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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The component of aggregate demand is……….. (a) Personal demand (b) Government expenditure (c) Only export (d) Only import |
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Answer» (b) Government expenditure |
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| 2. |
Which of the following is correctly matched: (a) Aggregate Income – C (b) Consumption expenditure – IA (c) Autonomous Investment – Y (d) Induced Private Investment – lP |
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Answer» (d) Induced Private Investment – IP |
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| 3. |
The aggregate effective demand would increase the level of………. (a) unemployment (b) employment (c) cyclical unemployment (d) open unemployment |
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Answer» (b) employment |
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| 4. |
Explain about Marginal Efficiency of Capital [MEC] short run factors and long run factors. |
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Answer» (a) Short – Run Factors (i) Demand for the product:
(ii) Liquid assets:
(iii) Sudden changes in income:
(iv) Current rate of investment:
(v) Waves of optimism and pessimism: 1. The marginal efficiency of capital is also affected by waves of optimism and pessimism in the business cycle. 2. If businessmen are optimistic about future, the MEC will be likely to be high. 3. During periods of pessimism the MEC is under estimated and so will be low. (b) Long – Run Factors The long run factors which influence the marginal efficiency of capital are as follows: (i) Rate of growth of population:
(ii) Technological progress:
(iii) Monetary and Fiscal policies: Cheap money policy and liberal tax policy pave the way for greater profit margin and so MEC is likely to be high. (iv) Political environment: Political stability, smooth administration, maintenance of law and order help to improve MEC. (v) Resource availability: Cheap and abundant supply of natural resources, efficient labour and stock of capital enhance the MEC. |
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| 5. |
Aggregate Supply Function meaning and components. |
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Answer» Aggregate supply function is an increasing function of the level of employment. Aggregate supply refers to the value of total output of goods and services produced in an economy in a year. In other words, aggregate supply is equal to the value of national product, i.e., national income. The components of aggregate supply are: 1. Aggregate (desired) consumption expenditure (C) 2. Aggregate (desired) private savings (S) 3. Net tax payments (T) (Total tax payment to be received by the government minus transfer payments, subsidy and interest payments to be incurred by the government) and 4. Personal (desired) transfer payments to the foreigners (Rf) (e.g. Donations to international relief efforts) |
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| 6. |
The United Nations Framework Convention on Climate Change deals withA. reduction in fossil fuel usageB. `CO_(2)` emissions mitigationC. reduction in Uranium productionD. greenhouse gases emissions mitigation |
| Answer» Correct Answer - D | |
| 7. |
Ronald Eliot, ____, is in my English class. A) his brother is a pilot B) whose brother is a pilot C) who’s his brother a pilot D) whose not a pilot |
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Answer» Correct option is B) whose brother is a pilot |
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| 8. |
Monetary Policy as an arm of the economic policy is administered byA. State bank of IndiaB. Reserve Bank of IndiaC. Government, of IndiaD. Governments of the respective states |
| Answer» Correct Answer - B | |
| 9. |
Illustrate the working of Multiplier. |
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Answer» Working of Multiplier: 1. Suppose the Government undertakes investment expenditure equal to Rs 100 crore on some public works, by way of wages, price of materials etc. 2. Thus income of labourers and suppliers of materials increases by Rs 100 crore. Suppose the MPC is 0.8 that is 80 %. 3. A sum of Rs 80 crores is spent on consumption (A sum of Rs 20 Crores is saved). 4. As a result, suppliers of goods get an income of Rs 80 crores. 5. They intum spend Rs 64 crores (80% of Rs 80 cr). In this manner consumption expenditure and increase in income act in a chain like manner. The final result is ΔY = 100 + 100 × 4/5 + 100 × [4/5]² + 100 × [4/5]³ or, ΔY = 100 + 100 × 0.8 + 100 × (0.8)² + 100 × (0.8)³ = 100 + 80+ 64 + 51.2… = 500 that is 100 × 1/1 – 4/5 100 × 1/1/5 100 × 5 = Rs 500 crores For instance if C = 100 + 0.8Y, I = 100, Then Y = 100+ 0.8Y + 100 0. 2Y = 200 Y = 200/0.2 = 1000 → Point B If I is increased to 110, then 0. 2Y = 210 Y = 210/0.2 = 1050 → Point D For Rs 10 increase in I, Y has increased by Rs 50. This is due to multiplier effect. At point A, Y = C = 500 C = 100 + 0.8 (500) = 500; S = 0 At point B, Y = 1000 C = 100 + 0.8 (1000) = 900; S = 100 = I At point D, Y = 1050 C = 100 + 0.8 (1050) = 940; S = 110 = I When I is increased by 10, Y increases by 50. This is multiplier effect (K = 5) K = 1 / 0.2 = 5 |
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| 10. |
Currently, which south Americal country is facing hyper inflation and shortage of food problem?A. VenezuelaB. ColombiaC. ParaguayD. Uruguav |
| Answer» Correct Answer - A | |
| 11. |
What is the name of inflation without a rise in price level? (a) Repressed Inflation (b) Hyper Inflation (c) Galloping Inflation(d) Cost-Push Inflation |
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Answer» (a) Repressed Inflation |
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| 12. |
Explain the primary functions of money. |
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Answer» (i) Money as a medium of exchange: This is considered as the basic function of money. Money has the quality of general acceptability, and all exchanges take place in terms of money. (ii) Money as a measure of value: The second important function of money is that it measures the value of goods and services. In other words, the prices of all goods and services are expressed in terms of money. Money is thus looked upon as a collective measure of value. |
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| 13. |
The autonomous investment curve is to x-axis |
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Answer» The autonomous investment curve is to x-axis in horizontal parallel. |
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| 14. |
Paper currency system is managed by the……….. (a) Central Monetary authority (b) State Government (c) Central Government (d) Banks |
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Answer» (a) Central Monetary authority |
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| 15. |
When investment is assumed autonomous the slope of the AD schedule is determined by the…………(a) marginal propensity to invest (b) disposable income . (c) marginal propensity to consume (d) average propensity to consume |
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Answer» (c) marginal propensity to consume |
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| 16. |
The term super multiplier was first used by………. (a) J.R.Hicks (b) R.G.D. Allen (c) Kahn (d) Keynes |
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Answer» (a) J.R.Hicks |
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| 17. |
The autonomous investment curve is to x-axis 1. positively sloped 2. vertical 3. horizontal parallel 4. negatively sloped |
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Answer» The correct option is (3). horizontal parallel. Autonomous investment refers to that investment which is independent of the level of income in the economy. It remains constant irrespective of the level of income in the economy. It refers to the type of investment which is not affected by a change in the level of income in the economy. Graphically, it is represented by a horizontal line parallel to X axis. |
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| 18. |
In which state of India is Vijayanagar steel Plant located?(a) Andhra Pradesh (b) Orissa(c) Karnataka (d) Maharashtra |
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Answer» Vijayanagar steel Plant located in Karnataka. |
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| 19. |
By 5.30 this afternoon, Tom ______ at work for eight hours. A) had been B) would have been C) will have been D) has been |
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Answer» Correct option is C) will have been |
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| 20. |
Dynamic multiplier is also known as multiplier 1. sequence 2. static 3. simulataneous4. negative |
| Answer» The answer is 1. sequence | |
| 21. |
State the concept of super multiplier. |
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Answer» Super Multiplier: (k and p interaction) 1. The super multiplier is greater than simple multiplier which includes only autonomous investment and no induced investment, while super multiplier includes induced investment. 2. In order to measure the total effect of initial investment on income, Hicks has combined the k and p mathematically and given it the name of the Super Multiplier. 3. The super multiplier is worked out by combining both induced consumption and induced investment. |
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| 22. |
The Bhagavad-Gita is part of the epic Mahabharata. Since the theme of the Mahabharata is the struggle between rival factions of the Bharat clan, the Bhagavad-Gita begins with a description of the battlefield and the innumerable warriors lined up for fighting. The scene is laid in Kurukshetra, near Hastinapur, near modern Delhi. We find Arjun, one of the warrior princes, stationary in a kind of no man’s land between the two warring armies, his own and the enemy’s. Krishna is his charioteer. Arjun expresses some qualms about killing people, some of them his own kinsmen. This leads Krishna to expound his philosophy which is contained in this beautiful work. (a) (i) Write the theme of the Mahabharata. (ii) How does the Bhagavad-Gita begin? (iii) Where is the scene of the battle laid? (iv) Where do we find Arjun stationary? (v) When does Krishna expound his philosophy? (b) Give the synonyms of the following words :(i) Faction(ii) Warrior(iii) Stationary (iv) Qualm (v) Kinsmen (vi) Philosophy |
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Answer» (a) (i) The theme of the Mahabharata is the struggle between rival factions of the Bharat clan. (ii) The Bhagavad-Gita begins with the description of the battlefield and innumerable warriors lined up for fighting. (iii) The scene of the battle is laid in Kurukshetra, near Hastinapur. (iv) We find Arjun, one of the warrior princes, stationary in a land of no man’s land between the two warring armies, his own and the enemy’s. (v) When Arjun expresses some qualms about killing people, some of his own kinsmen, Krishna, his charioteer, expound his philosophy which forms the Bhagavad-Gita. (b) (i) Faction tumult - dissension (ii) Warrior - soldier (iii) Stationary motionless - still (iv) Qualm - feeling of doubt or anxiety about what might happen (v) Kinsman - relative (vi) Philosophy - teaching |
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| 23. |
What is the phase relationship between the voltage and current in a capacitor? |
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Answer» CURRENT LEADS BY 90 DEGREES. |
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| 24. |
Events were so shaping themselves in Johannesburg as to make this self – purification on my part a preliminary as it was to Satyagraha. I can now see that all the principal events of my life, culminating in the vow of brahmacharya, were secretly preparing me for it. The principle called Satyagraha came into being before that name was invented. Indeed when it worn, I myself could not say what it was? In Gujarati also we used the English phrase ‘passive resistance’ to describe it. When in a meeting of Europeans I found that the term ‘passive resistance’ was too narrowly construed, that it was supposed to be a weapon of the weak, that it could be characterized by hatred, and that it could finally manifest itself as violence, I had to demur to all these statements and explain the real nature of the Indian movement. I was clear that a new word must be coined by the Indians to designate their struggle.But I could not for my life find out a new name and therefore offered a nominal prize through Indian opinion to the reader who made the best suggestion on the subject. As a result Maganlal Gandhi coined the word ‘sadagraha’ (sat - truth, Agraha - firmness) and won the prize. But in order to make it clearer I changed the word to ‘Satyagraha’ which has since become current in Gujarati as a designation for the struggle. - M.K. Gandhi (a) (i) What was the earlier usage of Satyagraha in Gujrati? (ii) Did the author realize the narrowness of the term ‘Passive resistance?’ When?(iii) When was it realized to coin a new word for the Indian movement?(iv) Who coined the word ‘Sadagraha’?(v) Name the man who changed the term from ‘Sadagraha’ to ‘Satyagraha?’(b) Give the synonyms of the underlined words: |
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Answer» (a) (i) In Gujrati, Satyagraha was used as ‘passive resistance.’ (ii) Yes, the author realized the narrowness of the term ‘passive resistance’ when he was in a meeting with the Europeans. (iii) When the author realized that there was some tinge of hatred and violence in it, he felt the need to coin a new word for the Indian Movement. (iv) Maganla Gandhi coined the word ‘Sadagraha.’ (v) Mahatma Gandhi changed the term Sadagraha into Satyagraha. (b)
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| 25. |
Socialism, of course, deliberately wants to interfere with the normal processes and thus not only adds to the productive forces but lessons inequalities. But, what is socialism? It is difficult to give precise answer and there are innumerable definitions of it. Some people probably think of socialism vaguely just as something which does good and which aims at equality. That does not take us very far. Socialism is basically a different approach from that of capitalism; though I think it is true that the wide gap between them tends to lesson because many of the ideas of socialism are gradually incorporated even in the capitalist structure. Socialism is after all not only a way of life but a certain scientific approach to social and economic problems. (a) (i) Define Socialism.(ii) What does socialism deliberately want?(iii) What do the common people think about socialism?(iv) What does socialism do for the society?(v) From what does socialism differ?(b) Give antonyms of the following words :Interfere, innumerable, normal, add, inequality, difficult, answer, far, wide, precise. |
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Answer» (a) (i) Socialism is something which does good for society and aims at equality. (ii) Socialism deliberately wants equality in the society. (iii) The common people think that socialism fills the gap between the poor and the rich. (iv) Socialism is not only a way of life but a scientific approach to solve social and economic ills. (v) Socialism is basically a different approach from that of capitalism. (b)
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| 26. |
Nothing gave Lincoln greater joy than saving a life. When he was President and the American Civil War was going on, a group of soldiers came to him and asked him to pardon a young soldier who was to be shot, the next day for sleeping on guard duty. “William Scott slept when he was on duty because he was tired after a long march,” they said. Lincoln promised to do what he could in the matter. Lincoln was very busy for the rest of the day and he remembered his promise only late in the evening. He at once set out for the camp where Scott was kept prisoner. He met the young man and talked to him sometime, and then said, “My boy, you won’t be shot tomorrow, because I believe you and I am going to pardon you. But who is going to pay the bill for the trouble I have been put to? The young soldier said that his friends would pay it, if it wasn’t more than five hundred dollars. “No”, said Lincoln, “There is only one man who can pay and that is William Scott. He can pay the bill by promising to do his duty for this country.” Scott gave his word and Lincoln went back pleased with the young man and at peace with himself.(a) (i) What gave Lincoln the greatest joy?(ii) What was going on when Lincoln was President?(iii) Why was William Scott to be shot?(iv) Why did the soldier ask Abraham Lincoln to pardon William Scott?(v) Who can pay the bill and how?(b) Give antonyms of the following words : Joy, day, tomorrow,young, do, peace |
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Answer» (a) (i) Lincoln found the greatest joy in saving a life. (ii) The American Civil War was going on when Lincoln was President. (iii) William Scott was to be shot because he slept when he was on duty. (iv) The soldier asked Abraham Lincoln to pardon William Scott because he was tired after a long march and hence slept when he was on duty. (v) Scott can pay the bill by promising to do his duty for his country. (b)
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| 27. |
In cell division, the phase following the metaphas is known as:a) prophase b) anaphase c) telophase d) extophase |
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Answer» In cell division, the phase following the metaphas is known as Anaphase. |
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| 28. |
During the final stage of cell division, the mitotic apparatus disappears, the chromosomes become attenuated, the centrioles duplicate and split, the nuclear membrane becomes reconstituted and the nucleolus reappears. This phase of cell division is known as:a) prophaseb) metaphasec) anaphased) telophase |
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Answer» During the final stage of cell division, the mitotic apparatus disappears, the chromosomes become attenuated, the centrioles duplicate and split, the nuclear membrane becomes reconstituted and the nucleolus reappears. This phase of cell division is known as Telophase. |
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| 29. |
Read the following text: The American Institute of Certified Public Accountants states the nature of financial statements as, “the statements prepared for the purpose of presenting a periodical review of report on progress by the management and deal with the status of investment in the business and the results achieved during the period under review. They reflect a combination of recorded facts, accounting principles and personal judgements”. Thus, financial statements are the summarized reports of recorded facts and are prepared the following accounting concepts, conventions, postulates, accounting policies, accounting standards and requirements of Law. Based on the above, answer the following questions:1. While, preparing statement of profit and loss the revenue is included in the sales of the year in which the sale was undertaken even though the sale price may be received over a number of yea₹ This is based on which postulates of accounting? a) Going concern concept b) Realization c) Money measurement d) Materiality2. Small items like pencils, pens, postage stamps, etc.are named as stationery and are treated as expenditure in the year in which they are purchased even though they are assets in nature. This is based on the principle of a) Going concern concept b) Realisation c)Money measurement d) Materiality3. Every company registered under The Companies Act 2013 shall prepare its balance sheet, statement of profit and loss and notes to account thereto in accordance with the manner prescribed by Companies Act, 2013 to harmonise the disclosure requirement with the accounting standards and to converge with new reforms as per a) Schedule VI, Part I& II of Companies Act 2013 b) Schedule III, Part I &IIof Companies Act 2013 c) The provisions of Memorandum of Association d) As per Table F of Companies Act 2013.4. Balance sheet and Statement of Profit & Loss are supported by Notes to Accounts.What do toy mean by Notes to Accounts? a) Details of items given in the Balance sheet and Statement of Profit & Loss b) Abstract of Memorandum of Association of a company c) Provisions of Table F of Companies Act 2013 d) Provisions of Companies Act 2013 |
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Answer» 1. b) Realization 2. d) Materiality 3. b) Schedule III, Part I & II of Companies Act 2013 4. a) Details of items given in the Balance sheet and Statement of Profit & Loss |
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| 30. |
Name the sac-like, blind pouch of the large intestine, situated below the level of the junction of the small intestine into the side of the large intestine. At the lower portion of this pouch one finds the appendix. |
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Answer» Cecum or Caecum |
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| 31. |
Read the text given below: Financial statements are the basic sources of information to the shareholders and other external parties for understanding the profitability and financial position of any business concern. They provide information about the results of the business concern during a specified period of time in terms of assets and liabilities, which provide the basis for taking decisions. Thus, the primary objective of financial statements is to assist the users in their decision-making. Financial statements provide the necessary information about the performance of the management to those parties interested in the organisation and help in taking appropriate economic decisions. It may be noted that the financial statements constitute an integral part of the annual report of the company in addition to the directors report, auditors report, corporate governance report, and management discussion and analysis. Though utmost care is taken in the preparation of the financial statements and provide detailed information to the users, they are not free from limitations. Answer the following questions:1. The interested parties of accounting information include a) Share holders b) Government c) Prospective investors d) All the above2. The primary objective of financial statements is to assist the users in their decision-making. The other objective of financial statements is a) To abide by the Laws of the country b) To follow the Accounting standards c) To provide the information about the earning capacity of business. d) To learn the nature, objectives and types of financial statements it has to prepare including their contents, format, uses etc3. The major limitations of financial statements are a) Aids trade associations in helping their members b) Guide to the value of the investment already made: c) Do not reflect current situation d) Report on stewardship function4. Internal users of financial statements constitute a) Owners b) Employees c) Investors d) Government and tax authorities |
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Answer» 1. d) All the above 2. c) To provide the information about the earning capacity of business 3. c) Do not reflect current situation 4. b) Employees |
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| 32. |
If you want to succeed, you must ________ . A) keep to try B) keep in trying C) keep on trying D) keep on to try |
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Answer» Correct option is C) keep on trying
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| 33. |
Read the text given below:Financial statements are the basic sources of information to the shareholders and other external parties for understanding the profitability and financial position of any business concern. They provide information about the results of the business concern during a specified period of time in terms of assets and liabilities, which provide the basis for taking decisions. Thus, the primary objective of financial statements is to assist the users in their decision-making. Financial statements provide the necessary information about the performance of the management to those parties interested in the organisation and help in taking appropriate economic decisions. It may be noted that the financial statements constitute an integral part of the annual report of the company in addition to the directors report, auditors report, corporate governance report, and management discussion and analysis. Though utmost care is taken in the preparation of the financial statements and provide detailed information to the users, they are not free from limitations.Answer the following questions:1. The interested parties of accounting information include a) Share holders b) Government c) Prospective investors d) All the above 2 The primary objective of financial statements is to assist the users in their decision-making. The other objective of financial statements is a) To abide by the Laws of the country b) To follow the Accounting standards c) To provide the information about the earning capacity of business. d) To learn the nature, objectives and types of financial statements it has to prepare including their contents, format, uses etc 3 The major limitations of financial statements are a) Aids trade associations in helping their members b) Guide to the value of the investment already made: c) Do not reflect current situation d) Report on stewardship function4 Internal users of financial statements constitute a) Owners b) Employees c) Investors d) Government and tax authorities |
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Answer» Correct option is 1 d) All the above 2 c) To provide the information about the earning capacity of business. 3 c) Do not reflect current situation 4 b) Employees |
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| 34. |
A: Were you able to cure the patient? B: He ______ already ______ by the time I got there. A) will / have been cured B) had / been cured C) had / cured D) has / been cured |
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Answer» Correct option is B) had / been cured |
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| 35. |
In June 2020, which of the following states has decided to appoint 'swasthya mitras' in villages to advise people against falling into any kind of addiction?1. Gujrat2. Maharashtra3. Rajasthan4. Punjab |
Answer» Correct Answer - Option 3 : Rajasthan
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| 36. |
I’ll have a bath _____ I go to work. A) after B) as soon as C) before D) while |
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Answer» Correct option is C) before |
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| 37. |
_____ we discover life on another planet, will it be intelligent? A) As soon as B) When C) Until D) If |
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Answer» Correct option is D) If |
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| 38. |
I’m sorry you are leaving. I _____ when you _____. A) am glad / you are back B) glad / will be back C) will be glad / are back D) am glad / will be back |
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Answer» Correct option is C) will be glad / are back |
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| 39. |
I’m not going to miss the chance of seeing this performance ____ it is. A) however expensive B) although expensive C) nevertheless expensive D) how expensive |
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Answer» Correct option is A) however expensive |
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| 40. |
For the following two statements choose the correct option: Statement I: Advertising is an impersonal form of communication Statement II: Advertising lacks direct feedback Choose the correct option from the options given below: (a) Statement I is correct and II is wrong (b) Statement II is correct and I is wrong (c) Both the statements are correct (d) Both the statements are incorrect |
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Answer» (c) Both the statements are correct |
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| 41. |
. I’m going to bed when this TV program _____. A) ended B) will end C) is going to end D) ends |
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Answer» Correct option is D) ends |
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| 42. |
Bye! I _____ you when I _____ home. A) phoned / get B) will phone / will get C) phone / get D) will phone / get |
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Answer» Correct option is D) will phone / get |
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| 43. |
I want to get home _____ Jim comes back. A) if B) before C) until D) when |
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Answer» Correct option is B) before |
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| 44. |
Teresa wasn’t the only one in the car ________ A) It was some other. B) It was someone else. C) There was some other. D) There was someone else. |
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Answer» Correct option is D) There was someone else |
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| 45. |
He was late ______ he took a taxi to go to work. A) as B) because C) so D) in order to |
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Answer» Correct option is C) so |
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| 46. |
_____ it is a nice day tomorrow, we can go swimming. A) If B) Until C) When D) Before |
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Answer» Correct option is A) If |
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| 47. |
_____ you have any problem, just ask for help. A) When B) After C) Before D) Until |
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Answer» Correct option is A) When |
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| 48. |
It was hot; ______ we went swimming. A) because B) therefore C) as long as D) even though |
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Answer» Correct option is B) therefore |
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| 49. |
I’d like to leave my car near here. Where’s the ________ please? A) nearest parking B) next parking C) nearest car park D) next car park |
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Answer» Correct option is C) nearest car park |
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| 50. |
Which of the following bird is the official state bird of Haryana?1. Rose ringed parakeet2.Great hornbill3.House sparrow4. Black francolin |
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Answer» "Correct Answer - Option 4 : Black francolin
To see more official state tree and their states: https://en.wikipedia.org/wiki/List_of_Indian_state_birds " |
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