Taxation - 3 SCDL Sample Question Paper

Taxation

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.
Select The Blank
*Question -If assessee owns more than one house properties, he can get benefit
of nil annual value for any one house property ________.
Correct Answer -As per his choice
Your Answer As per his choice
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
Multiple Choice Multiple Answer
*Question -What are the types of Provident Fund?
Correct Answer -Statutory Provident Fund , Recognized Provident Fund ,
Unrecognized Provident Fund
Your Answer Statutory Provident Fund , Recognized Provident Fund ,
Unrecognized Provident Fund
Multiple Choice Multiple Answer
*Question -The least of the following is the exemption available to an employee if
he is in receipt of house rent allowance :-
Correct Answer -50% of the Salary where such accommodation is situated in Mumbai,
Kolkata, Chennai and Delhi and 40% of the Salary when the
accommodation is situated at any other place. , Actual amount of
HRA received by the employee. , Excess of rent paid over 10% of the
Salary.
Your Answer 50% of the Salary where such accommodation is situated in Mumbai,
Kolkata, Chennai and Delhi and 40% of the Salary when the
accommodation is situated at any other place. , Actual amount of
HRA received by the employee. , Excess of rent paid over 10%of the
Salary.
Multiple Choice Multiple Answer
*Question -To get deduction of Rs 150000/- as interest on borrowed capital
assessee needs to satisfy conditions i.e. :-
Correct Answer -Borrowal is after 1st April 1999 , Construction is completed in 3 years
Your Answer Borrowal is after 1st April 1999 , Construction is completed in 3 years
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 -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.
Select The Blank
*Question -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 -The provisions under section 44AB of the Act, is applicable to the
person carrying on the profession and whose gross receipts in
profession :-
Correct Answer -Exceeds Rs.10 lakhs in any previous year
Your Answer Exceeds Rs.40 lakhs in any previous year
Multiple Choice Multiple Answer
*Question -As per the provision of section 143(2) and 143(3) scrutiny
assessment made by assessing officer in order to ensure that :-
Correct Answer -Assessee has not understated the income , Assessee has not
overstated the loss , Assessee has under paid the taxes
Your Answer Assessee has not understated the income , Assessee has not
overstated the loss , Assessee has under paid the taxes , Assessee
has not been allotted the PAN
Multiple Choice Single Answer
*Question -Annual value of any one palace in possession of a former ruler is :-
Correct Answer -Exempt
Your Answer Exempt
True/False

*Question -Interest paid on the loan for acquiring a capital asset will not be
considered to be a part of cost of acquisition.
Correct Answer -False
Your Answer True
Multiple Choice Single Answer
*Question -Previous year always ends on :-
Correct Answer -31st March
Your Answer 31st March
Multiple Choice Multiple Answer
*Question -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
Select The Blank
*Question -Short term Capital Gains is taxed at ________.
Correct Answer -Normal Tax rates
Your Answer Normal Tax rates
Multiple Choice Single Answer
*Question -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
True/False
*Question -Clause N0-30 of the Tax Audit requires that, if the cost Audit of the
company carried out, the report of such audit should be enclosed to
the Tax Audit Report.
Correct Answer -True
Your Answer True
True/False
*Question -If an assessee gets the salary from more than one employer during
an Assessment Year, Salary received from all the employers will be
aggregated and then the Standard Deduction will be allowed.
Correct Answer -True
Your Answer True
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 Single Answer
*Question -The amount of advance tax payable by non corporate assessees
before 15th September of Previous year is :-
Correct Answer -30% of advance tax payable
Your Answer 30% of advance tax payable
Multiple Choice Multiple Answer
*Question -Any loans or deposits borrowed or repaid under section 269SS of the
Act provides that the said provisions will not apply to the loans or
deposits accepted by :-
Correct Answer -Government , Government company , Banking company including
cooperative bank and post office savings bank
Your Answer Government , Government company , Banking company including
cooperative bank and post office savings bank
Multiple Choice Single Answer
*Question -The amount of advance tax payable by corporate assessees before
15th March of Previous year is :-
Correct Answer -100% of advance tax payable
Your Answer 100% of advance tax payable
Multiple Choice Single Answer
*Question -The due date prescribed for filing the returns of income in Form No.
2C is
Correct Answer -31st October of the respective Assessment year
Your Answer 31st October of the respective Previous year
True/False
*Question -The amount of expenses including membership fees and annual fees
incurred by the employee on credit card and which are paid by the
employer shall be added as the perquisites unless the said expenses
are incurred wholly and exclusively for official purposes.
Correct Answer -True
Your Answer True
Multiple Choice Multiple Answer
*Question -Which of the following expenses should be debited to P & L Account,
but disallowed for Income tax purpose?
Correct Answer -Wealth Tax , Personal expenditure , Income Tax
Your Answer Wealth Tax , Revenue expenditure , Personal expenditure
Multiple Choice Single Answer
*Question -The provisions regarding set off and carry forward of loses are
contained in :-
Correct Answer -Sections 70 to 80 of the Income Tax Act, 1961.
Your Answer Sections 70 to 80 of the Income Tax Act, 1961.
Multiple Choice Single Answer
*Question -A partnership firm is an agreement between not more than :-
Correct Answer -20 persons
Your Answer 20 persons
Multiple Choice Single Answer
*Question -Deduction from Capital Gains under Section 54B is for Capital Gains
arising from transfer of :-
Correct Answer -Agricultural Land
Your Answer Long Term Capital Asset other than House Property
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 Multiple Answer
*Question -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. , Spouse
of individual
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 Multiple Answer
*Question -Following news agencies are specified by the Central Government as
specified news agencies :-
Correct Answer -UNI , PTI
Your Answer PTI , NDTV
Select The Blank
*Question -Any expenditure incurred by the assessee for any purpose which is
________ or which is prohibited by law shall not be allowed as
business expenditure
Correct Answer -Offence
Your Answer Anti social
True/False
*Question -If assessee owns more than one house properties, annual value of
any one of the house property can be treated as nil, and such option
can be changed year on year basis.
Correct Answer -True
Your Answer True
Match The Following
*Question -
Correct Answer -Your Answer
Superannuation Fund It is an employee welfare
scheme
It is an employee welfare
scheme
Statutory Provident Fund This is set up as per the
provisions of Provident
Fund Act, 1925.
This is set up as per the
provisions of Provident Fund
Act, 1925.
Recognized Provident Fund the provisions of
Employees Provident Fund
and Miscellaneous
Provisions Act, 1952 apply
to this fund.
the provisions of Employees
Provident Fund and
Miscellaneous Provisions
Act, 1952 apply to this fund.
Unrecognized Provident
Fund
The provident fund which is
not recognized by the
income tax authorities .
The provident fund which is
not recognized by the
income tax authorities .
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
Select The Blank
*Question -Mr. Ram is employed by the Central Government as accountant
whose gross salary income is Rs 6,00,000. He can claim standard
deduction of Rs ________ u/s 16(i) of the IT Act.
Correct Answer -Rs 20,000
Your Answer Rs 20,000
Match The Following
*Question -Correct Answer -Your Answer
Deduction in case of
permanent physical
disability
Section 80U Section 80U
Deductions for Donations
Paid
Section 80G Section 80G
Deduction for Rent Paid Section 80GG Section 80GG
Deduction in respect of
Interest on Bank Deposits
Section 80L Section 80L
True/False
*Question -The consideration for transfer of Capital Asset is received by the
transferor is not material while Capital gain chargeable to tax.
Correct Answer -True
Your Answer True
True/False
*Question -The payments for claiming the tax rebate u/s 88 of the IT Act should
be made out of the income chargeable to tax.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -In case of any contribution made by an individual or a HUF to notified
units of any approved mutual fund or of Unit Trust of India in
accordance with a notified scheme (Equity Linked Savings Scheme)
:-
Correct Answer -The maximum allowable limit is Rs. 10,000
Your Answer Qualifies for tax rebate under section 88D.
True/False
*Question -Dividend received from domestic company to its shareholders is
taxable in the hands of the shareholder.
Correct Answer -False
Your Answer False
Select The Blank
*Question -Loss from the activity of owning and maintaining the race horses can
be carried forward and set off in the subsequent Assessment Years
subject to the limit of ________ Assessment years.
Correct Answer -4
Your Answer 4
Select The Blank
*Question -If the property becomes the property of the assessee before
________, the Fair Market Value of the property of the capital asset
on that date will be considered to be the cost of acquisition
Correct Answer -1st April 1981
Your Answer 1st April 1991
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
Select The Blank
*Question -After deducting interest on capital & remuneration to partners, firm is
required to pay tax @ ________
Correct Answer -Tax 35% + 2% SC +2% EC
Your Answer Tax 35% + 2% SC +2% EC
Multiple Choice Multiple Answer
*Question -Under the clause No-32 of the Act, in the Tax Audit Report, the
Auditor is required to give the accounting calculation in ratios of :-
Correct Answer -Gross profit/turnover , Net profit/turnover , Stock in trade/turnover
Your Answer Gross profit/turnover , Net profit/turnover , Stock in trade/turnover

Taxation - 7

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
True/False
*Question -Deductions for income tax, payable by the employed person is
permissible.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -Proxy form should be deposited with the company :-
Correct Answer -48 hours before the meeting
Your Answer 48 hours before the meeting
Match The Following
*Question -Correct Answer -Your Answer
Deduction for absence of
duty
Section 9 Section 9
Deductions for payment to
insurance and post office
Section 7(2) Section 7(2)
Amendment to pay by
cheques
1976 Amendment to pay by cash
Fine Section 8 Section 8
Multiple Choice Single Answer
*Question -To whom does the payment of wages act apply to ?
Correct Answer -Persons employed in any factory
Your Answer Persons employed in any factory
Select The Blank
*Question -A person who stands for directorship other than retiring director
has to give notice to the company at least ________ before the
date of general meeting.
Correct Answer -14 days
Your Answer 7 days
Multiple Choice Single Answer
*Question -Audit committee shall consist of not less than :-
Correct Answer -Three directors
Your Answer Three directors
True/False
*Question -A temporary workman is not entitled to bonus though he works
for a few days in the organisation.
Correct Answer -False
Your Answer False
Multiple Choice Multiple Answer
*Question -Who is entitled to bonus?
Correct Answer -Temporary workmen , Part time employee , Retrenched
employee
Your Answer Temporary workmen , Part time employee , Retrenched
employee
Multiple Choice Single Answer
*Question -A director is deemed to be interested in a contract if he holds
paid up capital of the company exceeding :-
Correct Answer -0.02
Your Answer 0.02
Select The Blank
*Question -To avoid conflicts of interest, ________ committee would
determine the remuneration packages of the executive directors.
Correct Answer -Remuneration
Your Answer Management
Multiple Choice Single Answer
*Question -If an auditor after his appointment becomes subject to any of the
disqualifications, it is treated that the office is :-
Correct Answer -Vacated
Your Answer Vacated
Select The Blank
*Question -Free selling/drawl of foreign exchange to authorized dealer(AD)
for ________.
Correct Answer -Current account
Your Answer Current account
Multiple Choice Single Answer
*Question -What is the minimum salary under which the persons are
covered in this act?
Correct Answer -Less than Rs 1600
Your Answer Less than Rs 1200/-
Multiple Choice Single Answer
*Question -In case a company has an executive director, how much
percentage of the board of Directors should comprise of
independent directors?
Correct Answer -0.5
Your Answer 0.5
True/False
*Question -Acquiring foreign security on gift is allowed.
Correct Answer -True
Your Answer False
True/False
*Question -An employee employed through contractors on building
operations is entitled to bonus.
Correct Answer -False
Your Answer False
Multiple Choice Multiple Answer
*Question -Borrowings for Indian companies are for :-
Correct Answer -In Rupees , On repatriation , Non-repatriation
Your Answer In Rupees , On repatriation
True/False
*Question -An apprentice is not entitled to bonus.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -FEMA allows free selling of foreign exchange to/from whom from
current transaction?
Correct Answer -Authorised Dealer
Your Answer Authorised Dealer
Multiple Choice Single Answer
*Question -Define an employed person under section 2 of the act.
Correct Answer -Includes legal representative of a deceased employed person
Your Answer Any establishment
Select The Blank
*Question -A member shall have right to apply for operations and
mismanagement of the company provided application is made
bymembers not less than ________ or by the members holding
not less than one tenth of total number of shares in the share
capital of the company.
Correct Answer -100
Your Answer 100
Multiple Choice Multiple Answer
*Question -Who has not prescribed particular set of documentation for
current account remittances?
Correct Answer -RBI , Central Govt.
Your Answer RBI , Central Govt.
Select The Blank
*Question -The uses and applications of the funds raised shall be disclosed
to the audit committee on a ________basis.
Correct Answer -Quarterly
Your Answer Yearly
Select The Blank
*Question -For Special Resolution, votes cast in favour of the resolution
should be ________ times more than votes cast against the
resolution.
Correct Answer -3
Your Answer 3
Multiple Choice Multiple Answer
*Question -Object Clauses are divided into :-
Correct Answer -Main Object , Object incidental or ancillary to Main , Other
Objects
Your Answer Main Object , Object incidental or ancillary to Main , Other
Objects
True/False
*Question -Charge includes Mortgage.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -When was the factories act passed?
Correct Answer -In 1948
Your Answer In 1948
Multiple Choice Multiple Answer
*Question -Public limited company's directors have following conditions :-
Correct Answer -Minimum number is three , Should be individuals , Have sound
mind
Your Answer Minimum number is three , Should be individuals , Have sound
mind
True/False
*Question -Government can authorise for supply of essential commodities at
concessional rates and pay wages in kind.
Correct Answer -True
Your Answer True
Select The Blank
*Question -A ________ shall not be made for the appointment of two or
more persons as directors of the company by single resolution in
any general meeting of public company, unless resolution has
been agreed by meeting without any vote being given against it.
Correct Answer -Motion
Your Answer Resolution
Select The Blank
*Question -Preference shareholders have ________ to get dividend over
equity share holders.
Correct Answer -Preferential right
Your Answer Preferential right
Multiple Choice Multiple Answer
*Question -What is the manner of fixation of minimum wages?
Correct Answer -Time work known as minimum time rate , Piece work known as
minimum piece rate , Guaranteed time rate for those employed
in piece work for the purpose of securing to such employees a
minimum rate of wages on time work basis
Your Answer Time work known as minimum time rate , Piece work known as
minimum piece rate , Guaranteed time rate for those employed
in piece work for the purpose of securing to such employees a
minimum rate of wages on time work basis
Multiple Choice Multiple Answer
*Question -Form No. 1 can be signed by :-
Correct Answer -Chartered Accountant , Cost & Works Accountant , Advocate
Your Answer Chartered Accountant , Cost & Works Accountant , Advocate
Multiple Choice Single Answer
*Question -When was the minimum wages act passed ?
Correct Answer -1948
Your Answer 1948
Select The Blank
*Question -Director has to vacate his office, if he has been ________ by a
court of any offence involving moral turpitude.
Correct Answer -Convicted
Your Answer Convicted
Match The Following
*Question -Correct Answer -Your Answer
Section 2(vi) Wages Wages
Wages act 1936 1936
Factories act 1948 1948
Section 3 of wages act Every employer
responsible for payment to
employed persons
Every employer
responsible for payment to
employed persons
Multiple Choice Single Answer
*Question -The Board of directors of the company has power to appoint an
additional director :-
Correct Answer -Up to maximum permissible limit
Your Answer Up to maximum permissible limit
Select The Blank
*Question -The Forms 8 &13 should be filed in ________ to ragistrar of
companies.
Correct Answer -Triplicate
Your Answer Triplicate
Multiple Choice Multiple Answer
*Question -Retiring director shall be deemed to be reappointed unless :-
Correct Answer -He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has
been put to vote & lost
Your Answer He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has
been put to vote & lost
Multiple Choice Single Answer
*Question -Payment of wages act came into existence :-
Correct Answer -To ensure regular and timely payment of wages to employed
persons
Your Answer To ensure regular and timely payment of wages to employed
persons
Multiple Choice Single Answer
*Question -What is computed by the competent authority at concessional
rates?
Correct Answer -Cost of living allowance and cash value
Your Answer Cost of living allowance and cash value
Multiple Choice Single Answer
*Question -Minimum gap required between date of dispatch of notice and
date of AGM is :-
Correct Answer -25 days
Your Answer 21 days
Multiple Choice Single Answer
*Question -In which case did the Bombay high court observe the general
purpose of the act?
Correct Answer -Arvind mills ltd case
Your Answer Arvind mills ltd case
Multiple Choice Single Answer
*Question -Settlement of gift or lawful obligation shall be surrendered within
:-
Correct Answer -Seven days
Your Answer Four days
Multiple Choice Multiple Answer
*Question -Board's Report shall include :-
Correct Answer -Dividend recommended , Financial position of the company ,
Amounts transferred to Reserves
Your Answer Dividend recommended , Taxes paid , Financial position of the
company
True/False
*Question -The independent director is a supplier of a service provider of
the company.
Correct Answer -False
Your Answer False
Select The Blank
*Question -WOS can make payment of royalty by ________ route.
Correct Answer -Automatic route
Your Answer Automatic route
LIST OF ATTEMPTED QUESTIONS AND ANSWERS
True/False
*Question -Deductions for income tax, payable by the employed person is
permissible.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -Proxy form should be deposited with the company :-
Correct Answer -48 hours before the meeting
Your Answer 48 hours before the meeting
Match The Following
*Question -Correct Answer -Your Answer
Deduction for absence of
duty
Section 9 Section 9
Deductions for payment to
insurance and post office
Section 7(2) Section 7(2)
Amendment to pay by
cheques
1976 Amendment to pay by cash
Fine Section 8 Section 8
Multiple Choice Single Answer
*Question -To whom does the payment of wages act apply to ?
Correct Answer -Persons employed in any factory
Your Answer Persons employed in any factory
Select The Blank
*Question -A person who stands for directorship other than retiring director
has to give notice to the company at least ________ before the
date of general meeting.
Correct Answer -14 days
Your Answer 7 days
Multiple Choice Single Answer
*Question -Audit committee shall consist of not less than :-
Correct Answer -Three directors
Your Answer Three directors
True/False
*Question -A temporary workman is not entitled to bonus though he works
for a few days in the organisation.
Correct Answer -False
Your Answer False
Multiple Choice Multiple Answer
*Question -Who is entitled to bonus?
Correct Answer -Temporary workmen , Part time employee , Retrenched
employee
Your Answer Temporary workmen , Part time employee , Retrenched
employee
Multiple Choice Single Answer
*Question -A director is deemed to be interested in a contract if he holds
paid up capital of the company exceeding :-
Correct Answer -0.02
Your Answer 0.02
Select The Blank
*Question -To avoid conflicts of interest, ________ committee would
determine the remuneration packages of the executive directors.
Correct Answer -Remuneration
Your Answer Management
Multiple Choice Single Answer
*Question -If an auditor after his appointment becomes subject to any of the
disqualifications, it is treated that the office is :-
Correct Answer -Vacated
Your Answer Vacated
Select The Blank
*Question -Free selling/drawl of foreign exchange to authorized dealer(AD)
for ________.
Correct Answer -Current account
Your Answer Current account
Multiple Choice Single Answer
*Question -What is the minimum salary under which the persons are
covered in this act?
Correct Answer -Less than Rs 1600
Your Answer Less than Rs 1200/-
Multiple Choice Single Answer
*Question -In case a company has an executive director, how much
percentage of the board of Directors should comprise of
independent directors?
Correct Answer -0.5
Your Answer 0.5
True/False
*Question -Acquiring foreign security on gift is allowed.
Correct Answer -True
Your Answer False
True/False
*Question -An employee employed through contractors on building
operations is entitled to bonus.
Correct Answer -False
Your Answer False
Multiple Choice Multiple Answer
*Question -Borrowings for Indian companies are for :-
Correct Answer -In Rupees , On repatriation , Non-repatriation
Your Answer In Rupees , On repatriation
True/False
*Question -An apprentice is not entitled to bonus.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -FEMA allows free selling of foreign exchange to/from whom from
current transaction?
Correct Answer -Authorised Dealer
Your Answer Authorised Dealer
Multiple Choice Single Answer
*Question -Define an employed person under section 2 of the act.
Correct Answer -Includes legal representative of a deceased employed person
Your Answer Any establishment
Select The Blank
*Question -A member shall have right to apply for operations and
mismanagement of the company provided application is made
bymembers not less than ________ or by the members holding
not less than one tenth of total number of shares in the share
capital of the company.
Correct Answer -100
Your Answer 100
Multiple Choice Multiple Answer
*Question -Who has not prescribed particular set of documentation for
current account remittances?
Correct Answer -RBI , Central Govt.
Your Answer RBI , Central Govt.
Select The Blank
*Question -The uses and applications of the funds raised shall be disclosed
to the audit committee on a ________basis.
Correct Answer -Quarterly
Your Answer Yearly
Select The Blank
*Question -For Special Resolution, votes cast in favour of the resolution
should be ________ times more than votes cast against the
resolution.
Correct Answer -3
Your Answer 3
Multiple Choice Multiple Answer
*Question -Object Clauses are divided into :-
Correct Answer -Main Object , Object incidental or ancillary to Main , Other
Objects
Your Answer Main Object , Object incidental or ancillary to Main , Other
Objects
True/False
*Question -Charge includes Mortgage.
Correct Answer -True
Your Answer True
Multiple Choice Single Answer
*Question -When was the factories act passed?
Correct Answer -In 1948
Your Answer In 1948
Multiple Choice Multiple Answer
*Question -Public limited company's directors have following conditions :-
Correct Answer -Minimum number is three , Should be individuals , Have sound
mind
Your Answer Minimum number is three , Should be individuals , Have sound
mind
True/False
*Question -Government can authorise for supply of essential commodities at
concessional rates and pay wages in kind.
Correct Answer -True
Your Answer True
Select The Blank
*Question -A ________ shall not be made for the appointment of two or
more persons as directors of the company by single resolution in
any general meeting of public company, unless resolution has
been agreed by meeting without any vote being given against it.
Correct Answer -Motion
Your Answer Resolution
Select The Blank
*Question -Preference shareholders have ________ to get dividend over
equity share holders.
Correct Answer -Preferential right
Your Answer Preferential right
Multiple Choice Multiple Answer
*Question -What is the manner of fixation of minimum wages?
Correct Answer -Time work known as minimum time rate , Piece work known as
minimum piece rate , Guaranteed time rate for those employed
in piece work for the purpose of securing to such employees a
minimum rate of wages on time work basis
Your Answer Time work known as minimum time rate , Piece work known as
minimum piece rate , Guaranteed time rate for those employed
in piece work for the purpose of securing to such employees a
minimum rate of wages on time work basis
Multiple Choice Multiple Answer
*Question -Form No. 1 can be signed by :-
Correct Answer -Chartered Accountant , Cost & Works Accountant , Advocate
Your Answer Chartered Accountant , Cost & Works Accountant , Advocate
Multiple Choice Single Answer
*Question -When was the minimum wages act passed ?
Correct Answer -1948
Your Answer 1948
Select The Blank
*Question -Director has to vacate his office, if he has been ________ by a
court of any offence involving moral turpitude.
Correct Answer -Convicted
Your Answer Convicted
Match The Following
*Question -Correct Answer -Your Answer
Section 2(vi) Wages Wages
Wages act 1936 1936
Factories act 1948 1948
Section 3 of wages act Every employer
responsible for payment to
employed persons
Every employer
responsible for payment to
employed persons
Multiple Choice Single Answer
*Question -The Board of directors of the company has power to appoint an
additional director :-
Correct Answer -Up to maximum permissible limit
Your Answer Up to maximum permissible limit
Select The Blank
*Question -The Forms 8 &13 should be filed in ________ to ragistrar of
companies.
Correct Answer -Triplicate
Your Answer Triplicate
Multiple Choice Multiple Answer
*Question -Retiring director shall be deemed to be reappointed unless :-
Correct Answer -He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has
been put to vote & lost
Your Answer He has expressed his unwillingness to be re-appointed , He is
disqualified for appointment , Resolution for reappointment has
been put to vote & lost
Multiple Choice Single Answer
*Question -Payment of wages act came into existence :-
Correct Answer -To ensure regular and timely payment of wages to employed
persons
Your Answer To ensure regular and timely payment of wages to employed
persons
Multiple Choice Single Answer
*Question -What is computed by the competent authority at concessional
rates?
Correct Answer -Cost of living allowance and cash value
Your Answer Cost of living allowance and cash value
Multiple Choice Single Answer
*Question -Minimum gap required between date of dispatch of notice and
date of AGM is :-
Correct Answer -25 days
Your Answer 21 days
Multiple Choice Single Answer
*Question -In which case did the Bombay high court observe the general
purpose of the act?
Correct Answer -Arvind mills ltd case
Your Answer Arvind mills ltd case
Multiple Choice Single Answer
*Question -Settlement of gift or lawful obligation shall be surrendered within
:-
Correct Answer -Seven days
Your Answer Four days
Multiple Choice Multiple Answer
*Question -Board's Report shall include :-
Correct Answer -Dividend recommended , Financial position of the company ,
Amounts transferred to Reserves
Your Answer Dividend recommended , Taxes paid , Financial position of the
company
True/False
*Question -The independent director is a supplier of a service provider of
the company.
Correct Answer -False
Your Answer False
Select The Blank
*Question -WOS can make payment of royalty by ________ route.
Correct Answer -Automatic route
Your Answer Automatic route

Taxation - 6

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

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

Taxation
-------------
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 -TrueYour 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