MAHA SET Commerce Solved Paper September 2020 (held in 2021) [Paper II-A]
MAHA SET Solved Question Paper Commerce
[Time: 2 hour, 120 Minutes; Maximum Marks: 200]
Note: This paper contains TWO HUNDERED(200) multiple choice questions, each carrying Two (2) marks. Attempt All questions.
In this post you will get MAHA SET Commerce Solved Paper September 2021 [Paper II-A] with Proper Explanation. MAHA SET General Paper 1 Solutions will also be available very soon on our website.
MAHA SET Exam is conducted every year by the Savitribai Phule Pune University. Question Papers of MAHA SET Exam is tough as compared to UGC NET Exam question paper. Syllabus of MAHA SET Exam and UGC NET exam is similar. You can refer MAHA SET Commerce syllabus for 2025 here.
1. A systematic assessment of an activity on some meaningful, definable domain of companies activities that have social impact is:
a) Environmental Audit.
b) Green Audit.
c) Social Audit.
d) Public Audit.
Ans: c) Social Audit.
2. Which one of the following is not an argument in favour of free trade?
a) Economic utilization of world productive resources.
b) Division of labour on an international scale.
c) Breaks the domestic monopolies.
d) Conservation of foreign exchange of the country.
Ans: d) Conservation of foreign exchange of the country.
3. UNCTAD is established by the United Nations General Assembly in ________ and it has its headquarters at ________.
a) 1964—Geneva.
b) 1965—New York.
c) 1964—Paris.
d) 1965—Geneva.
Ans: a) 1964—Geneva.
4. The International Monetary Fund in its world economic outlook published in Jan. 2019 has projected world output to grow at ________ percent.
a) 3.8.
b) 3.7.
c) 3.5.
d) 4.1.
Ans: c) 3.5.
5. X: Mexico is a member of NAFTA.
Y: NAFTA started functioning from 1st Jan. 1994.
a) Only X is true.
b) Only Y is true.
c) Both X and Y are true.
d) Both X and Y are false.
Ans: c) Both X and Y are true.
6. X: Balance of trade records export and import of only visible goods.
Y: It comprises of balance of trade.
a) Only X is correct.
b) Only Y is correct.
c) Both X and Y are incorrect.
d) Both X and Y are correct.
Ans: d) Both X and Y are correct.
7. Which of these is not an objective of protectionist trade strategy?
a) Protection of domestic industries.
b) Promoting indigenous research and development.
c) Protecting rights of nationals.
d) Conservation of foreign exchange reserves.
Ans: c) Protecting rights of nationals.
8. Match the columns:
|
Group A (Institutions/Events) |
Group B (Years) |
|
(1) GATT. (2) Bretton Woods Conference. (3) International Monetary Fund. (4) European Community. |
(a) 1947. (b) 1957. (c) 1944. (d) 1945. |
Code:
a) (1) – (a), (2) – (c), (3) – (d), (4) – (b).
b) (1) – (a), (2) – (b), (3) – (d), (4) – (c).
c) (1) – (a), (2) – (c), (3) – (b), (4) – (d).
d) (1) – (a), (2) – (b), (3) – (c), (4) – (d).
Ans: a) (1) – (a), (2) – (c), (3) – (d), (4) – (b).
9. Which of the following is not a method under foreign direct investment?
a) Wholly owned subsidiary.
b) Joint venture.
c) Global depository receipts.
d) Acquisition.
Ans: c) Global depository receipts.
10. As per the recent FDI policy, 100 per cent investment through automatic route is not allowed in ________.
a) Petroleum refining by the PSUs.
b) Oil and natural gas exploration.
c) Mining and minerals.
d) Plantation.
Ans: a) Petroleum refining by the PSUs.
11. Omission of paise and showing the round figures in financial statements is based on ________.
a) Conservatism concept.
b) Consistency concept.
c) Materiality concept.
d) Realization concept.
Ans: c) Materiality concept.
12. Which SA deals with audit sampling?
a) SA 530.
b) SA 400.
c) SA 610.
d) SA 500.
Ans: a) SA 530.
13. Which of the following denotes a target cost?
a) Market price—Desired profit margin.
b) Standard selling price— Standard profit margin.
c) Standard selling price—Target profit margin.
d) Market price—Return on investment.
Ans: a) Market price—Desired profit margin.
14. ABC Ltd. has a current ratio of 1.5 : 1 and net current assets of Rs. 5,00,000. What are the current assets?
a) Rs. 5,00,000.
b) Rs. 10,00,000.
c) Rs. 15,00,000.
d) Rs. 25,00,000.
Ans: c) Rs. 15,00,000.
15. Which one of the following is not a contingent liability?
a) B/R discounted but not matured.
b) Underwriting commission payable.
c) Arrears of cumulative dividend on preference shares.
d) Uncalled capital on investments.
Ans: b) Underwriting commission payable.
16. An audit report of company says that ‘‘Company has not provided depreciation for the year amounting to Rs. 8,50,000, subject to this reservation, we report that balance sheet says true and fair view. This report is called as ________.
a) Clean report.
b) Qualified report.
c) Adverse report.
d) Disclaimer of opinion.
Ans: b) Qualified report.
17. Activity-based costing ________.
a) may be used with job order but not process costing.
b) may be used with process but not job order costing.
c) trends to increase the number of cost pools.
d) trends to decrease the number of cost pools.
Ans: c) trends to increase the number of cost pools.
18. XYZ Ltd. has a debt-equity ratio of 1.5 as compared to 1.3 Industry average. It means that the firm has:
a) Higher liquidity.
b) Higher financial risk.
c) Higher profitability.
d) Higher capital employed.
Ans: b) Higher financial risk.
19. Which of the following is a result of separate entity concept?
a) Research and development.
b) Buying and selling.
c) Owners capital and drawings.
d) Sale of scrap.
Ans: c) Owners capital and drawings.
20. Varsha and Monica are partners sharing profit and losses in the ratio of 3 : 2 having the capital of Rs. 80,000 and Rs. 50,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profit. During the year firm earned Rs. 7,800 after allowing interest on capital. Profit apportioned among Varsha and Monica is:
a) Rs. 4,680 and Rs. 3,120.
b) Rs. 5,000 and Rs. 2,800.
c) Rs. 4,800 and Rs. 3,000.
d) Rs. 4,680 and Rs. 2,800.
Ans: a) Rs. 4,680 and Rs. 3,120.
21. Usually, the demand for necessities is ________.
a) Highly elastic.
b) Infinitely elastic.
c) Highly inelastic.
d) Unitary elastic.
Ans: c) Highly inelastic.
22. The price elasticity of demand for addictive products like cigarettes and alcohol would be ________.
a) Greater than 1.
b) Less than 1.
c) Infinity.
d) One.
Ans: b) Less than 1.
23. Which one of the following products has highly inelastic demand?
a) Jewellery.
b) Television set.
c) Salt.
d) Sports car.
Ans: c) Salt.
24. Which of the following is not a method of measuring price elasticity of demand?
a) Ratio method.
b) Outlay method.
c) Psychological method.
d) Geometrical method.
Ans: c) Psychological method.
25. Usually, isoquant are ________.
a) Concave to the origin.
b) Convex to the origin.
c) Parallel to the origin.
d) Perpendicular to the origin.
Ans: b) Convex to the origin.
26. Average cost and Marginal cost curves are U shaped and ________.
a) Average cost curve cuts marginal cost curve from below.
b) Marginal cost curve cuts average cost curve from below.
c) Average cost and marginal cost curves are one and the same.
d) After intersection, average cost exceeds marginal cost.
Ans: b) Marginal cost curve cuts average cost curve from below.
27. Which of the following is not true?
a) Opportunity cost is the cost of alternative opportunity lost.
b) During short-run some factors are fixed.
c) Variable cost is a prime cost.
d) Total cost = Total fixed cost + Average variable cost.
Ans: d) Total cost = Total fixed cost + Average variable cost.
28. Additional cost incurred on producing one more unit is known as ________.
a) Average cost.
b) Marginal cost.
c) Implicit cost.
d) Accounting cost.
Ans: b) Marginal cost.
29. The imposition of a lump sum tax will result in ________ of both the Average Fixed Cost (AFC) and the Average Total Cost (ATC) curves.
a) Upward shift.
b) Downward shift.
c) Leftward shift.
d) Rightward shift.
Ans: a) Upward shift.
30. The demand curve for a perfectly competitive firm is ________.
a) Horizontal straight line.
b) Vertical straight line.
c) Upward sloping curve.
d) Downward sloping curve.
Ans: a) Horizontal straight line.
31. Which of the following is not a function performed by a financial system?
a) Savings functions.
b) Liquidity functions.
c) Risk functions.
d) Social functions.
Ans: d) Social functions.
32. Which of the following statements is not the assumption of Modigliani- Miller approach?
a) Corporate Income Tax is assumed to be absent.
b) There does not exist any transaction cost.
c) The dividend payout ratio is 100 percent.
d) Personal leverage and corporate leverage are not perfect substitutes.
Ans: d) Personal leverage and corporate leverage are not perfect substitutes.
33. The process of converting cash flow into present equitable is called:
a) Discounting.
b) Compounding.
c) Rationing.
d) Budgeting.
Ans: a) Discounting.
34. Which of the following factors does not affect on the capital structure of the company?
a) Cost of capital.
b) Composition of current assets.
c) Expected nature of cash flow.
d) Dilution of control.
Ans: b) Composition of current assets.
35. Dr. Gupta purchased 400 shares of Glaxo Ltd. @ Rs. 61 each on 15th October, 2014. He paid brokerage of Rs. 600. The company paid dividend as follows:
|
June, 2015 June, 2016 June, 2017 |
Rs.800 Rs. 1,000 Rs. 1,200 |
a) 16.67%.
b) 18.23%.
c) 14.76%.
d) 13.47%.
Ans: a) 16.67%.
36. The method of raising equity capital from existing members by offering securities on pro-rata basis is referred to as ________.
a) Public issue.
b) Right issue.
c) Bonus issue.
d) Private placement.
Ans: b) Right issue.
37. Below ________ level of sales NPV is negative and above this level the NPV is positive in multinational capital budgeting.
a) Risk adjusted cash flow.
b) Sensitivity level analysis.
c) Simulation.
d) Break-even.
Ans: d) Break-even.
38. Nominal interest rate is the product of:
a) Real interest rate and rate of inflation.
b) Real interest rate and exchange rate.
c) Exchange rate and market rate.
d) Real interest rate and market rate.
Ans: a) Real interest rate and rate of inflation.
39. International capital budgeting incorporates:
a) Only financial factors.
b) Financial and non-financial factors.
c) Only the non-financial factors.
d) Qualitative factors.
Ans: b) Financial and non-financial factors.
40. Multilateral Investment Guarantee Agency (MIGA):
a) Is a sister institution of the World Bank.
b) Is an insurance agency of the US Govt.
c) Is a part of Asian Development Bank.
d) Is a sister institution of International Development Agency.
Ans: a) Is a sister institution of the World Bank.
41. Arithmetic mean of salary of 100 males in a company is Rs. 20,000 per month and that of 50 females is Rs. 17,000 per month. The arithmetic mean of salary of the combined group of males and females in the company is ________ per month.
a) Rs. 20,000.
b) Rs. 19,000.
c) Rs. 18,000.
d) Rs. 17,000.
Ans: b) Rs. 19,000.
44. Given that:
|
Rank of X |
1 |
2 |
3 |
4 |
5 |
|
Rank of Y |
5 |
4 |
3 |
2 |
1 |
The Spearman’s rank correlation is ________.
a) 1.
b) 0.
c) – 1.
d) 1/2.
Ans: c) – 1.
45. Which of the following statements is always true for Poisson distribution?
a) mean > variance.
b) mean = variance.
c) mean < variance.
d) mean = standard deviation.
Ans: b) mean = variance.
46. For testing equality of two population proportions we use ________ test.
a) F.
b) Chi-square.
c) t.
d) z. Ans: d) z.
47. In one-way analysis of variance suppose there are k treatments and n is the total number of observations then the degree of freedom for error sum of squares will be ________.
a) n – 1.
b) k – 1.
c) nk – 1.
d) n – k.
Ans: d) n – k.
48. As sample size increases sampling errors ________.
a) Increase.
b) Decrease.
c) Do not change.
d) May increase or decrease.
Ans: b) Decrease.
49. ‘‘________’’ means the practice of taking someone else’s work or idea and passing them as one’s own.
a) Plagiarism.
b) Source.
c) Script.
d) Integrity.
Ans: a) Plagiarism.
50. The advantages of ________ is that it avoids reinventing the wheel of research work.
a) Sampling.
b) Review of literature.
c) Objectives of the study.
d) Hypothesis of the study.
Ans: b) Review of literature.
51. The book ‘Human Side of Enterprise’ is authored by:
a) Rensis Likert.
b) Peter Drucker.
c) Douglas McGregor.
d) Elton Mayo.
Ans: c) Douglas McGregor.
52. ________ is not the example of inherited characteristics.
a) Intelligence.
b) Age.
c) Religion.
d) Perception.
Ans: d) Perception.
53. For performance appraisal ________ prefers to use the term staff assessment.
a) Megginson.
b) Cumming.
c) Levinson.
d) Armstrong.
Ans: b) Cumming.
54. _______ is not the characteristic feature of informal organization.
a) Informal relations are unplanned, arise spontaneously.
b) Informal organisation reflects human relationships.
c) Formation of informal organisation is a natural process.
d) Informal organisation is hierarchical, pyramid-shaped and bureaucratic in structure with well defined positions.
Ans: d) Informal organisation is hierarchical, pyramid-shaped and bureaucratic in structure with well defined positions.
55. ________ cannot be considered as the ethical principle.
a) Sacredness of means and ends.
b) Not to do any evil.
c) Equivalent price.
d) Indemnity.
Ans: d) Indemnity.
56. Which one of the following is not the factor that increases resistance to change?
a) Lack of communication.
b) Rapidity and extent of change (Major or rapid changes).
c) Group resistance.
d) Participation and involvement of employees.
Ans: d) Participation and involvement of employees.
57. Which one of the following is not true about the delegation of authority? Delegation of authority may be ________.
a) Specific or general.
b) Written or unwritten.
c) Precise or vague.
d) Upward or downward.
Ans: d) Upward or downward.
58. Zero based budgeting is the new approach to budgeting which was introduced by:
a) Peter Thiel.
b) Peter Drucker.
c) Peter Pal.
d) Peter Phyrr.
Ans: d) Peter Phyrr.
59. Which one of the following is not the external factor affecting recruitment?
a) Economic.
b) Social.
c) Cultural.
d) Future expansion and reduction programmes.
Ans: d) Future expansion and reduction programmes.
60. The word Organisational Development (OD) was coined in the mid 1950 by ________.
a) Wendell French.
b) Richard Bekhard.
c) Harold Rush.
d) Warren Bennis.
Ans: b) Richard Bekhard.
61. The best procedure for opening an account in the name of a minor ‘X’ and the guardian ‘Y’ would be under style:
a) ‘X’ Account.
b) ‘X’ Account—Minor.
c) ‘Y’ in trust for ‘X’.
d) ‘Y’ Account.
Ans: c) ‘Y’ in trust for ‘X’.
62. The ‘Bankers’ fair practice code was brought out in June 2004 by ________.
a) I.B.A. (Indian Bankers’ Association).
b) R.B.I.
c) Govt. of India.
d) Ministry of Finance.
Ans: a) I.B.A. (Indian Bankers’ Association).
63. Which of the following is not a quantitative measure of risk?
a) Risk measurement based on sensitivity.
b) Risk measurement based on volatility.
c) Risk measurement based on downside potential.
d) Risk measurement based on pricing.
Ans: d) Risk measurement based on pricing.
64. ________ is the credit limit for funded or non-funded business allowed by bank or financial institutions to other banks or Government to other parties.
a) Lines of credit.
b) Authorised credit.
c) Approved credit limit.
d) Regulated credit limit.
Ans: a) Lines of credit.
65. ‘Not negotiable’ crossing is warning to the ________.
a) Paying banker.
b) Collecting banker.
c) Holder.
d) a) and b) together.
Ans: c) Holder.
66. ________ is a measure of sensitivity of future cash flows and profits of a bank to unanticipated exchange rate changes.
a) Translation exposure.
b) Transaction exposure.
c) Operating exposure.
d) Operational exposure.
Ans: c) Operating exposure.
67. AAA symbol used by CRISIL describes ________.
a) Highest Credit Quality.
b) High Credit Quality.
c) Adequate Credit Quality.
d) Moderate Credit Quality.
Ans: a) Highest Credit Quality.
68. ________ have jointly promoted the National Securities Depository Limited (NSDL).
a) ICICI, GIC, SBI.
b) SHCIL, NSCC, IFCI.
c) IDBI, UTI, NSEI.
d) NSCC, IFCI, ICICI.
Ans: c) IDBI, UTI, NSEI.
69. ________ is an exchange of specific streams of payment over an agreed period of time.
a) Swap.
b) Premium.
c) Future.
d) Option.
Ans: a) Swap.
70. Operational risk arises from ________.
a) Default.
b) External events.
c) People and system.
d) Inadequate internal process.
Ans: b) External events.
71. ________ divides buyers into groups based on their knowledge, attitudes, uses or responses to a product.
a) Geographic segmentation.
b) Demographic segmentation.
c) Psychographic segmentation.
d) Behavioural segmentation.
Ans: d) Behavioural segmentation.
72. ________ value is the perceived benefit received from a product as an outcome of some particular occasion or situation.
a) Novelty.
b) Conditional.
c) Emotional.
d) Social.
Ans: b) Conditional.
73. People, planet and profit are another 3 P’s associated with ________.
a) Virtual marketing.
b) Green marketing.
c) International marketing.
d) Rural marketing.
Ans: a) Virtual marketing.
74. _______ consists of launching the new product at a low price and spending heavily on promotion.
a) Rapid-skimming strategy.
b) Slow-skimming strategy.
c) Rapid-penetration strategy.
d) Slow-penetration strategy.
Ans: c) Rapid-penetration strategy.
75. ________ is the positive differential effect that knowing the brand name has on consumer response to the product or service.
a) Brand equity.
b) Brand loyalty.
c) Perceived quality.
d) Brand association.
Ans: a) Brand equity.
76. A further 3 P’s are incorporated in marketing of services:
a) Process, political power, people.
b) Process, physical evidence, people.
c) People opinion, process, power.
d) Price, power, people.
Ans: b) Process, physical evidence, people.
77. ________ are special displays, racks, show cases, banners, exhibits, signage’s etc. that are placed in the retail store to support the sale of a brand by the manufacturer or marketers.
a) Merchandise dealer.
b) Point of purchase.
c) Promotion.
d) Brokers.
Ans: b) Point of purchase.
78. ________ involves consumer to consumer marketing, where consumer directly sell products or services to other consumers using the internet.
a) B2C.
b) B2B.
c) B2A.
d) C2C.
Ans: d) C2C.
79. From the point of view of consumer, promotion concept means ________.
a) Selling.
b) Delivering goods and services.
c) Communication.
d) Solution to consumer problems.
Ans: c) Communication.
80. ________ means classification of standardized products into certain well defined classes or groups.
a) Standardization.
b) Gradation.
c) Simplification.
d) Diversification.
Ans: b) Gradation.
81. The time for revocation of offer and acceptance is defined u/s ________ of the Indian Contract Act, 1872.
a) 5.
b) 4.
c) 3.
d) 25.
Ans: a) 5.
82. What does ‘I’ stands for in IGST?
a) International.
b) Internal.
c) Integrated.
d) Intra.
Ans: c) Integrated.
83. What is the fee for getting information under RTI Act 2005?
a) Rs. 20.
b) Rs. 50.
c) Rs. 100.
d) Rs. 10.
Ans: d) Rs. 10.
84. As per Section ________ of the Patent Act, patent is not be granted in respect of an invention relating to atomic energy.
a) 4.
b) 1.
c) 2.
d) 3.
Ans: a) 4.
85. Which of the following forms are used for GST registration?
a) GSTR-1.
b) GSTAPL-01.
c) GST REG-01.
d) GST RED-01.
Ans: c) GST REG-01.
86. Match the following groups:
|
Group – I |
Group – II |
|
(1) Lalman Shukla Vs. Gauri Datt (1913). (2) Thomas Vs. Thomas (1842). (3) Burnard Vs. Haggis (1863). (4) Peek Vs. Gurney (1873). |
(a) Acceptance. (b) Consideration. (c) Capacity to contract. (d) Misrepresentation. |
Codes:
a) (1) – (a), (2) – (b), (3) – (c), (4) – (d).
b) (1) – (d), (2) – (c), (3) – (b), (4) – (a).
c) (1) – (b), (2) – (a), (3) – (d), (4) – (c).
d) (1) – (c), (2) – (d), (3) – (a), (4) – (b).
Ans: a) (1) – (a), (2) – (b), (3) – (c), (4) – (d).
87. Match the following groups with reference to Information Technology Act 2000:
|
Group – I |
Group – II |
|
(1) Access. (2) Computer. (3) Data. (4) Digital Signature. |
(a) Sec. 2(1)(a). (b) Sec. 2(1)(i). (c) Sec. 2(1)(o). (d) Sec. 2(1)(p). |
a) (1) – (a), (2) – (b), (3) – (c), (4) – (d).
b) (1) – (b), (2) – (c), (3) – (d), (4) – (a).
c) (1) – (b), (2) – (a), (3) – (d), (4) – (c).
d) (1) – (b), (2) – (d), (3) – (c), (4) – (a).
Ans: a) (1) – (a), (2) – (b), (3) – (c), (4) – (d).
88. ________ is defined in chapter XI from section 65 to 78 of the Information Technology Act 2000.
a) Offences.
b) Penalties.
c) Cyber Appellate Tribunal.
d) Electronic Governance.
Ans: b) Penalties.
89. The Central Chief Information Commissioner (CIC) is appointed by ________.
a) President.
b) Vice-President.
c) Prime Minister.
d) Home Minister.
Ans: a) President.
90. Every LLP has to file an annual return duly authenticated with the Registrar within ________ days of closure of its financial year.
a) 45.
b) 120.
c) 60.
d) 90.
Ans: c) 60.
91. Income which accrues in Singapore from business not controlled from India is ________.
a) Taxable only for a non-resident.
b) Not taxable for non-resident.
c) Taxable only for resident but not ordinarily resident.
d) Not taxable in case of all types of assessees.
Ans: c) Taxable only for resident but not ordinarily resident.
92. Gross total income has computed under Income Tax Act for A.Y. 2018-2019 of Mr. Sarjerao is Rs. 3,30,000. He deposits Rs. 12,000 in PPF and Rs. 8,000 in National Savings Certificate VIII series. His agricultural income is Rs. 3,50,000, then tax payable by him will be ________.
a) Rs. 3,000.
b) NIL.
c) Rs. 9,790.
d) Rs. 32,500.
Ans: c) Rs. 9,790.
93. Miss Smita purchased residential property at New Mumbai for a consideration of Rs. 50,00,000, value for stamp duty purpose of that property was Rs. 46,00,000, then how much tax she should deduct as tax at source u/s 194 IA of Income Tax Act from payment to be made to the sellers?
a) NIL.
b) Rs. 50,000.
c) Rs. 46,000.
d) Rs. 10,000.
Ans: b) Rs. 50,000.
94. Mr. Bhushan owns a house property, its municipal value is Rs. 1,20,000 while fair rent is Rs. 1,80,000, Municipal taxes are 25%. The house was let out for first 5 months of the previous year for Rs. 14,000 per month. The house was self-occupied for the remaining months. Net annual value of the property is ________.
a) Rs. 1,40,000.
b) Rs. 30,000.
c) Rs. 1,50,000.
d) Rs. 80,000.
Ans: c) Rs. 1,50,000.
95. Gratuity received by a Director who, under the relevant contract, is not an employee or servant of a company is assessable under the head of income ________.
a) Salaries.
b) Business.
c) Profession.
d) Other sources.
Ans: d) Other sources.
96. On 12th December, 2018 Sachin (a minor child) received gift of Rs. 5,00,000 from other than his relative persons. On the same day the amount was deposited in bank on which interest of Rs. 14,750 was received for the previous year ending 31st March, 2019. Then his income will be clubbed with ________.
a) Father’s income Rs. 5,00,000.
b) Mother’s income Rs. 2,50,000 and father’s income Rs. 2,50,000.
c) Father’s income Rs. 5,13,250.
d) Father’s income Rs. 5,13,250 or mother’s income Rs. 5,13,250, at the option of parents.
Ans: c) Father’s income Rs. 5,13,250.
97. In case of non-corporate assessee expenditure which do not qualify for deduction under section 35D(2) is:
a) Preparation Feasibility Report.
b) Preparation of Project Report.
c) Conducting Market Survey.
d) Expenditure on Acquisition of Machinery.
Ans: d) Expenditure on Acquisition of Machinery.
98. Which of the following considerations is not taken into account in make or buy decision in tax planning?
a) Utilisation of capacity.
b) Inadequacy of funds.
c) Latest technology.
d) Market for the product.
Ans: d) Market for the product.
99. As per section 44ADA, resident assessee engages in specified profession has to pay income tax at ________ of Gross Receipts not exceeding Rs. 50,00,000 in a previous year.
a) 30%.
b) 8%.
c) 50%.
d) 10%.
Ans: c) 50%.
100. Rebate for resident individual having total income upto Rs. 3,50,000 for AY 2019-20 under section 87-A of Income Tax Act, 1961 is:
a) 100% of Income Tax or Rs. 2,000 which is lower.
b) 100% of Income Tax or Rs. 5,000 whichever is lower.
c) 100% of Income Tax or Rs. 2,500 whichever is lower.
d) 100% of Income Tax or Rs. 3,500 whichever is lower.
Ans: c) 100% of Income Tax or Rs. 2,500 whichever is lower.
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