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Q:

The principles of internal control include

A) Maintain Records B) Segregate of Duties
C) Mandatory Employee Rotation D) All the above
 
Answer & Explanation Answer: D) All the above

Explanation:

The principles of internal control are the concepts management uses to establish the ways to protect company assets.


The main internal control principles include:

  • Establish Responsibilities
  • Maintain Records
  • Insure Assets by Bonding Key Employees
  • Segregate of Duties
  • Mandatory Employee Rotation
  • Split Related Party Responsibility
  • Use Technological Controls
  • Perform Regular Independent Reviews

 

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Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1222
Q:

From the given alternatives, select the word which CANNOT be formed using the letters of the given word.

 

Numismatic

 

A) Must B) Since
C) Matic D) Mat
 
Answer & Explanation Answer: B) Since

Explanation:
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Filed Under: Logical Sequence of Words
Exam Prep: Bank Exams

0 1221
Q:

In the following question, four groups of three numbers are given. In each group the second and third number are related to the first number by a Logic/Rule/Relation. Three are similar on basis of same Logic/Rule/Relation. Select the odd one out from the given alternatives.

 

A) (17, 21, 25) B) (12, 16, 20)
C) (19, 23, 27) D) (22, 26, 32)
 
Answer & Explanation Answer: D) (22, 26, 32)

Explanation:
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Filed Under: Odd Man Out
Exam Prep: Bank Exams

0 1221
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 22472, and Rs 23820.32 respectively, what is the rate of interest?

A) 3 percent B) 6 percent
C) 12 percent D) 10 percent
 
Answer & Explanation Answer: B) 6 percent

Explanation:
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Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1221
Q:

Upanishad Books are: ________.

A) On religion B) On yoga
C) On the law D) On philosophy
 
Answer & Explanation Answer: D) On philosophy

Explanation:
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Filed Under: Books and Authors
Exam Prep: Bank Exams

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Q:

A bank offers 15% compound interest per half year. A customer deposits Rs 7200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by means of interest is

A) Rs 6803 B) Rs 850
C) Rs 3402 D) Rs 1701
 
Answer & Explanation Answer: C) Rs 3402

Explanation:
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Filed Under: Compound Interest
Exam Prep: Bank Exams

1 1221
Q:

A series is given with one term missing. Choose the correct alternative from the given ones that will complete the series.

Jallianwala Bagh Massacre, Simon Commission, Dandi March, ?

A) Quit-India Movement B) Advent of British
C) Advent of French D) Champaran Satyagraha
 
Answer & Explanation Answer: A) Quit-India Movement

Explanation:
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Filed Under: Logical Sequence of Words
Exam Prep: Bank Exams

1 1221
Q:

Which of the following is the name of a medieval Indian book on mathematics?

A) Vastushastra B) Leelavati
C) Panchadashi D) Roopmati
 
Answer & Explanation Answer: B) Leelavati

Explanation:
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Filed Under: Books and Authors
Exam Prep: Bank Exams

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