital to owners
(a) (i), (ii), (iv), (v)
(b) (i), (ii), (iii), (iv)
(c) (i), (ii), (iii), (v)
(d) (i), (iii), (iv), (v)

64. Which of the following are false?

A. Partners are not bound to carry on the business of the firm to the greatest common
advantage
B. Where a partner is entitled to interest on capital subscribed by him, such interest shall
be payable whether or not there are profits
C. An outgoing partner has a right to claim a share in the profits of the firm till his
account is finally settled
D. A partner may be expelled from the firm only with the consent of all other partners

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Choose the correct answer from the options given below:
(a) A, B, D only
(b) A, C, D only
(c) B, D, C only
(d) C, D only

65. Which of the following are related to vouching of sales?

A. Dispatch of goods
B. Sales Book
C. Direct notes
D. Credit notes
Choose the correct answer from the options given below:
(a) B and D only
(b) A and D only
(c) B and A only
(d) B and C only

66. Match the items of List I with those of List II and choose the correct code of combination
List I List II
a. Ad-hoc team formed to solve unusal (i) Virtual organization
problem
b. Suitable when there are large number of (ii). Task force
small projects
c. Status free and hierarchy free (iii). Free form organization
organization
d. Digital or dot com organization (iv). Matrix organization
(a) (iii) b - (i), c- (iv), d - (ii)
(b) a -(i), b-(ii), c-(iv), d-(iii)
(c) a- (ii), b - (iv), c- (iii) d-(i)
(d) a -(iv), b-(i), c-(ii), d-(iii)

67. Match the items of Units (1) with those of Units (II) and choose the correct code of
combination:
List I List II
(a) P(H/E) = P (HE) (i) Theorem of addition P(E)
(b) P(E2/E1) = P (E1E2) P(E1) (ii) Theorem of multiplication
(c) P(E1 E2) = P(E1) x P(E2) (iii) Conditional probability
(d) P(E1 E2) = P(E1) + P(E2) (iv) Baye's theorem
कू ट:
(a) A-I, B-IV, C-II, D-III
(b) A-IV, B-III, C-II, D-I
(c) A-III, B-IV, C-II, D-I
(d) A-IV, B-III, C-I, D-II

68. Match the items of List I with those of List II and choose the correct code from the
following combination
List I List II
a. Inability to pay interest i). Current Ratio
b. Liquidity crisis ii). Debtor Turnover Ratio
c. Inefficient collection of receivable iii). Interest coverage ratio
d. Return of shareholder's fund being much iv). Debts - Equity return on investment

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higher than the overall ratio
(a) a -(iii), b-(i), c-(ii), d-(iv)
(b) a -(iii), b-(ii), c-(i), d-(iv)
(c) a -(ii), b-(iii), c-(i), d-(iv)
(d) a -(i), b-(ii), c-(iii), d -(iv)

69. Match List I with List II

List I (Market Forms) List II (Distinctive featured)
A. Perfect competition i. Price rigidity
B. Monopoly ii. Product improvements
C. Monopolistic competition iii. Homogeneous products
D. Oligopoly iv. Price discrimination
Choose the correct answer from the options given below:
(a) A-ii, B-i, C-iv D - iii
(b) A-iv, Biii, C- i, D-i
(c) A -iii, Biv, C-ii, D-i
(d) A-i, B, C -ii iii, D-iv

70. Match the cost concepts in List I and their description in List II
List I (Cost concepts) List II (Description)
A. Sunk cost i. Change in total cost for a unit change in output
B. Marginal cost II. Value of inputs owned and used in production
C. Investment cost III. Costs that are unaffected by firm decision
D. Implicit cost IV. Total increase in costs resulting from a decision
Choose the correct answer from the options given below:
(a) A-II, B-I, C-IV, D-III
(b) A-1, B-III, C-IV, D-II
(c) A-IV, B- II, C-III, D-I
(d) A-1, B-II, C-III, D-IV

71. Match the items in List I with economists propounded the same from List II
List I (Theoretical Foundations of Global List II (Economists)
Trade)
A. Absolute cost advantage I. Michael Porter
B. Factor endowment theory II. David Ricardo
C. National competitive advantage III. Hecksher and Ohlin
D. Comparative cost advantage IV. Adam smith
Identify correct match from the following:
(a) A-IV, B- III, C-I, D-II
(b) A-III, B-II, C-I, D-IV
(c) A-1, B-IV, C-III, D-II
(d) A-III, B-IV, C-II, D-I

72. Match the items of List I with the items of List II and choose the correct code of
combination:
List I List II
A. Indian Contract Act I. 2002
B. Right to Information Act II. 1872
C. Information Technology Act III. 2005
D. Competition Act IV. 2000
(a) A-I, B-II, C-III, D-IV

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(b) A-II, BIV, C-I, D-III
(c) A-III, B-IV, C-II, DI
(d) A-II, B-III, C- IV, D-I

73. Match the item of List I with the items of List II and suggest the correct code:
List I List II
A. Relationship Banking I. Dealing in hundis and acceptance of deposits
B. Merchant Banking II. Widening the entrepreurial base and assist in a rapid rate of
industrial growth
C. Indigenous Banking III. Engaged in the business of capital issue management
D. Development Banking IV. Creating, maintaining and enhancing strong relationship
with customers
(a) A-IV, B-II, C-I, D-III
(b) A-II, B-III, C-I, D-IV
(c) A-IV, B-III, C-I, D-II
(d) A-II, B-I, C-IV, D-III

74. Match the items of List I with those of List II and choose the correct code of combination:
List I List II
A. 80 GGC I. Deduction in respect of rent paid
B. 80 GG II. Deduction in respect of contribution given by company to political
parties
C. 80 GGA III. Deduction in respect of contribution given by any person to
political parties
D. 80 GGB IV. Deduction in respect of certain donations for scientific research
(a) A-III, B-I, C-II, D-IV
(b) A-III, B-II, C-IV, D-I
(c) A-III, B-I, C-IV, D-II
(d) A-I, B-II, C-III, D-IV

75. Match List I with List II

List I (International product lifecycle List II (International competition)
stage)
A. Introduction I. Companies from other high-income countries
increase exports to the innovating country
B. Growth II. Competitors from other high-income countries
may begin production in developing countries
C. Maturity III. A few competitors at home
D. Decline IV. Competitors in other high-income countries
begin production for their domestic markets
Choose the correct answer from the options given below:
(a) A III, BIV, C-I, D-II
(b) A-III, BI, C-IV, D-II
(c) A-II, BIV, C-I, D-III
(d) A IV, BII, C-I, D - III

76. What is the correct sequence of distribution of amount realised under section 154 of
CGST rules?
a. Appropriated against the administrative cost of the recovery process.
b. Appropriated against any other amount due from defaulter under the Act or IGST Act,
2017.
C. Appropriated against the amount due to be recovered from defaulter.
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d. Balance amount, if any shall be refunded to the defaulter
(a) A, B, D, C
(b) A, C, B, D
(c) C, A, B, D
(d) C, B, A, D

77. Arrange the following in correct sequence:

A. Income under the different heads of Income.
B. Deduction from gross total income.
C. Adjustment of losses of the current year and earlier years.
D. Rounding off.
Choose the correct answer from the options given below
(a) (A), (C), (B), (D),
(b) (A), (B), (C), (D)
(c) (A), (B), (D), (C)
(d) (A), (D), (B), (C)

78. Which of the following industry verticals received boost amid covid-19 pandemic
lockdowns?
A. Online education, gaming and entertainment
B. E-Commerce and E-Payment infrastructure
C. Retailing and pharmaceuticals
D. Hospitality and healthcare services
E. Manufacturing and MSMEs
Choose the most appropriate answer from the options given below:
(a) A, B and D only
(b) A, C and E only
(c) A, B and C only
(d) C, D and E only

79. Arrange the following management functions in a logical sequence of getting things done.
A. Planning
B. Staffing
C. Organizing
D. Coordinating
E. Controlling
F. Directing
Choose the correct answer from the options given below:
(a) A, B, C, D, F and E
(b) A, C, B, F, D and E
(c) A, C, B, D, F and E
(d) A, C, B, D, E and F

80. Sequence the following CSR eligibility criteria and spending as per the provisions of the
Indian Companies Act 2013.
A. Positive networth of Rs.500 crores or more
B. Two percent of average profit spend on CSR
C. Net profit of Rs.5 crore or more in given financial year
D. Turnover of Rs.1,000 crore or more
E. Penal action for non compliance
Choose the correct answer from the options given below:
(a) E,B,D,C and A

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(b) B,E,A,C and D
(c) A,D,C,B and E
(d) C, B, A, D and E

81. Sequence the steps in CRM process?

A. Developing CRM programes
B. Collection of customer data
C. Analyzing customer data
D. Identify the target customers
E. Implementing programs
Choose the correct answer from the options given below:
(a) A, B, C, E, D
(b) B, C, D, A, E
(c) B, C, A, E, D
(d) C, D, E, A, B

82. Sequence the following activities in the process of standard costing.

A. Establishing standard costs
B. Measurement of actual costs
C. Identifying variances and causes of variance
D. Disposing the variances to cost and profit centers
E. Comparision of actual and standard costs
Choose the correct answer from the options given below:
(a) A, B, E, C and D
(b) A, B, C, D and E
(c) A, B, E, D and C
(d) A, B, D, C and E

83. Sequence the following activities in the process of accounting A. Journalising the
transaction in the ledger accounts
B. Recording the business transaction in the books of entry
C. Preparation of Annual Financial statements
D. Preparation of the Trial Balance
E. Deriving meaningful inferences for business decisions
Choose the correct answer from the options given below:
(a) A, B, C, D and E
(b) A, B, D, E and C
(c) D, C, E, B and A
(d) B, A, D, C and E

84. Sequence the following in the capital budgeting process

A. Cash flow estimation
B. Identify discounting rate
C. Project selection decision
D. Determination of NPV
Choose the correct answer from the options given below:
(a) A, B, C and D
(b) A, B, D and C
(c) D, A, B and C
(d) B, A, D and C

85. Which two of the following are correct about TDS certificates?

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(a) TDS on salary payment - Form 16
(b) TDS on non-salary payment - Form 16A
(c) TDS on rent - Form 16B
(d) TDS on sale of property - Form 16C
Choose the correct option:
(a) (a) and (b)
(b) (a) and (c)
(c) (a) and (d)
(d) (b) and (c)

86. Statement I: Contracts whose objects or consideration are unlawful are void.
Statement II: Contracts in restraint of legal proceedings are void.
Code :
(a) Both Statements are correct
(b) Both Statements are incorrect
(c) Statement | is correct but II is incorrect
(d) Statement / is incorrect but II is correct

87. Assertion A: Workers participation in management is involvement of workers only in

such areas of activities of the enterprises where they can make some positive
contribution.
Reasoning R: Workers may not be competent enough to understand and appreciate the
managerial aspects of the enterprise.
Code:
(a) Both A and R are correct but R is not the right explanation of A
(b) Both A and R are correct and R is the correct explanation of A
(c) A is correct but R is incorrect
(d) Both A and R are incorrect

88. Assertion A: Credit flows to agriculture and SME sector have increased in recent years.
Reasoning R: Reserve Bank of India has gradually relaxed various controls in credit
market.
Code:
(a) A and R both are correct and R is the right explanation of A
(b) A and R both are correct but R is NOT the right explanation of A
(c) A is correct but R is incorrect
(d) Both A and R are incorrect

89. Assertion A: TRIMs and TRIPS provisions facilitates and promotes FDI.
Reason R: TRIMs and TRIPs provisions remove restrictions and address capital flow
sensitivities.
Choose the correct response from following:
(a) Both A and R are correct and R is the right explanation of A
(b) Both A and R are correct and R is NOT the right explanation of A
(c) A is correct and R is not correct
(d) Both A and R are incorrect

90. Assertion A: Equilibrium price of a commodity is the price at which the quantity
demanded of the commodity equals the quantity supplied.
Reason R: Equilibrium, is the condition, once determined tends to persists in time.
Choose the right options:
(a) Both A and R are correct and R is the right explanation of A

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(b) Both A and R are correct and R is NOT the correct explanation of A
(c) A is correct and R is not correct
(d) Both A and R are incorrect

A mutual fund is a special type of investment institution which acts as an investment

conduit. It pools the savings of relatively small investors in a well - diversified portfolio of
sound investment. Mutual funds issue securities (known as units) to the investors (known
as unit holders) in accordance with the quantum of money invested by them. The profit
(or losses) are shared by the investors in proportion to their investments. A mutual fund is
set up in the form of a trust which has (i) a sponsor, (ii) trustee, (iii) Asset Management
Company (AMC) and (iv) custodian. The trust is established by the sponsor who is like
promoter of a company. The trustees of the mutual fund hold its property for the benefit
of unit-holders. The trustees are vested with the general power of superintendence and
direction over AMC. They monitor the performance and compliance of the SEBI
regulations by the mutual fund. The AMC manages the funds by making investment in
various types of securities. The Custodian holds the securities of the various schemes of
the mutual fund in its safe custody. As an investment intermediary, mutual funds offer a
variety of services/advantages to the relatively small investors who, on their own, cannot
successfully construct and manage an investment portfolio mainly due to the small size of
their funds, lack of expertize/experience and so on. These inter-alia, include convenience
in terms of lower denomination of investment and liquidity, lower risk through
diversification, export management and reduced transaction cost due to economies of
scale.

91. Who among the following monitors the compliance of SEBI regulations by the mutual
fund?
(a) Sponsor
(b) Trustee
(c) AMC
(d) Custodian

92. The sponsor of a mutual fund is similar to

(a) Sole proprietor of a firm
(b) Partner of a partnership firm
(c) Promoter of a company
(d) Director of a company

93. AMC manages funds by investing in

(a) Stock market securities only
(b) Credit instruments only (c) Government bonds only
(d) Various types of securities

94. Which among the following is not a part of mutual fund trust?
(a) Sponsor
(b) Custodian
(c) Depository
(d) Trustees

95. Mutual fund is

(a) Investment intermediary
(b) Venture capitalist
(c) NBFC

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(d) Non-profit organization

Question Label: Comprehension

Read the case and answer the mentioned questions
The famous Taj palace hotel and towers became the centre of one of the most deadly
terrorist attacks in the Indian Sub Continent on 26 Nov. 2018. The employee's behaviour
during the crisis saved the lives of nearly 300 guests. The condition of Taj after this was
so disastrous that it would have been profitable to leave the hotel as it was rather than
reopening it.
However, Taj made remarkable effort of recovering not just to restore its damaged
installations but also to ensure customer satisfaction as well as to uplift the spirit of all
employees and staff.
The employee at Taj is viewed as an asset and is the real profit centre. "The criterion of the
Taj people philosophy displays our commitment to and belief in our people" says Bernard
Martyris, is former senior VP,HR. In it is "Special Thanks and Recognition System"
(STARS) it aims at rewarding employees across all levels. The employee can earn points on
the recommendation of colleagues or guests. Taj People Philosophy (TPP) covered all the
aspects of and employee career planning from his joining till the death. Taj also
implemented the popular performance management system called Balance Score Card in
which employee could reviews his performance and make improvements.
Sub questions

96. Hiring the right people for organization like Taj hotel requires which of the following?
(a) Compete to get best employees
(b) Hire for competancy and inclination
(c) Be the most preferred employer
(d) Choose the most talented
Choose the correct option:
(a) (a) and (b)
(b) (b) and (c)
(c) (a), (b) and (c)
(d) (b), (c) and (d)

97. Developing the employees to provide service quality does require which of the following?
a. Training of employees
b. Continuous instruction with employee
c. Setting standard for employees
d. Recognize and reward the employees across all levels
Choose the correct option:
(a) (a) and (b)
(b) (c) and (d)
(c) Only (a)
(d) (a), (b), (c) and (d)

98. Providing neccessary support system for employees require which of the following?
a. Friendly environment
b. Providing all the equipment and system needed by employees to deliver service
C. Internal controls
d. Service oriented process
Choose the correct option:
(a) Only (a)
(b) (b) and (c)

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(c) (a), (b) and (c)
(d) (b), (c) and (d)

99. Retaining the best people by Taj did not include

(a) Making them as a part of vision
(b) Promoting them out of turn
(c) Rewarding the employees
(d) Treating employees as customers

100. Which approach did not help Taj to restore its glory?
(a) Collective bargaining
(b) Customer retention
(c) Treating employee as customer
(d) Implementation of performance management system.

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

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