UGC NET Mock Test 25 on Commerce - 20 Questions for Practice

UGC NET Mock Test 25 on Commerce – 20 Questions for Practice

Take Test 25 20 questions for Practice – Commerce Test 25

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1. Which of the following statements are true?

a.None of the above is true.

b.Both (A) and (B) are true.

c.The Competition Commission of India is headed by a person having Judicial background.

d.The definition of the term ‘goods’ as given in the Competition Act, 2002, is the same as given in the Sale of Goods Act, 1930.

2. When the demand curve is relatively highly elastic, the marginal revenue is _____?

a.Negative

b.Unity

c.Positive

d.Zero

3. A company sells its product at Rs. 15 per unit. In a period if it produces and sells 8,000 units, it incurs a loss of Rs. 5 per unit. If the volume is raised to 20,000 units it earns a profit of Rs. 4. Variable cost per unit will be?

a.Rs. 4.5 per unit

b.Rs. 5 per unit

c.Rs. 6 per unit

d.Rs. 9 per unit

4. A consumer can file a complaint under the Consumer Protection Act, 1986, on any of the following grounds except:

a.Unfair trade practice

b.Provision of deficient service

c.Charging very high price

d.Sale of defective goods

5. In which one of the following market situations the practice of price rigidity is found?

a.Perfectly competitive market

b.Monopolistic competitive market

c.Oligopoly market

d.Discriminating monopoly market

6. Which of the following statements is true?

a.Agricultural Sector has the highest share in the GDP in India.

b.None of the above.

c.The biggest source of Central Government’s revenue is Central Excise.

d.The highest growth rate in India is in the Manufacturing Sector.

7. A time series is a set of data collected at ______?

a.Convenient intervals

b.All of the above

c.Regular intervals

d.Random intervals

8. An investment centre is a responsibility centre where the manager has control over?

a.Costs

b.Costs, profits and assets

c.Costs, profits and product quality

d.Costs and profits

9. According to H.A. Simon, if a firm fails to achieve its target initially, it results in _____?

a.Search behaviour

b.Sacking of its managerial team

c.Sense of helplessness

d.Appropriate revision of aspiration level.

10. During short-run, the optimum level of output corresponds to that level of output where?

a.AFC stops declining

b.AC is the minimum

c.MC is the minimum

d.AVC is the minimum

11. The collapse of which of the following systems is related to the Triffin Paradox?

a.Gold Standard

b.Bretton Woods

c.None of the above

d.Exchange rate mechanism (in 1992)

12. Which of the formula is used to calculate Absolute Liquid Ratio is?

a.Absolute Liquid Assets - Current Liabilities

b.Absolute Liquid Assets - Quick Liabilities

c.Current Assets, Loans & Advances-Inventories - Current Liabilities & Provisions-Bank Overdraft

d.Current Assets, Loans & Advances - Current Liabilities & Provisions

13. Financial statements provide a true and fair view if _____?

a.It is prepared using the appropriate accounting policy and applicable accounting standards.

b.It is free from any material error and bias.

c.It is prescribed in a format prescribed by the regulator or, in the absence of a prescribed format, it is prepared in a manner that facilitates analyses of the financial position and the performance of the reporting enterprise.

d.It conforms to all of the above (A), (B) and (C).

14. The first macro-environmental force that a business firm generally monitors is ______?

a.Technological environment

b.International, Political environment

c.Economic environment

d.Demographic environment

15. Which of the following is/are the assumptions of the Law of One Price? (i) Restriction on the movement of goods between countries. (ii) No transportation costs. (iii) No tariffs

a.Only (i)

b.(i), (ii) and (iii)

c.Both (i) and (ii)

d.Both (ii) and (iii)

16. Which one of the following is not included in the Consumer Rights as per the Consumer Protection Act, 1986?

a.Right to seek redressal of legitimate complaints.

b.Right to be heard.

c.Right to be protected against marketing of hazardous goods and services.

d.Right to a physical environment that will protect and enhance the quality of life.

17. Given the following data calculate the regression coefficient of X on Y. Pearson’s correlation coefficient = + 0.8. Regression coefficient of Y on X = 0.8 Choose the correct answer from the following:

a.0.82

b.0.8

c.0.64

d.0.32

18. Which of the following is a sub variance of labour efficiency variance?

a.All of the above

b.Labour-mix variance

c.Idle time variance

d.Labour-yield variance

19. The opportunity cost is a term which describe?

a.A bargain price for a factor of production.

b.The loss of the reward in the next best use of that resource.

c.Average variable cost.

d.Production cost related at the optimum level of production.

20. A situation where any advantage given by one member of the WTO to another member is extended to all WTO members is referred to as _____?

a.Least Traded Nation

b.Most Favoured Nation

c.Inter Regional Principle

d.Trade Diversion

Also See :

UGC NET Mock Test 1 on Commerce
UGC NET Mock Test 2 on Commerce
UGC NET Mock Test 3 on Commerce
UGC NET Mock Test 4 on Commerce
UGC NET Mock Test 5 on Commerce
UGC NET Mock Test 6 on Commerce
UGC NET Mock Test 7 on Commerce
UGC NET Mock Test 8 on Commerce
UGC NET Mock Test 9 on Commerce
UGC NET Mock Test 10 on Commerce
UGC NET Mock Test 11 on Commerce
UGC NET Mock Test 12 on Commerce
UGC NET Mock Test 13 on Commerce
UGC NET Mock Test 14 on Commerce
UGC NET Mock Test 15 on Commerce
UGC NET Mock Test 16 on Commerce
UGC NET Mock Test 17 on Commerce
UGC NET Mock Test 18 on Commerce
UGC NET Mock Test 19 on Commerce
UGC NET Mock Test 20 on Commerce
UGC NET Mock Test 21 on Commerce
UGC NET Mock Test 22 on Commerce
UGC NET Mock Test 23 on Commerce
UGC NET Mock Test 24 on Commerce
UGC NET Mock Test 26 on Commerce
UGC NET Mock Test 27 on Commerce

UGC NET Mock 25 on Commerce – 20 Questions for Practice

UGC NET Mock Test 25 on Commerce – 20 Questions for Practice

Take Test 25 20 questions for Practice – Commerce Test 25

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