UGC NET Mock Test 22 on Commerce – 20 Questions for Practice

 

Take Test 22 20 questions for Practice – Commerce Test 22

 

1. If the book profits of a partnership firm is Rs. 1, 10,000, the remuneration admissible to working partners under Sec.40 (b) of the Income Tax Act, 1961 is ____?
a.
b.
c.
d.

2. Which among the following is not rightly explained? (i) M1 = Currency with the public + demand deposits of the public. (ii) M2 = M1 + Post Office Savings Deposits. (iii) M3 = M1 + Time Deposits of the public with Banks. (iv) M4 = M3 + Total Post Office Deposits. (v) M1 = Narrow money (vi) M3 = Broad money
a.
b.
c.
d.

3. Assertion (A): The Indian economy could survive in the recent global recession due to its strong banking system. Reason (R): The Indian economy contains a large amount of black money.
a.
b.
c.
d.

4. Government regulation of business is basically intended to ____?
a.
b.
c.
d.

5. Which one of the following methods is not a demand forecasting method of Human Resource Planning?
a.
b.
c.
d.

6. Assertion (A): Most of the development banks in India have set up private commercial banks after the introduction of capital adequacy norms. Reason (R): Development banks in India have not adhered to their basic objectives.
a.
b.
c.
d.

7. Statement (I): Green Box subsidies include amount spent on Government services such as research, disease control, infrastructure and food security. Statement (II): Blue Box subsidies are certain direct payments made to farmers, to limit production, and are certain government assistance programmes to encourage agriculture and rural development.
a.
b.
c.
d.

8. Transaction of Internet Banking excludes?
a.
b.
c.
d.

9. Assertion (A): The ‘Balance of Payments’ presents a classified record of all receipts on account of goods exported, services rendered and capital received by ‘residents’ and payments made by them on account of goods imported and services received from capital transferred to ‘non-residents’ or ‘foreigners”. Reason (R): The ‘Balance of Payments’ of a country is a systematic record of all economic transactions between the ‘residents’ of a country and the rest of the world.
a.
b.
c.
d.

10. If the taxable income of a domestic company for the Assessment Year 2011-12 is Rs. 9, 00,000, its tax liability will be_______?
a.
b.
c.
d.

11. Assertion (A): The major economic powers have succeeded in creating a new international regime where the profits and the dominance of their transnational corporations will be the decisive consideration. Reason (R): This regime will legitimise the process of progressive erosion of the sovereign economic space of the third-world countries.
a.
b.
c.
d.

12. The forces that lend momentum to the process of globalization have been identified by Michael Porter include the following: (i) Fluid global capital market. (ii) Technological restructuring. (iii) Decreasing religious command. (iv) Ethnic decontrol. (v) New-global competitors. (vi) End of the ‘cold war’ in 1990s.
a.
b.
c.
d.

13. Assertion (A): “The problem of rural credit is not primarily one of rural credits, it may be said to be one of rural minded credits.” Reason (R): The Indian economy has yet to come out of rural mentality.
a.
b.
c.
d.

14. Unabsorbed depreciation which could not be setoff in the same assessment year, can be carried forward up to ____?
a.
b.
c.
d.

15. Donation to National Children’s Fund will come in which of the following deduction under Sec. 80G of the Income Tax Act, 1961.
a.
b.
c.
d.

16. What is not the advantage of SEZ?
a.
b.
c.
d.

17. Which of the following are not effects of dumping on importing country? (i) Domestic industry might be affected adversely by a decline in sales and profits. (ii) If dumping is continued for a longer period, survival of the domestic industry may be threatened. (iii) Dumping may create BOP problems for the country. (iv) It finds market for its surplus production.
a.
b.
c.
d.

18. Which of the following expenses is inadmissible while computing income from other sources?
a.
b.
c.
d.

19. When a loan will be NPA?
a.
b.
c.
d.

20. Which among the following is not a category of Non-Performing Assets?
a.
b.
c.
d.


 


 
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