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MH SET 2023: 26 March, Paper II, Commerce

  • Date: 26 March 2023
  • Paper code: MAR-50223
  • Series: A
  • Language: Bilingual
  • 40 pages
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Test Booklet Code & Serial No.
                                                                                                                     A
                                                                COMMERCE
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1. (Signature) .........................................
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      (Name) ................................................
                                                                                  Seat No. ..............................................................
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      (Name) ................................................                 OMR Sheet No.
MAR - 50223                                                                                         (To be filled by the Candidate)
Time Allowed : 2 Hours]                                                                                 [Maximum Marks : 200
Number of Pages in this Booklet : 40                                                     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.
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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
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MAR - 50223/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 producer when supplies particular              1.
     goods and commodities to specified
     distributors and guarantees not to
     supply other distributors in a given
     region is termed as ................. .

     (A) Refusal to deal                                    (A)
     (B) Tied selling                                       (B)
     (C) Restraint of selling                               (C)

     (D) Exclusive dealing                                  (D)

2.   Under the provisions of section                  2.
     ................ of the Banking Regulation
     Act, the SLR is applicable to
     scheduled banks.
                                                            (A) 42
     (A) 42
                                                            (B) 43
     (B) 43

     (C) 47                                                 (C) 47

     (D) 48                                                 (D) 48

                                                  3                            [P.T.O.
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3.   Which of the following is appliable           3.
     for inter-state sale ?
     (A) Central GST                                    (A)
     (B) State GST                                      (B)
     (C) Integrated GST                                 (C)
     (D) State Value Added Tax                          (D)
4.   Under the constitution, Finance               4.
     Commission :
     (X) It is to be constituted every fifth
          year.
     (Y) It can be constituted when
                                                        (A)
          President considers necessary.
                                                        (B)
     (A) Only (X) is correct
     (B) Only (Y) is correct                            (C)
     (C) (X) and (Y) both are correct                   (D)
     (D) (X) and (Y) both are incorrect            5.
5.   Match the columns :
                 Group A                                (a)
     (a) Mercantilism
                                                        (b)
     (b) Theory of Absolute Cost
          Advantage                                     (c)
     (c) Comparative Cost Advantage                     (d)
          Theory
     (d) Factor Endowments Theory                       (1)
                 Group B
                                                        (2)
     (1) Heckscher-Ohlin
     (2) David Ricardo                                  (3)
     (3) Adam Smith                                     (4)
     (4) Maintaining Favourable BOP
     Codes :                                                  (a)   (b)   (c)   (d)
          (a) (b) (c) (d)
                                                        (A) (4)     (1)   (2)   (3)
     (A) (4) (1) (2) (3)
                                                        (B) (4)     (2)   (3)   (1)
     (B) (4) (2) (3) (1)
     (C) (4) (3) (1) (2)                                (C) (4)     (3)   (1)   (2)
     (D) (4) (3) (2) (1)                                (D) (4)     (3)   (2)   (1)

                                               4
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6.   Which theory postulates that               6.
     countries will export those goods
     that make intensive use of factors
     that are locally abundant, while
     import goods that make use of
     factors that are locally scarce ?

     (A) The Product Life Cycle Theory

     (B) Heckscher-Ohlin Theory                      (A)

     (C) Theory of Comparative Cost                  (B)
         Advantage
                                                     (C)
     (D) Theory     of   Absolute    Cost
         Advantage                                   (D)

7.   Which of the following is not a type       7.
     of BOP disequilibrium ?

     (A) Cyclical disequilibrium                     (A)

     (B) Secular disequilibrium                      (B)

     (C) Structural disequilibrium                   (C)

     (D) Demographic disequilibrium                  (D)

8.   Which of the following countries was       8.         1985
     not a member of SAARC when it was
     established in 1985 ?

     (A) Pakistan                                    (A)

     (B) Maldive                                     (B)

     (C) Afghanistan                                 (C)

     (D) Bangladesh                                  (D)

                                            5                        [P.T.O.
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9.   Which one of the following is not a         9.
     function of International Monetary
     Fund (IMF) ?

     (A) IMF provides technical advice                 (A)
         to its members regarding
         monetary and fiscal policies

     (B) IMF      provides   short-term
         financial assistance to its                   (B)
         members to solve the balance of
         payments problems

     (C) IMF functions as a reservoir of
         currencies of member countries                (C)
         and enables the members to
         borrow the other currencies

     (D) To promote private foreign
         investment     by   means      of             (D)
         guarantees on participation in
         loans and other investment
         made by private investors

10. Which one of the following is not a          10.
     form of non-tariff barriers (NTBs) ?

     (A) Quotas                                        (A)
     (B) Licensing                                     (B)
     (C) Bargaining                                    (C)
     (D) Voluntary export restraints                   (D)

                                             6
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11. As per which accounting convention        11.

    depreciation is provided for in the

    annual financial statements ?
                                                    (A)
    (A) Convention of conservatism
                                                    (B)
    (B) Convention of going concern
                                                    (C)
    (C) Convention of materiality

    (D) Convention of consistency                   (D)

12. Management audit is an extension          12.

    of .................... .

    (A) Cost audit                                  (A)

    (B) Efficiency audit                            (B)

    (C) Special audit                               (C)

    (D) Internal audit                              (D)

13. The material price variance arises        13.

    because of .................. .

    (A) Non-standard material mixture
                                                    (A)
    (B) Pilferage of materials
                                                    (B)
    (C) Loss of cash discount
                                                    (C)
    (D) Carelessness in the use of

           material                                 (D)

                                          7                         [P.T.O.
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14. In ................. system, costs are first       14.
     traced not to activities but to an
     organisational         unit    such     as
     department or plant and then to
     product.
                                                             (A)
     (A) Traditional Costing
                                                             (B)
     (B) Activity Based Costing
                                                             (C)
     (C) Target Costing

     (D) Kaizen Costing                                      (D)

15. MTC Ltd. sold 275,000 units of its                 15.                                   275,000
     product at Rs. 37.50 per unit.
                                                                   37.50
     Variable cost are Rs. 17.50 per unit.
                                                                            17.50
     (Manufacturing cost Rs. 14 and
     selling cost Rs. 3.50 per unit). Fixed                           14                     3.50

     costs are incurred uniformally
     throughout the year an amount to                                      35,00,000
     Rs. 35,00,000 (including depreciation
                                                             15,00,000
     of Rs. 15,00,000). There are no
                                                                                          250,000
     beginning and ending inventory.
     How much sales company should
     make to earn a desired profit of
     Rs. 250,000 ?
                                                             (A) 70,00,000
     (A) Rs. 70,00,000
                                                             (B) 75,00,000
     (B) Rs. 75,00,000
                                                             (C) 73,50,000
     (C) Rs. 73,50,000

     (D) Rs. 70,31,689                                       (D) 70,31,689

                                                   8
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16. The price band in case of IPO                     16.

    represents ................... .

    (A) Price range of share                                (A)

    (B) Band Box                                            (B)

    (C) Average price                                       (C)

    (D) Market value                                        (D)

17. Margin of safety can be improved                  17.
    by ................. .

    (A) Increase of variable cost per
          unit                                              (A)

    (B) Decrease of sales price per unit                    (B)

    (C) Decrease of variable cost per
                                                            (C)
          unit
                                                            (D)
    (D) Decrease of sales volume

18. Indian companies are generally                    18.
    following            Human         Resource
    Accounting according to model as
    suggested by :
                                                            (A)
    (A) Morese
                                                            (B)
    (B) David Watson

    (C) Lev and Schwartz                                    (C)

    (D) Flamholtz                                           (D)

                                                  9                         [P.T.O.
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19. Match the following pairs :               19.

               Group A
    (a) Confirmation of certain facts               (a)
    (b) Opinion on final accounts                   (b)
    (c) Review of internal control                  (c)
        systems
                                                    (d)                     2013
    (d) Compulsory under Companies
        Act, 2013
               Group B                              (1)
    (1) Internal control                            (2)
    (2) Statutory audit
                                                    (3)
    (3) Report
                                                    (4)
    (4) Certificate
    Codes :
                                                          (a)   (b)   (c)    (d)
        (a)   (b)   (c)   (d)
                                                    (A) (4)     (3)   (1)    (2)
    (A) (4)   (3)   (1)   (2)
                                                    (B) (3)     (1)   (4)    (2)
    (B) (3)   (1)   (4)   (2)
                                                    (C) (1)     (4)   (2)    (3)
    (C) (1)   (4)   (2)   (3)
                                                    (D) (4)     (1)   (2)    (3)
    (D) (4)   (1)   (2)   (3)
                                              20.
20. The cost audit report is to be
    submitted within :
    (A) 120 days from the close of the              (A)                                 120
        company’s financial year
    (B) 180 days from the close of the
        company’s financial year                    (B)                                 180
    (C) 90 days before the annual
        general meeting
                                                    (C)                            90
    (D) 60 days before the annual
        general meeting                             (D)                            60

                                         10
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21. Business economics is concerned                     21.
    with ................. economics.

    (A) Normative                                             (A)

    (B) Positive                                              (B)

    (C) Alternative                                           (C)

    (D) Descriptive                                           (D)

22. When the price of petrol decreases,                 22.
    the    demand         for     automobile
    increases. It implies that petrol and
    automobiles are .................. .
                                                              (A)
    (A) Substitute goods
                                                              (B)
    (B) Complementary goods
                                                              (C)
    (C) Inferior goods

    (D) Normal goods                                          (D)

23. Which of the following is not the                   23.
    property of indifference curve ?

    (A) Indifference curve is downward
                                                              (A)
          sloping

    (B) Indifference curve is concave to                      (B)
          origin

    (C) Indifference            curve      never
                                                              (C)
          intersect each other

    (D) A higher indifference curve                           (D)

          gives higher satisfaction

                                                   11                         [P.T.O.
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24. Which of the following activities                  24.
     related to production cannot take
     place in the short-run ?
     (A) Change in quantity of labour                        (A)
            employed
                                                             (B)
     (B) Decrease in output
     (C) Increase in the capacity                            (C)

     (D) Regular maintenance of the
                                                             (D)
            plant
25. Increasing returns to scale refers                 25.
     to ..................... .
     (A) More            than     proportionate              (A)
            increase in output
     (B) Proportionate increase in                           (B)
            output
     (C) Less            than     proportionate              (C)
            increase in output
     (D) Multiproportionate increase in                      (D)
            output
26. ................... is a combination where         26.
     the slope of the isoquant is equal to
     the slope of the isocost line.
     (A) Balanced cost input                                 (A)
     (B) Least cost input                                    (B)
     (C) Maximum cost input                                  (C)
     (D) Cost of production                                  (D)

                                                  12
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27. When the total cost equals total                 27.
    revenue, it is known as ............... .
    (A) Expansion point                                    (A)

    (B) Break-even point                                   (B)

    (C) Shut-down point                                    (C)

    (D) Focal point                                        (D)

28. In which of the following market                 28.
    structure, advertising expenses are
    least ?
                                                           (A)
    (A) Monopoly
                                                           (B)
    (B) Duopoly
    (C) Monopolistic competition                           (C)

    (D) Oligopoly                                          (D)

29. With respect to the consumer                     29.
    surplus, which of the following
    statements is not correct ?
                                                           (A)
    (A) It is a difference between what
         price consumer is willing to pay
         and what he actually pays
    (B) It is the total benefit the                        (B)
         consumer receives beyond what
         they pay
                                                           (C)
    (C) It is the value that consumer
         receives
    (D) It is the extra price paid by the                  (D)
         consumer

                                                13                         [P.T.O.
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30. Which of the following is not a
                                                      30.
     requirement under price skimming ?

     (A) A product must be new and

          distinctive                                       (A)

     (B) A product must be imported
                                                            (B)
     (C) A product must not have a close

          substitute                                        (C)

     (D) A product should have prestige
                                                            (D)
          value

31. Calculation of ................... cost of        31.

     capital only consider incremental

     change in the capital structure. It

     helps to know the minimum rate of

     return to be generated on the

     financing of the new project.

     (A) Overall cost of capital                            (A)

     (B) Weighted average cost of capital
                                                            (B)
     (C) Marginal cost of capital
                                                            (C)
     (D) Retained earnings cost of

          capital                                           (D)

                                                 14
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32. The risk that arises due to change                32.
    in purchasing power is called

    as ................... .
                                                            (A)
    (A) Inflation risk
                                                            (B)
    (B) Market risk
                                                            (C)
    (C) Business risk
                                                            (D)
    (D) Financial risk

33. The selection of one proposal based               33.

    on the choice of other proposals is

    called .................... .

    (A) Contingent investment proposal
                                                            (A)
    (B) Replacement proposal
                                                            (B)
    (C) Independent                 investment

           proposal                                         (C)

    (D) Mutual exclusive proposal                           (D)

34. Which of the following is expression              34.
    for operating leverage ?
                                                            (A)
        Contribution
    (A)
           EBIT
                                                            (B)
    (B) EBIT/Contribution

    (C) Contribution/EAT                                    (C)

    (D) EAT/Contribution                                    (D)

                                                 15                         [P.T.O.
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35. A Company Ltd. issued Rs. 100                35.                  100          14%

    lakhs 14% Debentures of Rs. 100                                  100

    each. Tax rate is 40%. Calculate cost                             40%     5%

    of debt with 10% premium and 5%                                 10%

    floatation cost.

    (A) 8.03%                                          (A) 8.03%

    (B) 15.27%                                         (B) 15.27%

    (C) 7.76%                                          (C) 7.76%

    (D) 14.23%                                         (D) 14.23%

36. Demand for foreign currency is               36.

    influenced primarily by :

    (A) Size of export                                 (A)

    (B) Size of import                                 (B)

    (C) Size of interport                              (C)

    (D) All of the above                               (D)

37. Market value of the firm is a result         37.
    of .................. .

    (A) Investment decisions                           (A)

    (B) Financing decisions                            (B)

    (C) Working capital management                     (C)

    (D) Risk return trade off                          (D)

                                            16
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38. Pits are .................. .               38.

      (A) The place where deals are made              (A)

      (B) A type of broker                            (B)

      (C) A form of margin money                      (C)

      (D) A form of hedging                           (D)

39. Higher exchange rate risk/political         39.

      risk .................... .

      (A) Adds to the cost of capital                 (A)

      (B) Lessens the cost of capital                 (B)

      (C) Bears no influence on the cost              (C)

             of capital

      (D) Does not add to the cost of                 (D)

             capital

40. Cocktail bonds are denominated              40.

      in .................... .

      (A) Egypt pound                                 (A)

      (B) US dollar                                   (B)

      (C) Japanese yen                                (C)

      (D) Euro                                        (D)

                                           17                         [P.T.O.
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41. Arithmetic mean is the most popularly                   41.
    used average because ............. .
    (i)    It is based on all observations                        (i)

    (ii) It is least affected by extreme                          (ii)           (extreme)
           observations
                                                                  (iii)
    (iii) It      is    capable        of    further
           mathematical treatments
                                                                  (iv)
    (iv) It is rigidly defined
                                                                  (v)                                sampling
    (v) It possesses sampling stability                                   stability
    (A) (i), (ii), (iii), (iv), (v)                               (A) (i), (ii), (iii), (iv), (v)
    (B) (i), (iii), (iv), (v)                                     (B) (i), (iii), (iv), (v)

    (C) (i), (ii), (iv), (v)                                      (C) (i), (ii), (iv), (v)
                                                                  (D) (i), (v)
    (D) (i), (v)
42. Standard deviation of 7, 7, 7, 7, 7                     42. 7, 7, 7, 7, 7

    is ................... .
    (A) 7                                                         (A) 7

    (B)       7                                                   (B)        7

    (C) 0                                                         (C) 0

    (D) 49                                                        (D) 49

43. If A and B are independent events                       43.          A        B            (independent)
    with P(A) = 0.7 and P(B) = 0.8, then                                                     P(A) = 0.7
     P(A       B) = .................... .                        P(B) = 0.8                 P(A    B) = ........ .
    (A) 0.94                                                      (A) 0.94
    (B) 0.56                                                      (B) 0.56
    (C) 0.75                                                      (C) 0.75
    (D) 0.80                                                      (D) 0.80

                                                       18
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44. Suppose the number of accidents per                44.

    week on a certain highway follows

    Poisson distribution with mean 2                            2
    then the percentage of weeks

    having no accidents is ....................
                                                                         e–2 = 0.1353
                       (Given e–2 = 0.1353)
                                                             (A) 27.06%
    (A) 27.06%
                                                             (B) 6.77%
    (B) 6.77%
                                                             (C) 13.53%
    (C) 13.53%
                                                             (D) 7.39%
    (D) 7.39%

45. The score in a certain examination                 45.

    follows normal distribution with
                                                                                    50
    mean 50 and standard deviation 16
                                                                    16              10%
    then the marks of top 10%

    candidates will have score more

    than .................. .                                (A) 90

    (A) 90
                                                             (B) 87
    (B) 87
                                                             (C) 97
    (C) 97

    (D) 95                                                   (D) 95

                                                  19                                      [P.T.O.
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46. Level of significance in testing of                      46.
    statistical       hypothesis             is   the                          (Level of significance)
    probability of ..................... .
    (A) Rejecting H0 when it is true                               (A) H0
    (B) Rejecting H0 when it is false
                                                                   (B) H0
    (C) Accepting H0 when it is true
                                                                   (C) H0
    (D) Accepting H0 when it is false
                                                                   (D) H0
47. The standard error of sample mean
    based on 100 observations from                           47.         50                5

    normal distribution with mean 50                                                    100

    and standard deviation 5 is ............ .

          1                                                              1
    (A)                                                            (A)
          2                                                              2

         1                                                                1
    (B)                                                            (B)
        100                                                              100

        1                                                                1
    (C)                                                            (C)
        20                                                               20

           1                                                             1
    (D)                                                            (D)
            2                                                             2

48. A research which involves surveys                        48.
    and fact finding enquiries is called
    as ................... research.

    (A) Analytical                                                 (A)

    (B) Applied                                                    (B)

    (C) Conceptual                                                 (C)
    (D) Descriptive                                                (D)

                                                        20
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49. If corr(x, y) = 0.70, then the coefficient        49.          corr(x, y) = 0.70

     of determination is ................... .

     (A) 0.70                                               (A) 0.70

     (B) 0.35                                               (B) 0.35


     (C) 0.49                                               (C) 0.49

                                                            (D) –0.70
     (D) –0.70

50. In writing technical report which of              50.

     the following things are given main

     emphasis ?
                                                            (i)

     (i)   the methods employed
                                                            (ii)
     (ii) assumptions made
                                                            (iii)
     (iii) the detailed presentation
                                                            (iv)
     (iv) simplicity
                                                            (v)
     (v) attractiveness

                                                            (A) (i), (iv), (v)
     (A) (i), (iv), (v)

     (B) (i), (ii), (iii)                                   (B) (i), (ii), (iii)

     (C) (iv), (v)                                          (C) (iv), (v)

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

                                                 21                                           [P.T.O.
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51. .................. is a technique for planning        51.
     and controlling complex projects and
     for scheduling the resources required
     for such projects.
                                                                (A)
     (A) Competition analysis
                                                                (B)
     (B) Network analysis
                                                                (C)
     (C) Financial analysis

     (D) Internal analysis                                      (D)

52. ....................... is based upon the             52.
     assumption that the man is a
     rational being and will try to
     maximise his pay-off.
                                                                (A)
     (A) Maslow’s model
                                                                (B)
     (B) Likert’s four system model
                                                                (C)
     (C) Ouchi’s theory Z

     (D) Vroom’s expectancy model                               (D)

53. Which one of the following is                         53.
     quantitative technique of man-
     power planning ?
                                                                (A)
     (A) Job analysis
                                                                (B)
     (B) Job description

     (C) Job rotation                                           (C)

     (D) Regression analysis                                    (D)

                                                     22
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54. Transactional analysis was devised        54.

    by .................... .

    (A) Herzberg                                    (A)

    (B) Maslow                                      (B)

    (C) Berne                                       (C)

    (D) McClealand                                  (D)

55. Which of the following is not             55.

    required for determining the

    organisation structure ?
                                                    (A)
    (A) Activity analysis
                                                    (B)
    (B) Decision analysis
                                                    (C)
    (C) Reflection analysis

    (D) Demand analysis                             (D)

56. Which one of the following is the         56.

    qualitative technique of manpower

    planning ?
                                                    (A)
    (A) Time and motion study
                                                    (B)
    (B) Trend analysis
                                                    (C)
    (C) Regression analysis

    (D) Job analysis                                (D)

                                         23                         [P.T.O.
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57. ...................... tests are used for           57.
     recruitment of individual for jobs
     demanding experience, transfer and
     promotion of existing employees and
     training purposes.
                                                              (A)
     (A) Achievement tests
                                                              (B)
     (B) Aptitude tests
                                                              (C)
     (C) Personality and interest tests
     (D) Power and speed tests                                (D)

58. ....................... is not an example of        58.
     non-financial incentive.
     (A) Improved attitude                                    (A)

     (B) Supervisory relationship                             (B)

     (C) Job satisfaction and enrichment                      (C)

     (D) Team based pay                                       (D)

59. ................... is undertaken to ensure         59.
     that capable managers are available
     to fill vacancies resulting from
     promotion, retirement, death,
     resignation and transfer.
     (A) Executive Training
     (B) Management Development                               (A)
           Programme                                          (B)
     (C) Succession Planning
                                                              (C)
     (D) Human Relations Internship
           Training                                           (D)

                                                   24
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60. Which of the following is not the                    60.
    concept of informal organisation ?

    (a) Group norms                                            (a)
    (b) Group roles
                                                               (b)
    (c) Mechanical                  hierarchical
                                                               (c)
         structure/leadership
                                                               (d)
    (d) Group cohesiveness
                                                               (A)   (a)   (b)
    (A) Only (a) and (b)
                                                               (B)   (b)   (c)
    (B) Only (b) and (c)
                                                               (C)   (c)
    (C) Only (c)

    (D) All of the above                                       (D)

61. Under what circumstance penalty                      61.
    can be imposed on a banking
    company ................... .
                                                               (A)
    (A) For       submitting           false   or
         inaccurate returns                                    (B)

    (B) When it is unable to pay its
         debts
                                                               (C)
    (C) When the business is not
         carried on for public interest
                                                               (D)
    (D) When bank accepts deposits in
         foreign currency

                                                    25                               [P.T.O.
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62. In bank guarantee, the number of             62.
    parties involved in the agreement

    are ..................... .
                                                       (A)
    (A) Three
                                                       (B)
    (B) Two
                                                       (C)
    (C) One

    (D) Four                                           (D)

63. The following one is absolutely              63.

    essential for a special crossing :

    (A) Two parallel transverse lines                  (A)

    (B) Words ‘And Company’                            (B)

    (C) Words ‘Not Negotiable’                         (C)

    (D) Name of a banker                               (D)

64. Which of the following is the purpose        64.
    of a ‘phishing e-mail’ ?
                                                       (A)
    (A) Extracting personal financial

          confidential data

    (B) Misrepresentation of facts                     (B)
    (C) Email to divert attention
                                                       (C)
    (D) Email to promote marine

          products                                     (D)

                                            26
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65. .................... is an institution of credit         65.
      where reciprocal liabilities of local
      banks are counterbalanced against
      one.                                                         (A)

      (A) Clearing house                                           (B)
      (B) Stock exchange
                                                                   (C)
      (C) Discount house
                                                                   (D)
      (D) Treasury

66. A transaction where financial                            66.

      securities are issued against the cash
      flow generated from a pool of assets
      is termed as ................... .

      (A) Securitisation                                           (A)

      (B) Credit swap                                              (B)

      (C) Credit linked notes                                      (C)

      (D) Total written swaps                                      (D)

67. ...................... is a conversion of foreign        67.
      currency bill into home currency
      liability.
                                                                   (A)
      (A) Confirmation
                                                                   (B)
      (B) Securitisation
                                                                   (C)
      (C) Domestic Capitalisation

      (D) Crystallization                                          (D)

                                                        27                         [P.T.O.
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68. This technique assumes the basic                  68.
     principle of “vital few trivial many”
     while considering the inventory
     structure of any organisation and is
     popularly known as .................. .                (A)

     (A) ABC analysis                                       (B)

     (B) Bill of material                                   (C)

     (C) EOQ                                                (D)

     (D) Perpetual inventory system                   69.           I
69. On how many pillars are the
     Basel-I Framework based ?
                                                            (A) 4
     (A) 4
                                                            (B) 3
     (B) 3
                                                            (C) 2
     (C) 2

     (D) 1                                                  (D) 1

70. ..................... is a market exchange        70.
     rate decided by supply and demand
     factors.
                                                            (A)
     (A) Floating exchange rate
                                                            (B)
     (B) Indirect exchange rate
                                                            (C)
     (C) Variable rate

     (D) Spot rate                                          (D)

                                                 28
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71. PQR company produces range of                        71.
     toothpaste, toothbrush, toothpowder,
     mouthwash and shaving creams is
     an example of .............. .

     (A) Upselling                                             (A)

     (B) Direct selling                                        (B)

     (C) Mass selling                                          (C)

     (D) Online selling                                        (D)

72. ..................... media is rural specific        72.
     media.

     (A) POPs (Point of Purchase)                              (A)
     (B) Print media press
                                                               (B)
     (C) Demonstrations, decorated
                                                               (C)
           bullock carts with advertisement
           pannels

     (D) TV shows                                              (D)

73. .................... is modern form of direct        73.
     marketing.

     (A) MOM–Mail Order Marketing                              (A)
     (B) DMM–Direct Mail Marketing
                                                               (B)
     (C) OM–Online Marketing
                                                               (C)
     (D) MM–Marketing through mobile
           phone                                               (D)

                                                    29                         [P.T.O.
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74. Marketing of services is characterised        74.
     by .................. .
     (A) Performance, intangibility,                    (A)
         variability, perishability and
         does not involve any ownership
         transfer
                                                        (B)
     (B) Tangibility, durability and
         transfer of ownership
                                                        (C)
     (C) Production, intangibility and
         can be stored
     (D) Production and consumptions                    (D)
         can be separated, ownership
         can be transferred and stored as
         per consumers expectations
75. Customer relationship has more to             75.
    do with value than relationship,
    which lies in .................. .
     (A) Customer experience, customer
                                                        (A)
         data and retaining profitable
         customer
     (B) Process involving protocol                     (B)
         offering a systematic approach
         to manage the interaction with
         customers through-customer
         retention, customer profitability
         and customer life time value
                                                        (C)
     (C) Managing customer information
         through all customer touch
         points
     (D) Any attempt made to retain                     (D)
         past customers

                                             30
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76. The .................. concept believes that        76.
     consumers will not buy enough of
     the company’s products unless it
     undertakes selling tactics and heavy
     promotion efforts.
                                                              (A)
     (A) Selling concept
                                                              (B)
     (B) Product concept

     (C) Marketing concept                                    (C)

     (D) Customer concept                                     (D)

77. Marketing companies use the                         77.
     PESTEL analysis for understanding                                      PESTEL
     the major macro environmental                                                ‘P’
     forces. In this analysis ‘P’ stands
     for ................... .
                                                              (A)
     (A) Political factors
                                                              (B)
     (B) Psychological factors
                                                              (C)
     (C) Physiological factors

     (D) Physical factors                                     (D)

78. Buying and assembling function is                   78.
     closely related with .................
     element of marketing process.

     (A) Concentration                                        (A)

     (B) Trading                                              (B)

     (C) Dispersion                                           (C)
     (D) Equalisation                                         (D)

                                                   31                         [P.T.O.
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79. Targeting affluent customers with                    79.
     luxurious goods is an example

     of .................... .
                                                               (A)
     (A) Geographic segmentation
                                                               (B)
     (B) Income segmentation
                                                               (C)
     (C) Psychographic segmentation

     (D) Behavioural segmentation                              (D)

80. ................. concept requires marketers         80.

     to balance three considerations

     company’s objectives, customer need

     and long term public interest.

     (A) Marketing                                             (A)

     (B) Societal marketing                                    (B)

     (C) Production                                            (C)

     (D) Product                                               (D)

81. Unless there is .................., there can        81.

     be no contract.

     (A) Consensus ad idem                                     (A)

     (B) A common seal                                         (B)

     (C) Goodwill                                              (C)

     (D) A profit                                              (D)

                                                    32
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82. The Maharashtra Goods and Service                   82.                             2017

     Tax Act, 2017 is published in gazette

     on .................... .

     (A) 15th June 2017                                       (A) 15     2017

     (B) 30th April 2017                                      (B) 30      2017

     (C) 12th April 2017                                      (C) 12      2017

     (D) 28th April 2017                                      (D) 28      2017

83. What is the time limit to get the                   83.                 2005

     information under RTI Act, 2005 ?

     (A) 15 days
                                                              (A) 15
     (B) 45 days
                                                              (B) 45
     (C) 60 days                                              (C) 60

     (D) 30 days                                              (D) 30

84. Section ................. of the Competition        84.              2002

     Act, 2002 deals with goods.

     (A) 2(i)                                                 (A) 2(i)

     (B) 2(a)                                                 (B) 2(a)

     (C) 2(b)                                                 (C) 2(b)

     (D) 2(h)                                                 (D) 2(h)

                                                   33                                 [P.T.O.
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85. Who can submit an application for                  85. GST-REG-09

    registration in form GST-REG-09 ?

    (A) Non-Resident Taxable Person                          (A)

    (B) Input Service Distributor                            (B)

    (C) Person Deducting tax at source                       (C)

    (D) Person Collecting tax at source                      (D)

86. Which one of the following is not an               86.                      10
    essential element of a valid contract

    as per section 10 of Indian Contract

    Act ?
                                                             (A)
    (A) Lawful consideration
                                                             (B)
    (B) Lawful object
                                                             (C)
    (C) Legal formalities

    (D) Cross offer                                          (D)

87. The finder of goods has a right of                 87.

    .................... over the goods for his

    expenses.

    (A) Care                                                 (A)

    (B) Lien                                                 (B)

    (C) Equality                                             (C)

    (D) Warn                                                 (D)

                                                  34
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88. Which of the following is not an                       88.

      example of implied consent for

      discharge of contract ?

      (A) Novation                                               (A)

      (B) Alteration                                             (B)

      (C) Merger                                                 (C)

      (D) Change of law                                          (D)

89. .................... is defined u/s 2(0) of the        89.         2002       2(0)

      Competition Act, 2002.

      (A) Price                                                  (A)

      (B) Goods                                                  (B)

      (C) Consumer                                               (C)

      (D) Competition                                            (D)

90. The first state to introduce the law                   90.

      on RTI in India was .................. .

      (A) Maharashtra                                            (A)

      (B) Punjab                                                 (B)

      (C) Goa                                                    (C)

      (D) Tamil Nadu                                             (D)

                                                      35                            [P.T.O.
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91. LPG subsidy received by an                   91.         LPG

    individual on cylinder for household

    consumption is ................. .
                                                       (A)
    (A) Exempt from Income Tax
                                                       (B)
    (B) Taxable under income from

         business
                                                       (C)
    (C) Taxable under the head ‘income

         from other sources’

                                                       (D)
    (D) It’s not an income at all

92. Which of the following methods is            92.               92 C(1)

    not specified as arm’s length price

    in relation to specified domestic

    transaction as per section 92 C(1) of

    Income Tax Act, 1961 ?
                                                       (A)
    (A) Resale Price Method

                                                       (B)
    (B) Cost Plus Method

    (C) Transactional Net Margin
                                                       (C)
         Method
                                                       (D)
    (D) Wholesale Price Method

                                            36
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93. As per section 206 AA of Income Tax                  93.               1961        206 AA
    Act, 1961, if PAN is not provided,
    the rate of TDS shall be deducted
    at :                                                       (A)

    (A) Normal rate prescribed                                 (B) 20%
                                                               (C) 30%
    (B) 20%
                                                               (D)
    (C) 30%
                                                                     20%
    (D) Normal rate prescribed or 20%,
           whichever is higher
                                                         94.                 VIII
94. Annual        interest          occurred   on
    National Savings Certificates VIII
    issue, in the hands of an individual
                                                               (A)
    shall be .................. .

    (A) Exempt from tax                                        (B)
    (B) Taxable only in 6th year
                                                               (C)
    (C) Taxable on the basis of annual
           accrual                                             (D)
    (D) On receipt basis
                                                         95.
95. The goal of tax planning is generally
    related to ................... .

    (A) Minimise taxes                                         (A)

    (B) Minimise scrutiny by income                            (B)
           tax department
                                                               (C)
    (C) Optimise after tax wealth
                                                               (D)
    (D) Maximise after tax wealth

                                                    37                                  [P.T.O.
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96. Match the following :                         96.
               Group ‘A’
                                                                            ‘A’
     (a) Compensation for loss of
                                                        (a)
         employment
     (b) Income by exploitation of forest               (b)
         under Government approved
         scheme                                         (c) 1,000
     (c) Income of a minor Rs. 1,000                    (d) 2,50,000
     (d) Dividend on shares of TISCO
         Rs. 2,50,000
                                                                            ‘B’
               Group ‘B’
                                                        (1)
     (1) Revenue receipt
                                                        (2)
     (2) Capital receipt
                                                        (3)
     (3) Income from other sources
                                                        (4)
     (4) Exempt from income tax
     Codes :
                                                              (a)   (b)   (c)     (d)
         (a)   (b)   (c)   (d)
                                                        (A) (2)     (1)   (4)     (3)
     (A) (2)   (1)   (4)   (3)
     (B) (1)   (2)   (3)   (4)                          (B) (1)     (2)   (3)     (4)

     (C) (4)   (3)   (2)   (1)                          (C) (4)     (3)   (2)     (1)

     (D) (3)   (1)   (2)   (4)                          (D) (3)     (1)   (2)     (4)
97. Which of the following types of               97.                     1961          80(G)
    donation is eligible for 50% deduction
    without any qualifying limit under
    section 80(G) of Income Tax Act,                                                     50%
    1961 ?
     (A) Donation to Government
                                                        (A)
     (B) Donation to National Children
         Fund                                           (B)
     (C) Donation to Jawaharlal Nehru
                                                        (C)
         Memorial Fund
     (D) Donation to any notified temple                (D)

                                             38
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98. Income under the head ‘Salary’ is             98.
    eligible for deduction under section                       2019-20             16(i)
    16(i) for AY 2019-20 is :

    (A) Rs. 40,000/- or amount of salary
                                                         (A) 40,000
          whichever is less

    (B) Rs. 50,000                                       (B) 50,000
    (C) Rs. 40,000 or of 1/3 of salary,                  (C) 40,000                  1/3
          whichever is less

    (D) Nil                                              (D)

99. A house property with a fair rent             99.                     1,20,000
    of Rs. 1,20,000 and municipal                                         75,000
    valuation of Rs. 75,000 is neither let
    out nor self-occupied throughout
    previous year, its annual value will
    be ................ .
                                                         (A) 75,000
    (A) Rs. 75,000
                                                         (B) 1,20,000
    (B) Rs. 1,20,000
                                                         (C) 60,000
    (C) Rs. 60,000
                                                         (D)
    (D) Nil
                                                  100.
100. ‘Indexation’ is applicable to :

    (A) Sale of short term capital asset
                                                         (A)
    (B) Sale of long term debentures
                                                         (B)
    (C) Sale of depreciable capital asset                (C)
    (D) Sale of long term capital assets,                (D)
          which are not depreciable asset

                                             39                                       [P.T.O.
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ROUGH WORK




    40
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Source: Savitribai Phule Pune University. Question paper published by Savitribai Phule Pune University.