Ugc MCQ Commerce

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COPYRIGHT
The Copyright Act, 1957 came into effect from January 1958. This Act has been amended five times since then,
i.e., in 1983, 1984, 1992, 1994, 1999 and 2012. The Copyright (Amendment) Act, 2012 is the most substantial.
The main reasons for amendments to the Copyright Act, 1957 include to bring the Act in conformity with WCT
and WPPT; to protect the Music and Film Industry and address its concerns; to address the concerns of the
physically disabled and to protect the interests of the author of any work; Incidental changes; to remove
operational facilities; and enforcement of rights. Some of the important amendments to the Copyright Act in
2012 are extension of copyright protection in the digital environment such as penalties for circumvention of
technological protection measures and rights management information, and liability of internet service provider
and introduction of statutory licences for cover versions and broadcasting organizations; ensuring right to
receive royalties for authors, and music composers, exclusive economic and moral rights to performers, equal
membership rights in copyright societies for authors and other right owners and exception of copyrights for
physically disabled to access any works.
Prior to the Act of 1957, the Law of Copyrights in the country was governed by the Copyright Act of 1914. This
Act was essentially the extension of the British Copyright Act, 1911 to India. Even the Copyright Act, 1957
borrowed extensively from the new Copyright Act of the United Kingdom of 1956. The Copyright Act, 1957
continues with the common law traditions. Developments elsewhere have brought about certain degree of
convergence in copyright regimes in the developed world.

The Indian Copyright Act today is compliant with most international conventions and treaties in the field of
copyrights. India is a member of the Berne Convention of 1886 (as modified at Paris in 1971), the Universal
Copyright Convention of 1951 and the Agreement on Trade Related Aspects of Intellectual Property Rights
(TRIPS) Agreement of 1995. Though India is not a member of the Rome Convention of 1961, the Copyright Act,
1957 is fully compliant with the Rome Convention provisions.
The two Internet Treaties were negotiated in 1996 under the auspices of the World Intellectual Property
Organization (WIPO). These treaties are called the ‘WIPO Copyrights Treaty (WCT)’ and the ‘WIPO Performances
and Phonograms Treaty (WPPT)’. These treaties were negotiated essentially to provide for protection of the
rights of copyright holders, performers and producers of phonograms in the Internet and digital era. India is not
a member of these treaties; amendments are being mooted to make Act in compliant with the above treaties in
order to provide protection to copyright in the digital era. Though India is not a member of the WCT and the
WPPT, the Copyright Act, 1957 is fully compliant with the Rome Convention provisions. The provisions of the Act
is also in harmony with two other new WIPO treaties namely, the Beijing Audiovisual Performers treaty, 2012
and the Marrakesh Treaty to Facilitate Access to Published Works by Visually Impaired or Otherwise Print
Disabled Persons, 2013.
The Copyright Rules, 2013 was notified on 14 March, 2013 replacing the old Copyright Rules, 1958. The Rules,
inter alia, provide for procedure for relinquishment of Copyright; grant of compulsory licences in the matter of
work withheld from public; to publish or republish works (in certain circumstances); to produce and publish a
translation of a literary or dramatic work in any language; licence for benefit of disabled; grant statutory licence
for cover versions; grant of statutory licence for broadcasting literary and musical works and sound recordings;
registration of copyright societies and copyright registration.
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PREFACE
I am glad indeed to place this title MCQ NTA COMMERCE 2ND EDITION in the hands of those
students who are preparing for UGC NTA exam.
This book is written strictly according to the prescribed according to the new syllabus. In
preparing this book, I have freely drawn the material both from the books of Indian & foreign
authors.
The book is divided into 12 units.
I request every teacher and the taught to bring such mistakes to the notice of the author so
that they can be redressed in the next edition.
I welcome every constructive suggestion that goes in improving the quality of the work and
the utility of the book.

2019
Srinagar-J&K
190001 HILAL AHMED
(B.COM/M.COM/PGDBA)
EMAIL-AHMADHILAL850@GMAIL.COM
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UNIT WISE 10000

MCQs

SESSION-2019
NEW SYLLABUS
PATTERN MCQs
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CONTENTS
UNIT-1 BUSINESS ENVIRONMENT
UNIT-2 INTERNATIONAL BUSINESS
UNIT-3 ACCOUNTING & AUDITING
UNIT-4 BUSINESS ECONOMICS
UNIT-5 BUSINESS FINANCE

UNIT-6 BUSINESS STATISTICS
UNIT-7 BUSINESS MANAGEMENT
UNIT-8 HUMAN RESOURCE MANAGEMENT
UNIT-9 BANKING & FINANCIAL
INSTITUTIONS
UNIT-10 MARKETING MANAGEMENT
UNIT-11 LEGAL ASPECTS OF BUSINESS

UNIT-12 INCOME TAX LAW & PLANNING
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UNIT-1
BUSINESS ENVIREONMENT
Q1. Monetary Policy is a regulatory policy by which the ______or monetary authority of
a country controls the supply of money, availability of bank credit and cost of money
that is the rate of interest:
a) Central Bank (RBI)
b) SBI
c) IBA
d) None of These
Q2. _______controls the supply of money and bank credit:


a) RBI
b) Indian Banking Association
c) SEBI
d) None of These
Q3. Which of the following is correct:
a) The Central Bank has the duty to see that legitimate credit requirements are met
b) And at the same credit is not used for unproductive and speculative purposes.
c) RBI rightly calls its credit policy as one of controlled expansion
d) All of the Above
Q4. Price Stability implies promoting ______with considerable emphasis on price

stability:
a) Financial Development
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b) Economic Development
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c) Strategic Financial Development

d) None of These
Q5. Restriction of Inventories and stock means:
a) Central Monetary authority carries out this essential function of restricting the
development of the economy and all social and economic class of people
b) Ban on Huge amount of Inventories by Central Monetary Authority
c) Both of Above
d) None of These
Q6. An open market operation is an instrument of monetary policy which involves

buying or selling of ________from or to the public and banks:
a) Bonds and Other local securities
b) Debentures and Shares
c) Government Securities

d) None of These
Q7. Which among the following is correct about Sterlization:
a) Sterlization means re-cycling of foreign capital inflows to prevent appreciation of

domestic currency and to check the inflationary impact of such capital
b) Sterlization is carried out through open market operations.
c) To reduce the hurdles for implementation of sterlization, RBI uses a variety of

other measures to manage interest rates.
d) All of the Above
Q8. Every financial institution has to maintain a certain quantity of liquid assets with
themselves at any point of time of their total time and demand liabilities. These
assets have to be kept in non cash form such as G -secs precious metals, approved
securities like bonds etc. The ratio of the liquid assets to time and demand liabilities
is termed as _____:
a) Statutory Liquidity Ratio

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b) Cash Reserve Ratio

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c) Reverse Repo

d) None of These
Q9. Which among the following is incorrect among Moral Suasion:
a) RBI may request commercial banks to not to give loans for unproductive purpose
b) So that which may increases inflation
c) Because it does not add to economic development
d) All of the Above
e) None of These
10. The National Consumer Disputes Redressal Commission (National Commission)

shall have jurisdiction to complaints where the value of the goods or services and
compensation, if any, claimed exceeds rupees
(a) One crore
(b) 50 lakh

(c) 2 crore
(d) 75 lakh
11. Appeal against the order of National Commission can be preferred before
(a) The President
(b) The Supreme Court of India
(c) The Ministry of Consumer Affairs
(d) No such option is available
12. Appeal against the order of National Commission can be preferred before the
Supreme Court of India within a period of ............ days from the date of the order
(a) 45 days
(b) 60 days
(c) 30 days
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(d) 90 days
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13. Which Section of the Act states that appeal against the order of National
Commission can be preferred before the Supreme Court of India
(a) Section 21
(b) Section 22
(c) Section 24
(d) Section 23
14. If a trader or a person or the complainant fails to comply with any order made by
the District Forum, the State Commission or the National Commission, they shall be
punishable
(a) with imprisonment for a term less than one month
(b) with imprisonment for a term less than one year

(c) with imprisonment for a term less than one month but which may extend to three
years

(d) with imprisonment for a term less than one month but which may extend to one
year
15. As per Section 30 of the Act, who can make rules for carrying out the provisions
contained in the act?
(a) Central Government
(b) State Government
(c) Both Central & State Government in respect of the clause specified in Section 30
of the Act
(d) Supreme Court of India
16. As per section 30(A) of the Act, who can make regulations with this Act with the
previous approval of the Central Government for giving effect to the provisions of
this Act
(a) Central Consumer Protection Council

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(b) National Consumer Disputes Redressal Commission

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(c) Ministry of Consumer Affairs

(d) Supreme Court of India
17. The President of National CDRC shall be a person who is or has been
(a) a Judge of the High Court
(b) a Judge of the Supreme Court
(c) a Chief Justice of the High Court
(d) a well known jurist
18. The selection committee for appointing members of National CDRC is consisting
of
(i) A person who is a Judge of Supreme Court, to be nominated by the Chief Justice of
India (Chairman)
(ii) The Minister in Charge of consumer affairs in Central Government (Member)

(iii) The Secretary in the Department of Legal Affairs in the Government of India

(Member)
(iv) The Secretary of the Department dealing with consumer affairs in the
Government of India (Member)
Codes:
(a) (i), (ii) & (iii)
(b) (i), (ii) & (iv)
(c) (i), (ii) & (iv)
(d) (i), (iii) & (iv)
19. The salary or honorarium and other allowances payable to the members of the
National Commission shall be prescribed by ......................
(a) Central Government
(b) President
(c) Supreme Court

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(d) High Court

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20. Every member of National CDRC shall hold office for a term of ...................

(a) Five years or up to the age of sixty seven years
(b) Five years or up to the age of seventy years
(c) Six years or up to the age of seventy years
(d) Five years or up to the age of sixty five years
21. The CDRF (District Forum) shall refer a copy of the admitted complaint to the
opposite party within ................... days from the date of its admission for giving reply
about the compliant.
(a) 21 days
(b) 30 days
(c) 25 days
(d) 15 days
22. The District Forum shall have the same powers as that of a civil court under Code

of Civil Procedure, 1908 while trying a suit in respect of which of the following
matters
(i) The summoning and enforcing the attendance of any defendant or witness and
examining the witness on oath
(ii) The discovery and production of any document or material object as evidence
(iii) The reception of evidence on affidavits
(iv) Issuing of any commission for the examination of any witness
(a) (i), (ii), (iii)
(b) (i), (ii), (iv)
(c) (i), (iii), (iv)
(d) (i), (ii), (iii) & (iv)
23. The District Forum shall be deemed to be a civil court for the purposes of section
195 and Chapter XXVI of ................... .
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(a) The Indian Penal Code, 1860

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(b) The Code of Criminal Procedure, 1973

(c) The Civil Procedure Code, 1908
(d) None of the above
24. Every order made by the District Forum shall be signed by its
(a) President only
(b) President and the member
(c) Members who conducted the proceeding
(d) Either (b) or (c)
25. The President of the State CDRC shall be a person who is or has been a
(a) Judge of a Supreme Court
(b) Judge of a High Court

(c) Judge of a District Court

(d) A well known jurist
26. What are the qualifications to be appointed as the member of the consumer
dispute redressal forum/commission
(i) be not less than thirty-five years of age
(ii) possess a bachelor's degree from a recognised university
(iii) be persons of ability, integrity and standing
Codes:
(a) (i) & (ii)
(b) (i) & (iii)
(c) (ii) & (iii)
(d) (i), (ii) & (iii)
27. For appointing as member of the consumer dispute redressal forum/

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commission, at least .................. years experience in dealing with problems relating to

economics, law, commerce, accountancy, industry, public affairs or administration is
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required?

(a) 15 years
(b) 5 years
(c) 10 years
(d) 7 years
28. A person shall be disqualified for appointment as a member of the consumer

dispute redressal forum/commission if he
(i) has been convicted and sentenced to imprisonment for an offence which involves
moral turpitude
(ii) is an undercharged insolvent
(iii) is of unsound mind and stands so declared by a competent court
(iv) has been removed or dismissed from the service of the Government or a body
corporate owned or controlled by the Government

(v) has such financial or other interest as is likely to affect prejudicially the
discharge by him of his functions as a member
Codes:
(a) Only (i) & (iii)
(b) Only (i), (ii) & (iv)
(c) Only (ii), (iv) & (v)
(d) All the above
29. Who is the Chairman of the selection committee constituted for appointing
chairman and members of the District Forum (CDRF)?
(a) President of the State Commission
(b) Chief Justice of the High Court
(c) Secretary in charge of the Department dealing with consumer affairs in the State
(d) Minister in charge of the Department dealing with consumer affairs in the State
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30. Which of the following are the member of the selection committee constituted
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for appointing chairman and members of the District Forum (CDRF)?

(i) Minister in charge of the Department dealing with consumer affairs in the State
(ii) Secretary in charge of the Department dealing with consumer affairs in the State
(iii) Secretary, Law Department of the State
Codes:
(a) (i) & (ii)
(b) (ii) & (iii)
(c) (i) & (iii)
(d) (i), (ii) & (iii)
31. In the absence of the President of the State Commission, who will act as Chairman
of the Selection Committee constituted for appointing chairman and members of the
District Forum (CDRF)?

(a) Minister in charge of the Department dealing with consumer affairs in the State
(b) The Chief Justice of the High Court
(c) A sitting Judge of that High Court nominated by the Chief Justice of the High Court
(d) Secretary in charge of the Department dealing with consumer affairs in the State
32. The salary or honorarium and other allowances payable to the members of the
District Forum shall be be prescribed by ....................
(a) The Governor of the State
(b) The National Commission
(c) The Central Government
(d) The State Government
33.The District Forum shall have jurisdiction to entertain complaints where the
value of the goods or services and the compensation claimed does not exceed
..................... rupees
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(a) 50 lakhs
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(b) 20 lakhs

(c) 10 lakhs
(d) 5 lakhs
34. Maintaining a foreign currency account is helpful to
(A) Avoid transaction cost.
(B) Avoid exchange risk.
(C) Avoid both transaction cost and exchange risk.
(D) Avoid exchange risk and domestic currency depreciation
35. India’s foreign exchange rate system is?
(A) Free float
(B) Managed float

(C) Fixed .

(D) Fixed target of band
36. Abid Husain Committee is related to ?
1. Reform in taxes
2. Reform in government projects
3. Reform in small industries
4. Reform in middle level industries
37. Which of the following is/are true regarding FERA, 1973 -
a. Law violators were treated as criminal offenders
b. Enforcement Directorate had the power to arrest any person of suspicion
c. It aimed at minimizing dealings in forex and foreign securities
d. All of the above
38. The statutory basis for administration of foreign exchange in India is

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A. Foreign Exchange Regulation Act, 1973

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B. Conservation of foreign Exchange and Prevention of Smuggling Act.

C. Foreign Exchange Management Act, 1999
D. Exchange Control Manual
39. An authorised person under FEMA does not include
A. an authorised dealer
B. an authorised money changer
C. an off-shore banking unit
D. an exchange broke
40. The term 'loro account' means
A. our account with you
B. your account with us

C. their account with them

D. none of the above
41. The term 'Vostro account' means
A. our account with you
B. your account with us
C. their account with them
42. The market forces influencing the exchange rate are not fully operational under
A. floating exchange rate system
B. speculative attack on the market
C. fixed exchange rate system
D. current regulations of IMF
43. According to classification by IMF, the currency system of India falls under
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A. managed flatting
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B. independently floating

C. crawling peg
D. pegged to basked of currencies
44. Under fixed exchange rate system, the currency rate in the market is maintained
through
A. official intervention
B. rationing of foreign exchange
C. centralizing all foreign exchange operations with central bank of the country
45. The reduction in the value of a currency due to market forces is known as
A. revaluation

B. depreciation
C. appreciation
D. inflation
46. The largest foreign exchange market in the world is
A. New york
B. London
C. Japan
D. Swiss
47. For Karl Marx, where do our values come from?
a) They are a product of our upbringing and our parents.
b) They are a product of the economic system within which we live.
c) They are a product of social inequality.

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d) They are a product of what we are taught at school.

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48. What does Milton Friedman believe to be the sole responsibility of business?

a) The only social responsibility of business is to its shareholders.
b) Managers should act in ways that balance the interest of society and shareholders.
c) The primary responsibility organizations have is to its employees.
d) The primary responsibility organizations have is to its stakeholders.
49. What, according to Adam Smith, is the best way to promote collective interest?
a) Through government making decisions about what is in the public interest.
b) Through everyone working together to support each other.
c) Through everyone working on their own self-interest
d) Through individuals forgoing their personal interest for the good of the collective.
50. What is green washing?

a) Transforming products to be more ethical.

b) Making a product appear more ethical that it really is.
c) Converting the company to green production methods.
d) Convincing customers to buy ethically.
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THIS BOOK HAS COPYRIGHT UNDER Copyright (Amendment) Act, 2012

BOOK ON WHATSAAP/ TELEGRAM WITHOUT THE APPROVAL OF HILAL

HILAL AHMED WHATSAPP=9906837425

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convergence in copyright regimes in the developed world.

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The book is divided into 12 units.

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190001 HILAL AHMED

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STAY CONNECTED WITH MY YouTube CHANNEL

UNIT WISE 10000

HILAL AHMED WHATSAPP=9906837425

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UNIT-5 BUSINESS FINANCE

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UNIT-11 LEGAL ASPECTS OF BUSINESS

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a) Central Bank (RBI)

Q2. _______controls the supply of money and bank credit:

HILAL AHMED WHATSAPP=9906837425

b) Indian Banking Association

Q3. Which of the following is correct:

c) RBI rightly calls its credit policy as one of controlled expansion

d) All of the Above

Q4. Price Stability implies promoting ______with considerable emphasis on price

c) Strategic Financial Development

7|Page HILAL AHMED: WHATSAPP=9906837425

Q5. Restriction of Inventories and stock means:

b) Ban on Huge amount of Inventories by Central Monetary Authority

Q6. An open market operation is an instrument of monetary policy which involves

a) Bonds and Other local securities

b) Debentures and Shares

HILAL AHMED WHATSAPP=9906837425

Q7. Which among the following is correct about Sterlization:

a) Sterlization means re-cycling of foreign capital inflows to prevent appreciation of

b) Sterlization is carried out through open market operations.

c) To reduce the hurdles for implementation of sterlization, RBI uses a variety of

d) All of the Above

a) Statutory Liquidity Ratio

b) Cash Reserve Ratio

8|Page HILAL AHMED: WHATSAPP=9906837425

Q9. Which among the following is incorrect among Moral Suasion:

b) So that which may increases inflation

c) Because it does not add to economic development

d) All of the Above

10. The National Consumer Disputes Redressal Commission (National Commission)

(a) One crore

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(a) The President

(b) The Supreme Court of India

(c) The Ministry of Consumer Affairs

(d) No such option is available

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(a) with imprisonment for a term less than one month

(b) with imprisonment for a term less than one year

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(a) Central Government

(b) State Government