NTA UGC NET/JRF Exam, Dec. 2020/June 2021 Commerce (Morning-Shift)

Total Questions: 100

31. SBUs or products that have lost their position of leadership and are in the low growth markets, are known as

Correct Answer: (c) Dog
Solution:

SBUs or products that have lost their position of leadership and are in the low growth markets are known as Dog.

BCG Matrix stands for Boston consulting group it is useful tool for analyzing a diversified companys, business portfolio.

SBU (Strategic Business unit) is a unit of the company that has a separate mission and objectives that can be planned independently from other company busiress.

32. Which of the following is not a valid basis for market segmentation?

Correct Answer: (b) Technology Oriented Segmentation
Solution:

Technology oriented segmentation is not a valid basis for market segmentation.
Market segmentation is a marketing concept which .......... the a broad consumer or business market, normally consisting of existing and potential customers, into subgroups of consumers based based on some type of shared characteristics.
Basis of market segmentation are :-
- Demographic segmentation
-Geographical segmentation
-Psychographic segmentation
-Behavioral segmentation
-Product- value segmentation

33. Which one of the following statements is a promissory note?

Correct Answer: (d) I acknowledge to be indebted to you for Rs. 10,000 to be paid on demand for value received.
Solution:

I acknowledge to be indebted to you for ₹10,000 to be paid on demand for value received, is a statement of promissory note:
A promissory note is a legal financial tool declared by a party, promising another party to pay the debt. on the particular day.
It is a written agreement signed by drawer with a promise to pay the money on specific date or whenever demanded.

34. A claim for 'quantum meruit' cannot succeed :

Correct Answer: (b) When an indivisible contract for a lumpsum is partly performed
Solution:

A claim for 'quantum mertuit' cannot succeed when a indivisible contract for a lumpsum is partly performed.

Quantum Meruit - Under Indian contract act 1872, what one has earned" or as much as he has earned hears a reasonable sum of money to be paid for services rendered or work done when the amount due is not stipulated in a legally enforceable contract ."

It is only an obligation created by law not a contractuall remedy.
On obligation a person claim payment in following cases :- work done & goods supplied without contract:
-When original contract has been terminated breach of contract by one party.
-Work don’t and accepted under void agreement.

35. The first offence for infringement of copyright can be for a maximum of imprisonment for a term of

Correct Answer: (c) 3 years and a fine of Rs. 2,00,000
Solution:

The offence of infringement of copyright can be for a maximum of imprisonment of term of 3 year and a fine of ₹2,00,000.

Section 63 in copyright Act 1957 states that the imprisonment for a term which shall not be less than six months but which may extend to three years and with fine which shall not be less than fifty thousand rupees but which may extend to two lakh rupee.

36. Which one of the following conditions does not constitute a valid agency by necessity?

Correct Answer: (d) Destruction of the subject matter of the contract of agency
Solution:

Destruction of the subject matter of the contract of agency does not constitute a valid agency by necessity.
Agency of necessity - arises where there is no express or implied appointment of a person as agent for another but he is forced to act on behalf of a particular person.

Example :- The master of ship which is in distress and| requires heavy and urgent repairs can pledge the shop or cargo (without express or implied authority) and arise money in order to execute the voyage'. He will be considered as the agent of the owner by necessity.

When does agency end or terminate?
(b) By the destruction of the subject matter, (section 56).

37. If assessee is engaged in the business of growing and manufacturing tea in India, the non-agricultural income in that case be :

Correct Answer: (a) 40% the income from such business
Solution:

It assessee is engaged in the business of growing and manufacturing tea in India. The nonagricultural income in that case be 40% the income from such business.

38. AMT provisions are applicable on :

Correct Answer: (b) Non Corporate assessee
Solution:

AMT provisions are applicable on Non - corporate assessee alternate minimum tax [15 JC]
The provisions of section 115JC are applicable both to firm and LLP where the regular income tax payable for a previous year is less than the alternate minimum tax payable for such previous year.

39. X, an employee of the private company, gets Rs. 30,000 p.m. basic salary and entitled to Rs. 1,500 p.m. as entertainment allowance. What are the deductions u/s 16 (ii) from gross salary in respect of entertainment allowance?

Correct Answer: (d) Nil
Solution:

Here, X is an employee of the private company so, he will not get deduction on entertainment allowance.

Entertainment Allowance [section 16 (ii)] : Deduction of the least of the 20% of basic salary, ₹5000 & actual allowance shall be allowed to the government employees only.

40. Which of the following provident fund is approved by the provident fund commissioner?

Correct Answer: (b) Recognized provident fund
Solution:

Recognised provident fund is approved by the fund commissioner.
Recognised provident fund (RPF) means a provident fund recognised by the commissioner of income tax for purpose of income -tax.

A fund constituted under the emplyees' provident fund and misceclaneous provisions
Act 1952 will also be a Recognised providint fund.