Time period that is considered from the inception of the credit, investment or negotiable instrument and ends upon the maturity or expiry of the instrument is referred as ________ A. Amortisation Period B. Amortising Swap C. Asset Backed Security D. Attrition Analysis

Time period that is considered from the inception of the credit, investment or negotiable instrument and ends upon the maturity or expiry of the instrument is referred as ________ A. Amortisation Period B. Amortising Swap C. Asset Backed Security D. Attrition Analysis
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A. Amortisation Period Explanation: The amortisation period on a mortgage is the total length of time it will take you to pay off your mortgage.
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Mark the correct option MIS account opened on or after 01 Apr 12 a) The rate of interest shall be 8.5 % per annum payable monthly. b) No withdrawal will be allowed before expiry of maturity period 5 years c) No bonus shall be payable d) All the above

Description : Mark the correct option MIS account opened on or after 01 Apr 12 a) The rate of interest shall be 8.5 % per annum payable monthly. b) No withdrawal will be allowed before expiry of maturity period 5 years c) No bonus shall be payable d) All the above

Last Answer : d) All the above

Your firm has a philosophy that is analogous to the hedging (maturity matching) approach. Which of the following is the most appropriate non-spontaneous form for financing the excess seasonal current asset needs? A. Trade credit. B. 6-month bank notes. C. Accounts payable. D. Common stock equity.

Description : Your firm has a philosophy that is analogous to the hedging (maturity matching) approach. Which of the following is the most appropriate non-spontaneous form for financing the excess seasonal current asset needs? ... credit. B. 6-month bank notes. C. Accounts payable. D. Common stock equity.

Last Answer : B. 6-month bank notes.

A perpetual bond does not have a fixed _________. a) interest rate b) maturity period c) duration d) underlying asset

Description : A perpetual bond does not have a fixed _________. a) interest rate b) maturity period c) duration d) underlying asset

Last Answer : b) maturity period

Mark the correct option a) The MIS account can be close after expiry of one year. b) The MIS account closed after one year but before three year 2 % deduction will be made on initial deposit c) The MIS account closed after expiry of three year 1% deduction will be made . on the initial deposit d) In case of death of the depositor before maturity account may be closed and deposit refunded along with interest up to the month preceding the month in which refund made. e) All the above

Description : Mark the correct option a) The MIS account can be close after expiry of one year. b) The MIS account closed after one year but before three year 2 % deduction will be made on initial deposit ... along with interest up to the month preceding the month in which refund made. e) All the above

Last Answer : e) All the above

An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956

Description : An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956

Last Answer : C. Payment and Settlement Systems Act 2007 Explanation: Under the Section 25 of Payment and Settlement Systems (PSS) Act, 2007, dishonour of an electronic fund transfer instruction due to insufficiency ... fine or both, similar to the dishonour of a cheque under the Negotiable Instruments Act 1881.

Which of the following is the negotiable instrument? A. Fixed Deposit of a Bank B. Share certificate issued by a PSU C. Demand Draft issued by a bank D. Debenture of a company E. Airway Receipt

Description : Which of the following is the negotiable instrument? A. Fixed Deposit of a Bank B. Share certificate issued by a PSU C. Demand Draft issued by a bank D. Debenture of a company E. Airway Receipt

Last Answer : C. Demand Draft issued by a bank Explanation: A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).

A negotiable instrument delivered to a person conditionally or for safe custody, but not for the purpose of negotiation is called _________ A. Protest B. Escrow C. Noting D. All of the Above E. None of the Above

Description : A negotiable instrument delivered to a person conditionally or for safe custody, but not for the purpose of negotiation is called _________ A. Protest B. Escrow C. Noting D. All of the Above E. None of the Above

Last Answer : B. Escrow Explanation: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties.

Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Description : Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Last Answer : C. Both (A) and (B) Explanation: Co-operative banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965

Banks are required to maintain SLR under_____ A. Section 24 of the Banking Regulation Act B. Section 35 of the Negotiable Instrument Act, 1881 C. Section 24 of RBI Act D. Section 40 of Indian Contract Act, 1872 E. None of the Above

Description : Banks are required to maintain SLR under_____ A. Section 24 of the Banking Regulation Act B. Section 35 of the Negotiable Instrument Act, 1881 C. Section 24 of RBI Act D. Section 40 of Indian Contract Act, 1872 E. None of the Above

Last Answer : A. Section 24 of the Banking Regulation Act Explanation: SLR is governed by the provisions of Section 24 of the Banking Regulation Act. There is no minimum stipulation on SLR (earlier there used to ... with an amendment to the Banking Regulation Act in 2007). However, SLR can not exceed 40%.

The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

Description : The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

Last Answer : C. The Banking Regulation Act, 1949 Explanation: As per Section 5(b) of the Banking Regulation Act, 1949 , -banking means the accepting, for the purpose of lending or investment, of deposits ... the public, repayable on demand or otherwise, and withdraw-able by cheque, draft, order or otherwise.

Under the SARFAESI Act, 2002, the Central Registrar may allow the filing of the particulars of creation of security interest within _____ next following the expiry of the period of initial thirty days on payment of additional fee. a) Ten days b) Thirty days c) Twenty-five days d) Fifteen days

Description : Under the SARFAESI Act, 2002, the Central Registrar may allow the filing of the particulars of creation of security interest within _____ next following the expiry of the period of initial thirty days on payment of additional fee. a) Ten days b) Thirty days c) Twenty-five days d) Fifteen days

Last Answer : b) Thirty days

A Shareholder has been defined by ________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. The companies act, 1956

Description : A Shareholder has been defined by ________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. The companies act, 1956

Last Answer : E. The companies act, 1956 Explanation: The Companies Act, 1956 ―Small Shareholder‖ means a shareholder holding shares of nominal value of twenty thousand rupees or less in a public company to which section 252 of the Act applies.

The section 4 of the Negotiable Instruments Act, 1881 deals with ________ A. Cheque B. Bills of Exchange C. Promissory Note D. All of the Above E. None of the Above

Description : The section 4 of the Negotiable Instruments Act, 1881 deals with ________ A. Cheque B. Bills of Exchange C. Promissory Note D. All of the Above E. None of the Above

Last Answer : C. Promissory Note Explanation: The section 4 of the Negotiable Instruments Act, 1881 deals with Promissory Note.

________ are financial markets for the buying and selling of long-term debt or equity-backed securities. A. Bullion Market B. Capital Market C. Money Market D. All of the Above E. None of the Above

Description : ________ are financial markets for the buying and selling of long-term debt or equity-backed securities. A. Bullion Market B. Capital Market C. Money Market D. All of the Above E. None of the Above

Last Answer : B. Capital Market Explanation: Capital market is a market where buyers and sellers engage in trade of financial securities like bonds, stocks, etc

Currency Swap is an instrument to manage _______ A. currency risk B. interest rate risk C. currency and interest rate risk D. cash flows in different currency E. All of the above

Description : Currency Swap is an instrument to manage _______ A. currency risk B. interest rate risk C. currency and interest rate risk D. cash flows in different currency E. All of the above

Last Answer : D. cash flows in different currency Explanation: A currency swap (or a cross currency swap) is a foreign exchange derivative between two institutions to exchange the principal and/or interest payments of a loan in one currency for equivalent amounts, in net present value terms, in another currency.

Currency swap is an instrument to manage _______ A. Interest Rate Risk B. Currency Risk C. Cash flows in different countries D. All of the Above E. None of the Above

Description : Currency swap is an instrument to manage _______ A. Interest Rate Risk B. Currency Risk C. Cash flows in different countries D. All of the Above E. None of the Above

Last Answer : C. Cash flows in different countries Explanation: A currency swap (or a cross currency swap) is a foreign exchange derivative between two institutions to exchange the principal and/or interest ... loan in one currency for equivalent amounts, in net present value terms, in another currency.

Rather than constructing their own currency baskets, many nations peg the value of their currencies to a currency basket defined by the International Monetary Fund. Which of the following illustrates this basket? A. IMF tranche B. Special Drawing Rights C. Primary reserve asset D. Swap facility

Description : Rather than constructing their own currency baskets, many nations peg the value of their currencies to a currency basket defined by the International Monetary Fund. Which of the following illustrates this ... . IMF tranche B. Special Drawing Rights C. Primary reserve asset D. Swap facility

Last Answer : B. Special Drawing Right

An account which remains in operative for an extended period of time is referred as ________ A. DEMAT Account B. Dormant Account C. Nominal Account D. Deposit Account

Description : An account which remains in operative for an extended period of time is referred as ________ A. DEMAT Account B. Dormant Account C. Nominal Account D. Deposit Account

Last Answer : B. Dormant Account Explanation: When there has been no financial activity for a long period of time, other than posting of interest, an account can be classified as dormant.

In determining reasonable time for the purpose of payment of a negotiable instrument A. Public holidays are included B. Public holidays are excluded C. Only the holidays observed by the banks are excluded D. None of the above.

Description : In determining reasonable time for the purpose of payment of a negotiable instrument A. Public holidays are included B. Public holidays are excluded C. Only the holidays observed by the banks are excluded D. None of the above.

Last Answer : B. Public holidays are excluded

Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section 49) B. Yes, the holder can, without signing his own name, and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank into an indorsement in full (Section 49) C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)

'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.

Description : 'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.

Last Answer : A. On presentation

Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means A. Where the indorser does not write anything on the instrument B. Where the indorser signs his name only on the instrument C. Where the indorser writes the name of the person who is directed to pay D. None of the above.

Description : Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means A. Where the indorser does not write anything on the instrument B. Where the indorser signs his name only on ... the indorser writes the name of the person who is directed to pay D. None of the above.

Last Answer : A. Where the indorser does not write anything on the instrument

The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof B. The payment by a bank on a negotiable instrument after due verification of the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above.

Description : The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above

Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof

The relationship between maturity and interest rates is known as ________ A. Yield Curve B. Zero Coupon Yield Curve C. Negative Yield Curve D. Neutral Yield Curve E. None of the Above

Description : The relationship between maturity and interest rates is known as ________ A. Yield Curve B. Zero Coupon Yield Curve C. Negative Yield Curve D. Neutral Yield Curve E. None of the Above

Last Answer : B. Zero Coupon Yield Curve Explanation: The Zero Coupon Yield Curve aka the Spot Curve is a relationship between maturity and interest rates which differs from a normal yield curve

NBFCs include ______ A. loan company B. investment company C. asset finance company D. All of the Above E. None of the Above

Description : NBFCs include ______ A. loan company B. investment company C. asset finance company D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: NBFCs include a loan company, an investment company, asset finance company (i.e. a company conducting the business of equipment leasing or hire purchase finance) and Residuary Non-Banking Companies.

In Bank‟s balance sheet, which of the following is an asset? A. Its paid up capital B. Its saved deposits C. Its instrument in government securities D. Its accumulated Reserve Funds E. Its Current Deposits

Description : In Bank‟s balance sheet, which of the following is an asset? A. Its paid up capital B. Its saved deposits C. Its instrument in government securities D. Its accumulated Reserve Funds E. Its Current Deposits

Last Answer : C. Its instrument in government securities Explanation: Bank assets comprises cash, money at short notice, bills and securities discounted, bank‘s investments in government securities, loans sanctioned by the bank.

Which one of the following statements is NOT correct about HTTP cookies? a. A cookies is a piece of code that has the potential to compromise the security of an Internet user b. A cookie gains entry to the user’s work area through an HTTP header c. A cookie has an expiry date and time d. Cookies can be used to track the browsing pattern of a user at a particular site

Description : Which one of the following statements is NOT correct about HTTP cookies? a. A cookies is a piece of code that has the potential to compromise the security of an Internet user b. A cookie gains entry ... and time d. Cookies can be used to track the browsing pattern of a user at a particular site

Last Answer : a. A cookies is a piece of code that has the potential to compromise the security of an Internet user

This bears the registration number, date of issuance with an expiry date, due for periodic renewal, duly signed by the Chairperson of the PRC and issued by the PRC to a registered CPA upon payment of the registration fees: a. Certificate of registration b. Certificate of accreditation c. Professional identification card d. Professional tax receipt

Description : This bears the registration number, date of issuance with an expiry date, due for periodic renewal, duly signed by the Chairperson of the PRC and issued by the PRC to a ... Certificate of registration b. Certificate of accreditation c. Professional identification card d. Professional tax receipt

Last Answer : Professional identification card

A non performing Asset in Banking Business means ________ A. A fixed asset of Bank is not been utilized B. A portion of deposits not been utilized C. A loan asset on which interest and/or instalments remain unchanged. D. All of the Above E. None of the Above

Description : A non performing Asset in Banking Business means ________ A. A fixed asset of Bank is not been utilized B. A portion of deposits not been utilized C. A loan asset on which interest and/or instalments remain unchanged. D. All of the Above E. None of the Above

Last Answer : C. A loan asset on which interest and/or instalments remain unchanged. Explanation: A nonperforming asset (NPA) refers to a classification for loans on the books of financial institutions that are in ... is classified as nonperforming when loan payments have not been made for a period of 90 days.

FATF stands for ________ A. Financial Action Task Force B. Financial Asset Task Force C. Financial Asset Trade Force D. Financial Action Trade Force E. None of the Above

Description : FATF stands for ________ A. Financial Action Task Force B. Financial Asset Task Force C. Financial Asset Trade Force D. Financial Action Trade Force E. None of the Above

Last Answer : A. Financial Action Task Force Explanation: The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d action financière (GAFI), is an ... organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

What is the maturity period for senior citizen savings scheme? A. 3 years B. 5 years C. 2 years D. 5 years E. 4 years

Description : What is the maturity period for senior citizen savings scheme? A. 3 years B. 5 years C. 2 years D. 5 years E. 4 years

Last Answer : B. 5 years Explanation: There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh in senior citizen savings scheme. Maturity period is 5 years.

What is the minimum maturity period for Rupee Denominated Bonds? A. 2 years B. 3 years C. 4 years D. 5 years E. None of the Above

Description : What is the minimum maturity period for Rupee Denominated Bonds? A. 2 years B. 3 years C. 4 years D. 5 years E. None of the Above

Last Answer : B. 3 years Explanation: The Rupee denominated bonds can only be issued in a country and can only be subscribed by a resident of a country with minimum maturity period of 3 years.

A financial contract that derives its value from another asset or an index of asset values is known as __________ A. Insurance Policy B. Security C. Derivative D. Share E. None of the above

Description : A financial contract that derives its value from another asset or an index of asset values is known as __________ A. Insurance Policy B. Security C. Derivative D. Share E. None of the above

Last Answer : C. Derivative Explanation: In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

Which of the following is/are provided by the platform of CERSAI? A. Registrations of transactions of securitisation B. Asset Reconstruction C. Security Interest D. All of the Above E. None of these

Description : Which of the following is/are provided by the platform of CERSAI? A. Registrations of transactions of securitisation B. Asset Reconstruction C. Security Interest D. All of the Above E. None of these

Last Answer : D. All of the Above Explanation: The Company is providing the platform for filing registrations of transactions of securitisation, asset reconstruction and security interest by the banks and financial institutions.

What is the full form of CERSAI? A. Combined Registry of Securitisation Asset Reconstruction and Security Interest B. Central Registry of Securitisation Agency Reconstruction and Security Interest C. Combined Registry of Securitisation Agency Reconstruction and Security Interest D. Central Registry of Securitisation Asset Reconstruction and Security Interest E. None of these

Description : What is the full form of CERSAI? A. Combined Registry of Securitisation Asset Reconstruction and Security Interest B. Central Registry of Securitisation Agency Reconstruction and Security Interest C ... D. Central Registry of Securitisation Asset Reconstruction and Security Interest E. None of these

Last Answer : D. Central Registry of Securitisation Asset Reconstruction and Security Interest Explanation: Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) is a central online security ... in which people would take multiple loans on the same asset from different banks.

For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier C. Within a period of 15 days from the date on which it is drawn D. None of the above.

Description : For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six ... . Within a period of 15 days from the date on which it is drawn D. None of the above.

Last Answer : B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier

When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Description : When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Last Answer : A. Specially

Why do credit cards have an expiry date?

Description : Why do credit cards have an expiry date?

Last Answer : I assume this card is with a major bank or organization. If you’re up to date on up your payments you’ll get a new card in February, and it will probably have an expiration date 3 or 4 years out. But to be certain, just call customer service. The toll-free number is on the back of your card.

The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Description : The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Last Answer : d) All the above

The IPO presented after the expiry period of currency, but before the time for forfeiture a) Cannot be paid b) Can be paid on authority from the audit c) Can be paid on payment of second commission by means of postage stamps d) None of these

Description : The IPO presented after the expiry period of currency, but before the time for forfeiture a) Cannot be paid b) Can be paid on authority from the audit c) Can be paid on payment of second commission by means of postage stamps d) None of these

Last Answer : c) Can be paid on payment of second commission by means of postage stamps

Which one is not the duties of bailee (a) The bailee must take care of goods as of his goods. (b) The bailee cannot use bailor’s goods in an unauthorised manner. (c) The bailee should return the goods without demand on the expiry of the time period. (d) He can set up adverse title to the goods.

Description : Which one is not the duties of bailee (a) The bailee must take care of goods as of his goods. (b) The bailee cannot use bailor’s goods in an unauthorised manner. (c) The bailee should return the goods without demand on the expiry of the time period. (d) He can set up adverse title to the goods.

Last Answer : (d) He can set up adverse title to the goods.

Government securities are considered liquid because they are - (1) backed by the Government treasury (2) convertible into other types of saving deposits (3) quickly and easily marketable (4) stable in value

Description : Government securities are considered liquid because they are - (1) backed by the Government treasury (2) convertible into other types of saving deposits (3) quickly and easily marketable (4) stable in value

Last Answer : (3) quickly and easily marketable Explanation: Liquid Asset is an asset that can be converted into cash quickly and with minimal impact to the price received. In a liquid market, ... free highly liquid financial instruments, which market participants are more willing to transact and take positions.

Government securities are considered liquid because they are (1) backed by the Government treasury (2) convertible into other types of saving deposits (3) quickly and easily marketable (4) stable in value

Description : Government securities are considered liquid because they are (1) backed by the Government treasury (2) convertible into other types of saving deposits (3) quickly and easily marketable (4) stable in value

Last Answer : quickly and easily marketable 

Mark the correct option a) There is no maximum limit of deposit in TD accounts of any type b) No subsequent withdrawal allowed in TD accounts before date of maturity c) The investment under 5 years TD qualifies for the benefit of Section 80C f the income tax Act 1961 from 01-04-2007 d) All the above

Description : Mark the correct option a) There is no maximum limit of deposit in TD accounts of any type b) No subsequent withdrawal allowed in TD accounts before date of maturity c) The investment under 5 years TD ... the benefit of Section 80C f the income tax Act 1961 from 01-04-2007 d) All the above

Last Answer : d) All the above

The Order Book of a Record Office: (A) Is a permanent record and should not be destroyed at all (B) May be destroyed as usual after expiry of the preservation period (C) May not be destroyed without the special permission of the Superintendent (D) May not be destroyed without the special permission of Head of the Circle / Region

Description : The Order Book of a Record Office: (A) Is a permanent record and should not be destroyed at all (B) May be destroyed as usual after expiry of the preservation period (C) May not be ... the Superintendent (D) May not be destroyed without the special permission of Head of the Circle / Region

Last Answer : (D) May not be destroyed without the special permission of Head of the Circle / Region

A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Description : A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Last Answer : b) On the expiry of the period

(i) Goodwill is a tangible asset. (ii) For income tax purposes an accounting year starts on 1st January and ends on 31st March.

Description : (i) Goodwill is a tangible asset. (ii) For income tax purposes an accounting year starts on 1st January and ends on 31st March.

Last Answer : Do you agree or disagree with the following statement : (i) Goodwill is a tangible ... paid on installation of machinery are revenue expenditures.

Derivatives contract which gives the buyer/holder of the contract the right(but not the obligation) to buy/sell the underlying asset at a predetermined price within or at end of a specified period is known as A. Futures contract B. Option Contract C. Index Futures contract D. Mini Derivative contract E. None of the Above

Description : Derivatives contract which gives the buyer/holder of the contract the right(but not the obligation) to buy/sell the underlying asset at a predetermined price within or at end of a specified period is ... B. Option Contract C. Index Futures contract D. Mini Derivative contract E. None of the Above

Last Answer : B. Option Contract Explanation: Options Contract is a type of Derivatives Contract which gives the buyer/holder of the contract the right (but not the obligation) to buy/sell the underlying asset at a predetermined price within or at end of a specified period.