Account and Finance Questions Practice Question and Answer
8 Q: Which is the first bank started entirely with Indian capital?
1281 061b750227a5b3510e9c5e540
61b750227a5b3510e9c5e540- 1Bank of Indiafalse
- 2Punjab National Banktrue
- 3Bank of Barodafalse
- 4Bank of Maharashtrafalse
- 5None of thesefalse
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Answer : 2. "Punjab National Bank"
Q: Goods whose demand is proportional to price are called
1280 062cd647031b6d201552ccc54
62cd647031b6d201552ccc54- 1normal goodsfalse
- 2exclusive goodsfalse
- 3inferior goodsfalse
- 4Veblen goodstrue
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Answer : 4. "Veblen goods"
Q: The FRBMA was enacted in 2003, which set targets for the government to reduce fiscal deficits. What does FRBMA stand for?
1274 063072d53e864816d0050c2bb
63072d53e864816d0050c2bb- 1Fiscal Relations and Budget Maintenance Actfalse
- 2Financial Relations and Budget Management Actfalse
- 3Financial Responsibility and Budget Maintenance Actfalse
- 4Fiscal Responsibility and Budget Management Acttrue
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Answer : 4. "Fiscal Responsibility and Budget Management Act"
Q: Which of the following is deducted from NNP to arrive at NI?
1272 06513d7d37335765064719e55
6513d7d37335765064719e55- 1Indirect taxtrue
- 2Capital consumption allowancefalse
- 3Subsidyfalse
- 4Interestfalse
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Answer : 1. "Indirect tax"
Explanation :
The difference between Gross National Product and Depreciation is called Net National Product (NNP). NNP at factor cost is the net output evaluated at factor prices. It includes income earned by factor of production through participation in the production process, such as wages and salaries, rents, profits etc.
It is also called National Income. NNPFC = NNPmp – Indirect taxes
+ Subsidies = National Income. But now NNPMP is National Income
Q: What is the upper limit of annual household income for microfinance borrowers in rural areas?
1269 06441220732185cce374b418d
6441220732185cce374b418d- 1₹1.5 lakhfalse
- 2₹1 lakhfalse
- 3₹1.25 lakhtrue
- 4₹2 lakhfalse
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Answer : 3. "₹1.25 lakh"
Q: The theory of distribution relates to which of the following?
1269 0638f0de39ebad6607ba13684
638f0de39ebad6607ba13684- 1The distribution of assetsfalse
- 2The distribution of incomefalse
- 3The distribution of factor paymentsfalse
- 4Equality in the distribution of the income and wealthtrue
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Answer : 4. "Equality in the distribution of the income and wealth"
Q: Which of the following documents is/are considered as officially valid document to satisfy KYC norms for opening a Bank account?
A. Passport
B. P A N
C. Aadhar number issued by Unique Identification Authority of India
1266 061d84b28498f632d55002414
61d84b28498f632d55002414A. Passport
B. P A N
C. Aadhar number issued by Unique Identification Authority of India
- 1Only (A)false
- 2Only (B)false
- 3Only (A) and (B)false
- 4All (A), (B) and (C)true
- 5Only (B) and (C)false
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Answer : 4. "All (A), (B) and (C) "
Q: Fiscal policy is not a tool
1265 061b32d5b8b0b930f5301c85f
61b32d5b8b0b930f5301c85f- 1public expenditurefalse
- 2bank ratefalse
- 3SLRfalse
- 4public debtfalse
- 52 and 3true
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