CAT Questions

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Personal financial planning is the process of creating and achieving financial goals.

True statements regarding personal financial planning:

As we age, the number and complexity of the financial decisions that we make increases.

There are two means for achieving financial goals—you either need to increase your savings or reduce spending.

A family's resources are limited.

A deposit in transit is cash (currency, coins, checks, electronic transfers) that a company has received and is rightfully reported as Cash on its balance sheet, but does not appear on the bank statement until a later date.

Subhash Chandra Khuntia, a 1981-batch Indian Administrative Services (IAS) officer who was a former Karnataka Chief Secretary, has been appointed as Chairman of Insurance Regulatory and Development Authority of India (IRDAI).

Government appointed former Canara Bank MD & CEO Rakesh Sharma as the new MD & CEO of IDBI Bank for the tenure of six months. Prior to him B. SRiram was the MD & CEO of IDBI Bank and he retired on September 30, 2018.

Dairy products like milk, cheese and yogurt are rich source of protein as well as calcium also. 

A change to the Constitution is called as An Amendment.

An Amendment ::

An Amendment is ratified after two-thirds of the House and Senate approve of the proposal and send it to the states for a vote. That Convention can propose as many amendments as it deems necessary. Then, three-fourths of the states must affirm the proposed Amendment.

The amount of water vapor ranges from a trace amount up to 4% of the mass of air. Water vapor exists as an invisible gas in the air.

The amount of water vapor in the air is called absolute humidity. The amount of water vapor in the air as compared with the amount of water that the air could hold is called relative humidity.

The maximum amount of water vapor that can be in the air depends on the air temperature.

You should have recorded in your cash books all amounts you have actually received and payments you have actually made. However the cash books may be incomplete as your bank may have put extra transactions through your account such as:

► bank fees or interest charges
► direct debits (payments) and direct credits (receipts).

Doing a regular bank reconciliation will allow you to:

► take into account any extra transactions your bank puts through your account and
► check and record any errors or omissions.

By regularly doing a bank reconciliation (say monthly) you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements.