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Commerce Questions and Answers for Competitive Exams | Commerce Quiz Set 4

Questions
1 Which one of the following is a false statement ?
1 Ramsey pricing rates to the methodology of pricing to situations where firms are regulated and the maximization of allocative efficiency is the objective of pricing together with the objective of profit - maximization.
2 Peak-load pricing is a pricing practice where price varies with time of the day
3 Value-pricing is the practice of pricing where the price is set based on its value to the customer.
4 Two - part tariff refers to a price structure which has two parts - a lump sum charge and a variable charge.

Answer: Ramsey pricing rates to the methodology of pricing to situations where firms are regulated and the maximization of allocative efficiency is the objective of pricing together with the objective of profit - maximization.
2 All the properties of order, interval and zero origin are simultaneously possessed by :
1 Nominal Data
2 Interval Data
3 Ratio Data
4 Ordinal Data

Answer: Ratio Data
3 Which one of the following is not the correct statement regarding sampling distribution of mean ?
1 Sampling distribution of mean is normally distributed for large sized samples.
2 Sampling distribution of mean is normally distributed for small sized samples drawn from not normally distributed population.
3 ‘t’ distribution is not normally distributed.
4 Mean of the sampling distribution of mean is equal to the parametric value of mean

Answer: Sampling distribution of mean is normally distributed for small sized samples drawn from not normally distributed population.
4 The process of thoroughly checking the collected data to ensure optimal quality level is referred to as :
1 Editing
2 Classification
3 Entry
4 Validation

Answer: Validation
5 Find out the correct combination of statements with regards to business ethics :
  • (a) Business ethics is the behaviour that a business adheres to in its daily dealings.
  • (b) The ethics of a particular business can be diverse.
  • (c) Business ethics has normative and descriptive dimensions.
1 Only (a) and (b)
2 Only (a) and (c)
3 Only (b) and (c)
4 All (a), (b) and (c)

Answer: All (a), (b) and (c)
6 Which one of the following is not correct about business ethics ?
1 Business ethics reflects the philosophy of business.
2 Business ethics is a form of applied ethics.
3 Business ethics are governed by the Government Policies.
4 Ethics are the standards which govern decisions on daily basis

Answer: Business ethics are governed by the Government Policies.
7 A marketing network consists of :
1 The tasks to devise marketing activities.
2 The tasks of hiring, training and motivating employees.
3 The activities that help in designing and implementing the marketing programmes
4 The company and its supporting stakeholders with whom it has built mutually profitable business relationships

Answer: The company and its supporting stakeholders with whom it has built mutually profitable business relationships
8 The pricing strategy which adjusts the basic price to accommodate differences in customers, products and locations is called
1 Differentiated pricing
2 Promotional pricing
3 Geographical pricing
4 Price discounts and allowances

Answer: Differentiated pricing
9 Horizontal marketing system comprises of :
1 the producer, wholesaler and retailer acting in a unified system
2 multichannel marketing.
3 two or more marketing channels to reach one or more customer segments.
4 two or more unrelated companies put together resources to exploit an emerging market.

Answer: two or more unrelated companies put together resources to exploit an emerging market.
10 Which of the following techniques for appraisal of investment proposals are based on time value of money ?
  • (a) Accounting Rate of Return
  • (b) Internal Rate of Return
  • (c) Profitability Index Method
  • (d) Earnings Per Share
1 (a) and (b)
2 (a) and (d)
3 (b) and (c)
4 (a),

Answer: (b) and (c)
11 Which one of the following assumptions is not included in the James E. Walter Valuation model ?
1 All financing by retained earnings only
2 No change in the key variables such as EPS and DPS
3 The firm has finite life
4 All earnings are either distributed as dividends or invested internally immediately

Answer: The firm has finite life
12 Which one of the following is a traditional method for selection of personnel ?
1 Interview
2 Selection Test
3 Phrenology
4 Aptitude Test

Answer: Phrenology
13 The method of training in crafts, trades and technical areas is known as :
1 Vestibule training
2 Coaching
3 Mentoring
4 Apprenticeship

Answer: Apprenticeship
14 Behaviourally Anchored Rating Scale is a technique used for :
1 Selection
2 Succession Planning
3 Recruitment
4 Performance appraisal

Answer: Performance appraisal
15 Which one of the following is not a mechanism of managing stress ?
1 Rust out
2 Cognitive therapy
3 Job enrichment
4 Networking

Answer: Rust out

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