Account and Finance Questions Practice Question and Answer
8 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
1150 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: Which method comes under qualitative control?
1143 061b33389bcb1f45db0a6b70b
61b33389bcb1f45db0a6b70b- 1Open Market Activitiestrue
- 2Direct actionfalse
- 3Publicityfalse
- 4Moral persuasionfalse
- 52,3 and 4false
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Answer : 1. "Open Market Activities"
Q: The FRBMA was enacted in 2003, which set targets for the government to reduce fiscal deficits. What does FRBMA stand for?
1139 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 one of the following is the most appropriate reason for inequalities in income?
1136 06513d6c7cb11fc5036eb8684
6513d6c7cb11fc5036eb8684- 1Racial factorsfalse
- 2Lack of opportunitiestrue
- 3Inheritance from family environmentfalse
- 4Differences in abilityfalse
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Answer : 2. "Lack of opportunities"
Explanation :
In India, on the one hand, Per Capita Income is low and on the other hand, there is large inequality in the distribution of wealth and income, according to Human Development Reports. Lack of opportunity means that its most valuable assets its people is not being fully used. It is appropriate reason of income gap.
Q: Fiscal policy is not a tool
1131 061b32d5b8b0b930f5301c85f
61b32d5b8b0b930f5301c85f- 1public expenditurefalse
- 2bank ratefalse
- 3SLRfalse
- 4public debtfalse
- 52 and 3true
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Answer : 5. "2 and 3"
Q: Which of the following branch of the World Bank was formed in the year 1992 for quick financial action and innovation activities?
1130 061b766d37a5b3510e9c64397
61b766d37a5b3510e9c64397- 1IFCfalse
- 2IDFtrue
- 3MIGAfalse
- 4ICSIDfalse
- 5None of thesefalse
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Answer : 2. "IDF"
Q: NACH is a centralised system, launched with an aim to consolidate multiple ECS systems running across the country and provides a framework for the harmonization of standard & practices and removes local barriers/inhibitors. What is the meaning of "H" in NACH?
1128 062d673d30c053665b696e362
62d673d30c053665b696e362- 1Housetrue
- 2Homefalse
- 3Handlefalse
- 4Hostfalse
- 5Honestfalse
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Answer : 1. "House"
Q: Which of the following is deducted from NNP to arrive at NI?
1115 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