Question : Advance or loan is taken by the Deceased partner from the firm, if any, along with interest thereon. Will be ------   to partner capital account 

Option 1: Debited 

Option 2: Credited 

Option 3: Either A and B

Option 4: None of the above

Question : The Punjab crisis in the 1980s involved conflicts between:

Option 1: Hindus and Muslims

Option 2: Sikhs and the central government

Option 3: India and Pakistan

Option 4: Urban and rural populations

Question : ______________ refers to production of goods and services valued at current price.
 

Option 1: Nominal GDP
 

Option 2: Real GDP
 

Option 3: GDP deflator
 

Option 4: Real national income
 

Question :

Working Capital Rs.45,000; Total Debt Rs. 1,00,000 and Long-term Debt Rs.70,000.

The value of Current liabilities are ________.

Option 1: Rs. 70,000

Option 2: Rs. 1,00,000

Option 3: Rs. 30,000

Option 4: Rs. 45,000

Question : Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Read carefully.

Illiteracy is a problem that has complex dimensions attached to it. In India, illiteracy is more or less concerned with different forms of disparities that exist in the country. There are gender imbalances, income imbalances, state imbalances, caste imbalances and technological barriers that shape the literacy rates that exist in the country. India possesses the largest illiterate population. Literacy rates stood at 82.14 per cent for men in 2011 and 85.46 per cent for women. This low female literacy is also responsible for the dependency of women on men for activities that requires them to read and write. Thus, this all leads to the formation of a vicious circle.

Again, it is no new concept that the rich households will have better access to educational facilities as compared to the poor households. Due to the lack of skills and knowledge, poor households involve themselves with unskilled labour in order to save bread for the family. This reduces the focus from gaining education. This is because the main focus deviates to earning income so as to be able to survive in the society. States that spend more on education seem to have a higher literacy rates as to the states that do not invest hesvily on education. Kerala is a case in point. The state spends 685 dollars per pupil, which also explains its educational levels.

One of the primary reasons for dismal literacy rates is inadequate school facilities. The teaching staff that is employed across the government-run schools is inefficient and unqualified. There is a dearth of well-read and trained teachers. Another reason for the huge dropout in schools is the lack of proper sanitation and drinking water. A study has revealed that 59 per cent of the schools do not have drinking water facilities.

The Supreme Court in a ruling in 1993 said that children had a fundamental right to free education and thus, in the year 2003 , the 'Right to Education was incorporated in the Constitution under the Constitution (86th Amendment), 2002.
Despite this, the country couldn't provide free and compulsory education of children up to fourteen years of age within ten years of the bill coming into effect under Article 45 of the Constitution.

Several other schemes too had been launched to ensure the right to education in the country. The National Policy of Education in the year 1988 declared that the whole nation must commit itself to drive away the menaces of illiteracy especially among the young population. The National Literacy Mission in 1988 made literacy a community endeavour. It aimed at attaining a literacy rate of 41 per cent by 2035 . The 1992 education policy guaranteed free and compulsory education to all children up to 14 years of age before the advent of the 21st century; a policy which seems to be biting the dust today as it has not been able to prevent dropouts among school children and so illiteracy prevails.

The Sarva Siksha Abhiyan was launched in 2001 to ensure that all children in the age groups of 8-14 years attend school and complete eight years of schooling by 2010. An important component of the scheme is the Education Guarantee Scheme and Alternative and Innovative Education, which is meant primarily for children in areas with no formal school within the radius of one kilometre.

Question

Which of the following types of imbalances has/have an effect on illiteracy?
A. Gender imbalances
B. Income imbalances
C. State and caste imbalances

Option 1: Only A
 

Option 2: Only B
 

Option 3: Only C
 

Option 4: All A, B and C

Question : Spreadsheet can be used in a business for - 

Option 1: Inventory Management

Option 2: Format of bill

Option 3: Description of client

Option 4: All of the above

Question : ‘Debt Service Ratio’ is termed as -----

Option 1: Current ratio 

Option 2: Quick ratio 

Option 3: Interest Coverage Ratio

Option 4: None of the above 

Question : Under which type of activity will you classify 'Proceeds from Sale of Machinery' while preparing the Cash Flow Statement _____________.

Option 1: Operating activities

Option 2: Investing activities

Option 3: financing activities

Option 4: Cash and cash equivalents

Question : Acquisition of fixed asset by issue of debentures or shares is an example of --------------------

Option 1: Non-cash transactions.

Option 2: Cash transactions.

Option 3: Both 1 and 2

Option 4: None of the above

Question : How did the 1971 elections affect the balance of power between the central government and the states?

Option 1: Increased centralization of power

Option 2: Strengthening of state autonomy

Option 3: Greater collaboration between the center and states

Option 4: No significant change