CAT Questions

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Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

Internal control is all of the policies and procedures management uses to achieve the following goals.

• Safeguard University assets - well designed internal controls protect assets from accidental loss or loss from fraud.

• Ensure the reliability and integrity of financial information - Internal controls ensure that management has accurate, timely and complete information, including accounting records, in order to plan, monitor and report business operations.

• Ensure compliance - Internal controls help to ensure the University is in compliance with the many federal, state and local laws and regulations affecting the operations of our business.

• Promote efficient and effective operations - Internal controls provide an environment in which managers and staff can maximize the efficiency and effectiveness of their operations.

• Accomplishment of goals and objectives - Internal controls system provide a mechanism for management to monitor the achievement of operational goals and objectives.

Hence, Internal controls are concerned with safeguarding assets.

Indica is the book written by Greek historian "Megasthenes" in which he described India like how is the Indians life, what way of life is followed, etc...

Given speed of the bike after servicing = 55 kmph

Time taken for travelling some distance at 55 kmph = 5 hrs

Then, 

Distance = Speed x Time = 55 x 5 = 275 kms.

Now, 

Speed of the bike before servicing = 35 kmph

Distance = 275 kms

Now, Time = Distance/Speed = 275/35 = 7.85 hrs =~ 8 hrs.

Sir Francis Drake was the first Englishman to sail around the world.

Seven of Indian states have bicameralism. Andhra Pradesh, Bihar, Jammu and Kashmir, Karnataka, Maharashtra, Telangana and Uttar Pradesh are those with bicameralism legislature in India.

Hence, Tamil Nadu is the only one which is not having bicameral legislature in India among the given states.

Ganesh Vasudev Mavalankar popularly known as Dadasaheb was an independence activist, the President of the Central Legislative Assembly, then Speaker of the Constituent Assembly of India, and later the first Speaker of the Lok Sabha, the lower house of the Parliament of India from 15 May 1952 – 27 February 1956.

From a, we conclude that Vinitha is the wife of Ragini's mother's only son i.e. Ragini's brother. Thus, Vinitha is Ragini's sister-in-law.

From b, we conclude that Vinitha is the cousin of Ragini's husband, which implies that Vinitha is Ragini's sister-in-law.

Gitanjali Rao, an 11-year-old Indian-American schoolgirl, was named as "America’s top young scientist" for inventing a cost-effective, quick lead-contamination detector in water. The seventh-grade student was inspired by the large-scale lead contamination in water in Flint, Michigan, that came to light recently.