GS: Hindi / English · Language questions stay in their original language.
120 questions · 120 marks · 2 hours
Choose one option per question.
Tap an option to check it, or open “See answer”.
Correct answer: (B) Chain stores
A chain of retail shops owned and run by the manufacturers, selling standardized branded goods, is called chain stores.
Correct answer: (C) Statements II and III only
The WTO acts as a dispute settlement body, and developing-country status in it is self-declared—statements II and III are right. The WTO does not itself classify countries as developed or developing.
Correct answer: (A) The total sum of values of observations divided by the number of observations
The arithmetic mean is found by dividing the sum of the values of the observations by the number of observations.
Correct answer: (A) Median
The median is the value with as many observations below it as above—it divides the data exactly in the middle.
Correct answer: (B) Mean deviation
In mean deviation the deviations from a central value are taken without their signs, in absolute value, so that is the measure meant.
Correct answer: (B) Current period
The period for which an index number is worked out is called the current period; the period it is compared against is the base period.
Correct answer: (B) 30 years and 20 years
Take the present ages as 6x and 4x. Five years ago (6x − 5) : (4x − 5) = 5 : 3, so 18x − 15 = 20x − 25, that is x = 5. The ages are 30 years and 20 years.
Correct answer: (B) ₹100
Simple interest gives Alpha ₹2,000. Compounding gives Beta 10,000 × 1.1² − 10,000 = ₹2,100. The difference is ₹100.
Correct answer: (A) Actual sales − Sales at break-even point
The margin of safety is actual sales minus sales at the break-even point—it shows how far sales may fall before a loss begins.
Correct answer: (A) Uttar Pradesh
The Green Revolution succeeded best in Punjab, Haryana, western Uttar Pradesh and parts of Rajasthan, where irrigation was already in place.
Correct answer: (D) More than one of the above
The Mid-Day Meal Scheme, the Integrated Child Development Scheme and the Public Distribution System were all launched for the food and nutrition of the poor, so the answer is ‘more than one’.
Correct answer: (E) None of the above
A growing population, the brain drain and low educational standards are all problems of human capital formation in India, so the answer is ‘None of these’.
Correct answer: (B) Disguised unemployment is a common form of unemployment in rural India
Disguised unemployment is the chief form in rural India—more people work a field than it needs, and output does not fall if some withdraw.
Correct answer: (A) Profession
A profession calls for specialized knowledge and skill, and for a certificate from a professional body—a doctor or a chartered accountant, for instance.
Correct answer: (B) Development which meets the needs of present generation without compromising the ability of future generation to meet their own needs
By the Brundtland Commission (1987), sustainable development meets present needs without destroying the ability of future generations to meet their own.
Correct answer: (C) The Cooperative Societies Act, 1912
Cooperative societies must be registered under the Cooperative Societies Act, 1912.
Correct answer: (C) Global enterprises
Huge organizations that spread their industrial and marketing operations through a network of branches in many countries are called global enterprises, or multinationals.
Correct answer: (D) More than one of the above
CWC stands both for Central Water Commission and for Central Warehousing Corporation, so the answer is ‘more than one’.
Correct answer: (B) Ratio of amount assured
In multiple insurance each insurer bears the loss in the proportion its sum insured bears to the total sum insured—the principle of contribution.
Correct answer: (D) More than one of the above
Locker facility, warehousing and underwriting are all subsidiary services a bank provides, so the answer is ‘more than one’.
Correct answer: (C) Cryptography
Keeping information safe by turning it into an unreadable form is cryptography; the unreadable text it produces is ciphertext.
Correct answer: (C) Electronic Data Interchange
EDI stands for Electronic Data Interchange—the direct computer-to-computer exchange of business documents.
Correct answer: (B) Articles of Association
The powers, rights, remuneration, qualifications and duties of the directors are all set out in the Articles of Association, the company's internal rule book.
Correct answer: (A) A public company seeking investment from public
A prospectus is issued by a public company that wants investment from the public; one that does not invite the public files a statement in lieu of prospectus instead.
Correct answer: (D) More than one of the above
A name identical with that of an existing company, one closely resembling it, and one using the emblem of the Government of India or the United Nations are all undesirable—so the answer is ‘more than one’.
Correct answer: (A) October 2006
The Micro, Small and Medium Enterprises Development Act came into force in October 2006.
Correct answer: (A) Franchising
Permission to deliver services in another country under a specific copyright and tight control of operations is franchising; the same arrangement for goods is called licensing.
Correct answer: (C) Letter of Credit
An export licence needs the IEC number and a bank account, but a letter of credit is the importer's assurance of payment—it is not required for the licence.
Correct answer: (B) Indian Institute of Foreign Trade (IIFT)
The Indian Institute of Foreign Trade (IIFT) was set up mainly to professionalize the country's foreign trade management through training, research and the dissemination of data.
Correct answer: (A) Long-term trend
An arithmetic line graph shows how values rise and fall over time, which is how the long-term trend becomes visible.
Correct answer: (B) Self-help groups
Self-help groups encourage the habit of saving among the poor and tie them into the formal credit system, which loosens the hold of the moneylender.
Correct answer: (D) More than one of the above
Ease of starting the business, direct incentive and a sense of achievement are all merits of sole proprietorship, so the answer is ‘more than one’.
Correct answer: (D) More than one of the above
A public enterprise may take the form of a departmental undertaking, a statutory corporation or a government company, so the answer is ‘more than one’.
Correct answer: (B) Lease financing
Giving one party the right to use an asset against periodic payments is lease financing; ownership stays with the lessor.
Correct answer: (D) More than one of the above
Primary data and a census both gather information directly from the source, so the answer is ‘more than one’.
Correct answer: (C) Montreal
The ban on chlorofluorocarbons and on bromine and chlorine compounds came under the Montreal Protocol, since they damage the ozone layer.
Correct answer: (A) Preliminary contract
Contracts the promoters make with third parties on behalf of the proposed company, while it is being promoted, are called preliminary (or pre-incorporation) contracts.
Correct answer: (B) Reduction of the tax rates
Privatization policy covers disinvestment and the contraction of the public sector, but a cut in tax rates belongs to liberalization's tax policy, not to privatization.
Correct answer: (B) Real-Time Gross Settlement
RTGS stands for Real-Time Gross Settlement, in which every payment is settled singly and at once.
Correct answer: (B) 7
A public company needs at least seven members; a private company needs two.
Correct answer: (A) ₹33,000
With a profit of ₹5,000 on a sale price of ₹22,000, the book value was ₹17,000. Accumulated depreciation = 50,000 − 17,000 = ₹33,000.
Correct answer: (C) Net income is greater than the amount of working capital
Net income exceeding the amount of working capital compares two quantities of quite different kinds, so a shareholder would attach the least importance to it.
Correct answer: (E) None of the above
Market share, the ability to repay debt and next year's profit can each be forecast to some degree from the financial statements, but by the key none of them is taken as the hardest—so the answer is ‘None of these’.
Correct answer: (D) More than one of the above
In the conceptual framework the objectives of financial reporting rest both on the stewardship and performance of management and on the generally accepted accounting principles, so the answer is ‘more than one’.
Correct answer: (E) None of the above
The three major forms of business organization are sole proprietorship, partnership and company. No option gives these three, so the answer is ‘None of these’.
Correct answer: (D) More than one of the above
The human resource manager works with top management in framing policy and at the middle level in carrying it out, so the answer is ‘more than one’.
Correct answer: (C) Number of creditors
Growth is measured by the volume of sales and the number of employees, but a rising number of creditors is not growth—it is a sign of liability.
Correct answer: (B) Management increases efficiency
Cutting cost and raising productivity is exactly what efficiency means, so the statement brings out management's importance in increasing efficiency.
Correct answer: (A) ₹840
Simple interest = 600 × 10% × 4 = ₹240, so after four years the account stands at 600 + 240 = ₹840.
Correct answer: (C) a-3, b-2, c-1
Survival means the enterprise continuing to exist, profit is what keeps it running successfully, and growth is an increase in employees, products or capital—which gives the matching a-3, b-2, c-1.