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2011 Commerce UGC NTA NET JRF Solved Previous Year Paper JUNE 2011 PAPER–III

Commerce UGC NTA NET JRF Solved Previous Year Paper JUNE 2011 PAPER–II



1. Match the following components of Business Environment :
List-I List-II
(a) Eonomic Environment (i) Exim Policy
(b) Social Environment (ii) Customs
(c) Political Environment (iii) Social Values
(d) Legal Environment (iv) Business Law and Banking Act
Code :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (iii) (iv) (ii) (i)
C. (iii) (i) (iii) (ii)
D. (i) (iii) (iv) (iii)
Ans : A

2. Planning is a ….. process.
A. Goal oriented B. Flexible
C. Time bound D. All of the above
Ans : D

3. Which among the following have not been opened for private sector participation?
A. Power Sector
B. Telecommunication Sector
C. Education Sector
D. Railways
Ans : D

4. VAT is imposed
A. Directly on consumers
B. On final stage of production
C. On all stages from production to final sales
D. None of the above 236
Ans : C

5. In which of the following countries the Industrial Revolution took place first?
A. France B. Germany
C. England D. U.S.A.
Ans : C

6. Accounting Standards Board of India was established in the year :
A. 1970 B. 1972
C. 1973 D. 1977
Ans : D

7. Gopal was holding 100 shares of Rs. 10 each of a company on which he had paid Rs. 3 an application and Rs. 2 on allotment but could not pay Rs. 2 on first call. Directors forfeited the above share. Share capital will be debited by :
A. Rs. 1000 B. Rs. 700
C. Rs. 500 D. Rs. 800
Ans : B

8. If the purchase consideration is calculated by adding the various payments to be made, the method is called :
A. Lump-sum method
B. Net-worth method
C. Net-payments method
D. Value of shares method
Ans : C

9. The following relate to the shares of a company. What is the correct order?
A. Issue, Application, Call and Forfeiture
B. Application, Call, Forfeiture and Issue
C. Call, Issue, Application and Forfeiture
D. Forfeiture, Application, Issue and Call
Ans : A

10. The final accounts of a manufacturing company generally include the following statements :
(i) Balance Sheet
(ii) Manufacturing Account
(iii) Profit and Loss Account
(iv) Trading Account
(v) Profit and Loss Appropriation Account The correct sequence in which the statements are prepared is :
A. (i), (ii), (iii), (iv), (v)
B. (ii), (iv), (iii), (v), (i)
C. (v), (ii), (iv), (iii), (i)
D. (i), (iv), (iii), (ii), (v)
Ans : B

11. The theory of Revealed Preference was propounded by :
A. A. Marshall
B. P.F. Drucker
C. Paul Samuelson
D. J.R. Hicks
Ans : C

12. Which of the following concepts is considered as a myth?
A. Oligopoly
B. Perfect competition
C. Monopoly
D. Imperfect competition
Ans : B

13. A perfectly competitive market in the short run will be in equilibrium where :
A. MC = AC
B. MC = MR
C. MC = Zero
D. None of the above
Ans : B

14. Match the following :
List-I List-II
(a) Perfect competition (i) No control
(b) Monopolistic competition (ii) Some Control
(c) Oligopoly (iii) Practically Some Control
(d) Monopoly (iv) Usual control
Codes :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (ii) (iii) (iv) (i)
C. (iii) (ii) (iv) (i)
D. (iv) (iii) (ii) (i)
Ans : A

15. Statement (A) : The demand for the product of a firm under Oligopoly is at prices higher than the prevailing market prices.
Reason (R) : The Oligopolistic firm faces a kinked demand curve.
A. Both (A) and (R) are false.
B. Both (A) and (R) are true, but (R) is not the correct explanation of (A)
C. (A) is true, but (R) is false
D. (A) is false, but (R) is true
Ans : D

16. In a factory, there are 1000 workers consisting of 400 A-Grade workers and 600 B-Grade workers. In A-Grade, 300 are male workers; and in B-Grade, only 200 are male workers.
How many female workers are there in the factory?
A. 300 B. 400
C. 500 D. 600
Ans : C

17. When a population is heterogeneous, it is divided into groups, so that there is homogeneity within the group and heterogeneity between the groups, and some items are selected at random from each group.
It is a case of :
A. Cluster Random Sampling
B. Systematic Random Sampling
C. Quota Sampling
D. Stratified Random Sampling
Ans : D

18. Which one among the following is a small sample?
A. 5 B. 10
C. 29 D. All of the above
Ans : D

19. Which one of the following softwares is used for Research Analysis?
A. SAP B. ERP
C. SPSS D. TALLY
Ans : C

20. Which one of the following is a DataBase Management System?
A. MS Access B. MS Excel
C. MS Outlook D. None of the above
Ans : A

21. Match the following :
List-I List-II
(a) Maslow (i) Hygiene Theory
(b) Herzberg (ii) X and Y Theory
(c) Ouchi (iii) Need Hierarchy Theory
Codes :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (ii) (i) (iv) (iii)
C. (iv) (iii) (ii) (i)
D. (iii) (i) (iv) (ii)
Ans : D

22. Consider the following steps in the decisionmaking process; and select the correct sequence :
(i) Defining the problem
(ii) Considering alternatives
(iii) Considering limiting factors
(iv) Selection of the best alternative and implementation
A. (i), (ii), (iii), (iv)
B. (iii), (i), (iv), (ii)
C. (i), (iv), (iii), (ii)
D. (i), (iii), (iv), (ii)
Ans : A

23. “Unity of Objectives” principle states that there should be :
A. Only one objective
B. Pre-determined objectives
C. Coordination among objectives
D. None of the above
Ans : C

24. The concept of M.B.O. originally came from :
A. F.W. Taylor
B. A.H. Maslow
C. Henry Fayol
D. Peter F. Drucker
Ans : D

25. Which one is the most important principle of Business Ethics?
A. Principle of unity of direction.
B. Principle of proportional judgement.
C. Principle of scalar chain.
D. Principle of span of control.
Ans : B

26. Match the following statements with their authors :
(a) “Marketing is the delivery of standard of living.” (i) Peter F. Drucker
(b) “Marketing comprises both buying and selling activities.” (ii) Philip Kotler
(c) “Marketing is human activity directed at satisfying needs and wants through exchange process.” (iii) Paul Mazur
(d) “Marketing is a process which converts a resource, distinct knowledge into a contribution of economic value in the market place.” (iv) Pyle
Codes :
(a) (b) (c) (d)
A. (iv) (iii) (i) (ii)
B. (iv) (ii) (iii) (i)
C. (iii) (iv) (ii) (i)
D. (i) (ii) (iv) (iii)
Ans : C

27. Which one of the following is not the mode of Direct Distribution System?
A. Trading mediators
B. Vending machines
C. Own sales depot
D. Franchise shops
Ans : A

28. Which one of the following is matched correctly?
A. Consumer Promotion — Sales Meetings
B. Dealer Promotion — Display Allowance
C. Internal Sales — Fee Samples Promotion
D. None of the above
Ans : B

29. Statement (A) : “The Elecronic Media has a strong impact on consumers” behaviour in India.” Reason (R) : “Most of the Indian consumers take their decision with the help of Electronic Media.”
A. Statement (A) is correct, but Reason (R) is false.
B. Reason (R) is correct, but Statement (A) is false.
C. Both Statement (A) and Reason (R) are false.
D. Both Statement (A) and Reason (R) are correct.
Ans : D

30. Road blocking advertisement is :
A. Advertising a product by blocking a road.
B. Putting an advertisement on a blocked road.
C. A technique of gathering potential customers on the road.
D. Advertising a product on all similar TV/ Radio channels at the same time.
Ans : D

31. Read the following statements :
(i) “Working Capital is the amount of funds necessary to cover the cost of operating the enterprise.”
(ii) “Circulating capital means current assets of a company that are changed in the ordinary course of business from one form to another.”
A. (i) and (ii) both are correct.
B. (i) and (ii) both are false.
C. (i) is correct, but (ii) is false.
D. (i) is false, but (ii) is correct.
Ans : A

32. Examine the following statements :
(i) Pay Back Period method measures the true profitability of a project.
(ii) Capital Rationing and Capital Budgeting mean the same thing.
(iii) Internal Rate of Return and Time Adjusted Rate of Return are the same thing.
(iv) Rate of Return Method takes into account the time value of money.
A. (i), (ii) and (iii) are correct
B. (ii) and (iii) are correct
C. Only (iii) is correct
D. All (i), (ii), (iii) and (iv) are false.
Ans : C

33. Which one of the following is correct?
(i) A ratio is an arithmetical relationship of one number to another number.
(ii) Liquid ratio is also known as acid test ratio.
(iii) Rule of thumb for current ratio is 2 : 1.
(iv) Debt equity ratio is the relationship between outsiders’ fund and shareholders’ fund.
A. All (i), (ii), (iii) and (iv) are correct.
B. Only (i), (ii) and (iii) are correct.
C. Only (ii), (iii) and (iv) are correct.
D. Only (ii) and (iii) are correct.
Ans : A

34. The basic objective of Financial Management is :
A. Maximization of profits.
B. Profit Planning of the organization.
C. Maximization of shareholders’ wealth.
D. Ensuring financial discipline in the organization.
Ans : C

35. Which of the following term is used to represent the proportionate relationship between debt and equity?
A. Cost of Capital
B. Capital Budgeting
C. Assets Structure
D. Capital Structure
Ans : D

36. HRM is amalgam of :
A. Job analysis, recruitment and selection.
B. Social behaviour and business ethics.
C. Organizational behaviour, personnel management and industrial relation.
D. Employer and employees.
Ans : C

37. Recruitment is concerned with the process of :
A. Selection of right candidate.
B. Developing a pool of potential employees.
C. Inviting applications for jobs.
D. None of the above.
Ans : B

38. Z Ltd. Forfeited 600 shares of Rs. 10 each, on which first call of Rs. 3 per share was not received; the second and final call of Rs. 2 per share has not yet been called. Forfeited share A/c will be credited with
A. Rs. 3,000 B. Rs. 2,000
C. Rs. 1,500 D. Rs. 1,000
Ans : A

39. An interview conducted at the time of an employee leaving the organization is called :
A. Exit interview
B. Feedback interview
C. Convincing interview
D. Directed interview
Ans : A

40. Statement (A) : A Manager delegates authority.
Reason (R) : The Manager wants to shirk his responsibility.
A. Both Statement (A) and Reason (R) are correct.
B. Both Statement (A) and Reason (R) are false.
C. Statement (A) is correct, but Reason (R) is false.
D. Statement (A) is false, but Reason (R) is correct.
Ans : C

41. Match the following :
List-I List-II
(a) Unit Trust of India (i) 1921
(b) Banking Regulation Act (ii) 1949
(c) Imperial Bank of India (iii) 1964
(d) NABARD (iv) 1982
Codes :
(a) (b) (c) (d)
A. (i) (iii) (ii) (iv)
B. (iv) (i) (ii) (iii)
C. (ii) (iv) (iii) (i)
D. (iii) (ii) (i) (iv)
Ans : D

42. Capital Adequacy Norms declared in the year, 1996, is applicable to
A. Foreign Banks
B. Co-operative Banks
C. Private Sector Banks
D. Nationalized Bank
Ans : D

43. Which one of the following is used for International Money Transfer?
A. RTGS
B. NEFT
C. SWIFT
D. None of the above
Ans : C

44. In order to control credit and investment, the Central Bank of a country should
A. Sell securities in the open market and hike the Cash Reserve Ratio.
B. Buy securities from the open market and lower the Cash Reserve Ratio.
C. Buy securities from the open market and hike the Cash Reserve Ratio.
D. Sell securities in the open market and lower the Cash Reserve Ratio.
Ans : A

45. India has been witnessing high rate of inflation because :
A. Public expenditure and money supply both are continuously increasing.
B. The agricultural and industrial sectors have not performed adequately.
C. Both agricultural and administered prices have been hiked.
D. All of the above.
Ans : D

46. In India ….. has a predominant share in the debt market.
A. Government Securities
B. Corporate Deposits
C. Corporate Equities
D. Global Depository Receipts
Ans : A

47. Which type of elasticity plays a crucial role in determining international trade?
A. Elasticity of demand
B. Price elasticity of demand
C. Income elasticity of demand
D. Cross elasticity of demand
Ans : B

48. DFEC stands for :
A. Direct Foreign Exchange Control
B. Direct Finance Exchange Control
C. Duty Free Export Credit
D. Duty Free Exchange Credit
Ans : C

49. Suppose a Canadian firm imports bananas of Dollar1000 and sells them for Dollar2000. The effect on GDP would be
A. The GDP will decrease by Dollar3000
B. The GDP will increase by Dollar3000
C. The GDP will increase by Dollar2000
D. The GDP will increase by Dollar1000
Ans : D

50. In independent India, the first major foreign exchange crisis occurred in the year …..
A. 1955 B. 1956
C. 1969 D. 1991 Note : This paper contains fifty (50) objective-type questions, each question carrying two (2) marks. Attempt all of them.
Ans : B

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