Explore topic-wise InterviewSolutions in Current Affairs.

i. (D)Still and clean.

ii. (B) He was afraid of entering the pool alone. 

iii. (C) He picked the narrator and tossed him into the deep end. 

iv. (A) Aggressor 

(A)If Statement 1 is the cause, Statement 2 is the effect. 

Recruitment is the process of attracting prospective candidates for a job while selection is the process of identifying and selecting the right candidate for that job.

Correct option is: (D) Motivation

(i) (A) Pleasant and lively. 

(ii) (C) To wait for the coach to arrive. 

(iii) (D) He took the narrator along to make him learn swimming.

(iv) (D) Intelligent

Correct option is b. 2 and 50.

Formal communication is the communication in which the information is transferred through proper organisational channels while Informal communication does not make use of formal channels to communicate.

(A) A is the cause, R is the effect. 

Correct option is c. One and fifteen.

(i) (A) The narrator

(ii) (C) Afraid about safety of her child 

(iii) (C) Drowning cases in Yakima river. 

(iv) (D) It was two to three feet deep at the shallow end.

Correct option is: (C) Both (A) and (B)

Correct option is: (A) Liberalisation

(b) Let the buyer beware

(c) Foreign collaboration

Correct Answer is : (c) King

(c) Brain Drain

Correct Answer is: (d) 6

The national commission should have 5.

Members: The National Consumer Disputes Redressal Commission has been constituted by a Notification.

• The National Commission should have five members.
• One should be from judiciary. 
• Four other members of ability, knowledge and experience from any other fields.
• It should include a woman.

• Primarily, it is necessary to set objectives or norms with predictable or estimated results.
• These performances are assessed and get equated to the actual performance.
• Next, the deviation gets analysed. With an insignificant or no deviation, no action is required and senior managers can concentrate on other matters.

• Savings Mobilization: Obtaining funds from the savers or ‘surplus’ units such as household individuals, business firms, public sector units, Government is an important role played by financial markets.Investment: Financial market plays a key role in arranging the investment of funds thus collected, in those units which are in need of the same.
• Investment: Financial market plays a key role in arranging the investment of funds thus collected, in those units which are in need of the same.
• National Growth: Financial markets contribute to a nation’s growth by ensuring an unfettered flow of surplus funds to deficit units. Flow of funds for productive purposes is also made possible, ft leads to overall economic growth.
• Entrepreneurship Growth: Financial markets contribute to the development of the entrepreneurial class by making available the necessary financial resources.
• Industrial Development: The different components of financial markets help an accelerated growth of industrial and economic development of a country and thus contributing to raising the standard of living and the society’s well-being.

MBO harmonises the goal of an individual with the organisation’s goal.

Agricultural entrepreneurs are those entrepreneurs who raise farm products and market them. They use the various inputs like labour, fertilizer, insecticide, water technology, etc., to raise the products and market their products either directly or through co-operative entities or through brokers or through tie up with large retailers.

• The main disadvantage of MBE is, only managers have the power over really important decisions, which can be demotivating for employees at a lower level.
• Furthermore, it takes time to pass the issues to managers. Managing employees who deviate from the normal procedures. Because of compliance failures are considered difficult to manage and typically find themselves with limited job duties and ultimately dismissed/ terminated.

Pure entrepreneurs are individuals who are propelled to enter into venture by psychological and economic motives. They nurture desire of starting a particular venture and earning high profit there from and thus attaining a social status. They apply their knowledge, skill and insight in making the venture a great success in order to earn maximum profit out of the venture. Dhirubai Ambani, Jamshedji Tata, T.V. Sundaram Iyengar, Seshadriji, Birla, Narayanamurthi, and Azim Premji are few examples of pure entrepreneurship.

Jam is made in two step.

(c) Innovation

Following essential elements are necessary for a contract of sale:

• Two Parties 
• Transfer of Property 
• Goods Price
• Includes both ‘Sale’ and ‘Agreement to Sell’.

In every contract of sale, the first implied condition on the part of the seller is that:

• in case of a sale, he has a right to sell the goods,
• and in the case of an agreement to sell, he will have the right to sell the goods at the time when the property is to pass. Buyer is entitled to reject the goods and to recover the price if the title turns out to be defective.

The Father of Modem Management is Mr.Henry Fayol, and according to him there are 14 major principles of management which every manager has to practice for the success of the organisation.

(i) Division of Work: According to this principle the whole work is divided into small tasks. This leads to specialization which increases the efficiency of labour. 

(ii) Authority and Responsibility: This is the issue of commands followed by responsibility for their consequences.

(iii) Discipline: It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organisations. 

(iv) Unity of Command: This principle states that each subordinate should receive orders and be accountable to one and only one superior.

(v) Unity of Direction: All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager.

(vi) Subordination of Individual Interest to Mutual Interest: The management must put aside personal considerations and put company objectives firstly. 

(vii) Remuneration: Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity.

(viii) The Degree of Centralization: The amount of power wielded with the central management depends on company size. 

(ix) Line of Authority/Scalar Chain: This refers to the chain of superiors ranging from top management to the lowest rank.

(x) Order: Social order ensures the fluid operation of a company through authoritative procedure. 

(xi) Equity: Employees must be treated kindly, and justice must be enacted to ensure a just workplace. 

(xii) Stability of Tenure of Personnel: Stability of tenure of personnel is a principle stating that in order for an organisation to run smoothly, personnel (especially managerial personnel) must not frequently enter and exit the organisation.

(xiii) Initiative: Using the initiative of employees can add strength and new ideas to an organisation. 

(x/v) Esprit de Corps/Team Spirit: This refers to the need of managers to ensure and develop morale in the workplace; individually and communally.

Directors act as agents of the shareholders and act as trustees of shareholders. 

The following are the duties of directors:

Collective Duties of Directors: Directors as a part of Board perform certain duties collectively. 

The duties are as follows:

• Approval of annual accounts and authentication of annual accounts
• Appointment of First Auditors
• Passing of resolutions at board meetings
• Directors report to shareholders highlighting the performance of the company.

General duties of Directors:

• Delegating power to any committee
• Issuing instructions to employees for implementation of policy
• Appointing their subordinates like Managing director, Manager, Secretary and other employees
• Act in Good faith in order to promote the objectives of the company

STEP: Support to Training and Employment Programme for women

JAM: Jan-Dhan-Aadhaar-Mobile 

M-SIPS: Modified Special Incentive Package Scheme

SEED: Science for Equity Empowerment and Development

New Gen IEDC: New Gen Innovation and Entrepreneurship Development Centre

TREAD: Trade Related Entrepreneurship Assistance and Development.

Correct Answer is: (a) three

a) Cost accounting

Notional rent is considered in Cost accounting.

Warranty is a stipulation which is collateral to main purpose of contract.

A Public Company having a paid up Share Capital of Rs Five or more may have a Director, elected by such small shareholders.

A shadow director is a person who is not the member of Board but has some power to run it and can be appointed as the director but according to his/her wish.

A motion, with or without the amendments which is put to vote at a meeting and passed with the required quorum becomes resolution. Resolution may be classified into three types. They are: Ordinary resolution, Special resolution and resolution requiring special notice.

(i) Ordinary Resolution: An ordinary resolution is one which can be passed by a simple majority. 

Ordinary Resolution is required for the following matters:

• To change or rectify the name of the company
• To alter the share capital of the company 
• To redeem the debentures 
• To declare the dividends 
• To appoint the directors

(ii) Special Resolution: A special resolution is the one which is passed by not less than 75% of majority. 

Special Resolution is required for the following matters:

• To change the registered office of the company 
• To alter the Articles of Association 
• To commence any new business 
• To appoint the auditor for the company

(iii) Resolution requiring Special Notice: There are certain matters specified in the Companies Act, 2013 which may be discussed at a general meeting only if a special notice is given at least 14 days before the meeting.

The following matters require special notice:

• To remove a director before the expiry of his period 
• To appoint a director in the place of a director so removed

When crossing restrict further negotiation Not negotiable crossing.

A Director of Company can be removed from his Office before the expiry of his term by

• the Shareholders
• the Central Government 
• the Company Law Board

(i) Removal by shareholders (Sec- 169): A company may, by giving a special notice and passing an ordinary resolution, remove a director before the expiry of his period of office.

(ii) Removal by the Central Government: The Central Government has been empowered to remove managerial personnel from office on the recommendation of the Company Law Board under the following situations:

• Where a person concerned in the conduct and management of the affairs of a company has been guilty of fraud and negligence.
• If the business is managed by a person without sound business principles.
• Where the business of a company has been managed by such a person, who likes to cause injury or damage to the business.

Removal by the Company Law Board: If an application has been made to the Company Law Board against the oppression and mismanagement of the company’s affairs by a director, then the Company Law Board may order to terminate the director.

(a) Accounting

An entrepreneur can get the report prepared by technical consultancy organisations or by auditors or by government agencies. 

The report should include the following:

(i) Technical feasibility: It should contain the description of product, raw materials, quality control measures, water, power and transport. 

(ii) Economic viability: It involves compilation of demand for domestic and export market. 

(iii) Financial viability: It should cover the aspects like: Non-recurring expenses like cost of land, and building. Recurring expenses like wages and salaries. 

(iv) Managerial competency: Entrepreneurs has to include the mechanism for managing the venture in the project report.

(v) Provisional registration certificate: He has to apply for provisional registration certificate. It will be issued after certain conditions for a period of one year. 

(vi) Permanent registration certificate: If the venture has commenced production, or is ready to commence production, it is eligible to get permanent registration certificate.

(vii) Statutory licence: He should obtain Municipal Licence from the authority concerned. 

(viii) Power connection: He has to make application to Assistant Divisional Engineer of Electricity Board for power connection. 

(ix) Arrangement of finance: Entrepreneur requires two types of finance namely Long term and Short term.

(d) Agricultural

Correct option: (C) Financial management

Entrepreneur has to include the mechanism for managing venture in the project report.

Correct option: (B) developing

Correct Answer is : (d) Board

John Rawls is the author of the theory of justice.

Correct option is: (D) All of these

John Rawls Propagated the Theory of justice.