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- Question
What is Repo Rate and Reverse Repo Rate?
- 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
- 1. The shortcut key to quit from tally is
Options- A. CTRL + Q
- B. CTRL + ESC
- C. CTRL + T
- D. CTRL + P Discuss
- 2. Suspense account group is defined under
Options- A. Assets
- B. Income
- C. Expenditure
- D. Liabilities Discuss
- 3. 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
- 4. Fixed Foreign Exchange rate can be changed by
Options- A. SEBI
- B. Ministry of Finance
- C. RBI
- D. All of the above Discuss
- 5. 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 Discuss
- 6. Commercial banks are funded through which of the following?
Options- A. Customer deposits
- B. Services
- C. Stock holders
- D. Government funding Discuss
- 7. Which of the following terms is not used in banking sector?
Options- A. Daily Product Basis
- B. Remittancel
- C. Cash Reserve
- D. Actuary Discuss
- 8. What do you understand by Variance Report in payroll? Discuss
- 9. How do you calculate gratuity? Discuss
- 10. How higher management in an organization gets benefited by payroll reports? Discuss
Accounting and Finance problems
Search Results
Correct Answer: CTRL + Q
Correct Answer: Liabilities
Correct Answer: Wednesday to next Tuesday
Correct Answer: RBI
Explanation:
Fixed Foreign Exchange rate can be changed by Reserve Bank Of India (RBI).
Correct Answer: increase in domestic prices
Correct Answer: Customer deposits
Explanation:
A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.
Correct Answer: Variance Report is to know what is the difference between last month salary and the current month salary you can also check in that report all input which you have considered its captured or not
Correct Answer: Gratuity is paid to all such employees after their resignation or retirementIncase of resignation gratuity is paid to such employees who have completed 5 years of service Calculation of gratuity = Basic + DA x (15/26) x Total no yrs service 15- Half month 26- Excluding 4 sundays
Correct Answer: Payroll reports gives information about the total 'cost to Company' for the Employee Salary, Benefits (Cash and Non-Cash), Taxes, Total Hours worked All these information is helpful for the Management decisions
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