TN TRB PG Assistant Commerce Mock Test - 2 - TN TET MCQ

Human Relations Theory rejects formal institutionalisation and highlights the significance of human motivation and informal work groups.

• The theory emerged between the 1920s and 1950s.
• It suggests that employees do not solely respond to rules and economic incentives.
• Social needs, drives, and attitudes also play a crucial role in employee behaviour.
• The Hawthorne Studies were pivotal in demonstrating these concepts.
• This approach laid the groundwork for the development of behavioural sciences.

Taylor and Frank Gilbreth improved efficiency through motion study by:

• Identifying and eliminating unnecessary motions in tasks.
• Reducing the number of steps required to complete a job, which streamlined processes.
• Using tools like stopwatches to measure and analyse movements.
• Teaching workers to perform tasks more efficiently, such as reducing brick layering motions from 18 to just 5.
• Designing simple tools and equipment to aid in efficient task completion.

This approach significantly increased productivity and reduced the time taken to complete tasks.

Budgetary control technique of managerial control involves the preparation of budgets for each operation of the organisation and then comparing the realised results with the budgetary standards.  budget is a quantitative statement defining the objectives to be achieved in a specified time period and the policies to be followed.

Hundi is a significant financial instrument used in ancient Indian trade, primarily for the transfer of money. Here are the key features:

• Definition: Hundi refers to a document that facilitates the transfer of funds between parties.
• Types:
  • Payable to a specific person, ensuring liability over who receives the payment.
  • Payable to the bearer, with no liability regarding the recipient.
  • Drawn against dispatched goods, where the drawer bears the risk if goods are lost in transit.
• Purpose: It was created to mitigate risks associated with long-distance travel, such as theft.
• Language: Hundi documents were often written in the local vernacular, making them accessible.
• Impact: The use of Hundis promoted trade by providing a safe and efficient means of transferring money, thus enhancing commercial activities.

- Reservation of Right to Disposal refers to the seller's right to retain control over the goods until certain conditions are met, usually payment.
- Specific Goods are goods that are identified and agreed upon at the time a contract of sale is made.
- This reservation is available for specific goods because they are already identified, allowing the seller to control the transfer of ownership.
- In contrast, unascertained goods are not identified until later, making such reservation impractical initially.

• Single Transaction Guarantee: This type of guarantee ensures that a specific transaction will be completed successfully without any issues.


• General Guarantee: This type of guarantee covers a broad range of transactions and may not specifically focus on a single transaction.


• Continuous Guarantee: This type of guarantee ensures ongoing support or coverage for a series of transactions, rather than just a single transaction.


• Implied Guarantee: This type of guarantee is not explicitly stated but is understood to be part of a transaction based on common practices or industry standards.


• None of these: This option indicates that the guarantee in question does not fall under any of the categories mentioned above.

Therefore, in this case, the guarantee of a single transaction would fall under the category of a general guarantee.

The correct answer is (b) A transaction.
A transaction is an economic event that involves the transfer of money or goods between two parties. In this case, Sohan paid rent of Rs. 5,000. This can be classified as a transaction because:
1. Two parties are involved: Sohan (the payer) and the landlord (the receiver).
2. Transfer of value: Sohan is transferring Rs. 5,000 to the landlord in exchange for the use of the rented property.
3. Recordable: This transaction can be recorded in the financial books (e.g., rent expense account for Sohan and rent income account for the landlord).
An event, on the other hand, is a happening or occurrence that may or may not have financial consequences. In this case, the payment of rent is a transaction and not just an event because it involves a transfer of value between parties and can be recorded in financial books.

Assets – Liabilities = Capital employed
10,00,000 – 4,25,000 = 5,75,000