CAT Questions

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The Gobi desert is located in northern China region and southern Mangolia region.

Government imposes taxes to run the machinery of the state. Taxes serve as the main source of income for the government revenue.

Money spent by the government on government programs such as road work, electricity work, manhole, etc... that are aiming to contribute to the nation's social welfare in long and short term are referred to as Goverment Expenditures.

Justice T.B.N Radhakrishnan is the first Chief Justice of the newly formed Telangana High Court.

Le Corbusier was the town-planner of Chandigarh.

He was a Swiss-French architect, designer, painter, urban planner, writer, and one of the pioneers of what is now called modern architecture.

The nucleus of an atom is the densest part of an atom. It contains the protons and neutrons of an atom.

Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. These stakeholders include – investors, creditors, public, debt providers, governments & government agencies.

Financial Reporting is very important and critical task of an organization. It is vital part of Corporate Governance.

The objectives & purposes of financial reporting :–

* Providing information to management of an organization which is used for the purpose of planning, analysis, benchmarking and decision making.

* Providing information to investors, promoters, debt provider and creditors which is used to enable them to male rational and prudent decisions regarding investment, credit etc.

* Providing information to shareholders & public at large in case of listed companies about various aspects of an organization.

* Providing information about the economic resources of an organization, claims to those resources (liabilities & owner’s equity) and how these resources and claims have undergone change over a period of time.

* Providing information as to how an organization is procuring & using various resources.

* Providing information to various stakeholders regarding performance management of an organization as to how diligently & ethically they are discharging their fiduciary duties & responsibilities.

* Providing information to the statutory auditors which in turn facilitates audit.

* Enhancing social welfare by looking into the interest of employees, trade union & Government.

Shampooing is an Indian concept.