UGC NET Mock 9 on Commerce – 20 Questions for Practice

1. Which one of the following will not affect the working capital?

2. Reconstruction of a company takes place when (i) The company is undercapitalized (ii) Company has incurred heavy losses which must be written off (iii) The company is overcapitalized Which one of the following is correct?

3. In India, which of the following is prepared on the guidelines of AS-3 (Accounting Standard – 3)?

4. X and Y are partners in a firm sharing profits in the ratio of 2: 1. Z is admitted with a 1/3 profit sharing. What will be the new profit sharing ratio of X, Y and Z?

5. Which concept of marketing is based on the assumption that superior products sell themselves?

6. Present value of future earnings is a model of Human Resources Accounting suggested by _____?

7. Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A): When a company earns profit prior to its incorporation, it is called capital profit. Reason (R): Capital profit cannot be used for distribution as dividend to the shareholders. In the context of the above statements, which one of the following is correct?

8. Market subdivided on the basis of behavioural characteristics is called ______?

9. Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A): Sinking fund is a charge against Profit and Loss Account. Reason (R): Sinking fund is created for repayment of a long term liability. In the context of the above statements, which one of the following is correct?

10. What is mass marketing?

11. Who has given ‘fourteen Principles of Management’?

12. The main effect of inflation on the financial statement is _____?

13. What is M.B.O?

14. Statement (A): Sales promotion has a strong impact on consumer behaviour in rural India. Reason (R): Rural people in India give utmost significance to sales promotion schemes.

15. What does a high payout ratio indicate?

16. Identify the true statement of the following: (i) Balance Sheet is always prepared from the point of view of the business but not from that of the owners. (ii) The financial relationship of the business to its owners is shown in the Balance Sheet. (iii) Balance Sheet is always related to a period of time.

17. In broader sense, marketing communication includes ________?

18. Which one of the following statements is true?

19. Which element of the promotion mix do wholesalers generally apply to obtain their promotional objectives?

20. What is the correct sequence of the following actions required for the preparation of financial accounts? (i) Trading accounts (ii) Making adjusting entries (iii) Balance Sheet (iv) Profit and Loss Account Select the correct answer from the codes given below: