Searching for "Accounts"

Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

The earliest credible evidence of coffee-drinking or knowledge of the coffee tree (1)/ appears in the middle of the fifteenth century (2)/ as evident from the accounts of Ahmed al-Ghaffar in Yemen. (3)/ No error (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: B) 2

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

Q:

On 28 July 2017, Lok Sabha passed Indian Institutes of Management (IIM) Bill, 2017. The Bill has a provision to place the Annual report of the IIM’s in the parliament and auditing of their accounts by ______.

 

A) Chief Economic Adviser B) Economic Affairs Secretary
C) Comptroller and Auditor General D) Attorney General
 
Answer & Explanation Answer: C) Comptroller and Auditor General

Explanation:
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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

Improve the bracketed part of the sentence.

 

The ‘right to choice’ of Aadhaar holders who do not want to link their accounts (may move up) for a decision.

A) may came up B) may come up
C) may come ahead D) No improvement
 
Answer & Explanation Answer: B) may come up

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

Q:

The Chairman of the Public Accounts Committee of the Parliament is appointed by the

A) President of India B) Prime Minister of India
C) Speaker of Lok Sabha D) Chairman of Rajya Sabha
 
Answer & Explanation Answer: C) Speaker of Lok Sabha

Explanation:
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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

Many novelists from the sub-continent (has provided) scathing accounts of this period.

A) have provided B) have provide
C) have provides D) no improvement
 
Answer & Explanation Answer: A) have provided

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

Q:

Choose the option that best captures the essence of the text.
Issue of money, in the form of banknotes and current accounts subject to cheque or payment at the customer's order. These claims on banks can act as money because they are negotiable and/or repayable on demand, and hence valued at par and effectively transferable by mere delivery in the case of banknotes, or by drawing a cheque that the payee may bank or cash. Banks act as both collection and paying agents for customers, participating in interbank clearing and settlement systems to collect, present, be presented with, and pay payment instruments. This enables banks to economize on reserves held for settlement of payments, since inward and outward payments offset each other. It also enables ____________.

A) The offsetting of payment flows between geographical areas, increasing the cost of settlement between them. B) The offsetting of payment flows between geographical areas, reducing the cost of settlement between them.
C) The offsetting of payment flows only in urban areas, reducing the cost of settlement between them. D) The offsetting of payment flows only in rural areas, increasing the cost of settlement between them.
 
Answer & Explanation Answer: B) The offsetting of payment flows between geographical areas, reducing the cost of settlement between them.

Explanation:

The passage is based on economic development of the bank. It says that the economic growth of the bank in terms of the money is based on the cost of settlement. If this cost is reduced amongst the countries then the flow of payment will be maintained or vice versa. It is nowhere mentioned in the passage about rural or urban areas so we will take a general context. Hence option B is the correct option.

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Filed Under: English
Exam Prep: CAT , GRE , TOEFL

Q:

When an account is declared as Inoperative & Dormant Accounts?

A) Only after 2 years from the date of the lasttransaction B) Only after 3 years from the date of the lasttransaction
C) Only after 1 years from the date of the lasttransaction D) Only after 10 years from the date of thelast transaction
 
Answer & Explanation Answer: A) Only after 2 years from the date of the lasttransaction

Explanation:

Schedule bank’s account can be treated as inoperative account only after 2 years from the date of the last credit entry of interest on Fixed Deposit account as per RBI guidelines.

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Filed Under: General Awareness

Q:

What type of account is accounts receivable?

A) Asset B) Liability
C) Expense D) Equity
 
Answer & Explanation Answer: A) Asset

Explanation:

Accounts receivable is listed as a current asset in the balance sheet, since it is usually convertible into cash in less than one year as it is the amount owed by the customer to the seller.

 

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Filed Under: Accounts Receivable
Exam Prep: AIEEE , Bank Exams , CAT
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