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1.

Which among the following statement(s) is/are correct about Asian Infrastructure Investment Bank (AIIB)? Code:

Answer»

Which among the following statement(s) is/are correct about Asian Infrastructure Investment Bank (AIIB)?

Code:


2.

'Self-employment is more in rural areas than in urban areas'. Do you agree? Give reasons.

Answer»

'Self-employment is more in rural areas than in urban areas'. Do you agree? Give reasons.

3.

Suppose a TV was manufactured 5 years ago in 2013, and it had a market value of 50,000. However, demand for TVs was very low and so it was left unsold. Now, in 2018, it is sold for a market price of 80,000. What amount is added to the GDP of the economy in 2013 with respect to this single TV?

Answer»

Suppose a TV was manufactured 5 years ago in 2013, and it had a market value of 50,000. However, demand for TVs was very low and so it was left unsold.

Now, in 2018, it is sold for a market price of 80,000. What amount is added to the GDP of the economy in 2013 with respect to this single TV?


4.

Briefly discuss the industrial development pattern on the eve of Independence.

Answer»

Briefly discuss the industrial development pattern on the eve of Independence.

5.

Q14. Which of the following is to organize the traditional industries and artisans into clusters to make them competitive and provide support for their long-term sustainability by way of enhancing the marketability of products, improving the skills of artisans, making provision for common facilities and strengthening the cluster governance systems?

Answer»

Q14. Which of the following is to organize the traditional industries and artisans into clusters to make them competitive and provide support for their long-term sustainability by way of enhancing the marketability of products, improving the skills of artisans, making provision for common facilities and strengthening the cluster governance systems?


6.

Explain the lender of last resort function of the central bank.

Answer»

Explain the lender of last resort function of the central bank.


7.

Find the approximate value of f(5.001), where f (x) = x3 − 7x2+ 15.

Answer»

Find the approximate value of f
(5.001), where f (x) = x3 − 7x2
+ 15.

8.

Stringent measures adopted to cut down spending in order to overcome fiscal burden is called ___

Answer»

Stringent measures adopted to cut down spending in order to overcome fiscal burden is called ___

9.

What is actually GDP ?

Answer»

What is actually GDP ?

10.

What were the major differences in the approach towards development at the time of Independence? Has the debate been resolved?

Answer» What were the major differences in the approach towards development at the time of Independence? Has the debate been resolved?
11.

___ is the era of which geological time during which human activity is considered to be the dominant influence on the environment, climate and ecology of the earth.

Answer»

___ is the era of which geological time during which human activity is considered to be the dominant influence on the environment, climate and ecology of the earth.

12.

Value added refers to:

Answer»

Value added refers to:


13.

A fruit seller had some apples. He sells 40% apples and still has 420 apples. How many apples did he have originally ?

Answer» A fruit seller had some apples. He sells 40% apples and still has 420 apples. How many apples did he have originally ?
14.

‘क’ स्तम्भे विशेषणपदं दत्तम् ‘ख’ स्तम्भे च विशेष्यपदम्। तयोर्मेलनम् कुरुत- ‘क’ स्तम्भः ‘ख’ स्तम्भः (1) स्वस्था (क) कृत्यम् (2) महत्वपूर्णा (ख) पुत्री (3) जघन्यम् (ग) वृत्तिः (4) क्रीडन्ती (घ) मनोदशा (5) कुत्सिता (ङ) गोष्ठी

Answer» ‘क’ स्तम्भे विशेषणपदं दत्तम् ‘ख’ स्तम्भे च विशेष्यपदम्। तयोर्मेलनम् कुरुत-








































‘क’ स्तम्भः ‘ख’ स्तम्भः
(1) स्वस्था (क) कृत्यम्
(2) महत्वपूर्णा (ख) पुत्री
(3) जघन्यम् (ग) वृत्तिः
(4) क्रीडन्ती (घ) मनोदशा
(5) कुत्सिता (ङ) गोष्ठी
15.

​How are the following dealt with while preparing the final accounts of a sports club for the year ended 31st March , 2018? RECEIPTS AND PAYMENTS ACCOUNT ( AN EXTRACT ) for the year ended 31ST March, 2018 Dr. Cr. Receipts ₹ Payments ₹ To Sale of Sports Materials 26,000 ​By Creditors for Sports Materials 61,000 (Book value ₹ 20,000) By Cash purchase of Sports Materials 10,000 Additional information : As at 1st April, 2017 (₹) As at 31st March, 2018 (₹) Sports Materials 20,000 25,000 Creditors for Sports Materials 7,000 15,000

Answer» ​How are the following dealt with while preparing the final accounts of a sports club for the year ended 31st March , 2018?















































RECEIPTS AND PAYMENTS ACCOUNT ( AN EXTRACT ) for the year ended 31ST March, 2018



Dr.




Cr.
Receipts



Payments







To Sale of Sports Materials


26,000 ​By Creditors for Sports Materials 61,000
(Book value ₹ 20,000) By Cash purchase of Sports Materials 10,000





















Additional information :


















As at 1st April, 2017 (₹) As at 31st March, 2018 (₹)
Sports Materials 20,000 25,000
Creditors for Sports Materials 7,000 15,000



16.

Who among the following adopted an ‘open door’ policy?a. Chinab. EUc. Japand. USA

Answer» Who among the following adopted an ‘open door’ policy?



a. China

b. EU

c. Japan

d. USA
17.

What are the instruments of monetary policy of RBI?

Answer» What are the instruments of monetary policy of RBI?
18.

Hari maintains his books of account on Single Entry System. His books provide the following information: 1st April, 2018 (₹) 31st March, 2019 (₹) Furniture 2,000 2,000 Stock 28,000 30,500 Sundry Debtors 21,000 34,000 Cash 1,500 2,000 Sundry Creditors 17,500 19,000 Bills Receivable ... 3,000 Loan ... 5,000 Investments ... 10,000 His drawings during the year were ₹ 5,000 Depreciate furniture by 10% and provide a reserve for Bad and Doubtful Debts at 10% on Sundry Debtors.Prepare the statement showing the profits for the year.

Answer» Hari maintains his books of account on Single Entry System. His books provide the following information:


























































1st April, 2018

(₹)

31st March, 2019

(₹)

Furniture
2,000


2,000

Stock
28,000


30,500

Sundry Debtors
21,000


34,000

Cash
1,500


2,000

Sundry Creditors
17,500


19,000

Bills Receivable
...


3,000

Loan ... 5,000
Investments
...


10,000




His drawings during the year were ₹ 5,000 Depreciate furniture by 10% and provide a reserve for Bad and Doubtful Debts at 10% on Sundry Debtors.

Prepare the statement showing the profits for the year.
19.

Own account production of services is not included in national income because:A .Services are different from goodsB. Services are not productiveC. It is difficult to measure market value of such servicesD. None of these

Answer»

Own account production of services is not included in national income because:

A .Services are different from goods

B. Services are not productive

C. It is difficult to measure market value of such services

D. None of these

20.

The A.M., H.M. and G.M. between two numbers are 14415,15 and 12, but not necessarily in this order. Then H.M., G.M. and A.M. respectively are

Answer» The A.M., H.M. and G.M. between two numbers are 14415,15 and 12, but not necessarily in this order. Then H.M., G.M. and A.M. respectively are
21.

What arethe instruments of monetary policy of RBI? How does RBI stabilizemoney supply against exogenous shocks?

Answer»

What are
the instruments of monetary policy of RBI? How does RBI stabilize
money supply against exogenous shocks?

22.

A fruit seller had some apples. He sells 40% apples and still has 420 apples. How many apples did he have originally ?

Answer» A fruit seller had some apples. He sells 40% apples and still has 420 apples. How many apples did he have originally ?
23.

Out of 65 percent of total consumption of commercial energy in India, which of the following is the largest source?

Answer»

Out of 65 percent of total consumption of commercial energy in India, which of the following is the largest source?


24.

___ refers to a situation when a person who is willing and able to do work at existing wage rate but do not get work.

Answer»

___ refers to a situation when a person who is willing and able to do work at existing wage rate but do not get work.

25.

From the following Balance Sheet of JY Ltd. as at 31st March 2017, prepare a Cash Flow Statement: BALANCE SHEET as at 31st March, 2017 Particular Note No. 31st March, 2017 (₹) 31st March, 2016 (₹) I. EQUITY AND LIABILITIES 1. Shareholders' Funds (a) Share Capital 5,00,000 5,00,000 (b) Reserves and Surplus 1 1,00,000 (25,000) 2. Non-Current Liabilities Long-term Borrowings 2 2,50,000 1,50,000 3. Current Liabilities (a) Short-term Borrowings 3 1,50,000 1,10,000 (b) Short-term Provisions 4 1,25,000 75,000 Total 11,25,000 8,00,000 II. ASSETS 1. Non-Current Assets Fixed Assets–Tangible 5 6,00,000 4,50,000 2. Current Assets (a) Trade Receivables 2,75,000 2,25,000 (b) Cash and Cash Equivalents 50,000 25,000 (c) Short-term Loans and Advances 2,00,000 1,00,000 Total 11,25,000 8,00,000 Notes to Accounts Particular 31st March, 2017 (₹) 31st March, 2016 (₹) 1. Reserves and Surplus Surplus, i.e., Balance in Statement of Profit and Loss 1,00,000 (25,000) 1,00,000 (25,000) 2. Long-term Borrowings 10% Debentures 2,50,000 1,50,000 2,50,000 1,50,000 3. Short-term Borrowings Bank Overdraft 1,50,000 1,00,000 1,50,000 1,00,000 4. Short-term Provisions Provision for Tax 1,25,000 75,000 1,25,000 75,000 5. Tangible Assets Machinery 7,37,500 5,25,000 Accumulated Depreciation (1,37,500) (75,000) 6,00,000 4,50,000 Note: Proposed Dividend for the years ended 31st March, 2016 and 2017 are ₹ 50,000 and ₹ 75,000 respectively.Additional Information: ₹ 1,00,000, 10% Debentures were issued on 31st March, 2017.

Answer»








From the following Balance Sheet of JY Ltd. as at 31st March 2017, prepare a Cash Flow Statement:
































































































































BALANCE SHEET

as at 31st March, 2017

Particular



Note No.



31st March, 2017 ()



31st March, 2016 ()



I. EQUITY AND LIABILITIES



1. Shareholders' Funds



(a) Share Capital



5,00,000



5,00,000



(b) Reserves and Surplus



1



1,00,000



(25,000)



2. Non-Current Liabilities



Long-term Borrowings



2


2,50,000 1,50,000

3. Current Liabilities



(a) Short-term Borrowings



3



1,50,000



1,10,000



(b) Short-term Provisions



4



1,25,000



75,000



Total



11,25,000



8,00,000



II. ASSETS



1. Non-Current Assets



Fixed Assets–Tangible



5



6,00,000



4,50,000



2. Current Assets



(a) Trade Receivables



2,75,000



2,25,000



(b) Cash and Cash Equivalents



50,000



25,000



(c) Short-term Loans and Advances



2,00,000



1,00,000



Total



11,25,000



8,00,000






Notes to Accounts




















































































































Particular



31st March,



2017



()



31st March,



2016



()



1.



Reserves and Surplus



Surplus, i.e., Balance in Statement of Profit and Loss



1,00,000



(25,000)



1,00,000



(25,000)



2.



Long-term Borrowings



10% Debentures



2,50,000



1,50,000



2,50,000



1,50,000



3.



Short-term Borrowings



Bank Overdraft



1,50,000



1,00,000



1,50,000



1,00,000



4.



Short-term Provisions



Provision for Tax



1,25,000



75,000



1,25,000



75,000



5.



Tangible Assets



Machinery



7,37,500



5,25,000



Accumulated Depreciation



(1,37,500)



(75,000)



6,00,000



4,50,000





Note: Proposed Dividend for the years ended 31st March, 2016 and 2017 are ₹ 50,000 and ₹ 75,000 respectively.



Additional Information: ₹ 1,00,000, 10% Debentures were issued on 31st March, 2017.

26.

Do youconsider a commercial bank ‘creator of money’ in theeconomy’?

Answer»

Do you
consider a commercial bank ‘creator of money’ in the
economy’?

27.

In an economy S = - 50 + 0.5Y is the saving function (where S = saving and Y = national income) and investment expenditure is 7,000. Calculate (i) Equilibrium level of national income. (ii) Consumption expenditure at equilibrium level of national income.

Answer»

In an economy S = - 50 + 0.5Y is the saving function (where S = saving and Y = national income) and investment expenditure is 7,000. Calculate

(i) Equilibrium level of national income.

(ii) Consumption expenditure at equilibrium level of national income.

28.

Supposethe GDP at market price of a country in a particular year was Rs1,100 crores. Net Factor Income from Abroad was Rs 100 crores. Thevalue of Indirect taxes − Subsidies was Rs 150 crores andNational Income was Rs 850 crores. Calculate the aggregate value ofdepreciation.

Answer»

Suppose
the GDP at market price of a country in a particular year was Rs
1,100 crores. Net Factor Income from Abroad was Rs 100 crores. The
value of Indirect taxes − Subsidies was Rs 150 crores and
National Income was Rs 850 crores. Calculate the aggregate value of
depreciation.

29.

Which of the following was one of the most commonly used metals for coinage?

Answer»

Which of the following was one of the most commonly used metals for coinage?


30.

From the prices of shares X and Y below, find out which is more stable in value X35545253565852505149Y106107105105106107104103104101

Answer»

From the prices of shares X and Y below, find out which is more stable in value

X35545253565852505149Y106107105105106107104103104101

31.

What is value added tax?

Answer»

What is value added tax?

32.

Which of the following factors affect(s) the precautionary demand?

Answer»

Which of the following factors affect(s) the precautionary demand?


33.

How are the benefits of human capital different from that of physical capital?

Answer»

How are the benefits of human capital different from that of physical capital?

34.

What is the difference between demand deposits and time deposits?

Answer»

What is the difference between demand deposits and time deposits?

35.

The disadvantages for the government when it relies on external sources to fund a budget deficit are:

Answer»

The disadvantages for the government when it relies on external sources to fund a budget deficit are:


36.

Money which is accepted as a medium of exchange because of the trust between the payer and the payee is called:

Answer»

Money which is accepted as a medium of exchange because of the trust between the payer and the payee is called:


37.

Land and building are examples of which of the following?

Answer»

Land and building are examples of which of the following?


38.

How are calorie norms fixed for an average rural person and an average urban person in India for poverty line?

Answer»

How are calorie norms fixed for an average rural person and an average urban person in India for poverty line?

39.

If the rate of interest is high, the precautionary demand for money will be:

Answer»

If the rate of interest is high, the precautionary demand for money will be:


40.

Name our major trading partners at the time of independence and at present.

Answer»

Name our major trading partners at the time of independence and at present.

41.

Open market operation of RBI refers to:

Answer»

Open market operation of RBI refers to:


42.

67.A man saves rupees 200 in each of the first three months of his service in each of the subsequent month his shaving increases by rupees 40 more than the saving office immediately previous month find the total time for his total savings from the start of the service is 11040

Answer» 67.A man saves rupees 200 in each of the first three months of his service in each of the subsequent month his shaving increases by rupees 40 more than the saving office immediately previous month find the total time for his total savings from the start of the service is 11040
43.

How does investment in human capital contribute to growth?

Answer»

How does investment in human capital contribute to growth?

44.

M/s Beauty Products paid 18% GST on cosmetics worth Rs 6000 and sold to a customer for Rs 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued ?

Answer» M/s Beauty Products paid 18% GST on cosmetics worth Rs 6000 and sold to a customer for Rs 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued ?
45.

Calculate value added from the following data: Items(Rs. in crore)(i) Purchase of machineryto be used in the production unit100(ii) Sales200(iii) Intermediate costs90(v) Change in stocks10(vi) Excise duty6(vii) Stock of raw material5

Answer»

Calculate value added from the following data:

Items(Rs. in crore)(i) Purchase of machineryto be used in the production unit100(ii) Sales200(iii) Intermediate costs90(v) Change in stocks10(vi) Excise duty6(vii) Stock of raw material5

46.

If the RBI wants to increase the credit flow, it buys ______.

Answer»

If the RBI wants to increase the credit flow, it buys ______.


47.

Hired workers are paid wages or ___ as a reward for their services.

Answer» Hired workers are paid wages or ___ as a reward for their services.
48.

An auto company C Ltd., is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower-priced models for mass consumers who are price sensitive. For quality conscious consumers, the company is introducing new models with added features and new technological advancements. Identify the limitations of such plans.

Answer»

An auto company C Ltd., is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower-priced models for mass consumers who are price sensitive. For quality conscious consumers, the company is introducing new models with added features and new technological advancements.

Identify the limitations of such plans.


    49.

    The economic reforms were introduced to correct the severe fiscal and external imbalances of the Indian economy. State true or false.

    Answer»

    The economic reforms were introduced to correct the severe fiscal and external imbalances of the Indian economy. State true or false.

    50.

    Which of the following does not bear the signature of the Governor of the Reserve Bank of India?

    Answer» Which of the following does not bear the signature of the Governor of the Reserve Bank of India?