University Grants Commission answer key of Commerce last year question papers

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1. Who is the fiscal agent and advisor to
Government in monetary and
financial matters ?
(A) NABARD
(B) SBI
(C) RBI
(D) None of the above
2. Match the items of List – I with the
items of List – II :
List – I List – II
(a) National
Manufacturing
Competitiveness
Council
(NMCC)
(i) Industrial
Licensing
Policy
(b) National
Investment
Fund (NIP)
(ii) Eleventh Five
Year Plan
(c) The
Industries
(Development
and
Regulation)
Act (IDRA),
1951
(iii) The
Competition
Act, 2002
(d) Increase in
Employment
(iv) Public Sector
Undertakings
Codes :
(a) (b) (c) (d)
(A) (iv) (i) (ii) (iii)
(B) (iii) (iv) (i) (ii)
(C) (i) (ii) (iii) (iv)
(D) (iv) (iii) (ii) (i)
3. Kyoto Protocol pertains to
(A) Capital formulation
(B) Globalisation
(C) Environmental protection
(D) Unemployment reduction
4. Uruguay Round pertains to
(A) WTO
(B) IMF
(C) GATT
(D) World Bank
5. Which of the following are outside
the scope of the Consumer Protection
Act, 1986 ?
(A) Newspaper industry
(B) Services provided under
contract of personal service
(C) Banking industry
(D) Both (A) and (B)
6. Which of the following is ‘true’
regarding the Prudence Principle of
Accounting ?
(A) Taking care of the future losses
(B) Taking care of the future
profits
(C) Taking care of bad debts
(D) Taking care of inventory and
depreciation
7. Which of the following is a nonoperating
expense ?
(A) Salary of Managing Director
(B) Depreciation
(C) Advertisement expenditure
(D) Interest on loan



8. A and B are partners sharing profits
in the ratio of 3 : 2. Their books
showed goodwill at ` 3,000. C is
admitted with
14
th share of profits and
brings ` 10,000 as his capital. But he
is not able to bring in cash for his
share of goodwill ` 3,000. How will
you treat this ?
(A) Goodwill is raised by ` 12,000
(B) C will remain as debtor for
` 3,000
(C) C’s A/c. is debited for ` 3,000
(D) Goodwill is raised by ` 9,000
9. If there is mutual indebtedness
between the transferor company and
the transferee company in business
combination, which of the following
is correct ?
(A) No adjustment is required in
the books of the transferor
company.
(B) Adjustment is required in the
books of the transferor
company.
(C) No adjustment is required in
the books of the transferee
company.
(D) None of the above
10. Improvement of profit-volume ratio
can be done by
(A) Increasing selling price
(B) Altering sales mixture
(C) Reducing variable cost
(D) All of the above
11. Business Economics is a subject which
(A) studies economic relationships
(B) studies economic activities at
the aggregate level
(C) deals with the tools of
economics used for decision
making in business
(D) studies optimum allocation of
limited resources
12. Match List – I with List – II and
select the correct code for the answer :
List – I List – II
(a) Cross
elasticity is
zero
(i) Price = AVC
(b) Shut-down
point
(ii) Two
commodities
are
independent
(c) Slutsky
theorem
(iii) Transformation
line
(d) Production
Possibility
Curve
(iv) Substitution
effect
Codes :
(a) (b) (c) (d)
(A) (ii) (iv) (i) (iii)
(B) (iii) (ii) (iv) (i)
(C) (i) (iii) (ii) (iv)
(D) (ii) (i) (iv) (iii)
13. Assertion (A) : The demand curve
has negative slope showing
inverse relationship between
price and the quantity
demanded.
Reason (R) : This applies only to
Giffen goods.
Codes :
(A) Both (A) and (R) are true.
(B) (A) is true, but (R) is false.
(C) (A) is false, but (R) is true.
(D) Both (A) and (R) are false.
14. The consumer is said to be in
equilibrium when he plans his
expenditure on x, y and z
commodities in such a way that he
ultimately attains :
(A) MUx = MUy = Mz
(B)
MUx
Px
=
MUy
Py
=
MUz
Pz
(C)
MUx
Px
=
MUy
Py
=
MUz
Pz
= MUm
(D)
MUx
Px
<
MUy
Py
<
MUz
Pz
< MUm

15. Match the items in List – I with those
in List – II and select the correct code
for the answer :
List – I List – II
(a) Monopoly (i) Price Taker
(b) Monopolistic
competition
(ii) Homo- geneous
product’s
price maker
(c) Perfect
competition
(iii) Hetero- geneous
product
(d) Oligopoly (iv) Price
Rigidity
Codes :
(a) (b) (c) (d)
(A) (ii) (iii) (i) (iv)
(B) (i) (ii) (iv) (iii)
(C) (iii) (iv) (ii) (i)
(D) (iv) (i) (iii) (ii)
16. Match the following items in List – I
with most suitable options in List – II :
List – I List – II
(a) Fisher (i) Inverse
probability
(b) Karl Pearson (ii) Normal
Distribution
(c) Thomas
Baye’s
(iii) Correlation
Coefficient
(d) Karl Gauss (iv) Index
Numbers
Codes :
(a) (b) (c) (d)
(A) (iv) (iii) (ii) (i)
(B) (iv) (iii) (i) (ii)
(C) (iv) (ii) (iii) (i)
(D) (iv) (ii) (i) (iii)
17. The law of statistics, which says
‘Moderately large number of items
chosen at random from a large group
possess the characteristics of the
large group’, is referred to as :
(A) The Central Limit Theorem
(B) The Law of Statistical Regularity
(C) The Law of Inertia of Large
Numbers
(D) None of the above
18. A distribution, where the value of
arithmetic mean is maximum as
compared to median and mode, is
(A) Normal distribution
(B) Positively-skewed distribution
(C) Negatively-skewed distribution
(D) None of these
19. The most appropriate average to be
used to compute the average rate of
growth in population is
(A) Arithmetic mean
(B) Median
(C) Geometric mean
(D) Harmonic mean
20. “The life expectancy of people in
Kerala is more than that of Tamil
Nadu.” This statement is an example of
(A) Descriptive Hypothesis
(B) Causal Hypothesis
(C) Correlational Hypothesis
(D) None of the above
21. Match the items of List – I with the
items of List – II and choose the
correct answer :
List – I List – II
(a) Intrapersonal
communication
(i) Information
sharing
(b) Element of a
communication
event
(ii) Development
of
‘will’ to
work
(c) Objective of
organisational
communication
(iii) Thinking
(d) Goals of
organisational
communication
(iv) Purpose
Codes :
(a) (b) (c) (d)
(A) (i) (ii) (iii) (iv)
(B) (iii) (iv) (ii) (i)
(C) (ii) (iii) (i) (iv)
(D) (iv) (iii) (ii) (i)
22. According to the Boston Consulting
Group, a business which has a high
growth rate but a weak market share
is referred to as a
(A) Cash Cow
(B) Dog
(C) Question Mark
(D) Star
23. ‘No ideas are ever criticized’ and ‘the
more radical the ideas are the better’
– are the rules of which decision
making process ?
(A) Programmed decision-making
(B) Non-programmed decision
making
(C) Brainstorming
(D) Group discussion
24. According to McClelland’s Needs
Theory, which of the following is not
a motivating need ?
(A) Need for Power
(B) Need for Security
(C) Need for Achievement
(D) Need for Affiliation
25. In the managerial grid, developed by
Blake and Mouton, a manager who
has high consideration for production
but little concern for people is known
as
(A) 1.1 Management
(B) 1.9 Management
(C) 9.1 Management
(D) 5.5 Management
26. Which of the following is not the
major component of holistic
marketing ?
(A) Relationship marketing
(B) Integrated marketing
(C) Customer satisfaction
(D) Socially-responsible marketing
27. Which of the legislations listed
below do not form part of the
marketing environment of India ?
(A) The Drugs and Cosmetics Act,
1940
(B) The Prevention of Food and
Adulteration Act, 1954
(C) The Monopolies and
Restrictive Trade Practices Act,
1969
(D) Both (B) and (C)
28. The set of all actual and potential
buyers of a product is known as
(A) Customer group
(B) Industry
(C) Market
(D) None of the above
29. In the model of consumer behaviour
given by Philip Kotler, what
constitutes the marketing stimuli ?
(A) Marketing environment
(B) Four P’s of marketing
(C) Consumer needs and wants
(D) None of the above
30. The factor that exerts the broadest
and deepest influence on consumer
behaviour is
(A) Culture
(B) Sub-culture
(C) Social class
(D) Income


31. Which one of the following is not
among the assumptions of the
Modigliani-Miller model ?
(A) Perfect capital market
(B) Equivalent risk classes
(C) Unity for dividend payout ratio
(D) Absence of taxes
32. The most suitable coverage ratio for
deciding the debt capacity of a firm
is
(A) Interest Coverage Ratio
(B) Cash Flow Coverage Ratio
(C) Debt Service Coverage Ratio
(D) Fixed Assets Coverage Ratio
33. Which one of the following is the
most popular method for estimating
the cost of equity ?
(A) Capital asset pricing model
(B) Dividend yield method
(C) Gordon’s dividend discount
model
(D) Earnings yield method
34. Which one of the following is not the
internal factor affecting the weighted
average cost of capital of a firm ?
(A) Investment policy of the firm
(B) Capital structure of the firm
(C) Dividend policy followed
(D) Market risk premium for the
firm
35. Most common approach for analysing
the capital structure of a firm is
(A) Ratio Analysis
(B) Cash Flow Analysis
(C) Comparative Analysis
(D) Leverage Analysis
36. Who propounded “Theory Z” ?
(A) William Ouchi
(B) Peter F. Drucker
(C) Joseph H. Jurau
(D) Douglas McGregor
37. Another name for MATRIX
organisation is
(A) Flexible organisation
(B) Geographic organisation
(C) Project organisation
(D) None of the above
38. Which of the following are methods
of on-the-job training ?
(i) Coaching
(ii) Vestibule training
(iii) Demonstration
(iv) Role-playing
(v) Apprenticeship training
Select the right answer from the
following codes :
(A) (i), (ii), (iii), (iv)
(B) (i), (iii), (v)
(C) (ii), (iii), (iv)
(D) (i), (ii), (iii), (iv), (v)
39. The idea that a manager tends to be
promoted to the level of his
incompetence is referred to as
(A) The advancement principle
(B) The Parkinson’s law
(C) The Peter principle
(D) The job design principle



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