q

Delhi University Entrance Test (DUET) 2020 Previous Year Question Paper With Answer Key

This post was last modified on 27 December 2020

Download Document

This download link is referred from the post: DUET Last 10 Years 2011-2021 Question Papers With Answer Key || Delhi University Entrance Test conducted by the NTA

Topic:- MCOM S2

Under conditions of perfect competition if a particular firm is facing a price which is greater than average variable cost but less than average cost, then [Question ID = 8092]
1. The firm is recovering the entire variable costs but not recovering some part of the fixed costs and is facing losses. [Option ID = 32362]
2. The firm is recovering the entire fixed costs but not recovering some part of the variable costs and is facing losses. [Option ID = 32363]
3. The firm must necessarily shut down operations as it faces losses in the short run [Option ID = 32364]
4. The firm is earning profits as prices are greater than average variable cost. [Option ID = 32365]
Correct Answer :-

• The firm is recovering the entire variable costs but not recovering some part of the fixed costs and is facing losses. [Option ID = 32362]

--- Content provided by FirstRanker.com ---

Under the Keynesian Theory of Employment, Interest and Income, the monetary policy shall be less effective if: [Question ID = 8093]
1. Interest rates fell [Option ID = 32366]
2. Interest rates rose [Option ID = 32367]
3. Investment demand is inelastic [Option ID = 32368]
4. Investment demand is elastic [Option ID = 32369]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Investment demand is inelastic [Option ID = 32368]
Oligopoly is a market structure wherein there is:-
1. intense competition among few firms in the industry.
2. firms could be producing homogeneous or differentiated products
3. firms recognise interdependence in their decision making
4. firms may enter into overt or tacit cartels.
Choose the correct answer from the options given below:- [Question ID = 8094]
1. A and D only [Option ID = 32370]
2. A, C and D only [Option ID = 32371]
3. A, B and D only [Option ID = 32372]
4. A, B, C and D only [Option ID = 32373]
Correct Answer :-

• A, B, C and D only [Option ID = 32373]
Which of the following stakeholders are most financially hurt under conditions of unanticipated inflation? [Question ID = 8095]
1. Borrowers with fixed rate loans [Option ID = 32374]
2. Borrowers with variable rate loans [Option ID = 32375]
3. Creditors [Option ID = 32376]
4. Neither borrowers and nor creditors are hurt. [Option ID = 32377]
Correct Answer :-

• Creditors [Option ID = 32376]

--- Content provided by FirstRanker.com ---

The production possibility curve is often represented as concave (bowed out) from the origin because of [Question ID = 8096]
1. Decreasing opportunity cost [Option ID = 32378]
2. Increasing opportunity cost [Option ID = 32379]
3. Constant opportunity cost [Option ID = 32380]
4. Constant returns to scale [Option ID = 32381]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Increasing opportunity cost [Option ID = 32379]
[Question ID = 8097]
1. Increase in aggregate supply [Option ID = 32382]
2. Increase in aggregate demand [Option ID = 32383]
3. Decrease in aggregate supply [Option ID = 32384]
4. Decrease in aggregate demand [Option ID = 32385]
Correct Answer :-

• Decrease in aggregate supply [Option ID = 32384]
The price of good rises from Rs 4 to Rs 5 per unit and the quantity demanded for that good contracts from 100 units to 80 units. The price elasticity of demand for the good (in absolute terms) is:- [Question ID = 8098]
1. 1 [Option ID = 32386]
2. 0.8 [Option ID = 32387]
3. 1 [Option ID = 32388]
4. - 0.8 [Option ID = 32389]
Correct Answer :-

• 1 [Option ID = 32386]
--- Content provided by FirstRanker.com ---
Economic growth will be sluggish when interest rates rise, because; [Question ID = 8099]
1. Firms will invest in fewer projects with future payoffs thus limiting growth. [Option ID = 32390]
2. Firms will invest in more projects with future payoffs thus limiting growth. [Option ID = 32391]
3. Firms will invest the same amount in projects with future payoffs at all interest levels thus leaving growth unaffected. [Option ID = 32392]
4. Firms will pay more in dividends and as a result retained earnings will fall. [Option ID = 32393]
Correct Answer :-

• Firms will invest in fewer projects with future payoffs thus limiting growth. [Option ID = 32390]
For a monopoly firm, under conditions of short run equilibrium earning just normal profits, the following relationship holds true between price (P) and marginal cost (MC) [Question ID = 8100]
1. P> MC [Option ID = 32394]
2. P< MC [Option ID = 32395]
3. P=MC [Option ID = 32396]
4. P and MC are unrelated [Option ID = 32397]
Correct Answer :-

• P> MC [Option ID = 32394]

--- Content provided by FirstRanker.com ---

A basic assumption of the Classical School of economic thought is: [Question ID = 8101]
1. Prices and wages are flexible. [Option ID = 32398]
2. Short-run inflation is unlikely to occur. [Option ID = 32399]
3. Short-run unemployment is unlikely to occur. [Option ID = 32400]
4. will reach equilibrium at any level of output. [Option ID = 32401]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Prices and wages are flexible. [Option ID = 32398]
Existence of external diseconomies of scale shall cause the [Question ID = 8102]
1. Long run average cost curve to fall [Option ID = 32402]
2. Long run average cost curve to rise [Option ID = 32403]
3. Long run average cost curve to shift downwards [Option ID = 32404]
4. Long run average cost curve to shift upwards [Option ID = 32405]
Correct Answer :-

• Long run average cost curve to shift upwards [Option ID = 32405]
An increase in the long run aggregate supply curve can be caused by [Question ID = 8103]
1. An increase in government spending. [Option ID = 32406]
2. An increase in literacy levels of the population. [Option ID = 32407]
3. An increase in taxes. [Option ID = 32408]
4. An increase in interest rates. [Option ID = 32409]
Correct Answer :-

• An increase in literacy levels of the population. [Option ID = 32407]
--- Content provided by FirstRanker.com ---
Which of the following conditions are to be satisfied for a market structure to be termed as monopol?
1. there is only one seller in the market
2. the seller produces a product for which there are no close substitutes
3. there exist strong barriers to entry
4. the monopoly firm has an upward rising supply curve.
Choose the correct answer from the options given below:- [Question ID = 8104]
1. A, B and C only [Option ID = 32410]
2. A, B, C and D only [Option ID = 32411]
3. A only [Option ID = 32412]
4. A, B and D only [Option ID = 32413]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• A, B and C only [Option ID = 32410]
An adverse supply shock [Question ID = 8105]
1. Can be anticipated and decreases aggregate supply [Option ID = 32414]
2. Cannot be anticipated but decreases aggregate supply [Option ID = 32415]
3. Can be anticipated and increases aggregate supply [Option ID = 32416]
4. Cannot be anticipated but increases aggregate supply [Option ID = 32417]
Correct Answer :-

• Cannot be anticipated but decreases aggregate supply [Option ID = 32415]
What describes the most appropriate relationship between social cost, private cost and external cost in context of "negative externalities of production": [Question ID = 8106]
1. Social Cost= Private Cost - External Cost [Option ID = 32418]
2. Social Cost = Private Cost + External Cost [Option ID = 32419]
3. Social Cost= (Private Cost) multiplied by (External Cost) [Option ID = 32420]
4. Social costs, private costs and external costs are unrelated to each other. [Option ID = 32421]
Correct Answer :-

• Social Cost = Private Cost + External Cost [Option ID = 32419]
--- Content provided by FirstRanker.com ---
During the expansionary phase of the business cycle [Question ID = 8107]
1. GDP declines and inflation rises. [Option ID = 32422]
2. Inflation rises and unemployment falls. [Option ID = 32423]
3. Real GDP rises and unemployment falls. [Option ID = 32424]
4. Interest rates rise and the number of business failures will increase. [Option ID = 32425]
Correct Answer :-

• Real GDP rises and unemployment falls. [Option ID = 32424]
A monopolistically competitive firm advertises in order to [Question ID = 8108]
1. Reduce the industry's barrier to entry [Option ID = 32426]
2. Shift the demand curve for its product to the left [Option ID = 32427]
3. Make the demand for its product less price elastic [Option ID = 32428]
4. Increase its negative externalities [Option ID = 32429]
Correct Answer :-

• Make the demand for its product less price elastic [Option ID = 32428]

--- Content provided by FirstRanker.com ---

Initially, a country is in a no-trade situation and then this country decides to allow imports of a good. This will result in: [Question ID = 8109]
1. Domestic consumers lose, domestic producers gain, and the gains outweigh the losses. [Option ID = 32430]
2. Domestic consumers gain, domestic producers lose, and the gains outweigh the losses [Option ID = 32431]
3. Domestic consumers gain, domestic producers lose, and the losses outweigh the gains. [Option ID = 32432]
4. Domestic consumer gain, but domestic producers lose an equal amount [Option ID = 32433]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Domestic consumers gain, domestic producers lose, and the gains outweigh the losses [Option ID = 32431]
How much health and educational cess in 2019 has been imposed by the government on all union taxes? [Question ID = 8110]
1. 1% [Option ID = 32434]
2. 4% [Option ID = 32435]
3. 3% [Option ID = 32436]
4. 5% [Option ID = 32437]
Correct Answer :-

• 4% [Option ID = 32435]
Who recommends the Minimum Support Price (MSP) fixed by the government? [Question ID = 8111]
1. Ministry of Finance [Option ID = 32438]
2. Empowered group of ministers [Option ID = 32439]
3. CACP [Option ID = 32440]
4. Minister of Agriculture [Option ID = 32441]
Correct Answer :-

• CACP [Option ID = 32440]
--- Content provided by FirstRanker.com ---
Identify the correct relationship between Marginal Standing Facility Rate (MSF), Repo rate (RR) and Reverse Repo Rate (RRR) [Question ID = 8112]
1. MSF > RR > RRR [Option ID = 32442]
2. MSF < RR < RRR [Option ID = 32443]
3. MSF > RRR > RR [Option ID = 32444]
4. RRR > MSF > RR [Option ID = 32445]
Correct Answer :-

• MSF > RR > RRR [Option ID = 32442]
The Asset Management Company managing Bharat ETF 22 is [Question ID = 8113]
1. Bajaj Allianz [Option ID = 32446]
2. ICICI Prudential [Option ID = 32447]
3. Axis [Option ID = 32448]
4. DHFL [Option ID = 32449]
Correct Answer :-

• ICICI Prudential [Option ID = 32447]

--- Content provided by FirstRanker.com ---

Smart Metering System will be used for measuring [Question ID = 8114]
1. Smart Cities in meters [Option ID = 32450]
2. Consumption of electric energy [Option ID = 32451]
3. Food Intake by Individuals [Option ID = 32452]
4. Consumption of Energy fuels [Option ID = 32453]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Consumption of electric energy [Option ID = 32451]
Bharat net is related to [Question ID = 8115]
1. Connecting the rivers of India [Option ID = 32454]
2. Building ports in coastal towns [Option ID = 32455]
3. Providing Broad Band Services to Rural areas [Option ID = 32456]
4. Building Highways network [Option ID = 32457]
Correct Answer :-

• Providing Broad Band Services to Rural areas [Option ID = 32456]
The 2019 Ease of Doing Business Ranking in India is [Question ID = 8116]
1. 60 [Option ID = 32458]
2. 66 [Option ID = 32459]
3. 69 [Option ID = 32460]
4. 63 [Option ID = 32461]
Correct Answer :-

• 63 [Option ID = 32461]
--- Content provided by FirstRanker.com ---
In case of rising prices (inflation), FIFO method will: [Question ID = 8117]
1. Provide lowest value of closing stock and profit [Option ID = 32462]
2. Provide highest value of closing stock and profit [Option ID = 32463]
3. Provide highest value of closing stock but lowest value of profit [Option ID = 32464]
4. Provide highest value of profit but lowest value of closing stock [Option ID = 32465]
Correct Answer :-

• Provide highest value of closing stock and profit [Option ID = 32463]
Which of the following will cause difference on a trial balance [Question ID = 8118]
1. An invoice omitted from the sale day book [Option ID = 32466]
2. An invoice of Rs1500 entered in the sale day book as 15000 [Option ID = 32467]
3. An invoice of Rs5000 entered in the sale day book not included in the monthly total [Option ID = 32468]
4. Credit note entered in the sales day book [Option ID = 32469]
Correct Answer :-

• An invoice of Rs5000 entered in the sale day book not included in the monthly total [Option ID = 32468]

--- Content provided by FirstRanker.com ---

International Accounting Standards (IAS) have been developed by:- [Question ID = 8119]
1. The European commission [Option ID = 32470]
2. The International accounting standard committee [Option ID = 32471]
3. The financial reporting council [Option ID = 32472]
4. All of these [Option ID = 32473]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• The International accounting standard committee [Option ID = 32471]
How many years' financial statements are required to be annexed to the declaration for initiating voluntary liquidation? [Question ID = 8120]
1. Previous 2 years or the period since incorporation whichever is later [Option ID = 32474]
2. Previous 2 years or the period since incorporation whichever is prior [Option ID = 32475]
3. Previous 3 years or the period since incorporation whichever is later [Option ID = 32476]
4. Previous 5 years or the period since incorporation whichever is later [Option ID = 32477]
Correct Answer :-

• Previous 2 years or the period since incorporation whichever is later [Option ID = 32474]
Which one of the following item cannot be recorded in the appropriation account in case of partnership accounting [Question ID = 8121]
1. Interest on capital [Option ID = 32478]
2. Interest on drawings [Option ID = 32479]
3. Rent paid to partners [Option ID = 32480]
4. Partners salary [Option ID = 32481]
Correct Answer :-

• Rent paid to partners [Option ID = 32480]
--- Content provided by FirstRanker.com ---
In the absence of partnership deed, interest on partners loan is payable by firm @ [Question ID = 8122]
1. 12% p.a [Option ID = 32482]
2. 6% p.a [Option ID = 32483]
3. 10% p.a [Option ID = 32484]
4. 16% p.a [Option ID = 32485]
Correct Answer :-

• 6% p.a [Option ID = 32483]
Reserve capital can be called up [Question ID = 8123]
1. In an emergency only [Option ID = 32486]
2. Any time by passing an ordinary resolution [Option ID = 32487]
3. In the event and for the purpose of company being wound -up [Option ID = 32488]
4. If all directors agree [Option ID = 32489]
Correct Answer :-

• In the event and for the purpose of company being wound -up [Option ID = 32488]

--- Content provided by FirstRanker.com ---

Stock split is the process of [Question ID = 8124]
1. Consolidating the face value of the shares of the company [Option ID = 32490]
2. Reducing the capital of the company [Option ID = 32491]
3. Restructuring of capital of the company [Option ID = 32492]
4. Reducing face value of the shares of the company by dividing one shares into two or more parts [Option ID = 32493]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Reducing face value of the shares of the company by dividing one shares into two or more parts [Option ID = 32493]
Royalties revenue should be recognized [Question ID = 8125]
1. On an accrual basis in accordance with the terms of the relevant agreement [Option ID = 32494]
2. On a cash basis [Option ID = 32495]
3. On an actual basis [Option ID = 32496]
4. Revenue is recognized on the time proportion basis [Option ID = 32497]
Correct Answer :-

• On an accrual basis in accordance with the terms of the relevant agreement [Option ID = 32494]
AS-29 is Applicable only to [Question ID = 8126]
1. Provision for valuation adjustment for fixed Assets [Option ID = 32498]
2. Provision for Liabilities and charges [Option ID = 32499]
3. Provision for valuation adjustment for current assets [Option ID = 32500]
4. Furniture [Option ID = 32501]
Correct Answer :-

• Provision for Liabilities and charges [Option ID = 32499]
--- Content provided by FirstRanker.com ---
Interest paid by other than financial enterprise is shown in the cash flow statement under:- [Question ID = 8127]
1. Operating activities [Option ID = 32502]
2. Investing activities [Option ID = 32503]
3. Financing activities [Option ID = 32504]
4. Accumulated profit [Option ID = 32505]
Correct Answer :-

• Financing activities [Option ID = 32504]
Profit prior to incorporation is [Question ID = 8128]
1. Debited to Goodwill Account [Option ID = 32506]
2. Credited to General Reserve Account [Option ID = 32507]
3. Credited to capital reserve Account [Option ID = 32508]
4. Credited to Reserve [Option ID = 32509]
Correct Answer :-

• Credited to capital reserve Account [Option ID = 32508]

--- Content provided by FirstRanker.com ---

Which is the cost unit is applicable to the bicycle industry? [Question ID = 8129]
1. Per part of bicycle [Option ID = 32510]
2. Per bicycle [Option ID = 32511]
3. Per tonne [Option ID = 32512]
4. Per day [Option ID = 32513]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Per bicycle [Option ID = 32511]
Stores Ledger is a: [Question ID = 8130]
1. Quantitative as well as value wise records of material received, issued and balance; [Option ID = 32514]
2. Quantitative record of material received, issued and balance [Option ID = 32515]
3. Value wise records of material received, issued and balance [Option ID = 32516]
4. Record of labour attendance [Option ID = 32517]
Correct Answer :-

• Quantitative as well as value wise records of material received, issued and balance; [Option ID = 32514]
Galvanizing coating is applied to a product that is:- [Question ID = 8131]
1. Produced [Option ID = 32518]
2. Under production [Option ID = 32519]
3. Targeted to produce [Option ID = 32520]
4. Sold to customers [Option ID = 32521]
Correct Answer :-

• Under production [Option ID = 32519]
--- Content provided by FirstRanker.com ---
Calculate EOQ (approx.) from the following details:- Annual Consumption: 24000 units, Ordering cost: Rs. 10 per order, Purchase price: Rs. 100 per unit, Carrying cost: 5% [Question ID = 8132]
1. 310 [Option ID = 32522]
2. 400 [Option ID = 32523]
3. 290 [Option ID = 32524]
4. 300 [Option ID = 32525]
Correct Answer :-

• 310 [Option ID = 32522]
A worker is allowed 60 hours to complete the job but he completes in 50 hours. How much wages will he get under the Halsey Plan? [Question ID = 8133]
1. Rs. 720 [Option ID = 32526]
2. Rs. 540 [Option ID = 32527]
3. Rs. 600 [Option ID = 32528]
4. Rs. 660 [Option ID = 32529]
Correct Answer :-

• Rs. 660 [Option ID = 32529]

--- Content provided by FirstRanker.com ---

Which of the following is not a reason for an idle time variance? [Question ID = 8134]
1. Wage rate increase [Option ID = 32530]
2. Machine breakdown [Option ID = 32531]
3. Illness or injury to worker [Option ID = 32532]
4. Non- availability of material [Option ID = 32533]
Correct Answer :-
--- Content provided by FirstRanker.com ---

• Wage rate increase [Option ID = 32530]
A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as: [Question ID = 8135]
1. Master budget [Option ID = 32534]
2. Zero base budget [Option ID = 32535]
3. Functional budget [Option ID = 32536]
4. Flexible budget [Option ID = 32537]
Correct Answer :-

• Flexible budget [Option ID = 32537]
In a core process account is generally [Question ID = 8136]
1. Debited with the scrap value of the abnormal loss units [Option ID = 32538]
2. Debited with the full production cost of the abnormal loss units [Option ID = 32539]
3. Credited with the scrap value of the abnormal loss units [Option ID = 32540]
4. Credited with the full production cost of the abnormal loss units [Option ID = 32541]
Correct Answer :-
<
--- Content provided by FirstRanker.com ---
This download link is referred from the post: DUET Last 10 Years 2011-2021 Question Papers With Answer Key || Delhi University Entrance Test conducted by the NTA

This post was last modified on 27 December 2020

Get the MBBS Question Bank Android App

q

Share This Post:

Share This Post: