Explore topic-wise InterviewSolutions in Current Affairs.

All accounts relating to tangible and intangible properties and possessions are called real accounts. In case of real accounts, the rule is debit what comes in and credit what goes out.

A banquet is a meal that has a menu pre-selected by the client for all the guests attending the event. (Held at a private or restricted venue with the ambience, seating plan, all according to the liking of the host.)

Function form/ Function sheet/Banquet Event Order

Ledger is known as principal book of accounts. It is a book which contains all sets of accounts, namely, personal, real and nominal accounts.

a) Psychological law of consumption: It state that as income in an economy increases consumption also increases but less than increase in income. 

b) Ex-ante Investment:- Ex-ante Investment refers to the planned or intended investment during a particular period of time. It is planned on the basis of future expectations. So it is imaginary (intended), in which a firm assumes the level of investment on its own. 

c) Ex-post Investment:- Ex-post Investment refers to the actual level of investment during a particular period of time. It signifies the existing investment of a particular time.

d) Involuntary Unemployment refers to a situation in which people are ready to work at prevailing wage rate, but do not find work. e) Full Employment refers to a situation in which all the persons in the economy those who wish to work at prevailing wage rate, are getting the work. It means there is no involuntary unemployment

Room service door knob card

Trial balance is a statement containing the debit and credit balances of all ledger accounts on a particular date. It is arranged in the form of debit and credit columns placed side by side and prepared with the object of checking the arithmetical accuracy of entries made in the books of accounts and to facilitate preparation of financial statements.

Consumption Function: - Consumption Function shows functional relationship between total consumption and total income.

C = f (Y)

Where, C = Consumption; Y= Level of income

Linear consumption function: - If the consumption function is given on the basis of constant marginal propensity to consume, is called linear consumption.

C = C + bY

Where, C = Consumption; C = Autonomous consumption / minimum level of consumption; b = Marginal propensity to consume; Y= Level of income.

1) In room dining 

2) Service in-situ

Aboyeur is the person who announces the order in the kitchen( Announcer/ Barker)

Gross domestic product (GDP) refers to the money value of all the final goods and services produced with in domestic territory of a country during a financial year inclusive of consumption of fixed capital or depreciation.

Welfare means sense of material well being among the people. This depends upon greater availability of goods and services. So it may be concluded that higher level of GDP is an index of greater well being of people. But this generalisation is not correct due to some limitations.

Limitations of GDP as a measure of economic welfare-

i) Distribution of GDP- If with increase in GDP inequality of income increase, poor become poorer while rich become richer. This may lead to decline in welfare even though GDP has increased.

ii) Non-monetary transactions- GDP remains underestimated as non-monetary transactions like services of housewife, barter exchanges, enjoyment from hobbies like gardening, painting etc. are not included in GDP. Although they increase economic welfare.

iii) Composition of GDP- If GDP increases due to more production of war goods like weapons, tanks etc. it will not increase economic welfare.

iv) Externalities- Externalities refer to the benefits (or harms) a firm or an individual causes to another for which they are not paid (or penalized). Externalities do not have any market in which they can be bought and sold. Such as carrying out the production of refinery may also be polluting the nearby river and create pollution. This may cause harm to the people who use the water of the river. Such harmful effects that the refinery is inflicting on others, for which it does not have to bear any cost, are called externalities. Therefore, if we take GDP as a measure of welfare of the economy we shall be overestimating the actual welfare. This was an example of negative externality. There can be cases of positive externalities as well. In such cases GDP will underestimate the actual welfare of the economy.

Aggregate Demand is the total demand for all the final goods & services by all the consumers in the economy during a year.

The main determinants of Aggregate demand are.

i) Private final consumption demand (C) - It is the demand of household and non-profit making institutions serving households for durable goods (T.V., Fan etc.), semi-durable goods (clothes, shoes etc.) and non-durable goods (vegetable, bread etc.).

ii) Government final consumption demand (G)- It is the expenditure incurred by government on the purchase of goods and services which are needed to provide facilities to the general public, such as, expenditure on road, school, bridge, hospital etc. The level of government expenditure is determined by the government policy.

iii) Private investment demand (I)- It refers to the expenditure incurred by the private firm on the purchase of capital goods, such as plant , equipments, buildings, machine etc. The investment is made in the economy in order to increase the production capacity as well as to maintain the present level of production. The rate of interest affects the investment demand inversely.

iv) Net exports (X-M) - It is the difference between exports of goods & services and imports of goods & services during the given period of time. It refers to the demand of foreigners for our goods & services over domestic demand for foreign countries goods & services.

PURCHASE ORDER ABC HOTEL New Delhi

No. 56765

Phone-34543456

Date- 10.02.2007

Ref .No. ABC/07/45456

To, 

XYZ 

The Cannaught 

Place New Delhi.

Please enter our reference number on supply order and bill:

The acceptance of this order is an acceptance of all conditions herein.

Signature 

Purchase Officer 

For ABC Hotel

Six principles of storage:

• To check the pilferage access to the stored items should be restricted. 
• Only daily required perishable items should be kept in the kitchen rest of the items should be kept in deep freezers and fridge. 
• The dry store room should be well lit, dry, well ventilated, clean and away from direct sunlight. 
• Storage shelves or cupboards should be heavy and balanced to take the load of items kept on it. 
• The racks should have provision of adjustment of height in between the shelves so that the spaces are utilized to the maximum . 
• Tight fitted covers should be used for the storage bins.

Money is anything that is generally accepted by people of a country as a medium of exchange and measure of value.

Functions of Money-

i) Medium of exchange- People can sale and purchase (exchange) goods and services through money. 

ii) Measure of Value (Unit of value)- The values of different goods and services can be expressed in term of money 

iii) Standard of deferred payments- Future transactions or payments can be made in terms of money. 

iv) Store of value - The money has a quality of storability .So value of goods can be stored in term of it for long period of time.

Preserve is a combination of Jam, marmalade and honey

Credit Control :- The Central Bank controls the money supply and credit in the best interests of the economy. The bank does this by taking recourse to various instruments. These are:

i) Bank Rate Policy: The bank rate is the rate at which the central bank lends funds to banks. The effect of a change in the bank rate is to change the cost of securing funds from the central bank.

A rise in the bank rate will increase the cost of borrowing from the central bank then causes the commercial banks to increase the interest rates at which they lend. This will discourage businessmen and others from taking loans. Thus reduces the volume of credit and vice versa.

ii) Open Market Operations: The act of buying and selling of government securities by the Central Bank from / to the public and banks is called open market operations.

When the Central Bank buys securities from the banks and public it adds to cash balances in the economy. If cash balances are increased in the economy there will be more deposits with the commercial banks which raise the banks’ ability to give credit and thus increase the money supply.

When the Central Bank sells securities to the banks and public it withdraws cash balances from the economy. If cash balances are decreased in the economy there will be lesser deposits with the commercial banks which reduce the banks’ ability to give credit and thus decrease the money supply.

iii) Legal Reserve Ratio (LRR) – LRR is the minimum ratio of deposits which every bank legally is required to keep as liquefied reserve. There are two components of LLR namely CRR and SLR.

Cash Reserve Ratio (CRR): The minimum percentage of their total deposits which is to be kept by commercial banks with the Central Bank is called Cash Reserve Ratio.

A change in CRR affects the power of commercial bank to create the credit. An increase in the CRR reduces the lending capacity of commercial banks to grant loan. Then the commercial banks will increase the interest rates at which they lend. This will then discourage businessmen and others from taking loans. Thus reduces the volume of credit and vice versa.

Thus the CRR should be increased when credit is to be contracted and it (CRR) should be decreased when credit is to be increased.

Statutory Liquidity Ratio (SLR): Commercial Banks are required to maintain a specified percentage of their net total in the form of designated liquid assets or cash with themselves. This specific percentage is called Statutory Liquidity Ratio (SLR).

An increase in the SLR reduces the lending capacity of commercial banks to grant loan. Then the commercial banks will increase the interest rates at which they lend. This will then discourage businessmen and others from taking loans. Thus reduces the volume of credit and vice versa.

Thus the SLR should be increased when credit is to be contracted and it (SLR) should be decreased when credit is to be increased.

iv) Repo Rate: When the commercial banks are in need of funds for a short period, they can borrow from the Central Bank. The rate of interest charged by the Central Bank on such lending is called Repo Rate.

Raising Repo Rate makes such borrowings by the commercial banks costly. As such when Repo Rate is raised, banks are also forced to raise their lending rates. This has a negative effect on demand for borrowings from the commercial banks and vice versa.

v) Reverse Repo Rate: When the commercial banks have surplus funds they can deposit the same with the central bank and earn interest. The rate of interest paid by the Central Bank on such deposits is called Reverse Repo Rate.

When this rate is raised, it encourages the commercial banks to keep their funds with the central bank. This has the negative effect on the lending capability of the commercial banks and vice versa.

vi) Margin Requirements: A margin is the difference between the amount of the loan and market value of the security offered by the borrower against the loan.

If the margin imposed by the Central Bank is 20%, then the bank is allowed to give a loan only up to 80% of the value of the security. By altering the margin requirements, the Central Bank can alter the amount of loans made against securities by the banks. So higher margin requirements decreases the demand for credit and vice versa.

Money supply is the stock of coin, currency and demand deposits held with public at a particular point of time in an economy.

The main components of money supply are- 

(i) Currency held with the public. 

(ii) Demand deposits with commercial banks

Coffee served with milk

Anthropology

Double coincidence of wants is the situation in which both parties agree to sell and buy commodities of each other. What a person desires to sell is exactly what the other wishes to buy. This problem exists in case of the barter system of exchange.

Demand Deposits - The deposits that can be withdrawn any time by cheque or otherwise are known as demand deposits.

Central bank: A central bank is an apex institution of a country that controls and regulates the monetary and financial systems of a country. In India Reserve Bank of India (RBI) is the central bank.

Main functions of a central bank are: 

i) Issue of Currency - The central bank has monopoly of issuing currency in the country. Currency issued by it, is its monetary liability so it has to keep a reserve in the form of gold and foreign securities. It promotes efficiency in the financial system. Firstly, because this leads to uniformity in the issue of currency. Secondly, because it gives Central Bank a direct control over money supply.

ii) Bankers to Government- Central bank acts as the bank of central and state governments. It carries out all banking business of the govt. The govt. keeps its cash balances on current a/c with the central bank. It gives loans to central government for short period and manages the public debt of the country. It also transfers government funds and buys and sells securities, treasury bills etc. on behalf of the government.

iii) Bankers Bank & Supervisor- As the banker to banks the central bank holds a part of cash reserve of banks, lends them short-term funds and provides them with centralized clearing and remittance facilities.

The central bank supervises, regulates and controls the commercial banks. The regulation of these banks may be related to their licensing, branch expansion, liquidity of assets, management, merging of banks etc. The control is exercised by periodic inspection of banks and the returns filed by them.

iv) Controller of Money Supply- The central bank of the country tries to control the availability of credit in the market with its many tools like CRR, SLR, bank rate, open market operation etc which are also called the instruments of Monetary policy. Central bank regulates the money supply and credit in the best interest of the country.

v) Lender of Last Resort- It helps the commercial banks in times of financial difficulties. Scheduled banks can take the loans by re discounting first class bills or short term approved securities, whenever they do not get funds from any other sources.

Correct answer is (iii) Sociology

Correct answer is (ii) Robin Jeffrey 

(A) Article
Format of the Article
- Heading
- By line (name, class)
(may be listed at the end too)
- Body (split into paragraphs)

Article Writing – Travelling
Note – Since the question speaks of evaluating both options, it must include value points for both- reading about places and actually travelling to them - to create a robust article.
- Paragraph 1
Suggested value points with regards to reading/surfing about places-
• Food for the mind- educates one about different cultures
• Educates one about distinct histories
• Preview into cultures, know about experiences of other travellers
- Paragraph 2
Suggested value points with regards to travelling to places-
• builds confidence- by exposing one to new experiences
• opportunities to make friends- gives a chance to meet new people/widen horizons/ create contacts that might be helpful in future ( may use examples for the same)
• make memories – spend time with friends/ family/ self-photographs, blogs, videos etc.
• experience new cultures- be a part of different cultures by spending time with people/ partaking in festivities etc.
• expands knowledge via experience—pick up a language/ understand a country’s demography etc.
- Paragraph 3
• Relevant conclusion based on the discussion in paragraphs above
Accept any other relevant point(s)

(B) Report writing
Format of a report
- Title
- Reporter’s name/ as a correspondent
- Content (split into paragraphs)

Report
Paragraph 1- expansion of the headline
Paragraph 2 - description/ details (chronologically)[ use of transition words expected]
Paragraph 3 - eye witness account/s, concluding observation.
(make use of past tense; use of first person avoidable)

(A)formal reply of invitation

Formal reply as the art therapist (letter type)
• Expression of gratitude for the invite (Could include an appreciation of the initiative)
• Acceptance of the invite
• Confirmation about relevant details such as time, date etc.

(B) Invitation

Informal invite to cousin, Pooja (letter type)
• Share the feeling of happiness at the purchase
• Mention the occasion and provide details (time, place; any other specific instructions)
• Share expectations ( bring parents/ pick up xyz/ come early to help/ bring certain items etc.).

A. Johannes Gutenberg

Johannes Gutenberg introduced the printing press system in Europe.

D. Humlog

Humlog is not children programme.

Correct answer is (a) Putting arm around a coworker’s shoulder 

(b) Learning attitude through observation

Correct answer is (i) M. T. Vasudevan Nair 

(C) Monopoly

(d) Vivan is high in technological intelligence and Ajay is high in integral intelligence

Correct answer is

D. All of the above

Comparative advertising compares one brand directly or indirectly with one or more competing brands. This is very common and is used by nearly every major industry. This type of advertising is particularly resorted to by companies that are introducing a new product in a competitive market. The underlying idea to be told to the consumers in comparative terms could be how their new product is superior to all the existing ones.

Normally the competitor's product is never named directly, but implied. Also the manufacturers have to be careful about not misinforming the public about their competitor's product as it may attract a lawsuit.

16³ x 2 + 500 -10

= 4096 x 2 + 500 -10

= 8192 + 500 -10

= 8692 - 10

= 8682

Option 2 is the correct answer.

• Failure Modes and Effects Analysis (FMEA) is a systematic, proactive method for evaluating a process to identify where and how it might fail and to assess the relative impact of different failures, in order to identify the parts of the process that are most in need of change.
• Fault tree analysis (FTA) is a top-down, deductive failure analysis in which an undesired state of a system is analyzed using Boolean logic to combine a series of lower-level events. 
• The eight disciplines (8D) model is a problem solving approach typically employed by quality engineers or other professionals, and is most commonly used by the automotive industry but has also been successfully applied in healthcare, retail, finance, government, and manufacturing. The purpose of the 8D methodology is to identify, correct, and eliminate recurring problems, making it useful in product and process improvement.
• A fishbone diagram is a visualization tool for categorizing the potential causes of a problem. This tool is used in order to identify a problem's root causes. Typically used for root cause analysis, a fishbone diagram combines the practice of brainstorming with a type of mind map template.
• Five whys is an iterative interrogative technique used to explore the cause-and-effect relationships underlying a particular problem. The primary goal of the technique is to determine the root cause of a defect or problem by repeating the question "Why?".

The Correct Answer is option 1, i.e Bharsinga.

• Bharsinga is the state animal of Madhya Pradesh.

Here in this question, 

Option 4 is the correct answer.

As Theo speculated the fact that someone in Emily's family has died when he saw her crying.

Here in this question,

Option 4 is the correct answer.

As Lori's co-worker guaranteed the highest quality of the camera on the terms of returning it if not showed so, verbally.

Here in this question, 

Option 1 is the correct answer.

As Jake borrowed the camera and lens and after it broke because of him he told Leslie while returning that he'll pay for the damages.

The Correct Answer is option 2, i.e Asian Paradise flycatcher.

• Asian Paradise flycatcher is the state bird of Madhya Pradesh.

Here in this question,

Option 2 is the correct answer.

As the realtor can be seen embellishing the truth of property which is eleven blocks away from ocean as waterfront property.

Here in this question,

Option 2 is the correct answer.

As not paying rent is considered a violation of the legally binding document signed between landlord and tenant.

The Correct Answer is Option (2) i.e. 1-d, 2-c, 3-b, 4-a.

Acidity order of

o-NitroBenzoic acid > p-NitroBenzoic acid > p-ChloroBenzoic acid > p-Methoxybenzoic acid

The correct answer is All of these.

• Companies go for business process re-engineering with the help of technology because-
  • Customers demand and expectations are continuously increasing.
  • IT being leveraged to provide a competitive edge in products and services at lower costs.
  • The pace of change has accelerated with the liberalisation of economies world over.
  • Hence all the statements are correct.

• Business process re-engineering is a business management strategy, originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization.
• BPR aimed to help organizations fundamentally rethink how they do their work in order to improve customer service, cut operational costs, and become world-class competitors.
• BPR seeks to help companies radically restructure their organizations by focusing on the ground-up design of their business processes.
• Re-engineering emphasized a holistic focus on business objectives and how processes related to them, encouraging full-scale recreation of processes rather than iterative optimization of sub-processes.

The correct answer is Sutlej.

• The origin source of the Sutlej is west of the catchment area of Lake Rakshastal in Tibet, like springs in an ephemeral stream.
  • Ungti Chu and Pare Chu rivers are tributaries of the Sutlej river.
  • It finally terminates in the Arabian Sea near the port city of Karachi, Pakistan.
  • Bhakra Dam, Karcham Wangtoo Hydroelectric Plant, and Nathpa Jhakri Dam are situated in the Sutlej River.

• Chenab River originates in the upper Himalayas in the Lahaul and Spiti district of Himachal Pradesh state.
  • The ancient name of the Chenab River is Chandrabhaga.
• Jhelum River is a tributary of the Chenab River.
  • It has a total length of 725 km.
  • The ancient name of the Jhelum is Vitasta.
  • The river Jhelum rises from Verinag Spring situated at the foot of the Pir Panjal in the southeastern part of the Kashmir Valley.
  • It ends 67 Kilometers from Mari Shah Sakhira City in a confluence with the Chenab River at Trimmu in the Jhang District.
• The Ravi River rises in the Bara Bhangal, District Kangra in Himachal Pradesh.
  • The total length of the river is about 725 kilometers.

Correct option is C) throw