JUNE 2013 - Paper 3

46:  

Assertion (A) : The major economic powers have succeeded in creating a new international regime where the profits and the dominance of their transnational corporations will be the decisive consideration.

Reason (R) : This regime will legitimise the process of progressive erosion of the sovereign economic space of the third-world countries.

 

A.

Both (A) and (R) are correct, and (R) is the right explanation of (A).

B.

Both (A) and (R) are correct, but (R) is not the right explanation of (A).

C.

Both (A) and (R) are incorrect.

D.

(R) is correct, but (A) is not correct.

 
 

Option: B

Explanation :

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47:  

Transaction of Internet Banking excludes

 

A.

Withdrawal of cash anywhere in India.

B.

Statement of account for a specific period.

C.

Transfer of funds from one account to another account.

D.

Balance enquiry.

 
 

Option: A

Explanation :

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48:  

Statement (I) : Green Box subsidies include amount spent on Government services such as research, disease control, infrastructure and food security.

Statement (II) : Blue Box subsidies are certain direct payments made to farmers, to limit production, and are certain government assistance programmes to encourage agriculture and rural development.

 

A.

Statement (I) is correct, but (II) is not correct.

B.

Statement (II) is correct, but (I) is not correct.

C.

Both statement (I) and (II) are correct.

D.

Both statement (I) and (II) are incorrect.

 
 

Option: C

Explanation :

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49:  

If the book profits of a partnership firm is 1,10,000, the remuneration admissible to working partners under Sec.40(b) of the Income Tax Act, 1961 is

A.

Rs. 1,10,000

B.

Rs. 1,50,000

C.

Rs. 99,000

D.

None of the above

 
 

Option: B

Explanation :

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50:  

Social Balance Sheet shows

A.

Social costs

B.

Social revenues

C.

Value of employees of the organisation

D.

All of the above

 
 

Option: C

Explanation :

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