1. Which among the following is NOT a correct sequential combination?
(1) Macro Environment → External Environment → Customers → Prospects of Business Development
(2) Business Environment → External Environment → Micro Environment → Suppliers
(3) Business Environment → International Environment → Business Ethics → Payment of fair wages
(4) Macro Environment → Economic Environment → National Income → Pattern of Income distribution
2. From the following, identify the tools of fiscal policy
d. Taxation
e. Reserve Requirements
Select the correct answer from the options given below.
(1) a, b, d and e
(2) Both b and e
(3) a, c and d
(4) a, c, d and e
3. Assertion (A): Free international trade necessarily lowers the real wage of the scarce factor of Production in terms of any good
Reason (R): If the real wage declines in terms of every good, real income must suffer regardless of the taste and expenditure patterns of the labourer as consumers.
Choose the correct answer
(1) Both (A) and (R) are true and (R) is the correct explanation of (A)
(2) Both (A) and (R) are true but (R) is not the correct explanation of (A)
(3) (A) is true but (R) is false
(4) (A) is false but (R) is true
4. Match the following List-l with List-ll and select the correct answer:
List-l
b) International Trade theory of opportunity cost
c) Factor Endowment theory and International Trade
d) Doctrine of Reciprocal demand
--------------------
List-II
ii. J.S. Mill
iii. David Ricardo
iv. Heckscher-Ohlin
Codes:
(1) a-iii, b-ii, c - iv, d - i
(2) a-ii, b-i, c - iv, d - iii
(3) a-i, b-iii, c - ii, d- iv
(4) a-iii, b-i, c- iv, d- ii
5. Match the items of List-l with List-ll and indicate correct answer using the codes given below:
List-l
-----------------
List-II
i. mitigation of National hazards
ii. Balance of payments
iii. Fiscal Federalism
iv. Inflation
Codes:
(1) a-i, b-ii, c - iii, d - iv
(2) a-iii, b-i, c- ii, d-iv
(3) a-iv, b-iii, c-i, d- ii
(4) a-ii, bi, c - iv, d - iii
6. Foreign investments can be made through which of the following routes?
Choose the correct answer
(1) a, c and d
(2) a, b and d
(3) Both a and b
(4) Both c and d
7. NAFTA came into force from January, 1994 embracing
(1) USA, Canada, Cuba and Tobago
(2) USA, Canada and Mexico
(3) Cuba, Mexico, USA and Havana
(4) Trinidad, USA and Mexico
8. Which among the following are important bodies of WTO?
ii. NAFTA
iv. ASEAN
v. Council for Trade in Goods
vi. Council for Trade-related Aspects of IPR
vii. GATT
The appropriate combination is
(1) i, ii, iii, iv
(2) ii, iii, iv, v
(3) i, iii, v, vii
(4) iv, v, vi vii
9. The main difference between the IMF and World Bank is as follows:
(1) IMF is focuses on printing currencies and the World Bank is focuses on the circulation of currencies to the member countries.
(2) IMF is focuses on 'creating jobs' and World Bank is focuses on 'creating Demand' of goods and services to the member countries
(3) IMF is focuses on "Training" the employees and World Bank is focuses on 'Creating wealth' to the companies of the member countries
(4) IMF is focuses on providing short-term loans and maintaining financial stability and World Bank is focuses on long-term loans and maintain sustainable development to the member countries
10. Which of the following is NOT a trading block?
(1) NAFTA
(2) ASEAN
(3) SAARC
(4) IMF
11. Average inventory = Rs. 12,000; Closing inventory = Rs. 3,000 more than opening inventory. The value of closing inventory is ------------
(1) Rs. 24000 /-
(2) Rs. 12,000/-
(3) Rs. 13 ,500/-
(4) Rs. 15,200/-
12. Obsolescence of a depreciable asset may be caused by.
i. Economic and social changes
ii. Technological changes
iii. Change in market demand for the product or service
iv. Legal or other restrictions
(1) Only i
(2) Only i and ii
(3) All i, ii, iii and iv
(4) Only ii, iii and iv
13. Assertion (A): Cash flow statement and fund flow statement disclose same information
Reason (R): Both are prepared out of the same data
Choose the correct answer.
(1) Both (A) and (R) are true and (R) is the correct explanation of (A).
(2) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(3) (A) is true but (R) is false.
(4) (A) is false but (R) is true.
14. What would be the cost of goods sold with the following details?
Opening inventory = 8,500
Purchases = 30,700
Direct expenses = 4,800
Indirect expenses = 5,200
Closing inventory = 9,000
(1) Rs. 35,000
(2) Rs. 40,000
(3) Rs. 34,000
(4) Rs. 31,000
15. Jan 1, 2022 Provision for Bad Debts Rs. 2,500/-
Dec 31, 2022 Bad Debts = Rs. 1,870
Trade Receivables = Rs. 20,000
Make a provision for bad debts @ 5% on trade receivables. Provision for bad debts in profit and loss A/c will be ----------
(1) Rs. 370
(2) Rs. 800
(3) Rs. 750
(4) Rs. 220
16. Which of the following method is NOT recommended by AS 2 [Accounting Standard 2]
(1) FIFO
(2) LIFO
(4) Weighted average
17. Ram, Rahim and Robert are partners sharing profits and losses in the ratio of 5:4:3. Robert retires and if Ram and Rahim share profits of Robert in 4:3, then new profit sharing ratio will be ----------------
(1) 47:37
(2) 52:33
(3) 4:3
(4) 5:4
18. Match the following and choose the correct answer
List-l
a) Materiality
c) Historical cost concept
d) Consistency
--------------------
List-II
i. The same accounting method used by a firm from one period to another
ii. An inappropriate assumption of a firm being bankrupt
iii. A normal basis used for accounting assets
iv. Relates to the importance of an item or event
(1) a-iv, b-ii, c - iii, d- i
(2) a-i, b-ii, c - iii, d - iv
(3) a-ii, b-iii, c - iv, d - i
(4) a-iv, b-ii, c - i, d - iii
19. Capital introduced in the beginning by Ram is Rs. 20,000; further capital introduced during the year is Rs. 2,000/-; Drawings Rs. 250 per month and closing capital is Rs. 12,750. Amount of profit or loss for the year will be
(1) Profit Rs. 2,000
(2) Profit Rs. 2,250
(3) Loss Rs. 6,000
(4) Loss Rs. 6,250
20. Which model of human resource accounting is an extension of Lev and Schwartz model and consider the movement of an employee from one role to another during his career?
(2) Likert's model
(3) Giles and Robinson model
(4) Morse Net Benefit model
21. Assertion (A): Utility will be maximized when the marginal units of expenditure in each direction bring the same increment of utility
Reason (R): A consumer will try to maximize his utility
Select the correct answer:
(1) Both (A) and (R) are true
(2) Both (A) and (R) are false
(3) (A) is true but (R) is false
(4) (A) is false but (R) is true
22. Assertion (A): Negative MR is not possible in case of perfect competition.
Reason (R): The price remains constant for a perfectly competitive firm.
Examine the above statements and choose. the correct answer.
Codes:
(1) Both (A) and (R) are true and (R) is the correct explanation of (A).
(2) Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(3) (A) is true but (R) is false.
(4) (A) is false but (R) is true.
23. Match the following and choose the correct answer
List-l
a) Substitute goods
b) Complementary goods
c) Giffen goods
d) High income group
-------------------------------
List-II
i. Negative cross elasticity
ii. Low price elasticity
iii. Positive cross elasticity
iv. Positive price elasticity
(1) a-iii, b-iv, c - ii, d - i
(2) a-iii, b-i, c - iv, d - ii
(3) a-ii, b-iii, c - i, d - iv
(4) a-i, b-ii, c - iii, d - iv
24. Assertion (A): Want - the satisfying Power of commodity is called its utility
Reason (R): Utility may not have the characteristic of morality codes
Examine carefully Assertion (A) and Reason (R) and choose the correct answer
(1) Both (A) and (R) are true
(2) (A) is true but (R) is false
(3) Both (A) and (R) are false
(4) (R) is true but (A) is false
25. The market demand curve for a perfectly competitive industry is QD = 12 - 2P, the market supply curve is QS = 3 + P. The market will be in equilibrium if
(1) P = 6 and Q = 9
(2) P = 5 and Q = 2
(3) P = 4 and Q = 4
(4) P = 3 and Q = 6
26. If a firm sells its output in a market characterised by many sellers and buyers, a homogeneous product, unlimited long run resource mobility and perfect knowledge, then the firm is a
(1) Monopolist
(2) Oligopolist
(3) Perfect competitor
(4) Monopolistic competitor
27. Each short-run AC curve coincides with LAC at
(1) Upper point
(3) Lower point
(3) Middle lower point
(4) Do not intersect
28. A model of game theory of oligopoly is known as
(2) Monopoly cell
(3) Jailhouse sentence
(4) Jury box
29. The minimum long-run average cost can be determined on a
i. LAC curve for a normal production function
ii. LAC curve for a linear production function
iii. Planning curve
iv. Envelope curve
(1) i, ii and iii
(2) ii, iii and iv
(3) i, iii and iv
(4) i, ii and iv
30. A significant property of the Cobb-Douglas production function is that the elasticity of substitutes between input is
(1) Equal to 1
(2) More than 1
(3) Less than 1
(4) Zero
31. Which of the following options forbids the future pledging or mortgaging of any of the borrower's assets ?
(2) Covenant
(3) Loan Agreement
(4) General Routine provision
32. Under the Walter model, if the rate of return is greater than the cost of capital, then what should be the impact of it ?
(1) These firms are called growth firms, they should have a hundred per cent payout ratio
(2) These firms are called growth firms, they should have zero payout ratio
(3) The firm is indifferent towards how much is to be retained and how much is to be distributed among the shareholders
(4) There is no method to show relationship between returns and cost under Walter's model
33. Which of the following factors is NOT directly responsible for slowing down the growth of infrastructure?
(1) High level of perceived political risk
(2) High level of sunk cost
(3) High probability of time and cost over run
(4) Introduction of competition in all sectors
34. Indicate the correct combination of discounting techniques from the following techniques of capital budgeting decision.
I. Profitability Index
II. Net Present value
(1) I, II, III
(2) II, III, IV
(3) I, II, IV
(4) I, III, IV
35. Examine carefully the Assertion (A) and Reason (R) and choose the correct option
Assertion (A): Arbitrage keeps the cost of capital constant despite change in the capital structure
Reason (R): It ensures compensating inverse change in cost of equity capital with a change in the cost of debt capital
(1) Both (A) and (R) are true and (R) is the correct explanation of (A)
(2) Both (A) and (R) are true but (R) is not the correct explanation of (A)
(3) (A) is true but (R) is false
(4) (A) is not true but (R) is true
36. Risk of a portfolio can be minimized by which one of the following?
(1) Combining two securities having a perfect positive correlation in their expected returns
(2) Combining two securities having a perfect negative correlation in their expected returns
(3) Combining two securities having a partially positive correlation in their expected returns
(4) Combining two securities having a partially negative correlation in their expected returns
37. Identify the INCORRECT statement from the following :
(1) Broken-date contract is a full month forward contract
(2) Currency Arbitrage refers to making a profit by buying a currency cheap in one market and selling it dearer in the other market at a particular point of time
(3) Currency futures market refers to organized foreign exchange market where a fixed amount of a currency is exchanged on a fixed maturity date in the pit
(4) Currency options market refers to the market for the exchange of currency where the option buyer enjoys the privilege of not exercising the option if the rate is not favourable
38. The instrument chosen for enhancement of international liquidity is -------
(1) Society for Worldwide Inter-bank Financial Telecommunication (SWIFT)
(2) Special Drawing Rights (SDRs)
(3) Multilateral Netting
(4) Netting of Payments
39. Select the correct code of the following statements.
Statement-l: A Global Depository Receipt (GDR) is a bank certificate issued in more than one country for shares in a foreign company
Statement-II: A GDR is similar to American Depository Receipt (ADR)
Statement-III: GDRs are called EDRs when private markets are attempting to obtain euros
Codes:
(1) Statements I, II and III are correct
(2) Statements I and II are correct, but III is incorrect
(3) Statements I and III are correct but II is incorrect
(4) Statements II and III are correct, but I is incorrect
40. Match the following:
List-l
a) Net Income Approach
b) Net Operating Income Approach
c) Traditional Approach
d) Modigliani-Miller Approach
---------------------------
List-II
i. Also known as intermediate approach
ii. Change in the capital structure of a company does not affect the market value of the company and overall cost of capital
iii. It provides analytical sound and logically consistent behavioural justification for their hypothesis
iv. A firm can minimize the overall cost of capital by using debt financing to the maximum extent
(1) a- iv, b - ii c - i d - iii
(2) a- ii, b - i c - iv d = iii
(3) a- iii, b - iv c - i d - ii
(4) a- ii, b - i c - iii d - iv
41. Which of the following measures of Central tendency is NOT sensitive to extreme values ?
(1) Mean
(2) Median
(3) Mode
(4) Harmonic Mean
42. Consider the following statements:
i. Quartile deviation is more instructive range as it discards the dispersion of extreme values
ii. Coefficient of quartile deviation cannot be used to compare the degree of variations in different distributions
iii. There are 10 deciles for a series
Which one of the above statements is/are correct?
(1) i, ii and iii
(2) ii only
(3) iii only
(4) i only
43. If in a regression line y = a + bx where b is zero, then the regression line will
(1) pass through the origin
(2) be parallel to X - axis
(3) be parallel to Y - axis
(4) have the same intersection point on X - axis as well as Y - axis
44. For a Poisson's distribution with n = 200 and p = 0.02 the mean is ----------
(1) 4
(2) 10
(3) 20
(4) 40
45. By ----------- we mean the investigation of problem to further and develop existing knowledge
(1) Basic Research
(2) Applied Research
(3) Future Research
(4) Assumptions
46. Sample design involves which of the following?
i. Sampling unit
ii. Size of samples
iii. Type of universe
iv. Source list
v. Sampling procedure
Which one of the following sequence is correct?
(1) i, ii, iii, iv, v
(2) iii, iv, i, ii, v
(3) iii, i, iv, ii, v
(4) iii, v, i, iv, ii
47. Assertion (A): A randomly large sized sample drawn randomly from a given population contains almost all the characteristics of the population.
Reason (R): As per the sampling theory, the assumption is based only on the law of inertia of large numbers.
Choose the correct answer:
(1) (A) is true and (R) as per the sampling theory is also fully true
(2) (A) is true, but (R) as per the sampling theory is not fully true
(3) Both (A) and (R) are false
(4) (A) is false, but (R) is sufficient as per the sampling theory
48. The difference between sample statistic and its corresponding population parameter is --------
(1) Sampling error
(2) Measurement error
(3) Coverage error
(4) Data tool error
49. Match the following and choose the correct answer
List-l
a) f-test
b) t-test
c) x2 test
d) z-test
-----------
List-II
i. Association between Attributes
ii. Large samples
iii. Small samples
iv. More than two sample means
(1) a - iv , b-iii , c - i , d = ii
(2) a - i b - ii c - iii d - iv
(3) a - iv b - ii c - i d - i
(4) a - iii b - i c - iv d - ii
50. The personalistic style of writing a research report is permissible in which of the following types of research ?
a) Grounded theory research
b) Experimental research
c) Participant observation-based research
d) Historical Quantitative research
e) Case study research
Choose the correct answer from the options given below
(1) a, b and c only
(2) b, c and d only
(3) c, d and e only
(4) a, c and e only
51. The managerial function of organizing involves
(1) Reviewing and adjusting plan in the light of changing conditions
(2) Establishing a programme for the accomplishment of objectives
(3) Creating a structure of functions and duties to be performed
(4) Getting things done through others
52. Which of the following is NOT true about a matrix organisation?
(1) It is relatively permanent
(2) The project manager's authority is distributed reasonably
(3) There is slow information processing
(4) The project heads have to share resources with functional heads
53. Examine the following Assertion (A) and Reason (R) and choose the correct answer.
Assertion (A): A manager delegates authority
Reason (R): The manager wants to shirk his responsibility.
Codes:
(1) Both (A) and (R) are correct
(2) Both (A) and (R) are incorrect
(3) (A) is correct but (R) is incorrect
(4) (A) is incorrect but (R) is correct
54. Examine Assertion (A) and Reason (R) and choose the correct answer.
Assertion (A): High morale and high productivity go hand-in-hand.
Reason (R): Workers do not have their own ways for relief from fatigue and monotony.
Codes:
(1) Both (A) and (R) are true
(2) (A) is true, but (R) is false
(3) (A) is false but (R) is true
(4) Both (A) and (R) are false
55. Find out the correct combination of statements with regard to business ethics and choose the correct answer.
A) Business ethics are the behaviour, a business adheres to in its daily dealings
B) The ethics of a particular business can be diverse
C) Business ethics has normative and descriptive dimensions.
Codes:
(1) Only (A) and (B)
(2) Only (A) and (C)
(3) Only (B) and (C)
(4) (A), (B) and (C)
56. Arrange the following in order and choose the right option.
i) Promotion
ii) Performance appraisal
iii) Recruitment
iv) Training and development
Codes
(1) (iii), (iv), (ii), (i)
(2) (iii), (ii), (i), (iv)
(3) (i), (ii), (iii), (iv)
(4) (iii), (i), (ii), (iv)
57. Carefully examine Assertion (A) and Reason (R) and select the correct answer
Assertion (A): In real terms, workers participation in management has failed in India.
Reason (R): There is a lack of attitudinal change, multiplicity of union and the absence of a procedure to determine a sole bargaining agent in an organisation.
Codes:
(1) (A) is correct, and (R) is the correct explanation of (A)
(2) (A) is correct, but (R) is not the correct explanation of (A)
(3) (A) is correct, but (R) is incorrect
(4) (A) is incorrect, but (R) is correct
58. Which of the following factors lead to group cohesiveness?
A) Agreement on group goals
B) High intra-group competition
C) Frequent interaction of members
D) Personal attractiveness
Select the right answer from the following codes
Codes:
(1) (A) and (B)
(2) (A), (B) and (C)
(3) (A), (C) and (D)
(4) (A), (B) and (D)
59. Which of the following is a deterioration of mental efficiency, reality testing and moral judgement that results from in-group pressure?
(1) Harassment
(2) Group think
(3) Group burnout
(4) Group control
60. Examine the following Assertion (A) and Reason (R)
Assertion (A): Corporate culture is generally considered closed and threatening or open and participatory
Reason (R): Corporate culture and style of functioning of top managers is an important factor for determining the internal environment of a company.
Select the right answer from the following codes
Codes:
(1) (A) is correct, but (R) is incorrect
(2) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(3) Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
(4) (R) is correct, but (A) is incorrect
61. Match List-I (type of Mutual Fund) with List-II (Features) and select the correct answers.
List-l
Type of Mutual Fund
a) Open ended fund
b) Income fund
c) Close-ended fund
d) Growth fund
---------------------
List-II
Features
i. Maximizes short term returns to investors
ii. Can sell unlimited number of units
iii. Units are not redeemable at their NAV
iv. Maximizes long term return to investors
Codes:
(1) a - iii, b - iv, c - ii, d - i
(2) a - iii, b - iv, c - i, d - ii
(3) a - ii, b - i, c - iv, d - iii
(4) a - ii, b - i, c - iii, d - iv
62. Which of the following is the largest stock exchange in India in terms of market capitalization ?
(2) Calcutta Stock Exchange
(3) National Stock Exchange
(4) Madras Stock Exchange
63. Basel I Norms Meeting was held in which country?
(1) Switzerland
(2) U. S. A
(3) Japan
(4) Russia
64. Which of the following are the functions of foreign bank?
A) Remitting money from one country to another
B) Discounting of foreign bills
C) Buying and selling of metals
D) Helping in import & export trade
(1) A and B
(2) B and C
(3) A, B and C
(4) A, B, C and D
65. What is "SARFAESI Act" related to NPAs?
(1) Act to promote environmental sustainability
(2) Act related to export-import regulations
(3) Act allowing banks to auction properties of defaulting borrowers
(4) Act regulating labour relations in Banks
66. Indian Government introduced which scheme to promote financial inclusion by providing bank accounts to all citizens?
(1) Swachh Bharat Abhiyan
(2) Pradhan Mantri Jan Dhan Yojana
(3) Pradhan Mantri SVANidhi scheme
(4) Sarva Shiksha Abhiyaan
67. What is "401(K) Match" in the context of a pension plan?
(1) A type of investment option within 401(K) plan
(2) An agreement between employees to share pension contributions as per 401(K)
(3) Percentage of an employee's salary that is contributed to a pension fund u/s 401(K)
(4) Employee's contribution that matches a portion of an employee's 401 (K) contributions
68. IRDA mainly focuses on.
(1) Banking Institutions
(2) Non-banking financial institutions
(3) Life Insurance and general insurance companies in India
(4) Educational Institutions
69. The regulatory framework ensures that insurance companies maintain a certain level of financial stability known as
(1) Profit Threshold
(2) Risk Management
(3) Solvency Margin
(4) Solvency Stability
70. Which of the following are money markets instruments?
(a) Treasury, 8% 2011
(b) National Savings certificates
(c) 3 month certificate of deposit
(d) Treasury bill with 7 days to maturity
(e) 14-days repurchase agreement of Treasury 8% 2007
(1) a and d
(2) a, b and e
(3) a, c and d
(4) c, d and e
71. Which of the following is used by the strategic marketing planning process?
(1) Resource base provided by the firm's strategy
(2) Economic impact of additional sales
(3) Tactical plans must be implemented by the entire Organisation.
(4) Basis for any marketing strategy
72. Select the phases of the product life cycle
a) Initiation
b) Decline
c) Boom
d) Introduction
e) Maturity
f) Growth
Choose the right option
Codes:
(1) a, c, e, f
(2) a, b, c, d
(3) d, f, e, b
(4) b, c, e, f
73. The number of product lines a company carries is called
(1) Product range
(2) Product mix depth
(4) Product length mix
74. Examine Assertion (A) and Reason (R) and choose the correct answer:
Assertion (A): Differential pricing structure is designed to accommodate various categories of buyers.
Reason (R): It aims at increasing sales and revenues and driving competitors out of the market.
Codes:
(1) (A) and (R) are correct
(2) (A) is correct, but (R) is incorrect
(3) (A) is incorrect, but (R) is correct
(4) Both (A) and (R) are incorrect
75. For promoting sales advertising, endeavours may be made as per?
i) Competitive parity
ii) Objective and task
iii) Tied sales
iv) All-one-can-afford
Select the right answer from the following codes
Codes:
(1) i and ii only
(2) ii, iii and iv only
(3) i, ii and iv only
(4) iii and iv only
76. When a company distributes its products through a channel structure that includes one or more resellers it is known as
(1) Indirect marketing
(2) Direct marketing
(3) Multi-level marketing
(4) Integrated marketing
77. Consumer buying from different stores or product brands and not being loyal to any particular store or brand are known as
(1) Split loyal
(2) Hardcore loyal
(3) Shifting loyal
(4) Soft core loyal
78. The four unique elements in the case of service sector marketing are
(1) Independence, intangibility, inventory and inception
(2) Independence, increase, inventory and intangibility
(3) Intangibility, inconsistency, inseparability and inventory
(4) Intangibility, independence, inseparability and inventory
79. Which of the following is NOT a form of direct marketing?
(1) Kiosk marketing
(2) Tele marketing
(3) Super market
(4) Catalogue marketing
80. Distribution logistics, also termed as market logistics, does NOT include
(1) Distribution channel
(2) Inventory
(3) Transportation
(4) Warehouses
81 . The author of a work may ------------- all or any of the rights comprised in the copyright in the work by giving notice in the prescribed form to [the Registrar as copyright or by way of public notice] and there upon such right shall, subject to the provisions of the Sub Section (3), cease to exist from the date of the notice
(1) Surrender
(2) Relinquish
(3) Licence
(4) Transfer
82. What is the proposed punishment for cyber terrorism in IT Act under Section 66F?
(1) 1 crore penalty
(2)10 crore penalty
(3) Life imprisonment
(4) 10 years imprisonment
83. Limited Liability Partnership Act 2008 (6 of 2009) is an Act to make provisions for the,
(1) Formulation and Regulation of joint venture with limited liability formed under indian Contract Act 1871-
(2) Formulation and Regulation of general partnership firms and limited liability formed under Indian Partnership Act 1932
(3) Formulation and Regulation of limited liability partnership with limited liability provided under the Limited Liability Partnership Act, 2008
(4) Formulation and Regulation of limited liability partnership and limited company
84. Match the following with regard to Right to Information Act, 2005
List-l
a) State Chief Information Commissioner
b) Central Information Commission
c) Chief Information Commissioner
d) State Public Information Officer
--------------------
List-II
i. Sec 12(3)
ii. Sec 5(2)
iii. Sec 15(3)
iv. Sec 12(1)
Select the correct answer from the following codes
Codes:
(1) a - i b - iii c - iv d - ii
(2) a - ii, b - iii, c - i, d - iv
(3) a - iii b - iv c - i d = ii
(4) a iv, bii, c - iii, d - i
85. The buyer shall have and enjoy quiet possession of goods. This in an
(1) Implied condition as to possession
(2) Implied warranty as to possession
(3) Implied condition as to title
(4) Implied warranty as to title
86. Consider the following statements related to the RTI Act-2005
i) No court shall entertain any suit applications or other proceedings in respect to any order mode
ii) No such order shall be called in question otherwise by the way of an appeal under this Act
iii) Democracy requires an informed citizenry and transparency of information which are vital to its functioning and also to contain corruption and to hold Government and their instrumentalities accountable to the governed
Which of the above statements is/are correct?
(1) Only (i)
(2) Only (i) and (iii)
(3) Only (i) and (ii)
(4) (i), (ii) and (iii)
87. Which of the following Section of Negotiable Instruments Act, 1881 describes about Endorsement?
(1) Section 4
(2) Section 5
(3) Section 6
(4) Section 15
88. Which of the following is closely associated with IPR?
(1) GATS
(2) TRIMS
(3) TRIPS
(4) MFN
89. The general rule is that the buyer of goods is responsible for his choice or selection. This doctrine is
(1) Ignorantia Juris non excusat
(2) Caveat emptor
(3) Quid pro quo
(4) Nemo dat quod non habet
90. The officer designated by the public authorities in all administrative units or offices under it to provide information to the citizen requesting for information under the Act is known as
(1) Public Information Officer
(2) Appellate Authority
(3) Chief Information Commissioner
(4) Assistant Public Information Officer
91. Examine the following Assertion (A) and Reason (R)
Assertion (A): NPS with drawal shall not be chargeable to tax
Reason (R): The amount of withdrawal should not exceed 25% of the total contribution made by the employee in NPS.
Choose the correct answer using the codes given.
Codes:
(1) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(2) Both (A) and (R) are correct but (R) is not the correct explanation of (A)
(3) (A) is correct but (R) is incorrect
(4) (A) is incorrect but (R) is correct
92. When depreciation is recorded by charging to asset account, the asset appears
(1) At realizable value
(2) At market value
(3) At original cost
(4) At original cost less depreciation
93. Examine the following Assertion (A) and Reason (R) and select the correct options from the codes given.
Assertion (A): Section 2 (42A) defines short-term capital asset as a capital asset held by assessee for not more than 36 months immediately preceding the date of transfer.
Reason (R): Therefore an asset which is held by the assessee for a period of >12 months, immediately preceding the date of transfer is a long-term capital Asset.
Codes:
(1) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(2) Both (A) and (R) are correct but (R) is not the correct explanation of (A)
(3) (A) is correct but (R) is incorrect
(4) (A) is incorrect but (R) is correct
94. Examine the following Assertion (A) and Reason (R) and select the correct option from the codes given
Assertion (A): Applicability of Section 60 consists of the tax payers own an asset, the ownership of asset is not transferred by him and the income from the asset is transferred to any person under settlement for an agreement.
Reason (R): If satisfied, the income from asset would be transferable in the hands of the transferer.
Codes:
(1) (A) is incorrect but (R) is correct
(2) (A) is correct but (R) is incorrect
(3) Both (A)and (R) are correct but (R) is not the correct explanation of (A)
(4) Both (A) and (R) are correct and (R) is the correct explanation of (A)
95. Match the following and choose the correct answer
List-l
a) Interest on deferment of advance tax
b) TDS certificate related to
c) Self-acquired property of HUF member iii. is included in the income of
d) Section 80D of Income Tax covers
--------------------
List-II
i. Form 16
ii. Individual's income
iii. Section 234E of the Income Tax Act, 1961
iv. Medical insurance premium
Codes:
(1) a - iii, b - i, c - ii, d - iv
(2) a - i bii, c - iii, d - iv
(3 ) a - iii , b-iv, c-ii, d-i
(4) a - ii b - i c - iv d - ii
96. Appeal to high court against the order of ITAT is filed within
(1) 120 Days
(2) 60 Days
(3) 90 Days
(4) 30 Days
97. Section 50C makes special provision for determining the full value of consideration in cases of transfer of -------------
(1) Plant and Machinery
(2) Land and building
(3) All movable properties other than plant and machinery and peripherals
(4) Computer
98. On the expiration date of the future contract, the price of the contract
(1) Always equals the purchase price of the contract
(2) Always equals the average price over the life of the contract
(3) Always equals the price of the underlying asset
(4) Always equals the average of the purchase price and the price of the underlying asset
99. Which of the following is NOT a revenue receipt ?
i. Compensation received for the loss of capital asset
ii. Compensation received for damaged or loss of a trading asset
iii. Profits on purchase and sale of shares by a share broker on his own account
iv. Income from letting out buildings owned by a company to its employees etc
(1) i only
(2) i and ii
(3) i, ii and iii
(4) i and iii
100. An authority of advance shall have the following powers
i. Discovery and inspection
ii. Enforcing the attendance of a person and examining him an oath
iii. Compelling the production of books and account and other documents
Select the correct answer:
(1) i only
(2) i and ii only
(3) i and iii only
(4) i, ii and iii
Official Answer Key :
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