General Awareness Questions

India ranks 131 in the 2016 Human Development Index (HDI) among the 188 countries. It scored 0.624 and was placed in medium human development category.

The index was unveiled recently as part of the Human Development Report (HDR) 2016 titled Human Development for Everyone published by the United Nations Development Programme (UNDP).

Samsung has become the first company in India to launch its mobile payment service named Samsung pay.

Corporation tax is a tax imposed on the net income of the company. Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax.

Taxes in India are levied by the Central Government and the state governments. Some minor taxes are also levied by the local authorities such as the Municipality. The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Central and the State.

Hence, Corporate Tax is imposed by Central Government.

The technology giant Apple has been named as the most innovative company of 2016, as per Boston Consulting Group (BCG) 2016 analysis. In the list of world’s 50 most innovative companies, Google has been ranked second, followed by Tesla Motors, Microsoft, Amazon, Netflix, Samsung, Toyota, Facebook and IBM. 

A Proprietorship is a group that has exclusive business rights and titles. A proprietorship is a business with a single owner and not registered as a corporation, partnership or limited liability company.

IPCC stands for the Intergovernmental Panel on Climate Change. It was established in 1988 by the World Meteorological Organization and the United Nations Environment Programme.

• IPCC, with respect to Chartered Accountancy, stands for Integrated Professional Competence Course. This is the second level of the CA course.

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects.