Q:

The account receivable turnover measures

A) How often, on average receivables are received and collected during the period	B) How long it takes to sell accounts receivable to a factor
C) The relation of cash sales to credit sales	D) How long it takes to sell merchandise inventory

Answer & Explanation Answer: A) How often, on average receivables are received and collected during the period

Explanation:

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Q:

Who is the only Indian economist to have won the Nobel prize?

A) Avinash Dixit	B) Amit Mishra
C) Amartya Sen	D) Abhijit Banerjee

Answer & Explanation Answer: C) Amartya Sen

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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 quest for a _____ life engrosses every human being on this earth. Everyman tends to define a happy life in a _____ individualistic fashion. _____have attempted to define a happy life in various terms. Hedonists have a _____ notion that happiness lies in the _____ of physical appetites.

on this earth. Everyman tends to define a happy life in a _____ individualistic fashion.

A) distinctly	B) identically
C) similar	D) serious

Answer & Explanation Answer: A) distinctly

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Q:

Which one of the following is not a component of Revenue Receipts of the Union Government?

A) Corporate tax receipts	B) Dividends and profits
C) Disinvestment receipts	D) Interest receipts

Answer & Explanation Answer: C) Disinvestment receipts

Explanation:

Revenue receipts are regular source of Government of India, but Disinvestment receipts are not regular source of Income of Government and all other given are regular

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Q:

In economic equilibrium _____

A) supply is equal to the demand.	B) the surplus is larger than the shortage.
C) elasticity of demand equals elasticity of supply	D) price elasticity of demand is unity

Answer & Explanation Answer: A) supply is equal to the demand.

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Q:

Reema wants to buy a certain designer party dress. The shop is offering a discount of 20% on that dress which is marked at Rs 5000. If Reema was willing to pay even Rs 7000 for that dress, Reema's consumer surplus is

A) Rs 3000	B) Rs 2000
C) Rs 1000	D) Rs 7000

Answer & Explanation Answer: A) Rs 3000

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Q:

If an unintended increase in business inventories occurs

A) aggregate expenditures must exceed the domestic output	B) we can expect businesses to lower the level of production
C) we can expect aggregate production to be unaffected	D) we can expect businesses to increase the level of production

Answer & Explanation Answer: B) we can expect businesses to lower the level of production

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Q:

The centre of the reflecting surface of a spherical mirror is called the

A) radius	B) centre of curvature
C) pole	D) focus

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