WB Set Commerce Paper III Solved January 2017 (Subject Code: 06)

West Bengal SET Solved Question Paper

WB Set Commerce Paper III January 2017 (Subject Code: 06)

1. Ind AS-113 deals with

(A) Fair Value Measurement.

(B) Consolidated Financial Statements.

(C) Operating Segments.

(D) Impairment of Assets.


2. Match the Items of List-I with List-II



(a) Share Based Payments.

(b) Business Combinations.

(c) Insurance Contracts.

(d) Operating Segments.

(1) Ind AS-108.

(2) Ind AS-104.

(3) Ind AS-103.

(4) Ind AS-102.


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

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

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

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


3. Sale of securities after the trading hours of the stock exchange is known as

(A) Stop loss.

(B) Kerb dealing.

(C) Profit taking.

(D) Short selling.


4. Which of the following is not an Accounting Concept?

(A) Matching Concept.

(B) Dual Aspect Concept.

(C) True and Fair Concept.

(D) Going Concern Concept.


5. If a company sells its receivable to another party to raise funds, it is known as

(A) Securitization.

(B) Factoring.

(C) Pledging.

(D) Hedging.


6. Primary Market in India is regulated by

(A) Reserve Bank of India.

(B) Securities and Exchange Board of India.

(C) Ministry of Finance.

(D) Forward Market Commission.


7. The first screen based nationwide stock exchange in India was

(A) NSE.


(C) BSE.

(D) MCX.


8. If the expected return on market portfolio is 20%, beta of portfolio is 1.175 and the risk free rate is 10%, the expected return on the above portfolio is equal to

(A) 24%.

(B) 29%.

(C) 21.75%.

(D) 12.75%.


9. Which of the following is a case of ‘Spin-off’?

(A) Assets sold in the market.

(B) A division converted into a company.

(C) Assets transferred to lenders.

(D) Assets purchased by the company.


10. Long term non-concellable lease agreement is called _________.

(A) Operating lease.

(B) Finance lease.

(C) Sale and lease back.

(D) Leveraged lease.


11. Who is not a Speculator in the Stock Exchange among the following?

(A) Stag.

(B) Bull.

(C) Bear.

(D) Broker


12. Match the Types of Mutual Funds in List-I with their respective features in List-II and find the correct answer using the codes given below the Lists:

List-I (Types of Mutual Funds)

List-II (Features)

(a) Open-ended Fund.

(b) Income Fund.

(c) Close-ended Fund.

(d) Growth Fund.

(1) Maximises short tern return to investors.

(2) Can sell unlimited number of units.

(3) The units are not redeemable at their NAV.

(4) Maximise long term return to investors.


 (a)-(3) (b)-(4) (c)-(2) (d)-(1).

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

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

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


13. Match between List-I and List-II to find the correct combination using the codes given below the Lists:



(a) Bull.

(b) Bear.

(c) Lame duck.

(d) Stag.

(1) Agrees to sell on a fixed date but finds it difficult to meet his commitment.

(2) Buys the shares to sell them in future expecting a price rise.

(3) Neither buys nor sell but merely applies for shares to sell at a Premium.

(4) Agrees to sell on a fixed date expecting a fall in price.


 (A) (a)-(2) (b)-(1) (c)-(3) (d)-(4).

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

(C) (a)-(2) (b)-(4) (c)-(1) (d)-(3)

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


14. Contago charge is paid by a

(A) Bull Speculator to Bear Speculator.

(B) Bear Speculator to Bull Speculator.

(C) Stag Speculator.

(D) Lame Duck to Bear.


15. National Security Depository Limited (NSDL) was set up to overcome the problems of

(a) Delay in transfer of securities.

(b) Bad deliveries on account of forged or fake certificates.

(c) Delay in receipts of securities/refund to non-allottees.

(d) Inadequate infrastructure to handle a large volume of applications and store share certificates.


(A) (a) and (b) are correct

(B) (c) and (d) are correct

(C) (a), (b), (c) and (d) are correct

(D) (a), (b), (c) and (d) are incorrect


16. Marketers will sell anti-dandruff shampoo targeting consumers in

(A) Buyer behaviour segment.

(B) Benefit segment.

(C) Demographic segment.

(D) Psychographic segment.


17. Getting a membership of the Cricket Association of Bengal is an example of Individual buying behaviour driven by

(A) Social needs.

(B) Self-actualisation needs.

(C) Self-esteem needs.

(D) Physiological needs.


18. If a company uses its company name for its entire range of product offered, then it is called

(A) Private branding.

(B) Corporate branding.

(C) Product-line branding.

(D) Individual branding.


19. Which of the following is not included in 7Ps of the marketing mix of a service product?

(A) Process.

(B) People.

(C) Public relation.

(D) Price.


20. The concept of Marketing Myopia was propounded by

(A) Philip Kotler.

(B) C. K. Prahlad.

(C) Peter Drucker.

(D) Theodore Levitt.


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21. ‘Everything social is societal, but everything societal is not social’.

(A) The above statement is true.

(B) The above statement is false.

(C) The above statement is partially true.

(D) The above statement is irrelevant.


22. Segmenting Markets on the basis of Income, Age, Gender is

(A) Psychographic segmentation

(B) Benefit segmentation

(C) Demographic segmentation

(D) Buyer-behaviour segmentation


23. E-word of mouth communication in modern marketing spreads through

(A) Print Media.

(B) Broadcast Media.

(C) Billboards.

(D) Social Media.


24. Who coined the term 4P?

(A) Philip Kotler.

(B) Peter Drucker.

(C) Jerome McCarthy.

(D) Renesis Likert.


25. At which stage of the new product development, the launching of new product will take place?

(A) Business analysis.

(B) Test marketing.

(C) Commercialisation.

(D) Idea generation.


26. One of the following are the medium of communicating through social media

(A) Times of India.

(B) India Today.

(C) Facebook.



27. Buying an apartment by an individual will be an example of

(A) Habitual buying behaviour.

(B) Variety seeking buying behaviour.

(C) Complex buying behaviour.

(D) Dissonance reducing buying behaviour.


28. Which of the following is not part of distribution channel?

(A) Retailer.

(B) Distribution agent.

(C) Warehouse.

(D) Advertising agency.


29. Cost always determines the price of a product in modern marketing.

(A) The above statement is True.

(B) The above statement is False.

(C) The above statement is partially true.

(D) The above statement is irrelevant.


30. Marketers offer products in various packaging size in order to target

(A) Demographic market segment.

(B) Buyer behaviour market segment.

(C) Benefit market segment.

(D) Psychographic market segment.


31. Which of the following term is used as an indicator of missing information by the applicant while making selection decision?

(A) Red flag.

(B) Red alert.

(C) High alert.

(D) Alarming situation.


32. The 360° appraisal

(A) Works best in large organisation.

(B) Provides feedback from a variety of individuals.

(C) Aids in developing competitive intelligence.

(D) Diminishes the effect of development in the appraisal problems.


33. A process that significantly affects organisational success by having managers and employee work together to set expectations, review results and reward performance.

(A) MBO.

(B) Performance Appraisal.

(C) Performance Management.

(D) Organisational Planning.


34. A method of appraisal where the evaluator uses a list of behavioural descriptions and checks off those behaviours that apply to the employee is called

(A) Forced Choice appraisal.

(B) Forced Distribution appraisal.

(C) Checklist appraisal.

(D) Behavioural Anchored rating scale.


35. Any compensation method that ties pay to the quantity and quality of work the person produces is called

(A) Gain sharing plan.

(B) Incentive plan.

(C) Compensation plan.

(D) Pay for performance plan.


36. ___________ is the process whereby union members vote out their union as their representative.

(A) Authorisation card.

(B) Representation certification.

(C) Representation decertification.

(D) Trade union election.


37. Protection from discrimination, safe working conditions and union formulation are _________ rights provided to employees.

(A) Contractual.

(B) Statutory.

(C) Organizational.

(D) Individual.


38. Which of the following term contains information regarding machines and equipment used at workplace?

(A) Job analysis.

(B) Job evaluation.

(C) Job description.

(D) Job specification.


39. Reactive approach to overcome the influence of discriminating practices occurred in the past is referred as

(A) Equal employment opportunity.

(B) Affirmative action.

(C) HR Planning.

(D) Litigation process.


40. The point method to evaluate Job is an extension of

(A) Ranking method.

(B) Factor comparison method.

(C) Classification method.

(D) Point factor method.


41. One of the major barriers to carrier advancement experienced by working ladies is

(A) difficulty in balancing work and family life.

(B) top management is usually male oriented.

(C) lack of educational opportunities.

(D) common perception that women cannot be better superior.


42. Position Analysis Questionnaire(PAQ) for Job analysis is

(A) Quantitative technique.

(B) Qualitative technique.

(C) Partly quantitative and partly qualitative.

(D) Based on physical movements or posture.


43. Re-designing a business process for more efficient and effective results is called

(A) Redesigning jobs of workers.

(B) Assigning additional activities to workers.

(C) Moving workers from one job to other.

(D) Reengineering.


44. Specific procedure according to which ‘employees of company has legal rights to take part in policy designing’ is classified as

(A) Sub-determination.

(B) Sub-ordination.

(C) Co-ordination.

(D) Co-determination.


45. An equal rating of all employees such as ‘good’ is called

(A) Lenient tendency.

(B) Strict tendency.

(C) Biasing tendency.

(D) Central tendency.


46. With which among the following countries India has not signed a bilateral Comprehensive Economic Cooperation Agreement (CECA)?

(A) Japan.

(B) Malayasia.

(C) Singapore.

(D) South Africa.


47. Both FDI and FII are related to investment in a country. Which one of the following statements best represents an important difference between the two?

(A) FII is considered to be more stable than FDI.

(B) FDI flows only into the secondary market, while FII targets primary market.

(C) FII helps bring better management skill and technology, while FDI only brings in capital.

(D) FII helps in increasing capital availability in general, while FDI only targets specific sector.


48. Corporate and financial institutions use derivatives to protect themselves against changes in

(A) interest rates.

(B) exchange rates.

(C) raw material prices.

(D) All (A), (B) and (C).


49. The difference between visible exports and visible imports is defined as

(A) Balanced terms of trade.

(B) Balance of trade.

(C) Gains from trade.

(D) Balance of payment.


50. In the context of which of the following do you sometimes find the terms ‘amber box’, ‘blue box’ and ‘green box’ in the news?

(A) SAARC affairs.

(B) WTO affairs.

(C) UNFCL affairs.

(D) Indian EU agreements on FTA.


51. Capital Account Convertibility of Indian rupee implies

(A) That Indian rupee can be exchanged by the authorised dealers for travel.

(B) That the Indian rupee can be exchanged for any major currency for the purpose of trade in goods and services.

(C) That the Indian rupee can be exchanged for any major currency for the purpose of trading financial assets.

(D) All (A), (B) and (C).


52. Which of the following Japanese Steel Corporations has entered into a strategic alliance with SAIL?

(A) Nippon Steel.

(B) Kobe.

(C) JFE.

(D) Sumitomo Corp.


53. In terms of economy, the visits by foreign nationals to witness the XIX Commonwealth Games in India amounts to

(A) Consumption.

(B) Import.

(C) Production.

(D) Export.


54. The document issued by the shipping company in exports is called

(A) Airway Bill.

(B) Commercial Invoice.

(C) Bill of Lading.

(D) Letter of Credit.


55. ADRs are

(A) Stocks issued directly by foreign corporations, but traded in US Stock Exchanges.

(B) Bonds issued by US Government on behalf of foreign government.

(C) Receipts for actual foreign stocks deposited in US Banks that are traded on a US Stock Exchange such as New York Stock Exchange or NASDAQ.

(D) Illegal but still often used by Americans seeking to hide money overseas.


56. Which of the following is/are treated as artificial currency?

(A) ADR.

(B) GDR.

(C) SDR.

(D) Both ADR and SDR.


57. eBay is a type of

(A) Dragon TNC.

(B) Latecomer TNC.

(C) Born global TNC.

(D) Micro TNC.


58. Which company was the first multinational corporation in the world and the first company to issue stock?

(A) General Motors.

(B) English East India Company.

(C) Dutch East India Company.

(D) IBM.


59. Which of the following is not a member of SAARC?

(A) Mauritius.

(B) Afghanistan.

(C) Nepal.

(D) The Maldives.


60. The right to sell a stated number of units of the underlying foreign currency at a specific price per unit during a specific period of time is known as a

(A) Swap.

(B) Call option.

(C) Forward.

(D) Put option.


61. Belated Return can be submitted within

(A) Two years from the end of the Previous year.

(B) One year from the end of the Previous year.

(C) Two years from the end of the Assessment year.

(D) Three years from the end of the Assessment year.


62. Additional depreciation is available on

(A) Old plant and machinery.

(B) New building.

(C) New office appliances.

(D) None of the assets mentioned above.


63. Cost of acquisition on transfer of gifted capital asset is

(A) Nil.

(B) Fair market value on 01.04.1981.

(C) Fair market value on the date of making the gift.

(D) Cost to the previous owner.


64. If loss return is not submitted

(A) Subsequent year’s return cannot be submitted.

(B) Penal interest is charged on the business.

(C) Certain losses cannot be carried forward.

(D) Tax is levied on the basis of immediately past assessment year’s income.


65. Bonus shares issued by a company to its preference shareholder is

(A) Illegal.

(B) Treated as income of the equity shareholders.

(C) Treated as dividend income of the preference shareholders.

(D) Treated as exempted income of the preference shareholders.


66. Taxability of income depends on

(A) Citizenship of the assessee.

(B) Residential status and citizenship of the assessee.

(C) Neither on residential status nor on citizenship of the assessee.

(D) Only on residential status of the assessee.


67. Income from house transferred for adequate consideration, by one spouse to another is assessable in the hands of

(A) Transferee spouse.

(B) Both the transferor and transferee spouse jointly.

(C) Only the transferor spouse.

(D) Neither the transferor nor the transferee Spouse.


68. Income from house A (before deduction of interest on borrowings Rs. 5,00,000) is Rs. 3,00,000. Income from House Property is

(A) Rs. 5,00,000.

(B) Rs. (–) 2,00,000.

(C) Rs. 3,00,000.

(D) Nil.


69. Income from non-speculative business is Rs. 7,00,000. Income from speculative business is Rs. (–) 3,00,000. Income under the head ‘Profits and gains of business or profession’ is

(A) Rs. 7,00,000.

(B) Rs. (–) 3,00,000.

(C) Rs. 4,00,000.

(D) Rs. 10,00,000.


70. Income from non-speculative business A is Rs. (–) 7,00,000. Income from non-speculative business B is    Rs. 3,00,000. The assessee has no speculative business income. Assessee’s income by way of interest from Bank Fixed Deposit is Rs. 50,000. The assessee’s income under the head ‘Profits and gains from business or profession’ is

(A) Rs. (–) 7,00,000.

(B) Rs. 3,00,000.

(C) Rs. (–) 4,00,000.

(D) Rs. 3,50,000.


71. Income from asset transferred in the absence of consideration to son’s wife is assessable in the hands of

(A) Son’s wife.

(B) Both transferor and the son’s wife jointly.

(C) The transferor.

(D) Neither the transferor nor the son’s wife.


72. Income of minor, arising from minor’s personal skill, is assessable in the hands of

(A) Minor’s father.

(B) Minor’s mother.

(C) Minor.

(D) Minor’s father or mother whose income is Higher.


73. Capital Asset does not include

(A) Land.

(B) Building.

(C) Stock-in-trade.

(D) Shares.


74. Cost of acquisition of bonus shares issued before 01.04.1981 is

(A) Cost of original shares.

(B) Fair market value on 01.04.1981.

(C) Fair market value on the date of issuing bonus shares.

(D) Nil.


75. Gains arising from transfer of shares is treated as long term capital gain, if the shares are held by the transferor

(A) for more than 36 months.

(B) for more than 48 months.

(C) for more than 12 months.

(D) for less than 10 months.



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