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|Commerce · January 2025

UGC NET Commerce January 2025 Question PaperPaper 1 & Paper 2 with Answer Key

The complete UGC NET January 2025 question paper for Commerce, covering Paper 1 (General Aptitude) and Paper 2 (Commerce). Every question below is shown with its options and the correct answer, and a detailed explanation you can unlock by signing in. All 150 questions are free to practise.

UGC NET January 2025 at a glance

Exam	UGC NET January 2025
Papers	Paper 1 (General Aptitude) and Paper 2 (Commerce)
Exam date(s)	January 7, 2025
Shift(s)	Shift 1
Paper 1 questions	50 questions · 60 minutes · 100 marks
Paper 2 questions	100 questions · 120 minutes · 200 marks
Total	150 questions
Marking scheme	+2 per correct answer · No negative marking

Paper 1

General Aptitude

UGC NET January 2025 · Commerce sitting

50 questions60 min100 marks

Practice Now

Paper 2

Commerce

UGC NET January 2025

100 questions120 min200 marks

Practice Now

Paper 1 — General Aptitude

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50 questions with the answer key and explanations.

Question 1
In the year 2023, if the income of company B was ₹70 Crores, then what was the expenditure of the company B in the year?
The following table shows the percent (%) profit earned by two companies A and B over the six years from 2018 to 2023:

Year Company A (% Profit) Company B (% Profit)
2018 40% 25%
2019 25% 30%
2020 30% 50%
2021 60% 45%
2022 45% 30%
2023 50% 40%
1. A₹ 20 Crore
2. B₹ 30 Crore
3. C₹ 40 Crore
4. D₹ 50 Crore
Answer: (D) ₹ 50 Crore
Explanation
Expenditure is calculated using the profit percentage formula where Income = Expenditure × (1 + Profit% / 100).

In 2023, company B earned a 40% profit.

Expenditure = Income / (1 + 0.40)
Expenditure = 70 / 1.40 = 50 Crores

A. ₹ 20 Crore — incorrect. Corresponds to subtracting profit directly from income without the percentage base.

B. ₹ 30 Crore — incorrect. This would represent the difference rather than expenditure.

C. ₹ 40 Crore — incorrect. Miscalculates the denominator base.

D. ₹ 50 Crore — correct. ₹70 Crores divided by 1.40 yields ₹50 Crores.
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Question 2
In the year 2022, if the income of company B was 52 crore and the expenditures of both the companies A and B were same, then what was the average of income of both the companies A and B?
The following table shows the percent (%) profit earned by two companies A and B over the six years from 2018 to 2023:

Year Company A (% Profit) Company B (% Profit)
2018 40% 25%
2019 25% 30%
2020 30% 50%
2021 60% 45%
2022 45% 30%
2023 50% 40%
1. A₹ 20 Crore
2. B₹ 33 Crore
3. C₹ 55 Crore
4. D₹ 44 Crore
Answer: (C) ₹ 55 Crore
Explanation
Average income requires calculating the common expenditure from company B, then deriving company A's income.

In 2022, company B's profit was 30% and its income was ₹52 Crore.

Expenditure of B = 52 / (1 + 0.30) = 52 / 1.30 = 40 Crore
Since expenditures are equal, company A's expenditure was also 40 Crore.
Company A's profit in 2022 was 45%.
Income of A = 40 × 1.45 = 58 Crore

Average income = (52 + 58) / 2 = 110 / 2 = 55 Crore

A. ₹ 20 Crore — incorrect. Far below both individual company incomes.

B. ₹ 33 Crore — incorrect. Confuses average profit with income.

C. ₹ 55 Crore — correct. The mean of company B's 52 Crore and company A's 58 Crore is 55 Crore.

D. ₹ 44 Crore — incorrect. Arithmetic mistake in computing company A's income.
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Question 3
If the ratio of expenditures of company A in 2019 and 2023 is 4:3 , then the income of company A in 2019 is ______ % more than the income of company A in 2023.
The following table shows the percent (%) profit earned by two companies A and B over the six years from 2018 to 2023:

Year Company A (% Profit) Company B (% Profit)
2018 40% 25%
2019 25% 30%
2020 30% 50%
2021 60% 45%
2022 45% 30%
2023 50% 40%
1. A70/9%
2. B80/9%
3. C40/9%
4. D100/9%
Answer: (D) 100/9%
Explanation
Express the expenditures in terms of a common variable x to determine relative incomes.

Let expenditure of company A in 2019 be 4x and in 2023 be 3x.
Profit of company A in 2019 was 25%, so Income (2019) = 4x × 1.25 = 5x.
Profit of company A in 2023 was 50%, so Income (2023) = 3x × 1.50 = 4.5x.

Difference in income = 5x - 4.5x = 0.5x
Percentage more = (0.5x / 4.5x) × 100% = (1 / 9) × 100% = 100/9%

A. 70/9% — incorrect. Arises from an incorrect ratio difference.

B. 80/9% — incorrect. Miscalculates the income base.

C. 40/9% — incorrect. Uses profit difference rather than income comparison.

D. 100/9% — correct. Relative increase over the 2023 base of 4.5x equals 100/9%.
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Question 4
If in the year 2021, the expenditure of company A was equal to the expenditure of company B, then what was the ratio of their respective income?
The following table shows the percent (%) profit earned by two companies A and B over the six years from 2018 to 2023:

Year Company A (% Profit) Company B (% Profit)
2018 40% 25%
2019 25% 30%
2020 30% 50%
2021 60% 45%
2022 45% 30%
2023 50% 40%
1. A3:2
2. B32:29
3. C2:5
4. D7:5
Answer: (B) 32:29
Explanation
When expenditures are identical, the ratio of incomes equals the ratio of their multiplication factors (1 + Profit%).

In 2021, company A's profit was 60% and company B's profit was 45%.
Let common expenditure be E.
Income of A = E × 1.60
Income of B = E × 1.45

Ratio of incomes = 1.60 / 1.45 = 160 / 145 = 32 / 29 = 32:29

A. 3:2 — incorrect. Approximates 60% to 40% instead of 160 to 145.

B. 32:29 — correct. Simplifying 160/145 by dividing numerator and denominator by 5 gives 32:29.

C. 2:5 — incorrect. Inverted and unrelated ratio.

D. 7:5 — incorrect. Does not match the derived fraction.
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Question 5
For company B, if the income in the year 2018 was equal to the expenditure in the year 2020, then what was the ratio of income of B in 2018 to that in 2020
The following table shows the percent (%) profit earned by two companies A and B over the six years from 2018 to 2023:

Year Company A (% Profit) Company B (% Profit)
2018 40% 25%
2019 25% 30%
2020 30% 50%
2021 60% 45%
2022 45% 30%
2023 50% 40%
1. A2:3
2. B3:2
3. C2:5
4. D5:2
Answer: (A) 2:3
Explanation
Relate the income of 2018 directly to the expenditure and income of 2020.

Given condition: Income of B in 2018 = Expenditure of B in 2020.
Let this quantity be denoted as X.
In 2020, company B earned a 50% profit.
Income of B in 2020 = Expenditure of B in 2020 × (1 + 0.50) = 1.5 × X

Ratio of Income (2018) to Income (2020) = X / (1.5 × X) = 1 / 1.5 = 2 / 3 = 2:3

A. 2:3 — correct. The 2018 income X divided by the 2020 income 1.5X simplifies to 2:3.

B. 3:2 — incorrect. Inverts the chronological ratio.

C. 2:5 — incorrect. Uses profit rates instead of total incomes.

D. 5:2 — incorrect. Inverts and miscalculates the factors.
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Question 6
If L_M represents a number L in base-M number system, then identify the correct ascending order of the following numbers A-D when converted to decimal number system:

A. (1111.11)_2
B. (102.3)_6
C. (42.5)_8
D. (32.6)_16

Choose the most appropriate answer from the option given below:
1. AB, A, C, D
2. BA, C, B, D
3. CC, A, D, B
4. DD, C, B, A
Answer: (B) A, C, B, D
Explanation
Convert each positional number to base 10 by evaluating powers of its respective base.

A. (1111.11)_2 = 8 + 4 + 2 + 1 + 0.5 + 0.25 = 15.75
B. (102.3)_6 = (1 × 36) + (0 × 6) + (2 × 1) + (3 / 6) = 38 + 0.5 = 38.5
C. (42.5)_8 = (4 × 8) + (2 × 1) + (5 / 8) = 34 + 0.625 = 34.625
D. (32.6)_16 = (3 × 16) + (2 × 1) + (6 / 16) = 48 + 2 + 0.375 = 50.375

Comparing the decimal values in ascending order:
15.75 (A) < 34.625 (C) < 38.5 (B) < 50.375 (D)

A. B, A, C, D — incorrect. Places 38.5 before 15.75.

B. A, C, B, D — correct. Accurately orders 15.75 < 34.625 < 38.5 < 50.375.

C. C, A, D, B — incorrect. Does not begin with the smallest value A.

D. D, C, B, A — incorrect. Represents descending order rather than ascending order.
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Question 7
The speed of a boat in still water is 10 km/hr, if it can travel 26 Km downstream and 14 Km upstream in the same time , the speed of the stream is:
1. A4.5 Km/hr
2. B5 Km/hr
3. C3 Km/hr
4. D4 Km/hr
Answer: (C) 3 Km/hr
Explanation
Set the downstream travel time equal to upstream travel time using stream velocity v.

Downstream speed = 10 + v
Upstream speed = 10 - v

Time equality:
26 / (10 + v) = 14 / (10 - v)
13 / (10 + v) = 7 / (10 - v)
13 × (10 - v) = 7 × (10 + v)
130 - 13v = 70 + 7v
20v = 60
v = 3 km/hr

A. 4.5 Km/hr — incorrect. Gives downstream time 26/14.5 and upstream time 14/5.5, which are unequal.

B. 5 Km/hr — incorrect. Yields downstream time 26/15 and upstream time 14/5.

C. 3 Km/hr — correct. Downstream time 26/13 = 2 hours equals upstream time 14/7 = 2 hours.

D. 4 Km/hr — incorrect. Yields downstream time 26/14 and upstream time 14/6.
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Question 8
Which of the following subjects were taught in ancient Indian Universities?

[A] Journalism
[B] Environmental science
[C] Logic
[D] Medicine
[E] Philosophy

Choose the most appropriate answer from the option given below:
1. AA, B, C only
2. BB, C, D only
3. CC, D, E only
4. DA, B, E only
Answer: (C) C, D, E only
Explanation
Ancient Indian universities like Takshashila, Nalanda, and Vikramashila focused on traditional classical disciplines.

Logic (Hetuvidya / Nyaya), Medicine (Chikitsavidya / Ayurveda), and Philosophy (Darshana / Vedic and Buddhist philosophy) were foundational pillars of higher learning.

Journalism and Environmental Science are modern academic specializations that did not exist as distinct formal subjects in ancient curricula.

Therefore, the subjects taught were C, D, and E only.

A. A, B, C only — incorrect. Journalism and environmental science were not ancient disciplines.

B. B, C, D only — incorrect. Includes environmental science.

C. C, D, E only — correct. Covers logic, medicine, and philosophy.

D. A, B, E only — incorrect. Includes modern subjects.
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Question 9

Match the List - I with List - II

LIST-I Population Mean (μ) and ((1/N) Σ x_i^2)	LIST-II Population standard Deviation (σ)
A. μ = 7, (1/N) Σ x_i^2 = 85	I. 9
B. μ = 3, (1/N) Σ x_i^2 = 58	II. 8
C. μ = 7, (1/N) Σ x_i^2 = 113	III. 7
D. μ = 6, (1/N) Σ x_i^2 = 117	IV. 6

AA-I, B-II, C-III, D-IV
BA-II, B-III, C-IV, D-I
CA-III, B-IV, C-I, D-II
DA-IV, B-III, C-II, D-I

Answer: (D) A-IV, B-III, C-II, D-I

Explanation

Population standard deviation σ is calculated from the mean μ and mean of squared values (1/N) Σ x_i^2 using the variance identity σ² = (1/N) Σ x_i^2 - μ².

Resolved mapping: A-IV, B-III, C-II, D-I

A: σ = √(85 - 7²) = √(85 - 49) = √36 = 6, matching IV.
B: σ = √(58 - 3²) = √(58 - 9) = √49 = 7, matching III.
C: σ = √(113 - 7²) = √(113 - 49) = √64 = 8, matching II.
D: σ = √(117 - 6²) = √(117 - 36) = √81 = 9, matching I.
A. A-I, B-II, C-III, D-IV — incorrect. Directly reverses the pairings.
B. A-II, B-III, C-IV, D-I — incorrect. Mismatches calculations.
C. A-III, B-IV, C-I, D-II — incorrect. Assigns wrong standard deviations.
D. A-IV, B-III, C-II, D-I — correct. Accurately pairs each calculation with its resulting standard deviation.

Question 10
With reference to digital communication, which of the following statements A-D are true?

A. A radio broadcast is an example of automatic type of transmission mode
B. A Keyboard communicating with a computer is an example of simplex type of transmission mode
C. Walkie-Talkie operate on half-duplex transmission mode
D. Telephone calls are an example of full-duplex transmission mode

Choose the most appropriate answer from the option given below:
1. AA and B only
2. BB and C only
3. CA and C only
4. DB, C and D only
Answer: (D) B, C and D only
Explanation
Transmission modes define directional flow between communicating devices.

Simplex allows data transfer in only one direction. A keyboard communicating with a computer is a classic simplex example. Radio broadcast is also simplex, not an automatic transmission mode.

Half-duplex permits bidirectional transfer but only one direction at a time, exactly like walkie-talkies where users take turns speaking.

Full-duplex permits simultaneous two-way transmission, as in telephone calls.

Therefore, statements B, C, and D are true, while statement A is false.

A. A and B only — incorrect. Excludes valid transmission examples C and D.

B. B and C only — incorrect. Omits statement D which is also true.

C. A and C only — incorrect. Statement A is false because radio broadcast is simplex.

D. B, C and D only — correct. Accurately identifies simplex, half-duplex, and full-duplex definitions.
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Question 11

Match the List - I with List - II

LIST-I (Toxic Substance Group)	LIST-II (Level of Carcinogenicity)
A. Group A	I. Probable Human Carcinogen
B. Group B	II. Not Classified
C. Group C	III. Human Carcinogen
D. Group D	IV. Possible Human Carcinogen

AA-II, B-IV, C-I, D-III
BA-II, B-I, C-IV, D-III
CA-III, B-IV, C-I, D-II
DA-III, B-I, C-IV, D-II

Answer: (D) A-III, B-I, C-IV, D-II

Explanation

The US EPA 1986 cancer risk assessment guidelines categorize chemical substances based on the weight of evidence for human carcinogenicity.

Resolved mapping: A-III, B-I, C-IV, D-II

Group A: Human Carcinogen (sufficient evidence from human epidemiological studies), matching III.
Group B: Probable Human Carcinogen (subdivided into B1 and B2 based on human vs animal evidence), matching I.
Group C: Possible Human Carcinogen (limited evidence in animals in the absence of human data), matching IV.
Group D: Not Classified as to human carcinogenicity (inadequate evidence), matching II.
A. A-II, B-IV, C-I, D-III — incorrect. Inverts classification levels.
B. A-II, B-I, C-IV, D-III — incorrect. Confuses Group A with unclassified substances.
C. A-III, B-IV, C-I, D-II — incorrect. Reverses Group B and Group C designations.
D. A-III, B-I, C-IV, D-II — correct. Follows standard EPA carcinogen grouping rules.

Question 12

Match the List - I with List - II

LIST-I	LIST-II
A. Polymorphic virus	I. A seemingly useful program that contains hidden harmful program
B. Metamorphic virus	II. Changes its signature with each copy made during replication
C. Trojan virus	III. A malware that spreads copies of itself through a network without user interaction
D. Worm	IV. Completely rewrites itself each time it is replicated, sometimes changing its behavior

AA-II, B-I, C-IV, D-III
BA-III, B-IV, C-I, D-II
CA-II, B-IV, C-I, D-III
DA-I, B-III, C-IV, D-II

Answer: (C) A-II, B-IV, C-I, D-III

Explanation

Different types of malware possess distinct mechanisms of replication and deception.

Resolved mapping: A-II, B-IV, C-I, D-III

Polymorphic virus: Changes its signature with each copy made during replication while keeping its payload functionally equivalent, matching II.
Metamorphic virus: Completely rewrites its code structure and engine each time it replicates, matching IV.
Trojan virus: Appears as a seemingly useful or legitimate program that contains hidden harmful instructions, matching I.
Worm: Standalone malware that replicates and spreads copies of itself across networks without user interaction, matching III.
A. A-II, B-I, C-IV, D-III — incorrect. Confuses Trojan with metamorphic virus.
B. A-III, B-IV, C-I, D-II — incorrect. Pairs polymorphic virus with network worms.
C. A-II, B-IV, C-I, D-III — correct. Accurately reflects virus mutation mechanisms, trojans, and worms.
D. A-I, B-III, C-IV, D-II — incorrect. Misallocates multiple malware categories.

Question 13
Which of the following text readings were identified by Stuart Hall?

A. Complex reading
B. Continuous reading
C. Dominant reading
D. Oppositional reading
E. Negotiated reading

Choose the most appropriate answer from the option given below:
1. AA, B, C only
2. BC, D, E only
3. CB, C, D only
4. DA, B, E only
Answer: (B) C, D, E only
Explanation
Stuart Hall's Encoding and Decoding model (1973) outlines three distinct decoding positions that audiences take when interpreting media texts.

Dominant-hegemonic (Dominant reading): The viewer decodes the message entirely within the preferred code intended by the encoder.

Negotiated reading: The viewer acknowledges the dominant ideology but modifies it to reflect local or personal experiences.

Oppositional reading: The viewer understands the preferred meaning but rejects it entirely in favor of an alternative framework.

Complex and continuous readings are not terms used in Hall's framework. Thus, C, D, and E are the correct set.

A. A, B, C only — incorrect. Includes non-existent categories complex and continuous reading.

B. C, D, E only — correct. Names the exact triad of reading positions formulated by Stuart Hall.

C. B, C, D only — incorrect. Includes continuous reading.

D. A, B, E only — incorrect. Includes complex and continuous reading.
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Question 14
When two propositions with same subject and predicate terms agree in quality but differ in quantity are known as
1. AContraries
2. BSub-Contraries
3. CContradictory
4. DCorresponding
Answer: (D) Corresponding
Explanation
In classical categorical logic and the Square of Opposition, propositions with identical subject and predicate terms exhibit four standard relations.

Subalternation occurs between universal and particular propositions of the same quality (A and I, or E and O). These pairs are known as corresponding propositions.

Contraries (A and E) are both universal but differ in quality.

Sub-contraries (I and O) are both particular but differ in quality.

Contradictories (A and O, or E and I) differ in both quantity and quality.

A. Contraries — incorrect. Both are universal and differ in quality.

B. Sub-Contraries — incorrect. Both are particular and differ in quality.

C. Contradictory — incorrect. Differ in both quantity and quality.

D. Corresponding — correct. Propositions agreeing in quality but differing in quantity represent subalterns, or corresponding propositions.
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Question 15
Identify the sampling techniques that are for studying hidden populations.

A. Simple random sampling
B. Snowball sampling
C. Stratified random sampling
D. Key informant sampling

Choose the most appropriate answer from the option given below:
1. AA and B only
2. BA and C only
3. CB and D only
4. DC and D only
Answer: (C) B and D only
Explanation
Hidden populations (such as stigmatized, vulnerable, or clandestine groups) lack an accessible sampling frame, rendering probability sampling unfeasible.

Snowball sampling leverages social networks of existing participants to recruit further subjects, making it a premier technique for reaching hard-to-find populations.

Key informant sampling relies on knowledgeable community insiders who provide direct introductions and contextual access to hidden groups.

Simple random sampling and stratified random sampling require a complete, pre-existing list of all population elements.

Therefore, B and D are the appropriate non-probability techniques.

A. A and B only — incorrect. Simple random sampling cannot be used without a complete list.

B. A and C only — incorrect. Both are probability techniques requiring known sampling frames.

C. B and D only — correct. Both snowball and key informant sampling specialize in accessing hidden populations.

D. C and D only — incorrect. Includes stratified random sampling.
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Question 16
Which of the following are National Missions of National Action Plan on climate change?

A. National Ozone Mission
B. National Solar Mission
C. National Water Mission
D. National Air Mission
E. National Mission For Green India

Choose the most appropriate answer from the option given below:
1. AA, B, D only
2. BA, D, E only
3. CB, C, E only
4. DC, D, E only
Answer: (C) B, C, E only
Explanation
India's National Action Plan on Climate Change (NAPCC) was launched in 2008 with eight core national missions.

The eight missions comprise:

National Solar Mission

National Mission for Enhanced Energy Efficiency

National Mission on Sustainable Habitat

National Water Mission

National Mission for Sustaining the Himalayan Ecosystem

National Mission for a Green India

National Mission for Sustainable Agriculture

National Mission on Strategic Knowledge for Climate Change

There are no missions named National Ozone Mission or National Air Mission under the NAPCC. Thus, B, C, and E are the valid missions.

A. A, B, D only — incorrect. Includes non-existent ozone and air missions.

B. A, D, E only — incorrect. Includes national ozone mission.

C. B, C, E only — correct. Identifies the solar, water, and green India missions.

D. C, D, E only — incorrect. Omits the solar mission and includes air mission.
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Question 17
When a car passes you on the road and appears to shrink as gets farther away, which phenomenon permits you to realize that car is not in fact getting smaller?
1. ASelf-actualization
2. BTransitivity
3. CPerceptual constancy
4. DSimilarity
Answer: (C) Perceptual constancy
Explanation
Perceptual constancy refers to the tendency of animals and humans to see familiar objects as having standard shape, size, color, or location regardless of changes in the angle of perspective, distance, or lighting.

Size constancy specifically ensures that an object whose retinal image shrinks with distance is still understood to remain the same physical size.

Self-actualization is a humanistic psychological concept related to personal growth.

Transitivity is a mathematical and cognitive property of ordering relations.

Similarity is a Gestalt grouping principle based on visual likeness.

A. Self-actualization — incorrect. Refers to Maslow's hierarchy of needs.

B. Transitivity — incorrect. Deals with deductive logic and ordering.

C. Perceptual constancy — correct. Maintains the perception of constant object size despite changing sensory input.

D. Similarity — incorrect. A perceptual grouping law.
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Question 18
Find out the inter-connected psychodynamics of oral thoughts sequentially, according to Walter J. Ong:

A. Additive
B. Aggregative
C. Copious
D. Traditionalist
E. Close to the human life

Choose the most appropriate answer from the option given below:
1. AA, B, C, D, E
2. BB, C, D, E, A
3. CC, D, E, A, B
4. DD, E, A, B, C
Answer: (A) A, B, C, D, E
Explanation
In Chapter 3 of 'Orality and Literacy' (1982), Walter J. Ong categorizes the psychodynamics of primary oral thought in a systematic sequence.

Sequential characteristics listed by Ong:

Additive rather than subordinative (A)

Aggregative rather than analytic (B)

Redundant or 'copious' (C)

Conservative or traditionalist (D)

Close to the human lifeworld (E)

The sequential ordering matches A, B, C, D, E.

A. A, B, C, D, E — correct. Follows the exact chapter sequence presented in Ong's seminal treatise.

B. B, C, D, E, A — incorrect. Begins out of sequence with aggregative.

C. C, D, E, A, B — incorrect. Begins with copious.

D. D, E, A, B, C — incorrect. Places traditionalist first.
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Question 19
Match the List - I with List - II

LIST-I LIST-II

A. Boudhayana I. Rasaratnakara

B. Nagarjuna II. Arthashastra

C. Brahma Gupta III. Sulva Sutra

D. Vishnu Gupta IV. Brahma Sputa Siddanthika
1. AA-I, B-IV, C-II, D-III
2. BA-IV, B-II, C-III, D-I
3. CA-III, B-I, C-IV, D-II
4. DA-II, B-III, C-I, D-IV
Answer: (C) A-III, B-I, C-IV, D-II
Explanation
Ancient Indian scholars produced foundational texts across geometry, chemistry, astronomy, and political science.

Resolved mapping: A-III, B-I, C-IV, D-II

Boudhayana: Author of the Baudhayana Sulba Sutras containing early geometric constructions and rules for fire altars, matching III.

Nagarjuna: Renowned alchemist and philosopher associated with the chemical and metallurgical treatise Rasaratnakara, matching I.

Brahma Gupta: 7th-century astronomer and mathematician who authored the Brahmasphutasiddhanta, matching IV.

Vishnu Gupta: Known as Chanakya or Kautilya, the revered statesman who authored the Arthashastra, matching II.

A. A-I, B-IV, C-II, D-III — incorrect. Misattributes ancient texts.

B. A-IV, B-II, C-III, D-I — incorrect. Pairs Boudhayana with astronomy.

C. A-III, B-I, C-IV, D-II — correct. Accurately links each scholar to their respective canonical work.

D. A-II, B-III, C-I, D-IV — incorrect. Associates Vishnu Gupta with astronomy rather than political treatise.
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Question 20
A fallacy in which an opponent's position is depicted as being more extreme or unreasonable than is justified by what was actually asserted, is the fallacy of
1. AAppeal to Pity
2. BThe Strawman
3. CThe Red Herring
4. DThe Appeal to the Populace
Answer: (B) The Strawman
Explanation
The straw man fallacy occurs when someone misrepresents, exaggerates, or oversimplifies an opponent's argument to make it easier to attack and refute.

Straw Man: Erecting a distorted version of an argument rather than dealing with the actual claim.

Appeal to Pity (Argumentum ad Misericordiam): Urging acceptance of a conclusion solely by evoking sympathy or compassion.

Red Herring: Introducing an irrelevant topic to divert attention away from the original issue.

Appeal to the Populace (Argumentum ad Populum): Claiming a proposition is true merely because many or most people believe it.

A. Appeal to Pity — incorrect. Relies on emotional sympathy.

B. The Strawman — correct. Distorts an opposing stance to make it look extreme or vulnerable.

C. The Red Herring — incorrect. Uses diversion rather than distortion.

D. The Appeal to the Populace — incorrect. Relies on popular consensus.
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Question 21
A set of rules governing the use of visual and linguistic signs within a particular culture is referred to as:
1. AMedia rule
2. BText frame
3. CTechnical norms
4. DCode
Answer: (D) Code
Explanation
In semiotics and cultural communication theory, a code provides the shared system of conventions and rules that make signs meaningful to a community.

A code connects signifiers with signified concepts and governs how messages are generated and interpreted.

Media rules and technical norms describe institutional or technological regulations rather than foundational sign conventions.

Text frame refers to cognitive or communicative boundaries around discourse.

A. Media rule — incorrect. Refers to broadcast or regulatory guidelines.

B. Text frame — incorrect. Deals with framing perspective in discourse.

C. Technical norms — incorrect. Refers to engineering and production parameters.

D. Code — correct. In semiotics, a code is the conventional system linking signs to cultural meanings.
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Question 22

Match the List - I with List - II

LIST-I (Concept)	LIST-II (Description)
A. Chirographic Culture	I. Print
B. Typographic Culture	II. Speaking to experience the word
C. Oral Culture	III. Spatial understanding through images
D. Visual Culture	IV. Writing

AA-I, B-II, C-III, D-IV
BA-II, B-III, C-IV, D-I
CA-III, B-I, C-IV, D-II
DA-IV, B-I, C-II, D-III

Answer: (D) A-IV, B-I, C-II, D-III

Explanation

Communication theorists, notably Walter Ong and Marshall McLuhan, classify cultural epochs by their dominant communicative technologies.

Resolved mapping: A-IV, B-I, C-II, D-III

Chirographic culture: The stage dominated by handwriting and script (from the Greek root for hand), matching IV.
Typographic culture: Characterized by mechanized movable type and printed books, matching I.
Oral culture: Primary communication conducted through spoken utterance, experiencing the living voice, matching II.
Visual culture: Mediated through pictorial representation, graphic arts, and visual perception, matching III.
A. A-I, B-II, C-III, D-IV — incorrect. Mismatches chirography with print.
B. A-II, B-III, C-IV, D-I — incorrect. Misaligns oral and written cultures.
C. A-III, B-I, C-IV, D-II — incorrect. Inverts chirographic and oral descriptions.
D. A-IV, B-I, C-II, D-III — correct. Accurately links chirography to writing, typography to print, oral to speech, and visual to images.

Question 23
Consider the following MS-EXCEL spreadsheet:

If the formula =$B$2 * $C$2 is entered into cell E2, and the formula is then copied to cells E3 and E4, then the values in cells E2, E3, and E4 will be

A B C D E

1 Item Quantity Price Revenue

2 A-11 12 5 60

3 B-32 31 9 279

4 C-44 24 12 288
1. A60, 60, and 60, respectively.
2. B60, 279 and 288, respectively.
3. C0, 0, and 0, respectively
4. D60, 40 and 36 respectively
Answer: (A) 60, 60, and 60, respectively.
Explanation
The formula =$B$2 * $C$2 uses absolute cell references marked by dollar signs ($) for both rows and columns.

In cell E2, the formula calculates the product of B2 (12) and C2 (5):
12 × 5 = 60

Because the references are absolute, copying the formula down to cells E3 and E4 does not alter the cell addresses.

Both E3 and E4 retain the identical calculation =$B$2 * $C$2, evaluating to 60 in every row.

A. 60, 60, and 60, respectively. — correct. Absolute referencing locks the calculation to row 2.

B. 60, 279 and 288, respectively. — incorrect. This would occur with relative referencing =B2 * C2.

C. 0, 0, and 0, respectively — incorrect. Cell references are populated with non-zero integers.

D. 60, 40 and 36 respectively — incorrect. Unrelated mathematical outputs.
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Question 24
The cultural meaning of text is known as:
1. ANotification
2. BDenotation
3. CConnotation
4. DClosed text
Answer: (C) Connotation
Explanation
In semiotics, particularly the framework formulated by Roland Barthes, meaning operates at two primary levels.

Denotation represents the literal, primary, dictionary meaning of a sign or text.

Connotation represents the secondary, cultural, associative, and ideological layers of meaning constructed by a community.

Closed text refers to a text that heavily directs the reader toward a single preferred interpretation.

A. Notification — incorrect. Not a semiotic category of meaning.

B. Denotation — incorrect. Refers to the literal or direct meaning rather than cultural association.

C. Connotation — correct. Signifies cultural and emotional associations evoked by a text.

D. Closed text — incorrect. Describes textual structure rather than associative meaning.
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Question 25
The degree to which two or more observers agree in their coding and scoring of behaviours, they are observing and recoding, relates to
1. AObserver bias
2. BObserver drift
3. CSubject reactivity
4. DInter-observer reliability
Answer: (D) Inter-observer reliability
Explanation
Inter-observer reliability (also termed inter-rater reliability) assesses the consistency between different observers scoring the same phenomenon independently.

High inter-observer agreement indicates that measurement criteria are clear and objective.

Observer bias refers to the systematic distortion of observation based on subjective expectations.

Observer drift occurs when observers gradually shift their understanding or application of definitions over time.

Subject reactivity describes changes in participants' behavior caused by the awareness of being observed.

A. Observer bias — incorrect. Involves systematic observer preconception.

B. Observer drift — incorrect. Refers to gradual definition changes across time.

C. Subject reactivity — incorrect. Describes participant behavioral alteration under observation.

D. Inter-observer reliability — correct. Directly measures concordance across multiple independent raters.
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Question 26
A Teacher is looking for a Learning Management System (MLS) that can integrate with multiple assessment tools and track student progress. Which platform is best suitable for this?
1. AMoodle
2. BZoom
3. CGrammerly
4. DTurnitin
Answer: (A) Moodle
Explanation
A Learning Management System (LMS) is a comprehensive software platform designed to manage educational content, student administration, and progress analytics.

Moodle (Modular Object-Oriented Dynamic Learning Environment) is an open-source LMS supporting coursework hosting, gradebook management, and integrations with external assessment tools.

Zoom is a synchronous video-conferencing tool rather than a course management system.

Grammarly is an AI-powered writing assistant and grammar proofreading tool.

Turnitin is specialized text-matching and academic integrity software.

A. Moodle — correct. A full-featured LMS supporting assessment integrations and student tracking.

B. Zoom — incorrect. Serves live audio-visual conferencing only.

C. Grammerly — incorrect. Focuses exclusively on syntax and writing enhancements.

D. Turnitin — incorrect. Functions primarily for originality verification.
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Question 27
A study meant to discover whether variable covary, relates to
1. ACase study
2. BLongitudinal research
3. CCorrelational research
4. DArchival research
Answer: (C) Correlational research
Explanation
Correlational research investigates statistical associations between two or more variables to establish whether they covary without experimental intervention.

Covariation implies that changes in one variable correspond systematically to changes in another.

Case study research focuses on an in-depth qualitative examination of a single bounded unit.

Longitudinal research examines changes in cohorts or subjects over extended temporal periods.

Archival research evaluates historical records and pre-existing institutional documents.

A. Case study — incorrect. Investigates individual cases in contextual depth.

B. Longitudinal research — incorrect. Defined by repeated observations over time rather than correlation alone.

C. Correlational research — correct. Explicitly measures the degree of covariation between variables.

D. Archival research — incorrect. Uses secondary historical records.
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Question 28
According the Naiyāyikās, words mean
1. AUniversals only (Jāti)
2. BParticular only (Vyakti)
3. CConfiguration only (Ākriti)
4. DUniversal, particular and configuration (Jāti, yakti and Ākriti)
Answer: (D) Universal, particular and configuration (Jāti, yakti and Ākriti)
Explanation
In classical Nyaya epistemology, Gautama's Nyaya Sutra establishes that the meaning of a word (padartha) encompasses three interrelated aspects simultaneously.

Vyakti (the concrete individual or particular entity)

Akriti (the structural configuration or bodily form)

Jati (the universal or genus that defines the class essence)

While the Mimamsa school argued for universal alone (Jati) and early grammatical schools argued for individual alone (Vyakti), the Naiyayikas held that a word denotes the individual possessed of configuration and universal.

A. Universals only (Jāti) — incorrect. Represents the classical Mimamsaka viewpoint.

B. Particular only (Vyakti) — incorrect. Represents the individualist view rejected by Nyaya.

C. Configuration only (Ākriti) — incorrect. Configuration alone fails to convey class essence.

D. Universal, particular and configuration (Jāti, yakti and Ākriti) — correct. Preserves the composite definition established in Nyaya Sutra.
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Question 29
Which of the following are chemical parameters of water quality?

A. Ph
B. Hardness
C. Turbidity
D. DO
E. BOD

Choose the most appropriate answer from the option given below:
1. AA, B, C and D only
2. BA, B, D and E only
3. CB, C, D and E only
4. DA, C, and E only
Answer: (B) A, B, D and E only
Explanation
Water quality parameters are categorized into physical, chemical, and biological dimensions.

Chemical parameters include pH (hydrogen ion activity), Hardness (concentration of multivalent cations), Dissolved Oxygen (DO), and Biochemical Oxygen Demand (BOD).

Turbidity is a physical parameter reflecting the optical clarity and light scattering of suspended particulates in water.

Excluding physical parameter C leaves A, B, D, and E as the genuine chemical parameters.

A. A, B, C and D only — incorrect. Includes physical parameter turbidity.

B. A, B, D and E only — correct. Encompasses all listed chemical and biochemical parameters.

C. B, C, D and E only — incorrect. Omits pH and includes turbidity.

D. A, C, and E only — incorrect. Incomplete set that includes turbidity.
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Question 30
Find the number that can replace the question mark (?) in the series given below: 4, 27, 16, 125, 36, ? , 64, 729
1. A343
2. B81
3. C49
4. D161
Answer: (A) 343
Explanation
The sequence alternates squares and cubes of consecutive natural numbers starting from 2.

Term 1: 2² = 4

Term 2: 3³ = 27

Term 3: 4² = 16

Term 4: 5³ = 125

Term 5: 6² = 36

Term 6 (?): 7³ = 343

Term 7: 8² = 64

Term 8: 9³ = 729

The calculation for the missing term yields 7³ = 343.

A. 343 — correct. The cube of 7 completes the alternating square-cube pattern.

B. 81 — incorrect. Represents 9² or 3⁴, violating the consecutive number base.

C. 49 — incorrect. Represents 7² instead of the required cube.

D. 161 — incorrect. Does not follow exponential powers.
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Question 31
The previous nomenclature of Ministry of Education was
1. AMinistry of Youth Affairs
2. BMinistry of Human Resource Development
3. CMinistry of Education and Research
4. DMinistry of Central Affairs
Answer: (B) Ministry of Human Resource Development
Explanation
Under the National Education Policy (NEP) 2020, the Ministry of Human Resource Development (MHRD) was renamed as the Ministry of Education.

The ministry was initially created as the Ministry of Education at independence, renamed to MHRD in 1985, and restored to its original title in August 2020.

Ministry of Youth Affairs and Sports remains a distinct Union ministry.

A. Ministry of Youth Affairs — incorrect. Refers to a separate executive portfolio.

B. Ministry of Human Resource Development — correct. Served as the official departmental name between 1985 and 2020.

C. Ministry of Education and Research — incorrect. Never an official nomenclature in the Union Cabinet.

D. Ministry of Central Affairs — incorrect. Fictitious administrative entity.
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Question 32
Which of the following are the elements of observational learning?

A. Retention
B. Attention
C. Adaptation
D. Production
E. Motivation

Choose the most appropriate answer from the option given below:
1. AA, B, D and E only
2. BC and E only
3. CA, B, C and E only
4. DB and D only
Answer: (A) A, B, D and E only
Explanation
Albert Bandura's Social Learning Theory delineates four interconnected cognitive processes necessary for observational learning.

Attention: Noticing and perceiving critical features of modeled behavior

Retention: Encoding and storing modeled information in memory

Production (Reproduction): Translating symbolic representations into overt actions

Motivation: Driving performance through anticipated rewards or reinforcement

Adaptation is a construct from Jean Piaget's cognitive development theory, not Bandura's modeling framework. Thus, A, B, D, and E represent the complete observational set.

A. A, B, D and E only — correct. Encompasses all four foundational processes in Bandura's model.

B. C and E only — incorrect. Omits primary cognitive phases attention and retention.

C. A, B, C and E only — incorrect. Erroneously includes Piagetian adaptation.

D. B and D only — incorrect. Leaves out retention and motivation.
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Question 33
The smog of Great London Smog Disaster was composed of high concentrations of

A. Nitrogen dioxide
B. Sulphur dioxide
C. Peroxy Acetyl Nitrate (PAN)
D. Particulate matter

Choose the most appropriate answer from the option given below:
1. AA and B only
2. BA and C only
3. CC and D only
4. DB and D only
Answer: (D) B and D only
Explanation
The Great London Smog of 1952 was a severe episode of classical reducing smog triggered by extensive domestic and industrial coal combustion trapped under an atmospheric inversion.

Its primary lethal components were massive concentrations of sulphur dioxide (SO2) and carbonaceous smoke or particulate matter, which reacted with moisture to form sulphuric acid fog.

Photochemical pollutants like Peroxyacetyl Nitrate (PAN) and high nitrogen dioxide concentrations are hallmarks of oxidizing photochemical smog, not London smog.

Consequently, the constituents were B and D only.

A. A and B only — incorrect. Nitrogen dioxide was not a defining lethal component of this classical smog event.

B. A and C only — incorrect. Includes photochemical oxidants characteristic of sunny environments.

C. C and D only — incorrect. Mistakenly links PAN to sulphurous coal smog.

D. B and D only — correct. Accurately highlights sulphur dioxide and particulate matter as the major constituents.
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Question 34
The chronological sequence of the following chairpersons of UGC is:

A. Armaity S. Dasai
B. G. Ram Reddy
C. Manmohan Singh
D. Yashpal
E. Madhuri R. Shah

Choose the most appropriate answer from the option given below:
1. AA, E, B, D, C
2. BB, C, E, A, D
3. CC, D, A, E, B
4. DE, D, C, B, A
Answer: (D) E, D, C, B, A
Explanation
The University Grants Commission (UGC) chairpersons served in clear historical succession.

Chronological tenures:

Prof. Madhuri R. Shah: 1981 to 1986 (E)

Prof. Yash Pal: 1986 to 1991 (D)

Dr. Manmohan Singh: March 1991 to June 1991 (C)

Prof. G. Ram Reddy: 1991 to 1995 (B)

Prof. Armaity S. Desai: 1995 to 1999 (A)

The chronological progression corresponds to E, D, C, B, A.

A. A, E, B, D, C — incorrect. Places Armaity Desai before Madhuri Shah.

B. B, C, E, A, D — incorrect. Reverses the 1980s and 1990s leadership.

C. C, D, A, E, B — incorrect. Mismatches earlier tenures with later decades.

D. E, D, C, B, A — correct. Accurately reflects sequential appointments spanning from 1981 through the late 1990s.
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Question 35
If 'Z' represents the standard normal variate, then arrange the following probabilities in increasing order:

A. P (0 ≤ Z ≤ 1)
B. P (-∞ ≤ Z ≤ 0)
C. P (1 ≤ Z ≤ 3)
D. P (2 ≤ Z ≤ +∞)

Choose the most appropriate answer from the option given below:
1. AA, B, C, D
2. BB, C, D, A
3. CC, D, A, B
4. DD, C, A, B
Answer: (D) D, C, A, B
Explanation
Evaluate the cumulative areas under the symmetric standard normal curve Z ~ N(0, 1).

B. P(-∞ ≤ Z ≤ 0) = 0.5000 (entire left half of the bell curve)

A. P(0 ≤ Z ≤ 1) ≈ 0.3413 (area between mean and one standard deviation)

C. P(1 ≤ Z ≤ 3) = P(0 ≤ Z ≤ 3) - P(0 ≤ Z ≤ 1) ≈ 0.4987 - 0.3413 = 0.1574

D. P(2 ≤ Z ≤ +∞) = 0.5000 - P(0 ≤ Z ≤ 2) ≈ 0.5000 - 0.4772 = 0.0228

Arranging the probability values in increasing order:
0.0228 (D) < 0.1574 (C) < 0.3413 (A) < 0.5000 (B)

A. A, B, C, D — incorrect. Places the substantial 0.3413 area first.

B. B, C, D, A — incorrect. Starts with the largest area 0.5000.

C. C, D, A, B — incorrect. Inverts the relationship between C and D.

D. D, C, A, B — correct. Accurately orders areas from smallest tail probability to half distribution.
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Question 36
In a certain code language:
'617' means "Sweet and Hot"
'735' means "Coffee is Sweet"
'263' means "Tea and Coffee"
What is the code for "Coffee is hot" in that language?
1. A'675'
2. B'537'
3. C'536'
4. D'573'
Answer: (C) '536'
Explanation
Isolate the unique digit mappings through pairwise comparison of the coded statements.

Comparing '617' (Sweet and Hot) and '735' (Coffee is Sweet), the shared word is Sweet and the shared digit is 7. Thus, Sweet = 7.

Comparing '735' (Coffee is Sweet) and '263' (Tea and Coffee), the shared word is Coffee and the shared digit is 3. Thus, Coffee = 3.

Since '735' contains Coffee (3), Sweet (7), and 'is', the remaining digit must be 5. Thus, is = 5.

The target phrase 'Coffee is hot' requires the digits for Coffee (3) and is (5). Among all available choices, only '536' contains both digits 5 and 3.

A. '675' — incorrect. Lacks the mandatory digit 3 for Coffee.

B. '537' — incorrect. Contains digit 7 which codes for Sweet rather than hot.

C. '536' — correct. Contains both verified codes 3 and 5 for Coffee and is.

D. '573' — incorrect. Includes 7 which represents Sweet.
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Question 37
A woman walks 100 meters towards north. Then she turns to her left and walks 50 meters, again turns left and walks 120m finally she turns to her right at an angle of 45 degrees and starts walking now ?
1. ANorth
2. BSouth-West
3. CWest
4. DNorth-West
Answer: (B) South-West
Explanation
Track the sequential directions and headings step by step.

Initial direction: Facing North (0°)

First left turn (90° counter-clockwise): Facing West (270°)

Second left turn (90° counter-clockwise from West): Facing South (180°)

Final right turn at 45°: Turning 45° clockwise from South points midway between South and West

The resulting heading is South-West.

A. North — incorrect. Completely opposite to the final heading.

B. South-West — correct. Turning 45 degrees right from a southward direction points directly to South-West.

C. West — incorrect. Would require a full 90-degree right turn from South.

D. North-West — incorrect. Corresponds to a right turn from West rather than South.
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Question 38
The age of the father is twice that of the elder son. Ten years hence the age of the father will be three times the age of the younger son. If the difference of ages of the two sons is 15 years, what is the age of the father?
1. A50 yrs
2. B45 yrs
3. C43 yrs
4. D40 yrs
Answer: (A) 50 yrs
Explanation
Formulate algebraic relationships from the given age conditions.

Let Father's age be F, elder son's age be E, and younger son's age be Y.

Condition 1: F = 2E, which gives E = F / 2

Condition 2: E - Y = 15, which gives Y = E - 15 = (F / 2) - 15

Condition 3: Ten years hence, F + 10 = 3 × (Y + 10)

Substitute Y into the age equation:
F + 10 = 3 × ((F / 2) - 15 + 10)
F + 10 = 3 × ((F / 2) - 5)
F + 10 = (1.5 × F) - 15
25 = 0.5 × F
F = 50 years

A. 50 yrs — correct. Yields elder son = 25, younger son = 10, and in 10 years father (60) is three times younger son (20).

B. 45 yrs — incorrect. Yields non-integer ages for the sons.

C. 43 yrs — incorrect. Does not satisfy proportional multiples.

D. 40 yrs — incorrect. Yields younger son = 5, and in 10 years 50 does not equal 3 × 15.
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Question 39
Which of the following was pertinent observation of the Indian Education Commission 1964-66?
1. APyramid type of organisation being replaced by flat organisation
2. BIndian universities are global in character
3. CForeign universities are heavily funding Indian students
4. DAll university graduates are guaranteed jobs in India.
Answer: (A) Pyramid type of organisation being replaced by flat organisation
Explanation
The Indian Education Commission (1964 to 1966), chaired by Dr. D. S. Kothari, analyzed structural governance across educational institutions.

The Commission observed that the rigid, hierarchical pyramid model of educational administration was transitioning toward more decentralized, participatory, and flatter organizational structures.

It critically noted that universities needed modernization and did not possess guaranteed graduate employment, extensive foreign institutional funding, or universal global parity.

A. Pyramid type of organisation being replaced by flat organisation — correct. Highlights the structural governance observation framed in the Kothari Commission report.

B. Indian universities are global in character — incorrect. The report highlighted provincialism and quality gaps requiring national standards.

C. Foreign universities are heavily funding Indian students — incorrect. Not an observation in the commission's findings.

D. All university graduates are guaranteed jobs in India. — incorrect. The commission explicitly raised concerns regarding graduate unemployment.
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Question 40
Rita's smartphone uses an open source operating system. Which of the following best describes the source code in an open source operating system?
1. AIt is owned by the company who developed it
2. BIt is made available to users.
3. CIt is more secure.
4. DIt uses less processing power.
Answer: (B) It is made available to users.
Explanation
The defining attribute of open source software is that its underlying human-readable source code is made publicly accessible under an open license.

Users, developers, and researchers are permitted to inspect, modify, and distribute the code.

While open source code can be reviewed for vulnerabilities, openness does not automatically guarantee superior security or lower CPU consumption.

Proprietary software, by contrast, restricts source code access to the owning organization.

A. It is owned by the company who developed it — incorrect. Defines closed proprietary code models.

B. It is made available to users. — correct. Freely accessible source code constitutes the core criterion of open source licensing.

C. It is more secure. — incorrect. Security depends on implementation and maintenance rather than licensing alone.

D. It uses less processing power. — incorrect. Execution efficiency is independent of open source licensing.
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Question 41
Which of the following are the benefits of Metacognition?

A. Metacognitive practice help learners to plan, monitor and evaluate their own progress.
B. Metacognitive practices make a unique contribution to learning over and above the influence of cognitive ability.
C. Metacognitive practice help to improve academic achievements of learners.
D. Metacognitive skills help students to transfer what they have learnt one context to the next.

Choose the most appropriate answer from the option given below:
1. AA and D only
2. BB and C only
3. CA, B, C and D
4. DC only
Answer: (C) A, B, C and D
Explanation
Metacognition, conceptualized as 'thinking about one's own thinking', encompasses self-regulatory mechanisms that enhance educational outcomes.

A is true: Metacognitive regulation involves planning strategies, monitoring comprehension, and evaluating task performance.

B is true: Empirical educational research shows metacognitive skill makes an independent contribution to academic success beyond general cognitive intelligence.

C is true: Developing metacognitive reflection directly boosts student academic achievement.

D is true: Metacognitive awareness enables learners to generalize and transfer problem-solving methods across disparate learning domains.

All four statements A, B, C, and D are well-established benefits.

A. A and D only — incorrect. Arbitrarily excludes validated benefits B and C.

B. B and C only — incorrect. Omits core regulatory functions described in A and transfer in D.

C. A, B, C and D — correct. Confirms all four empirical benefits of metacognitive practice.

D. C only — incorrect. Incomplete evaluation.
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Question 42
Arguments by Analogy are
1. AClassified as valid
2. BClassified as invalid
3. CClaimed to follow from their premises with logical necessity
4. DProbable
Answer: (D) Probable
Explanation
Analogical arguments draw an inductive inference by comparing known similarities between two entities to infer an unobserved shared characteristic.

Because analogical arguments are inductive, their conclusions do not follow with strict logical necessity.

Inductive arguments are evaluated in terms of probability, strength, or plausibility rather than formal validity.

Terms such as 'valid' and 'invalid' apply strictly to deductive arguments.

A. Classified as valid — incorrect. Validity applies solely to deductive reasoning.

B. Classified as invalid — incorrect. Invalidation applies to deductive arguments failing formal necessity.

C. Claimed to follow from their premises with logical necessity — incorrect. Describes the deductive standard.

D. Probable — correct. Analogical arguments establish conclusions that are probable rather than logically certain.
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Question 43
Identify the figure and mood of the following:
"All sodium salts are water- soluble substances. All soaps are sodium salts. Therefore, all soaps are water soluble substances."

Codes:
1. AAEI : (II)nd Figure
2. BAAA : (III)rd Figure
3. CIIA : (IV)th Figure
4. DAAA : (I)st Figure
Answer: (D) AAA : (I)st Figure
Explanation
Analyze the categorical syllogism by identifying the mood of each proposition and the placement of the middle term.

Major Premise: All sodium salts (M) are water-soluble substances (P). (Universal Affirmative: A)

Minor Premise: All soaps (S) are sodium salts (M). (Universal Affirmative: A)

Conclusion: All soaps (S) are water-soluble substances (P). (Universal Affirmative: A)

The mood consisting of three universal affirmatives is AAA.
In Figure 1, the middle term M is the subject of the major premise and predicate of the minor premise (M-P, S-M), matching the classical valid form Barbara (AAA-1).

A. AEI : (II)nd Figure — incorrect. All premises and conclusions are affirmative A statements.

B. AAA : (III)rd Figure — incorrect. In Figure 3 the middle term serves as subject in both premises.

C. IIA : (IV)th Figure — incorrect. Syllogism uses universal premises rather than particular I propositions.

D. AAA : (I)st Figure — correct. Correctly identifies the AAA mood and First Figure positioning.
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Question 44
What is the correct sequence of Global Warning Potential (GWP) of following Green House Gases from lowest to highest?

A. (CH)_4 (Methane)
B. (CO)_2 (Carbon dioxide)
C. (CFC) - (Chloro Fluoro carbon - 11)
D. N_2O (Nitrus oxide)

Choose the most appropriate answer from the option given below:
1. AC, A, B, D
2. BA, D, B, C
3. CB, A, C, D
4. DB, A, D, C
Answer: (D) B, A, D, C
Explanation
Global Warming Potential (GWP) measures the relative heat-trapping capacity of greenhouse gases compared to carbon dioxide over a 100-year time horizon.

Standard 100-year GWP values:

Carbon dioxide (CO2): Baseline GWP = 1 (B)

Methane (CH4): GWP ≈ 28 to 30 (A)

Nitrous oxide (N2O): GWP ≈ 265 to 273 (D)

CFC-11 (Trichlorofluoromethane): GWP ≈ 4660 to 5200 (C)

Ascending order of GWP:
CO2 (B) < CH4 (A) < N2O (D) < CFC-11 (C)

A. C, A, B, D — incorrect. Begins with CFC-11 which has the highest potential.

B. A, D, B, C — incorrect. Places methane before carbon dioxide.

C. B, A, C, D — incorrect. Inverts nitrous oxide and chlorofluorocarbon.

D. B, A, D, C — correct. Accurately arranges gases from baseline 1 up to high-impact halocarbons.
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Question 45

Match the List - I with List - II

LIST-I (Collaborative learning Strategy)	LIST-II (Meaning)
A. Round Robin Brain Storming	I. Observing and listening to a core group discussion
B. Numbered Heads Together	II. Students teaching a specific topic to others
C. Fishbowl	III. Discussing a topic in turn within a small group
D. Peer Teaching	IV. Assigning roles and rotating group representatives

AA-IV, B-III, C-II, D-I
BA-III, B-IV, C-I, D-II
CA-II, B-III, C-I, D-IV
DA-III, B-II, C-IV, D-I

Answer: (B) A-III, B-IV, C-I, D-II

Explanation

Collaborative learning strategies utilize distinct organizational mechanisms to promote engagement.

Resolved mapping: A-III, B-IV, C-I, D-II

Round Robin Brainstorming: Structured small-group brainstorming where each member contributes an idea in turn without immediate critique, matching III.
Numbered Heads Together: Cooperative model where members work together and rotating assigned numbers represent group responses, matching IV.
Fishbowl: An inner core group conducts discussion while an outer ring observes and takes notes, matching I.
Peer Teaching: Direct instructional technique where students teach targeted concepts to classmates, matching II.
A. A-IV, B-III, C-II, D-I — incorrect. Misaligns round robin with role assignment.
B. A-III, B-IV, C-I, D-II — correct. Accurately links each cooperative structure to its defining instructional method.
C. A-II, B-III, C-I, D-IV — incorrect. Pairs round robin with student teaching.
D. A-III, B-II, C-IV, D-I — incorrect. Mismatches fishbowl and peer teaching.

Question 46
According to Ayurveda the lifestyle of each individual needs to be carved out considering_________.
Read the following passage and answer the questions that follow:

Ayurveda defines health as a dynamic balance of the internal environment that positively impacts the sense organs, mind and the self. Each individual is unique and has a specific mental and physical constitution, which defines the vulnerability to disease and the scope for achieving higher levels of health. Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.
Advances in human genetics and medical genetics have heralded the emergence of a personalized approach to medicine today that tailors medical intervention to suit individual needs.
Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment. Ayurveda proclaims that the human being is an epitome of the universe. The microcosm is a miniature representation of the macrocosm and the human being is made up of the same elements that make up nature. Thus it is that Ayurveda developed into an ecology-conscious system of healthcare. For the people of a locality, the plants growing around them are the most suited.
Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.
1. AThe things they like
2. BSticking to a diet of fruits
3. CTheir particular region and the changing seasons
4. DWhat is cheaply available
Answer: (C) Their particular region and the changing seasons
Explanation
The final sentence of the passage states that each individual must design their lifestyle with regard to their immediate geographical habitat and seasonal variations.

Passage cue: 'Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.'

A. The things they like — incorrect. Focuses on personal indulgence rather than environmental balance.

B. Sticking to a diet of fruits — incorrect. Dietary restrictions of this type are not stated in the passage.

C. Their particular region and the changing seasons — correct. Directly matches the explicit textual statement.

D. What is cheaply available — incorrect. Economic cost is not mentioned in the passage.
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Question 47
Ayurvedic system of health_______.
Read the following passage and answer the questions that follow:

Ayurveda defines health as a dynamic balance of the internal environment that positively impacts the sense organs, mind and the self. Each individual is unique and has a specific mental and physical constitution, which defines the vulnerability to disease and the scope for achieving higher levels of health. Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.
Advances in human genetics and medical genetics have heralded the emergence of a personalized approach to medicine today that tailors medical intervention to suit individual needs.
Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment. Ayurveda proclaims that the human being is an epitome of the universe. The microcosm is a miniature representation of the macrocosm and the human being is made up of the same elements that make up nature. Thus it is that Ayurveda developed into an ecology-conscious system of healthcare. For the people of a locality, the plants growing around them are the most suited.
Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.
1. ADoes not care about the environment
2. BBelieves in destroying the environment
3. CIs ecology conscious
4. DPollutes the environment
Answer: (C) Is ecology conscious
Explanation
The passage establishes that Ayurveda is fundamentally oriented toward ecological harmony.

Passage cue: 'Thus it is that Ayurveda developed into an ecology-conscious system of healthcare.'

A. Does not care about the environment — incorrect. Directly contradicts the central premise of ecological harmony.

B. Believes in destroying the environment — incorrect. Completely opposed to Ayurvedic principles.

C. Is ecology conscious — correct. Directly mirrors the passage phrasing describing Ayurveda as an ecology-conscious system.

D. Pollutes the environment — incorrect. Factual contradiction.
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Question 48
Ayurveda advocates
Read the following passage and answer the questions that follow:

Ayurveda defines health as a dynamic balance of the internal environment that positively impacts the sense organs, mind and the self. Each individual is unique and has a specific mental and physical constitution, which defines the vulnerability to disease and the scope for achieving higher levels of health. Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.
Advances in human genetics and medical genetics have heralded the emergence of a personalized approach to medicine today that tailors medical intervention to suit individual needs.
Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment. Ayurveda proclaims that the human being is an epitome of the universe. The microcosm is a miniature representation of the macrocosm and the human being is made up of the same elements that make up nature. Thus it is that Ayurveda developed into an ecology-conscious system of healthcare. For the people of a locality, the plants growing around them are the most suited.
Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.
1. AA personalized treatment
2. BA similar treatment for all individuals
3. COnly a preventive approach to diseases
4. DAllopathic treatment
Answer: (A) A personalized treatment
Explanation
The passage highlights that Ayurveda has championed individualized treatment since antiquity.

Passage cue: 'Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.'

A. A personalized treatment — correct. Directly supported by the passage emphasizing individualized mental and physical constitutions.

B. A similar treatment for all individuals — incorrect. Contradicts the principle that each individual has a unique constitution.

C. Only a preventive approach to diseases — incorrect. The passage does not restrict Ayurveda to prevention only.

D. Allopathic treatment — incorrect. Allopathy is modern Western medicine, not Ayurveda.
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Question 49
A suitable title for the passage would be:
Read the following passage and answer the questions that follow:

Ayurveda defines health as a dynamic balance of the internal environment that positively impacts the sense organs, mind and the self. Each individual is unique and has a specific mental and physical constitution, which defines the vulnerability to disease and the scope for achieving higher levels of health. Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.
Advances in human genetics and medical genetics have heralded the emergence of a personalized approach to medicine today that tailors medical intervention to suit individual needs.
Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment. Ayurveda proclaims that the human being is an epitome of the universe. The microcosm is a miniature representation of the macrocosm and the human being is made up of the same elements that make up nature. Thus it is that Ayurveda developed into an ecology-conscious system of healthcare. For the people of a locality, the plants growing around them are the most suited.
Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.
1. ADynamic Balance
2. BDisease Treatment in India
3. CAyurveda
4. DInternal and External Environment
Answer: (C) Ayurveda
Explanation
The entire passage centers on Ayurveda, delineating its definition of health, ancient roots in personalized medicine, and ecological philosophy.

'Ayurveda' represents the primary subject unifying all paragraphs.

'Dynamic Balance' and 'Internal and External Environment' are partial themes within the text rather than comprehensive titles.

'Disease Treatment in India' is overly broad and misrepresents the passage's conceptual philosophical focus.

A. Dynamic Balance — incorrect. Captures only a single opening definition.

B. Disease Treatment in India — incorrect. Too broad and inaccurate for a theoretical Ayurvedic text.

C. Ayurveda — correct. Accurately encompasses the holistic subject matter developed across the passage.

D. Internal and External Environment — incorrect. Focuses on an environmental mechanism rather than the overarching discipline.
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Question 50
According to Ayurveda maintaining the balance of the internal environment of the body ________.
Read the following passage and answer the questions that follow:

Ayurveda defines health as a dynamic balance of the internal environment that positively impacts the sense organs, mind and the self. Each individual is unique and has a specific mental and physical constitution, which defines the vulnerability to disease and the scope for achieving higher levels of health. Ayurveda has also been at the forefront of advocating an approach to personalized medicine form historical times.
Advances in human genetics and medical genetics have heralded the emergence of a personalized approach to medicine today that tailors medical intervention to suit individual needs.
Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment. Ayurveda proclaims that the human being is an epitome of the universe. The microcosm is a miniature representation of the macrocosm and the human being is made up of the same elements that make up nature. Thus it is that Ayurveda developed into an ecology-conscious system of healthcare. For the people of a locality, the plants growing around them are the most suited.
Each individual has to carve a lifestyle that considers the geographical region as well as the changing seasons.
1. AHas no connection with the external environment
2. BIs negligibly related to the external environment
3. CIs closely related to the external environment
4. DIs sometimes dependent on the external environment
Answer: (C) Is closely related to the external environment
Explanation
The passage asserts that internal equilibrium is inextricably linked to harmony with the surrounding ecosystem.

Passage cue: 'Ayurveda points out that the balance of the inner environment can be maintained only by establishing harmony with the external environment.'

A. Has no connection with the external environment — incorrect. Contradicts the explicit requirement of harmony.

B. Is negligibly related to the external environment — incorrect. Falsely minimizes the essential relationship.

C. Is closely related to the external environment — correct. Conveys the direct dependency between internal bodily balance and the external environment.

D. Is sometimes dependent on the external environment — incorrect. Weakens the unconditional relationship stated in the text.
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Paper 2 — Commerce

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100 questions with the answer key and explanations.

Question 1
Which of the following is not the characteristics of theory of comparative cost advantage?

A. There is full employment of the factors of production
B. There are two countries, two commodities and two factors of production
C. There are two countries, two commodities and one factor of production
D. There is absence of transportation cost
E. The countries are capital intensive only

Choose the correct answer from the options given below:
1. AA, B, C Only
2. BB, C, D Only
3. CA, C, D Only
4. DA, B, E Only
Answer: (D) A, B, E Only
Explanation
David Ricardo's classical theory of comparative cost advantage assumes a two-country, two-commodity, and single-factor (labor) economy with zero transport costs.

Statement B — not a characteristic of Ricardian theory. Ricardo assumes only one factor of production (labor), whereas a two-factor model characterizes the Heckscher-Ohlin theorem.

Statement E — not a characteristic. The model is based on the labor theory of value, not capital intensity.

Statement A — framed in plural "factors of production", whereas Ricardo's assumption is full employment of labor.

Statements C and D — valid Ricardian assumptions (2x2x1 model and absence of transport costs). Any option containing C or D cannot represent features that are not characteristics.
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Question 2
Which one of the following is the developmental role of RBI?
1. AFormulates, implements and monitors the monitary policy
2. BPrescribes broad parameters of banking operations
3. CIssues, exchanges end destroys currency notes
4. DPerforms a wide range of promotional functions to support national objectives
Answer: (D) Performs a wide range of promotional functions to support national objectives
Explanation
The Reserve Bank of India performs developmental and promotional functions to support national priorities such as financial inclusion, priority sector lending, and establishing specialized refinancing institutions.

A. Formulates, implements and monitors the monitary policy — monetary authority function.

B. Prescribes broad parameters of banking operations — supervisory and regulatory function.

C. Issues, exchanges end destroys currency notes — traditional currency management function.

D. Performs a wide range of promotional functions to support national objectives — correct. This constitutes the RBI's developmental and promotional mandate.
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Question 3
Arrange the following Securities Exchange Board of India (SEBI) regulations in the ascending year of their enactment.

A. ICDR regulations
B. Intermediaries regulations
C. Real estate investment Trusts regulations
D. Buy - Back of Securities by listed companies regulations
E. Listing Obligations and Disclosures Requirements Regulations

Choose the correct answer from the options given below:
1. AD, B, A, C, E
2. BD, A, E, C, B
3. CA, C, D, E, B
4. DB, A, E, D, C
Answer: (A) D, B, A, C, E
Explanation
The enactment years of the specified SEBI regulations in chronological order are:

D, B, A, C, E

D. Buy-Back of Securities regulations — enacted in 1998.

B. Intermediaries regulations — enacted in 2008.

A. ICDR regulations — enacted in 2009.

C. Real Estate Investment Trusts (REITs) regulations — enacted in 2014.

E. Listing Obligations and Disclosure Requirements (LODR) regulations — enacted in 2015.
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Question 4
The Consumer Protection Act came into force first on
1. A14 June, 1986
2. B20 January, 1987
3. C24 December, 1986
4. D14 July, 1987
Answer: (C) 24 December, 1986
Explanation
The Consumer Protection Act, 1986 received the assent of the President of India on 24 December 1986, which is standardly recognized as its historic enactment date and observed annually as National Consumer Rights Day.

A. 14 June, 1986 — incorrect. The legislation had not yet been passed by Parliament.

B. 20 January, 1987 — incorrect. Not an operative milestone date for the Act.

C. 24 December, 1986 — correct. Presidential assent was accorded on this date.

D. 14 July, 1987 — incorrect. The core enforcement notifications occurred in April and July 1987, not on 14 July.
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Question 5

Match List-I with List-II.

List-I (Concept)	List-II (Meaning)
A. Exchange Rate	I. It refers to the price of one unit of foreign currency in terms of some units of home curreny
B. Forward market	II. It is the process of making risk less profits by exploiting price differences of assets in different market.
C. Arbitrage	III. Where transactions are entered into for settlement on a future date
D. Direct Quotation	IV. It is a price of one unit of a currency in terms of some units of another currency

AA-IV, B-III, C-II, D-I
BA-III, B-IV, C-II, D-I
CA-I, B-II, C-III, D-IV
DA-I, B-III, C-II, D-IV

Answer: (A) A-IV, B-III, C-II, D-I

Explanation

Foreign exchange and financial market concepts correspond to their economic definitions as follows:

A-IV, B-III, C-II, D-I

A. Exchange Rate — IV. It is a price of one unit of a currency in terms of some units of another currency.
B. Forward market — III. Where transactions are entered into for settlement on a future date.
C. Arbitrage — II. It is the process of making risk less profits by exploiting price differences of assets in different market.
D. Direct Quotation — I. It refers to the price of one unit of foreign currency in terms of some units of home currency.

Question 6
Which of the following are the characteristics of a high customer centric Organization?

A. Market driven
B. Process Oriented
C. Value Driven
D. Price Driven
E. Making competitor irrelevant

Choose the correct answer from the options given below:
1. AA, B, E Only
2. BA, C, E Only
3. CB, C, D Only
4. DC, D, E Only
Answer: (B) A, C, E Only
Explanation
A customer-centric organization designs its strategy around customer needs and superior value creation.

A. Market driven — true. It continuously senses and responds to market and customer requirements.

C. Value Driven — true. It focuses on delivering customer lifetime value rather than transactional volume.

E. Making competitor irrelevant — true. By creating unique value offerings, it differentiates beyond head-to-head rivalry.

B and D — false. Process-oriented firms are internally focused on operations, and price-driven firms focus on cost cutting rather than customer value.
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Question 7
Beta Company Ltd issued 10% perpetual debt of ₹1,00,000. The company's tax rate is 50%. Determine the cost of capital (before tax as well as after tax) assuming the debt is issued at 10 percent premium.
1. ABefore tax cost = 9.09% and after tax cost = 4.54%
2. BBefore tax cost = 4.54% and after tax cost = 9 %
3. CBefore tax cost = 9.90% and after tax cost = 4.45%
4. DBefore tax cost = 10.09% and after tax cost = 5.54%
Answer: (A) Before tax cost = 9.09% and after tax cost = 4.54%
Explanation
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Question 8
Match List-I with List-II.
Personality Type Congruent Occupation
A. Social I. Mechanic
B. Conventional II. Mathematician
C. Investigative III. Corporate Manager
D. Realistic IV. Teacher
1. AA-IV, B-III, C-II, D-I
2. BA-III, B-IV, C-II, D-I
3. CA-IV, B-II, C-III, D-I
4. DA-II, B-IV, C-I, D-III
Answer: (A) A-IV, B-III, C-II, D-I
Explanation
John Holland's Vocational Preference (RIASEC) model pairs personality orientations with congruent occupational roles:

A-IV, B-III, C-II, D-I

A. Social — IV. Teacher (enjoys helping, training, and developing people).

B. Conventional — III. Corporate Manager (structured, rule-oriented organizational tasks).

C. Investigative — II. Mathematician (analytical, intellectual, and observational problems).

D. Realistic — I. Mechanic (prefers practical, hands-on mechanical tasks with tools and machinery).
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Question 9
_____ is the result of the Bretton Wood Conference of nations held in 1944.
1. AWTO
2. BIMF
3. CIBRD
4. DADB
Accepted answers: (B) IMF, (C) IBRD
Explanation
The United Nations Monetary and Financial Conference held at Bretton Woods in July 1944 established the Bretton Woods twins, namely the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD).

B. IMF — established at Bretton Woods to manage global monetary stability and exchange rates.

C. IBRD — established at Bretton Woods to provide post-war reconstruction and development financing.

A. WTO — incorrect. The WTO succeeded GATT and was established in 1995 under the Marrakesh Agreement.

D. ADB — incorrect. The Asian Development Bank was established in 1966.
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Question 10
Arrange the following stages of conflict process in the proper sequence.

A. Outcomes
B. Potential opposition or incompatibility
C. Behaviour
D. Cognition and personalization
E. Intentions

Choose the correct answer from the options given below:
1. AD, B, E, C, A
2. BB, D, E, C, A
3. CA, B, E, D, C
4. DD, C, B, E, A
Answer: (B) B, D, E, C, A
Explanation
Stephen Robbins outlines the conflict process across five sequential stages:

B, D, E, C, A

Stage I: Potential opposition or incompatibility (B) — antecedent conditions that create opportunities for conflict.

Stage II: Cognition and personalization (D) — perceived conflict and felt conflict.

Stage III: Intentions (E) — decisions to act in a given way (competing, collaborating, compromising, avoiding, accommodating).

Stage IV: Behaviour (C) — overt statements, actions, and reactions.

Stage V: Outcomes (A) — functional or dysfunctional results.
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Question 11
Match List-I with List-II.
Financial Inclusion Yojana Year
A. PM Jan Dhan I. 2016
B. PM Mudra II. 2014
C. Stand Up India III. 2017
D. Vaya Vandana IV. 2015
1. AA-II, B-IV, C-I, D-III
2. BA-II, B-I, C-IV, D-III
3. CA-IV, B-I, C-III, D-II
4. DA-II, B-III, C-I, D-IV
Answer: (A) A-II, B-IV, C-I, D-III
Explanation
The launching years of major Indian financial inclusion initiatives are:

A-II, B-IV, C-I, D-III

A. PM Jan Dhan Yojana — II. 2014 (launched in August 2014 for universal banking access).

B. PM MUDRA Yojana — IV. 2015 (launched in April 2015 to fund micro and small enterprises).

C. Stand Up India — I. 2016 (launched in April 2016 to support SC, ST, and women entrepreneurs).

D. PM Vaya Vandana Yojana — III. 2017 (launched in May 2017 to provide pension security for senior citizens).
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Question 12
In which one of the following the effectiveness of brainstorming as group decision making technique is high?
1. ASocial Pressure
2. BTask Orientation
3. CPotential for interpersonal conflict
4. DMoney Costs
Answer: (B) Task Orientation
Explanation
In standard organizational behavior comparative evaluations of group decision techniques, brainstorming demonstrates high task orientation by focusing group members entirely on generating creative ideas without evaluation.

A. Social Pressure — low. The suspension of criticism mitigates evaluation apprehension.

B. Task Orientation — high. The structured focus is dedicated directly to generating solution ideas.

C. Potential for interpersonal conflict — low. Absence of debate and criticism prevents interpersonal friction.

D. Money Costs — low. Brainstorming requires no specialized software or complex meeting arrangements.
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Question 13
Which of the following are the disadvantages of Graphics rating scale as an appraisal tool?

A. Standards may be unclear
B. Halo Effect
C. Time consuming
D. Difficult to develop
E. Leniency

Choose the correct answer from the options given below:
1. AA, B, E Only
2. BA, B, C Only
3. CB, C, E Only
4. DA, C, D, E Only
Answer: (A) A, B, E Only
Explanation
Graphic rating scales are quick to develop and easy to administer, but they suffer from significant rater-subjectivity flaws.

A. Standards may be unclear — true. Subjective labels like "good" or "average" lack precise behavioral benchmarks.

B. Halo Effect — true. An overall impression of an employee biases individual dimension ratings.

E. Leniency — true. Raters frequently give uniformly generous evaluations to avoid conflict.

C and D — false. Graphic rating scales are inexpensive, fast to construct, and quick to complete, making them neither time-consuming nor difficult to develop.
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Question 14
Which one of the following is not a behavioral symptom of stress?
1. ALower Job Satisfaction
2. BLower Job Performance
3. CHigher Absenteeism
4. DHigher Labour Turnover
Answer: (A) Lower Job Satisfaction
Explanation
Stress symptoms are categorized into physiological, psychological, and behavioral dimensions.

A. Lower Job Satisfaction — psychological symptom. Emotional dissatisfaction, anxiety, irritability, and tension are affective psychological responses.

B. Lower Job Performance — behavioral symptom. Observable changes in output, productivity, and error rates.

C. Higher Absenteeism — behavioral symptom. Action-based withdrawal from work.

D. Higher Labour Turnover — behavioral symptom. Physical act of resigning and leaving the organization.
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Question 15
Which of the following tool is used for projecting supply of personnel?
1. ATrend Analysis
2. BRatio Analysis
3. CMarkov Analysis
4. DManagerial Judgement
Answer: (C) Markov Analysis
Explanation
Human resource planning uses separate quantitative techniques for forecasting personnel demand and internal personnel supply.

C. Markov Analysis — correct. A stochastic matrix tracking historical transition probabilities of employees moving between job levels, promotions, demotions, and exits to forecast future internal personnel supply.

A. Trend Analysis — demand forecasting tool based on historical employment levels over time.

B. Ratio Analysis — demand forecasting technique linking staffing needs to operational volume (e.g. sales to headcount).

D. Managerial Judgement — qualitative demand forecasting method based on managerial estimates.
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Question 16

Match List-I with List-II.

Concept	Explanation
A. Higher Indifference Curve	I. Higher Satisfaction
B. Converse Indifference Curve	II. Diminishing Marginal Rate of Substitution
C. Price Line	III. Same satisfaction on the curve
D. Indifference Curve	IV. Constant Price Ratio

AA-I, B-II, C-III, D-IV
BA-I, B-II, C-IV, D-III
CA-I, B-III, C-IV, D-II
DA-IV, B-II, C-III, D-I

Answer: (B) A-I, B-II, C-IV, D-III

Explanation

Consumer equilibrium and indifference curve principles map to their core properties as follows:

A-I, B-II, C-IV, D-III

A. Higher Indifference Curve — I. Higher Satisfaction (represents larger bundles of both goods).
B. Converse Indifference Curve — II. Diminishing Marginal Rate of Substitution (convexity to the origin reflects falling MRSxy).
C. Price Line — IV. Constant Price Ratio (the slope of the budget line is determined by the fixed relative market price ratio -Px/Py).
D. Indifference Curve — III. Same satisfaction on the curve (locus of commodity combinations yielding equal utility).

Question 17
Which of the following curves cannot be U-shaped?
1. AA.V.C Curve
2. BA.F.C Curve
3. CA.C. Curve
4. DM.C. Curve
Answer: (B) A.F.C Curve
Explanation
Average Fixed Cost (AFC) continually declines as output increases because a fixed overhead cost is spread over larger volumes of production.

AFC = Total Fixed Cost / Output

B. A.F.C Curve — correct. AFC forms a rectangular hyperbola that asymptotically approaches both axes and never turns upward.

A. A.V.C Curve — U-shaped due to the operation of the law of variable proportions.

C. A.C. Curve — U-shaped as the combined effect of initial falling AFC and later rising AVC.

D. M.C. Curve — U-shaped, declining initially and then rising sharply due to diminishing returns.
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Question 18
Arrange the following steps in logical sequence regarding how to compute Net Present Value (NPV).

A. Calculate Net Present Value (NPV) i.e. Present Value of all cash inflows - present value of all cash outflows
B. Calculate all the cash outflows associated with the project
C. Calculate all the cash inflows associated with the project
D. Calculate the present value of all cash inflows associated with the project
E. Calculate the present value of all cash outflows associated with the project

Choose the correct answer from the options given below:
1. AA, B, C, E, D
2. BB, C, E, D, A
3. CA, C, B, E, D
4. DA, C, B, D, E
Answer: (B) B, C, E, D, A
Explanation
The computation of Net Present Value proceeds through identifying un-discounted cash streams, discounting them to present values, and taking the difference:

B, C, E, D, A

B. Calculate all cash outflows — estimate initial and subsequent project capital expenditures.

C. Calculate all cash inflows — forecast operational post-tax cash flows over the project lifecycle.

E. Calculate present value of cash outflows — discount outflows using the cost of capital.

D. Calculate present value of cash inflows — discount inflows using the cost of capital.

A. Calculate Net Present Value (NPV) — subtract PV of outflows from PV of inflows.
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Question 19
Which of the following are taxes (GST) applicable in the case of supply of goods

I. From West Bengal to Chandigarh
II. From Puducherry to Chennai

Note: CGST: Central Goods and Services Tax
IGST : Integrated Goods and Services Tax
UTGST: Union territory Goods and Services Tax
SGST : State Goods and Services Tax
1. AI. CGST / II. IGST
2. BI. IGST / II. IGST
3. CI. UTGST / II. UTGST
4. DI. SGST / II. UTGST
Answer: (B) I. IGST / II. IGST
Explanation
Under Section 7 of the IGST Act, 2017, any supply of goods where the location of the supplier and the place of supply are in two different States, or a State and a Union Territory, is treated as an inter-State supply and attracts Integrated Goods and Services Tax (IGST).

Supply I (West Bengal to Chandigarh) — supply between a State and a Union Territory. This is an inter-State supply subject to IGST.

Supply II (Puducherry to Chennai) — supply between a Union Territory (with legislature) and a State (Tamil Nadu). This is an inter-State supply subject to IGST.
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Question 20

Match List-I with List-II.

LIST-I (Sections)	LIST-II (TDS)
A. Section 194 of the Income Tax Act, 1961	I. Payment on account of repurchase of units by mutual fund
B. Section 194C of the Income Tax Act, 1961	II. Payment to the non resident sportsman
C. Section 194E of the Income Tax Act, 1961	III. Payment to contractor and sub-contractor
D. Section 194F of the Income Tax Act, 1961	IV. Dividend

AA-IV, B-III, C-II, D-I
BA-I, B-II, C-III, D-IV
CA-I, B-III, C-II, D-IV
DA-III, B-IV, C-I, D-II

Answer: (A) A-IV, B-III, C-II, D-I

Explanation

Tax Deducted at Source (TDS) sections under the Income Tax Act, 1961 correspond to the following payment categories:

A-IV, B-III, C-II, D-I

A. Section 194 — IV. Dividend payments.
B. Section 194C — III. Payment to contractor and sub-contractor.
C. Section 194E — II. Payment to non-resident sportsmen or sports associations.
D. Section 194F — I. Payment on account of repurchase of units by mutual funds or UTI.

Question 21
What is the value of Standard Deviation of first seven natural numbers?
1. A√48
2. B2
3. C√8
4. D4
Answer: (B) 2
Explanation
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Question 22
Identify which of the following statements are True

A. Assessment Year means the period of 12 months commencing on the first day of April every year
B. Rounding off of total income is defined under section 288B of the Income Tax Act, 1961
C. Rounding off of tax is defined under section 288 A of the Income Tax Act, 1961
D. Assessee is always a person but a person may or may not be an assessed
E. A person may not have assessable income but may still be an assessed

Choose the correct answer from the options given below:
1. AB and C only
2. BA, D, E Only
3. CA, B, C Only
4. DB, C, D Only
Answer: (B) A, D, E Only
Explanation
Under the Income Tax Act, 1961 statutory definitions distinguish an assessee, tax rounding, and assessment periods.

A. Assessment Year definition — true. Section 2(9) defines assessment year as the 12-month period beginning 1st April.

D. Person versus assessee — true. Every assessee must be a person under Section 2(31), but a person without tax liability or proceedings is not an assessee.

E. Assessee without positive income — true. An individual sustaining a loss or a representative assessee is still an assessee.

B and C. Rounding off sections — false. Section 288A covers rounding off of total income and Section 288B covers rounding off of tax.
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Question 23
Arrange the following channels in the increasing order of value-addition of sales.

A. Retail Store
B. Sales force
C. Internet
D. Value-added partners
E. Distributors

Choose the correct answer from the options given below:
1. AA, E, C, D, B
2. BC, A, E, B, D
3. CC, A, E, D, B
4. DB, C, A, E, D
Answer: (C) C, A, E, D, B
Explanation
Philip Kotler's marketing channel framework ranks delivery channels along an ascending spectrum of transaction cost and value addition per sale:

C, A, E, D, B

C. Internet — lowest direct value-addition per transaction (standardized self-service digital catalog).

A. Retail Store — physical display, immediate possession, and basic merchant assistance.

E. Distributors — bulk handling, local inventory availability, and regional market reach.

D. Value-added partners — customized integration, technical consultation, and combined solution bundling.

B. Sales force — highest value-addition (high-touch relationship management, detailed solution engineering, and client-tailored negotiation).
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Question 24

Match List-I with List-II.

Statistical Test	Explanation
A. Z - Test	I. Tests the significance of the association between two attributes
B. Chi - Square	II. Compares the difference in the mean values of two independent sample groups (non- parametric data)
C. ANOVA	III. Tests the significance of the different between average of two large sized sample groups (Parametric data)
D. Mann- Whitney Test (U-test)	IV. Compares the difference in the mean values of more than two sample groups (Parametric data)

AA-I, B-II, C-III, D-IV
BA-III, B-I, C-IV, D-II
CA-II, B-III, C-I, D-IV
DA-IV, B-I, C-III, D-II

Answer: (B) A-III, B-I, C-IV, D-II

Explanation

Parametric and non-parametric statistical tests serve distinct analytical purposes:

A-III, B-I, C-IV, D-II

A. Z - Test — III. Tests the significance of the difference between averages of two large sized sample groups (parametric data, known or large-sample variance).
B. Chi - Square — I. Tests the significance of the association between two attributes (non-parametric test of independence).
C. ANOVA — IV. Compares the difference in the mean values of more than two sample groups (parametric data).
D. Mann-Whitney Test (U-test) — II. Compares the difference in the mean ranks of two independent sample groups (non-parametric alternative to independent two-sample t-test).

Question 25
Which of the following is a situation of adverse balance of trade?
1. AImport more than exports
2. BExports more than imports
3. CExports equal to imports
4. DExport Surplus
Answer: (A) Import more than exports
Explanation
Balance of Trade (BOT) measures the net merchandise balance between visible exports and visible imports.

Balance of Trade = Value of Visible Exports - Value of Visible Imports

A. Import more than exports — correct. When merchandise imports exceed merchandise exports, a trade deficit or adverse balance of trade occurs.

B. Exports more than imports — favorable or surplus balance of trade.

C. Exports equal to imports — balanced trade position.

D. Export Surplus — another term for favorable balance of trade.
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Question 26
Which of the following points are considered as essential characteristics of a Promissory Note?

A. It must be in writing
B. It must not contain an undertaking or promise to pay
C. The promise to pay must be conditional
D. A promissory note must be signed by the maker
E. Promise to pay money only

Choose the correct answer from the options given below:
1. AA, D and E Only
2. BA, B and E Only
3. CB, C and D Only
4. DB and D Only
Answer: (A) A, D and E Only
Explanation
Under Section 4 of the Negotiable Instruments Act, 1881, a promissory note is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money only to a certain person or to the bearer.

A. It must be in writing — true. Oral promises do not constitute a negotiable instrument.

D. Must be signed by the maker — true. Authentication by the maker's signature is mandatory.

E. Promise to pay money only — true. An instrument promising goods, commodities, or services cannot be a promissory note.

B and C — false. The note must contain an express undertaking (contradicting B) and the promise must be unconditional (contradicting C).
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Question 27

Match List-I with List-II.

Theory	Author(s)
A. Theory of Comparative Cost Advantage	I. Heckscher & Ohlin
B. Theory of Opportunity Cost	II. David Ricardo
C. Theory of Factor Endowment	III. Haberler
D. Theory of Absolute Advantage	IV. Adam Smith

AA-II, B-III, C-I, D-IV
BA-II, B-III, C-IV, D-I
CA-III, B-II, C-I, D-IV
DA-IV, B-III, C-II, D-I

Answer: (A) A-II, B-III, C-I, D-IV

Explanation

Foundational international trade theories match their originating economists as follows:

A-II, B-III, C-I, D-IV

A. Theory of Comparative Cost Advantage — II. David Ricardo (1817, Principles of Political Economy and Taxation).
B. Theory of Opportunity Cost — III. Gottfried Haberler (1936, production possibility curves).
C. Theory of Factor Endowment — I. Eli Heckscher & Bertil Ohlin (H-O model of relative factor abundance).
D. Theory of Absolute Advantage — IV. Adam Smith (1776, Wealth of Nations).

Question 28
Which of the following is a non-probability method of selecting sample from a population?
1. ASimple Random Sampling
2. BMulti Stage Sampling
3. CCluster Sampling
4. DSnow Ball Sampling
Answer: (D) Snow Ball Sampling
Explanation
Sampling techniques are classified into probability designs (where every population element has a known, non-zero chance of selection) and non-probability designs (where selection relies on researcher discretion or referral networks).

D. Snow Ball Sampling — correct. A non-probability referral sampling method where existing study subjects recruit future subjects from among their acquaintances, useful for hidden or hard-to-reach populations.

A. Simple Random Sampling — basic probability sampling method.

B. Multi Stage Sampling — complex probability sampling design using sequential sampling stages.

C. Cluster Sampling — probability sampling technique selecting entire intact geographical or institutional groups.
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Question 29
Which of the following points are considered as salient features of Limited Liability Partnership (LLP)?

A. LLP is a body corporate
B. LLP is a legal entity separate from its partners
C. LLP does not enjoy a perpetual succession
D. Partners of LLP have unlimited liability
E. LLP is an artificial legal person

Choose the correct answer from the options given below:
1. AA, B and E Only
2. BB, C and D Only
3. CC, D and E Only
4. DC and D Only
Answer: (A) A, B and E Only
Explanation
Under the Limited Liability Partnership Act, 2008, an LLP combines corporate limited liability with partnership operational flexibility.

A. Body corporate — true. Section 3(1) designates an LLP as a body corporate formed and incorporated under the Act.

B. Separate legal entity — true. An LLP has distinct legal personality separate from its partners.

E. Artificial legal person — true. It can hold property, enter contracts, and sue or be sued in its own name.

C and D — false. An LLP enjoys perpetual succession regardless of changes in partners (negating C), and partners enjoy limited liability restricted to their agreed capital contributions (negating D).
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Question 30
Total production is maximum when
1. AAverage production is maximum
2. BMarginal production is maximum
3. CMarginal production is zero
4. DAverage production is zero
Answer: (C) Marginal production is zero
Explanation
In short-run production analysis under the law of variable proportions, the mathematical derivative of total product with respect to the variable input is marginal product.

Marginal Product (MP) = d(TP) / dL

C. Marginal production is zero — correct. Total production reaches its mathematical maximum when its rate of change (marginal product) equals zero.

A. Average production is maximum — occurs earlier where AP equals MP.

B. Marginal production is maximum — marks the inflection point of the total product curve.

D. Average production is zero — occurs only at zero output levels.
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Question 31
Which one of the following consists of comparing entries in the books of account with documentary evidence in support thereof.
1. AInternal check
2. BInternal control
3. CVouching
4. DVerification
Answer: (C) Vouching
Explanation
Auditing procedures maintain distinct operational definitions for examining transactional records versus balance sheet assets.

C. Vouching — correct. Defined by auditing standards as the examination by an auditor of documentary evidence (invoices, receipts, vouchers, contracts) supporting book entries.

A. Internal check — an operational arrangement of bookkeeping duties whereby one employee's work is automatically verified by another.

B. Internal control — the overall system of financial and operational controls instituted by management.

D. Verification — proving the actual existence, legal ownership, valuation, and encumbrance of assets and liabilities appearing on the balance sheet.
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Question 32

Match List-I with List-II.

Key definition Under IT Act 2000	Sections
A. Addressee	I. Section 2(1)(f) of the Information Technology Act 2000
B. Adjudicating Officer	II. Section 2(1)(d) of the Information Technology Act 2000
C. Affixing Electronic Signature	III. Section 2(1)(c) of the Information Technology Act 2000
D. Asymmetric Crypto System	IV. Section 2(1)(b) of the Information Technology Act 2000

AA-IV, B-III, C-II, D-I
BA-III, B-IV, C-I, D-II
CA-II, B-I, C-III, D-IV
DA-I, B-II, C-III, D-IV

Answer: (A) A-IV, B-III, C-II, D-I

Explanation

Statutory definitions under Section 2(1) of the Information Technology Act, 2000 correspond to the following clauses:

A-IV, B-III, C-II, D-I

A. Addressee — IV. Section 2(1)(b) of the Information Technology Act 2000 (person intended by the originator to receive the electronic record).
B. Adjudicating Officer — III. Section 2(1)(c) of the Information Technology Act 2000 (officer appointed under Section 46).
C. Affixing Electronic Signature — II. Section 2(1)(d) of the Information Technology Act 2000.
D. Asymmetric Crypto System — I. Section 2(1)(f) of the Information Technology Act 2000 (secure key pair system generating public and private keys).

Question 33
Current assets are Rs 4,00,000
Inventories are Rs 2,00,000
Working capital is Rs 2,40,000
Calculate Current Ratio.
1. A2 : 1
2. B2.5 : 1
3. C1.5 : 1
4. D1 : 2
Answer: (B) 2.5 : 1
Explanation
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Question 34
Which of the following are True for a random variable?

A. A random variable is a certain quantity, whose value depends on chance
B. A continuous random variable can assume at most two countable number of values
C. A discrete random variable can assume at most a countable number of values
D. A random variables is a function of the simple space
E. A random variables is a uncertain quantity, whose value depends on chance

Choose the correct answer from the options given below:
1. AA, B, D Only
2. BA, B, C Only
3. CB, C, D Only
4. DC, D, E Only
Answer: (D) C, D, E Only
Explanation
In statistical probability theory, a random variable is mathematically defined on an underlying sample space.

C. Discrete random variable values — true. A discrete random variable takes values in a finite or countably infinite set.

D. Function of the sample space — true. A random variable is formally a real-valued mapping from the elements of the sample space into real numbers.

E. Uncertain quantity — true. It represents an uncertain numerical outcome determined by chance experiments.

A and B — false. A random variable is not a certain quantity (contradicting A), and a continuous random variable takes uncountably infinite values within an interval (contradicting B).
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Question 35
Match List-I with List-II.
INSTITUTION YEAR OF ESTABLISHMENT
A. UNCTAD I. 1967
B. WTO II. 1994
C. NAFTA III. 1964
D. ASEAN IV. 1995
1. AA-I, B-II, C-III, D-IV
2. BA-III, B-IV, C-II, D-I
3. CA-I, B-III, C-IV, D-II
4. DA-I, B-II, C-IV, D-III
Answer: (B) A-III, B-IV, C-II, D-I
Explanation
Major international economic and trade organizations were established in the following years:

A-III, B-IV, C-II, D-I

A. UNCTAD — III. 1964 (established as a permanent intergovernmental body of the UN General Assembly).

B. WTO — IV. 1995 (came into operation on 1 January 1995 following the Marrakesh Agreement).

C. NAFTA — II. 1994 (entered into force on 1 January 1994 among Canada, Mexico, and the United States).

D. ASEAN — I. 1967 (established on 8 August 1967 with the signing of the Bangkok Declaration).
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Question 36
Match List-I with List-II.
ECONOMISTS CONTRIBUTION
A. Adam Smith I. Principles of Economics
B. A. Marshall II. Value and Capital
C. J.R. Hicks III. The Wealth of Nations
D. Wassily Leontief IV. Input Output Economics
1. AA-I, B-III, C-II, D-IV
2. BA-I, B-II, C-IV, D-III
3. CA-III, B-I, C-II, D-IV
4. DA-III, B-II, C-I, D-IV
Answer: (C) A-III, B-I, C-II, D-IV
Explanation
Prominent economic treatises match their respective authors as follows:

A-III, B-I, C-II, D-IV

A. Adam Smith — III. The Wealth of Nations (1776 classic on the division of labor and market mechanics).

B. Alfred Marshall — I. Principles of Economics (1890 seminal work establishing neoclassical partial equilibrium and elasticity).

C. J.R. Hicks — II. Value and Capital (1939 work developing indifference curve analysis and general equilibrium theory).

D. Wassily Leontief — IV. Input Output Economics (Nobel prize-winning work on inter-industry input-output analysis).
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Question 37
Arrange the following management research questions in the ascending order.

A. Management Question
B. Measurement Question
C. Management dilemma
D. Research Question
E. Investigative Question

Choose the correct answer from the options given below:
1. AC, A, B, D, E
2. BC, A, D, E, B
3. CA, C, D, E, B
4. DB, C, A, D, E
Answer: (B) C, A, D, E, B
Explanation
Cooper and Schindler's research question hierarchy outlines five sequential stages moving from broad managerial dilemma to specific survey measurement items:

C, A, D, E, B

C. Management dilemma — the operational symptom or business problem triggering inquiry.

A. Management Question — translation of the dilemma into a concrete managerial decision choice.

D. Research Question — academic hypotheses and conceptual exploration of the problem dimensions.

E. Investigative Question — specific questions the researcher must answer to resolve each research question.

B. Measurement Question — the exact instrument questions put to survey respondents.
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Question 38
Which of the following statements are true regarding admission of a new partner?

A. According to section 25 of the Indian Partnership Act, 1932, a person can be admitted as partner
B. New Profit - sharing ratio is the ratio in which all partners, including new partners, will share future profits and loses of the firm
C. New Profit Share = Profit Share Sacrificed - Old Profit Share
D. Sacrificing Ratio = Old Profit Share - New Profit Share
E. The Profit or loss which arises from Revaluation Account will be transferred to partner's capital account

Choose the correct answer from the options given below:
1. AB, D and E Only
2. BA, B and C Only
3. CB, C and D Only
4. DC, D and E Only
Answer: (A) B, D and E Only
Explanation
Partnership accounting and statutory rules govern admission of an incoming partner:

B. New profit-sharing ratio — true. It specifies the proportions in which existing and new partners divide future gains and losses.

D. Sacrificing ratio — true. Existing partners surrender a portion of their share calculated as Old Profit Share minus New Profit Share.

E. Revaluation account distribution — true. The net revaluation gain or loss belongs to existing partners and is credited or debited to their capital accounts in the old profit-sharing ratio.

A and C — false. Section 31 (not Section 25) governs admission of a partner, and New Profit Share equals Old Share minus Sacrificed Share (not Sacrificed minus Old).
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Question 39
Which of the following are the features of Treasury Bills?

A. Negotiable Securities
B. Issued at par and are repaid at premium on maturity
C. High liquidity on account of short tenure
D. Assured Yield
E. High transaction cost

Choose the correct answer from the options given below:
1. AA, B, E Only
2. BA, C, D Only
3. CB, C, D Only
4. DA, C, D, E Only
Answer: (B) A, C, D Only
Explanation
Treasury Bills (T-Bills) are sovereign money-market debt instruments issued by the Government of India.

A. Negotiable Securities — true. T-Bills are freely transferable money-market instruments issued in the form of promissory notes.

C. High liquidity — true. Their short tenors (91, 182, 364 days) and active secondary market provide high liquidity.

D. Assured Yield — true. Backed by sovereign guarantee, they carry zero default risk and a guaranteed return.

B and E — false. T-Bills are zero-coupon instruments issued at a discount and redeemed at par (negating B), and they carry negligible transaction costs (negating E).
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Question 40
A proposal requires a cash outflow of ₹18,500 and is expected to generate cash inflows of ₹8,000, ₹6,000, ₹4,000, ₹2,000 and ₹2,000 over next 5 years respectively. The payback period is
1. A4 Years
2. B3.25 Years
3. C3.50 Years
4. D4.25 Years
Answer: (B) 3.25 Years
Explanation
Payback period calculates the time required to recover the initial project outlay from cumulative annual cash inflows.

Cumulative Cash Inflows:
Year 1: ₹8,000
Year 2: ₹8,000 + ₹6,000 = ₹14,000
Year 3: ₹14,000 + ₹4,000 = ₹18,000

At the end of Year 3, ₹500 remains unrecovered (₹18,500 - ₹18,000).
Year 4 Cash Inflow = ₹2,000
Fraction of Year 4 needed = 500 / 2,000 = 0.25 years

Payback Period:
Payback Period = 3 + 0.25 = 3.25 Years
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Question 41

Match List-I with List-II.

LIST-I Product Life Cycle (PLC) Stage	LIST-II Distribution Strategy
A. Introduction	I. Phase out unprofitable outlets
B. Growth	II. Build Selective distribution
C. Maturity	III. Build intensive distribution
D. Decline	IV. Build more intensive distribution

AA-III, B-II, C-IV, D-I
BA-III, B-II, C-I, D-IV
CA-II, B-III, C-IV, D-I
DA-IV, B-III, C-I, D-II

Answer: (C) A-II, B-III, C-IV, D-I

Explanation

Philip Kotler outlines targeted distribution strategies across Product Life Cycle (PLC) stages:

A-II, B-III, C-IV, D-I

A. Introduction — II. Build Selective distribution (focused channel seeding while consumer awareness is created).
B. Growth — III. Build intensive distribution (rapid market penetration and extensive retail presence).
C. Maturity — IV. Build more intensive distribution (maximizing market defense and shelf space against competing substitutes).
D. Decline — I. Phase out unprofitable outlets (pruning distributor networks to preserve margins).

Question 42
Which of the following are the assumptions of the oligopoly?

A. One seller and large number of buyers
B. A few sellers and large number of buyers
C. Large number of sellers and large number of buyer
D. Entry of new seller is restricted
E. Firms Interdependence

Choose the correct answer from the options given below:
1. AC, D, E Only
2. BA, B, C Only
3. CB, D, C Only
4. DB, D, E Only
Answer: (D) B, D, E Only
Explanation
Oligopoly represents an imperfect market structure dominated by a small group of rival producers.

B. Few sellers and large number of buyers — true. The market supply is controlled by a handful of large enterprises.

D. Restricted entry of new sellers — true. Substantial capital, patent, or scale barriers restrict free entry.

E. Interdependence among firms — true. Strategic pricing and output actions by one firm prompt immediate reactions from rivals.

A and C — false. A single seller characterizes monopoly, while a large number of sellers characterizes perfect competition or monopolistic competition.
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Question 43
Arrange the following point (Section wise from Section 14 to 18) of the Indian Contract Act

A. Definition of free consent
B. Misrepresentation
C. Fraud
D. Undue influence
E. Coercion

Choose the correct answer from the options given below:
1. AE, D, C, B, A
2. BD, E, C, A, B
3. CB, D, E, A, C
4. DA, E, D, C, B
Answer: (D) A, E, D, C, B
Explanation
Sections 14 through 18 of the Indian Contract Act, 1872 define free consent and factors vitiating consent in exact sequential order:

A, E, D, C, B

A. Section 14 — Free Consent defined (consent free from coercion, undue influence, fraud, misrepresentation, or mistake).

E. Section 15 — Coercion defined.

D. Section 16 — Undue Influence defined.

C. Section 17 — Fraud defined.

B. Section 18 — Misrepresentation defined.
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Question 44
Arrange the prefatory information of report writing in a logical sequence.

A. Executive Summary
B. Authorization Statement
C. Title Page
D. Letter of transmittal
E. Table of Contents

Choose the correct answer from the options given below:
1. AA, B, C, D, E
2. BC, D, E, B, A
3. CD, C, B, A, E
4. DD, B, C, E, A
Answer: (C) D, C, B, A, E
Explanation
Standard formal business and research report prefatory sections follow this conventional order:

D, C, B, A, E

D. Letter of transmittal — introduces the report and formally conveys it to the authorizing client.

C. Title Page — displays the official title, author details, organization, and submission date.

B. Authorization Statement — specifies the management charter, terms of reference, and project sponsorship.

A. Executive Summary — provides a concise synthesis of findings, conclusions, and strategic recommendations.

E. Table of Contents — lists document headings, subsections, and page numbers for navigational access.
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Question 45
Quasi contracts are based on the doctrine of
1. AUnjust enrichment
2. BJust enrichment
3. CUnjust Richment
4. DMisrepresentation
Answer: (A) Unjust enrichment
Explanation
Quasi-contracts (governed by Sections 68 through 72 of the Indian Contract Act, 1872) are legal obligations imposed by law in the absence of a formal agreement.

A. Unjust enrichment — correct. The foundation of quasi-contractual obligations is the Roman and common law equitable principle of nemo debet locupletari ex aliena jactura (no person should enrich himself unjustly at the expense of another).

B, C, and D — incorrect. "Just enrichment" and "Unjust Richment" are spurious formulations, and misrepresentation is a vitiating factor under Section 18 rather than a basis for quasi-contracts.
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Question 46
Identify correct statements from the following regarding Time Value of money.

A. The interest which may be earned/saved on the money held at present underlines the concept of time value of money
B. The money which is receivable at present has less value than the money receivable in future
C. The relationship that exists between the value of money receivable at present and the value of money receivable in future is referred as time value of the money
D. Value of money receivable at present = value of money receivable in future - Time value of money
E. Future value of money is the value of money held presently at some given future time at a given rate of Interest

Choose the correct answer from the options given below:
1. AB and D Only
2. BA, C and E Only
3. CB, C and D Only
4. DC, D and E Only
Answer: (B) A, C and E Only
Explanation
The time value of money concept reflects that a rupee received today is worth more than a rupee received tomorrow due to earning power, inflation, and uncertainty.

A. Interest earning potential — true. Capital invested today generates compounding returns over time.

C. Present versus future value relationship — true. It defines the mathematical bridge linking present cash streams to future equivalents.

E. Future value definition — true. FV represents the accumulated terminal sum of current capital compounded at an interest rate over time.

B — false. Present money has higher (not less) purchasing and investment power than future money.

D — false. Present value involves discounting, not simple subtraction.
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Question 47

Match List-I with List-II.

Conflict Handling intentions	Description
A. Competing	I. A situation in which each party in a conflict desires to satisfy fully the concerns of all parties.
B. Collaborating	II. The willingness of one party in a conflict to place the negotiating partners interest above their own.
C. Accommodating	III. A situation in which each party to a conflict is willing to give up something to resolve the conflict.
D. Compromising	IV. A desire to satisfy one's interests regardless of the impact on the other party to the conflict.

AA-I, B-IV, C-II, D-III
BA-IV, B-I, C-II, D-III
CA-IV, B-I, C-III, D-II
DA-IV, B-II, C-I, D-III

Answer: (B) A-IV, B-I, C-II, D-III

Explanation

Kenneth Thomas and Ralph Kilmann's conflict handling styles model modes based on assertiveness and cooperativeness:

A-IV, B-I, C-II, D-III

A. Competing — IV. A desire to satisfy one's interests regardless of the impact on the other party (assertive and uncooperative).
B. Collaborating — I. A situation in which each party in a conflict desires to satisfy fully the concerns of all parties (assertive and cooperative, seeking win-win).
C. Accommodating — II. The willingness of one party in a conflict to place the negotiating partner's interest above their own (unassertive and cooperative).
D. Compromising — III. A situation in which each party to a conflict is willing to give up something to resolve the conflict (mid-range assertiveness and cooperativeness).

Question 48
Which one of the following refers to the firms investment in the current assets?
1. AGross Working Capital
2. BNet Working Capital
3. CGross Current liabilities
4. DOperating cycle
Answer: (A) Gross Working Capital
Explanation
Working capital concepts distinguish between gross asset investment and net financing requirements.

A. Gross Working Capital — correct. Refers to the total capital invested in all short-term operational current assets (cash, receivables, inventory, prepaid expenses).

B. Net Working Capital — the excess of current assets over current liabilities (Current Assets minus Current Liabilities).

C. Gross Current liabilities — the aggregate short-term commitments due within twelve months.

D. Operating cycle — the time duration between the acquisition of raw materials and final cash realization from sales.
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Question 49
Arrange the following points in their section-wise order (Section 23 to 27) as per the Income Tax Act, 1961

A. Deemed ownership
B. Provision for arrears of rent and unrealized rent received subsequently
C. Determination of annual value
D. Treatment of income from co-owned property
E. Deduction from (Annual Value) Income from house property

Choose the correct answer from the options given below:
1. AA, C, B, D, E
2. BC, E, B, D, A
3. CA, B, C, D, E
4. DB, C, D, E, A
Answer: (B) C, E, B, D, A
Explanation
Provisions governing 'Income from House Property' under the Income Tax Act, 1961 are arranged across Sections 23 to 27 in this statutory order:

C, E, B, D, A

C. Section 23 — Determination of annual value.

E. Section 24 — Deductions from income from house property (standard 30% deduction and interest on borrowed capital).

B. Section 25A — Special provision for arrears of rent and unrealized rent received subsequently.

D. Section 26 — Property owned by co-owners.

A. Section 27 — Deemed ownership provisions.
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Question 50
Match List-I with List-II.
Act Year
A. Indian Contract Act I. 2013
B. Sales of Goods Act II. 1872
C. Negotiable Instruments Act III. 1930
D. Companies Act IV. 1881
1. AA-II, B-III, C-IV, D-I
2. BA-I, B-II, C-III, D-IV
3. CA-IV, B-III, C-II, D-I
4. DA-III, B-IV, C-I, D-II
Answer: (A) A-II, B-III, C-IV, D-I
Explanation
Major commercial and corporate statutes in India were enacted in the following years:

A-II, B-III, C-IV, D-I

A. Indian Contract Act — II. 1872.

B. Sales of Goods Act — III. 1930.

C. Negotiable Instruments Act — IV. 1881.

D. Companies Act — I. 2013.
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Question 51

Match List-I with List-II.

Accounting Concept & Convention	Meaning
A. Conservatism	I. Use of same accounting policies by a firm from period to period
B. Dual aspect	II. Enterprise is treated as separate from owner and other persons associated with it
C. Separate Business entity	III. Every transaction has a two - fold effect
D. Consistency	IV. Anticipate no profit, but provide for all possible losses

AA-IV, B-III, C-II, D-I
BA-I, B-II, C-III, D-IV
CA-II, B-III, C-I, D-IV
DA-III, B-IV, C-I, D-II

Answer: (A) A-IV, B-III, C-II, D-I

Explanation

Fundamental accounting concepts and conventions govern the preparation of financial statements:

A-IV, B-III, C-II, D-I

A. Conservatism — IV. Anticipate no profit, but provide for all possible losses (prudence convention).
B. Dual aspect — III. Every transaction has a two-fold effect (Assets = Liabilities + Capital).
C. Separate Business entity — II. Enterprise is treated as separate from owner and other persons associated with it.
D. Consistency — I. Use of same accounting policies by a firm from period to period.

Question 52
Which of the following points are considered as factors determinating the working capital of a firm?

A. Basic nature of Business
B. Business cycle fluctuations
C. Credit Policy of the firm
D. Long term source of finance
E. Employee Skills

Choose the correct answer from the options given below:
1. AA, B and D Only
2. BB, C and D Only
3. CA, B and C Only
4. DD and E Only
Answer: (C) A, B and C Only
Explanation
Working capital requirements are determined by the operational dynamics and commercial policies of a business enterprise.

A. Basic nature of business — trading and service firms require less working capital than manufacturing concerns with long production cycles.

B. Business cycle fluctuations — inflationary expansion requires larger working capital to maintain inventory and receivables.

C. Credit policy of the firm — liberal terms granted to debtors expand accounts receivable, demanding more working capital.

D and E — long-term financing sources shape permanent capital structure, and employee skills represent human capital rather than circulating capital determinants.
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Question 53
Arrange the following steps in the proper sequence to develop effective marketing communication.

A. Design the communication
B. Select the communication channel
C. Identify the target audience
D. Choose the communication mix
E. Choose the communication objectives

Choose the correct answer from the options given below:
1. AE, A, C, B, D
2. BC, A, B, D, E
3. CE, B, C, A, D
4. DC, E, A, B, D
Answer: (D) C, E, A, B, D
Explanation
Philip Kotler outlines the systematic process for developing effective integrated marketing communications in this order:

C, E, A, B, D

C. Identify the target audience — define customer segments, current users, or potential decision makers.

E. Choose the communication objectives — establish response goals (awareness, knowledge, liking, preference, conviction, or purchase).

A. Design the communication — create the message strategy, creative appeal, and source structure.

B. Select the communication channel — determine personal versus non-personal media vehicles.

D. Choose the communication mix — allocate the promotional budget across advertising, sales promotion, PR, events, direct marketing, and personal selling.
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Question 54
Standard Deviation of Sampling Distribution is called
1. ASampling Error
2. BProbable Error
3. CStandard Error
4. DMeasurable Error
Answer: (C) Standard Error
Explanation
In statistical inference, the probability distribution of a sample statistic across repeated random samples is the sampling distribution.

Standard Error (SE) = Population Standard Deviation / √(Sample Size)

C. Standard Error — correct. The standard deviation of the sampling distribution of any estimator (such as the sample mean or sample proportion) is defined as the Standard Error.

A. Sampling Error — the numerical difference between the sample statistic and the true population parameter.

B. Probable Error — an older measure of precision equal to 0.6745 times the standard error.

D. Measurable Error — a generic descriptive term for identifiable observational discrepancies.
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Question 55
If new contract is substituted in place of an existing contract, it is called
1. AWaiver
2. BRemission
3. CNovation
4. DAlteration
Answer: (C) Novation
Explanation
Section 62 of the Indian Contract Act, 1872 governs contracts in which the parties agree to novation, rescission, and alteration.

C. Novation — correct. Occurs when a new contract is substituted for an existing one, extinguishing the original contractual liabilities either between the same parties or between differing parties.

A. Waiver — intentional relinquishment or abandonment of an existing legal right without substituting a contract.

B. Remission — acceptance of a lesser sum or lesser performance than what was originally promised under Section 63.

D. Alteration — modification of one or more terms of an existing contract without creating a brand new contract.
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Question 56
The Capital Adequacy Ratio (CAR) for Indian Public Sector banks set by RBI is :
1. A9 %
2. B10 %
3. C11 %
4. D12 %
Answer: (A) 9 %
Explanation
Under the Reserve Bank of India's Basel III regulatory framework, Indian banks are held to capital standards exceeding international Basel Committee baselines.

Capital Adequacy Ratio (CAR) = (Tier I Capital + Tier II Capital) / Risk-Weighted Assets

A. 9 % — correct. RBI mandates a minimum Capital to Risk-Weighted Assets Ratio (CRAR) of 9% for Scheduled Commercial Banks including Public Sector Banks, compared to the global Basel minimum of 8%.

B, C, and D — incorrect. While total capital with Capital Conservation Buffer reaches 11.5%, the core regulatory minimum baseline CAR is 9%.
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Question 57
Arrange the following Institutions in ascending order of their year of establishment.

A. SEBI
B. Reserve Bank of India
C. State Bank of India
D. SIDBI
E. NABARD

Choose the correct answer from the options given below:
1. AC, B, E, A, D
2. BB, C, E, D, A
3. CB, C, A, E, D
4. DE, B, C, D, A
Answer: (B) B, C, E, D, A
Explanation
The establishment years of these premier financial institutions arranged in ascending chronological order are:

B, C, E, D, A

B. Reserve Bank of India (RBI) — established on 1 April 1935 under the Reserve Bank of India Act, 1934.

C. State Bank of India (SBI) — established on 1 July 1955 through the nationalization of the Imperial Bank of India under the SBI Act, 1955.

E. NABARD — established on 12 July 1982 under the NABARD Act, 1981 to promote rural development.

D. SIDBI — established on 2 April 1990 under the Small Industries Development Bank of India Act, 1989.

A. SEBI — established as an autonomous statutory regulatory body on 30 January 1992 via the SEBI Act, 1992.
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Question 58
Which of the following are true for Skewness

A. It is a measure of symmetry of a frequency distribution.
B. For the right-skewed distribution, the mean is to be to the right of median.
C. For the right-skewed distribution, the mean is to be to the right of mode.
D. For the right-skewed distribution, the mean is to be to the left of median.
E. For the right-skewed distribution, the mean is to be to the left of mode.

Choose the correct answer from the options given below:
1. AA, B, C Only
2. BA, C, D Only
3. CA, D, E Only
4. DA, B, D Only
Answer: (A) A, B, C Only
Explanation
Skewness evaluates the direction and degree of asymmetry in a statistical distribution.

In a positively skewed (right-skewed) distribution:
Mean > Median > Mode

A. Measure of symmetry — true. Skewness quantifies the departure of a distribution from perfect symmetry.

B. Mean to the right of median — true. Extreme values in the right tail pull the arithmetic mean above the median.

C. Mean to the right of mode — true. The mean exceeds the mode, positioning it to the right on the horizontal axis.

D and E — false. These describe a left-skewed (negatively skewed) distribution where Mean < Median < Mode.
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Question 59
Arrange the organizational aspect of employees need hierarchy in the increasing order.

A. Cohesive and supportive co-workers
B. Work place conditions
C. Work safety
D. Responsibilities
E. Job Challenge

Choose the correct answer from the options given below:
1. AC, B, D, A, E
2. BB, C, A, D, E
3. CA, C, B, E, D
4. DB, A, C, D, E
Answer: (B) B, C, A, D, E
Explanation
Abraham Maslow's hierarchy of human needs translates into corresponding organizational facets arranged from lower-order to higher-order levels:

B, C, A, D, E

B. Workplace conditions — physiological level (basic physical amenities, clean working space, and baseline comfort).

C. Work safety — safety and security level (job protection, safe equipment, and tenure).

A. Cohesive and supportive co-workers — social and belongingness level (interpersonal rapport, peer bonding, and team acceptance).

D. Responsibilities — esteem level (managerial autonomy, formal delegation, recognition, and status).

E. Job Challenge — self-actualization level (creative problem-solving, intellectual mastery, and realization of potential).
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Question 60
“To what degree will there be rules and regulations to direct employees and managers” is defined as
1. ADepartmentalization
2. BCentralization and decentralization
3. CFormalization
4. DBoundary Spanning
Answer: (C) Formalization
Explanation
In classic organizational theory (Stephen Robbins), structural design is defined across six foundational dimensions:

C. Formalization — correct. The explicit degree to which jobs, duties, procedures, and supervisory directives within an organization are standardized and governed by written rules and manuals.

A. Departmentalization — the basis by which jobs and functions are grouped together.

B. Centralization and decentralization — the degree to which decision-making authority is concentrated at a single point in the enterprise.

D. Boundary Spanning — the activity of creating relationships and exchanges with outside organizations and units.
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Question 61
Identify, which of the following statements are True.

A. Commuted pension received by a government employee is fully exempted from Income Tax
B. Section 30 of the Income Tax Act 1961 discusses deduction in respect of rent, rates, taxes, repairs and insurance of building used by the assessee for the purpose of business
C. Section 33 of the Income Tax Act 1961, defines provision regarding depreciation of tangible assets
D. Capital gain arises from transfer of any assets
E. Short term Capital assets is defined under section 2(42A) of the Income Tax Act 1961

Choose the correct answer from the options given below:
1. AA, B, and E Only
2. BC, D and E only
3. CA and B only
4. DC and D only
Answer: (A) A, B, and E Only
Explanation
Provisions of the Income Tax Act, 1961 delineate exemptions, business deductions, and capital asset classifications:

A. Commuted pension exemption — true. Section 10(10A)(i) provides 100% exemption for commuted pension received by government employees.

B. Section 30 building deduction — true. Section 30 allows deductions for rent, rates, taxes, repairs, and insurance for business premises.

E. Short-term capital asset — true. Section 2(42A) defines short-term capital assets based on holding periods.

C — false. Section 32 (not Section 33) provides for depreciation of tangible and intangible assets.

D — false. Capital gain arises specifically from the transfer of a "capital asset" as defined under Section 2(14), which excludes personal effects and stock-in-trade.
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Question 62
Which of the following is correct?
1. AA firm under perfect competition is in equilibrium where AR = MR
2. BA firm under monopoly is in equilibrium where TR = MR
3. CA firm under monopolistic competition is in equilibrium where AC = MC
4. DA firm under oligopoly is in equilibrium where MR = MC
Answer: (D) A firm under oligopoly is in equilibrium where MR = MC
Explanation
Across all market structures (perfect competition, monopoly, monopolistic competition, and oligopoly), the universal first-order profit-maximization rule requires equality between marginal revenue and marginal cost.

Equilibrium Condition: MR = MC

D. Oligopoly equilibrium where MR = MC — correct. The firm maximizes profit where MR equals MC, provided the MC curve cuts the MR curve from below.

A. Perfect competition where AR = MR — describes horizontal demand under price-taking conditions, not the output equilibrium condition.

B. Monopoly where TR = MR — incorrect. TR equals MR only at the very first unit of output.

C. Monopolistic competition where AC = MC — represents minimum average cost, not profit-maximizing firm equilibrium.
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Question 63
According to Job characteristics model, the psychological state of an experienced meaningfulness of the work is due to the following core job dimensions -

A. Autonomy
B. Skill Variety
C. Task Identity
D. Feedback
E. Task Significance

Choose the correct answer from the options given below:
1. AA, B, D Only
2. BB, C, E Only
3. CA, C, E Only
4. DA, B, D, E Only
Answer: (B) B, C, E Only
Explanation
Hackman and Oldham's Job Characteristics Model specifies that five core job dimensions lead to three critical psychological states:

Experienced Meaningfulness of the Work — produced jointly by Skill Variety (B), Task Identity (C), and Task Significance (E).

Experienced Responsibility for Work Outcomes — produced by Autonomy (A).

Knowledge of the Actual Results of Work — produced by Job Feedback (D).

Therefore, experienced meaningfulness is generated by B, C, and E Only.
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Question 64
When all the factors of production are changed in same proportion, it is called as;

A. Long run production function
B. Law of equal proportion
C. Law of return to scale
D. Law of return to a factor
E. Law of Variable proportion

Choose the correct answer from the options given below:
1. AA, B, C Only
2. BB, C, D Only
3. CC, D, E Only
4. DA, C, E Only
Answer: (A) A, B, C Only
Explanation
When all productive inputs vary simultaneously in identical proportions, production analysis enters the long run where no factor remains fixed.

A. Long run production function — in the long run, scale changes rather than factor proportions.

B. Law of equal proportion — all factors change by an equal factor multiplier.

C. Law of return to scale — studies output responsiveness when all inputs increase in equal proportion.

D and E — short-run concepts where variable inputs change against fixed factor constraints.
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Question 65
Bret Lee, an Australian cricket player visits India for 100 days in every financial year. This has been his practice for the past 10 financial Years. Find out his residential status for the assessment Year 2023-24.
1. AResident in India
2. BResident and ordinarily resident in India
3. CResident but not ordinarily resident in India
4. DNon- resident in India
Answer: (C) Resident but not ordinarily resident in India
Explanation
Residential status under Section 6 of the Income Tax Act, 1961 for Assessment Year 2023-24 (Previous Year 2022-23):

Basic Condition (Section 6(1)):

Days in India during PY 2022-23 = 100 days (satisfies 60 days minimum).

Days in India during 4 preceding PYs (2018-19 to 2021-22) = 4 * 100 = 400 days (satisfies 365 days minimum).
Since this basic condition is satisfied, the individual is a Resident in India.

Additional Conditions for Ordinary Residence (Section 6(6)):

Resident in at least 2 out of 10 preceding previous years: Satisfied.

In India for 730 days or more during 7 preceding previous years:
Days in India in 7 preceding years = 7 * 100 = 700 days.
Because 700 is less than 730 days, the second additional condition is not satisfied.

Therefore, the status is Resident but Not Ordinarily Resident (RNOR).
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Question 66
Which one of the following sections of the Income Tax Act, 1961 defines method for computing Arm Length Price?
1. A90 C
2. B91 C
3. C92 C
4. D93 C
Answer: (C) 92 C
Explanation
Under the transfer pricing regime of the Income Tax Act, 1961:

C. Section 92C — correct. Prescribes statutory methods for computing the Arm's Length Price in international transactions (Comparable Uncontrolled Price, Resale Price, Cost Plus, Profit Split, Transactional Net Margin, and Other Method).

A. Section 90 — bilateral double taxation relief agreements.

B. Section 91 — unilateral double taxation relief.

D. Section 93 — avoidance of income-tax by transactions resulting in transfer of income to non-residents.
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Question 67
Which of the following statements are correct:

A. Call-in-advance is the amount paid by the shareholders in excess of amount due from them
B. When the number of shares applied is more than the number of shares offered to the public for subscription, the issue is termed as under subscription
C. Section 49 of the Companies Act prohibits the issue of shares other than sweat equity shares at discount
D. Unless or until the fortified shares are re-issued, the balance on the shares fortified account will be deducted from the paid up capital
E. The securities premium is an amount in excess of nominal value of face value of the securities

Choose the correct answer from the options given below:
1. AA and E Only
2. BB, C and D Only
3. CA, B and C Only
4. DA, D and E Only
Answer: (A) A and E Only
Explanation
Corporate accounting and Companies Act, 2013 provisions regulate share capital issuance and premiums:

A. Calls-in-advance — true. Represents funds remitted by shareholders prior to formal call notices by directors.

E. Securities premium — true. Represents consideration collected over and above the face or nominal par value of shares.

B — false. An excess of applications over shares offered constitutes over-subscription, not under-subscription.

C — false. Section 53 (not Section 49) of the Companies Act, 2013 prohibits the issuance of shares at a discount.

D — false. The balance on forfeited shares account is added to paid-up capital on the balance sheet until reissued.
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Question 68
When price of a good X rises, the demand for substitute good Y will;
1. ARise
2. BFall
3. CRemain unchanged
4. DFalls initially and then rises
Answer: (A) Rise
Explanation
Substitute goods possess a positive cross-price elasticity of demand.

Cross Elasticity of Demand (Exy) = (% Change in Quantity Demanded of Y) / (% Change in Price of X) > 0

A. Rise — correct. When the price of good X rises, it becomes relatively more expensive, prompting consumers to switch their purchases toward substitute good Y, shifting the demand curve for Y rightward.

B. Fall — occurs for complementary goods with negative cross elasticity.

C. Remain unchanged — occurs for unrelated independent goods with zero cross elasticity.

D. Falls initially and then rises — not a standard microeconomic substitute demand response.
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Question 69
Determine the P/V ratio from the following particulars.

Total Fixed Cost Rs 12,000
Actual Sales Rs 48,000
Margin of Safety Rs 8,000
1. A20 %
2. B25 %
3. C30 %
4. D40 %
Answer: (C) 30 %
Explanation
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Question 70
Which of the following are the features of F.E.M.A?

A. Central government can regulate payments to and from a person situated outside country
B. Holding of immovable property outside India is restricted
C. R.B.I can restrict the transaction from capital account even if it is done by authorized person
D. All foreign financial transactions are to be done through F.E.M.A authorized person
E. F.E.M.A applies to Indian citizens living abroad

Choose the correct answer from the options given below:
1. AA, B, C Only
2. BB, D, E Only
3. CA, B, E Only
4. DA, C, D Only
Answer: (D) A, C, D Only
Explanation
The Foreign Exchange Management Act, 1999 (FEMA) regulates external trade and foreign exchange transactions in India.

A. Regulation of cross-border payments — true. Sections 3 and 4 empower the Central Government and RBI to regulate payments to or from persons outside India.

C. RBI capital account restrictions — true. Section 6 authorizes RBI in consultation with the Central Government to specify admissible capital account classes and limits.

D. Authorized person routing — true. Section 3 mandates all foreign exchange dealings be conducted exclusively through authorized dealers/persons.

E — false. FEMA's jurisdiction is residential-based (residence in India) rather than citizenship-based, so it does not apply to non-resident Indian citizens abroad.
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Question 71
Which of the following statements are true regarding the buying dynamics of individual consumers?

A. To successfully compete in the market and create customer value, managers must fully understand the reality rather than theory of consumer behavior
B. In marketing, perceptions are more important than reality because they affect consumers actual behavior
C. People emerge with same perceptions of the same object
D. Consumers are constructive decision makers and are subject to many contextual influences
E. A consumer's buying behavior is influenced by cultural, social and personal tactics. Of these personal factors exert the broadest and deepest influence on people's perception and desires

Choose the correct answer from the options given below:
1. AB, D Only
2. BA, B, D Only
3. CA, C, E Only
4. DB, C, D, E Only
Answer: (B) A, B, D Only
Explanation
Philip Kotler emphasizes fundamental psychological realities in consumer decision-making:

A. Reality of consumer behavior — true. Effective market competitiveness requires grounded understanding of real purchasing behavior rather than abstract assumptions.

B. Primacy of perception — true. Consumers act upon subjective perceived reality (benefits, prestige, risk) rather than objective product facts.

D. Constructive decision makers — true. Consumers formulate preferences adaptively during the decision process based on context and heuristics.

C — false. Individuals perceive identical stimuli differently due to selective attention, selective distortion, and selective retention.

E — false. Cultural factors (not personal factors) exert the broadest and deepest influence on consumer desires and behavior.
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Question 72
Which of the following research designs is the most precise one?
1. AExperimental
2. BExploratory
3. CDiagnostic
4. DDescriptive
Answer: (A) Experimental
Explanation
Research design precision is determined by control over extraneous variables and ability to isolate causality.

A. Experimental — correct. Experimental design provides the highest degree of precision because the researcher actively manipulates treatment variables under controlled conditions with random assignment to measure definitive causal impact.

B. Exploratory — flexible and unstructured design used for preliminary hypothesis formulation with lowest precision.

C. Diagnostic — aimed at discovering association frequency without experimental manipulation.

D. Descriptive — describes factual characteristics of a population without causal experimental controls.
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Question 73
Which one the following is not the behavioral factor of the customer profile involved in tactical targeting?
1. APurchase Frequency
2. BIncome
3. CPurchase Quantity
4. DPrice Sensitivity
Answer: (B) Income
Explanation
Customer profiling in marketing segmentation separates demographic parameters from behavioral indicators.

B. Income — correct. Income is an objective socioeconomic and demographic variable, not a behavioral trait.

A. Purchase Frequency — behavioral metric reflecting usage and transaction repetition.

C. Purchase Quantity — behavioral volume metric tracking order size.

D. Price Sensitivity — behavioral responsiveness factor measuring elasticity and discount seeking.
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Question 74
Which one of the following refers to the composition of long term funds such as debentures, long term borrowing, preference shares, equity shares in the capitalization of a company?
1. ACost of capital
2. BCapital budgeting
3. CWorking Capital
4. DCapital structure
Answer: (D) Capital structure
Explanation
Corporate finance terminology classifies financing and investment decisions into distinct constructs.

D. Capital structure — correct. The permanent long-term financing mix of a company represented by equity capital, preference capital, reserves, and long-term debt.

A. Cost of capital — the weighted minimum rate of return required by providers of debt and equity.

B. Capital budgeting — the process of planning and evaluating long-term capital asset investments.

C. Working Capital — the capital employed in financing short-term operating assets and liabilities.
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Question 75
Which of the following is not a monetary measure for correcting disequilibrium in Balance of Payment?
1. AMonetary Contraction
2. BDevaluation
3. CExchange Control
4. DAbolution of Export Duties
Answer: (D) Abolution of Export Duties
Explanation
Techniques for restoring external balance of payments equilibrium fall into monetary instruments and commercial/fiscal policies.

D. Abolution of Export Duties — fiscal and commercial policy measure. Altering export duties is a trade policy intervention aimed at boosting export competitiveness rather than a monetary variable.

A. Monetary Contraction — monetary policy tightening credit and money supply to reduce domestic aggregate demand and import intake.

B. Devaluation — monetary adjustment lowering the official exchange value of domestic currency.

C. Exchange Control — direct monetary intervention by the central bank rationing foreign exchange allocation.
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Question 76
A contract of Indemnity is a :
1. AWagering Agreement
2. BQuasi Contract
3. CVoid Contract
4. DContingent Contract
Answer: (D) Contingent Contract
Explanation
Section 124 of the Indian Contract Act, 1872 defines a contract of indemnity as a promise to save another from loss caused by the promisor or third parties.

D. Contingent Contract — correct. Section 31 defines a contingent contract as an agreement to do or not do something conditional on an uncertain collateral event. Because the indemnifier's liability is conditional upon actual loss occurring, indemnity is a specialized form of contingent contract.

A. Wagering Agreement — void speculative bet with reciprocal chances of gain and loss.

B. Quasi Contract — equitable obligation created by operation of law without an agreement.

C. Void Contract — agreement unenforceable by law from the beginning.
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Question 77
Which one of the following structure of the marketing department will be most suitable for the companies that produce many products for many markets?
1. AGeographic Organization
2. BProduct or Brand Organization
3. CFunctional Organization
4. DMatrix Organization
Answer: (D) Matrix Organization
Explanation
Marketing departmental structures adapt to product and customer market complexity.

D. Matrix Organization — correct. When a corporation manufactures diverse product lines for multiple distinct customer segments, a product-market matrix organization with dual reporting to product managers and market managers ensures balanced focus.

A. Geographic Organization — suitable when customer needs vary fundamentally by regional geography.

B. Product or Brand Organization — optimal when products are technically complex but sold to similar markets.

C. Functional Organization — simplest structure suitable for a single product line in a homogenous market.
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Question 78
Which one of the following conditions is not true in case of marketing skimming as the pricing objective?
1. AThe market is highly price sensitive
2. BA sufficient number of buyers signal a high demand
3. CThe high initial price does not attract more competitors to the market
4. DThe high price communicates the image of a superior product
Answer: (A) The market is highly price sensitive
Explanation
Market-skimming pricing involves setting a high initial price to extract consumer surplus from inelastic, price-insensitive market segments.

A. The market is highly price sensitive — not true for skimming. High price elasticity characterizes market-penetration pricing, where low introductory prices drive volume.

B. Sufficient buyers with high demand — true. An inelastic segment must exist willing to buy at the premium price.

C. High initial price deters rivals — true. Barriers or niche scale prevent immediate competitor entry.

D. Superior product image — true. Premium pricing signals premium quality and status.
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Question 79
Arrange the following points step by step regarding computation of Gross Total Income

A. Computation of Gross Total Income
B. Set off and carry forward of Losses
C. Clubbing of Income of spouse, minor child etc.
D. Computation of Income under each head of Income
E. Determination of Residential Status

Choose the correct answer from the options given below:
1. AE, D, C, B, A
2. BA, B, C, D, E
3. CC, D, E, A, B
4. DB, C, D, E, A
Answer: (A) E, D, C, B, A
Explanation
Under the Income Tax Act, 1961, the computation of Gross Total Income follows a five-step statutory procedure:

E, D, C, B, A

E. Determination of Residential Status — ascertain taxability scope under Section 6.

D. Computation of Income under each head — calculate taxable income across the five statutory heads after head-specific exemptions and deductions.

C. Clubbing of Income — aggregate income of spouse, minor children, or other individuals under Sections 60 to 64.

B. Set-off and carry-forward of losses — apply intra-head and inter-head set-off provisions under Sections 70 to 80.

A. Computation of Gross Total Income — aggregate the resulting positive head balances to arrive at Gross Total Income.
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Question 80

Match List-I with List-II.

LIST-I (Direct Material Variance)	LIST-II (Formula)
A. Direct material cost variance	I. Standard price x (Revised standard quantity - Actual Quantity)
B. Direct material price variance	II. Standard price x (Standard Quantity for actual output quantity - Actual Quantity)
C. Direct material usage variance	III. Actual Quantity x (standard price - actual price)
D. Direct material mix variance	IV. Standard cost for actual output - actual cost

AA-I, B-II, C-III, D-IV
BA-IV, B-III, C-I, D-II
CA-IV, B-III, C-II, D-I
DA-III, B-IV, C-II, D-I

Answer: (C) A-IV, B-III, C-II, D-I

Explanation

Standard costing material variance formulas correspond to standard operational definitions:

A-IV, B-III, C-II, D-I

A. Direct material cost variance — IV. Standard cost for actual output - actual cost.
B. Direct material price variance — III. Actual Quantity x (standard price - actual price).
C. Direct material usage variance — II. Standard price x (Standard Quantity for actual output quantity - Actual Quantity).
D. Direct material mix variance — I. Standard price x (Revised standard quantity - Actual Quantity).

Question 81
Which section of the Income Tax Act 1961 mentions unilateral relief?
1. A90
2. B89
3. C91
4. D92
Answer: (C) 91
Explanation
Double taxation avoidance relief provisions under Chapter IX of the Income Tax Act, 1961 distinguish bilateral treaties from unilateral domestic deductions:

C. Section 91 — correct. Provides unilateral double taxation relief to Indian tax residents on income doubly taxed in a foreign country with which India has no bilateral DTAA agreement.

A. Section 90 — bilateral relief under comprehensive Double Tax Avoidance Agreements (DTAA).

B. Section 89 — relief when salary is paid in arrears or in advance.

D. Section 92 — computation of income from international transactions having regard to arm's length price.
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Question 82
Which one of the following is value added service of EXIM Bank?
1. AExport Facilitation
2. BExport product Development
3. CWorkshops and Seminars
4. DExport Marketing
Answer: (C) Workshops and Seminars
Explanation
The Export-Import Bank of India (EXIM Bank) distinguishes core credit facilities from non-funded advisory and value-added services.

C. Workshops and Seminars — correct. EXIM Bank organizes knowledge-sharing seminars, research symposiums, and export workshops as specialized value-added advisory services to equip exporters with trade policy, regulatory, and market intelligence.

A, B, and D — structured operational and financial credit programmes rather than value-added institutional services.
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Question 83
Arrange the following levels of economic integration in increasing order.

A. Political Union
B. Free Trade Area
C. Customs Union
D. Common Market
E. Economic Union

Choose the correct answer from the options given below:
1. AB, C, D, E, A
2. BB, A, C, D, E
3. CB, A, D, C, E
4. DE, D, B, A, C
Answer: (A) B, C, D, E, A
Explanation
Bela Balassa's classical taxonomy of economic integration ranks trade blocs in increasing degree of integration:

B, C, D, E, A

B. Free Trade Area — eliminates internal tariffs and quotas among member countries while retaining independent external tariffs.

C. Customs Union — adopts a common external tariff towards non-member nations.

D. Common Market — permits free mobility of factors of production (capital and labor) across borders.

E. Economic Union — harmonizes monetary, fiscal, and social policies among member states.

A. Political Union — highest integration, establishing common political governance and unified sovereignty.
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Question 84
Which one of the following is not a social network of social media platform?
1. AFacebook
2. BBlogs
3. CTwitter
4. DYouTube
Answer: (B) Blogs
Explanation
Social media classifications (Kaplan and Haenlein) separate interpersonal networking platforms from publishing media.

B. Blogs — correct. Weblogs are digital publishing journals and content distribution platforms focused on asynchronous articles, not social networking relationship graphs.

A. Facebook — social networking service built on personal reciprocal friend connections.

C. Twitter — microblogging and social networking platform connecting public follower networks.

D. YouTube — video sharing content community with social media channels and subscribers.
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Question 85
Arrange the practical steps involved in the preparation of process account where there is work in progress.

A. Prepare process account
B. Prepare statement of Evaluation
C. Prepare statement of cost per equivalent unit
D. Prepare statement of equivalent production
E. Determine and analyze the number of physical units in the form of inputs (transferred from previous process) and output

Choose the correct answer from the options given below:
1. AA, B, C, D, E
2. BE, D, C, B, A
3. CC, D, E, A, B
4. DB, C, D, A, E
Answer: (B) E, D, C, B, A
Explanation
In process costing where uncompleted work in progress exists, cost accountants follow a five-stage sequence:

E, D, C, B, A

E. Physical unit analysis — track physical input units from previous processes against completed units and closing WIP.

D. Statement of equivalent production — translate partially completed WIP into equivalent completed units for each cost element.

C. Statement of cost per equivalent unit — divide accumulated element costs by total equivalent production units.

B. Statement of Evaluation — apportion total costs between finished goods transferred out and closing work in progress.

A. Prepare process account — debit inputs and credit completed production and closing inventory in the formal ledger account.
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Question 86
Which one of the following conditions is not true as per IRDA Act, 1999, for entry of private players into the insurance market?
1. AThe company's sole purpose is to carry on life insurance business or general insurance business or reinsurance business.
2. BThe minimum paid up equity capital for life insurance or general insurance business is ₹100 crore.
3. CThe minimum paid up capital for carrying reinsurance business is ₹300 crore.
4. DInsurance companies are required to invest not less than 15 percent of their funds in infrastructure and social sectors.
Answer: (C) The minimum paid up capital for carrying reinsurance business is ₹300 crore.
Explanation
Statutory entry conditions for private insurers under the Insurance Act, 1938 as amended by the IRDA Act, 1999 specify capital and operational limits:

C. Minimum capital for reinsurance — not true. The statutory minimum paid-up equity capital for carrying on reinsurance business is ₹200 crore, not ₹300 crore.

A. Sole purpose requirement — true. An insurance company must exclusively conduct life, general, or reinsurance operations.

B. Minimum capital for direct insurance — true. Direct life and general insurers require minimum paid-up capital of ₹100 crore.

D. Infrastructure investment — true. Insurers are statutorily required to allocate prescribed minimum funds to infrastructure and social sectors.
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Question 87
The Securities Exchange Board of India (SEBI) regulates and supervises the securities through

A. Regulations
B. Rules
C. Guidelines
D. Scheme
E. Orders

Choose the correct answer from the options given below:
1. AA, B, E Only
2. BB, C, D Only
3. CA, B, C, D, E
4. DA, C, D, E Only
Answer: (C) A, B, C, D, E
Explanation
SEBI exercises its statutory oversight over the Indian capital market through a comprehensive hierarchy of regulatory instruments:

A. Regulations — subordinate legislation framed by SEBI under Section 30 of the SEBI Act.

B. Rules — executive rules framed by the Central Government under Section 29.

C. Guidelines — operational directives, circulars, and codes of conduct issued to intermediaries.

D. Schemes — statutory registration and supervision of Collective Investment Schemes and Mutual Funds.

E. Orders — quasi-judicial adjudicatory and cease-and-desist directions issued under Sections 11 and 11B.
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Question 88
Arrange the following actions of a manager in the increasing degree of control.

A. Manager defines limits and asks for group decisions
B. Manager offers tentative decisions to change
C. Manager sells decisions
D. Manager lets subordinates function within limits defined by him
E. Manager presents problems, invites suggestions and makes decisions

Choose the correct answer from the options given below:
1. AA, D, B, E, C
2. BC, B, E, A, D
3. CD, A, E, B, C
4. DD, A, B, E, C
Answer: (C) D, A, E, B, C
Explanation
Robert Tannenbaum and Warren Schmidt's leadership continuum arranges managerial behaviors across an ascending spectrum of manager authority and control:

D, A, E, B, C

D. Subordinates function within limits — lowest manager control (broadest subordinate autonomy).

A. Manager defines limits and asks for group decision — group decides within clear boundaries.

E. Manager presents problem, invites suggestions, makes decision — consultative input before managerial decision.

B. Manager offers tentative decision subject to change — manager formulates proposal, invites reactions.

C. Manager sells decision — highest manager control among these options (manager decides and persuades subordinates).
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Question 89
Prepaid Insurance is which type of account?
1. AReal Account
2. BPersonal Account
3. CNominal Account
4. DReal and Nominal Both
Answer: (B) Personal Account
Explanation
Under the traditional classification of accounting ledgers:

B. Personal Account — correct. Prepaid Insurance is a Representative Personal Account because it represents an advance payment made to the insurance company which owes insurance coverage to the firm in the subsequent accounting period.

A. Real Account — records tangible or intangible physical property assets such as machinery or land.

C. Nominal Account — records expired expenses, losses, revenues, or gains.

D. Real and Nominal Both — not an accepted ledger category in double-entry bookkeeping.
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Question 90
Which of the following refers to an attempt to avoid payment of taxes by using illegal means?
1. ATax Management
2. BTax Planing
3. CTax Avoidance
4. DTax Evasion
Answer: (D) Tax Evasion
Explanation
Income tax terminology strictly differentiates lawful tax minimization from unlawful non-compliance:

D. Tax Evasion — correct. The unlawful attempt to reduce or eliminate tax liability through fraudulent, deliberate, and illegal means such as suppression of income, concealment of assets, or falsification of vouchers.

A. Tax Management — administrative compliance with statutory tax procedures, deadlines, and filings.

B. Tax Planning — legitimate arrangement of financial affairs to claim statutory deductions, exemptions, and reliefs.

C. Tax Avoidance — legal exploitation of legislative loopholes to reduce taxes while violating the intent or spirit of the law.
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Question 91
What is one-of the major challenges in the digital banking landscape in India?
The first phase of modern banking in India began after independence in 1947, when the government nationalized the major banks and introduced various reforms to promote financial inclusion and social welfare. The second phase started in the 1990s, when the liberalization of the economy and the advent of technology enabled the emergence of new private and foreign banks, offering competitive and innovative products and services to the customers. In the 2000s, the third phase commenced when the Internet and mobile penetration increased, leading to the rise of online and mobile banking, as well as the entry of Non-Banking Financial Companies (NBFCs) and fintech startups, offering digital solutions to cater to the unbanked and underbanked segments of the population. The fourth and current phase of banking in India is characterized by the emergence of neo banks, which are digital-only banks that operate without physical branches and offer a range of banking and financial services through mobile apps and web platforms. Neo banks often function by partnering with licensed banks to provide their services to customer. While the digital banking landscape in India is evolving rapidly, there are still many challenges and gaps that need to be addressed. One of the major challenges is the lack of standardization and interoperability among the various players, platforms, and systems in the ecosystem. For instance, there are multiple payment methods, such as UPI, IMPS, NEFT, RTGS, cards, wallets and QR codes, each with its own features, limitations and charges. This creates confusion and inconvenience for customers, who have to switch between different apps and interfaces to make payments and access their accounts.

Artificial Intelligence (AI) is a potent technology that can help digital banks to overcome the challenges and gaps mentioned above, and add value to their customers and stakeholders. AI can enable digital banks to leverage data and analytics, machine learning, natural language processing, computer vision, and other advance techniques to automate and enhance various banking processes, such as customer identification and verification, customer service and support, product recommendation and cross-selling, fraud detection and risk management, credit scoring and underwriting, and regulatory compliance and reporting.
1. ALack of internet penetration
2. BOverabundance of physical branches
3. CLack of standardization and interoperability
4. DOver regulation by the government
Answer: (C) Lack of standardization and interoperability
Explanation
According to the passage, the digital banking landscape in India is evolving rapidly but encounters system fragmentation.

C. Lack of standardization and interoperability — correct. The passage explicitly states that one of the major challenges is the lack of standardization and interoperability among various players, platforms, and payment systems.

A, B, and D — incorrect distractors not stated in the passage as major digital banking challenges.
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Question 92
What marked the beginning of the second phase of modern banking in India?
The first phase of modern banking in India began after independence in 1947, when the government nationalized the major banks and introduced various reforms to promote financial inclusion and social welfare. The second phase started in the 1990s, when the liberalization of the economy and the advent of technology enabled the emergence of new private and foreign banks, offering competitive and innovative products and services to the customers. In the 2000s, the third phase commenced when the Internet and mobile penetration increased, leading to the rise of online and mobile banking, as well as the entry of Non-Banking Financial Companies (NBFCs) and fintech startups, offering digital solutions to cater to the unbanked and underbanked segments of the population. The fourth and current phase of banking in India is characterized by the emergence of neo banks, which are digital-only banks that operate without physical branches and offer a range of banking and financial services through mobile apps and web platforms. Neo banks often function by partnering with licensed banks to provide their services to customer. While the digital banking landscape in India is evolving rapidly, there are still many challenges and gaps that need to be addressed. One of the major challenges is the lack of standardization and interoperability among the various players, platforms, and systems in the ecosystem. For instance, there are multiple payment methods, such as UPI, IMPS, NEFT, RTGS, cards, wallets and QR codes, each with its own features, limitations and charges. This creates confusion and inconvenience for customers, who have to switch between different apps and interfaces to make payments and access their accounts.

Artificial Intelligence (AI) is a potent technology that can help digital banks to overcome the challenges and gaps mentioned above, and add value to their customers and stakeholders. AI can enable digital banks to leverage data and analytics, machine learning, natural language processing, computer vision, and other advance techniques to automate and enhance various banking processes, such as customer identification and verification, customer service and support, product recommendation and cross-selling, fraud detection and risk management, credit scoring and underwriting, and regulatory compliance and reporting.
1. ANationalization of major banks
2. BLiberalization of the economy
3. CEmergence of fintech startup
4. DIntroduction of Internet banking
Answer: (B) Liberalization of the economy
Explanation
The passage outlines the historical timeline of Indian banking phases.

B. Liberalization of the economy — correct. The text explicitly notes that the second phase started in the 1990s, when the liberalization of the economy and technological advent enabled new private and foreign banks to emerge.

A. Nationalization of major banks — marked the first phase after independence in 1947.

C and D — characterized the third phase during the 2000s.
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Question 93
How can artificial intelligence (AI) help digital banks to overcome challenges?
The first phase of modern banking in India began after independence in 1947, when the government nationalized the major banks and introduced various reforms to promote financial inclusion and social welfare. The second phase started in the 1990s, when the liberalization of the economy and the advent of technology enabled the emergence of new private and foreign banks, offering competitive and innovative products and services to the customers. In the 2000s, the third phase commenced when the Internet and mobile penetration increased, leading to the rise of online and mobile banking, as well as the entry of Non-Banking Financial Companies (NBFCs) and fintech startups, offering digital solutions to cater to the unbanked and underbanked segments of the population. The fourth and current phase of banking in India is characterized by the emergence of neo banks, which are digital-only banks that operate without physical branches and offer a range of banking and financial services through mobile apps and web platforms. Neo banks often function by partnering with licensed banks to provide their services to customer. While the digital banking landscape in India is evolving rapidly, there are still many challenges and gaps that need to be addressed. One of the major challenges is the lack of standardization and interoperability among the various players, platforms, and systems in the ecosystem. For instance, there are multiple payment methods, such as UPI, IMPS, NEFT, RTGS, cards, wallets and QR codes, each with its own features, limitations and charges. This creates confusion and inconvenience for customers, who have to switch between different apps and interfaces to make payments and access their accounts.

Artificial Intelligence (AI) is a potent technology that can help digital banks to overcome the challenges and gaps mentioned above, and add value to their customers and stakeholders. AI can enable digital banks to leverage data and analytics, machine learning, natural language processing, computer vision, and other advance techniques to automate and enhance various banking processes, such as customer identification and verification, customer service and support, product recommendation and cross-selling, fraud detection and risk management, credit scoring and underwriting, and regulatory compliance and reporting.
1. ABy reducing Internet penetration
2. BBy increasing physical branches
3. CBy providing advanced analytics
4. DBy reducing customer base
Answer: (C) By providing advanced analytics
Explanation
The passage discusses artificial intelligence applications in contemporary digital banking.

C. By providing advanced analytics — correct. The text states that AI enables digital banks to leverage data and analytics, machine learning, and computer vision to automate and enhance banking operations.

A, B, and D — contradictory and negative outcomes that do not represent technological advantages of AI.
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Question 94
What is the primary focus of neo banks in India?
The first phase of modern banking in India began after independence in 1947, when the government nationalized the major banks and introduced various reforms to promote financial inclusion and social welfare. The second phase started in the 1990s, when the liberalization of the economy and the advent of technology enabled the emergence of new private and foreign banks, offering competitive and innovative products and services to the customers. In the 2000s, the third phase commenced when the Internet and mobile penetration increased, leading to the rise of online and mobile banking, as well as the entry of Non-Banking Financial Companies (NBFCs) and fintech startups, offering digital solutions to cater to the unbanked and underbanked segments of the population. The fourth and current phase of banking in India is characterized by the emergence of neo banks, which are digital-only banks that operate without physical branches and offer a range of banking and financial services through mobile apps and web platforms. Neo banks often function by partnering with licensed banks to provide their services to customer. While the digital banking landscape in India is evolving rapidly, there are still many challenges and gaps that need to be addressed. One of the major challenges is the lack of standardization and interoperability among the various players, platforms, and systems in the ecosystem. For instance, there are multiple payment methods, such as UPI, IMPS, NEFT, RTGS, cards, wallets and QR codes, each with its own features, limitations and charges. This creates confusion and inconvenience for customers, who have to switch between different apps and interfaces to make payments and access their accounts.

Artificial Intelligence (AI) is a potent technology that can help digital banks to overcome the challenges and gaps mentioned above, and add value to their customers and stakeholders. AI can enable digital banks to leverage data and analytics, machine learning, natural language processing, computer vision, and other advance techniques to automate and enhance various banking processes, such as customer identification and verification, customer service and support, product recommendation and cross-selling, fraud detection and risk management, credit scoring and underwriting, and regulatory compliance and reporting.
1. AOffering physical branch services
2. BCatering to the unbanked and underbanked segments
3. CProviding traditional banking services
4. DEmphasizing paper - based transaction
Answer: (B) Catering to the unbanked and underbanked segments
Explanation
The passage describes digital and neo bank target objectives in the Indian market.

B. Catering to the unbanked and underbanked segments — correct. Digital solutions and neo banks focus on extending digital financial services to previously unbanked and underbanked populations.

A, C, and D — represent traditional brick-and-mortar banking practices that neo banks explicitly replace with mobile and web platforms.
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Question 95
What is consequence of the lack of standardization and interoperability in the digital banking ecosystem?
The first phase of modern banking in India began after independence in 1947, when the government nationalized the major banks and introduced various reforms to promote financial inclusion and social welfare. The second phase started in the 1990s, when the liberalization of the economy and the advent of technology enabled the emergence of new private and foreign banks, offering competitive and innovative products and services to the customers. In the 2000s, the third phase commenced when the Internet and mobile penetration increased, leading to the rise of online and mobile banking, as well as the entry of Non-Banking Financial Companies (NBFCs) and fintech startups, offering digital solutions to cater to the unbanked and underbanked segments of the population. The fourth and current phase of banking in India is characterized by the emergence of neo banks, which are digital-only banks that operate without physical branches and offer a range of banking and financial services through mobile apps and web platforms. Neo banks often function by partnering with licensed banks to provide their services to customer. While the digital banking landscape in India is evolving rapidly, there are still many challenges and gaps that need to be addressed. One of the major challenges is the lack of standardization and interoperability among the various players, platforms, and systems in the ecosystem. For instance, there are multiple payment methods, such as UPI, IMPS, NEFT, RTGS, cards, wallets and QR codes, each with its own features, limitations and charges. This creates confusion and inconvenience for customers, who have to switch between different apps and interfaces to make payments and access their accounts.

Artificial Intelligence (AI) is a potent technology that can help digital banks to overcome the challenges and gaps mentioned above, and add value to their customers and stakeholders. AI can enable digital banks to leverage data and analytics, machine learning, natural language processing, computer vision, and other advance techniques to automate and enhance various banking processes, such as customer identification and verification, customer service and support, product recommendation and cross-selling, fraud detection and risk management, credit scoring and underwriting, and regulatory compliance and reporting.
1. AConvenience for customers
2. BIncreased trust in digital banking
3. CConfusing and inconvenience for costumers
4. DReduction in transaction costs
Answer: (C) Confusing and inconvenience for costumers
Explanation
The passage highlights the operational frictions created by payment platform fragmentation.

C. Confusing and inconvenience for costumers — correct. The passage explicitly concludes that multiple incompatible interfaces create confusion and inconvenience for customers who must switch between apps.

A, B, and D — positive consequences that directly contradict the challenges described in the text.
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Question 96
What is the significance of the term “destination - based tax” in the context of GST?
The major source for the revenue for the government is indirect tax. The Central Board of Indirect Taxes and Customs (CBIC) (erstwhile Central Board of Excise and Customs) is the apex regulatory body that supervises the levy and administration of Indirect Taxes in India. CBIC is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matter relating to customs, Central Excise, Central Goods & Services Tax (CGST), IGST and narcotics to the extent under CBIC’s purview. The board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenue Control Laboratory. In recent years, the Indian government has undertaken significant reforms under the indirect taxation system. This includes the implementation of Goods and Services Tax (GST). Goods and Services Tax (GST) is an indirect tax has replaced many indirect taxes in India. The Goods and Services Tax Act was passed in the Parliament on March 29, 2017. This Act came into effect on July 01, 2017. GST is a destination based tax on consumption with credit of taxes paid at previous stages available as set-off. In nutshell. Only value addition will be taxed and the burden of tax is to be borne by the final consumer.

Destination based tax on consumption means the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. GST has removed the cascading effect of taxes. This cascading effect implies charging tax on tax. In other words, at the time of levy of tax, the total value is considered which is inclusive of all taxes paid up to the points. In this manner, if the tax is always charged on the selling price of the products, the burden of tax keeps on increasing at each point of sales. In this process, the effect of taxation magnifies as at each level tax is calculated on value, which includes taxes already levied and paid. The charging of tax on tax is called the ‘Cascading Effect of Tax’.
1. ATax is based on the destination of goods only
2. BTax is levied based on the origin of goods
3. CTax is collected at the point of sale.
4. DTax accrues to the taxing authority at the place of consumption.
Answer: (D) Tax accrues to the taxing authority at the place of consumption.
Explanation
The passage defines the constitutional and economic mechanism of destination-based taxation under GST.

D. Tax accrues to the taxing authority at the place of consumption — correct. The passage explicitly states that destination-based tax on consumption means the tax revenue accrues to the taxing authority having jurisdiction over the place of consumption.

A. Destination of goods only — incorrect because GST applies to both goods and services.

B. Levied based on origin of goods — describes origin-based taxation such as erstwhile Central Sales Tax (CST).

C. Collected at point of sale — refers to collection mechanics rather than the destination revenue accrual principle.
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Question 97
What does the term “cascading effect of taxes” refer to?
The major source for the revenue for the government is indirect tax. The Central Board of Indirect Taxes and Customs (CBIC) (erstwhile Central Board of Excise and Customs) is the apex regulatory body that supervises the levy and administration of Indirect Taxes in India. CBIC is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matter relating to customs, Central Excise, Central Goods & Services Tax (CGST), IGST and narcotics to the extent under CBIC’s purview. The board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenue Control Laboratory. In recent years, the Indian government has undertaken significant reforms under the indirect taxation system. This includes the implementation of Goods and Services Tax (GST). Goods and Services Tax (GST) is an indirect tax has replaced many indirect taxes in India. The Goods and Services Tax Act was passed in the Parliament on March 29, 2017. This Act came into effect on July 01, 2017. GST is a destination based tax on consumption with credit of taxes paid at previous stages available as set-off. In nutshell. Only value addition will be taxed and the burden of tax is to be borne by the final consumer.

Destination based tax on consumption means the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. GST has removed the cascading effect of taxes. This cascading effect implies charging tax on tax. In other words, at the time of levy of tax, the total value is considered which is inclusive of all taxes paid up to the points. In this manner, if the tax is always charged on the selling price of the products, the burden of tax keeps on increasing at each point of sales. In this process, the effect of taxation magnifies as at each level tax is calculated on value, which includes taxes already levied and paid. The charging of tax on tax is called the ‘Cascading Effect of Tax’.
1. ATax evasion
2. BTax avoiding
3. CCharging tax on tax
4. DTax exemption
Answer: (C) Charging tax on tax
Explanation
The passage directly explains the mechanics of cascading tax burdens.

C. Charging tax on tax — correct. The text explicitly defines the cascading effect as charging tax on tax, where subsequent levies are computed on a selling price that already includes earlier taxes.

A. Tax evasion — unlawful evasion of taxes.

B. Tax avoiding — exploiting legal loopholes to minimize tax.

D. Tax exemption — statutory exclusion from tax liability.
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Question 98
How does GST eliminate the cascading effect of taxes?
The major source for the revenue for the government is indirect tax. The Central Board of Indirect Taxes and Customs (CBIC) (erstwhile Central Board of Excise and Customs) is the apex regulatory body that supervises the levy and administration of Indirect Taxes in India. CBIC is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matter relating to customs, Central Excise, Central Goods & Services Tax (CGST), IGST and narcotics to the extent under CBIC’s purview. The board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenue Control Laboratory. In recent years, the Indian government has undertaken significant reforms under the indirect taxation system. This includes the implementation of Goods and Services Tax (GST). Goods and Services Tax (GST) is an indirect tax has replaced many indirect taxes in India. The Goods and Services Tax Act was passed in the Parliament on March 29, 2017. This Act came into effect on July 01, 2017. GST is a destination based tax on consumption with credit of taxes paid at previous stages available as set-off. In nutshell. Only value addition will be taxed and the burden of tax is to be borne by the final consumer.

Destination based tax on consumption means the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. GST has removed the cascading effect of taxes. This cascading effect implies charging tax on tax. In other words, at the time of levy of tax, the total value is considered which is inclusive of all taxes paid up to the points. In this manner, if the tax is always charged on the selling price of the products, the burden of tax keeps on increasing at each point of sales. In this process, the effect of taxation magnifies as at each level tax is calculated on value, which includes taxes already levied and paid. The charging of tax on tax is called the ‘Cascading Effect of Tax’.
1. ABy increasing tax rates
2. BBy reducing the number of tax types
3. CBy allowing tax credit on previous stages
4. DBy exempting certain product from tax
Answer: (C) By allowing tax credit on previous stages
Explanation
The passage highlights the core structural relief provided by the Goods and Services Tax.

C. By allowing tax credit on previous stages — correct. The passage states that GST is a destination-based tax with credit of taxes paid at previous stages available as set-off (Input Tax Credit), ensuring only net value addition is taxed.

A. By increasing tax rates — exacerbates tax burden rather than eliminating cascading.

B. By reducing number of tax types — achieves structural simplification but does not mechanically remove cascading without input tax credit.

D. By exempting certain products — breaks the input tax credit chain.
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Question 99
Who bears the burden of tax in the GST system?
The major source for the revenue for the government is indirect tax. The Central Board of Indirect Taxes and Customs (CBIC) (erstwhile Central Board of Excise and Customs) is the apex regulatory body that supervises the levy and administration of Indirect Taxes in India. CBIC is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matter relating to customs, Central Excise, Central Goods & Services Tax (CGST), IGST and narcotics to the extent under CBIC’s purview. The board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenue Control Laboratory. In recent years, the Indian government has undertaken significant reforms under the indirect taxation system. This includes the implementation of Goods and Services Tax (GST). Goods and Services Tax (GST) is an indirect tax has replaced many indirect taxes in India. The Goods and Services Tax Act was passed in the Parliament on March 29, 2017. This Act came into effect on July 01, 2017. GST is a destination based tax on consumption with credit of taxes paid at previous stages available as set-off. In nutshell. Only value addition will be taxed and the burden of tax is to be borne by the final consumer.

Destination based tax on consumption means the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. GST has removed the cascading effect of taxes. This cascading effect implies charging tax on tax. In other words, at the time of levy of tax, the total value is considered which is inclusive of all taxes paid up to the points. In this manner, if the tax is always charged on the selling price of the products, the burden of tax keeps on increasing at each point of sales. In this process, the effect of taxation magnifies as at each level tax is calculated on value, which includes taxes already levied and paid. The charging of tax on tax is called the ‘Cascading Effect of Tax’.
1. AManufacturers
2. BRetailers
3. CFinal Consumer
4. DGovernment
Answer: (C) Final Consumer
Explanation
Indirect taxation incidence is passed along the supply chain to the ultimate consumption point.

C. Final Consumer — correct. As explicitly stated in the passage, GST is structured so that only value addition is taxed at each intermediate stage, with the entire ultimate tax burden borne by the final consumer.

A and B — intermediate taxable suppliers who recover taxes paid on inputs via Input Tax Credit.

D. Government — the sovereign taxing authority and recipient of tax revenues.
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Question 100
Which department oversees the administration of matters related to custom, central excise, Central Goods & Services Tax (CGST), (IGST), and narcotics under the Indian government?
The major source for the revenue for the government is indirect tax. The Central Board of Indirect Taxes and Customs (CBIC) (erstwhile Central Board of Excise and Customs) is the apex regulatory body that supervises the levy and administration of Indirect Taxes in India. CBIC is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matter relating to customs, Central Excise, Central Goods & Services Tax (CGST), IGST and narcotics to the extent under CBIC’s purview. The board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerate’s and the Central Revenue Control Laboratory. In recent years, the Indian government has undertaken significant reforms under the indirect taxation system. This includes the implementation of Goods and Services Tax (GST). Goods and Services Tax (GST) is an indirect tax has replaced many indirect taxes in India. The Goods and Services Tax Act was passed in the Parliament on March 29, 2017. This Act came into effect on July 01, 2017. GST is a destination based tax on consumption with credit of taxes paid at previous stages available as set-off. In nutshell. Only value addition will be taxed and the burden of tax is to be borne by the final consumer.

Destination based tax on consumption means the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. GST has removed the cascading effect of taxes. This cascading effect implies charging tax on tax. In other words, at the time of levy of tax, the total value is considered which is inclusive of all taxes paid up to the points. In this manner, if the tax is always charged on the selling price of the products, the burden of tax keeps on increasing at each point of sales. In this process, the effect of taxation magnifies as at each level tax is calculated on value, which includes taxes already levied and paid. The charging of tax on tax is called the ‘Cascading Effect of Tax’.
1. AMinistry of Finance
2. BCentral Board of Direct Taxes
3. CCentral Board of Indirect Taxes and Customs (CBIC)
4. DDepartment of Revenue
Answer: (C) Central Board of Indirect Taxes and Customs (CBIC)
Explanation
The passage identifies the apex indirect tax administrative authority in India.

C. Central Board of Indirect Taxes and Customs (CBIC) — correct. The passage identifies CBIC as the apex regulatory body supervising policy formulation, levy, and collection of customs, central excise, CGST, IGST, and narcotics administration.

A. Ministry of Finance — the overarching executive ministry of which CBIC is a subordinate board.

B. Central Board of Direct Taxes — administers direct taxes (Income Tax).

D. Department of Revenue — parent government department under which both CBDT and CBIC operate.
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Paper 1 had 50 questions and Paper 2 (Commerce) had 100 questions, for 150 in total across 3 hours.

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No. Each correct answer earns 2 marks and there is no penalty for a wrong answer, so leaving a question blank is never better than attempting it.

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Answers follow the official NTA answer key for this session. If you spot a discrepancy, use the report option inside the practice test and we will review it.

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More Commerce practice

All 2025 sessions All Commerce PYQs Commerce topic-wise practice Paper 1 topic-wise practice

Practice Paper 1 from other subjects

Every subject's exam sitting has its own Paper 1 (General Aptitude) set — more real PYQs to solve.

Paper 1 · English Literature sittings Paper 1 · Economics sittings Paper 1 · Computer Science & Applications sittings Paper 1 · Management sittings

Year	Company A (% Profit)	Company B (% Profit)
2018	40%	25%
2019	25%	30%
2020	30%	50%
2021	60%	45%
2022	45%	30%
2023	50%	40%

LIST-I	LIST-II
A. Boudhayana	I. Rasaratnakara
B. Nagarjuna	II. Arthashastra
C. Brahma Gupta	III. Sulva Sutra
D. Vishnu Gupta	IV. Brahma Sputa Siddanthika

Personality Type	Congruent Occupation
A. Social	I. Mechanic
B. Conventional	II. Mathematician
C. Investigative	III. Corporate Manager
D. Realistic	IV. Teacher

Financial Inclusion Yojana	Year
A. PM Jan Dhan	I. 2016
B. PM Mudra	II. 2014
C. Stand Up India	III. 2017
D. Vaya Vandana	IV. 2015

INSTITUTION	YEAR OF ESTABLISHMENT
A. UNCTAD	I. 1967
B. WTO	II. 1994
C. NAFTA	III. 1964
D. ASEAN	IV. 1995

ECONOMISTS	CONTRIBUTION
A. Adam Smith	I. Principles of Economics
B. A. Marshall	II. Value and Capital
C. J.R. Hicks	III. The Wealth of Nations
D. Wassily Leontief	IV. Input Output Economics

Act	Year
A. Indian Contract Act	I. 2013
B. Sales of Goods Act	II. 1872
C. Negotiable Instruments Act	III. 1930
D. Companies Act	IV. 1881

	A	B	C	D
1	Item	Quantity	Price	Revenue
2	A-11	12	5	60
3	B-32	31	9	279
4	C-44	24	12	288

UGC NET Commerce January 2025 Question PaperPaper 1 & Paper 2 with Answer Key

UGC NET January 2025 at a glance

General Aptitude

Commerce

Paper 1 — General Aptitude

Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

Question 8

Question 9

Question 10

Question 11

Question 12

Question 13

Question 14

Question 15

Question 16

Question 17

Question 18

Question 19

Question 20

Question 21

Question 22

Question 23

Question 24

Question 25

Question 26

Question 27

Question 28

Question 29

Question 30

Question 31

Question 32

Question 33

Question 34

Question 35

Question 36

Question 37

Question 38

Question 39

Question 40

Question 41

Question 42

Question 43

Question 44

Question 45

Question 46

Question 47

Question 48

Question 49

Question 50

Paper 2 — Commerce

Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

Question 8

Question 9

Question 10

Question 11

Question 12

Question 13

Question 14

Question 15

Question 16

Question 17

Question 18

Question 19

Question 20

Question 21

Question 22

Question 23

Question 24