Description : Reserve bank of India is a/an _______. A. statutory corporation. B. company limited by guarantee. C. company limited by shares. D. unlimited company.
Last Answer : A. statutory corporation.
Description : What is Damodar Valley Corporation? (1) Statutory body (2) Municipal Corporation looking after Damodar Valley (3) A private enterprise located in Bihar (4) A non government organisation
Last Answer : (1) Statutory body Explanation: Damodar Valley Corporation (DVC), having its headquarters at Kolkata, is a statutory body created under the Damodar Valley Corporation Act, 1948. It operates ... operates both thermal power stations and hydel power stations under the Union Ministry of Power.
Description : The capital issues of public limited companies are subject to guidelines issued by– (A) Reserve Bank of India (B) Central Government (C) Central Bank of India (D) Securities & Exchange Board of India (SEBI)
Last Answer : Answer: Securities amp; Exchange Board of India (SEBI)
Description : Liability of a Company Secretary is– (A) Contractual only (B) Statutory only (C) Civil only (D) Both contractual and statutory
Last Answer : Answer: Both contractual and statutory
Description : A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting
Last Answer : Answer: Statutory Meeting
Description : Which of these must hold a Statutory Meeting ? (A) Public Limited Company (B) Private Company (C) Unlimited Company (D) All of these
Last Answer : Answer: Public Limited Company
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 : A company limited by shares has to call the statutory meeting within a period of not less than one month and not more than six months. This period is counted with reference to which one of ... date of actual receipt of certificate of incorporation (D) The date of actual commencement of business
Last Answer : Answer: The date at which the company is entitled to commence business
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
Description : Internal Auditor is appointed by the– (A) Management (B) Shareholders (C) Government (D) Statutory Auditor
Last Answer : Answer: Management
Description : Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises
Last Answer : d. Public or State Enterprises
Description : The most important advantage of centralization of office services is– (A) specialization (B) higher departmental loyalty (C) no delay in providing services (D) less burden of work
Last Answer : Answer: less burden of work
Description : The most recent form of retail distribution is– (A) Mail order business (B) Chain stores (C) Departmental stores (D) Sky shopping
Last Answer : Answer: Sky shopping
Description : The product range is widest in case of– (A) Chain store (B) Departmental store (C) Speciality shop (D) One price shop
Last Answer : Answer: Departmental store
Description : Which of the following apex body and regulators has asked banks to swap customer related information so that the frauds and defaults may be prevented in future? (A) Bombay Stock Exchange (BSE) (B) Indian Banks ... (IBA) (C) Securities Exchange Board of India (SEBI) (D) Reserve Bank of India (RBI)
Last Answer : Answer: Reserve Bank of India (RBI)
Description : Which, institution is known as the ‘Soft Loan Window’ of World Bank ? (A) I.F.C. (International Financial Corporation) (B) I.D.A. (International Development Association) (C) I.M.F. (International Monetary Fund) (D) Indian Development Forum
Last Answer : Answer: I.D.A. (International Development Association)
Description : A public corporation means _____. A. public company. B. government company. C. statutory corporation. D. department of union government
Last Answer : C. statutory corporation.
Description : A public corporation is set up– (A) By a Special Act of Parliament (B) By a special order of the Government (C) Under Indian Companies Act, 1956 (D) By none of the above
Last Answer : Answer: By a Special Act of Parliament
Description : A company forfeited 30 equity shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 and call-money of Rs. 4 per share. If these shares are reissued at Rs. 8 per share fully paid, the amount ... to capital reserve will be- (A) Rs. 300 (B) Rs. 60 (C) Rs. 90 (D) Rs. 30
Last Answer : Answer: Rs. 30
Description : The portion of share capital which can be called up only on the winding up of a company is known as– (A) Called up capital (B) Paid up capital (C) Authorised capital (D) Reserve capital
Last Answer : Answer: Reserve capital
Description : The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of ... will be- (A) Rs. 50,000 (B) Rs. 55,000 (C) Rs. 45,000 (D) Rs. 57,000
Last Answer : Answer: Rs. 55,000
Description : The monetary policy is India is formulated by - (1) Central Government (2) Industrial Financial Corporation of India (3) Reserve Bank of India (4) Industrial Development Bank of India
Last Answer : (3) Reserve Bank of India Explanation: Monetary policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy by exercising its control ... Bank of India (RBI). is so designed as to maintain the price stability in the economy.
Description : The monetary policy is India is formulated by (1) Central Government (2) Industrial Financial Corporation of India (3) Reserve Bank of India (4) Industrial Development Bank of India
Last Answer : Reserve Bank of India
Description : General Insurance Corporation of India was set up in– (A) 1956 (B) 1972 (C) 1980 (D) 2000
Last Answer : Answer: 1972
Description : Which one of the following is the most appropriate management control technique for timely completion of a project ? (A) Organisation chart (B) Management by Objectives (C) PERT (D) Span of control
Last Answer : Answer: PERT
Description : Which among the following is the societal obligation of accounting ? (A) To ascertain profit correctly (B) To maintain the records of the assets and liabilities of organisation (C) To establish effective organizational control (D) To be helpful in correct tax assessment
Last Answer : Answer: To be helpful in correct tax assessment
Description : “A body of persons elected or appointed to meet on an organised basis for the discussion and dealing of matters brought before it.” It is called– (A) Functional organisation (B) Formal organisation (C) Committee organisation (D) Informal organisation
Last Answer : Answer: Committee organisation
Description : Out of the following forms, which form of organisation is the oldest one ? (A) Line and staff organisation (B) Functional organisation (C) Committee organisation (D) Line organisation
Last Answer : Answer: Line organisation
Description : The organisation in which power of authority runs in straight line is called– (A) Line organization (B) Functional organisation (C) Committee organization (D) None of the above
Last Answer : Answer: Line organization
Description : ‘Self-help by mutual help’ is a feature of– (A) Public enterprise (B) Public corporation (C) Co-operative society (D) All of the above
Last Answer : Answer: Co-operative society
Description : Dividend can be paid generally out of– (A) share premium account (B) capital redemption reserve account (C) current year’s profits (D) All of these
Last Answer : Answer: current year’s profits
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 : What is Capital Redemption Reserve Account available for ? (A) Redemption of redeemable preference shares (B) Redemption of redeemable debentures (C) Reorganization of share capital (D) Issue of fully paid bonus shares
Last Answer : Answer: Issue of fully paid bonus shares
Description : How is profit prior to incorporation treated as ? (A) Revenue reserve (B) Secret reserve (C) Capital reserve (D) General reserve
Last Answer : Answer: Capital reserve
Description : Profit prior to incorporation is transferred to– (A) Capital reserve (B) General reserve (C) Profit and Loss Account (D) Trading Account
Description : X Limited forfeited Ram's 20 shares of Rs. 10 each on which Rs. 7 is called up. Ram had paid application and allotment money of Rs. 5 per share. Of these forfeited shares 15 shares were reissued to Hari as fully paid up ... to Capital Reserve account ? (A) Rs. 15 (B) Rs. 20 (C) Rs. 75 (D) Rs. 100
Last Answer : Answer: Rs. 15
Description : As per Schedule VI of the Companies’ Act, 1956, Forfeited Share Account will be– (A) Added to paid up capital (B) Deducted from called up capital (C) Added to capital reserve (D) Shown as a revenue reserve
Last Answer : Answer: Deducted from called up capital
Description : Net profit after tax of Rs. 2,00,000 is Rs. 4,00,000. Share capital is Rs. 8,00,000 and revenue reserve is Rs. 2,00,000. What is rate of return on equity ? (A) 40% (B) 50% (C) 60% (D) 75%
Last Answer : Answer: 40%
Description : Which of the following estimates National Income in India: A. Central Statistical Organisation B. National Income Committee C. Planning Commission D. Reserve bank of India
Last Answer : A. Central Statistical Organisation
Description : Appointment of a Company Secretary is made by– (A) Promoters (B) Board of Directors (C) Debenture holders (D) Government
Last Answer : Answer: Board of Directors
Description : Disinvestment of shares means– (A) To sale the shares of private company to public (B) To sale the shares of public company to the public (C) To sale the shares of Government company to the public (D) To sale of shares by holding company to its subsidiary company
Last Answer : Answer: To sale the shares of public company to the public
Description : The first Secretary of the company is appointed by– (A) Shareholders (B) Promoters (C) Government (D) Directors
Last Answer : Answer: Promoters
Description : A vacancy caused by the resignation of the auditor is filled only by the– (A) Board of Directors of the Company (B) Central Government (C) General Meeting of the shareholders (D) Managing Director of the company
Last Answer : Answer: General Meeting of the shareholders
Description : Members of a company may apply to which one among the following for relief under the Companies Act, 1956 in cases of oppression ? (A) Central Government (B) High Court of Judicature (C) National Company Law Tribunal (D) National Company Law Appellate Tribunal
Last Answer : Answer: National Company Law Tribunal
Description : The first directors of a company are appointed by– (A) Promoters (B) Government (C) Shareholders (D) Company Law Board
Description : National Seeds Corporation (NSC) is owned by? a. It is co – operative organisation b. Government of India c. National Institute of Rural Development (NIRD) d. ICAR
Last Answer : b. Government of India
Description : Warning signs that cause the auditor to question management integrity must be taken seriously and pursued vigorously. Which of the following may lead the auditor to suspect management ... with the controller for the purpose of discussing accounting practices that will maximize reported profits
Last Answer : The president and chief executive officer of the client corporation has held numerous meetings with the controller for the purpose of discussing accounting practices that will maximize reported profits
Description : The ratio of a bank's cash holdings to its total deposit liabilities is called the - (1) Variable Reserve Ratio (2) Cash Reserve Ratio (3) Statutory Liquidity Ratio (4) Minimum Reserve Ratio
Last Answer : (2) Cash Reserve Ratio Explanation: Cash Reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI. If the central bank decides to increase the CRR, the avail-able amount with the banks comes down. The RBI uses the CRR to drain out excessive money from the system.
Description : Which among the following is not the instrument of monetary policy A. Deficit financing B. Statutory liquidity Ratio C. Cash reserve ratio D. Open market operation
Last Answer : A. Deficit financing
Description : The ratio of a bank’s cash holdings to its total deposit liabilities is called the (1) Variable Reserve Ratio (2) Cash Reserve Ratio (3) Statutory Liquidity Ratio (4) Minimum Reserve Ratio
Last Answer : Cash Reserve Ratio