Description : Fire Insurance is based on the principle of– (A) Utmost Good faith (B) Insurable Interest (C) Indemnity (D) Cooperation
Last Answer : Answer: Indemnity
Description : In ‘Life Insurance Contract’ the insurable interest is examined at the time of– (A) Entering the contract (B) Filing the claim (C) Both (A) and (B) (D) Never
Last Answer : Answer: Entering the contract
Description : Insurable interest must be present at the time of insurance proposal and payment of claims in– (A) Fire Insurance (B) Marine Insurance (C) Life Insurance (D) Motor Insurance
Last Answer : Answer: Fire Insurance
Description : Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange
Last Answer : Answer: National Stock Exchange
Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account
Last Answer : Answer: profit & loss account
Description : Profit prior to incorporation is transferred to– (A) Capital reserve (B) General reserve (C) Profit and Loss Account (D) Trading Account
Last Answer : Answer: Capital reserve
Description : Retain trading in government securities at select stock exchanges commercial in– (A) Jan. 2001 (B) Jan. 2002 (C) Jan. 2003 (D) Jan. 2004
Last Answer : Answer: Jan. 2003
Description : Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above
Last Answer : Answer: Balance Sheet only
Description : Which one of the following has replaced the Budla system in India ? (A) Rolling settlement (B) Trading in equity derivatives (C) Depository system (D) Online trading
Last Answer : Answer: Rolling settlement
Description : In order to reduce the risk of heavy insurance the insurer passes on some business to the other company, it is called– (A) Reinsurance (B) Double Insurance (C) Joint Insurance Policy (D) Separate Insurance
Last Answer : Answer: Reinsurance
Description : Is Hillary's campaign a sinking ship?
Last Answer : answer:Not necessarily. But the waters are not a smooth cruise to November, and there are some mines ahead of her own making. And, Bernie provides an alternative that, while the policy issues are ... not at all in question. He compares favorably on integrity to everyone on either side of the aisle.
Description : Are rats really the first to leave a sinking ship?
Last Answer : Animals have pretty good instincts, they got to high ground well before the tsunamis hit a few years ago, so probably yes.
Description : How do you survive a sinking ship?
Last Answer : Get a life jacket on, or find something good to float on, then get some booze, drink it until you’re totally bombed, then jump in or on your float when the ship is half sunk.
Description : If you were on a sinking ship or in a burning building, to what extent would you help others survive?
Last Answer : answer:I’ve no idea. I’ll tell you if I ever survive a sinking ship or burning building.
Description : How is a person in jail like a sinking ship? -Riddles
Last Answer : Both want to be bailed out.
Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks
Last Answer : Answer: The RBI manages longterm liquidity through rapos
Description : The Open Market Operations [OMOs] is an important tool of– (A) Forex management (B) Liquidity management (C) Inventory management (D) Marketing management
Last Answer : Answer: Liquidity management
Description : Which one of the following is not an objective of the introduction of Primary Dealer System ? (A) To encourage a voluntary holding of govt. securities amongst a wider investor base (B) To ... (C) To strengthen the private equity infrastructure (D) To strengthen the govt. securities infrastructure
Last Answer : Answer: To strengthen the private equity infrastructure
Description : The basic aim of Securities and Exchange Board of India (SEBI) is to- (A) Develop an effective and efficient monitoring and control system for the Indian Capital Market (B) To help Bombay Stock Exchange ... To help National Stock Exchange of India Ltd. only (D) To help OTC Exchange of India only
Last Answer : Answer: Develop an effective and efficient monitoring and control system for the Indian Capital Market
Description : Market segmentation means– (A) Grouping of buyers (B) Grouping of sellers (C) Grouping of middle men (D) Grouping of producers
Last Answer : Answer: Grouping of buyers
Description : At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher
Last Answer : Answer: At cost price or market price whichever is lower
Description : The liability of the shareholders of a public limited company is limited to the extent of– (A) Par value of the share (B) Paid up value of the shares (C) Market price of the shares (D) Intrinsic value of the shares
Last Answer : Answer: Paid up value of the shares
Description : What is Open market operation?
Last Answer : Open market operations imply the purchase and sale of government securities by the Central Bank in the open market.
Description : What is Future Market?
Last Answer : An organized market for buying and selling future contracts
Description : Which is the technique designed to create an artificial market to benefit a businessman?
Last Answer : Rigging the market
Description : What is Stock Market?
Last Answer : An organized market for securities. Also called a ‘stock exchange’ The tangible resources of a person or organization, including cash, machinery, land, building, raw material etc. are called capital
Description : Capital employed is Rs.50,000 Trading Profit amounted Rs.12,200, Rs.15,000 and Rs.2000 loss for 2016, 2017 and 2018 respectively. Rate of interest is 8% and the rate of risk is 2% Remuneration from alternative employment of the ... A Rs.8,000 B Rs.8,800 C Rs.8,850 D Rs.9,500 ANS: Rs.8,850
Last Answer : A
Description : Goods worth Rs. 2,000 were distributed to employees free of charge. The account to be debited is– (A) Profit and Loss A/c (B) Advertisement A/c (C) Labour Welfare A/c (D) Goods A/c
Last Answer : Answer: Profit and Loss A/c
Description : Balance of Debenture Redemption Fund Account is transferred to– (A) Capital Reserve A/c (B) Profit and Loss A/c (C) General Reserve A/c (D) None of these
Last Answer : Answer: General Reserve A/c
Description : When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000
Last Answer : Answer: Rs. 3,50,000
Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet
Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet
Description : Which of the following is affected by treatment of an accrued item in accounting ? (A) Profit and Loss A/c only (B) Profit and Loss Appropriation A/c (C) Balance Sheet only (D) Profit and Loss A/c and Balance Sheet
Last Answer : Answer: Profit and Loss A/c and Balance Sheet
Description : Dissolution of Partnership takes place when– (A) A partner misbehaves (B) A partner becomes of unsound mind (C) Business is running at a loss (D) A partner dies
Last Answer : Answer: A partner dies
Description : Under vouching, checking is done of– (A) Journal and Ledger (B) Profit and Loss Account (C) Balance Sheet (D) All of the above
Last Answer : Answer: All of the above
Description : Share premium account can be used for– (A) Paying tax liability (B) Meeting the cost of issue of shares or debentures (C) Paying Dividend on shares (D) Meeting the loss on sale of old asset
Last Answer : Answer: Meeting the cost of issue of shares or debentures
Description : A large amount spent on special advertisement is– (A) Capital Expenditure (B) Revenue Expenditure (C) Revenue Loss (D) Deferred Revenue Expenditure
Last Answer : Answer: Deferred Revenue Expenditure
Description : I heard that the FDIC last year has raised the insurable limit on deposits from $100,000 to $250,000 is it true?
Last Answer : answer:Lend me $250,000 and I’ll get back to you on that one. :D It looks like is $250,000 now, at least until 2013? Several sources say it’s permanent though.” Check Please. :D
Description : What can be done to help those suffering from ship accident? .
Last Answer : Resort to the regulations vigorously enforced when Burma was a colonial state.
Description : A shipmet with an accident at 30°E and 35°N. Where was the ship was sailing
Last Answer : Mediterranean Sea
Description : The most significant impact of volcanic eruption has been felt in the form of : (A) change in weather (B) sinking of islands (C) loss of vegetation (D) extinction of animals
Last Answer : Answer: A Eruptions are unstoppable, and a very large one is potentially long lasting (several days of intense explosive output from the volcano). Further, the effects are ... potential feedbacks with global environmental cycles. Some currently unanticipated consequences will surely be found.
Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio
Last Answer : Answer: Old profit sharing ratio
Description : When an incoming partner purchases his share from any one of the existing partners, then- (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent ... ) change in total assets of the firm will depend upon the new profit sharing ratio of the partners
Last Answer : Answer: total assets of the firm do not change
Description : On the admission of a partner, fictitious assets are– (A) Transferred to Revaluation Account (B) Transferred to Capital Account (C) Transferred to Reserves (D) Shown in the new Balance Sheet
Last Answer : Answer: Transferred to Revaluation Account
Description : The first auditor of a company appointed, holds office– (A) For a period of one year (B) For that period till new auditor is appointed (C) Till the conclusion of first Annual General Meeting (D) Till the holding of statutory meeting of the company
Last Answer : Answer: Till the conclusion of first Annual General Meeting
Description : Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?
Last Answer : I worked in a grocery store that was a Franchise and that company charges a fee to have the ideal placement on the shelves, or near the cash register , knowing that some people (or most) buy on impulse. That is why adverting of a product with colorful and eye catching themes becomes very important .
Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250
Last Answer : Answer: Rs. 12,500
Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility
Last Answer : Answer: authority level principle
Description : Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian
Last Answer : Answer: thorough subordinate training scheme exists
Description : One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members
Last Answer : Answer: there is possibility of disunity of command
Description : The tool used by auditor to monitor and control the progress of audit work is– (A) Engagement diary (B) Audit programme (C) Audit working papers (D) Audit notes.
Last Answer : Answer: Audit programme