Bank Reconciliation Statement is

a statement prepared to find out the causes for difference between bank column of cash book and pass book

Tax clearance certificate is required for

any auditor to practice income tax

any assessor who wants to escape tax

Recent Tax reforms in India are based on the

Rajah J. Chelliah Committee report

Black money refers to

paper money which is black in colour

Consider the following statements: Assertion(A): Demand curve normally slopes down wards. Reason (R) : Demand for goods increases when price increases. Of these

Both (A) and (R) are true and (R) is the correct explanation of (A)

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

"Grapevine" is a term used in relation to

both formal and informal communication

Consider the following statement: Assertion (A) : Indian Economy is a developing economy Reason (R) : India has disguised unemployment. Of the Statements:

Both (A) and (R) are true. And (R) is the correct explanation of (A)

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

The main and final aim of Land Reform is

making tillers as the owners of the soil

"Economic Planning" refers to

proper planning to utilize manpower

exploitation of both tax revenue and manpower

Foreign Exchange Restrictions Act

Foreign Exchange Regulation Act

Foreign Exchange Restrictions Act

Consider the following statements: Assertion(A) : India is one of the leading Industrial countries among the developing countries. Reason (R) : Government of India has neglected altogether the traditional craft Industries Now Select your answer using the codes scheme given below:

Both (A) and (R) are true and (R) is the correct explanation of (A)

Both (A) and (R) are true, But (R) is not the correct explanation of (A)

1254 + Mcqs in Indian Economy Page 20 McqOptions

951.	The central banking functions in India are performed by the? I.Central Bank of India II.Reserve Bank of India III.State Bank of India IV.Punjab National Bank
A.	I,II
B.	II
C.	I
D.	II,III
Answer» C. I

Discussion

952.	When was Focus Market Scheme introduced?
A.	2003-04
B.	2004-05
C.	2005-06
D.	2006-07
Answer» E.

Discussion

953.	Which state stands first in the length of roads in the country?
A.	U.P.
B.	M.P.
C.	Maharashtra
D.	Rajasthan
Answer» D. Rajasthan

Discussion

954.	National Sample Survey Organisation (NSSO) was established in?
A.	1950
B.	1951
C.	1952
D.	1947
Answer» B. 1951

Discussion

955.	Bank Reconciliation Statement is
A.	a part of the cash book
B.	a ledger account
C.	a part of the Bank Account
D.	a statement prepared to find out the causes for difference between bank column of cash book and pass book
Answer» E.

Discussion

956.	Tax clearance certificate is required for
A.	starting a new business
B.	a person leaving India
C.	any auditor to practice income tax
D.	any assessor who wants to escape tax
Answer» C. any auditor to practice income tax

Discussion

957.	Consolidation of two or more existing companies into one is known as
A.	Absorption
B.	Liquidation
C.	Reconstruction
D.	Amalgamation
Answer» E.

Discussion

958.	The minimum number of members who must be present for transacting the business at a meeting is called
A.	Proxy
B.	Motion
C.	Agenda
D.	Quorum
Answer» E.

Discussion

959.	Some portion of the capital which can be called up only on the winding up of a company is called
A.	paid up capital
B.	called up capital
C.	reserve capital
D.	capital reserve
Answer» D. capital reserve

Discussion

960.	Consider the following statement: I. India is a developing economy II. India is the second stage of demography III. India ranks second among the highly populated countries. IV. India stands first in Industrial production Of the statements:
A.	I, alone is correct
B.	I and II are correct
C.	I,II and III are correct
D.	All are correct
Answer» D. All are correct

Discussion

961.	Fourth Five Year Plan period was
A.	1966-71
B.	1968-73
C.	1969-74
D.	1970-75
Answer» D. 1970-75

Discussion

962.	SIDCO was established in
A.	1950
B.	1952
C.	1954
D.	1956
Answer» D. 1956

Discussion

963.	The item that earns the maximum foreign exchange for India is
A.	leather and leather goods
B.	spices
C.	medicines
D.	rice
Answer» B. spices

Discussion

964.	National Renewel Fund was constituted in
A.	1990
B.	1992
C.	1994
D.	1996
Answer» C. 1994

Discussion

965.	Free trade zone is
A.	Kandla port
B.	Mumbai port
C.	Vishakhapatnam port
D.	Cochin port
Answer» B. Mumbai port

Discussion

966.	Consumers surplus is
A.	Surplus consumer
B.	Consumers surplus profit
C.	Surplus product
D.	Surplus satisfaction
Answer» E.

Discussion

967.	When did RBI become a state owned institution?
A.	1947
B.	1949
C.	1952
D.	1956
Answer» C. 1952

Discussion

968.	Expenditure on defence is an item of
A.	Public welfare investment
B.	Security of the nation
C.	Governments duty
D.	Development
Answer» C. Governments duty

Discussion

969.	The period of Ninth Five Year Plan is
A.	1997-2002
B.	1996-2001
C.	1998-2003
D.	1999-2004
Answer» B. 1996-2001

Discussion

970.	The programme IRDP is connected with
A.	Industry
B.	Transport
C.	Villages
D.	Trade
Answer» D. Trade

Discussion

971.	Dunkel proposal is related to
A.	patent right
B.	fundamental right
C.	human right
D.	none of these
Answer» B. fundamental right

Discussion

972.	Recent Tax reforms in India are based on the
A.	Rajah J. Chelliah Committee report
B.	Chocksi Committee report
C.	Wanchoo Committee report
D.	Raj Committee report
Answer» B. Chocksi Committee report

Discussion

973.	Black money refers to
A.	paper money which is black in colour
B.	money earnings from business
C.	unaccounted money
D.	none of these
Answer» D. none of these

Discussion

974.	Consider the following statements: Assertion(A): Demand curve normally slopes down wards. Reason (R) : Demand for goods increases when price increases. Of these
A.	Both (A) and (R) are true and (R) is the correct explanation of (A)
B.	Both (A) and (R) are true, but (R) is not the correct explanation of (A)
C.	(A) is true, but (R) is false
D.	(A)is false, but (R) is true
Answer» D. (A)is false, but (R) is true

Discussion

975.	The basic function of an economy is
A.	consumption
B.	production
C.	investment
D.	all these
Answer» E.

Discussion

976.	All losses and expenses are
A.	debited
B.	credited
C.	both debit and credit
D.	no entry
Answer» B. credited

Discussion

977.	Consider the following statements : VDIS I. means Voluntary Disclosure of Income Scheme II. was introduced in 1997 III. helped the tax evaders to declare undisclosed income of over Rs.33,000 crores. IV. helped the Government to get a tax of more than Rs.10,050 crores. Of the statements:
A.	I and II are correct
B.	I,II and III are correct
C.	I,III and IV are correct
D.	All are correct
Answer» E.

Discussion

978.	Advertising creates a
A.	brand loyalty
B.	quality of the product
C.	puruchasing capacity
D.	none of these
Answer» B. quality of the product

Discussion

979.	"Horlicks" is a ................ name.
A.	material
B.	brand
C.	institution
D.	company
Answer» C. institution

Discussion

980.	"Grapevine" is a term used in relation to
A.	formal communication
B.	informal communication
C.	both formal and informal communication
D.	informal motivation
Answer» C. both formal and informal communication

Discussion

981.	Consignment account is the nature of
A.	real account
B.	personal account
C.	nominal account
D.	profit and less account
Answer» D. profit and less account

Discussion

982.	The Central Bank of our country is the
A.	Reserve Bank of India
B.	State Bank of India
C.	Central Bank of India
D.	Indian Bank
Answer» B. State Bank of India

Discussion

983.	Reserve Bank of India issues all currency notes except
A.	one- rupee note
B.	two- rupee note
C.	five- rupee note
D.	ten- rupee note
Answer» B. two- rupee note

Discussion

984.	Consider the following statement: Assertion (A) : Indian Economy is a developing economy Reason (R) : India has disguised unemployment. Of the Statements:
A.	Both (A) and (R) are true. And (R) is the correct explanation of (A)
B.	Both (A) and (R) are true, but (R) is not the correct explanation of (A)
C.	Both (A) and (R) are false
D.	(A) is false, but (R) is true
Answer» C. Both (A) and (R) are false

Discussion

985.	In which plan was the growth rate target exceeded?
A.	First
B.	Second
C.	Sixth
D.	Seventh
Answer» B. Second

Discussion

986.	A serious effort to tackle the problem of poverty began with
A.	First Five Year Plan
B.	Second Five Year Plan
C.	Fourth Five Year Plan
D.	Seventh Five Year Plan
Answer» C. Fourth Five Year Plan

Discussion

987.	In India, Policy of Population Control was introduced in
A.	1951
B.	1961
C.	1971
D.	1947
Answer» D. 1947

Discussion

988.	Which is not a fiber material?
A.	Jute
B.	Silk
C.	Flax
D.	Rubber
Answer» E.

Discussion

989.	Which is not related to Industries?
A.	SIPCOT
B.	CIPKO
C.	TANSITIA
D.	SIDCO
Answer» C. TANSITIA

Discussion

990.	Human Resource Development was recognized as the core of all developmental efforts in
A.	the Second Five Year Plan
B.	the Fifth Five Year Plan
C.	the Sixth Five Year Plan
D.	the Eighth Five Year Plan
Answer» E.

Discussion

991.	Ninth Five Year Plan period is between
A.	1996-2001
B.	1997-2002
C.	1998-2003
D.	1999-2004
Answer» C. 1998-2003

Discussion

992.	What is the target growth rate as envisaged in the Ninth Five Year Plan?
A.	5.5%
B.	6%
C.	7%
D.	8%
Answer» C. 7%

Discussion

993.	The main and final aim of Land Reform is
A.	abolition of intermediaries
B.	fixing ceiling on land holding
C.	fixation of fair rent
D.	making tillers as the owners of the soil
Answer» E.

Discussion

994.	The total number of nationalized banks in India is
A.	14
B.	16
C.	17
D.	20
Answer» E.

Discussion

995.	"Economic Planning" refers to
A.	increasing the tax revenue
B.	allocation of resources
C.	proper planning to utilize manpower
D.	exploitation of both tax revenue and manpower
Answer» C. proper planning to utilize manpower

Discussion

996.	"FERA" stands for
A.	Foreign Exchange Regulation Act
B.	Foreign Exchange Restrictions Act
C.	Foreign Exchange reserve Act
D.	All of these
Answer» B. Foreign Exchange Restrictions Act

Discussion

997.	Consider the following statements: Assertion(A) : India is one of the leading Industrial countries among the developing countries. Reason (R) : Government of India has neglected altogether the traditional craft Industries Now Select your answer using the codes scheme given below:
A.	Both (A) and (R) are true and (R) is the correct explanation of (A)
B.	Both (A) and (R) are true, But (R) is not the correct explanation of (A)
C.	(A) is true, but (R) is false
D.	(A) is false, but (R) is true
Answer» D. (A) is false, but (R) is true

Discussion

998.	The second nationalization of banks took place in India in the year
A.	1969
B.	1979
C.	1975
D.	1980
Answer» E.

Discussion

999.	Which of the following is not a part of machinery that settles industrial disputes?
A.	Wage Court
B.	Works Committee
C.	Conciliation officers
D.	Board of Conciliation
Answer» B. Works Committee

Discussion

1000.	Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to
A.	80 percent
B.	83 percent
C.	90 percent
D.	100 percent
Answer» E.

Discussion

Explore topic-wise MCQs in General Knowledge.

The central banking functions in India are performed by the? I.Central Bank of India II.Reserve Bank of India III.State Bank of India IV.Punjab National Bank

When was Focus Market Scheme introduced?

Which state stands first in the length of roads in the country?

National Sample Survey Organisation (NSSO) was established in?

Bank Reconciliation Statement is

Tax clearance certificate is required for

Consolidation of two or more existing companies into one is known as

The minimum number of members who must be present for transacting the business at a meeting is called

Some portion of the capital which can be called up only on the winding up of a company is called

Consider the following statement: I. India is a developing economy II. India is the second stage of demography III. India ranks second among the highly populated countries. IV. India stands first in Industrial production Of the statements:

Fourth Five Year Plan period was

SIDCO was established in

The item that earns the maximum foreign exchange for India is

National Renewel Fund was constituted in

Free trade zone is

Consumers surplus is

When did RBI become a state owned institution?

Expenditure on defence is an item of

The period of Ninth Five Year Plan is

The programme IRDP is connected with

Dunkel proposal is related to

Recent Tax reforms in India are based on the

Black money refers to

Consider the following statements: Assertion(A): Demand curve normally slopes down wards. Reason (R) : Demand for goods increases when price increases. Of these

The basic function of an economy is

All losses and expenses are

Consider the following statements : VDIS I. means Voluntary Disclosure of Income Scheme II. was introduced in 1997 III. helped the tax evaders to declare undisclosed income of over Rs.33,000 crores. IV. helped the Government to get a tax of more than Rs.10,050 crores. Of the statements:

Advertising creates a

"Horlicks" is a ................ name.

"Grapevine" is a term used in relation to

Consignment account is the nature of

The Central Bank of our country is the

Reserve Bank of India issues all currency notes except

Consider the following statement: Assertion (A) : Indian Economy is a developing economy Reason (R) : India has disguised unemployment. Of the Statements:

In which plan was the growth rate target exceeded?

A serious effort to tackle the problem of poverty began with

In India, Policy of Population Control was introduced in

Which is not a fiber material?

Which is not related to Industries?

Human Resource Development was recognized as the core of all developmental efforts in

Ninth Five Year Plan period is between

What is the target growth rate as envisaged in the Ninth Five Year Plan?

The main and final aim of Land Reform is

The total number of nationalized banks in India is

"Economic Planning" refers to

"FERA" stands for

Consider the following statements: Assertion(A) : India is one of the leading Industrial countries among the developing countries. Reason (R) : Government of India has neglected altogether the traditional craft Industries Now Select your answer using the codes scheme given below:

The second nationalization of banks took place in India in the year

Which of the following is not a part of machinery that settles industrial disputes?

Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to