A

24705 120 MINUTES

1. Match the following:
List I List II
a. Programmes 1. Specific required actions or non actions, allowing no discretion
b. Policies 2. Set of clear instructions in logical sequence to perform a task
c. Rules 3. Statement of expected results expressed numerically
d. Budgets 4. General statements that guide clear thinking for
decision making

A) a -4, b-3, c-2, d-1 B) a -2, b-4, c-1,d-3

C) a -3, b-2, c-4, d-1 D) a-3, b-4, c-1, d-2

2. Identify the true statement/s:

Statement 1: Matrix organisation combines the functional and product patterns of
departmentation in the same organisational structure
Statement 2: Strategic Business Unit (SBU) is a modern type of departmentation
in organisational structure

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

3. Splintered Authority exists when:

A) The operations and responsibilities for successful performance of a job
B) The works to be performed and the responsibilities and duties involved,
conditions under which the work is performed.
C) The personality requirements and lists qualifications both physical and
mental, necessary to perform the job properly.
D) Pooling the authority delegations of two or more managers to resolve a
problem

4. The Immaturity-maturity continuum in Personality Development is developed by:

A) Sigmund Freud B) Henry Fayol
C) Chris Argyris D) Chester Bernard

5. Which of the following statement is true with respect to “Looking Glass Self” in Self
Theory?
A) The way one see oneself
B) The way one would like to be
C) The perception of a person about how others are perceiving his qualities
D) The real self

6. Leadership Continuum Concept was developed by:

A) Blake and Mouton B) McGregor
C) Peter F Drucker D) Tannenbaum and Schimdit
7. Identify the true statement/s:
Statement 1 : Fish Bowling is a group decision making technique
Statement 2 : Didactic Interaction is not a group decision making technique
A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

8. Match the following:

List I List II
a. Micheal E. Porter 1. The Visible Hand
b. Alfred D. Chandler Jr. 2. The Core Competence of the Corporation
c. Peter F. Drucker 3. Management by Objectives
d. C. K. Prahalad 4. Five Forces Model
A) a-4, b-1, c-3, d-2 B) a-1, b-3, c-4, d-2
C) a-2, b-3, c-1, d-4 D) a-3, b-1, c-2, d-4

9. The activities in the Value chain concerned with procedure for converting raw
materials into finished products is known as:
A) Marketing and Sales B) Outbound Logistics
C) Inbound Logistics D) Operations

10. The strategic management approach which focus on development of strategies based
on SWOT analysis and Top Down Planning:
A) Descriptive Approach B) Prescriptive Approach
C) Team Approach D) None of the above

11. Match the following:

List I List II
a. Kaplan and Norton 1. Ansof Matrix
b. Blake and Mouton 2. Balanced Score Card
c. McKinsey 3. Managerrial Grid
d. Igor Ansof 4. 7S Model
A) a-4, b-3, c-2, d-1 B) a-2, b-3, c-4, d-1
C) a-4, b-2, c-1, d-3 D) a-1, b-2, c-3, d-4

12. Author of “Blue Ocean Strategy” :

A) Michael Porter
B) W. Chan Kim and Renee Mauborgne
C) A.A. Thompson and A.J. Strick
D) Amartya Sen

13. Flexible plans that are periodically reviewed and revised on an annual basis to adapt
changing economic priorities:
A) Planning by Inducement B) Planning by Direction
C) Rolling Plans D) Fixed Plans

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14. Identify the true statement/s:
Statement 1: Trickle Down Strategy in Economic theory implies that Economic
Development and Economic growth are synonymous
Statement 2 : Economic Development can be measured both quantitatively and
qualitatively

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

15. Match the following:

List I List II
a. Micro Environment 1. Cultural Trends
b. Social Environment 2. GNP
c. Legal Environment 3. Market Intermediaries
d. Economic Environment 4. Foreign Exchange Management Act

A) a-4, b-1, c-3, d-2 B) a-3, b-1, c-4, d-2

C) a-1, b-2, c-3, d-4 D) a-4, b-2, c-3, d-1

16. Integration of market implies:

A) Wider Choice of goods B) Operating beyond the domestic markets
C) Competitive Price D) All of these

17. “The principle of mutual benefits and concessions in trade negotiations” explains the
WTO principle of:
A) Transparency B) MFN treatment
C) Reciprocity D) Dismantling Trade Barriers

18. The highest decision making body in WTO:

A) Director General B) Ministerial Conference
C) General Council D) Secretariat

19. The first Special Economic Zone (SEZ) in India:

A) Visakhapatnam ( AP) B) Kandla (Gujrat)
C) Chennai (TN) D) Cochin (Kerala)

20. Which of the following statements CLEARLY states Heuristic Knowledge?

A) Strategies derived from previous experience with similar problems
B) Knowledge that is conceptualised, codified, formalised, stored and accessed
C) Understanding, interpretation and application of information
D) None of these

21. Which among the following is the invention of Edgar F. Codd?

A) Bearing System for Truck Axles
B) Relational Database Management System
C) Integrated Data Store
D) All of these

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22. The concept which assumes that a business has its own identity distinct from its
owners is ----concept.
A) Dual Aspect B) Matching
C) Accrual D) Separate Entity

23. If gross profit is 20% of sales and cost of goods sold is Rs.80000/-, find Sales:
A) 96000 B) 100000 C) 80000 D) 86000

24. The opening capital is Rs.50000, drawings Rs.5000, capital introduced during the year
Rs.10000, closing capital Rs.80000. The value of profit earned during the year is:
A) Rs.15000 B) Rs.20000 C) Rs.25000 D) Rs.35000

25. In accounting from incomplete records, Opening Capital is computed using:

A) Total Debtors Account B) Opening Statement of Affairs
C) Total Creditors Account D) Cash account

26. If the total of debit side of Receipts and Payments account exceeds the total credit
side, it represents:
A) Cash at Bank B) Bank Overdraft
C) Surplus D) Deficit

27. Subscription Received in advance during the current year is:

A) An Asset B) An Income C) A Liability D) A profit

28. Property/ Asset received based on the will of a diseased person is:
A) Donation B) Honorarium C) Legacy D) Trust

29. The Accounting Standard applicable for amalgamation is:

A) AS 14 B) AS 2 C) AS 3 D) AS 11

30. While calculating purchase consideration assets are valued at:

A) Book Price B) Market Price
C) Revalued Price D) None of these

31. Identify the true statement/s:

Statement 1: Accounting Standards ensure that the financial statements of
different companies can be compared.
Statement 2: Accounting Standards and Accounting Conventions are one and the
same thing

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

32. The research that tries to familiarise with a phenomenon and getting new insights into
it is known as---- Research.
A) Exploratory B) Diagnostic
C) Hypothesis Testing D) Descriptive

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33. Identify the correct sequence in Research Process:
A) Define Research Problem- Formulate Hypothesis- Design Research- Collect
Data- Analyse Data- Interpret and Report
B) Define Research Problem- Collect Data- Design Research- Formulate
Hypothesis- Analyse data – Interpretation and Reporting
C) Define Research Problem- Analyse the data- Formulate Hypothesis- Collect
Data- Design Research- Interpretation and Reporting
D) Formulate Hypothesis- Design Research- Define Research Problem- Collect
Date- Analyse Data- Interpretation and Reporting

34. Match the following:

List I List II
a. AS 2 1. Leases
b. AS 3 2. Revenue Recognition
c. AS 9 3. Valuation of Inventories
d. AS 19 4. Cash flow statement

A) a-2, b-1, c-3, d-4 B) a-3, b-4, c-2, d-1

C) a-1, b-2, c-4, d-3 D) a-1, b-4, c-2, d-3

35. A Descriptive Research Design must be:

A) Reliable B) Rigid and well structured
C) Flexible D) Both A & C

36. Principle of randomness in experimental design implies:

A) That the experiment should be repeated again and again to test its
effectiveness
B) The units and treatments are randomly assigned to control extraneous variables
C) Measuring and eliminating the effect of extraneous variables
D) None of these

37. Which among the following is the “standard deviation of the sampling distribution of
a statistic”?
A) Non-sampling Error B) Sampling Error
C) Standard Error D) Probable Error

38. The relationship between Standard Error and Test Statistic is:
A) No relationship B) Positive Relationship
C) Inverse Relationship D) None of these

39. Among the following alternate hypotheses, which one explains a Two-tailed Test?
A) Ha : µ> µ0 B) Ha : µ< µ0 C) Ha: µ = µ0 D) Ha : µ ≠ µ0

40. In hypothesis testing “α” describes:

A) Significance Level B) Power of a Test
C) Type II Error D) Type I Error

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41. Who among the following is much associated with Probability Distributions?
A) George B. Dantzig B) L. Hurwicz
C) W.W. Cooper D) J. Bernouli

42. Identify the true statement/s:

Statement 1 : Operations Research is based on Mathematical Modelling
Statement 2 : Operations Research helps in business decision making

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

43. Match the following Parametric tests with its corresponding Non-Parametric
alternatives:
List I List II
a. One Sample t test 1. Kruskall-Wallis Test
b. Independent Sample t test 2. Mann-Whitney U test
c. Paired t test 3. Wilcoxon test
d. One way ANOVA 4. Binomial test

A) a-4, b-2, c-3, d-1 B) a-1, b-2, c-3, d-4

C) a-2, b-4, c-3, d-1 D) a-3, b-4, c-2, d-1

44. Hungarian Method is associated with:

A) Transportation Model B) Simplex Model
C) Assignment Model D) Game Theory

45. George B Dantzig is associated with:

A) Network Analysis B) Replacement Model
C) Simplex Algorithm D) Queuing Model

46. CPM is a:
A) Deterministic Model B) Probabilistic Model
C) Both A &B D) Neither A nor B

47. In corporate form of organisation, managers enjoy substantial autonomy and hence have
a natural inclination to pursue their own goals. This situation creates:
A) Hostile Takeover B) Goal Conflict
C) Agency Problem D) None of these

48. Nominal interest rate adjusted for the inflation factor is known as:
A) Coupon Rate B) Real Interest Rate
C) Future Rate D) Profit Rate

49. Cash Ratio is a:

A) Profitability Ratio B) Leverage Ratio
C) Liquidity Ratio D) Turnover Ratio

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50. Watered Capital means:
A) Excess Capital B) Part of the capital not represented by assets
C) Over Capitalisation D) Under Capitalisation

51. After tax operating profit of an investment less the cost of funds used to finance
investment =
A) Cost of Capital B) Economic Value Added (EVA)
C) Capitalisation rate D) Operating Profit before tax

52. Selecting and overseeing a group of investments that meet the long-term financial
objectives of a client, a company or an institution is popularly known as
A) Portfolio Management B) Capital Rationing
C) Trading on Equity D) None of these

53. Which of the following is an example for Cash flow from Financing Activity?
A) Purchase of Fixed Assets B) Cash received from Customers
C) Payment of Dividends D) Dividends received on investment

54. The cause of NPV-IRR conflict is attributed to:

A) Nature of Cash flows B) Nature of Project
C) Size of the projects D) All of the Above

55. Percentage Change in EBIT divided by Percentage Change in Sales is a measure of:
A) Degree of Financial Leverage
B) Financial Leverage
C) Degree of Operating Leverage
D) Both B & C

56. Identify the true statement/s:

Statement 1 : Working Capital Leverage refers to the sensitivity of ROI to the
changes in the level of Current Assets
Statement 2 : Working Capital Leverage is equal to Percentage Change in ROI to
Percentage Change in Current Assets

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

57. The Net Income Approach to Capital Structure theory was propounded by:
A) M.Gordon B) J.E. Walter
C) D. Durand D) Modigliani Miller

58. “A Bird in hand is better than two in the bush” is the proverb used for supporting
which dividend model?
A) MM Model B) Gordon’s Model
C) Walter’s Model D) Keynes Model

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59. The risk attributable to economy-wide factors is:
A) Financial Risk B) Business Risk
C) Systematic Risk D) Non Profit Risk

60. Identify the true statement/s:

Statement 1 : Overall Cost of Capital and Weighted Average Cost of Capital are
one and the same
Statement 2 : Cost of Retained Earnings is zero

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

61. “Creating a unique image or perception of a brand product or service in the customers
mind” is known as:
A) Target Marketing B) Market Segmentation
C) Market Positioning D) Unit Marketing

62. Assertion (A): The basic objective of Cost Accounting is to ascertain the cost of a
Cost Centre
Reason (R) : The main objective of Cost Centre is to reduce and control the Cost
of the centre.
A) Both A and R are True and R is the correct explanation of A
B) Both A and R are True but R is not the correct explanation of A
C) A is true but R is false
D) Both A and R are false

63. Assigning Costs to activities rather than product or services is known as:
A) Process Costing B) Unit Costing
C) Activity Based Costing D) Target Costing

64. Total of all direct costs is termed as:

A) Works Cost B) Cost of Production
C) Prime Cost D) Cost of Sales

65. Which among the following industries does not use Process Costing?
A) Oil Refinery B) Textile Manufacturing
C) Aircraft Manufacturing D) Sugar Mills

66. Thread in garments is an example for:

A) Indirect materials B) Direct materials
C) Direct Expenses D) Direct Profit

67. Which of the following item of expenditure is excluded in Cost Accounting?

A) Replacement Cost
B) Direct Labour
C) Underwriting Commission
D) Research and Development Costs

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68. Match suitable costing methods for the following industries:
List I List II
a. Road Construction 1. Batch Costing
b. Transport Companies 2. Process Costing
c. Sugar Mills 3. Contract Costing
d. Toy-making 4. Operating Costing

A) a-3, b-4, c-2, d-1 B) a-4, b-2, c-3, d-1

C) a-1, b-2, c-3, d-4 D) a-2, b-4, c-3, d-1

69. Identify the true statement/s:

Statement 1 : Methods and Techniques of Costing are one and the same
Statement 2 : Variable Cost per unit remains fixed

A) 1 only B) 2 only C) Both 1 & 2 D) Neither 1 nor 2

70. An equal amount of increase in total current assets and total current liabilities will:
A) Increase the Current Ratio
B) Decrease the Current Ratio
C) No Change in Current Ratio
D) None of these

71. Fund Flow Statement is prepared on the basis of :

A) Balance Sheets of Previous and Current Years
B) Profit and Loss Account of Current Year
C) Both A and B
D) Neither A nor B

72. The ratio of Contribution to sales is known as ---- Ratio.

A) Sales B) Profit C) Break Even D) Profit Volume

73. Selling Price per unit Rs. 20/- ; Variable Cost per unit Rs. 12/- ; Fixed Cost Rs.8000.
Calculate BEP in units:
A) 2000 B) 6000 C) 1000 D) 3000

74. Dividend receipts from Investment in marketable securities is taken in which head of
Cash flow statement:
A) Cash flow from Operating Activities
B) Cash flow from Investing Activities
C) Cash flow from Financing Activities
D) Both A & C

75. The proportion of a Company’s Share Price to Earnings Per Share is known as:
A) Gross Profit Ratio B) PE Ratio
C) Earnings per Share D) None of these

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76. Three -time estimates are the features of:
A) CPM B) PERT
C) Linear Programming D) Quality Control Techniques.

77. Cost drivers are the features of ---- costing.

A) Absorption B) ABC C) Marginal D) Standard

78. IFRS 2 deals with:

A) Segment Reporting B) Share-based payment
C) Leases D) Intangible Assets

79. Match the following:

List I List II
a. IAS 21 1. Earnings per Share
b. IAS 23 2. Related Party Disclosures
c. IAS 24 3. The effect of Changes in Foreign Exchange rates
d. IAS 33 4. Borrowing Costs

A) a-2, b-3, c-1, d-4 B) a-3, b-4, c-2, d-1

C) a-3, b-4, c-1, d-2 D) a-4, b-3, c-1, d-2

80. Profit is estimated to be 10% of the total sales value. Here total cost is 81,000.
Find out the value of total sales.
A) 85,000 B) 89,800 C) 89,100 D) 90,000

81. The Insolvency and Bankruptcy Code related with the Winding up of the companies
was passed in:
A) 2015 B) 2013 C) 2016 D) 2019

82. Trading on Equity is also known as:

A) Financial Leverage B) Operating Leverage
C) Dividend Model D) Matrix Model

83. ------- is the successor to the GATT.

A) WTO B) IDBI C) IMF D) World Bank

84. Identify the true statements:

1. Value Engineering is not aimed at Cost Reduction
2. The Capital Asset Pricing Model Approach was developed by William F. Sharpe.
3. Cost of Capital can be used to evaluate the financial performance of top
management
4. Economic value added is not a financial performance measure.

A) 1& 2 only B) 2& 3 only

C) 1 & 3 only D) 1, 2, 3 & 4

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85. The Andean pact is a regional integration agreement related to:
A) Europe B) Latin American and Caribbean
C) South Asia D) Middle East and Asia

86. Match the following:

List I List II
a. Single Entry Book Keeping. 1. Sec 63 of Companies Act 2013
b. Redemption of Preference Shares 2. Sec 68 of Companies Act 2013
c. Buy-Back of Shares 3 Sec 55 of Companies Act 2013
d. Bonus Shares 4. Not based on Double Entry Principles

A) a-3, b-4, c-1, d-2 B) a-2,b-4,c-3,d-1

C) a-3,b-2, c-4, d-1 D) a-4, b-3, c-2,d-1

87. Identify the true statements:

1. The starting point of an activity is called a tail event
2. Merge event is an event which represents the joint completion of more than one
activity.
3. Burst event is an event which represents the joint starting of more than one activity

A) 1&3 only B) 1&2 only C) 2&3 only D) 1 ,2 & 3

88. Historical costs that cannot be recovered by any decision made now or in the future
are called:
A) Marginal Cost B) Opportunity Cost
C) Sunk Costs D) Direct Material Cost

89. When a firm produces only one product or product line to promote it to all customers
with a single marketing mix, it is called:
A) Differentiated marketing B) Undifferentiated marketing
C) Branding D) Product Development

90. ------are instruments issued by Indian companies in the foreign markets for mobilizing
foreign capital by facilitating portfolio investment by foreigners in Indian securities.

A) GDRs, ADRs and FCCBs B) Bonds and Shares

C) Debentures D) RBI Bonds

91. ---- is the Apex Institution in the case of Indirect Taxes in India.
A) CBDT B) RBI C) MCA D) CBEC

92. One card is drawn from a pack of 52.What is the probability that it is either a king or a
Queen?
A) 2/13 B) 1/13 C) 4/13 D) 5/13

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93. When the actual production is more than the normal output, the difference is called:
A) Abnormal Loss B) Abnormal Gain
C) Normal Loss D) Normal profit

94. Identify the correct sequence:

1. Balance Sheet 2. Ledger Accounts
3. Trial Balance 4. Trading and Profit and Loss Account

A) 2,3,1,4 B) 2,3,4,1 C) 1,3,2,4 D) 3,2,1,4

95. The term Green washing is related with:

A) Marketing B) Accounting C) Taxation D) Management

96. The Full form of ESG reporting is:

A) Ensure, Security and Guarantee reporting
B) Environmental, Social and Governance Reporting
C) Eliminate, Social and Government Reporting
D) Ecosystem, Society and Government Reporting

97. From a bag containing 30 black and 48 white balls, a ball is drawn at random, what is
the probability that it is white?
A) 30/78 B) 78/78 C) 48/78 D) 78/128

98. Which following act is related to KYC (Know Your Customer)?

A) CGST Act 2017
B) The Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002.
C) The Prevention of Money Laundering Act, 2002.
D) Companies Act 2013

99. Match the following :

List I List II
a. Ethnocentrism 1. Global Orientation
b. Polycentrism 2. Regional Orientation.
c. Regiocentrism 3. Host Country Orientation
d. Geocentrism 4. Home Country Orientation

A) a-2, b-3, c-4, d-1 B) a-2, b-4, c-1, d-3

C) a-3, b-2,c-4,d-1 D) a-4, b-3, c-2, d-1

100. Prepaid expenses is an example of:

A) Liability B) Asset C) Capital D) None of these

101. Snowball Sampling is an example of ----- Sampling.

A) Probability B) Mixed
C) Non-Probability D) Data Coding

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102. B Ltd issued 700,000 shares of Rs 10 each. The balance in the securities premium
reserve accountand general reserve account were Rs 3000,000 and 6000,000
respectively. The company bought back 100,000 shares for Rs. 40 each. Amount
Transferred to Capital Redemption Account is:
A) 300,000 B) 700,000 C) 10,00,000 D) 450,000

103. Match the following Cost Pool with Cost Driver:

List I List II
a. Material Handling 1. Maintenance Hours
b. Set-Up 2. No. of set ups
c. Maintenance 3. No. of Inspections
d. Quality Control 4. No. of movements

A) a-4,b-2,c-1,d-3 B) a-2,b-4,c-1,d-3
C) a-3,b-2,c-1,d-4 D) a-4,b-3,c-2,d-1

104. TQM stands for:

A) Technical Quantitative Management
B) Total Quality Management
C) Theory of Queuing Management
D) Technical Quality Maintenance

105. Purchase of building is an example of :

A) Source of funds B) Application of funds
C) Operating Activity D) Expenses

106. According to the ------Approach, the market value of the firm depends upon the net
operating profit and the overall cost of capital.
A) Net Operating Income Theory
B) Modigliani Miller Theory
C) SS Theory
D) Net Income Theory

107. Match the following (Under normal Conditions):

List I List II
a. Asset Account 1. Salaries
b. Liability Account 2. Discount Received
c. Expenses Account 3. Creditors
d. Income Account 4. Land

A) a-4,b-2,c-1d-3 B) a-2,b-3,c-1,d-4
C) a-4,b-3,c-1,d-2 D) a-4,b-3,c-2,d-1

108. Bureaucratic model was proposed by:

A) Max Weber B) Henri Fayol C) Maslow D) McGregor

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109. K Ltd issued Rs 200,000, 7% debentures at par. The tax rate applicable to the
company is 30% . Compute the cost of debt capital.
A) 5.9% B) 6.8% C) 4.9% D) 8.5%

110. Match the following:

List I List II
a. Errors of omission 1. Wrong amount was posted in one account is
compensated by the wrong posting of the same amount
in another account.
b. Errors of Commission 2. Accounting principles are not applied.
c. Errors of Principle 3. The Wrong amount has been recorded either in the
journal or in Subsidiary Books.
d. Compensating Errors 4. A Transaction is fully skipped.

A) a-4,b-2,c-1d-3 B) a-2,b-3,c-4,d-1
C) a-3,b-2,c-4,d-1 D) a-4,b-3,c-2,d-1

111. As per which following act, abuse of dominant position by an entity is prohibited?
A) The Competition Act, 2002
B) GST Act 2017
C) Consumer Protection Act 2019
D) Companies Act 2017

112. ‘Cybernetics’ was coined by:

A) Weiner B) Terry C) Haimann D) None of these

113. ----- is the size of the order for which the total cost of material is minimum.
A) ABC costs B) VED Costs C) EOQ D) Sunk Costs

114. Match the following:

List I List II
a. Idle time 1. Works beyond regular working hours
b. Overtime 2. Production causes and Economic causes
c. Piece rate 3.Production below standard: Guaranteed time rate
d. Gantt Task Bonus Plan 4. Rate per hour/ Production per hour

A) a-2,b-1,c-4,d-3 B) a-2,b-3,c-4,d-1
C) a-4,b-1,c-2,d-3 D) a-4,b-3,c-2,d-1

115. ------refers to delegation of authority to lower levels of management and all

departments of the organization.
A) Decentralization B) Centralization
C) Responsibility D) Planning

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116. The Right to Information Act of ------- was a milestone in the history of India.
A) 2006 B) 2007 C) 2004 D) 2005

117. A company will stay in business during and beyond the next fiscal period. Related
Concept is:
A) Consistency B) Going Concern Concept
C) Materiality D) Money measurement Concept

118. Herzberg’s Motivation Theory Model explains that there are two factors that
influences motivation of employees, called------- factors and------- factors.
A) Move, Hygiene B) Motional, Hygiene
C) Motivational, Hygiene D) Motivational, High

119. ------- advises Central Government in formulating policy and exercising specified
powers under the Foreign Trade (Development and Regulation) Act, 1992.
A) The Director General of Foreign Trade (DGFT)
B) Chief Income Tax Commissioner
C) Chief GST Commissioner
D) Chief Sales Tax Commissioner

120. Section ----- Company is a type of corporation established to promote non-profit

activities.
A) 10 B) 8 C) 9 D) 12

_______________________

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