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UGC NET DEC 2008 :COMMERCE PAPER II

24 pages, 100 questions, 42 questions with responses, 43 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. D 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. D 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. Job analysis provides information used for : (A) (B) Policy (C) 2. Organisation chart Procedure (D) Promotion In functional organisation : (A) (B) The authority flows from the man at the top to the lowest man vertically. (C) Each worker serves only one supervisor (D) 3. The organisation is divided according to the type of work involved. The organisation is divided according to the skill required to perform a work. Which of the following relates to training workers ? (A) (B) Induction (C) 4. Job rotation Vestibule (D) Task 360 degree method relates to : (A) (B) Organisation climate (C) Employees morale (D) 5. Performance appraisal Retrenchment method Human relations approach of management is associated with : (A) (B) Peter F. Drucker (C) 6. Abraham Maslow Elton Mayo (D) Herzberg Attrition is related to : (A) Job description (B) Resignation/Termination (C) Job evaluation (D) Merit rating D 0808 2 II U (50) - (2) U 1. m U (A) (B) (C) 2. U U h (D) U (A) (B) L U S U U Q Q (C) U U U (D) 3. U m U U S U c U U U U ? (A) (B) (C) 4. U U S U (D) 360 U h ? (A) (B) U U (C) 5. c U (D) U h C U ? (A) (B) U U . U U (C) 6. S U (D) $ U ? (A) U (B) S / S (C) (D) U U U D 0808 3 P.T.O. 7. The economic reforms have failed to : (A) (B) Fully implement industrial deregulation. (C) Fully open the economy to trade. (D) 8. Keep fiscal deficits to the targeted levels. All of the above Which of the following developments was not noticed during 1991 (economic reforms) ? (A) (B) Inflation crossed double digits. (C) Foreign reserves were maintained at a very high level. (D) 9. National debt was nearly 60 percent of the GNP of India. None of the above. Which of the following statement is incorrect ? (A) (B) Firms in a perfectly competitive market are price takers. (C) It is always beneficial for a firm in a perfectly competitive market to discriminate prices. (D) 10. Even monopolistic can earn losses. Kinked demand curve is related to an oligopolistic market. Which of the following is the best general definition of the study of economics ? (A) (B) The best way to invest in the stock market. (C) Business decision making under foreign competition. (D) 11. Inflation and unemployment in a growing economy. Individual and social choice in the face of scarcity. Which of the following statements is correct ? (A) (B) At present, income tax revenues from the agriculture sector are negligible. (C) Commercial banks are providing loans to the agriculture sector at zero interest rate. (D) 12. Under zamindari system, farmers directly paid land revenue to the state. None of the above. Which of the following statements is incorrect ? (A) About 80 per cent of agricultural area has irrigation facilities. (B) About two third area is rain-fed in India. (C) Productivity per worker in agriculture is much lower than that in industry. (D) Cropping pattern is quite skewed in India. D 0808 4 7. U U U ? (A) (B) l U (C) S U U (D) 8. U U S U U Q U R U 1991 ( U ) U (A) U$ S U U U (D) 9. S U U (C) ? U C U . . U 60 (B) Q ? (A) (B) U Z U (C) U U (D) 10. U U R U U h S D U ? (A) (B) S U U D U (C) U (D) 11. S S U U U Q U ( ) ? (A) (B) , U U S (C) U U U U (D) 12. U , U Q ? (A) 80 # (B) U - (C) l (D) U U S U D 0808 5 P.T.O. 13. Abolition of intermediaries and tenancy reforms area both parts of : (A) (B) External sector reforms in India. (C) Land reforms in India. (D) 14. Industrial reforms in India. Banking reforms in India. Which of the following is not a measure of dispersion ? (A) (B) Mean Deviation (C) Standard Deviation (D) 15. Skewness Quartile Deviation The immediate solvency ratio is : (A) (B) Quick Ratio (C) Debtors Turnover Ratio (D) 16. Current Ratio Stock Turnover Ratio The Foreign Exchange Management Act (FEMA) was implemented in the year : (A) (B) 1997 (C) 17. 1996 1998 (D) 1999 SEZ Policy in India is motivated by the experience of : (A) (B) China (C) 18. Japan USA (D) Germany In order to control credit : (A) (B) CRR should be decreased and Bank Rate should be decreased. (C) CRR should be increased and Bank Rate should be increased. (D) 19. CRR should be increased and Bank Rate should be decreased. CRR should be decreased and Bank Rate should be increased. In order to control credit in the country, the RBI may : (A) Buy Securities in the open market. (B) Sell Securities in the open market. (C) Reduce CRR. (D) Reduce Bank Rate. D 0808 6 13. S U U U ? (A) (B) U s U (C) U U (D) 14. U l U U h U ? (A) (B) (C) 15. S (D) h (A) (B) U (C) 16. U U (D) S U U U ( - . . . ) ? (A) (C) 17. 1996 1998 (B) (D) 1997 1999 $ ( ) U U (A) (B) (C) 18. U (D) R U U ( ) ? (A) (B) U U U U U U (C) U U h U U h (D) 19. U U U U U U U U U U R U U U U U ? (A) U R (B) U R (C) U U U (D) U U D 0808 7 P.T.O. 20. Which bank is called the Bank of Issue ? (A) (B) SBI (C) 21. RBI IDBI (D) ICICI In order to encourage investment in the country, the RBI may : (A) (B) Increase CRR (C) Sell Securities in the open market (D) 22. Reduce CRR Increase Bank Rate The term funds as used in funds flow statement means : (A) (B) Current Assets (C) Current Liabilities (D) 23. Cash Current Assets minus Current Liabilities What is the Fundamental Premise of Economics ? (A) (B) Natural resources will always be scare. (C) Individuals choose the alternative for which they believe the net gains to be the greatest. (D) 24. Individuals are capable of establishing goals and acting in a manner consistent with achievement of those goals. No matter what the circumstances, individual choice always involve a trade-off. The consumer is in equilibrium at a point where the budget line : (A) (B) Is above an indifference curve (C) Is tangent to an indifference curve (D) 25. Is below an indifference curve Cuts an indifference curve Which of the following statements is correct concerning the relationships among the firm s functions ? (A) TC5TFC2TVC (B) TVC5TFC2TC (C) TFC5TC2TVC (D) TC5TVC2TFC D 0808 8 20. ? (A) (B) (C) 21. U U (D) U U U (A) (B) U U U U (C) U (D) 22. U U U U h U$ S U U U ( U ) ( U$ ) (A) (B) (C) (D) 23. U - S U ? (A) (B) U (C) Q U h ( ) (D) 24. Q S U U L U U S U , Q S Q U U U (A) (B) R U (C) R S U (D) 25. R R U Z (A) TVC5TFC2TC (C) TFC5TC2TVC (D) TC5TFC2TVC (B) TC5TVC 2TFC D 0808 9 P.T.O. 26. In perfect competition in the long run there will be no__________. (A) (B) Supernormal profits (C) Production (D) 27. Normal profits Costs An indifference curve slopes down towards right since more of one commodity and less of another result in : (A) (B) Greater satisfaction (C) Maximum satisfaction (D) 28. Same satisfaction Decreasing expenditure Which of the following results in the flow of funds ? (A) (B) Loss on the sale of machinery (C) Transfer to general reserve (D) 29. Creditors issued bills payable Building sold on credit If net profit is Rs. 25,000/- after writing off preliminary expenses of Rs. 5000/- then the funds from operation will be : (A) (B) Rs. 30,000/- (C) Rs. 20,000/- (D) 30. Rs. 25,000/- Rs. 10,000/- Which of the following is a non-current liability ? (A) Bills payable (B) Sundry creditors (C) Bank overdraft (D) Long term loans D 0808 10 26. (A) (B) (C) 27. (D) R U S U U U (A) (B) L (C) (D) 28. U U U ? (A) (B) U R U (C) U (D) 29. U m U U U U 5000 L U Z ^ U h 25000 L U U ? (A) (B) 30,000 L (C) 20,000 L (D) 30. 25,000 L 10,000 L ? (A) (B) (C) U U U (D) D 0808 11 P.T.O. 31. Match the followings : List - I List - II (a) Indira Awas Yojana (i) This programme was launched in 2001. This programme aims at providing wage employment in rural areas and food security to the people. (b) Sampoorna Grameen Yojana (ii) This is a major scheme for construction of houses to be given to the poor, free of cost. (c) Pradhan Mantri Gram Sadak Yojana (iii) This was introduced in April 1999 as a result of restructuring and combining the Integrated Rural Development Programme. (d) Swaran Jayanti Gram Swarozgar (iv) Yojana This was introduced in December 2000 to provide road-connectivity through good all weather roads to unconnected villages. Code : (a) (c) (d) (A) (ii) (i) (iv) (iii) (B) (i) (ii) (iv) (iii) (C) (iii) (iv) (ii) (i) (D) 32. (b) (iv) (iii) (ii) (i) Match the following : List - I List - II (a) WTO (i) Provides loans to address short-term balance of payments problems. (b) RBI (ii) Multilateral trade negotiating body. (c) IMF (iii) Facilitating lending and borrowing for reconstruction and development. (d) IBRD (iv) Central Bank of India. Code : (a) (b) (c) (d) (A) (ii) (iv) (i) (iii) (B) (iv) (iii) (ii) (i) (C) (iii) (ii) (iv) (i) (D) (i) (ii) (iii) (iv) D 0808 12 31. -I U -II -I (a) -II (i) U R 2001 U R g U U l U U (b) (ii) S U (c) (iii) 1999 R U U U (d) S S U U (iv) U U 2000 g U U U P U U U (A) (b) (i) (c) (iv) (d) (iii) (B) (C) (D) 32. (a) (ii) (i) (iii) (iv) (ii) (iv) (iii) (iv) (ii) (ii) (iii) (i) (i) -I U -II -I (a) -II (i) U U S U (b) U (ii) U U U U U (c) (iii) Z U - (d) (iv) U U U U U (A) (a) (ii) (b) (iv) (c) (i) (d) (iii) (B) (C) (D) (iv) (iii) (i) (iii) (ii) (ii) (ii) (iv) (iii) (i) (i) (iv) D 0808 13 P.T.O. 33. Match the items in List - I with items in List List - I (a) Margin of Safety (i) (b) ROI (ii) (c) Current Ratio (iii) (iv) (d) Cash Equivalents Code : (a) (A) (ii) (c) (i) (d) (iv) (B) (C) (D) 34. (b) (iii) (i) (ii) (ii) (iv) (iii) (iii) (ii) (i) (iv) (iii) (iv) (i) Match the items in List - I with items in List List - I (a) Theory X (i) (b) Theory Y (ii) (c) Theory Z (iii) Codes : (a) (A) (i) (b) (ii) (iii) (i) (i) - II : List - II Participative Autocratic Democratic (c) (iii) (B) (C) (D) 35. - II : List - II Earning Power Cash Flow statement Break Even analysis Solvency (i) (ii) (iii) (ii) (iii) (ii) Match the items in List - I with items in List List - I (a) Peter F. Drucker (i) (b) Henry Fayol (ii) (c) McAurthy (iii) (d) McLeland (iv) Code : (a) (A) (i) (b) (ii) (c) (iii) (d) (iv) (B) (C) (D) (iii) (i) (i) (iv) (ii) (iv) (i) (iii) (ii) D 0808 (ii) (iv) (iii) 14 - II : List - II Unity of command Achievement Motivation M.B.O. 4 Ps of marketing 33. -I U -II -I -II (a) U (i) (b) U U (ii) U U (c) (iii) - (d) U L (iv) h U (A) (B) (C) (D) 34. (a) (ii) (iii) (iv) (i) (b) (iii) (i) (ii) (ii) -I U -I (c) (i) (iv) (iii) (iii) (d) (iv) (ii) (i) (iv) -II -II (a) U X (i) U U (b) U Y (ii) U U (c) U Z (iii) U R U U (A) (B) (C) (D) 35. (a) (i) (ii) (iii) (ii) (b) (ii) (iii) (i) (i) (c) (iii) (i) (ii) (iii) -I U -II -I -II (a) U U . U U (i) U (b) U (ii) U (c) (iii) . . (d) U (iv) U (P) U (A) (B) (C) (D) D 0808 (a) (i) (ii) (iv) (iii) (b) (ii) (iii) (i) (i) (c) (iii) (iv) (ii) (iv) (d) (iv) (i) (iii) (ii) 15 P.T.O. 36. Match the following : List - I List - II (Decisions regarding branding) (Explanation) (a) Diversification (i) Preservation of product (b) Quality (ii) Production of one or more products (c) Variety (iii) Finding of new products in same line (d) Packing (iv) Various product Code : (a) (c) (d) (A) (ii) (iv) (i) (iii) (B) (iii) (ii) (iv) (i) (C) (iii) (i) (iv) (ii) (D) 37. (b) (iv) (iii) (ii) (i) Statements : (i) (ii) Undercapitalisation is more desirable (A) Both are Correct (B) Both are incorrect (C) (i) is correct (ii) is incorrect (D) 38. Overcapitalisation is desirable (ii) is correct (i) is incorrect Statements : (i) (ii) High morale need not necessarily lead to high productivity (A) Both are correct (B) Both are incorrect (C) (i) is correct (ii) is incorrect (D) 39. High morale leads to high productivity (i) is incorrect (ii) is correct Statements : (i) Maslows theory conveys hygiene factors (ii) Maslows theory conveys satisfied need is no more a motivator (A) (i) is correct (ii) is incorrect (B) (ii) is correct (i) is incorrect (C) Both are correct (D) Both are incorrect D 0808 16 36. -I U -II -I ( U ) -II ( ) (a) U (i) U (b) (ii) (c) (iii) Q (d) (iv) U (A) (B) (C) (D) 37. (a) (ii) (iii) (iii) (iv) (b) (iv) (ii) (i) (iii) (c) (i) (iv) (iv) (ii) (d) (iii) (i) (ii) (i) (i) (ii) U U (A) (B) (C) R (i) U R (ii) (D) 38. U U R . . (ii) U R (i) (i) (ii) U (A) (B) (C) U U (D) 39. U U U U U (i) h U U U (ii) h U C U U (A) U U (B) U U (C) (D) D 0808 17 P.T.O. 40. Statements : (i) (ii) Agency theory relates to middlemen. (A) Both are correct (B) Both are incorrect (C) (i) is correct (ii) is incorrect (D) 41. Agency theory relates to the relationship between management and employees. (ii) is correct (i) is incorrect Statements : Assertion - (A) : Demand for a commodity refers to quantity of the commodity demanded at a certain price during any particular period of time. Reason - (R) : Contraction of demand is the result of increase in the price of the good concerned. (A) (B) Both (A) and (R) are incorrect (C) (A) is correct but (R) is incorrect (D) 42. Both (A) and (R) are correct (A) is incorrect but (R) is correct A leader uses the following methods : (i) Uses criticism (ii) Encourages growth (iii) Sets objectives (iv) Gives orders and directions Which of these methods are used by a democratic leader ? (A) (B) (iii) and (iv) (C) 43. (i) and (ii) (ii) and (iii) (D) (i), (ii) and (iv) In the technique of MBO : (i) Overall objectives are set at the top of the organisational hierarchy (ii) Individual objectives coincide with objectives of the organisation (iii) Performance should be evaluated periodically (iv) Objectives are decided at the subordinate level (A) (i) and (ii) (B) (i), (ii) and (iii) (C) (i) and (iii) (D) (i), (ii), (iii) and (iv) D 0808 18 40. (i) (ii) h S Q h (A) (B) U (C) , U U (D) 41. h U U , U U - A : S S U U U - R : h S h U (A) (B) (A) U (R) (C) (A) U (R) (D) 42. (A) U (R) (A) U (R) ( ) U (i) (ii) U (iii) U (iv) U U Q m U ? (A) (B) (iii) U (iv) (C) 43. (i) U (ii) (ii) U (iii) (D) (i), (ii) U (iv) (i) S g U U U (ii) Q g U g (iii) c - U (iv) g S S U U U (A) (i) (ii) (B) (i), (ii) (iii) (C) (i) (iii) (D) (i), (ii), (iii) (iv) D 0808 19 P.T.O. 44. Staffing includes : (i) (ii) Appraisal (iii) Placement (iv) Directing (A) (i) and (iii) (B) (i), (ii) and (iii) (C) 45. Training (ii) and (iii) (D) (i), (ii), (iii) and (iv) Working capital cycle involves the following : (i) Acquisition of Raw material (ii) Finished goods (iii) Receivables (iv) Cash (v) Work in progress Which of the sequence is correct ? (A) (iv), (iii), (i), (v), (ii) (B) (i), (ii), (iii), (iv), (v) (C) (i), (v), (ii), (iii), (iv) (D) (iv), (i), (ii), (iii), (v) Read the following passage and answer the questions from 46 to 50 : Accounting is the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by the users of the information. It primarily focusses on measurement, analysis, interpretation and use of information. As an information system, accounting links an information source, a channel of communication and set of receivers. Accounting system should be designed to classify financial information on a basis suitable for decision-making purposes and to process the tremendous quantities of data efficiently and accurately. Financial accounting is concerned with providing information to external users and it is oriented towards the preparation of final statements which summarises the results of operations for selected periods of time and show the financial position of business at particular date. Management accounting is concerned with providing information to managers to carry out their responsibilities and functions such as planning, execution, control and decision - making. The end product of the financial accounting process is a set of reports called financial statement, such as, profit and loss account, balance-sheet and statement of changes in financial position. Profit & loss account shows the results of operations for a period of time, balance-sheet shows finanical position on certain date and statement of changes in financial position shows where the financial resources have come and where they have gone. 46. A list of assets, liabilities and owner s equity of a business enterprise as of a specific date is : (A) Income Statement (B) Cash Flow Statement (C) Balance Sheet (D) Profit and Loss Account D 0808 20 44. S U C (i) (ii) (iii) U (iv) U (A) (i) (iii) (B) (i), (ii) (iii) (C) 45. (ii) (iii) (D) (i), (ii), (iii) (iv) (B) (D) (i), (ii), (iii), (iv), (v) (iv), (i), (ii), (iii), (v) R (i) # (ii) U (iii) # U (iv) (v) U (A) (C) (iv), (iii), (i), (v), (ii) (i), (v), (ii), (iii), (iv) U U 46 50 U U U , U U U R U U , U h M , S , U U - # S U L U U U U U U U U U U Q U U U U (S U U U ) U U Q C U U U U U U U S U , U , U Z U U R M U U Z U U - U , U U S U U - U U U U , U U S U U U S U U d U 46. - l U , U S ? (A) U (B) U (C) U ( - U ) (D) - U D 0808 21 P.T.O. 47. The balance-sheet is related to the income statement in the same way that : (A) (B) A period of time is related to a point in time (C) A point in time is related to another point in time (D) 48. A point in time is related to a period of time A period of time is related to another period of time The properties own by a business enterprise are called : (A) (B) Liabilities (C) 49. Assets Capital (D) Owner s Equity Which of the following is an important reason for studying accounting ? (A) (B) Accounting plays an important role in society (C) The study of accounting could lead to a challenging career. (D) 50. The information provided by accounting is useful in making many economic decisions. All of the above. Statement of changes in financial position shows : (A) Sources and uses of funds (B) Assets and Liabilities (C) Income and Expenses (D) Losses and Gains. -oOo- D 0808 22 47. U U (A) (B) (C) (D) 48. l ? (A) (B) (C) 49. (D) S U, , U ? (A) (B) (C) U U (D) 50. m U h U Q S U U (A) U U (B) U (C) U (D) U -oOo- D 0808 23 P.T.O. Space For Rough Work D 0808 24

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