June 2014 - Paper 3

1:  

Match the following :

    

List - I

List - II

(i)  Dumping

(a)  Monopolistic competitive firm

(ii) Kinked Revenue Curve

(b)  Oligopoly firm

(iii) Horizontal straight line revenue curve

(c) Perfectively competitive firm

(iv) Large number of buyers and sellers with differentiated products

(d) Discriminatory monopoly

 

A.

Codes:

(i) (ii) (iii) (iv)

(a) (d) (c) (b)

B.

Codes:

(i) (ii) (iii) (iv)

(b) (d) (a) (c)

C.

Codes:

(i) (ii) (iii) (iv)

(d) (b) (c) (a)

D.

Codes:

(i) (ii) (iii) (iv)

(a) (b) (c) (d)

 
 

Option: C

Explanation :

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2:  

Which type of retail stores generally has the highest operating costs?

A.

Department store

B.

Supermarket

C.

Chain store

D.

Co-operative Store

 
 

Option: A

Explanation :

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3:  

Where does recognition of an Employee fall in Maslow's hierarchy of needs theory?

A.

Self-actualisation

B.

Security needs

C.

Social needs

D.

Esteem needs

 
 

Option: D

Explanation :

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4:  

Which of the following are true in tax planning?

(i) It is futuristic in its approach.

(ii) It has limited scope compared to tax management.

(iii) The benefits arising from it are limited particularly in the short run.

(iv) Its main objective is to reduce the tax liability.

A.

(i), (ii) and (iii)

B.

(i) and (ii)

C.

(i) and (iv)

D.

(ii), (iii) and (iv)

 
 

Option: C

Explanation :

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5:  

What is the underlying concept that support the immediate recognition of an estimated loss?

A.

Substance over form

B.

Consistency

C.

Matching

D.

Prudence

 
 

Option: D

Explanation :

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