Questions

Q:

What is the objective of Financial Reporting?

Answer

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.

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Subject: Finance Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

0 2004
Q:

Read the passage carefully and select the best answer to each question out of the given four alternatives.


What is Gandhian philosophy? It is the religious and social ideas adopted and developed by Gandhi, first during his period in South Africa from 1893 to 1914, and later of course in India. These ideas have been further developed by later "Gandhians", most notably, in India by, Vinoba Bhave and Jayaprakash Narayan. Outside of India some of the work of, for example, Martin Luther King Jr. can also be viewed in this light. Understanding the universe to be an organic whole, the philosophy exists on several planes - the spiritual or religious, moral, political, economic, social, individual and collective. The spiritual or religious element, and God, is at its core. Human nature is regarded as fundamentally virtuous. All individuals are believed to be capable of high moral development, and of reform. The twin cardinal principles of Gandhi's thought are truth and nonviolence. It should be remembered that the English word "truth" is an imperfect translation of the Sanskrit, "satya", and "non-violence", an even more imperfect translation of "ahimsa". Derived from "sat" - "that which exists" - "satya" contains a dimension of meaning not usually associated by English speakers with the word "truth". There are other variations, too, which we need not go into here. For Gandhi, truth is the relative truth of truthfulness in word and deed, and the absolute truth - the Ultimate Reality. This ultimate truth is God (as God is also Truth) and morality - the moral laws and code - its basis. Ahimsa, far from meaning mere peacefulness or the absence of overt violence, is understood by Gandhi to denote active love - the pole opposite of violence, or "Himsa", in every sense. The ultimate station Gandhi assigns non violence stems from two main points. First, if according to the Divine Reality all life is one, then all violence committed towards another is violence towards oneself, towards the collective, whole self, and thus "self"-destructive and counter to the universal law of life, which is love. Second, Gandhi believed that ahimsa is the most powerful force in existence. Had himsa been superior to ahimsa, humankind would long ago have succeeded in destroying itself. The human race certainly could not have progressed as far as it has, even if universal justice remains far off the horizon. From both viewpoints, non violence or love is regarded as the highest law of humankind.


What can be suitable title to the passage?

A) The Gandhian philosophy B) The twin cardinal principles of Gandhiji
C) Truth and nonviolence D) Violence a self destructive mode
 
Answer & Explanation Answer: A) The Gandhian philosophy

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

0 2004
Q:

Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.

Awareness means the capacity to see a coffee pot and hear the birds sing in one's own way, and not the way one was taught. It may be assumed on good grounds that seeing and hearing have a different quality for infants than for grownups and that they are more aesthetic and less intellectual in the first years of life. A little boy sees and hears birds with delight. Then the 'good father' comes along and feels he should 'share' the experience and help his son 'develop'. He says, "That's a jay and this is a sparrow." The moment the little boy is concerned with which is a jay and which is a sparrow, he can no longer see the birds or hear them sing. He has to see and hear them the way his father wants him to. Father has good reasons on his side: since few people can afford to go through life listening to the birds sing, sooner the little boy starts his 'education' the better. Maybe he will be an ornithologist when he grows up.


How do children perceive things around them?

A) Aesthetically B) Intellectually
C) Emotionally D) Morally
 
Answer & Explanation Answer: A) Aesthetically

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

0 2003
Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

A slap on the wrist

A) A mild punishment B) Punishing the wrong person
C) To hit someone where it hurts the most D)  To threaten someone
 
Answer & Explanation Answer: A) A mild punishment

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Filed Under: English
Exam Prep: AIEEE , Bank Exams , CAT

0 2003
Q:

The Sanskrit poet Rajshekhar lived in the court of ___________.

A) Mahipala I B) Dharmapala
C) Bhoja D) Devpala II
 
Answer & Explanation Answer: A) Mahipala I

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

3 2003
Q:

In the following question, a sentence / a part of sentence is underlined. Below are given alternatives to the underlined part which may improve the sentence. Choose the correct alternative. In case no improvement is required, choose "No Improvement" option.

 

The girl to whom he got married to is an actress.

 

A) got married with B) got married
C) got betrothed in D) No improvement
 
Answer & Explanation Answer: B) got married

Explanation:
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Filed Under: English
Exam Prep: Bank Exams , GRE , TOEFL

0 2002
Q:

If the speed of an object moving along a straight line is constant, its motion is said to be _________.

A) Uniform B) Periodic
C) Circular D) Non-uniform
 
Answer & Explanation Answer: A) Uniform

Explanation:
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Filed Under: Physics
Exam Prep: Bank Exams

2 2002
Q:

Soil having high content of aluminum and iron oxide is also known as _____.

A) meadow soil B) pedalfer soil
C) chernozen soil D) podzol soil
 
Answer & Explanation Answer: B) pedalfer soil

Explanation:
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Filed Under: General Science
Exam Prep: Bank Exams

3 2002