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 Business Awareness Questions

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Q:

A trial balance will not balance if

A) Rs.500 cash payment to creditors is debited to creditors a/c for Rs.50 and credited to cash Rs.500. B) correct journal entry is posted twice
C) the purchase on credit basis is debited to purchases and credited to cash D) None of the above
 
Answer & Explanation Answer: A) Rs.500 cash payment to creditors is debited to creditors a/c for Rs.50 and credited to cash Rs.500.

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Q:

 In December 2017, as per the announcement made by the finance Ministry, nearly how much amount have banks lost on account of frauds in the fiscal 2016-17?

A) Rs 50,000 crore B) Rs 5000 crore
C) Rs 17,000 crore D) Rs 1,000 crore
 
Answer & Explanation Answer: C) Rs 17,000 crore

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Q:

As per the guidelines issued by the RBI in September 2017, all Peer-to-Peer lending (P2P) platforms will be treated as ______.

 

A) Payment Banks   B) Small Finance Banks  
C) NBFCs D) Regional Rural Banks
 
Answer & Explanation Answer: C) NBFCs

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Q:

Total asset turnover is used to evaluate

A) The efficiency of management's use of assets to generate sales B) The need for asset replacement
C) The cash flows used to acquire assets D) The relation between asset cost and book value
 
Answer & Explanation Answer: A) The efficiency of management's use of assets to generate sales

Explanation:

Total asset turnover is the ratio which measures the value of a company's sales or revenues relative to the value of its assets. It is used to evaluate The efficiency of management's use of assets to generate sales.

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Q:

On a classified balance sheet, companies usually list current assets

A) in the order of acquisition. B) with the largest dollar amounts first.
C) in alphabetical order. D) in the order in which they are expected to be converted into cash.
 
Answer & Explanation Answer: D) in the order in which they are expected to be converted into cash.

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Exam Prep: Bank Exams , CAT

3 887
Q:

What does IMF stand for?

A) International Monetary Fund B) Indian Money Fund
C) International Machine Federation D) Institute of Monetary Finance
 
Answer & Explanation Answer: A) International Monetary Fund

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Q:

The market structure called monopoly exists where there is exactly ______ seller in any market.

A) 1 B) 2
C) 5 D) 10
 
Answer & Explanation Answer: A) 1

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Q:

An advantage of the corporate form of business is that

A) Easier to raise capital B) The Business Lives On
C) Protecting Personal Assets D) All the above
 
Answer & Explanation Answer: D) All the above

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