CAT Questions

---

The Institute of Chartered Accountants of India (ICAI) elected Nilesh Shivji Vikamsey as president and Naveen N D Gupta as vice-president. They have been elected for the year 2017-18. Vikamsey, who served as vice-president, has been a member of the ICAI since 1985. Gupta has been a chartered accountant for more than 20 years.

Jeff Bezos is the richest person in modern history. The Amazon.com Inc. founder’s net worth broke $150 billion in New York on 16th July 2018 morning, according to the Bloomberg Billionaires Index.

That’s about $55 billion more than Microsoft Corp. co-founder Bill Gates, the world’s second-richest person.

World Consumer Rights Day is being observed today (15 March 2017) which is an awareness day and theme for this year is 'Building a Digital World Consumers can trust'.

The financial statements should be prepared in the following order:

Income statement - Statement of retained earnings - Balance sheet

1. Income statement reports revenues and expenses and calculates net income or net loss for the time period.

2. Statement of retained earnings show how retained earnings changed during the period due to net income or net loss and dividends.

3. Balance sheet reports assets, liabilities, and stockholders’ equity as of the last day of the period.

The United States of America and the Republic of India are proud to announce the 8th annual Global Entrepreneurship Summit (GES) in Hyderabad, India on 28-30 November, 2017. This year's Summit will highlight the theme Women First, Prosperity for All, and will focus on supporting women entrepreneurs and fostering economic growth globally. Advisor to the President Ivanka Trump will headline the United States delegation to the Summit.

GES is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world. GES 2017 will create an environment that empowers innovators, particularly women, to take their ideas to the next level. Through two and a half days of networking, mentoring, and workshops, GES empowers entrepreneurs to pitch their ideas, build partnerships, secure funding, innovate, and find their target customers --- creating new goods and services that will transform societies.