UGC NET COMMERCE-1

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1. Government regulation of business is basically intended to

(A) Make sure all business units have the opportunity to be successful.

(B) Warn consumers against unfair business practices

(D) Protect the public from the negative consequences of business behaviour.

2. What is not the advantage of SEZ?

(A) Improvement of infrastructure in the hinterland.

(B) Diversion of large tracts of farm land.

(D) All of the above.

3. Which type of the complaints are not to be entertained by Consumer Forums under the Consumer Protection Act, 1986?

(A) A defective product purchased 1½ years back.

(B) Misleading advertisement in a newspaper.

(D) Tie in sales.

4. Which of the following is a WTO procedure to promote globalisation?

(A) Promotion of free trade.

(B) Reduction of budgetary subsidies.

(D) Promotion of foreign portfolio investment.

5. Match the following regarding disinvestment in India: List – I List – II (a) Disinvestment Policy by the Chandrashekhar Government I. 1999 (b) Rangarajan Committee on disinvestment in public sector enterprises II. 1996 (c) Strategic and nonstrategic classification of public enterprises for disinvestment III. 1991-92 (d) Formation of Disinvestment Commission IV. 1993 Codes: I II III IV

(A) (c) (d) (a) (b)

(B) (a) (b) (c) (d)

(D) (a) (d) (c) (b)

6. When a partnership is dissolved and the following claims need to be met out piece-meal of the cash released, which is the correct sequence in which these claims have to be met? (a) Any partner’s loan (b) Capital and Current account balances (c) Expenses of dissolution (d) Outsider’s claim (both payable and accrued) Codes:

(A) (c), (d), (a), (b)

(B) (b), (c), (a), (d)

(D) (a), (b), (c), (d)

7. In practice, accountants consider revenue from sales if a transaction meets the following condition(s):

(A) The seller has passed the legal or economic ownership of the goods to the buyer.

(B) The seller and the buyer have agreed on the price of the goods.

(D) All of the above.

8. The main difference between marginal costing and absorption costing lies in the treatment of

(A) Direct cost

(B) Fixed overhead

(D) Semi-variable overheadwww.netugc.com

9. Which of the following items is not an appropriation of profit for a limited company?

(A) Corporate tax payable

(B) Ordinary dividend payable

(D) Preference dividend payable

10. Which of the following is not applicable to responsibility accounting?

(A) Accounting Centre

(B) Cost Centre

(D) Profit Centre

11. Which one of the following is not the basic assumption of Cardinal Utility analysis?

(A) Rationality of Consumer.

(B) Utility cardinally measurable.

(D) Hypothesis of independent utilities.

12. Which one of the following is not a property of indifference curve?

(A) Negatively sloping.

(B) Convex to the point of origin.

(D) Two indifference curves do not intersect each other.

13. Find the correct matching between items of List-I and the items of List-II. List – I List – II (a) Increase in demand (i) Leftward movement along the demand curve. (b) Contraction of demand (ii) Rightward shift of the demand curve. (c) Cross demand (iii) Demand of more than one commodity to satisfy one specific want. (d) Joint demand (iv) Demand of one commodity with changes in the prices of another related commodity Codes: (i) (ii) (iii) (iv)

(A) (b) (a) (d) (c)

(B) (a) (b) (c) (d)

(D) (a) (b) (d) (c)

14. According to the Law of Variable Proportions, the second stage of production ends when

(A) Marginal productivity of the variable input becomes maximum.

(B) Both marginal productivity and average productivity of the variable input are equal.

(D) Marginal productivity of the variable input is negative but average productivity is positive.

15. Total Revenue (TR) function and the Total Cost (TC) function of a perfectly competitive market firm are as follows: TR = 480 Q – 8 Q2 TC = 400 + 8 Q2 The profit maximizing output would be:

(A) 60

(B) 15

(D) None of the above

16. From a population with mean of 220 and standard deviation of 30, a sample of 36 was drawn at random. Calculate the standard error of the sampling distribution and choose the correct answer from the following options.

(A) 7.3

(B) 6.2

(D) 5.0

17. A committee of six people is to be formed from a group of seven men and four women. What is the probability that the committee will have exactly two women?

(A) 0.456

(B) 0.803

(D) None of the above

18. From the following Anova table, calculate the ‘F’ value and select the correct answer from the options given below: ANOVA Table Sources of Variation Sum of Squares Degrees of Freedom Between columns 100 3 Between rows 24 16 Total 124 19

(A) 22.2

(B) 31.5

(D) 36.2

19. For a hypothesis test, alpha (α) is 0.05 and beta (β) is 0.10. The power of this test iswww.netugc.com

(A) 0.95

(B) 0.90

(D) 0.15

20. Which one(s) of the following statements is (are) correct with respect to Decision Support System (DSS)? (i) It (DSS) is used by middle level management. (ii) DSS applies to mostly structured problems. (iii) DSS relies on mathematical models for analysis. (iv) DSS is largely heuristics based.

(A) (i) and (ii) are correct.

(B) (i) and (iii) are correct.

(D) All the four are correct.

21. Given below are two statements, one labelled as Assertion (A), and the other labelled as Reason (R). Select the correct answer using the code given below: Assertion (A): Strategies necessarily need to be changed over time to suit environmental changes. Reason (R): To remain competitive, organisations develop those strategies that create value for customers.

(A) (A) is correct, but (R) is incorrect.

(B) Both (A) and (R) are correct.

(D) Both (A) and (R) are incorrect.

22. Which of the following is not true about proactive planning?

(A) Way of thinking about managing the future risks.

(B) Anticipating future contingencies.

(D) Getting ready with alternative routes for unforeseen situations.

23. Which of the following is not a characteristic of non-programmed decisions?

(A) Problems are unique and novel.

(B) There are no pre-established policies or procedures to rely on.

(D) These are the responsibility of top-management.

24. Which of the following is an ethical behaviour of a manager?

(A) Trading stocks on the basis of inside information.

(B) Padding expense accounts.

(D) Being severely critical of competitors.

25. Which of the following is suggested by Blake and Mouton as the best leadership behaviour?

(A) Low concern for people but high concern for production.

(B) Low concern for both people and production.

(D) High concern for people and low concern for production.

26. Which segmentation approach is the most compatible with the spirit of the marketing concept?

(A) Benefit sought

(B) Income

(D) Family size

27. Which of the stages of new product development process can be skipped?

(A) Business analysis

(B) Idea screening

(D) Test marketing

28. The price-setting method which most closely corresponds to the concept of product positioning is

(A) Cost-plus pricing

(B) Going-rate pricing

(D) Psychological pricing

29. The most important retail marketing decision a retailer has to make is to

(A) Select the product assortment.

(B) Identify its target market.

(D) Develop an effective store atmosphere.

30. Which element of the promotion mix do wholesalers primarily use?

(A) Advertising

(B) Personal selling

(D) Trade show

31. Out of the following alternative methods of project evaluation and selection used in capital budgeting, which one of the combinations in the code corresponds to discounted cash flow methods? (i) Internal Rate of Return (ii) Pay Back Period (iii) Profitability Index (iv) Net Present Value

(A) (i), (ii), (iii)

(B) (i), (iii), (iv)

(D) (i), (ii), (iii), (iv)

32. When the expected level of EBIT exceeds the indifferent point for two alternative financial plans, (Equity financing and Debt-financing), then

(A) The use of debt financing would be advantageous to increase EPS.

(B) The use of equity financing would be advantageous to maximize EPS.

(D) The use of equity financing would keep the EPS constant.

33. Which one of the following is not the assumption of the Modigliani-Miller Irrelevance Theory of Dividend Policy?

(A) No personal or corporate income taxes.

(B) Dividend policy has its effect on firm’s cost of equity.

(D) Stock floatation or transaction cost does not exist.

34. Match the items of List-I with the items of List-II. List – I List – II (i) Financial Breakeven- point (a) Rate of discount at which NPV is zero. (ii) Cost-Volume-Profit Analysis (b) Cost of capital remains the same for different degrees of financial leverage. (iii) Internal Rate of Return (c) Analysis to study relationship among fixed costs, variable costs, sales volume and profits. (iv) Net Operating Income Approach (d) The minimum level of EBIT needed to satisfy all fixed financial charges. Codes: (a) (b) (c) (d)

(A) (iii) (iv) (ii) (i)

(B) (i) (ii) (iii) (iv)

(D) (i) (ii) (iv) (iii)

35. Assertion (A): The focus of working capital management revolves around managing the operating cycle of the working capital. Reason (R): It is because the concept is useful to ascertain the requirements of cash to meet the operating expenses of a going concern.

(A) Both (A) and (R) are true, but (R) is not the explanation of working capital management.

(B) Both (A) and (R) are false.

(D) (A) is false, but (R) is true.

36. Which of the following terms includes the task, duties and responsibilities of a particular job?

(A) Job Evaluation

(B) Job Enrichment

(D) Job Enlargement

37. Match the following lists and indicate the correct pairing: List – I List – II 1. Simple Ranking a Evaluation by Superiors, Peers and Subordinates. 2. Paired Comparison b Order of rating from best to worst. 3. 360-Degree Appraisal c Standardised quantitative rating. 4. Graphic Rating d Comparing ratings to one another. The correct pairing is 1 2 3 4

(A) b d a c

(B) a b c d

(D) d a b c

38. In which method of performance appraisal, the evaluator keeps a written record of significant events and how difficult employees behaved during such events?

(A) Field Review Method

(B) BARS Method

(D) Assessment Centre Method

39. In connection with HRD, what is incorrect?

(A) It is a reactive function.

(B) It develops total organisation.

(D) It is an integrated system.

40. In which method of training, job conditions are duplicated with equipments and machines which are identical with those used at the work place?

(A) On the job training

(B) Apprenticeship training

(D) Internship training

41. Which one of the following techniques is used by the Commercial Banks in India to measure the risk arising from trading activity?

(A) Network Analysis

(B) Sensitivity Analysis

(D) E.V.A.

42. Which of the following schemes introduced by NABARD is intended to provide credit to farmers?

(A) Rural Infrastructure Development Fund

(B) Kisan Credit Card

(D) Co-Operative Development Fund

43. Which one of the following is a recent E-Banking initiative in Commercial Banks in India?

(A) RTGS

(B) NEFT

(D) NET Banking

44. Which of the following fee-based services are provided by IDBI? (i) Credit syndication (ii) Corporate trustee services (iii) Custodial services (iv) Foreign services Identify the correct code:

(A) (i), (ii) and (iv)

(B) (i) and (ii)

(D) (iii) and (iv)

45. SIDBI provides financial assistance in the following forms: (i) Bills financing (ii) Project financing (iii) Re-finance assistance (iv) Resource support to institutions Which of the following sequence is correct?

(A) (i), (iii), (iv) and (ii)

(B) (ii), (iv), (i) and (iii)

(D) (iv), (i), (iii) and (ii)

46. BOP problems in India cannot be attributed only to

(A) Large trade deficit

(B) Increase in invisible surplus

(D) The declining role of concessional external finance.

47. Arrange the stages in anti-dumping investigation process in right sequence. (i) Initiation (ii) Preliminary screening (iii) Rejection of unsubstantiated informationwww.netugc.com (iv) Provisional findings (v) Final findings and measures (vi) Permitting the exporting country to modify the practices

(A) (i), (ii), (iii), (iv), (vi), (v)

(B) (i), (ii), (iv), (iii), (vi), (v)

(D) (ii), (iii), (i), (vi), (iv), (v)

48. A situation where any advantage given by one member of the WTO to another member is extended to all WTO members is referred to as

(A) Trade Diversion

(B) Inter Regional Principle

(D) Least Traded Nation

49. The collapse of which of the following systems is related to the Triffin Paradox?

(A) Gold Standard

(B) Exchange rate mechanism (in 1992)

(D) None of the above

50. Which of the following is/are the assumptions of the Law of One Price? (i) Restriction on the movement of goods between countries. (ii) No transportation costs. (iii) No tariffs

(A) Both (i) and (ii)

(B) Only (i)

(D) (i), (ii) and (iii)

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