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Daily Quiz: May 29, 2018
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- Question 1 of 7
1. Question
1 pointsCategory: Economyconsider the following taxes :
- Corporation tax
- customs duty
- wealth tax
- excise duty
Which of these is/ are indirect taxes?
Correct
Indirect taxes include – Excise duty , customs duty , service tax, securities and transaction taxes etc. property tax , corporation tax and wealth tax are included in direct tax.
Incorrect
Indirect taxes include – Excise duty , customs duty , service tax, securities and transaction taxes etc. property tax , corporation tax and wealth tax are included in direct tax.
- Question 2 of 7
2. Question
1 pointsCategory: Economywhich of the following committees examined and suggested Financial sectors reforms ?
Correct
Narsimham committee was constituted on August 14, 1999 to advise on financial reforms in banking sactors, Abid Hussein committee – on small scale industries, Chelliah Committee – tax reforms.
Incorrect
Narsimham committee was constituted on August 14, 1999 to advise on financial reforms in banking sactors, Abid Hussein committee – on small scale industries, Chelliah Committee – tax reforms.
- Question 3 of 7
3. Question
1 pointsCategory: EconomyThe term National Income represents
Correct
National Income = Gross national product at market prices- indirect taxes depreciation + subsidies
Incorrect
National Income = Gross national product at market prices- indirect taxes depreciation + subsidies
- Question 4 of 7
4. Question
1 pointsCategory: Economywhich one among the following countries has lowest GDP per capita
Correct
India has the lowest GDP per capita compared to Sri Lanka, China and Indonesia
Incorrect
India has the lowest GDP per capita compared to Sri Lanka, China and Indonesia
- Question 5 of 7
5. Question
1 pointsCategory: Economywhich one of the following is the correct statements?
Correct
Service tax is an indirect tax levied by the central government other indirect taxes are customs duty and excise duty as per 95th constitutional Amendment Act of 2003.
Incorrect
Service tax is an indirect tax levied by the central government other indirect taxes are customs duty and excise duty as per 95th constitutional Amendment Act of 2003.
- Question 6 of 7
6. Question
1 pointsCategory: EconomyparticipatoryNotes (PNs) are associated with which one of the following?
Correct
Participatory notes are financial instruments used by investors or hedge funds that not registered with the securities and exchange board of India to invest in India securities and exchange Board of India to invest in Indian securities and then issue participatory notes to foreign Institutional investors.
SEBI permitted FIIs to register and participate in Indian stock market in 1992.
Participatory notes are instruments that drive their value from an underlying financial instrument.
Incorrect
Participatory notes are financial instruments used by investors or hedge funds that not registered with the securities and exchange board of India to invest in India securities and exchange Board of India to invest in Indian securities and then issue participatory notes to foreign Institutional investors.
SEBI permitted FIIs to register and participate in Indian stock market in 1992.
Participatory notes are instruments that drive their value from an underlying financial instrument.
- Question 7 of 7
7. Question
1 pointsCategory: Economyconsider the following statements:
- The first telegraph line in India was laid between Kolkata (formerly Calcutta) and Diamond Harbour.
- The first Exports processing zone in India was set up in Kandla.
Which of the statements given above is / are correct?
Correct
The first experimental electric telegraph line was started Calcutta (now Kolkata) and diamondharbour in November 1850. A regular telegraph department was set up in 1854 when the telegraph act was enacted and telegraph facilities were thrown open to public traffic.
The first automatic telephone exchange was commissioned at Shimla in 1913-14
India was one of the first in Asia to recognize the effectiveness of the export, with Asia’s first EPZ set up in kandla in 1965, seven other zones were latter established in Mumbai, Chennai,Surat, Falta, Kochi, Noida and Vizag
Incorrect
The first experimental electric telegraph line was started Calcutta (now Kolkata) and diamondharbour in November 1850. A regular telegraph department was set up in 1854 when the telegraph act was enacted and telegraph facilities were thrown open to public traffic.
The first automatic telephone exchange was commissioned at Shimla in 1913-14
India was one of the first in Asia to recognize the effectiveness of the export, with Asia’s first EPZ set up in kandla in 1965, seven other zones were latter established in Mumbai, Chennai,Surat, Falta, Kochi, Noida and Vizag
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