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UGC NET JUN 2008 :COMMERCE PAPER II

24 pages, 100 questions, 40 questions with responses, 41 total responses,

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Signature and Name of Invigilator OMR Sheet No. : ...................................................... (To be filled by the Candidate) 1. (Signature) Roll No. (Name) (In figures as per admission card) Roll No. 2. (Signature) (In words) (Name) Test Booklet No. J 0 8 0 8 PAPER II COMMERCE Time : 1 hours] Number of Pages in this Booklet : 24 [Maximum Marks : 100 Number of Questions in this Booklet : 50 U Instructions for the Candidates 1. 2. 3. 4. 1. U DU U S U U U U Write your roll number in the space provided on the top of this page. This paper consists of fifty multiple-choice type of questions. At the commencement of examination, the question booklet will be given to you. In the first 5 minutes, you are requested to open the booklet and compulsorily examine it as below : (i) To have access to the Question Booklet, tear off the paper seal on the edge of this cover page. Do not accept a booklet without sticker-seal and do not accept an open booklet. (ii) Tally the number of pages and number of questions in the booklet with the information printed on the cover page. Faulty booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct booklet from the invigilator within the period of 5 minutes. Afterwards, neither the question booklet will be replaced nor any extra time will be given. (iii) After this verification is over, the Test Booklet Number should be entered in the OMR Sheet and the OMR Sheet Number should be entered on this Test Booklet. Each item has four alternative responses marked (A), (B), (C) and (D). You have to darken the oval as indicated below on the correct response against each item. Example : A B C 2. - 3. U U U, - S U U U - S U (i) (ii) U DU U U U - S DU U U U U U U S DU / U U U U U S S U U U U U S U U - S U U - S U UQ (iii) - S R OMR U U U U OMR R - S U U 4. U U (A), (B), (C) (D) U U U U U D A B C D (C) U 5. U U I U U- U where (C) is the correct response. 5. Your responses to the items are to be indicated in the Answer Sheet given inside the Paper I booklet only . If you mark at any place other than in the ovals in the Answer Sheet, it will not be evaluated. 6. Read instructions given inside carefully. 7. Rough Work is to be done in the end of this booklet. 8. If you write your name or put any mark on any part of the test booklet, except for the space allotted for the relevant entries, which may disclose your identity, you will render yourself liable to disqualification. 9. You have to return the test question booklet to the invigilators at the end of the examination compulsorily and must not carry it with you outside the Examination Hall. 10. Use only Blue/Black Ball point pen. 11. Use of any calculator or log table etc., is prohibited. 12. There is NO negative marking. J 0808 - S U U U U S U U- U S S U U U U U S U U U , U 6. U U 7. (Rough Work) S DU U U 8. U- S U , U U U U 9. U # U U- S U U U U U # U U U / U Z U S U 11. U ( U U) U U 12. U U 10. 1 P.T.O. COMMERCE PAPER II Note : 1. This paper contains fifty (50) objective-type questions, each question carrying two (2) marks. Attempt all of them. The choice of distribution channel is affected by : (A) (B) Product consideration (C) 2. Market consideration Middle man consideration (D) All of the above Who is the custodian of monetary reserves in India ? (A) 3. (B) SIDBI (C) NABARD (D) SBI (B) IDBI (C) ICICI (D) RBI During the depression, it is advisable to : (A) Lower Bank Rate and purchase securities in the market (B) Increase Bank Rate and purchase securities in the open market (C) Decrease Bank Rate and sell securities in the open market (D) 5. RBI Who is the fiscal agent and advisor to government in monetary and financial matters in India ? (A) 4. SBI Increase Bank Rate and sell securities in the open market Nationalization of banks aimed at all of the following except : (A) (B) Provision of control by a few (C) Provision of adequate credit for agriculture, small industry and export units (D) 6. Removal of control by a few Encouragement of a new class of entrepreneur The portion of total deposits of a commercial bank which it has to keep with RBI in the form of cash reserves is termed as : (A) CRR (B) SLR (C) Bank Rate (D) Repo Rate J 0808 2 II U (50) S D (2) U 1. U U ? (A) (B) (C) 2. U S (D) U U U U ? (A) (B) . . U . . (C) 3. . . U ( . . . . U. U ) (D) U. . . U U U U U U ? (A) (B) . U . . (C) 4. . . . . . . (D) U. . . U U U (A) (B) - U U U U (C) - U U U U (D) 5. - U U U U U U - U U U U c U U U g g ? (A) (B) U U U U S U (C) , l U S U (D) 6. U U U U U l U U M U. . U , (A) . U. U (B) . . U (C) U (D) U U U J 0808 3 P.T.O. 7. The emphasis of Human Resource Management is : (A) (B) Punishment (C) 8. Development Promotion (D) Demotion The purpose of Job evaluation is : (A) (B) Promotion (C) 9. Training Wage fixation (D) Transfer Induction means : (A) (B) Orientation (C) 10. Training Introducing the employee (D) Certification Labour productivity means : (A) (B) output is less than input (C) output is equal to input (D) 11. output is greater than input output is negative Which of the following relates to performance appraisal ? (A) (B) Price method (C) 12. Task method M.B.O. (D) Link method Capital structure represents : (A) (B) All liabilities (C) All assets (D) 13. Ratio between different forms of capital Assets and liabilities The item, closing inventory, is shown in the balance-sheet under : (A) Fixed Assets (B) Current Assets (C) Current Liabilities (D) Miscellaneous Expenditure J 0808 4 7. U (A) (B) U (C) 8. (D) U (A) (B) (C) 9. U (D) (A) (B) S (C) 10. U U U (D) U (A) (B) c U U (C) c U U U (D) 11. c U U U c ? (A) (B) (C) 12. U S . . . (D) U (A) (B) (C) (D) 13. S M U S U (A) S U (B) (C) (D) U U J 0808 5 P.T.O. 14. Trading on Equity means : (A) (B) Trading on borrowed funds (C) 15. Trading on arrears funds Trading on family funds (D) Trading on friends funds Marketing process involves : (A) (B) Place utility (C) 16. Time utility Right utility (D) All of the above Which of the following activities are covered under physical distribution ? (A) (B) Packaging (C) 17. Inventory Transportation (D) All of the above Which of the following step comes first in the selection process ? (A) (B) Application blank (C) 18. Test Screening (D) Medical examination M - M Theory in perfect market suggests that dividend payment : (A) (B) has no impact on the value of a firm (C) has a negative impact on the value of a firm (D) 19. has a positive impact on the value of a firm has negligible impact on the firm To manage is the forecast and plan, to organise, to command, to co-ordinate and to control . These are the words of : (A) (B) Henry Fayol (C) 20. Koontz and O Donnel F.W. Taylor (D) Peter F. Drucker Chunk sampling is known as : (A) Quota sampling (B) Convenience sampling (C) Judgement sampling (D) Cluster sampling J 0808 6 14. U U ? (A) (B) U U U U (C) 15. U U U U U U U U (D) U U U (A) (B) S (C) 16. U (D) U U ? (A) (B) (C) 17. S U (D) U ? (A) (B) (C) 18. U S (D) U U U U . . h (A) (B) U (C) U U (D) 19. U U U c U , U U , , U U U ? (A) (B) U (C) 20. U U U . U . U U (D) U U . U U U ( ) (A) U (B) (C) U ( - ) (D) J 0808 7 P.T.O. 21. The first electronic computer system was developed in : (A) 22. 1920 (B) 1930 (C) 1935 (D) When management pays attention to more important areas looked after by lower level of management, this is known as : (A) MBO (B) Management by exception (C) 23. Unity of command (D) Critical path method Policy making is an important part of the process of : (A) Planning (B) Coordinating (C) 24. Organising (D) Motivating Which of the management functions are closely related ? (A) Planning and organization (B) Staffing and control (C) 25. Planning and control (D) Planning and staffing Grapevine is a term used in relation to : (A) formal (B) informal communication (C) both formal and informal communication (D) 26. 1940 this term is not used in relation to communication The function of staff in an organisation is : (A) (B) advice the line (C) hold authority and responsibility (D) 27. take advice from the line fix responsibility for performance of tasks in a definite manner upon certain individuals Break-Even analysis deals with : (A) relationship between cost and cost mix (B) relationship between cost, output and profits (C) relationship between cost and sales (D) relationship between profit and sales J 0808 8 21. U U U ? (A) 22. 1920 (B) 1930 (C) 1935 . . (B) m U (C) (D) U U U ? (A) (B) S U (C) 24. U (D) U Z US U ? (A) U U (B) S U U (C) 25. U (D) U S U ? (A) U (B) U (C) U (D) 26. U S U (A) S U U (B) S U U (C) U U (D) 27. 1940 S U U U ? (A) 23. (D) c U C U U U - (Break-Even) (A) U (B) , U U (C) U (D) U J 0808 9 P.T.O. 28. Dissolution of firm takes place : (A) (B) The retirement of any one partner (C) By the expiry of term (D) 29. By the death or insolvency of any one partner By the insolvency of all but one partner X Ltd. purchased land and building worth Rs. 28,80,000 and in lieu issued debentures of Rs. 100 each at a discount of 4%. What are the number of debentures issued ? (A) 30. 28,800 (B) 30,000 X, Y and Z are partners in the ratio of (C) 32,000 (D) 34,000 12 1 what will be new ratio of the remaining :: 2 5 10 partners if X retires : (A) 31. 2:1 (B) 4:1 (C) 5:1 (D) Match items in List-I with items in List-II. List-I List-II (a) Mega Marketing (i) Advertising (b) Skimming Price (ii) Post Purchase Behaviour (c) Promotion mix (iii) High Price (d) Customer dissonance (iv) Philip Kotler Codes : (a) (b) (c) (d) (A) (iv) (iii) (i) (ii) (B) (i) (ii) (iii) (iv) (C) (iii) (i) (iv) (ii) (D) (ii) (iv) (iii) (i) J 0808 10 3:1 28. U (A) (B) U U U U U (C) U U (D) 29. U U U U U U U U 28,80,000 L U U U U 4% U 100 L - ( U U) U U U U U ? (A) 30. 28,800 , , (B) 30,000 (C) 32,000 (D) 34,000 12 1 U U U U U :: 2 5 10 U ? (A) 31. 2:1 (B) 4:1 (C) 5:1 (D) 3:1 -I U -II -I -II (a) (i) (b) S (ii) U (c) h (iii) (d) (iv) U U U (a) (b) (c) (d) (A) (iv) (iii) (i) (ii) (B) (i) (ii) (iii) (iv) (C) (iii) (i) (iv) (ii) (D) (ii) (iv) (iii) (i) J 0808 11 P.T.O. 32. Match the following : List-I List-II (a) Merchandise exports (i) Purchase of foreign goods (b) Merchandise imports (ii) Sales of goods abroad (c) Investment Income (iii) Largely caused by excess of imports over exports in merchandise (d) Balance of Payments Deficits (iv) Dividends, interest etc. received from abroad Codes : (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (ii) (i) (iv) (iii) (D) 33. (b) (iii) (iv) (ii) (i) Match items in List-I with items in List-II : List-I List-II (a) ABC analysis (i) Profitability (b) ROI (ii) Inventory control (c) Contribution Margin (iii) Project evaluation (d) NPV (iv) B/E analysis Codes : (a) (b) (c) (d) (A) (iii) (ii) (i) (iv) (B) (ii) (i) (iv) (iii) (C) (iv) (ii) (i) (iii) (D) (i) (iii) (ii) (iv) J 0808 12 32. -I -II U -I -II (a) U U $ (i) (b) U U $ (ii) (c) (iii) U U U (d) (iv) # , U (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (ii) (i) (iv) (iii) (D) 33. (b) (iii) (iv) (ii) (i) -I U -II U -I -II (a) ABC (i) (b) U. . . (ii) S U (c) (iii) U (d) . . . (iv) U (a) (b) (c) (d) (A) (iii) (ii) (i) (iv) (B) (ii) (i) (iv) (iii) (C) (iv) (ii) (i) (iii) (D) (i) (iii) (ii) (iv) J 0808 13 P.T.O. 34. Match the following : List-I List-II (a) Going Concern Concept (i) The same accounting method used by a firm from one period to another (b) Consistency (ii) Relates to the relative size or importance of an item or event (c) Cost principle (iii) An inappropriate assumption for a firm undergoing bankruptcy (d) Materiality (iv) The normal basis used to account for assets Codes : (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (iv) (iii) (ii) (i) (C) (iii) (ii) (iv) (i) (D) 35. (b) (iii) (i) (iv) (ii) Match the following : List-I List-II (a) Smoothed Frequency Curve (i) To determine and portray the number of proportions of cases (b) Histogram (ii) It is one dimensional (c) Bar diagram (iii) It is two dimensional (d) Ogives (iv) Can be drawn through various points of polygon Codes : (a) (b) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (iii) (iv) (ii) (i) (D) (iv) (iii) (ii) (i) J 0808 14 34. -I U -II U -I (a) -II (i) U U U U m U U (b) (ii) M U U U U (c) (iii) h U , U (d) (iv) U U U U U (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (iv) (iii) (ii) (i) (C) (iii) (ii) (iv) (i) (D) 35. (b) (iii) (i) (iv) (ii) -I U -II U -I -II (a) (i) U U (b) S U (ii) (c) U U (iii) m- (d) (iv) U U (a) (b) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (iii) (iv) (ii) (i) (D) (iv) (iii) (ii) (i) J 0808 15 P.T.O. 36. Match the following : List-I List-II (a) Merchandise Inventory (i) Prevents arbitrary changes from one accounting or measurement approach from one period to another (b) Comparability Quality (ii) Inventory of a retailer of wholesaler (c) Net Realisable Value (iii) Item acquired by purchase, growth or extraction of natural sources for further processing (d) Raw Materials Inventory (iv) Estimated selling price of product in the ordinary course of business Codes : (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (i) (iv) (iii) (C) (iii) (ii) (i) (iv) (D) 37. (b) (iv) (i) (ii) (iii) Match the following : List-I List-II (a) Maxi-min principle (i) take minimum pay-off of each action and whichever is minimum is best action (b) Mini-max principle (ii) take maximum pay-off of each action and whichever is maximum is best action (c) Max-max principle (iii) take maximum pay-off of each action and whichever is minimum is best action (d) Min-min principle (iv) take minimum pay-off of each action and whichever is maximum is best action Codes : (a) (b) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (iii) (iv) (i) (ii) (D) (iv) (iii) (ii) (i) J 0808 16 36. U -I (a) -II U U $ S (i) - U U (b) (ii) U U S (c) h (iii) d , m U # U S (d) (iv) S U U (a) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (i) (iv) (iii) (C) (iii) (ii) (i) (iv) (D) 37. (b) (iv) (i) (ii) (iii) -I U -II U -I -II (a) - h (i) , U c U (b) - h (ii) , U , c U (c) - h (iii) , U , c U (d) - h (iv) , U , c U U (a) (b) (c) (d) (A) (i) (ii) (iii) (iv) (B) (ii) (iii) (iv) (i) (C) (iii) (iv) (i) (ii) (D) (iv) (iii) (ii) (i) J 0808 17 P.T.O. 38. The hypothesis testing consists of following steps : (i) Establish a level of significance, prior to sampling (ii) Defining the rejection or critical regions (iii) State the hypothesis (iv) Determination of a suitable test statistic Which of the sequence is correct ? (A) (B) (iii), (i), (iv), (ii) (C) 39. (ii), (iii), (iv), (i) (iii), (ii), (iv), (i) (D) (iv), (iii), (ii), (i) Which of the following liabilities are taken into account for acid test ratio ? (i) (ii) Bank Overdraft (iii) Bills Payable (iv) Outstanding Expenses (v) Redeemable debentures (A) (i), (ii), (iii), (iv) and (v) (B) (i), (ii), (iii) and (iv) (C) 40. Trade Creditors (i) and (ii) only (D) (i), (iii) and (iv) Statements : (i) (ii) Apprenticeship programme is one which is widely used off the job training. (A) Both correct (B) Both incorrect (C) 41. Employee development is more future oriented and more concerned with education than employee training. (i) correct, (ii) incorrect (D) (i) incorrect, (ii) correct For profit maximization of a firm we must have : (i) (ii) Marginal cost curve cuts the average cost curve from below. (A) Only (i) is correct (B) Only (ii) is correct (C) 42. MC5MR Both incorrect (D) Both correct Statements : (i) Fringe benefits, now-a-days are a significant component of compensation. (ii) Under piece-rate plan, employees are paid at a stipulated rate per hour of work done by the employee. (A) Both are correct (B) Both are incorrect (C) (i) incorrect, (ii) correct (D) (i) correct, (ii) incorrect J 0808 18 38. U U U (i) S U S U (ii) S U U U (iii) U U (iv) U U (A) (C) 39. (ii), (iii), (iv), (i) (iii), (ii), (iv), (i) (iii), (i), (iv), (ii) (iv), (iii), (ii), (i) U ? (i) U U (ii) U U U (iii) (iv) (v) U (A) (i), (ii), (iii), (iv) (C) 40. (B) (D) (i) U (ii) U (v) (B) (i), (ii), (iii) (D) (i), (iii) U (iv) U (iv) (i) (ii) S U (A) (B) (C) 41. U U U c (i) , (ii) (D) (i) , (ii) ? (i) (ii) , U U (A) (i) (B) (ii) (C) 42. . .5 . U. (D) (i) (ii) - U U U U U U (A) (B) (C) (i) , (ii) (D) (i) , (ii) J 0808 19 P.T.O. 43. Statements : (i) (ii) The objective of Finance function is Profit maximisation (A) Both correct (B) Both incorrect (C) 44. The objective of Finance function is Wealth maximisation. (i) correct, (ii) incorrect (D) (i) incorrect, (ii) correct Statements : (i) (ii) Dividends can be paid when there are losses (A) Both are correct (B) Both are incorrect (C) 45. Dividends can be paid only when there are profits. (i) is incorrect, (ii) is correct (D) (i) is correct, (ii) is incorrect Statements : (i) The greater a firms degree of operating leverage, the more its EBIT will vary with respect to fluctuations in sales. (ii) The greater a firms degree of operating leverage, the less its EBIT will vary with fluctuations in sales. (A) Both correct (B) Both incorrect (C) (i) correct, (ii) incorrect (D) (i) incorrect, (ii) correct The Indian insurance industry has come a long way. From being providers of tax planning instruments to introducing concepts of retirement planning, wealth creation etc., customers are strengthening their ties with this industry every passing day. Today life insurance is among the fastest growing industries in India. Inspired by tremendous growth in the life insurance sector, many comparisons - product features, charge structures, returns etc - have been drawn between life insurance and other financial services, mostly mutual funds. These comparisons resulted in emergence of ULIPs as a preferred product and in fact they display some similarities with MFs. The individual policy holders or retail customers by the product when he or she wants systematically provide towards a specific important goal. They take money regularly out of their monthly or annual income to make contribution for their goal 5children education, health etc. Thus investment policies of life insurance companies are designed to enable policy holders meet their respective financial goals, while ensuring that the government is adequately funded for long term projects 46. Which of the following products are provided by Indian insurance industry ? (A) Tax Planning (B) Wealth-Creation (C) Retirement Planning (D) All of the above J 0808 20 43. (i) (ii) g U (A) (B) (C) 44. g U (i) , (ii) (D) (i) , (ii) (i) (ii) (A) (B) (C) 45. (i) , (ii) (D) (i) , (ii) (i) U U U U U- . . . U (ii) U U U U U- . . . U . (A) (B) (C) (i) , (ii) (D) (i) , (ii) U l U S U U U U U L U l U U l U l U l l U U U - C , U , - U U U , U S M M U U S U U U U g S U U g U M U , S S U, M U U U U C U U U - U U U U 46. Z U l m U ? (A) U (B) (C) (D) U J 0808 21 P.T.O. 47. Who is the majority investor in insurance companies ? (A) (B) Corporate Sector (C) Government Sector (D) 48. Individual Policy-Holder or Retail Customer Semi-Government Sector Which of the following is the primary objective of insurance companies to invest savings of customers ? (A) (B) Risky investments (C) 49. Steady increments Short-term investments (D) Medium-term investments Which type of customer-behaviour is observed for making investment in insurance companies ? (A) (B) Regular small-savings (C) 50. One-time savings Savings on sudden-gain (D) Retirement-savings only Insurance Companies and Mutual Funds both provides to customers : (A) Insurance Policies only (B) ULIPs (C) Bonds (D) Loans -oOo- J 0808 22 47. ? (A) (B) U U (C) U U (D) 48. U U U - U U g ? (A) (B) (C) 49. S U U (D) U U U ? (A) (B) U U (C) 50. S (D) U U (A) (B) (C) U (D) -oOo- J 0808 23 P.T.O. Space For Rough Work J 0808 24

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