The Indian Contract Act, 1872

Elements of a valid contract

M.Com Entrance – Delhi University

1 (b) 1872 2 (d) Incompetent Parties 3 (c) Contract 4 (a) Promise 5 (a) Contract 6 (d) All of the above 7 (a) Acceptance towards completion of unlawful act

M.Com Entrance – BHU

1 (c) Void Agreement

UGC NET | JRF

1 (c) Statement (I) is incorrect and Statement (II) is correct 2 (b) A contract which ceases to be enforceable by law

Capacities of parties

M.Com Entrance – Delhi University

1 (c) Minor’s agreements are absolutely void 2 (b) A person of sound mind 3 (d) Sane person 4 (b) May make a contract when he is of sound mind 5 (d) All of these

Free consent

M.Com Entrance – Delhi University

1 (b) Consensus ad-idem 2 (c) Void 3 (b) Due influence 4 (b) Coercion 5 (c) An act done to obtain the consent of the party 6 (c) Unsoundness of mind

M.Com Entrance – BHU

1 (a) Void 2 (a) If the court regard it is immoral

Discharge of a contract

M.Com Entrance – Delhi University

1 (c) Waiver

Breach of contract and remedies against breach

M.Com Entrance – Delhi University

1 (a) Suit for punishment 2 (d) Anticipatory breach of contract

UGC NET | JRF

1 (b) (i), (ii), (iv) and (iii)

Quasi Contract

M.Com Entrance – Delhi University

1 (a) Section 68 to 72

M.Com Entrance – BHU

1 (a) Contingent Contract

Special Contracts

Contracts of Indemnity and Guarantee

M.Com Entrance – Delhi University

1 (b) Contract of Guarantee 2 (b) Only on the occurrence of any loss to the indemnity holder

UGC NET | JRF

1 (d) Damages for liability incurred which is not absolute

Contract of Bailment and Pledge

M.Com Entrance – Delhi University

1 (a) Bailment  2 (b) Bailor 3 (a) Pawnor

Contracts of Agency

Sale of Goods Act, 1930

Contract of Sale of Goods

UGC NET | JRF

1 (c) (i) and (ii) 2 (c) Future goods

Doctrine of Caveat Emptor

UGC NET | JRF

1 (b) Buyer should be beware of all aspects of buying

Condition and Warranty

UGC NET | JRF

1 (d) (i) and (ii) only 2 (d) In case of breach, the aggrieved party can claim only damages

Rights of Unpaid Seller and rights of buyer

M.Com Entrance – Delhi University

1 (c) Right of pledge

Negotiable Instruments Act, 1930

Types of Negotiable Instruments

M.Com Entrance – Delhi University

UGC NET | JRF

1 (d) Mutual Fund 2 (d) Absolute and good title to the transferee 3 (a) (i) and (ii) only

Negotiation and Assignment

Dishonour and discharge of 

The Companies Act, 1930

Nature and kinds of companies

MCQ

1 (d) Association not for profit

M.Com Entrance – Jamia University

1 (c) The maximum number of members

M.Com Entrance – BHU

1 (a) Private company 2 (d) Special act of parliament or state assembly  3 (b)Private company 4 (a) 2 5 (b) 2 6 (a) Compulsory

M.Com Entrance – Delhi University

1 (a) Mutual agency 2 (b) Private Company 3 (d) 200 4 (a) By the article to the amount 5 (a) Unlimited company may or may not have a share capital 6 (c) A company not having any limit on the liability of its members 7 (b) The other company has a significant influence, but which is not the subsidiary company 8 (b) Holding Company

UGC NET | JRF

1 (c) Company

Companies Formation

MCQ

1 (b) Article of Association  2 (d) All of these 3 (a) Memorandum 4 (c) Directors 5 (b) Article of Association

M.Com Entrance – Delhi University

1 (b) Extension 2 (a) 30 3 (c) Insider, Company 4 (d) Person who is acting merely in a professional capacity 5 (b) Deemed prospectus

Chapter 6 : Banking Sector Reforms in India

Previous Years’ Questions

1 (a) (a)-(ii), (b)-(iv), (c)-(v), (d)-(iii), (e)-(i) 2 (a) Nationalization of commercial banks has achieved its objectives   3 (d)  All of the above 4 (c) Punjab National Bank  5 (b)Yes bank Ltd   6 (b) New Bank of India and Punjab National Bank  7 (d) Loans becoming overdue beyond 90 days  8 (b) Provision of control by a few  9 (d)(a)-(2), (b)-(3), (c)-(4), (d)-(1)   10 (c) (i) is correct but (ii) is incorrect  11 (c)Private Sector Banks   12 (d)  (a)-(iii), (b)-(ii), (c)-(i), (d)-(iv)  13 (a) (iv), (iii), (ii), (i), (v)  14 (b) Banking Companies Act, 1949  15 (b) Six months  16 (a) Collecting Banker 17 (d) Devaluated Assets  18 (d) All of the above  19(c) Reconstruction of the company or amalgamation with any other bank 20 (d) (a)-(3), (b)-(1), (c)-(4), (d)-(2)  21 (c) Sukhamoy Chakravarty Committee 22 (d) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)   23 (b)  (b), (c), (e)  24 (c) Society for worldwide Interbank Financial Telecommunications   25 (a) a (i) b (ii) c (iii)  26 (b) Statement II is correct but I is incorrect.   27 (c) Statement (I) is correct but (II) is incorrect.  28 (*)  29 (c)1995  30 (c) (a) – (iii), (b) – (iv), (c) – (ii), (d) – (i) 31 (c) Sub-standard assets, doubtful assets, and loss assets

* Wrong Options. Correct sequence – (ii), (iv), (i), (iii)

Marketing Management

CHAPTER 1: INTRODUCTION TO MARKETING MANAGEMENT

Previous Years’ Questions (UGC NET Commerce)

1D            2D        3A       4C      5B        6D   7C    8A    9B      10C     11D            12D      13A     14A     15A     16D      17C      18A       19D       20B   21D       22C      23C

Previous Years’ Questions (UGC NET Management)

1D      2B      3A    4A    5D     6C     7A         8B    9D    10A     11C   12C     13C    14D     15D    16D    17D    18D    19C    20D    21A     22D     23C     24D     25D     26D     27B    28B      29D      30B

CHAPTER 2 : MARKETING STRATEGY

Previous Years’ Questions (UGC NET Commerce)

1C     2C    3A    4C      5B    6D     7A     8A      9C     10A     11B     12C      13D     14C     15D     16*    17C    18C     19A      20C     21C      22A

* All options are incorrect. CORRECT ANS: (a) – (iii), (b) – (i), (c) – (iv), (d) – (ii)

Previous Years’ Questions (UGC NET Management)

1D     2A     3C    4C    5C     6D    7D    8D    9D     10C     11D     12C     13B     14D    15A    16D    17A     18A     19B    20A    21A

CHAPTER 3: PRODUCT DECISION

Previous Years’ Questions (UGC NET Commerce)

1B      2D    3C    4B     5B     6D    7A    8A   9A     10D     11D    12D    13C    14C    15D     16A   17D    18C    19B    20C     21D    22B    23D   24C    25D     26C    27D    28A    29D    30C    31D

Previous Years’ Questions (UGC NET Management)

1D    2C    3B    4D    5C    6B    7D   8B   9C   10D     11C    12B   13B   14B   15D    16C   17C    18B    19D   20C    21C    22B   23D   24D    25A    26A    27B   28C    29A    30A    31B    32C    33B   34A   35A    36A    37B    38C    39B    40A    41D     42C    43D    44B

CHAPTER 4: PRICING DECISION

Previous Years’ Questions (UGC NET Commerce)

1C       2B      3B      4B          5C     6C      7A          8C      9C

Previous Years’ Questions (UGC NET Management)

1A     2C     3D    4A     5D     6D    7D     8D     9B     10B      11B      12B    13B    14A       15A     16B

CHAPTER 5: DISTRIBUTION DECISION

Previous Years’ Questions (UGC NET Commerce)

1D    2C    3D    4D     5A      6C     7B    8C     9D    10B     11B    12A     13C    14B     15B     16D    17D     18A    19A    20A     21D     22A    23A     24B     25B    26C

Previous Years’ Questions (UGC NET Management)

1A    2A    3C    4B     5C    6D     7D    8D    9B    10B    11D

CHAPTER 6: PROMOTION DECISION

Previous Years’ Questions (UGC NET Commerce)

1A    2A    3D    4A      5A     6C    7A     8A     9D     10C     11C     12D     13C    14C    15B    16A    17A    18D    19D    20B    21C    22B    23D     24B    25B      26D     27C    28C     29C    30A    31D    32B    33C   34B    35A    36B    37A

Previous Years’ Questions (UGC NET Management)

1D     2C     3A      4D     5C     6C     7B     8D     9A     10D    11C    12B    13D    14B    15B    16B    17B    18D    19B    20B    21A    22D    23C     24D    25D    26A    27C    28C    29A    30C    31C    32B

CHAPTER 7: CONSUMER BEHAVIOUR

Previous Years’ Questions (UGC NET Commerce)

1B     2C     3A     4A    5D     6A     7C     8D    9A     10B     11B     12B      13D      14C      15D     16B     17C     18A      19C     20B     21A     22D     23C     24D     25A      26D      27C     28B     29B     30D     31C     32D    33A      34D     35C     36B       37A     38C     39C       40C       41B       42A       43A     44A

Previous Years’ Questions (UGC NET Management)

1A    2A      3B     4A     5A      6D     7C     8D     9A     10D     11B     12D     13B     14D     15B     16A    17B     18D     19D      20D     21D     22C     23B     24D     25D    26B    27A     28A     29C    30D     31B     32B    33C     34B     35B     36B     37B      38A      39D

CHAPTER 7: CONSUMER BEHAVIOUR

Previous Years’ Questions (UGC NET Commerce)

1B     2C     3A     4A    5D     6A     7C     8D    9A     10B     11B     12B      13D      14C      15D     16B     17C     18A      19C     20B     21A     22D     23C     24D     25A      26D      27C     28B     29B     30D     31C     32D    33A      34D     35C     36B       37A     38C     39C       40C       41B       42A       43A     44A

Previous Years’ Questions (UGC NET Management)

1A    2A      3B     4A     5A      6D     7C     8D     9A     10D     11B     12D     13B     14D     15B     16A    17B     18D     19D      20D     21D     22C     23B     24D     25D    26B    27A     28A     29C    30D     31B     32B    33C     34B     35B     36B     37B      38A      39D

CHAPTER 8: TRENDS IN MARKETING

Previous Years’ Questions (UGC NET Commerce)

1C    2C    3B   4A   5A    6B    7A    8C    9B    10D    11B    12C    13A    14C    15D    16A    17B    18B    19B    20D    21B

Previous Years’ Questions (UGC NET Management)

1D    2B    3B    4B    5C    6B    7B    8D    9B    10C    11A   12D    13D    14A    15C    16D    17A    18B    19C    20D    21C    22A    23B    24B    25C    26D    27D     28A    29C    30B

CHAPTER 9: MARKETING RESEARCH

Previous Years’ Questions (UGC NET Commerce)

1A     2D      3B     4C

Previous Years’ Questions (UGC NET Management)

1C    2B    3B     4C    5A     6D     7D     8A     9D

Business Management

Chapter 1 : Introduction to Management

COMMERCE

1C             2A           3C            4C           5A           6A         7D

MANAGEMENT

1D             2B           3A                4D

Chapter: 2 Development of Management Thought

COMMERCE

1A          2D           3C            4D           5B          6C          7B           8B             9B          10B        11C         12C        13B      14B     15D    16A       17B          18C         19A          20B           21A       22D        23D         24D         25A          26C

MANAGEMENT

1C          2D        3C         4C          5C          6B          7D        8D          9A           10A        11C       12A

Chapter: 3 Planning

COMMERCE

1D        2B         3C          4A         5D          6D        7C      8A     9C      10D     11D        12A      13C      14B        15A         16B         17B  18A       19B       20C       21D      22D       23B      24D      25C      26A          27C         28B

MANAGEMENT

1D

Chapter: 4 Decision Making

COMMERCE

1C          2B             3C              4A             5A            6C                 7C               8D               9A

MANAGEMENT

1D                2B

Chapter : 5 Organising

COMMERCE

1A         2B           3D            4C            5D          6B           7B           8A          9C           10B          11D           12B         13D          14A      15B       16C         17C          18A           19C        20D          21A       22B         23B         24B          25D          26A         27D         28B      29D       30B        31D

MANAGEMENT

1D        2C         3B          4D            5B

Chapter : 6 Delegation and Decentralisation

COMMERCE

1B      2C      3C        4C       5C        6B

Chapter : 7 Organisational Communication

COMMERCE

1C       2A          3A          4B         5B         6B       7B        8B          9A         10C        11D         12A        13A       14B

MANAGEMENT

1B        2A         3B       4A        5B               6A                7C           8D

Chapter: 8 Staffing

COMMERCE

1C

MANAGEMENT

1D           2D              3D            4A

Chapter : 9 Motivation

COMMERCE

1B            2D       3D           4B         5B           6B           7A            8A             9D         10C        11D         12A         13C        14B              15B          16B      17A        18D        19A          20C        21B         22D           23B         24A        25A        26A

MANAGEMENT

1C       2B          3C         4A          5B           6C          7A          8C        9D          10D        11B         12A         13D         14C         15C        16B     17B      18C        19D        20C        21C         22D

Chapter : 10 Directing & Leadership

COMMERCE

1C           2B            3C        4C          5A         6C         7D       8D          9C         10C         11A         12C         13B           14A

MANAGEMENT

1D        2A           3B          4C           5D         6B         7D       8B          9D      10B            11B

Chapter : 11 Controlling

COMMERCE

1B       2B         3C        4B        5B         6B            7B           8A

Chapter : 12 Organisational Behaviour – Individual Dimension

COMMERCE

1A          2C            3A

Chapter : 13 Organisational Behaviour – Group Dynamics

COMMERCE

1D       2B        3B          4A        5B

MANAGEMENT

1A       2D      3A         4C      5A       6B        7C         8C          9A

Chapter : 14 Organisational Development & Culture

COMMERCE

1C        2D         3C         4D

MANAGEMENT

1A        2D      3A       4C         5A         6C       7D           8A

Chapter : 15 Corporate Governance & Business Ethics

COMMERCE

1D       2D         3D         4B          5A           6C        7C         8D        9D        10C        11C           12D         13A         14D             15A

Human Resource Management

CHAPTER 1: INTRODUCTION TO HRM

Commerce

1A          2D            3A           4C        5A          6C            7D         8B     9B         10D         11C     12D           13B      14C        15*           16B          17C        18B      19C        20C         21C        22C

* a – iii, b – i, c – ii, d – iv

Management

1A            2D         3D        4*         5C      6B       7D       8B       9C       10C      11B

*None of the given options

CHAPTER 2: JOB ANALYSIS & JOB DESIGN

Commerce

1C           2A           3C        4C          5A           6C           7B          8B         9C         10D       11B         12D

Management

1C          2B         3C        4C          5A           6B          7B          8A          9A          10B         11A        12A           13B           14B        15C    16D       17D       18D       19A

CHAPTER 3 : HUMAN RESOURCE PLANNING

Commerce

1A         2D          3B            4D          5B           6A          7B          8B

Management

1A       2B           3B           4D          5D         6D          7B           8A

CHAPTER 4: RECRUITMENT, SELECTION & INDUCTION

Commerce

1B           2C          3B        4A           5D        6A          7C         8B         9B        10C        11B          12D          13D         14A         15C        16B       17C         18A       19C       20D       21B        22B       23C       24A     25C         26C        27D          28B         29B

Management

1C        2D          3C          4B          5A       6B         7D         8C            9B           10C        11D       12C         13C          14C         15A          16D     17C       18B

CHAPTER 5: TRANSFERS, PROMOTION & SEPARATION

Commerce

1B        2C       3B        4A         5D            6C           7D

Management

1A        2B        3B         4D        5B         6D          7C            8A          9D            10C            11A        12B

CHAPTER 6: TRAINING & DEVELOPMENT

Commerce

1C       2C       3C      4B      5C     6C      7D     8B     9A        10A     11D    12B      13D     14A   15D    16D    17D        18D         19A

Management

1C       2C     3B     4A     5C     6B     7B     8C     9B     10B    11D     12B     13B    14C     15C     16B     17A    18A

CHAPTER 7: COMPENSATION

Commerce

1D      2C      3C      4C       5A     6A     7D     8C     9A       10A     11D     12D    13B     14A    15B    16B     17A    18B    19C     20B    21B      22C     23B       24B      25C        26C

Management

1C     2C     3B        4C    5A    6C     7D    8B    9D      10B     11C     12C    13C     14C     15B    16D     17C    18D    19B     20C     21C     22A     23B     24A    25A    26B     27C    28C    29C    30A    31A     32B

CHAPTER 8: APPRAISAL

Commerce

1B       2D      3D     4B     5B     6A      7C      8C     9A     10D     11B      12D     13B      14C    15D      16C    17C      18C     19C    20C    21A    22C     23C    24C    25A    26B    27C     28D    29C    30C    31D    32B    33A      34A    35C    36A    37D   38A    39D      40C        41A          42A

Management

1D    2B    3B    4B    5D    6D    7D    8A     9B     10B    11D     12A    13C    14B     15C      16*       17D      18A    19C      20B

* All options indicate disadvantages.

CHAPTER 9: EMPLOYEE WELFARE

Commerce

1A     2C      3A     4B      5A    6B     7A         8B

Management

1B     2D     3A     4C     5C     6B

CHAPTER 10: EMERGING TRENDS IN HRM

Commerce

1A     2B     3A      4B      5C         6A

Management

1C     2B     3D    4D    5B

CHAPTER 11 : INDUSTRIAL RELATIONS

Commerce

1C     2C     3B    4B    5D    6C   7C     8D    9A   10B    11D    12C    13D    14D     15B    16C    17C    18B       19B       20A        21A      22D        23D

Management

1D    2C    3A    4C    5A    6B    7A     8C    9D     10B    11C   12C    13B    14C    15C    16A    17B     18D    19D       20C     21B    22D    23B    24C    25C    26C   27C     28B    29B     30C    31C    32A     33A    34D    35C    36B    37D     38A    39C    40B     41D     42C     43D    44D     45A    46B     47D

CHAPTER 12 : LABOUR UNION & COLLECTIVE BARGAINING

Commerce

1B     2D     3B    4C     5B      6A     7C     8A

 Management

1D     2C     3B    4D     5C    6B     7B       8C     9D     10B     11D      12C       13B      14C      15B    16A     17B     18B      19D     20A     21C    22D

CHAPTER 13: INDUSTRIAL LAWS

Commerce

1D      2B      3A      4C     5A    6B    7C    8C     9C

 Management

1D    2B      3B      4D     5A     6B     7D     8A      9D      10B     11C     12A      13C      14C       15C

1. DATA : TYPES, COLLECTION & ANALYSIS

EXERCISE

1B      2C      3B      4C        5B

PREVIOUS YEARS QUESTIONS

1D      2C       3D        4A        5C        6D          7A        8B         9C         10A         11C        12A         13C         14C       15D

 2. MEASURES OF CENTRAL TENDENCY

EXERCISE

1A      2A             3B       4B          5C        6B        7A        8A       9A      10D       11A        12C        13B         14B        15C    16C       17C       18B      19A       20B      21A      22D     23D*     24C      25C     26A       27C       28C          29**     30D

* 59.83

** Wrong Question (All the given options are Positional Measures)

PREVIOUS YEARS QUESTIONS

1D       2C        3B        4C         5C         6*        7A          8D        9B        10C

* a-ii, b-iv, c-i, d-iii

3.MEASURES OF DISPERSION

UGC NET

EXERCISE

1C     2D       3B       4B, D            5C          6C       7B           8D        9A         10A         11A       12D         13B          14D      15D    16D      17C      18A        19D         20C       21B         22B       23D        24B        25B        26B        27D       28A      29C    30A      31D     32A      33A          34C        35C     

PREVIOUS YEARS QUESTIONS

1A         2C           3A           4B

 4.MOMENTS, SKEWNESS & KURTOSIS

UGC NET

EXERCISE

1C       2A         3A         4C           5B         6A         7B        8A       9C          10C         11D         12C         13C            14A       15B

PREVIOUS YEARS’ QUESTIONS

1C        2B         3D         4A        5B

5.  PROBABILITY CONCEPTS

UGC NET

EXERCISE

1C           2D       3B          4D*       5C        6D          7B         8C         9A         10C       11D         12C         13D         14A        15B       16A      17A         18C        19A     20D       21C        22D**   23A      24C       25A       26A         27A

* The Ans. is 7/8

** The Question is:  Mark the incorrect statement

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1B      2C      

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1D        2C       3B         4B           5C        6C        7C        8C          9B         10C         11C         12B         13C         14C          15D     16D     17C        18*       19A      20A

* a-iv, b-i, c-ii, d-iii

6. PROBABILITY DISTRIBUTIONS

EXERCISE 1

1A        2A           3D           4A            5D            6A          7B         8A         9C         10D

EXERCISE 2

1C      2B        3B        4C          5A           6B        7B        8C

EXERCISE 3

1B        2A         3A       4C          5A          6*         7A         8A         9C**

*Not in syllabus

** Fourth Central Moment of a Normal Distribution = 3

${\sigma }^4$

= 3

${\left(Variance\right)}^2$

= 3

$\times$ $4^2$

= 48

MISCELLANEOUS EXERCISE

1A      2B       3A         4A        5A       6C       7C       8B           9A        10D         11C        12A          13C        14C         15A

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1B      2C          3D        4A          5D           6A         7D

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1B       2D        3A        4B      5D        6A        7B          8B         9A         10A         11A        12D        13D         14A        15D    16A       17D      18C    19C      20D     21D       22A       23D        24D       25*       26B        27D          28C            29C     30A      31A

*a-ii, b-iii, c-i

7.  SAMPLING & SAMPLING DISTRIBUTION

UGC NET

EXERCISE

1C        2C         3C           4A        5D        6B         7C         8B

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1B       2A        3C            4A        5A         6*       7C           8B         9A        10A        11C          12D           13B         14B         15C     16A     17A         18C       19C      20C    21D        22B       23B      24C       25C         26A          27D         28B          29C

*a-iv, b-ii, c-i, d-iii

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1D       2B      3C         4B       5C        6C        7C        8C         9B         10C        11C       12B

8.  ESTIMATION & CONFIDENCE INTERVALS

EXERCISE

1A        2C   3A      4C        5B        6D         7B        8B        9A         10B      11C        12A           13C        14B        15D

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1D         2B       3C

 9.  HYPOTHESIS TESTING: LARGE SAMPLES

EXERCISE

1B     2A      3B          4B        5B       6A       7A          8C         9B        10D          11D        12B        13C         14*     15D        16A    17B     18A      19C      20B      21A

* Wrong options

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1B      2A      3A     4B      5D     6C       7C       8D       9C        10B         11D        12D        13B       14C        15A         

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1B         2B         3A        4A          5B      6B       7B         8*      9C

* a-i, b-ii, c-i, d-i

 10.  HYPOTHESIS TESTING: SMALL SAMPLES

EXERCISE

1D        2D        3B        4C         5D       6B

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1C      2A        3B        4D         5D        6C        7B         8B         9A        10A      11D       12D      13A        14A      15A     16A

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1C

11.  PARAMETRIC & NON-PARAMETRIC TESTS

EXERCISE

1A      2B         3B          4D         5A         6C         7A         8A        9D       10C     11C,A      12C        13A       14D        15B     16A

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1D     2D       3C        4B        5C        6D        7C      8B      9B       10C         11A       12B       13C      14A        15B      16B       17B    18D    19C      20D     21A      22B

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1A       2B      3B        4C        5D      6A       7C       8B         9B       10D       11A      12C         13C       14B        15A           16C    17B     18D     19D      20A       21D       22D       23D

12.  THEORY OF ATTRIBUTES

EXERCISE

1C         2D         3A        4D          5C

PREVIOUS YEARS’ QUESTIONS

1A

13.  CORRELATION & REGRESSION ANALYSIS

EXERCISE

1A       2C          3A          4C       5C         6C          7D          8A        9C        10B       11D        12D       13B          14B      15A    16A      17*       18D       19A      20C       21B

* Correct Ans = 0.05

PREVIOUS YEARS’ QUESTIONS (COMMERCE)

1D         2A          3A          4B           5C         6A         7B         8D        9B        10B       11B         12A         13B       14D      15A       16A       17C        18A          19A       20*        21A       22A       23**     24D      25D        26C       27B      28D        29D      30A      31D        32B         33B      34B

* a-iv, b-ii, c-i, d-iii

** a-iv, b-iii, c-i, d-ii

PREVIOUS YEARS’ QUESTIONS (MANAGEMENT)

1B       2D      3B       4B      5A         6B        7C         8B          9C          10D         11A         12C        13C        14A        15D  16D      17D     18A      19A     20D      21A       22A        23B       24*    25D

* a-iii, b-i, c-ii

                                                                 14   RESEARCH : MEANING, TYPE & METHODS

15   RESEARCH DESIGN

PREVIOUS YEARS’ QUESTIONS

1C

16  RESEARCH REPORT

BUSINESS ECONOMICS

Chapter 1 : Nature & Uses Of Business Economics

Exercise

1 (C) Insufficiency of resources to satisfy our wants 2 (C) Price Theory 3 (B) Macroeconomics 4 (C) Factor Pricing 5 (B) Business Management 6 (D) scarcity

Previous Years’ Questions

1 (D) Individual and social choice in the face of scarcity 2 (C) Individuals choose the alternative for which they believe the net gains to be the greatest 3 (B) Both (A) and (R) are correct 4 (B) Positive 5 (D) All of the above 6 (C) Deals with the tools of economics used for decision making in business 7 (B) Distribution theories like rent, wages and interest along with the theory of profit 8 (C) Statement (I) is correct while statement (II) is incorrect

Chapter 2 : Demand Analysis

Exercise

1 (A) Ability to buy  2 (B) Inverse 3 (B) Demand schedule 4 (A) Downward from left to right  5 (B) Decreases  6 (D) Complementary goods  7 (B) Complementary goods 8 (C) Increase in price of the good 9 (B) Contraction in demand  10 (D) Decrease in demand   11 (A)  Change in price of the good  12 (D) Inferior good  13 (C) It is the change in quantity demanded of a good as a result of the change in real income due to change in price of the good 14 (B) Slopes downward to the right  15 (D) Sudden rains and floods decreases the sale of Diwali crackers 16 (B) Substitute goods 17 (C) Increase in the price of Luxor Ball pens 18 (A) Rises 19 (A) Rises  20 (C) Positively sloped  21 (A)  Increase in price of goods  22 (B) Inferior goods  23 (A) Demand curve shift to left  24 (A) Slope Upward  25 (A) Demand increases  26 (C) Bread and meat  27 (B) Hicks and Allen  28 (B) Qualitative statement  29 (C) Remain unchanged  30 (B) Both (A) and (R) are incorrect 31 (C) (A) is correct (R) is incorrect 32 (C) (A) is false (R) is true 33 (C)  (A) is false (R) is true  34 (D) (a)-(v), (b)-(iii), (c)-(iv), (d)-(i)  35 (C) (a)-(ii), (b)-(i), (c)-(iv), (d)-(iii)

Previous Years’ Questions

1 (C) Change in climatic conditions  2 (D) (A) is incorrect but (R) is correct 3 (C) (a)-(iii), (b)-(i), (c)-(ii)  4 (B) Downward  5 (D)  All of these  6 (B) Composite Demand  7 (D) (a)-(ii), (b)-(iv), (c)-(i), (d)-(iii)  8 (D) All of these 9 (B) (A) is true but (R) is false 10 (B) Normal goods 11 (C) Future expectations  12 (D) Both (A) and (R) are correct but (R) does not offer full explanation of (A) 13 (B) Expansion or contraction of demand

Chapter 3 : Elasticity of Demand

Exercise

1 (D) Perfectly inelastic demand 2 (A) Positive 3 (A) 4 (A) Less elastic 5 (A) One 6 (C) More than one 7 (B) Price of related goods 8 (B) Inelastic, elastic 9 (A) Perfectly elastic 10 (D) Elastic 11 (A) Positive 12 (B)  5.25 13 (C) 1.50  14 (A) 0.5   15 (C) More than one  16 (C) Substitutes  17 (A) One   18 (C) Remains the same  19 (A) A necessity  20 (A) the curve closer to origin is more elastic.  21 (C) may have same price elasticity of demand.   22 (C) MR = 0   23 (C) Elastic  24 (B) Wooden tennis racquets and metallic tennis racquets   25 (D) Very high   26 (D) Inferior goods  27 (A) 28 (C) The flatter curve is more elastic  29 (B) Salt   30 (C)  Zero 31 (C) (A) is correct (R) is incorrect  32 (B) (A) is true but (R) is false   33 (B)  Only 1 and 3  34 (B)  (A) is true but (R) is false 35 (D) (A) is incorrect but (R) is correct

Previous Years’ Questions

1 (B)  Negative    2 (D) All of these   3 (B)  Highly elastic   4 (A) Price Elasticity of Demand   5 (B) More than one 6 (D)  Geometrical method   7 (B) Unit elastic     8 (D) Highly elastic  9 (A)  Cross Elasticity of Demand   10 (C) e = ∞11 (C) Unequal slopes and equal point elasticities 12 (C) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii)   13 (B) Price elasticity equal to unity   14 (B) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)   15 (D) Equal to zero   16 (B)  17 (D) Statement (I) is incorrect while statement (II) is correct

Chapter 4 : Demand Forecasting

Exercise 1 (A)  the irregular component 2 (B) Delphi approach 3 (C) moving average

Previous Years’ Questions

1 (B) Total outlay method

Chapter 5 : Cardinal Utility Analysis

Exercise

1 (B) Demand curve 2 (A)  Its expected social value 3 (B) Equi-marginal utility 4 (C) Gossen’s first law 5 (C) MU is zero 6 (B) Marginal utility 7 (C) Zero 8 (B) Law of equi-marginal utility   9 (B) Price and MU are equal  10 (B)11 (B) The consumer will buy more of X to attain equilibrium. 12 (A) 13 (A) Both (A) and (R) are correct 14 (C) (A) is correct (R) is incorrect  15 (A) Both (A) and (R) are correct

Previous Years’ Questions

1 (B) decreases  2 (D) Alfred Marshal  3 (C) equal  4 (D)  (A) is false but (R) is true  5 (A)  6 (A) Both (A) and (R) are true  7  (C)  8  (C)  Zero 9 (B)  The proportions of the marginal utilities 10 (A) Cardinal measurability of the utility   11 (A) Both (A) and (R) are true 12 (C) I II IV 13 (B) Constant marginal utility from successive units

Chapter 6 : Ordinal Utility Analysis

Exercise

1 (B) Positively sloped 2 (C) A movement down a given indifference curve 3 (B) Positively sloped 4 (A)   Negatively sloped 5 (C) Price Consumption Curve 6 (C)  X good, then bad, Y good   7 (C) Consumer’s income changes  8 (C) along an indifference curve 9 (D) Both B and C  10 (B) Ordinal utility 11 (A) the two goods are perfect substitutes 12 (B) the good measured on x-axis is an inferior good  13 (C) MRS_XY is constant   14 (A) Vertical bias 15 (C) income effect is negative, substitution effect is positive and substitution effect is stronger 16 (B) North-west  17 (C) measured on y-axis is a neuter 18 (B) Unit elastic 19 (A) Good X is a necessity  20 (B) Horizontal  21 (B) Convex to the origin 22 (B) Y is an inferior good 23 (A) when consumer becomes either better or worse off because price change in not compensated by income change 24 (A) partially offsets the substitution effect  25 (A)  a higher indifference curve 26 (A) Both (A) and (R) are correct 27 (B) (A) is true but (R) is false 28 (A) Both (A) and (R) are true  29 (A) Both (A) and (R) are correct   30 (D) (A) is incorrect but (R) is correct

Previous Years’ Questions

1 (A) MRS_XY = P_X / P_Y  2 (B) Both (I) and (II) are true 3 (C) Is tangent to an indifference curve  4 (A) Same satisfaction   5 (D) The marginal rate of substitution is decreasing 6 (A) In case of inferior goods, the income effect is negative, although the substitution effect is positive  7 (C)  (a)-(iii), (b)-(i), (c)-(ii), (d)-(iv) 8 (C) Change in Y-Commodity divided by change in X-commodity 9 (B) (a)-(iv), (b)-(iv), (c)-(ii), (d)-(i)  10 (C)  bifurcation of price effects into income and substitution effects 11 (B) Indifference curves of two imperfect substitutes are concave to the point of origin

Chapter 7 : Revealed Preference Theory

Exercise

1 (C) Revealed Preference Analysis  2 (A)  Strong ordering 3 (D) Observed consumer behaviour  4 (A) must provide the maximum satisfaction to the consumer 5 (B) the consumer prefers the chosen combination over all other combinations

Previous Years’ Questions

1 (C) Paul Samuelson  2 (B) a (iii) b (iv) c (i) d (ii)

Chapter 8 : Production Function

Exercise

1 (B) The change in the slope of the isoquant 2 (D) Increase by less than 10%  3 (A) 3  4 (D) All of these 5 (C) The amount of capital that can be substituted by labour  decreases 6 (D) Stage I for labour 7 (D)  Marginal product   8 (C) Managerial diseconomies 9 (B) The relative prices of inputs 10 (D) Both B and C 11 (C) Constant returns 12 (C) MRTS_XY will be constant 13 (C) the different combinations of inputs that can be used to produce a fixed rate of output 14 (A) it is impossible to vary the quantity used in the short run 15 (A) the least costly combination of inputs required to produce various levels of output 16 (A) Technically efficient   17 (C) Marginal product of both labour and land is positive but decreasing 18 (B) Are perfect complements 19 (A) Constant 20 (C) Horizontal 21 (C) (A) is false (R) is true 22 (A) Both (A) and (R) are correct 23 (C) (A) is incorrect (R) is correct  24 (A) Both (A) and (R) are true   25 (C) Kinked

Previous Years’ Questions

1 (C) Decreasing returns to scale 2 (A) Law of Variable Proportion 3 (B) TP rises at an increasing rate    4 (C) Marginal production is zero 5 (A) Both 1 and 2 are correct 6 (A) R is appropriate reason of  A   7 (D) All of the above conditions are fulfilled  8 (B) (A) is true but (R) is false 9 (B) (a)-(ii), (b)-(i), (c)-(iii)  10 (B) (b) (c) (d) 11 (C) I II IV 12 (A) Both the statements are true 13 (C) Statement – I is true while statement -II is false.   14 (A) a (iv) b (iii) c (i) d (ii)

Chapter 9 : Supply & Elasticity of Supply

Exercise

1 (B) Flow concept 2 (B) Other goods become more profitable  3 (A) Shift in Supply curve 4 (C) 0.833  5 (C) Unitary elastic supply 6 (B) Flow concept  7 (D)  The amount of goods offered for sale at a particular price per unit of time 8 (B) 0.5 9 (B) 1.00 10 (B) 0.5 11 (B) Proportionate change in supply is greater than proportionate change in price 12 (A) Both (A) and (R) are correct 13 (D) Fall in price of other goods 14 (A) Infinity  15 (B) Price

Previous Years’ Questions

1 (B) The desire for a commodity backed by ability and willingness to pay is demand 2 (B) the degree of the elasticity of demand as well as the degree of the elasticity of supply in the inverse direction.

Chapter 10 : Theory of Cost

Exercise

1 (D) Rise at an increasing rate  2 (D) Either the slope of TVC curve or the slope of TC curve 3 (A) Economies of scale 4 (D) None of the above is correct 5 (A) Always true 6 (C)  Average variable costs 7 (A)  Normal profits   8 (D) marginal costs are lower than average costs 9 (D)  the shape of LAC depends on changing returns to scale   10 (D) Is all of these 11 (B) AFC 12 (C) When MC exceeds AC, AC must be rising 13 (A) Explicit Costs 14 (D) Diseconomies of scale 15 (A) Rs.20,000/year 16 (B) Never 17 (C) Sunk Cost  18 (C) Average Cost  19 (B) AC is minimum 20 (C) LMC 21 (C)    22 (C) Learning Curve 23 (A) Both (A) and (R) are true  24 (A) Both (A) and (R) are true   25 (A) Both (A) and (R) are true 26 (A)  27 (A) Both (A) and (R) are true    28 (A) Diseconomies of scale.

Previous Years’ Questions

1 (C) Cost of next best alternatives 2 (B) AFC curve    3 (C) (a)-(ii), (b)-(iii),  (c)-(i), (d)-(iv) 4 (C) TFC = TC – TVC 5 (D)The cost of forgone opportunities  6 (B) (A) is true but (R) is false  7 (C) Marginal cost must be below average cost 8 (A) Owner supplied resources 9 (A) Rs.200 and Rs.200 10 (D) (a)-(ii), (b)-(i), (c)-(iv), (d)-(iii)   11 (A)(a)-(i), (b)-(iii), (c)-(iv), (d)-(ii) 12 (C) I, III & IV

Chapter 11 : Concepts of Revenue

Exercise

1 (C)  Price   2 (B) MR = Price 3 (A) Both (A) and (R) are true  4 (A) Both (A) and (R) are true

Previous Years’ Questions

1 (B) Zero  2 (A) Zero

Chapter 12 : Theory of Perfect Competition

Exercise

1 (D) MR = MC and MC is rising 2 (B) A constant cost industry 3 (D) Continue to operate as it is 4 (B) marginal revenue exceeds marginal cost by the greatest amount 5 (D) All the above 6 (C) input prices will decline 7 (A) the level of profit 8 (D) Marginal cost equals price 9 (A) The rising portion of its MC curve over and above the shut-down point  10 (C) Economies of scale 11 (C) Input prices will rises 12 (C) Input prices will decline 13 (A)  horizontally summing the marginal cost curves for each firm in the industry 14 (D) any of the above 15  (B) upward sloping from left to right 16 (B)  Perfect mobility of factors 17 (B) Demand Curve 18 (C) Earns super normal profits 19 (B) Earn normal profit 20 (A) Supply Curve 21 (A)  Perfectly Elastic 22  (B)  Demand Curve 23 (B)  Industry  24  (A) Increase its production    25  (A) AVC   26 (A) Industry is operating at minimum point of AC curve

Previous Years’ Questions

1 (D) A firm is price taker under perfect competition 2 (A) is part of economic cost  3 (A) Only (i) is true 4 (B) Supernormal profits 5 (A) MR = MC 6 (B) Marginal revenue is equal to rising marginal cost 7 (B) MC = MR 8 (B)  only (ii) and (iii) 9 (B) MR = MC 10 (A) Both (A) and (R) are true 11 (A) MR = MC 12 (A) Both (A) and (R) are true 13 (D) Marginal cost is higher than average cost 14 (A) 24 15 (A) Both (A) and (R) are true 16 (D) (a) (c) (d) 17 (A) Pure profit is the return in excess of the opportunity cost

Chapter 13 : Theory of a Monopoly Firm

Exercise

1 (D) Any of these  2 (A) Blocked entry 3 (D) in the less elastic market 4 (A) Greater than one 5 (C) a monopoly firm will never sell where the price elasticity of demand is elastic 6 (A)  MC = MR < AR  7 (B)  only under monopoly situation 8  (A) 9 (A) higher price means falling total revenue 10 (C) a monopoly causes a redistribution of income 11  (A)  MR = SMC 12  (D)  any of the above is possible 13 (B) TR is declining  14 (A) An inelastic demand 15 (D) Either B or C 16  (C) 17 (B)  Different markets  18 (C) Fixed cost 19 (C)  Marginal Revenue  20 (B) Charge higher price 21 (B)  Less-MR, more-MR   22 (D)  MR =MC  23 (B) Second Degree Price Discrimination

Previous Years’ Questions

1  (A) Dumping  2 (C) Monopoly  3 (B)  Seller should be an MNC  4 (D) All of these  5 (B) Different Elasticity of Demand 6 (C)  Monopolist operates on an inelastic demand curve 7 (A) maximise the sales/profit 8 (A) Both (A) and (R) are true 9 (A) Market power 10 (A) Both (A) and (R) are true 11 (C) Inelastic demand 12 (D) Marginal Cost much below average cost 13 (D) produce below economic capacity level when he exhibits satisfaction with normal profit only

Chapter 14 : Theory of Monopolistic Competition

Exercise

1  (A) Elastic  2 (C)  Earns normal profit 3 (C)  Earns super normal profits  4 (C)  Can influence the price to a certain extent 5 (D) MR of a firm can even be zero or negative 6 (B) More 7 (B) Highly elastic  8 (B)  Monopolistic Competition  9 (C) AVC is equals to price at the profit maximizing level of output 10 (A) a firm will make no economic profit or loss 11  (B) Very high 12 (B)  More 13 (D) produces an output smaller than that given by minimum average total cost.

Previous Years’ Questions

1  (c)  Product  2 (a) Monopolistic competition

Chapter 15 : Oligopoly

Exercise

1 (D) All of the above 2 (D)  All of the above 3 (A) Elastic 4 (C)  Syndicated Oligopoly 5  (C) 6 (C)  Kinked  7 (A) Elastic 8 (C) Syndicated Oligopoly  9 (C) Partial Oligopoly  10 (C) Kinked  11 (B) Oligopoly

Previous Years’ Questions

1 (A)  Collusion among rival firms  2 (A) Inter firm rivalry 3 (C) It is always beneficial for a firm in a perfectly competitive market to discriminate market  4 (B)  Perfect competition  5 (A) (a)-(i), (b)-(ii), (c)-(iii), (d)-(iv) 6 (B)   (iii), (i), (ii), (iv)  7 (B)  Oligopoly  8 (A) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)  9 (A)  (a)-(iv), (b)-(iii), (c)-(ii), (d)-(i)  10 (A) (a)-(2), (b)-(3), (c)-(1), (d)-(4) 11 (D) All the above  12 (C) (i)-(d), (ii)-(b), (iii)-(c), (iv)-(a) 13 (D) Sweezy

Chapter 16 : Pricing Policies and Strategies

Exercise

1 (C) Penetration pricing  2 (C) two-part pricing 3 (B) value-based pricing 4 (A)  value-based pricing   5 (B) market-layer pricing   6 (A) market-penetration pricing 7 (B) setting a low initial price to penetrate the market quickly and attract a large number of buyers to win a large market share 8 (B) Complementary-product pricing 9 (B) (a)-(2), (b)-(3), (c)-(4), (d)-(1)

Previous Years’ Questions

1  (C)  Product-line pricing  2  (B)  2 and (a)  3  (B) (a)-(2), (b)-(3), (c)-(4), (d)-(1)   4  (D) (a)-(3), (b)-(4), (c)-(2), (d)-(1) 5 (A)  (I)-(b), (I)-(c), (III)-(a) 6  (C)  price elasticity of demand in the market is highly elastic     7 (B)  Assertion (A) and Reason (R) both are correct 8  (B) I, II and III only 9  (B)  (a)-(iii), (b)-(i), (c)-(ii), (d)-(iv)  10 (A) Ramsey pricing rates to the methodology of pricing to situations where firms are regulated and the maximization of allocative efficiency is the objective of pricing together with the objective of profit maximization 11  (D) Product line pricing   12  (B) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii)  13 (D) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)   14 (B) II III IV 15 (B) iv , iii , i, ii     16  (A) Assertion (A) and Reasoning (R) both are correct but (R) does not offer full explanation for (A)  17 (C)  I  II  IV  18  (A) (A) is correct but (R) is not correct  19  (C) Product to have very low cross elasticity of demand 20  (C)  Statement – I is correct while Statement – II is incorrect

Accounting And Auditing

Chapter 1 : Basic Accounting Principles

Accounting Terminology

MCQ

1 (b) Liability 2 (a) Assets 3 (c) Capital 4 (c) Profit and Loss Account (Credit Balance) 5 (c) Patents 6 (a) Current Liability 7 (d) Preliminary expenses A/c 8 (d) Not an asset 9 (a) Liabilities which are payable within 12 months 10 (d) Intangible Assets 11 (b) Long term assets where benefit in the operations of the firm is likely to extend beyond one accounting period 12 (d) Lease Rights 13 (c) Current Assets 14 (d) All of the above 15 (b) Livestock 16 (a) Goods for resale 17 (b) Debtor 18 (a) Creditor 19 (a) Debtors 20 (a) Current assets

M.Com (Entrance)

1 (b) Liability 2 (c) By way of deduction from capital in Balance Sheet 3 (b) Assets 4 (c) Inventory 5 (a) Assets 6 (b) An assets and a liability 7 (b) Plant and Machinery

PGT – Commerce

1 (a) Liabilities

UGC N.E.T

1 (d) Long Term Loans 2 (b) (iv)

MPhil PhD in Commerce

1 (b) An assets and a liability

Accounting Basics

UGC N.E.T

1 (c) Assets + Liability = Equity 2 (d) Total Assets minus total outside Liabilities 3 (c) Capital + Liabilities = Assets

Chapter 2 : Concepts and Postulates

MCQ

1 (c) Separate Entity 2 (a) Cost 3 (c) Cost Concept 4 (d) Both (a) and (b) above 5 (a) Cost Concept 6 (d) Both (a) and (b) above 7 (d) Materiality 8 (c) Accounting Period Concept 9 (c) Materiality Concept 10 (d) Money Measurement Concept 11 (b) Conservatism Concept 12 (b) Going Concern Concept 13 (c) Accrual Concept 14 (b) Rs. 40,000 15 (a) Rs. 300 as Prepaid 16 (c) Rs. 11,50,000 17 (c) Business Entity Concept 18 (d) Liquidation Value 19 (b) Creating Provision for Discount on Creditors 20 (c) Provision for bad and doubtful debts is created in recognition of conservatism concept

PGT – Commerce 

1 (b) Convention of disclosure 2 (a) Suggest the companies to prepare financial statements on the basis of a systematic time interval, even though the operating cycle(s) of the entity may be incomplete

M.Com (Entrance)

1 (a) Understatement of assets 2 (d) Entity Concept 3 (a) Convention of full disclosure  4 (c) By Joint Venture Firms 5 (b) Business entity 6 (a) Convention of full disclosure 7 (c) Accrual basis and Double entry system 8 (b) Associating effort (cost) with accomplishment (revenue) 9 (a) Goodwill 10 (b) Conservatism 11 (d) Going Concern 12 (c) Conservation 13 (*) 14 (b) Accrual basis 15 (c) After it has been earned , but not before 16 (c) Matching Concept 17 (b) Leads to the reporting of more complete information than does cash basis accounting 18 (c) Consistency  19 (a) Conservatism principle

UGC N.E.T

1 (d) Separate Entity 2 (c) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii) 3 (c) Separate Entity 4 (d) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii) 5 (c) True and Fair concept 6 (a) Certain assumptions 7 (d) (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i) 8 (c) Convention of Disclosure 9 (a) Taking care of the future losses 10 (d) Prudence 11 (c) Conservatism 12 (a) (a)-(iv), (b)-(ii), (c)-(iii), (d)-(i) 13 (b) Business entity concept 14 (b) (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i) 15 (a) Both (A) and (R) are correct and (R) is the right explanation of (A)  16 (a) Both the Statement I and II are correct

Chapter 3 : Partnership Accounts

Admission of New Partner

MCQ

1 (b) 3:3:1  2 (b) 12:16:7 3 (b) 3/7 :3/7 4 6:8:4:2:5  5 3:2:2  6 2:1:1  7 (a) 21:11:8 8 (a) 6:2:2  9 (a) 75:48:37 10 (c) 2:2:1  11 (a) 1/3 :1/3: 1/6: 1/6 12 (a) 3:1 13 (d) 1:2 14 12:8:5:5 15 5:3:7:5 16 Rs.50,000 17 Rs.1,00,000 18 (c) A and B (equally) 19 (b) x only 20 (b) Unrecorded investment A/c ……..Dr. 5,000 To Revaluation A/c 5,000 21 (a) loss Rs.28,000 22 (a) Rs.30,000 23 (d) Rs.22,500 24 (a) 2,60,000 : 2,06,000 : 50,000

PGT – Commerce

1 (a) Rs.4,00,000 2 (d) Rs.25,000 3 (b) x only 4 (c) 4:2:3

M.Com (Entrance)

1 (a) 2:1:1 2 (b) 2:2:3

UGC N.E.T

1 (c) 5:3:1:1 2 (c) 2:3 3 (c) 4:1 4 (c) 4:2:3 5 (c) C’s A/c debited for Rs.3,000 6 (b) 6:5:3 7 (b) Rs.27,500  8 (b) 28:21:14:9 9 (d) 1:3  10 (c) 1:1 11 (c) Rs.7,500 12 (d) 29 : 11 : 30 13 (c) 6 : 4 : 5

Retirement and Death of a Partner

MCQ

1 (b) 5:1 2 (d) 1:1 3 (a) 1:2 4 (a) 3:2  5 (a) 1:2  6 (d) only y gain by 1/3  7 (b) Rs.8,000 and Rs.4,000 8 (c) Rs.71,000  9 (a) Rs.70,820 10 (a) 70,800 11 (c) Rs.65,000 12 (c) Rs.3,200 13 (b) Rs.750 14 (b) Rs.15,000 15 (b) Rs.6,000

UGC N.E.T

1 (c) 4:1 2 (b) If he does not give public notice 3 (d) Loan

Dissolution of Partnership Firm

M.Com (Entrance)

1 (a) Cost of dissolution 2 (c) Capital ratio which stood prior to dissolution

UGC N.E.T

1 (d) By the insolvency of all but one partner 2 (c) (i), (ii), (iii), (iv) 3 (b) In the profit sharing ratio

Chapter 4 : Issue, Forfeited and Reissue of Shares

MCQ

1 (c) Authorized Share Capital 2 (b) Calls-in-arrears 3 (a) Part of Subscribed uncalled Capital 4 (b) Created out of capital profit 5 (a) That part of uncalled capital which has to be called up in the event of winding up of the company. 6 (c) Rs. 1,99,000 7 (Rs.57,000) 8 (Rs.69,000) 9 (d) Rs. 12,000 10 (a) Rs.3,000 11 (c) Participating preference shares 12 (d) Security Premium Account 13 (d) Unlimited 14 (d) Written of the expenses / discount on the issue of debentures 15 (d) Reserve and Surplus 16 (c) Both (a) & (b) 17 (a) Security Premium 18 (d) Prospectus 20 (Rs.5) 21 (Rs.5) 22 (d) 25.0% of the issue price of shares 23 (c) Date of receipt of calls-in-advance to the date of appropriation of the call 24 (Rs.1,875) 25 (a) Rs. 25 26 (c) Rs.125.00 27 i(c) 1250 shares, Rs. 2,750 27 ii (c) 400 shares ; Rs. 600 27 iii (d) Rs. 300 shares Rs. 240

PGT – Commerce

1 (d) Rs. 78,000 2 (a) 3,60,000 3 (b) Writing off the Preliminary expenses 4 (d) Owners of the company 5 (d) Liabilities side of the Balance Sheet 6 (c) Called up amount of shares 7 (a) Fixed 8 (d) Rs. 8

M.Com (Entrance) – Delhi University

1 (c) Called up amount 2 (d) Paid up capital 3 (b) Prospectus 4 (d) Rs. 18,000 5 (d) Issue of fully paid bonus shares 6 (c) Nil 7 (d) Called up amounts 8 (d) Rs.80 9 (a) Writing off preliminary expenses 10 (a) Capital Reserve 11 (c) Rs.200 12 (a) When application money is received but balance sheet is prepared before allotment of shares 13 (b) Purchase of Fixed Assets

M.Com (Entrance) – Jamia University

1 (a) Rs. 50,000 2 (c) 5 shares for every 6 shares applied 3 (c) Paid up Capital

UGC -NET

1 (a) Issue, Application, Call and forfeiture 2 (b) Rs. 700 3 (c) Both (A) and (R) are true but (R) is correct explanation of (A) 4 (c) Goodwill Account 5 (a) Rs. 4,500 6 (d) When forfeited share are issued at premium, the premium amount is credited to capital Reserve Account. 7 (c) 48 8 (c) Rs. 25 9 (a) Rs. 4 per shares 10 (a) Payment of dividends 11 (d) iii – (ii) – (iv) – (i)

Redemption of Preference Shares

MCQ

1 (a) Rs. 20,000 2 (d) Rs. 50,000 3 (a) 3,00,000 4 (a) Rs. 50,000 5 (b) 5,000 shares 6 (b) Rs. 55,000 7 (a) Revaluation Reserve

PGT – Commerce

1 (d) None of the above

M.Com (Entrance) – Delhi University

1 (b) Capital Redemption Reserve 2 (b) Rs. 1,50,000 3 (d) Capital redemption Reserve 4 (b) Profit prior to incorporation 5 (c) Rs.1,20,000

M.Com (Entrance) – Jamia University

1 (c) Capital Redemption Reserve

UGC N.E.T

1 (b) Bonus shares 2 (d) Partly paid equity shares are issued as bonus shares 3 (d) None of the above 4 (c) Rs. 1,28,000

Chapter 6 : Acquisition, Merger, Amalgamation and Reconstruction of Companies

Accounting for Amalgamation

MCQ

1 (c) Pooling of interest Method 2 (c) The statutory reserve of the transferor company 3 (b) The assets, liability and statutory reserve of the transferor company 4 (b) General reserve 5 (c) Adjusted against reserve and profit and loss account of the transferee company immediately. 6 (b) Purchase Method 7 (d) The assets, liabilities and reserve of the transferor company 8 (b) At their Book Value 9 (c) At Agreed Value 10 (c) Liquidation Expenses 11 (c) Bank A/c 12 (b) Goodwill A/c

M.Com (Entrance)

1 (a) Realization A/c 2 (b) Amalgamation in the nature of purchase 3 (b) Goodwill A/c 4 (b) The shareholders 5 (a) An acquisition’s purchase price 6 (a) Absorption 7 (a) Realisation Expenses Account ………. Dr. To Bank Account

UGC N.E.T

1 (c) Net-payments method 2 (a) Total net Assets / No. Of Shares 2 (a) No adjustment is required in the books of the transferor company 3 (c) Goodwill 4 (b) Goodwill or Capital reserve arises only when the amalgamation is in the nature of merger

Internal Reconstruction

MCQ

1 (b) When the assets are overvalued 2 (b) No new company is formed 3 (c) Internal Reconstruction 4 (c) Internal Reconstruction 5 (c) Internal Reconstruction 6 (b) When a company has been making losses for a number of years 7 (d) (d) All of these 8 (d) (d) All of these 9 (c) Reconstruction Account 10 (c) Capital Reduction Account 11 (b) Share Capital Account 12 (d) All of the above

M.Com Entrance

1 (c) Capital Reserve A/c 2 (d) All of the above

UGC N.E.T

1 (a) Internal Reconstruction 2 (c) (ii) and (iii) only 3 (d) All of the above

Chapter 7 : Holding Company Accounts

MCQ

1 (c) Preference shares of other company 2 (b) Single Balance Sheet of Holding & Subsidiary company

M.Com (Entrance)

1 (a) Immediately after share capital 2 (a) Capital Profit 3 (d) Associated undertaking

UGC N.E.T

1 (b) (A) is true, but (R) is wrong 2 (b) No effect on the consolidated balance Sheet 3 (b) Capital Profit 4 (c) Mandatory for Listed Companies 5 (d) Rs. 48,000 6 (c) In form and substance the companies are one entity 7 (b) AS 21

Chapter 8 : Marginal costing and Break –even- analysis

PGT Commerce

1 (d) 12% 2 (d) 1,000 units 3 (a) Total revenue is equal to total cost 4 (a) Fixed cost + profit  5 (a) Volume

M.Com (Entrance)

1 (d) Production volume decreases 2 (b) Rs. 6,000 3 (b) 12% of total sales 4 (b) Rs. 2,40,000 5 (c) 60% 6 (a) Rs. 1,00,000 7 (c) Rs. 24,000 8 (c) Rs. 2,00,000 9 (c) Rs. 3,00,000 10 (b) Sales = Variables Cost + Fixed Cost + Profit 11 (d) Increase in Break-even Point 12 (d) All of the above 13 (d) All of these 14 (d) All of the above 15 (b) Inventory quantities change during the year 16 (c) Rs. 152 17 (c) Rs. 120 lakhs 18 (b) 30% 19 (c) Rs. 300 lakhs 20 (b) Inventory quantities change during the year 21 (c) Rs. 7,20,000 22 (b) Increase in breakeven level 23 (d) A relevant range of volume 24 (b) 150 25 (a) 25 % 26 (a) 10,909 units 27 (a) Which do not change in total during given period despite change in output

UGC N.E.T JRF – Commerce

1 (a) 5,000 units 2 (a) Profit and Volume 3 (c) Relationship between cost and sales 4 (b) Rs. 1,50,000 5 (b) Contribution is also known as Gross margin 6 (c) 3 and 4 7 (b) Sales – Variable cost 8 (d) All of the above 9 (b) 20% 10 (a)  11 (c) Rs. 55,000 12 (b) 88,000 units 13 (d) Required sales to earn desired profits = (Desired Profit)/(P/V Ratio) 14 (a) Rs. 400 15 (d) (i) , (ii) and (iii)

UGC N.E.T JRF – Management 

1 (a) (Actual Sales – Break Even Sales) / Actual Sales 2 (c) Rs. 26,40,000 and 1,42,000 units

MPhil PhD in Commerce

1 (b) Rs. 18,00,000 2 (c) 110 %

Chapter 9 : Standard Costing

PGT Commerce

1 (b) The selling department is responsible for factory overhead volume variance 2 (d)  Maximum Capacity and Actual capacity 3 (d) All of the above 4 (a) In time less than the standard

M.Com (Entrance)

1 (d)  Labour efficiency variance 2 (d) Production 3 (a) Price increase of raw material 4 (b) Rs. 8,000 Favorable 5 (c) Control cost  6 (a) Simplified costing procedures and expedite costs reports 7 (b) When material is purchased 8 (c) 12,960  9 (a) Production 10 (c) Material mix variance 11 (c) Rs. 1,200 12 (b) The use of pre-determined levels of price and performance as standard 13 (b) Under applied or over applied Fixed cost element of factory overhead

UGC N.E.T

1 (d) Pre-defined period 2 (a) Both (A) and (R) are correct and (R) is the Reason for (A) 3 (d) Ideal Standard 4 (c) (Standard Wage Rate – Actual Wage Rate) × Actual hours worked 5 (c) a- iii; b- ii; c-i; d-iv 6 (a)  Standard labour time indicates the time in hours needed for a specific process 7 (c) Only adverse variances are investigated intensively 8 (a) Standard costs are based on scientific analysis and engineering studies while estimated costs are based on historical basis

Chapter 10 : Budgetary Control

M.Com (Entrance)

1 (c) Planning, performance evaluation and feedback control  2 (a) Total variable costs 3 (b) Budgeted balance sheet

UGC N.E.T

1 (c) Master Budget 2 (c) Summary Budget 3 (d) Fixed, semi-variable and variable expenses 4 (d) A statement of budget and forecasts 5 (d) Budgets do not pinpoint the lack of efficiency or the presence of it. 6 (d) A flexible budget can be prepared for any production level within a relevant range but a static budget is based on one specific level of production. 7 (c) Only revenue nature cash flows are shown

Chapter 11 : Process Costing

MCQ

1 (c) Split off point 2 (a) Abnormal loss 3 (b) Increase in unit price of other good units

PGT Commerce

1 (c) Ship -building 2 (b) Pharmaceutical industry

M.Com (Entrance)

1 (c) Batch Costing 2 (c) Batch Costing 3 (c) Ship -building 4 (a) FIFO and Simple Average Price Method 5 (c) Job Order Costing 6 (a) By products – No ; Scrap – No 7 (b) Current costs plus cost of beginning work in process inventory 8 (c) Scrap and normal spoilage but not abnormal spoilage 9 (c) An indirect cost of Jobs  – Yes; A necessary element in production  10 (a) Abnormal – No ; Normal – Yes  11 (c) Indirect Cost – Yes; Product Cost – Yes 12 (c) Scrap and normal spoilage but not abnormal spoilage 13 (c) Rs. 14,437.50

Chapter 12 : Activity Based Costing (ABC)

M.Com (Entrance)

1 (c) Batch Costing

Chapter 13 : Decision Making

M.Com (Entrance)

1 (a) Direct material and labour costs in producing the order 2 (c) Variable costs 3 (d) Unchanged fixed cost 4 (d) Contribution margin 5 (c) An opportunity cost of the company 6 (b) Sunk cost

UGC N.E.T

1 (b) Total Cost 2 (b) Only (A) is correct, but (R) is wrong 3 (d) All of the above 4 (b) (A) is correct but (R) is not correct.

Chapter 14 : Life cycle costing, Target costing, Kaizen costing and JIT

Chapter 15: Ratio Analysis

PGT Commerce

1(c) Interest Coverage 2(b) Firm’s debt servicing capacity   3(a) 5  4(c) Rs. 2,00,000 5(c) Have no effect on current ratio 6(d) PAT / No. of shares Outstanding 7(c) 1 : 1   8(a) Realization of cash from debtors 9(b) Equity Share 10(b) (Total debt)/(Net worth)

M.Com (Entrance)

1 (c) Collection period ratio 2 (d) Rs.22,000 3 (b) Rs.8,000 4 (b) Rs.75,000 5 (a) Current ratio 6 (b) Solvency ratio 7 (b) Rs. 75,000 8 (b) 2:1     9 (d) Assess the financial health of the company 10 (c) Rs.90,000

UGC N.E.T JRF – Commerce

1 (c) (a)-(iii), (b)-(i), (c)-(ii), (d)-(v)  2 (d) Average collection Period 3 (b) Delay in recovery 4 (a) (a)-(i), (b)-(ii), (c)-(iii), (d)-(iv) 5 (d) Current Assets / Current Liabilities 6 (a) (a)-(iv), (b)-(iii), (c)-(i), (d)-(ii) 7 (a) (i), (ii), (iii) and (iv) 8 (b) Quick Ratio 9 (a) All (i), (ii) and (iii) and (iv) are correct 10 (d) None of the above 11 (d) a-(iii) b-(i) c-(iv) d-(ii) 12 (a) (ii), (iv), (iii) and (i) 13 (a) Both (A) and (R) are true and (R) is the correct explanation of (A) 14 (c) 3 months 15 (d) All of the above 16 (c) Debt-Equity Ratio 17 (b) (a)-(2), (b)-(3), (c)-(4), (d)-(1) 18 (b) 40% 19 (c) Rs. 1,00,000 20 (d) Rs. 30,000 21 (a) Net profit Ratio × Capital turnover Ratio 22 (b) 2.4 times 23 (c) 4 times 24 (d) Rs. 12,000 25 (c) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii) 26(b) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii) 27 (c) Capital gearing is the ratio of equity capital to fixed-interest bearing securities. 28 (d) a-iii b-i c-iv d-ii 29 (a) Both (A) and (R) are correct and (R) is the correct reason for (A) 30 (c)  Both (A) and (R) are incorrect 31 (b) Higher operating ratio indicates higher profits 32 (b) Decrease in inventory by Rs. 36,000

UGC N.E.T JRF – Management

1 (c) Rs. 80,00,000 2 (d) None of the above 3 (d) None of the above 4 (b) Gross Profit ratio 5 (d) Price / Cash flow ratio 6 (c) a, b and d 7 (d) Number of times surplus covers interest and instalments of Term Loans 8 (c) Rs. (−) 50,000 9 (d) Statement (I) is true and Statement (II) is false

MPhil PhD in Commerce

1 (c) 1 month 2  (c) Debt to equity Ratio

Chapter 16: Fund Flow Statement

PGT Commerce

1 (d) Both (A) and (R) are correct and (R) is the correct explanation of (A)   2 (b) Payment of dividends is a use of funds 3 (d) Increase or decrease in working capital

M.Com (Entrance)

1 (d) Retirement of long term by issue of preferred capital

UGC N.E.T

1 (d) Current Assets – Current Liabilities 2 (d) Building sold on credit 3 (b) Rs. 30,000 4 (d) All of the above 5 (a) Realization of cash from debtors 6 (b) (ii) and (iii) 7 (b) Working Capital 8 (d) Only (d) 9 (c) (b), (c), (e)

Chapter 17: Cash Flow Statement

PGT Commerce

1 (d) Rs. 2,68,000 2 (c) Net profit + non-cash expenses + decease in current assets 3 (c) Rs. 10,000

M.Com (Entrance)

1 (c) Cash basis 2 (c) Sale of automobile by an automobile dealer 3 (b) Investing 4 (c) Rs. 30,000 5 (d) None of above 6 (c) Whether the company has exceeds its overdraft limit during the year

UGC N.E.T

1 (b) Short term highly liquid securities 2 (c) 3    3 (c) Cash in hand and demand deposits in banks 4 (c) Cash Flow Statement 5 (d) Interest on loan 6 (a) (A) and (R) both are correct and (R) is an explanation of (A) 7 (a) I, II, III 8 (a) Decrease in creditors 9 (d) I, II 10 (a) I, II, III

Chapter 18 : Human Resource Accounting

MCQ

1 (a) Capitalization of Historical Cost model

UGC NET Commerce

1 (a) Brauch Lev & ABA Schwartz2 (a) Hckimian and Jones 3 (a) HR Accounting 4 (b) Stochastic Reward Valuation model 5 (b) The historical cost approach 6 (a) Assertion (A) and Reasoning (R) are correct and (R) is the right explanation of (A) 7 (b) Opportunity cost approach 8 (c) Human Resource Accounting  9 (b) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)

MPhil PhD in Commerce

1 (c) Human Capital

Chapter 19 : Inflation Accounting

UGC NET Commerce

1 (d) Erosion of capital 2 (c) Current Cost Accounting Method

Chapter 20 : Environmental Accounting

UGC NET | JRF Commerce

1 (c) Value of employees of the organization 2 (b) (a)-(iv), (b)-(i), (c)-(iii), (d)-(ii)

Chapter 21 : Indian Accounting Standards and IFRS

Exercise

1 (a) Companies 2 (c) Both (a) and (b) 3 (b) AS 10 4 (b) Cannot over-ride 5 (a) Is replaced by AS – 26 6 (d) All of the above 7 (b) Valuation of inventories 8 (b) Accounting standards 9 (d) 26 10 (a) Corporate bodies 11 (d) All the three 12 (c) Financial Investment Recognition & Measurement 13 (b) Institute of Chartered Accountants of India 14 (c) Royalties receivable

M.Com (Entrance)

1 (d) International Accounting Standards Board 2 (d) Revenue arising from sale of goods and rendering of services 3 (a) Define accounting practice at a time 4 (d) Depreciation accounting

UGC NET Commerce

1 (d) 1977 2 (b) (a)-(iv), (b)-(iii), (c)-(ii), (d)-(i) 3 (c) Depreciation Accounting 4  (b) (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i)

Chapter 22 : Environmental Accounting

UGC NET | JRF Commerce

1 (c) (i), (iii) and (iv)

Chapter 23 : Recent Trends in Auditing

Business Environment & International Business

Chapter 1 : Concepts and Elements of Business Environment

MCQ

UGC NET

1 (c) Trade Policy 2 (d) None of these 3 (Not any in given option) (a)-(ii);(b)-(iii);(c)-(i);(d)-(iv) 4 (a) Both (A) and (R) are correct 5 (c) Money and Capital Market 6 (b) (a)-(2);(b)-(3);(c)-(1);(d)-(4) 7 (c) Customers 8 (b) (i)-(b); (ii)-(d); (iii)-(a); (iv)-(c) 9 (d) Protect the public from the negative consequences of business behaviour 10 (b) Demographic environment 11 (c) (ii), (iv) and (v) 12 (a) Economic 13 (d) Macro Environment – External Environment – Customers – Prospects of Business – Development 14 (d) (i),(ii),(iii) and (v) 15 (c) Complementary Produce 16 (b) (a)-(iii);(b)-(i);(c)-(ii);(d)-(iv) 17 (c) (a)-(ii);(b)-(iii);(c)-(i);(d)-(iv) 18 (b) Both (A) and (R) are correct and (R) is the correct explanation of (A) 19 (b) Both the statements I and II are correct 20 (d) Both the statement I and II are correct 21 (a) (a)-(ii);(b)-(iv);(c)-(i);(d)-(iii) 22 (a) (a)-(iii);(b)-(i);(c)-(iv);(d)-(ii) 23 (b) (a) – (iii), (b) – (i), (c) – (iv), (d) – (ii) 24

Chapter 2 : Economic Environment

MCQ

1 (d) Both (a) and (b)

UGC NET

1 2 3 4 (a) The sum of budgetary deficit and net increase in internal and external borrowings 5 (a) The Ninth Plan 6 (a) Laissez-Fare System 7 (d) All of the above 8 (c) 8% 9 (b) 9 % 10 (a) Inclusive growth 11 (b) Public sector 12 (d) None of the above 13 (a) National Development Council 14 (a) Deficit financing 15 (b) Capitalistic economic system 16 (d) All of the above 17 (b) (i), (ii), (iv) and (vii) 18 (b) Janta Government 19 Wrong question 20 (a) To increase liquidity in the economy 21 (a) (i)-(b), (ii)-(d), (iii)-(a), (iv)-(c) 22 (c) Dr. Vijay C. Kelkar 23 (d) (i), (ii), (iv) and (vi) 24 (b) (i), (ii), (iii) and (iv) 25 (c) 11th 1998 2000 N.K.P. Salve 26 (d) (i), (iii) and (iv) 27 (a) UNDP 28 (a) GNP at factor cost 29 (a) (a)-(iv), (b)-(iii), (c)-(i), (d)-(ii) 30 (a) To increase liquidity in economy 31 (d) Introduction of competition in all sectors 32 (c) Net Personal Income 33 (d) ii iii i iv 34 (a) 5th 35 (b) Statements (II) and (III) 36 (c) (iii)(iv)(ii)(i) 37 (b) Monetary Policy 38 (b) The country’s major means of production are either owned by the Government or their use is controlled by the Government 39 (a) Five year planning approach

Chapter 3 : Political Environment

MCQ

UGC NET

Chapter 4 : Legal Environment

MCQ

UGC N.E.T

 7 (a) Both (i) and (ii) are correct 8 (b) State Consumer Disputes Redressal Commission) 9 (d) Regulation of Combinations. 12 (d) None of the above 13 (a) Act of Parliamentarians in Lok Sabha 14 (a) (a)-(ii), (b)-(i), (c)-(iii), (d)-(iv) 15 (d) None of the above 16 (c) SEBI 17 (c) National Consumer Disputes Redressal Commission 18 (b) A service provided free of cost 19 (c) Services provided free of cost. 20 (d) None of the above is true. 21 (c) Right to a physical environment that will protect and enhance quality of life. 22 (c) Charging very high price 23 (d) Both (A) and (B)  25 (c) A complaint involving a claim of Rs. 15 Lakhs is to be filled before the state commission 26 (a) A consumer court setup under the consumer protection Act, does not have the power to punish for its   contempt. 27 (c) (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i)  29 (c) The Trade marks Act 1999 does not apply to services 30 (b) Two years 31 (d ) Both B and C above 32 (a) (i), (ii), (iii) and (v) ) 33 (c) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii) 34 (d) Information Technology Act, 2000 35 (a) Local forum   36 (d)  Statement – II is true but Statement – I is false. 37 (b) iii  i    iv  ii 38 (b) State consumer dispute redressal commission 40 (d) The value of goods and services sold 41 (c) State monopolies, government’s business policies and functioning of Regulatory Authorities cannot be scrutinized under this law.

Chapter 5 : Socio-cultural factors and their influence on business; Corporate Social Responsibility (CSR)

1 () 2 (d) (ii), (iii), (i), (iv) 3 (a)(ii), (iii),  (i) and (iv) 4 (a) (iii), (iv), (ii), (i) 5 (b)(a)-(ii), (b)-(iii), (c)-(iv), (d)-(i) 6 (b) Prohibition of Restrictive Trade Practices

Chapter 6 : Scope-and importance of international business; Globalization and its drivers; Modes of entry into international business

UGC NET

 5 (d) All of the above 7 (c) A and B above 9 (c) Obsolescence 11 (a) Promotion of free trade  15 (c) Both A and B 16 (a) Both (A) and (R) are true and (R) is correct explanation of (A) 19 (a) (A) and (R) both are correct and (R) is correct explanation of (A).

Chapter 7 : Theories of International Trade; Government intervention in International Trade; Tariff and non tariff barriers; 

1 (c) Adam Smith 2 (d) David Ricardo  3 (a) David Ricardo  4 (a) Bertic Ohlin  5 (b) X will export wheat and import cloth  6 (b) Bertil ohlin 7 (a) David Richardo  8 (c) (a)-(3), (b)-(1), (c)-(4), (d)-(b) 9 (a) Leontief Paradox  10 (d) (A) and (R) both are correct and (R) is the correct explanation of (A) 11 (d) Both Statements I and II are correct 12 (b) Product life cycle theory  13 (c) All the statements (i), (ii) and (iii) are correct 14 (a)  (1) ii (2) iv (3) iii (4) i 15 (a) Adam Smith

India’s Foreign Trade Policy

COMMERCE

1 (d)  2 (b)  3 (c)  4 (d)     5 (b)  6 (a)  7 (c)   8 (a)  9 ()  10 ()  11 (c)  12 (a)   13 (a)  14 (d)   15 (c)  16 (b)  17 (d)  18 (d)  19 (b)  20 (d)  21 (c)  22 (d) 23 (a) 24 (a) 25 (c) 26 (d) 27 (c) 28 (c)

MANAGEMENT

1 (c) 2 (b) 3 (d) 4 (d) 5 (b) 6 (c) 7 (d) 8 (c) 9 (d)

Chapter 8 : Foreign Direct Investment (FDI)

Chapter 9 : Balance of Payment (BOP)

Chapter 10 : Regional Economic Integration

COMMERCE

1 ()   2 (a)   3 (b) 4 (a)   5 (c)  6 (c)  7 (b)  8 (c)  9 (b)  10 (d)  11 (d)  12 (b)   13 (a)  14 (c)  15 ()  16 (c)  17 (d)  18 (b)  19 (d)   20 (c)  21 (c) 22 (c)

MANAGEMENT

1 (d) 2 (c) 3 (a) 4 (c) 5 (b) 6 (b) 7 (d) 8 (b) 9 (a)

Chapter 11 : International Economic Institutions

Chapter 12 : World Trade Organisation (WTO) 

COMMERCE

1 (c)  2 (a)   3 (c)   4 (c)    5 (a)  6 (d)   7 (c)   8 (b)   9 (a)   10 (c)  11 (b***)  12 (b)  13 (c)   14 (d)  15 (a)   16 (d)  17 (b)   18 (a)   19 (c)   20 (c)  21 (c)  22 (d)  23 (d)   24 (a)  25 (b)  26 (b#)  27 (a)  28 (c)  29 (c)  30 (c)  31 (a)  32 (c)  33 (c)  34 (c)  35 (c)  36 (d)  37 (d)  38 (b)  39 (d)  40 (c)  41 (c)  42 (c)  43 (d)  44 (b)  45 (a)  46 (b)  47 (c)  48 (a)  49 (a)   50 (d)

MANAGEMENT

1 (c) 2 (d) 3 (b) 4 (c) 5 (d) 6 (a) 7 (b) 8 (b) 9 (a) 10 (b) 11 (c) 12 (b) 13 (a)

Business Finance

Chapter 1 : Scope & Source of Finance

M.Com Entrance – Jamia

1 (d) Retained earnings

U.G.C. N.E.T Commerce

1 (a) Procurement of funds and their effective utilization 2 (a) Both correct 3 (c) Maximization of shareholders’ wealth 4 (d) Maximization of social benefits 5 (c) Financing decisions

U.G.C. N.E.T Management

1 (d) Capitalisation Decision 2 (c) Maximise the wealth of Equity shareholders 3 (d) Social responsibility 4 (d) I, II & III 5 (b) Earnings per share are more important than total profits. 6 (a) (A) and (R) both are correct. 7 (c) (a), (b) and (d) 8 (c) Analysing variance between standard costs and actual costs 9 (a) (a) and (b) only

Chapter 2 : Lease Financing

MCQ

1 (c) Operating Lease

UGC NET Commerce

1 (c) (a)-(iii), (b)-(ii), (c)-(i), (d)-(iv) 2 (c) Leveraged lease 3 (c) Leveraged lease 4 (d) (a), (b) and (c) 5 (d) (i), (iii) and (iv) 6 (a) Liquidity crisis

Chapter 3 : Cost of Capital and Time Value of Money

PGT Commerce

1 (a) Earning yield method

U.G.C. N.E.T Commerce

1 (c) Expectations of investors for dividend 2 (a) External yield criterion 3 (d) (d)-(iv) 4 (b) Composite cost 5 (b) Opportunity cost to the firm 6 (d) Market risk premium for the firm 7 (a) Capital Assets pricing model 8 (b) Both (A) and (R) are true 9 (c) 18.8% 10 (c) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i) 11 (c) 6.66 per cent 12 (c) Yield of Capital Sacrifice 13 (b) 14 (d) I III IV 15 (c) Tax deductible of interest 16 (c) Cost of capital does not comprise any risk premium 17 (c) Yield to maturity method 18 (d) Equity shares have high risk than debts 19 (d) Equity shareholder would demand higher return 20 (c) Retained earnings 21 (d) 10.53 % 22 (d) 13 % 23 (c) 6.18 %

U.G.C. N.E.T Management

1 (d) Dividend yield + expected growth rate in dividends 2 (d) D1/P0 + g 3 (d) 4 (c) 5 (a) 4.38% 6 (c) 10.53% 7 (b) 13% 8 (d) Capital assets pricing model 9 (a) Net cash inflow at the time of issue 10 (b) Proportion of different sources of finance

Chapter 4 : Capital Structure

M.Com Entrance – Jamia

1 (d) All of the above

U.G.C. N.E.T Commerce

1 (b) Net Operating Income Approach 2 (d) All of the above 3 (d) Transferability 4 (a) Ratio between different forms of capital 5 (b) Trading on borrowed funds 6 (c) (i) is correct (ii) is incorrect 7 (c) Shortage of capital 8 (d) (d)-(iv) 9 (d) Capital Structure 10 (a) M-M Hypothesis 11 (c) Net Operating Income Approach 12 (b) Net income approach 13 (c) Comparative Analysis 14 (c) Unity for dividend payout ratio 15 (a) Assertion (A) and Reason (R) both are correct and (R) is correct explanation of (A). 16 (a) I, II and IV only 17 (b) Statement I is correct but Statement II is incorrect 18 (c) Rs. 10,80,000 19 (a) Share Capital + Reserves + Long Term-Debts 20 (b) I II III 21 (d) Statement – I is wrong and Statement – II is correct. 22 (c) Tax deductible of interest 23 (b) (A) is correct , but (R) is wrong 24 (b) M. M. Model 25 (a) Gross Profit Approach 26 (b) (A) is not correct but (R) is correct 27 (a) Both (A) and (R) are correct but (R) is the right explanation of (A) 28 (a) Net Operating Income Approach

U.G.C. N.E.T Management

1 (a) (ii) and (iv) 2 (a) Market price of equity share is maximum 3 (c) Capital gearing 4 (c) a(ii) b(i) c(iv) d(iii) 5 () 6 (b) (A) is correct but (R) is incorrect. 7 (a) EBIT that produces the same level of EPS for two alternative capital structures. 8 (d) Good 9 (b) (i)-d (ii)-c (iii)-a (iv)-b 10 (d) Equity, preference and debt capital 11 (b) (a),(b) and (c) only

MPhil PhD in Commerce

1 (c) iii, i and ii

Chapter 5 : Capital Budgeting

PGT Commerce

1 (a) 0. 25%  2 (b) (Riskless cash flow )/(Risky cash flow ) × Investment  3 (c) Planning of expenditure for assets

U.G.C. N.E.T Commerce

1 (b) Present value  2 (c) Rs. 30,000  3 (d) All of these  4 (b) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii) 5 (c) (i), (iii), (ii), (iv), (v), (vi) 6 (b) Capital Budget 7 (a) Ascertain risk 8 (c) K < R 9 (c) Accounting rate of return 10 (b) Internal Rate of Return 11 (c) Only (iii) is correct 12 (c) (a)-(iv), (b)-(iii), (c)-(i), (d)-(ii) 13 (d) Cash flow before depreciation and after taxes 14 (b) Principle of discounting 15 (d) All of the above 16 (c) Average Rate of Return 17 (b) iii, ii, i, v, iv 18 (d) Intangible benefits 19 (b) Profitability index method 20 (b) Net present value method 21 (b) Both (A) and (R) are correct 22 (b) (A) is true, but (R) is a necessary condition, but not a sufficient condition 23 (b) Internal Rate of Return Method 24 (b) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii) 25 (b) That limited funds are available for investment 26 (d) Risk Free Rate 27 (c) Existing investment in a project is not treated as sunk cost 28 (b) (b) and (c) 29 (c) Net Profit after tax + Depreciation 30 (d) It is very difficult to calculate. 31 (c) I II IV 32 (d) Existing investment in a project is not treated as sunk cost. 33 (d) Risk Free Rate 34 (b) Capital budgeting decisions are reversible in nature 35 (b) Internal Rate of Return 36 (a) Statement -1 is correct, but statement – II is wrong 37 (c) Present value of cash outflows 38 (c) Internal Rate of Return 39 (b) Discount rate 40 (c) (i), (ii) and (iii) only 41 (c) (ii) and (iii) 42 (b) (1) – (iii); (2) – (iv); (3) – (i); (4) – (ii)

U.G.C. N.E.T Management

1 (c) Internal Rate of Return 2 (a) Present values of all the cash flows expected to occur over the life of a project 3 (b) Payback method considers cash flows only up to the payback period 4 (c) The Net Present Value is zero 5 (a) Payback method 6 (b) Internal Rate of Return 7 (d) 1, 2 and 3 8 (b) Sensitivity analysis 9 (d) Profitability index 10 (b) ii iii iv i 11 (b) ii iii iv i 12 (c) (A) and (B) both 13 (a) Only (a) is correct. 14 (d) Statements IV and I are correct 15 (c) 3 years and 6 months 16 (c) – Rs. 217 17 (b) a-(iv) b-(iii) c-(ii) d-(i) 18 (d) a, b and c all 19 (c) a, b and d 20 (d) Evaluating the returns and investment in projects. 21 (c) (a) and (c) only

Chapter 6 : Working Capital Management

PGT Commerce

1 (c) Redemption of debentures

U.G.C. N.E.T Commerce

1 (c) (i), (v), (ii), (iii), (iv) 2 (d) Expenditure to acquire capital 3 (c) Both (1) and (2) are correct 4 (c) Both (A) and (R) are correct 5 (a) (i) and (ii) both are correct 6 (b) (ii), (iii) and (iv) 7 (c) (a)-(ii), (b)-(iii), (c)-(iv) 8 (d) (i), (ii) and (iv) 9 (a) Long term Capital Funds 10 (c) William J. Baumol 11 (*) 12 (c) Net working capital 13 (b) I, III and IV only 14 (c) I, III and IV only 15 (b) Both statements are incorrect 16 (d) Optimum order size 17 (b) Total carrying cost 18 (a) Decentralized Collection 19 (d) (a), (c), (d) 20 (a) Letter of Credit 21 (b) I, III, IV 22 (b) (a), (b), (c), (e) 23 (d) II IV 24 (c) A and C 25 (a) (a)-(ii), (b)-(iii), (c)-(i), (d)-(iv) 26 (c) (1)-(iv), (2)-(iii), (3)-(i), (4)-(ii) 27 (b) Short-term funds have been used for fixed assets 28 (b) 9487 units 29 (d) Cash 30 (a) Raw material conversion period, work-in-progress conversion period, Finished goods conversion period, Receivables conversion period

U.G.C. N.E.T Management

1 (c) Increase in bad debts 2 (b) Corporate Tax 3 (c) Cash Management 4 (b) William J. Baumol 5 (b) To meet day-to-day financial obligations of the company 6 (b) Operating cycle 7 (b) 8 & 45 days 8 (b) Delinquency Cost 9 (b) 200 units 10 (d) i and ii are correct. 11 (b) Net working capital 12 (b) (B) Negative cash cycle 13 (b) An aggressive approach of financing 14 (b) (i)b (ii)c (iii)d (iv)a 15 (a) Rs.2 lakhs 16 (a) 7 months 17 (c) 160 18 (b) a(iii) b(ii) c(i) d(iv) 19 (b) 12 and 1 month 20 (All) 21 (c) a, b and d 22 (b) (i) b (ii) a (iii) d (iv) c 23 (b) Delinquency cost 24 (b) b, c and d 25 (c) Delinquency Cost

Chapter 7 : Dividend Decision : Theories and Policies

PGT Commerce

1 (a) Increase 2 (d) Bonus share 3 (c) Composite dividend

U.G.C. N.E.T Commerce

1 (c) r < k 2 (c) Both (i) and (ii) are correct 3 (c) Modigliani and Miller 4 (b) Irrelevant 5 (a) Retained earnings, the only source of financing 6 (a) Retained earnings is only source of financing 7 (a) (a)-(ii), (b)-(iii), (c)-(i), (d)-(iv) 8 (d) M. M. Model 9 (a) Both (A) and (R) is correct 10 (c) James E. Walter 11 (d) The key variables like EPS and DPS keep on changing 12 (b) Myron J. Gordon 13 (c) The firm has finite life 14 (c) Modigliani Miller 15 (d) Rs. 77 16 (c) Payout Ratio 17 (c) I II IV 18 (b) 19 (d) Arbitrage 20 (b) According to Walter, the optimal payout ratio for a growth firm is 100% 21 (b) (i), (ii), (iii) and (iv) 22 (b) (1) – (iii), (2) – (iv), (3) – (ii), (4) – (i) 23 (a) (1) and (2)

U.G.C. N.E.T Management

1 (d) None of the above 2 (b) Walter model 3 (c) Pay-out Ratio 4 (a) All financing is done through retained earnings; external sources of funds like debt or new equity capital are not used. 5 (c) iii ii iv i 6 (c) Price per share increases as the dividend pay-out ratio decreases. 7 (a) Partly on current earnings and partly on the previous year’s dividend. 8 (c) I, II, III and IV are correct. 9 (C) Rs. 400, Rs. 150 and Rs. 105.88, respectively 10 (b) Dividend yield 11 (b) Rs.20 12 (b) Rs.130 13 (c) Rs. 40 14 (d) Stability of the dividend considerations

Chapter 8 : Risk and Return Analysis

UGC NET Commerce

1 (c) Covariance 2 (b) Systematic risk is non-diversifiable but unsystematic risk is diversifiable 3 (b) Reverse variability of possible return to expected return 4 (c) 0.6 5 (c) (a) and (b) 6 (a) 7 (b) Combining two securities having perfect negative correlation in their expected returns 8 (d) (a)-(iii), (b)-(iv), (c)-(ii), (d)-(i) 9 (a) CAPM analysis 10 (b) 12%

UGC NET Management

1 (d) 16.75% 2 (c) Risk and the required rate of return 3 (b) Risk 4 (c) Systematic risk or non-diversifiable risk 5 (b) 0 6 () 7 (d) I, IV and V only 8 (b) 9 (c) 1.6 10 (d) Negative Alphas 11 (d) All of the above 12 (c) A stock’s relevant risk is greater than its stand-alone risk. 13 (c) Liability risks are associated with product, and not with service, or with employee actions. 14 (d) The slope of the security market line tells the degree to which investors are not risk averse. 15 (c) Sharpe, Lintner and Treynor 16 (a) Systematic Risk 17 (a) Systematic risk is unavoidable; this is the contribution of an individual asset to the risk of market portfolio 18 (c) (iv) (iii) (ii) (i)

MPhil PhD in Commerce

1

Chapter 9 : Asset Securitization

Chapter 10 : International Monetary System

Chapter 11 : Foreign Exchange Market

UGC NET Commerce

Old Book

1 (b) Spot Market 13 (b) In-the-Money 14 (b) Arbitrageurs 15 (c) Both (A) and (R) are correct 16 (a) (R) is correct explanation of (A) 25 (a) Stabilization function 33 (c) (iii) only 36 (c) (ii) only 37 (b) Bandwagon Effect 38 (a) Broken-date contract is a full – month forward contract 41 (a) Domestic Price level (P) divided by foreign price level (P*)

New Book

1 (b) Spot Market 2 (b) In-the-Money 3 (b) Arbitrageurs 4 (c) Both (A) and (R) are correct 5 (a) (R) is correct explanation of (A) 6 (a) Stabilization function 7 (c) (iii) only 8 (c) (ii) only 9 (b) Bandwagon Effect 10 (a) Broken-date contract is a full – month forward contract 11 (a) Domestic Price level (P) divided by foreign price level (P*)

UGC NET Management

1 (c) Bid rate 2 (d) (Forward rate – Spot rate)/(Spot rate) × 360/(Future Point in time) 3 (d)  iv ii i iii 4 (a) 40%

MPhil PhD in Commerce

1 (c) Standardized 2 (d) In the bearish market

Chapter 12 : Exchange Rate Risk and hedging technique

UGC NET Commerce

1 (a) Hedging against foreign exchange risk 2 (d) (i), (ii) and (iii) only

Chapter 13 : International Financial Markets and Instruments

Chapter 14 : International Arbitrage

Chapter 15 : Multinational Capital Budgeting

Income Tax Law

Chapter 1 : Basic Concepts

MCQ

1 (a) 15.10.2018 to 31.3.2019 2 (b) Rs. 2,50,000 3 (c) Rs. 3,00,000 4 (b) Rs. 2,50,000 5 (b) Rs. 3,83,490 6 (a) Rs. 4,83,500 7  (a) Gross total income 8 (c) (a) and (b) 9 (c) 7.5 10 (b) karta 11 (c) Artificial Judicial Person 12 (c) Artificial Judicial Person 13 (b) Individual 14 (d) Income Tax Authorities 15 (d) (a) or (b) 16 (d) Both (a) and (b) 17 (c) Every one 18 (c) Finance Act

PGT COMMERCE

1 (a) Tax on local fairs 2 (c) Direct tax 3 (b) Progressive tax system

M.Com Entrance

1 (d) 15% 2 (c) Rs. 5,00,000 3 (d) 40% 4 (c) 20% 5 (b) Import duty 6 (c) Property tax 7 (a) Progressive tax system 8 (c) Rs. 2,50,000  9 (d) 18.5% 10 (c) Above Rs. 10,00,000 11 (b) 15% 12 (a) Value added tax 13 (a) 15% and Nil respectively 14 (d) All of above 15 (b) Central Board of Direct Taxes 16 (c) Rs.3,00,000 17 (c) Progressive tax

U.G.C. N.E.T Commerce

1 (d) All type of companies 2 (b) Rs. 2,78,100 3 (d) A person leaving Indian permanently 4 (a) All companies 5 (d) Discontinued business 6 (b) Section 89 7 (d) I III IV 8 (a) 20% 9 (c) Rs. 50 lakh 10 (b) Income Tax Plus surcharge (if any) 11 (c) Rs. 2,600

Chapter 2 : Residential Status

MCQ

1 (a) Previous year 2 (d) All the Assessees 3 (d) All the Assessees 4 (a) Residential status in India 5 (c) A foreign national 6 (a) Resident 7 (a) Resident only. 8 (a) Both basic and additional condition 9 (a) Not fulfilling any one of the basic conditions. 10 (a) 182 days 11 (a) Resident and Ordinary Resident (ROR) 12 (b) Resident but not ordinary resident (RNOR)

PGT COMMERCE

1 (c) Different for previous years 2 (a) Resident and ordinarily resident

M.Com Entrance

1 (a) Resident and ordinarily resident 2 (a) Individual 3 (d) All of the above 4 (a) Resident in India 5 (b) An Indian company is resident in India if the control and management of its affairs is situated wholly or partly in India during the previous year 6 (c) Non-resident 7 (b) Resident 8 (a) True 9 (d) All of the above 10 (d) All of the above 11 (b) Resident but not ordinarily resident in India 12 (b) All foreign income is taxable in the hands of resident but not ordinarily resident of India

U.G.C. N.E.T Commerce

1 (b) Not ordinarily resident 2 (a) Ordinarily Resident 3 (c) Rs.6,000 4 (d) Ordinarily Resident (OR) Not Ordinarily Resident (NOR) and Non Resident (NR)  5 (d) Ordinary resident of India 6 (d) Surcharge is additional tax calculated on total income.

Chapter 3 : Income which do not form part of Total Income

MCQ

1 (b) Exempt income 2 (a) Casual income and fully taxable 3 (c) Fully taxable 4 (c) Rs. 1,500 per minor child or to extent of income of the minor child included in the total income of the assessee whichever is less 5 (a) Exempt under the head Other Source 6 (a) Exempt under the head Other Source 7 (b) Taxable 8 (a) Sum received by a member from HUF 9 (d) Income from house property, income from other sources, income from capital gains and income by way of voluntary contribution 10 (b) Not be allowed as deduction 11 (b) Fully exempt

M.Com Entrance

1 (b) Share of Income from the firm

U.G.C. N.E.T Commerce

1 (b) 10 (1) 2 (b) a-iii; b-iv; c-i; d-ii 3 (d) a-iii; b-iv; c-i; d-ii

Chapter 4 : Income under the Head Salary

MCQ

1 (b) Remuneration received by a partner 2 (c) Rs. 2,08,500 3 (c) Rs. 2,96,000 4 (b) Rs. 160 p.m. 5 (d) Nil 6 (b) 12 % p.a. 7 (b) Rs. 6,000 8 (c) To journeys in a block of 4 years 9 (c) Rs. 6,00,000 10 (b) 20 % 11 (c) Nil 12 (b) Rs.18,000 13 (b) Actual cost less depreciation @ 20% for every completed year under WDV method 14 (a) Travel concession to employee 15 (d) All employees irrespective of their amount of gross total income/the amount of income under the head “Salaries” 16 (b) Fully Exempt 17 (b) It is received 18 (b) 10 % 19 (b) Rs.7,200 20 (b) Nil

M.Com Entrance

1 (c) Chargeable to tax and relief can be taken under Section 89 2 (a) Salaries 3 (a) Pension 4 (d) Income from other sources 5 (d) Gratuity 6 (c) Rs. 10 lakh 7 (d) Capital Gains 8 (a) Salaries

U.G.C. N.E.T Commerce

1 (b) 15% of salary  2 (d) Nil 3 (b) Fully exempted 4 (c) Licence fee fixed by the government 5 (d) NIL 6 (c) Rs. 5,00,000 7 (d)  (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i) 8 (b) (a)-(ii), (b)-(iii), (c)-(i)

Chapter 5 : Income from other Sources

MCQ

1 (a) Fully exempt in the hands of shareholders except when it is chargeable to tax under the provision of section 115 BBDA 2 (a) Fully exempt in the hands of unit holders 3 (b) 1/3rd of such pension or Rs. 15,000 whichever is less 4 (c) In the hands of an individual or HUF 5 (b) Rs. 60,000 6 (d) Taxable as income from other sources, unless the assessee is in the business of subletting properties on a regular basis

M.Com Entrance

1 (b) Gain from transfer of capital asset 2 (a) Pension 3 (c) Income from other sources 4 Deleted Question

UGC NET Commerce

1 (a) Interest paid on amounts borrowed to meet tax liabilities  2 (c) Individuals and HUF  3 (a) Fully exempt in the hands of unit holders

Chapter 6 : Deduction from Gross Total Income

MCQ

1 (c) Individual or HUF 2 (b) Any university, college, school or other education institution situated within India 3 (b) Rs. 25,000 for individual himself or his family and Rs. 25,000 for parent or parents 4 (b) Rs.30,000 5 (c) For any course of study after passing the recognized senior secondary examination or its equivalent 6 (f) Literary, artistic or scientific nature 7 (b) Rs. 75,000 in case of individual who is resident in India and who is a person with disability and Rs. 1,25,000 in case such individual is a person with severe disability 8 (c) Section 80 C to 80 U 9 (a) 28 10 (c) Positive or Nil 11 (a) An individual or a HUF 12 (c) Rs. 1,50,000 13 (d) All of the above 14 (a) Only to individual, even to non-resident individual 15 (c) Rs. 1,50,000 16 (d) 10% 17 (a) Under Chapter VIA 18 (d) 20 % 19 (c) Rs.12,00,000 ; 3 years 20 (d) 80% 21 (a) 8  22 (a) A-3; B-1; C-2: D-4 23 (c) 1, 2, 3, 4 , 5 and 7 24 (d) 1, 3 and 5  25 (a) Chapter VI-A

M.Com Entrance

1 (d) All of the above 2 (c) An individual or Hindu Undivided Family 3 (d) All of the above 4 (b) Exemption may be more than the amount of income 5 (b) Deduction on account of interest on loan from house property is Rs. 2,00,000

UGC NET Commerce

1 (d) Without any limit 2 (c) Jawahar Lal Nehru Memorial Fund 3 (a) 100 per cent deduction without any qualifying limit. 4  5 (c) Deduction for interest on loan taken for the construction / purchase of house property 6 (b) a -4; b-1; c-2; d-3  7 (c) a-iii; b-iv; c-ii d-i 8 (d) Rs. 3,00,000 9 (d) Rs.5,000 10 (c) a-iii; b-i; c-iv; d-ii 11 (a) Rs.7,500 12 (a) (a) -(iii) ; (b) -(iv) ; (c) -(i) ; (d) -(ii)

MPhil PhD in Commerce

1 (a) Sec 80 TTA 2 (b) Provision for infrastructure facility 3 (d) Rs. 1,5000

Chapter 7 : Income Under the head House Property

MCQ

1 (c) R, as he will be deemed owner of such house property & liable to tax 2 (c) Mrs. R. 3 (c) Rs. 1,30,000 4 (b) One house shall be nil 5 (c) Be allowed as deduction if the tax is deducted at source

M.Com Entrance

1 (b) One house shall be nil 2 (a) Rental income received by a tenant from sub-letting

UGC NET Commerce

1 (b) Rs.72,000 2 (b) Rs. 65,000 3 (c) Rs.48,000 4 (c) Rs.1,70,000 5 (a) Rs.4,80,000

Chapter 8 : Income under the head Capital Gain

MCQ

1 (a) The date of holding of debentures 2 (a) Cost for which it was acquired by the assessee 3 (c) Short-term or long-term capital gain depending upon the original capital gain of compulsory acquisition 4 (c) A residential house property the income of which is taxable under the head income from house property 5 (d) In which period of 3 years has expired from the date of transfer 6 ( ) 7 (a) Any Assessee 8 (d) More than one residential house 9 (c) From the gross total income other than long-term capital gain from any asset and short-term capital gain on listed shares odd through recognized stock exchange 10 (a) The date of transfer

PGT Commerce

1 (a) Stock in Trade

M.Com Entrance

1 (b) Gold and silver coins used for Puja of deities as a matter of pride or ornamentation and normally not intended for personal or household use 2 (b) Jewellery 3 (b) Transfer under a gift 4 (b) Jewellery

UGC NET Commerce

1 (a) Stock in trade 2 (d) Exempted Income 3 old Question 4 (d) Jewellery 5 (c) Rs. 50 lakh 6 (b) Exempted 7 (d) More than one residential house 8 (b) Short-term capital gain 9 (c) 3 years have expired from the of transfer

Chapter 9 : Income from Business and Profession

MCQ

1 (c) 5 equal installments 2 (b) 5% of the cost of the project 3 (c) A company assessee 4 (b) Revenue nature 5 (c) Working partner only 6 (b) Rs. 50 lakh 7 (b) Nil 8 (b) Indefinitely 9 (c) Any assessee engaged in the business mention clause (b) 10 (d) 150 % of donation so made 11 (c) Both for payment made to specified institution and for direct expenditure incurred by itself 12 (c) The cost of project or the capital employed 13 (b) A company assessee 14 (b) Rs. 1 Crore 15 (b) 10 goods carriages 16 (b) Rs. 2 Crore 17 (c) Rs. 50 lakh 18

M.Com Entrance

1 (d) Loss from sale of securities held in the regular course of business 2 (d) All of the above 3 (a) 10 goods carriages 4 (a) Depreciation of funds kept in foreign currency for capital purposes.

UGC NET Commerce

1 (c) Income from the activity of owning or owning and maintaining race horses 2 (d) Nil 3 (a)  Both (A) and (R) are correct and (R) is the correct explanation of (A) 4 (c)  Value of all those assets to which one rate of depreciation is applicable 5 (a) Fees paid to the lawyer for drafting partnership deed 6 (c) (A) is incorrect but (R) is correct 7 (a) Revenue 8 (d) 150% of the donation

Chapter 10 : Clubbing of Income

MCQ

1 (c) The spouse of such individual 2 (c) The individual along with his relatives 3 (c) Any assets other than house property 4 (b) Taxable in the hands of the minor through his guardian/legal representative 5 (b) Relevant head to which it belongs

M.Com Entrance

1 (d) All of the above 2 (a) Mr. A  3 (b) Transfer of income without transfer of assets 4 (c) Both (a) and (b) 5 (c)  Income from assets transferred to spouse for adequate consideration

Chapter 11 : Set off or Carry Forward and Set off of Losses

MCQ

1 (b) Be carried forward 2 (b) Return of loss before the due date mentioned u/s 139(1) 3 (b) Is contained or not 4 (a) Can be carried forward for 8 years 5 (a) 51% of shares are beneficially held by the same persons

UGC NET

1 (d) For unspecified period 2 (d) Indefinite period 3 (b) Long term capital gain only 4 (d) Indefinite number of assessment years

MPhil Phd in Commerce

1 (b) Only against Long term capital gain

Chapter 12 : Agricultural Income & Its Tax Treatment

MCQ

1 (b) 60% of the income from such business 2 (b) Market value of such agricultural produce as on the date of use 3 (c) Nothing shall be treated as his agricultural income 4 (c) Individual HUF, AOP or BOI & Artificial judicial person

M.Com Entrance

1 (b) State government 2 (a) Income from breeding of livestock

UGC NET

1 (b) 60 % 2 (d) Interest on capital received by a partner from the firm engaged in agricultural operations 3 (b) Income from sale of replanted trees where denuded parts of the forest are replanted and subsequent operations in forestry are carried out

Chapter 13 : Assessment of Individual

UGC NET

1 (c) (I), (III), (IV), (V) 2 (d) (iv) (i) (ii) (iii)

MPhil Phd in Commerce

1 (a) Share of profit from a firm assessed as firm

Chapter 14 : Advance Tax and Provision for TDS

Chapter 16 : Assessment Procedure or Return of Income

Chapter 17 : Tax planning and Filing of Returns