Account and Finance Questions Practice Question and Answer
8 Q: National Income include–
676 065116455cb11fc5036e3f5be
65116455cb11fc5036e3f5be- 1Financial help to earthquake victimsfalse
- 2Poket money of a childfalse
- 3Winning of a lottery Prizefalse
- 4Construction of a new Housetrue
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 4. "Construction of a new House"
Explanation :
When new house is given on rent the factor income will increase. Hence, it will be part of National Income. Rests are part of Transfer Payment.
Q: The Central Statistical Organisation (CSO) provides data under a new revised series in which the base year is taken as–
606 065115b82cb11fc5036e37488
65115b82cb11fc5036e37488- 11960-61false
- 21970-71false
- 32011-12true
- 41990-91false
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 3. "2011-12 "
Explanation :
The CSO provides data under a new revised series in which the base year is taken as 2011–12.
Q: Which of the following is one of the Open Market Operations by the Reserve Bank of India?
605 0647a1cf7411cb5478d8bc702
647a1cf7411cb5478d8bc702- 1Buying and selling of bonds issued by the Government in the open markettrue
- 2Only selling of bonds issued by the Government in the open marketfalse
- 3Only buying of bonds issued by the Government in the open marketfalse
- 4Buying and selling of bonds issued by commercial banks in the open marketfalse
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 1. "Buying and selling of bonds issued by the Government in the open market"
Q: A ‘Transfer Income’ is an–
601 06512a0e9af64a2609c621915
6512a0e9af64a2609c621915- 1Income which is not produced by any production processtrue
- 2Income taken away from one person and given over to anotherfalse
- 3Unearned incomefalse
- 4Earned incomefalse
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 1. "Income which is not produced by any production process"
Explanation :
Income which is not produced by any production process is called transfer income. It is generally money received by an individual or family from the state or other body, often the pension or unemployment benefit.
Q: A rising per Capita Income will indicate a better welfare if it is accompanied by –
557 0651292f156a7b2508cb4d87c
651292f156a7b2508cb4d87c- 1Unchanged Income distribution overall.false
- 2Changed Income distribution in favour of rich.false
- 3Changed Income distribution in favour of poor.true
- 4Changed Income distribution in favour of Industrial Labour.false
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 3. "Changed Income distribution in favour of poor."
Explanation :
A rising per Capita Income will indicate a better welfare if it is accompanied by changed Income distribution in favour of Poor.
Q: Income and consumption are–
549 06512a20310a18f5082ff294c
6512a20310a18f5082ff294c- 1Inversely Relatedfalse
- 2Directly Relatedtrue
- 3Partially Relatedfalse
- 4Unrelatedfalse
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 2. "Directly Related"
Explanation :
Consumption and income are directly or positively related. An increase in income results in increase in consumption and vice-versa.
Q: Other name of Net National Product at market price?
536 0651164d99c491b8125b988a8
651164d99c491b8125b988a8- 1National Incometrue
- 2Gross Domestic Productionfalse
- 3Personal Incomefalse
- 4Per Capital Incomefalse
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 1. "National Income "
Explanation :
NNPMP = GNPMP – depreciation
Q: Compared to rich the poors saving is–
529 06511655ccb11fc5036e3f981
6511655ccb11fc5036e3f981- 1A larger part of their incomefalse
- 2An equal part of their incomefalse
- 3A small part of their incometrue
- 4All of their incomesfalse
- Show AnswerHide Answer
- Workspace
- SingleChoice
Answer : 3. "A small part of their income"
Explanation :
A necessary level of consumption produces differences in income and saving. This implies that the poor household have lower saving rates because they cannot “afford to save” after buying the necessities.