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

Total Questions: 100

81. Arrange the following stages of the process of organizational change in the sequential order.

(A) Detailed consideration of the proposed change
(B) Collection of detailed information and development of alternative approaches in relation to the problem or issues
(C) Evaluation of various alternatives and framing a proposal
(D) Vocalization of the need to change
(E) Search for the main cause underlying the symptoms encountered
Choose the correct answer from the option given below:

Correct Answer:  (b) (D),(A),(E),(B),(C)
Solution:

Following are the stages of the process of organizational change in the sequential order:-
• Vocalization of the need to change
• Detailed consideration of the proposed change
• Search for the main cause underlying the symptoms encountered
• Collection of detailed information and development of alternative approaches in relation to the problem or issues.
• Evaluation of various alternatives and framing a proposal.

Note:- Organizational change is the process by which organization move from their present state to some desired future state to increase effectiveness.

82. Arrange the following steps, in a logical sequence of debt recovery by financial institutions through Debt Recovery Tribunals (DRTs):

(A) Restrain him from dealing with/disposal of the concerned assets/properties pending at the hearing of the application.
(B) Direct him to disclose particulars of properties other than those specified by the applicant bank.
(C) Show cause within 30 days as to why the relief should not be granted to the bank.
Choose the correct answer from the option given below.

Correct Answer: (d) (C),(B),(A)
Solution:

Following are the steps in logical sequence of debt recovery by financial institutions through Debt Recovery Tribunals (DRTs):-
• Show cause within 30 days as to why the relief should not be granted to the bank.
• Direct him (Defendant) to disclose particulars of properties other than those specified by the applicant bank.
• Restrain him (Defendant) from dealing with/disposal of the concerned assets/properties pending at the hearing of the application.
Note:- The steps briefly explained in The recovery of debts due to banks and financial institutions Act 1993.

83. Arrange the following steps of market feasibility study in the sequential order:

(A) Based on the cost and anticipated sales revenue, calculate the break-even price and the sales volume.
(B) Forecasting sales, based on demand estimation and competitive analysis.
(C) Estimation of demand in the target market, of different price levels.
(D) Estimating the cost of serving the market segment.
Choose the correct answer from the option given below.

Correct Answer: (b) (C),(B),(D),(A)
Solution:

Following are the steps of market feasibility study in the sequential order:-
• Estimation of demand in the target market of different price levels.
• Forecasting sales based on demand estimation and competitive analysis.
• Estimating the cost of serving the market segment.
• Based on the cost and anticipated sales revenue calculating the break-even price and sales volume.
Note:- Market feasibility study is a study that identify the success of a product in a particular market. It helps to identify the potential markets, competition, potential development in the market, and market analysis to evaluate the business idea or new product development idea.

84. Arrange the following for the grant of patent in a proper sequence:

(A) The true and first owner shall apply in from I and legal representative of true owner shall apply in form II
(B) A complete specification shall be filed with fee of 50/- within 12 months from the date of filing of application
(C) The first inventor of the work who claims to be true and first owner or his legal representative
(D) For each invention separate application for a patent shall be made
Choose the correct answer form the option given below

Correct Answer: (b) (C),(D),(A),(B)
Solution:

Following are the procedure for the grant of patent in a proper sequence:-
• The first inventor of the work who claims to be true and first owner or his legal representative.
• For each invention separate application for a patent shall be made.
• The true and first owner shall apply in form I and legal representative of true owner shall apply in form II.
• A complete specification shall be filed with a fee of ₹50/- within 12 months from from the date of filing of application.
Note:- A patent is an exclusive right granted for an invention which is a product or a process that provides, in general a new way of doing something, or offer a new technical solution to a problem.
The patents Act 1970 is the legislation that till date governs patents in India.

85. Sequence the steps for computing depreciation in income from Business and Business and Profession:

(A) The written down value of each block as on the last day of previous year
(B) Find the value of each block at the beginning of each year
(C) The money received along with scrap value, if any in respect of the same blocks, which are sold/discarded during the year
(D) Assets required during the year in the respective blocks to which the new assets belong
Choose the correct answer from the option given below

Correct Answer: (b) (B),(D),(C),(A)
Solution:

 The steps for computing depreciation in income from business and profession are:-
• Find the value of each block at the beginning of each year
• Assets required during the year in the respective blocks to which the new assets belong.
• The money received along with scrap value, if any in respect of the same blocks which are sold/discarded during the year.
Written Down value (WDV) of Block of Assets.

1.W.D.V. of the block of asets on 1 April of the previous year.×××
2.Add(+) Actual cost of assets acquired during the previous year×××
3.Total (1) + (2)×××
4.Less (–) Money received inrespect of any asset falling with in the block which is sold, discarded, demolished or destroyed during that previous year togather with scrap value. However, such amount cannot exced the amount in (3)×××
5.W.D.V. at the end of the year (on which depreciation is allowable) [(3).(4)]×××
6.Depreciation at the prescribed rate (Rate of Depreciation × WDV arrived at in (5) above)×××
7.WDV of the block of assets as on Ist april of the next year [(5) – (6)]×××

86. Given below are two statements. One is labelled as Assertion A and the other is labelled as Reason R.

Assertion A: Foreign investment is playing and increasing role in economic development and contributes to a significant share of the domestic investment, employment generation and exports.
Reason R: Substantial increase in the magnitude of capital inflows have remarkably improved the balance of payment and foreign exchange reserve position.
In the light of the above statements, choose the most appropriate answer from the option given below:

Correct Answer: (b) Both A and R are correct and R is NOT the correct explanation of A
Solution:Both A and B are correct and R is not the correct explanation of A.

87. Given below are two statements:

Statements I : If firms are disproportionately powerful, the market leader make the first move and captures two-thirds of the market share, while the follower firm gets only a third of the market share
Statement II : Oligopolistic firms do better by cooperating than following dominant strategy.
In the light of the above statements, choose the most appropriate answer from the options given

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

88. Given below are two statements. One is labelled as Assertion A and the other is labelled as Reason R.

Assertion A : Mean deviation is about 80% of Standard Deviation
Reason R : The quartile deviation is about 2/3 of the Standard Deviation.
In the light of the above statements, choose the most appropriate answer from the option given below:

Correct Answer: (a) Both A and R are true and R is the correct explanation of A
Solution:Both a and R are true & R is not the correct explanation of A
(Basic conceptual question)

89. Given below are two statements:

Statement I : Capital market plays an important role in mobilizing resources and diverting them in productive channels.
Statement II : Capital market is a market where buyers and sellers engage in trade of financial securities like bonds, stocks, etc.
In the light of the above statements, choose the correct answer from the option given below:

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

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

Assertion A : A, the owner of a ship by fraudulently representing her to be seaworthy induces an underwriter to insure the ship.
Reason R : B can obtain cancellation of the policy, as it is a fraud on account of fraudulent misrepresentation under the contract act.
In the light of the above statements, choose the correct answer from the option given below:

Correct Answer: (a) Both A and R are true and R 15 the correct explanation of A
Solution:Both A and R are true and R is the correct explanation of A.