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- Question
Devaluation of currency leads to
Options- A. increase in domestic prices
- B. erratic fluctuations in domestic prices
- C. fall in domestic prices
- D. no impact on domestic prices
- Correct Answer
- increase in domestic prices
- 1. In which of the following cases will total revenue increase?
Options- A. Price rises and demand is inelastic
- B. Price falls and supply is inelastic
- C. Price rises and demand is elastic
- D. Price falls and demand is inelastic Discuss
- 2. Transfer payments are included in
Options- A. Government subsidies
- B. GDP
- C. Both A & B
- D. None of the above Discuss
- 3. The income and substitution effects account for
Options- A. the upward sloping curve
- B. the downward sloping curve
- C. Both A & B
- D. None of the above Discuss
- 4. What is an example of an inflation risk? Discuss
- 5. In preparing a bank reconciliation, outstanding checks are
Options- A. Deducted from the balance sheet
- B. Added to the bank balance
- C. Deducted from the bank balance
- D. Added to the balance sheet Discuss
- 6. Fixed Foreign Exchange rate can be changed by
Options- A. SEBI
- B. Ministry of Finance
- C. RBI
- D. All of the above Discuss
- 7. The Accounting period cycle of NSE is
Options- A. Monday to next Friday
- B. Wednesday to next Tuesday
- C. Wednesday to next Wednesday
- D. Tuesday to next Wednesday Discuss
- 8. Suspense account group is defined under
Options- A. Assets
- B. Income
- C. Expenditure
- D. Liabilities Discuss
- 9. The shortcut key to quit from tally is
Options- A. CTRL + Q
- B. CTRL + ESC
- C. CTRL + T
- D. CTRL + P Discuss
- 10. What is Repo Rate and Reverse Repo Rate? Discuss
Accounting and Finance problems
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Correct Answer: Price rises and demand is inelastic
Explanation:
In the case of, "Price rises and demand is inelastic", the total revenue increases.
Correct Answer: Government subsidies
Explanation:
Transfer payments are included in GDP and not in GDP.
Correct Answer: the downward sloping curve
Correct Answer: Inflation risk, also called purchasing power risk, is the chance that the cash flows from an investment won't be worth as much in the future because of changes in purchasing power due to inflation HOW IT WORKS (EXAMPLE): For example, $1,000,000 in bonds with a 10% coupon might generate enough interest payments for a retiree to live on, but with an annual 3% inflation rate, every $1,000 produced by the portfolio will only be worth $970 next year and about $940 the year after that The rising inflation means that the interest payments have less and less purchasing power And the principal, when it is repaid after several years, will buy substantially less than it did when the investor first purchased the bonds
Correct Answer: Deducted from the balance sheet
Explanation:
If an outstanding check of the previous month clears the bank (is paid by the bank) in the current month, you simply remove that check from the list of outstanding checks.
If an outstanding check of the previous month does not clear the bank in the current month, the check will remain on the list of outstanding checks until the month that it does clear the bank.
In the bank reconciliation process, the total amount of the outstanding checks is deducted from the balance appearing on the bank statement.
Correct Answer: RBI
Explanation:
Fixed Foreign Exchange rate can be changed by Reserve Bank Of India (RBI).
Correct Answer: Wednesday to next Tuesday
Correct Answer: Liabilities
Correct Answer: CTRL + Q
Correct Answer: Repo Rate is the rate at which the commercial banks borrows money from the central bank of a country ie, RBI in India Reverse Repo Rate is the rate at which the central bank of a country, in case of India it is RBI borrows money from the commercial banks in the country
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