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Latest AP SET Commerce Exam Question (Objective Questions), MCQ in English

Subjects : Commerce

Question Bank AP SET Commerce Exam Paper 2 - English
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Commerce

Question 1Single Answer
For the following statements of Assertions (A) and Reasoning (R) indicate the correct code from the alternatives given:Assertion (A): Liberalization means corporatization of departmental undertakings and public undertakings.Reasoning (R): Freedom to public sector undertakings to access capital market.
 Codes: 
  1. ABoth (A) and (R) are true and (R) is correct explanation of (A).
  2. BBoth (A) and (R) are true and (R) is not correct explanation of (A).
  3. C(A) is true but (R) is false.
  4. D(A) is false but (R) is true.
Question 2Single Answer
Match the items of List-I with List-II and indicate the correct code:
         List-I                                             List-II
(a)Fiscal Policy                         (i) Mitigation of National hazards
(b)Technology Policy                 (ii) Balance of Payments
(c)Macro-Economic Policy        (iii) Fiscal Federalism
(d)Monetary Policy                     (iv) Inflation
Codes:
  1. A(a)  (b)    (c)  (d)
    (i)   (ii)   (iii)  (iv)
  2. B(iii)   (i)  (ii)  (iv)
  3. C(iv)  (iii) (i) (ii)
  4. D(ii) (i)  (iv )(iii)
Question 3Single Answer
Which of the following factor is not directly responsible for slowing down the growth of infrastructure?
  1. AHigh level of perceived political risk.
  2. BHigh level of sunk cost.
  3. CHigh probability of time and cost over-run. 
  4. DIntroduction of competition in all sectors.
Question 4Single Answer
Out of the following which is not a major component of Gross Domestic Product (GDP)?
  1. APersonal Consumption Expenditure
  2. BGross Private Domestic Investment
  3. CNet Personal Income
  4. DNet Exports
Question 5Single Answer
Which of the following is not a forum of Consumer Dispute Redressal System?
  1. ALocal forum
  2. BDistirct forum
  3. CState forum (State Commission)
  4. DNational Commission
Question 6Single Answer
By Which  Act, the government checks restrictive trade practices ?
  1. AFEMA – 1999 
  2. BConsumer Protection  Act, 1986
  3. CIndustrial  Policy  Act, 1991
  4. Dnone of the above
Question 7Single Answer
In which year the new Industrial policy was announced ?
  1. A1997 
  2. B1951
  3. C1991 
  4. D1998   
Question 8Single Answer
The Narasimham Committee made separate recommendations for the reforms Of ……..
  1. AManufacturing sector      
  2. BBanking sector
  3. CAgriculture sector 
  4. DInsurance Sector 
Question 9Single Answer
Match  the  following :
Books                           Authors
 (a)India  and  Economic          (i)  Bhagwatij
        Reforms
 (b)  Development  Planning      (ii)  Chakravarty. S.
      The  Indian  Experience
 (c)  India : Economic                (iii)  Drenz, and  Amartyasen
Development  and 
      Social  Opportunity
 (d)  Fiscal  policy  of  Underd-    (iv)   Chelliah, RJ.
Eveloped   Countries
Codes :
  1. A(a)        (b)           (c)            (d)
    (i)         (ii)            (iii)           (iv)
  2. B(ii)        (iii)           (iv)            (i)
  3. C(iii)       (iv)           (ii)             (i
  4. D(i)        (iv)           (iii)            (ii)              
Question 10Single Answer
which    of  the  following   accounting   equations   is  not   correct ?
  1. AAssets   Liabilities  =  Equity
  2. BAssets    Equity   =  Liabilities
  3. CAssets  +  Liabilities  =  Equity
  4. DLiabilities  +  Equity   =  Assets 
Question 11Single Answer
GDP at factor cost is : 
  1. Ap (Q) + p (S)
  2. BGDP – IT – S
  3. CGDP + DT  + S
  4. DGDP – DT + S                                           
Question 12Single Answer
which one is not the main objective of fiscal policy India ?
  1. ATo increase liquidity in the economy.
  2. BTo promote price stability.
  3. CTo minimize the inequalities of income and wealth.
  4. DTo promote employment opportunities  
Question 13Single Answer
which one is not an element of internal environment ?
  1. AMarketing Capability
  2. BOperational Capability
  3. CMoney and Capital market
  4. DPersonnel  Capability 
Question 14Single Answer
Out  of  the  following,  Which  four  benefits  are  available  to  host   countries  from 
     MNCs ?
(i)  Transfer   of  technology
(ii)  Learning  of   business  mannerism
(iii)  Strategic  information  sharing
(iv)  Creation  of  jobs
(v)  Entertainment
(vi) Better  utilization  of  resources
(vii)  Enhancing  Social  Contacts
(viii)  Improved  competition  in  local  economy
  1. A(i)  (iii)  (v)  (vii)
  2. B(ii)  (iv)  (vi)  (viii)
  3. C(i)  (vi)  (vi)  (viii)   
  4. D(iii)  (vi)  (vii)  (viii)                                    
Question 15Single Answer
Environmental  degradation  does  not  consist  of :
  1. ALand  degradation  and  soil  erosion
  2. BProblem  of  overgrazing  and  ecological  degradation
  3. CFloods
  4. DNone  of   the  above
Question 16Single Answer
Who is the fiscal agent and advisor to government  in monetary and finan-Cial matters?
  1. ANABARD
  2. BSBI
  3. CRBI
  4. DNone
Question 17Single Answer
Match the items of list –I with the items of list –II :
List –I                                                  List – II 
(a) National Manufacturing             (i)  Industrial Licensing policy
Competitiveness Council
(b)  National Investment                (ii) Eleventh Five Year plan
     Fund (NIP)
(c)  The  Industries (Devel-          (iii) The Competition Act, 2002
     Opment and Regulation)
    Act(IDRA), 1951
(d)  Increase in Employment          (iv) Public Sector Undertakings
Codes :
  1. A(a)        (b)          (c)        (d)
    (iv)         (i)         (ii)         (iii)
  2. B(iii)        (iv)         (i)          (ii)
  3. C(i)         (ii)            (iii)       (iv)
  4. D(iv)        (iii)           (ii)        (i)                                                                 
Question 18Single Answer
Kyoto protocol pertains to : 
  1. ACapital formulation  
  2. BGlobalization
  3. CEnvironment protection
  4. DUnemployment reduction  
Question 19Single Answer
Uruguay  Round   pertains   to 
  1. AWTO 
  2. BIMF
  3. CGATT 
  4. DWorld  Bank 
Question 20Single Answer
which   of   the  following   are  outside   the  scope   of   the  Consumer   Protect-Ion  Act, 1986 ?
  1. ANewspaper   industry
  2. BServices  provided   under   contract   of   personal   service
  3. CBanking  industry
  4. DBoth (A)  and  (B)   
Question 21Single Answer
Match  the   items  of   List –I   with  List –II :
List –I                     List – II 
(a) Industries  Development  Regulation      (i)  1947
          Act
(b)  Import  and  Export  Control  Act             (ii)  1948
(c)  foreign  Exchange  Management  Act     (iii)  1951
(d)  Factories  Act                                           (iv)  1999
Identify  the  correct   combination :
Codes :
  1. A(a)       (b)       (c)        (d)
    (i)       (iii)        (iv)       (ii)
  2. B(iii)       (i)          (ii)        (iv)
  3. C(iii)        (i)          (iv)       (ii)
  4. D(iii)       (iv)        (ii)         (i)         
Question 22Single Answer
Which  among   the  following  is   not  a  correct  sequential  combination ?
  1. AMacro  Environment ➝ Economic  Environment ➝  National  Income ➝  pattern  of Income  Distribution
  2. BBusiness  Environment ➝  Internal  Environment ➝  Business  Ethics  ➝  payment Of   Fair  Wages
  3. CBusiness  Environment ➝  External  Environment ➝ Micro  Environment ➝ Suppli-Ers
  4. DMicro  Environment ➝External  Environment ➝ Customers  ➝ Prospects  of Business  Development
Question 23Single Answer
Statement – I :The  industrial  policy  of  the  government  of  India  is  aimed  at  Increasing  the  tempo  of  industrial  development.
Statement – II :After  the  New  Industrial  policy – 1991,  the  balance  of   Trade For  India  has  always  been  positive.
Codes :
  1. AStatement  (I) is  correct,  but  (II)  is  incorrect
  2. BStatement  (II) is  correct,  but  (I)  is  incorrect
  3. CBoth  Statement  (I)  and  (II)  are  correct
  4. D Both  Statement  (I)  and  (II)  are in correct
Question 24Single Answer
Current  Ratio 2.5,  Liquid  Ratio  1.5  and  Working  Capital  : 60000.  What  is  Current  assets ? 
  1. ARS 60000  
  2. BRS  80,000  
  3. CRS 1,00,000 
  4. DRS 1,20,000 
Question 25Single Answer
X,Y,Z  are  sharing   profits  in  the   ratio  of  6 : 5 : 3  A  is  admitted    into  partner-Ship  for  1/8th   share.  The  sacrificing   ratio  of  X , Y, and  Z  is :
  1. AEqual  
  2. B6 : 5 : 3
  3. C5/14, 4/14, 5/14 
  4. D4 : 5: 5
Question 26Single Answer
Environmental  degeneration  does  not  consist   of  :
  1. ALand  degeneration  and  soil  erosion 
  2. BProblem  of  over  grazing  and  ecological  degeneration
  3. CFloods
  4. DNone  of   the  above  
Question 27Single Answer
Which  of  the  following   is   not   the   main  objective  of  “  Fiscal  Policy  of  India” 
  1. ATo  increase  liquidity  in  economy
  2. BTo  promote  price  stability
  3. CTo  minimize  the  in – equality  in  income  and  wealth
  4. D To  promote  employment  opportunities     
Question 28Single Answer
Liberalization  means :  
  1. AReducing  number  of  reserved  industries  from  17  to  8
  2. BLiberating  the  industry,  trade  and  economy  from  unwanted  restriction
  3. COpening  up  economy   to  the  world  by   attaining  international  competitivenes 
  4. DFree  determination  of   interest rate     
Question 29Single Answer
Assertion  (A)  :  Industrialization  of  an  economy  is  considered   synonymous With  growth
Reasoning (R)  :The  transfer  of   resources   from  agrarian  to  industrial  may  be Capital  or  lab our  or  both.
Codes  : 
  1. ABoth  (A )  and  ( R ) are  true  and  ( R )  is  correct  explanation  of  ( A).
  2. BBoth  (A )  and  ( R ) are  true  but  ( R ) is  not  the  correct  explanation  of  ( A).
  3. C(A) is  true  but  (R) is  false.
  4. D(A) is  false  but  (R) is  true .         
Question 30Single Answer
Globalization is the term used to describe process of removal of  restriction On Which one of the following  ?
  1. AForeign trade 
  2. BInvestment
  3. CBoth  (a)  and  (b)   
  4. DNone of  the above 
Question 31Single Answer
Which of the following denote the structural changes in Indian economy ? 
  1. APrimary sector contribution has gone down.
  2. BService sector contribution has gone up
  3. CSecondary sector has not changed much
  4. DAll of the   
Question 32Single Answer
Broad Money has to be sensitized through : 
  1. ACRR
  2. BSLR
  3. CRepo  Rate 
  4. DAll  of   these                                                                   
Question 33Single Answer
Which  one  is  not  an  element  of  legal  environment ?
  1. AAct   of   Parliamentarians  in  Lok  Sabah
  2. BIndian  Contract  Act, 1872 
  3. CIndian  Partnership  Act, 1932
  4. D\Negotiable  instruments  Act,  1881                                                              
Question 34Single Answer
Out of the following Which are foure dimensions of Human Development Index ?
(i)  Life  Expectancy                            (ii)  Literacy Level
(iii)  Success Rate of Marriages         (iv)  Standard of Living
(v)  Crime Rate                                  (vi)  Corruption Level
(vii)  Economic Entitlement               (viii)  Foreign Visits
Codes :
  1. A(i),(ii), (vi) and (viii) 
  2. B(i),(ii), (iv) and  (vii)  
  3. C(ii), (iii), (vi)and (vii)   
  4. D(iii),  (v),  (vii) and  (viii)
Question 35Single Answer
Public  Enterprise  is  defined   as : 
  1. AAn  organization   run  by   joint   efforts   of  Centre  and  State  Goverments.
  2. BAn  organization   which  caters   to  the  needs  relating  to  public  utilites.
  3. CAn  organization   in  which  capital  is   invested  by  public.
  4. DAn  organization  owned  and   managed   by  public  authorities  for   definite  set  Of   public   purposes. 
Question 36Single Answer
Direct supervision over depositories and mutual funds is undertaken by 
  1. ANBFCs  
  2. BRBI
  3. CSEBI  
  4. DAll   of  the  above                                      
Question 37Single Answer
In  the  call/  notice   money  market, which  of   the  following   -ed  to  trade  ?
  1. AAll  Banks,  Primary  Dealers   and  Mutual   Funds
  2. BAll  Corporates                         
  3. COnly  Commercial   Banks      
  4. DAll   of  the  above                                                                         
Question 38Single Answer
Match  the  items  of  list –I   and  list –II   and  select  the  correct  answer
List –I                                                List – II 
(i)  Private  ownership  and                  (a)   Secondary   market
         Free  Enterprise
(ii)  Government  ownership  and           (b)  Capitalism        
   Central  Authority
(iii)  The  market  for  the  sale  and       (c)  Primary  Market
     Purchase  of   previously   issued
(iv)  The  market  for   new  long  term     (d)  Socialism
        capital
Codes :       
  1. A(i)        (ii)      (iii)     (iv)
    (b)       (d)     (a)      (c)
  2. B(a)       (b)     (c)      (d)
  3. C(b)      (d)     (c)      (a)
  4. D(a)      (c)     (b)      (d)                                                                  
Question 39Single Answer
The  apex  consumer  court   in  India  is   referred   to  as
  1. AThe  Consumer   Education   and   research   Centre
  2. BThe  Consumer   Unity   and   Trust  society.
  3. CThe  Consumer   Unity   and   Trust  society.
  4. DNone  of  the  above    
Question 40Single Answer
Who is Chairman of  13th  Finance commission  ?
  1. ADr. C. Rangarajan 
  2. BMr. Vimal Jalan
  3. CDr. Vijay C. Kelkar 
  4. DNone of the above                                     
Question 41Single Answer
There  is   acute  shortage  of   electricity  in   some   of  the   states  in  India  this Reflects  a problem   in  which   type  of   business  environment ?
  1. A Economic  
  2. BDemographic
  3. CPolitico – legal
  4. DSocio -  cultural      
Question 42Single Answer
Match  the   items  given in list –I  and  list –II  :
List –I                                           List – II 
(a)  Economic   liberali-          (i)  It – enabled   services
  Sation
(b)  Out  sourcing                    (ii)  SFIO
(c)  Corporate  frauds             (iii)  Macro  Economic  stability
(d)  Second  generation         (iv)  Increased  Competition
       reforms
Indicate   the  correct   combination :
Codes :
  1. A(a)       (b)       (c)      (d)
    (i)       (ii)        (iii)      (iv)
  2. B(i)       (iii)      (ii)       (iv)
  3. C(ii)       (iii)      (iv)      (i)     
  4. D(iv)       (i)      (ii)       (iii)                                                                 
Question 43Single Answer
Which  of  the  following  is  true ? 
  1. AA  consumer  court  setup  under  the  Consumer   protection  Act,  does  not  have The  power  to   punish  for  its  contempt. 
  2. BProfessional   services   are  outside   the  purview  of  the   CPA.
  3. CA  consumer  court  cannot   force  a  person  indulging  in  misleading  advertising In  misleading   advertising   to   confess   his  quit.
  4. DNone  of  the  above
Question 44Single Answer
Match  the   items/  terms  given  in  list – I  with  those  given  in  and  list – II  :
List – I                     List – II 
(a)  BIS          (i)  Print  Media
(b)  CERC     (ii)  Minimum support price for agricultural products.
(c)  CACP     (iii)  Quality of manufactured products.
(d)  PCI        (iv)  Comparative product testing
 Indicate the correct answer :
Codes :
  1. A(a)       (b)         (c)        (d)
    (iv)      (iii)         (ii)         (i)
  2. B(i)       (ii)         (iii)           (iv)
  3. C(iii)      (iv)         (ii)         (i)
  4. D(ii)      (iii)         (iv)         (i)                                                                 
Question 45Single Answer
Which   one  among  the  following   is  not   the  salient  feature  of   Since  1991 ?
  1. AEnormous  expansion  of   the  private  sector.
  2. BRedefining  the  role  of  public  sector.
  3. CLimited   exposure  of  Indian  industry  to  foreign  competition
  4. DPruning  of  the  list  of   items   reserved  for   SSI  units.
Question 46Single Answer
The  world’s  first  electronic  stock  market  is :
  1. AKOSPI   
  2. BNikkei
  3. CNASDAQ
  4. DDow  Jones   
Question 47Single Answer
The  Human  Development  Index ( HDI )  is  introduced  by : 
  1. AUNDP  
  2. BUNICEF
  3. CIMF  
  4. DWorld  Bank 
Question 48Single Answer
Examine  the  following   statements   and  choose  the  correct  code

Assertion  (A)  :  American  style  option,  compared  to  European  style,  provides  More  freedom   to  option  holders  in  exercising   the  option.
Reason (R) : American  style  option,  can  be  exercised  only  at  a  specified  date. Which  is  generally  the  expiration  date.
Codes :
  1. ABoth  (a)  and  (R)  are  correct 
  2. BBoth  (a)  and  (R)  are  wrong
  3. C(a)  is  correct,  but ( R)  is  wrong
  4. D(a)  is not  correct,  but ( R)  is 
Question 49Single Answer
From  the  statements  given  below, identify  the  correct  code :
Statement ( I) :  The  key  strategy  behind  acquiring  a  company  is  to  create  share   Holder’s  value.
Statement ( II) :  Conglomeration  is  a  merger  between  two  companies   that  have Common  business  areas.
Statement ( III) :  MRTP  act  got   replaced   by  the   competition  Act, 2002  in  India.
Codes : 
  1. AAll  the  three  statements   are  correct
  2. BStatements ( I)  and  (II) only  are  correct
  3. CStatements ( I)  and  (III) only  are  correct
  4. DStatements ( II) only  is  correct                                                            
Question 50Single Answer
From the following identity the tools of fiscal policy :
(i) Public expenditure
(ii) Open market operations
(iii) Deficit financing
(iv) Taxation
(v) Reserve requirements
Codes :
  1. A(i), (iii), (iv)  and (v) 
  2. B(i), (ii), (iv)  and (v)
  3. C(ii)  and (v) 
  4. D(i), (iii), and (iv)  
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