1. The following questions relate to a game to be played by you and your friend. The game consists of a 4 x 4 board (see below) where each cell contains a positive integer. You and your friend make moves alternately. A move by any of the players consists of splitting the current board configuration into two equal halves and retaining one of them. In your moves you are allowed to split the board only vertically and to decide to retain either the left or the right half. Your friend, in his/her moves, can split the board only horizontally and can retain either the lower or the upper half. After two moves by each player a single cell will remain which can no longer be split and the number in that cell will be treated as the gain (in rupees) of the person who has started the game. A sample game is shown below. So your gain is Re.1. With the same initial board configuration as above and assuming that you have to make the first move, answer the following questions.   Initial Board                          After your move (retain left) After your friends move (retain upper) After your move (retain right) After your friends move (retain lower) If you choose (retain right) (retain left) in your turns, the best move sequence for your friend to reduce your gain to a minimum will be
 





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  • By: anil on 05 May 2019 02.34 am
    After my first move of retaining right board will be like Now second person will force me to retain with the lowest value possible i.e. 2 or 3
    So if he retains lower half and i retain with left one (as mentioned) then he can only force me to pick 3.
    Or if he retains upper half and i retain with left one(as mentioned) then he can retain upper half so i will be having minimized profit of 2.
    Hence second person will have moves as "Retain (upper half) and retain (upper half)"

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MCQ-> The following questions relate to a game to be played by you and your friend. The game consists of a 4 x 4 board (see below) where each cell contains a positive integer. You and your friend make moves alternately. A move by any of the players consists of splitting the current board configuration into two equal halves and retaining one of them. In your moves you are allowed to split the board only vertically and to decide to retain either the left or the right half. Your friend, in his/her moves, can split the board only horizontally and can retain either the lower or the upper half. After two moves by each player a single cell will remain which can no longer be split and the number in that cell will be treated as the gain (in rupees) of the person who has started the game. A sample game is shown below. So your gain is Re.1. With the same initial board configuration as above and assuming that you have to make the first move, answer the following questions.   Initial Board                          After your move (retain left) After your friends move (retain upper) After your move (retain right) After your friends move (retain lower) If you choose (retain right) (retain left) in your turns, the best move sequence for your friend to reduce your gain to a minimum will be
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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions. Once upon a time there was a King of Benaras who was very rich. He had many servants and a beautiful palace with wonderful gardens; he had chariots and a stable full of horses. But his most prized possession was a magnificent elephant called Mahaghiri. She was as tall as two men, and her skin was of the colour of thunder clouds. She had large flapping ears and small, bright eyes and she was very clever. Mahaghiri lived in her own special elephant house and had her own keeper, Rajinder. The King would often visit Mahaghiri to take her some special tit-bit to eat and check that Rajinder was looking after her properly. But Rajinder needed no reminding, for he also loved the elephant dearly, and trusted her completely. Every morning, he would take her down to the river for her bath. Then he would bring her freshly cut grass, leaves and the finest fruits he could find in the market for her breakfast. During the day, he would talk to her and, in the evening, he would play his flute to send her to sleep. One morning, Rajinder arrived as usual with fruit for Mahaghiri’s breakfast. Suddenly, before he knew what was happening, she picked him up with her trunk and threw him out of the stall, breaking his arm. She began to stamp on the ground and trumpet so loudly that it took several strong men all morning to bind her with ropes and chains, When the king heard about what had happened, he was very upset and sent for the doctor to help Rajinder. Then he called for his chief minister. “You must go and see Mahaghiri at once,” he said. “She used to be so kind and gentle, but this morning she threw her keeper out of her stall. I can’t understand it. She must be ill or in pain. Spare no expense in finding a cure.” So the chief minister went to see Mahaghiri. who was still bound firmly with ropes. First he looked at her eyes – they were as clear and bright as usual. Then he felt behind her ears – her temperature was normal. Next he listened to her heart that was fine too – and checked all over for cuts or sores. He could find nothing wrong with her. “Strange,” he thought. “I can find no explanation for her bad behaviour.”But then his eye was caught by something gleaming in the straw. It was a sharp, curved knife, like the ones used by robbers. Could there be a connection? That night, when everyone else had gone to bed, the chief minister returned to the elephant house. There, in the stall next to Mahaghiri’s, sat a band of robbers. “Tonight we’ll burgle the palace,” said the chief. “First, we’ll make a hole in the wall, then we’ll steal the treasure. “But what about the guards?” someone asked. “Don’t tell me you’re still afraid to kill! When will you learn to be a real robber?” From the shadows, the minister could see the elephant, her ears pinned back, listening to every hateful and violent word.”Just as I suspected,” thought the minister. Then he slipped out, bolted the door on the outside so the robbers could not escape, and went immediately to the king.”Your majesty,” he said, “I think I have found the cause of your elephant’s bad behaviour.” As soon as the king heard what the minister had to say, he sent for his guards and had the robbers arrested. “But what about the elephant? How can she be cured?’ he asked. “Well, your majesty, if Mahaghiri became dangerous through being.in the company of those wicked robbers, perhaps she could be cured by being in the company of good people.” “What a brilliant idea!” exclaimed the king. “Let us invite the friendliest, happiest and kindest people in the city to meet in the stall next to the elephant.” “Mahaghiri, the king’s most prized elephant, has been in bad company and has become violent and dangerous,” the minister told his friends. “Will you help her to become her old self again?””Of course,” they replied. “What do you want us to do?” “Just meet in the elephant house every day for the next week. Let her hear how kindly and thoughtfully you speak to each other, and how helpful you are.” So the minister’s friends met in the elephant house as planned. They talked together and enjoyed each other’s company. Sometimes they brought cakes and sweets to share; sometimes their children came and played happily in the straw. All the while, Mahaghiri watched and listened. Gradually, she became calmer. “I think it’s working,” said the minister. “Soon we’ll be able to remove the ropes.” Everyone felt a bit nervous when the day came for Mahaghiri to be untied. The king ordered everyone to wait outside as, very carefully, brave Rajinder began to undo the ropes around her ears and trunk. Next he removed the ropes holding her head. Finally, he loosened the thick chains holding her great feet. Everyone held their breath. What if she was still wild?Mahaghiri looked round shuffling her feet to stretch them. Then she slowly curled her trunk around her keeper’s waist and lifted him high into the air before placing him gently on her back. A great cheer went up. The king was delighted. “Let’s have a picnic to celebrate,” he announced. “Mahaghiri can come too.” What a great afternoon they all had! Mahaghiri bathed in the lake and gave the children rides. It seemed as though she had now become kinder, gentler and even more trustworthy than ever. But Rajinder never forgot what had happened and was always careful to set Mahaghiri a good example by being kind and friendly himself.As per the context of passage, what was the most prized possession of the king of Benaras ?
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MCQ-> The second plan to have to examine is that of giving to each person what she deserves. Many people, especially those who are comfortably off, think this is what happens at present: that the industrious and sober and thrifty are never in want, and that poverty is due to idleness, improvidence, drinking, betting, dishonesty, and bad character generally. They can point to the fact that a labour whose character is bad finds it more difficult to get employment than one whose character is good; that a farmer or country gentleman who gambles and bets heavily, and mortgages his land to live wastefully and extravagantly, is soon reduced to poverty; and that a man of business who is lazy and does not attend to it becomes bankrupt. But this proves nothing that you cannot eat your cake and have it too; it does not prove that your share of the cake was a fair one. It shows that certain vices make us rich. People who are hard, grasping, selfish, cruel, and always ready to take advantage of their neighbours, become very rich if they are clever enough not to overreach themselves. On the other hand, people who are generous, public spirited, friendly, and not always thinking of the main chance, stay poor when they are born poor unless they have extraordinary talents. Also as things are today, some are born poor and others are born with silver spoons in their mouths: that is to say, they are divided into rich and poor before they are old enough to have any character at all. The notion that our present system distributes wealth according to merit, even roughly, may be dismissed at once as ridiculous. Everyone can see that it generally has the contrary effect; it makes a few idle people very rich, and a great many hardworking people very poor.On this, intelligent Lady, your first thought may be that if wealth is not distributed according to merit, it ought to be; and that we should at once set to work to alter our laws so that in future the good people shall be rich in proportion to their goodness and the bad people poor in proportion to their badness. There are several objections to this; but the very first one settles the question for good and all. It is, that the proposal is impossible and impractical. How are you going to measure anyone's merit in money? Choose any pair of human beings you like, male or female, and see whether you can decide how much each of them should have on her or his merits. If you live in the country, take the village blacksmith and the village clergyman, or the village washerwoman and the village schoolmistress, to begin with. At present, the clergyman often gets less pay than the blacksmith; it is only in some villages he gets more. But never mind what they get at present: you are trying whether you can set up a new order of things in which each will get what he deserves. You need not fix a sum of money for them: all you have to do is to settle the proportion between them. Is the blacksmith to have as much as the clergyman? Or twice as much as the clergyman? Or half as much as the clergyman? Or how much more or less? It is no use saying that one ought to have more the other less; you must be prepared to say exactly how much more or less in calculable proportion.Well, think it out. The clergyman has had a college education; but that is not any merit on his part: he owns it to his father; so you cannot allow him anything for that. But through it he is able to read the New Testament in Greek; so that he can do something the blacksmith cannot do. On the other hand, the blacksmith can make a horse-shoe, which the parson cannot. How many verses of the Greek Testament are worth one horse-shoe? You have only to ask the silly question to see that nobody can answer it.Since measuring their merits is no use, why not try to measure their faults? Suppose the blacksmith swears a good deal, and gets drunk occasionally! Everybody in the village knows this; but the parson has to keep his faults to himself. His wife knows them; but she will not tell you what they are if she knows that you intend to cut off some of his pay for them. You know that as he is only a mortal human being, he must have some faults; but you cannot find them out. However, suppose he has some faults he is a snob; that he cares more for sport and fashionable society than for religion! Does that make him as bad as the blacksmith, or twice as bad, or twice and quarter as bad, or only half as bad? In other words, if the blacksmith is to have a shilling, is the parson to have six pence, or five pence and one-third, or two shillings? Clearly these are fools' questions: the moment they bring us down from moral generalities to business particulars it becomes plain to every sensible person that no relation can be established between human qualities, good or bad, and sums of money, large or small.It may seem scandalous that a prize-fighter, for hitting another prize-fighter so hard at Wembley that he fell down and could not rise within ten seconds, received the same sum that was paid to the Archbishop of Canterbury for acting as Primate of the Church of England for nine months; but none of those who cry out against the scandal can express any better in money the difference between the two. Not one of the persons who think that the prize-fighter should get less than the Archbishop can say how much less. What the prize- fighter got for his six or seven months' boxing would pay a judge's salary for two years; and we all agree that nothing could be more ridiculous, and that any system of distributing wealth which leads to such absurdities must be wrong. But to suppose that it could be changed by any possible calculation that an ounce of archbishop of three ounces of judge is worth a pound of prize-fighter would be sillier still. You can find out how many candles are worth a pound of butter in the market on any particular day; but when you try to estimate the worth of human souls the utmost you can say is that they are all of equal value before the throne of God:And that will not help you in the least to settle how much money they should have. You must simply give it up, and admit that distributing money according to merit is beyond mortal measurement and judgement.Which of the following is not a vice attributed to the poor by the rich?
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking....
MCQ-> Social life is an outflow and meeting of personality, which means that its end is the meeting of character, temperament, and sensibility, in which our thoughts and feelings, and sense perceptions are brought into play at their lightest and yet keenest.This aspect, to my thinking, is realized as much in large parties composed of casual acquaintances or even strangers, as in intimate meetings of old friends. I am not one of those superior persons who hold cocktail parties in contempt, looking upon them as barren or at best as very tryingly kaleidoscopic places for gathering, because of the strangers one has to meet in them; which is no argument, for even our most intimate friends must at one time have been strangers to us. These large gatherings will be only what we make of them if not anything better, they can be as good places to collect new friends from as the slavemarkets of Istanbul were for beautiful slaves or New Market for race horses.But they do offer more immediate enjoyment. For one thing, in them one can see the external expression of social life in appearance and behaviour at its widest and most varied where one can admire beauty of body or air, hear voices remarkable either for sweetness of refinement, look on elegance of clothes or deportment. What is more, these parties are schools for training in sociability, for in them we have to treat strangers as friends. So, in them we see social sympathy in widest commonalty spread, or at least should. We show an atrophy of the natural human instinct of getting pleasure and happiness out of other human beings if we cannot treat strangers as friends for the moment. And I would go further and paraphrase Pater to say that not to be able to discriminate every moment some passionate attitude in those about us, even when we meet them casually, is on this short day of frost and sun which out life is, to sleep before evening.So, it will be seen that my conception of social life is modest, for it makes no demands on what we have, though it does make some on what we are. Interest, wonder, sympathy, and love, the first two leading to the last two, are the psychological prerequisites for social life; and the need for the first two must not be underrated. We cannot make the most even of our intimate social life unless we are able to make strangers of our oldest friends everyday by discovering unknown areas in their personality, and transform them into new friends. In sum, social life is a function of vitality.It is tragic, however, to observe that it is these very natural springs of social life which are drying up among us. It is becoming more and more difficult to come across fellow-feeling for human beings as such in our society and in all its strata. In the poor middle class, in the course of all my life. I have hardly seen any social life properly so-called. Not only has the grinding routine of making a living killed all desire for it in them, it has also generated a standing mood of peevish hostility to other human beings. Increasing economic distress in recent years has infinitely worsened this state of affairs, and has also brought a sinister addition class hatred. This has become the greatest collective emotional enjoyment of the poor middle class, and indeed they feel most social when they form a pack, and snarl or howl at people who are better off than they.Their most innocent exhibition of sociability is seen when they spill out from their intolerable homes into the streets and bazaars. I was astonished to see the milling crowds in the poor suburbs of Calcutta. But even there a group of flippant young loafers would put on a conspiratorial look if they saw a man in good clothes passing by them either on foot or in a car. I had borrowed a car from a relative to visit a friend in one of these suburbs, and he became very anxious when I had not returned before dusk. Acid and bombs, he said, were thrown at card almost every evening in that area. I was amazed. But I also know as a fact that my brother was blackmailed to pay five rupees on a trumped up charge when passing in a car through one such locality.The situation is differently inhuman, but not a whit more human, among the well-to-do. Kindliness for fellow human beings has been smothered in them, taken as a class, by the arrogance of worldly position, which among the Bengalis who show this snobbery is often only a third-class position.The word ‘they’ in the first sentence of the third paragraph refers to
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