NTA UGC NET/JRF Exam, June 2020 Commerce (Morning-Shift)

Total Questions: 100

31. In which of the following price adjustment strategies, a company reduces prices to reward customer responses such as volume purchases, paying early or promoting the product?

Correct Answer: (a) Discount and allowance pricing
Solution:

(1) Discount and allowance pricing is a price adjustment strategy where a company reduces price to reward customer response such as volume purchases, paying early, or promoting the product.

(2) Psychological pricing- Adjusting prices psychological effect.

(3) Promotional pricing- Temporarily reducing prices to| increase short-run sales.

(4) Dynamic pricing- Adjusting prices continually to| meet the characteristics and needs of individual customers and situations.

32. Some doctors charge patients for missed appointments because the service value existed only at that point and disappeared when the patient did not show up, is an example of which one of the following four service characteristics?

Correct Answer: (d) Perishability
Solution:

(1) Perishability- means that services cannot be stored| for later sale or use
(2) Inseparability- Which means that services are| produced and consumed at the same time.
(3) Intangibility- means that services cannot be seen| tasted. Felt, heard or shelled before they are bought.
(4) Variability- it refers to the fact that the quality of] services can very greatly, depending on who provides them and when, where, and how.

33. Which one is False as per the relevant provisions of the Indian Contract Act, 1872?

Correct Answer: (b) Assignment is the obvious mode of discharge of a contract
Solution:

All agreements are not contract only those agreements which are enforceable by law are 'contracts'.Following are the essential requirements of a valid contract. U/S-10
offer and its acceptance
free constant of both parties. U/S-14
lawful consideration - U/S 2(d)
Possibility of performance
Necessary legal formality.

34. Which of the following is not an implied condition in a contract of sale ?

Correct Answer: (d) Condition as to free from encumbrances
Solution:

Transfer or Agreut to transfer the ownership of goods
The subject matter of the contract must necessarily be goods
The consideration is price
A contract of sale may be in writing or by oral
All other essentials of a valid contract must be present
There must be at least 'two' parties
Condition as to quality or fitness

35. Which of the following does not come under the definition of "Information" under RTI Act, 2005?

Correct Answer: (c) File Noting in the process
Solution:

Section 2(F) of the RTI Act defines 'information' as any material in any form, including records, documents memos, e-mails, opinions, advice, press releases, circulars, orders. logbook, contracts, reports, papers, samples, models, data-material held in any electronic form and information relating to any| private body which can be accessed by a public authority under any other law for the time being in force.

36. Under which section of Information Technology Act of 2000, updated in 2008, stealing any digital asset or information is considered as cyber crime?

Correct Answer: (a) Section 65
Solution:

Section 65- of the information technology act, of 2000, updated in 2008. Stealing any digital asset or| information is considered as cyber crime.

37. Which one of the following statements is true for the set off and carry forward of loss under the head 'house property’ in India?

Correct Answer: (a) Can be carried forward for 8 years
Solution:

The loss from house property is allowed to be| carried forward for '8' Assessment year such loss should be set off in the subsequent assessment year if there is income under head mouse property.
the balance which has not been set off shall be carried forward to the next Assessment year.

38. Surcharge of 10% (percent) is payable by an Individual where the total income exceeds:

Correct Answer: (c) Rs. 50,00,000
Solution:

A surcharge of 10% is levied if an individual income is '50' Lakh to 1 crore.
A surcharge of 15% is levied if the individuals| income is 'l' crore to '2' crore.
A surcharge of 25%' is levied if the individual income is '2' crore to 'S' crore.
A surcharge of '37%' is levied if the individual income is above '5' crore.

39. Mohan, has rendered his services in India and retired in 2015. He then shifted and settled in Singapore. The pension recelved by him for such services would be...........

Correct Answer: (d) Deemed to accrue or arise in India
Solution:

If a person retires from service in India and lives abroad and receives pension from employment then such pension is considered to accrue in India.

40. Sugam is also known as:

Correct Answer: (c) ITR-4
Solution:

ITR-1 SAHAJ from is not for non-ordinary resident or for an individual who is either director in a company| or has done Investment in unlisted equity share.
ITR-2 is filed by the individuals of HUFs who is earning income other than Income from "Profits and| gains from business or profession and the individuals who are not eligible to fill ITR-1 from"
ITR-4 SUGAM Form is for the tax payers who have| opted for the presumptive income scheme under section| '44AD' sec, '44ADA" and sec '44AE' of the income tax| act.
ITR-6 is a tax return form for all the companies| 'which not claiming the exemption U/S 11 (Income from| property held for charitable or religious purposes.