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

Total Questions: 100

81. Arrange the following characteristics of stages development in the increasing order

(a) Members begin to resolve differences and clarify the purpose of the group and the roles of group members
(b) It includes recognition for participation and achievement
(c) Members are highly task-oriented and there is unity in the group
(d) Conflicts start arising due to the differences of opinion among members
(e) Members are moderately eager, have positive expectations, anxious about why they are there, and who other members are
Choose the correct answer from the options given below :

Correct Answer: (c)
Solution:

Following are the characteristics of stages of group development in the increasing order :-
Members are moderately eager, have positive expectations anxious about why they are there, and who other member are.
Conflicts start arising due to the differences of opinion among members.
Members begin to resolve differences and clarify the purpose of the group and the roles of group members.
Members are highly task- oriented and there is unity in the group.
It includes recognition for participation and achievement.

82. Arrange the following steps in logical sequence of operation of the registration of portfolio managers

(a) Prior approval of the SEBI
(b) Adequate steps for redressal of investors grievances
(c) Maintenance of the specified capital adequacy requirements
(d) Payment of fee
(e) Abide by the regulations under the SEBI act
Choose the correct from the options given below :

Correct Answer: (c)
Solution:

The following are the steps in logical sequence of operation of the registration of portfolio managers :-
Prior approval of the SEBI
Payment of Fee
Adequate steps for redressed of investors grievances.
Maintenance of the specified capital adequacy requirements.
Abide by the regulations under the SEBI act.

83. Arrange the following stages of consumer decision making process in a sequential order with regard to a young Divya :

(a) looks for a specific colour and showroom delivery as she does not want to wait.
(b) narrows down to a dark car of a specific brand.
(c) belongs to an executive group and all her colleagues have their own vehicles
(d) uses media and other social channels to collect information about different models. (e) feels that fuel efficiency should be the most critical factor while making a choice.
Choose the correct answer from the options given below :

Correct Answer: (b)
Solution:

Following are the stages of consuming decision making process in a sequential order with regard to a young person Divya.
First - Belongs to an executive group and all her colleagues have their own vehicles.
Second - Feels that fuel efficiency should be the most critical factor while making a choice.
Thirst - Uses media and other social channels to collect information about different models.
Fourth - Looks for a specific colour and showroom delivery as she does not want to wait.
Fifth - Narrow down to a dark grey car of a specific brand.

84. Arrange the following stages of formation of companies in a proper sequence :

(a) Promotion stage
(b) Raising of share capital stage
(c) Incorporation stage
(d) Commencement stage
(e) Selection of name
Choose the correct answer from the options given below :

 

Correct Answer: (c)
Solution:

Following are the stages of formation of companies in a proper sequence :
1. Promotion stage - It is first step in formation of a company where idea of starting business is converted into reality by promoters.
2. Selection of name - Registration of the selected name of company.
3. Incorporation stage - When all documentation is done the registrar issued certificate of incorporation.
4. Raising of share capital stage- After the company is incorporated the next stage is to raise the necessary capital.
5. Commencement stage- The certificate of commencement of business is required for public company to start buisness private company can start buisness after incorporation.

85. Sequence the steps for computing gross annual value of income from house property :

(a) Find out the rent actually received or receivable after excluding unrealized Rent before deducting loss due to vacancy.
(b) Find out the less because of vacancy
(c) Find out the reasonable expected rent of the property.
(d) Find out which one is the higher amount computed in (C) or (A).
(e) (D) - (B) is gross annual value
Choose the correct from the options given below :

Correct Answer: (a)
Solution:

The steps for computing gross annual value of income from house property is :-
(A) Find out the reasonable expected rent of the Proneny:
(B) Find out the rent actually received or receivable after excluding unrealised rent before deducting loss due to vacancy.
(C) Find out the which one is the higher amount computed in (B) & (A) as above.
(D) Find out the loss because of vacancy.
(E) (C)- (D) is gross annual value.
Property vacant during the year - Where let out property is vacant for part of the year and owing to vacancy, the actual rent is lower than the ER, then the actual rent received or receivable will be the GAV of the property.

86. Given below are two statements :

Statement I : Deferred Tax Liabilities (Net) is the amount of tax on the temporary difference between the accounting income and taxable income. It arises when the accounting income is more than the taxable income.

Statement II : Deferred Tax Liabilities (Net) and Deferred Tax Assets (Net) are only book entires i. e. they are neither actual liability nor actual asset.

In the light of the above statements, choose the correct answer from the options given below : 

Correct Answer: (a) Both Statement I and Statement II are true
Solution:

Both statement I and statement II are true.
Statement I :- Deferred Tax liability (Net) is the “P ; , amount of tax on the temporary difference between the accounting income and taxable income. It arises when the accounting income is more than the taxable income.

Statement II :- Deferred Tax liabilities (Net) and  deferred Tax Assets (Net) are only book entries i.e. they are neither actual liability not actual asset.

87. Given below are two statements :

Statement I : Modified Internal rate of return is based on reinvestment assumption.
Statement II : Value - additivity principle is not computed in (C) or (A). applicable in NPV
In the light of the above statements, choose the most appropriate answer from the options below :

Correct Answer: (c) Statement I is correct but Statement II is incorrect
Solution:

Statement I is correct but statement II is incorrect.
Statement -I  Modified Internal rate of return is based on reinvestment assumption.
Statement -II value - additively principle is not applicable in NPV.
Note :- Value additively principle is applicable in NPV. According to this principle the value of the total NPV of a bigger project is equal to the summation of all smaller NPVs. projects.

88. Given below are two statements :

Statement I : Delegation is an interpersonal transactions based on behaviour analysis.
Statement II : Delegation is an evalutionary and development process which needs encouragement and reinforcement.
In the light of the above statements, choose the most appropriate answer from the options given below : 

Correct Answer: (d) Statement I is incorrect but Statement II is correct
Solution:

Statement I is incorrect but statement II is correct.
Statement -I Delegation is an interpersonal transactions based on behaviour analysis. (Incorrect)
Note :- Delegation is not an interpersonal transactions delegation is an administrative process of getting things done by others by giving them responsibility.
Statement -II Delegation is a evolutionary and development process which needs encouragement and reinforcement.

89. Given below are two statements :

Statement I : Only low priced products will sell in rural india.
Statement II : Rural consumers are a homogenous lot
In the light of the above statements, choose the most appropriate answer from the options given below :

Correct Answer: (b) Both Statement I and Statement II are incorrect
Solution:

Both Statement -I and Statement -II are incorrect.
Statement -I - Only low priced products will sell in rural India.
Note :- In rural market both low well as high price products will sell also.
Statement -II Rural consumers are a homogenous lot
Note. In rural consumers are both homogenous and heterogeneous because needs and wants of consumer are different.

90. Given below are two statements : one is labelled as Assertion A and the other is labelled as Reason R.

Assertion A : ITR- 1 can be an individual whose total income does not use by exceed Rs. 1 Crore.
Reason R : ITR- 1 cannot be used by an individual who is director in a company
In the light of the above statements, choose the most appropriate answer from the options given, below

Correct Answer: (d) A is not correct but R is correct
Solution:

A is not correct but R is correct
Assertion A :- ITR -1 can be used by an individual whose total income does not exceed Rs. 1 crore.
Reason R :- ITR -1 cannot be used by an individual who is director in a company.
Note :- ITR -1 can be used by the individual whose total income does not exceed ₹50 Lakh.