Test Booklet Code & Serial No.

A
COMMERCE
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1. (Signature) .........................................
(In figures as in Admit Card)
(Name) ................................................
Seat No. ..............................................................
2. (Signature) ......................................... (In words)
(Name) ................................................ OMR Sheet No.
MAR - 50223 (To be filled by the Candidate)
Time Allowed : 2 Hours] [Maximum Marks : 200
Number of Pages in this Booklet : 40 Number of Questions in this Booklet : 100
Instructions for the Candidates
1. Write your Seat No. and OMR Sheet No. in the space provided 1.
on the top of this page.
2. This paper consists of 100 objective type questions. Each question
will carry two marks. All questions of Paper II will be compulsory. 2.
3. At the commencement of examination, the question booklet
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requested to open the booklet and compulsorily examine it as
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or questions repeated or not in serial order or any
other discrepancy should not be accepted and correct
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should be entered on this Test Booklet.
4. Each question has four alternative responses marked (A), (B),
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the correct response against each item.
Example : where (C) is the correct response.

A B D (C)
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end of the examination compulsorily and must not carry it with 9.
you outside the Examination Hall. You are, however, allowed
to carry the Test Booklet and duplicate copy of OMR Sheet on
conclusion of examination.
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12. There is no negative marking for incorrect answers. 12.
 MAR - 50223/II—A

2
 MAR - 50223/II—A
Commerce
Paper II

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

1. A producer when supplies particular 1.

goods and commodities to specified
distributors and guarantees not to
supply other distributors in a given
region is termed as ................. .

(A) Refusal to deal (A)

(B) Tied selling (B)
(C) Restraint of selling (C)

(D) Exclusive dealing (D)

2. Under the provisions of section 2.

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

(C) 47 (C) 47

(D) 48 (D) 48

3 [P.T.O.
 MAR - 50223/II—A
3. Which of the following is appliable 3.
for inter-state sale ?
(A) Central GST (A)
(B) State GST (B)
(C) Integrated GST (C)
(D) State Value Added Tax (D)
4. Under the constitution, Finance 4.
Commission :
(X) It is to be constituted every fifth
year.
(Y) It can be constituted when
(A)
President considers necessary.
(B)
(A) Only (X) is correct
(B) Only (Y) is correct (C)
(C) (X) and (Y) both are correct (D)
(D) (X) and (Y) both are incorrect 5.
5. Match the columns :
Group A (a)
(a) Mercantilism
(b)
(b) Theory of Absolute Cost
Advantage (c)
(c) Comparative Cost Advantage (d)
Theory
(d) Factor Endowments Theory (1)
Group B
(2)
(1) Heckscher-Ohlin
(2) David Ricardo (3)
(3) Adam Smith (4)
(4) Maintaining Favourable BOP
Codes : (a) (b) (c) (d)
(a) (b) (c) (d)
(A) (4) (1) (2) (3)
(A) (4) (1) (2) (3)
(B) (4) (2) (3) (1)
(B) (4) (2) (3) (1)
(C) (4) (3) (1) (2) (C) (4) (3) (1) (2)
(D) (4) (3) (2) (1) (D) (4) (3) (2) (1)

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 MAR - 50223/II—A

6. Which theory postulates that 6.

countries will export those goods
that make intensive use of factors
that are locally abundant, while
import goods that make use of
factors that are locally scarce ?

(A) The Product Life Cycle Theory

(B) Heckscher-Ohlin Theory (A)

(C) Theory of Comparative Cost (B)

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

7. Which of the following is not a type 7.

of BOP disequilibrium ?

(A) Cyclical disequilibrium (A)

(B) Secular disequilibrium (B)

(C) Structural disequilibrium (C)

(D) Demographic disequilibrium (D)

8. Which of the following countries was 8. 1985

not a member of SAARC when it was
established in 1985 ?

(A) Pakistan (A)

(B) Maldive (B)

(C) Afghanistan (C)

(D) Bangladesh (D)

5 [P.T.O.
 MAR - 50223/II—A

9. Which one of the following is not a 9.

function of International Monetary
Fund (IMF) ?

(A) IMF provides technical advice (A)

to its members regarding
monetary and fiscal policies

(B) IMF provides short-term

financial assistance to its (B)
members to solve the balance of
payments problems

(C) IMF functions as a reservoir of

currencies of member countries (C)
and enables the members to
borrow the other currencies

(D) To promote private foreign

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

10. Which one of the following is not a 10.

form of non-tariff barriers (NTBs) ?

(A) Quotas (A)

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

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 MAR - 50223/II—A

11. As per which accounting convention 11.

depreciation is provided for in the

annual financial statements ?

(A)
(A) Convention of conservatism
(B)
(B) Convention of going concern
(C)
(C) Convention of materiality

(D) Convention of consistency (D)

12. Management audit is an extension 12.

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

(A) Cost audit (A)

(B) Efficiency audit (B)

(C) Special audit (C)

(D) Internal audit (D)

13. The material price variance arises 13.

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

(A) Non-standard material mixture

(A)
(B) Pilferage of materials
(B)
(C) Loss of cash discount
(C)
(D) Carelessness in the use of

material (D)

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 MAR - 50223/II—A

14. In ................. system, costs are first 14.

traced not to activities but to an
organisational unit such as
department or plant and then to
product.
(A)
(A) Traditional Costing
(B)
(B) Activity Based Costing
(C)
(C) Target Costing

(D) Kaizen Costing (D)

15. MTC Ltd. sold 275,000 units of its 15. 275,000

product at Rs. 37.50 per unit.
37.50
Variable cost are Rs. 17.50 per unit.
17.50
(Manufacturing cost Rs. 14 and
selling cost Rs. 3.50 per unit). Fixed 14 3.50

costs are incurred uniformally

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

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

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 MAR - 50223/II—A

16. The price band in case of IPO 16.

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

(A) Price range of share (A)

(B) Band Box (B)

(C) Average price (C)

(D) Market value (D)

17. Margin of safety can be improved 17.

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

(A) Increase of variable cost per

unit (A)

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

(C) Decrease of variable cost per

(C)
unit
(D)
(D) Decrease of sales volume

18. Indian companies are generally 18.

following Human Resource
Accounting according to model as
suggested by :
(A)
(A) Morese
(B)
(B) David Watson

(C) Lev and Schwartz (C)

(D) Flamholtz (D)

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 MAR - 50223/II—A

19. Match the following pairs : 19.

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

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 MAR - 50223/II—A

21. Business economics is concerned 21.

with ................. economics.

(A) Normative (A)

(B) Positive (B)

(C) Alternative (C)

(D) Descriptive (D)

22. When the price of petrol decreases, 22.

the demand for automobile
increases. It implies that petrol and
automobiles are .................. .
(A)
(A) Substitute goods
(B)
(B) Complementary goods
(C)
(C) Inferior goods

(D) Normal goods (D)

23. Which of the following is not the 23.

property of indifference curve ?

(A) Indifference curve is downward

(A)
sloping

(B) Indifference curve is concave to (B)

origin

(C) Indifference curve never

(C)
intersect each other

(D) A higher indifference curve (D)

gives higher satisfaction

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 MAR - 50223/II—A

24. Which of the following activities 24.

related to production cannot take
place in the short-run ?
(A) Change in quantity of labour (A)
employed
(B)
(B) Decrease in output
(C) Increase in the capacity (C)

(D) Regular maintenance of the

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

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 MAR - 50223/II—A

27. When the total cost equals total 27.

revenue, it is known as ............... .
(A) Expansion point (A)

(B) Break-even point (B)

(C) Shut-down point (C)

(D) Focal point (D)

28. In which of the following market 28.

structure, advertising expenses are
least ?
(A)
(A) Monopoly
(B)
(B) Duopoly
(C) Monopolistic competition (C)

(D) Oligopoly (D)

29. With respect to the consumer 29.

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

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 MAR - 50223/II—A

30. Which of the following is not a

30.
requirement under price skimming ?

(A) A product must be new and

distinctive (A)

(B) A product must be imported

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

substitute (C)

(D) A product should have prestige

(D)
value

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

capital only consider incremental

change in the capital structure. It

helps to know the minimum rate of

return to be generated on the

financing of the new project.

(A) Overall cost of capital (A)

(B) Weighted average cost of capital

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

capital (D)

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 MAR - 50223/II—A

32. The risk that arises due to change 32.

in purchasing power is called

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

33. The selection of one proposal based 33.

on the choice of other proposals is

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

(A) Contingent investment proposal

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

proposal (C)

(D) Mutual exclusive proposal (D)

34. Which of the following is expression 34.

for operating leverage ?
(A)
Contribution
(A)
EBIT
(B)
(B) EBIT/Contribution

(C) Contribution/EAT (C)

(D) EAT/Contribution (D)

15 [P.T.O.
 MAR - 50223/II—A

35. A Company Ltd. issued Rs. 100 35. 100 14%

lakhs 14% Debentures of Rs. 100 100

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

of debt with 10% premium and 5% 10%

floatation cost.

(A) 8.03% (A) 8.03%

(B) 15.27% (B) 15.27%

(C) 7.76% (C) 7.76%

(D) 14.23% (D) 14.23%

36. Demand for foreign currency is 36.

influenced primarily by :

(A) Size of export (A)

(B) Size of import (B)

(C) Size of interport (C)

(D) All of the above (D)

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

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

(A) Investment decisions (A)

(B) Financing decisions (B)

(C) Working capital management (C)

(D) Risk return trade off (D)

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 MAR - 50223/II—A

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

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

(B) A type of broker (B)

(C) A form of margin money (C)

(D) A form of hedging (D)

39. Higher exchange rate risk/political 39.

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

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

(B) Lessens the cost of capital (B)

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

of capital

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

capital

40. Cocktail bonds are denominated 40.

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

(A) Egypt pound (A)

(B) US dollar (B)

(C) Japanese yen (C)

(D) Euro (D)

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 MAR - 50223/II—A

41. Arithmetic mean is the most popularly 41.

used average because ............. .
(i) It is based on all observations (i)

(ii) It is least affected by extreme (ii) (extreme)

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

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

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

(B) 7 (B) 7

(C) 0 (C) 0

(D) 49 (D) 49

43. If A and B are independent events 43. A B (independent)

with P(A) = 0.7 and P(B) = 0.8, then P(A) = 0.7
P(A B) = .................... . P(B) = 0.8 P(A B) = ........ .
(A) 0.94 (A) 0.94
(B) 0.56 (B) 0.56
(C) 0.75 (C) 0.75
(D) 0.80 (D) 0.80

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 MAR - 50223/II—A

44. Suppose the number of accidents per 44.

week on a certain highway follows

Poisson distribution with mean 2 2

then the percentage of weeks

having no accidents is ....................

e–2 = 0.1353
(Given e–2 = 0.1353)
(A) 27.06%
(A) 27.06%
(B) 6.77%
(B) 6.77%
(C) 13.53%
(C) 13.53%
(D) 7.39%
(D) 7.39%

45. The score in a certain examination 45.

follows normal distribution with

50
mean 50 and standard deviation 16
16 10%
then the marks of top 10%

candidates will have score more

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

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

(D) 95 (D) 95

19 [P.T.O.
 MAR - 50223/II—A

46. Level of significance in testing of 46.

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

normal distribution with mean 50 100

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

1 1
(A) (A)
2 2

1 1
(B) (B)
100 100

1 1
(C) (C)
20 20

1 1
(D) (D)
2 2

48. A research which involves surveys 48.

and fact finding enquiries is called
as ................... research.

(A) Analytical (A)

(B) Applied (B)

(C) Conceptual (C)

(D) Descriptive (D)

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 MAR - 50223/II—A

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

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

(A) 0.70 (A) 0.70

(B) 0.35 (B) 0.35

(C) 0.49 (C) 0.49

(D) –0.70
(D) –0.70

50. In writing technical report which of 50.

the following things are given main

emphasis ?
(i)

(i) the methods employed

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

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

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

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

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

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

21 [P.T.O.
 MAR - 50223/II—A

51. .................. is a technique for planning 51.

and controlling complex projects and
for scheduling the resources required
for such projects.
(A)
(A) Competition analysis
(B)
(B) Network analysis
(C)
(C) Financial analysis

(D) Internal analysis (D)

52. ....................... is based upon the 52.

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

(D) Vroom’s expectancy model (D)

53. Which one of the following is 53.

quantitative technique of man-
power planning ?
(A)
(A) Job analysis
(B)
(B) Job description

(C) Job rotation (C)

(D) Regression analysis (D)

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 MAR - 50223/II—A

54. Transactional analysis was devised 54.

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

(A) Herzberg (A)

(B) Maslow (B)

(C) Berne (C)

(D) McClealand (D)

55. Which of the following is not 55.

required for determining the

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

(D) Demand analysis (D)

56. Which one of the following is the 56.

qualitative technique of manpower

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

(D) Job analysis (D)

23 [P.T.O.
 MAR - 50223/II—A

57. ...................... tests are used for 57.

recruitment of individual for jobs
demanding experience, transfer and
promotion of existing employees and
training purposes.
(A)
(A) Achievement tests
(B)
(B) Aptitude tests
(C)
(C) Personality and interest tests
(D) Power and speed tests (D)

58. ....................... is not an example of 58.

non-financial incentive.
(A) Improved attitude (A)

(B) Supervisory relationship (B)

(C) Job satisfaction and enrichment (C)

(D) Team based pay (D)

59. ................... is undertaken to ensure 59.

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

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 MAR - 50223/II—A

60. Which of the following is not the 60.

concept of informal organisation ?

(a) Group norms (a)

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

(D) All of the above (D)

61. Under what circumstance penalty 61.

can be imposed on a banking
company ................... .
(A)
(A) For submitting false or
inaccurate returns (B)

(B) When it is unable to pay its

debts
(C)
(C) When the business is not
carried on for public interest
(D)
(D) When bank accepts deposits in
foreign currency

25 [P.T.O.
 MAR - 50223/II—A

62. In bank guarantee, the number of 62.

parties involved in the agreement

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

(D) Four (D)

63. The following one is absolutely 63.

essential for a special crossing :

(A) Two parallel transverse lines (A)

(B) Words ‘And Company’ (B)

(C) Words ‘Not Negotiable’ (C)

(D) Name of a banker (D)

64. Which of the following is the purpose 64.

of a ‘phishing e-mail’ ?
(A)
(A) Extracting personal financial

confidential data

(B) Misrepresentation of facts (B)

(C) Email to divert attention
(C)
(D) Email to promote marine

products (D)

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 MAR - 50223/II—A

65. .................... is an institution of credit 65.

where reciprocal liabilities of local
banks are counterbalanced against
one. (A)

(A) Clearing house (B)

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

66. A transaction where financial 66.

securities are issued against the cash

flow generated from a pool of assets
is termed as ................... .

(A) Securitisation (A)

(B) Credit swap (B)

(C) Credit linked notes (C)

(D) Total written swaps (D)

67. ...................... is a conversion of foreign 67.

currency bill into home currency
liability.
(A)
(A) Confirmation
(B)
(B) Securitisation
(C)
(C) Domestic Capitalisation

(D) Crystallization (D)

27 [P.T.O.
 MAR - 50223/II—A

68. This technique assumes the basic 68.

principle of “vital few trivial many”
while considering the inventory
structure of any organisation and is
popularly known as .................. . (A)

(A) ABC analysis (B)

(B) Bill of material (C)

(C) EOQ (D)

(D) Perpetual inventory system 69. I

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

(D) 1 (D) 1

70. ..................... is a market exchange 70.

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

(D) Spot rate (D)

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71. PQR company produces range of 71.

toothpaste, toothbrush, toothpowder,
mouthwash and shaving creams is
an example of .............. .

(A) Upselling (A)

(B) Direct selling (B)

(C) Mass selling (C)

(D) Online selling (D)

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

media.

(A) POPs (Point of Purchase) (A)

(B) Print media press
(B)
(C) Demonstrations, decorated
(C)
bullock carts with advertisement
pannels

(D) TV shows (D)

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

marketing.

(A) MOM–Mail Order Marketing (A)

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

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74. Marketing of services is characterised 74.

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

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76. The .................. concept believes that 76.

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

(C) Marketing concept (C)

(D) Customer concept (D)

77. Marketing companies use the 77.

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

(D) Physical factors (D)

78. Buying and assembling function is 78.

closely related with .................
element of marketing process.

(A) Concentration (A)

(B) Trading (B)

(C) Dispersion (C)

(D) Equalisation (D)

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79. Targeting affluent customers with 79.

luxurious goods is an example

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

(D) Behavioural segmentation (D)

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

to balance three considerations

company’s objectives, customer need

and long term public interest.

(A) Marketing (A)

(B) Societal marketing (B)

(C) Production (C)

(D) Product (D)

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

be no contract.

(A) Consensus ad idem (A)

(B) A common seal (B)

(C) Goodwill (C)

(D) A profit (D)

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82. The Maharashtra Goods and Service 82. 2017

Tax Act, 2017 is published in gazette

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

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

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

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

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

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

information under RTI Act, 2005 ?

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

(D) 30 days (D) 30

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

Act, 2002 deals with goods.

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

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

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

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

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85. Who can submit an application for 85. GST-REG-09

registration in form GST-REG-09 ?

(A) Non-Resident Taxable Person (A)

(B) Input Service Distributor (B)

(C) Person Deducting tax at source (C)

(D) Person Collecting tax at source (D)

86. Which one of the following is not an 86. 10

essential element of a valid contract

as per section 10 of Indian Contract

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

(D) Cross offer (D)

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

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

expenses.

(A) Care (A)

(B) Lien (B)

(C) Equality (C)

(D) Warn (D)

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88. Which of the following is not an 88.

example of implied consent for

discharge of contract ?

(A) Novation (A)

(B) Alteration (B)

(C) Merger (C)

(D) Change of law (D)

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

Competition Act, 2002.

(A) Price (A)

(B) Goods (B)

(C) Consumer (C)

(D) Competition (D)

90. The first state to introduce the law 90.

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

(A) Maharashtra (A)

(B) Punjab (B)

(C) Goa (C)

(D) Tamil Nadu (D)

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91. LPG subsidy received by an 91. LPG

individual on cylinder for household

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

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

from other sources’

(D)
(D) It’s not an income at all

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

not specified as arm’s length price

in relation to specified domestic

transaction as per section 92 C(1) of

Income Tax Act, 1961 ?

(A)
(A) Resale Price Method

(B)
(B) Cost Plus Method

(C) Transactional Net Margin

(C)
Method
(D)
(D) Wholesale Price Method

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93. As per section 206 AA of Income Tax 93. 1961 206 AA

Act, 1961, if PAN is not provided,
the rate of TDS shall be deducted
at : (A)

(A) Normal rate prescribed (B) 20%

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

(A) Exempt from tax (B)

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

(A) Minimise taxes (A)

(B) Minimise scrutiny by income (B)

tax department
(C)
(C) Optimise after tax wealth
(D)
(D) Maximise after tax wealth

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 MAR - 50223/II—A
96. Match the following : 96.
Group ‘A’
‘A’
(a) Compensation for loss of
(a)
employment
(b) Income by exploitation of forest (b)
under Government approved
scheme (c) 1,000
(c) Income of a minor Rs. 1,000 (d) 2,50,000
(d) Dividend on shares of TISCO
Rs. 2,50,000
‘B’
Group ‘B’
(1)
(1) Revenue receipt
(2)
(2) Capital receipt
(3)
(3) Income from other sources
(4)
(4) Exempt from income tax
Codes :
(a) (b) (c) (d)
(a) (b) (c) (d)
(A) (2) (1) (4) (3)
(A) (2) (1) (4) (3)
(B) (1) (2) (3) (4) (B) (1) (2) (3) (4)

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

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

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98. Income under the head ‘Salary’ is 98.

eligible for deduction under section 2019-20 16(i)
16(i) for AY 2019-20 is :

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

(A) 40,000
whichever is less

(B) Rs. 50,000 (B) 50,000

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

(D) Nil (D)

99. A house property with a fair rent 99. 1,20,000

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

(A) Sale of short term capital asset

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

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ROUGH WORK

40