NTA UGC NET/JRF Exam, September 2024 (Commerce)

Total Questions: 100

61. Which of the following are true about chisquare test and chi-square distribution?

(a) Chi-square test is a non-parametric test.
(b) Chi-square test was developed by spearman.
(c) Chi-square distribution can never be negative.
(d) Chi-square distribution is a discrete  distribution.
(e) Chi-square distribution is a function of its degree of freedom.
Choose the correct answer from the options given below:

Correct Answer: B. (a), (c) & (e) only
Solution:Regarding the chi-square test and chisquare distribution:
(a) Chi-square test is a non-parametric test: True, as it does not assume a normal distribution of the data. It is used for categorical data to determine if there are significant associations between variables.
(c) Chi-square distribution can never be negative: True, as the chi-square distribution is based on squared values, it cannot result in negative numbers.
(e) Chi-square distribution is a function of its degree of freedom: True, the shape of the chi-square distribution is determined by the degrees of freedom associated with the data.
These points reflect the characteristics and applications of the chi-square test and its distribution in statistical analysis. Misconceptions about the developer of the test (not Spearman) and the nature of the distribution (not discrete but continuous on the positive side) are common and should be clarified.

62. The general consideration applicable to tax planning in the field of business deduction revolve around which of the following?

(a) Allowability
(b) Year of allowability
(c) Extent of allowability
(d) Carry forward to future years
Choose the correct answer from the options given below:

Correct Answer: D. (a), (b), (c) & (d)
Solution:he general considerations applicable to tax planning in the field of business deductions revolve around:
(a) Allowability: Determining which expenses are legally deductible according to tax regulations.
(b) Year of allowability: Identifying the correct tax year in which a deduction should be claimed to optimize tax benefits.
(c) Extent of allowability: Calculating how much of an expense can be deducted, as some expenses may be only partially deductible.
(d) Carry forward to future years: Understanding whether unused deductions can be carried forward to future tax years, which is important for strategic tax planning.
These considerations are crucial for ensuring that deductions are maximized legally and effectively, thus reducing the overall tax liability for a business while complying with tax laws.

63. Match the List-I with List-II.

List-IList-II
(a) Unity of CommandI. Maintaining high morale among employees is imperative
(b) Unity of DirectionII. Hierarchical, formalized communication channel
(c) Scalar ChainIII. Functions have only one plan and one boss
(d) Espirit de CorpsIV. Sub-ordinates report to only one boss

Choose the correct answer from the options given below:

Correct Answer: C.
Solution:Matching the organizational principles with their descriptions:
(a) Unity of Command (IV): Subordinates report to only one boss, ensuring clear directives and responsibility.
(b) Unity of Direction (III): Functions have only one plan and one boss, aligning all activities under a single plan and leadership to achieve organizational goals.
(c) Scalar Chain (II): Hierarchical, formalized communication channel, signifying a clear and formal line of authority within the organization.
(d) Espirit de Corps (I): Maintaining high morale among employees is imperative, as it fosters teamwork and unity, enhancing overall productivity and satisfaction.
This correct matching underscores the fundamental principles of organizational structure that facilitate effective management and communication within companies.

64. Arrange the following process of incorporation of a new LLP in proper sequence.

(a) Reserve LLP name
(b) Procure Digital Signature Certificate
(c) Prepare documents for incorporation of LLP
(d) LLP incorporation and DIN Application
(e) Drafting and Filling LLP Agreement
(f) Apply for PAN and TAN
Choose the correct answer from the options given below:

Correct Answer: C. (b), (a), (c), (d), (f), (e)
Solution:The correct sequence for the incorporation of a new Limited Liability Partnership (LLP) is as follows:
(b) Procure Digital Signature Certificate: The first step is to procure Digital Signature Certificates (DSCs) for all the designated partners of the LLP. DSCs are required for digitally signing the incorporation forms and other submissions to the Registrar of Companies (ROC).
(a) Reserve LLP Name: After obtaining DSCs, the next step is to reserve a unique name for the LLP. An application is submitted to the ROC through the LLP portal, ensuring that the name complies with naming guidelines and is not similar to any existing company or LLP.
(c) Prepare Documents for Incorporation  of LLP: Once the name is approved, necessary documents for incorporation are prepared. These include forms like Form 2 (Incorporation application), details of the registered office, and the consent of designated partners.
(d) LLP Incorporation and DIN Application: The incorporation application is filed with the ROC along with a request for the allotment of Director Identification Numbers (DINs) for the designated partners if they do not already have one.
(f) Apply for PAN and TAN: After incorporation, the next step is to apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the LLP, as these are mandatory for financial and taxation purposes.
(e) Drafting and Filing LLP Agreement: The final step involves drafting the LLP Agreement, which outlines the mutual rights, duties, and obligations of the partners. This agreement is required to be filed with the ROC within 30 days of incorporation.
By following this sequence, the LLP can be incorporated efficiently while meeting all legal and procedural requirements in the correct order.

65. Arrange the steps of Capital Budgeting Process in correct sequence.

(a) Preparation of Capital Budget and Appropriation
(b) Performance Review
(c) Assembling of Investment proposals
(d) Identification of Investment opportunities
(e) Decision Making
Choose the correct answer from the options given below:

Correct Answer: A. (d), (c), (e), (a), (b)
Solution:The correct sequence of the capital budgeting process is:
(d) Identification of Investment opportunities: Recognizing and evaluating potential investment opportunities that could benefit the business.
(c) Assembling of Investment proposals: Gathering detailed proposals for identified investment opportunities.
(e) Decision Making: Making decisions based on the analysis of various investment proposals.
(a) Preparation of Capital Budget and Appropriation: Formulating a budget that allocates resources for the approved investments.
(b) Performance Review: Monitoring and evaluating the performance of the investments against the expected outcomes.
This sequence ensures a comprehensive approach to capital budgeting, from opportunity identification to postimplementation review, aiming to maximize returns and align investments with strategic objectives.

66. Match the List-I with List-II.

List-IList-II
(a) Organisational StructureI. Refers to the delegation of authority throughout the organisation
(b) Span of ManagementII. Groups activities on the basis of products.
(c) Divisional StructureIII. Refers to the number of subordinates under a supervisor.
(d) DecentralisationIV. The framework within which managerial and operating tasks are operated.

Choose the correct answer from the options given below:

Correct Answer: D.
Solution:The correct matching of List-I with List-II is as follows:
(a) Organisational Structure (IV): This refers to the framework within which managerial and operating tasks are operated. It defines the hierarchy, roles, and responsibilities within an organization and provides a clear structure for operational efficiency.
(b) Span of Management (III): This relates to the number of subordinates under a supervisor. It helps determine the extent of managerial control and influences the efficiency of communication and decision-making.
(c) Divisional Structure (II): This structure groups activities on the basis of products, services, or markets. It ensures better management of diverse product lines or markets by assigning separate divisions for each.
(d) Decentralisation (I): Refers to the delegation of authority throughout the organization. It involves distributing decision-making authority to lower levels, empowering subordinates to make decisions independently.
This matching emphasizes the organizational principles that govern efficient management and operations.

67. Which of the following sections of the Income-Tax Act-1961, provide for double taxation relief in India?

(a) Section-89                  (b) Section-90
(c) Section-91                   (d) Section-92
Choose the correct answer from the options given below:

Correct Answer: B. (b) & (c) only
Solution:The provisions for double taxation relief in India are contained in the following sections of the Income-Tax Act, 1961:
(b) Section 90: This section deals with agreements with foreign countries or specified territories to grant relief from double taxation. It applies to Indian residents who have earned income in a country with which India has a Double Taxation Avoidance Agreement (DTAA).
(c) Section 91: This section provides unilateral relief from double taxation for residents of India who have earned income in a country that does not have a DTAA with India.
These sections ensure that Indian residents are not taxed twice on the same income earned in foreign countries.

68. In case of performance appraisal, an assessment should focus on:

(a) Technology to intervene between appraiser and appraisee
(b) Individual traits
(c) Behaviours exhibited by the assesses
(d) Knowledge/skills possessed
(e) Results achieved
Choose the correct answer from the options given below:

Correct Answer: D. (b), (c), (d) & (e) only
Solution:In performance appraisal, an assessment should focus on:
(b) Individual traits: Evaluating inherent characteristics like attitude, integrity, and reliability.
(c) Behaviours exhibited by the assessee: Observing and measuring job-related behaviours, which reflect how well the employee performs assigned tasks.
(d) Knowledge/skills possessed: Assessing the employee's expertise and proficiency required for the job.
(e) Results achieved: Evaluating tangible outcomes and goals accomplished by the employee.
These factors ensure a holistic and fair appraisal process, considering both qualitative and quantitative aspects of employee performance

69. Arrange the following stages of investigation in proper sequence.

(a) Plan work to be done and timing.
(b) Obtain instructions from the client and prepare terms of reference.
(c) Make necessary calculation to eliminate inconsistencies.
(d) Collect necessary information and documents.
(e) Formulate conclusions/analysis of findings.
Choose the correct answer from the options given below:

Correct Answer: C. (b), (a), (d), (c), (e)
Solution:The correct sequence of stages in an investigation is:
(b) Obtain instructions from the client and prepare terms of reference: Establishing the scope, objectives, and framework of the investigation with the client.
(a) Plan work to be done and timing: Designing a detailed plan for the investigation, including a timeline and resource allocation.
(d) Collect necessary information and documents: Gathering all relevant data and evidence needed for the analysis.
(c) Make necessary calculations to eliminate inconsistencies: Analyzing the data and resolving discrepancies for accurate findings.
(e) Formulate conclusions/analysis of findings: Drawing conclusions and presenting recommendations based on the analysis.
This logical order ensures an organized and systematic approach to investigations.

70. Which of the following are included under EPRG framework of internationalisation?

(a) Eco centrism
(b) Ethno centrism
(c) Poly centrism
(d) Regio centrism
(e) Geo centrism
Choose the correct answer from the options given below:

Correct Answer: A. (b), (c), (d) & (e) only
Solution:The EPRG (Ethnocentric, Polycentric, Regiocentric, and Geocentric) framework of internationalization includes:
(b) Ethnocentrism: Focuses on homecountry management and practices being applied to international operations.
(c) Polycentrism: Emphasizes tailoring operations to meet the specific needs of host countries.
(d) Regiocentrism: Involves viewing markets and operations from a regional perspective, grouping countries into regions.
(e) Geocentrism: Adopts a global perspective, integrating home and host country practices for worldwide efficiency.
These orientations guide firms in their approach to international business strategy and market entry.