June 2014 - Paper 2

26:  

Subsequent expenditures that extend the useful life, improve the quality of output, or reduce operating costs of an existing asset beyond their originally estimated levels are

A.

Capital expenditures

B.

Revenue expenditures

C.

Deferred Revenue expenditures

D.

None of the above

 
 

Option: A

Explanation :

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27:  

There is acute shortage of electricity in some of the states in India. This reflects a problem in which type of business environment?

A.

Economic

B.

Demographic

C.

Politico-legal

D.

Socio-cultural

 
 

Option: A

Explanation :

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28:  

Assertion (A) : A perfectly competitive firm is not a pricemaker but is a price-taker.

Reason (R) : The firm is interested in deciding the level of output only.

A.

Both (A) and (R) are true.

B.

Both (A) and (R) are false.

C.

(A) is false, while (R) is true.

D.

(A) is true, but (R) is not a correct explanation of (A).

 
 

Option: D

Explanation :

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29:  

The idea that a manager tends to be promoted to a level of his incompetence is referred to as

A.

the advancement principle

B.

the Paul principle

C.

the Peter principle

D.

the job design principle

 
 

Option: C

Explanation :

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30:  

Taylor's differential piece work plan provides that

A.

All labourers should be assigned different amount of work.

B.

All labourers should be put in different time-period.

C.

Those who produce above standard should receive higher wages than those producing below standard.

D.

Payment should be the same on a fixed Standard.

 
 

Option: A

Explanation :

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