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# Commerce UGC NTA NET JRF Solved Previous Year Paper December 2015 PAPER-III

1. The method being used for Transferring Complex Technology is known as :
A. Licensing Agreement
B. Transfer of Technology
C. Turnkey Contract
D. None of the above
Ans : C

2. Which of the following is not a ‘force’ in the “Porter Five Forces Model” ?
B. Suppliers
C. Complementary produce
D. Industry rivalry
Ans : C

3. LIBOR term is used for :
A. Deposit rate in European market
B. Interest rate in Euro currency market
C. Deposit rate applicable to interbank loans in London
D. Interest rate in Euro bond market
Ans : C

4. Which of the following characterises the early stage financial crises?
A. Falling the price of residential properties
B. Excessive euphoria about the future price of certain assets
C. Excessive pessimism about future assets price
D. Stragnating share price
Ans : B

5. Assertion (A) : In 1991 Government decided to allow all foreign investments to any industry without any restrictions.
Reason (R) : Government has enhanced the investment limit of small scale industrial units.
Codes :
A. Both (A) and (R) are true and (R) is the correct explanation of (A)
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

6. When a business is purchased, any amount paid in excess of the total of assets, minus the liabilities taken, is called :
A. Share Premium B. Goodwill
C. Capital Employed D. Working Capital
Ans : B

7. Indicate the correct code as regards the sources of funds for a Funds Flow Statement from the following :
(a) Increase in working capital
(b) Decrease in working capital
(c) Writing off the intangible/fictitious assets
(d) Issuing equity shares for acquisition of a building for office
(e) Charging depreciation on fixed assets
Codes :
A. (a), (c), (d) B. (b), (c), (e)
C. (a), (d), (e) D. (b), (c), (d)
Ans : B

8. Which of the following statements are correct?
(a) Analysis and interpretation of financial statements, is a function of accounting.
(b) Profit and Loss account is prepared for ascertaining financial position of a firm.
(c) Goodwill is a wasting asset.
(d) Balance Sheet is prepared for ascertaining financial position of a firm.
Select the correct answer using the codes given below :
Codes :
A. (a) and (b) B. (a) and (c)
C. (a) and (d) D. (b) and (c)
Ans : C

9. Match the items of List-I with those of the List-II and indicate the correct code for the following.
List-I List-II
(a) Debtors Turnover Ratio (i) Solvency Ratio
(b) Proprietary Ratio (ii) Liquidity Ratio
(c) Operating Ratio (iii) Activity Ratio
(d) Acid Test Ratio (iv) Profitability Ratio
Codes :
(a) (b) (c) (d)
A. (ii) (iv) (iii) (i)
B. (iii) (ii) (i) (iv)
C. (iii) (i) (iv) (ii)
D. (iv) (iii) (ii) (i)
Ans : C

10. For the following two statements of Assertion
(A)
and Reasoning (R), indicate the correct code.
Assertion (A) : Cash Flow Statement as per the financial statements as well is incapable in revealing the overall financial position of a firm.
Reasoning (R) : Cash is an important constituent of the working capital based on the recorded facts only.
Codes :
A. (A) and (R) both are correct and (R) is an explanation of (A)
B. (A) is correct but (R) is not correct
C. (A) is not correct but (R) is correct
D. (A) and (R) both are incorrect
Ans : A

11. For the following two statements of Assertion
(A)
and Reasoning (R), indicate the correct
code :
Assertion (A) : The quantity of a commodity demanded invariably changes inversely to changes in its price.
Reasoning (R) : The price effect is the net result of the positive substitution effect and negative income effect.
Codes :
A. (A) and (R) both are correct
B. (A) is correct but (R) is incorrect
C. (A) is incorrect but (R) is correct
D. (A) and (R) both are incorrect
Ans : C

12. Economic capacity of a plant represents its :
A. maximum physical output level
B. average output level over a period
C. break-even output and sales level
D. output level that equates the average and the marginal costs
Ans : D

13. Match the items of List-I with those of the List-II and indicate the correct code.
List-I List-II
(a) Excess capacity of the plant (i) Cost reduction with output expansion
(b) Resorting to New Technology (ii) Constant cost with output expansion
(c) Setting up of the Training Institutions(iii) Internal economies
(d) Reserve capacity of the plant (iv) External economies
Codes :
(a) (b) (c) (d)
A. (i) (iii) (iv) (ii)
B. (iii) (i) (iv) (ii)
C. (ii) (iii) (i) (iv)
D. (iv) (ii) (iii) (i)
Ans : A

14. In case the elasticity of demand on an average revenue curve is equal to unity, the marginal revenue will be :
A. more than unity
B. equal to unity
C. equal to a fraction of unity
D. equal to zero
Ans : D

15. Match the items of the List-I with those of the List-II and indicate the correct code.
List-I List-II
(a) Trade Channel Discount (i) Oligopoly Pricing
(b) Loss Leadership (ii) Locational Price Differentials
(c) Pricing being non – responsive to changes in the demand and the cost(iii) Differential Pricing
(d) Basing Point Pricing (iv) Product – Line Pricing
Codes :
(a) (b) (c) (d)
A. (iv) (iii) (ii) (i)
B. (iii) (iv) (i) (ii)
C. (ii) (iii) (iv) (i)
D. (i) (ii) (iii) (iv)
Ans : B

16. Statement-I : When a null hypothesis gets rejected in statistical hypothesis testing, it is known as II type – error in hypothesis testing.
Statement-II : When a sample is small sized and parametric value of the standard deviation is not known, z – test is the most appropriate test for hypothesis testing.
Codes :
A. Both statements are correct
B. Both statements are incorrect
C. Statement-I is correct while statement-II is incorrect
D. Statement-I is incorrect while statement-II is correct
Ans : B

17. The following are the estimated regression equations for x and y variables :
x = 0.85y y = 0.89x With this information, the value of the coefficient of correlation would be :
A. 0.87 B. 0.86
C. 0.89 D. 0.75
Ans : B

18. The power of the statistical hypothesis testing is denoted by :
A. α (alpha) B. β (beta)
C. 1 – α D. 1 – β
Ans : D

19. Match the items of List-I and List-II and indicate the code of correct matching of the items.
List-I List-II
(a) $$\frac{z^2.\sigma _p^2}{e^2}$$ (i) Measurement for Kurtosis
(b) $$\frac{\left|{\overline{X}}_1-{\overline{X}}_2\right|}{\sqrt {\sigma _p^2\left(\frac{1}{n_l}+\frac{1}{n_2}\right)}}$$ (ii) Calculated value of F ratio
(c) $$\frac{\mu_4}{\mu_2^2}$$ (iii) Statistical approach to find out the size of sample
(d) $$\frac{\sigma _{s_1}^2}{\sigma _{s_2}^2}$$ (iv) Calculated z value of mean differences
Codes :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (ii) (iv) (iii) (i)
C. (iii) (iv) (ii) (i)
D. (iii) (iv) (i) (ii)
Ans : D

20. Assertion (A) : A reasonably large sized sample drawn randomly from a given population contains almost all the characteristics of the population.
Reason (R) : As per the sampling theory, the assertion is based only on the ‘Law of Inertia of Large Numbers’.
Codes :
A. Assertion (A) is correct and Reason (R) as per the sampling theory is also fully correct
B. Assertion (A) is correct but the Reason (R) as per the sampling theory is not fully correct
C. Both Assertion (A) and Reason (R) are incorrect
D. Assertion (A) is incorrect but the Reason
(R) is sufficient as per the sampling theory
Ans : B

21. Which of the following approaches of team building is based on the belief that each person possesses positive and negative characteristics that must be owned up to a permitted expression?
A. Process approach
B. Gestalt approach
C. Role analysis approach
D. Parallel learning structure approach
Ans : B

22. Which of the following factors lead to group cohesiveness?
(a) Agreement on group goals
(b) High intra-group competition
(c) Frequent interaction of members
(d) Personal attractiveness
Codes :
A. (a) and (b) B. (a), (b) and (c)
C. (a), (c) and (d) D. (a), (b) and (d)
Ans : C

23. Assertion (A) : ‘Uncertainty Avoidance’ is one of the dimensions of cultural differences, as identified by Geert Hofstede.
Reasoning (R) : ‘Uncertainty Avoidance’ is the extent to which people feel threatened by ambiguous situations. To avoid such situations, organisations provide greater career stability, make more formal rules and reject deviant behaviours.
Codes :
A. (A) is wrong (R) is right
B. Both (A) and (R) are wrong
C. Both (A) and (R) are right and (R) is the correct explanation of (A)
D. Both (A) and (R) are right but (R) is not the correct explanation of (A)
Ans : C

24. Which of the following is the internal conflict or anxiety that occurs when people receive information incompatible with their value systems, prior decisions and knowledge?
(a) Polarisation
(b) Cognitive dissonance
(c) Premature evaluation
(d) Projection
Codes :
A. (a) and (b) B. Only (b)
C. Only (d) D. (a), (b), (c) and (d)
Ans : B

25. Matrix organisation structure is essentially a violation of the principle of :
A. Unity of Command
B. Scalar Chain
C. Unity of Direction
D. Division of Labour
Ans : A

26. Which of the following statements is not true?
A. One sided messages work best with audiences those are initially predisposed to communicator’s position.
B. Two sided arguments work best with audiences who are similar and not opposed.
C. Two sided messages tend to be more effective with better educated audiences.
D. Two sided messages tend to be more effective with audiences those are likely to be exposed to counter propaganda.
Ans : B

27. In the course of converting to a marketingoriented company, a company may face which of the following hurdles?
A. Organised resistance
B. Slow learning
C. Fast forgetting
D. All of the above
Ans : D

28. A person’s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to his or her environment is called :
A. Life style B. Self-concept
C. Personality D. Attitude
Ans : C

29. When electronic markets permit prices to change faster even daily as a function of demand and supply then this practice is called :
A. competitive pricing
B. e-marketing pricing
C. yield management pricing
D. none of the above
Ans : C

30. Match the strategies given in List-I with the examples given in List-II.
List-I List-II
(Strategies) (Examples)
(a) Differential Pricing (i) Customer lounges to sit in while waiting for a table at service centres, etc.
(b) Complimentary Service (ii) Breakfast service by McDonald’s and mini vacation and weekends by hotels
(c) Reservation System (iii) Low prices for early and evening movies, weekend discounts for car parking rentals
(d) Non-peak Demand Cultivation (iv) Airlines, Hotels and Physicians employ extensively
Codes :
(a) (b) (c) (d)
A. (i) (iii) (ii) (iv)
B. (iv) (ii) (i) (iii)
C. (ii) (i) (iv) (iii)
D. (iii) (i) (iv) (ii)
Ans : D

31. From investor’s point of view, the cost of capital is :
A. Interest Rate
B. Market Value
C. Yield of Capital Sacrifice
D. Stock Exchange Value
Ans : C

32. Formula for net cash inflow of a project is :
A. Sales – Operating Expenses – Interest – Tax
B. Sales – Operating Expenses
C. Net Profit after tax + Depreciation
D. Gross Profit + Depreciation
Ans : C

33. Concentration Banking is a method of :
A. Decentralised collection
B. Centralised collection
C. Direct collection
D. Payment only through cheques
Ans : A

34. In case, cost of capital is 10%, EPS Rs. 10, IRR 8% and Retention Ratio is 60%, then the value of equity share as per Gordon’s Model will be :
A. Rs. 100 B. Rs. 87
C. Rs. 90 D. Rs. 77
Ans : D

35. A firm with high operating leverage has :
A. Low fixed cost in its production process
B. High variable cost in its production process
C. High fixed cost in its production process
D. Low variable cost in its production process
Ans : C

36. Match the items of List-I with List-II according to ‘The Harvard Framework’ developed for HRM.
List-I List-II
(a) Stakeholder’s interest (i) Work systems
(b) Situational factor (ii) Cost-effectiveness
(c) HRM policy choice (iii) Individual well being
(d) HR outcome (iv) Government
(e) Long-term consequence (v) Business strategy
Codes :
(a) (b) (c) (d) (e)
A. (iv) (i) (ii) (iii) (v)
B. (v) (iv) (ii) (i) (iii)
C. (iv) (v) (i) (ii) (iii)
D. (i) (v) (ii) (iii) (iv)
Ans : C

37. The committees which promote worker’s participation in management are usually established only at the :
A. Corporate level B. Plant level
C. Shop-floor level D. All of the above
Ans : D

38. Choose the correct code for the statements given below.
Statement (I) : T-group and sensitivity training are not the same.
Statement (II) : T-group participants belong to a diverse groups and may not be familiar with each other.
Statement (III) : T-group training sessions are well structured.
Codes :
A. Statements (I) and (II) are correct
B. Only (II) and (III) statements are correct
C. All the three statements are correct
D. Only statement (II) is correct
Ans : A

39. A review is heavily influenced only by any one characteristic of the employee whose performance is being reviewed is known as :
A. Recency of Events Error
B. Central Tendency
C. Logical Error
D. Halo Effect
Ans : D

40. Which one of the following tests is not recommended for the top level positions?
A. Presentations
B. Role plays
C. Interviews
D. Leaderless group discussions
Ans : B

41. Select the major principles which banks strive to incorporate in their working from the following :
(a) Profitability (b) Labour welfare
(c) Social welfare (d) Safety
(e) HRD (f) Liquidity
Codes :
A. (a), (b), (d), (e) B. (a), (c), (d), (f)
C. (c), (d), (e), (f) D. (a), (b), (c), (d)
Ans : B

42. Identify the years in which different phases of Bank Nationalisation took place in India :
(a) 1950 (b) 1955
(c) 1969 (d) 1949
(e) 1980
Codes :
A. (a), (b), (c), (d) B. (b), (c), (e)
C. (b), (d), (e) D. (c), (d), (e)
Ans : B

43. ‘SWIFT’ stands for :
A. Society for Worldwide Inter-bank Fund Transfer
B. Society for Worldwide Inter-bank Fast Transmission
C. Society for Worldwide Inter-bank Financial Telecommunications
D. None of the above
Ans : C

44. Select the techniques of monetary control adopted by RBI from the following :
(a) Cash Reserve Ratio
(b) Statutory Liquidity Ratio
(c) Bank Rate
(d) Currency Rate
Codes :
A. (a), (b), (c), (d) B. (b), (c), (d)
C. (a), (c), (d) D. (a), (b), (c)
Ans : D

45. Which of the following is not a development banking institution?
A. IDBI B. IFCI
C. EXIM Bank D. ICICI
Ans : C

46. Which of the following is not a characteristic of bartering internationally?
A. Bartering can be time – consuming
B. Bartering can be expensive
C. Bartering is a type of service export and import
D. Bartering can be risky
Ans : C

47. Assertion (A) : International business has grown in more recent years at a faster pace than global production.
Reason (R) : Growth through trade has increased, but growth through foreign direct investment has not.
Codes :
A. Both (A) and (R) are correct
B. (A) is correct but (R) is incorrect
C. (A) is incorrect but (R) is correct
D. Both (A) and (R) are incorrect
Ans : B

48. Identify the multinational corporations (MNCs) from the following :
(a) IOCL (b) GAIL
(c) SBI (d) SAIL
(e) Tata Steel (f) Bharat Petroleum
Codes :
A. (a), (b), (c), (d) B. (b), (c), (d), (e)
C. (c), (d), (e), (f) D. (a), (c), (e), (f)
Ans : D

49. Statement-I : Legal agreements between two countries govern how both the countries tax earnings.
Statement-II : International Law may determine how and whether companies can operate in a certain locale.
Codes :
A. Both the statements are true
B. Both the statements are false
C. Statement-I is true but Statement-II is false
D. Statement-I is false but Statement-II is true
Ans : A

50. Which of the following is an example of an issue for which an agreement has not been made between two or more countries?
A. Restricting harmful emissions
B. Deep-sea mining in non-coastal areas of the oceans
C. Preserving endangered species
D. Banning the use of certain pesticides
Ans : B

51. Match the items of List-I with List-II.
List-I List-II
(a) Intangible Assets (i) Ind AS 31
(b) Impairment of Assets (ii) Ind AS 34
(c) Interim Financial Reporting (iii) Ind AS 36
(d) Interests in Joint Ventures (iv) Ind AS 38
Codes :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (iv) (iii) (ii) (i)
C. (iv) (i) (ii) (iii)
D. (iv) (ii) (i) (iii)
Ans : B

52. Assertion (A) : Human Resource Accounting is the measurement of the cost and value of people to the organization.
Reasoning (R) : Human Resource Accounting involves measuring costs incurred by the organizations to recruit, select, hire, train and develop employees and judge their economic value to the organization.
Codes :
A. Assertion (A) and Reasoning (R) are correct and (R) is the right explanation of (A)
B. Assertion (A) and Reasoning (R) are correct and (R) is not the right explanation of (A)
C. Assertion (A) is correct but Reasoning (R) is incorrect
D. Both Assertion (A) and Reasoning (R) are incorrect
Ans : A

53. For the discharge of its functions efficiently, SEBI has been vested with the following powers :
(a) to approve by-laws of stock exchanges
(b) to direct the stock exchanges to amend their by-laws
(c) inspect the books of accounts and call for periodical returns from recognized stock exchanges
(d) inspect the books of accounts of financial intermediaries
(e) compel certain companies to list their shares in one or more stock exchanges
(f) registration of brokers
Codes :
A. (a), (b), (c) and (f)
B. (a), (c), (d) and (f)
C. (b), (c), (d), (e) and (f)
D. (a), (b), (c), (d), (e) and (f)
Ans : D

54. Consider the following characteristics :
(a) High risk high return opportunity
(b) Small and medium size enterprise
(c) Private equity stakes in start-ups
(d) Investment fund The above attributes are found in :
A. Mutual Funds
B. Venture Capital Funds
C. Qualified Institutional Buyers
D. Domestic Institutional Investors
Ans : B

55. Identify the incorrect statement(s), regarding money market, among the following :
(a) The call money market deals in short-term finance repayable on demand, with a maturity period varying from one day to 14 days.
(b) Treasury bills are instruments of short-term borrowing by the Government of India, issued as promissory notes under discount.
(c) A reduction in the repo rate helps banks to get money at a cheaper rate.
(d) Money market mutual funds invest money in specifically, high-quality and very short maturity-based money market instruments.
Codes :
A. (a) and (c) B. (b)
C. (d) D. None of the above
Ans : D

56. “Buyers are less price sensitive when they cannot easily compare the quality substitutes”.
Which of the following factors of price sensitivity is reflected from this statement?
A. Substitute – awareness effect
B. Unique value effect
C. Price quality effect
D. None of the above
Ans : D

57. The model of decision support where there is recommendation of the type of advertisement with humourous and ‘slice of life’ kinds of appeals to use for given marketing goals and characteristics of products, target markets and competitive situations is known as :
A. MEDIAC B. PROMOTOR
Ans : C

58. Which of the following statements is not true?
A. Marketing profitability analysis measures the profitability of different marketing activities.
B. Marketing efficiency studies try to determine how various marketing activities could be carried out more efficiently.
C. Each company needs to reassess periodically its marketing effectiveness through a control instrument called marketing audit.
D. All the above are true
Ans : D

59. Industry boundaries are blurring at an incredible rate as companies are recognizing that the new opportunities lie at the intersection of two or more industries, it is called :
A. Globalization
B. Customization
C. Industry convergence
D. Acquisition
Ans : C

60. A picture of two characters is presented, with one making a statement. Respondents are asked to identify with the other and fill in the empty balloon.
This description belongs to which one of the following projective techniques?
A. Thematic Apperception Test
B. Picture Completion Test
C. Sentence Completion Test
D. Story Completion Test
Ans : B

61. Match the items of List-I with the items of List-II.
List-I List-II
(Job Analysis) (Examples)
(a) Task (i) Payroll processing
(b) Element (ii) Compensation policy administrator
(c) Duty (iii) Compensation design manager
(d) Position (iv) Compensation specialist
(e) Job (v) Preparing forms
(f) Occupation (vi) Signing pay-cheques
Codes :
(a) (b) (c) (d) (e) (f)
A. (i) (ii) (iii) (iv) (v) (vi)
B. (v) (vi) (i) (ii) (iii) (iv)
C. (vi) (v) (iv) (ii) (iii) (i)
D. (vi) (i) (ii) (iii) (iv) (v)
Ans : B

62. In which of the following types of collective bargaining, one party gains at the expense of the other?
A. Distributive bargaining
B. Integrative bargaining
C. Centralized bargaining
D. None of the above
Ans : A

63. Which one of the following dispute settlers cannot make a binding decision?
A. Arbitrator
C. Conciliator
D. Industrial tribunal member
Ans : C

64. Ensuring the safety, health and welfare of the employee is the primary purpose of which one of the following Acts?
A. The Factories Act, 1948
B. The Payment of Wages Act, 1936
C. The Equal Remuneration Act, 1976
D. The Industrial Disputes Act, 1947
Ans : A

65. Match the items of List-I with the items of List-II and select the correct code :
List-I List-II
(a) Pension scheme (i) Health Care for family
(b) Personal security (ii) Severance Pay
(c) Financial assistance (iii) Provident Fund
(d) Allowance (iv) Transport Allowance
Codes :
(a) (b) (c) (d)
A. (i) (ii) (iii) (iv)
B. (iii) (i) (ii) (iv)
C. (iii) (ii) (i) (iv)
D. (i) (iv) (ii) (iii)
Ans : B

66. Examine the following statements and choose the correct answer.
Statement-I : FIIs do not invest in unlisted securities. They participate only through Stock Exchanges.
Statement – II : FIIs cannot invest at the time of initial allotment.
Codes :
A. Both the statements are wrong
B. Both the statements are correct
C. Statement-I is correct but the statement-II is wrong
D. Statement-I is wrong but the statement-II is correct
Ans : A

67. Which one of the following is not a member country in the Association of South-East Asian Nations (ASEAN)?
A. Singapore
B. Malaysia
C. Thailand
D. Vietnam
Ans : *

68. Match the items of List-I with the items of List-II and select the correct answer with the codes given below.
List-I List-II
(a) SAARC (i) Philippines
(b) ASEAN (ii) Canada
(c) EU (iii) Afghanistan
(d) NAFTA (iv) Hungary
Codes :
(a) (b) (c) (d)
A. (ii) (iv) (i) (iii)
B. (iv) (ii) (i) (iii)
C. (iii) (i) (iv) (ii)
D. (iii) (iv) (ii) (i)
Ans : C

69. Which among the following are criticisms given against World Trade Organization (WTO)?
(a) It is not a democratic and transparent institution.
(b) It has domination of international trade by rich countries for the benefit of their individual interests.
(c) It encourages a ‘race to the bottom’ in wages by pitting workers against each other rather than promoting internationally recognized labour standards.
(d) It is seeking to privatize essential public services.
Codes :
A. (b), (c) and (d)
B. (a), (b) and (c)
C. (a), (b) and (d)
D. (a), (b), (c) and (d)
Ans : D

70. Domestic Currency tends to depreciate owing to :
A. Constant inflation rate
B. Lowering of inflation rate
C. High inflation rate
D. All of the above
Ans : C

71. Consider the following conditions :
(a) An individual is in India for a period of 182 days in the financial year in which he is getting his salary income.
(b) An individual is in India for a period of 60 days or more during financial year in which he gets his salary and 365 days or more during 4 years immediately preceding to that financial year.
If one of the above conditions is satisfied, as per the provisions of Income Tax Act, 1961, he is :
A. Resident but not ordinarily resident of India
B. Non-resident citizen of India
C. Resident and categorised citizen of India U/S 29
D. Ordinary resident of India
Ans : D

72. Agriculture income is exempted from income tax under the following section of Income Tax Act, 1961 :
A. 2 (1A) B. 10 (1)
C. 10 (2) D. 10 (4)
Ans : B

73. Match the items of List-I with List-II.
List-I List-II
(a) When the assessee is in default or is deemed to be in default in making payment of tax, including the tax deducted at source (i) Section 271 (1) (c)
(b) Failure to pay the advance tax as directed by the Assessing Officer (ii) Section 273 (1)
(c) Concealment of particulars of income or furnishing of inaccurate particulars of income(iii) Section 201 (1)
Codes :
(a) (b) (c)
A. (i) (ii) (iii)
B. (iii) (ii) (i)
C. (iii) (i) (ii)
D. (ii) (i) (iii)
Ans : B

74. Assertion (A) : Tax evasion is undertaken by employing unfair means.
Reasoning (R) : Payment of tax is avoided through illegal means or fraud for tax evasion.
Codes :
A. Assertion (A) is correct and Reasoning (R) is the right explanation of (A)
B. Assertion (A) is correct but Reasoning (R) is not the right explanation of (A)
C. Both Assertion (A) and Reasoning (R) are correct independently and (R) may be considered as an explanation of (A)
D. Both Assertion (A) and Reasoning (R) are incorrect
Ans : A

75. Which among the following are necessary documents to file Income Tax Return for an employed person in India?