Consider the following statements in respect of the “Duty Free Import Authorization Scheme”.

Consider the following statements in respect of the “Duty Free Import Authorization Scheme”.
by

1 Answer

Answer :

The scheme offers the facility to import the required inputs before exports.
by
selected by

Related questions

The scheme allows the transfer of scrip once the export obligation is complete. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : The scheme allows the transfer of scrip once the export obligation is complete. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Which one of the following statements is false ? (A) A ‘Demat Share’ is held by the depository on behalf of the investor whereas a ‘Physical Share’ is held by the investor himself (B) There is no stamp duty on the transfer of ‘Demat Shares’ from one account to another (C) The ‘Demat Share’ does not have a folio number, distinctive number or certificate number like a ‘Physical Share’ (D) The ‘Demat Share’ cannot be converted into a ‘Physical Share’

Description : Which one of the following statements is false ? (A) A Demat Share' is held by the depository on behalf of the investor whereas a Physical Share' is held by the investor himself (B) There is no ... number like a Physical Share' (D) The Demat Share' cannot be converted into a Physical Share'

Last Answer : Answer: The ‘Demat Share’ cannot be converted into a ‘Physical Share’

Consider the following statements–

Description : Consider the following statements–

Last Answer : Managerial grid is an organizational concept that brings together teams of individuals from specialized jobs and departments for achieving specific results in defined periods of time.

Consider the following statements–

Description : Consider the following statements–

Last Answer : Authority in an organization is the formal or institutional right to command stemming from official delegation of position.

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

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

Which one of the following is not correct in respect of the Theory X? (A) It emphasizes that most average human beings avoid to be led, want to lead (B) According to the theory X, the Managers tend to be autocratic (C) The theory X assumes that most human beings must be directly controlled in order to achieve organizational goals (D) The theory X assumes that most individuals have little ambition and want security

Description : Which one of the following is not correct in respect of the Theory X? (A) It emphasizes that most average human beings avoid to be led, want to lead (B) According to the theory X ... achieve organizational goals (D) The theory X assumes that most individuals have little ambition and want security

Last Answer : Answer: It emphasizes that most average human beings avoid to be led, want to lead

Which statement is not true in respect of a Balance Sheet ? (A) It is an account (B) It is prepared every month (C) It is prepared to check the mathematical accuracy (D) All the above

Description : Which statement is not true in respect of a Balance Sheet ? (A) It is an account (B) It is prepared every month (C) It is prepared to check the mathematical accuracy (D) All the above

Last Answer : Answer: All the above

Consider the following categories of documentary evidence from the point of view of the degree of their reliability.

Description : Consider the following categories of documentary evidence from the point of view of the degree of their reliability.

Last Answer : Documentary evidence originating from and held by the entity.

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 rapos (C) The RBI manages longterm liquidity through Open Market Operations (D) Open Market Operations do not alter the total stock of govt. securities but change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

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

While auditing the financial statements of non-corporate enterprises, the auditor’s duties and scope of work would be governed by– (A) the statute passed by the Parliament (B) the Companies Act, 1956, and the client concerned jointly (C) the agreement with his client. (D) the provisions of the Income Tax Act, 1961

Description : While auditing the financial statements of non-corporate enterprises, the auditor's duties and scope of work would be governed by- (A) the statute passed by the Parliament (B) the Companies Act, 1956, and ... (C) the agreement with his client. (D) the provisions of the Income Tax Act, 1961

Last Answer : Answer: the agreement with his client.

With regard to the rate of return on investment (ROI), which one of the following statements is not valid ? (A) It is an overall indicator of the profitability of an enterprise (B) It is a triangular relationship in the sense that ROI = Profit margin ×Asset turnover (C) It is a superior measure compared to the cash flow generated per share (D) It was first developed by Dupont, USA

Description : With regard to the rate of return on investment (ROI), which one of the following statements is not valid ? (A) It is an overall indicator of the profitability of an enterprise (B) It is a ... superior measure compared to the cash flow generated per share (D) It was first developed by Dupont, USA

Last Answer : Answer: It is a superior measure compared to the cash flow generated per share

The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : The matrix management model is based on a matrix of values between 0 and 9 for two primary variables. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

Description : Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis ... Financial statements should be prepared according to both the accrual and cash basis of accounting

Last Answer : Answer: Financial statements should be prepared according to the accrual basis of accounting only

Which one of the following statements is not correct ? (A) Business firms combine to avoid wasteful competition (B) Business combination is possible only among joint stock companies (C) Business firms may combine to take advantage of patent rights of individual firms (D) During economic depression, small firms are absorbed by financially sound large firms

Description : Which one of the following statements is not correct ? (A) Business firms combine to avoid wasteful competition (B) Business combination is possible only among joint stock companies (C) Business ... firms (D) During economic depression, small firms are absorbed by financially sound large firms

Last Answer : Answer: Business combination is possible only among joint stock companies

Legitimate power is the right to manage derived from delegation based on ownership or property rights. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Description : Legitimate power is the right to manage derived from delegation based on ownership or property rights. Which of the statements given above is/are correct ? (A) 1 only (B) 2 only (C) Both 1 and 2 (D) Neither 1 nor 2

Last Answer : Answer: Both 1 and 2

Which one of the following statements is correct ? When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would (A) improve liquidity (B) reduce liquidity (C) have no effect on liquidity (D) improve financial position

Description : Which one of the following statements is correct ? When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would (A) improve liquidity (B) reduce liquidity (C) have no effect on liquidity (D) improve financial position

Last Answer : Answer: have no effect on liquidity

Which one of the following statements is correct ? (A) Audit of an educational institution is compulsory if it is run by a charitable trust (B) A club is treated as a commercial establishment (C) The accounts of a charitable trust can be audited by any person who belongs to accountancy profession (D) Audit of a charitable trust is not compulsory under law

Description : Which one of the following statements is correct ? (A) Audit of an educational institution is compulsory if it is run by a charitable trust (B) A club is treated as a commercial establishment ( ... who belongs to accountancy profession (D) Audit of a charitable trust is not compulsory under law

Last Answer : Answer: Audit of an educational institution is compulsory if it is run by a charitable trust Free

Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Description : Which one of the following statements is correct ? (A) Internal audit and Management audit are the same (B) Internal audit and statutory audit are the same (C) Internal audit is compulsory in all cases (D) Statutory audit of company accounts is compulsory

Last Answer : Answer: Statutory audit of company accounts is compulsory

Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Description : Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Last Answer : (3) Determination of import duty uniformly Explanation: Non-tariff barriers to trade include import quotas, special licenses, unreasonable standards for the quality of goods, bureaucratic delays at customs, ... duty uniformly is comes under the sovereign duty of a nation. It is internal development.

Excise duty is levied on - (1) sale of goods (2) production of goods (3) import of goods (4) export of goods

Description : Excise duty is levied on - (1) sale of goods (2) production of goods (3) import of goods (4) export of goods

Last Answer : (2) production of goods Explanation: Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and ... "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty.

Waste or refuse arising out of manufacturing activity of output cleared for home consumption shall be charged to import duty as _____. A waste or refuse B output C waste or refuse or output D Input

Description : Waste or refuse arising out of manufacturing activity of output cleared for home consumption shall be charged to import duty as _____. A waste or refuse B output C waste or refuse or output D Input

Last Answer : Ans :output

Waste or refuse arising out of manufacturing activity of output exported shall be charged to import duty as _____ if such waste or refuse is cleared for home consumption. A waste or refuse B imported goods C waste or refuse or output D Scrap

Description : Waste or refuse arising out of manufacturing activity of output exported shall be charged to import duty as _____ if such waste or refuse is cleared for home consumption. A waste or refuse B imported goods C waste or refuse or output D Scrap

Last Answer : waste or refuse

Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies

Description : Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies

Last Answer :  (d) Imposition of higher levies

Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies

Description : Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies

Last Answer : (d) Reduction in levies

Which among the following is not a non-customs duty obstacle in the world trade ? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Description : Which among the following is not a non-customs duty obstacle in the world trade ? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Last Answer : Determination of import duty uniformly

Which of the following taxes is such which does not cause rise in price ? (1) Import duty (2) Income tax (3) Octoroi (4) Sales tax

Description : Which of the following taxes is such which does not cause rise in price ? (1) Import duty (2) Income tax (3) Octoroi (4) Sales tax 

Last Answer :  Income tax

Excise duty is levied on (1) sale of goods (2) production of goods (3) import of goods (4) export of goods

Description : Excise duty is levied on (1) sale of goods (2) production of goods (3) import of goods (4) export of goods 

Last Answer : production of goods

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

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

Application of Theory ‘X’ implies practising of– (A) Free leadership (B) Democratic leadership (C) Autocratic leadership (D) None of the above

Description : Application of Theory ‘X’ implies practising of– (A) Free leadership (B) Democratic leadership (C) Autocratic leadership (D) None of the above

Last Answer : Answer: Autocratic leadership

What is F.A.S.(Free Along Side)?

Description : What is F.A.S.(Free Along Side)?

Last Answer : This includes all expenses like packing charges, delivery of goods to the side of the ship etc. But it doesn’t include charges for putting them on board.

What is F.O.B (Free On Board)?

Description : What is F.O.B (Free On Board)?

Last Answer : This includes cost of the goods and all other expenses to be incurred in placing the goods on board the ship.

What is F.O.R. (Free On Rail)?

Description : What is F.O.R. (Free On Rail)?

Last Answer : This indicates that the price covers the cost of goods and all other expenses till the goods are put into the railway wagon.

What is Free Trade?

Description : What is Free Trade?

Last Answer : The unrestricted international trade either with no customs duties or with customs duties which are used to creat revenue.

A principal purpose of a letter of representation from management is to a. Remind management of its primary responsibility for financial statements. b. Serve as an introduction to company personnel and an authorization to examine the records. c. Discharge the auditor from legal liability for his examination. d. Confirm in writing management's approval of limitations on the scope of the audit

Description : A principal purpose of a letter of representation from management is to a. Remind management of its primary responsibility for financial statements. b. Serve as an introduction to company personnel and ... . d. Confirm in writing management's approval of limitations on the scope of the audit

Last Answer : Remind management of its primary responsibility for financial statements.

A principal purpose of a letter of representation from management is to a. Serve as an introduction to company personnel and an authorization to examine the records. b. Discharge the auditor from legal liability for his examination. c. Confirm in writing management's approval of limitations on the scope of the audit. d. Remind management of its primary responsibility for financial statements.

Description : A principal purpose of a letter of representation from management is to a. Serve as an introduction to company personnel and an authorization to examine the records. b. Discharge the auditor ... the scope of the audit. d. Remind management of its primary responsibility for financial statements.

Last Answer : Remind management of its primary responsibility for financial statements.

A professional accountant has a professional duty or right disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to the Bureau of Internal Revenue any fraudulent scheme committed by the client on payment of income tax. c. To comply with the quality review of a member body or professional body d. To respond to an inquiry or investigation by a member body or regulatory body

Description : A professional accountant has a professional duty or right disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to the Bureau of Internal Revenue any fraudulent scheme committed by the client on payment of income tax

A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To disclose to BIR fraudulent scheme committed by the client on payment of income tax. b. To comply with technical standards and ethics requirements. c. To comply with the quality review of amember body or professional bodyd. To respond to an inquiry or investigationby a member body or regulatory body

Description : A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To disclose to BIR fraudulent scheme committed by the client on payment ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to BIR fraudulent scheme committed by the client on payment of income tax

A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to BIR fraudulent scheme committed by the client on payment of income tax. c. To comply with the quality review of a member body or professional body d. To respond to an inquiry or investigation by a member body or regulatory body

Description : A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to BIR fraudulent scheme committed by the client on payment of income tax.

Consider the following statements with respect to pollution. A. To control air pollution problems, by the end of 2002 all the buses of Delhi were conv

Description : Consider the following statements with respect to pollution. A. To control air pollution problems, by the end of 2002 all the buses of Delhi were conv

Last Answer : Consider the following statements with respect to pollution. A. To control air pollution problems, by the ... C. b alone correct D. c alone correct

Consider the following statements in respect of critical flow in a wide rectangular channel: 1. The specific energy is minimum for a given discharge. 2. The discharge is maximum for a given specific energy 3. The specific force is minimum for a given discharge. 4. The Froude number is equal to unity. Which of these statements are correct? (a) 1 , 2 & 3 only (b) 1, 2, 3 & 4 (c) 1, 2 & 4 only (d) 2, 3 & 4 only

Description : Consider the following statements in respect of critical flow in a wide rectangular channel: 1. The specific energy is minimum for a given discharge. 2. The discharge is maximum for a given specific energy 3. The specific force is minimum for a ... b) 1, 2, 3 & 4 (c) 1, 2 & 4 only (d) 2, 3 & 4 only

Last Answer : (b) 1, 2, 3 & 4

Consider the following statements in respect of steady laminar flow through a circular pipe: 1. Shear stress is zero on the central axis of the pipe 2. Discharge varies directly with the viscosity of the fluid 3. Velocity is maximum at the centre of the pipe. 4. Hydraulic gradient varies as the square of the mean velocity of flow. Which of these statements are correct? (a) 1, 2 , 3 & 4 (b) 1 & 3 only (c) 2 & 4 only (d)3 & 4 only

Description : Consider the following statements in respect of steady laminar flow through a circular pipe: 1. Shear stress is zero on the central axis of the pipe 2. Discharge varies directly with the viscosity of the fluid 3. Velocity is maximum at the ... 2 , 3 & 4 (b) 1 & 3 only (c) 2 & 4 only (d)3 & 4 only

Last Answer : (b) 1 & 3 only

Consider the following statements: 1. Standard penetration test is commonly used for cohesionless soils. 2. Standard penetration test results in respect of a cohesionless soil are correlated to its density index and friction angle. 3. Use of H-value not corrected for overburden pressure leads to highly conservative design of footings at shallow depths. Which of these statements are correct? (a) 1, 2 & 3 (b) 1 & 2 only (c) 2 & 3 only (d) 1 & 3 only

Description : Consider the following statements: 1. Standard penetration test is commonly used for cohesionless soils. 2. Standard penetration test results in respect of a cohesionless soil are correlated to its density index and friction angle. 3. Use of H- ... 2 & 3 (b) 1 & 2 only (c) 2 & 3 only (d) 1 & 3 only

Last Answer : (a) 1, 2 & 3

Consider the following statements : 1. There is no flow across a streamline 2. Streamline spacing varies directly with velocity at the section 3. Streamlines do not cross 4. In steady flow, streamline pattern does not change with time Which of these statements in respect of stream flow pattern are correct? (a) 1, 2, 3 and 4 (b) 1 and 2 only (c) 1, 3 and 4 only (d) 2, 3 and 4 only

Description : Consider the following statements : 1. There is no flow across a streamline 2. Streamline spacing varies directly with velocity at the section 3. Streamlines do not cross 4. In steady flow, streamline pattern does not change with ... 4 (b) 1 and 2 only (c) 1, 3 and 4 only (d) 2, 3 and 4 only

Last Answer : (c) 1, 3 and 4 only

Consider the following statements in respect of design of web and flange as splices: 1. Flange splice shall be designed for actual BM at the section. 2. Flange splice shall be designed to resist the actual shear at the section. 3. Web splice shall be designed to resist the actual shear at the section 4. Web splice shall be designed for actual BM. Which of these statements are correct? (a) 1 and 3 (b) 2 and 3 (c) 3 and 4 (d)1 and 4

Description : Consider the following statements in respect of design of web and flange as splices: 1. Flange splice shall be designed for actual BM at the section. 2. Flange splice shall be designed to resist the actual shear at the section. 3. Web ... are correct? (a) 1 and 3 (b) 2 and 3 (c) 3 and 4 (d)1 and 4

Last Answer : (a) 1 and 3

Consider the following statements with respect to a high Q, series RLC circuit under resonance

Description : Consider the following statements with respect to a high Q, series RLC circuit under resonance 1. The voltage across R is equal to the applied voltage 2. The voltage across L and C are zero 3 ... in magnitude 4. The voltage accross L and C are maximum Which of these statements are correct?

Last Answer : Consider the following statements with respect to a high Q, series RLC circuit under resonance 1. The voltage across R is equal to the applied voltage 2. The voltage across L and C are zero 3. ... The voltage accross L and C are maximum Which of these statements are correct? 1,3 and 4

Consider the following statements with respect to Discrete Fourier Transform (DFT) :

Description : Consider the following statements with respect to Discrete Fourier Transform (DFT) : 1. It is obtained by performing a sampling operation in the time domain. 2. It transforms a finite duration sequence into a discrete frequency spectrum. 3 ... (a) 1 and 2 only (b) 2 and 3 only (c) 1 only (d) 3 only

Last Answer : Consider the following statements with respect to Discrete Fourier Transform (DFT) : 1. It is obtained by performing a sampling operation in the time domain. 2. It transforms a finite duration sequence into a discrete frequency spectrum. ... (a) 1 and 2 only (b) 2 and 3 only (c) 1 only (d) 3 only

Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

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 .

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 one of the following represents the figure of gross profit for the year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

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

The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

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