The current price index (base 1960) is nearly 330. This means that
Answer: C
It means that a weighted mean of the prices of a selected set of items has risen 3.3 times.
A price index is a weighted average, the weights reflecting each item's share in expenditure. It does not follow that every item has risen by that factor, nor that any particular one has.
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All losses and expenses are
Answer: A
All losses and expenses are debited.
The rule for nominal accounts is: debit all expenses and losses, credit all incomes and gains. Expenses reduce owner's equity, and under the double-entry system a reduction in equity is recorded as a debit.
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The National Stock Exchange functions from
Answer: B
The National Stock Exchange functions from Mumbai.
It was set up in 1992 on the Pherwani Committee's recommendation and began trading in 1994, introducing electronic screen-based trading nationwide. It is now the largest exchange in India by turnover.
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Among the following, the item that earns the most foreign exchange for India is
Answer: A
Medicines earn the most of these.
Pharmaceutical exports now exceed $25 billion a year, well ahead of rice at about $10 billion and leather and spices at about $4 billion each. Leather was the traditional answer to this question, and was among the top earners in the 1970s and 1980s.
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Bank Reconciliation Statement is
Answer: D
It is a statement prepared to find the causes of the difference between the cash book and the pass book.
The two rarely agree at a given date because of cheques issued but not presented, cheques deposited but not cleared, and bank charges or interest not yet entered. The reconciliation statement lists these items and is not itself part of the books of account.
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Ten rupee notes contain the signature of:
Answer: C
They bear the signature of the Governor of the Reserve Bank.
Every note above one rupee is issued by the RBI and signed by its Governor. The one-rupee note is issued by the Government of India and carries the Finance Secretary's signature instead.
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Novelis has been acquired and merged with
Answer: C
Novelis was acquired by Hindalco.
The Aditya Birla group company bought the Canadian aluminium rolling firm in 2007 for about $6 billion, then the largest overseas acquisition by an Indian company after Tata Steel's purchase of Corus. It made Hindalco the world's largest aluminium rolling company.
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The Maximum investment limit for Small-Scale Industries has been reduced to
Answer: C
The limit was set at Rs 1 crore.
Small-scale industry was defined by the ceiling on investment in plant and machinery, which was raised to Rs 3 crore in 1997 and then reduced back to Rs 1 crore in 1999. The MSMED Act of 2006 replaced this classification altogether.
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Pradhan Mantri Gramodaya Yojana started in ?
Answer: B
It started in 2000.
The Pradhan Mantri Gramodaya Yojana provided additional central assistance to states for village-level projects in five priority areas: primary health, primary education, rural shelter, rural drinking water and nutrition.
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In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
Answer: D
Telecommunications attracted the highest FDI inflows.
The sector was opened to private and foreign participation in the 1990s, and the growth of mobile telephony from the late 1990s drew very large investment. Services and computer software have since overtaken it.
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