Question : Statement 1: The marketing concept focuses on creating and delivering superior customer value.

Statement 2: Production concept solely relies on aggressive advertising to drive sales.

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is incorrect.

Question : Case Study 6:

IJK Retail is a chain of retail stores. The company aims to maintain consistent customer service standards across all its outlets.

Question:

What would be the first step for IJK Retail in the process of controlling?

Option 1: Setting customer service standards.

Option 2: Measuring customer satisfaction.

Option 3: Comparing sales data with targets.

Option 4: Taking corrective action.

Question : Statement 1: Selling concept aims to increase short-term sales by aggressive promotional strategies.

Statement 2: Marketing concept disregards customer preferences and solely focuses on sales.

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is incorrect.

Question : Statement 1: Selling concept focuses on building long-term customer loyalty through value creation.

Statement 2: Marketing concept solely relies on aggressive advertising for sales.

Option 1: Both statements are correct.

Option 2: Statement 1 is correct, and statement 2 is false.

Option 3: Both statements are incorrect.

Option 4: Statement 2 is correct, and statement 1 is incorrect.

Question : Revenue from Operations (Sales) Rs. 16,00,000; Average Inventory Rs.2,20,000; Gross Loss Ratio 5%. Inventory turnover ratio will be 

Option 1: 7.63 times 

Option 2: 7 times 

Option 3: 7.4

Option 4: None of the above

Question : Assertion: Sales promotion techniques aim to create brand loyalty and long-term customer relationships.

Reason: Sales promotion techniques focus solely on short-term sales boosts and discounts.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.

Question : Sharma, Verma and Goyal are partners in a firm. On 1st April 2012 the balances in their Capital Accounts were as follows:
Sharma Rs. 4,00,000; Verma Rs. 4,20,000 and Goyal Rs. 3,70,000. The firm closes its accounts every year on 31st March. Verma died on 30th September 2012. In the event of the death of any partner following are the provisions in the Partnership Deed:
(i) Interest on Capital will be calculated at the rate of 10% p.a.
(ii) The deceased partner; 's legal representative will be paid Rs. 35,000 for his share of goodwill.
(iii) The firm had a Reserve Fund of Rs. 2,10,000. The deceased partner will be paid his share in the Reserve Fund.
(iv) His share of profit till the date of death will be calculated based on sales. It is also specified that the sales during the year 2011-12 were Rs. 15,00,000. The sales from 1st April 2012 to 30th September 2012 were Rs. 3,00,000. The profit of the firm for the year ending 31st March 2012 was Rs. 3,00,000.
Question:
Amount Due to the deceased's partner's capital account will be ......

Option 1: Rs 3,66,000

Option 2: Rs 6,06,000

Option 3: Rs 5,66,000

Option 4: None of the above

Question : L, M and R were partners sharing profits in the ratio of 2 : 2 : 1. The firm closes its books on March 31 every year. On June 30, 2017, R died. The following information is provided on R’s  death:

(i) Balance in his capital account in the beginning of the year was Rs.6,50,000.
(ii) He withdrew Rs.60,000 on May 15, 2017 for his personal use.
On the date of death of a partner the partnership deed provided for the following:
(a) Interest on capital @ 10 % per annum.
(b) Interest on drawings @ 12 % per annum.
(c) His share in the profit of the firm till the date of death, to be calculated on the basis of the rate of Net Profit on Sales of the previous year, which was 25 %. The Sales of the firm till June 30, 2017 were Rs.6,00,000.

Amount due to R’s Executor’s is

Option 1: Rs.93,530
 

Option 2: Rs.93,500

Option 3: Rs.90,000

Option 4: Rs.90,535

Question : Two months prior to the festivals of Diwali, Trending House, a major retail establishment, offered a stock clearing. Newspapers, television, and radio are being used for promotion. Determine the marketing strategy being employed.

Option 1: Public Relations

Option 2: Personal Selling

Option 3: Advertising

Option 4: Sales Promotion

Question : Assertion: Sales promotion techniques aim to create brand loyalty and long-term customer relationships.

Reason: Sales promotion techniques focus solely on short-term sales boosts and discounts.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.