NTA UGC NET/JRF Exam, June 2025 (Commerce)

Total Questions: 100

71. Which of the following formula correctly show the relationship Average Revenue (AR), Marginal Revenue (MR) and Price elasticity of demand?

Correct Answer: 3. MR = AR × (e - 1)/e
Solution:The correct formula showing the relationship between Marginal Revenue (MR), Average Revenue (AR), and Price Elasticity of Demand (e) is:
This formula reflects how MR depends on AR and elasticity.

72. Arrange the following exchange rate arrangements of international monetary system in chronological order. (Old to New)

A. Gold Standard
B. Commodity Specie Standard
C. Fixed Parity System
D. Floating Exchange Rate
Choose the correct answer from the options given below:

Correct Answer: 2. B, A, C, D
Solution:Chronological order of exchange rate arrangements:
B. Commodity Specie Standard - Earliest, based on actual commodities (e.g., silver).
A. Gold Standard - Fixed gold exchange system established later.
C. Fixed Parity System - Bretton Woods system post-World War II.
D. Floating Exchange Rate System - Adopted after the collapse of Bretton Woods in 1971.
Correct order: B → А → C → D.

73. Who can file petition to the Tribunal for the Winding up of a Limited Liability Partnership?

A. Secured Creditors
B. LLP or any of its Partners
C. Registrar of Companies
D. Any person authorised by the Central Government
E. Any Voluntary Association
Choose the correct answer from the options given below:

Correct Answer: 3. A, B, C and D only
Solution:Petition for winding up of an LLP can be filed by:
A. Secured Creditors - Can file if dues are unpaid.
B. LLP or any of its Partners - Can file voluntarily.
C. Registrar of Companies (ROC) — Can file if statutory requirements are violated.
D. Person authorized by the Central Government - Can file on behalf of the government.
E. Voluntary Associations - Not eligible to file winding-up petitions.
Correct set: A, B, C, D.

74. If the employee pays tax within the parameters of alternative tax regime under section 115 BAC then from assessment year 2025-26, standard deduction from salary income is:

Correct Answer: 3.75,000 or gross salary, whichever is lower
Solution:Under Section 115BAC, the alternative tax regime initially did not allow for standard deduction. However, the Finance Act, 2023 amended this and permitted a standard deduction of 50,000 for salaried employees and pensioners from Assessment Year (AY) 2024-25 onwards. Recent updates indicate that for Assessment Year 2025-26 (corresponding to FY 2024-25), the standard deduction has been increased to ₹75,000. This increase was specified to align with efforts to provide relief to middle-class taxpayers under the default new tax regime. Multiple credible sources confirm that from AY 2025-26, the standard deduction allowed under Section 115BAC for salaried individuals will be ₹ 75,000 or gross salary, whichever is lower. Therefore, the correct provision applicable for AY 2025-26 is ₹ 75,000 standard deduction under the new regime.

75. Which of the following are part of micro economics?

A. Product pricing
B. Consumer behaviour
C. Interest rate
D. Factor pricing
Choose the correct answer from the options given below:

Correct Answer: 2. А, В and D only
Solution:Microeconomics deals with individual economic units:
A. Product Pricing - Microeconomic topic.
B. Consumer Behaviour - Microeconomic study of individual decision-making.
D. Factor Pricing - Micro topic involving pricing of inputs (land, labour, capital).
C. Interest Rate - Though it can be micro when studying specific markets, it is generally a Macroeconomic variable when analyzed in context of monetary policy.
Correct set: A, B, D.

76. An unsecured short term promissory note, negotiable and transferable by endorsement and delivery with a fixed maturity period, issued at a discount by creditworthy corporates, primary dealers and all-India financial institutions is known as:

Correct Answer: 2. Commercial Paper
Solution:An unsecured, short-term promissory note, negotiable and transferable by endorsement and delivery, issued at a discount by corporates and financial institutions with a fixed maturity, is known as a Commercial Paper (СР).
• Treasury Bills are issued by the Government.
• Certificates of Deposit are time deposits issued by banks.
• Repo is a money market instrument involving repurchase agreements.

77. The type of market where few sellers are selling competing products to many buyers is known as:

Correct Answer: 3. Oligopoly
Solution:A market where few sellers dominate and sell competing or similar products to many buyers is known as an Oligopoly.
• Monopoly: Single seller dominates.
• Monopolistic Competition: Many sellers with differentiated products.
• Perfect Competition: Many buyers and sellers dealing in identical products.

78. A company produces and sells 10,000 toys. The selling price per toy is500, variable cost is 200 per unit and fixed operating cost is 25,00,000. Calculate operating Leverage.

Correct Answer: 3. 6 times
Solution:Given: Units Sold = 10,000
Selling Price per unit = 500
Variable Cost per unit = ₹ 200
Fixed Operating Cost = 25,00,000
Contribution per unit
= Selling Price - Variable Cost
=₹ 500 - ₹ 200 = ₹ 300
Total Contribution
= 10,000 × ₹ 300 = ₹ 30,00,000
Operating Leverage = Total Contribution EBIT
EBIT = Total Contribution - Fixed Costs
= ₹ 30,00,000 ₹ 25,00,000
= ₹ 5,00,000
Operating Leverage
=₹ 30,00,000 ÷ ₹5,00,000 = 6 times.

79. Which of the following statements is correct?

A. If a company is an Indian company, it will automatically be considered as a domestic company.
B. Foreign company means a company which is not a domestic company.
C. The exit status of an Indian company can be non-resident in India.
D. The resident status of a foreign company can never be resident in India.
E. The foreign income of a resident company is taxable in India.
Choose the correct answer from the options given below:

Correct Answer: 4. A. B and E only
Solution:A. Correct - An Indian company is automatically treated as a Domestic Company.
B. Correct - Foreign company is one which is not a Domestic Company.
C. Incorrect - An Indian company can never become a non-resident in India; it is always resident.
D. Incorrect - A Foreign Company can be considered Resident in India if its place of effective management (POEM) is in India.
E. Correct - The global income of a Resident Company (Indian or foreign) is taxable in India.
Correct set: A, B, Е.

80. Identify the correct order in which the assets of the firm shall be applied in case of dissolution of a partnership firm:

A. Paying to each partner rateably what is due to him from the firm for advances as distinguished from capital.
B. Paying the residues if any to partners in the proportion in which they were entitled to share profit.
C. Paying the debts of the firm to third parties.
D. Paying to each partner rateably what is due to him on account of capital.
Choose the correct answer from the options given below:

Correct Answer: 3. C, A, D, B
Solution:Correct order of application of assets during Dissolution of Partnership Firm as per the Indian Partnership Act:
1. Paying debts of the firm to third parties (C)
2. Paying to each partner rateably what is due to him from the firm for advances as distinguished from capital (A)
3. Paying to each partner rateably what is due to him on account of capital (D)
4. Paying the residues, if any, to partners in the profit-sharing ratio (B)
Sequence: C → А → D → B.