Questions

Q:

Select the missing number from the given alternatives

A) 19 B) 22
C) 26 D) 25
 
Answer & Explanation Answer: D) 25

Explanation:
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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

Credit when used responsibly, can achieve a great number (1)/ of positive things in our lives, such as (2)/ financing and paying of our dream hybrid or college tuition fees. (3)/ No error (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: C) 3

Explanation:
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Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

 

Rat race

 

A) Make others fight for scraps and get sadistic pleasure out of it B) Be an oppressive boss and treat employees like animals
C) A way of life in which people are caught up in a fiercely competitive struggle for wealth or power D) Play games with the lives of other people and see them run aimlesly
 
Answer & Explanation Answer: C) A way of life in which people are caught up in a fiercely competitive struggle for wealth or power

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Q:

The question below consists of a set of labelled sentences. These sentences, when properly sequenced form a coherent paragraph. Select the most logical order of sentences from among the options.

 

P: If the intention is just to consume whatever comes from the West, then it is harmful.
Q: Some of its effects are really helping and positive as it increases initiative and entrepreneurship qualities provided taken in that spirit.
R: At the same time state’s strategic intervention is essential because more than 40% of people live below poverty line.
S: The impact of economic reforms are mixed.

 

A) SRQP B) SQPR
C) RQPS D) QPSR
 
Answer & Explanation Answer: B) SQPR

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

The general consensus is that the millennial _____________ with taking pictures of everything stems from the tendency to over- share on social media, but it may also be a manifestation _______________ our relationship with an increasingly unstable present. When everything around you _______________ before you can register it, it is tempting to reach into your pocket for your smartphone, click away, and think about it later, even ___________ the subject is as simple as a slice of toast. The selfie may be narcissistic, but it is ___________ a self-portrait that anchors you to a time and place, be it your first holiday abroad or the nightclub you visit every weekend.

 

but it is ___________ a self-portrait that anchors

 

A) all   B) then  
C) such   D) also
 
Answer & Explanation Answer: D) also

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Q:

The principles of internal control include

A) Maintain Records B) Segregate of Duties
C) Mandatory Employee Rotation D) All the above
 
Answer & Explanation Answer: D) All the above

Explanation:

The principles of internal control are the concepts management uses to establish the ways to protect company assets.


The main internal control principles include:

  • Establish Responsibilities
  • Maintain Records
  • Insure Assets by Bonding Key Employees
  • Segregate of Duties
  • Mandatory Employee Rotation
  • Split Related Party Responsibility
  • Use Technological Controls
  • Perform Regular Independent Reviews

 

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Q:

Which one of the following is not an assumption in the law of demand?

A) There are no changes in the taste and preferences of consumers B) Income of consumers remains constant
C) Consumers are affected by demonstration effect D) There are no changes in the price of substitute goods.
 
Answer & Explanation Answer: C) Consumers are affected by demonstration effect

Explanation:

There are certain assumptions underlying the law of demand, which are as follows:

i. Assumes that the consumer’s income remains same

ii. Assumes that the preferences of consumer remain same.

iii. Considers that the fashion does not show any changes, because if fashion changes, then people would not purchase the products that are out of fashion.

iv. Assumes that there would be no change in the age structure, size, and sex ratio of population. This is because if population size increases, then the number of buyers increases, which, in turn, affect the demand for a product directly.

v. Restricts the innovation and new varieties of products in the market, which can affect the demand for the existing product.

vi. Restricts changes in the distribution of income.

vii. Avoids any type of change fiscal policies of the government of a nation, which reduces the effect of taxation on the demand of product.

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Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous. D) Buyers and sellers in the market are assumed to have perfect information.
 
Answer & Explanation Answer: B) Average total costs continually decrease.

Explanation:
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