702. A service can be defined as “any activity or benefit that one party can offer another that is essentially intangible and that does not result in the ownership of anything.”

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A. TRUE
B. FALSE
Answer: Option A
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✅ The correct answer is option A.
A service can be defined as “any activity or benefit that one party can offer another that is essentially intangible and that does not result in the ownership of anything.” Services are usually intangible and time-based, and occur multiple times over the course of a relationship such as a house cleaning services, or a consulting services.

699. Which of the following would not be considered a barrier to entry?

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A. High innovation
B. Concentration of distribution channels
C. Steep experience curves
D. Concentration of suppliers
✅ The correct answer is option A.
High innovation would not be considered a barrier to entry. Innovation is about being creative and original in your work and thinking.

696. ___________ constitutes moderate consumer behavior, but still involves time and effort searching for and comparing alternatives.

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A. Limited decision making
B. Need recognition
C. Routine decision making
D. Post purchase evaluation
✅ The correct answer is option A.
Limited decision making constitutes moderate consumer behavior, but still involves time and effort searching for and comparing alternatives. Limited decision making is consumer decision making that is used when purchasing products that require a moderate amount of time and effort to compare models and brands before making a choice.

Formula of effective annual return is written as

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A. (1+r) c – 1
B. (2+r) c – 2
C. (3+r) c – 3
D. (1+r) c – 5
✅ The correct answer is option A.
Formula of effective annual return is written as (1+r) c – 1. Effective annual return (EAR) is the annual rate that captures the magnifying effect of multiple compounding periods per year of an investment.

The insurance policy that covers exporters against commercial and political risk is.

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A. General insurance
B. ECGC
C. Marine insurance
D. Fire insurance
✅ The correct answer is option D.
The insurance policy that covers exporters against commercial and political risk is Fire insurance. Under this policy, the insurer covers some of the buyers and in case of any event, pays an agreed percentage of an invoice.

690. Considering two fiscal years 2013 and 2014, if selling price in 2013 and 2014 is $55 and $60 per unit respectively and actual units sold in 2013 are 25000 units, then revenue effect of price recovery will be

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A. $14,500
B. $135,000
C. $125,000
D. $12,500
✅ The correct answer is option C.
Revenue effect of price recovery = ($60 – $55) × 25000
= $125,000.

51. The following technique(s) is based on the critical incident approach.

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A. Behaviorally anchored rating scales (BARS)
B. Critical incident technique
C. Both (A) and (B)
D. None of the above
✅ The correct answer is option C.
Behaviorally anchored rating scales (BARS) and Critical incident techniques are based on the critical incident approach.
BARS is designed to bring the benefits of both quantitative and qualitative data to employee appraisal process.
Critical incident technique is a method of gathering facts (incidents) from domain experts or less experienced users of the existing system to gain knowledge of how to improve the performance of the individuals involved.

50. The written statement of the findings of job analysis is called

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A. Job design
B. Job classification
C. Job description
D. Job evaluation
✅ The correct answer is option C.
The written statement of the findings of job analysis is called Job description. It includes information such as job title, job location, reporting to and of employees, job summary, nature and objectives of a job, tasks and duties to be performed, working conditions, machines, tools and equipments to be used by a prospective worker and hazards involved in it.

Position which came in to existence because of holding assets less than liabilities is considered as

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A. net surplus in assets
B. net surplus in liabilities
C. net long in currency
D. net short in currency
✅ The correct answer is option D.
Position which came in to existence because of holding assets less than liabilities is considered as net short in currency. An investor who is net short has more short positions than long positions in a given asset, industry, market, or portfolio.

Price of underlying asset is added into intrinsic value of option to calculate

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A. forward price of option
B. exercise price of option
C. book value of option
D. spot price of option
✅ The correct answer is option B.
Price of underlying asset is added into intrinsic value of option to calculate exercise price of option. The strike price (or exercise price) of an option is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put), the underlying security or commodity.