PGT Commerce Level-3 (HTEТ), Exam 2020

Total Questions: 150

91. The Central Consumer Protection Council is headed by:

Correct Answer: B. The Minister Incharge of the Consumer Affairs in the Central Government

92. The step in the selling process in which the sales person identifies qualified potential customers:

Correct Answer: C. Prospecting

93. Which among the following is not included in uses of funds?

Correct Answer: D. Purchase of fixed asset against shares

94. The combination of inflation and recession is:

Correct Answer: A. Stagflation

95. It is estimated that for producing one unit of product ‘Y’, 5 kgs of material are consumed. The standard price per kg of material is ₹ 1.50. During the month of October, 7000 kgs of material @ ₹ 1.60 per kg were used for producing 1500 units of ‘Y’. Calculate material cost variance, material price variance, and material usage variance:

Correct Answer: C. ₹ 50 (F), ₹ 700 (A), ₹ 750 (F)

96. Adjusting prices continually to meet the characteristics and needs of individual customers and situations is:

Correct Answer: C. Dynamic Pricing

97. Wage rate ₹ 30 per hour; standard time 6 hours, and actual time taken 4 hours. Ascertain total amount of wages earned under Rowan Plan:

Correct Answer: B. ₹ 160

98. Which among the following is a long-term solvency ratio?

Correct Answer: B. Proprietary ratio

99. People shift their spending across food, housing, transportation, health care, and other goods and services categories as family income rises. The law known as:

Correct Answer: A. Engel's Law

100. The relationship between the tax rate and the amount of tax revenue collected is:

Correct Answer: B. Laffer curve