SLET NE Commerce Solved Paper 2021 [Paper II] - Dynamic Tutorials & Services

SLET NE Commerce Solved Paper 2021 (Paper II)

Assam SLET Solved Question Paper Commerce

Based on Memory and Adjusted As per New Syllabus

[Time: 2 hour; Maximum Marks: 200]

Note: This paper contains Hundred (100) objective type questions, each question carrying two (02) marks. All the questions are compulsory.

In this post you will get SLET NE Commerce Solved Paper 2021 with Proper Explanation. SLET NE General Paper 1 Solutions will also be available very soon on our website.

Assam SLET Exam is conducted every year by SLET Commission NE Region. Question Papers of Assam SLET Exam is tough as compared to UGC NET Exam question paper. Syllabus of Assam SLET (SLET NE) Exam and UGC NET exam is similar. You can refer Assam SLET Commerce syllabus for 2023 here.

SLET NE Commerce Solved Paper 2021

Also Read: Assam SLET (SLET NE) Solved Question Paper 2012 to 2022 [Commerce]

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Assam SLET (SLET NE) Commerce Solved Question Paper 2021

Assam SLET (SLET NE) Commerce Solved Question Paper 2022

Assam SLET (SLET NE) Commerce Solved Question Paper 2023

1. Match List – I with List – II and select the correct answer using the codes given below:

List-I

List-II

(a) Natural environment.

(b) Technological environment.

(d) Cultural environment.

1. High research and development budget.

2. People’s view on nature.

3. Increase cost of energy.

4. Increase public interest group.

Codes:

(A) (a)-(3), (b)-(1), (c)-(4), (d)-(2).

(B) (a)-(2), (b)-(4), (c)-(3), (d)-(1).

(D) (a)-(3), (b)-(2), (c)-(4), (d)-(1).

Ans: (D) (a)-(3), (b)-(2), (c)-(4), (d)-(1).

2. Read the Assertion (Ass) and Reason (R) and find the correct answer using the codes given below:

Assertion (Ass): Hedging can increase the risk of exporters.

Reason (R): Arbitrage achieves equality of exchange rates at two places.

Codes:

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

(B) Both (Ass) and (R) are correct, and (R) offers correct explanation of (Ass).

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

Ans: (A) (Ass) is incorrect, but (R) is correct.

3. Which of the following is not an item on the Current A/c forming part of the Balance of Payments A/c?

(A) Receipts from exports.

(B) Payments on imports.

(D) Donations received from foreign countries.

Ans: (C) Loan taken from foreign countries.

4. Arrange the following in the order of their inception.

(i) WTO.

(ii) World Bank.

(iii) SAFTA.

(iv) ADB.

Codes:

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

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

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

Ans: (A) (ii) (iv) (i) (iii).

5. Consider the following initiatives which are either related to the process of liberalisation or to the measures towards globalisation:

(a) Corporatisation of department and public undertaking.

(b) Creation of Foreign Investment Board to clear FDI Proposals.

(d) Simplifying and rationalizing Tax rate structure and procedures.

Select the correct answer using the following codes:

Codes:

(A) (a) and (b) related to liberalisation and (c) and (d) related to globalisation.

(B) (a) and (c) related to liberalisation and (b) and (d) to globalisation.

(D) (b) and (d) related to liberalisation and (a) and (c) to globalisation.

Ans: (C) (a) and (d) related to liberalisation and (b) and (c) to globalisation.

6. Match the Industrial Policies in List – I with its corresponding objective/Thrust in List – II:

List-I

List-II

(a) Mixed Economy.

(b) Focus on development of heavy industries (Mahalanobis Model)

(d) Reducing industrial sickness, unemployment, rural-urban disparities.

1. Industrial Policy 1980.

2. Industrial Policy 1977.

3. Industrial Policy 1956.

4. Industrial Policy 1948.

Select correct answer using the following codes:

Codes:

(A) (a)-(4), (b)-(3), (c)-(2), (d)-(1).

(B) (a)-(4), (b)-(1), (c)-(3), (d)-(2).

(D) (a)-(4), (b)-(1), (c)-(2), (d)-(3).

Ans: (C) (a)-(4), (b)-(3), (c)-(1), (d)-(2).

7. ASEAN Economic Community was established in the year –

(A) 2014.

(B) 2015.

(D) 2017.

Ans: (B) 2015.

8. Match the following:

List-I

List-II

(a) Political legal environment.

(b) Economic environment.

(d) Technological environment.

I. Systematic application of scientific or other organised knowledge to practical tasks.

II. Forces which have economic impact on business.

III. Legislature, executive and judiciary in shaping directing, developing and controlling business.

IV. A set of beliefs, customs practices and behaviour that exists within population.

Codes:

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

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

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

Ans: (D) (a)-(III), (b)-(II), (c)-(IV), (d)-(I).

9. The European Union is an example of

(A) Customs Union.

(B) Free Trade Area.

(D) Common Market.

Ans: (C) Economic Union.

10. Consider the following statements:

(1) Operational Loss is a source of funds.

(2) Decrease in working capital is a source of funds.

(3) Addition to fixed assets are application of funds.

(4) Fresh introduction of capital is an application of funds.

Which of the above statements are applicable while preparing the funds flow statement?

Codes:

(A) 1 and 2.

(B) 1 and 3.

(D) 1, 3 and 4.

Ans: (C) 2 and 3.

11. Consider the following statements and find the correct answer using the codes given below:

Statement I: Revenue is recognised only when the sales is performed.

Statement II: Assets is always equal to liabilities.

Codes:

(A) Both the Statements are correct.

(B) Both the Statements are incorrect.

(D) Statement I is incorrect but Statement II is correct.

Ans: (C) Statement I is correct but Statement II is incorrect.

12. Read the statements given below (Ass) and (R) and choose the correct answer using codes given below:

Assertion (Ass): The business earns a surplus of sales revenue over variable costs, which is called contribution.

Reason (R): Once fixed costs are fully recovered such excess contribution is termed as profits.

Codes:

(A) Both (Ass) and (R) are true and (R) is correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (C) (Ass) is true but (R) is false.

13. A capital budgeting technique through which discount rate equates the present value of the future net cash flows from an investment project with the project’s initial cash outflow is known as:

(A) Pay-back period.

(B) Internal rate of return.

(D) Profitability index.

Ans: (B) Internal rate of return.

14. X Ltd. has an overall P/V ratio of 40%. The marginal cost of product A is Rs. 30. Calculate the selling price of product A.

(A) Rs. 40.

(B) Rs. 30.

(D) Rs. 50.

Ans: (D) Rs. 50.

15. Match List – I with List – II and select the correct answer using the codes given below:

List-I

List-II

(a) Sweat equity shares.

(b) Bonus shares.

(d) Buy back of shares.

1. Shares are given in the form of extra dividend.

2. Shares issued by a company at a discount.

3. Opportunity to existing shareholders to purchase shares.

4. Company’s call option to buy shares form shareholders.

Codes:

(A) (a)-(3), (b)-(1), (c)-(2), (d)-(4).

(B) (a)-(2), (b)-(4), (c)-(3), (d)-(1).

(D) (a)-(2), (b)-(1), (c)-(3), (d)-(4).

Ans: (D) (a)-(2), (b)-(1), (c)-(3), (d)-(4).

16. Read the Assertion (Ass) and Reasoning (R) and select the correct answer code given below:

Assertion (Ass): Depreciation amount is added back to net profit for calculating funds flow statement.

Reason (R): Depreciation is an item of cost but not fund.

Codes:

(A) Both (Ass) and (R) are correct and (R) is a correct explanation of the (Ass).

(B) Both (Ass) and (R) are correct but (R) is not a correct explanation of the (Ass).

(D) (Ass) is incorrect but (R) is correct.

Ans: (B) Both (Ass) and (R) are correct but (R) is not a correct explanation of the (Ass).

17. Examine the statements and state whether they are True/False by selecting the correct option using the codes given below:

(a) Dividend can be paid out of capital profit if only Article of Association of the company permits.

(b) Goodwill taken over may be written off out of profit prior to incorporation.

(d) Capital redemption reserves can be used for issuing fully paid bonus shares to the shareholders according to the Companies Act.

Codes:

(A) (a) – False, (b) – True, (c) – False, (d) – True.

(B) (a) – True, (b) – False, (c) – True, (d) – False.

(D) (a) – False, (b) – False, (c) – True, (d) – False.

Ans: (A) (a) – False, (b) – True, (c) – False, (d) – True.

18. Select the correct answer from the given codes stating which items are current liabilities.

(i) Payments due to staff.

(ii) Bonds redeemable after 6 months.

(iii) Advance income.

(iv) Debentures redeemable after 6 months but before 12 months.

Codes:

(A) (i) and (ii) are current liabilities.

(B) (i), (ii) and (iii) are current liabilities.

(D) All are current liabilities.

Ans: (D) All are current liabilities.

19. Which one of the following signifies “Triple Bottom Line Audit”?

(A) Financial Environmental and Performance audit.

(B) Social, Financial and Economic Audit.

(D) Cost, Financial and Environmental Audit.

Ans: (C) Social, Economic and Environmental Audit.

20. Given, Capital = Rs. 5,00,000, Creditors = Rs. 1,00,000, Revenue during the period = Rs. 3,30,000, Expenses during the period = Rs. 1,40,000.

What is the amount of total assets?

(A) Rs. 7,90,000.

(B) Rs. 8,10,000.

(D) Rs. 9,30,000.

Ans: (A) Rs. 7,90,000.

21. Monopsony is a situation:

(A) where there are large number of sellers and one buyer with homogeneous products.

(B) where there are large number of buyers and one seller with homogeneous products.

(D) where there are large number of buyers and large number of sellers with different products.

Ans: (A) where there are large number of sellers and one buyer with homogeneous products.

22. For the following statements of Assertion (Ass) and Reason (R), indicate the correct answer using the codes given below:

Assertion (Ass): Want satisfying power of a commodity is called its utility.

Reason (R): Utility may not have the characteristics of morality.

Codes:

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

(B) (Ass) is correct but (R) is not correct.

(D) (R) is correct but (Ass) is not correct.

Ans: (A) Both (Ass) and (R) are correct.

23. Normally demand curve slopes

(A) upward.

(B) downward.

(D) vertical.

Ans: (B) downward.

24. For the following statements of Assertion (Ass) and Reason (R), indicate the correct answer using the codes given below:

Assertion (Ass): Marginal cost and differential cost do not convey the same meaning in all circumstances.

Reason (R): Differential cost increases or decreases due to change in fixed cost.

Codes:

(A) Both (Ass) and (R) are ture and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (C) (Ass) is true and (R) is false.

25. Match List – I with List – II and find the correct answer using the codes given below the lists:

List-I

List-II

(a) Indifference curve.

(b) Demand curve.

(d) Price leadership.

1. Slopes downward to the right.

2. P = AR = MR = d.

3. Oligopoly.

4. Convex to the origin.

Codes:

(A) (a)-(2), (b)-(3), (c)-(4), (d)-(1).

(B) (a)-(3), (b)-(4), (c)-(1), (d)-(2).

(D) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

Ans: (C) (a)-(4), (b)-(1), (c)-(2), (d)-(3).

26. Examine the statements Assertion (Ass) and Reason (R) and indicate the correct answer code from the codes given.

Assertion (Ass): As the proportion of one variable factor in a combination with fixed factor is increased, after a point the marginal product of the factor will diminish.

Reason (R): Beyond the level of optimum combination of inputs leads to this.

Codes:

(A) (R) is appropriate Reason of (Ass).

(B) (R) is not appropriate Reason of (Ass).

(D) (Ass) is independent of (R).

Ans: (A) (R) is appropriate Reason of (Ass).

27. Read the statement (a, b and c) and examine whether these are ‘true’ or ‘false’. Select the correct combination from the answer codes given:

(a) Large number of buyers and sellers exist in monopolistic competition.

(b) Firms produce differentiated products in monopolistic competition.

Codes:

(A) (a) – True, (b) – True, (c) – False.

(B) (a) – False, (b) – False, (c) – False.

(D) (a) – True, (b) – False, (c) – True.

Ans: (C) (a) – True, (b) – True, (c) – True.

28. Consider the following statements:

1. The demand for necessities is inelastic.

2. Demand for Luxuries is elastic.

3. A product which has several uses has an elastic demand.

Which of the statements given above is/are correct?

Codes:

(A) Only 3.

(B) Both 2 and 3.

(D) 1, 2 and 3.

Ans: (D) 1, 2 and 3.

29. Total production will be maximum when:

(A) Marginal production is maximum.

(B) Average production is maximum.

(D) Average production is equal to the marginal production.

Ans: (C) Marginal production is zero.

30. Read the statements Assertion (Ass) and Reasoning (R) and select the correct answer:

Assertion (Ass): Price reduction normally leads to an increase in the demand for a commodity.

Reason (R): Price reduction leads to the entry of new buyers of the commodity in the market.

Codes:

(A) (Ass) is correct, but (R) is wrong.

(B) (Ass) is wrong, but (R) is correct.

(D) Both (Ass) and (R) are correct but (R) does not offer full explanation of (Ass).

Ans: (C) Both (Ass) and (R) are correct and (R) offers full explanation of (Ass).

31. Read the following statements, one leveled as Assertion (Ass) and other the Reason (R) and select your answer using the codes below:

Assertion (Ass): One Single Primary Ratio that measures the financial outcome of all recorded business activities is ROI.

Reason (R): In practice, however, variations are also found in the ratio because capital and return are subject to different interpretations by the firms.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

32. The current trading cycle practised by the stock exchanges in India is:

(A) T + 2 days.

(B) T + 3 days.

(D) T + 5 days.

Ans: (A) T + 2 days.

33. Systematic risk does not include:

(A) market risk.

(B) interest rate risk.

(D) purchasing power risk.

Ans: (C) financial risk.

34. According to Walter, a firm should pay 100% dividend if

(A) return (r) > cost of capital (k).

(B) r = k.

(D) None of the above.

Ans: (C) r < k.

35. Which of the following is not a money market instrument?

(A) Treasury Bill.

(B) Commercial paper.

(D) Debenture.

Ans: (D) Debenture.

36. Which of the following is a type of dividend payment?

(A) Issue of bonus shares.

(B) Rights issue.

(D) All of the above.

Ans: (A) Issue of bonus shares.

37. An aggressive security would have a ‘beta’ _______. (Fill up the gap)

(A) equal to zero.

(B) greater than one.

(D) None of the above.

Ans: (B) greater than one.

38. Which of the following enjoys limited liability?

(A) A general partnership.

(B) A company.

(D) None of the above.

Ans: (B) A company.

39. Dividend Capitalisation Model was developed by:

(A) M. H. Miller and Franco Modigliani.

(B) Ezra Solomon.

(D) Myron J. Gordon.

Ans: (D) Myron J. Gordon.

40. Match List – I with List – II and select the correct answer using the codes given below:

List-I

List-II

(a) A long term debt instrument on which interest is accumulated and paid on maturity.

(b) A debt instrument on which rebate is available under the Income Tax Act.

(d) Buying the right but not the obligation to sell a security for a specific price.

1. Mutual Fund.

2. Deep discounts Bond.

3. Infrastructure Bond.

4. Put option.

Codes:

(A) (a)-(4), (b)-(1), (c)-(2), (d)-(3).

(B) (a)-(2), (b)-(3), (c)-(1), (d)-(4).

(D) (a)-(3), (b)-(1), (c)-(4), (d)-(2).

Ans: (B) (a)-(2), (b)-(3), (c)-(1), (d)-(4).

41. For the statement Assertion (Ass) and Reason (R), select the correct answer using the codes given below:

Assertion (Ass): Quartile deviation does not take all items into consideration. .

Reason (R): Quartile deviation is only a positional method, 25% of the items will be situated below Q₁ and 25% of items will be situated will be situated above Q₃.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

42. Read the Assertion (Ass) and Reason (R) and find out the correct answer using the codes given below:

Assertion (Ass): Standard deviation gives more weight to extreme values.

Reason (R): Standard deviation square-up the deviations.

Codes:

(A) Both (Ass) and (R) are correct and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are correct but (R) is not the correct explanation of (Ass).

(D) (Ass) is incorrect but (R) is correct.

Ans: (A) Both (Ass) and (R) are correct and (R) is the correct explanation of (Ass).

43. Examine the following statements and determine whether “True” or “False”, and select the correct combination of answer from the codes given.

(a) For any distribution, the sum of deviations from the arithmetic mean is always zero.

(b) Geometric mean cannot be computed of any one of the item in the distribution is zero.

Codes:

(A) (a) – True, (b) – True, (c) – True.

(B) (a) – False, (b) – False, (c) – False.

(D) (a) – True, (b) – False, (c) – False.

Ans: (C) (a) – True, (b) – True, (c) – False.

44. Match the items of List – I with the items of List – II and select the correct answer using the codes given below:

List-I

List-II

(a) Median.

(b) Percentile.

(d) Quartile.

(i) Divides frequency into two parts.

(ii) Divides frequency into four parts.

(iii) Divides frequency into 10 parts.

(iv) Divides frequency into 100 parts.

Codes:

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

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

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

Ans: (D) (a)-(i), (b)-(iv), (c)-(iii), (d)-(ii).

45. Which of the following is not a restricted random sampling technique?

(A) Stratified sampling.

(B) Simple random sampling.

(D) Multistage sampling.

Ans: (B) Simple random sampling.

46. Karl Pearson’s co-efficient of correlation between two variables is

(A) the product of their standard deviations.

(B) the square root of the product of their regression co-efficient.

(D) None of the above.

Ans: (B) the square root of the product of their regression co-efficient.

47. Sample design involves the following:

1. Sample unit.

2. Size of sample.

3. Type of Universe.

4. Source list.

5. Sample procedure.

Which of the following sequence is correct?

Codes:

(A) 1, 2, 3, 4 and 5.

(B) 3, 4, 1, 2, and 5.

(D) 3, 5, 1, 4 and 2.

Ans: (C) 3, 1, 4, 2 and 5.

48. Examine the statements and select the correct answer code from the codes given below:

Statement I: The absolute value of difference between an unbiased estimate and the corresponding population parameter is called sampling error.

Statement II: Multistage sampling is a restricted non-probability based sampling technique.

(A) Both the Statements are correct.

(B) Both the Statements are incorrect.

(D) Statement II is correct, while Statement I is incorrect.

Ans: (C) Statement I is correct, while Statement II is incorrect.

49. Which of the following tests can be applied to ordinal scale data?

1. Chi-square test.

2. ‘Z’ test.

3. Kruskal-Wallis test.

4. Wilcoxon Mann-Whitney test.

Codes:

(A) 1, 2 and 3.

(B) 2, 4 and 3.

(D) 1, 2 and 4.

Ans: (C) 1, 3 and 4.

50. Which method divides the total frequency into two parts?

(A) Mean.

(B) Mode.

(D) Standard Deviation.

Ans: (C) Median.

51. Following are the two sentences Assertion (Ass) and Reason (R). Find the correct answer from the codes given below:

Assertion (Ass): Management is mainly associated with economics affairs.

Reason (R): Big business houses are the result of effective financial management.

Codes:

(A) (Ass) is correct and (R) is right explanation of (Ass).

(B) Both (Ass) and (R) are correct but (R) is not the right explanation of (Ass).

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

Ans: (C) (Ass) is incorrect but (R) is correct in isolation.

52. Match the items of List – A with the items of List – B and select the correct answer from the codes given below:

List – A

List – B

(a) McGregor.

(b) McClelland.

(D) H. Blancard.

1. Theory X and Y.

2. Expectancy Theory.

3. Situational leadership.

4. Needs Theory.

5. Theory Z.

Codes:

(A) (a)-(1), (b)-(4), (c)-(3), (d)-(5).

(B) (a)-(1), (b)-(4), (c)-(5), (d)-(3).

(D) (a)-(2), (b)-(1), (c)-(3), (d)-(4).

Ans: (B) (a)-(1), (b)-(4), (c)-(5), (d)-(3).

53. In a employee selection process, which of the following is not a popular form of personality test:

(A) Thematic Apperception Test (TAT).

(B) Myer-Briggs Type Indicator (MBIT).

(D) Rorschach Blot Test (RBT).

Ans: (C) Hermann Brain Dominance Instrument (HBDI).

54. Read the following statements carefully and choose the correct answer using the codes given below:

Statement I: High morale lends to high productivity.

Statement II: High morale need not necessarily lend to high productivity.

Codes:

(A) Both are correct.

(B) Both are incorrect.

(D) Statement II is correct, Statement I is incorrect.

Ans: (A) Both are correct.

55. A type of career intervention that deals with psycho-social issues of the employee is known as

(A) Coaching.

(B) Counselling.

(D) Guiding.

Ans: (B) Counselling.

56. A strategy of lowering the price from the actual price to trigger the short term sales is known as:

(A) Promotional pricing.

(B) Short-term pricing.

(D) Cyclical pricing.

Ans: (A) Promotional pricing.

57. Examine whether the following statements are ‘true’ or ‘false’ and select the correct answer code:

Statement I: Measuring performance of employees helps in product innovation.

Statement II: The practice of assigning right job to a candidate is called ‘induction’.

Statement III: White collared worker is some-one who does mental work rather than physical work.

Codes:

(A) (I) – False, (II) – True, (III) – True.

(B) (I) – True, (II) – False, (III) – True.

(D) (I) – False, (II) – False, (III) – True.

Ans: (D) (I) – False, (II) – False, (III) – True.

58. Following are the two sentences Assertion (Ass) and Reason (R). Find the correct answer from the codes given below:

Assertion (Ass): MBO is an effective way of planning and organizing.

Reason (R): Employees participate in setting objectives.

Codes:

(A) Both (Ass) and (R) are true and (R) is correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not a correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (B) Both (Ass) and (R) are true but (R) is not a correct explanation of (Ass).

59. Which of the following is/are the key components of a Business process Re-engineering programme?

(I) Product Development.

(II) Service Delivery.

(III) Customer Satisfaction.

Codes:

(A) I only.

(B) I and II only.

(D) I, II & III.

Ans: (D) I, II & III.

60. Read the following statements, one labelled as Assertion (Ass) and other the Reason (R) and select your answer using the codes below:

Assertion (Ass): Co-operation and coordination are the same concept.

Reason (R): Both are required to achieve the organisational goal.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false but (R) is true.

Ans: (D) (Ass) is false but (R) is true.

61. What is the minimum and maximum limit (in Rupees) prescribed for RTGS transaction?

(A) The minimum prescribed limit is Rs. 1 lac and maximum Rs. 10 lacs.

(B) The minimum prescribed limit is Rs. 25,000 and maximum Rs. 1 lac.

(D) The minimum is Rs. 10 lacs and maximum is Rs. 100 lacs.

Ans: (C) The minimum prescribed limit is Rs. 2 lacs and there is no maximum limit.

62. A draft purchased from a bank is reported lost and the purchaser wants to stop the payment.

Which of the following is correct?

(A) Bank cannot stop payment since it is a Promissory Note.

(B) Bank cannot stop payment since it is covered under negotiable instrument.

(D) Bank can ask the purchaser to suffer for negligence and Bank cannot help.

Ans: (A) Bank cannot stop payment since it is a Promissory Note.

63. Match the items of List – A with that of List – B and select the correct answer using the codes given below:

List – A

List – B

(a) ICICI Bank.

(b) Bank of India.

(D) NABARD.

1. Public Sector Bank.

2. Private Sector Bank.

3. Development Bank.

4. Foreign Bank.

5. Central Bank.

Codes:

(A) (a)-(3), (b)-(5), (c)-(4), (d)-(1).

(B) (a)-(3), (b)-(1), (c)-(4), (d)-(2).

(D) (a)-(2), (b)-(5), (c)-(4), (d)-(3).

Ans: (C) (a)-(2), (b)-(1), (c)-(4), (d)-(3).

64. A cheque drawn for Amit Kumar or Order is stolen. The thief made endorsement as Amit Kumar on the cheque in his favour. The cheque is presented in clearing and paid by the bank. The owner later on sent legal notices to the bank. What is the liability of the bank?

(A) Forgery does not give any right to the bank hence; liable for fraudulent practice.

(B) The paying Bank will get protection under NI Act.

(D) Under section 131, the paying Bank is liable.

Ans: (B) The paying Bank will get protection under NI Act.

65. Read the statements (I, II and III) and examine whether correct or incorrect. Select the correct answer from the codes given:

I: The transactions of a bank account can be viewed through internet banking.

II: Money can be transferred through internet banking.

III: Cash can be withdrawn through internet banking.

Codes:

(A) Only I is correct.

(B) Only II and III are correct.

(D) Only I and II are correct.

Ans: (D) Only I and II are correct.

66. Match List – I with List – II and select the correct answer using the codes given below the lists:

List – I

List – II

(a) Option dealing.

(b) Private placement.

(D) Law of large numbers.

1. Stock exchange.

2. Bond of big companies.

3. New public limited companies.

4. Statistical probability.

Codes:

(A) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(B) (a)-(4), (b)-(2), (c)-(3), (d)-(1).

(D) (a)-(4), (b)-(3), (c)-(2), (d)-(1).

Ans: (C) (a)-(1), (b)-(3), (c)-(2), (d)-(4).

67. Which of the following is not a function of a Rural Bank?

(A) To accept deposit.

(B) To meet the rural financial needs.

(D) To supply inputs to farmers.

Ans: (D) To supply inputs to farmers.

68. Read the statements Assertion (Ass) and Reasoning (R) and select the correct answer from the codes given below:

Assertion (Ass): “Banks globally are facing more challenges now, and Macro sustainability is a necessity but not sufficient for sustainable economic growth”.

Reason (R): “Putting regulations in place is only one part and their implementation is equally important for achieving growth and sustainability”.

Codes:

(A) (Ass) and (R) both are true and (R) is correct explanation of (Ass).

(B) (Ass) and (R) both are true but (R) is not the correct explanation of (Ass).

(D) (Ass) is false and (R) is true.

Ans: (B) (Ass) and (R) both are true but (R) is not the correct explanation of (Ass).

69. Read the following statements and give correct answer using the codes given below:

(I) The Bank’s lien is an implied pledge.

(II) Right of Lien and Right to Set-off can be exercised simultaneously at the same time.

(III) One of the essential requirements of a pledge is the actual or constructive delivery of goods pledged the Pawner to the Pawnee.

(IV) Limitation period for filing a suit for sale of mortgaged property is thirty year from the date of mortgage debt becomes due.

Codes:

(A) (I) – True, (II) – False, (III) – False, (IV) – True.

(B) (I) – True, (II) – False, (III) – True, (IV) – False.

(D) (I) – False, (II) – True, (III) – False, (IV) – True.

Ans: (B) (I) – True, (II) – False, (III) – True, (IV) – False.

70. Crawling Peg System means:

(A) Fixed Exchange Rate System.

(B) Floating Exchange Rate System.

(D) None of the above.

Ans: (C) Hybrid of Fixed and Floating System.

71. For the statements Assertion (Ass) and Reason (R) select the correct answer using the codes given below:

Assertion (Ass): The Electronic Media has strong impact on consumers’ behaviour in India.

Reason (R): Most of the Indian Consumers take their decision with the help of Electronic Media.

Codes:

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

(B) Both (Ass) and (R) are true.

(D) (Ass) is false but (R) is true.

Ans: (A) Both (Ass) and (R) are false.

72. When an international seller sells a plant, equipment or technology to another country and agrees to take payment in form of resulting products, it is called:

(A) barter.

(B) buy-back.

(D) like value exchange.

Ans: (B) buy-back.

73. What does ‘CLC’ stand for?

(A) Continuous Lifetime Customers.

(B) Consumer Loyalty Cycle.

(D) Continuous Learning Cycle.

Ans: (C) Consumer Life Cycle.

74. A distribution channel where the product reaches the end customer through numerous intermediaries in between is known as:

(A) Direct Distribution.

(B) Indirect Distribution.

(D) Exclusive Distribution.

Ans: (B) Indirect Distribution.

75. Sustainable marketing can also be characterised as the third age of

(A) Planned obsolescence.

(B) Green marketing.

(D) Recycling.

Ans: (B) Green marketing.

76. When buyers have too narrow image of the brand, this error is

(A) under positioning.

(B) over positioning.

(D) confused positioning.

Ans: (B) over positioning.

77. Read the Assertion (Ass) and Reason (R) and find the correct answer using codes given below:

Assertion (Ass): Customer is the centre point of marketing concept.

Reason (R): Customer orientation is called as the pillar of marketing concept.

Codes:

(A) Both (Ass) and (R) are true.

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

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

Ans: (A) Both (Ass) and (R) are true.

78. Which of the following order about product life cycle is correct?

(A) Introduction – Maturity – Growth – Decline.

(B) Introduction – Growth – Maturity – Decline.

(D) Growth – Maturity – Decline – Introduction.

Ans: (B) Introduction – Growth – Maturity – Decline.

79. Match the following:

List – I

List – II

(a) Life Style.

(b) Personality.

(D) Switches.

(1) Aggression extraversion.

(2) Income and social group.

(3) Not brand specific.

(4) Influence consumer behaviour in long-run.

Codes:

(A) (a)-(2), (b)-(1), (c)-(4), (d)-(3).

(B) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(D) (a)-(3), (b)-(2), (c)-(4), (d)-(1).

Ans: (A) (a)-(2), (b)-(1), (c)-(4), (d)-(3).

80. Who coined the expression ‘Marketing Mix’?

(A) Henri Fayol.

(B) James Culliton.

(D) Abraham Maslow.

Ans: (B) James Culliton.

81. Read the following statements carefully and choose the correct answer using the codes given below:

Statement I: Trademark is represented graphically.

Statement II: Trademark is capable of distinguishing the goods or services of one person from those of others.

Statement III: Trademark may include shapes of goods or combination of colours.

Codes:

(A) Only Statement I is correct.

(B) Both Statement I and III are correct.

(D) I, II and III are correct.

Ans: (D) I, II and III are correct.

82. An unpaid seller has right to retain the goods until price of the goods is paid. This right is called:

(A) Lien.

(B) Stoppage in transit.

(D) None of the above.

Ans: (A) Lien.

83. Which of the following is an ‘intellectual property’ as per IPR Laws in India?

(A) Original literary work.

(B) Industrial Design of a product.

(D) All of the above.

Ans: (D) All of the above.

84. Which of the following features is not essential for a contract?

(A) It should be in writing only.

(B) Free consent of all the competent parties to the contract.

(D) Lawful object.

Ans: (A) It should be in writing only.

85. The formation and regulation of Limited liability of partners is governed by:

(A) Partnership Act, 1932.

(B) Companies Act, 2013.

(D) Limited liability Partnership Act, 2010.

Ans: (C) Limited liability Partnership Act, 2008.

86. Which of the following is not under the definition of ‘information’ under RTI Act, 2005?

(A) Log books.

(B) Data held in any electronic form.

(D) File Notings.

Ans: (B) Data held in any electronic form.

87. Goods and Service Tax in India is a _______ based tax on consumption of goods and services.

(A) Duration.

(B) Destination.

(D) All of the above.

Ans: (B) Destination.

88. A season article marked “Price Rs. 50” in Rahul’s shop, Harish offers Rahul Rs. 50 for the article. Rahul refuses to sell saying the article is not for sale.

Advice Harish:

(A) Harish cannot force Rahul to sell the article at Rs. 50.

(B) Harish can force Rahul to sell the article at Rs. 50.

(D) Harish can sue Rahul in the court if Rahul denies to sell at the marked price.

Ans: (A) Harish cannot force Rahul to sell the article at Rs. 50.

89. Match the List – I with List – II and find the correct combination using the codes given below:

List – I

List – II

(a) Sale of Goods Act.

(b) Competition Act.

(1) 1872.

(2) 1881.

(3) 1930.

(4) 2002.

Codes:

(A) (a)-(1), (b)-(2), (c)-(3).

(B) (a)-(1), (b)-(3), (c)-(4).

(D) (a)-(3), (b)-(4), (c)-(2).

Ans: (D) (a)-(3), (b)-(4), (c)-(2).

90. Who is competent to make a valid contract?

(A) Major.

(B) Person with sound mind.

(D) All of these.

Ans: (D) All of these.

91. Return of income is submitted under which of the following sections of IT Act:

(A) u/s 136.

(B) u/s 139S.

(D) u/s 143.

Ans: (B) u/s 139S.

92. An art of lodging tax without actually breaking the law is

(A) Tax planning.

(B) Tax evasion.

(D) Tax management.

Ans: (A) Tax planning.

93. A person by whom income tax or any other sum is payable under the income tax is called:

(A) An Assessee.

(B) Person.

(D) All of the above.

Ans: (A) An Assessee.

94. Pension received by the dependent family member of the deceased employee is taxable under the head:

(A) Income from salary.

(B) Income from other sources.

(D) Income from capital gains.

Ans: (B) Income from other sources.

95. Match the items of the List – I with those of List – II and select the correct answer using the codes given below:

List – I

List – II

(a) Residential status of an individual.

(b) Agricultural income.

(D) Gratuity.

(1) Section 10 (13A).

(2) Section 10 (10).

(3) Section 6.

(4) Section 10 (1).

Codes:

(A) (a)-(1), (b)-(3), (c)-(2), (d)-(4).

(B) (a)-(3), (b)-(4), (c)-(1), (d)-(2).

(D) (a)-(4), (b)-(2), (c)-(1), (d)-(3).

Ans: (B) (a)-(3), (b)-(4), (c)-(1), (d)-(2).

96. Long-term capital gain is chargeable @ _______ for the Assessment year 2018-19:

(A) 10%.

(B) 15%.

(D) 30%.

Ans: (C) 20%.

97. Section 5 of the Income Tax Act, 1961 deals with:

(A) Residential Status of the assessee.

(B) Agricultural Income.

(D) Perquisites.

Ans: (C) Scope of the total income.

98. Read the Assertion (Ass) and Reason (R) carefully and select the correct answer from the codes given below:

Assertion (Ass): When a person reduce his total income by making false claims to reduce its tax liability.

Reason (R): Tax evasion is illegal in India and may result to penalty and prosecution.

Codes:

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

(B) (Ass) is correct but (R) is incorrect.

(D) (Ass) is incorrect but (R) is correct.

Ans: (A) Both (Ass) and (R) are correct.

99. Examine whether the following statements are ‘true’ or ‘false’ and select the correct answer from the codes given:

I: Assessee is always a person but a person may or may not be an assessee.

II: A person may not have assessable income but may still be an assessee.

III: Assessment year and previous year cannot be same financial year.

Codes:

(A) I – True, II – True, III – True.

(B) I – True, II – True, III – False.

(D) I – False, II – True, III – False.

Ans: (B) I – True, II – True, III – False.

100. The rate of tax that is leviable on short-term Capital Gains arising from transfer of equity shares of a company is _______ for the Assessment year 2018-19.

(A) 10%.

(B) 15%.

(D) 30%.

Ans: (B) 15%.

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