Account and Finance Practice Question and Answer
8 Q: When was the first Savings Bank established in Hamburg?
871 061b334688b0b930f5301d8c1
61b334688b0b930f5301d8c1- 11760false
- 21765true
- 31770false
- 41775false
- 5None of thesefalse
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Answer : 2. "1765"
Q: ‘Functional Finance’ is accociated with:
870 060af7b7bd752621d4fa2f5c7
60af7b7bd752621d4fa2f5c7- 1Adamsfalse
- 2Abba ‘P’ Lernertrue
- 3Adolph Wognerfalse
- 4Adam Smithfalse
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Answer : 2. "Abba ‘P’ Lerner "
Q: Per Capita Income is equal to–
864 06513d63b10a18f508203e074
6513d63b10a18f508203e074- 1National Income/Total population of the countrytrue
- 2National Income + Populationfalse
- 3National Income - Populationfalse
- 4National Income x Populationfalse
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Answer : 1. "National Income/Total population of the country "
Explanation :
The average income of the people of a country in a particular year is called Per Capita Income for that year. So, it is National Income divided by population.
Per Capita Income
= National Income/Total population of the country
Though Per Capita Income is more reliable than GNP for many particular purpose.
Q: ____________ is the official minimum rate at which the Central Bank of a country re-discounts the approved bills, held by commercial banks.
862 0610a536ba064c176185ea0d1
610a536ba064c176185ea0d1- 1Prime Lending Ratefalse
- 2Reverse Repo Ratefalse
- 3Repo Ratefalse
- 4Bank ratetrue
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Answer : 4. "Bank rate"
Q: Which one of the following statements is true in contrast to the General Budget?
854 061b75e407fd9195ddf2d774e
61b75e407fd9195ddf2d774e- 1It is first presented in the Upper House.false
- 2It is first introduced in the Lok Sabha.true
- 3It can be introduced in either House which is in immediate session.false
- 4It is presented in a joint session of Parliament.false
- 5None of thesefalse
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Answer : 2. "It is first introduced in the Lok Sabha."
Q: Which of the following is deducted from NNP to arrive at NI?
851 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: An effective way to control inflationary pressures is
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61b32f568b0b930f5301ceb2- 1increase in taxationfalse
- 2reduction in government expenditurefalse
- 3Increase in public lifefalse
- 4Increase in Repo Ratefalse
- 5All thesetrue
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Answer : 5. "All these"
Q: Which method comes under qualitative control?
834 061b33389bcb1f45db0a6b70b
61b33389bcb1f45db0a6b70b- 1Open Market Activitiestrue
- 2Direct actionfalse
- 3Publicityfalse
- 4Moral persuasionfalse
- 52,3 and 4false
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