Searching for "transaction"

Q:

Business transaction are recorded

A) in chronological order B) at the end of the month
C) weekly D) any of the above
 
Answer & Explanation Answer: A) in chronological order

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Filed Under: Business Awareness
Exam Prep: Bank Exams

Q:

Two shirts are bought at the rate of Rs 400 each. Shopkeeper sells one at the profit of 150% and other at the loss of 150%. What will be the total profit or loss in the whole transaction?

A) Loss of Rs 50 B) No profit/loss
C) Profit of Rs 25 D) Loss of Rs 150
 
Answer & Explanation Answer: B) No profit/loss

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Filed Under: Profit and Loss
Exam Prep: Bank Exams

Q:

Which of the following CANNOT be called a Debt instrument as referred in financial transactions?

A) Certificate of Deposits B) Bonds
C) Stocks D) Commercial Papers
 
Answer & Explanation Answer: C) Stocks

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Two pens are bought at the rate of Rs 20 each. Shopkeeper sells one at the profit of 25% and other at the loss of 25%. What will be the total profit or loss in the whole transaction?

 

A) No profit/loss B) Profit of Rs 1
C) Loss of Rs 1 D) Loss of Rs 2
 
Answer & Explanation Answer: A) No profit/loss

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Filed Under: Profit and Loss
Exam Prep: Bank Exams , CAT

Q:

In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even if they seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements.

 

Statement:

(I) In the GST Model in India, it would be dual tax (GST) with the center and states simultaneously levying tax on a common base tax.
(II) The central and state GST would be levied on every transaction of supply of goods and services simultaneously.

 

Conclusions:
(I) This new tax regime would benefit common man of country.
(II) There would be more clarity on state and central component.

 

A) Only conclusion II follows B) Conclusion I and II both follow
C) Neither I nor II follow D) Only conclusion I follows
 
Answer & Explanation Answer: C) Neither I nor II follow

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Filed Under: Statement and Conclusions
Exam Prep: Bank Exams

Q:

The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____.

A) Rs 5000 worth of consumer surplus B) Rs 8000 worth of consumer surplus
C) Rs 5000 worth of producer surplus D) Rs 8000 worth of producer surplus
 
Answer & Explanation Answer: C) Rs 5000 worth of producer surplus

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

A man bought 500 metres of electronic wire at 50 paise per metre. He sold 50% of it at a profit of 5%. At what percent should he sell the remainder so as to gain 10% on the whole transaction?

A) 13% B) 12.5%
C) 15% D) 20%
 
Answer & Explanation Answer: A) 13%

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Filed Under: Profit and Loss
Exam Prep: Bank Exams

Q:

Mr. Kapur purchased two toy cycles for Rs 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is

A) 1% loss B) 1% gain
C) 1.5% loss D) 1.5 gain
 
Answer & Explanation Answer: B) 1% gain

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Filed Under: Profit and Loss
Exam Prep: Bank Exams