Taxation 5

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Select The Blank
Question 1 Mr X a salaried employee has received total educational allowance of Rs 8,000
for his four children, the maximum allowance exempt is ________ u/s 10(14) of
the IT Act.
Correct Answer Rs 2,400
Your Answer Rs 2,400
Multiple Choice Multiple Answer
Question2 What is the tax treatment of the Lump sum received from unrecognized
provident fund on the retirement or resignation or death of the employee?
Correct Answer Employee's contribution to PF is exempt from tax , Interest on employee's
contribution is taxable as "Income from Other Sources" , Employer's
Contribution to PF and interest thereon is taxable as "Income from salaries"
Your Answer Interest on employee's contribution is taxable as "Income from Other Sources" ,
Employer's Contribution to PF and interest thereon is taxable as "Income from
salaries" , Employee's contribution to PF is exempt from tax
True/False
Question 3 Software technology park means set up according to Software Technology Park
Scheme framed by Ministry of Commerce & Industries.
Correct Answer True
Your Answer True
Select The Blank
Question 4 It is mandatory for ________ to file a return even if there is loss or the income is
nil.
Correct Answer A company
Your Answer Persons under "One by Six" scheme
Multiple Choice Multiple Answer
Question 5 Following professional institutions have their incomes exempt from tax :-
Correct Answer Town planning , Company secretary , Accounting
Your Answer Town planning , Company secretary , Accounting
Multiple Choice Multiple Answer
Question 6 Which of the following amounts credited to P & L Account but not taxable from
Income tax Purposes as Profits from Business and Profession?
Correct Answer Refund of Income tax , Capital Gains , Dividend Income
Your Answer Refund of Income tax , Capital Gains , Dividend Income
Select The Blank

Question 7 ________ is the tax payable on the manufacturing of goods.
Correct Answer Excise duty
Your Answer Excise duty
Select The Blank
Question 8 The amount paid by the employer to the employee to meet the expenditure for
residential accommodation occupied by the employee is called ________.
Correct Answer House rent allowance
Your Answer House rent allowance
Multiple Choice Multiple Answer
Question 9 Any amount deposited by an Individual or a HUF in 10 year or 15 year account
under the Post Office Saving Bank (CTD) Rules, 1959. The account can be in
the name of :-
Correct Answer The individual himself , A minor of whom he is the guardian.
Your Answer The individual himself , A minor of whom he is the guardian.
Select The Blank
Question 10 Section 80U allows the deduction in respect of the ________ .
Correct Answer Permanent physical disability
Your Answer Permanent physical disability
Multiple Choice Single Answer
Question 11 Income of notified news agencies is exempt provided :-
Correct Answer They apply their income for collection & distribution of news
Your Answer They apply their income for collection & distribution of news
Multiple Choice Single Answer
Question 12 The total amount of rebates under Section 88, Section 88B, Section 88C and
Section 88D of the Act. shall :-
Correct Answer Not exceed the amount of tax calculated on the total income.
Your Answer Not exceed the amount of tax calculated on the total income.
Multiple Choice Single Answer
Question 13 What is the treatment of Uncommuted Pension?
Correct Answer It is taxable as Income from Salaries.
Your Answer It is taxable as Income from Salaries.

Multiple Choice Multiple Answer
Question 14 Perquisites which are taxable only in the hands of specified employee include
the following categories of perquisites :-
Correct Answer Motor Car , Services of sweeper, gardener, watchman or personal attendant ,
Gas, electricity and water provided for personal consumption
Your Answer Motor Car , Services of sweeper, gardener, watchman or personal attendant ,
Gas, electricity and water provided for personal consumption
Multiple Choice Single Answer
Question 15 The Central Government has introduced a new pension scheme for the
employees employed on or after 15th January, 2004. These employees are
required to contribute 10% of their salaries to this pension scheme. How much
will the Central Government contribute to the Fund?
Correct Answer Equal amount
Your Answer Equal amount
True/False
Question 16 In case of deductions for medical treatment under Section 80DDB the amount of
deduction will be reduced by the amount received under an insurance policy or
the amount reimbursed by the employer.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question 17 If any person fails to get the accounts audited by a Chartered Accountant and
fails to submit the copy of such report under section 44AB, he will be liable to
pay the penalty equal to :-
Correct Answer 0.5% of sales turnover/gross receipts or Rs.1lakh whichever is less
Your Answer 0.5% of sales turnover/gross receipts or Rs.1lakh whichever is less
Select The Blank
Question 18 Section 35E of the Act applies to all the ________ engaged in the business of
prospecting for or extraction or production of certain specified minerals.
Correct Answer Resident assessees
Your Answer Non-ordinary resident assessees
Multiple Choice Multiple Answer
Question 19 Profits earned by an Industrial Undertaking engaged in other than infrastructure
development is available under Section 80IB for :-
Correct Answer Operation of Ship , Hotels situated in hilly area, rural area or place of pilgrimage
, Company engaged in scientific and industrial research
Your Answer Operation of Ship , Hotels situated in hilly area, rural area or place of pilgrimage
, Company engaged in scientific and industrial research
True/False
Question 20 Jewellery held by the assessee is not a Capital Asset.


Correct Answer False
Your Answer False
Select The Blank
Question 21 House rent allowance is exempt from the heading ________.
Correct Answer Income from salaries
Your Answer Income from salaries
Multiple Choice Multiple Answer
Question 22 The various payments which are referred as deductions under section 43B,
Clause No-21 are :-
Correct Answer Any employees contribution payable by the assessee towards any Provident
Fund or Superannuation Fund or Gratuity Fund for the welfare of the employees
, Any sum payable by the assessee by way of tax duty, cess or fee , Any sum
payable by the assessee as interest on any loan or borrowing made by him from
any public financial institution or state financial corporation as per the terms of
the agreement
Your Answer Any employees contribution payable by the assessee towards any Provident
Fund or Superannuation Fund or Gratuity Fund for the welfare of the employees
, Any sum payable by the assessee by way of tax duty, cess or fee , Any sum
payable by the assessee as interest on any loan or borrowing made by him from
any public financial institution or state financial corporation as per the terms of
the agreement
Select The Blank
Question 23 The rebate u/s ________ is available to a woman assessee below the age of 65
years at any time during the previous years.
Correct Answer 88C
Your Answer 88B
True/False
Question 24 An deduction is allowed to an assesse as an employer in respect of contribution
made to any non-statutory fund under the section 40A(9).
Correct Answer False
Your Answer True
True/False
Question 25 Dividend received by the shareholder is treated as income chargeable to tax u/s
10(34) of the IT Act.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question 26 The assessee is required to quote PAN in :-


Correct Answer All returns to or correspondence with the Income Tax Authorities , All the
challans for the payment of any amount under the Act , All the documents
pertaining to purchase, sale and bank transactions
Your Answer All returns to or correspondence with the Income Tax Authorities , All the
challans for the payment of any amount under the Act , All the documents
pertaining to purchase, sale and bank transactions
Multiple Choice Single Answer
Question 27 Any person carrying on business or profession has to submit the Audit Report in
prescribed form, signed by Chartered Accountant before 31st October of the
assessment year, whether the return of income is filed or not. This is in
compliance with :-
Correct Answer Section 44AB of the Act
Your Answer Section 44AB of the Act
Multiple Choice Single Answer
Question 28 In case of the individual or HUF whose Gross Total Income, before deductions
under Chapter VI-A, is more than Rs. 5,00,000, then :-
Correct Answer No rebate will be available u/s 88.
Your Answer Rebate will be available u/s 88
Multiple Choice Single Answer
Question 29 If firm fails to submit copy of deed along with return of income :-
Correct Answer It will not constitute a separate taxable entity
Your Answer It will not constitute a separate taxable entity
Multiple Choice Single Answer
Question 30 In order to avoid the cases of tax evasion on the part of the assessees, the Act
has provided for :-
Correct Answer Tax deduction at source
Your Answer Tax deduction at source
Multiple Choice Multiple Answer
Question 31 Which of the following expenditures are expressly disallowed to be deducted
while computing the profits from business and profession
Correct Answer Income Tax , Wealth Tax
Your Answer Income Tax , Wealth Tax
True/False
Question 32 Section 80QQB is applicable to the individual resident who is an author of text
books.
Correct Answer False
Your Answer False

Select The Blank
Question 33 Section 35AC of the Act applies to any sum paid by the assessee to a public
sector company or a local authority or an association approved by the national
committee for ________ for carrying out any project in upliftment of public.
Correct Answer Promotion of social and economic welfare
Your Answer Promotion of social and economic welfare
Multiple Choice Single Answer
Question 34 Income from sub-letting of a house property is income from :-
Correct Answer Other sources
Your Answer Subletting
Multiple Choice Multiple Answer
Question 35 Income of a professional association is exempt if its objectives are :-
Correct Answer Supervision , Control , Encouragement
Your Answer Supervision , Control , Encouragement
Multiple Choice Multiple Answer
Question 36 Choose capital expenditure from the following list :-
Correct Answer Purchase of Building , Purchase of machinery
Your Answer Purchase of Building , Construction of temporary structures , Purchase of
machinery
True/False
Question 37 Loss under the head Profits from Business or Profession can be adjusted
against the Income from Salaries.
Correct Answer False
Your Answer False
Select The Blank
Question 38 Deduction u/s 10A is ________ of export proportion of profits.
Correct Answer 0.9
Your Answer 0.9
True/False
Question 39 Rebates as per the provisions of Section 88C of the Act are not available from
the tax on long-term capital gains.
Correct Answer False

Your Answer False
True/False
Question 40 Dividend received from domestic company to its shareholders is taxable in the
hands of the shareholder.
Correct Answer False
Your Answer True
Match The Following
Question 41 Correct Answer Your Answer
Super Annuation Fund This is an employee welfare
scheme which is usually
applicable in case of very
senior employees
This is an employee welfare
scheme which is usually
applicable in case of very senior
employees
Statutory Provident Fund This is set up as per the
provisions of Provident Fund
Act, 1925. This is maintained
by Government organizations,
local authorities, universities
and educational institutions.
This is set up as per the
provisions of Provident Fund
Act, 1925. This is maintained by
Government organizations, local
authorities, universities and
educational institutions.
Recognised Provident Fund This is the provident fund to
which the provisions of
Employees Provident Fund and
Miscellaneous Provisions Act,
1952 apply.
This is the provident fund to
which the provisions of
Employees Provident Fund and
Miscellaneous Provisions Act,
1952 apply.
Unrecognised Provident Fund The provident fund which is not
recognized by the income tax
authorities is called as
unrecognized provident fund.
The provident fund which is not
recognized by the income tax
authorities is called as
unrecognized provident fund.
Multiple Choice Single Answer
Question 42 Tax liability of a person is based on :-
Correct Answer Residential status
Your Answer Residential status
Select The Blank
Question 43 The amount of compensation received or receivable by the employee from the
employer at the time of termination of his employment or at the time of
modification of terms and conditions in connection with the employment is called
as ________.
Correct Answer Terminal compensation.
Your Answer Terminal compensation.
Match The Following

Question 44 Correct Answer Your Answer
Intangible Capital Asset Tenancy Rights Tenancy Rights
Excluded from ambit of term
Capital Asset
Stock in Trade Land held for a period of 36
months or more
Short Term Capital Asset Equity Shares held for a period
of Less than 36 months
Stock in Trade
Long Term Capital Asset Land held for a period of 36
months or more
Building
Multiple Choice Multiple Answer
Question 45 The entertainment allowance received by the Government employees is
included in their salaries and the deduction is allowed to the extent of least of
the following amounts :-
Correct Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment Allowance
received.
Your Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment Allowance
received.
True/False
Question 46 Annual premium paid by the employer for the accident insurance policy taken by
the employer in the name of the employee is chargeable to tax.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question 47 Following condition needs to be satisfied for claiming the exemption under
Section 54F :-
Correct Answer The assessee is an individual or a HUF
Your Answer The assesse is Firm

Taxation 3

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Multiple Answer
Question The entertainment allowance received by the
Government employees is included in their salaries
and the deduction is allowed to the extent of least of
the following amounts :-
Correct Answer Actual amount of Entertainment Allowance received. ,
Rs. 5,000 , 1/5th of Salary
Your Answer Actual amount of Entertainment Allowance received. ,
Rs. 5,000 , 1/5th of Salary
True/False
Question Income Tax Act, 1961 recognizes Written Down Value
(WDV) method as well as straight line method for the
computation of depreciation u/s 32 this act.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Profits earned by an Industrial Undertaking engaged
in other than infrastructure development is available
under Section 80IB for :-
Correct Answer Operation of Ship , Hotels situated in hilly area, rural
area or place of pilgrimage , Company engaged in
scientific and industrial research
Your Answer Operation of Ship , Hotels situated in hilly area, rural
area or place of pilgrimage
Multiple Choice Single Answer
Question Which of the following expenditure is in the nature of
revenue expenditure?
Correct Answer Expenditure incurred as discount on issue of
debentures
Your Answer Expenditure incurred as discount on issue of
debentures
Select The Blank
Question If sum received is net of TDS then it is ________ to
include in income from other sources.
Correct Answer Grossed up
Your Answer Grossed up
True/False
Question Interest paid on the loan for acquiring a capital asset
will be considered to be a part of cost of acquisition.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Mr. A whose Gross Total Income, before allowing
deductions under Chapter VI-A is Rs. 1,45,000, wants
to make the investments in the following alternative
forms Rs. 80,000 in PPF and Rs. 20,000 in
Infrastructure Bonds. The amount of rebate available
to him u/s 88 is :-
Correct Answer Rs. 18,000
Your Answer Rs. 18,000
Multiple Choice Single Answer
Question Interest on specified securities or premium on
redemption is exempt for :-
Correct Answer Non resident Indian
Your Answer Non resident Indian
True/False
Question As per section 2(11) of the Income Tax Act, Block of
Assets includes both tangible as well as intangible
assets.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Deductions in respect of Certain Incomes received
under Section 80L is available in respect of
Correct Answer Interest on Central or State Government Securities ,
Interest on National Saving Certificates (NSCs)
Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest
Your Answer Interest on Central or State Government Securities ,
Interest on National Saving Certificates (NSCs)
Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest
Multiple Choice Single Answer
Question Tax liability of a person is based on :-
Correct Answer Residential status
Your Answer Residential status
Multiple Choice Multiple Answer
Question For the purpose of income tax, the perquisites can be
classified into :-
Correct Answer Perquisites which are taxable in case of all types of
employees , Perquisites which are taxable only in the
hands of specified employee
Your Answer Perquisites which are taxable in case of all types of
employees , Perquisites which are taxable only in the
hands of specified employee
Select The Blank
Question For an individual as a citizen of India who leaves India
in the relevant previous year for the purpose of
employment has to be in India for ________ days or
more during previous year.
Correct Answer 182
Your Answer 182
Multiple Choice Single Answer
Question Income earned in previous year is subjected to tax in
:-
Correct Answer Assessment year
Your Answer Assessment year
Multiple Choice Multiple Answer
Question Following professional institutions have their incomes
exempt from tax :-
Correct Answer Town planning , Company secretary , Accounting
Your Answer Town planning , Company secretary , Accounting
Select The Blank
Question ________ of the Tax Audit Report refers to the details
of various payments which are allowed as deduction
only if they are actually paid for.
Correct Answer Section 43B Clause No-21
Your Answer Section 43B Clause No-21
Multiple Choice Multiple Answer
Question Short Term Capital Loss can be adjusted against :-
Correct Answer Short Term Capital Gains. , Long term Capital Gains
Your Answer Short Term Capital Gains. , Long term Capital Gains
Select The Blank
Question To claim sec 10A deduction unit must be established
in ________.
Correct Answer Free Trade Zone
Your Answer Free Trade Zone
Multiple Choice Single Answer
Question Assessment year is the period of 12 months starting
from :-
Correct Answer 1st April to 31st March
Your Answer 1st April to 31st March
Multiple Choice Single Answer
Question Combined total of five heads of income equals :-
Correct Answer Gross total income
Your Answer Gross total income
Multiple Choice Single Answer
Question If an employee does not avail of this leave travel
concession or assistance during a block of four
calendar years :-
Correct Answer Only one journey can be carried forward to the next
block.
Your Answer Only one journey can be carried forward to the next
block.
Select The Blank
Question To acquire PAN, a person shall apply in ________ to
the assessing officer.
Correct Answer Form No. 49A
Your Answer Form No. 49A
Multiple Choice Single Answer
Question Deduction from Capital Gains under Section 54F is for
Capital Gains arising from transfer of :-
Correct Answer Any Long Term Capital Asset
Your Answer House Property
Select The Blank
Question Where an assessee files or submits the returns as per
provisions of section 139 or in response to the notice
under section 142, the assessment officer undertakes
________ as per section 143(2) and section 143(3).
Correct Answer Scrutiny Assessment
Your Answer Scrutiny Assessment
Multiple Choice Multiple Answer
Question Income of a professional association is exempt if its
objectives are :-
Correct Answer Supervision , Control , Encouragement
Your Answer Supervision , Control , Encouragement
True/False
Question While computing the profits from Business and
profession, the business or profession must be carried
out during the previous year.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question In respect of leave travel concession If Mr. A has
availed the exemption only once or has not availed
any exemption at all, in the block of four years i.e.
1998-2001 then :-
Correct Answer He can carry over the exemption to the next block of
four years i.e. 2002-2005 provided that he avails the
exemption of LTC in the first calendar year of the next
block i.e. 2002.
Your Answer He can carry over the exemption to the next block of
four years i.e. 2002-2005 provided that he avails the
exemption of LTC in the first calendar year of the next
block i.e. 2002.
Multiple Choice Multiple Answer
Question The amount accumulated to the credit of the
employee's provident fund account is paid at the time
of :-
Correct Answer Retirement , Resignation
Your Answer Retirement , Resignation
Multiple Choice Multiple Answer
Question From annual value, following deductions are allowed :-
Correct Answer Standard deduction , Interest on borrowed capital ,
Municipal taxes
Your Answer Interest on borrowed capital , Municipal taxes
Multiple Choice Single Answer
Question As a general principle, the Basic Salary or Wages,
Dearness Allowance and Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer Fully taxable.
Multiple Choice Multiple Answer
Question From GTI of a company following deductions under
chapter VI A are allowed
Correct Answer 80 G Donations , 80 HHB profits and gains from
projects outside India , 80 IA profits and gains of
infrastructure companies
Your Answer 80 G Donations , 80 IA profits and gains of
infrastructure companies
Multiple Choice Single Answer
Question Annual value of any one palace in possession of a
former ruler is :-
Correct Answer Exempt
Your Answer Taxable
Select The Blank
Question If the Salary is more than Rs. 5,00,000, Standard
Deduction will be Rs.________.
Correct Answer 20000
Your Answer 20000
Multiple Choice Single Answer
Question The amount of accumulated interest on NSCs
purchased in the earlier years is assumed to be
reinvested :-
Correct Answer And qualifies for tax rebate under section 88.
Your Answer And qualifies for tax rebate under section 88.
Select The Blank
Question Deduction u/s ________B is available for 10
consequent assessment years from the year of
commencement of production.
Correct Answer 10
Your Answer 10
True/False
Question Income from subletting is treated as income from
house property.
Correct Answer False
Your Answer False
Select The Blank
Question Section 80U allows the deduction in respect of the
________ .
Correct Answer Permanent physical disability
Your Answer Permanent physical disability
Match The Following
Question Correct Answer Your Answer
Disallowable
Expenditure
Litigation Expenses in
connection with
recovery of a debt
which is not a trading
debt
Litigation Expenses in
connection with
recovery of a debt
which is not a trading
debt
Business Includes trade,
commerce, or
Includes trade,
commerce, or
manufacture or any
adventure or concern
in the nature of trade,
commerce or
manufacture
manufacture or any
adventure or concern in
the nature of trade,
commerce or
manufacture
Profession Includes vocation Includes vocation
Capital Expenditure Expenditure incurred
by a company with the
issue of rights shares
Premium on
redemption of
Debentures
True/False
Question Any recreational facility provided by the employer to a
group of employees (not being restricted to a select
few employees) is not exempt from tax.
Correct Answer False
Your Answer False
True/False
Question In case of deductions for medical treatment under
Section 80DDB the amount of deduction will be
reduced by the amount received under an insurance
policy or the amount reimbursed by the employer.
Correct Answer True
Your Answer True
True/False
Question Any advance tax paid before 31st March is treated as
advance tax paid during the previous year.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Municipal taxes paid is allowed as deduction from :-
Correct Answer Gross annual value
Your Answer Gross annual value
True/False
Question Entertainment Allowance received by the employees
from the private sector is taxable in the hands of the
employee.
Correct Answer True
Your Answer True
Match The Following
Question Correct Answer Your Answer
Any subscription made
to National Saving
Scheme
By an individual or a
HUF is eligible for
rebate u/s 88
By an individual or a
HUF is eligible for
rebate u/s 88
Mr. A, a 70 years old
Senior Citizen, has the
Gross Total Income of
Rs. 2,50,000 during
the Assessment Year
2005-2006. He
invested Rs. 50,000 in
the tax saving bonds of
ICICI on 10th June
2004. His tax liability
for the A Y 2005-2006.
RS.12,500 RS.12,500
During the
Assessment Year
2005-2006, Mrs. A,
age 58 years, has the
Gross Total Income of
Rs. 1,45,000 including
the dividend from
Indian companies
amounting to Rs.
10,000. She invests
Rs. 50,000 in PPF
during the said
Assessment Year. her
tax liabilit is
Rs. 1,000 Rs. 1,000
Any contribution made
to a Public Provident
Fund
Is eligible for rebate
u/s 88
Is eligible for rebate u/s
88
Multiple Choice Multiple Answer
Question Following incomes of local authorities are exempt :-
Correct Answer Capital gains , Other income , House property
Your Answer Capital gains , Other income , House property
Multiple Choice Multiple Answer
Question For Deduction u/s 54EC from Capital Gains the
assessee should invest the whole or part of the capital
gains in the specified assets :-
Correct Answer Within six months from the date of transfer of the longterm
capital asset
Your Answer Within six months from the date of transfer of the longterm
capital asset
True/False
Question Income from partnership firms is exempt from taxation
for the partners
Correct Answer True
Your Answer False

Taxation 4

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Single Answer
Question 48 Deduction in respect of Contribution to certain pension funds is related to :-
Correct Answer Section 80CCC
Your Answer Section 80CCC
True/False
Question 49 The rebate u/s 88B is allowed before the rebate u/s 88 is allowed.
Correct Answer True
TAXATION
9
Your Answer False
Select The Blank
Question 50 Expenditure incurred in connection with the local festivals like Diwali etc. are
________ as business expenditure.
Correct Answer Allowed
Your Answer Allowed
Select The Blank
Question 51 Deduction is available for income from foreign sources under Section 80RR if
such remuneration brought into India in convertible foreign exchange within a
period of________ months from the end of the previous year.
Correct Answer 6
Your Answer 6
Multiple Choice Multiple Answer
Question 52 Short Term Capital Loss can be adjusted against :-
Correct Answer Short Term Capital Gains. , Long term Capital Gains
Your Answer Short Term Capital Gains. , Long term Capital Gains
Multiple Choice Single Answer
Question 53 Income from winning from lotteries / crossword puzzles/ horse races is taxed at
flat rate of :-
Correct Answer 0.3
Your Answer 0.35
Select The Blank
Question 54 Section 35D of the Act provides that the preliminary expenses can be ________
over a period of 5 years commencing from the year of commencement of
business.
Correct Answer Amortized and written off to profit and loss account
Your Answer Amortized and written off to profit and loss account
Select The Blank
Question 55 Section 43B of the IT Act provides that the certain payments are allowed as
deduction only if they are ________.
Correct Answer Actually paid
Your Answer Reasonable
Multiple Choice Multiple Answer
Question 56 The rebate u/s 88 is available to an :-
TAXATION
10
Correct Answer Individual , Hindu Undivided Family.
Your Answer Individual , Hindu Undivided Family.
Multiple Choice Single Answer
Question 57 Income from other sources covers agricultural income from land situated :-
Correct Answer Outside India
Your Answer Outside India
Multiple Choice Multiple Answer
Question 58 A return is considered to be defective returns under section 139(9) unless :-
Correct Answer The computation of income under each head, Gross Total Income are properly
filed in , The return is accompanied by the tax audit report under section 44AB ,
The return is accompanied by copies of required financial statements of the
assessee
Your Answer The computation of income under each head, Gross Total Income are properly
filed in , The return is accompanied by the tax audit report under section 44AB ,
The return is accompanied by copies of required financial statements of the
assessee
Multiple Choice Single Answer
Question 59 If an employee does not avail of this leave travel concession or assistance
during a block of four calendar years :-
Correct Answer Only one journey can be carried forward to the next block.
Your Answer Only one journey can be carried forward to the next block.
Select The Blank
Question 60 The person who does not deduct the tax source as required by the Act or after
deducting fails to pay the tax as required by the Act, shall be liable to pay the
simple interest @________ % per month on the amount of such tax from the
date on which the tax was deductible till the date on which such tax is actually
paid.
Correct Answer 1
Your Answer 1.25
Multiple Choice Multiple Answer
Question 61 The assessing officer may allot the Permanent Account Number(PAN) to :-
Correct Answer Person whose Total Income during previous year exceeds the maximum
amount, chargeable to tax , Person carrying on the business or profession
whose turnover exceeds Rs.5 lakhs in any previous year , Any other person by
whom tax is payable
Your Answer Person carrying on the business or profession whose turnover exceeds Rs.5
lakhs in any previous year , Any other person by whom tax is payable , Any
person not applying for permanent account number but, tax is payable by him
TAXATION
11
Multiple Choice Multiple Answer
Question 62 The provisions for payment of gratuity is not allowed under section 40A(7) but,
under the head, profits from business and profession, the amount of gratuity will
be allowed as deduction only when :-
Correct Answer The amount of gratuity has actually become payable to the employees during
the previous year , The provision has been made for the payment of a sum by
way of contribution to an approval gratuity , The other than the above two
situations, any provision made for the payment of gratuity is not allowed as
deduction
Your Answer The amount of gratuity has actually become payable to the employees during
the previous year , The provision has been made for the payment of a sum by
way of contribution to an approval gratuity , The other than the above two
situations, any provision made for the payment of gratuity is not allowed as
deduction
Multiple Choice Multiple Answer
Question 63 For the purpose of taxability of perquisite a specified employee means :-
Correct Answer The person who is director of a company , The employee who has substantial
interest in the company by having 20% or more of the voting power , The
employee whose income under the head salaries (including all the taxable
monetary payments of salary but excluding the value of any non-monetary
benefits or perquisites), after allowing deductions under Section 16, exceeds
Rs. 50,000
Your Answer The person who is director of a company , The employee who has substantial
interest in the company by having 20% or more of the voting power , The
employee whose income under the head salaries (including all the taxable
monetary payments of salary but excluding the value of any non-monetary
benefits or perquisites), after allowing deductions under Section 16, exceeds
Rs. 50,000
True/False
Question 64 Sum received under a will / inheritance is not exempt.
Correct Answer True
Your Answer False
Select The Blank
Question 65 It should be noted that the tax liability of an individual having the total income of
less than Rs ________ is Nil u/s 88D.
Correct Answer 1,00,000
Your Answer 1,00,000
Match The Following
Question 66 Correct Answer Your Answer
All intangible assets like
Patents, Trademarks, Copy
Rights, Licenses etc.
Rate of depreciation is 25% Rate of depreciation is 25%
Temporary Structures Rate of depreciation is 100% Rate of depreciation is 10%
TAXATION
12
Computers Rate of depreciation is 60% Rate of depreciation is 40%
Containers made of glass or
plastic used as refills
Rate of depreciation is 40% Rate of depreciation is 60%
Select The Blank
Question 67 In case of foreign companies rate of tax is ________.
Correct Answer 0.35
Your Answer 0.35
Multiple Choice Single Answer
Question 68 Which of the following expenditure is in the nature of revenue expenditure?
Correct Answer Expenditure incurred as discount on issue of debentures
Your Answer Expenditure incurred as discount on issue of debentures
Multiple Choice Multiple Answer
Question 69 For the purpose of Section 40 A (2) of the IT Act, if assessee is a firm, the term
"Specified Persons" may include :-
Correct Answer Any partner of the firm or his relative , Any person having the substantial interest
in the business or profession of the firm or any director or partner of such
company or firm or any relative of such person. , Any person who carries on
business or profession and in his business or profession the assessee or any
partner of such firm or relative of such partner has substantial interest.
Your Answer Any partner of the firm or his relative , Any person having the substantial interest
in the business or profession of the firm or any director or partner of such
company or firm or any relative of such person. , Any person who carries on
business or profession and in his business or profession the assessee or any
partner of such firm or relative of such partner has substantial interest.
Multiple Choice Single Answer
Question 70 For charging the income in the form of salaries :-
Correct Answer There needs to be an employer-employee relationship between the payer and
the payee.
Your Answer There needs to be an employer-employee relationship between the payer and
the payee.
True/False
Question 71 For claiming the deduction under section 80IA, the industrial undertaking should
be owned by a company registered in India or a consortium of such companies.
Correct Answer True
Your Answer True
Select The Blank
Question 72 Any expenditure incurred by the assessee for any purpose which is ________
or which is prohibited by law shall not be allowed as business expenditure
TAXATION
13
Correct Answer Offence
Your Answer Offence
Multiple Choice Single Answer
Question 73 As a general principle, the Basic Salary or Wages, Dearness Allowance and
Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer Fully taxable.
True/False
Question 74 Rebates as per the provisions of Section 88 of the Act are not available from the
tax on long-term capital gains.
Correct Answer True
Your Answer True
True/False
Question 75 MAT is applicable if there is a difference of 7.5% between net profit & book
profit.
Correct Answer True
Your Answer False
Multiple Choice Multiple Answer
Question 76 For the purpose of Section 40 A (2) of the IT Act, if assessee is an individual,
the term "Specified Persons" may include :-
Correct Answer Any relative of such individual , Any person (individual, company, firm etc.)
having a substantial interest in the business or profession of the individual or
any director or partner of such company or firm or any relative of such person. ,
Any person who carries on a business or profession and in his business or
profession, the assessee himself or his relative has a substantial interest.
Your Answer Any relative of such individual , Any person (individual, company, firm etc.)
having a substantial interest in the business or profession of the individual or
any director or partner of such company or firm or any relative of such person. ,
Any person who carries on a business or profession and in his business or
profession, the assessee himself or his relative has a substantial interest.
Select The Blank
Question 77 Deduction for remuneration from foreign sources for professors, teachers etc
under Section 80R is limited to ________% of such remuneration brought in
India.
Correct Answer 15
Your Answer 10
True/False
Question 78 Any expenditure incurred for earning the income which is included under the
head income from other sources will be allowed as deduction from such income
TAXATION
14
provided that certain conditions are satisfied
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question 79 Deduction from Capital Gains from the transfer of residential house property
under Section 54 is available to :-
Correct Answer Individual , HUF
Your Answer Individual , HUF , Company
True/False
Question 80 Income earned & received outside India & remitted to India is taxable for
resident & ordinary resident
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question 81 Mr X has received Rs 200000 as income from salary, Rs 50000 income from
house property and he also received Rs 100000 income from specified units of
the mutual fund. What will be his total income
Correct Answer Rs 250000
Your Answer Rs 250000
Multiple Choice Multiple Answer
Question 82 Standard deduction takes care of :-
Correct Answer Repairs & maintenance , Insurance premium , Ground rent
Your Answer Insurance premium
Match The Following
Question 83 Correct Answer Your Answer
Individual partners & firms Are separate taxable entities Losses are shared equally
Partnership firm Companies can be partners Are separate taxable entities
Company partners Can not get salaries Companies can be partners
Individual partners Can be partners in any number
of firms
Can be partners in any number
of firms
Multiple Choice Multiple Answer
TAXATION
15
Question 84 Capital Gains arise on account of excess of transfer consideration over the
following amounts
Correct Answer Cost of acquisition , Cost of improvement , Expenditure incurred wholly and
exclusively in connection with the transfer
Your Answer Cost of acquisition , Cost of improvement , Expenditure incurred wholly and
exclusively in connection with the transfer
True/False
Question 85 Income of a mutual fund is taxable even if it is authorized by RBI.
Correct Answer False
Your Answer False
Select The Blank
Question 86 If sum received is net of TDS then it is ________ to include in income from other
sources.
Correct Answer Grossed up
Your Answer Grossed up
Multiple Choice Multiple Answer
Question 87 What is the tax treatment of Statutory Provident Fund?
Correct Answer Employer's Contribution to PF is not liable for any tax payment , Interest
credited to the employee's account is not liable for any tax payment. , The lump
sum received at the time of retirement or resignation or death is also exempt
under section 10(11) and 10(12).
Your Answer Employer's Contribution to PF is not liable for any tax payment , Interest
credited to the employee's account is not liable for any tax payment. , The lump
sum received at the time of retirement or resignation or death is also exempt
under section 10(11) and 10(12).
True/False
Question 88 Interest paid on the loan for acquiring a capital asset will be considered to be a
part of cost of acquisition.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question 89 What is the manner in which Income from Salaries is taxable?
Correct Answer Due basis or 'receipt' basis whichever is earlier.
Your Answer Due basis or 'receipt' basis whichever is earlier.
Multiple Choice Single Answer
Question 90 Deduction from Capital Gains under Section 54F is for Capital Gains arising
from transfer of :-
Correct Answer Any Long Term Capital Asset
TAXATION
16
Your Answer Any Long Term Capital Asset
Multiple Choice Single Answer
Question 91 In case the assessee is not a company, a person(other than a company) who is
falling under One by Six economic criteria, the last date for filing the return is
prescribed as :-
Correct Answer 31st July of the Assessment year
Your Answer 31st July of the Assessment year
Select The Blank
Question 92 Registration charges in connection with the increasing of ________ share
capital of the company is not allowed as revenue expenditure.
Correct Answer Authorized
Your Answer Authorized
True/False
Question 93 The amount of telephone bills (including the mobile phone bills) of the employee
reimbursed by the employer is taxable in the hands of the employee.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question 94 As per which provision and section, every person, company or any other person
shall furnish his returns of income in the prescribed form on or before the
specified due date?
Correct Answer Section 139(1)
Your Answer Section 139(2)

Taxation 2

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Select The Blank
Question The basic advantage of having an agent in the export market is ________.
Correct Answer He is knowledgeable of the marketing condition
Your Answer He is knowledgeable of the marketing condition
Multiple Choice Multiple Answer
Question How does the customer know about the product & is influenced to buy it?
Correct Answer Publicity , Advertising , Sales promotion
Your Answer Publicity , Advertising , Sales promotion
Multiple Choice Single Answer
Question Which of the following is not included in foreign environment?
Correct Answer Local dimension
Your Answer Local dimension
Multiple Choice Single Answer
Question Why should a market researcher check a country's import tariffs when he is
investigating it as an export market?
Correct Answer It can affect the competitiveness of product against products made within the
market
Your Answer It can affect the competitiveness of product against products made within the
market
Multiple Choice Multiple Answer
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". What are the
distribution channels used for imports of silk products into USA market?
Correct Answer Merchant intermediaries , Departmental stores
Your Answer Merchant intermediaries , Departmental stores
True/False
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Oriental entered the
US market in 1970 with a moderate export of Rs.20 million.
Correct Answer False
Your Answer False
Match The Following
Question Correct Answer Your Answer
Indirect exporting Home-based merchant Copyright
Business dimensions Channel network Channel network
Legal dimensions Copyright Use of patent
Licensing arrangement Use of patent Home-based merchant
Multiple Choice Single Answer
Question What is important to take pricing decision?
Correct Answer Competition
Your Answer Competition
Select The Blank
Question In ________, the firm faces only one set of customers.
Correct Answer Domestic marketing
Your Answer Domestic marketing
Multiple Choice Multiple Answer
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Oriental was an active
member of some councils, which are those?
Correct Answer Apparel Export Promotion Council , Woolen Export Promotion Council
Your Answer Apparel Export Promotion Council , Woolen Export Promotion Council
Multiple Choice Single Answer
Question This question is based on the case study 'AB Enterprises'. What is the problem in
adapting AB Enterprises product in the market?
Correct Answer Novelty is lost due to ethnic character in AB Enterprises
Your Answer Novelty is lost due to ethnic character in AB Enterprises
Multiple Choice Multiple Answer
Question What are the important infrastructure factors in evaluating production site?
Correct Answer Industrial site , Transportation & communication
Your Answer Industrial site , Transportation & communication
Multiple Choice Multiple Answer
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Which are the two
years the imports of silk fabrics from Japan by USA was almost same?
Correct Answer 1982 , 1983
Your Answer 1982 , 1983
Select The Blank
Question ________dimensions include customs and practices
Correct Answer Business
Your Answer Business
Multiple Choice Multiple Answer
Question What is the nature of direct export market?
Correct Answer Concentrated , Large potential sale
Your Answer Concentrated , Large potential sale
Multiple Choice Single Answer
Question What does product-mix decision include?
Correct Answer Packaging
Your Answer Packaging
Multiple Choice Multiple Answer
Question What are the internal sources of information?
Correct Answer Sales record , Correspondence from salesmen
Your Answer Sales record , Correspondence from salesmen
True/False
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Mr.Patnaik felt that it
was high time that he appraises his agents' performance relating to the vast & expanding US
market.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". What were the options
Mr.Patnaik had to operate in the US market?
Correct Answer Opening a branch office , A subsidiary company
Your Answer Opening a branch office , A subsidiary company
Select The Blank
Question In indirect export channel, the market is ________.
Correct Answer Dispersed
Your Answer Dispersed
True/False
Question Strategies suggested in the Medium Term Export Plan include product-market
penetration strategy for existing products, product-market, diversification for new products & new
markets.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Why is packaging so important for product planning?
Correct Answer As it enhances protection , As it gives shelf life for a product
Your Answer As it enhances protection , As it gives shelf life for a product
True/False
Question If foreign retailers are used, the products in question are industrial products rather than
consumer products.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question How is the nature of international strategy?
Correct Answer Depends on company's objectives , Varies from country to country
Your Answer Depends on company's objectives , Varies from country to country
Select The Blank
Question "make site booking" is a point of checklist of ________
Correct Answer Before the fair
Your Answer Before the fair
Multiple Choice Single Answer
Question What marketing technique is used to know international marketing need?
Correct Answer Marketing information & research
Your Answer Marketing information & research
Multiple Choice Multiple Answer
Question What are the benefits of participation in trade fair?
Correct Answer To get to know about competition , To know about the extent of product adaption
Your Answer To get to know about competition , To know about the extent of product adaption
Select The Blank
Question Experience survey, which is also called as ________.
Correct Answer Key informant survey
Your Answer Key informant survey
Multiple Choice Single Answer
Question What is a foreign agent?
Correct Answer Independent middleman
Your Answer Independent middleman
Multiple Choice Single Answer
Question What does political environment include?
Correct Answer Legal dimension
Your Answer Legal dimension
Match The Following
Question Correct Answer Your Answer
External factor Competitive profile Competitive profile
Ethnocentric orientation Overseas operation conducted from home country Overseas operation
conducted from home country
Polycentric orientation Each market is unique Each market is unique
Target market Marketing strategy Marketing strategy
True/False
Question In marginal cost pricing for export, competition in foreign markets requires quotation of a
lower price
Correct Answer True
Your Answer True
True/False
Question Policies or regulations regarding quality control & inspection vary considerably between
nations.
Correct Answer True
Your Answer True
Select The Blank
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Oriental Silk Private
Limited, is a ________ unit, was one of the leading Indian manufacturers & exporters of silk
fabrics & made-ups
Correct Answer 100% export oriented
Your Answer 100% export oriented
Select The Blank
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". The bulk of the trade
was handled by ________
Correct Answer Central buying organizations
Your Answer Foreign agents
True/False
Question If business is variable, the company will choose the purchasing or subcontracting
alternatives.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question What is the meaning of offshore purchasing?
Correct Answer Relationship between independent buyer & seller for exchange of good for
money
Your Answer Relationship between independent buyer & seller for exchange of good for money
Select The Blank
Question Many companies modify their products/promotion strategies to suit ________ of the
population of the different countries.
Correct Answer Tastes & preferences
Your Answer Tastes & preferences
True/False
Question Companies with smaller needs, an independent supplier will be less active.
Correct Answer False
Your Answer False
True/False
Question Catalogues contain a list of all competitors with product details.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question What is correct according to geocentric orientation?
Correct Answer Companies view the entire world as a single market , Uniform inventory
management & training
Your Answer Companies view the entire world as a single market , Uniform inventory
management & training
True/False
Question The area of change relates to product adaption requires upgradation of technology and
huge investment in brands.
Correct Answer True
Your Answer True
Select The Blank
Question This question is based on the case study "Chow Flowers Co. Ltd.". ________ was
Thailand's second largest export market for artificial flowers, mostly polyester or hand-wrapped.
Correct Answer Canada
Your Answer Canada
Multiple Choice Single Answer
Question What are the similarities between domestic & international marketing?
Correct Answer Satisfying consumers need
Your Answer Satisfying consumers need
Multiple Choice Single Answer
Question What is the need of marketing research for export-import trade?
Correct Answer To reduce the distance between an exporter & his customers in terms of
marketing
Your Answer To reduce the distance between an exporter & his customers in terms of marketing
Multiple Choice Single Answer
Question What is the avenue of entry into foreign markets?
Correct Answer Contract manufacturing
Your Answer Contract manufacturing
Multiple Choice Single Answer
Question What is the principal functional division of ministry of commerce & industry?
Correct Answer Export Industries Division
Your Answer Export Industries Division

Taxation

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Multiple Answer
Question What are the factors to be considered in cluster analysis?
Correct Answer Limited number of clusters due to limitation of market potential , Clusters are not
water tight compartment , Evaluating the quality of cluster is difficult
Your Answer Limited number of clusters due to limitation of market potential , Clusters are not
water tight compartment , Evaluating the quality of cluster is difficult
Multiple Choice Single Answer
Question Clarity of questions and instructions for filling the form is essential in :-
Correct Answer Mail survey
Your Answer Data analysis
Multiple Choice Single Answer
Question The technique through which objects/ cases are classified into relative homogeneous
groups or clusters is known as :-
Correct Answer Cluster analysis
Your Answer Cluster analysis
Multiple Choice Single Answer
Question Mean or average value is used to estimate when data have been collected using :-
Correct Answer Interval or ratio scale
Your Answer Interval or ratio scale
Select The Blank
Question In ________ method the research analyst is not concerned with cause and research
relationship.
Correct Answer Diagnostic
Your Answer Diagnostic
Multiple Choice Multiple Answer
Question Which are the New Delhi based Research Institutions?
Correct Answer NRDC , CSIR , Cement Research Institute of India
Your Answer NRDC , CSIR , Cement Research Institute of India
Multiple Choice Single Answer
Question Market Research is done to
Correct Answer Explore the Opportunities
Your Answer Explore the Opportunities
True/False
Question "Consumer Panel" is a specialized market research technique.
Correct Answer False
Your Answer False
Match The Following
Question Correct Answer Your Answer
"What might this be ?" Inkblot test Inkblot test
Aided Recall Depth Research Depth Research
Doesn’t intend to tell Projective techniques Projective techniques
Ease of construction Likert scale Likert scale
True/False
Question In regression analysis, dependent variables can be expressed as a linear function of
impendent variables.
Correct Answer True
Your Answer True
True/False
Question When company prepares a long range plan it is unpublished internal source of
information.
Correct Answer True
Your Answer True
Select The Blank
Question Association technique is a type of ________.
Correct Answer Projective technique
Your Answer Projective technique
Multiple Choice Single Answer
Question The impact of promotional slogans on the consumers can be studied with
Correct Answer Association technique
Your Answer Association technique
True/False
Question Brand image building is not important in case of industrial product for quality.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Which publications are used for research on Chemical Industry?
Correct Answer Indian Chemical Directory , Chemical Industry News , Chemical & Petro
Chemicals Journal
Your Answer Indian Chemical Directory , Chemical Industry News , Chemical & Petro Chemicals
Journal
Multiple Choice Single Answer
Question Spreading the sample through the entire population following a regular pattern is known
as :-
Correct Answer Systematic sampling
Your Answer Systematic sampling
Select The Blank
Question In absence of proper________ the market research becomes a data collection exercise.
Correct Answer Problem Definition
Your Answer Analysis
Multiple Choice Multiple Answer
Question Which institutions should be contacted for research on Paint Chemicals?
Correct Answer National Chemical Laboratory, Pune , Industrial Research & Development Center
, Building Research Institute
Your Answer National Chemical Laboratory, Pune , Industrial Research & Development Center ,
Building Research Institute
Multiple Choice Multiple Answer
Question The objectives of marketing research are
Correct Answer To understand the consumer needs and wants , To explore the new markets , To
analyze the competitors
Your Answer To understand the consumer needs and wants , To explore the new markets , To
analyze the competitors
Multiple Choice Single Answer
Question Ultra violet ink is used to disguise customer coding. This activity is :-
Correct Answer A disapproved method
Your Answer A disapproved method
Select The Blank
Question Through cluster analysis objects/cases are classified into relatively________ group
called cluster.
Correct Answer Homogeneous
Your Answer Homogeneous
Match The Following
Question Correct Answer Your Answer
Dangler POP POP
POP Communication medium Communication medium
Opinion Polls Daily basis Daily basis
Corporate Image Study Advertising research Advertising research
Multiple Choice Multiple Answer
Question Ethical issues to be observed while writing a report are :-
Correct Answer No deliberate misinterpretations , Marketing problems should be designed to suit
hidden agenda , Complete confidentiality and secrecy of data
Your Answer No deliberate misinterpretations , Marketing problems should be designed to suit
hidden agenda , Complete confidentiality and secrecy of data
Select The Blank
Question Multiple Choice is a ________type of question.
Correct Answer Close ended
Your Answer Close ended
Multiple Choice Single Answer
Question The conjoint analysis helps to enable company's to :-
Correct Answer Conduct brand swot analysis
Your Answer Conduct brand swot analysis
Multiple Choice Single Answer
Question In the Internet era, qualitative research is possible through :-
Correct Answer Chat sessions
Your Answer Chat sessions
Select The Blank
Question ________is an important communication medium that helps recall advertising.
Correct Answer Point of Purchase(POP)items
Your Answer Point of Purchase(POP)items
True/False
Question In the Funnel approach, specific questions come first and general questions later.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question In resources for marketing research skilled staff plays an important role in :-
Correct Answer Maintaining data , Dealing with different situation and problems , Timely
completion of research
Your Answer Maintaining data , Dealing with different situation and problems , Timely completion
of research
Select The Blank
Question Convenience Sampling is used for ________.
Correct Answer Exploratory research
Your Answer Exploratory research
True/False
Question The person conducting pharma research should be well qualified so that not to waste
Doctors time.
Correct Answer True
Your Answer True
True/False
Question The limitations with regression forecasting is that independent variables must be
forecasted before forecasting the dependent variables.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Main features of Technical Report are :-
Correct Answer Minute details of planning data collection , Analysis , Interpretation
Your Answer Minute details of planning data collection , Analysis , Interpretation
Multiple Choice Single Answer
Question How people allocate their time and money to certain products and factors is depicted by
Correct Answer Psychographic Variable
Your Answer Psychographic Variable
True/False
Question Question phrasing and structure are eliminated in Semantic differential scale.
Correct Answer True
Your Answer True
True/False
Question The popularity of Likert scale is due to its ease of construction and administration.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Which are the Export Promotion Councils?
Correct Answer Cashew Export Promotion Council , Handloom Export Promotion Council , Gem
& Jewellery Export Promotion Council
Your Answer Cashew Export Promotion Council , Handloom Export Promotion Council , Gem &
Jewellery Export Promotion Council
True/False
Question The written contract of a research should cover the penalty clause covering deficits
such as delays, inadequate data.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question The producers in the sellers' market are also forced to take decisions based on the
market information because
Correct Answer The resources are scarce
Your Answer The resources are scarce
Multiple Choice Single Answer
Question Scale Intervals can be used for
Correct Answer Age
Your Answer Age
Select The Blank
Question Bibliography contains ________.
Correct Answer Information of references and secondary data
Your Answer Information of references and secondary data
Multiple Choice Multiple Answer
Question Online survey methods include :-
Correct Answer Email survey , HTML survey , Downloadable interactive surveys
Your Answer Email survey , HTML survey , Downloadable interactive surveys
Multiple Choice Single Answer
Question Data of market research cannot be maintained :-
Correct Answer Without experienced and educated research staff
Your Answer Without experienced and educated research staff
Multiple Choice Multiple Answer
Question Pretesting of Questionnaire includes testing of :-
Correct Answer Question content , Time taken to answer questions , Categorisation
Your Answer Question content , Time taken to answer questions , Categorisation
Multiple Choice Multiple Answer
Question Identification of Target Population is facilitated by :-
Correct Answer Well defined research objectives , Alternative, reasonable/target population
definitions , Specifications for exclusion in target population
Your Answer Well defined research objectives , Alternative, reasonable/target population
definitions , Specifications for exclusion in target population
Select The Blank
Question ________are used for National Panel Studies.
Correct Answer Quota controls
Your Answer Quota controls
Select The Blank
Question Finding out the number of vehicles at a given junction is a ________ method.
Correct Answer Direct Observation
Your Answer Direct Observation

TWM - 2

Select The Blank
Question When a company can tolerate a somewhat looser relationship with its sources
or when requirements are so predictable that control is less important,
________ is often preferable.
Correct Answer Purchasing or subcontracting
Your Answer Purchasing or subcontracting

Select The Blank
Question In direct export channel, the product is ________.
Correct Answer Technical product
Your Answer Technical product

Multiple Choice Single Answer
Question This question is based on the case study "Chow Flowers Co. Ltd.". What was
the main line of activity in Chow Flowers Company Limited?
Correct Answer Artificial flowers manufacturing
Your Answer Artificial flowers manufacturing

Select The Blank
Question Offshore purchasing requires________.
Correct Answer Little experience
Your Answer Little experience

Multiple Choice Multiple Answer
Question What contributed 50% of the total exports of engineering goods?
Correct Answer Machinery & instruments , Metals, primary & semi finished iron, steel
Your Answer Machinery & instruments , Metals, primary & semi finished iron, steel

Select The Blank
Question ________is not an avenue of entry into foreign market
Correct Answer Exim policy
Your Answer Exim policy

Multiple Choice Single Answer
Question Which of the following factors is related to employment levels?
Correct Answer Economic factor
Your Answer Cultural factor

Select The Blank
Question India's share in the total world exports in 1950 was around ________.
Correct Answer 0.02
Your Answer 0.02

Multiple Choice Single Answer
Question What is the meaning of offshore purchasing?
Correct Answer Relationship between independent buyer & seller for exchange of good for
money
Your Answer Relationship between independent buyer & seller for exchange of good for
money

Multiple Choice Multiple Answer
Question What are the elements of research approach?
Correct Answer Data collection method , Sample selection procedure
Your Answer Data collection method , Sample selection procedure

Select The Blank
Question ________ is a kind of non-equity joint venture
Correct Answer Coproduction arrangement
Your Answer Coproduction arrangement

Match The Following
Question Correct Answer Your Answer
Standardization Large scale of production Large scale of production
Branding Value addition to a product Preferences
Packaging Protection & shelf life Protection & shelf life
Support service Warranty Warranty

Multiple Choice Single Answer
Question Which of the following indirect channel has greater freedom & authority?
Correct Answer Export management companies
Your Answer Export management companies

True/False
Question Under an international management contracts, a company undertakes the day
to day management of an independent enterprise in a foreign target country
Correct Answer True
Your Answer False

Select The Blank
Question In________, a change is required to ensure adequate protection from
environment
Correct Answer Packaging
Your Answer Packaging

Multiple Choice Multiple Answer
Question Which of the following are domestic channels?
Correct Answer Export houses , Export merchant
Your Answer Export houses , Export merchant

Select The Blank
Question This question is based on the case study "Chow Flowers Co. Ltd.". The
largest importer was ________.
Correct Answer United States
Your Answer Japan

Multiple Choice Single Answer
Question Why should a market researcher check a country's import tariffs when he is
investigating it as an export market?
Correct Answer It can affect the competitiveness of product against products made within the
market
Your Answer It can affect the competitiveness of product against products made within the
market

Multiple Choice Single Answer
Question What are the similarities between domestic & international marketing?
Correct Answer Satisfying consumers need
Your Answer Satisfying consumers need

Multiple Choice Multiple Answer
Question What are the points to be taken into consideration in export agency
agreement?
Correct Answer Contracted territory , Contracted products
Your Answer Contracted products , Contracted territory

Multiple Choice Multiple Answer
Question Which were the programmes included in reforms?
Correct Answer Foreign collaboration , A programme of micro-economic stabilization ,
Productivity & international competitiveness of Indian economy
Your Answer A programme of micro-economic stabilization , A programme of labour
welfare

Multiple Choice Single Answer
Question This question is based on the case study 'AB Enterprises'. What is the
marketing components the product adaption had?
Correct Answer Reproduction of European antiques
Your Answer Changing the design of packaging materials

Select The Blank
Question ________ send either buying delegations or have their buying offices in the
exporting country.
Correct Answer Large retail stores
Your Answer Government department

Multiple Choice Multiple Answer
Question What are included in sovereign political entities?
Correct Answer Custom duties , Exchange control , Local taxes
Your Answer Custom duties , Exchange control , International taxes

Multiple Choice Multiple Answer
Question What are the advantages of having agents?
Correct Answer Knowledgeable about the market , He can provide after sales service
Your Answer Knowledgeable about the market , He can provide after sales service

Select The Blank
Question In ________ strategy, home base is used for production of products for export
Correct Answer Extension
Your Answer Extension

Multiple Choice Multiple Answer
Question What is the meaning of unit value of the product?
Correct Answer High priced product , High sensitive product
Your Answer Bulk transportation , High sensitive product

Multiple Choice Single Answer
Question When did India emerge as a supplier of manufactured products to Asia &
Africa?
Correct Answer On the eve of first world war
Your Answer On the eve of second world war

True/False
Question The advantage of using an export agent is that the firm does not need to have
an export manager to handle all the documentation and shipping tasks.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question How is the nature of international strategy?
Correct Answer Depends on company's objectives , Varies from country to country
Your Answer Depends on company's objectives , Varies from country to country

True/False
Question In marginal cost pricing, fixed costs are recovered from the international
market
Correct Answer False
Your Answer False

True/False
Question Major benefits of standardization includes less distribution cost of
standardization.
Correct Answer False
Your Answer False

Multiple Choice Single Answer
Question Which of the following represents the foreign buyer?
Correct Answer Purchasing agent
Your Answer Purchasing agent

Multiple Choice Single Answer
Question Which of the following is contractual entry mode?
Correct Answer Franchising
Your Answer Franchising

Multiple Choice Multiple Answer
Question What are the risks involved in international marketing?
Correct Answer Larger volume of transaction , Less knowledge about parties reputation ,
Longer time in transit
Your Answer Larger volume of transaction , Less knowledge about parties reputation ,
Longer time in transit

True/False
Question Bargaining styles differ greatly across nations.
Correct Answer False
Your Answer False

Multiple Choice Single Answer
Question It's worthwhile to pursue a uniform pricing strategy
Correct Answer When competitive position of the firm does not vary from market to market
Your Answer When competitive position of the firm does not vary from market to market

True/False
Question Exporting is the only avenue of entry into foreign market
Correct Answer False
Your Answer False

Select The Blank
Question The markets for the products of developing countries are usually in countries
with________
Correct Answer Low national income
Your Answer Higher imports per annum

True/False
Question Economic dimensions include communication, channel network
Correct Answer False
Your Answer False

True/False
Question In international marketing, cultural dimensions include customs, traditions
Correct Answer True
Your Answer True

True/False
Question 4P's of marketing include product,price,place and people
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question This question is based on the case study "Oriental Silk Pvt. Ltd.". Which are
the two years the imports of silk fabrics from Japan by USA was almost
same?
Correct Answer 1982 , 1983
Your Answer 1982 , 1983

True/False
Question The naïve rule is for managers to use the same entry mode such as
agent/distributor exporting, for all target countries
Correct Answer True
Your Answer False

Multiple Choice Multiple Answer
Question Which of the following are among the top ten suppliers together accounting
for over 60% of total imports?
Correct Answer China , Germany
Your Answer Italy , Germany

Match The Following
Question Correct Answer Your Answer
HONG KONG $ 2.5 billion exports in 1999-
2000
$ 1.95 billion exports in 2002-
03
USA $ 1.95 billion exports in 2002-
03
$ 2.5 billion exports in 2001-02
UAE $ 2.5 billion exports in 2001-02 $ 0.5 billion exports in 1999-
2000
UK $ 2.3 billion exports in 2000-01 $ 2.5 billion exports in 1999-
2000

Multiple Choice Single Answer
Question In product planning for export, length is related to
Correct Answer Number of products
Your Answer Number of products

Java Programming - 2

Java Programming - 2

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Single Answer

Question Java's which system allows a thread to enter a synhcronized

method on an object, and then wait there until some other thread

explicitly notifies it to come out :-

Correct Answer Messaging

Your Answer Run time

Multiple Choice Multiple Answer

Question Packages act as containers for :-

Correct Answer Classes , Subordinate packages

Your Answer Subordinate packages , Classes

True/False

Question Threads priorities are not integers that specify the relative priority

of one thread to another.

Correct Answer False

Your Answer False

Multiple Choice Single Answer

Question When java program starts up, which thread begins running

immediately?

Correct Answer Main thread

Your Answer Main thread

Multiple Choice Single Answer

Question Java provides built-in support for which programming?

Correct Answer Multithreaded

Your Answer Multithreaded

Select The Blank

Question The ________ is similar to break, except that instead of halting

the execution of the loop, it starts the next iteration.

Correct Answer Continue

Your Answer Continue

Multiple Choice Single Answer

Question When can a constructor be called without specifying arguments?

Correct Answer When there are no constructors for the class

Your Answer When the default constructor is not called

Match The Following

Question Correct Answer Your Answer

Memory deallocation Garbage Collection Garbage Collection

This Current Object Current Object

Constructor Initialization object Initialization object

Parameters Method Generalized Method Generalized

Select The Blank

Question The mechanism which binds together the code and data and

keeps both safe is ________.

Correct Answer Encapsulation

Your Answer Encapsulation

Select The Blank

Question ________ is an instance of a class that implements the runnable

interface.

Correct Answer threadOb

Your Answer threadO

Multiple Choice Multiple Answer

Question Expression must be of the data types :-

Correct Answer Byte , Short , Int

Your Answer Byte , Short , Int , Boolean

True/False

Question Java define eight simple types of data byte, short, int, long, char,

float, double, boolean.

Correct Answer True

Your Answer True

Multiple Choice Multiple Answer

Question What modifiers may be used with top-level class?

Correct Answer Public , Abstract , Final

Your Answer Public , Abstract , Final

Multiple Choice Single Answer

Question Syntax to declare a variable in java is :-

Correct Answer type identifier [=value][,identifier[=value]…]

Your Answer type identifier [=value][,identifier[=value]…]

Select The Blank

Question ________ statement in java is conditional branch statement.

Correct Answer If

Your Answer If

Multiple Choice Single Answer

Question Which statement used inside a set of nested loops, will only break

out of the innermost loop?

Correct Answer Break

Your Answer Break

Select The Blank

Question In ________ statement condition is true, then statement 1 is

executed.

Correct Answer If

Your Answer If

Multiple Choice Multiple Answer

Question The source for the frist package defines three classes

Correct Answer Protection , Derived , SamePackage

Your Answer Protection , Derived , SamePackage

True/False

Question Java compiler stores the .class files in the path specified in

CLASSPATH environmental variable.

Correct Answer False

Your Answer True

True/False

Question Interface can be extended.

Correct Answer True

Your Answer True

Select The Blank

Question ________ is the logical construct upon which the entire java

language is built.

Correct Answer Class

Your Answer Class

True/False

Question Is it necessary to implement all the methods of an interface while

implementing the interface

Correct Answer False

Your Answer True

Multiple Choice Multiple Answer

Question Which loops can be nested in java?

Correct Answer While , Do-while , For

Your Answer While , Do-while , For

True/False

Question Float data type is useful when we need fractional values.

Correct Answer True

Your Answer True

Multiple Choice Multiple Answer

Question What all the run( ) method can do?

Correct Answer Can call other method , Declare variable

Your Answer Can call other method , Create object

True/False

Question Variable in an interface are implicitly final and static.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question Which of the following operators are used in conjunction with the

this and super references?

Correct Answer The dot operator

Your Answer The dot operator

Select The Blank

Question The ________ keyword halts the execution of the current loop

and forces control out of the loop.

Correct Answer Break

Your Answer Break

Multiple Choice Single Answer

Question What is a data structure that controls the state of a collection of

threads as a whole?

Correct Answer Thread group

Your Answer Thread group

Multiple Choice Multiple Answer

Question By Providing the interface keyword, Java allows you to fully utilize

the which aspect of polymorphism?

Correct Answer One interface , Multiple methods

Your Answer One interface , Multiple methods , Derived

Select The Blank

Question For externalizable objects the ________ is solely responsible for

the external format of its contents.

Correct Answer Class

Your Answer Objects

Multiple Choice Multiple Answer

Question Which are the java's control statements?

Correct Answer For , If , Switch

Your Answer For , Switch , Continue

Multiple Choice Single Answer

Question What are the kinds of variables in Java?

Correct Answer Instance, local, class variables

Your Answer Instance, local, class variables

Multiple Choice Multiple Answer

Question Java Operators can be divided into these groups :-

Correct Answer Arithmetic , Bitwise , Relational

Your Answer Arithmetic , Bitwise , Relational

Match The Following

Question Correct Answer Your Answer

Interface Abtract method Abtract method

Pacakge declaration Package pkg Package pkg

Java.applet.Applet Class Applet Class Applet

Java.applet Java.applet package Java.applet package

Multiple Choice Single Answer

Question What is an array?

Correct Answer It is value collection of same type of data type

Your Answer It is value collection of same type of data type

Multiple Choice Multiple Answer

Question Modulus operator % can be applied to these data types :-

Correct Answer floating Point , Integer , Character

Your Answer floating Point , Integer

Select The Blank

Question Start( )executes a call to ________.

Correct Answer run( )

Your Answer run( )

Select The Blank

Question ________ is an instance of the class.

Correct Answer Object

Your Answer Object

Select The Blank

Question ________method starts a threrad by calling its run method.

Correct Answer start( )

Your Answer start( )

Multiple Choice Single Answer

Question Which Control Statements allow the program to choose different

paths of execution?

Correct Answer Selection

Your Answer Break

Multiple Choice Single Answer

Question Which Control Statements enable program execution to repeat

one or more statements?

Correct Answer Iteration

Your Answer Iteration

True/False

Question The switch statement does not require a break.

Correct Answer False

Your Answer True

True/False

Question In Interface we need not use the keyword abstract for the

methods.

Correct Answer True

Your Answer True

Multiple Choice Multiple Answer

Question What are the Logical operators?

Correct Answer OR(|) , AND(&) , XOR(^)

Your Answer OR(|) , AND(&) , XOR(^)

True/False

Question Byte can be Cast to Double Value.

Correct Answer True

Your Answer False

Multiple Choice Multiple Answer

Question Which thread is created automatically when the program is

started?

Correct Answer Main thread

Your Answer Main thread , Current thread