Question37::Which of the following is NOT an assumption of Law of Diminishing Marginal Utility?
‘Ac Heterogeneous Goods
B:-Continuity in Consumption
C-Taste and Preferences are remain constant
D:-Prices of related goods are constant
Correct Answer:- Option-é
Question38:-The responsiveness of quantity demanded of a commodity to changes in the price of related goods is called as
AcPrice Elasticity
B:-Cross Elasticity
വാനം Elasticity
D-Advertisement Elasticity
Correct Answer:- Option ®
‘Question39::Which one NOT a property of indifference curve?
‘AcSlopes downward from left to right
B:-Convex to the origin
C-Higher indifference curve indicates higher level of satisfaction
D-indifference curves intersects each other
Correct Answer:- Option-D
Question40::Which is NOT a characteristics of Recessionary Stage of Business Cycle?
‘AcIncreasing Demand
B:-Increasing Unemployment
C:Decline in Consumer Spending
D=Excess Supply in the Market
Correct Answer:- Option-é
Question4i:-Salary, bonus, interest, commission or remuneration due to or received by a partner from a firm is taxable under the head
‘AcIncome from other sources
B:-Income from salaries
Profits and gains of business or profession
D-None of the above
Correct Answer:- Option-C
Question42:-Consider the following statements:
‘2. Employer's contribution in employee's recognised provident fund is tax free up to 12.5%.
b. Interest credited in recognised provident fund is exempt up to 9.5%.
Which of the given statements is/are true?
‘AcStatement a is correct
B:-Statement b is correct
CeBoth are correct
D-Both are incorrect
Correct Answer:- Option ®
Question43:-Percentage of income from the sale of coffee grown and cured in India is considered as business income is
25%
B:-75%
6
0:40%

Correct Answer: Option:

Question44:-Mr. A incurred long-term capital loss of Rs. 25,000 such loss.
‘A: Can be set-off against both long-term capital gains and short-term capital gains
B:-Can be set-off against any head of income
C-Not allowed to be set-off against any head of income
D:-Can be set-off against Long-term capital gains only

Correct Answer: Option-D