Machine-translated by Google. Questions are authored in English.
Top

MH SET 2021: 26 September, Paper II, Commerce

  • Date: 26 September 2021
  • Paper code: Sep50221
  • Series: A
  • Language: Bilingual
  • 32 pages
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 1 of 32
Page 1 of 32
Text of page 1
Test Booklet Code & Serial No.
                                                                                                                     A
                                                                COMMERCE
Signature and Name of Invigilator                                                         Seat No.
1. (Signature) .........................................
                                                                                                           (In figures as in Admit Card)
      (Name) ................................................
                                                                                  Seat No. ..............................................................
2. (Signature) .........................................                                              (In words)
      (Name) ................................................                 OMR Sheet No.
SEP - 50221                                                                                         (To be filled by the Candidate)
Time Allowed : 2 Hours]                                                                                 [Maximum Marks : 200
Number of Pages in this Booklet : 32                                                     Number of Questions in this Booklet : 100
                      Instructions for the Candidates
1.         Write your Seat No. and OMR Sheet No. in the space provided              1.
           on the top of this page.
2.         This paper consists of 100 objective type questions. Each question
           will carry two marks. All questions of Paper II will be compulsory.      2.
3.         At the commencement of examination, the question booklet
           will be given to the student. In the first 5 minutes, you are            3.
           requested to open the booklet and compulsorily examine it as
           follows :
           (i)      To have access to the Question Booklet, tear off the
                    paper seal on the edge of this cover page. Do not accept                (i)
                    a booklet without sticker-seal or open booklet.
           (ii)     Tally the number of pages and number of questions in
                    the booklet with the information printed on the cover                   (ii)
                    page. Faulty booklets due to missing pages/questions
                    or questions repeated or not in serial order or any
                    other discrepancy should not be accepted and correct
                    booklet should be obtained from the invigilator within
                    the period of 5 minutes. Afterwards, neither the Question
                    Booklet will be replaced nor any extra time will be
                    given. The same may please be noted.
           (iii)    After this verification is over, the OMR Sheet Number
                                                                                            (iii)
                    should be entered on this Test Booklet.
4.         Each question has four alternative responses marked (A), (B),
           (C) and (D). You have to darken the circle as indicated below on         4.                     (A), (B), (C)    (D)
           the correct response against each item.
           Example : where (C) is the correct response.

                              A        B                 D                                           (C)
5.         Your responses to the items are to be indicated in the OMR                                      A        B               D
           Sheet given inside the Booklet only. If you mark at any place
           other than in the circle in the OMR Sheet, it will not be evaluated.     5.
6.         Read instructions given inside carefully.
7.         Rough Work is to be done at the end of this booklet.                     6.
8.         If you write your Name, Seat Number, Phone Number or put                 7.
           any mark on any part of the OMR Sheet, except for the space
                                                                                    8.
           allotted for the relevant entries, which may disclose your
           identity, or use abusive language or employ any other unfair
           means, you will render yourself liable to disqualification.
9.         You have to return original OMR Sheet to the invigilator at the
           end of the examination compulsorily and must not carry it with           9.
           you outside the Examination Hall. You are, however, allowed
           to carry the Test Booklet and duplicate copy of OMR Sheet on
           conclusion of examination.
                                                                                    10.
10.        Use only Blue/Black Ball point pen.
                                                                                    11.
11.        Use of any calculator or log table, etc., is prohibited.
12.        There is no negative marking for incorrect answers.                      12.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 2 of 32
Page 2 of 32
Text of page 2
SEP - 50221/II—A




2
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 3 of 32
Page 3 of 32
Text of page 3
SEP - 50221/II—A
                                   Commerce
                                     Paper II


                                                      II
Time Allowed : 120 Minutes]                          [Maximum Marks : 200
Note : This Paper contains Hundred (100) multiple choice questions. Each question
       carrying Two (2) marks. Attempt All questions.
                              (100)                                           (2)



1.   A feeling of confusion, insecurity          1.
     and anxiety caused by the
     strangeness of a new environment
     is termed as :
                                                       (A)
     (A) Cultural lag
                                                       (B)
     (B) Cultural conformity
                                                       (C)
     (C) Cultural transmission
     (D) Cultural shock                                (D)

2.   The theory of Absolute Cost                 2.
     Advantage was given by :
     (A) Paul Krugman                                  (A)
     (B) Adam Smith                                    (B)
     (C) Eli Heckscher                                 (C)
     (D) David Ricardo                                 (D)
3.   India’s foreign trade policy is known       3.
     as :
     (A) EXIT policy                                   (A)
     (B) FDI policy                                    (B)
     (C) EXIM policy                                   (C)
     (D) Monetary policy                               (D)
                                             3                            [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 4 of 32
Page 4 of 32
Text of page 4
SEP - 50221/II—A

4.   Firms that operate internationally         4.
     are able to :

     (A) Earn a greater return from
                                                     (A)
         their       skills   and    core
         competencies

     (B) Realize location economies                  (B)
         where they can be performed
         most efficiently

     (C) Realize      experience    curve            (C)
         economies which reduces cost of
         production

     (D) All the above                               (D)

5.   Which one of the following is not a        5.
     component of balance of payments ?

     (A) Current account                             (A)

     (B) Capital account                             (B)

     (C) Social account                              (C)

     (D) Official settlement account                 (D)

6.   Which one of the following is not a        6.
     member of North American Free
     Trade Agreement (NAFTA) ?
                                                     (A)
     (A) Canada
                                                     (B)
     (B) Mexico

     (C) Japan                                       (C)

     (D) U.S.A.                                      (D)

                                            4
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 5 of 32
Page 5 of 32
Text of page 5
SEP - 50221/II—A
7.    Which one of the following is not a                 7.
      determinant of foreign investment ?

      (A) Political stability                                   (A)
      (B) Legal          and        regulatory
                                                                (B)
             framework
                                                                (C)
      (C) Quality education
                                                                (D)
      (D) Size of market
                                                          8.               2020
8.    ASEAN Vision 2020 was adopted
      in :
                                                                (A) 1991
      (A) 1991
                                                                (B) 1997
      (B) 1997
                                                                (C) 2000
      (C) 2000
                                                                (D) 2002
      (D) 2002
                                                          9.
9.    Trade related Intellectual Property
      Rights doesn’t include .............. .
                                                                (A)
      (A) Copyrights
                                                                (B)
      (B) Trademarks
                                                                (C)
      (C) Industrial design
                                                                (D)
      (D) Labour laws
                                                          10.
10. .................... is director general of the
      World Trade Organization.
                                                                (A)
      (A) Geeta Gopinath
                                                                (B)
      (B) Roberto Azevedo

      (C) Yonov Frederick                                       (C)

      (D) Christine Lagarde                                     (D)

                                                      5                                [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 6 of 32
Page 6 of 32
Text of page 6
SEP - 50221/II—A
11. Inflation Accounting is an expected         11.
    solution over the limitations of
    ..................... assumption.
                                                      (A)
    (A) Historical cost concept
                                                      (B)
    (B) Matching concept
    (C) Dual aspect concept                           (C)

    (D) Convention of consistency                     (D)

12. Which of the following is not a part        12.
    of Budget ?
    (A) Projected Balance Sheet                       (A)
    (B) Capital expenditure budget                    (B)
    (C) Operating budget                              (C)
    (D) Budget manual                                 (D)
13. The amount of sales needed to attain        13.
    a desired profit is calculated by
    dividing .................... by the
    contribution margin ratio.
                                                      (A)
    (A) Fixed cost
                                                      (B)
    (B) Desired profit
    (C) Desired profit plus fixed cost                (C)

    (D) Variable cost                                 (D)
14. Standard cost is developed by :             14.
    (A) Adjusting price level changes in              (A)
        the prices of material and labour
        etc
    (B) Interpolating the market price                (B)
        with the expected profit
    (C) Adding the profit margin to
        actual cost                                   (C)

    (D) Incorporating price level                     (D)
        changes in market price
                                            6
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 7 of 32
Page 7 of 32
Text of page 7
SEP - 50221/II—A

15. A master budget comprises of :                        15.

    (A) The entire set of budgets
                                                                (A)
         prepared

    (B) The budgeted cash flow

    (C) The budgeted profit and loss                            (B)
         account
                                                                (C)
    (D) The       budgeted cash            flow,
         budgeted profit             and     loss               (D)
         statement          and      budgeted
         balance sheet

16. The period of preference shares can                   16.
    not exceed ...............

    (A) 20 years                                                (A) 20

    (B) 7 years                                                 (B) 7

    (C) 5 years                                                 (C) 5

    (D) 8 years                                                 (D) 8

17. Activity Based Costing brings                         17.
    accuracy and reliability in product
    cost determination by focussing on
    ....................... in the cost incurrence.

    (A) Cause and effect relationship                           (A)
    (B) Cost absorption                                         (B)
    (C) Cost allocation                                         (C)
    (D) Cost apportionment                                      (D)
                                                      7                            [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 8 of 32
Page 8 of 32
Text of page 8
SEP - 50221/II—A
18. The budgeted per unit cost data of            18.
    a toy manufacturing company is :
    Material              ` 18
                                                                          ` 18
    Labour                ` 09
                                                                          ` 09
    Variable overheads ` 08
                                                                          ` 08
    Selling price         ` 50
                                                                          ` 50
    Budgeted production and sales is
    1,50,000 units. Fixed overhead                                            1,50,000
    incurred is ` 4,00,000.                                            ` 4,00,000
    The total profit, if price is decreased                    25%                  30%
    by 25% and volume of sales increase
    by 30%, is :
                                                        (A) ` 87,500
    (A) ` 87,500
    (B) ` 61,900                                        (B) ` 61,900

    (C) ` 70,650                                        (C) ` 70,650
    (D) ` 55,600                                        (D) ` 55,600
19. A cash flow statement does not                19.
    show :
    (A) Increase in working capital                     (A)
    (B) Purchase of machine                             (B)
    (C) Whether credit limit is breached                (C)
    (D) Whether a new loan is availed                   (D)
20. An auditor should consult the                 20.
    following document for knowing
    company’s rules relating to its
    internal working :
    (A) Company’s prospectus                            (A)
    (B) Company’s Memorandum of
        Association                                     (B)
    (C) Annual report                                   (C)
    (D) Company’s         Articles      of
        Association                                     (D)

                                              8
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 9 of 32
Page 9 of 32
Text of page 9
SEP - 50221/II—A
21. What does an inward shift in the               21.
    production possibility curve
    indicate ?                                           (A)
     (A) Economic recession
                                                         (B)
     (B) Economic growth
     (C) Economic stagnation                             (C)
     (D) Hyperinflation in economy                       (D)
22. Business economics is essentially ......       22.
     (A) Applied microeconomics only                     (A)
     (B) Applied macroeconomics only                     (B)
     (C) Both applied microeconomics                     (C)
         and applied macroeconomics
     (D) Neither    applied     micro-                   (D)
         economics, nor applied macro-
         economics
23. As we move down along a demand                 23.
    curve with constant slope, the price
    elasticity of demand :
     (A) Remains constant                                (A)
     (B) Increases
                                                         (B)
     (C) Decreases
                                                         (C)
     (D) Multiplies
                                                         (D)
24. If elasticity of demand is one
                                                   24.                             (ED = 1)
    (ED = 1), then ....................... .

     (A) MR = AR and AR = MR                             (A)           =
                                                                   =
                                                         (B)           <
     (B) MR < 0 and AR = 0
                                                               =
                                                         (C)           >
     (C) MR > 0 and AR > 0                                     >
                                                         (D)           =
     (D) MR = 0 and AR > 0
                                                               >
                                               9                                     [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 10 of 32
Page 10 of 32
Text of page 10
SEP - 50221/II—A
25. Which of the following is not an                   25.
    assumption of the law of diminishing
    marginal utility ?
     (A) Rationality                                         (A)

     (B) Cardinal utility                                    (B)
     (C) Homogeneous           units    of   a               (C)
         commodity
     (D) Constant production function                        (D)
26. Which of the following is not true                 26.
    in case of the law of variable
    proportions ?
                                                             (A)
     (A) Production technology remains
         unchanged                                           (B)
     (B) Some inputs are kept fixed
         during production
     (C) Possibility of change in factor                     (C)
         proportions
                                                             (D)
     (D) Constant returns to scale in all
         three stages of production
27. .................... shows all combinations        27.
    of inputs that can be used to produce
    a given level of output.
     (A) Expansion path                                      (A)
     (B) Isocost                                             (B)
     (C) Isobar                                              (C)
     (D) Isoquant                                            (D)

28. In the short-run, a competitive firm               28.
    maximises its profit by choosing an
    output at which price is ............... .
     (A) Equal to marginal cost                              (A)
     (B) Greater than marginal cost                          (B)
     (C) Less than marginal cost                             (C)
     (D) Below the average variable cost                     (D)
                                                  10
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 11 of 32
Page 11 of 32
Text of page 11
SEP - 50221/II—A
29. The market structure where the                    29.
    monopolist charges different
    prices for the same commodity is
    known as ........................
     (A) Natural monopoly                                   (A)

     (B) Discriminating monopoly                            (B)

     (C) Legal monopoly                                     (C)
     (D) Simple monopoly                                    (D)
30. A : Degrees of price discrimination               30.     :
        were introduced by A.C. Pigou.
     B : Under first degree price                             :
         discrimination   consumer
         surplus is zero.
                                                            (A)
     (A) Only ‘A’ is true
     (B) Only ‘B’ is true                                   (B)

     (C) Both ‘A’ and ‘B’ are correct                       (C)
     (D) Both ‘A’ and ‘B’ are incorrect                     (D)
31. Tax considerations do not enter into              31.
    the cost of ............... calculation.
     (A) Equity                                             (A)
                                                            (B)
     (B) Debt
                                                            (C)
     (C) Preference share
                                                            (D)
     (D) Retained earnings
32. If the investor invests his money in              32.
    a particular company and company
    gets bankrupt, it is said to be ..........
     (A) Default risk                                       (A)
     (B) Business risk                                      (B)
     (C) Market risk                                        (C)
     (D) Interest rate risk                                 (D)
                                                 11                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 12 of 32
Page 12 of 32
Text of page 12
SEP - 50221/II—A
33. Degree of the financial leverage is               33.
    a measure of relationship between :
     (A) EPS and EBIT                                       (A)
     (B) EBIT and quantity produced
                                                            (B)
     (C) EPS and sales
                                                            (C)
     (D) EPS and Interest payment
                                                            (D)
34. In accept-reject decisions ...............
                                                      34.
     (A) NPV and IRR methods produce                        (A)
         identical results
     (B) NPV and IRR methods produce                        (B)
         different results
     (C) NPV and IRR methdos are                            (C)
         indifferent
                                                            (D)
     (D) NPV and IRR never used for
         evaluation of project
35. The costliest of long term source of              35.
    finance is :
                                                            (A)
     (A) Preference share capital
                                                            (B)
     (B) Equity share capital
                                                            (C)
     (C) Retained earnings
     (D) Debentures                                         (D)
36. If the price is ` 300 and the dividend            36.                ` 300
    is ` 30, what should be the price at                    ` 30
    which one should sell the stock at                             40%
    the end of one year in order to obtain
    a rate of return of 40% ?
     (A) ` 390                                              (A) ` 390
     (B) ` 420                                              (B) ` 420
     (C) ` 450                                              (C) ` 450
     (D) ` 370                                              (D) ` 370
                                                 12
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 13 of 32
Page 13 of 32
Text of page 13
SEP - 50221/II—A
37. Maximising the wealth of the                  37.
    shareholders is reflected in :
     (A) Maximising market price of                     (A)
         equity shares
                                                        (B)
     (B) Maximising cash balance
                                                        (C)
     (C) Maximising retained earnings
                                                        (D)
     (D) Maximising issued capital
38. Speculators will buy and, currency            38.
    through a forward market deal if :
     (A) Future spot rate of that                       (A)
         currency is expected to be lower
         than the forward rate
                                                        (B)
     (B) Future spot rate of that
         currency is expected to be
         higher than the forward rate
                                                        (C)
     (C) If future spot rate is expected
         to be equal to the forward rate
     (D) Future spot rate of the currency               (D)
         is not expected to be lower than
         the forward rate
39. Free land and building given by the           39.
    host-country Government is ...........
     (A) Not included in the initial cash               (A)
         flow
     (B) Included in the initial cash flow
                                                        (B)
     (C) Added to the initial cash flow
                                                        (C)
     (D) Not added in the income
         statement                                      (D)

                                             13                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 14 of 32
Page 14 of 32
Text of page 14
SEP - 50221/II—A

40. Euro notes have a maturity of ......          40.
     (A) One year or less
     (B) More than one year but less                    (A)
         than 3 years                                   (B)                3
     (C) More than 3 years but less than                (C)
         5 years
     (D) More than 5 years                              (D)
41. If for 10 observations (x – 20) = 100,        41.         10      (x
    then the arithmetic mean is ........ .
     (A) 20                                             (A) 20
     (B) 30                                             (B) 30
     (C) 10                                             (C) 10
     (D) 120                                            (D) 120

42. State which of the following                  42.
    statements is true ?
                                                        (A)
     (A) Arithmetic mean is proper
         representative of the group if
         the standard deviation is
         smaller
                                                        (B)
     (B) Arithmetic mean is proper
         representative of the group if
         the standard deviation is larger
     (C) Arithmetic mean is proper
                                                        (C)
         representative of the group
         irrespective the standard
         deviation
     (D) Smaller the standard deviation,
                                                        (D)
         smaller will be the arithmetic
         mean

                                             14
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 15 of 32
Page 15 of 32
Text of page 15
SEP - 50221/II—A

43. If    P(A)       =     0.7,      P(B)       =     0.8,          43.          P(A) = 0.7, P(B) = 0.8,
    P (A       B) = 0.3, then P (A'             B) = .......
                                                                          P (A      B) = 0.3,    P (A'   B) = .......
    (A) 0.7                                                               (A) 0.7
    (B) 0.1                                                               (B) 0.1
    (C) 0.5                                                               (C) 0.5

    (D) – 0.1                                                             (D) – 0.1

44. It has been found that the number                               44.
    of mistakes per page in a book                                                       (Poisson)
    follows           Poisson            probability                                    (Parameter) 2
    distribution with parameter 2, then
    the probability that there is no
    mistake on a certain page is ....... .
                                                                          (A) e 2
    (A) e 2
                                                                          (B) e 2
    (B) e 2

    (C) 2e 2                                                              (C) 2e 2
        1 2                                                                      1 2
    (D)   e                                                               (D)      e
        2                                                                        2
45. The mean and variance of a                                      45.
    binomial distribution are 8 and 4                                               8    4
    respectively, then the parameters
    are .............., ................... .
                                                                          (A) n = 8       P = 0.5
    (A) n = 8            P = 0.5
                                                                          (B) n = 4       P = 0.4
    (B) n = 4            P = 0.4
                                                                          (C) n = 16 P = 0.5
    (C) n = 16 P = 0.5
                                                                          (D) n = 16 P = 0.4
    (D) n = 16 P = 0.4

                                                               15                                          [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 16 of 32
Page 16 of 32
Text of page 16
SEP - 50221/II—A
46. The area under the standard normal               46.                           –1.96
    curve between the lines at the points
    –1.96 and +1.96 is ................ .
    (A) 50%                                                (A) 50%
    (B) 90%                                                (B) 90%
    (C) 95%                                                (C) 95%
     (D) 5%                                                (D) 5%
47. In order to test equality of                     47.
    population means of two groups
    when their standard deviations are
    unknown, we use ................... test.
                                                           (A) F
    (A) F
    (B) t                                                  (B) t
    (C) z                                                  (C) z
     (D) Chi-square                                        (D) Chi-square
48. Analysis of variance technique                   48.
    involves ....................... .
     (A) Computation of variances of                       (A)
         different groups
                                                           (B)
     (B) Computation of means and
         variances of different groups                     (C)
     (C) Splitting of the variance as                            (Within sample)
         variation between the samples                                      (between samples)
         and also within sample
     (D) Preparation of ANOVA table                        (D) ANOVA
49. A research which aims at finding a               49.
    solution for an immediate problem
    facing a society or a business
    organisation is called as ..............
    research.
     (A) Fundamental                                       (A)
     (B) Applied                                           (B)
     (C) Analytical                                        (C)
     (D) Conceptual                                        (D)

                                                16
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 17 of 32
Page 17 of 32
Text of page 17
SEP - 50221/II—A

50. Arrange the following steps in                       50.
    report writing in appropriate order :

    (i)   Preparation of rough draft
                                                               (i)
    (ii) Logical analysis of the subject
                                                               (ii)
          matter

    (iii) Preparation of the final outline                     (iii)

    (iv) Preparation         of       the   final              (iv)
          bibliography
                                                               (v)
    (v) Rewriting and polishing of the
          rough draft
                                                               (A) (i), (v), (ii), (iv), (iii)
    (A) (i), (v), (ii), (iv), (iii)
                                                               (B) (ii), (iii), (i), (v), (iv)
    (B) (ii), (iii), (i), (v), (iv)

    (C) (iii), (ii), (v), (iv), (i)                            (C) (iii), (ii), (v), (iv), (i)

    (D) (v), (i), (iii), (ii), (iv)                            (D) (v), (i), (iii), (ii), (iv)

51. Conflict has always been considered                  51.
    undesirable so that it should be
    avoided when possible or resolved
    soon it occurs. However, ................
    believes that conflict can be helpful
    or constructive if handled properly.

    (A) Scientific management school
                                                               (A)
    (B) Administrative management
          school                                               (B)

    (C) Human relations school                                 (C)
    (D) Modern management view                                 (D)

                                                    17                                           [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 18 of 32
Page 18 of 32
Text of page 18
SEP - 50221/II—A

52. .................. Bostan Consulting Group         52.
     (BCG) focus on the following.
     (A) Sales, growth of market and                         (A)
         whether it absorbs or produces
         cash in its operations
     (B) Technology Development, Sales
         Development and Product                             (B)
         Development
     (C) Market         development,                         (C)
         innovations and sales growth
     (D) New business development,
         New market development and                          (D)
         New product development
53. ................ pointed out that effective        53.
    direction depends upon the harmony
     of objectives.
     (A) Peter Drucker                                       (A)
     (B) Fredric Taylor                                      (B)
     (C) Henry Fayol                                         (C)
     (D) Philip Kotler                                       (D)
54. Increase in supply or in productivity              54.
    of factors such as financial, labour
    and material is called :
     (A) Factor innovation                                   (A)

     (B) Resource innovation                                 (B)

     (C) Expansion                                           (C)

     (D) Basic innovation                                    (D)

                                                  18
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 19 of 32
Page 19 of 32
Text of page 19
SEP - 50221/II—A
55. Markov analysis technique is used                     55.
    in Human Resource planning for
    ............... forecasts.
                                                                (A)
     (A) Long-term
                                                                (B)
     (B) Medium-term
                                                                (C)
     (C) Short-term
     (D) Uncertain period                                       (D)

56. Business ethics and effective                         56.
    corporate Goverance result in ...... .
     (A) Short-term profit maximizaion                          (A)
     (B) Reduced taxes                                          (B)
     (C) Wealth maximisation                                    (C)
     (D) Monopoly                                               (D)
57. .................... is not the form/scheme of        57.
    workers                 participation      in
    management.
                                                                (A)
     (A) Works committees
                                                                (B)
     (B) Joint management councils
                                                                (C)
     (C) Employee directors on the board
         of directors
     (D) Board of Directors                                     (D)
58. .................. is a process of guiding and        58.
    counselling the employee to
    familiarize him with job situations.
     (A) Rank and File Job Training                             (A)
     (B) Supervisory Training                                   (B)
     (C) Induction Training                                     (C)
     (D) Craft Training                                         (D)
                                                     19                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 20 of 32
Page 20 of 32
Text of page 20
SEP - 50221/II—A
59. In .................... type of leadership the        59.
    leader’s job is primarily of a
    moderator, even though he makes
    the final decision and he alone is
    responsible for the results.
      (A) Autocratic              Dictatorial                   (A)
          leadership
      (B) Participative or Democratic                           (B)
          leadership
      (C) Laissez faire or free-reign
          leadership                                            (C)

      (D) (A) and (C)                                           (D) (A)   (C)
60. ..................... is the process of               60.              (job)
    determining the task involved in the                              (task)
    job and personal qualities of the                                              (qualities)
    individuals required to perform it.
      (A) Job analysis                                          (A)
      (B) Job description                                       (B)
      (C) Job evaluation                                        (C)
      (D) Job enrichment                                        (D)
61. The major player in the Indian                        61.
    money market is ......................... .
      (A) Co-operative banks                                    (A)
      (B) Indigenous banks                                      (B)
      (C) Commercial banks                                      (C)
      (D) Reserve Bank of India                                 (D)
62. Which of the following is not the                     62.
    principal function of the RBI ?
      (A) Bankers Bank                                          (A)
      (B) Currency issue                                        (B)
      (C) Government’s Bank
                                                                (C)
      (D) Bankers to the local self-
          government                                            (D)

                                                     20
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 21 of 32
Page 21 of 32
Text of page 21
SEP - 50221/II—A
63. The safest form of crossing is ...... .           63.
     (A) General crossing                                   (A)
     (B) Special crossing                                   (B)
     (C) Double crossing                                    (C)
     (D) A/c payee crossing                                 (D)
64. The bank through which the issuing                64.
    bank arranges to advice the letter
    of credit to the beneficiary is called
    as ........................ .
     (A) Bank of issue                                      (A)
     (B) Advising bank                                      (B)
     (C) Payee bank                                         (C)

     (D) Authorised bank                                    (D)
65. .................... is financing and             65.
    maintenance of book debts by
    another party.
                                                            (A)
     (A) Del-credere contract
                                                            (B)
     (B) Debt brokerage
     (C) Factoring                                          (C)

     (D) Bill discounting                                   (D)

66. All the exchange rates quoted on the              66.
    screen or in print are for ........ unless
    otherwise mentioned.
     (A) Spot transactions                                  (A)

     (B) Forward transactions                               (B)
     (C) Cash transactions                                  (C)
     (D) Tom transactions                                   (D)
                                                 21                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 22 of 32
Page 22 of 32
Text of page 22
SEP - 50221/II—A
67. Merchant bankers are ................ .         67.
     (A) Financial brokers                                (A)
     (B) Financial intermediaries                         (B)
     (C) Credit appraisers                                (C)
     (D) Underwriters                                     (D)
68. The committee which recommended                 68.
    establishment of data warehouse
    is ............................ .
     (A) Vasudevan Committee                              (A)
     (B) Rangarajan Committee                             (B)
     (C) Saraf Committee                                  (C)
     (D) Shere Committee                                  (D)
69. The Basel Committee on Banking                  69.
    supervisory authorities was
    established by ....................... .
     (A) The Central bank governors of                    (A)
         the group of ten countries
     (B) European countries                               (B)
     (C) India                                            (C)
     (D) U.S.A.                                           (D)
70. The ratio of shareholders funds to              70.
    the total assets measures that shifts
    in the ratio of owned funds to total
    funds is ........................ .
     (A) Economic equity ratio                            (A)
     (B) Fund based ratio                                 (B)
     (C) Total asset ratio                                (C)
     (D) Liquidity ratio                                  (D)
                                               22
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 23 of 32
Page 23 of 32
Text of page 23
SEP - 50221/II—A
71. Marketing refers to ....................              71.
     (A) Social and managerial process                          (A)
         of anticipating, identifying and
         satisfying            customer
         requirements profitably
     (B) Managerial             process  of                     (B)
         measuring                customers
         requirements
                                                                (C)
     (C) Process of creating demand for
         goods and services made
         available in the market
                                                                (D)
     (D) Process of collecting and
         analysing data related to future
         requirements of customers
72. Demand going up and down with                         72.
    time upsetting alignment with
    supply is known as .................... .
     (A) Excess                                                 (A)
     (B) Declining                                              (B)
     (C) Latent                                                 (C)
     (D) Fluctuating                                            (D)
73. The       customer                 orientation        73.
    implies ............................... .
     (A) Selling goods/services at                              (A)
         moderate price to customer
     (B) Giving priority to profit vis-a-                       (B)
         vis the customer needs
     (C) Applying cafeteria approach for                        (C)
         production
     (D) Ability to think like and act like                     (D)
         customer
                                                     23                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 24 of 32
Page 24 of 32
Text of page 24
SEP - 50221/II—A
74. Skimming Price Strategy is                        74.
    appropriate when ..................... .
     (A) Product is differentiated and
                                                            (A)
         competition is normal
     (B) Customers are sensitive to price                   (B)
     (C) Customers are price insensitive                    (C)
         to a given value and they wish
         to buy
     (D) Product is new and innovative                      (D)
75. Distribution logistics refers to ...... .         75.
     (A) All activities that accomplish
         delivery of the end product to                     (A)
         the channels as well as the
         consumer
     (B) Physical flow of the product from
                                                            (B)
         product development             to
         production
     (C) Transportation, warehousing                        (C)
         and inventory management
                                                            (D)
     (D) Attempt to create value to
         product
76. The maturity stage of PLC is                      76.
    characterised by ....................... .
     (A) Growth in absolute sales and
                                                            (A)
         sales growth rate starts declining
     (B) The number of sales declined,
         growth rate turns negative                         (B)
     (C) Growth in absolute sales and
         sales growth rate remaining                        (C)
         constant
     (D) Growth in absolute sales and
         sales growth rate increasing at                    (D)
         an increasing rate
                                                 24
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 25 of 32
Page 25 of 32
Text of page 25
SEP - 50221/II—A
77. Arrangement for a product to occupy                77.
    a clear, distinctive and desirable
    place relative to competing products
    in the minds of target consumer is
    known as .............................. .
     (A) Marketing mix                                       (A)
     (B) Marketing         planning       and                (B)
         strategy
                                                             (C)
     (C) Marketing process
     (D) Market positioning                                  (D)

78. ................ is a set of procedures and        78.
    sources, managers use to obtain
    everyday information about
    developments in the marketing
    environment.
                                                             (A)
     (A) Database system
                                                             (B)
     (B) Marketing intelligence system
     (C) Enterprise resource planning                        (C)
         system
                                                             (D)
     (D) Marketing research system
79. Different customer groups pays                     79.
    different prices for the same goods
    and services, (e.g. Railway
    concession to students and senior
    citizens) it is the example of ....... .
                                                             (A)
     (A) Customer segmentation price
                                                             (B)
     (B) Product form pricing
                                                             (C)
     (C) Optional pricing
                                                             (D)
     (D) Time pricing
                                                  25                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 26 of 32
Page 26 of 32
Text of page 26
SEP - 50221/II—A

80. ..................... enables one to have            80.
    comparison of quality and price.
     (A) Standardisation                                       (A)
     (B) Grading                                               (B)
     (C) Labelling                                             (C)
     (D) Branding                                              (D)
81. In the words of ..................., ‘‘Law is        81.
    the body of principles recognised and
    applied by the state is the
    administration of justice’’.
                                                               (A)
     (A) Salmond
                                                               (B)
     (B) Woodrow Wilson
     (C) Sir William Anson                                     (C)

     (D) Pallock                                               (D)
82. The President of India has given his                 82.
    assent to legislations on Central
    Goods and Service Tax on ............ .
     (A) 12th April, 2017                                      (A) 12                      2017
     (B) 27th March, 2017                                      (B) 27                2017
     (C) 29th March, 2017                                      (C) 29                2017
     (D) 30th April, 2017                                      (D) 30                      2017
83. Section 8 of the RTI Act, 2005 deals                 83.                                  2005
    with the ............................ .                    8 .......................
     (A) Exemption from Disclosure of                          (A)
         Information
                                                               (B)
     (B) Disposal of request
                                                               (C)
     (C) Penalties
     (D) Appeal                                                (D)

                                                    26
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 27 of 32
Page 27 of 32
Text of page 27
SEP - 50221/II—A
84. Intellectual Property Right (IPR)                     84.
    protects the use of information and
    ideas that are of ...................... .
                                                                (A)
     (A) Ethical value
                                                                (B)
     (B) Monetary value
                                                                (C)
     (C) Social value
     (D) Commercial value                                       (D)

85. What is the validity of challan in                    85. GST PMT–06
    Form GST PMT-06 ?
     (A) 1 day                                                  (A) 1
     (B) 5 days                                                 (B) 5
     (C) 15 days                                                (C) 15
     (D) Forever                                                (D)
86. According to Section 3 of the ........                86.                               3
    a minor is a person who has not
    completed eighteen years of age.
     (A) Indian Majority Act, 1875                              (A)                   1875
     (B) Indian Contract Act, 1872
                                                                (B)                   1872
     (C) Indian Companies Act, 2013
                                                                (C)                   2013
     (D) Indian Juvenile Justice Act,
         1986                                                   (D)                             1986

87. Section 2 (y) of the ..............., explains        87.                                   2 (y)
    turnover as, ‘‘It includes value of
    sale of goods or services’’.
     (A) The Competition Act, 2002                              (A)                  2002
     (B) The Factories Act, 1948                                (B)                1948
     (C) The Trade Union Act, 1926                              (C)                  1926
     (D) Maharashtra             Goods      and                 (D)
           Services Tax Act, 2017                                        2017

                                                     27                                      [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 28 of 32
Page 28 of 32
Text of page 28
SEP - 50221/II—A
88. If the threat is with regard to the                 88.
    goods or property of the other party,
    it is not ........................ .
     (A) Duress                                               (A)
     (B) Fraud                                                (B)
     (C) Mistake                                              (C)
     (D) Illegal                                              (D)
89. The cartel is defined u/s ............... of        89.
    the Competition Act, 2002.
     (A) 2(c)                                                 (A) 2(c)
     (B) 2(f)                                                 (B) 2(f)
     (C) 2(h)                                                 (C) 2(h)
     (D) 2(i)                                                 (D) 2(i)
90. Which section of the RTI Act, 2005                  90.
    deals with obligation of Public
    authorities ?
     (A) Sec. 6                                               (A)        6
     (B) Sec. 7                                               (B)        7
     (C) Sec. 4(1)                                            (C)        4(1)
     (D) Sec. 8                                               (D)        8
91. When income of previous year is not                 91.
    taxable in the immediately following
    assessment year ?
     (A) Shipping business of resident
     (B) Shipping business of non-                            (A)
         resident
                                                              (B)
     (C) Non-government organisation
         of foreign country                                   (C)
     (D) Non-government organisation
                                                              (D)
         of India
                                                   28
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 29 of 32
Page 29 of 32
Text of page 29
SEP - 50221/II—A
92. Which of the following income is not        92.
    taxable under Income Tax Act,
    1961 ?                                            1961
    (A) Income of Maharashtra State
                                                      (A)
        Road Transport Corporation
        (MSRTC)
    (B) Income   of  Maharashtra
        Government Milk Scheme                        (B)
    (C) Income    of  Maharashtra                     (C)
        Tourism        Development
        Corporation (MTDC)
    (D) Income of Maharashtra State                   (D)
        Financial Corporation (MSFC)
93. Gift of ` 2,00,000 received by              93.                              ` 2,00,000
    employee through account payee
    cheque from employer is taxable
    under the head :
    (A) Income from salary                            (A)
    (B) Income from other sources
                                                      (B)
    (C) Exempt from Income Tax
                                                      (C)
    (D) Income exempt upto ` 50,000
        and balance taxable under the                 (D) ` 50,000
        head ‘Income from other
        sources’
94. An industrial undertaking has               94.                          ` 60,00,000
    acquired and installed a machinery
    costing ` 60,00,000 on 3rd October,                         3         2018
    2018. The assessee has fulfilled the
    conditions specified in Section 32                       1961           32(iia)
    (iia) of the Income Tax Act, 1961.
    Then additional depreciation for
    A. Y. 2019-20 will be :
    (A) ` 6,00,000                                    (A) ` 6,00,000
    (B) ` 9,00,000                                    (B) ` 9,00,000
    (C) ` 4,50,000                                    (C) ` 4,50,000
    (D) ` 12,00,000                                   (D) ` 12,00,000
                                           29                                         [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 30 of 32
Page 30 of 32
Text of page 30
SEP - 50221/II—A
95. When net annual value of a house                    95.
    property can be negative –
                                                              (A)       24
    (A) Deduction under Section 24 are
         more than income
    (B) When municipal taxes paid by                          (B)
         the owner are more than gross
         annual value
    (C) When house property is self                           (C)
         occupied
    (D) When the house property was
                                                              (D)
         vacant throughout the year
96. Mr. Rajendra purchased a plot of                    96.                 5       2012
    land in Pune for ` 70,00,000 on 5th                                             ` 70,00,000
    July 2012. He constructed a
    residential house on this plot, which                                             8           2015
    was completed on 8th October, 2015.
    The cost of construction was                              ` 50,00,000                            6
    ` 50,00,000. The entire house                                   2017        ` 2,10,00,000
    structure was sold for ` 2,10,00,000
    on 6th August, 2017, which includes                       ` 1,50,00,000
    ` 1,50,00,000 for land and balance
    for the superstructure. What can be                       2018-19
    the capital gain on sale of house for
                                                                                            2012-13,
    the A. Y. 2018-19 ? C.I.I. for previous
                                                              2015-16   2017-18
    years 2012-13, 2015-16 and 2017-18
                                                                           200, 254         278
    is 200, 254, 278 respectively.
     (A) ` 64,80,000                                          (A) ` 64,80,000
     (B) ` 90,00,000                                          (B) ` 90,00,000
     (C) ` 30,00,000                                          (C) ` 30,00,000
     (D) ` 80,00,000                                          (D) ` 80,00,000
97. .................... is a section related to        97.                         1961
    clubbing of income under Income
    Tax Act, 1961.
                                                              (A)           60-63
     (A) Section 60-63
     (B) Section 60-69                                        (B)           60-69

     (C) Section 60-64                                        (C)           60-64
     (D) Section 60-61                                        (D)           60-61

                                                   30
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 31 of 32
Page 31 of 32
Text of page 31
SEP - 50221/II—A

98. Income from Farmhouse is :                       98.

    (A) Agricultural income
                                                            (A)
    (B) Income from house property
                                                            (B)
    (C) Exempted capital gain                               (C)
    (D) Income from other sources                           (D)
99. Apex Ltd, a manufacturing company                99.
    has installed a machinery costing
    ` 100,00,000 in a factory for research
    and development and charged as an
                                                                              1961
    expense under section 35 of Income
                                                                  35
    Tax Act, 1961 but used that
    machinery for manufacturing of
    regular products. Then it will be
    considered as :

    (A) Tax management                                      (A)

    (B) Tax planning                                        (B)

    (C) Tax avoidance                                       (C)
    (D) Tax evasion                                         (D)
100. A non-corporate assessee is required
                                                     100.              15
    to pay advance tax at ................ of
    estimated taxable income, on or
    before 15th December.
                                                            (A) 45%
    (A) 45%

    (B) 30%                                                 (B) 30%

    (C) 15%                                                 (C) 15%

    (D) 75%                                                 (D) 75%

                                                31                               [P.T.O.
MH SET 2021 question paper, 26 September 2021, Paper II, Commerce, page 32 of 32
Page 32 of 32
Text of page 32
SEP - 50221/II—A

ROUGH WORK




    32
Page 1 of 32

Source: Savitribai Phule Pune University. Question paper published by Savitribai Phule Pune University.