West Bengal SET Solved Question Paper
WB Set Commerce Paper II Solved January 2015 (Subject Code: 06)
1. Macro environmental factor is
(A) Suppliers.
(B) Customer.
(C) Labour.
(D) Economic system.
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2. Feature of socialism is
(A) freedom of enterprise.
(B) competition.
(C) equitable distribution of income.
(D) private ownership.
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3. Article 14 of Indian Constitution is related with
(A) Right to equality.
(B) Right to freedom.
(C) Right against exploitation.
(D) Cultural and educational rights.
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4. Which of the following is not a fundamental right in India?
(A) Right to equality.
(B) Right to freedom.
(C) Right to property.
(D) Right to constitution remedies.
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5. Air (Prevention and Control of Pollution) Act was passed in
(A) 1974.
(B) 1981.
(C) 1986.
(D) 1992.
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6. If the population size is 4 and the sample size is 2, the total number of possible samples in SRSWR will be
(A) 6.
(B) 8.
(C) 16.
(D) 32.
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7. The probability density function of a normal variate is given by
(A) 2.
(B) 4.
(C) 3.
(D) 9.
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8. If the angle between two regression lines is 90°, then co-efficient of correlation between the two variables will be
(A) +1.
(B) –1.
(C) 0.
(D) 0·5.
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9. In testing hypothesis type I error arises when
(A) We reject a true null hypothesis.
(B) We accept a true null hypothesis.
(C) We reject a false null hypothesis.
(D) We accept a false null hypothesis.
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10. Which one of the following sampling does not belong to the probabilistic sampling?
(A) Simple random sampling.
(B) Stratified sampling.
(C) Purposive sampling.
(D) Multi-stage sampling.
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11. If the sign of the cross price elasticity of demand for two commodities A and B is negative, two commodities A and B will be
(A) Independent.
(B) Complimentary.
(C) Substitutes.
(D) A inferior and B Giffen.
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12. The price of diamond is very high while that of water is very low because
(A) Diamond is scarce.
(B) Water is plentiful.
(C) Diamond is used by very rich persons while water is used by all persons.
(D) The marginal utility of diamond is greater than that of water.
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13. The essential condition for making price discrimination profitable is
(A) the sellers of both markets should know the behaviour of the buyers.
(B) both markets are not easily accessible.
(C) both markets should sell differentiated products.
(D) elasticity of demand for the product should be different in the two markets.
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14. For the determination of the marginal cost of a firm, — cost has no role to play
(A) Fixed cost.
(B) Variable cost.
(C) Real cost.
(D) Money cost.
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15. The existence of a break on the marginal revenue curve corresponding to the kirked demand curve model of oligopoly is explained by
(A) Prices.
(B) Costs.
(C) Advertisements.
(D) Elasticities.
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16. ‘Closing stock is to be valued at cost or market price whichever is lower’ is an example of application
(A) Doctrine of Conservatism.
(B) Matching Concept.
(C) Double Entry Principle.
(D) Materiality Concept.
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17. A and B share profit equally in a partnership firm. C is admitted for the share and the new profit sharing ratio was fixed at 5: 3: 2 among A, B and C respectively. C brings in Rs. 5,000 as premium for goodwill. The premium would be shared by
(A) A and B equally.
(B) A and B in the ratio of 5: 3.
(C) The whole amount would be shared only by B.
(D) A, B and C in the ratio of 5: 3: 2.
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18. Profit on re-issue of forfeited shares is transferred to
(A) Profit and loss Account.
(B) Share Capital Account.
(C) Capital Reserve Account.
(D) Reserve Capital Account.
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19. Current ratio of a Company is 2: 1 and Working Capital is Rs. 1,00,000. Current Assets of the Company is
(A) Rs. 2,00,000.
(B) Rs. 1,00,000.
(C) Rs. 3,00,000.
(D) Rs. 66,667.
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20. When a Company operates at a Break-even point, then its contribution is equal to
(A) Net Profit.
(B) Fixed Cost.
(C) Variable Cost.
(D) Net Profit + Fixed Cost.
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21. Which one of the following is the oldest form of organization?
(A) Functional Organization.
(B) Line Organization.
(C) Line and Staff Organization.
(D) Departmentation.
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22. Which of the following is not criticism of neoclassical theory of management?
(A) Bureaucratic behaviour.
(B) Certain assumptions are not true.
(C) Limited application.
(D) Lack of unified approach.
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23. Which one of the following is not a key characteristic of classical organization?
(A) Division of labour.
(B) Span of control.
(C) Management by objectives.
(D) Functional process.
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24. M.B.O. is a technique which requires that the objectives of the enterprise
(A) be written and defined in broad terms.
(B) lay down the time period for achieving the results.
(C) include a plan for achieving the desired result.
(D) be defined in terms of measurable results.
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25. The modern theory is also called the
(A) System analysis of Organisation.
(B) Human Relations Theory.
(C) Mechanistic Theory.
(D) Structural Theory.
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26. A group of closely related products manufactured by the same manufacturer is called
(A) Product item.
(B) Product line.
(C) Product mix.
(D) Production capacity.
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27. Following is not a cost-based pricing
(A) Cost plus pricing.
(B) Marginal pricing.
(C) Break-even pricing.
(D) Leader pricing.
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28. Characteristic of advertising is
(A) Personal communication.
(B) Non-paid.
(C) Personal presentation.
(D) Identified sponsor.
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29. Comparison of the standards with the actual is called
(A) Marketing audit.
(B) Credit control.
(C) Market share analysis.
(D) Variance analysis.
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30. “Consumers will favour those products that offer most quality performance”. It is
(A) Production concept.
(B) Product concept.
(C) Selling concept.
(D) Societal marketing concept.
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31. The following action is found to increase total risk of a company
(A) issuing further equity shares in a public issue.
(B) issuing further debentures in a public issue.
(C) transferring more amount of profit earned to reserve.
(D) selling an old machine which was being used in the business.
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32. Margin of safety is in the following way related to degree of operating leverage
(A) Reciprocal.
(B) Equal.
(C) Square.
(D) Bank overdraft.
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33. The following theory does not explain the relationship between dividend policy and market value of the firm
(A) Gordon theory.
(B) M-M theory.
(C) Walter theory.
(D) Black Scholes theory.
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34. Cost of capital of the following source is implicit
(A) Equity share.
(B) Reserve.
(C) Preference share.
(D) Debenture.
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35. The following cannot be a factor for causing business risk
(A) change in demand.
(B) existence of fixed cost in cost structure.
(C) composition of asset structure.
(D) composition of capital structure.
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36. HRM is an amalgam of
(A) Job analysis, recruitment and selection.
(B) Social behaviour and business ethics.
(C) Organizational behaviour, personal management and industrial relation.
(D) Employer and employees.
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37. An interview conducted at the time of an employee leaving the organisation is called
(A) Exit interview.
(B) Feedback interview.
(C) Convincing interview.
(D) Directed interview.
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38. Which one of the following purpose is not served by performance evolution?
(A) Decisions about promotions, transfers and terminations.
(B) Centrelization and decentralization of decision making authority.
(C) Identification of training and development needs.
(D) Criterion against which selection and development programmes are validated.
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39. The purpose of job evaluation is
(A) Training.
(B) Promotion.
(C) Wage fixation.
(D) Transfer.
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40. Induction means
(A) Training.
(B) Orientation.
(C) Introducing the employee.
(D) Certification.
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41. The following is generally the sponsor institution of a RRB
(A) RBI.
(B) Nationalized bank.
(C) Union Ministry of Rural Development.
(D) State Finance Corporation.
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42. The following micro finance institution in India got the nod from the government to start commercial banking very recently
(A) IDBI Bank.
(B) IndusInd Bank.
(C) Bandhan Bank.
(D) Yes Bank.
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43. The number of times the famous Banking Sector Reforms Committee in India under the chairmanship of Narasimham submitted its report is
(A) One.
(B) Two.
(C) Three.
(D) Four.
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44. The following Indian bank has the highest number of overseas branches
(A) State Bank of India.
(B) Bank of Baroda.
(C) Indian Overseas Bank.
(D) Axis Bank.
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45. OTP in internet banking stands for
(A) Only True Password.
(B) One Time Password.
(C) One Term Password.
(D) One Terminal Password.
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46. ________ is called “Rich countries’ Club”.
(A) IMF.
(B) World Bank.
(C) ADB.
(D) WTO.
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47. The WTO is ________ to the GATT.
(A) Superior.
(B) Inferior.
(C) Successor.
(D) Predecessor.
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48. Assertion (A) : A fixed exchange rate protects only the payer.
Reason (R) : Due to fixed exchange rate, a payer is not exposed to an additional risk.
(A) Both (A) and (R) are true and (R) is correct explanation of (A).
(B) Both (A) and (R) are true but (R) is not correct explanation of (A).
(C) (A) is true but (R) is false.
(D) (A) is false but (R) is true.
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49. Indian rupee was last devalued in
(A) 1991.
(B) 1995.
(C) 1999.
(D) 2001.
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50. Assertion (A): I n t e r n a t i o n a l F i n a n c e Corporation (IFC) promotes sustainable public sector investment in developing nations.
Reason (R): IFC helps to reduce poverty and improve standard of living.
(A) Both (A) and (R) are true and (R) is correct explanation of (A).
(B) Both (A) and (R) are true but (R) is not correct explanation of (A).
(C) (A) is true but (R) is false.
(D) (A) is false but (R) is true.
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