As per RBI, gold jewellery accepted as security/collateral will have to be valued at the average of the closing price of 22 carat gold for the preceding as quoted by the Indian Bullion and
Jewellers Association Ltd.
a. 7 days
b. 10 days
c. 14 days
d. 30 days
Ans – d
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Margin money required for Education Loan above Rs.4 lakh for Studies abroad is ……
a. No margin
b. 5 percent
c. 10 percent
d. 15 percent
Ans – d
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What would be the impact of the following errors on the Trial Balance?
- A Credit Note for Rs. 2,400 received from a supplier has been posted to the credit of the supplier’s account.
a. Excess credit Rs. 2,400
b. Excess credit Rs. 4,800
c. Excess debit Rs. 2,400
d. None of the above
Ans – c
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- The year-end balance in a Trade Receivable’s account has been carried down as Rs. 14,800, instead of Rs. 18,400.
a. Excess debit Rs. 3,600
b. Excess credit Rs. 3,600
c. No impact
d. None of the above
Ans – a
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- The total of the Returns Outwards Day Book, amounting to Rs. 9,800, has been posted to the debit of the Purchases Returns account.
a. No impact
b. Excess debit Rs. 9,800
c. Excess debit Rs. 19,600
d. None of the above
Ans – c
Which of these errors effect only one account?
a. Errors of casting
b. Errors of carry forward
c. Errors of posting
d. All the three
Ans – d
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Visually challenged person can avail which of the following banking facilities? (i) Cheque book facility including third party cheques, (ii) ATM/Net banking facility, (iii) Credit cards
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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Security required for Education Loan Upto more than Rs 4 lakh but up to Rs 7.5 lakh is (i)
Third party Guarantee, (ii) Co obligation of parent
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – d
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Margin money required for Education Loan above Rs.4 lakh for Studies in India is ……
a. No margin
b. 5 percent
c. 10 percent
d. 15 percent
Ans – b
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A partner that doesn’t take part in the management of business, but he/she has made
investment in business and liable to creditors of the business is known as:
a. Active partner
b. Nominal partner
c. Junior partner
d. Dormant partner
Ans – d
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Eligible Courses under Education Loan Scheme include (i) School education including plus 2
stage, (ii) Graduation & Post Graduation courses, (iii) Professional courses, computer certificate courses etc.
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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