In NEFT, What is the charge for transactions above Rs 10,000 upto Rs.1 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above

In NEFT, What is the charge for transactions above Rs 10,000 upto Rs.1 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above
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B. not exceeding Rs 5 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Service Tax)
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In NEFT What is the charge for transactions above Rs 1 lakh and upto Rs.2 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above

Description : In NEFT What is the charge for transactions above Rs 1 lakh and upto Rs.2 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above

Last Answer : C. not exceeding Rs 15 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Service Tax)

In NEFT What is the charge for transactions up to Rs 10,000? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above

Description : In NEFT What is the charge for transactions up to Rs 10,000? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above

Last Answer : A. not exceeding Rs 2.50 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions up to Rs 10,000 : not exceeding Rs 2.50 (+ Service Tax)

What is the charge of Inward transactions at destination bank branches in NEFT? A. Rs.1 B. Rs.1.50 C. Rs.2 D. No Charge

Description : What is the charge of Inward transactions at destination bank branches in NEFT? A. Rs.1 B. Rs.1.50 C. Rs.2 D. No Charge

Last Answer : D. No Charge Explanation: Inward transactions – Free, no charge to be levied.

According to RBI guidelines the term „bulk deposit‟ is used for single rupee term deposit of ________ A. Rs. 1 crore and above B. Rs, 25 lakh and above C. Rs, 75 lakh and above D. Rs, 50 lakh and above E. Rs, 15 lakh and above

Description : According to RBI guidelines the term „bulk deposit‟ is used for single rupee term deposit of ________ A. Rs. 1 crore and above B. Rs, 25 lakh and above C. Rs, 75 lakh and above D. Rs, 50 lakh and above E. Rs, 15 lakh and above

Last Answer : A. Rs. 1 crore and above Explanation: Bulk Deposit means single Rupee term deposits of 1 Crore and above.

The beneficiary can expect to get credit for the NEFT transactions within ______business hours. A. 2 B. 3 C. 1 D. None of the Above

Description : The beneficiary can expect to get credit for the NEFT transactions within ______business hours. A. 2 B. 3 C. 1 D. None of the Above

Last Answer : A. 2 Explanation: The beneficiary can expect to get credit for the NEFT transactions within two business hours (currently NEFT business hours is from morning 8 AM to evening 7 PM on all week days ... morning 8 AM to afternoon 1 PM on Saturdays) from the batch in which the transaction was settled.

NEFT is an electronic fund transfer system that operates on a _________ basis which settles transactions in batches. A. Domain Net Settlement (DNS) B. Defined Net Settlement (DNS) C. Declared Net Settlement (DNS) D. Deferred Net Settlement (DNS)

Description : NEFT is an electronic fund transfer system that operates on a _________ basis which settles transactions in batches. A. Domain Net Settlement (DNS) B. Defined Net Settlement (DNS) C. Declared Net Settlement (DNS) D. Deferred Net Settlement (DNS)

Last Answer : D. Deferred Net Settlement (DNS) Explanation: NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the ... till the particular cut-off time. These transactions are netted (payable and receivables) in NEFT.

In National Savings Certificates, investment up to ________ per annum qualifies for IT Rebate under section 80C of Income Tax Act. A. Rs.10 lakh B. Rs.2 lakh C. Rs.5 lakh D. Rs.1 lakh

Description : In National Savings Certificates, investment up to ________ per annum qualifies for IT Rebate under section 80C of Income Tax Act. A. Rs.10 lakh B. Rs.2 lakh C. Rs.5 lakh D. Rs.1 lakh

Last Answer : D. Rs.1 lakh Explanation: There is no maximum limit for investment. Certificates can be kept as collateral security to get loan from banks. Investment up to INR 1,00,000/- per annum qualifies for ... Tax Act. Trust and HUF cannot invest. Rate of interest effective from 1st April 2016 is 8.10%

The Cabinet Committee on Economic Affairs has recently raised the emoluments of President, the Vice-President and the Governors. The emolument payable to the President, has been raised to – (1) Rs. 1.00 lakh from Rs. 50,000 per month (2) Rs. 1.50 lakh from Rs. 50,000 per month (3) Rs. 1.75 lakh from Rs. 75,000 per month (4) Rs. 2.00 lakh from Rs. 1.00 lakh per month

Description : The Cabinet Committee on Economic Affairs has recently raised the emoluments of President, the Vice-President and the Governors. The emolument payable to the President, has been raised to - (1) Rs. 1.00 lakh from Rs. 50, ... from Rs. 75,000 per month (4) Rs. 2.00 lakh from Rs. 1.00 lakh per month

Last Answer : (2) Rs. 1.50 lakh from Rs. 50,000 per month Explanation: Emoluments of the President, the Vice President and Governors were raised by 300 per cent in 2008. The President's ... Singh. The CCEA also rationalized postretirement benefits to former Presidents, former Vice Presidents and their spouses.

The cost of replacement of inefficient chiller with an energy efficient chiller in a plant was Rs. 10 lakh .The net annual cash flow is Rs 2.50 lakh .The return on investment is: a) 18% b) 20% c) 15 % d) none of the above

Description : The cost of replacement of inefficient chiller with an energy efficient chiller in a plant was Rs. 10 lakh .The net annual cash flow is Rs 2.50 lakh .The return on investment is: a) 18% b) 20% c) 15 % d) none of the above

Last Answer : d) none of the above

RBI has eased norms in cheque dishonour cases of Rs ______ and above. A) 50 lakh B) 1 crore C) 1 lakh D) 10 crore E) 5 crore

Description : RBI has eased norms in cheque dishonour cases of Rs ______ and above. A) 50 lakh B) 1 crore C) 1 lakh D) 10 crore E) 5 crore

Last Answer : B) 1 crore Explanation: Relaxing chequebook norms, the Reserve Bank today left it to the lender s discretion on whether to issue fresh chequebooks or not in cases of dishonour of Rs 1 crore and ... valuing Rs 1 crore and above on four occasions during a financial year for want of sufficient funds.

The paid up capital and collected funds of scheduled bank must not be less than _________ A. Rs. 10 lakh B. Rs. 20 lakh C. Rs. 15 lakh D. Rs. 5 lakh E. None of the Above

Description : The paid up capital and collected funds of scheduled bank must not be less than _________ A. Rs. 10 lakh B. Rs. 20 lakh C. Rs. 15 lakh D. Rs. 5 lakh E. None of the Above

Last Answer : D. Rs. 5 lakh Explanation: Banks under in the second schedule of RBI Act, 1934 are called scheduled bank.To qualify as a scheduled bank, the paid up capital and collected funds of the bank must ... for loans from the Reserve Bank of India at bank rate, and are given membership to clearing houses.

The paid-up capital of non-scheduled bank is less than _____ A. Rs. 10 lakh B. Rs. 20 lakh C. Rs. 15 lakh D. Rs. 5 lakh E. None of the Above

Description : The paid-up capital of non-scheduled bank is less than _____ A. Rs. 10 lakh B. Rs. 20 lakh C. Rs. 15 lakh D. Rs. 5 lakh E. None of the Above

Last Answer : D. Rs. 5 lakh Explanation: Banks not under in the second schedule of RBI Act, 1934 are called non-scheduled banks. Banks with a reserve capital of less than 5 lakh rupees qualify as non ... emergency or -abnormal circumstances. Jammu & Kashmir Bank is an example of a non-scheduled commercial bank.

How much amount is going to be disbursed by banks under Pradhan Mantri Mudra Yojana in FY‟17? A) Rs 2.80 lakh crore B) Rs 1.50 lakh crore C) Rs 1.80 lakh crore D) Rs 1.30 lakh crore E) Rs 1.20 lakh crore

Description : How much amount is going to be disbursed by banks under Pradhan Mantri Mudra Yojana in FY‟17? A) Rs 2.80 lakh crore B) Rs 1.50 lakh crore C) Rs 1.80 lakh crore D) Rs 1.30 lakh crore E) Rs 1.20 lakh crore

Last Answer : C) Rs 1.80 lakh crore Explanation: Having met the target last year, banks are expected to disburse Rs 1.80 lakh crore loans under the Pradhan Mantri Mudra Yojana (PMMY) in the current fiscal, ... Sinha said today. Last year, 3.5 crore beneficiaries availed Rs 1.22 lakh crore loans under PMMY.

Raman & Co., a Partnership firm, received Rs.5 lakh from Insurance Company under Keyman Insurance Policy consequent to demise of Partner Pramod. The amount of premium of Rs.230000 paid earlier was claimed as deduction u/s 37 by the firm. a) Tax-free u/s 10(10D) b) Fully taxable as Income c) Rs.270000 is taxable d) Rs.230000 is taxable

Description : Raman & Co., a Partnership firm, received Rs.5 lakh from Insurance Company under Keyman Insurance Policy consequent to demise of Partner Pramod. The amount of premium of Rs.230000 paid earlier was claimed as ... ) b) Fully taxable as Income c) Rs.270000 is taxable d) Rs.230000 is taxable

Last Answer : d) Rs.230000 is taxable

In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ A. Rs.75000 B. Rs.50000 C. Rs.80000 D. Rs.90000

Description : In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ A. Rs.75000 B. Rs.50000 C. Rs.80000 D. Rs.90000

Last Answer : B. Rs.50000 Explanation: No. There is no limit - either minimum or maximum - on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is ... -based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.

Following is treated as over – riding preferential creditor a) Retirement benefits of employees b) Retirement benefits of workers c) Salary due to employees exceeding Rs. 20,000 d) Remuneration to investigator

Description : Following is treated as over – riding preferential creditor a) Retirement benefits of employees b) Retirement benefits of workers c) Salary due to employees exceeding Rs. 20,000 d) Remuneration to investigator

Last Answer : c) Salary due to employees exceeding Rs. 20,000

In case of failed ATM transactions, if the amount is not credited to customer‟s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs.________ per day. A. 150 B. 200 C. 100 D. 10 E. 50

Description : In case of failed ATM transactions, if the amount is not credited to customer‟s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs.________ per day. A. 150 B. 200 C. 100 D. 10 E. 50

Last Answer : C. 100 Explanation: Reconciliation of failed transactions at ATMs – For any failure to re-credit the customer‘s account within 7 working days from the date of receipt of the complaint, the bank will pay compensation of Rs.100/-, per day, to the aggrieved customer.

What is the maximum limit on cash payment that is to be made to the beneficiary under MTSS in India? A. Rs. 25,000 B. Rs. 15,000 C. Rs. 10,000 D. Rs. 40,000 E. Rs. 50,000

Description : What is the maximum limit on cash payment that is to be made to the beneficiary under MTSS in India? A. Rs. 25,000 B. Rs. 15,000 C. Rs. 10,000 D. Rs. 40,000 E. Rs. 50,000

Last Answer : E. Rs. 50,000 Explanation: Amounts up to INR 50,000/- may be paid in cash to a beneficiary in India. These can also be loaded on to a pre-paid card issued by banks. Any ... However, in exceptional circumstances, where the beneficiary is a foreign tourist, higher amounts may be disbursed in cash.

The retrofitting of a variable speed drive in a plant costis Rs 0.5 lakh. The maintenance cost is Rs. 5,000/year. The return on investment is a) 25% b) 22.5% c) 24% d) 27.5%s Rs 2 lakh. The annual savings

Description : The retrofitting of a variable speed drive in a plant costs Rs 2 lakh. The annual savingsis Rs 0.5 lakh. The maintenance cost is Rs. 5,000/year. The return on investment is a) 25% b) 22.5% c) 24% d) 27.5%

Last Answer : b) 22.5%

Under Liberalised Remittance Scheme, PAN card need not be insisted upon for remittance made towards permissible current account transactions up to __________ A. USD 25,000 B. USD 20,000 C. USD 15,000 D. USD 10,000 E. None of the Above

Description : Under Liberalised Remittance Scheme, PAN card need not be insisted upon for remittance made towards permissible current account transactions up to __________ A. USD 25,000 B. USD 20,000 C. USD 15,000 D. USD 10,000 E. None of the Above

Last Answer : A. USD 25,000 Explanation: PAN card need not be insisted upon for remittance made towards permissible current account transactions up to USD 25,000 per financial year.

Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 June 2017 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 lakh on 14 January 2018. Rate of depreciation of block is 10%. Calculate the amount of depreciation available during the previous year for the block. e. rupees 1.95 lakh f. rupees 2.5 lakh g. rupees 2.25 lakh h. Rs 1.45 lakh

Description : Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 June 2017 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 ... . rupees 1.95 lakh f. rupees 2.5 lakh g. rupees 2.25 lakh h. Rs 1.45 lakh

Last Answer : e. rupees 1.95 lakh

Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 January 2018 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 lakh on 14 January 2018. Rate of depreciation of block is 10%. Calculate the amount of depreciation available during the previous year. a. rupees 1.95 lakh b. rupees 2.5 lakh c. rupees 2.25 lakh d. Rs 1.45 lakh

Description : Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 January 2018 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 ... rupees 1.95 lakh b. rupees 2.5 lakh c. rupees 2.25 lakh d. Rs 1.45 lakh

Last Answer : d. Rs 1.45 lakh

Opening WDV of the block of assets was Rs.15 lakh. During the year, asset was acquired under this block on 15th June2017 amounting to Rs. 10 Lakh. Rate of depreciation of the block is 15%. Calculate the amount of depreciation available during the P.Y. a) Rs. 3.5 Lakh b) Rs. 3.75 lakh c) Rs. 3.00 lakh d) Rs.2.25 Lakh

Description : Opening WDV of the block of assets was Rs.15 lakh. During the year, asset was acquired under this block on 15th June2017 amounting to Rs. 10 Lakh. Rate of depreciation of the block is 15%. Calculate the amount of depreciation ... 3.5 Lakh b) Rs. 3.75 lakh c) Rs. 3.00 lakh d) Rs.2.25 Lakh

Last Answer : b) Rs. 3.75 lakh

XYZ company has 50 lakh shares outstanding and plans to raise Rs.20 lakh by offering 10 lakh shares at Rs.2 per share. What is XYZ's post-money valuation? a) Rs.1.20 crore b) Rs.1 crore c) Rs.50 lakh d) Rs.2 crore

Description : XYZ company has 50 lakh shares outstanding and plans to raise Rs.20 lakh by offering 10 lakh shares at Rs.2 per share. What is XYZ's post-money valuation? a) Rs.1.20 crore b) Rs.1 crore c) Rs.50 lakh d) Rs.2 crore

Last Answer : a) Rs.1.20 crore

HSK, an LLP has taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2017 and an amount of rupees 75 lakhs was paid by the insurers to the Managing partner. The amount so received on maturity of the policy a. fully exempt under section 10(10D) b. 50% of rupees 75 lakh is exempt c. rupees 75 lakh is taxable d. rupee 25 lakh is exempt and Rs 50 lakh is taxable

Description : HSK, an LLP has taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2017 and an amount of rupees 75 lakhs was paid by the insurers to the Managing partner ... c. rupees 75 lakh is taxable d. rupee 25 lakh is exempt and Rs 50 lakh is taxable

Last Answer : c. rupees 75 lakh is taxable

Value payable article VP fee is a) Up to 20/- Rs 2/- b) Exceeding 20/- to 50/- Rs 3/- c) Exceeding 50/- Rs 5/- d) All the above correct

Description : Value payable article VP fee is a) Up to 20/- Rs 2/- b) Exceeding 20/- to 50/- Rs 3/- c) Exceeding 50/- Rs 5/- d) All the above correct

Last Answer : d) All the above correct

What is the difference between money spent by both companies on tax ( in lakh Rs.)? a) 26.8 b) 24.4 c) 24.6 d) 23.8 e) None of these

Description : What is the difference between money spent by both companies on tax ( in lakh Rs.)? a) 26.8 b) 24.4 c) 24.6 d) 23.8 e) None of these

Last Answer : e) None of these

Maximum loan amount to individuals against security shares can be _____ A. 20 lakh B. 15 lakh C. 25 lakh D. 50 lakh E. other than those given as options

Description : Maximum loan amount to individuals against security shares can be _____ A. 20 lakh B. 15 lakh C. 25 lakh D. 50 lakh E. other than those given as options

Last Answer : A. 20 lakh Explanation: Loans/ advances granted to individuals against the security of shares, debentures and PSU bonds should not exceed Rs.10 lakh and Rs.20 lakh, if the securities are held in physical form and dematerialized form respectively.

In case of an offence punished with fine only, an offender who is sentenced to pay a fine of not exceeding Rs. 100 but exceeding Rs. 50, the imprisonment in default of payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months.

Description : In case of an offence punished with fine only, an offender who is sentenced to pay a  fine of not exceeding Rs. 100 but exceeding Rs. 50, the imprisonment in default of  payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months.

Last Answer : (c) Four months

In case of an offence punished with fine only, an offender who is sentenced to pay a fine of not exceeding Rs. 50, the imprisonment in default of payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months.

Description : In case of an offence punished with fine only, an offender who is sentenced to pay a  fine of not exceeding Rs. 50, the imprisonment in default of payment of fine shall not  exceed (a) Two months (b) Three months (c) Four months (d) Six months.

Last Answer : (a) Two months

Pick up the incorrect statement from the following: (A) No deduction is made for the volume occupied by reinforcement (B) No deduction is made for the openings upto 0.1 sq.m (C) No deduction is made for volumes occupied by pipes, not exceeding 100 sq.cm in crosssection (D) None of these

Description : Pick up the incorrect statement from the following: (A) No deduction is made for the volume occupied by reinforcement (B) No deduction is made for the openings upto 0.1 sq.m (C) No deduction is made for volumes occupied by pipes, not exceeding 100 sq.cm in crosssection (D) None of these

Last Answer : (D) None of these

What is the prize money given with Rajiv Gandhi Khel Ratna? (1) Rs. 1.50 lakh (2) Rs. 2 lakhs (3) Rs. 3 lakhs (4) Rs. 5 lakhs

Description : What is the prize money given with Rajiv Gandhi Khel Ratna? (1) Rs. 1.50 lakh (2) Rs. 2 lakhs (3) Rs. 3 lakhs (4) Rs. 5 lakhs

Last Answer : Rs. 5 lakhs

A company has 5 lakh shares of Rs. 15 each. The capital of the company is _________.

Description : A company has 5 lakh shares of Rs. 15 each. The capital of the company is _________.

Last Answer : A company has 5 lakh shares of Rs. 15 each. The capital of the company is _________.

. If debt equity ratio is 3:1; the amount of total assets are Rs.20 lakh; current ratio is 1.5:1 and owned funds are Rs.3 lakh. What is the amount of current assets? a) Rs.5 lakh b) Rs.3 lakh c) Rs.12 lakh d) Rs.15 lakh

Description : . If debt equity ratio is 3:1; the amount of total assets are Rs.20 lakh; current ratio is 1.5:1 and owned funds are Rs.3 lakh. What is the amount of current assets? a) Rs.5 lakh b) Rs.3 lakh c) Rs.12 lakh d) Rs.15 lakh

Last Answer : c) Rs.12 lakh

There are three different categories of jobs A, B and C. The average salary of the students who got the job of A and B categories is Rs.32 lakh per annum. The average salary of the student who got the job of B and C category is 54 lakh per annum. And the average salary of those students who got the job of A and C is Rs.44 lakh per annum. The most appropriate (or closet) range of average salary of all the three categories (if it is known that each student gets only one category for jobs i.e, A, B and C): A) lies between 30 & 44 B) lies between 48 & 56 C) lies between 38 & 45 D) lies between 49 & 50

Description : There are three different categories of jobs A, B and C. The average salary of the students who got the job of A and B categories is Rs.32 lakh per annum. The average salary of the student who got the job of B ... 30 & 44 B) lies between 48 & 56 C) lies between 38 & 45 D) lies between 49 & 50

Last Answer : Answer: C) Let the number of students who got the jobs of A, B and C categories is a, b and c respectively, ∴Total salary of Aand B = 32 (a +b) ∴Total salary of B and C = 54 (b+ ... the minimum salary must be Rs.38 lakh and the maximum salary cannot exceed 45, which is the highest of the three..

Find the average of even numbers above 1000 & upto 1 lakh? A) 50500 B) 50000 C) 49500 D) 51500

Description : Find the average of even numbers above 1000 & upto 1 lakh? A) 50500 B) 50000 C) 49500 D) 51500

Last Answer : Answer: A) No of even numbers upto 1lkah = 50000 No of even numbers upto 1000 = 500 No of even numbers above 1000& upto 1 lakh= 49500 sum of first N even numbers = N*N sum ... - 500*500 = 2499750000 average of even numbers above 1000& upto 1 lakh = 2499750000/ 49500 = 50500

Payment banks can accept a restricted deposit which is currently limited to _______ per customer account. A. Rs.1 lakh B. Rs.3 lakh C. Rs.2 lakh D. Rs.5 lakh E. None of the Above

Description : Payment banks can accept a restricted deposit which is currently limited to _______ per customer account. A. Rs.1 lakh B. Rs.3 lakh C. Rs.2 lakh D. Rs.5 lakh E. None of the Above

Last Answer : A. Rs.1 lakh Explanation: Payment banks can accept a restricted deposit which is currently limited to Rs. 1 lakh per customer account.

Following information is available of XYZ Limited for quarter ended June, 2013 Fixed cost Rs. 5,00,000 Variable cost Rs. 10 per unit Selling price Rs. 15 per unit Output level 1,50,000 units

Description : Following information is available of XYZ Limited for quarter ended June, 2013 Fixed cost Rs. 5,00,000 Variable cost Rs. 10 per unit Selling price Rs. 15 per unit Output level 1,50,000 units

Last Answer : (a) Rs. 2,50,000

The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs. 50,000 and Rs. 65,000. If taxed paid during the current year amounted to Rs. 70,000 then amount charge from Profit and Loss Account will be: (a) Rs. 55,000 (b) Rs. 85,000 (c) Rs. 45,000 (d) Rs. 1,85,000

Description : The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs. 50,000 and Rs. 65,000. If taxed paid during the current year amounted to Rs. 70,000 then amount charge ... a) Rs. 55,000 (b) Rs. 85,000 (c) Rs. 45,000 (d) Rs. 1,85,000

Last Answer : (b) Rs. 85,000

The monetary ceiling of amount for settlement through Lok Adalat is _________ A. 5 lakh B. 10 lakh C. 15 lakh D. 20 lakh E. None of the Above

Description : The monetary ceiling of amount for settlement through Lok Adalat is _________ A. 5 lakh B. 10 lakh C. 15 lakh D. 20 lakh E. None of the Above

Last Answer : D. 20 lakh Explanation: The monetary ceiling of amount for settlement through Lok Adalat is INR 20 Lakh

Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 15,000 equity shares of Rs. 10 each. How much was the flow of funds in the above transaction ? (A) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Last Answer : Answer: Rs. 30,000

The ratio of the incomes of A and B last year was 9 : 13. Ratio of their incomes of last year to this year is 9 : 10 and 13 : 15 respectively. The sum of their present incomes is Rs 50,000. What is the present income of B? A) Rs 32,000 B) Rs 24,000 C) Rs 20,000 D) Rs 30,000 E) None of these

Description : The ratio of the incomes of A and B last year was 9 : 13. Ratio of their incomes of last year to this year is 9 : 10 and 13 : 15 respectively. The sum of their present incomes is Rs 50,000. What is the present income of B? A) Rs 32,000 B) Rs 24,000 C) Rs 20,000 D) Rs 30,000 E) None of these

Last Answer : Answer: D ratio of the incomes of A and B last year was 9x : 13y Now given that ratio of the incomes of A and B last year was 9 : 13. So 9x/13y = 9/13 This gives x = y Total of incomes of A ... = 50,000 This gives x = 2,000 So present income of B = 15y = 15x = 15*2000 = 30,000

P started a business in 1990 by investing Rs.25,000. She invested Rs. 10,000 as additional amount in 1991 and her friend Q joined her with an amount of Rs.35,000. P invested another Rs. 10,000 in 1992 and R joined them with Rs. 35,000. At the end of these 3 years, they earned a profit of Rs. 150,000. Find Q's share? a) Rs.50,000 b) Rs.65,000 c) Rs.75,000 d) Rs.15,000

Description : P started a business in 1990 by investing Rs.25,000. She invested Rs. 10,000 as additional amount in 1991 and her friend Q joined her with an amount of Rs.35,000. P invested another Rs. 10,000 in 1992 and R joined them ... ,000. Find Q's share? a) Rs.50,000 b) Rs.65,000 c) Rs.75,000 d) Rs.15,000

Last Answer : Answer: A) P invested Rs.25,000 for 12 months, Rs.(25000 + 10000) for 12 months, , Rs.(25000 + 10000 + 10000) for 12 months. i.e., P invested Rs.25,000 for 12 months, Rs.35000 for 12 months Rs.45000 for 12 months. Q ... Q's share = Rs.(1,50,000 x 2 /(3+2+1)) = Rs.(1,50,000 x 2/6) = Rs.50,000

If the aggregate fair market value of prescribed movable property received by a taxpayer as gift during the year is Rs.1,50,000, tax will be charged on ______. a) Rs.1,00,000 b) Rs.50,000 c) Rs.1,50,000 d) Rs.0

Description : If the aggregate fair market value of prescribed movable property received by a taxpayer as gift during the year is Rs.1,50,000, tax will be charged on ______. a) Rs.1,00,000 b) Rs.50,000 c) Rs.1,50,000 d) Rs.0

Last Answer : c) Rs.1,50,000

From the information given below, calculate Debt service coverage Ratio– Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6,000, Debenture Redemption Fund Appropriation of Outstanding Debentures 10%. (A) 4•06 times (B) 5•06 times (C) 6•06 times (D) 7•06 times

Description : From the information given below, calculate Debt service coverage Ratio- Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6 ... . (A) 4 06 times (B) 5 06 times (C) 6 06 times (D) 7 06 times

Last Answer : Answer: 4•06 times

Mark the correct option relating to Insurance fee is a) The Value of insurance not exceeding Rs 200/- is Rs 10 b) The value above Rs 200/- for every additional Rs 100 is 6/- c) Both the above d) None of the above

Description : Mark the correct option relating to Insurance fee is a) The Value of insurance not exceeding Rs 200/- is Rs 10 b) The value above Rs 200/- for every additional Rs 100 is 6/- c) Both the above d) None of the above

Last Answer : c) Both the above

P,Q, R enter into a partnership.P initially invests Rs 54 lakh and withdraws Rs 18 lakhs after 4 years. Q initially Rs 72 lakh ans adds another Rs 18 lakhs after 6 years and R invests Rs 108 lakh and adds another Rs 18 lakh few years. At the end of 10 years profit Of R is equal to sum of profit of P and Q. Then for how many years did R invests Rs 126 lakh per annum A) 5 B) 7 C) 8 D) 11

Description : P,Q, R enter into a partnership.P initially invests Rs 54 lakh and withdraws Rs 18 lakhs after 4 years. Q initially Rs 72 lakh ans adds another Rs 18 lakhs after 6 years and R invests Rs 108 lakh and adds another ... Then for how many years did R invests Rs 126 lakh per annum A) 5 B) 7 C) 8 D) 11 

Last Answer : Answer: C) Ratio of their profit P, Q, R is 54*4+36*6:72*6+90*4:108*x+126*(10-x) =12:22:35 - 0.5x Profit of R=profit of P +profit of Q 35-0.5x=12+22 X=2 year The number of years for R invests Rs 126 lakh =10-2=8years

A company has to choose between two projects whose cash flows are as indicated below; Project 1: i. Investment – Rs. 15 Lakhs ii. Annual cost savings – Rs. 4 lakhs. iii. Bi-annual maintenance cost – Rs. 50,000/- iv. Reconditioning and overhaul during 5th year: 6 lakhs v. Life of the project – 8 years vi. Salvage value – Rs. 5 lakhs Project 2: vii. Investment – Rs. 14 Lakhs viii. Annual cost savings – Rs. 3.5 lakhs. ix. Annual Maintenance cost – Rs. 20,000/- x. Reconditioning and overhaul during 4th year: 5 lakhs xi. Life of the project – 8 years xii. Salvage Value- 2 lakhs Which project should the company choose? The annual discount rate is 12

Description :  A company has to choose between two projects whose cash flows are as indicated  below; Project 1:  i. Investment - Rs. 15 Lakhs ii. Annual cost savings - Rs. 4 lakhs. iii. Bi-annual ... years xii. Salvage Value- 2 lakhs Which project should the company choose? The annual discount rate is 12

Last Answer : Year Project 1 Project 2 Outgo Saving NPV Outgo Saving NPV 0 15.0 0 =-15.0 14.0 0 = -14 1 0 4.0 = (4 / (1+.12)1 = 3.571 0.2 3.5 = (3.3 / (1+.12)1 = 2.95 2 0.5 4.0 = (3.5 / (1+.12)2 = 2.79 0.2 3.5 ... (1+.12)8 = 3.43 0.2 5.5  (3.5+2) = (5.3 / (1+.12)8 = 2.14 NPV = + 2.301 @12% = + 0.15

Cost of fencing a circular plot at the rate of Rs.15 per metre is Rs.3, 300. What will be the cost of flooring the plot at the rate of Rs.100 per square metre? a) Rs.3, 85,000 b) Rs.4, 70,000 c) Rs.2, 25,000 d) Rs.3, 50,000 e) Rs.2, 95,000

Description : Cost of fencing a circular plot at the rate of Rs.15 per metre is Rs.3, 300. What will be the cost of flooring the plot at the rate of Rs.100 per square metre? a) Rs.3, 85,000 b) Rs.4, 70,000 c) Rs.2, 25,000 d) Rs.3, 50,000 e) Rs.2, 95,000

Last Answer : Perimeter of plot = 3300/15 = 220 meter 2πr = 220 2 × 22/7 × r = 220 r = 35 m. Area of plot = πr^2 = 22/7 × 35 × 35 = 3850 mt^2 Cost of flooring = 3850 × 100=Rs. 385000 Answer: a)